Rule 497(e)
File No. 333-11493
The Schwab Fixed Annuity(tm)
Issued by
Great-West Life & Annuity Insurance Company
February 21, 1997
On page i of the prospectus insert at the end of the second
paragraph:
"This Contract may not be available in all states."
On page 1 of the prospectus insert at the end of the first
paragraph:
"The Contract may not be available in all states or jurisdictions.
Please consult with your representative or call the Schwab Annuity
Service Center for more information."
On page 3 of the prospectus:
Under the Heading Guarantee Period Fund replace the fourth
paragraph with the following:
"As of the date of this Prospectus, Guarantee Periods with annual
durations of 1 to 10 years are offered only in those states where
the Contract is available. The Guarantee Periods may be changed in
the future; however, any such modification will not have an impact
on any Guarantee Period then in effect."
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