GENERAL AMERICAN LIFE INSURANCE CO SEPARATE ACCOUNT ELEVEN
485BPOS, 1999-04-23
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As filed with the Securities and Exchange Commission on
22 April 1999
                                     Registration No. 333-53477

                SECURITIES AND EXCHANGE COMMISSION
                       Washington, DC  20549


                  Post-Effective Amendment No. 2

                              TO

                           FORM S-6

           FOR REGISTRATION UNDER THE SECURITIES ACT
           OF 1933 OF SECURITIES OF UNIT INVESTMENT
              TRUSTS REGISTERED ON FORM N-8B-2

           GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                 (Exact Name of Registrant)

           GENERAL AMERICAN LIFE INSURANCE COMPANY
                     700 Market Street
                    St. Louis, MO 63101
 (Name and Address of principal executive office of depositor)

                Matthew P. McCauley, Esquire
           General American Life Insurance Company
                      700 Market Street
                    St. Louis, MO 63101
      (Name and Address of Agent for Service of Process)




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<PAGE>

It is proposed that this filing will become effective (check
appropriate space)


[   ] immediately upon filing pursuant to paragraph (b), of
      Rule 485

[ X ] on 1 May 1999 pursuant to paragraph (b) of Rule 485

[   ] 60 days after filing pursuant to paragraph (a)(1) of
      Rule 485

[   ] on 1 May 1999, pursuant to paragraph (a)(1) of Rule 485

[   ] 75 days after filing pursuant to paragraph (a)(2) of
      Rule 485

[   ] on (date) pursuant to paragraph (a)(2) of Rule 485

[   ] this post-effective amendment designates a new
      effective date for a previously filed post-effective
      amendment

                DECLARATION PURSUANT TO RULE 24f-2

Pursuant to Rule 24f-2 under the Investment Company Act of 1940, an
indefinite number or amount of securities has been registered under the
Securities Act of 1933.  The Registrant filed the 24f-2 Notice for the
fiscal year ended December 31, 1998 on 30 March 1999.


                              <PAGE>
<PAGE>

               RECONCILIATION AND TIE BETWEEN ITEMS
                IN FORM N-8B-2 AND THE PROSPECTUS


      Item No. of
      Form N-8B-2           Caption in Prospectus
      -----------           ---------------------
           1.       Cover Page
           2.       Cover Page
           3.       Not Applicable
           4.       Distribution of the Policies
           5.       The Company and the Separate Account
           6.       The Separate Account
           7.       Not Required
           8.       Not Required
           9.       Legal Proceedings
          10.       Summary; Policy Benefits; Policy Rights;
                    Charges and Deductions; General Matters;
                    Voting Rights
          11.       Summary; General American Capital
                    Company
                     American Century Variable
                     Portfolios/J.P. Morgan Series Trust
                     II/Variable Insurance Products
                     Fund/Variable Insurance Products Fund
                     II/VanEck Worldwide Insurance Trust
          12.       Summary; The Company and the Separate
                     Account
          13.       Summary; Charges and Deductions
          14.       Summary; Payment and Allocation of
                    Premiums
          15.       Payment and Allocation of Premiums
          16.       Payment and Allocation of Premiums
          17.       Summary; Policy Rights; Payment and
                    Allocation of Premiums; Charges and
                     Deductions
          18.       Payment and Allocation of Premiums
          19.       General Matters; Voting Rights
          20.       Not Applicable
          21.       Policy Rights; General Matters
          22.       Not Applicable
          23.       Safekeeping of the Separate Account's
                    Assets
          24.       General Matters
          25.       The Company and the Separate Account
          26.       Not Applicable



                             i

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<PAGE>

      Item No. of
      Form N-8B-2           Caption in Prospectus
      -----------           ---------------------

          27.         The Company and the Separate Account
          28.         Management of the Company
          29.         The Company and the Separate Account
          30.         Not Applicable
          31.         Not Applicable
          32.         Not Applicable
          33.         Not Applicable
          34.         Not Applicable
          35.         The Company and the Separate Account
          36.         Not Required
          37.         Not Applicable
          38.         Summary; Distribution of the Policies
          39.         Summary; Distribution of the Policies
          40.         Distribution of the Policies
          41.(a)      The Company and the Separate Account;
                       Distribution of the Policies
             (b)      Not required
             (c)      Not required
          42.         Not Applicable
          43.         Not Applicable
          44.         Payment and Allocation of Premiums
          45.         Not Applicable
          46.         Policy Rights
          47.         Payment and Allocation of Premiums
          48.         Not Applicable
          49.         Not Applicable
          50.         The Separate Account
          51.         Cover Page; Summary; Policy Benefits;
                       Policy Rights; Payment and Allocation
                       of Premiums
          52.         The Company and the Separate Account
          53.         Federal Tax Matters
          54.         Not Applicable
          55.         Not Applicable
          56.         Not Required
          57.         Not Required
          58.         Not Required
          59.         Not Required



                          - ii -

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<PAGE>

          FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
                             ISSUED BY
              GENERAL AMERICAN LIFE INSURANCE COMPANY
                         700 MARKET STREET
                        ST. LOUIS, MO 63101
                          (314) 231-1700

This Prospectus describes an individual flexible premium variable life
insurance Policy ("the Policy") offered by General American Life
Insurance Company ("General American" or "the Company").  The Policy is
designed to provide lifetime insurance protection and to provide
maximum flexibility to vary premium payments and change the level of
death benefits payable under the Policy.  This flexibility allows you
to provide for changing insurance needs under a single insurance
policy.  You also have the opportunity to allocate Net Premiums among
several investment portfolios with different investment objectives.

The Policy provides:
(1) a Cash Surrender Value that can be obtained by surrendering the
    Policy;
(2) Policy Loans; and
(3) a death benefit payable at the Insured's death.
As long as a Policy remains in force before the Insured's Attained Age
100, the death benefit will be at least the current Face Amount of the
Policy.  A Policy will remain in force as long as its Cash Surrender
Value is sufficient to pay the monthly charges.

After the end of the "Right to Examine Policy" period, you may allocate
the Net Premiums to one or more of the Divisions of General American
Separate Account Eleven ("the Separate Account") or, in some contracts,
to General American's General Account.

You will find a list of the Funds in the Separate Account, the fund
managers, and the investment objectives in the Summary on page 13.
Note that investment results in the Separate Account are not guaranteed
- -- you may either make money or lose money.  Depending on investment
results, the policy could lapse or the death benefit could change.
The Prospectus of each Fund contains a full description of the Fund,
including the investment policies, restrictions, risks, and charges.
You should receive a Prospectus for each Fund along with this
Prospectus for the Policy.

In most policies you may also invest all or part of your cash value in
the General Account, which guarantees at least 4% interest.

It may not be advantageous to purchase a Policy as a replacement for
another type of life insurance or as a means to obtain additional
insurance protection if the purchaser already owns another flexible
premium variable life insurance policy.

These securities have not been approved or disapproved by the
Securities and Exchange Commission nor has the Commission passed upon
the accuracy or adequacy of this prospectus.  Any representation to the
contrary is a criminal offense.

Please read this Prospectus carefully and keep it for future reference.
The date of this Prospectus is May 1, 1999.  The Policies are not
available in all states.

This prospectus does not constitute an offering in any jurisdiction in
which such offering may not be lawfully made.  No dealer, salesman, or
other person is authorized to give any information or make any
representations in connection with this offering other than those
contained in this prospectus, and, if given or made, such other
information or representations must not be relied upon.
<PAGE>
<PAGE>

                     TABLE OF CONTENTS

                                                          Page

Summary                                                     4
Definitions                                                12
The Company and the Separate Account                       13
  The Company
  The Separate Account
  General American Capital Company
  Russell Insurance Funds
  American Century Variable Portfolios
  J.P. Morgan Series Trust II
  Variable Insurance Products Fund
  Variable Insurance Products Fund II
  Van Eck Worldwide Insurance Trust
Addition, Deletion, or Substitution of Investments         17
Policy Benefits                                            17
  Death Benefit
  Cash Value
Policy Rights                                              21
  Loans
  Surrender, Partial Withdrawals and Pro Rata Surrender
  Transfers
  Portfolio Rebalancing
  Dollar Cost Averaging
  Right to Examine Policy
  Death Benefit at Attained Age 100
Payment and Allocation of Premiums                         26
  Issuance of a Policy
  Premiums
  Allocation of Net Premiums and Cash Value
  Policy Lapse and Reinstatement
Charges and Deductions                                     28
  Premium Expense Charges
  Monthly Deduction
  Contingent Deferred Sales Charge
  Separate Account Charges
Dividends                                                  31
The General Account                                        31
General Matters                                            33
Distribution of the Policies                               36
Federal Tax Matters                                        36
Unisex Requirements Under Montana Law                      39
Safekeeping of the Separate Account's Assets               40
Voting Rights                                              40
State Regulation of the Company                            40
Management of the Company                                  41
Legal Matters                                              43
Legal Proceedings                                          44
Experts                                                    44
Additional Information                                     44
Financial Statements                                       44
Appendix A - Illustration of Death Benefits and
  Cash Values                                              45

                              SUMMARY

THROUGHOUT THIS SUMMARY, THE TERMS "YOU" AND "YOUR" REFER TO THE OWNER
OF THE POLICY.  THE OWNER MAY OR MAY NOT BE THE PERSON INSURED UNDER
THE POLICY.  THE TERMS "WE," "US," AND "OUR" REFER TO GENERAL AMERICAN
LIFE INSURANCE COMPANY.
<PAGE>
<PAGE>

THE INFORMATION IN THIS SECTION IS JUST A SUMMARY, WRITTEN IN "LAYMEN'S
TERMS" TO HELP YOU UNDERSTAND THE POLICY.  HOWEVER, BOTH YOUR POLICY
AND THIS PROSPECTUS ARE LEGAL DOCUMENTS.  IF YOU HAVE QUESTIONS ABOUT
THEM, YOU SHOULD CONTACT YOUR AGENT OR OTHER COMPETENT PROFESSIONAL
ADVISERS.

IN PREPARING THIS SUMMARY, WE ASSUME THAT THE POLICY IS IN FORCE, AND
THAT YOU HAVE NOT BORROWED ANY OF THE CASH VALUE.

THE POLICY.  You are purchasing a life insurance policy.  Like many
life insurance policies, it has both a death benefit and a cash value.
The death benefit is the amount of money that we will pay to the
beneficiary if the person insured under the policy dies while the
policy is in force.  The cash value is the amount of money accumulated
in your policy as an investment at any time.  The cash value consists
of the premiums you have paid, reduced by the expenses deducted for
operation of the policy, and either increased or decreased by
investment results.

You have certain rights, including the right to borrow or withdraw
money from the policy's cash value and the right to select the funds in
which you will invest your premiums.

You have the right to review the policy and decide whether you want to
keep it.  If you decide not to keep the policy, you may return it to
us or to your agent during the "Right to Examine Policy Period."  This
period is sometimes referred to as the "Free Look Period."  It normally
ends on the latter of:
     1. twenty days after you receive the policy or
     2. forty-five days after you signed the application.
In some states the period may be longer.  Your agent can tell you if
this is the case.

During the "Right to Examine Policy Period" we will hold any premiums
you have paid in the money market fund.  If you return the policy
before the end of the free look period, we will cancel the policy and
return any premiums you have paid.  (For policies issued in Kansas, the
rules are different.  Your agent can provide you with the details.)
(See Policy Rights - Right to Examine Policy.)

When the "Right to Examine Policy Period" ends, we will deduct any
charges due and transfer the rest of the money (your "net premium")
into the investment funds that you have selected.  We will continue to
transfer future net premiums into the investments that you select as
soon as we receive the premiums.

The policy is a "flexible premium" policy.  This means that you may,
within limits described below, make premium payments at any time and in
any amount you choose.  You do not have to make premium payments
according to a fixed schedule, although you may choose to do so.

There are limits on the amount that you may pay into the policy without
creating tax consequences.  If you make a premium payment that exceeds
the limit, we will notify you and offer to refund the excess paid.

We will deduct certain expenses from your cash value.  These expenses
are described below.  In addition, your cash value may increase or
decrease, depending on the investment experience of the funds you
select.  Because it is possible for your cash value to decrease, you
may have to pay additional premiums in order to keep the policy in
force.

As long as there is enough money in your cash value to pay the monthly
charges, your death benefit will always be at least the face amount of
your policy, minus any amount that you have borrowed from the policy.
The face amount of your policy means the amount of insurance that you
have purchased.  It is shown on the specifications page of your policy.

We will notify you if your cash value is not enough to pay the monthly
charges.  If that happens, you will have 62 days to make a premium
payment big enough to bring your cash value up to the amount required
to pay the charges.  If you make the premium payment, the policy will
stay in force.  If you don't, the policy will lapse, or terminate with
no value.  (See Payment and Allocation of Premiums - Policy Lapse and
Reinstatement.)

INVESTING YOUR CASH VALUE.  You may tell us to invest your cash value
in either the general account or the separate account, or you may split
your cash value between them.

THE GENERAL ACCOUNT.  The general account is an interest-bearing
account.  Money in the general account is guaranteed to earn at least
4% interest, and it may earn more.  General American determines the
current interest rate from time to time, and we will notify you in
advance of any changes.  We have the right to limit the amount of money
that you may put into the general account.

THE SEPARATE ACCOUNT.  The separate account consists of divisions,
which represent different types of investments.  Each division may
either make money or lose money.  Therefore if you invest in a division
of the separate account, you may either make money or lose money,
depending on the investment experience of that division.  There is no
guaranteed rate of return in the separate account.


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There are currently twenty-four divisions, or investment options,
available in the separate account.  These divisions represent
investment funds run by

                               2

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<PAGE>

various investment companies.  The investment companies hire advisers
to operate or advise on the day-to-day operation of the funds.

The following list shows the investment companies whose funds are
available under the policy, along with the managers or advisers and the
divisions that they oversee:

<TABLE>
- -------------------------------------------------------------------------------------------------------
<CAPTION>
INVESTMENT COMPANY                                         INVESTMENT MANAGER/ADVISER
- -------------------------------------------------------------------------------------------------------
<S>                                                        <C>
General American Capital Company                           Conning Asset Management Company
- -------------------------------------------------------------------------------------------------------
Russell Insurance Funds                                    Frank Russell Investment Management Company
- -------------------------------------------------------------------------------------------------------
American Century Variable Portfolios                       American Century Investment Management, Inc.
- -------------------------------------------------------------------------------------------------------
J.P. Morgan Series Trust II                                J.P. Morgan Investment Management, Inc.
- -------------------------------------------------------------------------------------------------------
Fidelity Investments Variable Insurance Products Fund      Fidelity Management & Research Company
- -------------------------------------------------------------------------------------------------------
Fidelity Investments Variable Insurance Products Fund II   Fidelity Management & Research Company
- -------------------------------------------------------------------------------------------------------
Van Eck Worldwide Insurance Trust                          Van Eck Associates Corporation
- -------------------------------------------------------------------------------------------------------
</TABLE>


These investment funds have different investment goals and strategies,
which we have summarized in the following table.  You should review the
prospectus of each fund, or seek professional guidance in determining
which fund(s) best meet your objectives.

<TABLE>
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
   INVESTMENT                   FUND                INVESTMENT                                   OBJECTIVE
   ----------                   ----                ----------                                   ---------
    MANAGER                     NAME                   TYPE
    -------                     ----                   ----
- --------------------------------------------------------------------------------------------------------------------------------
<C>                     <C>                     <C>                            <S>
      Conning                                                                  To achieve a rate of return that parallels the
  Asset Management        S&P 500 Index Fund      Growth & Income              return of the stock market as a whole, as
      Company                                                                  represented by the Standard and Poor's 500 Stock
                                                                               Index.
- --------------------------------------------------------------------------------------------------------------------------------
      Conning                                                                  To obtain the highest level of current income
  Asset Management        Money Market Fund        Money Market                consistent with the preservation of capital and
      Company                                                                  maintenance of liquidity.
- --------------------------------------------------------------------------------------------------------------------------------
      Conning                                                                  To provide a rate of return that reflects the
  Asset Management         Bond Index Fund        Corporate Bonds              performance of the bond market as a whole, as
      Company                                                                  measured by the Lehman Brothers
                                                                               Government/Corporate Bond Index.
- --------------------------------------------------------------------------------------------------------------------------------
      Conning
  Asset Management      Asset Allocation Fund        Balanced                  To obtain a high rate of long-term return,
      Company                                                                  composed of capital growth and income.
- --------------------------------------------------------------------------------------------------------------------------------
      Conning
  Asset Management       Managed Equity Fund          Growth                   To obtain long-term capital growth through
      Company                                                                  investment in common stocks.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To obtain investment results that parallel the
      Conning               International             Growth                   price and yield performance of publicly-traded
  Asset Management            Index Fund        International Stock            common stocks in the Morgan Stanley Capital
      Company                                                                  International, Europe, Australia, and Far East
                                                                               Index ("EAFE Index").
- --------------------------------------------------------------------------------------------------------------------------------

                               3
<PAGE>
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- --------------------------------------------------------------------------------------------------------------------------------
   INVESTMENT                   FUND                INVESTMENT                                   OBJECTIVE
   ----------                   ----                ----------                                   ---------
    MANAGER                     NAME                   TYPE
    -------                     ----                   ----
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To obtain long-term capital appreciation through
      Conning                                                                  investment primarily in common stocks of
  Asset Management       Mid-Cap Equity Fund          Growth                   U.S.-based, publicly traded companies with medium
      Company                                                                  market capitalization, defined as within the
                                                                               range of the S&P Mid-Cap 400 at the time of the
                                                                               Fund's investment.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To provide a high rate of return through
      Conning                                                                  investment in the common stock of small companies,
  Asset Management      Small-Cap Equity Fund    Aggressive Growth             making up, at one time, the smallest 20% of
      Company                                                                  U.S.-based companies on the New York Stock
                                                                               Exchange.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To seek capital appreciation, normally through
Fidelity Management &      Growth Portfolio           Growth                   purchases of common stocks, although its
  Research Company                                                             investments are not restricted to any one type of
                                                                               security.
- --------------------------------------------------------------------------------------------------------------------------------
Fidelity Management &   Equity-Income Portfolio   Growth & Income              To seek reasonable income by investing primarily
  Research Company                                                             in income-producing equity securities.
- --------------------------------------------------------------------------------------------------------------------------------
Fidelity Management &     Overseas Portfolio          Growth:                  To seek long-term growth of capital primarily
  Research Company                              International Stock            through investment in foreign securities.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To seek a high total return with reduced risk over
Fidelity Management &   Asset Manager Portfolio      Balanced                  the long-term by allocating its assets among
  Research Company                                                             domestic and foreign stocks, bonds, and short-term
                                                                               fixed income instruments.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To seek a high level of current income by
Fidelity Management &   High Income Portfolio     High Yield Bond              investing primarily in high yielding, lower-rated,
  Research Company                                                             fixed income securities, while also considering
                                                                               growth of capital.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To seek long-term capital appreciation by
                                                                               investing in equity and debt securities of
 Van Eck Associates         Worldwide Hard      Aggressive Growth:             companies engaged in the exploration, development,
     Corporation             Assets Fund             Specialty                 production, and distribution of gold and other
                                                                               natural resources such as strategic and other
                                                                               metals, minerals, forest products, oil, natural
                                                                               gas, and coal.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To obtain long-term capital appreciation by
                                                                               investing in equity securities in emerging markets
 Van Eck Associates       Worldwide Emerging    Aggressive Growth:             around the world.  The Fund emphasizes primarily
     Corporation             Markets Fund       International Stock            investment in countries that, compared to the
                                                                               world's major economies, exhibit relatively low
                                                                               gross national product per capita, as well as
                                                                               the potential for rapid economic growth.
- --------------------------------------------------------------------------------------------------------------------------------
    Frank Russell
Investment Management    Multi-Style Equity       Growth & Income              To obtain income and capital growth by investing
       Company                   Fund                                          principally in equity securities.
- --------------------------------------------------------------------------------------------------------------------------------
    Frank Russell                                                              To provide capital appreciation by assuming a
Investment Management     Aggressive Equity      Aggressive Growth             higher level of volatility than is ordinarily
       Company                   Fund                                          expected from the Multi-Style Equity Fund, by
                                                                               investing in equity securities.
- --------------------------------------------------------------------------------------------------------------------------------

                                       4
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<PAGE>
- --------------------------------------------------------------------------------------------------------------------------------
   INVESTMENT                   FUND                INVESTMENT                                   OBJECTIVE
   ----------                   ----                ----------                                   ---------
    MANAGER                     NAME                   TYPE
    -------                     ----                   ----
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To achieve favorable total return and additional
    Frank Russell                                     Growth:                  diversification for United States investors by
Investment Management       Non-U.S. Fund       International Stocks           investing primarily in equity and debt securities
       Company                                       and Bonds                 of non-United States companies and non-United
                                                                               States governments.
- --------------------------------------------------------------------------------------------------------------------------------
    Frank Russell                                                              To maximize total return through capital
Investment Management       Core Bond Fund        Growth & Income              appreciation and income by assuming a level of
       Company                                                                 volatility consistent with the broad fixed-income
                                                                               market, by investing in fixed-income securities.
- --------------------------------------------------------------------------------------------------------------------------------
J.P. Morgan Investment                                                         To provide a high total return consistent with
   Management, Inc.         Bond Portfolio        Growth & Income              moderate risk of capital and maintenance of
                                                                               liquidity.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To provide high total return from a portfolio of
                                                                               equity securities of small companies.  The Fund
J.P. Morgan Investment      Small Company        Aggressive Growth             invests at least 65% of the value of its total
   Management, Inc.           Portfolio                                        assets in the common stock of small U.S. companies
                                                                               primarily with market capitalizations less than $1
                                                                               billion.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To attain long-term growth of capital as well as
   American Century                                                            current income.  The Fund pursues a total return
      Investment         Income & Growth Fund     Growth & Income              and dividend yield that exceeds those of the S&P
   Management, Inc.                                                            500 by investing in stocks of companies with
                                                                               strong dividend growth potential.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To obtain capital growth over time by investing in
                                                                               common stocks of foreign companies considered to
   American Century                                                            have better-than-average prospects for
      Investment          International Fund    Aggressive Growth:             appreciation.  Because this Fund invests in
   Management, Inc.                             International Stock            foreign securities, a higher degree of short-term
                                                                               price volatility, or risk, is expected due to
                                                                               factors such as currency fluctuation and political
                                                                               instability.
- --------------------------------------------------------------------------------------------------------------------------------
                                                                               To attain long-term capital growth, with income as
   American Century                                                            a secondary objective.  The Fund invests primarily
      Investment              Value Fund              Growth                   in equity securities of well-established companies
   Management, Inc.                                                            that are believed by management to be undervalued
                                                                               at the time of purchase.
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>

You may change the investments that you want to use for your future
premiums by notifying our Home Office.

You may transfer your cash value among the various investment funds,
and you may withdraw money, but there are certain rules.  We don't
charge you a transaction fee for the first twelve transfers or
withdrawals in a policy year, but we charge a $25 fee for each transfer
or withdrawal after the first twelve.  (A policy year is measured
beginning on the anniversary of the date that the policy was issued,
and ending on the day before the next anniversary.)

We have the right to change or eliminate transfers in the future, although
we don't currently intend to do so.

CHARGES AND DEDUCTIONS.  There are certain costs that we charge you for
issuing your policy and keeping it in force.  This section describes
those charges -- what they are and what they cover.

SALES CHARGE.  Each time you pay a premium, we deduct a portion to
cover expenses of the policy.  Part of this deduction covers sales
charges.  We guarantee that this part of the deduction will never
exceed the following amounts:
* in the first policy year, 15% of the amount you pay up to the
  target premium and 5% of the

                               5
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<PAGE>

  amount you pay above the target premium.  (The amount of the
  target premium varies by age and risk class, and is shown in your
  policy.)
* in the 2nd through 10th Policy Years, 5% of the actual premium
  you pay;
* in the 11th Policy Year and later, 2% of the actual premium you
  pay.

For policies issued in the state of Oregon we deduct an additional 2%
of actual premium paid in all policy years.

TAX CHARGE.  The Federal government and many states and territories
impose taxes or charges on insurance premiums.  We deduct from your
premium payment the amount required to pay these taxes and charges.  We
deduct 1.3% of each premium payment to pay the Federal charge.  The
amount we deduct to pay the state and territory charges varies by
state.  It ranges from 0% to 4%, with an average of about 2.1%.

If the tax rates change, we may change the amount of the deduction to
cover the new charge.  (See Charges and Deductions - Premium Expense
Charges.)

If we are required by law to pay taxes based on the separate account,
we may charge an appropriate share to policies that invest in the
separate account.  (See Federal Tax Matters.)

SURRENDER CHARGE.  If you surrender your policy or let it lapse during
the first ten policy years, we will keep part of the cash value to help
us recover the costs of selling and issuing the policy.  This charge is
called a Contingent Deferred Sales Charge (CDSC) or, more simply, a
surrender charge.

The surrender charge is 45% of the target premium if you surrender the
policy or let it lapse during the first five policy years.  After that
the amount of the surrender charge goes down each month.  After the
10th policy year there is no charge.

There is a table in your policy that shows the amount of the target
premium and the percentage of the surrender charge for each month.

If you withdraw money from your policy or if you surrender a portion of
your policy, we will charge a pro-rated portion of the surrender
charge.

Of course, if you don't surrender all or part of your policy, or let it
lapse, or withdraw cash from it, then you will not pay a surrender
charge.

If you increase the face amount of your policy, the increase will have
its own surrender charge for the first 10 policy years following the
increase.

(See Policy Rights - Surrender, Partial Withdrawals, and Pro-Rata
Surrender; Policy Benefits - Death Benefit; and Charges and Deductions
- - Contingent Deferred Sales Charge.)

Under certain conditions, applied in a uniform and nondiscriminatory
manner, we may reduce the surrender charge. (See Adjustment of
Charges.)

ADMINISTRATIVE FEE.  We charge a monthly fee to cover your policy's
administrative cost.  This charge is $25 each month for the first
policy year, and $6 each month after the first policy year.  We will
deduct the charge from your cash value each month.

SELECTION AND ISSUE EXPENSE CHARGE.  This charge allows us to recover
part of the commissions and other costs of issuing your policy.  We
determine the amount of the charge based on the size of your policy and
on the age, sex, and risk class of the person insured under the policy.

The charge ranges from about 4 cents per $1,000 of Face Amount to about
65 cents per $1,000.  We deduct the charge from your cash value each
month for the first ten policy years.  If you increase the face amount
of your policy, there is a new charge associated with that increase
until it has been in effect for ten policy years.

COST OF INSURANCE.  Because this is a life insurance policy, it has a
death benefit.  We charge an insurance cost each month to cover the
risk that you will die and we will have to pay the death benefit.

The amount of this charge varies with the age, sex, risk class of the
person insured under the policy, and the amount of the death benefit at
risk -- if the risk of death or the amount of the death benefit is
greater, then the cost of insurance is also greater.  We deduct the
cost of insurance from your cash value each month.

We make another charge to cover mortality and expense risks under the
Policy.  We calculate this charge based on a percentage of the net
assets in each division of the separate account.  Rather than deducting
the charge from the cash value, we apply the charge by adjusting the
net rate of return in the separate account.  We guarantee that the
charge will not exceed the following amounts, shown on an annual
percentage basis:

                               6
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<PAGE>
     Policy years 1-10        .55% of net separate account assets
     Policy years 11-20       .45% of net separate account assets
     Policy years 21+         .35% of net separate account Assets
(See Charges and Deductions - Separate Account Charges.)

We pay the operating expenses of the separate account.  The investment
funds pay for their own operating expenses and investment fees.  For a
description of these charges, see Charges and Deductions - Separate
Account Charges.

The following chart shows the operating expenses of the funds as
reported for the fiscal year ending December 31, 1998:

<PAGE>
<TABLE>
- --------------------------------------------------------------------------------------
                         ANNUAL FUND OPERATING EXPENSES<F1>
                        As a Percentage of Average Net Assets
- --------------------------------------------------------------------------------------
<CAPTION>
                                             INVESTMENT
          FUND                               ADVISORY /   OTHER EXPENSES      TOTAL
                                             MANAGEMENT
                                                FEE
- --------------------------------------------------------------------------------------
                         GENERAL AMERICAN CAPITAL COMPANY
- --------------------------------------------------------------------------------------
<S>                                             <C>            <C>            <C>
S&P 500 Index Fund                              .25%           .05%           .30%
- --------------------------------------------------------------------------------------
Money Market Fund                               .125%          .08%           .205%
- --------------------------------------------------------------------------------------
Bond Index Fund                                 .25%           .05%           .30%
- --------------------------------------------------------------------------------------
Managed Equity Fund                             .40%<F2>       .10%           .50%
- --------------------------------------------------------------------------------------
Asset Allocation Fund                           .50%           .10%           .60%
- --------------------------------------------------------------------------------------
International Index Fund                        .50%<F3>       .30%           .80%
- --------------------------------------------------------------------------------------
Mid-Cap Equity Fund                             .55%<F4>       .10%           .65%
- --------------------------------------------------------------------------------------
Small-Cap Equity Fund                           .25%           .05%           .30%
- --------------------------------------------------------------------------------------
<CAPTION>
                              RUSSELL INSURANCE FUNDS
    (Amounts shown are after fee waivers and expense reimbursements described below.)
- --------------------------------------------------------------------------------------
<S>                                             <C>           <C>            <C>
Multi-Style Equity Fund                         .09%<F5>       .83%           .92%<F5>
- --------------------------------------------------------------------------------------
Aggressive Equity Fund                          .00%<F6>      1.25%          1.25%<F6>
- --------------------------------------------------------------------------------------
Non-U.S. Fund                                   .00%<F7>      1.30%          1.30%<F7>
- --------------------------------------------------------------------------------------
Core Bond Fund                                  .00%<F8>       .80%           .80%<F8>
- --------------------------------------------------------------------------------------
<CAPTION>
                          AMERICAN CENTURY VARIABLE PORTFOLIOS
- --------------------------------------------------------------------------------------
<S>                                            <C>             <C>           <C>
Income & Growth Fund                            .70%           .00%           .70%
- --------------------------------------------------------------------------------------
International Fund                             1.50%           .00%          1.50%
- --------------------------------------------------------------------------------------
Value Fund                                     1.00%           .00%          1.00%
- --------------------------------------------------------------------------------------
<CAPTION>
                               J.P. MORGAN SERIES TRUST II
- --------------------------------------------------------------------------------------
<S>                                             <C>            <C>           <C>
Bond Portfolio                                  .30%           .45%           .75%
- --------------------------------------------------------------------------------------
Small Company Portfolio                         .60%           .55%          1.15%
- --------------------------------------------------------------------------------------
<CAPTION>
                             VARIABLE INSURANCE PRODUCTS FUND
- --------------------------------------------------------------------------------------
<S>                                             <C>            <C>            <C>
Equity-Income Portfolio                         .50%           .08%           .58%
- --------------------------------------------------------------------------------------
Growth Portfolio                                .60%           .09%           .69%
- --------------------------------------------------------------------------------------
Overseas Portfolio                              .75%           .17%           .92%
- --------------------------------------------------------------------------------------
High Income Portfolio                           .59%           .12%           .71%
- --------------------------------------------------------------------------------------
<CAPTION>
                          VARIABLE INSURANCE PRODUCTS FUND II
- --------------------------------------------------------------------------------------
<S>                                             <C>            <C>            <C>
Asset Manager                                   .55%           .10%           .65%
- --------------------------------------------------------------------------------------
<CAPTION>
                           VAN ECK WORLDWIDE INSURANCE TRUST
- --------------------------------------------------------------------------------------
<S>                                            <C>             <C>           <C>
Worldwide Hard Assets Fund                     1.00%           .00%          1.00%
- --------------------------------------------------------------------------------------

Worldwide Emerging Markets Fund                1.50%           .00%          1.50%
- --------------------------------------------------------------------------------------
<PAGE>
<FN>
<F1> The Fund expenses shown above are collected from the
underlying Fund, and are not direct charges against the
Separate Account assets or reductions from the Policy's Cash
Value.  These underlying Fund Expenses are taken into
consideration in computing each Fund's net asset value, which
is used to calculate the unit values in the Separate Account.
The management fees and other expenses are more fully described
in the prospectus of each individual Fund.  The information
relating to the Fund expenses was provided by the Fund and was
not independently verified by General American.  Except as
otherwise specifically noted, the management fees and other
expenses are not currently subject to fee waivers or expense
reimbursements.

                               7
<PAGE>
<PAGE>

<F2> The fees charged by the Managed Equity Fund are stated as
a series of annual percentages of the average daily value of
the net assets of the Fund.  The percentages decrease with
respect to assets of the Fund above certain amounts, as
follows:  First $10 million, 0.40%; Next $20 million, 0.30%;
Balance over $30 million, 0.25%.

<F3> The fees charged by the International Index Fund are
stated as a series of annual percentages of the average daily
value of the net assets of the Funds.  The percentages decrease
with respect to assets of the Fund above certain amounts, as
follows:  First $10 million, 0.50%; Next $20 million, 0.40%;
Balance over $20 million, 0.30%.

<F4> The fees charged by the Mid-Cap Equity Fund are stated as
a series of annual percentages of the average daily value of
the net assets of the Funds.  The percentages decrease with
respect to assets of the Fund above certain amounts, as
follows:  First $10 million, 0.55%; Next $10 million, 0.45%;
Balance over $20 million, 0.40%.

<F5> The Manager has voluntarily agreed to waive a portion of
its 0.78% management fee, up to the full amount of that fee,
equal to the amount by which the Fund's total operating
expenses exceed 0.92% of the Fund's average daily net assets on
an annual basis, and to reimburse the Fund for all remaining
expenses after fee waivers which exceed 0.92% of average daily
net assets on an annual basis.  The management fee waivers and
reimbursements are intended to be in effect for 1999, but may
be revised or eliminated at any time thereafter without notice
to shareholders.  Absent the waiver, the management fee would
have been 0.78%, and total Fund expenses would have been 1.61%
of average daily net assets.

<F6> The Manager has voluntarily agreed to waive a portion of
its 0.95% management fee, up to the full amount of that fee,
equal to the amount by which the Fund's total operating
expenses exceed 1.25% of the Fund's average daily net assets on
an annual basis, and to reimburse the Fund for all remaining
expenses after fee waivers which exceed 1.25% of average daily
net assets on an annual basis.  The management fee waivers and
reimbursements are intended to be in effect for 1999, but may
be revised or eliminated at any time thereafter without notice
to shareholders.  Absent the waiver, the management fee would
have been 0.95%, other expenses would have been 1.27%, and
total Fund expenses would have been 2.22% of average daily net
assets.

<F7> The Manager has voluntarily agreed to waive a portion of
its 0.95% management fee, up to the full amount of that fee,
equal to the amount by which the Fund's total operating
expenses exceed 1.30% of the Fund's average daily net assets on
an annual basis, and to reimburse the Fund for all remaining
expenses after fee waivers which exceed 1.30% of average daily
net assets on an annual basis.  The management fee waivers and
reimbursements are intended to be in effect for 1999, but may
be revised or eliminated at any time thereafter without notice
to shareholders.  Absent the waiver, the management fee would
have been 0.95%, other expenses would have been 2.70%, and
total Fund expenses would have been 3.65% of average daily net
assets.

<F8> The Manager has voluntarily agreed to waive a portion of
its 0.60% management fee, up to the full amount of that fee,
equal to the amount by which the Fund's total operating
expenses exceed 0.80% of the Fund's average daily net assets on
an annual basis, and to reimburse the Fund for all remaining
expenses after fee waivers which exceed 0.80% of average daily
net assets on an annual basis.  The management fee waivers and
reimbursements are intended to be in effect for 1999, but may
be revised or eliminated at any time thereafter without notice
to shareholders.  Absent the waiver, the management fee would
have been 0.60%, other expenses would have been 1.70%, and
total Fund expenses would have been 2.30% of average daily net
assets.
</TABLE>

PREMIUMS.  Within limits, you decide how much money you want to
put into the policy.  There is a minimum premium that you have
to pay to put the policy in force.  That amount is 1/12 of the
"minimum initial annual premium amount" shown on the
specifications page of your policy.

After the policy is in force, you may pay any amount you want
as long as the cash value is always enough to cover the
surrender charge and the current month's expenses.  If you
continue to pay at least 1/12 of the minimum initial annual
premium each month (or to prepay it), and if you don't withdraw
or borrow cash from the policy, we guarantee that the policy
will not lapse during the first five policy years, even if the
cash value is not enough to cover the charges.

<PAGE>
If you have borrowed or withdrawn money from your cash value,
you can still keep your no-lapse guarantee in force for the
first five years.  Here is how it works.  Each month, we look
at the total amount of premium that you have paid into the
policy since it was issued.  We then subtract the amount of
money that you have withdrawn or borrowed.  If the amount left
is at least equal to 1/12 of the annual minimum premium,
multiplied by the number of months the policy has been in
force, then

                               8
<PAGE>
<PAGE>

your no-lapse guarantee still applies.  If not, then we will
notify you that you have 62 days to make enough of a premium
payment to restore the no-lapse guarantee.  If you do not make
the payment, your policy could lapse, or end with no value.

If you have converted a General American term insurance policy
to this policy, and if the term policy includes conversion
credits, you may apply those credits to reduce your first-year
minimum premium.

You can set up a schedule of payments, and we will send you
reminders, but you are not required to make the payments as
long as the cash value covers the surrender charge and the
current month's expenses.  (See Payment and Allocation of
Premiums.)

DEATH BENEFIT.  If the person insured under the policy dies
while the policy is in force, we will pay a death benefit to
the beneficiary.  You can select one of three death benefits at
the time the policy is issued:
* Option A: The death benefit is the greater of the face
  amount of the policy or an "applicable percentage" of the
  cash value.
* Option B: The death benefit is the greater of the face
  amount of the policy plus the cash value, or an
  "applicable percentage" of the cash value.
* Option C: The death benefit is the greater of the face
  amount of the policy, or the cash value multiplied by an
  attained age factor.

As long as the policy remains in force and the person insured
is less than 100 years old, the minimum death benefit under any
death benefit option will be at least the current face amount.

We will increase the death benefit by any dividends earned
prior to the death of the person insured, and by the cost of
insurance from the date of death to the end of the month, and
will reduce it by any outstanding loans and interest.  We will
pay the death benefit according to the settlement options
available at the time of death.  (See Policy Benefits - Death
Benefit.)

The minimum face amount at issue is generally $50,000 under our
current rules.  Subject to certain restrictions, you may change
the face amount and the death benefit option.  In certain cases
we may require evidence that the person insured under the
policy is still insurable.  (See Change in Death Benefit
Option, and Change In Face Amount.)

You may include additional insurance benefits with your policy.
These are described under General Matters - Additional
Insurance Benefits.  If you elect any additional benefits, we
will deduct the charges for those benefits from your Cash
Value.

CASH VALUE.  Your Policy has a cash value that is the total
amount credited to you in the separate account, the loan
account, and the general account.  The cash value increases by
the amount of net premium payments, and decreases by partial
withdrawals and expense charges for the policy.  It may either
increase or decrease based on the investment experience of the
separate account divisions that you have selected.  (See Policy
Benefits - Cash Value.)

There is no minimum guaranteed cash value.

POLICY LOANS. You may borrow against the cash value of your
policy. The loan value is the maximum amount that you may
borrow. The loan value is:
    the cash value on the date we receive the loan
    request;
  plus interest on the loan balance to the next anniversary
    date, calculated at the guaranteed general account
    interest rate;
  minus interest on the new loan to the next policy
    anniversary;
  minus any loans and interest already outstanding;
  minus any surrender charges;
  minus monthly deductions to the next policy anniversary.

When you borrow against the policy, we will take the money from
the general account and the divisions of the separate account
in proportion to your balances in each account.

Loan interest is due at each policy anniversary  If you don't
pay the loan interest, we will add it to the amount of the
loan.

You may repay all or part of the loan at any time.  When you
make a loan payment, we will put the money back into the
general account or the divisions of the separate account in the
same percentages used them to make the loan.

<PAGE>
<PAGE>

When we pay out the proceeds of your policy, either as a death
benefit or as a policy surrender, we will deduct any
outstanding loans and interest from the amount we pay.  (See
Policy Rights - Loans.)

Loans taken from or secured by a policy may have Federal income
tax consequences.  (See Federal Tax Matters.)

SURRENDER, PARTIAL WITHDRAWALS, AND PRO-RATA SURRENDER.  You
may surrender the policy at any time while it is in force.  We
will pay you the cash surrender value, plus dividends (if any)
earned prior to the surrender.

After the first year you may request a partial withdrawal of
your cash surrender value.  Normally,

                               9
<PAGE>
<PAGE>

withdrawing a portion of your cash surrender value will reduce
your death benefit by the amount of the withdrawal.  However,
if you have included the Anniversary Partial Withdrawal Rider
on your policy, you may withdraw a portion of your cash
surrender value without reducing the death benefit.  Under this
rider, there are limits on how much you can withdraw, and the
withdrawal must be at the policy anniversary.  You can find
more information about the rider under General Matters -
Additional Insurance Benefits.

You may also request a pro-rata surrender of the policy, which
allows you to surrender part of the policy and keep the rest in
force.  You can find more information under Policy Rights -
Surrender, Partial Withdrawals, and Pro-Rata Surrender.

A surrender, partial withdrawal, or Pro-Rata Surrender may have
Federal income tax consequences.  We suggest that you discuss
your situation with a competent tax adviser before taking one
of these steps.  (See Federal Tax Matters.)

ILLUSTRATIONS OF DEATH BENEFITS AND CASH SURRENDER VALUES.  The
death benefit and cash surrender value of your policy will
depend on how well your investments perform.  In Appendix A we
have illustrated some sample policies.  Depending on the rate
of return, the values may increase or decrease.  In order to
help you to understand the cost of the policy, we also show how
your premium would grow if you simply invested it at 5%
interest, compounded annually.

If you surrender your policy in the first few years, the cash
surrender value that you receive may be low compared to what
you would have accumulated by investing the premiums at
interest.  In this case, the insurance protection that you
received while the policy was in force will have been
expensive.

We will provide you with an illustration showing projected
future cash values if you request it in writing.  We may charge
a fee of up to $25 for preparing the illustration.

TAX CONSEQUENCES OF THE POLICY.  If your policy was issued in a
standard premium class, then we believe that it qualifies as a
life insurance contract for Federal income tax purposes.
Similarly, if your policy was issued on a guaranteed issue or
simplified issue basis, we believe that it will qualify as a
life insurance contract.  However, if the policy was issued on
a substandard basis, it is not clear whether it will qualify as
a life insurance contract for tax purposes.  The IRS has
provided very limited guidance in this area.

Assuming that the policy does qualify as a life insurance
contract for Federal income tax purposes, then we believe that
the cash value should be subject to the same tax treatment as
the cash value of a conventional fixed-benefit contract.  This
means that growth in the cash value will not be taxed until you
receive a distribution.

There are some actions that may trigger a tax.  If you transfer
ownership to someone else, or if you surrender the policy or
withdraw cash from it, you may have to pay a tax.  Similarly,
if you let the policy lapse while there is an outstanding loan,
or if you exchange the policy for another policy, you may owe a
tax.  (See Federal Tax Matters.)

If you pay too much in premium, your policy may become a
"modified endowment contract."  If that happens, then some pre-
death distributions of cash will be taxable income.  If there
is more cash value in the policy that what you actually paid in
premiums, you will taxed on the excess in the year in which you
receive a distribution.  You may withdraw the amount that you
paid into the policy without being taxed, but only after you
have received the excess as taxable income.  In addition, any
taxable distribution that you receive before age 59 1/2 will
generally be subject to an additional 10% tax.

On the other hand, if the policy is not a modified endowment
contract, then distributions are normally treated first as a
return of your "cost basis," or investment in the contract.  In
this case, you may withdraw up to the amount of the premiums
you paid with no tax consequences.  After that, any additional
distributions are treated as taxable income.  In addition,
loans from the policy are not treated as distributions, so they
are not considered taxable income.  Finally, if you policy is
not a modified endowment contract, neither distributions or
loans are subject to the 10% additional tax (See Federal Tax
Matters.)

Please note that General American is neither a law firm nor a
tax adviser, so we cannot give you legal or tax advice.  If you
have specific legal or tax questions, we suggest that you
consult a qualified professional in these fields.

<PAGE>
DIVIDENDS. We do not expect to pay dividends on this Policy.
(See Dividends.)

                         * * *

This Prospectus describes only those aspects of the Policy that
relate to the Separate Account, except where General Account
matters are specifically mentioned.  For a brief summary of the
aspects of the Policy relating to the General Account, see The
General Account.

                           10
<PAGE>
<PAGE>

                        DEFINITIONS

ATTAINED AGE - The Issue Age of the Insured plus the number of
completed Policy Years.

BENEFICIARY - The person(s) named in the application or by
later designation to receive Policy proceeds in the event of
the Insured's death.  A Beneficiary may be changed as set forth
in the Policy and this Prospectus.

CASH VALUE - The total amount that a Policy provides for
investment at any time.  It is equal to the total of the
amounts credited to the Owner in the Separate Account and the
General Account, including the Loan Account.

CASH SURRENDER VALUE - The Cash Value of a Policy on the date
of surrender, less any Indebtedness, and less any surrender
charges.

DIVISION - A subaccount of the Separate Account.  Each Division
invests exclusively in the shares of a corresponding Fund of
either General American Capital Company, Russell Insurance
Funds, American Century Variable Portfolios, J.P. Morgan Series
Trust II, Variable Insurance Products Fund, Variable Insurance
Products Fund II, or Van Eck Worldwide Insurance Trust.

EFFECTIVE DATE - The date as of which insurance coverage begins
under a policy.

FACE AMOUNT - The minimum death benefit under the Policy so
long as the Policy remains in force.

FUND - A separate investment portfolio of General American
Capital Company, Russell Insurance Funds, American Century
Variable Portfolios, J.P. Morgan Series Trust II, Variable
Insurance Products Fund, Variable Insurance Products Fund II,
or Van Eck Worldwide Insurance Trust.  Although sometimes
referred to elsewhere as "portfolios," they are referred to in
this prospectus as "Funds," except where "Portfolio" is part of
their name.

GENERAL ACCOUNT - The assets of the Company other than those
allocated to the Separate Account or any other separate
account.  The Loan Account is part of the General Account.

HOME OFFICE - The service office of General American Life
Insurance Company, the mailing address of which is P.O. Box
14490, St. Louis, Missouri 63178.

INDEBTEDNESS - The sum of all unpaid Policy Loans and accrued
interest on loans.

INSURED - The person whose life is insured under the Policy.

INVESTMENT START DATE - The date the initial premium is applied
to the General Account and/or the Divisions of the Separate
Account.  This date is the later of the Issue Date or the date
the initial premium is received at General American's Home
Office.

ISSUE AGE - The Insured's age at his or her nearest birthday as
of the date the Policy is issued.

ISSUE DATE - The date from which Policy Anniversaries, Policy
Years, and Policy Months are measured.

LOAN ACCOUNT - The account of the Company to which amounts
securing Policy Loans are allocated.  The Loan Account is part
of General American's General Account.

LOAN SUBACCOUNT - A Loan Subaccount exists for the General
Account and for each Division of the Separate Account.  Any
Cash Value transferred to the Loan Account will be allocated to
the appropriate Loan Subaccount to reflect the origin of the
Cash Value.  At any point in time, the Loan Account will equal
the sum of all the Loan Subaccounts.

MONTHLY ANNIVERSARY - The same date in each succeeding month as
the Issue Date except that whenever the Monthly Anniversary
falls on a date other than a Valuation Date, the Monthly
Anniversary will be deemed the next Valuation Date.  If any
Monthly Anniversary would be the 29th, 30th, or 31st day of a
month that does not have that number of days, then the Monthly
Anniversary will be the last day of that month.

NET PREMIUM - The premium less the premium expense charges
(consisting of the sales charge and the premium tax charge).

OWNER - The Owner of a Policy, as designated in the application
or as subsequently changed.

POLICY - The flexible premium variable life insurance Policy
offered by the Company and described in this Prospectus.

<PAGE>
POLICY ANNIVERSARY - The same date each year as the Issue Date.

POLICY MONTH - A month beginning on the Monthly Anniversary.

POLICY YEAR - A period beginning on a Policy Anniversary and
ending on the day immediately preceding the next Policy
Anniversary.

                              11
<PAGE>
<PAGE>

PORTFOLIO - see Fund.

PRO-RATA SURRENDER - A requested reduction of both the Face
Amount and the Cash Value by a given percentage.

SEC - The United States Securities and Exchange Commission.

SEPARATE ACCOUNT - General American Separate Account Eleven, a
separate investment account established by the Company to
receive and invest the Net Premiums paid under the Policy, and
certain other variable life policies, and allocated by the
Owner to provide variable benefits.

TARGET PREMIUM - A premium calculated when a Policy is issued,
based on the Insured's age, sex (except in unisex policies) and
risk class.  The target premium is used to calculate the first
year's premium expense charge, the contingent deferred sales
charge, and agent compensation under the Policy.  (See Charges
and Deductions.)

VALUATION DATE - Each day that the New York Stock Exchange is
open for trading and the Company is open for business.  The
Company is not open for business the day after Thanksgiving.

VALUATION PERIOD - The period between two successive Valuation
Dates, commencing at 4:00 p.m. (Eastern Standard Time) on a
Valuation Date and ending 4:00 p.m. on the next succeeding
Valuation Date.

            THE COMPANY AND THE SEPARATE ACCOUNT

                        THE COMPANY

General American Life Insurance Company ("General American" or
"the Company") was originally incorporated as a stock company
in 1933.  In 1936, General American initiated a program to
convert to a mutual life insurance company.  In 1997, General
American's policyholders approved a reorganization of the
Company into a mutual holding company structure under which
General American became a stock company wholly owned by
GenAmerica Corporation, an intermediate stock holding company.
GenAmerica is wholly owned by General American Mutual Holding
Company, a mutual holding company organized under Missouri law.
On January 28, 1999, the Board of General American Mutual
Holding Company instructed its management to develop a plan for
demutualization and a public offering of stock.  Owners of
variable life insurance contracts issued by General American as
of that date may be eligible for a distribution of value in
connection with such a demutualization when and if it occurs.

General American is principally engaged in writing individual
and group life insurance policies and annuity contracts.  As of
December 31, 1998, it had consolidated assets of approximately
$29 billion.  It is admitted to do business in 49 states, the
District of Columbia, Puerto Rico, and in ten Canadian
provinces.  The principal offices of General American are
located at 700 Market Street, St. Louis, Missouri 63101.  The
mailing address of General American's service center ("the Home
Office") is P.O. Box 14490, St. Louis, Missouri 63178.

                    THE SEPARATE ACCOUNT

General American Life Insurance Company Separate Account Eleven
("the Separate Account") was established by General American as
a separate investment account on January 24, 1985 under
Missouri law.  The Separate Account will receive and invest the
Net Premiums paid under this Policy and allocated to it.  In
addition, the Separate Account currently receives and invests
Net Premiums for other classes of flexible premium variable
life insurance policies and might do so for additional classes
in the future.

The Separate Account has been registered with the SEC as a unit
investment trust under the Investment Company Act of 1940 ("the
1940 Act") and meets the definition of a "separate account"
under Federal securities laws.  Registration with the SEC does
not involve supervision of the management or investment
practices or policies of the Separate Account or General
American by the SEC.

The Separate Account currently is divided into twenty-four
Divisions.  Divisions invest in corresponding Funds from one of
seven open-end, diversified management investment companies:
(1) General American Capital Company, (2) Russell Insurance
Funds, (3) American Century Variable Portfolios, (4) J.P.
Morgan Series Trust II, (5) Variable Insurance Products Fund,
(6) Variable Insurance Products Fund II, and (7) Van Eck
Worldwide Insurance Trust.  Income and both realized and
unrealized gains or losses from the assets of each Division of
the Separate Account are credited to or charged against that
Division without regard to income, gains, or losses from any
other Division of the Separate Account or arising out of any
other business General American may conduct.

<PAGE>
Although the assets of the Separate Account are the property of
General American, the assets in the Separate Account equal to
the reserves and other liabilities of the Separate Account are
not chargeable with liabilities arising out of any other
business

                              12

<PAGE>
<PAGE>

which General American may conduct.  The assets of the Separate
Account are available to cover the general liabilities of
General American only to the extent that the Separate Account's
assets exceed its liabilities arising under the Policies.  From
time to time, the Company may transfer to its General Account
any assets of the Separate Account that exceed the reserves and
the Policy liabilities of the Separate Account (which will
always be at least equal to the aggregate Policy value
allocated to the Separate Account under the Policies).  Before
making any such transfers, General American will consider any
possible adverse impact the transfer may have on the Separate
Account.

              GENERAL AMERICAN CAPITAL COMPANY

General American Capital Company ("the Capital Company") is an
open-end, diversified management investment company which was
incorporated in Maryland on November 15, 1985, and commenced
operations on October 1, 1987.  Only the Funds described in
this section of the Prospectus are currently available as
investment choices for this Policy even though additional Funds
may be described in the prospectus for the Capital Company.
Shares of Capital Company are currently offered to separate
accounts established by General American Life Insurance Company
and affiliates.  The Capital Company's investment adviser is
Conning Asset Management Company ("the Advisor"), an indirect,
majority-owned subsidiary of General American.  The adviser
selects investments for the Funds.

The investment objectives and policies of each Fund are
summarized below:

     S&P 500 INDEX FUND: The investment objective of this Fund
     is to provide investment results that parallel the price
     and yield performance of publicly-traded common stocks in
     the aggregate.  The Fund uses the Standard & Poor's
     Composite Index of 500 Stocks ("the S&P Index") as its
     standard for performance comparison.  The Fund attempts
     to duplicate the performance of the S&P Index and
     includes dividend income as a component of the Fund's
     total return.  The Fund is not managed by Standard &
     Poor's.

     THE MONEY MARKET FUND: The investment objective of the
     Money Market Fund is to obtain the highest level of
     current income which is consistent with the preservation
     of capital and maintenance of liquidity.  The Fund
     invests primarily in high-quality, short-term money
     market instruments.  An investment in the Money Market
     Fund is neither insured nor guaranteed by the U.S.
     Government.

     BOND INDEX FUND: The investment objective of this Fund is
     to provide a rate of return that reflects the performance
     of the publicly-traded bond market as a whole.  The Fund
     uses the Lehman Brothers Government/Corporate Bond Index
     as its standard for performance comparison.

     MANAGED EQUITY FUND: The investment objective of this
     Fund is long-term growth of capital, obtained by
     investing primarily in common stocks.  Securing moderate
     current income is a secondary objective.

     ASSET ALLOCATION FUND: The investment objective of this
     Fund is a high rate of long-term total return composed of
     capital growth and income payments.  Preservation of
     capital is the secondary objective and chief limit on
     investment risk.  The Fund will invest only in those
     types of securities that the other Capital Company Funds
     may invest in.  The Asset Allocation Fund invests in a
     combination of common stocks, bonds, or money market
     instruments in accordance with guidelines established
     from time to time by Capital Company's Board of
     Directors.

     INTERNATIONAL INDEX FUND: The investment objective of
     this Fund is to obtain investment results that parallel
     the price and yield performance of publicly-traded common
     stocks in the Morgan Stanley Capital International
     ("MSCI") Europe, Australia and Far East Index ("EAFE").

     MID-CAP EQUITY FUND: The investment objective of this
     Fund is capital appreciation.  It pursues this objective
     by investing primarily in common stocks of United States-
     based, publicly traded companies with medium market
     capitalizations falling within the capitalization range
     of the S&P Mid-Cap 400 at the time of the Fund's
     investment.

<PAGE>
     SMALL-CAP EQUITY FUND: The investment objective of this
     Fund is to provide a rate of return that corresponds to
     the performance of the common stock of small companies,
     while incurring a level of risk that is generally equal
     to the risks associated with small company common stock.
     The Fund attempts to duplicate the performance of the
     smallest 20% of companies, based on capitalization size,
     that are based in the United States and listed on the New
     York Stock Exchange ("NYSE").

                              13
     <PAGE>
<PAGE>

                  RUSSELL INSURANCE FUNDS

Russell Insurance Funds ("RIF") is organized as a Massachusetts
business trust under a Master Trust Agreement dated July 11,
1996.  RIF is authorized to issue an unlimited number of shares
evidencing beneficial interests in different investment Funds,
which interests may be offered in one or more classes.  RIF is
a diversified open end management investment company, commonly
known as a "mutual fund."  Frank Russell Company, which is a
consultant to RIF, has been primarily engaged since 1969 in
providing asset management consulting services to large
corporate employee benefit funds.  Major components of its
consulting services are: (i) quantitative and qualitative
research and evaluation aimed at identifying the most
appropriate investment management firms to invest large pools
of assets in accord with specific investment objectives and
styles; and (ii) the development of strategies for investing
assets using "multi-style, multi-manager diversification."
This is a method for investing large pools of assets by
dividing the assets into segments to be invested using
different investment styles, and selecting money managers for
each segment based upon their expertise in that style of
investment.  General management of RIF is provided by Frank
Russell Investment Management Company, a wholly-owned
subsidiary of Frank Russell Company, which furnishes officers
and staff required to manage and administer RIF on a day-to-day
basis.

The investment objectives and policies of each Fund are
summarized below:

     MULTI-STYLE EQUITY FUND: The investment objective of this
     Fund is to provide income and capital growth by investing
     principally in equity securities.

     AGGRESSIVE EQUITY FUND: This Fund seeks to provide
     capital appreciation by assuming a higher level of
     volatility than is ordinarily expected from the Multi-
     Style Equity Fund while still investing in equity
     securities.

     NON-U.S. FUND: This Fund's objective is to provide
     favorable total return and additional diversification for
     U.S.  investors by investing primarily in equity and
     fixed-income securities of non-U.S. companies, and
     securities issued by non-U.S. governments.

     CORE BOND FUND: This Fund's objective is to maximize
     total return, through capital appreciation and income, by
     assuming a level of volatility consistent with the broad
     fixed-income market.  The Fund invests in fixed-income
     securities.

            AMERICAN CENTURY VARIABLE PORTFOLIOS

American Century Variable Portfolios, Inc., a part of American
Century Investments, was organized as a Maryland corporation on
June 4, 1987.  It is a diversified, open-end management
investment company.  Its business and affairs are managed by
its officers under the Direction of its Board of Directors.
American Century Investment Management, Inc. serves as the
investment manager of the fund.

The investment objective and policies of the Funds are
summarized below:

     INCOME & GROWTH FUND:  The investment objective of this
     Fund is to attain long-term growth of capital as well as
     current income.  The Fund pursues a total return and
     dividend yield that exceed those of the S&P 500 by
     investing in stocks of companies with strong dividend
     growth potential.  Dividends are paid monthly.

