Rule 497(e)
File Nos. 811-3972
and 002-89550
FutureFunds Series Account
of
Great-West Life & Annuity Insurance Company
Supplement dated July 1, 2000 to the
Prospectus for FutureFunds Series Account
dated May 1, 2000
On Page 6 under the heading "Eligible Fund Annual Expenses," please delete the
existing disclosure concerning the American Century Equity-Income Fund and
replace it with the following:
Total
Eligible Fund Management Other Eligible Fund
fees expenses1 expenses
American Century Equity-Income Fund 1.00% 0.00% 1.00%
1 For the American Century Equity Income Fund, Other Expenses, which include the
fees and expenses of the funds' independent directors, their legal counsel and
interest, were less than 0.005% for the most recent fiscal year.
On Page 7 under the heading "Examples," please delete the existing disclosure
concerning the American Century Equity-Income Fund and replace it with the
following:
If you make a total withdrawal at the end of the applicable time period, you
would pay the following fees and expenses on a $1,000 investment, assuming a 5%
annual return on assets and an assessment of the maximum mortality and expense
risk charges that are assessed as a daily deduction from the Investment
Divisions and Contingent Deferred Sales Charge under any Group Contract:
Investment Division 1 Year 3 Year 5 Year 10 Year
------------------- ------ ------ ------ -------
American Century Equity-Income Fund $23.46 $75.88 $136.36 $329.47
On Page 8 under the heading "Examples," please delete the existing disclosure
concerning the American Century Equity-Income Fund and replace it with the
following:
If you continue your interest under the Group Contract, or if you elect to take
annuity payments, at the end of the applicable time period, you would pay the
following fees and expenses on a $1,000 investment, assuming a 5% annual return
on assets and an assessment of the maximum mortality and expense risk charges
that are assessed as a daily deduction from the Investment Divisions:
Investment Division 1 Year 3 Year 5 Year 10 Year
------------------- ------ ------ ------ -------
American Century Equity-Income Fund $83.46 $135.88 $196.36 $329.47
On Page 11 immediately before the heading "Eligible Fund Investment Advisers,"
please delete the existing disclosure concerning the American Century
Equity-Income Fund and replace it with the following:
American Century Funds (Investor Class)
American Century Equity Income Fund seeks to provide current income. Capital
appreciation is a secondary objective. The fund seeks to meet these objectives
by investing in common stocks on companies that the fund's managers believe have
a favorable dividend-paying history that have prospects for dividend payments to
continue or increase. Under normal market conditions, the fund managers intend
to keep at least 85% of the fund's assets invested in income-paying securities
and at least 65% of its assets in U.S. equity securities.
