<PAGE>
AVERAGE ANNUAL
TOTAL RETURN FOR PERIODS
ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
FUND ONE YEAR FIVE YEARS TEN YEARS LIFE OF THE FUND
---- -------- ---------- --------- ----------------
Investment Company All
America................ -0.3% 5.7% 11.1% 11.1%(1)
<S> <C> <C> <C> <C>
Investment Company Eq-
uity Index............. -0.3 N/A 2.2(2)
Investment Company Bond. -4.9 5.8 7.3 7.3(1)
Investment Company
Short-Term Bond........ -0.3 N/A 1.3(2)
Investment Company Mid-
Term Bond.............. -5.2 N/A 0.1(2)
Investment Company Com-
posite................. -4.8 6.1 9.6 9.6(1)
Investment Company Ag-
gressive Equity........ N/A N/A 7.1(3)
Fidelity VIP Equity-In-
come................... 5.3 8.6 8.9(4)
Fidelity VIP II Asset
Manager................ -7.9 8.8 1.7(5)
Scudder Capital Growth.. -11.3 6.6 10.4(6)
Scudder Bond............ -6.5 5.9 6.3(6)
Scudder International... -2.8 4.5 7.4(7)
TCI Growth.............. -2.7 6.9 8.7(8)
Calvert Responsibly In-
vested Balanced........ -4.9 4.6 6.2(9)
CUMULATIVE TOTAL RETURN FOR PERIODS
ENDED DECEMBER 31, 1994
<CAPTION>
FUND ONE YEAR FIVE YEARS TEN YEARS LIFE OF THE FUND
---- -------- ---------- --------- ----------------
Investment Company All
America................ -0.3% 32.1% 186.3% 186.3%(1)
<S> <C> <C> <C> <C>
Investment Company Eq-
uity Index............. -0.3 N/A 4.2(2)
Investment Company Bond. -4.9 31.7 92.7 92.7(1)
Investment Company
Short-Term Bond........ -0.3 N/A 2.5(2)
Investment Company Mid-
Term Bond.............. -5.2 N/A 0.5(2)
Investment Company Com-
posite................. -4.8 33.7 142.0 142.0(1)
Investment Company Ag-
gressive Equity........ N/A N/A 4.7(3)
Fidelity VIP Equity-In-
come................... 5.3 26.5 103.1(4)
Fidelity VIP II Asset
Manager................ -7.9 14.3 53.0(5)
Scudder Capital Growth.. -11.3 37.4 151.6(6)
Scudder Bond............ -6.5 33.1 76.9(6)
Scudder International... -2.8 24.7 71.1(7)
TCI Growth.............. -2.7 37.9 79.1(8)
Calvert Responsibly In-
vested Balanced........ -4.9 24.8 64.2(9)
</TABLE>
- -------
(1) For the period beginning January 1, 1985 (commencement of operations)
(2) For the period beginning February 5, 1993 (commencement of operations)
(3) For the period beginning May 2, 1994 (commencement of operations)
(4) For the period beginning October 9, 1986 (commencement of operations)
(5) For the period beginning September 6, 1989 (commencement of operations)
(6) For the period beginning July 16, 1985 (commencement of operations)
(7) For the period beginning May 1, 1987 (commencement of operations)
(8) For the period beginning November 20, 1987 (commencement of operations)
(9) For the period beginning September 2, 1986 (commencement of operations)
The Fidelity VIP II Contrafund Portfolio had not commenced operations as of
December 31, 1994 and is not represented in the above table. The returns for
the All America Fund (previously called the "Stock Fund") prior to May 1, 1994
reflect the results of that Fund prior to a change in its investment objectives
and policies and the addition of subadvisers on that date. The commencement
dates for the Funds reflect the commencement dates for the underlying fund or
portfolio. Separate Account charges have been deducted for funds or portfolios
which commenced operations prior to the commencement of operations of the
corresponding Fund of the Separate Account.
4