     INTERNATIONAL FUND:  This Fund seeks capital growth over
     time by investing in common stocks of foreign companies
     considered to have better-than-average prospects for
     appreciation.  Because the Fund invests in foreign
     securities, a higher degree of short-term price
     volatility, or risk, is expected due to factors such as
     currency fluctuation and political instability.

     VALUE FUND:  This Fund is a core equity fund that seeks
     long-term capital growth.  Income is a secondary
     objective.  To pursue its objectives, the fund invests
     primarily in equity securities of well-established
     companies that are believed by management to be
     undervalued at the time of purchase.  Please note that
     this is an equity investment and, by nature, may
     fluctuate in value.

<PAGE>
               J.P. MORGAN SERIES TRUST II

J.P. Morgan Series Trust II is an open-end diversified
management investment company organized as a Delaware Business
Trust.  The Trust's investment adviser is J.P. Morgan
Investment Management, Inc., a registered investment adviser
and a wholly owned subsidiary of J.P. Morgan & Co.,
Incorporated, a bank holding company organized under the laws
of Delaware.

The investment objective and policies of the Funds are
summarized below:

     BOND PORTFOLIO:  This Fund seeks to provide a high total
     return consistent with moderate risk of capital and
     maintenance of liquidity.  The Fund is designed for
     investors who seek a total return over time that is
     higher than that generally

                              14

<PAGE>
<PAGE>
     available from a portfolio of short-term obligations
     while acknowledging the greater price fluctuation of
     longer-term instruments.

     SMALL COMPANY PORTFOLIO:  The investment objective of
     this Fund is to provide high total return from a
     portfolio of equity securities of small companies.  The
     Fund invests at least 65% of the value of its total
     assets in the common stock of small U.S. Companies
     primarily with market capitalizations less than $1
     billion.  The Fund is designed for investors who are
     willing to assume the somewhat higher risk of investing
     in small companies in order to seek a higher return over
     time than might be expected from a portfolio of stocks of
     large companies.

             VARIABLE INSURANCE PRODUCTS FUND

Variable Insurance Products Fund ("VIP") is an open-end,
diversified management investment company organized as a
Massachusetts business trust on November 13, 1981.  Only the
Funds described in this section of the Prospectus are currently
available as investment choices for this Policy even though
additional Funds may be described in the prospectus for VIP.
VIP shares are purchased by insurance companies to fund
benefits under variable insurance and annuity policies.
Fidelity Management & Research Company ("FMR") of Boston,
Massachusetts is the Funds' Manager.

The investment objectives and policies of each Fund are
summarized below:

     EQUITY-INCOME PORTFOLIO: The investment objective of this
     Fund is income, obtained by investing primarily in
     income-producing equity securities.  In choosing these
     securities, FMR will also consider the potential for
     capital appreciation.  The Fund's goal is to achieve a
     yield which exceeds the composite yield on the securities
     comprising the Standard & Poor's Composite Index of 500
     Stocks.

     GROWTH PORTFOLIO: The investment objective of this Fund
     is capital appreciation.  The Fund normally purchases
     common stocks, although its investments are not
     restricted to any one type of security.  Capital
     appreciation may also be obtained from other types of
     securities, including bonds and preferred stocks.

     OVERSEAS PORTFOLIO: The investment objective of this Fund
     is long-term growth of capital.  The Fund invests
     primarily in foreign securities.  The Overseas Portfolio
     provides a means for investors to diversify their own
     portfolios by participation in companies and economies
     outside of the United States.

     HIGH INCOME PORTFOLIO:  The investment objective of this
     Fund is a high level of current income.  The Fund seeks
     to fulfill the objective by investing primarily in high-
     yielding, lower-rated, fixed-income securities, while
     also considering growth of capital.  Lower-rated
     securities, commonly referred to as "junk bonds," involve
     greater risk of default or price change than securities
     assigned a higher quality rating.

            VARIABLE INSURANCE PRODUCTS FUND II

Variable Insurance Products Fund II ("VIP II") is an open-end,
diversified management investment company organized as a
Massachusetts business trust on March 21, 1988.  Only the Fund
described in this section of the Prospectus is currently
available as an investment choice for this Policy even though
additional Funds may be described in the prospectus for VIP II.
VIP II shares are purchased by insurance companies to fund
benefits under variable insurance and annuity policies.  FMR is
the Fund's manager.

The investment objective and policies of the Funds are
summarized below:

     ASSET MANAGER:  The investment objective of this Fund is
     to seek a high total return with reduced risk over the
     long-term by allocating its assets among domestic and
     foreign stocks, bonds, and short-term fixed income
     instruments.

            VAN ECK WORLDWIDE INSURANCE TRUST

Van Eck Worldwide Insurance Trust ("Van Eck") is an open-end
management investment company organized as a Massachusetts
business trust on January 7, 1987.  Only the Funds described
in this section of the Prospectus is currently available as an
investment choice for this Policy even though additional Funds
may be described in the prospectus for Van Eck.  Shares of Van
Eck are offered only to separate accounts of various insurance
companies to support benefits of variable insurance and annuity
policies.  The assets of Van Eck are managed by Van Eck
Associates Corporation of New York, New York.

<PAGE>
The investment objectives and policies of the Fund are
summarized below:

     WORLDWIDE HARD ASSETS FUND:  The investment objective of
     the Fund is to seek long-term capital appreciation by
     investing in equity and debt securities of companies
     engaged in the exploration, development, production, and
     distribution of one or more of the following:  (i)
     precious metals, (ii) ferrous and non-ferrous

                              15

<PAGE>
<PAGE>
     metals, (iii) oil and gas, (iv) forest products, (v) real
     estate, and (vi) other basic non-agricultural commodities
     (together, "Hard Assets").  Current income is not an
     objective.

     WORLDWIDE EMERGING MARKETS FUND:  The investment
     objective of this Fund is to obtain long-term capital
     appreciation by investing in equity securities in
     emerging markets around the world.  The Fund emphasizes
     primarily investment in countries that, compared to the
     world's major economies, exhibit relatively low gross
     national product per capita, as well as the potential for
     rapid economic growth.

THERE IS NO ASSURANCE THAT ANY OF THE FUNDS WILL ACHIEVE ITS
STATED OBJECTIVE.  It is conceivable that in the future it may
be disadvantageous for Funds to offer shares to separate
accounts of various insurance companies to serve as the
investment medium for their variable products or for both
variable life and annuity separate accounts to invest
simultaneously in a Fund.  The Boards of Trustees of RIF, VIP,
VIP II, and Van Eck, the Boards of Directors of Capital
Company, American Century, and J.P. Morgan, the respective
Advisors of each Fund, and the Company and any other insurance
companies participating in the Funds are required to monitor
events to identify any material irreconcilable conflicts that
may possibly arise, and to determine what action, if any,
should be taken in response to those events or conflicts.  A
more detailed description of the Funds, their investment
policies, restrictions, risks, and charges is in the
prospectuses for each Fund, which must accompany or precede
this Prospectus and which should be read carefully.

    ADDITION, DELETION, OR SUBSTITUTION OF INVESTMENTS

The Company reserves the right, subject to compliance with
applicable law, to make additions to, deletions from, or
substitutions for the shares that are held by the Separate
Account or that the Separate Account may purchase.  The Company
reserves the right to eliminate the shares of any of the Funds
and to substitute shares of another Fund of Capital Company,
RIF, VIP, VIP II, Van Eck, American Century, J.P. Morgan or of
another registered open-end investment company if the shares of
a Fund are no longer available for investment or if in its
judgment further investment in any Fund becomes inappropriate
in view of the purposes of the Separate Account.  The Company
will not substitute any shares attributable to an Owner's
interest in a Division of the Separate Account without notice
to the Owner and prior approval of the SEC, to the extent
required by the 1940 Act or other applicable law.  Nothing
contained in this Prospectus shall prevent the Separate Account
from purchasing other securities for other series or classes of
policies, or from permitting a conversion between series or
classes of policies on the basis of requests made by Owners.

The Company also reserves the right to establish additional
Divisions of the Separate Account, each of which would invest
in a new Fund with a specified investment objective.  New
Divisions may be established when, in the sole discretion of
the Company, marketing needs or investment conditions warrant.
Any new Division will be made available to existing Owners on a
basis to be determined by the Company.  To the extent approved
by the SEC, the Company may also eliminate or combine one or
more Divisions, substitute one Division for another Division,
or transfer assets between Divisions if, in its sole
discretion, marketing, tax, or investment conditions warrant.

In the event of a substitution or change, the Company may, if
it considers it necessary, make such changes in the Policy by
appropriate endorsement and offer conversion options required
by law, if any.  The Company will notify all Owners of any such
changes.

If deemed by the Company to be in the best interests of persons
having voting rights under the Policy, and to the extent any
necessary SEC approvals or Owner votes are obtained, the
Separate Account may be: (a) operated as a management company
under the 1940 Act; (b) de-registered under that Act in the
event such registration is no longer required; or (c) combined
with other separate accounts of the Company.  To the extent
permitted by applicable law, the Company may also transfer the
assets of the Separate Account associated with the Policy to
another separate account.

                      POLICY BENEFITS

                       DEATH BENEFIT

As long as the Policy remains in force (See Payment and
Allocation of Premiums - Policy Lapse and Reinstatement), the
Company will, upon receipt of proof of the Insured's death at
its Home Office, pay the death benefit  in a lump sum.  The
amount of the death benefit payable will be determined at the
end of the Valuation Period during which the Insured's death
occurred.  The death benefit will be paid to the surviving
Beneficiary or Beneficiaries specified in the application or as
subsequently changed.

<PAGE>
The Policy provides three death benefit options:  "Death
Benefit Option A," "Death Benefit Option B," and "Death Benefit
Option C."  The death benefit under all options will never be
less than the current Face Amount of the Policy (less
Indebtedness) as long as the Policy remains in force. (See
Payment

                               16
<PAGE>
<PAGE>

and Allocation of Premiums - Policy Lapse and Reinstatement.)
The current minimum Face Amount is generally $50,000.

DEATH BENEFIT OPTION A.  Under Death Benefit Option A, the
death benefit until the Insured reaches Attained Age 100 is the
current Face Amount of the Policy or, if greater, the
applicable percentage of Cash Value on the date of death.  At
Attained Age 100 and above, the death benefit is 101% of the
Cash Value.  The applicable percentage is 250% for an Insured
reaching Attained Age 40 or below on the Policy Anniversary
prior to the date of death.  For Insureds with an a Attained
Age over 40 on that Policy Anniversary, the percentage is lower
and declines with age as shown in the Applicable Percentage of
Cash Value Table shown below.  Accordingly, under Death Benefit
Option A the death benefit will remain level at the Face Amount
unless the applicable percentage of Cash Value exceeds the
current Face Amount, in which case the amount of the death
benefit will vary as the Cash Value varies.  (See Illustrations
of Death Benefits and Cash Values, Appendix A.)

DEATH BENEFIT OPTION B.  Under Death Benefit Option B, the
death benefit until the Insured reaches Attained Age 100 is
equal to the current Face Amount plus the Cash Value of the
Policy on the date of death or, if greater, the applicable
percentage of the Cash Value on the date of death.  At Attained
Age 100 and above, the death benefit is 101% of the Cash Value.
The applicable percentage is the same as under Death Benefit
Option A: 250% for an Insured Attained Age 40 or below on the
Policy Anniversary prior to the date of death, and for Insureds
with an Attained Age over 40 on that Policy Anniversary the
percentage declines as shown in the Applicable Percentage of
Cash Value Table shown below.  Accordingly, under Death Benefit
Option B the amount of the death benefit will always vary as
the Cash Value varies (but will never be less than the Face
Amount).  (See Illustrations of Death Benefits and Cash Values,
Appendix A.)

- ---------------------------------------------------------------
         APPLICABLE PERCENTAGE OF CASH VALUE TABLE
             FOR INSUREDS LESS THAN AGE 100<F*>
- ---------------------------------------------------------------
   Insured Person's Age     Policy Account Multiple Percentage
- ---------------------------------------------------------------
        40 or under                        250%
- ---------------------------------------------------------------
            45                             215%
- ---------------------------------------------------------------
            50                             185%
- ---------------------------------------------------------------
            55                             150%
- ---------------------------------------------------------------
            60                             130%
- ---------------------------------------------------------------
            65                             120%
- ---------------------------------------------------------------
            70                             115%
- ---------------------------------------------------------------
         78 to 90                          105%
- ---------------------------------------------------------------
         95 to 99                          101%
- ---------------------------------------------------------------
[FN]
<F*>For ages that are not shown on this table, the applicable
percentage multiples will decrease by a ratable portion for
each full year.

DEATH BENEFIT OPTION C.  Under Death Benefit Option C, the
death benefit is equal to the current Face Amount of the Policy
or, if greater, the Cash Value on the date of death multiplied
by the "Attained Age factor" (a list of sample Attained Age
factors is shown in the Sample Attained Age Factor Table
below).  At Attained Age 100 and above, the death benefit is
101% of the Cash Value.  Accordingly, under Death Benefit
Option C the death benefit will remain level at the Face Amount
unless the Cash Value multiplied by the Attained Age factor
exceeds the current Face Amount, in which case the amount of
the death benefit will vary as the Cash Value varies.  (See
Illustrations of Death Benefits and Cash Values, Appendix A.)

<PAGE>
<TABLE>
- ------------------------------------------------------------------------
                     DEATH BENEFIT OPTION C
                SAMPLE ATTAINED AGE FACTOR TABLE
                        NON-SMOKER RATES
- ------------------------------------------------------------------------
<CAPTION>
INSURED ATTAINED AGE       MALE LIVES FACTOR         FEMALE LIVES FACTOR
- ------------------------------------------------------------------------
<S>                             <C>                        <C>
         20                     7.005753                   7.978495
- ------------------------------------------------------------------------
         25                     6.022987                   6.777620
- ------------------------------------------------------------------------
         30                     5.118855                   5.739715
- ------------------------------------------------------------------------
         35                     4.326687                   4.852022
- ------------------------------------------------------------------------
         40                     3.657390                   4.105161
- ------------------------------------------------------------------------
         45                     3.101789                   3.489815
- ------------------------------------------------------------------------
         50                     2.642973                   2.978976
- ------------------------------------------------------------------------
         55                     2.266395                   2.555211
- ------------------------------------------------------------------------
         60                     1.962872                   2.203321
- ------------------------------------------------------------------------
         65                     1.720583                   1.909085
- ------------------------------------------------------------------------
         70                     1.531494                   1.672354
- ------------------------------------------------------------------------
         75                     1.386501                   1.480860
- ------------------------------------------------------------------------
         80                     1.280475                   1.337304
- ------------------------------------------------------------------------
         85                     1.201521                   1.231035
- ------------------------------------------------------------------------
         90                     1.145430                   1.156319
- ------------------------------------------------------------------------
         95                     1.089164                   1.090579
- ------------------------------------------------------------------------
</TABLE>

CHANGES IN DEATH BENEFIT OPTION.  If the Policy was issued with
either Death Benefit Option A or Death Benefit Option B, the
death benefit option may be changed.  A request for change must
be made to the Company in writing.  The effective date of such
a change will be the Monthly Anniversary on or following the
date the Company receives the change request.  A change in
death benefit option may have Federal income tax consequences.
(See Federal Tax Matters.)

A Death Benefit Option A Policy may be changed to have Death
Benefit Option B.  The Face Amount will be decreased to equal
the death benefit less the Cash Value on the effective date of
change.  A Death

                               17
<PAGE>
<PAGE>

Benefit Option B Policy may be changed to have Death Benefit
Option A.  The Face Amount will be increased to equal the death
benefit on the effective date of change.  A Policy issued under
Death Benefit Option C may not change to either Death Benefit
Option A or Death Benefit Option B for the entire lifetime of
the Contract.  Similarly, a Policy issued under either Death
Benefit Option A or B may not change to Death Benefit Option C
for the lifetime of the Policy.

Satisfactory evidence of insurability must be submitted to the
Company in connection with a request for a change from Death
Benefit Option A to Death Benefit Option B.  A change may not
be made if it would result in a Face Amount of less than the
minimum Face Amount.

A change in death benefit option will not in itself result in
an immediate change in the amount of a Policy's death benefit
or Cash Value.  In addition, if, prior to or accompanying a
change in the death benefit option, there has been an increase
in the Face Amount, the cost of insurance charge may be
different for the increased amount.  (See Monthly Deduction -
Cost of Insurance.)

CHANGE IN FACE AMOUNT.  Subject to certain limitations set
forth below, an Owner may increase or decrease the Face Amount
of a Policy once each Policy Year but not before the first
Policy Anniversary.  A written request is required for a change
in the Face Amount.  A change in Face Amount may affect the
cost of insurance rate and the net amount at risk, both of
which affect an Owner's cost of insurance charge.  (See Monthly
Deduction - Cost of Insurance.)  A change in the Face Amount of
a Policy may have Federal income tax consequences.  (See
Federal Tax Matters.)

For an increase in the Face Amount, the Company requires that
satisfactory evidence of insurability be submitted.  An
application for an increase must be received by the Company.
If approved, the increase will become effective as of the
Monthly Anniversary on or following receipt of the application
by the Company, but not before the first Policy Anniversary.
In addition, the Insured must have an Attained Age of not
greater than 80 on the effective date of the increase.  The
increase may not be less than $5,000 ($2,000 for policies
issued in qualified pension plans).  Although an application
for an increase need not be accompanied by an additional
premium, the Cash Surrender Value in effect immediately after
the increase must be sufficient to cover the next monthly
deduction.  To the extent the Cash Surrender Value is not
sufficient, an additional premium must be paid.  (See Charges
and Deductions - Monthly Deduction.)  An increase in the Face
Amount may result in certain additional charges.  (See Charges
and Deductions - Monthly Deduction.)

For the Owner's rights upon an increase in Face Amount, see
Policy Rights - Right to Examine Policy.  Owners should consult
their sales representative before deciding whether to increase
coverage by increasing the Face Amount of a Policy.

Any decrease in the Face Amount will become effective on the
Monthly Anniversary on or following receipt of the written
request by the Company.  The amount of the requested decrease
must be at least $5,000 ($2,000 for policies issued in
qualified pension plans) and the Face Amount remaining in force
after any requested decrease may not be less than minimum Face
Amount.  If following a decrease in Face Amount, the Policy
would not comply with the maximum premium limitations required
by Federal tax law (see Payment and Allocation of Premiums),
the decrease may be limited or Cash Value may be returned to
the Owner (at the Owner's election), to the extent necessary to
meet these requirements.  Decreases will generally be applied
to prior increases in the Face Amount, if any, in the reverse
order in which such increases occurred, and then to the
original Face Amount.  This order of reduction will be used to
determine the amount of subsequent cost of insurance charges
(See Monthly Deduction - Cost of Insurance; and Charges and
Deductions - Contingent Deferred Sales Charge.)

PAYMENT OF THE DEATH BENEFIT.  The death benefit under the
Policy will ordinarily be paid in a lump sum within seven days
after the Company receives all documentation required for such
a payment.  Payment may, however, be postponed in certain
circumstances.  (See General Matters - Postponement of Payment
from the Separate Account.)  The death benefit will be
increased by any unpaid dividends determined prior to the
Insured's death, and by the amount of the monthly cost of
insurance for the portion of the month from the date of death
to the end of the month, and reduced by any outstanding
Indebtedness.  (See General Matters - Additional Insurance
Benefits, Dividends, and Charges and Deductions.)  The Company
will pay interest on the death benefit from the date of the
Insured's death to the date of payment.  Interest will be at an
annual rate determined by the Company, but will never be less
than the guaranteed rate of 4%.  Provisions for settlement of
proceeds other than a lump sum payment may only be made upon
written agreement with the Company.

<PAGE>
                         CASH VALUE

The Cash Value of the Policy is equal to the total of the
amounts credited to the Owner in the Separate Account, the Loan
Account (securing Policy Loans),

                              18
<PAGE>
<PAGE>

and, in certain contracts, the General Account.  The Policy's
Cash Value in the Separate Account will reflect the investment
performance of the chosen Divisions of the Separate Account as
measured by each Division's Net Investment Factor (defined
below), the frequency and amount of Net Premiums paid,
transfers, partial withdrawals, loans and the charges assessed
in connection with the Policy.  An Owner may at any time
surrender the Policy and receive the Policy's Cash Surrender
Value.  (See Policy Rights - Surrender, Partial Withdrawals,
and Pro-Rata Surrender.)  The Policy's Cash Value in the
Separate Account equals the sum of the Policy's Cash Values in
each Division.  There is no guaranteed minimum Cash Value.

DETERMINATION OF CASH VALUE.  For each Division of the Separate
Account, the Cash Value is determined on each Valuation Date.
On the Investment Start Date, the Cash Value in a Division will
equal the portion of any Net Premium allocated to the Division,
reduced by the portion allocated to that Division of the
monthly deduction(s) due from the Issue Date through the
Investment Start Date.  (See Payment and Allocation of
Premiums.) Thereafter, on each Valuation Date, the Cash Value
in a Division of the Separate Account will equal:

     (1)  The Cash Value in the Division on the preceding
     Valuation Date, multiplied by the Division's Net
     Investment Factor (defined below) for the current
     Valuation Period; plus

     (2)  Any Net Premium payments received during the
     current Valuation Period which are allocated to the
     Division; plus

     (3)  Any loan repayments allocated to the Division
     during the current Valuation Period; plus

     (4)  Any amounts transferred to the Division from the
     General Account or from another Division during the
     current Valuation Period; plus

     (5)  That portion of the interest credited on
     outstanding loans which is allocated to the Division
     during the current Valuation Period; minus

     (6)  Any amounts transferred from the Division to the
     General Account, Loan Account, or to another Division
     during the current Valuation Period (including any
     transfer charges); minus

     (7)  Any partial withdrawals from the Division during
     the current Valuation Period; minus

     (8)  Any withdrawal due to a Pro-Rata Surrender from the
     Division during the current Valuation Period; minus

     (9)  Any withdrawal or surrender charges incurred during
     the current Valuation Period attributed to the Division
     in connection with a partial withdrawal or Pro-Rata
     Surrender; minus

     (10) If a Monthly Anniversary occurs during the current
     Valuation Period, the portion of the monthly deduction
     allocated to the Division during the current Valuation
     Period to cover the Policy Month which starts during that
     Valuation Period (See Charges and Deductions.); plus

     (11) If a Policy Anniversary occurs during the current
     Valuation Period, the portion of the dividend paid, if
     any, allocated to the Division.

NET INVESTMENT FACTOR:  The Net Investment Factor measures the
investment performance of a Division during a Valuation Period.
The Net Investment Factor for each Division for a Valuation
period is calculated as follows:

     (1)  The value of the assets at the end of the preceding
     Valuation Period; plus

     (2)  The investment income and capital gains, realized
     or unrealized, credited to the assets in the Valuation
     Period for which the Net Investment Factor is being
     determined; minus

     (3)  The capital losses, realized or unrealized, charged
     against those assets during the Valuation Period; minus

     (4)  Any amount charged against each Division for taxes,
     including any tax or other economic burden resulting from
     the application of the tax laws determined by the Company
     to be properly attributable to the Divisions of the
     Separate Account, or any amount set aside during the
     Valuation Period as a reserve for taxes attributable to
     the operation or maintenance of each Division; minus

<PAGE>
     (5)  A charge equal to a percentage of the average net
     assets for each day in the Valuation Period.  This
     charge, for mortality and expense risks, is determined by
     the length of time the policy has been in force.  It will
     not exceed the amounts shown in the following table:

       Policy                   Percentage of         Effective
       Years                   Avg. Net Assets       Annual Rate
       1-10                      0.0015027             0.55%
       11-20                     0.0012301             0.45%
       21+                       0.0009572             0.35%;

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         divided by

     (6)   The value of the assets at the end of the
     preceding Valuation Period.

                       POLICY RIGHTS

                           LOANS

LOAN PRIVILEGES.  The Owner may, by written request to General
American, borrow an amount up to the Loan Value of the Policy,
with the Policy serving as sole security for such loan.  A loan
taken from, or secured by, a Policy may have Federal income tax
consequences.  (See Federal Tax Matters.)

The Loan Value is the Cash Value of the Policy on the date the
loan request is received, less interest to the next loan
interest due date, less anticipated monthly deductions to the
next loan interest due date, less any existing loan, less any
surrender charge, plus interest expected to be earned on the
loan balance to the next loan interest due date.  Policy Loan
interest is payable on each Policy Anniversary.

The minimum amount that may be borrowed is $500.  The loan may
be completely or partially repaid at any time while the Insured
is living.  Any amount due to an Owner under a Policy Loan
ordinarily will be paid within seven days after General
American receives the loan request at its Home Office, although
payments may be postponed under certain circumstances.  (See
General Matters - Postponement of Payments from the Separate
Account.)

When a Policy Loan is made, Cash Value equal to the amount of
the loan plus interest due will be transferred to the Loan
Account as security for the loan.  A Loan Subaccount exists
within the Loan Account for the General Account and each
Division of the Separate Account.  Amounts transferred to the
Loan Account to secure Indebtedness are allocated to the
appropriate Loan Subaccount to reflect its origin.  Unless the
Owner requests a different allocation, amounts will be
transferred from the Divisions of the Separate Account and the
General Account in the same proportion that the Policy's Cash
Value in each Division and the General Account, if any, bears
to the Policy's total Cash Value, less the Cash Value in the
Loan Account, at the end of the Valuation Period during which
the request for a Policy Loan is received.  This will reduce
the Policy's Cash Value in the General Account and Separate
Account.  These transactions will not be considered transfers
for purposes of the limitations on transfers between Divisions
or to or from the General Account.

Cash Value in the Loan Account is expected to earn interest at
a rate ("the earnings rate") which is lower than the rate
charged on the Policy Loan ("the borrowing rate").  Cash Value
in the Loan Account will accrue interest daily at an annual
earnings rate of 4%.

Interest credited on the Cash Value held in the Loan Account
will be allocated on Policy Anniversaries to the General
Account and the Divisions of the Separate Account in the same
proportion that the Cash Value in each Loan Subaccount bears to
the Cash Value in the Loan Account.  The interest credited will
also be transferred: (1) when a new loan is made; (2) when a
loan is partially or fully repaid; and (3) when an amount is
needed to meet a monthly deduction.

INTEREST CHARGED.  The borrowing rate we charge for Policy Loan
interest will be based on the following schedule:
         FOR LOANS                 ANNUAL
     OUTSTANDING DURING         INTEREST RATE
     Policy Years  1-10             4.50%
     Policy Years 11-20             4.25%
     Policy Years   21+             4.15%

General American will inform the Owner of the current borrowing
rate when a Policy Loan is requested.

Policy Loan interest is due and payable annually on each Policy
Anniversary.  If the Owner does not pay the interest when it is
due, the unpaid loan interest will be added to the outstanding
Indebtedness as of the due date and will be charged interest at
the same rate as the rest of the Indebtedness.  (See Effect of
Policy Loans below.) The amount of Policy Loan interest which
is transferred to the Loan Account will be deducted from the
Divisions of the Separate Account and from the General Account
in the same proportion that the portion of the Cash Value in
each Division and in the General Account, respectively, bears
to the total Cash Value of the Policy minus the Cash Value in
the Loan Account.

<PAGE>
EFFECT OF POLICY LOANS.  Whether or not a Policy Loan is
repaid, it will permanently affect the Cash Value of a Policy,
and may permanently affect the amount of the death benefit.
The collateral for the loan (the amount held in the Loan
Account) does not participate in the performance of the
Separate Account while the loan is outstanding.  If the Loan
Account earnings rate is less than the investment performance
of the selected Division(s), the Cash Value of the Policy will
be lower as a result of the Policy Loan.  Conversely, if the
Loan Account earnings rate is higher than the investment
performance of the Division(s), the Cash Value may be higher.

                              20

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<PAGE>

In addition, if the Indebtedness (See Definitions) exceeds the Cash
Value minus the surrender charge on any Monthly Anniversary, the Policy
will lapse, subject to a grace period.  (See Payment and Allocation of
Premiums - Policy Lapse and Reinstatement.)  A sufficient payment must
be made within the later of the grace period of 62 days from the Monthly
Anniversary immediately before the date Indebtedness exceeds the Cash
Value less any surrender charges, or 31 days after notice that a Policy
will terminate unless a sufficient payment has been mailed, or the
Policy will lapse and terminate without value.  A lapsed Policy,
however, may later be reinstated subject to certain limitations.  (See
Payment and Allocation of Premiums - Policy Lapse and Reinstatement.)

Any outstanding Indebtedness will be deducted from the proceeds payable
upon the death of the Insured or the surrender of the Policy.  Upon a
complete surrender or lapse of any Policy, if the amount received plus
the amount of outstanding Indebtedness exceeds the total investment in
the Policy, the excess will generally be treated as ordinary income
subject to tax.  (See Federal Tax Matters.)

REPAYMENT OF INDEBTEDNESS.  A Policy Loan may be repaid in whole or in
part at any time prior to the death of the Insured and as long as a
Policy is in force.  When a loan repayment is made, an amount securing
the Indebtedness in the Loan Account equal to the loan repayment will be
transferred to the Divisions of the Separate Account and the General
Account in the same proportion that the Cash Value in each Loan
Subaccount bears to Cash Value in the Loan Account.  Amounts paid while
a Policy Loan is outstanding will be treated as premiums unless the
Owner requests in writing that they be treated as repayment of
Indebtedness.

       SURRENDER, PARTIAL WITHDRAWALS AND PRO-RATA SURRENDER

At any time during the lifetime of the Insured and while a Policy is in
force, the Owner may surrender the Policy by sending a written request
to the Company.  After the first Policy Year, an Owner may make a
partial withdrawal by sending a written request to the Company.  The
amount available for surrender is the Cash Surrender Value at the end of
the Valuation Period during which the surrender request is received at
the Company's Home Office.  Amounts payable from the Separate Account
upon surrender, partial withdrawal, or a Pro-Rata Surrender will
ordinarily be paid within seven days of receipt of the written request.
(See General Matters - Postponement of Payments from the Separate
Account.)

SURRENDERS.  To effect a surrender, either the Policy itself must be
returned to the Company along with the request, or the request must be
accompanied by a completed affidavit of loss, which is available from
the Company.  Upon surrender, the Company will pay the Cash Surrender
Value plus any unpaid dividends determined prior to surrender (See
Dividends) to the Owner in a single sum.  The Cash Surrender Value
equals the Cash Value on the date of surrender, less any Indebtedness,
and less any surrender charge.  (See Charges and Deductions - Contingent
Deferred Sales Charge.)  The Company will determine the Cash Surrender
Value as of the date that an Owner's written request is received at the
Company's Home Office.  If the request is received on a Monthly
Anniversary, the monthly deduction otherwise deductible will be included
in the amount paid.  Coverage under a Policy will terminate as of the
date of surrender.  The Insured must be living at the time of a
surrender.  A surrender may have Federal income tax consequences.  (See
Federal Tax Matters.)

PARTIAL WITHDRAWALS.  After the first Policy Year, an Owner may make
partial withdrawals from the Policy's Cash Surrender Value.  There is no
transaction charge for the first twelve partial withdrawals or requested
transfers in a Policy Year.  General American will impose a charge of
$25 for each partial withdrawal or requested transfer in excess of
twelve in a Policy Year.  A partial withdrawal may have Federal income
tax consequences.  (See Federal Tax Matters.)

The minimum amount of a partial withdrawal request, net of any
applicable surrender charges, is the lesser of a) $500 from a Division
of the Separate Account, or b) the Policy's Cash Value in a Division.
(See Charges and Deductions - Contingent Deferred Sales Charge.) Partial
withdrawals made during a Policy Year may not exceed the following
limits.  The maximum amount that may be withdrawn from a Division of the
Separate Account is the Policy's Cash  Value net of any applicable
surrender charges in that Division.  The total partial withdrawals and
transfers from the General Account over the Policy Year may not exceed a
maximum amount equal to the greatest of the following: (1) 25% of the
Cash Surrender Value in the General Account at the beginning of the
Policy Year, multiplied by the withdrawal percentage limit shown in the
policy, or (2) the previous Policy Year's maximum amount.

The Owner may allocate the amount withdrawn plus any applicable
surrender charge, subject to the above conditions, among the Divisions
of the Separate Account and the General Account.  If no allocation is
specified, then the partial withdrawal will be allocated among the
Divisions of the Separate Account and the General Account in the same

                              21

<PAGE>
<PAGE>

proportion that the Policy's Cash Value in each Division and the General
Account bears to the total Cash Value of the Policy, less the Cash Value
in the Loan Account, on the date the request for the partial withdrawal
is received.  If the limitations on withdrawals from the General Account
will not permit this proportionate allocation, the Owner will be
requested to provide an alternate allocation.  (See The General
Account.)

No amount may be withdrawn that would result in there being insufficient
Cash Value to meet any surrender charge that would be payable
immediately following the withdrawal upon the surrender of the remaining
Cash Value.

The death benefit will be affected by a partial withdrawal, unless Death
Benefit Option A or Option C is in effect and the withdrawal is made
under the terms of an anniversary partial withdrawal rider.  (See
General Matters - Additional Insurance Benefits.)  If Death Benefit
Option A or Death Benefit Option C is in effect and the death benefit
equals the Face Amount, then a partial withdrawal will decrease the Face
Amount by an amount equal to the partial withdrawal plus the applicable
surrender charge resulting from that partial withdrawal.  If the death
benefit is based on a percentage of the Cash Value, then a partial
withdrawal will decrease the Face Amount by an amount by which the
partial withdrawal plus the applicable surrender charge exceeds the
difference between the death benefit and the Face Amount.  If Death
Option B is in effect, the Face Amount will not change.

The Face Amount remaining in force after a partial withdrawal may not be
less than the minimum Face Amount.  Any request for a partial withdrawal
that would reduce the Face Amount below this amount will not be
implemented.

Partial withdrawals may affect the way in which the cost of insurance
charge is calculated and the amount of pure insurance protection
afforded under a Policy.  (See Monthly Deduction - Cost of Insurance.)
Partial withdrawals will be applied first to reduce the initial Face
Amount and then to each increase in Face Amount in order, starting with
the first increase.  The Company may change the minimum amount required
for a partial withdrawal or the number of times partial withdrawals may
be made.

PRO-RATA SURRENDER.  After the first Policy Year, an Owner can make a
Pro-Rata Surrender of the Policy.  The Pro-Rata Surrender will reduce
the Face Amount and the Cash Value by a percentage chosen by the Owner.
This percentage must be any whole number.  A Pro-Rata Surrender may have
Federal income tax consequences.  (See Federal Tax Matters.) The
percentage will be applied to the Face Amount and the Cash Value on the
Monthly Anniversary on or following our receipt of the request.

The Owner may allocate the amount of decrease in Cash Value plus any
applicable surrender charge among the Divisions of the Separate Account
and the General Account.  (See Charges and Deductions - Contingent
Deferred Sales Charge.) If no allocation is specified, then the decrease
in Cash Value and any applicable surrender charge will be allocated
among the Divisions of the Separate Account and the General Account in
the same proportion that the Policy's Cash Value in each Division and
the General Account bears to the total Cash Value of the Policy, less
the Cash Value in the Loan Account, on the date the request for Pro-Rata
Surrender is received.

A Pro-Rata Surrender can not be processed if it will reduce the Face
Amount below the minimum Face Amount of the Policy.  No Pro-Rata
Surrender will be processed for more Cash Surrender Value than is
available on the date of the Pro-Rata Surrender.  A cash payment will be
made to the Owner for the amount of Cash Value reduction less any
applicable surrender charges.

Pro-Rata Surrenders may affect the way in which the cost of insurance
charge is calculated and the amount of the pure insurance protection
afforded under the Policy.  (See Monthly Deduction - Cost of Insurance.)
Pro-Rata Surrenders will be applied to prior increases in the Face
Amount, if any, in the reverse order in which such increases occurred,
and then to the original Face Amount.

CHARGES ON SURRENDER, PARTIAL WITHDRAWALS AND PRO-RATA SURRENDER.  If a
Policy is surrendered within the first ten Policy Years, the Contingent
Deferred Sales Charge will apply.  (See Contingent Deferred Sales
Charge.)

A partial withdrawal or Pro-Rata Surrender may also result in a
Contingent Deferred Sales Charge.  The amount of the charge assessed is
a portion of the Contingent Deferred Sales Charge that would be deducted
upon surrender or lapse.  Charges are described in more detail under
Charges and Deductions - Contingent Deferred Sales Charge.

While partial withdrawals and Pro-Rata Surrenders are each methods of
reducing a Policy's Cash Value, a Pro-Rata Surrender differs from a
partial withdrawal in that a partial withdrawal does not typically have
a proportionate effect on a Policy's death benefit by reducing the
Policy's Face Amount, while a Pro-Rata Surrender does.  Assuming that a
Policy's death benefit is not a percentage of the Policy's Cash Value, a
Pro-Rata Surrender will reduce the Policy's death benefit in the same
proportion that the Policy's Cash Value is reduced,

                              22

<PAGE>
<PAGE>

while a partial withdrawal will reduce the death benefit by one dollar
for each dollar of Cash Value withdrawn.  Partial Withdrawals and Pro-
Rata Surrenders will also result in there being different cost of
insurance charges subsequently deducted.  (See Monthly Deduction - Cost
of Insurance; Surrender, Partial Withdrawals and Pro-Rata Surrender -
Partial Withdrawals; and Surrenders, Partial Withdrawals, and Pro-Rata
Surrenders-Pro-Rata Surrender.)

                             TRANSFERS

Under General American's current practices, a Policy's Cash Value,
except amounts credited to the Loan Account, may be transferred among
the Divisions of the Separate Account and for certain contracts, between
the General Account and the Divisions.  Transfers to and from the
General Account are subject to restrictions (See The General Account).
Requests for transfers from or among Divisions of the Separate Account
may be made in writing or by telephone.  Transfers from or among the
Divisions of the Separate Account must be in amounts of at least $500
or, if smaller, the Policy's Cash Value in a Division.  The first twelve
requested transfers or partial withdrawals per policy year will be
allowed free of charge.  Thereafter, the Company will impose a charge of
$25 for each requested transfer or partial withdrawal.  General American
ordinarily will make transfers and determine all values in connection
with transfers as of the end of the Valuation Period during which the
transfer request is received.

All requests received on the same Valuation Date will be considered a
single transfer request.  Each transfer must meet the minimum
requirement of $500 or the entire Cash Value in a Division, whichever is
smaller.  Where a single transfer request calls for more than one
transfer, and not all of the transfers would meet the minimum
requirements, General American will make those transfers that do meet
the requirements.  Transfers resulting from Policy Loans will not be
counted for purposes of the limitations on the amount or frequency of
transfers allowed in each Policy Month or Policy Year.

Although General American currently intends to continue to permit
transfers for the foreseeable future, the Policy provides that General
American may at any time revoke, modify, or limit the transfer
privilege, including the minimum amount transferable, the maximum
General Account allocation percent, and the frequency of such transfers.

                       PORTFOLIO REBALANCING

Over time, the funds in the General Account and the Divisions of the
Separate Account will accumulate at different rates as a result of
different investment returns.  The Owner may direct that from time to
time we automatically restore the balance of the Cash Value in the
General Account and in the Divisions of the Separate Account to the
percentages determined in advance.  There are two methods of rebalancing
available - periodic and variance.

PERIODIC REBALANCING. Under this option the Owner elects a frequency
(monthly, quarterly, semiannually or annually), measured from the Policy
Anniversary.  On each date elected, we will rebalance the funds by
generating transfers to reallocate the funds according to the investment
percentages elected.

VARIANCE REBALANCING.  Under this option the Owner elects a specific
allocation percentage for the General Account and each Division of the
Separate Account.  For each such account, the allocation percentage (if
not zero) must be a whole percentage and must not be less than five
percent (5%).  The Owner also elects a maximum variance percentage (5%,
10%, 15%, or 20% only), and can exclude specific funds from being
rebalanced.  On each Monthly Anniversary we will review the current fund
balances to determine whether any fund balance is outside of the
variance range (either above or below) as a percentage of the specified
allocation percentage for that fund.  If any fund is outside of the
variance range, we will generate transfers to rebalance all of the
specified funds back to the predetermined percentages.

Owners should consider that portfolio rebalancing entails the transfer
of Cash Value from better performing portfolios to lesser performing
portfolios.

Transfers resulting from portfolio rebalancing will not be counted
against the total number of transfers allowed in a Policy Year before a
charge is applied.

The Owner may elect either form of portfolio rebalancing by specifying
it on the policy application, or may elect it later for an in-force
Policy, or may cancel it, by submitting a change form acceptable to
General American under its administrative rules.

Only one form of portfolio rebalancing may be elected at any one time,
and portfolio rebalancing may not be used in conjunction with dollar
cost averaging (see below).

General American reserves the right to suspend portfolio rebalancing at
any time on any class of Policies on a nondiscriminatory basis, or to
charge an administrative fee for election changes in excess of a

                              23

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<PAGE>

specified number in a Policy Year in accordance with its administrative
rules.

                       DOLLAR COST AVERAGING

The Owner may direct the Company to transfer amounts on a monthly basis
from the Money Market Fund to any other Division of the Separate
Account.  This service is intended to allow the Owner to utilize "dollar
cost averaging" ("DCA"), a long-term investment technique which provides
for regular, level investments over time.  The Company makes no
guarantee that DCA will result in a profit or protect against loss.

The following rules and restrictions apply to DCA transfers:

        (1) The minimum DCA transfer amount is $100.

        (2) A written election of the DCA service, on a form provided by
        the Company, must be completed by the Owner and on file with the
        Company in order to begin DCA transfers.

        (3) In the written election of the DCA service, the Owner
        indicates how DCA transfers are to be allocated among the
        Divisions of the Separate Account.  For any Division chosen to
        receive DCA transfers, the minimum percentage that may be
        allocated to a Division is 5% of the DCA transfer amount, and
        fractional percentages may not be used.

        (4) DCA transfers can only be made from the Money Market Fund,
        and DCA transfers will not be allowed to the General Account.

        (5) The DCA transfers will not count against the Policy's normal
        transfer restrictions.  (See Policy Rights-- Transfers.)

        (6) The DCA transfer percentages may  differ from the allocation
        percentages the Owner specifies for the allocation of Net
        Premiums.  (See Payment and Allocation of Premiums -- Allocation
        of Net Premiums and Cash Values.)

        (7) Once elected, DCA transfers from the Money Market Fund will
        be processed monthly until either the value in the Money Market
        Fund is completely depleted or the Owner instructs the Company in
        writing to  cancel the DCA service.

        (8) Transfers as a result of a Policy Loan or repayment, or in
        exercise of the conversion privilege, are not subject to the DCA
        rules and restrictions.  The DCA service terminates at the time
        the conversion privilege is exercised, when any outstanding amount
        in any Division of the Separate Account is immediately transferred
        to the General Account.  (See Policy Rights - Loans, and Policy
        Rights - Conversion Privilege.)

        (9) DCA transfers will not be made until the Right to Examine
        Policy period has expired (See Policy Rights - Right to Examine
        Policy).

The Company reserves the right to assess a processing fee for the DCA
service.  The Company reserves the right to discontinue offering DCA
upon 30 days' written notice to Owners.  However, any such
discontinuation will not affect DCA services already commenced.  The
Company reserves the right to impose a minimum total Cash Value, less
outstanding Indebtedness, in order to qualify for DCA service.  Also,
the Company reserves the right to change the minimum necessary Cash
Value and the minimum required DCA transfer amount.

Transfers made under Dollar Cost Averaging do not count against the
total of twelve requested transfers or partial withdrawals allowed
without charge in a Policy Year.

                      RIGHT TO EXAMINE POLICY

The Owner may cancel a Policy within 20 days after receiving it (30 days
if the Owner is a resident of California and is age 60 or older) or
within 45 days after the application was signed, whichever is later.  If
a Policy is canceled within this time period, a refund will be paid.
Where required by state law, the refund will equal all premiums paid
under the Policy.  Where required by state law, General American will
refund an amount equal to the greater of premiums paid or (1) plus (2)
where (1) is the difference between the premiums paid, including any
policy fees or other charges, and the amounts allocated to the Separate
Account under the Policy and (2) is the value of the amounts allocated
to the Separate Account under the Policy on the date the returned Policy
is received by General American or its agent.

To cancel the Policy, the Owner should mail or deliver the Policy to
either General American or the agent who sold it.  A refund of premiums
paid by check may be delayed until the Owner's check has cleared the
bank upon which it was drawn.  (See General Matters - Postponement of
Payments from the Separate Account.)

A request for an increase in Face Amount (see Policy Benefits - Death
Benefit) may also be canceled.  The request for cancellation must be
made within the later of 20 days from the date the Owner received the
new Policy specifications page for the increase, or 45 days after the
application for the increase was signed.

                              24

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                 DEATH BENEFIT AT ATTAINED AGE 100

If the Insured is living and the Policy is in force when the Insured
reaches Attained Age 100, the death benefit will be equal to 101% of the
Cash Value of the Policy unless the Lifetime Coverage Rider is in
effect.  (See Additional Insurance Benefits.)  At that point, no further
premium payments will be required or accepted, and no further monthly
deductions will be taken to cover the cost of insurance.

                 PAYMENT AND ALLOCATION OF PREMIUMS

                        ISSUANCE OF A POLICY

Individuals wishing to purchase a Policy must complete an application
and submit it to an authorized registered agent of General American or
to General American's Home Office.  A Policy will generally be issued to
Insureds of Issue Ages 0 through 85 for regularly underwritten
contracts, and to Insureds of Issue Ages 20 through 70 for Policies
issued in qualified pension plans, for guaranteed issue contracts and,
should they become available in the future, for simplified issue
contracts.  General American may, in its sole discretion, issue Policies
to individuals falling outside of those Issue Ages.  Acceptance of an
application is subject to General American's underwriting rules and
General American reserves the right to reject an application for any
reason.

The Issue Date is determined by General American in accordance with its
standard underwriting procedures for variable life insurance policies.
The Issue Date is used to determine Policy Anniversaries, Policy Years,
and Policy Months.  Insurance coverages under a Policy will not take
effect until the Policy has been delivered and the initial premium has
been paid prior to the Insured's death and prior to any change in health
as shown in the application.

                              PREMIUMS

The initial premium is due on the Issue Date, and may be paid to an
authorized registered agent of General American or to General American
at its Home Office.  General American currently requires that the
initial premium for a Policy be at least equal to one-twelfth (1/12) of
the Minimum Premium for the Policy.  The Minimum Premium is the amount
specified for each Policy based on the requested initial Face Amount and
the charges under the Policy which vary according to the Issue Age, sex,
underwriting risk class, and smoker status of the Insured.  (See Charges
and Deductions.)  For policies issued as a result of a term conversion
from certain General American term policies, the Company requires the
Owner to pay an initial premium, which combined with conversion credits
given, if any, will equal one full "Minimum Premium" for the Policy.

Following the initial premium, subject to the limitations described
below, premiums may be paid in any amount and at any interval.  Premiums
after the first premium payment must be paid to General American at its
Home Office.  An Owner may establish a schedule of planned premiums
which will be billed by the Company at regular intervals.  Failure to
pay planned premiums, however, will not itself cause the Policy to
lapse.  (See Policy Lapse and Reinstatement.) Premium receipts will be
furnished upon request.

An Owner may make unscheduled premium payments at any time in any
amount, or skip planned premium payments, subject to the minimum and
maximum premium limitations described below.

If a Policy is in the intended Owner's possession but the initial
premium has not been paid, the Policy is not in force.  The intended
Owner is deemed to have the Policy for inspection only.

PREMIUM LIMITATIONS.  Every premium payment must be at least $10.  In no
event may the total of all premiums paid in any Policy Year exceed the
current maximum premium limitations for that Policy Year.  Maximum
premium limits for the Policy Year will be shown in an Owner's annual
report.

In general, for policies issued with Death Benefit Option A or Death
Benefit Option B, the maximum premium limit for a Policy Year is the
largest amount of premium that can be paid in that Policy Year such that
the sum of the premiums paid under the Policy will not at any time
exceed the guideline premium limitations needed to comply with the tax
definition of life insurance.  For policies issued with Death Benefit
Option C, the company reserves the right to impose other restrictions
upon the amount of premium that may be paid into the Policy.  If at any
time a premium is paid which would result in total premiums exceeding
the current maximum premium limitations, the Company will only accept
that portion of the premium which will make total premiums equal the
maximum.  Any part of the premium in excess of that amount will be
returned or applied as otherwise agreed, and no further premiums will be
accepted until allowed under the current maximum premium limitations.

In addition to the foregoing tax definitional limits on premiums, for
purposes of determining whether distributions (including loans) are a
return of income first, the Company monitors the Policy to detect
whether the "seven pay limit" has been exceeded.  If the seven pay limit
is exceeded, the Policy becomes a

                              25

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<PAGE>

"Modified Endowment".  The Company has adopted administrative steps
designed to notify an Owner when it is believed that a premium payment
will cause a Policy to become a modified endowment contract.  The Owner
will be given a limited amount of time to request that the premium be
reversed in order to avoid the Policy's being classified as a modified
endowment contract.  (See Federal Tax Matters.)

If the Company receives a premium payment which would cause the death
benefit to increase by an amount that exceeds the Net Premium portion of
the payment, then the Company reserves the right to (1) refuse that
premium payment, or (2) require additional evidence of insurability
before it accepts the premium.

             ALLOCATION OF NET PREMIUMS AND CASH VALUE

ALLOCATION OF NET PREMIUMS.  In the application for a Policy, the Owner
indicates how Net Premiums are to be allocated among the Divisions of
the Separate Account, to the General Account (if available), or both.
For each Division chosen, the minimum percentage that may be allocated
to a Division is 5% of the Net Premium, and fractional percentages may
not be used.  Certain other restrictions apply to allocations made to
the General Account (see General Account).  For policies issued with an
allowable percentage to the General Account of more than 5%, the minimum
percentage is 5%, and fractional percentages may not be used.

The allocation for future Net Premiums may be changed without charge at
any time by providing notice to the Company.  Any change in allocation
will take effect immediately upon receipt by the Company of written
notice.  No charge is imposed for changing the allocations of future
premiums.  The initial allocation will be shown on the application which
is attached to the Policy.  The Company may at any time modify the
maximum percentage of future Net Premiums that may be allocated to the
General Account.

During the period from the Issue Date to the end of the Right to Examine
Policy Period (See Policy Rights - Right to Examine Policy), Net
Premiums will automatically be allocated to the Division that invests in
the Money Market Fund of Capital Company.  When this period expires, the
Policy's Cash Value in that Division will be transferred to the
Divisions of the Separate Account and to the General Account (if
available) in accordance with the allocation requested in the
application for the Policy, or any allocation instructions received
subsequent to receipt of the application.  Net Premiums received after
the Right to Examine Policy Period will be allocated according to the
allocation instructions most recently received by the Company unless
otherwise instructed for that particular premium receipt.

The Policy's Cash Value may also be transferred between Divisions of the
Separate Account, and, if the General Account is available under the
Policy, between those Divisions and the General Account.  (See Policy
Rights - Transfers.)

The value of amounts allocated to Divisions of the Separate Account will
vary with the investment performance of the chosen Divisions and the
Owner bears the entire investment risk.  This will affect the Policy's
Cash Value, and may affect the death benefit as well.  Owners should
periodically review their allocations of Net Premiums and the Policy's
Cash Value in light of market conditions and their overall financial
planning requirements.

                   POLICY LAPSE AND REINSTATEMENT

LAPSE.  Unlike conventional whole life insurance policies, the failure
to make a premium payment following the initial premium will not itself
cause a Policy to lapse.  If, during the first five Policy Years, the
sum of all premiums paid on the Policy, reduced by any partial
withdrawals and any outstanding loan balance, is greater than or equal
to the sum of the No Lapse Monthly Premiums for the elapsed months since
the Issue Date, the Policy will not lapse as a result of the Cash Value
less any loans, loan interest due, and any surrender charge being
insufficient to pay the monthly deduction.  Lapse will occur (except as
described above) when the Cash Surrender Value is insufficient to cover
the monthly deduction, and a grace period expires without a sufficient
payment being made.

The grace period, which is 62 days, begins on the Monthly Anniversary on
which the Cash Surrender Value becomes insufficient to meet the next
monthly deduction.  The Company will notify the Owner at the beginning
of the grace period by mail addressed to the last known address on file
with the Company.  The notice to the Owner will indicate the amount of
additional premium that must be paid.  The amount of the premium
required to keep the Policy in force will be the amount to cover the
outstanding monthly deductions and premium expense charges.  (See
Charges and Deductions - Monthly Deduction.) If the Company does not
receive the required amount within the grace period, the Policy will
lapse and terminate without Cash Value.

If the Insured dies during the grace period, any overdue monthly
deductions will be deducted from the death benefit otherwise payable.

REINSTATEMENT.  The Owner may reinstate a lapsed Policy by written
application any time within five

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years after the date of lapse and before the Insured's Attained Age 100.
Reinstatement is subject to the following conditions:

        1. Evidence of the insurability of the Insured satisfactory to
        the Company (including evidence of insurability of any person
        covered by a rider to reinstate the rider).

        2. Payment of a premium that, after the deduction of premium
        expense charges, is large enough to cover: (a) the monthly
        deductions due at the time of lapse, and (b) two times the monthly
        deduction due at the time of reinstatement.

        3. Payment or reinstatement of any Indebtedness.  Any
        Indebtedness reinstated will cause Cash Value of an equal amount
        also to be reinstated.  Any loan interest due and unpaid on the
        Policy Anniversary prior to reinstatement must be repaid at the
        time of reinstatement.  Any loan paid at the time of reinstatement
        will cause an increase in Cash Value equal to the amount to be
        reinstated.

The Policy cannot be reinstated if it has been surrendered.

The amount of Cash Value on the date of reinstatement will be equal to
the amount of any Policy Loan reinstated, increased by the Net Premiums
paid at reinstatement, any Policy Loan paid at the time of
reinstatement, and the amount of any surrender charge paid at the time
of lapse.

The Insured must be alive on the date the Company approves  the
application for reinstatement.  If the Insured is not then alive, such
approval is void and of no effect.

The effective date of reinstatement will be the date the Company
approves the application for reinstatement.  There will be a full
monthly deduction for the Policy Month which includes that date.  (See
Charges and Deductions - Monthly Deduction.)

The surrender charge in effect at the time of reinstatement will equal
the surrender charge in effect at the time of lapse.

                       CHARGES AND DEDUCTIONS

Charges will be deducted in connection with the Policy to compensate the
Company for providing the insurance benefits set forth in the Policy and
any additional benefits added by rider, administering the Policies,
incurring expenses in distributing the Policies, and assuming certain
risks in connection with the Policy.

                      PREMIUM EXPENSE CHARGES

Prior to allocation of Net Premiums, premium payments will be reduced by
premium expense charges consisting of a sales charge and a charge for
premium taxes.  The premium payment less the premium expense charge
equals the Net Premium.

SALES CHARGE.  A sales charge will be deducted from each premium payment
to partially compensate the Company for expenses incurred in
distributing the Policy and any additional benefits provided by riders.
The Company currently intends to deduct a sales charge determined
according to the following schedule:
      Policy Year 1           15% of premium up to Target
                               5% of premium above Target
      Policy Years 2-10        5% of all premium paid
      Policy Years 11+         2% of all premium paid
For policies issued in the state of Oregon, the amounts shown above are
increased by 2%.  Consistent with the requirements of the Texas non-
forfeiture laws, the guaranteed sales charge varies for policies issued
in Texas.  As of the date of this prospectus, the current sales charge
for Texas policies is the same as shown above.

The expenses covered by the sales charge include agent sales
commissions, the cost of printing Prospectuses and sales literature, and
any advertising costs.  Where Policies are issued to Insureds with
higher mortality risks or to Insureds who have selected additional
insurance benefits, a portion of the amount deducted for sales charge is
used to pay distribution expenses and other costs associated with these
additional coverages.  No increase in this sales charge will occur that
would result in an increase in the sales charge percentage deducted in
any previous Policy year.

A Contingent Deferred Sales Charge is also imposed under certain
circumstances for expenses incurred in distributing the Policies.  That
charge is discussed below.

To the extent that sales expenses are not recovered from the sales
charge and the surrender charge, those expenses may be recovered from
other sources, including the mortality and expense risk charge described
below.

PREMIUM TAXES.  Various states or other governing jurisdictions and
their subdivisions impose a tax on premiums received by insurance
companies.  Premium taxes vary by jurisdiction.  A deduction equal to
the amount of the actual premium tax (if any) is taken from each premium
payment for these

                              27

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<PAGE>

taxes.  The deduction allows the Company to pass through the amount of
the taxes imposed on the policy by the state or other governing
jurisdiction and any subdivisions thereof.  State premium taxes
currently range from 0% to 3.5% (4% in Puerto Rico), with an average of
approximately 2.1%.

FEDERAL TAX CHARGE.  This charge is designed to pass through the
equivalent of the federal tax consequences applicable to the policy.
The charge is currently 1.3% of premium paid, and is guaranteed not to
increase except to the extent of any increases in the federal tax

                        MONTHLY DEDUCTION

Charges will be deducted monthly from the Cash Value of each Policy
("the monthly deduction") to compensate the Company for (a) certain
administrative costs; (b) the cost of insurance; and (c) the cost of
optional benefits added by rider.  The monthly deduction will be taken
on the Investment Start Date and on each Monthly Anniversary.  It will
be allocated among the General Account and each Division of the Separate
Account in the same proportion that a Policy's Cash Value in the General
Account and the  Policy's Cash Value in each Division bear to the total
Cash Value of the Policy, less the Cash Value in the Loan Account, on
the date the deduction is taken.  Because portions of the monthly
deduction, such as the cost of insurance, can vary from month to month,
the monthly deduction itself can vary in amount from month to month.

SELECTION AND ISSUE EXPENSE CHARGE.  During the first ten Policy Years,
and during the first ten Policy Years following an increase in Face
Amount, the Company generally assesses a monthly charge to cover the
costs associated with the underwriting and issue of the policy or the
increase.  The monthly charge per $1,000 of face amount ranges from
approximately 4 cents to 65 cents, and varies by issue age, risk class,
and (except on unisex Policies) sex of the Insured.  The duration of the
guaranteed charges varies for policies issued in Texas to ensure
compliance with the Texas non-forfeiture laws.  On a current basis, as
of the date of this prospectus, the duration is the same as described
above.

