SUPPLEMENT DATED APRIL 2, 1996
TO
PROSPECTUSES DATED MAY 1, 1995
FOR
LIFE OF VIRGINIA SEPARATE ACCOUNT II
LIFE OF VIRGINIA SEPARATE ACCOUNT III
LIFE OF VIRGINIA
On April 1, 1996 General Electric Capital Corporation ("GE Capital") acquired
all of the common stock of Life of Virginia. On that day, GE Capital also
acquired all of the common stock of Forth Financial Resources, Ltd. ("FFRL"),
the parent of Forth Financial Securities Corporation which is the principal
underwriter for the policies described in the prospectuses. As a result of these
acquisitions Life of Virginia and FFRL have become indirectly, wholly owned
subsidiaries of GNA Corporation ("GNA").
GNA Corporation is a wholly owned subsidiary of General Electric Capital
Corporation ("GE Capital"). GE Capital, a diversified financial services company
with assets exceeding $161 billion, is a wholly owned subsidiary of General
Electric Company ("GE"). GE, a New York company founded more than one hundred
years ago by Thomas Edison, is the world's largest manufacturer of jet engines,
engineering plastics, medical diagnostic equipment and large-sized electric
power generation equipment. Its subsidiary, GE Capital, is a diversified
financial services company with subsidiaries engaged in commercial and
industrial specialized, mid-market and indirect consumer financing businesses.
The GE family of companies includes numerous insurance companies, including GNA,
Life of Virginia, American First Security Life Insurance Company, Federal Home
Life Insurance Company, The Harvest Life Insurance Company, Union Fidelity Life
Insurance Company and others.
BOARD OF DIRECTORS OF LIFE OF VIRGINIA
Concurrently with the acquisition of Life of Virginia by GE Capital, Daniel T.
Cox, Harvey N. Medvin, Arthur F. Quern, Raymond I. Skilling, Ray M. Perisho and
Michael A. Conway resigned from the board of directors of Life of Virginia. At
the same time, the following individuals became members of the board of
directors of Life of Virginia:
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<TABLE>
<CAPTION>
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New Directors Principal Occupations Last 5 Years
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<S> <C>
Patrick E. Welch Chairman of the Board of Directors of Life of Virginia since
April 1, 1996. Director, President and Chief Executive Officer of
Great Northern Insured Annuity Corporation ("GNA") since
1992. Executive Vice President and Chief Operating Officer of
GNA 1991-1992. Senior Vice President and Chief Financial
Officer of GNA Corporation and its subsidiaries 1983-1991.
President and CEO of GNA Investors Trust since 1992. Senior
Vice President and Treasurer of GNA Investors Trust 1986-1992.
- ------------------------------------------------------------------------------------------------------
Hans L. Carstensen Director of Life of Virginia since April 1, 1996. Director and
Chief Marketing Officer of GNA since April 1994. Senior Vice
President of GNA since 1987.
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Victor C. Moses Director of Life of Virginia since April 1, 1996. Director of
GNA since April 1994. Senior Vice President, Business
Development, and Chief Actuary of GNA since May 1993.
Senior Vice President and Chief Financial Officer of GNA
1991-1993. Vice President and Chief Actuary of GNA
1983-1991. Senior Vice President, Controller and Treasurer
GNA Investors Trust 1992-1993.
- ------------------------------------------------------------------------------------------------------
Geoffrey S. Stiff Director of Life of Virginia since April 1, 1996. Director of
GNA since April 1994. Senior Vice President, Chief Financial
Officer and Treasurer of GNA since May 1993. Vice President,
Chief Financial Officer and Director of Employers Reinsurance
Corporation 1987-1993. Senior Vice President, Controller and
Treasurer of GNA Investors Trust since 1993.
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</TABLE>
The principal business address of Messrs. Welch, Carstensen, Moses and Stiff is
GNA Corporation, Two Union Square, 601 Union Street, Seattle, Washington 98101.