MONTHLY ADMINISTRATIVE CHARGE.  The Company has responsibility for the
administration of the Policies and the Separate Account.  Administrative
expenses include premium billing and collection, record keeping,
processing death benefit claims, cash surrenders, partial withdrawals,
Policy changes, and reporting and overhead costs, processing
applications, and establishing Policy records.  As reimbursement for
administrative expenses related to the maintenance of each Policy and
the Separate Account, the Company assesses a monthly administration
charge from each Policy.  This charge is generally $25 per month in the
first Policy Year, and $6 per month for all Policy Years thereafter, and
is guaranteed not to increase while the Policy is in force.

The Company may administer the Policy itself, or may purchase
administrative services from such sources (including affiliates) as may
be available.  Such services will be acquired on a basis which, in the
Company's sole discretion, affords the best services at the lowest cost.
The Company reserves the right to select a company to provide services
which the Company deems, in its sole discretion, is the best able to
perform such services in a satisfactory manner even though the costs for
such services may be higher than would prevail elsewhere.

COST OF INSURANCE.  The cost of insurance is deducted on each Monthly
Anniversary for the following Policy Month.  Because the cost of
insurance depends upon a number of variables, the cost will vary for
each Policy Month.  The cost of insurance is determined separately for
the initial Face Amount and for any subsequent increases in Face Amount.
The Company will determine the cost of insurance charge by multiplying
the applicable cost of insurance rate or rates by the net amount at risk
(defined below) for each Policy Month.

The cost of insurance rates are determined at the beginning of each
Policy Year for the initial Face Amount and each increase in Face
Amount.  The rates will be based on the Attained Age, duration, rate
class, and (except for unisex Policies) sex of the Insured at issue or
the date of an increase in Face Amount.  (See Unisex Requirements Under
Montana Law.)  The cost of insurance rates generally increase as the
Insured's Attained Age increases.  The rate class of an Insured also
will affect the cost of insurance rate.  For the initial Face Amount,
the Company will use the rate class on the Issue Date.  For each
increase in Face Amount, other than one caused by a change in the death
benefit option, the Company will use the rate class applicable to that
increase.  If the death benefit equals a percentage of Cash Value, an
increase in Cash Value will cause an automatic increase in the death
benefit.  The rate class for such increase will be the same as that used
for the most recent increase that required proof of insurability.

The Company currently places Insureds into a preferred rate class, a
standard rate class, or into rate classes involving a higher mortality
risk.  The degree of underwriting imposed may vary from full
underwriting, to simplified issue underwriting, to guaranteed issue
underwriting.

                              28

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<PAGE>

Actual cost of insurance rates may change, and the actual monthly cost
of insurance rates will be determined by the Company based on its
expectations as to future mortality experience.  However, the actual
cost of insurance rates will not be greater than the guaranteed cost of
insurance rates set forth in the Policy.  For fully underwritten,
guaranteed issue and simplified issue Policies which are not in a
substandard risk class, the guaranteed cost of insurance rates are equal
to 100% of the rates set forth in the male/female smoker/non-smoker 1980
CSO Mortality Tables (1980 CSO Tables NA and SA and 1980 CSO Tables NG
and SG for sex distinct; 1980 CSO Tables NB and SB for unisex policies
issued in qualified pension plans; 1980 CSO Tables NA and SA for unisex
policies issued in compliance with Montana law), for the age nearest
birthday.  Higher rates apply if the Insured is determined to be in a
substandard risk class.

In two otherwise identical Policies, an Insured in the preferred rate
class will have a lower cost of insurance than an Insured in a rate
class involving higher mortality risk.  Each rate class is also divided
into two categories: smokers and nonsmokers.  Nonsmoker Insureds will
generally incur a lower cost of insurance than similarly situated
Insureds who smoke.  (Insureds under Attained Age 20 are automatically
assigned to the non-smoker rate class.) Policies issued with simplified
underwriting or guaranteed issue will in general incur a higher cost of
insurance than fully underwritten Policies.  Guaranteed issue Policies
will in general incur the highest current or actual cost of insurance
rates.

The net amount at risk for a Policy Month is (a) the death benefit at
the beginning of the Policy Month divided by 1.0032737 (which reduces
the net amount at risk, solely for purposes of computing the cost of
insurance, by taking into account assumed monthly earnings at an annual
rate of 4%), less (b) the Cash Value at the beginning of the Policy
Month.  If there is an increase in the Face Amount, a net amount at risk
will be calculated separately for the initial Face Amount and for each
increase in Face Amount.  If Death Benefit Option A or Death Option C is
in effect, for purposes of determining the net amounts at risk for the
initial Face Amount and for each increase in Face Amount, Cash Value
will first be considered a part of the initial Face Amount.  If the Cash
Value is greater than the initial Face Amount, the excess Cash Value
will then be considered a part of each increase in order, starting with
the first increase.  If Death Benefit Option B is in effect, the net
amount at risk will be determined separately for the initial Face Amount
and for each increase in Face Amount.  In calculating the cost of
insurance charges, the cost of insurance rate for a Face Amount is
applied to the net amount at risk for that Face Amount.

ADDITIONAL INSURANCE BENEFITS.  The monthly deduction will include
charges for any additional benefits provided by rider.  (See General
Matters - Additional Insurance Benefits.)

            CONTINGENT DEFERRED SALES CHARGE ("CDSC")

For a period of up to ten years after the Issue Date, and for a period
of up to ten years following an increase in the Face Amount, the Company
will impose a CDSC upon surrender or lapse of the Policy, upon a partial
withdrawal, or upon a Pro-Rata Surrender.  The amount of the charge
assessed will depend upon a number of factors, including the type of
event (a full surrender, lapse, or partial withdrawal), the amount of
any premium payments made under the Policy prior to the event, and the
number of Policy Years having elapsed since the Policy was issued.

The Contingent Deferred Sales Charge compensates the Company for
expenses relating to the distribution of the Policy, including agents'
commissions, advertising, and the printing of the Prospectus and sales
literature.

CALCULATION OF CHARGE.  If a Policy is surrendered, the charge will not
exceed the Contingent Deferred Sales Charge Percentage multiplied by the
annual Target Premium attributable to the base policy or to the increase
in Face Amount.

The Contingent Deferred Sales Charge Percentage is shown in the
following table.

                 CONTINGENT DEFERRED SALES CHARGE
                         PERCENTAGE TABLE

             IF SURRENDER OR LAPSE     THE PERCENTAGE OF THE
            OCCURS IN THE LAST MONTH      ANNUAL TARGET
                  OF POLICY YEAR:       PREMIUM PAYABLE IS:
                  1 through 5                 45%
                       6                      40%
                       7                      30%
                       8                      20%
                       9                      10%
                  10 and later                 0%

In addition, the percentages are reduced equally for each Policy Month
during the years shown.  For example, during the seventh year, the
percentage is reduced equally each month from 40% at the end of the
sixth Year to 30% at the end of the seventh Year.  This table may be
modified if required by law or regulation of the governing jurisdiction.
<PAGE>
CHARGE ASSESSED UPON PARTIAL WITHDRAWALS OR PRO-RATA SURRENDER.  The
amount of the Contingent Deferred Sales Charge deducted upon a partial
withdrawal or Pro-Rata Surrender will equal a fraction of the charge
that would be deducted if the

                              29

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<PAGE>

Policy were surrendered at that time.  The fraction will be determined
by dividing the amount of the withdrawal of cash by the Cash Value
before the withdrawal and multiplying the result by the charge.
Immediately after a withdrawal, the Policy's remaining surrender charge
will equal the amount of the surrender charge immediately before the
withdrawal less the amount deducted in connection with the withdrawal.

TRANSACTION CHARGES.  There are no transaction charges for processing
the first twelve transfers or partial withdrawals in a policy year.
There is a charge of $25 for each transfer or partial withdrawal in
excess of twelve.

ADJUSTMENT OF CHARGES.  The Policy is available for purchase by
individuals, corporations, and other institutions.  For certain
individuals and certain corporate or other group or sponsored
arrangements purchasing one or more Policies, General American may waive
or adjust the amount of the Sales Charge, Contingent Deferred Sales
Charge, monthly administrative charge, or other charges where the
expenses associated with the sale of the Policy or Policies or the
underwriting or other administrative costs associated with the Policy or
Policies warrant an adjustment.

Sales, underwriting, or other administrative expenses may be reduced for
reasons such as expected economies resulting from a corporate purchase
or a group or sponsored arrangement; from the amount of the initial
premium payment or payments; or from the amount of projected premium
payments.  General American will determine in its discretion if, and in
what amount, an adjustment is appropriate.  The Company may modify its
criteria for qualification for adjustment of charges as experience is
gained, subject to the limitation that such adjustments will not be
unfairly discriminatory against the interests of any Owner.

                     SEPARATE ACCOUNT CHARGES

MORTALITY AND EXPENSE RISK CHARGE.  General American will deduct a daily
charge from the Separate Account.  The amount of the deduction is
determined as a percentage of the average net assets of each Division of
the Separate Account.  The daily deduction percentages, and the
equivalent effective annual rate, are:

  POLICY YEARS              DAILY CHARGE FACTOR      ANNUAL EQUIVALENT
      1-10                       .0015027%                 0.55%
     11-20                       .0012301%                 0.45%
      21+                        .0009572%                 0.35%

This deduction is guaranteed not to increase while the Policy is in
force.  General American may realize a profit from this charge.

The mortality risk assumed by General American is that Insureds may die
sooner than anticipated and that therefore General American will pay an
aggregate amount of death benefits greater than anticipated.  The
expense risk assumed is that expenses incurred in issuing and
administering the Policy will exceed the amounts realized from the
administrative charges assessed against the Policy.

FUND EXPENSES.  The value of the net assets of the Separate Account will
reflect the investment advisory fee and other expenses incurred by the
underlying investment companies.  A summary of the annual Fund operating
expenses is provided on page 7 of this prospectus.  See the prospectuses
for the respective Funds for a description of investment advisory fees
and other expenses.

TAXES.  No charges are currently made to the Separate Account for
Federal, state, or local taxes that the Company incurs which may be
attributable to such Separate Account or to the Policy.  The Company may
make such a charge for any such taxes or economic burden resulting from
the application of the tax laws that it determines to be properly
attributable to the Separate Account or to the Policy.  (See Federal Tax
Matters.)

                            DIVIDENDS

The Policy is issued both as a participating Policy, which provides the
Owner an ownership interest in General American Mutual Holding Company,
the parent company of General American Life Insurance Company and as a
non-participating Policy, which provides no ownership interest in
General American Mutual Holding Company or General American Life
Insurance Company.  However, we do not anticipate that the Policy will
share in the divisible surplus of the Company in the form of a dividend.

                       THE GENERAL ACCOUNT

Because of exemptive and exclusionary provisions, interests in the
General Account have not been registered under the Securities Act of
1933 and the General Account has not been registered as an investment
company under the 1940 Act.  Accordingly, neither the General Account
nor any interests therein are subject to the provisions of these Acts
and, as a result, the staff of the SEC has not reviewed the disclosure
in this Prospectus relating to the General Account.  The disclosure
regarding the General Account may, however, be subject to certain
generally applicable provisions of the Federal

                              30

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<PAGE>

securities laws relating to the accuracy and completeness of statements
made in prospectuses.

                       GENERAL DESCRIPTION

The General Account consists of all assets owned by General American
other than those in the Separate Account and other separate accounts.
Subject to applicable law, General American has sole discretion over the
investment of the assets of the General Account.

At issue, General American will determine the maximum percentage of the
non-borrowed Cash Value that may be allocated, either initially or by
transfer, to the General Account.  The ability to allocate Net Premiums
or to transfer Cash Value to the General Account may not be made
available, in the Company's discretion, under certain Policies.
Further, the option may be limited with respect to some Policies.  The
Company may, from time to time, adjust the extent to which premiums or
Cash Value may be allocated to the General Account (the "maximum
allocation percentage").  Such adjustments may not be uniform as to all
Policies.  General American may at any time modify the General Account
maximum allocation percent.  Subject to this maximum, an Owner may elect
to allocate Net Premiums to the General Account, the Separate Account,
or both.  Subject to this maximum, the Owner may also transfer Cash
Value from the Divisions of the Separate Account to the General Account,
or from the General Account to the Divisions of the Separate Account.
The allocation of Net Premiums or the transfer of Cash Value to the
General Account does not entitle an Owner to share in the investment
experience of the General Account.  Instead, General American guarantees
that Cash Value allocated to the General Account will accrue interest at
a rate of at least 4%, compounded annually, independent of the actual
investment experience of the General Account.

The Loan Account is part of the General Account.

                            THE POLICY

This Prospectus describes a flexible premium variable life insurance
policy.  This Prospectus is generally intended to serve as a disclosure
document only for the aspects of the Policy relating to the Separate
Account.  For complete details regarding the General Account, see the
Policy itself.

                     GENERAL ACCOUNT BENEFITS

If the Owner allocates all Net Premiums only to the General Account and
makes no transfers, partial withdrawals, Pro-Rata Surrenders, or Policy
Loans, the entire investment risk will be borne by General American, and
General American guarantees that it will pay at least a minimum
specified death benefit.  The Owner may select Death Benefit Option A, B
or C under the Policy and may change the Policy's Face Amount subject to
satisfactory evidence of insurability.

                    GENERAL ACCOUNT CASH VALUE

Net Premiums allocated to the General Account are credited to the Cash
Value.  General American bears the full investment risk for these
amounts and guarantees that interest will be credited to each Owner's
Cash Value in the General Account at a rate of no less than 4% per year,
compounded annually.  General American may, AT ITS SOLE DISCRETION,
credit a higher rate of interest, although it is not obligated to credit
interest in excess of 4% per year, and might not do so.  ANY INTEREST
CREDITED ON THE POLICY'S CASH VALUE IN THE GENERAL ACCOUNT IN EXCESS OF
THE GUARANTEED MINIMUM RATE OF 4% PER YEAR WILL BE DETERMINED IN THE
SOLE DISCRETION OF GENERAL AMERICAN.  THE POLICY OWNER ASSUMES THE RISK
THAT INTEREST CREDITED MAY NOT EXCEED THE GUARANTEED MINIMUM RATE OF 4%
PER YEAR.  If excess interest is credited, a different rate of interest
may be applied to the Cash Value in the Loan Account.  The Cash Value in
the General Account will be calculated on each Monthly Anniversary of
the Policy.

General American guarantees that, on each Valuation Date, the Cash Value
in the General Account will be the amount of the Net Premiums allocated
or Cash Value transferred to the General Account, plus interest at the
rate of 4% per year, plus any excess interest which General American
credits and any amounts transferred into the General Account, less the
sum of all Policy charges allocable to the General Account and any
amounts deducted from the General Account in connection with partial
withdrawals, Pro-Rata Surrenders, surrender charges or transfers to the
Separate Account.

    TRANSFERS, SURRENDERS, PARTIAL WITHDRAWALS AND POLICY LOANS

After the first Policy Year, a portion of Cash Value may be withdrawn
from the General Account or transferred from the General Account to the
Separate Account. A partial withdrawal, net of any applicable surrender
charges, and any transfer must be at least $500 or, the Policy's entire
Cash Value in the General Account if less than $500.  No amount may be
withdrawn from the General Account that would result in there being
insufficient Cash Value to meet any surrender charges that would be
payable

                              31

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<PAGE>

immediately following the withdrawal upon the surrender of the remaining
Cash Value of the Policy.  The total amount of transfers and withdrawals
in a Policy Year may not exceed a Maximum Amount equal to the greater of
(a) 25% of a Policy's Cash Surrender Value in the General Account at the
beginning of the Policy Year, or (b) the previous Policy Year's Maximum
Amount (not to exceed the total Cash Surrender Value of the Policy).

Transfers to the General Account are limited by the maximum allocation
percentage (described below) in effect for a Policy at the time a
transfer request is made.

Policy Loans may also be made from the Policy's Cash Value in the
General Account.

Loans and withdrawals from the General Account may have Federal income
tax consequences.  (See Federal Tax Matters.)

There is no transaction charge for the first twelve partial withdrawals
or requested transfers in a Policy Year.  General American will impose a
charge of $25 for each partial withdrawal or requested transfer in
excess of twelve in a Policy Year.  General American may revoke or
modify the privilege of transferring amounts to or from the General
Account at any time.  Partial withdrawals and Pro-Rata Surrenders will
result in the imposition of the applicable surrender charge.

Transfers, surrenders, partial withdrawals and Pro-Rata Surrenders
payable from the General Account and the payment of Policy Loans
allocated to the General Account may, subject to certain limitations, be
delayed for up to six months.  However, if payment is deferred for 30
days or more, General American will pay interest at the rate of 2.5% per
year for the period of the deferment.  Amounts from the General Account
used to pay premiums on policies with General American will not be
delayed.

                         GENERAL MATTERS

        POSTPONEMENT OF PAYMENTS FROM THE SEPARATE ACCOUNT

The Company usually pays amounts payable on partial withdrawal, Pro-Rata
Surrender, surrender, or Policy Loan allocated to the Separate Account
Divisions within seven days after written notice is received.  Payment
of any amount payable from the Divisions of the Separate Account upon
surrender, partial withdrawals, Pro-Rata Surrender, or death of Insured,
as well as payments of a Policy Loan and transfers, may be postponed
whenever: (1) the New York Stock Exchange is closed other than customary
weekend and holiday closings, or trading on the New York Stock Exchange
is restricted as determined by the SEC; (2) the SEC by order permits
postponement for the protection of Owners; or (3) an emergency exists,
as determined by the SEC, as a result of which disposal of securities is
not reasonably practicable or it is not reasonably practicable to
determine the value of the Separate Account's net assets.  The Company
may defer payment of the portion of any Policy Loan from the General
Account for not more than six months.

Payments under the Policy of any amounts derived from premiums paid by
check may be delayed until the Owner's check has cleared the bank upon
which it was drawn.

                           THE CONTRACT

The Policy, the attached application, any riders, endorsements, any
application for an increase in Face Amount, and any application for
reinstatement constitute the entire contract.  All statements made by
the Insured in the application and any supplemental applications can be
used to contest a claim or the validity of the Policy.  Any change to
the Policy must be in writing and approved by the President, a Vice
President, or the Secretary of the Company.  No agent has the authority
to alter or modify any of the terms, conditions, or agreements of the
Policy or to waive any of its provisions.

                        CONTROL OF POLICY

The Insured is the Owner of the Policy unless another person or entity
is shown as the Owner in the application.  Ownership may be changed,
however, as described below.  The Owner is entitled to all rights
provided by the Policy.  Any person whose rights of ownership depend
upon some future event does not possess any present rights of ownership.
If there is more than one Owner at a given time, all Owners must
exercise the rights of ownership by joint action.  If the Owner dies,
and the Owner is not the Insured, the Owner's interest in the Policy
becomes the property of his or her estate unless otherwise provided.
Unless otherwise provided, the Policy is jointly owned by all Owners
named in the Policy or by the survivors of those joint Owners.  Unless
otherwise stated in the Policy, the final Owner is the estate of the
last joint Owner to die.  The Company may rely on the written request of
any trustee of a trust which is the Owner of the Policy, and the Company
is not responsible for the proper administration of any such trust.

                           BENEFICIARY

The Beneficiary(ies) is (are) the person(s) specified in the application
or by later designation.  Unless

                              32

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<PAGE>

otherwise stated in the Policy, the Beneficiary has no rights in a
Policy before the death of the Insured.  If there is more than one
Beneficiary at the death of the Insured, each Beneficiary will receive
equal payments unless otherwise provided by the Owner.  If no
Beneficiary is living at the death of the Insured, the proceeds will be
payable to the Owner or, if the Owner is not living, to the Owner's
estate.

The Company permits the designation of various types of trusts as
Beneficiary(ies), including trusts for minor beneficiaries, trusts under
a will, and trusts under a separate written agreement.  An Owner is also
permitted to designate several types of beneficiaries, including
business beneficiaries.

                  CHANGE OF OWNER OR BENEFICIARY

The Owner may change the ownership and/or Beneficiary designation by
written request in a form acceptable to the Company at any time during
the Insured's lifetime subject to any restrictions stated in the Policy
and this Prospectus.  The Company may require that the Policy be
returned for endorsement of any change.  If acceptable to us, the change
will take effect as of the date the request is signed, whether or not
the Insured is living when the request is received at the Company's Home
Office.  The Company is not  liable for any payment made or action taken
before the Company received the written request for change.  If the
Owner is also a Beneficiary of the Policy at the time of the Insured's
death, the Owner may, within sixty days of the Insured's death,
designate another person to receive the Policy proceeds.  Any change
will be subject to any assignment of the Policy or any other legal
restrictions.

                          POLICY CHANGES

The Company reserves the right to limit the number of changes to a
Policy to one per Policy Year and to restrict changes in the first
Policy Year.  Currently, only one change is permitted during any Policy
Year and no change may be made during the first Policy Year.  For this
purpose, changes include increases or decreases in Face Amount and
changes in the death benefit option.  No change will be permitted, if as
a result, the Policy would fail to satisfy the definition of life
insurance in Section 7702 of the Internal Revenue Code or any applicable
successor provision.

                     CONFORMITY WITH STATUTES

If any provision in a Policy is in conflict with the laws of the state
governing the Policy, the provision will be deemed to be amended to
conform to such laws.  In addition, the Company reserves the right to
change the Policy if it determines that a change is necessary to cause
this Policy to comply with, or give the Owner the benefit of any Federal
or state statute, rule, or regulation, including, but not limited to,
requirements of the Internal Revenue Code, or its regulations or
published rulings.

                       CLAIMS OF CREDITORS

To the extent permitted by law, neither the Policy nor any payment under
it will be subject to the claims of creditors or to any legal process.

                         INCONTESTABILITY

The Policy is incontestable after it has been in force for two years
from the Issue Date during the lifetime of the Insured.  An increase in
Face Amount or addition of a rider after the Issue Date is incontestable
after such increase or addition has been in force for two years from its
effective date during the lifetime of the Insured.  Any reinstatement of
a Policy is incontestable only after it has been in force during the
lifetime of the Insured for two years after the effective date of the
reinstatement.

                            ASSIGNMENT

The Company will be bound by an assignment of a Policy only if: (a) the
assignment is in writing; (b) the original assignment instrument or a
certified copy thereof is filed with the Company at its Home Office; and
(c) the Company returns an acknowledged copy of the assignment
instrument to the Owner.  The Company is not responsible for determining
the validity of any assignment.  Payment of Policy proceeds is subject
to the rights of any assignee of record.  If a claim is based on an
assignment, the Company may require proof of the interest of the
claimant.  A valid assignment will take precedence over the claim of any
Beneficiary.

                             SUICIDE

Suicide within two years of the Issue Date is not covered by the Policy.
If the Insured dies by suicide, while sane or insane, within two years
from the Issue Date (or within the maximum period permitted by the laws
of the state in which the Policy was delivered, if less than two years),
the amount payable will be limited to premiums paid, less any partial
withdrawals and outstanding Indebtedness subject to certain limitations,
if the Insured, while sane or insane, dies by suicide within two years
after the effective date of an increase in Face Amount, the death
benefit for that increase will be limited to the amount of the monthly
deductions for the increase.

<PAGE>
If the Insured is a Missouri citizen when the Policy is issued, this
provision does not apply on the Issue Date of the Policy, or on the
effective date of any increase in Face Amount, unless the Insured
intended

                              33

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<PAGE>

suicide when the Policy, or the increase in Face Amount, was applied
for.

            MISSTATEMENT OF AGE OR SEX AND CORRECTIONS

If the age or sex (except in unisex Policies, see Unisex Requirements
Under Montana Law) of the Insured has been misstated in the application,
the amount of the death benefit will be that which the most recent cost
of insurance charge would have purchased for the correct age and sex.

Any payment or Policy changes made by the Company in good faith, relying
on its records or evidence supplied with respect to such payment, will
fully discharge the Company's duty.  The Company reserves the right to
correct any errors in the Policy.

                  ADDITIONAL INSURANCE BENEFITS

Subject to certain requirements, one or more of the following additional
insurance benefits may be added to a Policy by rider.  The descriptions
below are intended to be general; the terms of the Policy riders
providing the additional benefits may vary from state to state, and the
Policy should be consulted.  The cost of any additional insurance
benefits which require additional charges will be deducted as part of
the monthly deduction from the Policy's Cash Value.  (See Charges and
Deductions - Monthly Deduction.) Certain restrictions may apply and are
described in the applicable rider.  An insurance agent authorized to
sell the Policy can describe these extra benefits further.  Samples of
the provisions are available from General American upon written request.

WAIVER OF MONTHLY DEDUCTION RIDER.  Provides for the waiver of the
monthly deductions while the Insured is totally disabled, subject to
certain limitations described in the rider.  The Insured must have
become disabled after age 5 and before age 65.

WAIVER OF SPECIFIED PREMIUM RIDER.  Provides for crediting the Policy's
Cash Value with a specified monthly premium while the Insured is totally
disabled.  The monthly premium selected at issue is not guaranteed to
keep the Policy in force.  The Insured must have become disabled after
age 5 and before age 65.

ADJUSTABLE BENEFIT TERM RIDER.  This rider allows an employer who is the
Owner to provide adjustable term insurance to comply with the terms of
an associated employee benefit plan.  The increase in coverage occurs on
each Policy Anniversary.

ANNIVERSARY PARTIAL WITHDRAWAL RIDER.  This rider allows the owner to
withdraw up to 15% of the Policy's Cash Surrender Value on any Policy
Anniversary without reducing the Face Amount.  A Contingent Deferred
Sales Charge will still apply.

GUARANTEED SURVIVOR PURCHASE OPTION (GSPO-PLUS).  This rider grants the
policy Owner or the Insured's Beneficiary the option to purchase, upon
the death of the Insured, on the 10th anniversary of the rider, and on
the rider anniversary nearest the Designated Life's 65th birthday, a
specified amount of additional insurance coverage on the Designated Life
(or Lives) without furnishing evidence of insurability.

SUPPLEMENTAL COVERAGE TERM RIDER.  This rider provides level term
insurance on the life of the Insured under the base policy.  It can be
added only at issue.  It cannot be increased or added to an existing
Policy.

PRELIMINARY TERM INSURANCE.  This rider provides preliminary term
insurance from the date of hire of a new employee until the plan
anniversary when a corporate-sponsored Policy is issued.  The rider
provides level term insurance equal to the initial face amount of the
Policy and all attached riders.

ACCELERATED BENEFIT RIDER.  This rider provides a benefit to the Owner
if the Insured becomes terminally ill and is not expected to live more
then twelve months.  The Owner may receive 25%, 50% or 75% (but no more
than $250,000) of the eligible proceeds in a lump sum.  "Eligible
proceeds" means the death benefit that would have been payable had the
insured died on the date the rider is exercised.

CHILDREN'S INSURANCE RIDER.  This rider allows the Policy Owner to add
term insurance coverage on his or her children.

SECONDARY GUARANTEE RIDER.  This rider guarantees that if, during the
secondary guarantee period, the sum of all premiums paid on the Policy,
reduced by any partial withdrawals and any outstanding loan balance, is
greater than or equal to the sum of the secondary guarantee premiums
required since the Issue Date, the Policy will not lapse as a result of
a Cash Value less any loans, loans interest due, and any surrender
charge being insufficient to pay the monthly deduction.

The secondary guarantee period is the lesser of twenty Policy Years, or
the number of Policy Years until the Insured reaches Attained Age 70.
For Policies issued after Attained Age 60, the secondary guarantee
period is ten Policy Years.

LIFETIME COVERAGE RIDER.  This rider provides the continuation of the
Policy's face amount beyond age 100, provided the policy remains in
force to age 100 with a positive cash surrender value.  If the Policy is

                              34

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<PAGE>

in force after the Insured's Attained Age 100, the death benefit will be
the greater of the face amount or 101% of the Cash Value.

                       RECORDS AND REPORTS

The Company will maintain all records relating to the Separate Account
and will mail to the Owner once each Policy Year, at the last known
address of record, a report which shows the current Policy values,
premiums paid, deductions made since the last report, and any
outstanding Policy Loans.  The Owner will also be sent a periodic report
for each Fund.  Receipt of premium payments, transfers, partial
withdrawals, Pro-Rata Surrenders, Policy Loans, loan repayments, changes
in death benefit options, increases or decreases in Face Amount,
surrenders and reinstatements will be confirmed promptly following each
transaction.

An Owner may request in writing a projection of illustrated future Cash
Surrender Values and death benefits.  This projection will be furnished
by the Company for a nominal fee which will not exceed $25.

                   DISTRIBUTION OF THE POLICIES

The Policy will be sold by individuals who, in addition to being
licensed as life insurance agents for the Company, are also registered
representatives of Walnut Street Securities, Inc.  ("Walnut Street"),
the principal underwriter of the Policy, or of broker-dealers who have
entered into written sales agreements with Walnut Street.  Walnut Street
was incorporated under the laws of Missouri in 1984 and is a wholly-
owned subsidiary of General American Holding Company, which is, in turn,
a wholly-owned subsidiary of the Company.  Walnut Street is registered
with the SEC under the Securities Exchange Act of 1934 as a broker-
dealer and is a member of the National Association of Securities
Dealers, Inc.  No director or officer of Walnut Street owns any units in
the Separate Account.

Writing agents will receive commissions based on a commission schedule
and rules.  Currently, agent first-year commissions equal 50% of target
premiums and 2.25% of excess premium paid in Policy Year 1.  In renewal
years, the agent commissions vary from 1.0% to 2.0% of premiums paid in
Policy Years 2 and later, depending on the agent's contract type.  An
additional service fee, determined as a percentage of the Policy's
unloaned Cash Value, is also paid.  The percentage varies by Policy Year
from 0% to 0.20% of average monthly unloaned assets.  Reductions may be
possible under the circumstances outlined in the section entitled
Adjustment of Charges.  General Agents receive compensation which may be
in part based on the level of agent commissions in their agencies.

As principal underwriter for the Policies, Walnut Street receives
commission income.  Walnut Street receives an administrative fee of 2%
of premium from sales of the Policies.

The general agent commission schedules and rules differ for different
types of agency contracts.

General American may use other distribution channels to sell the non-
participating version of the Policy.

                       FEDERAL TAX MATTERS

                           INTRODUCTION

The following summary provides a general description of the Federal
income tax considerations associated with the Policy and does not
purport to be complete or to cover all situations.  This discussion is
not intended as tax advice.  Counsel or other competent tax Advisors
should be consulted for more complete information.  This discussion is
based upon General American's understanding of the present Federal
income tax laws as they are currently interpreted by the Internal
Revenue Service.  No representation is made as to the likelihood of
continuation of the present Federal income tax laws or of the current
interpretations by the Internal Revenue Service.

                     TAX STATUS OF THE POLICY

Section 7702 of the Internal Revenue Code of 1986, as amended (the
"Code") includes a definition of a life insurance contract for Federal
tax purposes.  The Secretary of the Treasury (the "Treasury") issued
proposed regulations which specify what will be considered reasonable
mortality charges under Section 7702.  Guidance as to how Section 7702
is to be applied is, however, limited.  If a Policy were determined not
to be a life insurance contract for purposes of Section 7702, such
Policy would not provide most of the tax advantages normally provided by
a life insurance policy.

With respect to a Policy issued on a basis of a standard premium class
or on a guaranteed or simplified issue basis, while there is some
uncertainty due to the limited guidance under Section 7702, the Company
believes that such a Policy should meet the Section 7702 definition of a
life insurance contract.  However, with respect to a Policy issued on a
substandard basis (i.e., a premium class involving higher than standard
mortality risk), it is not clear whether such a Policy would satisfy
Section 7702,

                              35

<PAGE>
<PAGE>

particularly if the Owner pays the full amount of premiums permitted
under the Policy.

If it is subsequently determined that a Policy does not satisfy Section
7702, the Company will take whatever steps are appropriate and necessary
to attempt to cause such a Policy to comply with Section 7702, including
possibly refunding any premiums paid that exceed the limitations
allowable under Section 7702 (together with interest or other earnings
on any such premiums refunded as required by law).  For these reasons,
the Company reserves the right to modify the Policy as necessary to
attempt to qualify it as a life insurance contract under Section 7702.

Section 817(h) of the Code authorizes the Treasury to set standards by
regulation or otherwise for the investments of the Separate Account to
be "adequately diversified" in order for the Policy to be treated as a
life insurance contract for Federal tax purposes.  The Separate Account,
intends to comply with the diversification requirements prescribed by
the Treasury in Regulation Section 1.817-5, which affect how assets may
be invested.  Although General American does not control the Funds, it
has entered into agreements, which require these investment companies to
be operated in compliance with the requirements prescribed by the
Treasury.

The IRS has stated in published rulings that a variable contract owner
will be considered the owner of separate account assets, for federal
income tax purposes, if the contract owner possesses incidents of
ownership in those assets, such as the ability to exercise investment
control over the assets.  If that were to be determined to be the case,
income and gains from the separate account assets would be includible in
the variable contract owner's gross income.  The Treasury Department has
also announced, in connection with the issuance of regulations
concerning diversification, that those regulations "do not provide
guidance concerning the circumstances in which investor control of the
investments of a segregated asset account may cause the investor (i.e.,
the Owner), rather than the insurance company, to be treated as the
owner of the assets in the account."  This announcement also stated that
guidance would be issued by way of regulations or rulings on the "extent
to which policyholders may direct their investments to particular
subaccounts without being treated as owners of the underlying assets."

The ownership rights under the Policy are different in certain respects
from those described by the IRS in rulings in which it was determined
that policy owners were not owners of separate account assets.  For
example, the Owner has additional flexibility in allocating Premium
payments and Policy Values.  These differences could result in an Owner
being treated as the owner of a pro rata portion of the assets of the
Separate Account.  In addition, the Company does not know what standards
will be set forth, if any, in the regulations or rulings which the
Treasury Department has stated it expects to issue.  The Company
therefore reserves the right to modify the Policy as necessary to
attempt to prevent an Owner from being considered the owner of a pro
rata share of the assets of the Separate Account.

The following discussion assumes that the Policy will qualify as a life
insurance contract for Federal income tax purposes.

l.  TAX TREATMENT OF POLICY BENEFITS.  In general, the Company
believes that the proceeds and Cash Value increases of a Policy should
be treated in a manner consistent with a fixed-benefit life insurance
policy for Federal income tax purposes.  Thus, the death benefit under
the Policy should be excludable from the gross income of the Beneficiary
under Section 101(a)(1) of the Code, unless a transfer for value
(generally a sale of the policy) has occurred.

Many changes or transactions involving a Policy may have tax
consequences, depending on the circumstances.  Such changes include, but
are not limited to, the exchange of the Policy, a change of the Policy's
Face Amount, a Policy Loan, an additional premium payment, a Policy
lapse with an outstanding Policy Loan, a partial withdrawal, or a
surrender of the Policy.  In addition, Federal estate and state and
local estate, inheritance, and other tax consequences of ownership or
receipt of Policy proceeds depend upon the circumstances of each Owner
or Beneficiary.  A competent tax adviser should be consulted for further
information.

A Policy may also be used in various arrangements, including non-
qualified deferred compensation or salary continuation plans, split
dollar insurance plans, executive bonus plans, retiree medical benefit
plans and others.  The tax consequences of such plans may vary depending
on the particular facts and circumstances of each individual
arrangement.  Therefore, if you are contemplating the use of a Policy in
any arrangement the value of which depends in part on its tax
consequences, you should be sure to consult a qualified tax adviser
regarding the tax attributes of the particular arrangement.

Generally, the Owner will not be deemed to be in constructive receipt of
the Policy's Cash Value, including increments thereof, under the Policy
until there is a distribution.  The tax consequences of distributions
from, and Policy Loans taken from or secured by, a Policy depend upon
whether the Policy is classified as a "modified endowment contract".
However, upon a complete surrender or lapse of any

                              36

<PAGE>
<PAGE>

Policy, if the amount received plus the amount of outstanding
Indebtedness exceeds the total investment in the Policy, the excess will
generally be treated as ordinary income subject to tax.

2.  MODIFIED ENDOWMENT CONTRACTS.  A policy may be treated as a
modified endowment contract depending upon the amount of premiums paid
in relation to the death benefit provided under such Policy.  The
premium limitation rules for determining whether a Policy is a modified
endowment contract are extremely complex.  In general, however, a Policy
will be a modified endowment contract if the accumulated premiums paid
at any time during the first seven Policy Years exceed the sum of the
net level premiums which would have been paid on or before such time if
the Policy provided for paid-up future benefits after the payment of
seven level annual premiums.

In addition, if a Policy is "materially changed" it may cause such
Policy to be treated as a modified endowment contract.  The material
change rules for determining whether a Policy is a modified endowment
contract are also extremely complex.  In general, however, the
determination of whether a Policy will be a modified endowment contract
after a material change generally depends upon the relationship among
the death benefit at the time of such change, the Cash Value at the time
of the change and the additional premiums paid in the seven Policy Years
starting with the date on which the material change occurs.

Moreover, a life insurance contract received in exchange for a life
insurance contract classified as a modified endowment contract will also
be treated as a modified endowment contract.  A reduction in a Policy's
benefits may also cause such Policy to become a modified endowment
contract.

Due to the Policy's flexibility, classification of a Policy as a
modified endowment contract will depend upon the circumstances of each
Policy.  The Company has, however, adopted administrative steps designed
to protect an Owner against the possibility that the Policy might become
a modified endowment contract.  The Company believes the safeguards are
adequate for most situations, but it cannot provide complete assurance
that a Policy will not be classified as a modified endowment contract.
At the time a premium is credited which would cause the Policy to become
a modified endowment contract, the Company will notify the Owner that
unless a refund of the excess premium is requested by the Owner, the
Policy will become a modified endowment contract.  The Owner will have
30 days after receiving such notification to request the refund.  The
excess premium paid will be returned to the Owner upon receipt by the
Company of the refund request.  The amount to be refunded will be
deducted from the Policy Cash Value in the Divisions of the Separate
Account and in the General Account in the same proportion as the premium
payment was allocated to such Divisions.

Accordingly, a prospective Owner should contact a competent tax adviser
before purchasing a Policy to determine the circumstances under which
the Policy would be a modified endowment contract.  In addition, an
Owner should contact a competent tax adviser before paying any
additional premiums or making any other change to, including an exchange
of, a Policy to determine whether such premium or change would cause the
Policy (or the new Policy in the case of an exchange) to be treated as a
modified endowment contract.

3.  DISTRIBUTIONS FROM POLICIES CLASSIFIED AS MODIFIED ENDOWMENT
CONTRACT.  Policies classified as modified endowment contracts will be
subject to the following tax rules: First, all distributions, including
distributions upon surrender, from such a Policy are treated as ordinary
income subject to tax up to the amount equal to the excess (if any) of
the Cash Value immediately before the distribution over the investment
in the Policy (described below) at such time.  Second, Policy Loans
taken from, or secured by, such a Policy, as well as due but unpaid
interest thereon, are treated as distributions from such a Policy and
taxed accordingly.  Third, a 10 percent additional income tax is imposed
on the portion of any distribution from, or Policy Loan taken from or
secured by, such a Policy that (a) is included in income, except where
the distribution or Policy Loan is made on or after the Owner attains
age 59-1/2, (b) is attributable to the Owner's becoming disabled, or (c)
is part of a series of substantially equal periodic payments for the
life (or life expectancy) of the Owner or the joint lives (or joint life
expectancies) of the Owner and the Owner's Beneficiary.

4.  DISTRIBUTIONS FROM POLICIES NOT CLASSIFIED AS MODIFIED ENDOWMENT
CONTRACT.  Distributions from  Policies not classified as a modified
endowment contracts are generally treated as first recovering the
investment in the Policy (described below) and then, only after the
return of all such investment in the Policy, as distributing taxable
income.  An exception to this general rule occurs in the case of a
decrease in the Policy's death benefit (possibly including a partial
withdrawal) or any other change that reduces benefits under the Policy
in the first 15 years after the Policy is issued and that results in
cash distribution to the Owner in order for the Policy to continue
complying with the Section 7702 definitional limits.  Such a cash
distribution will be taxed in whole or in part as ordinary income (to
the extent of any gain in the Policy) under rules prescribed in Section
7702.

                              37

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<PAGE>

Policy Loans from, or secured by, a Policy that is not a modified
endowment contract are not treated as distributions.  Instead, such
loans are treated as indebtedness of the Owner.

Upon a complete surrender or lapse of a Policy that is not a modified
endowment contract, if the amount received plus the amount of
indebtedness exceeds the total investment in the Policy, the excess will
generally be treated as ordinary income subject to tax.

Neither distributions (including distributions upon surrender or lapse)
nor Policy Loans from, or secured by, a Policy that is not a modified
endowment contract are subject to the 10 percent additional income tax.

If a Policy which is not a modified endowment contract subsequently
becomes a modified endowment contract, then any distribution made from
the Policy within two years prior to the date of such change in status
may become taxable.

5.  POLICY LOAN INTEREST.  Generally, interest paid on any loan under
a life insurance Policy owned by an individual is not deductible.  In
addition, interest on any loan under a life insurance Policy owned by a
business taxpayer on the life of any individual who is an officer of or
is financially interested in the business carried on by that taxpayer is
deductible only under certain very limited circumstances.  AN OWNER
SHOULD CONSULT A COMPETENT TAX ADVISER BEFORE DEDUCTING ANY LOAN
INTEREST.

6.  INTEREST EXPENSE ON UNRELATED INDEBTEDNESS.  Under provisions
added to the Code in 1997 for policies issued after June 8, 1997, if a
business taxpayer owns or is the beneficiary of a Policy on the life of
any individual who is not an officer, director, employee, or 20 percent
owner of the business, and the taxpayer also has debt unrelated to the
Policy, a portion of the taxpayer's unrelated interest expense
deductions may be lost.  No business taxpayer should purchase, exchange,
or increase the death benefit under a Policy on the life of any
individual who is not an officer, director, employee, or 20 percent
owner of the business without first consulting a competent tax Advisor.

7.  INVESTMENT IN THE POLICY.  Investment in the Policy means (i) the
aggregate amount of any premiums or other consideration paid for a
Policy, minus (ii) the aggregate amount received under the Policy which
is excluded from gross income of the Owner (except that the amount of
any Policy Loan from, or secured by, a Policy that is a modified
endowment contract, to the extent such amount is excluded from gross
income, will be disregarded), plus (iii) the amount of any Policy Loan
from, or secured by, a Policy that is a modified endowment contract to
the extent that such amount is included in the gross income of the
Owner.

8.  MULTIPLE POLICIES.  All modified endowment contracts that are
issued by the Company (or its affiliates) to the same Owner during any
calendar year are treated as one modified endowment contract for
purposes of determining the amount includible in gross income under
Section 72(e) of the Code.

9.  POSSIBLE CHARGE FOR TAXES.  At the present time, the Company makes
no charge to the Separate Account for any Federal, state, or local taxes
(as opposed to Premium Tax Charges which are deducted from premium
payments) that it incurs which may be attributable to such Separate
Account or to the Policies.  The Company, however, reserves the right in
the future to make a charge for any such tax or other economic burden
resulting from the application of the tax laws that it determines to be
properly attributable to the Separate Account or to the Policies.

              UNISEX REQUIREMENTS UNDER MONTANA LAW

The State of Montana generally prohibits the use of actuarial tables
that distinguish between men and women in determining premiums and
Policy benefits for policies issued on the lives of their residents.
Therefore, all Policies offered by this Prospectus to insure residents
of Montana will have premiums and benefits which are based on actuarial
tables that do not differentiate on the basis of sex.

                              38

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<PAGE>

              SAFEKEEPING OF THE SEPARATE ACCOUNT'S ASSETS

General American holds the assets of the Separate Account in a custodial
account in its name at the Bank of New York.  The Company maintains
records of all purchases and redemptions of applicable Fund shares by
each of the Divisions.  Additional protection for the assets of the
Separate Account is afforded by a blanket fidelity bond issued by
Lloyd's Underwriters in the amount of five million dollars, covering all
officers and employees of the Company who have access to the assets of
the Separate Account.

                          VOTING RIGHTS

Based on its understanding of current applicable legal requirements, the
Company will vote the shares of the Funds held in the Separate Account
at regular and special shareholder meetings of the mutual funds in
accordance with the instructions received from persons having voting
interests in the corresponding Divisions of the Separate Account.  If,
however, the 1940 Act or any regulation thereunder should be amended or
if the present interpretation thereof should change, and as a result the
Company determines that it is permitted to vote shares of the Fund in
its own right, it may elect to do so.  No voting privileges apply to the
Policies with respect to Cash Value removed from the Separate Account as
a result of a Policy Loan.

The number of votes which an Owner has the right to instruct will be
calculated separately for each Division.  Voting rights reflect the
dollar value of the total number of units of each Division of the
Separate Account credited to the Owner at the record date, rather than
the number of units alone.  Fractional shares will be counted.  The
number of votes of the Fund which the Owner has the right to instruct
will be determined as of the date coincident with the date established
by that Fund for determining shareholders eligible.  Voting instructions
will be solicited by written communications prior to such meeting in
accordance with procedures established by the mutual funds.

The company will vote shares of a Fund for which no timely instructions
are received in proportion to the voting instructions which are received
with respect to that Fund.  The Company will also vote any shares of the
Funds which are not attributable to Policies in the same proportion.

Each person having a voting interest in a Division will receive any
proxy material, reports, and other materials relating to the appropriate
Fund.

DISREGARD OF VOTING INSTRUCTIONS.  The Company may, when required by
state insurance regulatory authorities, disregard voting instructions if
the instructions require that the shares be voted so as to cause a
change in the subclassification or investment objective of the Fund or
to approve or disapprove an investment Advisory contract for a Fund.  In
addition, the Company itself may disregard voting instructions in favor
of changes initiated by an Owner in the investment policy or the
investment adviser or sub-adviser of a Fund if the Company reasonably
disapproves of such changes.  A proposed change would be disapproved
only if the proposed change is contrary to state law or prohibited by
state regulatory authorities, or the Company determined that the change
would have an adverse effect on its General Account in that the proposed
investment policy for a Fund may result in overly speculative or unsound
investments.  If the Company disregards voting instructions, a summary
of that action and the reasons for such action will be included in the
next annual report to Owners.

                 STATE REGULATION OF THE COMPANY

The Company, a stock life insurance company organized under the laws of
Missouri, and the Separate Account are subject to regulation by the
Missouri Department of Insurance.  An annual statement is filed with the
Director of Insurance on or before March 1st of each year covering the
operations and reporting on the financial condition of the Company as of
December 31 of the preceding year.  Periodically, the Director of
Insurance examines the liabilities and reserves of the Company and the
Separate Account and certifies their adequacy, and a full examination of
the Company's operations is conducted by the National Association of
Insurance Commissioners at least once every three years.

In addition, the Company is subject to the insurance laws and
regulations of other states within which it is licensed or may become
licensed to operate.  Generally, the insurance departments of other
states apply the laws of the state of domicile in determining
permissible investments.

                              39

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<TABLE>
                              MANAGEMENT OF THE COMPANY

<CAPTION>
                                              PRINCIPAL OCCUPATION (S)
          NAME                               DURING PAST FIVE YEARS<F*>
          ----                               --------------------------
<C>                          <S>
PRINCIPAL OFFICERS<F**>
- -----------------------

Richard A. Liddy             Chairman, President and CEO, 1/95-present; Chairman of the Executive
                             Committee, 5/92-present.  Formerly President and CEO, 5/92-1/95.

Robert J. Banstetter, Sr.    Vice President, General Counsel and Secretary, 2/91-present.

John W. Barber               Vice President and Controller, 12/84-present.

Kevin C. Eichner             Executive Vice President of General American, President and Chairman of
                             GenMark, Chairman of Walnut Street Securities, 10/97-Present.  President
                             and CEO, Collaborative Strategies, 1983-Present.


David L. Herzog              Chief Financial Officer, GenAmerica Corporation, 1/99-present.  President,
                             GenAmerica Management Corporation, 10/98-present.  Formerly Assistant to
                             the President, General American and GenAmerica, 1996-1999, Chief
                             Financial Officer, Individual Line, General American, 1995-1996, Manager,
                             Investor Relations, Reinsurance Group of America and GenCare Health
                             Systems, 1993-1995.

E. Thomas Hughes             Corporate Actuary and Treasurer, 10/94-present.  Formerly Executive Vice
                             President-Group Pensions, 3/90-10/94

Michael P. Ingrassia         Vice President-Group Executive Accounts, 3/92-present.

Warren J. Winer              Executive Vice President-Group Life and Health, 8/95-present.  Formerly
                             Managing Director, William M. Mercer, Inc., 7/93-8/95; President and
                             Chief Operating Officer, W. F. Corroon, 1986-7/93.

Bernard H. Wolzenski         Executive Vice President-Individual Insurance, 10/91-present.

A. Greig Woodring            President and Chief Executive Officer, Reinsurance Group of America,
                             12/92-present.

<FN>
<F*>   All positions listed are with General American unless otherwise
       indicated.
<F**>  The principal business address of Messrs. Banstetter, Hughes, and
       Liddy is General American Life Insurance Company, 700 Market
       Street, St. Louis, Missouri 63101.  The principal business address
       for Messrs. Barber, Boudreaux, Ingrassia, Winer and Wolzenski is
       13045 Tesson Ferry Road, St. Louis, Missouri 63128.  The principal
       business address for Mr. Woodring is 660 Mason Ridge Center Drive,
       Suite 300, St. Louis, Missouri 63141.  The principal business
       address for Mr. Eichner is 670 Mason Ridge Center Drive, Suite 100,
       St. Louis, Missouri 63141.
</TABLE>

                              40

<PAGE>
<PAGE>

<TABLE>
<CAPTION>

           NAME                                              PRINCIPAL OCCUPATIONS (S)
           ----                                              DURING PAST FIVE YEARS<F*>
                                                             --------------------------

DIRECTORS
- ---------
<C>                                            <S>
August A. Busch III                            Chairman of the Board and President, Anheuser-Busch Companies.
Anheuser-Busch Companies, Inc.                 Inc. (beer business).
One Busch Place
St. Louis, Missouri 63118

William E. Cornelius                           Retired Chairman and Chief Executive Officer, Union Electric
Union Electric Company                         Company (electric utility business).
P.O. Box 149
St. Louis, Missouri 63166

John C. Danforth                               Partner, Bryan Cave (law firm). Formerly, U. S. Senator, State of
Bryan Cave                                     Missouri
One Metropolitan Square, Suite 3600
St. Louis, Missouri 63102

Bernard A. Edison                              Past President, Edison Brothers Stores, Inc. (retail specialty stores).
Edison Brothers Stores, Inc.
P.O. Box 14020
St. Louis, Missouri 63178

Richard A. Liddy                               Chairman, President and CEO, General American
General American Life Insurance Co.
700 Market Street
St. Louis, MO 63101

William E. Maritz                              Chairman and Chief Executive Officer, Maritz, Inc.
Maritz, Inc.                                   (motivation, travel, communications, training and marketing
1375 North Highway Drive                       research business).
Fenton, Missouri 63099

Craig D. Schnuck                               Chairman and Chief Executive Officer, Schnuck Markets, Inc.
Schnuck Markets, Inc.                          (retail supermarket chain).
11420 Lackland Road
P.O. Box 46928
St. Louis, Missouri 63146

William P. Stiritz                             Chairman, Chief Executive Officer and President, Agribrands
Agribrands International, Inc.                 International, Inc.  Formerly Chairman, Chief Executive Officer and
9811 So. Forty Drive                           President, Ralston Purina Company (pet food, batteries, and bread
St. Louis, Missouri 63124                      business); Chairman, Ralcorp Holdings, Inc. (ready-to-eat cereal,
                                               baby food, ski resorts).

Andrew C. Taylor                               Chief Executive Officer and President, Enterprise Rent-A-Car (car
Enterprise Rent-A-Car                          rental).
600 Corporate Park Drive
St. Louis, Missouri 63105

                              41

<PAGE>
<PAGE>

<CAPTION>

           NAME                                              PRINCIPAL OCCUPATIONS (S)
           ----                                              DURING PAST FIVE YEARS<F*>
                                                             --------------------------

DIRECTORS (CONTINUED)
- ---------------------
<C>                                            <S>

H. Edwin Trusheim                              Retired Chairman and Chief Executive Officer, General American
General American Life Insurance Co.            Life Insurance Company
P.O. Box 396
St. Louis, MO 63166


Robert L. Virgil                               Principal, Edward Jones (investments).
Edward Jones
12555 Manchester
St. Louis, Missouri 63131-3729

Virginia V. Weldon, M.D.                       Director, Center for the Study of American Business, Washington
Monsanto Company                               University.  Retired Senior Vice President, Public Policy,
800 North Lindbergh                            Monsanto Company (chemicals diversified industry,
St. Louis, Missouri 63167                      pharmaceuticals, life science products, and food ingredients
                                               business).

Ted C. Wetterau                                President, Wetterau Associates, L.L.C.  Retired Chairman and
Wetterau Associates, L.L.C.                    Chief Executive Officer, Wetterau Incorporated (retail and
7700 Bonhomme, Suite 750                       wholesale grocery, manufacturing business).
St. Louis, Missouri 63105

<FN>
<F*>  All positions listed are with General American unless otherwise
indicated.
</TABLE>

                              42

<PAGE>
<PAGE>

                          LEGAL MATTERS

All matters of Missouri law pertaining to the Policy, including the
validity of the Policy and General American's right to issue the Policy
under Missouri insurance law, have been passed upon by Matthew P.
McCauley, Vice President and Associate General Counsel of General
American.

                        LEGAL PROCEEDINGS

There are no legal proceedings to which the Separate Account is a party
or to which the assets of the Separate Account are subject.  General
American is not involved in any litigation that is of material
importance in relation to its total assets or that relates to the
Separate Account.

                             EXPERTS

The audited financial statements of General American and the Separate
Account have been included in this Prospectus in reliance on the reports
of KPMG LLP independent certified public accountants, and on the authority
of said firm as experts in accounting and auditing.

Actuarial matters included in this Prospectus have been examined by
Susan Benjamin, FSA, MAAA, Senior Product Actuary of General American,
as stated in the opinion filed as an exhibit to the registration
statement.

                      ADDITIONAL INFORMATION

A registration statement has been filed with the Securities and Exchange
Commission, under the Securities Act of 1933, as amended, with respect
to the Policy offered hereby.  This Prospectus does not contain all the
information set forth in the registration statement and the amendments
and exhibits to the registration statement, to all of which reference is
made for further information concerning the Separate Account, General
American and the Policy offered hereby.  Statements contained in this
Prospectus as to the contents of the Policy and other legal instruments
are summaries.  For a complete statement of the terms thereof reference
is made to such instruments as filed.

Like all financial services providers, General American utilizes systems
that may be affected by the Year 2000 transition issues, and it relies
on services providers, including the Funds, that may also be affected.
The Company has developed, and is in the process of implementing, a Year
2000 transition plan, and is confirming that its services providers are
also so engaged.  The resources that are being devoted to this effort
are substantial.  It is difficult to predict with precision whether the
amount of resources ultimately devoted, or the outcome of these efforts,
will have any negative impact on the Company.  However, as of the date
of this prospectus, we do not anticipate that Policy Owners will
experience negative effects on their investment, or on the services
provided in connection therewith, as a result of Year 2000 transition
implementation.  General American currently anticipates that its systems
will be Year 2000 compliant, but there can be no assurance that the
Company will be successful, or that interaction with other service
providers will not impair the Company's services at that time.

                       FINANCIAL STATEMENTS

The financial statements of General American which are included in this
Prospectus should be distinguished from the financial statements of the
Separate Account, and should be considered only as bearing on the
ability of General American to meet its obligations under the Policy.
They should not be considered as bearing on the investment performance
of the assets held in the Separate Account.


                              43

<PAGE>
<PAGE>

                            APPENDIX A
         ILLUSTRATIONS OF DEATH BENEFITS AND CASH VALUES

The following tables illustrate how the Cash Value, Cash Surrender
Value, and death benefit of a Policy change with the investment
experience of a Division of the Separate Account.  The tables show how
the Cash Value, Cash Surrender Value, and death benefit of a Policy
issued to an insured of a given age and at a given premium would vary
over time if the investment return on the assets held in each Division
of the Separate Account were a uniform, gross, after-tax annual rate of
0%, 6%, or 12%.  The tables illustrate Policies issued in Missouri
(using a 2% premium tax rate and a 1.3% federal tax charge) to males,
age 35 and 50 in a preferred nonsmoker rate class.  If the insured falls
into a smoker rate class, the Cash Values, Cash Surrender Values, and
death benefits would be lower than those shown in the tables.  In
addition, the Cash Values, Cash Surrender Values, and death benefits
would be different from those shown if the gross annual investment rates
of return averaged 0%, 6%, and 12% over a period of years, but
fluctuated above and below those averages for individual Policy Years.

The Cash Value column under the "Guaranteed" heading shows the
accumulated value of the Net Premiums paid at the stated interest rate,
reflecting deduction of all policy charges described in this prospectus
at the guaranteed maximum rate.  The Cash Surrender Value column under
the "Guaranteed" heading shows the projected Cash Surrender Value of the
Policy, which is calculated by taking the Cash Value under the
"Guaranteed" heading and deducting any appropriate Contingent Deferred
Sales Charge.  The Cash value column under the "Current" heading shows
the accumulated value of the Net Premiums paid at the stated interest
rate, reflecting deduction of all policy charges as described in this
prospectus at the current rate.  The Cash Surrender Value column under
the "Current" heading shows the projected Cash Surrender Value of the
Policy, which is calculated by taking the Cash Value under the "Current"
heading and deducting any appropriate Contingent Deferred Sales Charge.
The illustrations of death benefits reflect the above assumptions.  The
death benefits also vary between tables depending upon whether Death
Benefit Options A or C (Level Type) or Death Benefit Option B
(Increasing Type) are illustrated.

The amounts deducted from the Cash Value in the illustrations include
the sales charge, premium tax, federal tax charge, selection and issue
expense charge, monthly administrative charge, and cost of insurance.
These charges are described in the prospectus under Charges and
Deductions.

The amounts shown for Cash Value, Cash Surrender Value, and death
benefit reflect charges that produce an investment rate of return that
is lower than the gross return on the assets held in a Division of the
Separate Account.  The charges include a charge for mortality and
expense risk (equivalent to .55% for Policy Years 1-10, .45% for Policy
Years 11-20, and .35% thereafter), and an assumed .78% charge for the
investment Advisory fee and Fund administrative expenses combined, based
on the average Fund expense for all available investment Funds.  The
actual investment advisory fee applicable to each Division is shown in
the respective Prospectuses of each Fund.  After deduction for these
amounts, the illustrated gross annual investment rates of return of 0%,
6%, and 12% correspond to approximate initial net annual rates of -
1.33%, 4.67%, and 10.67%, respectively.  The Prospectuses for each Fund
should be consulted for details about the nature and extent of their
expenses.

The hypothetical values shown in the tables do not reflect any charges
for Federal income taxes against the Separate Account (as opposed to
Premium Charges which are deducted from premium payments), since General
American is not currently making any such charges.  However, such
charges may be made in the future and, in that event, the gross annual
investment rate of return of the Divisions of the Separate Account would
have to exceed 0%, 6%, and 12% by an amount sufficient to cover the tax
charges in order to produce the death benefit and Cash Value
illustration.  (See Federal Tax Matters.)

The tables illustrate the Policy values that would result based upon the
investment rates of return if premiums are paid as indicated, if all Net
Premiums are allocated to the Separate Account, if no Policy Loans have
been made.  The tables are also based on the assumptions that the Owner
has not requested an increase or decrease in the Face Amount, that no
partial withdrawals have been made, that no transfer charges were
incurred, and that no optional riders have been requested.

Upon request, General American will provide a comparable illustration
based upon the proposed Insured's age, sex, and rate class, the Face
Amount or premium requested, the proposed frequency of premium payments,
and any available riders requested.

                              44

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION A)                                              ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)


<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM     CASH                                 CASH
 OF             ANNUAL    ACCUM    SURRENDER    CASH     DEATH          SURRENDER   CASH    DEATH
YEAR     AGE   PAYMENT     @ 5%      VALUE      VALUE   BENEFIT           VALUE     VALUE  BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>       <C>         <C>      <C>             <C>        <C>     <C>
 1        35    3,000      3,150       890      1,768   250,000             654     1,531  250,000
 2        36    3,000      6,458     3,031      3,909   250,000           2,567     3,444  250,000
 3        36    3,000      9,930     5,097      5,975   250,000           4,431     5,308  250,000
 4        37    3,000     13,577     7,116      7,994   250,000           6,245     7,123  250,000
 5        37    3,000     17,406     9,092      9,970   250,000           8,005     8,883  250,000
 6        38    3,000     21,426    11,135     11,915   250,000           9,808    10,588  250,000
 7        38    3,000     25,647    13,232     13,817   250,000          11,647    12,232  250,000
 8        39    3,000     30,080    15,291     15,681   250,000          13,426    13,816  250,000
 9        39    3,000     34,734    17,311     17,506   250,000          15,140    15,335  250,000
 10       40    3,000     39,620    19,298     19,298   250,000          16,789    16,789  250,000
 11       40    3,000     44,751    21,440     21,440   250,000          18,555    18,555  250,000
 12       41    3,000     50,139    23,554     23,554   250,000          20,244    20,244  250,000
 13       41    3,000     55,796    25,637     25,637   250,000          21,853    21,853  250,000
 14       42    3,000     61,736    27,692     27,692   250,000          23,379    23,379  250,000
 15       42    3,000     67,972    29,725     29,725   250,000          24,815    24,815  250,000
 16       43    3,000     74,521    31,689     31,689   250,000          26,157    26,157  250,000
 17       43    3,000     81,397    33,590     33,590   250,000          27,393    27,393  250,000
 18       44    3,000     88,617    35,423     35,423   250,000          28,509    28,509  250,000
 19       44    3,000     96,198    37,186     37,186   250,000          29,493    29,493  250,000
 20       45    3,000    104,158    38,876     38,876   250,000          30,328    30,328  250,000
 21       45    3,000    112,516    40,530     40,530   250,000          31,033    31,033  250,000
 22       46    3,000    121,291    42,102     42,102   250,000          31,561    31,561  250,000
 23       46    3,000    130,506    43,587     43,587   250,000          31,902    31,902  250,000
 24       47    3,000    140,181    44,977     44,977   250,000          32,042    32,042  250,000
 25       47    3,000    150,340    46,262     46,262   250,000          31,956    31,956  250,000
 26       48    3,000    161,007    47,431     47,431   250,000          31,617    31,617  250,000
 27       48    3,000    172,208    48,476     48,476   250,000          30,997    30,997  250,000
 28       49    3,000    183,968    49,387     49,387   250,000          30,054    30,054  250,000
 29       49    3,000    196,317    50,155     50,155   250,000          28,739    28,739  250,000
 30       50    3,000    209,282    50,767     50,767   250,000          26,995    26,995  250,000

 </TABLE>

CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       45
<PAGE>
<PAGE>
<TABLE>

                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                       MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION A)                                             ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,019      1,897   250,000             775     1,652  250,000
 2        36    3,000      6,458     3,419      4,297   250,000           2,925     3,803  250,000
 3        36    3,000      9,930     5,884      6,762   250,000           5,153     6,030  250,000
 4        37    3,000     13,577     8,445      9,322   250,000           7,459     8,337  250,000
 5        37    3,000     17,406    11,109     11,986   250,000           9,844    10,721  250,000
 6        38    3,000     21,426    13,990     14,770   250,000          12,406    13,186  250,000
 7        38    3,000     25,647    17,084     17,669   250,000          15,144    15,729  250,000
 8        39    3,000     30,080    20,301     20,691   250,000          17,965    18,355  250,000
 9        39    3,000     34,734    23,648     23,843   250,000          20,866    21,061  250,000
 10       40    3,000     39,620    27,134     27,134   250,000          23,853    23,853  250,000
 11       40    3,000     44,751    30,978     30,978   250,000          27,134    27,134  250,000
 12       41    3,000     50,139    35,007     35,007   250,000          30,521    30,521  250,000
 13       41    3,000     55,796    39,226     39,226   250,000          34,019    34,019  250,000
 14       42    3,000     61,736    43,649     43,649   250,000          37,630    37,630  250,000
 15       42    3,000     67,972    48,289     48,289   250,000          41,355    41,355  250,000
 16       43    3,000     74,521    53,115     53,115   250,000          45,197    45,197  250,000
 17       43    3,000     81,397    58,141     58,141   250,000          49,151    49,151  250,000
 18       44    3,000     88,617    63,374     63,374   250,000          53,214    53,214  250,000
 19       44    3,000     96,198    68,824     68,824   250,000          57,382    57,382  250,000
 20       45    3,000    104,158    74,499     74,499   250,000          61,649    61,649  250,000
 21       45    3,000    112,516    80,488     80,488   250,000          66,077    66,077  250,000
 22       46    3,000    121,291    86,731     86,731   250,000          70,607    70,607  250,000
 23       46    3,000    130,506    93,241     93,241   250,000          75,245    75,245  250,000
 24       47    3,000    140,181   100,030    100,030   250,000          79,991    79,991  250,000
 25       47    3,000    150,340   107,109    107,109   250,000          84,842    84,842  250,000
 26       48    3,000    161,007   114,493    114,493   250,000          89,793    89,793  250,000
 27       48    3,000    172,208   122,198    122,198   250,000          94,843    94,843  250,000
 28       49    3,000    183,968   130,244    130,244   250,000          99,983    99,983  250,000
 29       49    3,000    196,317   138,654    138,654   250,000         105,203   105,203  250,000
 30       50    3,000    209,282   147,454    147,454   250,000         110,496   110,496  250,000

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       46
<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION A)                                               ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,148      2,026   250,000             896     1,774  250,000
 2        36    3,000      6,458     3,824      4,701   250,000           3,299     4,177  250,000
 3        36    3,000      9,930     6,736      7,614   250,000           5,935     6,813  250,000
 4        37    3,000     13,577     9,940     10,817   250,000           8,828     9,705  250,000
 5        37    3,000     17,406    13,470     14,347   250,000          12,000    12,877  250,000
 6        38    3,000     21,426    17,471     18,251   250,000          15,579    16,359  250,000
 7        38    3,000     25,647    21,972     22,557   250,000          19,592    20,177  250,000
 8        39    3,000     30,080    26,923     27,313   250,000          23,979    24,369  250,000
 9        39    3,000     34,734    32,372     32,567   250,000          28,777    28,972  250,000
 10       40    3,000     39,620    38,378     38,378   250,000          34,033    34,033  250,000
 11       40    3,000     44,751    45,240     45,240   250,000          40,026    40,026  250,000
 12       41    3,000     50,139    52,847     52,847   250,000          46,627    46,627  250,000
 13       41    3,000     55,796    61,279     61,279   250,000          53,905    53,905  250,000
 14       42    3,000     61,736    70,629     70,629   250,000          61,935    61,935  250,000
 15       42    3,000     67,972    81,003     81,003   250,000          70,800    70,800  250,000
 16       43    3,000     74,521    92,476     92,476   250,000          80,598    80,598  250,000
 17       43    3,000     81,397   105,177    105,177   250,000          91,428    91,428  250,000
 18       44    3,000     88,617   119,242    119,242   250,000         103,407   103,407  250,000
 19       44    3,000     96,198   134,826    134,826   250,000         116,671   116,671  250,000
 20       45    3,000    104,158   152,102    152,102   250,000         131,370   131,370  250,000
 21       45    3,000    112,516   171,418    171,418   257,126         147,819   147,819  250,000
 22       46    3,000    121,291   192,816    192,816   281,512         166,120   166,120  250,000
 23       46    3,000    130,506   216,500    216,500   307,430         186,480   186,480  264,801
 24       47    3,000    140,181   242,715    242,715   334,946         208,991   208,991  288,407
 25       47    3,000    150,340   271,735    271,735   364,124         233,864   233,864  313,378
 26       48    3,000    161,007   303,866    303,866   395,026         261,362   261,362  339,771
 27       48    3,000    172,208   339,414    339,414   434,450         291,702   291,702  373,378
 28       49    3,000    183,968   378,742    378,742   477,215         325,174   325,174  409,719
 29       49    3,000    196,317   422,255    422,255   523,597         362,100   362,100  449,004
 30       50    3,000    209,282   470,403    470,403   573,891         402,841   402,841  491,466

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       47

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION B)                                              ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150       889      1,766   251,766             650     1,528  251,528
 2        36    3,000      6,458     3,026      3,904   253,904           2,557     3,434  253,434
 3        36    3,000      9,930     5,086      5,964   255,964           4,410     5,288  255,288
 4        37    3,000     13,577     7,096      7,973   257,973           6,210     7,087  257,087
 5        37    3,000     17,406     9,060      9,937   259,937           7,951     8,828  258,828
 6        38    3,000     21,426    11,088     11,868   261,868           9,729    10,509  260,509
 7        38    3,000     25,647    13,168     13,753   263,753          11,537    12,122  262,122
 8        39    3,000     30,080    15,205     15,595   265,595          13,280    13,670  263,670
 9        39    3,000     34,734    17,201     17,396   267,396          14,950    15,145  265,145
 10       40    3,000     39,620    19,160     19,160   269,160          16,549    16,549  266,549
 11       40    3,000     44,751    21,271     21,271   271,271          18,256    18,256  268,256
 12       41    3,000     50,139    23,349     23,349   273,349          19,874    19,874  269,874
 13       41    3,000     55,796    25,393     25,393   275,393          21,401    21,401  271,401
 14       42    3,000     61,736    27,405     27,405   277,405          22,833    22,833  272,833
 15       42    3,000     67,972    29,392     29,392   279,392          24,160    24,160  274,160
 16       43    3,000     74,521    31,301     31,301   281,301          25,380    25,380  275,380
 17       43    3,000     81,397    33,136     33,136   283,136          26,475    26,475  276,475
 18       44    3,000     88,617    34,894     34,894   284,894          27,431    27,431  277,431
 19       44    3,000     96,198    36,569     36,569   286,569          28,235    28,235  278,235
 20       45    3,000    104,158    38,157     38,157   288,157          28,865    28,865  278,865
 21       45    3,000    112,516    39,692     39,692   289,692          29,337    29,337  279,337
 22       46    3,000    121,291    41,128     41,128   291,128          29,603    29,603  279,603
 23       46    3,000    130,506    42,457     42,457   292,457          29,654    29,654  279,654
 24       47    3,000    140,181    43,669     43,669   293,669          29,474    29,474  279,474
 25       47    3,000    150,340    44,750     44,750   294,750          29,036    29,036  279,036
 26       48    3,000    161,007    45,687     45,687   295,687          28,313    28,313  278,313
 27       48    3,000    172,208    46,467     46,467   296,467          27,276    27,276  277,276
 28       49    3,000    183,968    47,078     47,078   297,078          25,885    25,885  275,885
 29       49    3,000    196,317    47,508     47,508   297,508          24,091    24,091  274,091
 30       50    3,000    209,282    47,741     47,741   297,741          21,844    21,844  271,844


</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       48

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                       MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION B)                                             ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,017      1,895   251,895             771     1,649  251,649
 2        36    3,000      6,458     3,414      4,291   254,291           2,914     3,792  253,792
 3        36    3,000      9,930     5,871      6,749   256,749           5,129     6,006  256,006
 4        37    3,000     13,577     8,420      9,298   259,298           7,417     8,294  258,294
 5        37    3,000     17,406    11,069     11,946   261,946           9,775    10,653  260,653
 6        38    3,000     21,426    13,930     14,710   264,710          12,304    13,084  263,084
 7        38    3,000     25,647    16,998     17,583   267,583          14,997    15,582  265,582
 8        39    3,000     30,080    20,182     20,572   270,572          17,761    18,151  268,151
 9        39    3,000     34,734    23,488     23,683   273,683          20,591    20,786  270,786
 10       40    3,000     39,620    26,926     26.926   276,926          23,491    23,491  273,491
 11       40    3,000     44,751    30,712     30,712   280,712          26,663    26,663  276,663
 12       41    3,000     50,139    34,673     34,673   284,673          29,917    29,917  279,917
 13       41    3,000     55,796    38,812     38,812   288,812          33,252    33,252  283,252
 14       42    3,000     61,736    43,143     43,143   293,143          36,668    36,668  286,668
 15       42    3,000     67,972    47,679     47,679   297,679          40,157    40,157  290,157
 16       43    3,000     74,521    52,378     52,378   302,378          43,717    43,717  293,717
 17       43    3,000     81,397    57,248     57,248   307,248          47,336    47,336  297,336
 18       44    3,000     88,617    62,294     62,294   312,294          50,997    50,997  300,997
 19       44    3,000     96,198    67,517     67,517   317,517          54,686    54,686  304,686
 20       45    3,000    104,158    72,921     72,921   322,921          58,384    58,384  308,384
 21       45    3,000    112,516    78,582     78,582   328,582          62,132    62,132  312,132
 22       46    3,000    121,291    84,435     84,435   334,435          65,855    65,855  315,855
 23       46    3,000    130,506    90,478     90,478   340,478          69,540    69,540  319,540
 24       47    3,000    140,181    96,711     96,711   346,711          73,167    73,167  323,167
 25       47    3,000    150,340   103,126    103,126   353,126          76,702    76,702  326,702
 26       48    3,000    161,007   109,718    109,718   359,718          80,111    80,111  330,111
 27       48    3,000    172,208   116,480    116,480   366,480          83,354    83,354  333,354
 28       49    3,000    183,968   123,406    123,406   373,406          86,378    86,378  336,378
 29       49    3,000    196,317   130,490    130,490   380,490          89,116    89,116  339,116
 30       50    3,000    209,282   137,721    137,721   387,721          91,501    91,501  341,501

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       49

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION B)                                               ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,147      2,024   252,024             893     1,770  251,770
 2        36    3,000      6,458     3,818      4,695   254,695           3,287     4,165  264,165
 3        36    3,000      9,930     6,721      7,599   257,599           5,908     6,786  256,786
 4        37    3,000     13,577     9,911     10,788   260,788           8,777     9,655  259,655
 5        37    3,000     17,406    13,420     14,298   264,298          11,916    12,793  262,793
 6        38    3,000     21,426    17,394     18,174   268,174          15,447    16,227  266,227
 7        38    3,000     25,647    21,857     22,442   272,442          19,395    19,980  269,980
 8        39    3,000     30,080    26,758     27,148   277,442          23,696    24,086  274,086
 9        39    3,000     34,734    32,142     32,337   282,337          28,380    33,488  278,575
 10       40    3,000     39,620    38,066     38,066   288,066          33,488    33,488  283,488
 11       40    3,000     44,751    44,824     44,824   294,824          39,287    39,287  289,287
 12       41    3,000     50,139    52,302     52,302   302,302          45,641    45,641  295,641
 13       41    3,000     55,796    60,576     60,576   310,576          52,602    52,602  302,602
 14       42    3,000     61,736    69,734     69,734   319,734          60,231    60,231  310,231
 15       42    3,000     67,972    79,878     79,878   329,878          68,590    68,590  318,590
 16       43    3,000     74,521    91,059     91,059   341,059          77,753    77,753  327,753
 17       43    3,000     81,397   103,390    103,390   353,390          87,786    87,786  337,786
 18       44    3,000     88,617   116,990    116,990   366,990          98,766    98,766  348,766
 19       44    3,000     96,198   131,990    131,990   381,990         110,778   110,778  360,778
 20       45    3,000    104,158   148,535    148,535   398,535         123,911   123,911  373,911
 21       45    3,000    112,516   166,935    166,935   416,935         138,393   138,393  388,393
 22       46    3,000    121,291   187,248    187,248   437,248         154,236   154,236  404,236
 23       46    3,000    130,506   209,673    209,673   459,673         171,575   171,575  421,575
 24       47    3,000    140,181   234,427    234,427   484,427         190,555   190,555  440,555
 25       47    3,000    150,340   261,748    261,748   511,748         211,323   211,323  461,323
 26       48    3,000    161,007   291,900    291,900   541,900         234,042   234,042  484,042
 27       48    3,000    172,208   325,174    325,174   575,174         258,889   258,889  508,889
 28       49    3,000    183,968   361,896    361,896   611,896         286,050   286,050  536,050
 29       49    3,000    196,317   402,426    402,426   652,426         315,721   315,721  565,721
 30       50    3,000    209,282   447,159    447,159   697,159         348,118   348,118  598,118

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       50
<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION C)                                              ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150       890      1,768   250,000             654     1,531  250,000
 2        36    3,000      6,458     3,031      3,909   250,000           2,567     3,444  250,000
 3        36    3,000      9,930     5,097      5,975   250,000           4,431     5,308  250,000
 4        37    3,000     13,577     7,116      7,994   250,000           6,245     7,123  250,000
 5        37    3,000     17,406     9,092      9,970   250,000           8,005     8,883  250,000
 6        38    3,000     21,426    11,135     11,915   250,000           9,808    10,588  250,000
 7        38    3,000     25,647    13,232     13,817   250,000          11,647    12,232  250,000
 8        39    3,000     30,080    15,291     15,681   250,000          13,426    13,816  250,000
 9        39    3,000     34,734    17,311     17,506   250,000          15,140    15,335  250,000
 10       40    3,000     39,620    19,298     19,298   250,000          16,789    16,789  250,000
 11       40    3,000     44,751    21,440     21,440   250,000          18,555    18,555  250,000
 12       41    3,000     50,139    23,554     23,554   250,000          20,244    20,244  250,000
 13       41    3,000     55,796    25,637     25,637   250,000          21,853    21,853  250,000
 14       42    3,000     61,736    27,692     27,692   250,000          23,379    23,379  250,000
 15       42    3,000     67,972    29,725     29,725   250,000          24,815    24,815  250,000
 16       43    3,000     74,521    31,689     31,689   250,000          26,157    26,157  250,000
 17       43    3,000     81,397    33,590     33,590   250,000          27,393    27,393  250,000
 18       44    3,000     88,617    35,423     35,423   250,000          28,509    28,509  250,000
 19       44    3,000     96,198    37,186     37,186   250,000          29,493    29,493  250,000
 20       45    3,000    104,158    38,876     38,876   250,000          30,328    30,328  250,000
 21       45    3,000    112,516    40,530     40,530   250,000          31,033    31,033  250,000
 22       46    3,000    121,291    42,102     42,102   250,000          31,561    31,561  250,000
 23       46    3,000    130,506    43,587     43,587   250,000          31,902    31,902  250,000
 24       47    3,000    140,181    44,977     44,977   250,000          32,042    32,042  250,000
 25       47    3,000    150,340    46,262     46,262   250,000          31,956    31,956  250,000
 26       48    3,000    161,007    47,431     47,431   250,000          31,617    31,617  250,000
 27       48    3,000    172,208    48,476     48,476   250,000          30,997    30,997  250,000
 28       49    3,000    183,968    49,387     49,387   250,000          30,054    30,054  250,000
 29       49    3,000    196,317    50,155     50,155   250,000          28,739    28,739  250,000
 30       50    3,000    209,282    50,767     50,767   250,000          26,995    26,995  250,000

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       51
<PAGE>
<PAGE>
<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION C)                                              ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,019      1,897   250,000             775     1,652  250,000
 2        36    3,000      6,458     3,419      4,297   250,000           2,925     3,803  250,000
 3        36    3,000      9,930     5,884      6,762   250,000           5,153     6,030  250,000
 4        37    3,000     13,577     8,445      9,322   250,000           7,459     8,337  250,000
 5        37    3,000     17,406    11,109     11,986   250,000           9,844    10,721  250,000
 6        38    3,000     21,426    13,990     14,770   250,000          12,406    13,186  250,000
 7        38    3,000     25,647    17,084     17,669   250,000          15,144    15,729  250,000
 8        39    3,000     30,080    20,301     20,691   250,000          17,965    18,355  250,000
 9        39    3,000     34,734    23,648     23,843   250,000          20,866    21,061  250,000
 10       40    3,000     39,620    27,134     27,134   250,000          23,853    23,853  250,000
 11       40    3,000     44,751    30,978     30,978   250,000          27,134    27,134  250,000
 12       41    3,000     50,139    35,007     35,007   250,000          30,521    30,521  250,000
 13       41    3,000     55,796    39,226     39,226   250,000          34,019    34,019  250,000
 14       42    3,000     61,736    43,649     43,649   250,000          37,630    37,630  250,000
 15       42    3,000     67,972    48,289     48,289   250,000          41,355    41,355  250,000
 16       43    3,000     74,521    53,115     53,115   250,000          45,197    45,197  250,000
 17       43    3,000     81,397    58,141     58,141   250,000          49,151    49,151  250,000
 18       44    3,000     88,617    63,374     63,374   250,000          53,214    53,214  250,000
 19       44    3,000     96,198    68,824     68,824   250,000          57,382    57,382  250,000
 20       45    3,000    104,158    74,499     74,499   250,000          61,649    61,649  250,000
 21       45    3,000    112,516    80,488     80,488   250,000          66,077    66,077  250,000
 22       46    3,000    121,291    86,731     86,731   250,000          70,607    70,607  250,000
 23       46    3,000    130,506    93,241     93,241   250,000          75,245    75,245  250,000
 24       47    3,000    140,181   100,030    100,030   250,000          79,991    79,991  250,000
 25       47    3,000    150,340   107,109    107,109   250,000          84,842    84,842  250,000
 26       48    3,000    161,007   114,493    114,493   250,000          89,793    89,793  250,000
 27       48    3,000    172,208   122,198    122,198   250,000          94,843    94,843  250,000
 28       49    3,000    183,968   130,244    130,244   250,000          99,983    99,983  250,000
 29       49    3,000    196,317   138,653    138,653   251,046         105,203   105,203  250,000
 30       50    3,000    209,282   147,411    147,411   260,106         110,496   110,496  250,000

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       52

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 35
DEATH BENEFIT LEVEL (OPTION C)                                               ANNUAL PREMIUM = $3,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        35    3,000      3,150     1,148      2,026   250,000             896     1,774  250,000
 2        36    3,000      6,458     3,824      4,701   250,000           3,299     4,177  250,000
 3        36    3,000      9,930     6,736      7,614   250,000           5,935     6,813  250,000
 4        37    3,000     13,577     9,940     10,817   250,000           8,828     9,705  250,000
 5        37    3,000     17,406    13,470     14,347   250,000          12,000    12,877  250,000
 6        38    3,000     21,426    17,471     18,251   250,000          15,579    16,359  250,000
 7        38    3,000     25,647    21,972     22,557   250,000          19,592    20,177  250,000
 8        39    3,000     30,080    26,923     27,313   250,000          23,979    24,369  250,000
 9        39    3,000     34,734    32,372     32,567   250,000          28,777    28,972  250,000
 10       40    3,000     39,620    38,378     38,378   250,000          34,033    34,033  250,000
 11       40    3,000     44,751    45,240     45,240   250,000          40,026    40,026  250,000
 12       41    3,000     50,139    52,847     52,847   250,000          46,627    46,627  250,000
 13       41    3,000     55,796    61,279     61,279   250,000          53,905    53,905  250,000
 14       42    3,000     61,736    70,629     70,629   250,000          61,935    61,935  250,000
 15       42    3,000     67,972    81,003     81,003   250,000          70,800    70,800  250,000
 16       43    3,000     74,521    92,476     92,476   250,000          80,598    80,598  250,000
 17       43    3,000     81,397   105,162    105,162   269,361          91,428    91,428  250,000
 18       44    3,000     88,617   119,150    119,150   295,836         103,402   103,402  256,736
 19       44    3,000     96,198   134,568    134,568   323,999         116,545   116,545  280,605
 20       45    3,000    104,158   151,559    151,559   353,967         130,918   130,918  305,759
 21       45    3,000    112,516   170,433    170,433   386,270         146,757   146,757  332,611
 22       46    3,000    121,291   191,240    191,240   420,785         164,071   164,071  361,005
 23       46    3,000    130,506   214,170    214,170   457,702         182,989   182,989  391,066
 24       47    3,000    140,181   239,432    239,432   497,180         203,652   203,652  422,883
 25       47    3,000    150,340   267,249    267,249   539,442         226,199   226,199  456,583
 26       48    3,000    161,007   297,868    297,868   584,685         250,784   250,784  492,265
 27       48    3,000    172,208   331,559    331,559   633,211         277,570   277,570  530,103
 28       49    3,000    183,968   368,618    368,618   685,262         306,720   306,720  570,192
 29       49    3,000    196,317   409,373    409,373   741,211         338,401   338,401  612,709
 30       50    3,000    209,282   454,177    454,177   801,396         372,792   372,792  657,791

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       53
<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION A)                                              ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,185      3,906   250,000           1,296     3,017  250,000
 2        51    6,000     12,915     6,532      8,254   250,000           4,787     6,508  250,000
 3        51    6,000     19,861    10,739     12,460   250,000           8,130     9,851  250,000
 4        52    6,000     27,154    14,817     16,538   250,000          11,315    13,036  250,000
 5        52    6,000     34,811    18,722     20,494   250,000          14,325    16,046  250,000
 6        53    6,000     42,852    22,815     24,345   250,000          17,340    18,870  250,000
 7        53    6,000     51,295    26,945     28,093   250,000          20,349    21,497  250,000
 8        54    6,000     60,159    30,981     31,746   250,000          23,154    23,919  250,000
 9        54    6,000     69,467    34,912     35,295   250,000          25,744    26,127  250,000
 10       55    6,000     79,241    38,736     38,736   250,000          28,098    28,098  250,000
 11       55    6,000     89,503    42,777     42,777   250,000          30,564    30,564  250,000
 12       56    6,000    100,278    46,685     46,685   250,000          32,752    32,752  250,000
 13       56    6,000    111,592    50,480     50,480   250,000          34,629    34,629  250,000
 14       57    6,000    123,471    54,180     54,180   250,000          36,155    36,155  250,000
 15       57    6,000    135,945    57,797     57,797   250,000          37,288    37,288  250,000
 16       58    6,000    149,042    60,991     60,991   250,000          37,988    37,988  250,000
 17       58    6,000    162,794    64,001     64,001   250,000          38,220    38,220  250,000
 18       59    6,000    177,234    66,814     66,814   250,000          37,941    37,941  250,000
 19       59    6,000    192,396    69,417     69,417   250,000          37,105    37,105  250,000
 20       60    6,000    208,316    71,794     71,794   250,000          35,647    35,647  250,000
 21       60    6,000    225,031    74,006     74,006   250,000          33,507    33,507  250,000
 22       61    6,000    242,583    75,964     75,964   250,000          30,392    30,392  250,000
 23       61    6,000    261,012    77,652     77,652   250,000          26,387    26,387  250,000
 24       62    6,000    280,363    79,051     79,051   250,000          21,157    21,157  250,000
 25       62    6,000    300,681    80,131     80,131   250,000          14,467    14,467  250,000
 26       63    6,000    322,015    80,862     80,862   250,000           6,084     6,084  250,000
 27       63    6,000    344,415    81,206     81,206   250,000           <F*>      <F*>     <F*>
 28       64    6,000    367,936    81,113     81,113   250,000           <F*>      <F*>     <F*>
 29       64    6,000    392,633    80,532     80,532   250,000           <F*>      <F*>     <F*>
 30       65    6,000    418,565    79,404     79,404   250,000

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

[FN]
<F*> UNLESS ADDITIONAL PREMIUM IS PAID, POLICY WILL LAPSE WITHOUT VALUE

                                       54

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                       MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION A)                                             ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,455      4,176   250,000           1,537     3,258  250,000
 2        51    6,000     12,915     7,346      9,068   250,000           5,492     7,213  250,000
 3        51    6,000     19,861    12,383     14,104   250,000           9,529    11,250  250,000
 4        52    6,000     27,154    17,582     19,303   250,000          13,643    15,364  250,000
 5        52    6,000     34,811    22,958     24,679   250,000          17,822    19,543  250,000
 6        53    6,000     42,852    28,729     30,259   250,000          22,249    23,779  250,000
 7        53    6,000     51,295    34,906     36,053   250,000          26,917    28,064  250,000
 8        54    6,000     60,159    41,317     42,082   250,000          31,632    32,397  250,000
 9        54    6,000     69,467    47,966     48,348   250,000          36,390    36,772  250,000
 10       55    6,000     79,241    54,861     54,861   250,000          41,175    41,175  250,000
 11       55    6,000     89,503    62,391     62,391   250,000          46,387    46,387  250,000
 12       56    6,000    100,278    70,225     70,225   250,000          51,651    51,651  250,000
 13       56    6,000    111,592    78,400     78,400   250,000          56,951    56,951  250,000
 14       57    6,000    123,471    86,953     86,953   250,000          62,263    62,263  250,000
 15       57    6,000    135,945    95,922     95,922   250,000          67,567    67,567  250,000
 16       58    6,000    149,042   105,054    105,054   250,000          72,846    72,846  250,000
 17       58    6,000    162,794   114,575    114,575   250,000          78,093    78,093  250,000
 18       59    6,000    177,234   124,510    124,510   250,000          83,298    83,298  250,000
 19       59    6,000    192,396   134,892    134,892   250,000          88,454    88,454  250,000
 20       60    6,000    208,316   145,760    145,760   250,000          93,547    93,547  250,000
 21       60    6,000    225,031   157,311    157,311   250,000          98,643    98,643  250,000
 22       61    6,000    242,583   169,471    169,471   250,000         103,527   103,527  250,000
 23       61    6,000    261,012   182,311    182,311   250,000         108,316   108,316  250,000
 24       62    6,000    280,363   195,910    195,910   250,000         112,863   112,863  250,000
 25       62    6,000    300,681   210,364    210,364   250,000         117,108   117,108  250,000
 26       63    6,000    322,015   225,787    225,787   250,000         121,015   121,015  250,000
 27       63    6,000    344,415   242,292    242,292   254,406         124,545   124,545  250,000
 28       64    6,000    367,936   259,596    259,596   272,576         127,659   127,659  250,000
 29       64    6,000    392,633   277,677    277,677   291,560         130,317   130,317  250,000
 30       65    6,000    418,565   296,560    296,560   311,388         132,447   132,447  250,000

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       55

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION A)                                               ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>     <C>              <C>        <C>      <C>
 1        50    6,000      6,300     2,725      4,447   250,000           1,779     3,501  250,000
 2        51    6,000     12,915     8,194      9,916   250,000           6,228     7,949  250,000
 3        51    6,000     19,861    14,162     15,884   250,000          11,049    12,770  250,000
 4        52    6,000     27,154    20,696     22,417   250,000          16,277    17,998  250,000
 5        52    6,000     34,811    27,864     29,586   250,000          21,942    23,663  250,000
 6        53    6,000     42,852    35,948     37,478   250,000          28,277    29,807  250,000
 7        53    6,000     51,295    45,028     46,176   250,000          35,329    36,476  250,000
 8        54    6,000     60,159    55,014     55,779   250,000          42,968    43,733  250,000
 9        54    6,000     69,467    66,000     66,382   250,000          51,261    51,644  250,000
 10       55    6,000     79,241    78,097     78,097   250,000          60,278    60,278  250,000
 11       55    6,000     89,503    91,867     91,867   250,000          70,559    70,559  250,000
 12       56    6,000    100,278   107,115    107,115   250,000          81,856    81,856  250,000
 13       56    6,000    111,592   124,038    124,038   250,000          94,296    94,296  250,000
 14       57    6,000    123,471   142,850    142,850   250,000         108,027   108,027  250,000
 15       57    6,000    135,945   163,789    163,789   250,000         123,232   123,232  250,000
 16       58    6,000    149,042   186,971    186,971   250,000         140,138   140,138  250,000
 17       58    6,000    162,794   212,828    212,828   253,265         159,028   159,028  250,000
 18       59    6,000    177,234   241,492    241,492   284,960         180,242   180,242  250,000
 19       59    6,000    192,396   273,157    273,157   319,593         204,201   204,201  250,000
 20       60    6,000    208,316   308,135    308,135   357,436         231,207   231,207  268,201
 21       60    6,000    225,031   347,084    347,084   399,147         261,196   261,196  300,375
 22       61    6,000    242,583   390,209    390,209   440,937         294,312   294,312  332,572
 23       61    6,000    261,012   437,984    437,984   486,163         330,966   330,966  367,373
 24       62    6,000    280,363   490,944    490,944   535,129         371,569   371,569  405,010
 25       62    6,000    300,681   549,697    549,697   588,176         416,629   416,629  445,793
 26       63    6,000    322,015   614,936    614,936   645,683         466,759   466,759  490,097
 27       63    6,000    344,415   687,100    687,100   721,454         522,011   522,011  548,112
 28       64    6,000    367,936   766,900    766,900   805,245         582,879   582,879  612,023
 29       64    6,000    392,633   855,123    855,123   897,879         649,899   649,899  682,394
 30       65    6,000    418,565   952,629    952,629 1,000,260         723,651   723,651  759,834

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.


                                       56

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION B)                                              ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,179      3,901   253,901           1,276     2,997  252,997
 2        51    6,000     12,915     6,512      8,233   258,233           4,728     6,449  256,449
 3        51    6,000     19,861    10,691     12,412   262,412           8,008     9,729  259,729
 4        52    6,000     27,154    14,727     16,448   266,448          11,103    12,825  262,825
 5        52    6,000     34,811    18,624     20,346   270,346          13,995    15,716  265,716
 6        53    6,000     42,852    22,592     24,122   274,122          16,858    18,388  268,388
 7        53    6,000     51,295    26,627     27,774   277,774          19,677    20,825  270,825
 8        54    6,000     60,159    30,548     31,313   281,313          22,251    23,016  273,016
 9        54    6,000     69,467    34,342     34,724   284,724          24,566    24,948  274,948
 10       55    6,000     79,241    38,001     38,001   288,001          26,595    26,595  276,595
 11       55    6,000     89,503    41,836     41,836   291,836          28,676    28,676  278,676
 12       56    6,000    100,278    45,497     45,497   295,497          30,409    30,409  280,409
 13       56    6,000    111,592    49,004     49,004   299,004          31,754    31,754  281,754
 14       57    6,000    123,471    52,377     52,377   302,377          32,665    32,665  282,665
 15       57    6,000    135,945    55,631     55,631   305,631          33,092    33,092  283,092
 16       58    6,000    149,042    58,309     58,309   308,309          32,992    32,992  282,992
 17       58    6,000    162,794    60,722     60,722   310,722          32,332    32,332  282,332
 18       59    6,000    177,234    62,846     62,846   312,846          31,071    31,071  281,071
 19       59    6,000    192,396    64,658     64,658   314,658          29,172    29,172  279,172
 20       60    6,000    208,316    66,132     66,132   316,132          26,584    26,584  276,584
 21       60    6,000    225,031    67,310     67,310   317,310          23,251    23,251  273,251
 22       61    6,000    242,583    68,096     68,096   318,096          18,895    18,895  268,895
 23       61    6,000    261,012    68,467     68,467   318,467          13,684    13,684  263,684
 24       62    6,000    280,363    68,391     68,391   318,391           7,323     7,323  257,323
 25       62    6,000    300,681    67,827     67,827   317,827           <F*>      <F*>     <F*>
 26       63    6,000    322,015    66,735     66,735   316,735           <F*>      <F*>     <F*>
 27       63    6,000    344,415    65,062     65,062   315,062           <F*>      <F*>     <F*>
 28       64    6,000    367,936    62,750     62,750   312,750           <F*>      <F*>     <F*>
 29       64    6,000    392,633    59,740     59,740   309,740           <F*>      <F*>     <F*>
 30       65    6,000    418,565    55,974     55,974   305,974           <F*>      <F*>     <F*>

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

[FN]
<F*> UNLESS ADDITIONAL PREMIUM IS PAID, POLICY WILL LAPSE WITHOUT VALUE

                                       57

                                       <PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                       MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION B)                                             ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,449      4,170   254,170           1,516     3,237  253,237
 2        51    6,000     12,915     7,324      9,045   259,045           5,426     7,147  257,147
 3        51    6,000     19,861    12,328     14,049   264,049           9,388    11,109  261,109
 4        52    6,000     27,154    17,475     19,196   269,196          13,390    15,111  265,111
 5        52    6,000     34,811    22,775     24,496   274,496          17,411    19,132  269,132
 6        53    6,000     42,852    28,442     29,972   279,972          21,624    23,154  273,154
 7        53    6,000     51,295    34,480     35,628   285,628          26,009    27,157  277,157
 8        54    6,000     60,159    40,715     41,480   291,480          30,362    31,127  281,127
 9        54    6,000     69,467    47,140     47,523   297,523          34,663    35,045  285,045
 10       55    6,000     79,241    53,756     53,756   303,756          38,879    38,879  288,879
 11       55    6,000     89,503    60,921     60,921   310,921          43,378    43,378  293,378
 12       56    6,000    100,278    68,297     68,297   318,297          47,759    47,759  297,759
 13       56    6,000    111,592    75,912     75,912   325,912          51,972    51,972  301,972
 14       57    6,000    123,471    83,796     83,796   333,796          55,954    55,954  305,954
 15       57    6,000    135,945    91,978     91,978   341,978          59,639    59,639  309,639
 16       58    6,000    149,042    99,996     99,996   349,996          62,961    62,961  312,961
 17       58    6,000    162,794   108,157    108,157   358,157          65,862    65,862  315,862
 18       59    6,000    177,234   116,441    116,441   366,441          68,273    68,273  318,273
 19       59    6,000    192,396   124,825    124,825   374,825          70,126    70,126  320,126
 20       60    6,000    208,316   133,283    133,283   383,283          71,332    71,332  321,332
 21       60    6,000    225,031   141,923    141,923   391,923          71,838    71,838  321,838
 22       61    6,000    242,583   150,595    150,595   400,595          71,275    71,275  321,275
 23       61    6,000    261,012   159,269    159,269   409,269          69,752    69,752  319,752
 24       62    6,000    280,363   167,910    167,910   417,910          66,908    66,908  316,908
 25       62    6,000    300,681   176,469    176,469   426,469          62,525    62,525  312,525
 26       63    6,000    322,015   184,894    184,894   434,894          56,425    56,425  306,425
 27       63    6,000    344,415   193,119    193,119   443,119          48,427    48,427  298,427
 28       64    6,000    367,936   201,066    201,066   451,066          38,356    38,356  288,356
 29       64    6,000    392,633   208,656    208,656   458,656          26,046    26,046  276,046
 30       65    6,000    418,565   215,801    215,801   465,801          11,281    11,281  261,281

</TABLE>



CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       58

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION B)                                               ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>     <C>              <C>        <C>      <C>
 1        50    6,000      6,300     2,719      4,440   254,440           1,757     3,478  253,478
 2        51    6,000     12,915     8,169      9,891   259,891           6,155     7,876  257,876
 3        51    6,000     19,861    14,100     15,821   265,821          10,888    12,609  262,609
 4        52    6,000     27,154    20,569     22,291   272,291          15,976    17,697  267,697
 5        52    6,000     34,811    27,639     29,361   279,361          21,433    23,154  273,154
 6        53    6,000     42,852    35,581     37,111   287,111          27,472    29,002  279,002
 7        53    6,000     51,295    44,463     45,610   295,610          34,113    35,260  285,260
 8        54    6,000     60,159    54,181     54,946   304,946          41,195    41,960  291,960
 9        54    6,000     69,467    64,812     65,194   315,194          48,748    49,130  299,130
 10       55    6,000     79,241    76,400     76,440   326,440          56,789    56,789  306,789
 11       55    6,000     89,503    89,573     89,573   339,573          65,789    65,789  315,789
 12       56    6,000    100,278   103,985    103,985   353,985          75,416    75,416  325,416
 13       56    6,000    111,592   119,834    119,834   369,834          85,691    85,691  335,691
 14       57    6,000    123,471   137,293    137,293   387,293          96,628    96,628  346,628
 15       57    6,000    135,945   156,550    156,550   406,550         108,241   108,241  358,241
 16       58    6,000    149,042   177,312    177,312   427,312         120,551   120,551  370,551
 17       58    6,000    162,794   200,065    200,065   450,065         133,590   133,590  383,590
 18       59    6,000    177,234   224,993    224,993   474,993         147,387   147,387  397,387
 19       59    6,000    192,396   252,303    252,303   502,303         161,978   161,978  411,978
 20       60    6,000    208,316   282,220    282,220   532,220         177,384   177,384  427,384
 21       60    6,000    225,031   315,278    315,278   565,278         193,776   193,776  443,776
 22       61    6,000    242,583   351,529    351,529   601,529         210,826   210,826  460,826
 23       61    6,000    261,012   391,292    391,292   641,292         228,772   228,772  478,772
 24       62    6,000    280,363   434,910    434,910   684,910         247,389   247,389  497,389
 25       62    6,000    300,681   482,756    482,756   732,756         266,594   266,594  516,594
 26       63    6,000    322,015   535,239    535,239   785,239         286,345   286,345  536,345
 27       63    6,000    344,415   592,806    592,806   842,806         306,603   306,603  556,603
 28       64    6,000    367,936   655,940    655,940   905,940         327,340   327,340  577,340
 29       64    6,000    392,633   725,180    725,180   975,180         348,544   348,544  598,544
 30       65    6,000    418,565   801,120    801,120 1,051,120         370,157   370,157  620,157

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       59


<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                        MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION C)                                              ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 0.00% (NET RATE OF -1.33%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,185      3,906   250,000           1,296     3,017  250,000
 2        51    6,000     12,915     6,532      8,254   250,000           4,787     6,508  250,000
 3        51    6,000     19,861    10,739     12,460   250,000           8,130     9,851  250,000
 4        52    6,000     27,154    14,817     16,538   250,000          11,315    13,036  250,000
 5        52    6,000     34,811    18,772     20,494   250,000          14,325    16,046  250,000
 6        53    6,000     42,852    22,815     24,345   250,000          17,340    18,870  250,000
 7        53    6,000     51,295    26,945     28,093   250,000          20,349    21,497  250,000
 8        54    6,000     60,159    30,981     31,746   250,000          23,154    23,919  250,000
 9        54    6,000     69,467    34,912     35,295   250,000          25,744    26,127  250,000
 10       55    6,000     79,241    38,736     38,736   250,000          28,098    28,098  250,000
 11       55    6,000     89,503    42,777     42,777   250,000          30,564    30,564  250,000
 12       56    6,000    100,278    46,685     46,685   250,000          32,752    32,752  250,000
 13       56    6,000    111,592    50,480     50,480   250,000          34,629    34,629  250,000
 14       57    6,000    123,471    54,180     54,180   250,000          36,155    36,155  250,000
 15       57    6,000    135,945    57,797     57,797   250,000          37,288    37,288  250,000
 16       58    6,000    149,042    60,991     60,991   250,000          37,988    37,988  250,000
 17       58    6,000    162,794    64,001     64,001   250,000          38,220    38,220  250,000
 18       59    6,000    177,234    66,814     66,814   250,000          37,941    37,941  250,000
 19       59    6,000    192,396    69,417     69,417   250,000          37,105    37,105  250,000
 20       60    6,000    208,316    71,794     71,794   250,000          35,647    35,647  250,000
 21       60    6,000    225,031    74,006     74,006   250,000          33,507    33,507  250,000
 22       61    6,000    242,583    75,964     75,964   250,000          30,392    30,392  250,000
 23       61    6,000    261,012    77,652     77,652   250,000          26,387    26,387  250,000
 24       62    6,000    280,363    79,051     79,051   250,000          21,157    21,157  250,000
 25       62    6,000    300,681    80,131     80,131   250,000          14,467    14,467  250,000
 26       63    6,000    322,015    80,862     80,862   250,000           6,084     6,084  250,000
 27       63    6,000    344,415    81,206     81,206   250,000           <F*>      <F*>     <F*>
 28       64    6,000    367,936    81,113     81,113   250,000           <F*>      <F*>     <F*>
 29       64    6,000    392,633    80,532     80,532   250,000           <F*>      <F*>     <F*>
 30       65    6,000    418,565    79,404     79,404   250,000           <F*>      <F*>     <F*>

</TABLE>




CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

[FN]
<F*> UNLESS ADDITIONAL PREMIUM IS PAID, POLICY WILL LAPSE WITHOUT VALUE

                                       60

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                       MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION C)                                             ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 6.00% (NET RATE OF 4.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>       <C>            <C>        <C>      <C>
 1        50    6,000      6,300     2,455      4,176   250,000           1,537     3,258  250,000
 2        51    6,000     12,915     7,346      9,068   250,000           5,492     7,213  250,000
 3        51    6,000     19,861    12,383     14,104   250,000           9,529    11,250  250,000
 4        52    6,000     27,154    17,582     19,303   250,000          13,643    15,364  250,000
 5        52    6,000     34,811    22,958     24,679   250,000          17,822    19,543  250,000
 6        53    6,000     42,852    28,729     30,259   250,000          22,249    23,779  250,000
 7        53    6,000     51,295    34,906     36,053   250,000          26,917    28,064  250,000
 8        54    6,000     60,159    41,317     42,082   250,000          31,632    32,397  250,000
 9        54    6,000     69,467    47,966     48,348   250,000          36,390    36,772  250,000
 10       55    6,000     79,241    54,861     54,861   250,000          41,175    41,175  250,000
 11       55    6,000     89,503    62,391     62,391   250,000          46,387    46,387  250,000
 12       56    6,000    100,278    70,225     70,225   250,000          51,651    51,651  250,000
 13       56    6,000    111,592    78,400     78,400   250,000          56,951    56,951  250,000
 14       57    6,000    123,471    86,953     86,953   250,000          62,263    62,263  250,000
 15       57    6,000    135,945    95,922     95,922   250,000          67,567    67,567  250,000
 16       58    6,000    149,042   105,054    105,054   250,000          72,846    72,846  250,000
 17       58    6,000    162,794   114,575    114,575   250,000          78,093    78,093  250,000
 18       59    6,000    177,234   124,510    124,510   250,000          83,298    83,298  250,000
 19       59    6,000    192,396   134,892    134,892   250,000          88,454    88,454  250,000
 20       60    6,000    208,316   145,760    145,760   250,000          93,547    93,547  250,000
 21       60    6,000    225,031   157,311    157,311   250,000          98,643    98,643  250,000
 22       61    6,000    242,583   169,455    169,455   254,013         103,527   103,527  250,000
 23       61    6,000    261,012   182,062    182,062   267,359         108,316   108,316  250,000
 24       62    6,000    280,363   195,121    195,121   280,858         112,863   112,863  250,000
 25       62    6,000    300,681   208,640    208,640   294,621         117,108   117,108  250,000
 26       63    6,000    322,015   222,629    222,629   308,697         121,015   121,015  250,000
 27       63    6,000    344,415   237,093    237,093   323,086         124,545   124,545  250,000
 28       64    6,000    367,936   252,037    252,037   337,806         127,659   127,659  250,000
 29       64    6,000    392,633   267,469    267,469   352,871         130,317   130,317  250,000
 30       65    6,000    418,565   283,396    283,396   368,245         132,447   132,447  250,000

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       61

<PAGE>
<PAGE>

<TABLE>
                             GENERAL AMERICAN LIFE INSURANCE COMPANY
                            FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE


POLICY FACE AMOUNT: $250,000                                         MALE PREFERRED NONSMOKER AGE 50
DEATH BENEFIT LEVEL (OPTION C)                                               ANNUAL PREMIUM = $6,000


FOR SEPARATE ACCOUNT ELEVEN A HYPOTHETICAL GROSS ANNUAL RATE OF RETURN OF 12.00% (NET RATE OF 10.67%)

<CAPTION>
                                     ASSUMING CURRENT CHARGES           ASSUMING GUARANTEED CHARGES
                                     ------------------------           ---------------------------

 END                     PREMIUM    CASH                                 CASH
 OF             ANNUAL    ACCUM   SURRENDER    CASH      DEATH         SURRENDER   CASH     DEATH
YEAR     AGE   PAYMENT     @ 5%     VALUE      VALUE    BENEFIT          VALUE     VALUE   BENEFIT
- ---------------------------------------------------------------------------------------------------
<S>      <C>   <C>       <C>      <C>         <C>     <C>              <C>        <C>      <C>
 1        50    6,000      6,300     2,725      4,447   250,000           1,779     3,501  250,000
 2        51    6,000     12,915     8,194      9,916   250,000           6,228     7,949  250,000
 3        51    6,000     19,861    14,162     15,884   250,000          11,049    12,770  250,000
 4        52    6,000     27,154    20,696     22,417   250,000          16,277    17,998  250,000
 5        52    6,000     34,811    27,864     29,586   250,000          21,942    23,663  250,000
 6        53    6,000     42,852    35,948     37,478   250,000          28,277    29,807  250,000
 7        53    6,000     51,295    45,028     46,176   250,000          35,329    36,476  250,000
 8        54    6,000     60,159    55,014     55,779   250,000          42,968    43,733  250,000
 9        54    6,000     69,467    66,000     66,382   250,000          51,261    51,644  250,000
 10       55    6,000     79,241    78,097     78,097   250,000          60,278    60,278  250,000
 11       55    6,000     89,503    91,867     91,867   250,000          70,559    70,559  250,000
 12       56    6,000    100,278   107,115    107,115   250,000          81,856    81,856  250,000
 13       56    6,000    111,592   124,038    124,038   250,000          94,296    94,296  250,000
 14       57    6,000    123,471   142,841    142,841   258,628         108,027   108,027  250,000
 15       57    6,000    135,945   163,606    163,606   288,683         123,232   123,232  250,000
 16       58    6,000    149,042   186,254    186,254   320,469         140,138   140,138  250,000
 17       58    6,000    162,794   211,126    211,126   354,480         158,878   158,878  266,757
 18       59    6,000    177,234   238,427    238,427   390,877         179,210   179,210  293,797
 19       59    6,000    192,396   268,383    268,383   429,869         201,238   201,238  322,323
 20       60    6,000    208,316   301,239    301,239   471,679         225,087   225,087  352,441
 21       60    6,000    225,031   337,568    337,568   516,985         251,102   251,102  384,562
 22       61    6,000    242,583   377,425    377,425   565,760         279,136   279,136  418,424
 23       61    6,000    261,012   421,143    421,143   618,448         309,456   309,456  454,436
 24       62    6,000    280,363   469,085    469,085   675,200         342,098   342,098  492,416
 25       62    6,000    300,681   521,637    521,637   736,603         377,177   377,177  532,611
 26       63    6,000    322,015   579,219    579,219   803,145         414,844   414,844  575,223
 27       63    6,000    344,415   642,285    642,285   875,242         455,272   455,272  620,399
 28       64    6,000    367,936   711,318    711,318   953,380         498,657   498,657  668,350
 29       64    6,000    392,633   786,850    786,850 1,038,091         545,229   545,229  719,321
 30       65    6,000    418,565   869,465    869,465 1,129,783         595,221   595,221  773,430

</TABLE>


CURRENT VALUES REFLECT INVESTMENT RESULTS USING CURRENT COST OF
INSURANCE RATES FOR THE EXACT COMBINATION OF PREMIUMS AND BENEFITS
SHOWN.

GUARANTEED VALUES REFLECT INVESTMENT RESULTS USING GUARANTEED COST OF
INSURANCE RATES.

THE HYPOTHETICAL INVESTMENT RATE OF RETURN SHOWN ABOVE IS ILLUSTRATIVE
ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE
RESULTS.  ACTUAL INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN
AND WILL DEPEND UPON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT
ALLOCATION MADE BY THE POLICY OWNER AND THE INVESTMENT RESULTS OF THE
FUNDS SELECTED.  THE CASH VALUE, CASH SURRENDER VALUE  AND DEATH BENEFIT
FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL RATES OF
RETURN AVERAGED THE RATE SHOWN ABOVE OVER A PERIOD OF YEARS, BUT ALSO
FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL POLICY YEARS.  NO
REPRESENTATION CAN BE MADE BY THE COMPANY, WALNUT STREET SECURITIES, THE
FUNDS, OR ANY REPRESENTATIVE THEREOF, THAT THIS HYPOTHETICAL RATE OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR, OR SUSTAINED OVER ANY PERIOD OF
TIME.

ILLUSTRATED VALUES SHOWN ABOVE ARE AS OF THE END OF THE POLICY YEARS
INDICATED AND ASSUME ANY ADDITIONAL PREMIUMS SHOWN ARE RECEIVED ON THE
POLICY ANNIVERSARIES.  ILLUSTRATED VALUES ASSUME ALL PREMIUM TAXES ARE
PAID BY THE COMPANY.

                                       62
<PAGE>
<PAGE>

                    INDEPENDENT AUDITORS' REPORT


The Board of Directors
General American Life Insurance Company
and Policyholders of General American
Separate Account Eleven:

We have audited the statements of assets and liabilities, including the
schedule of investments, of the S & P 500 Index, Money Market, Bond
Index, Managed Equity, Asset Allocation, International Index, Mid-Cap
Equity, Small-Cap Equity, Equity Income, Growth, Overseas, Asset
Manager, High Income, Worldwide Hard Assets, Worldwide Emerging Markets,
Multi-style Equity, Core Bond, Aggressive Equity, Non-US, Income &
Growth, International, Value, Bond Portfolio, and Small Company
Portfolio  Fund Divisions of General American Separate Account Eleven as
of December 31, 1998, and the related statements of operations and
changes in net assets for each of  the years in the three-year period
then ended.  These financial statements are the responsibility of the
management of General American Separate Account Eleven.  Our
responsibility is to express an opinion on these financial statements
based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement.  An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements.  Investments owned as of December 31, 1998 were
verified by audit of the statements of assets and liabilities of the
underlying portfolios of General American Capital Company and
confirmation by correspondence with respect to the Variable Insurance
Products Fund and the Variable Insurance Products Fund II sponsored by
Fidelity Investments, the Van Eck World Wide Insurance Trust sponsored
by Van Eck Associates Corporation, the Russell Insurance Funds sponsored
by Frank Russell Investment Company, the American Century Variable
Portfolios, Inc. sponsored by American Century Investments, and the J.P.
Morgan Series Trust II sponsored by J.P. Morgan Investment Management,
Inc..  An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the
overall financial statement presentation.  We believe that our audits
provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of the S & P
500 Index, Money Market, Bond Index, Managed Equity, Asset Allocation,
International Index, Mid-Cap Equity, Small-Cap Equity, Equity Income,
Growth, Overseas, Asset Manager, High Income, Worldwide Hard Assets,
Worldwide Emerging Markets, Multi-Style Equity, Core Bond, Aggressive
Equity, Non-US, Income & Growth, International, Value, Bond Portfolio,
and Small Company Portfolio Fund Divisions of General American Separate
Account Eleven as of December 31, 1998, the results of their operations
and changes in their net assets for each of the years in the three-year
period then ended, in conformity with generally accepted accounting
principles.

                                                               KPMG LLP


St. Louis, Missouri
February 12, 1999
<PAGE>
<PAGE>

INDEPENDENT AUDITORS

     KPMG LLP

If distributed to prospective investors, this report must be preceded or
accompanied by a current prospectus.

The prospectus is incomplete without reference to the financial data
contained in the annual report.


<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF ASSETS AND LIABILITIES
                                                        DECEMBER 31, 1998
<CAPTION>
                                                S & P 500           MONEY             BOND             MANAGED           ASSET
                                                  INDEX             MARKET            INDEX            EQUITY          ALLOCATION
                                              FUND DIVISION     FUND DIVISION     FUND DIVISION     FUND DIVISION     FUND DIVISION
                                              -------------     -------------     -------------     -------------     -------------
<S>                                            <C>                <C>               <C>               <C>             <C>
Assets:
  Investments in General American
    Capital Company at market value
    (see Schedule of Investments):             $42,444,451        $6,628,249        $5,112,190        $5,524,930       $13,268,875
  Receivable from General American Life
    Insurance Company                                    0           107,338                 0             1,480           164,097
                                               -----------        ----------        ----------        ----------       -----------

      Total assets                              42,444,451         6,735,587         5,112,190         5,526,410        13,432,972
                                               -----------        ----------        ----------        ----------       -----------

Liabilities:
  Payable to General American Life
    Insurance Company                               26,812                 0             5,069                 0                 0
                                               -----------        ----------        ----------        ----------       -----------

        Total net assets                       $42,417,639        $6,735,587        $5,107,121        $5,526,410       $13,432,972
                                               ===========        ==========        ==========        ==========       ===========

Total net assets represented by:
  Individual Variable Universal Life cash
    value invested in Separate Account         $11,146,640          $768,757        $2,510,989        $3,090,254       $10,065,676
  Individual Variable General Select Plus
    cash value invested in Separate Account     14,905,053         2,203,471           993,679           919,919         1,576,153
  Individual Variable Universal Life-100
    cash value invested in Separate Account     16,223,085         2,006,416         1,595,932         1,507,725         1,779,055
  Individual Variable Universal Life-98
    cash value invested in Separate Account        141,634         1,515,026             5,640             8,512            12,088
  Joint and Survivor Variable Universal
    Life-98 cash value invested in
    Separate Account                                 1,227           241,917               881                 0                 0
                                               -----------        ----------        ----------        ----------       -----------

        Total net assets                       $42,417,639        $6,735,587        $5,107,121        $5,526,410       $13,432,972
                                               ===========        ==========        ==========        ==========       ===========


Total units held - VUL-95                          244,956            43,796           109,948            96,034           294,610
Total units held - VGSP                            506,304           172,324            70,801            41,050            77,547
Total units held - VUL-100                         587,054           166,596           113,583            68,790            88,353
Total units held - VUL-98                           11,932           149,437               553               714             1,023
Total units held - JSVUL-98                            103            23,862                86                 0                 0


VUL-95 Net unit value                          $     45.50        $    17.55        $    22.84        $    32.18       $     34.17
VGSP Net unit value                            $     29.44        $    12.79        $    14.03        $    22.41       $     20.33
VUL-100 Net unit value                         $     27.63        $    12.04        $    14.05        $    21.92       $     20.14
VUL-98 Net unit value                          $     11.87        $    10.14        $    10.20        $    11.93       $     11.82
JSVUL-98 Net unit value                        $     11.87        $    10.14        $    10.20        $    11.93       $     11.82

Cost of investments                            $34,112,194        $6,811,827        $5,032,544        $5,088,434       $10,932,171



See accompanying notes to the financial statements.                                                                    (continued)
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF ASSETS AND LIABILITIES
                                                        DECEMBER 31, 1998
<CAPTION>
                                               INTERNATIONAL        MID-CAP          SMALL-CAP          EQUITY
                                                   INDEX            EQUITY            EQUITY            INCOME           GROWTH
                                             FUND DIVISION<F*> FUND DIVISION<F**>  FUND DIVISION    FUND DIVISION     FUND DIVISION
                                             ----------------- ------------------  -------------    -------------     -------------
<S>                                             <C>               <C>               <C>              <C>               <C>
Assets:
  Investments in General American
    Capital Company at market value
    (see Schedule of Investments):              $9,923,419        $7,378,489        $2,366,635       $         0       $         0
  Investments in Variable Insurance
    Products Fund, at market value
    (see Schedule of Investments):                       0                 0                 0        20,891,810        35,313,212
  Receivable from General American
    Life Insurance Company                               0                 0             8,077                 0                 0
                                                ----------        ----------        ----------       -----------       -----------

      Total assets                               9,923,419         7,378,489         2,374,712        20,891,810        35,313,212
                                                ----------        ----------        ----------       -----------       -----------

Liabilities:
  Payable to General American Life
    Insurance Company                                6,592               391                 0            61,718            33,792
                                                ----------        ----------        ----------       -----------       -----------

        Total net assets                        $9,916,827        $7,378,098        $2,374,712       $20,830,092       $35,279,420
                                                ==========        ==========        ==========       ===========       ===========

Total net assets represented by:
  Individual Variable Universal
    Life cash value invested in
    Separate Account                            $3,258,118        $3,551,872        $  570,495       $ 7,499,654       $12,082,005
  Individual Variable General Select Plus
    cash value invested in Separate Account      1,255,800         2,194,725           831,378         7,003,503        10,898,957
  Individual Variable Universal Life-100
    cash value invested in Separate Account      1,610,291         1,622,856           964,181         6,299,900        12,251,008
  Individual Variable Universal Life-98
    cash value invested in Separate Account          7,881             6,728             6,856            24,329            46,510
  Joint and Survivor Variable Universal
    Life-98 cash value invested in
    Separate Account                                   925             1,917             1,802             2,706               940
  General American Life Insurance
    Company seed money                           3,783,812                 0                 0                 0                 0
                                                ----------        ----------        ----------       -----------       -----------

        Total net assets                        $9,916,827        $7,378,098        $2,374,712       $20,830,092       $35,279,420
                                                ==========        ==========        ==========       ===========       ===========



Total units held - VUL-95                          174,279           175,383            48,954           304,241           405,378
Total units held - VGSP                             77,550           108,141            71,164           283,014           386,583
Total units held - VUL-100                         117,078            87,742            82,805           295,584           474,406
Total units held - VUL-98                              693               572               619             2,155             3,793
Total units held - JSVUL-98                             81               163               163               240                77
Total units held - Seed Money                      200,000                 0                 0                 0                 0


VUL-95 Net unit value                           $    18.69        $    20.25        $    11.65       $     24.65       $     29.80
VGSP Net unit value                             $    16.19        $    20.30        $    11.68       $     24.75       $     28.19
VUL-100 Net unit value                          $    13.75        $    18.50        $    11.64       $     21.31       $     25.82
VUL-98 Net unit value                           $    11.37        $    11.75        $    11.07       $     11.29       $     12.26
JSVUL-98 Net unit value                         $    11.37        $    11.75        $    11.07       $     11.29       $     12.26

Cost of investments                             $8,625,859        $6,989,184        $2,780,956       $17,860,051       $25,127,661

<FN>
<F*> This fund was formerly known as the International Equity Fund.
<F**> This fund was formerly known as the Special Equity Fund.                                                         (continued)
See accompanying notes to the financial statements.
</TABLE>



<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF ASSETS AND LIABILITIES
                                                        DECEMBER 31, 1998
<CAPTION>

                                                                                                 WORLDWIDE           WORLDWIDE
                                                   OVERSEAS     ASSET MANAGER   HIGH INCOME     HARD ASSETS      EMERGING MARKETS
                                                 FUND DIVISION  FUND DIVISION  FUND DIVISION  FUND DIVISION<F*>  FUND DIVISION<F**>
                                                 -------------  -------------  -------------  -----------------  ------------------
<S>                                                <C>           <C>            <C>              <C>                  <C>
Assets:
  Investments in Variable Insurance
    Products Fund, at market value
    (see Schedule of Investments):                 $9,971,775    $        0     $2,987,766       $      0             $    0
  Investments in Variable Insurance
    Products Fund II, at market value
    (see Schedule of Investments):                          0     1,235,314              0              0                  0
  Investments in Van Eck Worldwide
    Insurance Trust at market value
    (see Schedule of Investments):                          0             0              0        220,714              1,895
  Receivable from General American
    Life Insurance Company                                683         1,197              0            374                  0
                                                   ----------    ----------     ----------       --------             ------

      Total assets                                  9,972,458     1,236,511      2,987,766        221,088              1,895
                                                   ----------    ----------     ----------       --------             ------

Liabilities:
  Payable to General American Life
    Insurance Company                                       0             0            720              0                 54
                                                   ----------    ----------     ----------       --------             ------

        Total net assets                           $9,972,458    $1,236,511     $2,987,046       $221,088             $1,841
                                                   ==========    ==========     ==========       ========             ======

Total net assets represented by:
  Individual Variable Universal Life
    cash value invested in Separate Account        $4,790,729    $  150,527     $  308,462       $ 79,894             $    0
  Individual Variable General Select Plus
    cash value invested in Separate Account         3,124,788       240,997      1,186,474         19,275                  0
  Individual Variable Universal Life-100
    cash value invested in Separate Account         2,048,669       837,876      1,478,419        121,804                  0
  Individual Variable Universal Life-98
    cash value invested in Separate Account             6,463         7,111         11,903            115              1,841
  Joint and Survivor Variable Universal
    Life-98 cash value invested in
    Separate Account                                    1,809             0          1,788              0                  0
                                                   ----------    ----------     ----------       --------             ------

        Total net assets                           $9,972,458    $1,236,511     $2,987,046       $221,088             $1,841
                                                   ==========    ==========     ==========       ========             ======


Total units held - VUL-95                             247,641         9,111         22,837         10,282                  0
Total units held - VGSP                               180,202        14,512         87,370          2,468                  0
Total units held - VUL-100                            135,925        50,801        109,650         15,703                  0
Total units held - VUL-98                                 583           635          1,134             11                150
Total units held - JSVUL-98                               163             0            170              0                  0


VUL-95 Net unit value                              $    19.35    $    16.52     $    13.51       $   7.77
VGSP Net unit value                                $    17.34    $    16.61     $    13.58       $   7.81
VUL-100 Net unit value                             $    15.07    $    16.49     $    13.48       $   7.76
VUL-98 Net unit value                              $    11.08    $    11.20     $    10.49       $  10.24             $12.25
JSVUL-98 Net unit value                            $    11.08    $    11.20     $    10.49       $  10.24             $12.25

Cost of investments                                $9,073,738    $1,141,806     $3,186,624       $336,322             $1,752

<FN>
<F*>This fund was formerly known as the Gold & Natural Resources Fund.                                           (continued)
<F**>This fund began operations on September 15, 1998.
See accompanying notes to the financial statements.
</TABLE>



<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF ASSETS AND LIABILITIES
                                                        DECEMBER 31, 1998
<CAPTION>

                                                             MULTI-STYLE                         AGGRESSIVE
                                                               EQUITY           CORE BOND          EQUITY            NON-US
                                                            FUND DIVISION     FUND DIVISION     FUND DIVISION     FUND DIVISION
                                                            -------------     -------------     -------------     -------------
<S>                                                          <C>                <C>               <C>               <C>
Assets:
  Investments in Russell Insurance
    Fund at market value
    (see Schedule of Investments):                           $11,401,536        $6,436,407        $3,970,890        $3,417,076
  Receivable from General American Life
    Insurance Company                                            314,026           221,163                 0                 0
                                                             -----------        ----------        ----------        ----------

      Total assets                                            11,715,562         6,657,570         3,970,890         3,417,076
                                                             -----------        ----------        ----------        ----------

Liabilities:
  Payable to General American Life
    Insurance Company                                                  0                 0            13,694             5,195
                                                             -----------        ----------        ----------        ----------

        Total net assets                                     $11,715,562        $6,657,570        $3,957,196        $3,411,881
                                                             ===========        ==========        ==========        ==========

Total net assets represented by:
  Individual Variable Universal Life cash
    value invested in Separate Account                       $   162,942        $   42,608        $  126,079        $   97,817
  Individual Variable General Select Plus
    cash value invested in Separate Account                    7,755,207         4,669,373         2,326,057         2,166,347
  Individual Variable Universal Life-100
    cash value invested in Separate Account                       79,784             7,159            24,213            14,426
  Russell Variable Universal Life
    cash value invested in Separate Account                    3,666,133         1,928,865         1,438,824         1,121,618
  Individual Variable Universal Life-98
    cash value invested in Separate Account                       46,781             7,902            42,023             9,861
  Joint and Survivor Variable Universal Life-98
    cash value invested in Separate Account                        4,715             1,663                 0             1,812

                                                             -----------        ----------        ----------        ----------

        Total net assets                                     $11,715,562        $6,657,570        $3,957,196        $3,411,881
                                                             ===========        ==========        ==========        ==========


Total units held - VUL-95                                         14,858             4,070            13,892             9,820
Total units held - VGSP                                          473,240           397,602           173,589           187,730
Total units held - VUL-100                                         7,277               684             2,669             1,449
Total units held - Russell VUL                                   223,791           165,315           106,502            99,991
Total units held - VUL-98                                          3,951               779             3,690               869
Total units held - JSVUL-98                                          398               164                 0               160


VUL-95 Net unit value                                         $    10.97        $    10.47        $     9.08        $     9.96
VGSP Net unit value                                           $    16.39        $    11.74        $    13.40        $    11.54
VUL-100 Net unit value                                        $    10.96        $    10.47        $     9.07        $     9.96
Russell VUL Net unit value                                    $    16.38        $    11.67        $    13.51             11.22
VUL-98 Net unit value                                         $    11.84        $    10.14        $    11.40        $    11.34
JSVUL-98 Net unit value                                       $    11.84        $    10.14        $    11.40        $    11.34

Cost of investments                                           $9,896,970        $6,336,863        $3,993,305        $3,256,410


See accompanying notes to the financial statements.                                                                (continued)
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF ASSETS AND LIABILITIES
                                                        DECEMBER 31, 1998
<CAPTION>

                                              INCOME &                                                 BOND        SMALL COMPANY
                                               GROWTH         INTERNATIONAL        VALUE            PORTFOLIO        PORTFOLIO
                                          FUND DIVISION<F*> FUND DIVISION<F*> FUND DIVISION<F*> FUND DIVISION<F*> FUND DIVISION<F*>
                                          ----------------- ----------------- ----------------- ----------------- -----------------
<S>                                            <C>               <C>               <C>               <C>               <C>
Assets:
  Investments in American Century
    Variable Portfolios, at market value
    (see Schedule of Investments):             $7,422            $  903            $3,280            $    0            $    0
  Investments in J.P. Morgan Series
    Trust II, at market value                       0                 0                 0             3,302             3,242
    (see Schedule of Investments):
  Receivable from General American
    Life Insurance Company                          0                 0               590                 0                 0
                                               ------            ------            ------            ------            ------

      Total assets                              7,422               903             3,870             3,302             3,242
                                               ------            ------            ------            ------            ------

Liabilities:
  Payable to General American Life
    Insurance Company                              62                 0                 0                 1                53
                                               ------            ------            ------            ------            ------

        Total net assets                       $7,360            $  903            $3,870            $3,301            $3,189
                                               ======            ======            ======            ======            ======

Total net assets represented by:
  Individual Variable Universal Life-98
    cash value invested in Separate
    Account                                    $7,360            $  903            $3,870            $3,301            $3,189
                                               ------            ------            ------            ------            ------

        Total net assets                       $7,360            $  903            $3,870            $3,301            $3,189
                                               ======            ======            ======            ======            ======


Total units held - VUL-98                         615                85               357               328               273


VUL-98 Net unit value                          $11.96            $10.63            $10.85            $10.07            $11.66


Cost of investments                            $6,951            $  858            $3,195            $3,299            $3,055



<FN>
<F*> These funds began operations on September 15, 1998.

See accompanying notes to the financial statements.
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                       S & P 500 INDEX                                MONEY MARKET
                                                        FUND DIVISION                                FUND DIVISION
                                       -------------------------------------------      ---------------------------------------
                                          1998              1997           1996           1998           1997           1996
                                       ----------        ----------     ----------      ---------      ---------      ---------
<S>                                    <C>               <C>            <C>             <C>            <C>            <C>
Investment income<F*>                  $       --        $       --     $       --      $      --      $      --      $      --

Expenses:
  Mortality and expense charges -
    VUL-95                                (81,198)          (59,320)       (38,288)        (6,050)        (7,951)        (8,690)
  Mortality and expense charges -
    VGSP                                  (75,004)          (29,674)       (16,887)       (23,497)       (12,872)       (21,323)
  Mortality and expense charges -
    VUL-100                               (89,773)          (36,234)        (9,712)       (15,324)       (13,566)       (10,113)
  Mortality and expense charges -
    Russell VUL                                 0                 0              0           (183)        (1,626)             0
  Mortality and expense charges -
    VUL-98                                    (50)                0              0           (465)             0              0
  Mortality and expense charges -
    JSVUL-98                                    0                 0              0            (85)             0              0
                                       ----------        ----------     ----------      ---------      ---------      ---------
      Total expenses                     (246,025)         (125,228)       (64,887)       (45,604)       (36,015)       (40,126)
                                       ----------        ----------     ----------      ---------      ---------      ---------

Net investment expense                   (246,025)         (125,228)       (64,887)       (45,604)       (36,015)       (40,126)
                                       ----------        ----------     ----------      ---------      ---------      ---------

Net realized gain on investments:
  Realized gain from distributions      2,339,803           913,559        435,253        263,305        121,801        363,544
  Realized gain (loss) on sales           802,928         1,570,537        244,401        172,314       (48,325)         14,173
                                       ----------        ----------     ----------      ---------      ---------      ---------

     Net realized gain on
       investments:                     3,142,731         2,484,096        679,654        435,619         73,476        377,717
                                       ----------        ----------     ----------      ---------      ---------      ---------

Net unrealized gain (loss) on
  investments:
  Unrealized gain (loss) on
    investments, beginning of period    3,509,114         1,982,215        851,246       (72,985)      (256,852)       (158,740)
  Unrealized gain (loss) on
    investments, end of period          8,332,257         3,509,114      1,982,215      (183,578)       (72,985)       (256,852)
                                       ----------        ----------     ----------      ---------      ---------      ---------

      Net unrealized gain (loss)
        on investments                  4,823,143         1,526,899      1,130,969      (110,593)        183,867        (98,112)
                                       ----------        ----------     ----------      ---------      ---------      ---------

        Net gain on investments         7,965,874         4,010,995      1,810,623        325,026        257,343        279,605
                                       ----------        ----------     ----------      ---------      ---------      ---------

Net increase in net assets
  resulting from operations            $7,719,849        $3,885,767     $1,745,736      $ 279,422      $ 221,328      $ 239,479
                                       ==========        ==========     ==========      =========      =========      =========

<FN>
<F*>See Note 2C
                                                                                                                    (continued)
See accompanying notes to the financial statements.
</TABLE>


<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                               BOND INDEX                             MANAGED EQUITY
                                                              FUND DIVISION                           FUND DIVISION
                                                 ------------------------------------     ------------------------------------
                                                   1998           1997         1996         1998          1997          1996
                                                 --------      ---------    ---------     --------      --------      --------
<S>                                              <C>           <C>          <C>           <C>           <C>           <C>
Investment income<F*>                            $     --      $      --    $      --     $     --      $     --      $     --

Expenses:
  Mortality and expense charges - VUL-95          (19,385)       (14,601)     (11,376)     (23,907)      (20,327)      (16,463)
  Mortality and expense charges - VGSP             (5,292)        (3,943)     (10,234)     (10,512)       (4,370)       (1,751)
  Mortality and expense charges - VUL-100          (8,452)        (4,363)      (1,802)      (5,764)       (4,815)       (1,080)
  Mortality and expense charges - VUL-98               (1)             0            0           (4)            0             0
                                                 --------      ---------    ---------     --------      --------      --------
    Total expenses                                (33,130)       (22,907)     (23,412)     (40,187)      (29,512)      (19,294)
                                                 --------      ---------    ---------     --------      --------      --------

Net investment expense                            (33,130)       (22,907)     (23,412)     (40,187)      (29,512)      (19,294)
                                                 --------      ---------    ---------     --------      --------      --------

Net realized gain (loss) on investments:
  Realized gain from distributions                251,095        165,804      496,106      629,297       251,405       292,621
  Realized gain (loss) on sales                    20,497       (176,276)     (15,797)      71,424        95,532        11,431
                                                 --------      ---------    ---------     --------      --------      --------

     Net realized gain (loss) on investments:     271,592        (10,472)     480,309      700,721       346,937       304,052
                                                 --------      ---------    ---------     --------      --------      --------

Net unrealized gain (loss) on investments:
  Unrealized gain (loss) on investments,
    beginning of period                            15,812       (234,659)      19,005      485,000       116,769       (26,912)
  Unrealized gain (loss) on investments,
    end of period                                  79,646         15,812     (234,659)     436,496       485,000       116,769
                                                 --------      ---------    ---------     --------      --------      --------

      Net unrealized gain (loss) on investments    63,834        250,471     (253,664)     (48,504)      368,231       143,681
                                                 --------      ---------    ---------     --------      --------      --------

        Net gain on investments                   335,426        239,999      226,645      652,217       715,168       447,733
                                                 --------      ---------    ---------     --------      --------      --------

Net increase in net assets
  resulting from operations                      $302,296      $ 217,092    $ 203,233     $612,030      $685,656      $428,439
                                                 ========      =========    =========     ========      ========      ========

<FN>
*See Note 2C
                                                                                                                   (continued)
See accompanying notes to the financial statements.
</TABLE>

<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                          ASSET ALLOCATION                         INTERNATIONAL INDEX
                                                           FUND DIVISION                            FUND DIVISION<F*>
                                             --------------------------------------     ----------------------------------------
                                                1998           1997         1996           1998           1997           1996
                                             ----------     ----------   ----------     ----------      ---------       --------
<S>                                          <C>            <C>          <C>            <C>             <C>
Investment income<F**>                       $       --     $       --   $       --     $       --      $      --       $     --

Expenses:
  Mortality and expense charges - VUL-95        (75,604)       (67,466)     (52,462)       (25,562)       (23,446)       (19,773)
  Mortality and expense charges - VGSP           (9,318)        (7,499)      (5,214)        (8,370)        (5,564)        (3,014)
  Mortality and expense charges - VUL-100       (12,005)        (5,279)      (1,078)       (11,491)        (6,468)        (2,475)
  Mortality and expense charges - VUL-98             (2)             0            0             (3)             0              0
  Mortality and expense charges -
    Seed Money                                        0              0            0        (29,672)       (27,476)       (25,684)
                                             ----------     ----------   ----------     ----------      ---------       --------
    Total expenses                              (96,929)       (80,244)     (58,754)       (75,098)       (62,954)       (50,946)
                                             ----------     ----------   ----------     ----------      ---------       --------

Net investment expense                          (96,929)       (80,244)     (58,754)       (75,098)       (62,954)       (50,946)
                                             ----------     ----------   ----------     ----------      ---------       --------

Net realized gain on investments:
  Realized gain from distributions            1,145,796        311,438      554,498        120,664        220,590        164,186
  Realized gain on sales                        230,635        195,821       36,291        220,991        136,741         43,830
                                             ----------     ----------   ----------     ----------      ---------       --------

     Net realized gain on investments:        1,376,431        507,259      590,789        341,655        357,331        208,016
                                             ----------     ----------   ----------     ----------      ---------       --------

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                       1,762,536        657,734      197,823         69,016        268,331         40,286
  Unrealized gain on investments,
    end of period                             2,336,704      1,762,536      657,734      1,297,560         69,016        268,331
                                             ----------     ----------   ----------     ----------      ---------       --------

      Net unrealized gain (loss)
        on investments                          574,168      1,104,802      459,911      1,228,544      (199,315)        228,045
                                             ----------     ----------   ----------     ----------      ---------       --------
        Net gain on investments               1,950,599      1,612,061    1,050,700      1,570,199        158,016        436,061
                                             ----------     ----------   ----------     ----------      ---------       --------

Net increase in net assets
  resulting from operations                  $1,853,670     $1,531,817   $  991,946     $1,495,101       $ 95,062       $385,115
                                             ==========     ==========   ==========     ==========      =========       ========


<FN>
<F*>This fund was formerly known as the International Equity Fund.
<F**>See Note 2C                                                                                                     (continued)
See accompanying notes to the financial statements.
</TABLE>


<PAGE>
<PAGE>

<TABLE>
                                   GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                          STATEMENTS OF OPERATIONS
                                YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                          MID-CAP EQUITY                       SMALL-CAP EQUITY
                                                         FUND DIVISION<F*>                      FUND DIVISION
                                              --------------------------------------      -------------------------
                                                 1998         1997           1996            1998        1997<F***>
                                              ---------    ----------     ----------      ---------      ----------
<S>                                           <C>          <C>            <C>             <C>            <C>
Investment income<F**>                        $      --    $       --     $       --      $      --      $      --

Expenses:
  Mortality and expense charges - VUL-95        (29,781)      (26,828)       (21,527)        (4,514)          (787)
  Mortality and expense charges - VGSP          (13,465)       (7,567)        (4,349)        (4,623)          (869)
  Mortality and expense charges - VUL-100       (11,694)       (6,142)        (2,084)        (5,535)          (627)
  Mortality and expense charges - VUL-98             (2)            0              0             (2)             0
  Mortality and expense charges - JSVUL-98           (2)            0              0             (2)             0
  Mortality and expense charges -
    Seed Money                                        0             0         (5,213)             0              0
                                              ---------    ----------     ----------      ---------      ---------
    Total expenses                              (54,944)      (40,537)       (33,173)       (14,676)        (2,283)
                                              ---------    ----------     ----------      ---------      ---------

Net investment expense                          (54,944)      (40,537)       (33,173)       (14,676)        (2,283)
                                              ---------    ----------     ----------      ---------      ---------

Net realized gain on investments:
  Realized gain from distributions              208,897       262,603        805,221        112,685        149,353
  Realized gain (loss) on sales                 192,934       188,905        417,832        (67,010)         1,064
                                              ---------    ----------     ----------      ---------      ---------

     Net realized gain on investments:          401,831       451,508      1,223,053         45,675        150,417
                                              ---------    ----------     ----------      ---------      ---------

Net unrealized gain (loss) on investments:
  Unrealized gain (loss) on investments,
    beginning of period                         969,578        24,121        464,281       (133,375)             0
  Unrealized gain (loss) on investments,
    end of period                               389,305       969,578         24,121       (414,321)      (133,375)
                                              ---------    ----------     ----------      ---------      ---------

      Net unrealized gain (loss) on
        investments                            (580,273)      945,457       (440,160)      (280,946)      (133,375)
                                              ---------    ----------     ----------      ---------      ---------

        Net gain (loss) on investments         (178,442)    1,396,965        782,893       (235,271)        17,042
                                              ---------    ----------     ----------      ---------      ---------

Net increase (decrease) in net assets
  resulting from operations                   $(233,386)   $1,356,428     $  749,720      $(249,947)     $  14,759
                                              =========    ==========     ==========      =========      =========

<FN>
<F*>This  fund was formerly known as the Special Equity Fund.
<F**>See Note 2C
<F***>The Small-Cap Equity Fund began operations on May 1, 1997.
                                                                                                         (continued)
See accompanying notes to the financial statements.
</TABLE>


<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>

                                                            EQUITY INCOME                                GROWTH
                                                            FUND DIVISION                             FUND DIVISION
                                              ----------------------------------------    -------------------------------------
                                                 1998           1997           1996           1998         1997         1996
                                              ----------     ----------     ----------    -----------   ----------   ----------
<S>                                           <C>            <C>            <C>           <C>           <C>          <C>
Investment income:
  Dividend income                             $  247,254     $  186,680     $    9,260    $   116,859   $   94,061   $   21,639

Expenses:
  Mortality and expense charges - VUL-95         (59,688)       (49,108)       (38,120)       (86,045)     (65,287)     (51,026)
  Mortality and expense charges - VGSP           (42,329)       (27,082)       (13,918)       (56,854)     (37,459)     (19,582)
  Mortality and expense charges - VUL-100        (63,128)       (34,605)       (10,210)       (84,948)     (42,613)     (14,179)
  Mortality and expense charges - VUL-98              (9)             0              0            (12)           0            0
  Mortality and expense charges - JSVUL-98            (2)             0              0              0            0            0
                                              ----------     ----------     ----------    -----------   ----------   ----------
    Total expenses                              (165,156)      (110,795)       (62,248)      (227,859)    (145,359)     (84,787)
                                              ----------     ----------     ----------    -----------   ----------   ----------

Net investment income (expense)                   82,098         75,885        (52,988)      (111,000)     (51,298)     (63,148)
                                              ----------     ----------     ----------    -----------   ----------   ----------

Net realized gain on investments:
  Realized gain from distributions               879,933        938,582        265,454      3,056,780      421,033      546,396
  Realized gain on sales                       1,352,865        310,747        130,118      1,016,065      381,175      254,460
                                              ----------     ----------     ----------    -----------   ----------   ----------

     Net realized gain on investments:         2,232,798      1,249,329        395,572      4,072,845      802,208      800,856
                                              ----------     ----------     ----------    -----------   ----------   ----------

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                        3,330,524      1,528,943        868,207      4,728,383    2,039,425    1,501,642
  Unrealized gain on investments,
    end of period                              3,031,759      3,330,524      1,528,943     10,185,551    4,728,383    2,039,425
                                              ----------     ----------     ----------    -----------   ----------   ----------

      Net unrealized gain (loss) on
        investments                             (298,765)     1,801,581        660,736      5,457,168    2,688,958      537,783
                                              ----------     ----------     ----------    -----------   ----------   ----------

        Net gain on investments                1,934,033      3,050,910      1,056,308      9,530,013    3,491,166    1,338,639
                                              ----------     ----------     ----------    -----------   ----------   ----------

Net increase in net assets
  resulting from operations                   $2,016,131     $3,126,795     $1,003,320    $ 9,419,013   $3,439,868   $1,275,491
                                              ==========     ==========     ==========    ===========   ==========   ==========

See accompanying notes to the financial statements.                                                                 (continued)
</TABLE>


<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                             OVERSEAS                               ASSET MANAGER
                                                           FUND DIVISION                            FUND DIVISION
                                               -----------------------------------       -----------------------------------
                                                 1998          1997         1996           1998          1997          1996
                                               --------      --------     --------       --------      -------       -------
<S>                                            <C>           <C>          <C>            <C>           <C>           <C>
Investment income:
  Dividend income                              $163,318      $ 98,942     $ 41,332       $ 21,154      $ 9,219       $ 2,632

Expenses:
  Mortality and expense charges - VUL-95        (38,993)      (32,823)     (24,616)          (806)        (219)         (126)
  Mortality and expense charges - VGSP          (20,879)      (15,095)      (8,371)        (1,194)        (597)         (193)
  Mortality and expense charges - VUL-100       (15,142)       (9,246)      (3,542)        (5,819)      (2,776)       (1,031)
  Mortality and expense charges - VUL-98             (1)            0            0             (4)           0             0
  Mortality and expense charges - JSVUL-98           (2)            0            0              0            0             0
                                               --------      --------     --------       --------      -------       -------
    Total expenses                              (75,017)      (57,164)     (36,529)        (7,823)      (3,592)       (1,350)
                                               --------      --------     --------       --------      -------       -------

Net investment income                            88,301        41,778        4,803         13,331        5,627         1,282
                                               --------      --------     --------       --------      -------       -------

Net realized gain on investments:
  Realized gain from distributions              481,359       392,769       45,464         63,464       23,126         2,171
  Realized gain on sales                        205,251        73,551       42,658         11,108       10,620         1,016
                                               --------      --------     --------       --------      -------       -------

     Net realized gain on investments:          686,610       466,320       88,122         74,572       33,746         3,187
                                               --------      --------     --------       --------      -------       -------

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                         701,980       639,437      210,998         54,259       19,793         1,779
  Unrealized gain on investments,
    end of period                               898,037       701,980      639,437         93,508       54,259        19,793
                                               --------      --------     --------       --------      -------       -------

      Net unrealized gain on investments        196,057        62,543      428,439         39,249       34,466        18,014
                                               --------      --------     --------       --------      -------       -------

        Net gain on investments                 882,667       528,863      516,561        113,821       68,212        21,201
                                               --------      --------     --------       --------      -------       -------

Net increase in net assets
  resulting from operations                    $970,968      $570,641     $521,364       $127,152      $73,839       $22,483
                                               ========      ========     ========       ========      =======       =======






See accompanying notes to the financial statements.                                                              (continued)
</TABLE>

<PAGE>
<PAGE>

<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                         HIGH INCOME                       WORLDWIDE HARD ASSETS
                                                        FUND DIVISION                        FUND DIVISION<F*>
                                            ----------------------------------     ----------------------------------
                                               1998         1997         1996        1998          1997        1996
                                            ---------     --------     -------     ---------     --------     -------
<S>                                         <C>           <C>          <C>         <C>           <C>          <C>
Investment income:
  Dividend income                           $ 162,896     $ 91,441     $28,732     $   1,564     $  3,388     $ 1,298

Expenses:
  Mortality and expense charges - VUL-95       (2,432)      (2,255)     (1,639)         (759)        (754)       (389)
  Mortality and expense charges - VGSP         (7,426)      (4,993)     (1,456)         (180)        (186)       (214)
  Mortality and expense charges - VUL-100     (10,806)      (6,583)     (2,645)       (1,123)        (917)       (410)
  Mortality and expense charges - VUL-98           (3)           0           0             0            0           0
  Mortality and expense charges - JSVUL-98         (2)           0           0             0            0           0
                                            ---------     --------     -------     ---------     --------     -------
    Total expenses                            (20,669)     (13,831)     (5,740)       (2,062)      (1,857)     (1,013)
                                            ---------     --------     -------     ---------     --------     -------

Net investment income (expense)               142,227       77,610      22,992          (498)       1,531         285
                                            ---------     --------     -------     ---------     --------     -------

Net realized gain (loss) on investments:
  Realized gain from distributions            103,507       11,302       5,621        38,415        4,590       1,273
  Realized gain (loss) on sales                17,158       17,736        (202)      (23,214)      (1,380)      1,682
                                            ---------     --------     -------     ---------     --------     -------

     Net realized gain on investments:        120,665       29,038       5,419        15,201        3,210       2,955
                                            ---------     --------     -------     ---------     --------     -------

Net unrealized gain (loss) on investments:
  Unrealized gain (loss) on investments,
    beginning of period                       220,773       57,062       2,337       (10,760)       3,346         370
  Unrealized gain (loss) on investments,
    end of period                            (198,858)     220,773      57,062      (115,608)     (10,760)      3,346
                                            ---------     --------     -------     ---------     --------     -------

      Net unrealized gain (loss) on
        investments                          (419,631)     163,711      54,725      (104,848)     (14,106)      2,976
                                            ---------     --------     -------     ---------     --------     -------

        Net gain (loss) on investments       (298,966)     192,749      60,144       (89,647)     (10,896)      5,931
                                            ---------     --------     -------     ---------     --------     -------

Net increase (decrease) in net assets
  resulting from operations                 $(156,739)    $270,359     $83,136     $ (90,145)    $ (9,365)    $ 6,216
                                            =========     ========     =======     =========     ========     =======


<FN>
<F*>This fund was formerly known as the Gold & Natural Resources Fund.

See accompanying notes to the financial statements.                                                       (continued)
</TABLE>


<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                       PERIOD AND YEARS ENDED DECEMBER 31, 1998, AND 1997
<CAPTION>
                                                  WORLDWIDE
                                               EMERGING MARKETS              MULTI-STYLE EQUITY               CORE BOND
                                                FUND DIVISION                FUND DIVISION <F**>           FUND DIVISION<F**>
                                               ----------------          -------------------------       ----------------------
                                                  1998<F*>                  1998             1997         1998           1997
                                                  --------               ----------        -------       --------       -------
<S>                                                 <C>                  <C>               <C>           <C>            <C>
Investment income                                   $  0                 $   34,444        $   599       $157,233       $ 2,483

Expenses:
  Mortality and expense charges - VUL-95               0                       (344)             0            (84)            0
  Mortality and expense charges - VGSP                 0                    (27,236)          (996)       (17,465)         (408)
  Mortality and expense charges - VUL-100              0                       (164)             0            (20)            0
  Mortality and expense charges - Russell VUL          0                    (12,992)        (1,582)        (6,579)       (1,146)
  Mortality and expense charges - VUL-98              (2)                       (20)             0             (2)            0
  Mortality and expense charges - JSVUL-98             0                         (4)             0             (2)            0
                                                    ----                 ----------        -------       --------       -------
    Total expenses                                    (2)                   (40,760)        (2,578)       (24,152)       (1,554)
                                                    ----                 ----------        -------       --------       -------

Net investment income (expense)                       (2)                    (6,316)        (1,979)       133,081           929
                                                    ----                 ----------        -------       --------       -------

Net realized gain on investments:
  Realized gain from distributions                     0                     72,664              0          8,034             0
  Realized gain on sales                               0                     66,462          5,224         27,645           705
                                                    ----                 ----------        -------       --------       -------

     Net realized gain on investments:                 0                    139,126          5,224         35,679           705
                                                    ----                 ----------        -------       --------       -------

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                                0                      1,553              0         27,482             0
  Unrealized gain on investments,
    end of period                                    143                  1,504,566          1,553         99,544        27,482
                                                    ----                 ----------        -------       --------       -------

      Net unrealized gain on investments             143                  1,503,013          1,553         72,062        27,482
                                                    ----                 ----------        -------       --------       -------

        Net gain on investments                      143                  1,642,139          6,777        107,741        28,187
                                                    ----                 ----------        -------       --------       -------

Net increase in net assets
  resulting from operations                         $141                 $1,635,823        $ 4,798       $240,822       $29,116
                                                    ====                 ==========        =======       ========       =======


<FN>
<F*>The Worldwide Emerging Markets Fund began operations on September 15, 1998.
<F**>The Multi-Style Equity Fund and the Core Bond Fund began operations on January 2, 1997.                        (continued)

See accompanying notes to the financial statements.
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                             YEARS ENDED DECEMBER 31, 1998, AND 1997
<CAPTION>

                                                          AGGRESSIVE EQUITY                               NON-US
                                                          FUND DIVISION <F*>                         FUND DIVISION <F*>
                                                    -----------------------------               ---------------------------
                                                      1998                 1997                   1998               1997
                                                    --------              -------               --------           --------
<S>                                                 <C>                   <C>                   <C>                <C>
Investment income:
  Dividend income                                   $  3,204              $    23               $ 18,758           $      0

Expenses:
  Mortality and expense charges - VUL-95                (233)                   0                   (207)                 0
  Mortality and expense charges - VGSP                (9,648)                (505)                (9,418)              (496)
  Mortality and expense charges - VUL-100                (47)                   0                    (21)                 0
  Mortality and expense charges - Russell VUL         (5,729)                (682)                (3,734)              (649)
  Mortality and expense charges - VUL-98                 (18)                   0                     (3)                 0
  Mortality and expense charges - JSVUL-98                 0                    0                     (2)                 0
                                                    --------              -------               --------           --------
    Total expenses                                   (15,675)              (1,187)               (13,385)            (1,145)
                                                    --------              -------               --------           --------

Net investment income (expense)                      (12,471)              (1,164)                 5,373             (1,145)
                                                    --------              -------               --------           --------

Net realized gain (loss) on investments:
  Realized gain from distributions                   103,600                    0                  5,331                  0
  Realized gain (loss) on sales                      (61,039)               2,158                (18,787)                78
                                                    --------              -------               --------           --------

     Net realized gain (loss) on investments:         42,561                2,158                (13,456)                78
                                                    --------              -------               --------           --------

Net unrealized gain (loss) on investments:
  Unrealized gain (loss) on investments,
    beginning of period                               23,627                    0                (57,317)                 0
  Unrealized gain (loss) on investments,
    end of period                                    (22,415)              23,627                160,666            (57,317)
                                                    --------              -------               --------           --------

      Net unrealized gain (loss) on investments      (46,042)              23,627                217,983            (57,317)
                                                    --------              -------               --------           --------

        Net gain (loss) on investments                (3,481)              25,785                204,527            (57,239)
                                                    --------              -------               --------           --------

Net increase (decrease) in net assets
  resulting from operations                         $(15,952)             $24,621               $209,900           $(58,384)
                                                    ========              =======               ========           ========

<FN>
<F*> The Aggressive Equity Fund and the Non-US Fund began operations on January 2, 1997.

See accompanying notes to the financial statements.                                                             (continued)
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                                    STATEMENTS OF OPERATIONS
                                                 PERIOD ENDED DECEMBER 31, 1998
<CAPTION>
                                                                  INCOME & GROWTH           INTERNATIONAL              VALUE
                                                                   FUND DIVISION            FUND DIVISION          FUND DIVISION
                                                                  ---------------           -------------          -------------
                                                                      1998<F*>                 1998<F*>               1998<F*>
                                                                  ---------------           -------------          -------------
<S>                                                                    <C>                      <C>                    <C>
Investment income:
  Dividend income                                                      $ 35                     $ 0                    $ 0

Expenses:
  Mortality and expense charges - VUL -98                                (3)                      0                     (1)
                                                                       ----                     ---                    ---
    Total expenses                                                       (3)                      0                     (1)
                                                                       ----                     ---                    ---

Net investment income (expense)                                          32                       0                     (1)
                                                                       ----                     ---                    ---

Net realized gain on investments:
  Realized gain on sales                                                 12                       5                      0
                                                                       ----                     ---                    ---

     Net realized gain on investments:                                   12                       5                      0
                                                                       ----                     ---                    ---

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                                                   0                       0                      0
  Unrealized gain on investments,
    end of period                                                       471                      45                     85
                                                                       ----                     ---                    ---

      Net unrealized gain on investments                                471                      45                     85
                                                                       ----                     ---                    ---

        Net gain on investments                                         483                      50                     85
                                                                       ----                     ---                    ---

Net increase in net assets
  resulting from operations                                            $515                     $50                    $84
                                                                       ====                     ===                    ===

<FN>
<F*> The Income & Growth Fund, International Fund, and Value Fund began operations on September 15, 1998.      (continued)
</TABLE>


See accompanying notes to the financial statements.


<PAGE>
<PAGE>

<TABLE>
                               GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                      STATEMENTS OF OPERATIONS
                                   PERIOD ENDED DECEMBER 31, 1998
<CAPTION>
                                                                  BOND PORTFOLIO           SMALL COMPANY
                                                                  FUND DIVISION            FUND DIVISION
                                                                  --------------           -------------
                                                                      1998<F*>                1998<F*>
                                                                  --------------           -------------
<S>                                                                    <C>                    <C>
Investment income:
  Dividend income                                                      $ 0                    $  4

Expenses:
  Mortality and expense charges - VUL -98                               (1)                     (4)
                                                                       ---                    ----
    Total expenses                                                      (1)                     (4)
                                                                       ---                    ----

Net investment income (expense)                                         (1)                      0
                                                                       ---                    ----

Net realized gain on investments:
  Realized gain from distributions                                       0                      71
  Realized gain on sales                                                 0                       9
                                                                       ---                    ----

    Net realized gain on investments:                                    0                      80
                                                                       ---                    ----

Net unrealized gain on investments:
  Unrealized gain on investments,
    beginning of period                                                  0                       0
  Unrealized gain on investments,
    end of period                                                        3                     187
                                                                       ---                    ----

      Net unrealized gain on investments                                 3                     187
                                                                       ---                    ----

        Net gain on investments                                          3                     267
                                                                       ---                    ----

Net increase in net assets
  resulting from operations                                            $ 2                    $267
                                                                       ===                    ====

<FN>
<F*> The Bond Portfolio Fund and Small Company Portfolio Fund began operations on September 15, 1998.

See accompanying notes to the financial statements.
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                               STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                          S & P 500 INDEX                              MONEY MARKET
                                                           FUND DIVISION                               FUND DIVISION
                                              ---------------------------------------   ---------------------------------------
                                                  1998          1997          1996          1998           1997         1996
                                              -----------   -----------   -----------   -----------    ----------    ----------
<S>                                           <C>           <C>           <C>           <C>            <C>           <C>
Operations:
  Net investment expense                      $  (246,025)  $  (125,228)  $   (64,887)  $   (45,604)   $  (36,015)   $  (40,126)
  Net realized gain on investments              3,142,731     2,484,096       679,654       435,619        73,476       377,717
  Net unrealized gain (loss) on investments     4,823,143     1,526,899     1,130,969      (110,593)      183,867       (98,112)
                                              -----------   -----------   -----------   -----------    ----------    ----------

    Net increase in net assets
      resulting from operations                 7,719,849     3,885,767     1,745,736       279,422       221,328       239,479

  Net deposits into (deductions from)
      Separate Account                         14,119,467     2,209,424     8,067,322    (2,860,090)      932,501     3,557,381
                                              -----------   -----------   -----------   -----------    ----------    ----------

    Increase (decrease) in net assets          21,839,316     6,095,191     9,813,058    (2,580,668)    1,153,829     3,796,860
  Net assets, beginning of period              20,578,323    14,483,132     4,670,074     9,316,255     8,162,426     4,365,566
                                              -----------   -----------   -----------   -----------    ----------    ----------

  Net assets, end of period                   $42,417,639   $20,578,323   $14,483,132   $ 6,735,587    $9,316,255    $8,162,426
                                              ===========   ===========   ===========   ===========    ==========    ==========

See accompanying notes to the financial statements.                                                                 (continued)
</TABLE>

<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                               STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                            BOND INDEX                              MANAGED EQUITY
                                                           FUND DIVISION                            FUND DIVISION
                                              --------------------------------------    --------------------------------------
                                                  1998          1997         1996          1998          1997         1996
                                              ----------    -----------   ----------    ----------    ----------    ----------
<S>                                           <C>           <C>           <C>           <C>           <C>           <C>
Operations:
  Net investment expense                      $  (33,130)   $   (22,907)  $  (23,412)   $  (40,187)   $  (29,512)   $  (19,294)
  Net realized gain (loss) on investments        271,592        (10,472)     480,309       700,721       346,937       304,052
  Net unrealized gain (loss) on investments       63,834        250,471     (253,664)      (48,504)      368,231       143,681
                                              ----------    -----------   ----------    ----------    ----------    ----------

    Net increase in net assets
      resulting from operations                  302,296        217,092      203,233       612,030       685,656       428,439

  Net deposits into (deductions from)
      Separate Account                         1,356,281     (3,532,130)   5,128,242       679,065       779,803       436,005
                                              ----------    -----------   ----------    ----------    ----------    ----------

    Increase (decrease)  in net assets         1,658,577     (3,315,038)   5,331,475     1,291,095     1,465,459       864,444
  Net assets, beginning of period              3,448,544      6,763,582    1,432,107     4,235,315     2,769,856     1,905,412
                                              ----------    -----------   ----------    ----------    ----------    ----------

  Net assets, end of period                   $5,107,121    $ 3,448,544   $6,763,582    $5,526,410    $4,235,315    $2,769,856
                                              ==========    ===========   ==========    ==========    ==========    ==========


See accompanying notes to the financial statements.                                                                (continued)
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                               STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                          ASSET ALLOCATION                       INTERNATIONAL INDEX
                                                           FUND DIVISION                            FUND DIVISION<F*>
                                              --------------------------------------    -------------------------------------
                                                  1998          1997         1996          1998          1997         1996
                                              -----------   -----------   ----------    ----------    ----------   ----------
<S>                                           <C>           <C>           <C>           <C>           <C>          <C>
Operations:
  Net investment expense                      $   (96,929)  $   (80,244)  $  (58,754)   $  (75,098)   $  (62,954)  $  (50,946)
  Net realized gain on investments              1,376,431       507,259      590,789       341,655       357,331      208,016
  Net unrealized gain (loss) on investments       574,168     1,104,802      459,911     1,228,544      (199,315)     228,045
                                              -----------   -----------   ----------    ----------    ----------   ----------

    Net increase in net assets
      resulting from operations                 1,853,670     1,531,817      991,946     1,495,101        95,062      385,115

  Net deposits into
      Separate Account                          1,102,997       909,812    1,086,684       557,433       979,833    1,016,960
                                              -----------   -----------   ----------    ----------    ----------   ----------

    Increase in net assets                      2,956,667     2,441,629    2,078,630     2,052,534     1,074,895    1,402,075
  Net assets, beginning of period              10,476,305     8,034,676    5,956,046     7,864,293     6,789,398    5,387,323
                                              -----------   -----------   ----------    ----------    ----------   ----------

  Net assets, end of period                   $13,432,972   $10,476,305   $8,034,676    $9,916,827    $7,864,293   $6,789,398
                                              ===========   ===========   ==========    ==========    ==========   ==========



<FN>
<F*>This fund was formerly known as the International Equity Fund.

See accompanying notes to the financial statements.                                                               (continued)
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                            MID-CAP EQUITY                              SMALL-CAP EQUITY
                                                          FUND DIVISION<F*>                               FUND DIVISION
                                              ----------------------------------------              ------------------------
                                                 1998           1997           1996                    1998        1997<F**>
                                              ----------     ----------     ----------              ----------    ----------
<S>                                           <C>            <C>            <C>                     <C>           <C>
Operations:
  Net investment expense                      $  (54,944)    $  (40,537)    $  (33,173)             $  (14,676)   $   (2,283)
  Net realized gain on investments               401,831        451,508      1,223,053                  45,675       150,417
  Net unrealized gain (loss) on investments     (580,273)       945,457       (440,160)               (280,946)     (133,375)
                                              ----------     ----------     ----------              ----------    ----------

    Net increase (decrease) in net assets
      resulting from operations                 (233,386)     1,356,428        749,720                (249,947)       14,759

  Net deposits into (deductions from)
      Separate Account                         1,376,768        793,111       (860,933)              1,480,805     1,129,095
                                              ----------     ----------     ----------              ----------    ----------

    Increase (decrease) in net assets          1,143,382      2,149,539       (111,213)              1,230,858     1,143,854
  Net assets, beginning of period              6,234,716      4,085,177      4,196,390               1,143,854             0
                                              ----------     ----------     ----------              ----------    ----------

  Net assets, end of period                   $7,378,098     $6,234,716     $4,085,177              $2,374,712    $1,143,854
                                              ==========     ==========     ==========              ==========    ==========

<FN>
<F*>This fund was formerly known as the Special Equity Fund.
<F**>The Small-Cap Equity Fund began operations on May 1, 1997.

See accompanying notes to the financial statements.                                                              (continued)
</TABLE>


<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                            EQUITY INCOME                                GROWTH
                                                            FUND DIVISION                             FUND DIVISION
                                              ---------------------------------------   -------------------------------------
                                                  1998          1997          1996          1998          1997        1996
                                              -----------   -----------   -----------   -----------   -----------  ----------
<S>                                           <C>           <C>           <C>           <C>           <C>          <C>
Operations:
  Net investment income (expense)             $    82,098   $    75,885   $   (52,988)  $  (111,000)  $   (51,298) $   (63,148)
  Net realized gain on investments              2,232,798     1,249,329       395,572     4,072,845       802,208      800,856
  Net unrealized gain (loss) on investments      (298,765)    1,801,581       660,736     5,457,168     2,688,958      537,783
                                              -----------   -----------   -----------   -----------   -----------  -----------

    Net increase in net assets
      resulting from operations                 2,016,131     3,126,795     1,003,320     9,419,013     3,439,868    1,275,491

  Net deposits into
      Separate Account                          1,818,144     3,516,214     3,869,404     3,631,816     5,418,111    4,760,220
                                              -----------   -----------   -----------   -----------   -----------  -----------

    Increase in net assets                      3,834,275     6,643,009     4,872,724    13,050,829     8,857,979    6,035,711
  Net assets, beginning of period              16,995,817    10,352,808     5,480,084    22,228,591    13,370,612    7,334,901
                                              -----------   -----------   -----------   -----------   -----------  -----------

  Net assets, end of period                   $20,830,092   $16,995,817   $10,352,808   $35,279,420   $22,228,591  $13,370,612
                                              ===========   ===========   ===========   ===========   ===========  ===========


See accompanying notes to the financial statements.                                                                (continued)
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                           OVERSEAS                                    ASSET MANAGER
                                                        FUND DIVISION                                  FUND DIVISION
                                           ----------------------------------------     ---------------------------------------
                                              1998           1997           1996           1998            1997          1996
                                           ----------     ----------     ----------     ----------       --------      --------
<S>                                        <C>            <C>            <C>            <C>              <C>           <C>
Operations:
  Net investment income                    $   88,301     $   41,778     $    4,803     $   13,331       $  5,627      $  1,282
  Net realized gain on investments            686,610        466,320         88,122         74,572         33,746         3,187
  Net unrealized gain on investments          196,057         62,543        428,439         39,249         34,466        18,014
                                           ----------     ----------     ----------     ----------       --------      --------

    Net increase in net assets
      resulting from operations               970,968        570,641        521,364        127,152         73,839        22,483

  Net deposits into
      Separate Account                        830,006      2,154,913      1,491,289        531,902        227,154       202,863
                                           ----------     ----------     ----------     ----------       --------      --------

    Increase in net assets                  1,800,974      2,725,554      2,012,653        659,054        300,993       225,346
  Net assets, beginning of period           8,171,484      5,445,930      3,433,277        577,457        276,464        51,118
                                           ----------     ----------     ----------     ----------       --------      --------
Net assets, end of period                  $9,972,458     $8,171,484     $5,445,930     $1,236,511       $577,457      $276,464
                                           ==========     ==========     ==========     ==========       ========      ========



See accompanying notes to the financial statements.                                                                 (continued)
</TABLE>




<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF CHANGES IN NET ASSETS
                                          YEARS ENDED DECEMBER 31, 1998, 1997, AND 1996
<CAPTION>
                                                           HIGH INCOME                               WORLDWIDE HARD ASSETS
                                                          FUND DIVISION                                FUND DIVISION<F*>
                                             ----------------------------------------     ---------------------------------------
                                                1998           1997           1996           1998            1997          1996
                                             ----------     ----------     ----------     ---------        --------      --------
<S>                                          <C>            <C>            <C>            <C>              <C>           <C>
Operations:
  Net investment income (expense)            $  142,227     $   77,610     $   22,992     $    (498)       $  1,531      $    285
  Net realized gain on investments              120,665         29,038          5,419        15,201           3,210         2,955
  Net unrealized gain (loss) on investments    (419,631)       163,711         54,725      (104,848)        (14,106)        2,976
                                             ----------     ----------     ----------     ---------        --------      --------

    Net increase (decrease) in net assets
      resulting from operations                (156,739)       270,359         83,136       (90,145)         (9,365)        6,216

  Net deposits into
      Separate Account                          970,866        711,529        904,946        41,428          92,851       170,306
                                             ----------     ----------     ----------     ---------        --------      --------

    Increase (decrease) in net assets           814,127        981,888        988,082       (48,717)         83,486       176,522
  Net assets, beginning of period             2,172,919      1,191,031        202,949       269,805         186,319         9,797
                                             ----------     ----------     ----------     ---------        --------      --------

  Net assets, end of period                  $2,987,046     $2,172,919     $1,191,031     $ 221,088        $269,805      $186,319
                                             ==========     ==========     ==========     =========        ========      ========


<FN>
<F*>This fund was formerly known as the Gold & Natural Resources Fund.


See accompanying notes to the financial statements.                                                                   (continued)
</TABLE>

<PAGE>
<PAGE>
<TABLE>
                                            GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                              STATEMENTS OF CHANGES IN NET ASSETS
                                        PERIOD AND YEARS ENDED DECEMBER 31, 1998 AND 1997
<CAPTION>
                                         WORLDWIDE
                                      EMERGING MARKETS                  MULTI-STYLE EQUITY                     CORE BOND
                                       FUND DIVISION                    FUND DIVISION<F**>                FUND DIVISION<F**>
                                      ----------------          --------------------------------        -----------------------
                                         1998<F*>                   1998                 1997              1998         1997
                                         --------               -----------           ----------        ----------   ----------
<S>                                       <C>                   <C>                   <C>               <C>          <C>
Operations:
  Net investment income (expense)         $   (2)               $    (6,316)          $   (1,979)       $  133,081   $      929
  Net realized gain on investments             0                    139,126                5,224            35,679          705
  Net unrealized gain on investments         143                  1,503,013                1,553            72,062       27,482
                                         -------                -----------           ----------        ----------   ----------

    Net increase in net assets
      resulting from operations              141                  1,635,823                4,798           240,822       29,116

  Net deposits into
      Separate Account                     1,700                  7,540,459            2,534,482         5,262,341    1,125,291
                                         -------                -----------           ----------        ----------   ----------

    Increase in net assets                 1,841                  9,176,282            2,539,280         5,503,163    1,154,407
  Net assets, beginning of period              0                  2,539,280                    0         1,154,407            0
                                         -------                -----------           ----------        ----------   ----------

  Net assets, end of period               $1,841                $11,715,562           $2,539,280        $6,657,570   $1,154,407
                                         =======                ===========           ==========        ==========   ==========


<FN>
<F*> The Worldwide Emerging Markets Fund began operations on September 15,1998.
<F**> The Multi-Style Equity Fund, and Core Bond Fund began operations on January 2, 1997.

See accompanying notes to the financial statements.                                                                 (continued)
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                                  GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                    STATEMENTS OF CHANGES IN NET ASSETS
                                   YEARS ENDED DECEMBER 31, 1998 AND 1997
<CAPTION>

                                                      AGGRESSIVE EQUITY                       NON-US
                                                      FUND DIVISION<F*>                   FUND DIVISION<F*>
                                                ----------------------------        ---------------------------
                                                   1998              1997              1998              1997
                                                ----------        ----------        ----------         --------
                                                <C>               <C>               <C>                <C>
Operations:
  Net investment income (expense)               $  (12,471)       $   (1,164)       $    5,373         $ (1,145)
  Net realized gain (loss) on investments           42,561             2,158           (13,456)              78
  Net unrealized gain (loss) on investments        (46,042)           23,627           217,983          (57,317)
                                                ----------        ----------        ----------         --------

    Net increase (decrease) in net assets
      resulting from operations                    (15,952)           24,621           209,900          (58,384)

  Net deposits into
      Separate Account                           2,627,723         1,320,804         2,418,138          842,227
                                                ----------        ----------        ----------         --------

    Increase in net assets                       2,611,771         1,345,425         2,628,038          783,843
  Net assets, beginning of period                1,345,425                 0           783,843                0
                                                ----------        ----------        ----------         --------

  Net assets, end of period                     $3,957,196        $1,345,425        $3,411,881         $783,843
                                                ==========        ==========        ==========         ========


<FN>
<F*> The  Aggressive Equity Fund and Non-U.S. Fund began operations on January 2, 1997.


See accompanying notes to the financial statements.                                                 (continued)
</TABLE>


<PAGE>
<PAGE>

<TABLE>
                                      GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                                        STATEMENTS OF CHANGES IN NET ASSETS
                                          PERIOD ENDED DECEMBER 31, 1998
<CAPTION>
                                                                INCOME & GROWTH            INTERNATIONAL              VALUE
                                                                 FUND DIVISION             FUND DIVISION          FUND DIVISION
                                                                ---------------            -------------          -------------
                                                                    1998<F*>                  1998<F*>               1998<F*>
                                                                    --------                  --------               --------

<S>                                                                  <C>                       <C>                   <C>
Operations:
  Net investment income (expense)                                    $   32                    $  0                  $   (1)
  Net realized gain on investments                                       12                       5                       0
  Net unrealized gain on investments                                    471                      45                      85
                                                                     ------                    ----                  ------

    Net increase in net assets
      resulting from operations                                         515                      50                      84

  Net deposits into
      Separate Account                                                6,845                     853                   3,786
                                                                     ------                    ----                  ------

    Increase in net assets                                            7,360                     903                   3,870
  Net assets, beginning of period                                         0                       0                       0
                                                                     ------                    ----                  ------

  Net assets, end of period                                          $7,360                    $903                  $3,870
                                                                     ======                    ====                  ======


<FN>
<F*> The Income & Growth Fund, International Fund, and Value Fund began operations on September 15, 1998.


See accompanying notes to the financial statements.                                                             (continued)
</TABLE>



<PAGE>
<PAGE>
<TABLE>
                          GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                            STATEMENTS OF CHANGES IN NET ASSETS
                              PERIOD ENDED DECEMBER 31, 1998
<CAPTION>
                                                                 BOND PORTFOLIO          SMALL COMPANY
                                                                 FUND DIVISION           FUND DIVISION
                                                                 --------------          -------------
                                                                    1998<F*>                1998<F*>
                                                                    --------                --------
<S>                                                                  <C>                     <C>
Operations:
  Net investment income (expense)                                    $   (1)                 $    0
  Net realized gain on investments                                        0                      80
  Net unrealized gain on investments                                      3                     187
                                                                     ------                  ------
    Net increase in net assets
      resulting from operations                                           2                     267

  Net deposits into
      Separate Account                                                3,299                   2,922
                                                                     ------                  ------

    Increase in net assets                                            3,301                   3,189
  Net assets, beginning of period                                         0                       0
                                                                     ------                  ------

  Net assets, end of period                                          $3,301                  $3,189
                                                                     ======                  ======


<FN>
<F*> The Bond Portfolio Fund and Small Company Fund began operations on September 15, 1998.


See accompanying notes to the financial statements.
</TABLE>


<PAGE>
<PAGE>

              GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                   NOTES TO FINANCIAL STATEMENTS
                         DECEMBER 31, 1998

NOTE 1 - ORGANIZATION

General American Separate Account Eleven (the Separate Account)
commenced operations on September 15, 1987 and is registered under the
Investment Company Act of 1940 (1940 Act) as a unit investment trust.
The Separate Account offers six products:  Variable Universal Life
(VUL-95), Variable General Select Plus (VGSP), Variable Universal Life
(VUL-100), Russell Variable Universal Life (Russell VUL)  Variable
Universal Life (VUL-98), and Joint and Survivor Universal Life (JSVUL-
98) that receive and invest net premiums for flexible premium variable
life insurance policies that are issued by General American Life
Insurance Company (General American).  The Separate Account is divided
into twenty-four Divisions.  Each Division invests exclusively in shares
of a single Fund of either General American Capital Company, Variable
Insurance Products Fund, Variable Insurance Products Fund II, Van Eck
Worldwide Insurance Trust, Russell Insurance Funds, American Century
Variable Portfolios, Inc. or J.P. Morgan Series Trust II  which are
open-end, diversified management companies.  The Funds of the General
American Capital Company, sponsored by General American, are the S & P
500 Index (formerly Equity Index), Money Market, Bond Index, Managed
Equity, Asset Allocation, International Index (formerly International
Equity), Mid-Cap Equity (formerly Special Equity), and the Small-Cap
Equity Fund Divisions.  The Funds of the Variable Insurance Products
Fund, managed by Fidelity Management & Research Company, are the Equity
Income, Growth, Overseas, and the High Income Fund Divisions.  The Funds
of the Variable Insurance Products Fund II, managed by Fidelity
Management and Research Company is the Asset Manager Fund.  The Funds of
the Van Eck Worldwide Insurance Trust, managed by Van Eck Associates
Corporation, are the Worldwide Hard Assets Fund, formerly known as the
Gold and Natural Resources Fund and the Worldwide Emerging Markets Fund
Divisions.  The Funds of the Russell Variable Insurance Product, managed
by Frank Russell Investment Management Company are the Multi-style
Equity, Core Bond, Aggressive Equity, and Non-US Fund Divisions.  The
Funds of the American Century Variable Portfolios, Inc. managed by
American Century Investments are the Income & Growth, International, and
Value Fund Divisions.  The Funds of the J.P. Morgan Trust II, managed by
J.P. Morgan Investment Management, Inc. are the Bond Portfolio and Small
Company Portfolio Fund Divisions.  Policyholders have the option of
directing their premium payments into one or all of the Funds as well as
into the general account of General American, which is not generally
subject to regulation under the Securities Act of 1933 or the 1940 Act.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed
by the Separate Account in the preparation of its financial statements.
The policies are in conformity with generally accepted accounting
principles.

A.   Investments

     The Separate Accounts' investments in the twenty-four Funds are
     valued daily based on the net asset values of the respective Fund
     shares held as reported to General American by General American
     Capital Company, Variable Insurance Products Fund, Variable
     Insurance Products Fund II, Van Eck Worldwide Insurance Trust,
     Russell Insurance Funds, American Century Portfolios, and J.P.
     Morgan Series Trust II.  The specific identification method is
     used in determining the cost of shares sold on withdrawals by the
     Separate Account.  Share transactions are recorded on the trade
     date, which is the same as the settlement date.

B.   Federal Income Taxes

     Under current federal income tax law, capital gains from sales of
     investments of the Separate Account are not taxable.  Therefore,
     no federal income tax expense has been provided.


<PAGE>
<PAGE>
              GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                   NOTES TO FINANCIAL STATEMENTS
                         DECEMBER 31, 1998

C.   Distribution of Income and Realized Capital Gains

     General American Capital Company follows the federal income tax
     practice known as consent dividending, whereby substantially all
     of its net investment income and realized gains are deemed to be
     passed through to the Separate Account.  As a result, General
     American Capital Company does not pay any dividends or capital
     gain distributions.  During December of each year, accumulated
     investment income and capital gains of the underlying Capital
     Company Fund are allocated to the Separate Account by increasing
     the cost basis and recognizing a capital gain in the Separate
     Account.  The Variable Insurance Products Fund, Variable Insurance
     Products Fund II, Van Eck Worldwide Insurance Trust, Russell
     Insurance Funds, American Century Variable Portfolios, and J.P.
     Morgan Series Trust II intend to pay out all of their net
     investment income and net realized capital gains each year.
     Dividends from the funds are distributed at least annually on a
     per share basis and are recorded on the ex dividend date.
     Normally, net realized capital gains, if any, are distributed each
     year for each fund.  Such income and capital gain distributions
     are automatically reinvested in additional shares of the funds.

D.   Use of Estimates

     The preparation of financial statements in conformity with
     generally accepted accounting principles requires management to
     make estimates and assumptions that affect the reported amounts of
     assets and liabilities and disclosure of contingent assets and
     liabilities at the date of the financial statements and the
     reported amounts of increase and decrease in net assets from
     operations during the period.  Actual results could differ from
     those estimates.

NOTE 3 - POLICY CHARGES

Charges are deducted from premiums and paid to General American for
providing the insurance benefits set forth in the contracts and any
additional benefits added by rider, administering the policies,
reimbursement of expenses incurred in distributing the policies, and
assuming certain risks in connection with the policies.

Prior to the allocation of net premiums among General American's general
account and the Fund Divisions of the Separate Account,  premium
payments are reduced by premium expense charges, which consist of a
sales charge and a charge for premium taxes.  The premium payment, less
the premium expense charge, equals the net premium.

     Sales Charge:  A sales charge equal to 6% is deducted from each
     -------------
     VUL-95 premium paid.  A sales charge of 5% in years one through
     ten and 2.25% thereafter is deducted from each VGSP premium paid.
     A maximum sales charge of 5% in years one through ten and a
     maximum 2.25% thereafter based on initial deposit is deducted from
     each Russell VUL premium paid. A sales charge equal to 15% up to
     the target premium and 5% on the excess in the first policy year
     is deducted from each VUL-98 and JSVUL-98 premium paid.  The sales
     charge is 5% on all premiums in policy years two to twelve, and 2%
     on all premiums in policy years eleven or later. This charge is
     deducted to partially reimburse General American for expenses
     incurred in distributing the policy and any additional benefits
     provided by rider.  No sales charge is deducted from VUL-100
     premiums.

     Premium Taxes:  Various state and political subdivisions impose a
     --------------
     tax on premiums received by insurance companies.  Premium taxes
     vary from state to state.  A deduction of 2% of each VUL-95
     premium, 2.5% of each VGSP premium, 2.10% of each VUL-100 premium,
     2.5% of each Russell VUL premium, and the actual tax rate for VUL-
     98 and JSVUL-98 is made from each premium payment for these taxes.
     In addition, a 1.25% deduction is taken from VUL-100 premiums and
     a 1.3% deduction is taken from VUL-98 and JSVUL-98 to cover the
     company's Federal income tax costs attributable to the amount of
     premium received.

Charges are deducted monthly from the cash value of each policy to
compensate General American for (a) certain administrative costs; (b)
insurance underwriting and acquisition expenses in connection with
issuing a policy; (c) the cost of insurance, and (d) the cost of
optional benefits added by rider.

<PAGE>
<PAGE>
              GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                   NOTES TO FINANCIAL STATEMENTS
                         DECEMBER 31, 1998


     Administrative Charge:  General American has responsibility for
     ----------------------
     the administration of the policies and the Separate Account.  As
     reimbursement for administrative expenses related to the
     maintenance of each policy and the Separate Account, General
     American assesses a monthly administrative charge against each
     policy.  This charge is $10 per month for a standard policy and
     $12 per month for a pension policy during the first 12 policy
     months and $4 (standard) and $6 (pension) per month for all policy
     months beyond the 12th for VUL-95 contracts.  The charge is $4 per
     month for VGSP and Russell VUL contracts.  The charge is $13 per
     month during the first 12 policy months and $6 per month
     thereafter for VUL-100 contracts.  The charge is $25 per month in
     the first policy year and $6 per month in each subsequent policy
     year for VUL-98 and JSVUL-98 contracts.

     Insurance Underwriting and Acquisition Expense Charge:  An
     ------------------------------------------------------
     additional administrative charge is deducted from the policy cash
     value for VUL-95 as part of the monthly deduction during the first
     12 policy months and for the first 12 policy months following an
     increase in the face amount.  The charge is $0.08 per month
     multiplied by the face amount divided by 1,000.  For VUL-100, the
     charge during the first 12 policy months is $0.16 per month
     multiplied by the face amount divided by 1,000, and in all policy
     years thereafter, the charge is $0.01 per month multiplied by the
     face amount divided by 1,000.  For VUL-98 and JSVUL-98, there is a
     charge per $1,000 of face amount, determined by age, sex, and
     smoker class, payable for ten years following the policy issue or
     an increase in the face amount.

     Cost of Insurance:  The cost of insurance is deducted on each
     ------------------
     monthly anniversary date for the following policy month.  Because
     the cost of insurance depends upon a number of variables, the cost
     varies for each policy month.   The cost of insurance is
     determined separately for the initial face amount and for any
     subsequent increases in face amount.  General American determines
     the monthly cost of insurance charge by multiplying the applicable
     cost of insurance rate or rates by the net amount at risk for each
     policy month.

     Optional Rider Benefits Charge:  This monthly deduction includes
     -------------------------------
     charges for any additional benefits provided by rider.

     Contingent Deferred Sales Charge:  During the first ten policy
     ---------------------------------
     years for VUL-95, VGSP, and Russell VUL, and the first fifteen
     years for VUL-100, General American also assesses a charge upon
     surrender or lapse of a Policy, a requested decrease in face
     amount, or a partial withdrawal that causes the face amount to
     decrease.  The amount of the charge assessed depends on a number
     of factors, including whether the event is a full surrender or
     lapse or only a decrease in face amount, the amount of premiums
     received to date by General American, and the policy year in which
     the surrender or other event takes place.  For VUL-98 and JSVUL-
     98, the charge is bases on the annual target premium, rather than
     the premiums actually received by General American.

Mortality and Expense Charge:  In addition to the above charges, a daily
- -----------------------------
charge is made at the separate account level for the mortality and
expense risks assumed by General American.  General American deducts a
daily charge from the Separate Account at the rate of .002319% for VUL-
95, .0019111% for VGSP, .002455% for VUL-100, .001366% for Russell VUL,
and .0015027% for VUL-98 and JSVUL-98 of the net assets of each division
of the Separate Account, which equals an annual rate of .85%, .70%,
 .90%, and .50% for VUL-95, VGSP, VUL-100, and Russell VUL, respectively.
VUL-95, VGSP, VUL-100, Russell VUL, VUL-98, and JSVUL-98 mortality and
expense charges for 1998 were $485,265, $342,710,  $341,256, $29,217,
$610, and $103 respectively.  The mortality risk assumed by General
American is the risk that those insured may die sooner than anticipated
and therefore, that General American will pay an aggregate amount of
death benefits greater than anticipated.  The expense risk assumed is
that expenses incurred in issuing and administering the policy will
exceed the amounts realized from the administrative charges assessed
against the policy.

<PAGE>
<PAGE>
              GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                   NOTES TO FINANCIAL STATEMENTS
                         DECEMBER 31, 1998


NOTE 4 - INVESTMENT OBJECTIVES, MANAGER CHANGES AND NEW DIVISIONS

Effective April 30, 1998, the four divisions of the Frank Russell funds
became available for Variable Universal Life (VUL-95) and Variable
Universal Life (VUL 100).

On September 15, 1998, six new divisions and two new products - VUL-98
and JSVUL-98- were added to Separate Account Eleven.  Three of the new
divisions are the Income & Growth Fund, the International Fund, and the
Value Fund. The underlying funds in these divisions are offered by
American Century Variable Portfolios and managed by American Century
Investments.  Two of the new divisions are the Bond Portfolio Fund and
the Small Company Portfolio Fund.  The underlying funds in these
divisions are offered by J.P. Morgan Trust II and managed by J.P. Morgan
Investment Management, Inc.  The Worldwide Emerging Markets Fund
Division is offered by Van Eck World Wide Insurance Trust and managed by
Van Eck Associates Corporation. The investment objectives of each of
these new divisions are as follows:

Income & Growth Fund - To provide dividend growth, current income and
- ----------------------
capital appreciation by investing in common stocks.

International Fund - To provide capital growth by investing primarily in
- --------------------
an internationally diversified portfolio of common stocks that are
considered by management to have prospects for appreciation.

Value Fund - To provide long-term capital growth by investing in
- ------------
securities that management believes to be undervalued at the time of
purchase.

Bond Portfolio Fund - To provide a high total return consistent with
- ---------------------
moderate risk of capital and maintenance of liquidity.

Small Company Portfolio Fund - To provide a high total return from a
- ------------------------------
portfolio of equity securities of small companies.

Worldwide Emerging Markets Fund - To provide long-term capital
- ---------------------------------
appreciation by investing primarily in equity securities in emerging
markets around the world.








<PAGE>
<PAGE>
              GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                   NOTES TO FINANCIAL STATEMENTS
                         DECEMBER 31, 1998

NOTE 5 - PURCHASES AND SALES

During the year ended December 31, 1998, purchases including net
realized gain and income from distribution and proceeds from sales of
General American Capital Company shares were as follows:

<TABLE>
<CAPTION>
             S & P 500        MONEY        BOND        MANAGED      ASSET     INTERNATIONAL   MID-CAP     SMALL-CAP
               INDEX         MARKET       INDEX        EQUITY     ALLOCATION      INDEX        EQUITY       EQUITY
                FUND          FUND         FUND         FUND         FUND          FUND         FUND         FUND
            -----------   -----------   ----------   ----------   ----------  -------------  ----------   ----------
<S>         <C>           <C>           <C>          <C>          <C>           <C>          <C>          <C>
Purchases   $18,469,826   $20,036,397   $2,141,069   $1,695,877   $3,103,776    $1,578,136   $2,442,172   $2,117,064
            ===========   ===========   ==========   ==========   ==========    ==========   ==========   ==========
Sales       $ 2,233,339   $22,070,433   $  563,458   $  435,629   $1,122,310    $  971,133   $  908,673   $  546,287
            ===========   ===========   ==========   ==========   ==========    ==========   ==========   ==========
</TABLE>

During the year ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of Variable Insurance Products
Fund Shares were as follows:

<TABLE>
<CAPTION>
               EQUITY INCOME         GROWTH        OVERSEAS      HIGH INCOME
                   FUND               FUND           FUND           FUND
               -------------       ----------     ----------     -----------
<S>              <C>               <C>            <C>            <C>
Purchases        $6,725,295        $8,723,428     $2,579,014     $1,473,742
                 ==========        ==========     ==========     ==========
Sales            $3,888,692        $2,121,095     $1,183,520     $  258,517
                 ==========        ==========     ==========     ==========
</TABLE>

During the year ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of Variable Insurance Products
Fund II shares were as follows:

<TABLE>
<CAPTION>
                 ASSET MANAGER
                     FUND
                 -------------
<S>                <C>
Purchases          $783,396
                   ========
Sales              $176,264
                   ========
</TABLE>

During the year ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of Van Eck Worldwide Insurance
Trust shares were as follows:

<TABLE>
<CAPTION>
                   WORLDWIDE         WORLDWIDE
                  HARD ASSETS         EMERGING
                     FUND           MARKETS FUND
                  -----------       ------------
<S>                <C>                 <C>
Purchases          $136,801            $1,752
                   ========            ======
Sales              $ 57,789            $    0
                   ========            ======
</TABLE>

During the year ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of Russell Insurance Funds shares
were as follows:

<TABLE>
<CAPTION>
                MULTI-STYLE     CORE BOND     AGGRESSIVE      NON-US
                EQUITY FUND       FUND        EQUITY FUND      FUND
                -----------     ----------    -----------   ----------
<S>              <C>            <C>            <C>          <C>
Purchases        $7,820,204     $6,175,126     $3,470,242   $2,872,232
                 ==========     ==========     ==========   ==========
Sales            $  526,483     $  992,063     $  736,562   $  437,304
                 ==========     ==========     ==========   ==========
</TABLE>


<PAGE>
<PAGE>

During the period ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of American Century Variable
Portfolios shares were as follows:

<TABLE>
<CAPTION>
                    INCOME      INTERNATIONAL
                & GROWTH FUND        FUND       VALUE FUND
                -------------   -------------   ----------
<S>                 <C>              <C>          <C>
Purchases           $7,129           $920         $3,195
                    ======           ====         ======
Sales               $  191           $ 66         $    0
                    ======           ====         ======
</TABLE>

During the period ended December 31, 1998, purchases (including dividend
reinvestment) and proceeds from sales of J.P. Morgan Series Trust II
shares were as follows:

<TABLE>
<CAPTION>
                                     SMALL
                 BOND PORTFOLIO     COMPANY
                      FUND       PORTFOLIO FUND
                 --------------  --------------
<S>                  <C>            <C>
Purchases            $3,303         $3,357
                     ======         ======
Sales                $    3         $  309
                     ======         ======
</TABLE>




<PAGE>
<PAGE>


NOTE 6 - ACCUMULATION UNIT ACTIVITY

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996:

<TABLE>
<CAPTION>
                                                          S & P 500 INDEX                              MONEY MARKET
                                                           FUND DIVISION                               FUND DIVISION
                                               -------------------------------------     ----------------------------------------

                                                 1998           1997           1996         1998            1997          1996
                                               -------        -------        -------     ----------       --------     ----------
<S>                                            <C>            <C>            <C>         <C>              <C>          <C>
Variable Universal Life - 95:
  Deposits                                      53,610         70,404         56,960         63,693         98,719         52,946
  Withdrawals                                  (44,959)       (29,686)       (32,408)       (66,600)      (110,821)       (79,319)
  Outstanding units, beginning of year         236,305        195,587        171,035         46,703         58,805         85,178
                                               -------        -------        -------     ----------       --------     ----------

  Outstanding units, end of year               244,956        236,305        195,587         43,796         46,703         58,805
                                               =======        =======        =======     ==========       ========     ==========

Variable General Select Plus:
  Deposits                                     313,540        146,632        376,931      1,380,901        942,448      1,489,642
  Withdrawals                                  (55,730)      (305,772)       (16,019)    (1,744,430)      (900,950)    (1,173,354)
  Outstanding units, beginning of year         248,494        407,634         46,722        535,853        494,355        178,067
                                               -------        -------        -------     ----------       --------     ----------

  Outstanding units, end of year               506,304        248,494        407,634        172,324        535,853        494,355
                                               =======        =======        =======     ==========       ========     ==========


Variable Universal Life - 100:
  Deposits                                     384,015        212,106        151,173        825,392        738,912        729,350
  Withdrawals                                  (89,826)       (41,462)       (42,505)      (824,924)      (707,676)      (698,266)
  Outstanding units, beginning of year         292,865        122,221         13,553        166,128        134,892        103,808
                                               -------        -------        -------     ----------       --------     ----------

  Outstanding units, end of year               587,054        292,865        122,221        166,596        166,128        134,892
                                               =======        =======        =======     ==========       ========     ==========


Russell Variable Universal Life: <F*>
  Deposits                                                                                   36,281        435,785
  Withdrawals                                                                               (44,828)      (427,238)
  Outstanding units, beginning of period                                                      8,547              0
                                                                                         ----------       --------

  Outstanding units, end of period                                                                0          8,547
                                                                                         ==========       ========




<FN>
<F*>The Russell Variable Universal Life product was introduced in 1997, and the first
deposit was received on May 6, 1997.                                                                                   (continued)

</TABLE>


<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>
                                                          S & P 500 INDEX                MONEY MARKET
                                                           FUND DIVISION                 FUND DIVISION
                                                          ---------------                -------------

                                                                1998                         1998
                                                               ------                       -------
<S>                                                            <C>                          <C>
Variable Universal Life - 98: <F*>
  Deposits                                                     12,188                       190,317
  Withdrawals                                                    (256)                      (40,880)
  Outstanding units, beginning of year                              0                             0
                                                               ------                       -------

  Outstanding units, end of year                               11,932                       149,437
                                                               ======                       =======


Joint and Survivor Variable Universal Life - 98: <F*>
  Deposits                                                        105                        27,427
  Withdrawals                                                      (2)                       (3,565)
  Outstanding units, beginning of year                              0                             0
                                                               ------                       -------

  Outstanding units, end of year                                  103                        23,862
                                                               ======                       =======




<FN>
<F*> The Variable Universal Life 98 and Joint And Survivor Variable Universal Life
products were introduced in 1998, and the first deposits were received on September 29, 1998
and October 14, 1998, respectively.                                                                       (continued)

</TABLE>


<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996:

<TABLE>
<CAPTION>
                                                            BOND INDEX                                  MANAGED EQUITY
                                                           FUND DIVISION                                FUND DIVISION
                                               -------------------------------------        -------------------------------------

                                                 1998          1997            1996           1998           1997           1996
                                               -------       --------        -------        -------        -------        -------
<S>                                            <C>           <C>            <C>            <C>            <C>            <C>
Variable Universal Life - 95:
  Deposits                                      25,406         45,996         20,690         16,942         20,213         22,639
  Withdrawals                                  (12,912)       (19,985)       (19,502)       (13,618)       (19,170)       (23,620)
  Outstanding units, beginning of year          97,454         71,443         70,255         92,710         91,667         92,648
                                               -------       --------        -------        -------        -------        -------

  Outstanding units, end of year               109,948         97,454         71,443         96,034         92,710         91,667
                                               =======       ========        =======        =======        =======        =======


Variable General Select Plus:
  Deposits                                      29,830         26,599        422,790         12,156         22,411         20,875
  Withdrawals                                   (9,429)      (398,540)        (6,268)        (8,587)       (10,526)        (1,816)
  Outstanding units, beginning of year          50,400        422,341          5,819         37,481         25,596          6,537
                                               -------       --------        -------        -------        -------        -------

  Outstanding units, end of year                70,801         50,400        422,341         41,050         37,481         25,596
                                               =======       ========        =======        =======        =======        =======


Variable Universal Life - 100:
  Deposits                                      84,402         38,781         31,945         40,129         38,918         15,297
  Withdrawals                                  (26,455)        (8,471)        (8,214)       (15,741)        (8,793)        (2,675)
  Outstanding units, beginning of year          55,636         25,326          1,595         44,402         14,277          1,655
                                               -------       --------        -------        -------        -------        -------

  Outstanding units, end of year               113,583         55,636         25,326         68,790         44,402         14,277
                                               =======       ========        =======        =======        =======        =======





                                                                                                                      (continued)

</TABLE>


<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:


<TABLE>
<CAPTION>
                                                             BOND INDEX                   MANAGED EQUITY
                                                            FUND DIVISION                 FUND DIVISION
                                                            -------------                 --------------

                                                                 1998                          1998
                                                                 ----                          ----
<S>                                                             <C>                           <C>
Variable Universal Life - 98: <F*>
  Deposits                                                        558                           727
  Withdrawals                                                      (5)                          (13)
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                  553                           714
                                                                  ===                           ===


Joint and Survivor Variable Universal Life - 98: <F*>
  Deposits                                                         88                             0
  Withdrawals                                                      (2)                            0
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                   86                             0
                                                                  ===                           ===





<FN>

<F*> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                               (continued)

</TABLE>
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996:

<TABLE>
<CAPTION>
                                                          ASSET ALLOCATION                           INTERNATIONAL INDEX
                                                           FUND DIVISION                              FUND DIVISION<F*>
                                               -------------------------------------        -------------------------------------

                                                 1998           1997           1996           1998           1997           1996
                                               -------        -------        -------        -------        -------        -------
<S>                                            <C>            <C>            <C>            <C>            <C>            <C>
Variable Universal Life - 95:
  Deposits                                      44,015         58,255         67,461         35,296         56,157         60,637
  Withdrawals                                  (32,243)       (49,785)       (33,247)       (36,243)       (45,488)       (32,650)
  Outstanding units, beginning of year         282,838        274,368        240,154        175,226        164,557        136,570
                                               -------        -------        -------        -------        -------        -------

  Outstanding units, end of year               294,610        282,838        274,368        174,279        175,226        164,557
                                               =======        =======        =======        =======        =======        =======


Variable General Select Plus:
  Deposits                                      29,160         21,682         21,668         42,140         35,709         24,970
  Withdrawals                                  (24,120)       (10,372)       (18,560)       (34,648)       (10,776)       (12,229)
  Outstanding units, beginning of year          72,507         61,197         58,089         70,058         45,125         32,384
                                               -------        -------        -------        -------        -------        -------

  Outstanding units, end of year                77,547         72,507         61,197         77,550         70,058         45,125
                                               =======        =======        =======        =======        =======        =======


Variable Universal Life - 100:
  Deposits                                      49,412         44,721         23,767         54,490         56,601         46,973
  Withdrawals                                  (16,133)       (11,617)        (2,830)       (20,835)       (15,926)        (7,916)
  Outstanding units, beginning of year          55,074         21,970          1,033         83,423         42,748          3,691
                                               -------        -------        -------        -------        -------        -------

  Outstanding units, end of year                88,353         55,074         21,970        117,078         83,423         42,748
                                               =======        =======        =======        =======        =======        =======


General American Life Insurance Company
seed money:
  Deposits                                           0              0              0              0              0              0
  Withdrawals                                        0              0              0              0              0              0
  Outstanding units, beginning of year               0              0              0        200,000        200,000        200,000
                                               -------        -------        -------        -------        -------        -------

  Outstanding units, end of year                     0              0              0        200,000        200,000        200,000
                                               =======        =======        =======        =======        =======        =======


<FN>
<F*>This fund was formerly known as the International Equity Fund.


                                                                                                                       (continued)
</TABLE>
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:


<TABLE>
<CAPTION>
                                                          ASSET ALLOCATION              INTERNATIONAL INDEX
                                                            FUND DIVISION                FUND DIVISION<F*>
                                                          ----------------              -------------------

                                                                 1998                          1998
                                                                -----                          ----
<S>                                                            <C>                             <C>
Variable Universal Life - 98: <F**>
  Deposits                                                      1,037                           710
  Withdrawals                                                     (14)                          (17)
  Outstanding units, beginning of year                              0                             0
                                                                -----                           ---

  Outstanding units, end of year                                1,023                           693
                                                                =====                           ===


Joint and Survivor Variable Universal Life - 98: <F**>
  Deposits                                                          0                            83
  Withdrawals                                                       0                            (2)
  Outstanding units, beginning of year                              0                             0
                                                                -----                           ---

  Outstanding units, end of year                                    0                            81
                                                                =====                           ===




<FN>

<F*> This fund was formerly known as the International Equity Fund.
<F**> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                         (continued)

</TABLE>


<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996 for the Mid-Cap Equity
Fund Division and the year ended December 31, 1998 and  period ended
December 31, 1997 for the Small-Cap Equity Fund Division.

<TABLE>
<CAPTION>
                                                           MID-CAP EQUITY                                       SMALL-CAP EQUITY
                                                          FUND DIVISION<F*>                                      FUND DIVISION
                                               -------------------------------------                       -------------------------

                                                 1998           1997           1996                          1998          1997<F**>
                                               -------        -------        -------                       -------         ---------
<S>                                            <C>            <C>            <C>                           <C>             <C>
Variable Universal Life - 95:
  Deposits                                      33,622         50,013         67,217                        19,324          35,503
  Withdrawals                                  (32,360)       (61,032)       (50,100)                       (5,547)           (326)
  Outstanding units, beginning of period       174,121        185,140        168,023                        35,177               0
                                               -------        -------        -------                       -------          ------

  Outstanding units, end of period             175,383        174,121        185,140                        48,954          35,177
                                               =======        =======        =======                       =======          ======


Variable General Select Plus:
  Deposits                                      58,976         43,764         17,983                        65,121          30,298
  Withdrawals                                  (28,754)       (14,054)       (16,026)                      (23,984)           (271)
  Outstanding units, beginning of period        77,919         48,209         46,252                        30,027               0
                                               -------        -------        -------                       -------          ------

  Outstanding units, end of period             108,141         77,919         48,209                        71,164          30,027
                                               =======        =======        =======                       =======          ======


Variable Universal Life - 100:
  Deposits                                      56,900         36,664         35,395                        70,656          23,110
  Withdrawals                                  (22,387)       (15,674)        (6,929)                      (10,421)           (540)
  Outstanding units, beginning of period        53,229         32,239          3,773                        22,570               0
                                               -------        -------        -------                       -------          ------

  Outstanding units, end of period              87,742         53,229         32,239                        82,805          22,570
                                               =======        =======        =======                       =======          ======



General American Life Insurance Company
seed money:
  Deposits                                           0              0              0
  Withdrawals                                        0              0       (100,000)
  Outstanding units, beginning of year               0              0        100,000
                                               -------        -------        -------

  Outstanding units, end of year                     0              0              0
                                               =======        =======        =======

<FN>
<F*>This fund was formerly known as the Special Equity Fund.

<F**>The Small-Cap Equity Fund began operations on May 1, 1997.                                                         (continued)

</TABLE>

<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>

                                                            MID-CAP EQUITY              SMALL-CAP EQUITY
                                                           FUND DIVISION<F*>              FUND DIVISION
                                                           -----------------            ----------------
                                                                 1998                          1998
                                                                 ----                          ----
<S>                                                              <C>                           <C>
Variable Universal Life - 98: <F**>
  Deposits                                                        595                           644
  Withdrawals                                                     (23)                          (25)
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                  572                           619
                                                                  ===                           ===


Joint and Survivor Variable Universal Life - 98: <F**>
  Deposits                                                        168                           168
  Withdrawals                                                      (5)                           (5)
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                  163                           163
                                                                  ===                           ===


<FN>

<F*> This fund was formerly known as the Special Equity Fund.
<F**> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                        (continued)


</TABLE>
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996:

<TABLE>
<CAPTION>
                                                            EQUITY INCOME                                    GROWTH
                                                            FUND DIVISION                                 FUND DIVISION
                                              --------------------------------------       --------------------------------------

                                                1998            1997           1996          1998            1997          1996
                                              --------        -------        -------       --------        -------       --------
<S>                                           <C>             <C>            <C>           <C>             <C>           <C>
Variable Universal Life - 95:
  Deposits                                      59,416         73,369        100,383         69,876        110,237        141,831
  Withdrawals                                  (47,519)       (68,932)       (61,252)       (72,411)       (69,361)      (101,041)
  Outstanding units, beginning of year         292,344        287,907        248,776        407,913        367,037        326,247
                                              --------        -------        -------       --------        -------       --------

  Outstanding units, end of year               304,241        292,344        287,907        405,378        407,913        367,037
                                              ========        =======        =======       ========        =======       ========


Variable General Select Plus:
  Deposits                                      99,382        107,293         95,653         99,249        151,169        136,928
  Withdrawals                                  (42,509)       (41,943)       (24,220)       (40,684)       (56,898)       (38,737)
  Outstanding units, beginning of year         226,141        160,791         89,358        328,018        233,747        135,556
                                              --------        -------        -------       --------        -------       --------

  Outstanding units, end of year               283,014        226,141        160,791        386,583        328,018        233,747
                                              ========        =======        =======       ========        =======       ========


Variable Universal Life - 100:
  Deposits                                     179,653        161,018        167,806        226,944        227,448        213,702
  Withdrawals                                 (166,343)       (42,604)       (22,709)      (114,919)       (64,065)       (38,214)
  Outstanding units, beginning of year         282,274        163,860         18,763        362,381        198,998         23,510
                                              --------        -------        -------       --------        -------       --------

  Outstanding units, end of year               295,584        282,274        163,860        474,406        362,381        198,998
                                              ========        =======        =======       ========        =======       ========



                                                                                                                       (continued)
</TABLE>








<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:


<TABLE>
<CAPTION>

                                                           EQUITY INCOME                    GROWTH
                                                           FUND DIVISION                 FUND DIVISION
                                                           -------------                 -------------

                                                                 1998                          1998
                                                                -----                         -----
<S>                                                             <C>                          <C>
Variable Universal Life - 98: <F*>
  Deposits                                                      2,270                         3,901
  Withdrawals                                                    (115)                         (108)
  Outstanding units, beginning of year                              0                             0
                                                                -----                         -----

  Outstanding units, end of year                                2,155                         3,793
                                                                =====                         =====


Joint and Survivor Variable Universal Life - 98: <F*>
  Deposits                                                        247                            79
  Withdrawals                                                      (7)                           (2)
  Outstanding units, beginning of year                              0                             0
                                                                -----                         -----

  Outstanding units, end of year                                  240                            77
                                                                =====                         =====

<FN>

<F*> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                                  (continued)

</TABLE>
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997, and 1996:

<TABLE>
<CAPTION>
                                                             OVERSEAS                                   ASSET MANAGER
                                                           FUND DIVISION                                FUND DIVISION
                                               -------------------------------------         -------------------------------------

                                                 1998           1997           1996           1998           1997            1996
                                               -------        -------        -------         ------         ------          ------
<S>                                            <C>            <C>            <C>             <C>            <C>             <C>
Variable Universal Life-95:
  Deposits                                      46,762         73,211         86,129          7,584          1,053           1,196
  Withdrawals                                  (41,684)       (33,419)       (57,328)          (605)          (364)            (80)
  Outstanding units, beginning of year         242,563        202,771        173,970          2,132          1,443             327
                                               -------        -------        -------         ------         ------          ------

  Outstanding units, end of year               247,641        242,563        202,771          9,111          2,132           1,443
                                               =======        =======        =======         ======         ======          ======


Variable General Select Plus:
  Deposits                                      60,426         78,015         59,185          7,255          4,792           4,133
  Withdrawals                                  (48,932)       (24,003)       (18,099)          (423)        (1,323)         (1,450)
  Outstanding units, beginning of year         168,708        114,696         73,610          7,680          4,211           1,528
                                               -------        -------        -------         ------         ------          ------

  Outstanding units, end of year               180,202        168,708        114,696         14,512          7,680           4,211
                                               =======        =======        =======         ======         ======          ======


Variable Universal Life-100:
  Deposits                                      62,350         61,939         59,253         30,521         19,775          17,799
  Withdrawals                                  (27,368)       (16,003)       (12,929)        (9,795)        (6,893)         (3,550)
  Outstanding units, beginning of year         100,943         55,007          8,683         30,075         17,193           2,944
                                               -------        -------        -------         ------         ------          ------

  Outstanding units, end of year               135,925        100,943         55,007         50,801         30,075          17,193
                                               =======        =======        =======         ======         ======          ======




                                                                                                                        (continued)
/TABLE
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>
                                                               OVERSEAS                   ASSET MANAGER
                                                             FUND DIVISION                FUND DIVISION
                                                             -------------                -------------

                                                                 1998                          1998
                                                                 ----                          ----
<S>                                                              <C>                           <C>
Variable Universal Life - 98: <F*>
  Deposits                                                        601                           697
  Withdrawals                                                     (18)                          (62)
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                  583                           635
                                                                  ===                           ===


Joint and Survivor Variable Universal Life - 98: <F*>
  Deposits                                                        168                             0
  Withdrawals                                                      (5)                            0
  Outstanding units, beginning of year                              0                             0
                                                                  ---                           ---

  Outstanding units, end of year                                  163                             0
                                                                  ===                           ===



<FN>
<F*> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                           (continued)

</TABLE>
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY, (CONTINUED)

The following is a summary of the accumulation unit activity for the
years ended December 31, 1998, 1997,and 1996:

<TABLE>
<CAPTION>
                                                            HIGH INCOME                              WORLDWIDE HARD ASSETS
                                                           FUND DIVISION                               FUND DIVISION<F*>
                                               -------------------------------------         -------------------------------------

                                                 1998           1997           1996           1998           1997            1996
                                               -------        -------         ------         ------         ------          ------
<S>                                            <C>            <C>            <C>             <C>           <C>             <C>
Variable Universal Life-95:
  Deposits                                       6,498          8,197         18,576          3,234          5,256           6,777
  Withdrawals                                   (2,233)       (10,956)        (3,225)        (3,278)          (857)           (976)
  Outstanding units, beginning of period        18,572         21,331          5,980         10,326          5,927             126
                                               -------        -------         ------         ------         ------          ------

  Outstanding units, end of period              22,837         18,572         21,331         10,282         10,326           5,927
                                               =======        =======         ======         ======         ======          ======


Variable General Select Plus:
  Deposits                                      28,629         36,763         32,705            513          1,994           4,222
  Withdrawals                                   (5,891)        (8,788)        (2,369)          (937)        (3,232)            (92)
  Outstanding units, beginning of year          64,632         36,657          6,321          2,892          4,130               0
                                               -------        -------         ------         ------         ------          ------

  Outstanding units, end of year                87,370         64,632         36,657          2,468          2,892           4,130
                                               =======        =======         ======         ======         ======          ======


Variable Universal Life-100:
  Deposits                                      57,671         39,145         41,415          8,405          7,159           6,746
  Withdrawals                                  (17,259)        (9,470)        (8,355)        (3,275)        (2,531)         (1,660)
  Outstanding units, beginning of year          69,238         39,563          6,503         10,573          5,945             859
                                               -------        -------         ------         ------         ------          ------

  Outstanding units, end of year               109,650         69,238         39,563         15,703         10,573           5,945
                                               =======        =======         ======         ======         ======          ======


<FN>
<F*>This fund was formerly known as the Gold & Natural Resources Fund.                                                  (continued)

</TABLE>

<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>
                                                             HIGH INCOME               WORLDWIDE HARD ASSETS
                                                            FUND DIVISION                FUND DIVISION<F**>
                                                            -------------              ---------------------

                                                                 1998                           1998
                                                                -----                           ----
<S>                                                            <C>                             <C>
Variable Universal Life - 98: <F*>
  Deposits                                                      1,163                            11
  Withdrawals                                                     (29)                            0
  Outstanding units, beginning of year                              0                             0
                                                                -----                            --

  Outstanding units, end of year                                1,134                            11
                                                                =====                            ==


Joint and Survivor Variable Universal Life - 98: <F*>
  Deposits                                                        175                             0
  Withdrawals                                                      (5)                            0
  Outstanding units, beginning of year                              0                             0
                                                                -----                            --

  Outstanding units, end of year                                  170                             0
                                                                =====                            ==


<FN>
<F*> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.
<F**> This fund was formerly known as the Gold & Natural Resources Fund.                                (continued)

</TABLE> <PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
period ended December 31, 1998 and 1997:

<TABLE>
<CAPTION>
                                                  MULTI-STYLE EQUITY               CORE BOND
                                                  FUND DIVISION<F*>             FUND DIVISION<F*>
                                               ----------------------        ----------------------

                                                 1998           1997           1998           1997
                                               -------        -------        -------         ------
<S>                                            <C>            <C>            <C>             <C>
Variable Universal Life - 95:<F**>
  Deposits                                      15,537                         4,116
  Withdrawals                                     (679)                          (46)
  Outstanding units, beginning of period             0                             0
                                               -------                       -------

  Outstanding units, end of period              14,858                         4,070
                                               =======                       =======


Variable General Select Plus: <F***>
  Deposits                                     456,763         47,597        450,004         21,805
  Withdrawals                                  (30,453)          (667)       (73,816)          (391)
  Outstanding units, beginning of period        46,930              0         21,414              0
                                               -------        -------        -------         ------

  Outstanding units, end of period             473,240         46,930        397,602         21,414
                                               =======        =======        =======         ======


Variable Universal Life - 100:<F****>
  Deposits                                       8,637                           807
  Withdrawals                                   (1,360)                         (123)
  Outstanding units, beginning of year               0                             0
                                               -------                       -------

  Outstanding units, end of year                 7,277                           684
                                               =======                       =======


Russell Variable Universal Life: <F*****>
  Deposits                                      81,464        153,054         91,724         86,149
  Withdrawals                                   (9,164)        (1,563)       (10,534)        (2,024)
  Outstanding units, beginning of period       151,491              0         84,125              0
                                               -------        -------        -------         ------

  Outstanding units, end of period             223,791        151,491        165,315         84,125
                                               =======        =======        =======         ======



<FN>
<F*> The Multi-style Equity Fund and Core Bond Fund began operations on
January 2, 1997.
<F**> The Variable Universal Life - 95 product was introduced to the
Frank Russell funds on April 30, 1998, and the first deposit was
received on May 14, 1998.
<F***> The Variable General Select Plus product was introduced in 1997,
and the first deposit was received on June 26, 1997.
<F****> The Variable Universal Life - 100 product was introduced to the
Frank Russell funds on April 30, 1998, and the first deposit was
received on May 22, 1998.
<F*****>The Russell Variable Universal Life product was introduced in
1997, and the first deposit was received on June 6, 1997.                                    (continued)

/TABLE
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>
                                                                WORLDWIDE
                                                             EMERGING MARKETS       MULTI-STYLE EQUITY                CORE BOND
                                                              FUND DIVISION         FUND DIVISION<F**>           FUND DIVISION<F**>
                                                             ----------------       ------------------           ------------------

                                                                1998<F*>                   1998                         1998
                                                                --------                  -----                         ----
<S>                                                             <C>                      <C>                           <C>
Variable Universal Life - 98: <F***>
  Deposits                                                        159                     4,052                          788
  Withdrawals                                                      (9)                     (101)                          (9)
  Outstanding units, beginning of year                              0                         0                            0
                                                                  ---                     -----                          ---

  Outstanding units, end of year                                  150                     3,951                          779
                                                                  ===                     =====                          ===


Joint and Survivor Variable Universal Life - 98: <F***>
  Deposits                                                          0                       410                          169
  Withdrawals                                                       0                       (12)                          (5)
  Outstanding units, beginning of year                              0                         0                            0
                                                                  ---                     -----                          ---

  Outstanding units, end of year                                    0                       398                          164
                                                                  ===                     =====                          ===


<FN>
<F*> The Worldwide Emerging Markets Fund began operations on September
15, 1998.
<F**> The Multi-style Equity Fund and Core Bond Fund began operations on
January 2, 1997.
<F***> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.
                                                                                                                 (continued)
</TABLE>

<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
period ended December 31, 1998 and 1997:

<TABLE>
<CAPTION>
                                                  AGGRESSIVE EQUITY                  NON-US
                                                  FUND DIVISION<F*>             FUND DIVISION<F*>
                                               ----------------------        ----------------------

                                                 1998           1997           1998            1997
                                               -------         ------        -------         ------
<S>                                            <C>             <C>           <C>             <C>
Variable Universal Life - 95:<F**>
  Deposits                                      14,484                        10,028
  Withdrawals                                     (592)                         (208)
  Outstanding units, beginning of period             0                             0
                                               -------                       -------

  Outstanding units, end of period              13,892                         9,820
                                               =======                       =======


Variable General Select Plus: <F***>
  Deposits                                     192,091         25,379        188,887         28,863
  Withdrawals                                  (43,602)          (279)       (29,735)          (285)
  Outstanding units, beginning of period        25,100              0         28,578              0
                                               -------         ------        -------         ------

  Outstanding units, end of period             173,589         25,100        187,730         28,578
                                               =======         ======        =======         ======


Variable Universal Life - 100:<F****>
  Deposits                                       3,083                         1,576
  Withdrawals                                     (414)                         (127)
  Outstanding units, beginning of year               0                             0
                                               -------                       -------

  Outstanding units, end of year                 2,669                         1,449
                                               =======                       =======


Russell Variable Universal Life: <F*****>
  Deposits                                      34,380         75,650         56,596         50,101
  Withdrawals                                   (3,034)          (494)        (5,688)        (1,018)
  Outstanding units, beginning of period        75,156              0         49,083              0
                                               -------         ------        -------         ------

  Outstanding units, end of period             106,502         75,156         99,991         49,083
                                               =======         ======        =======         ======


<FN>
<F*> The Aggressive Equity Fund and Non-US Fund began operations on
January 2, 1997.
<F**> The Variable Universal Life - 95 product was introduced to the
Frank Russell funds on April 30, 1998, and the first deposit was
received on May 14, 1998.
<F***> The Variable General Select Plus product was introduced in 1997,
and the first deposit was received on June 26, 1997.
<F****> The Variable Universal Life - 100 product was introduced to the
Frank Russell funds on April 30, 1998, and the first deposit was
received on May 22, 1998.
<F*****>The Russell Variable Universal Life product was introduced in
1997, and the first deposit was received on June 6, 1997.                                    (continued)

</TABLE>

<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
year ended December 31, 1998:

<TABLE>
<CAPTION>
                                                          AGGRESSIVE EQUITY                  NON-US
                                                          FUND DIVISION<F*>             FUND DIVISION<F*>
                                                          -----------------             -----------------

                                                                 1998                          1998
                                                                -----                          ----
<S>                                                            <C>                            <C>
Variable Universal Life - 98: <F**>
  Deposits                                                      3,760                           885
  Withdrawals                                                     (70)                          (16)
  Outstanding units, beginning of year                              0                             0
                                                                -----                           ---

  Outstanding units, end of year                                3,690                           869
                                                                =====                           ===


Joint and Survivor Variable Universal Life - 98: <F**>
  Deposits                                                          0                           165
  Withdrawals                                                       0                            (5)
  Outstanding units, beginning of year                              0                             0
                                                                -----                           ---

  Outstanding units, end of year                                    0                           160
                                                                =====                           ===


<FN>
<F*> The Aggressive Equity Fund and Non-US Fund began operations on
January 2, 1997.
<F**> The Variable Universal Life 98 and Joint And Survivor Variable
Universal Life products were introduced in 1998, and the first deposits
were received on September 29, 1998 and October 14, 1998, respectively.                                    (continued)

/TABLE
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
period ended December 31, 1998:

<TABLE>
<CAPTION>
                                              INCOME & GROWTH               INTERNATIONAL                    VALUE
                                               FUND DIVISION                FUND DIVISION                FUND DIVISION
                                              ---------------               -------------                -------------

                                                 1998<F*>                      1998<F*>                     1998<F*>
                                                 --------                      --------                     --------
<S>                                              <C>                             <C>                          <C>
Variable Universal Life - 98: <F**>
  Deposits                                         631                            92                           360
  Withdrawals                                      (16)                           (7)                           (3)
  Outstanding units, beginning of period             0                             0                             0
                                                   ---                            --                           ---

  Outstanding units, end of period                 615                            85                           357
                                                   ===                            ==                           ===



<FN>
<F*> The Income & Growth Fund, International Fund, and Value Fund began
operations on September 15, 1998.
<F**> The Variable Universal Life 98 product was introduced in 1998, and
the first deposit was received on September 29, 1998.                                                      (continued)

/TABLE
<PAGE>
<PAGE>

NOTE 6 - ACCUMULATION UNIT ACTIVITY (CONTINUED)

The following is a summary of the accumulation unit activity for the
period ended December 31, 1998:

<TABLE>
<CAPTION>
                                                             BOND PORTFOLIO                SMALL COMPANY
                                                             FUND DIVISION                 FUND DIVISION
                                                             --------------                -------------

                                                                1998<F*>                      1998<F*>
                                                                  ---                           ---
<S>                                                              <C>                          <C>
Variable Universal Life - 98: <F**>
  Deposits                                                        330                           292
  Withdrawals                                                      (2)                          (19)
  Outstanding units, beginning of period                            0                             0
                                                                  ---                           ---

  Outstanding units, end of period                                328                           273
                                                                  ===                           ===



<FN>
<F*> The Bond Portfolio Fund and Small Company Fund began operations on
September 15, 1998.
<F**> The Variable Universal Life 98 product was introduced in 1998, and
the first deposit was received on September 29, 1998.

</TABLE>
<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT

Deposits into the Separate Account are used to purchase shares in the
Capital Company, Variable Insurance Products Funds, Variable Insurance
Products Fund II, Van Eck Worldwide Insurance Trust, Russell Insurance
Funds, American Century Variable Portfolios, or J.P. Morgan Series Trust
II. Net deposits represent the amounts available for investment in such
shares after deduction of sales charges, premium taxes, administrative
costs, insurance, underwriting and acquisition expense, cost of
insurance, and cost of optional benefits by rider.  Realized and
unrealized capital gains (losses) have been excluded from net deposits
into the Separate Account because they have been included in increase
(decrease) in net assets resulting from operations in the Statements of
Changes in Net Assets.

<TABLE>
Variable Universal Life - 95:
- -----------------------------


<CAPTION>
                                                         S & P 500 INDEX                              MONEY MARKET
                                                          FUND DIVISION                               FUND DIVISION
                                            ----------------------------------------      ----------------------------------------

                                               1998           1997           1996            1998          1997             1996
                                            ----------     ----------     ----------      ---------    -----------       ---------
<S>                                         <C>            <C>            <C>             <C>          <C>               <C>
Total gross deposits                        $1,456,349     $1,099,723     $1,063,999      $ 813,595    $ 1,794,475       $ 575,302
Transfers between fund divisions and
  General American                             150,022        931,860        139,650       (578,617)    (1,471,521)       (728,445)
Surrenders and withdrawals                    (471,926)      (144,131)       (82,719)        (1,674)       (20,934)       (107,442)
                                            ----------     ----------     ----------      ---------    -----------       ---------

Total gross deposits, transfers, and
  surrenders between fund divisions          1,134,445      1,887,452      1,120,930        233,304        302,020        (260,585)
                                            ----------     ----------     ----------      ---------    -----------       ---------

Deductions:
  Premium load charges                         115,481         84,994         84,266         63,307        371,169          46,330
  Cost of insurance and administrative
    expenses                                   702,222        481,051        430,221        217,403        135,973         105,165
                                            ----------     ----------     ----------      ---------    -----------       ---------

     Total deductions                          817,703        566,045        514,487        280,710        507,142         151,495
                                            ----------     ----------     ----------      ---------    -----------       ---------


Net deposits into (withdrawals from)
  Separate Account                          $  316,742     $1,321,407     $  606,443      $ (47,406)   $  (205,122)      $(412,080)
                                            ==========     ==========     ==========      =========    ===========       =========

<CAPTION>
                                                                                                                        (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)


Variable Universal Life - 95:
- -----------------------------



                                                            BOND INDEX                                  MANAGED EQUITY
                                                           FUND DIVISION                                FUND DIVISION
                                              --------------------------------------       ---------------------------------------

                                                1998           1997           1996           1998           1997            1996
                                              --------      ---------      ---------       --------      ---------       ---------
<S>                                           <C>           <C>            <C>             <C>           <C>             <C>
Total gross deposits                          $443,018      $ 312,433      $ 321,458       $364,076      $ 359,432       $ 395,649
Transfers between fund divisions and
  General American                              39,732        504,481         20,627          1,644         53,604        (120,443)
Surrenders and withdrawals                     (48,407)      (161,856)      (171,083)       (48,475)      (162,045)        (83,215)
                                              --------      ---------      ---------       --------      ---------       ---------

Total gross deposits, transfers, and
  surrenders between fund divisions            434,343        655,058        171,002        317,245        250,991         191,991
                                              --------      ---------      ---------       --------      ---------       ---------


Deductions:
  Premium load charges                          33,733         24,355         25,685         28,257         27,564          31,741
  Cost of insurance and administrative
    expenses                                   124,148        111,704        119,034        197,695        191,337         187,326
                                              --------      ---------      ---------       --------      ---------       ---------

     Total deductions                          157,881        136,059        144,719        225,952        218,901         219,067
                                              --------      ---------      ---------       --------      ---------       ---------


Net deposits into (withdrawals from)
  Separate Account                            $276,462      $ 518,999      $  26,283       $ 91,293      $  32,090       $ (27,076)
                                              ========      =========      =========       ========      =========       =========

<CAPTION>
                                                                                                                       (continued)


<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)


Variable Universal Life - 95:
- -----------------------------





                                                         ASSET ALLOCATION                            INTERNATIONAL INDEX
                                                          FUND DIVISION                               FUND DIVISION<F*>
                                            ----------------------------------------      ----------------------------------------

                                               1998           1997           1996            1998           1997            1996
                                            ----------     ----------     ----------      ---------      ---------       ---------
<S>                                         <C>            <C>            <C>             <C>            <C>             <C>
Total gross deposits                        $1,409,425     $1,571,785     $1,478,021      $ 577,527      $ 674,809       $ 657,882
Transfers between fund divisions and
  General American                            (240,301)      (542,327)       (26,293)      (287,016)      (244,489)        132,812
Surrenders and withdrawals                    (237,885)      (261,445)      (117,682)       (53,267)       (27,295)       (102,036)
                                            ----------     ----------     ----------      ---------      ---------       ---------

Total gross deposits, transfers, and
  surrenders between fund divisions            931,239        768,013      1,334,046        237,244        403,025         688,658
                                            ----------     ----------     ----------      ---------      ---------       ---------


Deductions:
  Premium load charges                         101,603        115,555        113,909         45,221         53,326          52,174
  Cost of insurance and administrative
    expenses                                   453,887        472,278        467,810        203,189        206,172         215,112
                                            ----------     ----------     ----------      ---------      ---------       ---------

     Total deductions                          555,490        587,833        581,719        248,410        259,498         267,286
                                            ----------     ----------     ----------      ---------      ---------       ---------


Net deposits into (withdrawals from)
  Separate Account                          $  375,749     $  180,180     $  752,327      $ (11,166)     $ 143,527       $ 421,372
                                            ==========     ==========     ==========      =========      =========       =========


<FN>
<F*>This fund was formerly known as the International Equity Fund.                                                     (continued)


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)


Variable Universal Life - 95:
- -----------------------------





                                                          MID-CAP EQUITY                                     SMALL-CAP EQUITY
                                                         FUND DIVISION<F*>                                     FUND DIVISION
                                             ---------------------------------------                      ------------------------

                                                1998           1997          1996                           1998         1997<F***>
                                             ---------      ---------    -----------                      --------        --------
<S>                                          <C>            <C>          <C>                              <C>             <C>
Total gross deposits                         $ 535,140      $ 731,205    $   927,388                      $ 92,984        $ 81,175
Transfers between fund divisions and
  General American                            (161,251)      (545,250)      (325,567)                      123,494         386,732
Surrenders and withdrawals                     (60,979)       (30,828)       (74,752)                      (13,142)              0
Seed withdrawals <F**>                               0              0     (1,494,837)                            0               0
                                             ---------      ---------    -----------                      --------        --------

Total gross deposits, transfers, and
  surrenders between fund divisions            312,910        155,127       (967,768)                      203,336         467,907
                                             ---------      ---------    -----------                      --------        --------


Deductions:
  Premium load charges                          40,775         55,258         73,857                         7,292           6,341
  Cost of insurance and administrative
    expenses                                   229,610        226,846        224,222                        23,300           4,229
                                             ---------      ---------    -----------                      --------        --------

     Total deductions                          270,385        282,104        298,079                        30,592          10,570
                                             ---------      ---------    -----------                      --------        --------


Net deposits into (withdrawals from)
  Separate Account                           $  42,525      $(126,977)   $(1,265,847)                     $172,744        $457,337
                                             =========      =========    ===========                      ========        ========

<FN>
<F*>   This fund was formerly known as the Special Equity Fund.
<F**>  Represents funds distributed to General American Life Insurance
       Company in repayment of seed money used to start the Special Equity Fund in 1993.
<F***> The Small-Cap Equity Fund began operations on May 1, 1997.                                                      (continued)

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)


Variable Universal Life - 95:
- -----------------------------





                                                           EQUITY-INCOME                                   GROWTH
                                                           FUND DIVISION                               FUND DIVISION
                                            ----------------------------------------     ----------------------------------------

                                               1998           1997           1996           1998           1997           1996
                                            ----------     ----------     ----------     ----------     ----------     ----------
<S>                                         <C>            <C>            <C>            <C>            <C>            <C>
Total gross deposits                        $1,154,929     $1,258,958     $1,399,658     $1,514,732     $1,700,056     $2,077,054
Transfers between fund divisions and
  General American                             (50,446)      (346,404)        10,733       (487,503)       124,428       (252,029)
Surrenders and withdrawals                    (247,987)      (243,196)      (186,491)      (324,276)      (260,054)      (386,745)
                                            ----------     ----------     ----------     ----------     ----------     ----------

Total gross deposits, transfers, and
  surrenders between fund divisions            856,496        669,358      1,223,900        702,953      1,564,430      1,438,280
                                            ----------     ----------     ----------     ----------     ----------     ----------


Deductions:
  Premium load charges                          91,178         98,808        111,476        118,852        134,071        165,735
  Cost of insurance and administrative
    expenses                                   484,812        470,011        473,165        664,659        606,328        610,838
                                            ----------     ----------     ----------     ----------     ----------     ----------

     Total deductions                          575,990        568,819        584,641        783,511        740,399        776,573
                                            ----------     ----------     ----------     ----------     ----------     ----------


Net deposits into (withdrawals from)
  Separate Account                          $  280,506     $  100,539     $  639,259     $  (80,558)    $  824,031     $  661,707
                                            ==========     ==========     ==========     ==========     ==========     ==========

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 95:
- -----------------------------




                                                             OVERSEAS                                  ASSET MANAGER
                                                          FUND DIVISION                                FUND DIVISION
                                             ---------------------------------------       --------------------------------------
                                                1998           1997          1996            1998            1997          1996
                                             ---------     ----------     ----------       --------        -------        -------
<S>                                          <C>           <C>            <C>              <C>             <C>            <C>
Total gross deposits                         $ 792,155     $  927,173     $1,128,054       $ 28,935        $ 9,236        $ 3,210
Transfers between fund divisions and
  General American                            (249,954)       262,454       (173,088)        85,499          3,098         10,046
Surrenders and withdrawals                     (84,661)      (121,639)      (163,405)        (1,077)             0              0
                                             ---------     ----------     ----------       --------        -------        -------

Total gross deposits, transfers, and
  surrenders between fund divisions            457,540      1,067,988        791,561        113,357         12,334         13,256
                                             ---------     ----------     ----------       --------        -------        -------


Deductions:
  Premium load charges                          60,018         71,458         89,820          2,699            706            248
  Cost of insurance and administrative
    expenses                                   304,803        302,840        289,700          8,127          1,874            896
                                             ---------     ----------     ----------       --------        -------        -------

     Total deductions                          364,821        374,298        379,520         10,826          2,580          1,144
                                             ---------     ----------     ----------       --------        -------        -------


Net deposits into Separate Account           $  92,719     $  693,690     $  412,041       $102,531        $ 9,754        $12,112
                                             =========     ==========     ==========       ========        =======        =======


<CAPTION>
                                                                                                                       (continued)


<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 95:
- -----------------------------




                                                            HIGH INCOME                              WORLDWIDE HARD ASSETS
                                                           FUND DIVISION                               FUND DIVISION<F*>
                                               -------------------------------------       --------------------------------------
                                                 1998          1997           1996           1998            1997          1996
                                               -------       --------       --------       --------        -------        -------
<S>                                            <C>           <C>            <C>            <C>             <C>            <C>
Total gross deposits                           $52,060       $ 61,425       $ 47,325       $ 21,677        $29,642        $ 7,990
Transfers between fund divisions and
  General American                              34,487        (76,243)       146,648        (21,580)        31,281         63,119
Surrenders and withdrawals                         (29)             0              0            (10)             0              0
                                               -------       --------       --------       --------        -------        -------

Total gross deposits, transfers, and
  surrenders between fund divisions             86,518        (14,818)       193,973             87         60,923         71,109
                                               -------       --------       --------       --------        -------        -------


Deductions:
  Premium load charges                           4,139          4,910          3,747          1,790          2,223            595
  Cost of insurance and administrative
    expenses                                    22,068         19,821         16,948          3,541          5,330          3,272
                                               -------       --------       --------       --------        -------        -------

     Total deductions                           26,207         24,731         20,695          5,331          7,553          3,867
                                               -------       --------       --------       --------        -------        -------


Net deposits into (withdrawals from)
Separate Account                               $60,311       $(39,549)      $173,278       $ (5,244)       $53,370        $67,242
                                               =======       ========       ========       ========        =======        =======

<FN>

<F*> This fund was formerly known as the Gold & Natural Resources Fund.

<CAPTION>
                                                                                                                      (continued)


<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 95:
- -----------------------------




                                         MULTI-STYLE EQUITY      CORE BOND     AGGRESSIVE EQUITY       NON-US
                                            FUND DIVISION      FUND DIVISION     FUND DIVISION     FUND DIVISION
                                         ------------------    -------------   -----------------   -------------
                                              1998<F*>           1998<F*>         1998<F*>            1998<F*>
                                              --------           --------         --------            --------
<S>                                           <C>                <C>              <C>                 <C>
Total gross deposits                          $ 11,160           $   558          $  3,900            $ 5,027
Transfers between fund divisions and
  General American                             129,908            42,124           111,676             81,549
Surrenders and withdrawals                      (1,571)                0              (721)                 0
                                              --------           -------          --------            -------

Total gross deposits, transfers, and
  surrenders between fund divisions            139,497            42,682           114,855             86,576
                                              --------           -------          --------            -------


Deductions:
  Premium load charges                           1,059                33               512                536
  Cost of insurance and administrative
    expenses                                     2,418               479             2,054              1,957
                                              --------           -------          --------            -------

     Total deductions                            3,477               512             2,566              2,493
                                              --------           -------          --------            -------


Net deposits into Separate Account            $136,020           $42,170          $112,289            $84,083
                                              ========           =======          ========            =======

<FN>

<F*> The Variable Universal Life - 95 product became available to these
funds on April 30, 1998.

<CAPTION>
                                                                                                   (continued)
<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)


</TABLE>
<TABLE>

Variable General Select Plus:
- -----------------------------




                                                         S & P 500 INDEX                               MONEY MARKET
                                                          FUND DIVISION                                FUND DIVISION
                                            ----------------------------------------   ------------------------------------------
                                               1998           1997           1996           1998           1997          1996
                                            ----------    -----------     ----------   ------------    -----------   ------------
<S>                                         <C>           <C>             <C>          <C>             <C>            <C>
Total gross deposits                        $1,357,475    $ 1,229,167     $  475,955   $ 16,933,833    $11,949,827   $ 18,203,638
Transfers between fund divisions and
  General American                           5,431,739      1,639,191      5,512,487    (20,254,746)    (6,333,824)   (13,115,248)
Surrenders and withdrawals                    (152,414)    (5,100,149)       (28,210)      (214,226)    (4,042,319)       (15,934)
                                            ----------    -----------     ----------   ------------    -----------   ------------

Total gross deposits, transfers, and
  surrenders between fund divisions          6,636,800     (2,231,791)     5,960,232     (3,535,139)     1,573,684      5,072,456
                                            ----------    -----------     ----------   ------------    -----------   ------------


Deductions:
  Premium load charges                          99,759         88,924         35,750      1,299,538        870,893      1,315,430
  Cost of insurance and administrative
    expenses                                   293,438        158,092         63,207        221,400        158,166        126,052
                                            ----------    -----------     ----------   ------------    -----------   ------------

     Total deductions                          393,197        247,016         98,957      1,520,938      1,029,059      1,441,482
                                            ----------    -----------     ----------   ------------    -----------   ------------


Net deposits into (withdrawals from)
  Separate Account                          $6,243,603    $(2,478,807)    $5,861,275   $ (5,056,077)   $   544,625   $  3,630,974
                                            ==========    ===========     ==========   ============    ===========   ============

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                           BOND INDEX                                  MANAGED EQUITY
                                                          FUND DIVISION                                FUND DIVISION
                                              --------------------------------------       --------------------------------------
                                                1998          1997           1996            1998           1997           1996
                                              --------    -----------     ----------       --------       --------       --------
<S>                                           <C>         <C>             <C>              <C>            <C>            <C>
Total gross deposits                          $146,938    $   170,971     $   68,383       $185,192       $225,421       $131,764
Transfers between fund divisions and
  General American                             205,041        109,381      4,780,139           (477)        49,038        170,404
Surrenders and withdrawals                     (27,635)    (4,675,478)        (5,060)       (44,810)       (28,866)             0
                                              --------    -----------     ----------       --------       --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            324,344     (4,395,126)     4,843,462        139,905        245,593        302,168
                                              --------    -----------     ----------       --------       --------       --------


Deductions:
  Premium load charges                          10,813         12,639          5,137         12,749         16,872          9,560
  Cost of insurance and administrative
    expenses                                    29,846         24,838         16,027         29,578         24,211         11,739
                                              --------    -----------     ----------       --------       --------       --------

     Total deductions                           40,659         37,477         21,164         42,327         41,083         21,299
                                              --------    -----------     ----------       --------       --------       --------


Net deposits into (withdrawals from)
  Separate Account                            $283,685    $(4,432,603)    $4,822,298       $ 97,578       $204,510       $280,869
                                              ========    ===========     ==========       ========       ========       ========

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                          ASSET ALLOCATION                          INTERNATIONAL INDEX
                                                           FUND DIVISION                             FUND DIVISION<F*>
                                             ---------------------------------------       --------------------------------------
                                                1998           1997           1996           1998           1997           1996
                                             ---------       --------       --------       --------       --------       --------
<S>                                          <C>             <C>            <C>            <C>            <C>            <C>
Total gross deposits                         $ 231,397       $225,188       $170,662       $244,143       $273,454       $181,044
Transfers between fund divisions and
  General American                             160,811         92,485        (27,308)       (26,160)       190,371         32,353
Surrenders and withdrawals                    (166,928)       (48,400)       (26,276)       (16,419)       (47,175)       (10,048)
                                             ---------       --------       --------       --------       --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            225,280        269,273        117,078        201,564        416,650        203,349
                                             ---------       --------       --------       --------       --------       --------


Deductions:
  Premium load charges                          14,905         17,168         12,611         16,859         19,728         13,690
  Cost of insurance and administrative
    expenses                                    84,944         67,268         52,342         44,378         37,091         23,940
                                             ---------       --------       --------       --------       --------       --------

     Total deductions                           99,849         84,436         64,953         61,237         56,819         37,630
                                             ---------       --------       --------       --------       --------       --------


Net deposits into Separate Account           $ 125,431       $184,837       $ 52,125       $140,327       $359,831       $165,719
                                             =========       ========       ========       ========       ========       ========

<FN>

<F*> This fund was formerly known as the International Equity Fund.

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                          MID-CAP EQUITY                                      SMALL-CAP EQUITY
                                                         FUND DIVISION<F*>                                     FUND DIVISION
                                              --------------------------------------                      -----------------------
                                                1998           1997           1996                          1998         1997<F**>
                                              --------       --------       --------                      --------       --------
<S>                                           <C>            <C>            <C>                           <C>            <C>
Total gross deposits                          $338,015       $376,253       $191,049                      $263,673       $ 59,270
Transfers between fund divisions and
  General American                             458,678        301,956        (58,467)                      330,151        326,392
Surrenders and withdrawals                     (25,379)       (53,267)       (52,717)                            0              0
                                              --------       --------       --------                      --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            771,314        624,942         79,865                       593,824        385,662
                                              --------       --------       --------                      --------       --------


Deductions:
  Premium load charges                          24,362         29,256         13,676                        19,071          4,711
  Cost of insurance and administrative
    expenses                                    67,262         40,346         26,565                        19,764          3,518
                                              --------       --------       --------                      --------       --------

     Total deductions                           91,624         69,602         40,241                        38,835          8,229
                                              --------       --------       --------                      --------       --------


Net deposits into Separate Account            $679,690       $555,340       $ 39,624                      $554,989       $377,433
                                              ========       ========       ========                      ========       ========

<FN>
<F*>This fund was formerly known as the Special Equity Fund.
<F**>The Small-Cap Equity Fund began operations on May 1, 1997.

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                          EQUITY-INCOME                                    GROWTH
                                                          FUND DIVISION                                FUND DIVISION
                                            ----------------------------------------     ----------------------------------------
                                               1998           1997           1996           1998           1997           1996
                                            ----------     ----------     ----------     ----------     ----------     ----------
<S>                                         <C>            <C>            <C>            <C>            <C>            <C>
Total gross deposits                        $1,492,223     $1,043,306     $  673,157     $1,297,862     $1,354,928     $  899,999
Transfers between fund divisions and
  General American                             748,006        658,129        638,476        891,558        957,813        888,367
Surrenders and withdrawals                    (183,143)      (148,279)       (10,403)      (255,377)      (268,257)       (48,837)
                                            ----------     ----------     ----------     ----------     ----------     ----------

Total gross deposits, transfers, and
  surrenders between fund divisions          2,057,086      1,553,156      1,301,230      1,934,043      2,044,484      1,739,529
                                            ----------     ----------     ----------     ----------     ----------     ----------


Deductions:
  Premium load charges                          82,617         78,543         53,024         84,087        101,854         69,694
  Cost of insurance and administrative
    expenses                                   216,335        163,469        112,967        250,176        206,497        136,072
                                            ----------     ----------     ----------     ----------     ----------     ----------

     Total deductions                          298,952        242,012        165,991        334,263        308,351        205,766
                                            ----------     ----------     ----------     ----------     ----------     ----------


Net deposits into Separate Account          $1,758,134     $1,311,144     $1,135,239     $1,599,780     $1,736,133     $1,533,763
                                            ==========     ==========     ==========     ==========     ==========     ==========

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                             OVERSEAS                                   ASSET MANAGER
                                                          FUND DIVISION                                 FUND DIVISION
                                             ---------------------------------------       --------------------------------------
                                                1998           1997           1996           1998            1997           1996
                                             ---------       --------       --------       --------        -------        -------
<S>                                          <C>             <C>            <C>            <C>             <C>            <C>
Total gross deposits                         $ 557,583       $763,625       $385,284       $ 27,818        $53,004        $ 8,754
Transfers between fund divisions and
  General American                            (150,747)       265,722        271,694         93,342          3,027         26,425
Surrenders and withdrawals                     (55,531)       (56,432)       (45,712)             0         (2,184)        (2,067)
                                             ---------       --------       --------       --------        -------        -------

Total gross deposits, transfers, and
  surrenders between fund divisions            351,305        972,915        611,266        121,160         53,847         33,112
                                             ---------       --------       --------       --------        -------        -------


Deductions:
  Premium load charges                          40,327         57,640         29,621          1,654          3,927            670
  Cost of insurance and administrative
    expenses                                    79,907         71,616         46,151          6,502          3,625          1,631
                                             ---------       --------       --------       --------        -------        -------

     Total deductions                          120,234        129,256         75,772          8,156          7,552          2,301
                                             ---------       --------       --------       --------        -------        -------


Net deposits into Separate Account           $ 231,071       $843,659       $535,494       $113,004        $46,295        $30,811
                                             =========       ========       ========       ========        =======        =======

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                            HIGH INCOME                             WORLDWIDE HARD ASSETS
                                                           FUND DIVISION                              FUND DIVISION<F*>
                                              --------------------------------------        -------------------------------------
                                                1998           1997           1996            1998          1997           1996
                                              --------       --------       --------        -------       --------        -------
<S>                                           <C>            <C>            <C>             <C>           <C>             <C>
Total gross deposits                          $241,925       $201,994       $ 91,307        $ 6,454       $ 22,621        $ 1,869
Transfers between fund divisions and
  General American                             156,540        207,353        278,491         (6,638)         1,823         45,785
Surrenders and withdrawals                     (16,195)        (6,433)             0           (841)       (36,871)             0
                                              --------       --------       --------        -------       --------        -------

Total gross deposits, transfers, and
  surrenders between fund divisions            382,270        402,914        369,798         (1,025)       (12,427)        47,654
                                              --------       --------       --------        -------       --------        -------


Deductions:
  Premium load charges                          17,692         15,004          7,156            376          1,715            175
  Cost of insurance and administrative
    expenses                                    34,790         25,526         12,823          1,055            890          1,041
                                              --------       --------       --------        -------       --------        -------

     Total deductions                           52,482         40,530         19,979          1,431          2,605          1,216
                                              --------       --------       --------        -------       --------        -------


Net deposits into (withdrawals from)
  Separate Account                            $329,788       $362,384       $349,819        $(2,456)      $(15,032)       $46,438
                                              ========       ========       ========        =======       ========        =======

<FN>

<F*>This fund was formerly known as the Gold & Natural Resources Fund.

<CAPTION>
                                                                                                                      (continued)


<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable General Select Plus:
- -----------------------------




                                                 MULTI-STYLE EQUITY                               CORE BOND
                                                   FUND DIVISION                                FUND DIVISION
                                            -------------------------                    -------------------------
                                               1998          1997<F*>                       1998          1997<F*>
                                            ----------       --------                    ----------       --------
<S>                                         <C>              <C>                         <C>              <C>
Total gross deposits                        $1,940,731       $ 80,451                    $1,482,889       $ 17,978
Transfers between fund divisions and
  General American                           4,822,163        532,364                     3,101,165        215,118
Surrenders and withdrawals                        (187)             0                             0              0
                                            ----------       --------                    ----------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions          6,762,707        612,815                     4,584,054        233,096
                                            ----------       --------                    ----------       --------


Deductions:
  Premium load charges                         204,842          5,866                       117,137          1,346
  Cost of insurance and administrative
    expenses                                   255,638          8,425                       182,736          2,474
                                            ----------       --------                    ----------       --------

     Total deductions                          460,480         14,291                       299,873          3,820
                                            ----------       --------                    ----------       --------


Net deposits into Separate Account          $6,302,227       $598,524                    $4,284,181       $229,276
                                            ==========       ========                    ==========       ========

<CAPTION>

                                                AGGRESSIVE EQUITY                                 NON-US
                                                  FUND DIVISION                                FUND DIVISION
                                            -------------------------                    -------------------------
                                               1998          1997<F*>                       1998          1997<F*>
                                            ----------       --------                    ----------       --------
<S>                                         <C>              <C>                         <C>              <C>
Total gross deposits                        $  502,264       $ 54,099                    $  264,324       $ 42,059
Transfers between fund divisions and
  General American                           1,704,740        281,507                     1,609,166        276,242
Surrenders and withdrawals                        (116)             0                          (119)             0
                                            ----------       --------                    ----------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions          2,206,888        335,606                     1,873,371        318,301
                                            ----------       --------                    ----------       --------


Deductions:
  Premium load charges                          71,141          3,761                        34,958          3,283
  Cost of insurance and administrative
    expenses                                    47,691          3,632                        38,906          3,028
                                            ----------       --------                    ----------       --------

     Total deductions                          118,832          7,393                        73,864          6,311
                                            ----------       --------                    ----------       --------


Net deposits into Separate Account          $2,088,056       $328,213                    $1,799,507       $311,990
                                            ==========       ========                    ==========       ========

                                                                                                       (continued)
<FN>
<F*>The Multi-style Equity Fund, Core Bond Fund, Aggressive Equity Fund,
and Non-US Fund began operations on January 2, 1997.
</TABLE>

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)

<TABLE>

Variable Universal Life - 100:
- ------------------------------


<CAPTION>

                                                         S & P 500 INDEX                              MONEY MARKET
                                                          FUND DIVISION                               FUND DIVISION
                                            ----------------------------------------    -----------------------------------------
                                               1998           1997           1996           1998           1997          1996
                                            ----------     ----------     ----------    -----------    -----------    -----------
<S>                                         <C>            <C>            <C>           <C>            <C>            <C>
Total gross deposits                        $3,774,275     $1,995,433     $  606,419    $ 9,507,851    $ 8,679,144    $ 7,989,872
Transfers between fund divisions and
  General American                           5,484,204      2,177,143      1,285,071     (8,000,842)    (7,303,949)    (6,898,282)
Surrenders and withdrawals                    (299,771)       (68,513)       (12,850)       (11,635)        (3,421)          (242)
                                            ----------     ----------     ----------    -----------    -----------    -----------

Total gross deposits, transfers, and
  surrenders between fund divisions          8,958,708      4,104,063      1,878,640      1,495,374      1,371,774      1,091,348
                                            ----------     ----------     ----------    -----------    -----------    -----------


Deductions:
  Premium load charges                         126,277         66,092         20,294        296,413        286,729        250,193
  Cost of insurance and administrative
    expenses                                 1,411,705        671,147        258,742        639,686        599,119        502,668
                                            ----------     ----------     ----------    -----------    -----------    -----------

     Total deductions                        1,537,982        737,239        279,036        936,099        885,848        752,861
                                            ----------     ----------     ----------    -----------    -----------    -----------


Net deposits into Separate Account          $7,420,726     $3,366,824     $1,599,604    $   559,275    $   485,926    $   338,487
                                            ==========     ==========     ==========    ===========    ===========    ===========

<CAPTION>
                                                                                                                      (continued)
<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------


                                                            BOND INDEX                                 MANAGED EQUITY
                                                           FUND DIVISION                                FUND DIVISION
                                              --------------------------------------       --------------------------------------
                                                1998           1997           1996           1998           1997           1996
                                              --------       --------       --------       --------       --------       --------
<S>                                           <C>            <C>            <C>            <C>            <C>            <C>
Total gross deposits                          $279,989       $184,259       $ 58,468       $488,098       $228,756       $102,809
Transfers between fund divisions and
  General American                             613,426        265,500        257,285        247,910        432,012        120,203
Surrenders and withdrawals                     (10,480)        (4,282)        (2,419)       (59,153)       (13,613)          (413)
                                              --------       --------       --------       --------       --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            882,935        445,477        313,334        676,855        647,155        222,599
                                              --------       --------       --------       --------       --------       --------


Deductions:
  Premium load charges                           9,514          6,186          1,906         16,604          7,603          3,442
  Cost of insurance and administrative
    expenses                                    83,804         57,817         31,767        178,243         96,349         36,945
                                              --------       --------       --------       --------       --------       --------

     Total deductions                           93,318         64,003         33,673        194,847        103,952         40,387
                                              --------       --------       --------       --------       --------       --------


Net deposits into Separate Account            $789,617       $381,474       $279,661       $482,008       $543,203       $182,212
                                              ========       ========       ========       ========       ========       ========

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                                          ASSET ALLOCATION                           INTERNATIONAL INDEX
                                                           FUND DIVISION                              FUND DIVISION<F*>
                                              --------------------------------------       --------------------------------------
                                                1998           1997           1996           1998           1997           1996
                                              --------       --------       --------       --------       --------       --------
<S>                                           <C>            <C>            <C>            <C>            <C>            <C>
Total gross deposits                          $652,869       $297,431       $ 91,429       $542,245       $380,598       $202,195
Transfers between fund divisions and
  General American                             212,547        423,970        233,391         82,381        259,917        315,663
Surrenders and withdrawals                     (16,485)        (7,250)          (906)       (13,406)       (12,338)        (2,005)
                                              --------       --------       --------       --------       --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            848,931        714,151        323,914        611,220        628,177        515,853
                                              --------       --------       --------       --------       --------       --------


Deductions:
  Premium load charges                          21,971         10,273          3,162         18,719         12,990          6,724
  Cost of insurance and administrative
    expenses                                   237,042        159,083         38,520        172,801        138,712         79,260
                                              --------       --------       --------       --------       --------       --------

     Total deductions                          259,013        169,356         41,682        191,520        151,702         85,984
                                              --------       --------       --------       --------       --------       --------


Net deposits into Separate Account            $589,918       $544,795       $282,232       $419,700       $476,475       $429,869
                                              ========       ========       ========       ========       ========       ========

<FN>
<F*>This fund was formerly known as the International Equity Fund.                                                    (continued)

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                                           MID-CAP EQUITY                                     SMALL-CAP EQUITY
                                                          FUND DIVISION<F*>                                     FUND DIVISION
                                              --------------------------------------                      -----------------------
                                                1998           1997           1996                          1998         1997<F**>
                                              --------       --------       --------                      --------       --------
<S>                                           <C>            <C>            <C>                           <C>            <C>
Total gross deposits                          $694,795       $405,467       $232,270                      $390,118       $ 48,912
Transfers between fund divisions and
  General American                             218,584        129,102        228,709                       485,204        254,044
Surrenders and withdrawals                     (36,811)       (15,375)        (5,591)                       (2,420)             0
                                              --------       --------       --------                      --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            876,568        519,194        455,388                       872,902        302,956
                                              --------       --------       --------                      --------       --------


Deductions:
  Premium load charges                          23,485         13,537          7,772                        13,324          1,579
  Cost of insurance and administrative
    expenses                                   206,508        140,909         82,326                       114,663          7,052
                                              --------       --------       --------                      --------       --------

     Total deductions                          229,993        154,446         90,098                       127,987          8,631
                                              --------       --------       --------                      --------       --------


Net deposits into Separate Account            $646,575       $364,748       $365,290                      $744,915       $294,325
                                              ========       ========       ========                      ========       ========

<FN>

<F*>This fund was formerly known as the Special Equity Fund.
<F**>The Small-Cap Equity Fund began operations on May 1, 1997.                                                       (continued)

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                                          EQUITY INCOME                                  GROWTH
                                                          FUND DIVISION                               FUND DIVISION
                                           -----------------------------------------     ----------------------------------------
                                               1998           1997           1996           1998           1997           1996
                                           -----------     ----------     ----------     ----------     ----------     ----------
<S>                                        <C>             <C>            <C>            <C>            <C>            <C>
Total gross deposits                       $ 2,136,531     $1,996,233     $  914,095     $2,942,824     $2,402,233     $1,361,304
Transfers between fund divisions and
  General American                          (1,236,416)       792,184      1,521,792        694,369      1,492,743      1,759,062
Surrenders and withdrawals                    (127,426)       (44,826)        (7,812)      (279,188)      (114,282)       (38,619)
                                           -----------     ----------     ----------     ----------     ----------     ----------

Total gross deposits, transfers, and
  surrenders between fund divisions            772,689      2,743,591      2,428,075      3,358,005      3,780,694      3,081,747
                                           -----------     ----------     ----------     ----------     ----------     ----------


Deductions:
  Premium load charges                          78,973         66,340         29,267        103,369         80,190         44,819
  Cost of insurance and administrative
    expenses                                   940,207        572,720        303,902      1,188,418        842,557        472,178
                                           -----------     ----------     ----------     ----------     ----------     ----------

     Total deductions                        1,019,180        639,060        333,169      1,291,787        922,747        516,997
                                           -----------     ----------     ----------     ----------     ----------     ----------


Net deposits into (withdrawals from)
  Separate Account                         $  (246,491)    $2,104,531     $2,094,906     $2,066,218     $2,857,947     $2,564,750
                                           ===========     ==========     ==========     ==========     ==========     ==========

<CAPTION>
                                                                                                                      (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                                              OVERSEAS                                 ASSET MANAGER
                                                           FUND DIVISION                               FUND DIVISION
                                              --------------------------------------       ---------------------------------------
                                                1998           1997           1996           1998           1997            1996
                                              --------       --------       --------       --------       --------        --------
<S>                                           <C>            <C>            <C>            <C>            <C>             <C>
Total gross deposits                          $630,759       $508,810       $373,593       $317,439       $147,295        $ 50,502
Transfers between fund divisions and
  General American                             143,337        313,710        307,488        146,214        109,004         137,452
Surrenders and withdrawals                     (59,595)       (22,505)       (13,206)       (26,187)        (5,778)         (2,165)
                                              --------       --------       --------       --------       --------        --------

Total gross deposits, transfers, and
  surrenders between fund divisions            714,501        800,015        667,875        437,466        250,521         185,789
                                              --------       --------       --------       --------       --------        --------


Deductions:
  Premium load charges                          21,503         17,197         11,611         10,729          4,955           1,674
  Cost of insurance and administrative
    expenses                                   195,007        165,254        112,510        117,605         74,461          24,175
                                              --------       --------       --------       --------       --------        --------

     Total deductions                          216,510        182,451        124,121        128,334         79,416          25,849
                                              --------       --------       --------       --------       --------        --------


Net deposits into Separate Account            $497,991       $617,564       $543,754       $309,132       $171,105        $159,940
                                              ========       ========       ========       ========       ========        ========

<CAPTION>
                                                                                                                       (continued)

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                                            HIGH INCOME                             WORLDWIDE HARD ASSETS
                                                           FUND DIVISION                              FUND DIVISION<F*>
                                              --------------------------------------        --------------------------------------
                                                1998           1997           1996           1998           1997            1996
                                              --------       --------       --------        -------        -------         -------
<S>                                           <C>            <C>            <C>             <C>            <C>             <C>
Total gross deposits                          $469,183       $300,761       $158,842        $60,696        $63,004         $22,003
Transfers between fund divisions and
  General American                             256,832        224,109        297,097         10,164         18,216          53,910
Surrenders and withdrawals                     (12,240)       (20,348)       (11,551)        (2,562)        (4,909)         (5,154)
                                              --------       --------       --------        -------        -------         -------

Total gross deposits, transfers, and
  surrenders between fund divisions            713,775        504,522        444,388         68,298         76,311          70,759
                                              --------       --------       --------        -------        -------         -------


Deductions:
  Premium load charges                          15,948         10,110          4,982          2,007          2,147             712
  Cost of insurance and administrative
    expenses                                   130,579        105,718         57,557         17,277         19,651          13,421
                                              --------       --------       --------        -------        -------         -------

     Total deductions                          146,527        115,828         62,539         19,284         21,798          14,133
                                              --------       --------       --------        -------        -------         -------


Net deposits into Separate Account            $567,248       $388,694       $381,849        $49,014        $54,513         $56,626
                                              ========       ========       ========        =======        =======         =======

<FN>
<F*> This fund was formerly known as the Gold & Natural Resources Fund.                                                (continued)

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life - 100:
- ------------------------------




                                         MULTI-STYLE EQUITY     CORE BOND              AGGRESSIVE EQUITY      NON-US
                                            FUND DIVISION     FUND DIVISION              FUND DIVISION     FUND DIVISION
                                         ------------------   -------------            -----------------   -------------
                                               1998<F*>         1998<F*>                    1998<F*>         1998<F*>
                                               --------         --------                    --------         --------
<S>                                            <C>               <C>                        <C>              <C>
Total gross deposits                           $11,281           $1,071                     $(3,957)         $ 1,368
Transfers between fund divisions and
  General American                              62,902            7,124                      20,863           12,106
Surrenders and withdrawals                         (69)               0                           0                0
                                               -------           ------                     -------          -------

Total gross deposits, transfers, and
  surrenders between fund divisions             74,114            8,195                      16,906           13,474
                                               -------           ------                     -------          -------


Deductions:
  Premium load charges                             460               40                         167              103
  Cost of insurance and administrative
    expenses                                     5,703            1,266                       3,404            1,186
                                               -------           ------                     -------          -------

     Total deductions                            6,163            1,306                       3,571            1,289
                                               -------           ------                     -------          -------


Net deposits into Separate Account             $67,951           $6,889                     $13,335          $12,185
                                               =======           ======                     =======          =======


<FN>
<F*> The Variable Universal Life - 100 product became available to these
funds on April 30, 1998.                                                                                 (continued)
</TABLE>

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)

<TABLE>

Russell Variable Universal Life:<F*>
- ------------------------------------


<CAPTION>

                                                    MONEY MARKET              MULTI-STYLE EQUITY                CORE BOND
                                                   FUND DIVISION                 FUND DIVISION                FUND DIVISION
                                             ------------------------     -------------------------     -------------------------
                                                1998          1997           1998         1997<F**>        1998          1997<F**>
                                             ---------    -----------     ----------     ----------     ----------       --------
<S>                                          <C>          <C>             <C>            <C>            <C>              <C>
Total gross deposits                         $ 415,709    $ 4,627,386     $1,037,690     $   19,255     $  932,874       $  3,472
Transfers between fund divisions and
  General American                            (469,090)    (4,374,607)       154,284      1,937,967        167,553        914,278
Surrenders and withdrawals                           0              0        (13,263)          (328)       (15,205)             0
                                             ---------    -----------     ----------     ----------     ----------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            (53,381)       252,779      1,178,711      1,956,894      1,085,222        917,750
                                             ---------    -----------     ----------     ----------     ----------       --------


Deductions:
  Premium load charges                          27,188         72,762         75,029          1,369         62,053              0
  Cost of insurance and administrative
    expenses                                    10,537         72,945        108,054         19,567        102,484         21,735
                                             ---------    -----------     ----------     ----------     ----------       --------

     Total deductions                           37,725        145,707        183,083         20,936        164,537         21,735
                                             ---------    -----------     ----------     ----------     ----------       --------


Net deposits into (withdrawals from)
  Separate Account                           $ (91,106)   $   107,072     $  995,628     $1,935,958     $  920,685       $896,015
                                             =========    ===========     ==========     ==========     ==========       ========


                                                                                                                      (continued)
<FN>
<F*>Russell Variable Universal Life product was introduced in 1997, and
the first deposit was received on June 6, 1997.
<F**>The Multi-style Equity Fund and Core Bond Fund began operations on
January 2, 1997.

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Russell Variable Universal Life:<F*>
- ------------------------------------




                                                 AGGRESSIVE EQUITY                  NON-US
                                                   FUND DIVISION                 FUND DIVISION
                                              -----------------------       -----------------------
                                                1998         1997<F**>        1998         1997<F**>
                                              --------       --------       --------       --------
<S>                                           <C>            <C>            <C>            <C>
Total gross deposits                          $397,370       $ 12,641       $514,239       $  8,990
Transfers between fund divisions and
  General American                              54,038        987,308         91,705        532,277
Surrenders and withdrawals                      (3,526)           (94)        (6,050)          (137)
                                              --------       --------       --------       --------

Total gross deposits, transfers, and
  surrenders between fund divisions            447,882        999,855        599,894        541,130
                                              --------       --------       --------       --------


Deductions:
  Premium load charges                          28,279            822         36,821            548
  Cost of insurance and administrative
    expenses                                    35,589          6,442         50,919         10,345
                                              --------       --------       --------       --------

     Total deductions                           63,868          7,264         87,740         10,893
                                              --------       --------       --------       --------


Net deposits into Separate Account            $384,014       $992,591       $512,154       $530,237
                                              ========       ========       ========       ========

                                                                                        (continued)
<FN>
<F*>Russell Variable Universal Life product was introduced in 1997,
and the first deposit was received on June 6, 1997.
<F**>The Aggressive Equity Fund and Non-US Fund began operations on
January 2, 1997.
</TABLE>

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)

<TABLE>

Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------


<CAPTION>

                                           S & P 500 INDEX  MONEY MARKET      BOND INDEX    MANAGED EQUITY
                                            FUND DIVISION   FUND DIVISION    FUND DIVISION  FUND DIVISION
                                           ---------------  -------------    -------------  --------------
                                                1998            1998             1998            1998
                                              --------       ----------         ------          ------
<S>                                           <C>            <C>                <C>             <C>
Total gross deposits                          $  4,307       $2,186,833         $   86          $  186
Transfers between fund divisions and
  General American                             136,331         (337,148)         5,616           8,181
                                              --------       ----------         ------          ------

Total gross deposits, transfers, and
  surrenders between fund divisions            140,638        1,849,685          5,702           8,367
                                              --------       ----------         ------          ------


Deductions:
  Premium load charges                             555          262,833             14              27
  Cost of insurance and administrative
    expenses                                     2,864           52,876             52             154
                                              --------       ----------         ------          ------

     Total deductions                            3,419          315,709             66             181
                                              --------       ----------         ------          ------


Net deposits into Separate Account            $137,219       $1,533,976         $5,636          $8,186
                                              ========       ==========         ======          ======


                                                                                            (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------




                                           ASSET ALLOCATION     INTERNATIONAL INDEX      MID-CAP EQUITY       SMALL-CAP EQUITY
                                             FUND DIVISION      FUND DIVISION<F**>     FUND DIVISION<F***>      FUND DIVISION
                                           ----------------     -------------------    -------------------    ----------------
                                                 1998                  1998                   1998                  1998
                                               -------                ------                 ------                ------
<S>                                            <C>                    <C>                    <C>                   <C>
Total gross deposits                           $   294                $  398                 $  269                $  506
Transfers between fund divisions and
  General American                              11,801                 7,529                  6,292                 6,347
                                               -------                ------                 ------                ------

Total gross deposits, transfers, and
  surrenders between fund divisions             12,095                 7,927                  6,561                 6,853
                                               -------                ------                 ------                ------


Deductions:
  Premium load charges                              30                    44                     34                    68
  Cost of insurance and administrative
    expenses                                       166                   192                    247                   265
                                               -------                ------                 ------                ------

     Total deductions                              196                   236                    281                   333
                                               -------                ------                 ------                ------


Net deposits into Separate Account             $11,899                $7,691                 $6,280                $6,520
                                               =======                ======                 ======                ======


                                                                                                              (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.
<F**>This fund was formerly known as the International Equity Fund.
<F***>This fund was formerly known as the Special Equity Fund.
<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------




                                            EQUITY INCOME     GROWTH        OVERSEAS     ASSET MANAGER
                                            FUND DIVISION  FUND DIVISION  FUND DIVISION  FUND DIVISION
                                            -------------  -------------  -------------  -------------
                                                 1998           1998           1998           1998
                                               -------        -------         ------         ------
<S>                                            <C>            <C>             <C>            <C>
Total gross deposits                           $ 2,126        $ 3,312         $  550         $1,890
Transfers between fund divisions and
  General American                              22,773         43,658          6,272          6,091
                                               -------        -------         ------         ------

Total gross deposits, transfers, and
  surrenders between fund divisions             24,899         46,970          6,822          7,981
                                               -------        -------         ------         ------


Deductions:
  Premium load charges                             235            248             55            111
  Cost of insurance and administrative
    expenses                                     1,202          1,227            195            635
                                               -------        -------         ------         ------

     Total deductions                            1,437          1,475            250            746
                                               -------        -------         ------         ------


Net deposits into Separate Account             $23,462        $45,495         $6,572         $7,235
                                               =======        =======         ======         ======


                                                                                        (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------



                                                              WORLDWIDE        WORLDWIDE       MULTI-STYLE
                                             HIGH INCOME     HARD ASSETS   EMERGING MARKETS      EQUITY
                                            FUND DIVISION   FUND DIVISION    FUND DIVISION    FUND DIVISION
                                            -------------   -------------  ----------------   -------------
                                                1998             1998            1998             1998
                                               -------           ----           ------           -------
<S>                                            <C>               <C>            <C>              <C>
Total gross deposits                           $   582           $ 74           $   45           $26,946
Transfers between fund divisions and
  General American                              11,663             56            1,753            12,531
                                               -------           ----           ------           -------

Total gross deposits, transfers, and
  surrenders between fund divisions             12,245            130            1,798            39,477
                                               -------           ----           ------           -------


Deductions:
  Premium load charges                              84             12                7             3,877
  Cost of insurance and administrative
    expenses                                       300              4               91             1,140
                                               -------           ----           ------           -------

     Total deductions                              384             16               98             5,017
                                               -------           ----           ------           -------


Net deposits into Separate Account             $11,861           $114           $1,700           $34,460
                                               =======           ====           ======           =======


                                                                                             (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------



                                                             AGGRESSIVE
                                               CORE BOND       EQUITY         NON-US     INCOME & GROWTH
                                             FUND DIVISION  FUND DIVISION  FUND DIVISION  FUND DIVISION
                                             -------------  -------------  ------------- ---------------
                                                 1998           1998           1998           1998
                                                ------        -------         ------         ------
<S>                                             <C>           <C>             <C>            <C>
Total gross deposits                            $2,978        $23,310         $3,248         $  126
Transfers between fund divisions and
  General American                               4,298         10,915          5,871          6,880
                                                ------        -------         ------         ------

Total gross deposits, transfers, and
  surrenders between fund divisions              7,276         34,225          9,119          7,006
                                                ------        -------         ------         ------


Deductions:
  Premium load charges                             420          3,441            448             29
  Cost of insurance and administrative
    expenses                                        98            755            184            132
                                                ------        -------         ------         ------

     Total deductions                              518          4,196            632            161
                                                ------        -------         ------         ------


Net deposits into Separate Account              $6,758        $30,029         $8,487         $6,845
                                                ======        =======         ======         ======


                                                                                        (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Variable Universal Life Insurance - 98:<F*>
- -------------------------------------------



                                                                                                            SMALL COMPANY
                                                       INTERNATIONAL        VALUE         BOND PORTFOLIO      PORTFOLIO
                                                       FUND DIVISION    FUND DIVISION     FUND DIVISION     FUND DIVISION
                                                       -------------    -------------     --------------    -------------
                                                           1998             1998              1998              1998
                                                           ----            ------            ------            ------
<S>                                                        <C>             <C>               <C>               <C>
Total gross deposits                                       $258            $   93            $  117            $   54
Transfers between fund divisions and
  General American                                          713             3,740             3,219             3,034
                                                           ----            ------            ------            ------

Total gross deposits, transfers, and
  surrenders between fund divisions                         971             3,833             3,336             3,088
                                                           ----            ------            ------            ------


Deductions:
  Premium load charges                                       44                17                14                12
  Cost of insurance and administrative
    expenses                                                 74                30                23               154
                                                           ----            ------            ------            ------

     Total deductions                                       118                47                37               166
                                                           ----            ------            ------            ------


Net deposits into Separate Account                         $853            $3,786            $3,299            $2,922
                                                           ====            ======            ======            ======


                                                                                                          (continued)
<FN>
<F*>The Variable Universal Life Insurance 98 product was introduced in 1998,
and the first deposit was received on September 29, 1998.
</TABLE>

<PAGE>
<PAGE>

NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)

<TABLE>

Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------


<CAPTION>

                                                     S & P 500 INDEX   MONEY MARKET        BOND INDEX         MANAGED EQUITY
                                                      FUND DIVISION   FUND DIVISION       FUND DIVISION       FUND DIVISION
                                                     ---------------  -------------       -------------       --------------
                                                          1998             1998                1998               1998
                                                         ------          --------              ----               ----
<S>                                                      <C>             <C>                   <C>                <C>
Total gross deposits                                          0           327,992                 0
Transfers between fund divisions and
  General American                                       $1,201          $(21,803)             $905               $  0
                                                         ------          --------              ----               ----

Total gross deposits, transfers, and
  surrenders between fund divisions                       1,201           306,189               905                  0
                                                         ------          --------              ----               ----


Deductions:
  Premium load charges                                        0            50,777                 0                  0
  Cost of insurance and administrative
    expenses                                                 24            14,164                24                  0
                                                         ------          --------              ----               ----

     Total deductions                                        24            64,941                24                  0
                                                         ------          --------              ----               ----


Net deposits into Separate Account                       $1,177          $241,248              $881               $  0
                                                         ======          ========              ====               ====


                                                                                                           (continued)
<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product
was introduced in 1998, and the first deposit was received on October 14,
1998.


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------




                                                   INTERNATIONAL INDEX  MID-CAP EQUITY  SMALL-CAP EQUITY    EQUITY INCOME
                                                      FUND DIVISION     FUND DIVISION     FUND DIVISION     FUND DIVISION
                                                   -------------------  --------------  ----------------    -------------
                                                           1998             1998              1998              1998
                                                           ----            ------            ------            ------
<S>                                                        <C>             <C>               <C>               <C>
Transfers between fund divisions and
  General American                                         $905            $1,752            $1,692            $2,609
                                                           ----            ------            ------            ------

Total gross deposits, transfers, and
  surrenders between fund divisions                         905             1,752             1,692             2,609
                                                           ----            ------            ------            ------


Deductions:
  Cost of insurance and administrative
    expenses                                                 24                54                53                76
                                                           ----            ------            ------            ------

     Total deductions                                        24                54                53                76
                                                           ----            ------            ------            ------


Net deposits into Separate Account                         $881            $1,698            $1,639            $2,533
                                                           ====            ======            ======            ======


                                                                                                          (continued)
<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product was
introduced in 1998, and the first deposit was received on October 14, 1998.

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------



                                                                                                             MULTI-STYLE
                                                          GROWTH          OVERSEAS         HIGH INCOME         EQUITY
                                                       FUND DIVISION    FUND DIVISION     FUND DIVISION     FUND DIVISION
                                                       -------------    -------------     -------------     -------------
                                                           1998             1998              1998              1998
                                                           ----            ------            ------            ------
<S>                                                        <C>             <C>               <C>               <C>
Transfers between fund divisions and
  General American                                         $905            $1,706            $1,711            $4,306
                                                           ----            ------            ------            ------

Total gross deposits, transfers, and
  surrenders between fund divisions                         905             1,706             1,711             4,306
                                                           ----            ------            ------            ------


Deductions:
  Cost of insurance and administrative
    expenses                                                 24                53                53               133
                                                           ----            ------            ------            ------

     Total deductions                                        24                53                53               133
                                                           ----            ------            ------            ------


Net deposits into Separate Account                         $881            $1,653            $1,658            $4,173
                                                           ====            ======            ======            ======


                                                                                                          (continued)
<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product was
introduced in 1998, and the first deposit was received on October 14, 1998.


<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------



                                                          WORLDWIDE         WORLDWIDE
                                                         HARD ASSETS     EMERGING MARKETS
                                                        FUND DIVISION     FUND DIVISION
                                                        -------------    ----------------
                                                            1998              1998
                                                            ----              ----
<S>                                                         <C>               <C>
Transfers between fund divisions and
  General American                                             0              $  0


Total gross deposits, transfers, and
  surrenders between fund divisions                            0                 0
                                                            ----              ----


Deductions:
  Cost of insurance and administrative
    expenses                                                   0                 0
                                                            ----              ----

     Total deductions                                          0                 0
                                                            ----              ----


Net deposits into Separate Account                          $  0              $  0
                                                            ====              ====


                                                                        (continued)
<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product was
introduced in 1998, and the first deposit was received on October 14, 1998.

<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------




                                                        CORE BOND          NON-US
                                                      FUND DIVISION     FUND DIVISION
                                                      -------------     -------------
                                                          1998              1998
                                                         ------            ------
<S>                                                      <C>               <C>
Transfers between fund divisions and
  General American                                       $1,708            $1,774
                                                         ------            ------

Total gross deposits, transfers, and
  surrenders between fund divisions                       1,708             1,774
                                                         ------            ------


Deductions:
  Cost of insurance and administrative
    expenses                                                 50                52
                                                         ------            ------

     Total deductions                                        50                52
                                                         ------            ------


Net deposits into Separate Account                       $1,658            $1,722
                                                         ======            ======


<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product was
introduced in 1998, and the first deposit was received on October 14, 1998.


                                                                      (continued)
<PAGE>
<PAGE>

<CAPTION>
NOTE 7 - SUMMARY OF GROSS AND NET DEPOSITS INTO SEPARATE ACCOUNT,
(CONTINUED)



Joint and Survivor Variable Universal Life Insurance - 98:<F*>
- --------------------------------------------------------------



                                                                                                             SMALL COMPANY
                                                       INTERNATIONAL         VALUE         BOND PORTFOLIO      PORTFOLIO
                                                       FUND DIVISION     FUND DIVISION     FUND DIVISION     FUND DIVISION
                                                       -------------     -------------     --------------    -------------
                                                           1998              1998              1998              1998
                                                           ----              ----              ----              ----
<S>                                                        <C>               <C>               <C>               <C>
Total gross deposits                                       $  0              $  0              $  0              $  0
Transfers between fund divisions and
  General American                                            0                 0                 0                 0
Surrenders and withdrawals                                    0                 0                 0                 0
                                                           ----              ----              ----              ----

Total gross deposits, transfers, and
  surrenders between fund divisions                           0                 0                 0                 0
                                                           ----              ----              ----              ----


Deductions:
  Premium load charges                                        0                 0                 0                 0
  Cost of insurance and administrative
    expenses                                                  0                 0                 0                 0
                                                           ----              ----              ----              ----

     Total deductions                                         0                 0                 0                 0
                                                           ----              ----              ----              ----


Net deposits into Separate Account                         $  0              $  0              $  0              $  0
                                                           ====              ====              ====              ====

<FN>
<F*>The Joint and Survivor Variable Universal Life Insurance 98 product was
introduced in 1998, and the first deposit was received on October 14, 1998.
</TABLE>
<PAGE>
<PAGE>

<TABLE>
                GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                        SCHEDULE OF INVESTMENTS
                           DECEMBER 31, 1998

<CAPTION>
                                                      No. of Shares    Market Value
                                                      -------------    ------------
<S>                                                      <C>           <C>
  S & P 500 Index Fund
   General American Capital Company <F*>                 840,692       $42,444,451

  Money Market Fund
   General American Capital Company <F*>                 344,308         6,628,249

  Bond Index Fund
   General American Capital Company <F*>                 202,948         5,112,190

  Managed Equity Fund
   General American Capital Company <F*>                 155,077         5,524,930

  Asset Allocation Fund
   General American Capital Company <F*>                 353,370        13,268,875

  International Index Fund <F**>
   General American Capital Company <F*>                 499,317         9,923,419

  Mid-Cap Equity Fund <F***>
   General American Capital Company <F*>                 339,277         7,378,489

  Small-Cap Equity Fund
   General American Capital Company <F*>                  54,341         2,366,635

  Equity-Income Fund
   Variable Insurance Products Fund                      821,865        20,891,810

  Growth Fund
   Variable Insurance Products Fund                      787,012        35,313,212

  Overseas Fund
   Variable Insurance Products Fund                      497,345         9,971,775

  Asset Manager Fund
   Variable Insurance Products Fund II                    68,024         1,235,314

  High Income Fund
   Variable Insurance Products Fund                      259,130         2,987,766

  Worldwide Hard Assets Fund <F****>
   Van Eck Worldwide Insurance Trust                      23,991           220,714

  Worldwide Emerging Markets Fund
   Van Eck Worldwide Insurance Trust                         266             1,895

<FN>

  <F*> These funds use consent dividending.  See Note 2C.
  <F**> This fund was formerly known as the International Equity Fund.
  <F***> This fund was formerly known as the Special Equity Fund.
  <F****>This fund was formerly known as the Gold & Natural Resources Fund
<CAPTION>
  See accompanying notes to financial statements.                       (continued)

<PAGE>
<PAGE>

                GENERAL AMERICAN SEPARATE ACCOUNT ELEVEN
                  SCHEDULE OF INVESTMENTS (CONTINUED)
                           DECEMBER 31, 1998


                                                      No. of Shares    Market Value
                                                      -------------    ------------
<S>                                                      <C>           <C>
  Multi-Style Equity Fund
   Russell Insurance Funds                               711,706       $11,401,536

  Core Bond Fund
   Russell Insurance Funds                               602,660         6,436,407

  Aggressive Equity Fund
   Russell Insurance Funds                               312,669         3,970,890

  Non-US Fund
   Russell Insurance Funds                               308,122         3,417,076

  Income & Growth Fund
   American Century Variable Portfolios                    1,095             7,422

  International Fund
   American Century Variable Portfolios                      119               903

  Value Fund
   American Century Variable Portfolios                      487             3,280

  Bond Portfolio
   J.P. Morgan Series Trust II                               283             3,302

  Small Company Portfolio
   J.P. Morgan Series Trust II                               273             3,242



  See accompanying notes to financial statements.
</TABLE>




<PAGE>
<PAGE>

              GENERAL AMERICAN LIFE INSURANCE COMPANY
                          AND SUBSIDIARIES

                 Consolidated Financial Statements

                     December 31, 1998 and 1997

            (With Independent Auditors' Report Thereon)


<PAGE>
<PAGE>

                    INDEPENDENT AUDITORS' REPORT

Board of Directors and Members of
   General American Life Insurance Company:

We have audited the accompanying consolidated balance sheets of General
American Life Insurance Company and subsidiaries as of December 31, 1998
and 1997, and the related consolidated statements of operations,
comprehensive income, stockholder equity, and cash flows for each of the
years in the three-year period ended December 31, 1998. These
consolidated financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on
these consolidated financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of
General American Life Insurance Company and subsidiaries as of
December 31, 1998 and 1997, and the results of their operations and
their cash flows for each of the years in the three-year period ended
December 31, 1998, in conformity with generally accepted accounting
principles.



March 4, 1999

<PAGE>
<PAGE>

<TABLE>
                            GENERAL AMERICAN LIFE INSURANCE COMPANY
                                       AND SUBSIDIARIES

                                  Consolidated Balance Sheets

                                   December 31, 1998 and 1997

                                    (dollars in thousands)
<CAPTION>
                      ASSETS                               1998                     1997
                                                        -----------              ----------
<S>                                                     <C>                      <C>

Fixed maturities:
  Available for sale, at fair value                     $11,068,283               9,115,519
Mortgage loans, net                                       2,337,542               2,140,262
Real estate, net                                            129,851                 140,145
Equity securities, at fair value                             48,550                  24,211
Policy loans                                              2,151,028               2,073,152
Short-term investments                                      195,346                 190,374
Other invested assets                                       457,645                 243,921
                                                        -----------              ----------

           Total investments                             16,388,245              13,927,584

Cash and cash equivalents                                   591,107                 358,879
Accrued investment income                                   205,645                 168,592
Reinsurance recoverables                                    904,998                 718,717
Other contract deposits                                   4,094,777               3,336,328
Deferred policy acquisition costs                           773,762                 695,253
Other assets                                                602,965                 488,582
Separate account assets                                   5,287,456               4,118,860
                                                        -----------              ----------

           Total assets                                 $28,848,955              23,812,795
                                                        ===========              ==========

        LIABILITIES AND STOCKHOLDER EQUITY

Policy and contract liabilities:
  Future policy benefits                                 $5,516,869               4,933,787
  Policyholder account balances:
     Universal life                                       2,960,940               2,534,744
     Annuities                                            3,714,526               4,161,946
  Pension funds and interest sensitive
    contract liabilities                                  7,581,276               4,732,400
  Policy and contract claims                                591,088                 458,606
  Dividends payable to policyholders                        121,740                 113,525
                                                        -----------              ----------

           Total policy and contract liabilities         20,486,439              16,935,008

Amounts payable to reinsurers                               201,395                 247,679
Long-term debt and notes payable                            221,850                 214,477
Other liabilities and accrued expenses                      912,291                 826,868
Deferred tax liability, net                                  75,429                  89,046
Separate account liabilities                              5,267,553               4,112,666
                                                        -----------              ----------

           Total liabilities                             27,164,957              22,425,744
                                                        -----------              ----------

Minority interests                                          383,085                 216,555

Stockholder equity:
  Common stock, $1 par value, 5,000,000 shares
     authorized, 3,000,000 shares issued and
     outstanding                                              3,000                   3,000
  Additional paid-in capital                                  3,000                   3,000
  Retained earnings                                       1,242,004               1,057,613
  Accumulated other comprehensive income                     52,909                 106,883
                                                        -----------              ----------

           Total stockholder equity                       1,300,913               1,170,496
                                                        -----------              ----------

           Total liabilities and stockholder equity     $28,848,955              23,812,795
                                                        ===========              ==========

See accompanying notes to consolidated financial statements.
</TABLE>

                               2
<PAGE>
<PAGE>

<TABLE>

                                GENERAL AMERICAN LIFE INSURANCE COMPANY
                                            AND SUBSIDIARIES

                                 Consolidated Statements of Operations

                             Years ended December 31, 1998, 1997, and 1996

                                         (dollars in thousands)
<CAPTION>
                                                            1998              1997                1996
                                                         ----------         ---------          ---------
<S>                                                      <C>                <C>                <C>
Revenues:
  Insurance premiums and other considerations            $2,244,156         1,768,169          1,623,228
  Net investment income                                   1,135,838           945,542            806,883
  Ceded commissions                                          39,921            44,902             27,538
  Other income                                              330,731           362,160            280,803
  Net realized investment gains                              13,646            28,538             24,531
                                                         ----------         ---------          ---------

           Total revenues                                 3,764,292         3,149,311          2,762,983

Benefits and expenses:
  Policy benefits                                         1,992,997         1,528,333          1,379,803
  Interest credited to policyholder account balances        426,806           345,937            262,532
                                                         ----------         ---------          ---------

           Total policyholder benefits                    2,419,803         1,874,270          1,642,335

  Dividends to policyholders                                192,085           182,146            171,904
  Policy acquisition costs                                  240,640           168,045            143,094
  Other insurance and operating expenses                    711,901           739,814            642,636
                                                         ----------         ---------          ---------

           Total benefits and expenses                    3,564,429         2,964,275          2,599,969
                                                         ----------         ---------          ---------

           Income before provision for income taxes
             and minority interest                          199,863           185,036            163,014
                                                         ----------         ---------          ---------

Income tax provision (benefit):
  Current                                                    35,226            65,778             45,902
  Deferred                                                   18,351              (113)            13,992
                                                         ----------         ---------          ---------

           Total provision for income taxes                  53,577            65,665             59,894
                                                         ----------         ---------          ---------

           Income before minority interest                  146,286           119,371            103,120

Minority interest in earnings of consolidated
  subsidiaries                                              (29,220)          (22,134)           (19,888)
                                                         ----------         ---------          ---------

           Net income                                      $117,066            97,237             83,232
                                                         ==========         =========          =========

See accompanying notes to consolidated financial statements.
</TABLE>

                               3
<PAGE>
<PAGE>
<TABLE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                              AND SUBSIDIARIES

               Consolidated Statements of Comprehensive Income

                Years ended December 31, 1998, 1997, and 1996

                           (dollars in thousands)
<CAPTION>
                                                1998        1997         1996
                                              --------     -------      -------
<S>                                           <C>          <C>          <C>
Net income                                    $117,066      97,237       83,232

Other comprehensive (loss) income              (53,974)     75,583      (49,705)
                                              --------     -------      -------
         Comprehensive income                  $63,092     172,820       33,527
                                              ========     =======      =======

See accompanying notes to consolidated financial statements.
</TABLE>

                               4
<PAGE>
<PAGE>

<TABLE>
                                      GENERAL AMERICAN LIFE INSURANCE COMPANY
                                                  AND SUBSIDIARIES

                                   Consolidated Statements of Stockholder Equity

                                   Years ended December 31, 1998, 1997, and 1996

                                              (dollars in thousands)

<CAPTION>
                                                                                                  ACCUMULATED
                                                                      ADDITIONAL                     OTHER          TOTAL
                                                        COMMON         PAID-IN     RETAINED      COMPREHENSIVE   STOCKHOLDER
                                                        STOCK          CAPITAL     EARNINGS         INCOME         EQUITY
                                                        ------       -----------   ---------     -------------   -----------
<S>                                                     <C>             <C>        <C>              <C>           <C>
Balance at December 31, 1995                            $   --             --        876,078         81,005         957,083
Net income                                                  --             --         83,232             --          83,232
Other comprehensive (loss) income                           --             --             --        (49,705)        (49,705)
Other, net                                                  --             --          7,177             --           7,177
                                                        ------          -----      ---------        -------       ---------

Balance at December 31, 1996                                --             --        966,487         31,300         997,787
Net income                                                  --             --         97,237             --          97,237
Other comprehensive income                                  --             --             --         75,583          75,583
Issuance of common stock                                 3,000          3,000         (6,000)            --              --
Dividend to parent                                          --             --         (4,480)            --          (4,480)
Other, net                                                  --             --          4,369             --           4,369
                                                        ------          -----      ---------        -------       ---------

Balance at December 31, 1997                             3,000          3,000      1,057,613        106,883       1,170,496
Net income                                                  --             --        117,066             --         117,066
Other comprehensive (loss) income                           --             --             --        (53,974)        (53,974)
Parent's share of subsidiary's
  issuance of nonvoting stock                               --             --         68,609             --          68,609
Other, net                                                  --             --         (1,284)            --          (1,284)
                                                        ------          -----      ---------        -------       ---------

Balance at December 31, 1998                            $3,000          3,000      1,242,004         52,909       1,300,913
                                                        ======          =====      =========        =======       =========

See accompanying notes to consolidated financial statements.
</TABLE>

                               5
<PAGE>
<PAGE>

<TABLE>
                                GENERAL AMERICAN LIFE INSURANCE COMPANY
                                            AND SUBSIDIARIES

                                 Consolidated Statements of Cash Flows

                             Years ended December 31, 1998, 1997, and 1996

                                         (dollars in thousands)
<CAPTION>
                                                                    1998            1997          1996
                                                                 -----------     ----------    ----------
<S>                                                              <C>             <C>         <C>
Cash flows from operating activities:
  Net income                                                     $   117,066         97,237        83,232
  Adjustments to reconcile net income to net cash
    (used in) provided by operating activities:
        Change in:
           Accrued investment income                                 (37,424)       (20,568)      (16,275)
           Reinsurance recoverables and other contract deposits     (942,384)      (838,390)     (159,713)
           Deferred policy acquisition costs                        (102,050)      (113,040)      (87,249)
           Other assets                                              (99,506)       (61,796)      (51,444)
           Future policy benefits                                    582,899        693,052       330,511
           Policy and contract claims                                132,481        105,503        14,652
           Other liabilities and accrued expenses                     48,220        319,787        65,184
        Deferred income tax provision                                 18,351           (113)       13,992
        Policyholder considerations                                 (219,295)      (137,163)     (144,748)
        Interest credited to policyholder account balances           426,806        345,937       262,532
        Amortization and depreciation                                 34,578         32,744        28,375
        Net realized investment gains                                (13,646)       (28,538)      (24,531)
        Other, net                                                     7,380            372       (14,554)
                                                                 -----------     ----------    ----------

              Net cash (used in) provided by operating
                activities                                           (46,524)       395,024       299,964
                                                                 -----------     ----------    ----------

Cash flows from investing activities:
  Proceeds from investments sold or redeemed:
    Fixed maturities available for sale                            2,027,415      2,070,743     1,822,169
    Mortgage loans                                                   370,418        594,151       182,650
    Equity securities                                                  2,065         31,602        13,427
  Cost of investments purchased:
    Fixed maturities available for sale                           (4,251,065)    (4,463,100)   (3,428,943)
    Mortgage loan originations                                      (594,480)      (438,959)     (593,438)
    Equity securities                                                (17,396)       (47,283)      (39,553)
  Maturity of fixed maturities available for sale                    145,247        281,736       225,087
  Increase in policy loans, net                                      (77,876)      (153,399)     (210,624)
  Increase in short-term and other invested assets, net             (215,142)      (130,464)      (12,678)
  Investments in subsidiaries                                        (24,531)        (6,032)       (4,807)
                                                                 -----------     ----------    ----------

              Net cash used in investing activities               (2,635,345)    (2,261,005)   (2,046,710)
                                                                 -----------     ----------    ----------

Cash flows from financing activities:
  Net policyholder account and contract deposits                   2,682,959      2,121,488     1,632,495
  Proceeds from subsidiary stock offering                            221,837             --            --
  Issuance of debt                                                     2,281          1,857       106,903
  Repayment of debt                                                     (411)       (80,606)      (19,497)
  Dividends                                                           (3,839)        (2,112)       (1,832)
  Other, net                                                          27,577         46,829        26,770
                                                                 -----------     ----------    ----------

              Net cash provided by financing activities            2,930,404      2,087,456     1,744,839
                                                                 -----------     ----------    ----------

Effect of exchange rate changes                                      (16,307)        (5,320)         (266)
                                                                 -----------     ----------    ----------

              Net increase (decrease) in cash and
                cash equivalents                                     232,228        216,155        (2,173)

Cash and cash equivalents at beginning of year                       358,879        142,724       144,897
                                                                 -----------     ----------    ----------

Cash and cash equivalents at end of year                         $   591,107        358,879       142,724
                                                                 ===========     ==========    ==========

See accompanying notes to consolidated financial statements.
</TABLE>

                               6
                <PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


(1)   BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

             REORGANIZATION

      In September 1996, the Board of Directors of General American
      Life Insurance Company (General American) adopted the
      Reorganization Plan (Plan) which authorized the reorganization
      (Reorganization) of General American into a mutual insurance
      holding company structure. The Missouri Department of Insurance
      held a public hearing on the Reorganization on December 19, 1996
      and approved the Plan on January 24, 1997. The policyholders of
      General American approved the Plan on January 28, 1997 and the
      Reorganization became effective on April 24, 1997 (effective
      date). General American was the first company to obtain approval
      and to form a mutual insurance holding company under the Missouri
      Mutual Holding Company Statute.

      Pursuant to the Reorganization, General American (the Company)
      (i) formed General American Mutual Holding Company (GAMHC) as a
      mutual insurance holding company under the insurance laws of the
      State of Missouri, (ii) formed GenAmerica Corporation
      (GenAmerica) as an intermediate stock holding company under the
      general laws of the State of Missouri, and (iii) amended and
      restated its Charter and Articles of Incorporation to authorize
      the issuance of capital stock and the continuance of its
      existence as a stock life insurance company under the same name.
      GAMHC may, among other things, elect all of the directors of
      GenAmerica and approve matters submitted for shareholder
      approval. As of the effective date of the Reorganization, the
      membership interests and the contractual rights of the
      policyholders of the Company were separated - the membership
      interests automatically became, by operation of law, membership
      interests in GAMHC and the contractual rights remained with the
      Company. Each person who becomes the owner of a designated policy
      or contract of insurance or annuity issued by the Company after
      the effective date of the Reorganization (subject to certain
      exceptions and conditions set forth in the Articles of
      Incorporation of GAMHC) will become a member of GAMHC and have a
      membership interest in GAMHC by operation of law so long as such
      policy or contract remains in force. The membership interests in
      GAMHC follow, and are not severable, from the insurance policy or
      annuity contract from which the membership interest in GAMHC is
      derived.

      On the effective date, the Company issued three million shares of
      its authorized shares of capital stock to GAMHC. GAMHC then
      contributed all of these to GenAmerica in exchange for one
      thousand shares of its common stock. As a result, GenAmerica
      directly owns the Company, and GAMHC indirectly owns the Company,
      through GenAmerica. The Reorganization was accounted for at
      historical cost in a manner similar to a pooling of interests.

      The consolidated financial statements include the assets,
      liabilities, and results of operations of the Company and its
      wholly owned subsidiaries, General American Holding Company, a
      noninsurance holding company; Cova Corporation, an insurance
      holding company; Paragon Life Insurance Company; Security Equity
      Life Insurance Company; General Life Insurance Company of
      America; General Life Insurance Company, its 53.3 percent owned
      subsidiary, Reinsurance Group of America, Incorporated (RGA), an
      insurance holding company, and its 62.7 percent owned subsidiary,
      Conning Corporation.

                                                              (Continued)

                               7
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

      The Company's principal lines of business, conducted through
      itself or one of its subsidiaries, are Individual Life Insurance,
      Annuities, Group Life and Health Insurance, Asset Management, and
      Reinsurance. The Company distributes its products and services
      primarily through a nationwide network of general agencies,
      independent brokers, and group sales and claims offices. The
      Company and its subsidiaries are licensed to do business in all
      fifty states, ten Canadian provinces, Puerto Rico, and the
      District of Columbia. Through its subsidiaries, the Company has
      operations in Europe, Pacific Rim countries, Latin America, and
      Africa.

             INITIAL PUBLIC OFFERING

      In December 1997, the Company's subsidiary, Conning Corporation
      (Conning), successfully completed an initial public offering
      (IPO) of 2.875 million shares of its common stock. Conning
      received net proceeds of approximately $34.5 million from the
      offering. The Company owned 62.7 percent of the total shares
      outstanding of Conning's common stock at December 31, 1998 and
      1997. The publicly held stock of Conning is listed on the NASDAQ
      National Market System.

             SUBSEQUENT OFFERINGS

      At the Company's subsidiary, RGA's annual stockholders' meeting
      on May 27, 1998, a new class of non-voting common stock was
      authorized.  In June 1998, RGA completed a secondary public
      offering in which it sold 4.945 million shares of non-voting
      common stock traded on the New York Stock Exchange under the
      symbol RGA.A.  The offering provided net proceeds of
      approximately $221.8 million which have been utilized to finance
      the continued growth of RGA's operations domestically and
      internationally.  After the subsequent offering, the Company's
      ownership percentage decreased from 63.8 percent to 53.3 percent.

             SIGNIFICANT ACCOUNTING POLICIES

      The accompanying consolidated financial statements are prepared
      on the basis of generally accepted accounting principles (GAAP)
      and include the accounts of the Company and its majority owned
      subsidiaries. Less than majority-owned entities in which the
      Company has at least a 20 percent interest are reported on the
      equity basis. All significant intercompany accounts and
      transactions have been eliminated in consolidation. The
      preparation of financial statements requires the use of estimates
      by management which affect the amounts reflected in the financial
      statements. Actual results could differ from those estimates.
      Accounts that the Company deems to be sensitive to changes in
      estimates include future policy benefits and policy and contract
      claims, deferred acquisition costs, and investment and deferred
      tax valuation allowances.

      The significant accounting policies of the Company are as
      follows:

             RECOGNITION OF REVENUE

      For traditional life policies, including participating
      businesses, premiums are recognized when due, less allowances for
      estimated uncollectible balances. For limited payment contracts,
      net premiums are recorded as revenue, and the difference between
      the gross premium and the net premium is deferred and recognized
      in income in a constant relationship to insurance in force over
      the estimated policy life.

                                                              (Continued)

                               8
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


      For universal life and annuity products, contract charges for
      mortality, surrender, and expense, other than front-end expense
      charges, are reported as income when charged to policyholders'
      accounts.

      Other income represents the fees generated from the Company's
      noninsurance operations, primarily service and contract fees
      relating to concessions, asset management, system development,
      and third-party administration. Amounts are recognized when
      earned.

             INVESTED ASSETS

             FIXED MATURITIES AND EQUITY SECURITIES: All of the
             Company's securities are classified as available for sale.
             Fixed maturities available for sale are reported at fair
             value and are so classified based on the possibility that
             such securities could be sold prior to maturity if that
             action enables the Company to execute its investment
             philosophy and appropriately match investment results to
             operating and liquidity needs. Equity securities are
             carried at fair value.

             Realized gains or losses on the sale of securities are
             determined on the basis of specific identification.
             Unrealized gains and losses are recorded, net of related
             income tax effects, in accumulated other comprehensive
             income, a separate component of stockholders' equity.

             MORTGAGE LOANS:  Mortgage loans on real estate are stated
             at an unpaid principal balance, net of unamortized
             discounts and valuation allowances for possible impairment
             in value. The Company discontinues the accrual of interest
             on mortgage loans which are more than 90 days delinquent.
             Interest received on nonaccrual mortgage loans is generally
             reported as interest income.

             POLICY LOANS, REAL ESTATE, AND OTHER INVESTED ASSETS:
             Policy loans are carried at an unpaid principal balance and
             are generally secured by the cash surrender value.
             Investment real estate which the Company has the intent to
             hold for the production of income is carried at depreciated
             cost, net of writedowns for other than temporary declines
             in fair value and encumbrances. Properties held for sale
             (primarily acquired through foreclosure) are carried at the
             lower of depreciated cost (fair value at foreclosure plus
             capital additions less accumulated depreciation and
             encumbrances) or fair value. Adjustments to carrying value
             of properties held for sale are recorded in a valuation
             reserve when the fair value is below depreciated cost. The
             accumulated depreciation and encumbrances on real estate
             amounted to $52.4 million and $47.0 million at December 31,
             1998 and 1997, respectively. Direct valuation allowances
             amounted to $7.3 million and $6.7 million at December 31,
             1998 and 1997, respectively. Other invested assets are
             principally recorded at fair value.

             SHORT-TERM INVESTMENTS:  Short-term investments, consisting
             primarily of money market instruments and other debt issues
             purchased with an original maturity of less than a year,
             are carried at amortized cost, which approximates fair
             value.

             INVESTED ASSET IMPAIRMENT AND VALUATION ALLOWANCES:
             Invested assets are considered impaired when the Company
             determines that collection of all amounts due under the
             contractual terms is doubtful. The Company adjusts invested
             assets to their estimated net realizable value at the point
             at which it determines an impairment is other than
             temporary. In addition, the Company has established
             valuation allowances for mortgage loans and other invested
             assets. Valuation

                                                              (Continued)

                               9
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

             allowances for other than temporary impairments in value
             are netted against the asset categories to which they
             apply. Additions to valuation allowances are included in
             realized gains and losses.

             The Company recognizes its proportionate share of the
             resultant gains or losses on the issuance or repurchase of
             its subsidiaries' stock as a direct credit or charge to
             unassigned funds.

             CASH AND CASH EQUIVALENTS:  For purposes of reporting cash
             flows, cash and cash equivalents represent cash, demand
             deposits, and highly liquid short-term investments, which
             include U.S. Treasury bills, commercial paper, and
             repurchase agreements with original or remaining maturities
             of 90 days or less when purchased.

             INVESTMENT INCOME

      Fixed maturity premium and discounts are amortized into income
      using the scientific yield method over the term of the security.
      Amortization of the premium or discount on mortgage-backed
      securities is recognized using a scientific yield method which
      considers the estimated timing and amount of prepayments of
      underlying mortgage loans. Actual prepayment experience is
      periodically reviewed and effective yields are adjusted when
      differences arise between the prepayments originally anticipated
      and the actual prepayments received and currently anticipated.
      When such differences occur, the net investment in the
      mortgage-backed security is adjusted to the amount that would
      have existed had the new effective yield been applied since the
      acquisition of the security with a corresponding charge or credit
      to interest income (the "retrospective method").

             POLICY AND CONTRACT LIABILITIES

      For traditional life insurance policies, future policy benefits
      are computed using a net level premium method with actuarial
      assumptions as to mortality, persistency, and interest
      established at policy issue. Assumptions established at policy
      issue as to mortality and persistency are based on industry
      standards and the Company's historical experience which, together
      with interest and expense assumptions, provide a margin for
      adverse deviation. Interest rate assumptions generally range from
      2.5 percent to 11.0 percent. When the liabilities for future
      policy benefits plus the present value of expected future gross
      premiums are insufficient to provide for expected policy benefits
      and expenses, unrecoverable deferred policy acquisition costs are
      written off and thereafter a premium deficiency reserve is
      established through a charge to earnings.

      For participating policies, future policy benefits are computed
      using a net level premium method based on the guaranteed cash
      value basis for mortality and interest. Mortality rates are
      similar to those used for statutory valuation purposes. Interest
      rates generally range from 2.5 percent to 6.0 percent. Dividend
      liabilities are established when earned.

      Policyholder account balances for universal life and annuity
      policies are equal to the policyholder account value before
      deduction of any surrender charges. The policyholder account
      value represents an accumulation of gross premium payments plus
      credited interest less expense and mortality charges, and
      withdrawals. These expense charges are recognized in income as
      earned.

                                                              (Continued)

                               10
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


      The range of weighted average interest crediting rates used by
      the Company's life insurance subsidiaries were as follows:

                               1998           1997          1996
                            ----------     ----------    -----------

        Universal life      5.25-7.10%     6.00-7.10%     6.00-7.56%
        Annuities           4.00-9.20%     5.70-9.30%    5.70-13.00%
                            ==========     ==========    ===========

      Accident and health benefits for active lives are calculated
      using the net level premium method and assumptions as to future
      morbidity, withdrawals, and interest, which provide a margin for
      adverse deviation. Benefit liabilities for disabled lives are
      calculated using the present value of future benefits and
      experience assumptions for claim termination, expense, and
      interest which also provide a margin for adverse deviation.

             POLICY AND CONTRACT CLAIMS

      The Company establishes a liability for unpaid claims based on
      estimates of the ultimate cost of claims incurred, which is
      comprised of aggregate case basis estimates, average claim costs
      for reported claims, and estimates of incurred but not reported
      losses based on past experience. Policy and contract claims
      include a provision for both life and accident and health claims.
      Management believes the liabilities for unpaid claims are
      adequate to cover the ultimate liability; however, due to the
      underlying risks and the high degree of uncertainty associated
      with the determination of the liability for unpaid claims, the
      amounts which will ultimately be paid to settle these liabilities
      cannot be precisely determined and may vary from the estimated
      amount included in the consolidated balance sheets.

             DEFERRED POLICY ACQUISITION COSTS

      The costs of acquiring new business, which vary with and are
      primarily related to the production of new and renewal business,
      have been deferred to the extent that such costs are deemed
      recoverable from future profitability of the underlying business.
      Such costs include commissions, premium taxes, as well as certain
      other costs of policy issuance and underwriting.

      For limited payment and other nonparticipating traditional life
      insurance policies, the deferred policy acquisition costs are
      amortized, with interest, in proportion to the ratio of the
      expected annual premium revenue to the expected total premium
      revenue. Expected future premium revenue is estimated utilizing
      the same assumptions used for computing liabilities for future
      policy benefits for these policies.

      For participating life insurance, universal life, and annuity
      type contracts, the deferred policy acquisition costs are
      amortized over a period of not more than thirty years in relation
      to the present value of estimated gross profits arising from
      interest margin, cost of insurance, policy administration, and
      surrender charges.

                                                              (Continued)

                               11
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


      The range of average rates of assumed interest used by the
      Company's life insurance subsidiaries in estimated gross margins
      were as follows:

                                  1998           1997          1996
                                ----------    ----------    ----------

        Participating life           8.25%         8.17%         8.70%
        Universal life          6.25-7.50%    6.25-7.79%    6.00-8.20%
        Annuities               7.00-7.83%    7.00-7.84%         7.83%
                                ==========    ==========    ==========

      The estimates of expected gross margins are evaluated regularly
      and are revised if actual experience or other evidence indicates
      that revision is appropriate. Upon revision, total amortization
      recorded to date is adjusted by a charge or credit to current
      earnings. Deferred policy acquisition costs are adjusted for the
      impact on estimated gross margins as if the net unrealized gains
      and losses on securities had actually been realized.

             REINSURANCE AND OTHER CONTRACT DEPOSITS

      In the normal course of business, the Company seeks to limit its
      exposure to loss on any single insured by ceding risks to other
      insurance enterprises or reinsurers under various types of
      contracts including coinsurance and excess coverage. The
      Company's retention level per individual life ranges between $50
      thousand and $2.5 million depending on the entity writing the
      policy.

      The Company assumes and retrocedes financial reinsurance
      contracts which represent low mortality risk reinsurance
      treaties. These contracts are reported as deposits and are
      included in other contract deposits in the consolidated balance
      sheets. The amount of revenue reported on these contracts
      represents fees and the cost of insurance under the terms of the
      reinsurance agreement.

      Reinsurance activities are accounted for consistent with terms of
      the underlying contracts. Premiums ceded to other companies have
      been reported as a reduction of premiums. Amounts applicable to
      reinsurance ceded for future policy benefits and claim
      liabilities have been reported as assets for these items, and
      commissions and expense allowances received in connection with
      reinsurance ceded have been accounted for in income as earned.
      Reinsurance does not relieve the Company from its primary
      responsibility to meet claim obligations. The Company evaluates
      the financial conditions of its reinsurers annually.

             FEDERAL INCOME TAXES

      The Company and certain of its U.S. subsidiaries file
      consolidated federal income tax returns. Any acquired life
      insurance company is not included in the consolidated return
      until the acquired company has been a member of the group for
      five years.  Prior to satisfying the five-year requirement, the
      subsidiary files a separate federal return.  RGA Barbados, a
      subsidiary of RGA, also files a U.S. tax return.  The Company's
      foreign subsidiaries are taxed under applicable local statutes.
      No deferred tax liabilities have been recognized for the foreign
      subsidiaries per Accounting Principles Board (APB) Opinion 23,
      Accounting for Income Taxes - Special Areas.  The Company uses
      the asset and liability method to record deferred income taxes.

                                                              (Continued)

                               12
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

      Accordingly, deferred tax assets and liabilities are recognized
      for the future tax consequences attributable to differences
      between the financial statement carrying amounts of existing
      assets and liabilities and their respective tax bases, using
      enacted tax rates, expected to apply to taxable income in the
      years in which those temporary differences are expected to be
      recovered or settled.

             SEPARATE ACCOUNT BUSINESS

      The assets and liabilities of the separate account represent
      segregated funds administered and invested by the Company for
      purposes of funding variable life insurance and annuity contracts
      for the exclusive benefit of the contractholders. The Company
      charges the separate account for cost of insurance and
      administrative expense associated with a contract and charges
      related to early withdrawals by contractholders. The assets and
      liabilities of the separate account are carried at fair value.
      The Company's participation in the separate account (seed money)
      is carried at fair value in the separate account, and amounted to
      $19.9 million and $6.2 million at December 31, 1998 and 1997,
      respectively.

             FAIR VALUE OF FINANCIAL INSTRUMENTS

      Fair value estimates are made at a specific point in time, based
      on relevant market information and information about the
      financial instrument. These estimates do not reflect any premium
      or discount that could result from offering for sale at one time
      the Company's entire holdings of a particular financial
      instrument. Although fair value estimates are calculated using
      assumptions that management believes are appropriate, changes in
      assumptions could significantly affect the estimates and such
      estimates should be used with care. The following assumptions
      were used to estimate the fair value of each class of financial
      instrument for which it was practicable to estimate fair value:

             INVESTMENT SECURITIES:  Fixed maturities are valued using
             quoted market prices, if available. For securities not
             actively traded, fair values are estimated using values
             obtained from independent pricing services or in the case
             of private placements are estimated by discounting expected
             future cash flows using a current market rate applicable to
             the yield, credit quality, and maturity of investments. The
             fair values of equity securities are based on quoted market
             prices.

             MORTGAGE LOANS:  The fair values of mortgage loans are
             estimated using discounted cash flow analyses and interest
             rates currently being offered for similar loans to
             borrowers with similar credit ratings. Loans with similar
             characteristics are aggregated for purposes of the
             calculations.

             POLICY LOANS:  The fair value of policy loans approximates
             the carrying value. The majority of these loans are
             indexed, with a yield tied to a stated return.

             POLICYHOLDER ACCOUNT BALANCES ON INVESTMENT TYPE CONTRACTS:
             Fair values for the Company's liabilities under investment-
             type contracts are estimated using discounted cash flow
             calculations based on interest rates currently being
             offered for similar contracts with maturities consistent
             with those remaining for the contracts being valued. For
             contracts with no defined maturity date, the carrying value
             approximates fair value.

             SEPARATE ACCOUNT ASSETS AND LIABILITIES:  The separate
             account assets and liabilities are carried at fair value as
             determined by the market value of the underlying segregated
             investments.

                                                              (Continued)

                               13
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

             SHORT-TERM INVESTMENTS AND CASH AND CASH EQUIVALENTS:  The
             carrying amount approximates fair value.

             LONG-TERM DEBT AND NOTES PAYABLE:  The fair value of long-
             term debt and notes payable is estimated using discounted
             cash flow calculations based on interest rates currently
             being offered for similar instruments.

             Refer to note 3 for additional information on fair value of
             financial instruments.

             RECLASSIFICATION

      The Company has reclassified the presentation of certain prior
      period information to conform to the 1998 presentation.

(2)   INVESTMENTS

             FIXED MATURITIES AND EQUITY SECURITIES

      The amortized cost and estimated fair value of fixed maturities
      and equity securities at December 31, 1998 and 1997 are as
      follows (in thousands):

<TABLE>
<CAPTION>
                                                               1998
                                      --------------------------------------------------------
                                                          GROSS         GROSS       ESTIMATED
                                       AMORTIZED        UNREALIZED   UNREALIZED       FAIR
                                         COST             GAINS        LOSSES         VALUE
                                      -----------       ----------    --------      ----------
<S>                                   <C>                <C>          <C>           <C>
        Available for sale:
          U.S. Treasury securities    $    20,708            424            --          21,132
          Government agency
            obligations                 1,151,467        122,506       (11,176)      1,262,797
          Corporate securities          6,889,983        380,072      (164,130)      7,105,925
          Mortgage-backed securities    1,812,376         34,027       (38,553)      1,807,850
          Asset-backed securities         861,736         13,027        (4,184)        870,579
                                      -----------        -------      --------      ----------

              Total fixed maturities
                available for sale    $10,736,270        550,056      (218,043)     11,068,283
                                      ===========        =======      ========      ==========

        Equity securities             $    39,041          9,509            --          48,550
                                      ===========        =======      ========      ==========
</TABLE>

                                                              (Continued)

                               14
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


<TABLE>
<CAPTION>
                                                               1997
                                      --------------------------------------------------------
                                                          GROSS         GROSS       ESTIMATED
                                       AMORTIZED        UNREALIZED   UNREALIZED       FAIR
                                         COST             GAINS        LOSSES         VALUE
                                      -----------       ----------    --------      ----------
<S>                                    <C>               <C>          <C>           <C>
        Available for sale:
          U.S. Treasury securities     $   48,074          1,125          (27)         49,172
          Government agency
            obligations                   378,002         84,425       (1,281)        461,146

          Corporate securities          5,491,210        319,682      (45,790)      5,765,102
          Mortgage-backed securities    2,544,241         45,211      (17,832)      2,571,620
          Asset-backed securities         265,725          3,380         (626)        268,479
                                       ----------        -------      -------       ---------

              Total fixed maturities
                available for sale     $8,727,252        453,823      (65,556)      9,115,519
                                       ==========        =======      =======       =========
        Equity securities              $   23,558            653           --          24,211
                                       ==========        =======      =======       =========
</TABLE>

      The Company manages its credit risk associated with fixed
      maturities by diversifying its portfolio. At December 31, 1998,
      the Company held no corporate debt securities or foreign
      government debt securities of a single issuer which had a
      carrying value in excess of ten percent of stockholders' equity.

      The amortized cost and estimated fair value of fixed maturity
      investments at December 31, 1998 are shown by contractual
      maturity for all securities except, U.S. Government agencies
      mortgage-backed securities which are distributed by maturity year
      based on the Company's estimate of the rate of future prepayments
      of principal over the remaining lives of the securities (in
      thousands).  These estimates are developed using prepayment
      speeds provided in broker consensus data.  Such estimates are
      derived from prepayment speed experience at the interest rate
      levels projected for the applicable underlying collateral and can
      be expected to vary from actual experience.  Expected maturities
      may differ from contractual maturities because borrowers may have
      the right to call or prepay obligations with or without call or
      prepayment penalties.

<TABLE>
<CAPTION>
                                                                             ESTIMATED
                                                           AMORTIZED            FAIR
                                                             COST              VALUE
                                                          ----------         ---------
<S>                                                      <C>                <C>
        Due in one year or less                          $   201,267           201,307
        Due after one year through five years              1,794,887         1,821,575
        Due after five years through ten years             2,479,699         2,528,321
        Due after ten years through twenty years           4,448,041         4,709,231
        Mortgage-backed securities                         1,812,376         1,807,849
                                                         -----------        ----------

            Total                                        $10,736,270        11,068,283
                                                         ===========        ==========
</TABLE>

                                                              (Continued)

                               15
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

      The sources of net investment income follow (in thousands):

<TABLE>
<CAPTION>
                                           1998               1997              1996
                                        ----------           -------           -------
<S>                                     <C>                  <C>               <C>
        Fixed maturities                $  744,347           561,709           464,512
        Mortgage loans                     188,775           194,504           171,781
        Real estate                         25,682            34,164            39,062
        Equity securities                    1,195             1,317               755
        Policy loans                       152,247           148,316           133,511
        Short-term investments              22,380            16,600            13,979
        Other                               18,938            13,943             9,705
                                        ----------           -------           -------

        Investment revenue               1,153,564           970,553           833,305
        Investment expenses                (17,726)          (25,011)          (26,422)
                                        ----------           -------           -------
            Net investment income       $1,135,838           945,542           806,883
                                        ==========           =======           =======
</TABLE>

      Net realized gains (losses) from sales of investments consist of
      the following (in thousands):

<TABLE>
<CAPTION>
                                                  1998              1997              1996
                                                 -------           -------           -------
<S>                                              <C>               <C>               <C>
        Fixed maturities:
          Realized gains                         $19,027            23,969            27,928
          Realized losses                        (13,978)          (16,796)          (10,398)
        Equity securities:
          Realized gains                           1,985             1,835             6,146
          Realized losses                           (164)           (1,457)             (288)
        Other investments, net                     6,776            20,987             1,143
                                                 -------           -------           -------
            Net realized investment gains        $13,646            28,538            24,531
                                                 =======           =======           =======
</TABLE>

      Included in the net realized losses are permanent write-downs of
      approximately $5.5 million and $4.8 million during 1998 and 1997,
      respectively.

                                                              (Continued)

                               16
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


      A summary of the components of the net unrealized appreciation
      (depreciation) on invested assets carried at fair value is as follows
      (in thousands):

<TABLE>
<CAPTION>
                                                                               1998            1997
                                                                             ---------       --------
<S>                                                                          <C>              <C>
        Unrealized appreciation (depreciation):
          Fixed maturities available for sale                                $ 332,015        388,267
          Equity securities and short-term investments                           9,561            658
          Derivatives                                                           (5,261)           888
        Effect of unrealized appreciation (depreciation) on:
          Deferred policy acquisition costs                                   (155,713)      (142,187)
          Present value of future profits                                         (473)        (2,901)
        Deferred income taxes                                                  (69,135)       (91,779)
        Other                                                                   (2,931)           139
        Minority interest, net of taxes                                        (19,561)       (24,341)
                                                                             ---------       --------
            Net unrealized appreciation                                      $  88,502        128,744
                                                                             =========       ========
</TABLE>

      The Company has securities on deposit with various state
      insurance departments and regulatory authorities with an
      amortized cost of approximately $545.7 million and $346.6 million
      at December 31, 1998 and 1997, respectively.

             MORTGAGE LOANS

      The Company originates mortgage loans on income-producing
      properties, such as apartments, retail and office buildings,
      light warehouses, and light industrial facilities. Loan to value
      ratios at the time of loan approval are 75 percent or less. The
      Company minimizes risk through a thorough credit approval process
      and through geographic and property type diversification.

      The Company's mortgage loans were distributed as follows (in
      thousands):

<TABLE>
<CAPTION>
                                            1998                              1997
                                 ---------------------------       ---------------------------
                                  CARRYING          PERCENT         CARRYING          PERCENT
                                   VALUE            OF TOTAL         VALUE            OF TOTAL
                                 ----------         --------       ----------         --------
<S>                              <C>                 <C>           <C>                 <C>
        Arizona                  $  167,628            7.1%        $  156,453            7.2%
        California                  395,329           16.6            358,443           16.5
        Colorado                    228,096            9.6            228,797           10.5
        Florida                     171,608            7.2            153,174            7.0
        Georgia                     176,090            7.4            131,861            6.1
        Illinois                    162,168            6.8            155,184            7.1
        Maryland                    102,915            4.3            104,567            4.8
        Missouri                     93,528            3.9            100,815            4.6
        Texas                       197,375            8.3            191,619            8.8
        Washington                   99,615            4.2             84,140            3.9
        Other                       581,717           24.6            513,213           23.5
                                 ----------          -----         ----------          -----
            Subtotal              2,376,069          100.0%         2,178,266          100.0%
                                                     =====                             =====
        Valuation reserve           (38,527)                          (38,004)
                                 ----------                        ----------
            Total                $2,337,542                        $2,140,262
                                 ==========                        ==========
</TABLE>

                                                              (Continued)

                               17
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


<TABLE>
<CAPTION>
                                               1998                              1997
                                    ---------------------------       ---------------------------
                                     CARRYING          PERCENT         CARRYING          PERCENT
                                      VALUE            OF TOTAL         VALUE            OF TOTAL
                                    ----------         --------       ----------         --------
<S>                                 <C>                 <C>           <C>                 <C>
           Property type:
           Apartment                $   77,069            3.2%        $  101,038            4.6%
           Retail                      872,205           36.7            903,438           41.5
           Office building             747,824           31.5            622,185           28.6
           Industrial                  422,553           17.8            445,253           20.4
           Other commercial            256,418           10.8            106,352            4.9
                                    ----------          -----         ----------          -----

               Subtotal              2,376,069          100.0%         2,178,266          100.0%
                                                        =====                             =====

           Valuation reserve           (38,527)                          (38,004)
                                    ----------                        ----------

               Total                $2,337,542                        $2,140,262
                                    ==========                        ==========
</TABLE>

      An impaired loan is measured at the present value of expected
      future cash flows or, alternatively, the observable market price
      or the fair value of the collateral.

      Mortgage loans which have been non-income producing for the
      preceding twelve months were $20.1 million and $8.7 million at
      December 31, 1998 and 1997, respectively. At December 31, 1998
      and 1997, the recorded investment in mortgage loans that were
      considered impaired was $100.7 million and $119.7 million,
      respectively, with related allowances for credit losses of
      $12.6 million and $12.7 million, respectively. The average
      recorded investment in impaired loans during 1998 and 1997 was
      $110.2 million and $103.1 million, respectively.

      For the years ended December 31, 1998, 1997, and 1996, the
      Company recognized $6.8 million, $9.7 million, and $6.6 million,
      respectively, of interest income on those impaired loans, which
      included $7.0 million, $9.9 million, and $6.7 million,
      respectively, of interest income recognized using the cash basis
      method of income recognition.

      The Company has outstanding mortgage loan commitments as of
      December 31, 1998 totaling $429.5 million.

             SECURITIES LENDING

      The Company participates in a securities lending program.  The
      amount on loan at December 31, 1998 was $122.5 million and was
      appropriately collateralized.

                                                              (Continued)

                               18
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

             DERIVATIVES

      The Company has a variety of reasons to use derivative
      instruments, such as to attempt to protect the Company against
      possible changes in the market value of its portfolio as a result
      of interest rate changes and to manage the portfolio's effective
      yield, maturity, and duration.  The Company does not invest in
      derivatives for speculative purposes.  Upon disposition, a
      realized gain or loss is recognized accordingly, except when
      exercising an option contract or taking delivery of a security
      underlying a futures contract.  In these instances, the
      recognition of gain or loss is postponed until the disposal of
      the security underlying the option of futures contract.

      Summarized below are the specific types of derivative instruments
      used by the Company.

              INTEREST RATE SWAPS:  The Company manages interest rate
              risk on certain contracts, primarily through the
              utilization of interest rate swaps.  Under interest rate
              swaps, the Company agrees with counterparties to exchange,
              at specified intervals, the payments between floating and
              fixed-rate interest amounts calculated by reference to
              notional amounts.  Net interest payments are recognized
              within net investment income in the consolidated statements
              of operations.

              At December 31, 1998, the Company had 35 outstanding
              interest rate swap agreements which expire at various dates
              through 2025.  Under 15 of the agreements, the Company
              receives a fixed rate ranging from 5.79 percent to 7.57
              percent on a notional amount of $80.5 million and pays a
              floating rate based on London Interbank Offered Rate
              (LIBOR).  Under 19 outstanding interest rate swap
              agreements, the Company receives a floating rate based on
              LIBOR on a notional amount of $116.0 million and pays a
              fixed rate ranging from 3.13 percent to 8.56 percent.  On
              the remaining swap agreement, the Company receives a
              floating rate based on LIBOR on a notional amount of $5
              million and pays a floating rate based on LIBOR.  The
              estimated fair value of the agreements at December 31, 1998
              was a net loss of approximately $4.7 million, which is
              recognized in accumulated other comprehensive income.

              At December 31, 1997, the Company had 30 outstanding
              interest rate swap agreements which expire at various dates
              through 2025.  Under 13 of the agreements, the Company
              receives a fixed rate ranging from 5.98 percent to 7.51
              percent on a notional amount of  $68.6 million and pays a
              floating rate based on LIBOR. Under the remaining 17
              outstanding interest rate swap agreements, the Company
              receives a floating rate based on LIBOR on a notional
              amount of $93 million and pays a fixed rate ranging from
              6.50 percent to 8.56 percent. The estimated fair value of
              the agreements was a net loss of approximately $2.5
              million, which is not recognized in accumulated other
              comprehensive income.

              CURRENCY SWAPS AND CROSS CURRENCY SWAPS:  Under foreign
              currency swaps, the Company agrees with other parties to
              exchange at specified intervals, the difference between two
              currencies on an exchange rate basis the interest amounts
              calculated by reference to an agreed notional principal
              amount.  Under cross currency swaps, the Company swaps the
              difference between two currencies and between floating and
              fixed-rate interest amounts calculated by reference to
              notional amounts.  The Company uses this technique for
              foreign denominated assets to match dollar denominated
              liabilities of various fixed income products.  Net interest
              payments are recognized within net investment income in the
              consolidated statements of operations.

                                                               (Continued)

                               19
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

              The Company had one outstanding currency swap agreement and
              five outstanding cross currency swaps at December 31, 1998
              and 1997, respectively, which expire at various dates
              through 2016.  The notional amount was $34.2  million and
              $34.3 million, respectively.  The 1998 estimated fair value
              of the agreements was a net loss of  $5.5 million and is
              recognized in accumulated other comprehensive income and
              the 1997 net loss of  $1.3 million is not recognized in
              accumulated other comprehensive income.

              TOTAL RETURN SWAP:  The Company uses the total return swap
              to construct a structured product that resembles an equity
              linked note.  The total return swap is used to obtain the
              equity participation.  The Company agrees with other
              parties to pay at specified intervals, floating-rate
              interest amounts calculated by reference to an agreed
              notional principal amount.  In return the Company receives
              equity participation, which is calculated by reference to
              an agreed equity market index and a notional principal
              amount.  If the amount is positive at the termination date,
              the Company receives such amount.  If the amount is
              negative at the termination date, the Company pays out such
              amount to the counterparty.

              At December 31, 1998, the Company had one outstanding total
              return swap which expires in 2028.  The notional amount was
              $14.0 million and the estimated fair value of the agreement
              was a net profit of $1.9 million, which is recognized in
              accumulated other comprehensive income. At December 31,
              1997, the Company held no return swap agreements.

              FUTURES:  A futures contract is an agreement involving the
              delivery of a particular asset on a specified future date
              at an agreed upon price.  The Company generally invests in
              futures on U.S. Treasury Bonds, U.S. Treasury Notes, and
              the S&P 500 Index and typically closes the contract prior
              to the delivery date.  These contracts are generally used
              to manage the portfolio's effective maturity and duration.
              The 1998 unrealized gain was recognized in accumulated
              other comprehensive income and the 1997 unrealized loss was
              not recognized in accumulated other comprehensive income.

              Futures contracts outstanding as of December 31, 1998 and
              1997 were as follows (in thousands):

<TABLE>
<CAPTION>
                               Net sold       Notional        Fair         Unrealized
                               position        amount         value        gain (loss)
        ------------------------------------------------------------------------------
<S>                              <C>          <C>            <C>              <C>
        December 31, 1998        (259)        $33,117        $32,923           $194

        December 31, 1997        (510)        $51,000        $60,940          ($907)
</TABLE>

              CALL OPTIONS:  Currently, the Company buys both exchange-
              traded and over-the-counter options based on the S&P 500
              Index to support equity indexed annuity contracts.  An
              equity indexed annuity is a product under which
              contractholders receive a minimum guaranteed value and also
              participate in stock market appreciation.  Options are
              marked to market value quarterly.  The change in value is
              reflected in investment income to assure proper matching of
              the hedge to changes in the liability.  At December 31,
              1998 and 1997, the amounts involved were not material.

                                                              (Continued)

                               20
<PAGE>
<PAGE>

                 GENERAL AMERICAN LIFE INSURANCE COMPANY
                           AND SUBSIDIARIES

                Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

              PUT OPTION:  The Company uses a put option to construct a
              structured product that resembles an equity linked note.  A
              put option is used to hedge equity exposure that is
              associated with the total return swap.  The put option
              helps protect the downside exposure.  A lump sum payment is
              made at the outset.  The notional amount of the put is
              based on the notional amount associated with the total
              return swap.  The termination date for the put option is
              set to match the termination date of the total return swap.
              At December 31, 1998 and 1997, the amounts involved were
              not material.

              The Company is exposed to credit related risk in the event
              of nonperformance by counterparties to financial
              instruments but does not expect any counterparties to fail
              to meet their obligations.  Where appropriate, master
              netting agreements are arranged and collateral is obtained
              in the form of rights to securities to lower the Company's
              exposure to credit risk.  It is the Company's policy to
              deal only with highly rated companies.  At December 31,
              1998 and 1997, there were not any significant
              concentrations with counterparties.

(3)   FAIR VALUE OF FINANCIAL INSTRUMENTS

      The following table presents the carrying amounts and estimated
      fair values of the Company's financial instruments at
      December 31, 1998 and 1997. SFAS 107, Disclosures about the Fair
      Value of Financial Instruments, defines fair value of a financial
      instrument as the amount at which the instrument could be
      exchanged in a current transaction between willing parties (in
      thousands):

<TABLE>
<CAPTION>
                                                          1998                           1997
                                               --------------------------      ------------------------
                                                CARRYING       ESTIMATED        CARRYING      ESTIMATED
                                                  VALUE        FAIR VALUE        VALUE       FAIR VALUE
                                               -----------     ----------      ---------     ----------
<S>                                            <C>             <C>             <C>            <C>
        Assets:
          Fixed maturities                     $11,068,283     11,068,283      9,115,519      9,115,519
          Mortgage loans                         2,337,542      2,472,485      2,140,262      2,333,895
          Policy loans                           2,151,028      2,151,028      2,073,152      2,073,152
          Short-term investments                   195,346        195,346        190,374        190,374
          Other invested assets                    457,645        457,645        243,921        243,921
          Separate account assets                5,287,456      5,287,456      4,118,860      4,118,860

        Liabilities:
          Policyholder account
            balances related to
            investment contracts               $ 6,675,466      6,781,053      6,696,690      6,608,068
          Long-term debt and
            notes payable                          221,850        235,367        214,477        222,419

          Separate account liabilities           5,267,553      5,267,553      4,112,666      4,112,666
</TABLE>

                                                              (Continued)

                               21
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

(4)  REINSURANCE

     The Company is a reinsurer to the life and health industry. The
     effect of reinsurance on premiums and other considerations is as
     follows (in thousands):

<TABLE>
<CAPTION>
                                             1998        1997         1996
                                          ----------   ---------    ---------
<S>                                       <C>          <C>          <C>
     Direct                               $1,253,409   1,120,169    1,097,340
     Assumed                               1,422,262     996,861      827,171
     Ceded                                  (431,515)   (348,861)    (301,283)
                                          ----------   ---------    ---------

          Net insurance premiums and
            other considerations          $2,244,156   1,768,169    1,623,228
                                          ==========   =========    =========
</TABLE>

     Reinsurance assumed represents approximately $313.7 billion,
     $212.5 billion, and $160.0 billion of insurance in force at
     December 31, 1998, 1997, and 1996, respectively. The amount of
     ceded insurance in force, including retrocession, was
     $31.4 billion, $50.4 billion, and $53.2 billion, for 1998, 1997,
     and 1996, respectively.

(5)  FEDERAL INCOME TAXES

     Income tax expense (benefit) attributable to income from
     operations consists of the following (in thousands):

<TABLE>
<CAPTION>
                                                     1998            1997           1996
                                                    -------         ------         ------
<S>                                                 <C>             <C>            <C>
     Current income tax expense                     $35,226         65,778         45,902
     Deferred income tax expense (benefit)           18,351           (113)        13,992
                                                    -------         ------         ------
       Provision for income taxes                   $53,577         65,665         59,894
                                                    =======         ======         ======
</TABLE>

                                                            (Continued)

                                 22
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

     Income tax expense attributable to income from operations
     differed from the amounts computed by applying the U.S. federal
     income tax rate of 35 percent to pre-tax income as a result of
     the following (in thousands):

<TABLE>
<CAPTION>
                                                              1998           1997          1996
                                                            --------        ------        ------
<S>                                                         <C>             <C>           <C>
     Computed "expected" tax expense                        $ 69,952        64,763        57,055
     Increase (decrease) in income tax resulting from:
       Surplus tax on mutual life insurance companies         (7,505)        5,325         4,777
       Foreign tax rate in excess of U.S. tax rate               752           556           941
       Tax preferred investment income                       (10,949)       (6,583)       (7,318)
       State tax net of federal benefit                        1,660           830           971
       Corporate owned life insurance                         (3,575)           --            --
       Foreign tax credit                                     (1,261)         (594)           --
       Goodwill amortization                                   1,471           956           895
       Difference in book vs. tax basis in
         domestic subsidiaries                                 2,751         2,166         2,230
           Other, net                                            281        (1,754)          343
                                                            --------        ------        ------

             Provision for income taxes                     $ 53,577        65,665        59,894
                                                            ========        ======        ======
</TABLE>

     Total income taxes were allocated as follows (in thousands):

<TABLE>
<CAPTION>
                                                              1998          1997          1996
                                                            --------       -------       -------
<S>                                                         <C>            <C>           <C>
     Provision for income taxes                             $ 53,577        65,665        59,894
     Income tax from stockholder equity:
       Unrealized investment gain (loss) recognized
         for financial reporting purposes                    (22,619)       55,923       (24,612)
       Foreign currency translation                           (9,370)      (12,122)           --
       Other                                                  (1,357)         (437)       (1,023)
                                                            --------       -------       -------
             Total income tax                               $ 20,231       109,029        34,259
                                                            ========       =======       =======
</TABLE>

                                                            (Continued)

                                 23
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

     The tax effects of temporary differences that give rise to
     significant portions of deferred tax assets and liabilities at
     December 31, 1998 and 1997 are presented below (in thousands):

<TABLE>
<CAPTION>
                                                                                  1998              1997
                                                                                --------           -------
<S>                                                                             <C>                <C>
     Deferred tax assets:
       Reserve for future policy benefits                                       $151,132           149,496
       Deferred acquisition costs capitalized for tax                            128,830           110,418
       Difference in basis of post retirement benefits                             7,747             6,846
       Net operating loss                                                         46,609            40,915
       Other, net                                                                127,891           132,354
                                                                                --------           -------

         Gross deferred tax assets                                               462,209           440,029

       Less valuation allowance                                                    1,338             1,150
                                                                                --------           -------

         Total deferred tax asset after valuation allowance                     $460,871           438,879
                                                                                ========           =======
     Deferred tax liabilities:
       Unrealized gain on investments                                           $ 96,554           123,971
       Deferred acquisition costs capitalized for financial reporting            274,483           282,714
       Other, net                                                                165,263           121,240
                                                                                --------           -------

         Total deferred tax liabilities                                          536,300           527,925
                                                                                --------           -------

         Net deferred tax liability                                             $ 75,429            89,046
                                                                                ========           =======
</TABLE>

     The Company has not recognized a deferred tax liability for the
     undistributed earnings of its wholly owned domestic and foreign
     subsidiaries because the Company currently does not expect those
     unremitted earnings to become taxable to the Company in the
     foreseeable future. This is because the unremitted earnings will not
     be repatriated in the foreseeable future, or because those
     unremitted earnings that may be repatriated will not be taxable
     through the application of tax planning strategies that management
     would utilize.

     As of December 31, 1998, the Company has provided for a 100 percent
     valuation allowance against the deferred tax asset related to the
     net operating losses of RGA's Australian, Argentine, and UK
     subsidiaries and NaviSys Insurance Solution's Mexican subsidiary.
     The Company has provided for a 50 percent valuation allowance
     against the deferred tax asset related to International Underwriting
     Services' net operating losses which were incurred in separate
     return limitation years. Based on income projections for future
     years, a 50 percent valuation allowance is appropriate. Management
     believes that it is more likely than not that results of future
     operations will generate sufficient taxable income to realize the
     remaining deferred tax assets.

                                                            (Continued)

                                 24
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

     At December 31, 1998, the Company had capital loss carryforwards of
     $0.2 million. During 1998, 1997, and 1996 the Company paid income
     taxes totaling approximately $59.6 million, $70.8 million, and $20.7
     million, respectively. At December 31, 1998, the Company's
     subsidiaries had recognized deferred tax assets associated with net
     operating loss carryforwards of approximately $131.8 million. The
     net operating loss and capital losses are expected to be utilized
     during the period allowed for carryforwards.

(6)  DEFERRED POLICY ACQUISITION COSTS

     A summary of the policy acquisition costs deferred and amortized is
     as follows (in thousands):

<TABLE>
<CAPTION>
                                                         1998           1997          1996
                                                       ---------      --------      --------
<S>                                                    <C>            <C>           <C>
     Balance at beginning of year                      $ 695,253       652,251       526,939
     Transfer of present value of future profits              --        19,279            --
     Prior year adjustment due to change in
       reserving method                                     (225)           --            --
     Policy acquisition costs deferred                   332,899       267,008       206,790
     Policy acquisition costs amortized                 (280,061)     (211,979)     (182,038)
     Interest credited                                    39,421        40,843        38,944
     Deferred policy acquisition costs relating to
       change in unrealized (gain) loss on
       investments available for sale                    (13,525)      (72,149)       61,616
                                                       ---------      --------      --------

     Balance at end of year                            $ 773,762       695,253       652,251
                                                       =========      ========      ========
</TABLE>

(7)  ASSOCIATE BENEFIT PLANS AND POSTRETIREMENT BENEFITS

     The Company has a defined benefit plan covering substantially all
     associates. The benefits are based on years of service and each
     associate's compensation level. The Company's funding policy is
     to contribute annually the maximum amount deductible for federal
     income tax purposes. Contributions provide for benefits
     attributed to service to date and for those expected to be earned
     in the future.

     The Company also has several non-qualified, defined benefit, and
     defined contribution plans for directors and management
     associates. The plans are unfunded and are deductible for federal
     income tax purposes when the benefits are paid.

     In addition to pension benefits, the Company provides certain
     health care and life insurance benefits for retired employees.
     Substantially all employees may become eligible for these
     benefits if they reach retirement age while working for the
     Company. Alternatively, retirees may elect certain prepaid health
     care benefit plans.

     The Company uses the accrual method to account for the costs of
     its retiree plans and amortizes its transition obligation for
     retirees and fully eligible or vested employees over 20 years.
     The unamortized transition obligation was $14.4 million and $16.8
     million at December 31, 1998 and 1997, respectively.

                                                            (Continued)

                                 25
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


     The Board of Directors has adopted an associate incentive plan
     applicable to full-time salaried associates with at least one
     year of service. Contributions to the plan are determined
     annually by the Board of Directors and are based upon salaries of
     eligible associates. Full vesting occurs after five years of
     continuous service. The Company's contribution to the plan was
     $10.4 million, $10.4 million, and $8.8 million for 1998, 1997,
     and 1996 respectively.

     The following tables summarize the Company's associate benefit
     plans and postretirement benefits (in thousands):

<TABLE>
<CAPTION>
                                                             PENSION BENEFITS               OTHER BENEFITS
                                                         -----------------------         ---------------------
                                                           1998           1997            1998           1997
                                                         --------        -------         ------         ------
<S>                                                      <C>             <C>             <C>            <C>
     Change in benefit obligation:
       Benefit obligation at beginning of year           $129,831        122,551         37,678         41,518
       Service cost                                         5,775          5,915          1,705          1,665
       Interest cost                                        9,269          8,597          2,898          2,488
       Participant contributions                               --             --            216            207
       Plan amendments                                       (423)          (547)        (1,317)            --
       Curtailments                                            --         (1,046)            --             --
       Benefits paid                                       (6,640)        (5,903)        (1,438)        (1,577)
       Actuarial (gain) or loss                            11,281            264          5,962         (6,623)
                                                         --------        -------         ------         ------
       Benefit obligation at end of year                 $149,093        129,831         45,704         37,678
                                                         ========        =======         ======         ======
     Change in plan assets:
       Fair value of plan assets at beginning
         of year                                          150,498        125,742             --             --
       Actual return on plan assets                        29,183         29,043             --             --
       Employer contributions                               1,703          1,616             --             --
       Benefits paid                                       (6,640)        (5,903)            --             --
                                                         --------        -------         ------         ------
       Fair value of plan assets at
         end of year                                     $174,744        150,498             --             --
                                                         ========        =======         ======         ======
</TABLE>

                                                            (Continued)

                                 26
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

<TABLE>
<CAPTION>
                                                               PENSION BENEFITS                    OTHER BENEFITS
                                                       --------------------------------    -------------------------------
                                                         1998        1997        1996       1998        1997       1996
                                                       --------     -------     -------    -------     -------     -------
<S>                                                    <C>          <C>         <C>        <C>         <C>         <C>
     Reconciliation of funded status:
       Funded status                                   $ 25,652      20,668       3,192    (45,704)    (37,678)    (41,518)
       Unrecognized actuarial
         (gain) or loss                                 (14,455)     (8,237)      9,826     (1,862)     (7,824)     (1,361)
       Unrecognized transition
         obligation                                         298       1,098       1,396     14,404      16,766      17,884
       Unrecognized prior
         service cost                                      (780)     (2,184)       (580)        --          --          --
                                                       --------     -------     -------    -------     -------     -------
       Net amount recognized
         at end of year                                  10,715      11,345      13,834    (33,162)    (28,736)    (24,995)
                                                       --------     -------     -------    -------     -------     -------
     Amounts recognized in the
       statement of financial
       position consist of:
         Prepaid benefit cost                            37,921      35,850      35,335         --          --          --
         Accrued benefit liability                      (32,208)    (28,183)    (26,377)   (33,162)    (28,736)    (24,995)
         Intangible asset                                   869         868       1,608         --          --          --
         Accumulated other
           comprehensive loss                             4,133       2,810       3,268         --          --          --
                                                       --------     -------     -------    -------     -------     -------
         Net amount recognized
           at end of year                                10,715      11,345      13,834    (33,162)    (28,736)    (24,995)
                                                       --------     -------     -------    -------     -------     -------
     Other comprehensive loss
       (income) attributable to
       change in additional
       minimum liability recognition                   $  1,324        (458)        (84)        --          --          --
                                                       ========     =======     =======    =======     =======     =======
</TABLE>

                                                            (Continued)

                                 27
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

<TABLE>
<CAPTION>
                                                PENSION BENEFITS               OTHER BENEFITS
                                          ----------------------------    --------------------------
                                            1998      1997       1996      1998      1997      1996
                                          --------   -------   -------    ------    ------    ------
<S>                                       <C>        <C>       <C>        <C>       <C>       <C>
     Additional year-end information
       for plans with benefit obliga-
       tions in excess of plan assets:
         Benefit obligation               $ 36,587    32,239    29,077    45,704    37,378    41,518
         Fair value of plan assets              81        41        --        --        --        --
     Additional year-end information
       for pension plans with accumu-
       lated benefit obligations in
       excess of plan assets:
         Projected benefit obligation       36,587    32,239    29,077        --        --        --
         Accumulated benefit
           obligation                       32,078    28,019    26,241        --        --        --
         Fair value of plan assets              81        41        --        --        --        --
     Components of net periodic
       benefit cost:
         Service cost                        5,775     5,915     5,421     1,705     1,665     1,921
         Interest cost                       9,269     8,597     8,047     2,898     2,488     2,729
         Expected return on plan
           assets                          (13,261)  (11,108)  (10,447)       --        --        --
         Amortization of prior
           service cost                        (71)      (51)       58        --        --        --
         Amortization of transitional
           obligation                           98       298       338     1,045     1,118     1,118
         Recognized actuarial (gain)
           or loss                             432       455       491        --      (160)       --
                                          --------   -------   -------    ------    ------    ------
         Net periodic benefit cost        $  2,242     4,106     3,908     5,648     5,111     5,768
                                          ========   =======   =======    ======    ======    ======

      Additional loss recognized due to:
        Curtailment                             91        --        --        --        --        --
        Settlement                              --        --       192        --        --        --

      Weighted average assumptions
        as of December 31:
          Discount rate                       6.75%     7.25%     7.25%     6.75%     7.25%     7.25%
          Expected long-term rate of
            return on plan assets             9.00%     9.00%     9.25%       --        --        --
          Rate of compensation
            increase (qualified plan)         4.20%     4.20%     4.50%       --        --        --
                                          ========   =======   =======    ======    ======    ======
</TABLE>
                                                            (Continued)

                                 28
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


     ASSUMED HEALTH CARE COST TREND: For measurement purposes, a 7.5
     percent annual rate of increase in the per capita cost of covered
     health care benefits was assumed for 1998.  The rate assumed to
     decrease gradually to 5 percent for 2000 and remain at that level
     thereafter.

     Assumed health care cost trend rates have a significant effect on
     the amounts reported for the health care plan.  A one percentage
     point change in assumed health care cost trend rates would have
     the following effects:

<TABLE>
<CAPTION>
                                                   ONE PERCENTAGE         ONE PERCENTAGE
                                                   POINT INCREASE         POINT DECREASE
                                                   --------------         --------------
<S>                                                    <C>                   <C>
     Effect on total service and interest cost
       components for 1998                             $  834                  (643)

     Effect on end of year 1998 postretirement
       benefit obligation                              $6,608                (5,272)
</TABLE>

(8)  DEBT

     The Company's long-term debt and notes payable consist of the
     following (in millions):

<TABLE>
<CAPTION>
                                                                           FACE VALUE AT
                                                                            DECEMBER 31,
                                                                          ----------------
              DESCRIPTION                    RATE         MATURITY        1998        1997
              -----------                    ----         --------        ----        ----
<S>                                          <C>        <C>              <C>          <C>
     Long-term debt:
       General American surplus note         7.625%     January 2024     $107.0       107.0
       RGA senior note                       7.250%       April 2006      100.0       100.0

     Notes payable:
       RGA Australia Hldgs.                  5.180%       April 1999        8.9         7.8
                                             =====      ============     ------       -----

         Total long-term debt and
           notes payable                                                 $215.9       214.8
                                                                         ======       =====
</TABLE>

     The difference between the face value of debt and the carrying
     value per the consolidated balance sheets is unamortized
     discount.

     The Company's surplus note pays interest on January 15 and
     July 15 of each year. The note is not subject to redemption
     prior to maturity. Payment of principal and interest on the note
     may be made only with the approval of the Missouri Director of
     Insurance.

                                                            (Continued)

                                 29
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


     The RGA senior note pays interest semiannually on April 1 and
     October 1. The ability of RGA to make debt principal and
     interest payments as well as make dividend payments to
     shareholders is ultimately dependent on the earnings and surplus
     of its subsidiaries and the investment earnings on the
     undeployed debt proceeds. The transfer of funds from the
     insurance subsidiaries to RGA is subject to applicable insurance
     laws and regulations.

     Principal repayments are due in April 1999 and are expected to
     be renewed under the terms of the line of credit. This agreement
     contains various restrictive covenants which primarily pertain
     to limitations on the quality and types of investments, minimum
     requirements of net worth, and minimum rating requirements.

     Interest paid on debt during 1998, 1997, and 1996 amounted to
     $17.0 million, $20.0 million, and $19.9 million, respectively.

     As of December 31, 1998, the Company was in compliance with all
     covenants under its debt agreements.

(9)  COMPREHENSIVE INCOME

     In June 1997, the Financial Accounting Standards Board issued
     SFAS No. 130, Reporting Comprehensive Income, effective for
     years beginning after December 15, 1997. SFAS 130 establishes
     standards for reporting and display of comprehensive income but
     does not affect results of operations. Effective January 1,
     1998, the Company adopted SFAS 130. The components of
     comprehensive income, other than net income, are as follows (in
     thousands):

<TABLE>
<CAPTION>
                                                                 1998
                                                 -------------------------------------
                                                  BEFORE-         TAX          NET-OF-
                                                   TAX         (EXPENSE)        TAX
                                                  AMOUNT        BENEFIT        AMOUNT
                                                 --------       -------       --------
<S>                                              <C>            <C>           <C>
     Foreign currency translation adjustments    $(20,597)       7,200        (13,397)
     Unrealized gains (losses) on securities:
       Unrealized holding gains (losses)
         arising during period                    (56,603)      19,327        (37,276)
       Less reclassification adjustment
         for gains (losses) realized in
         net income                                 4,654       (1,688)         2,966
                                                 --------       ------        -------
           Net unrealized gains (losses)
             on securities                        (61,257)      21,015        (40,242)
     Minimum benefit liability                       (335)          --           (335)
                                                 --------       ------        -------
           Total other comprehensive
             (loss) income                       $(82,189)      28,215        (53,974)
                                                 ========       ======        =======
</TABLE>

                                                            (Continued)

                                 30
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

<TABLE>
<CAPTION>
                                                                     1997
                                                     -------------------------------------
                                                      BEFORE-         TAX          NET-OF-
                                                       TAX         (EXPENSE)        TAX
                                                      AMOUNT        BENEFIT        AMOUNT
                                                     --------       -------       --------
<S>                                                  <C>            <C>            <C>

     Foreign currency translation adjustments        $(14,254)      10,583         (3,671)

     Unrealized gains (losses) on securities:
       Unrealized holding gains (losses)
         arising during period                        132,329      (49,140)        83,189
       Less reclassification adjustment for gains
         (losses) realized in net income                7,432       (2,620)         4,812
                                                     --------      -------         ------
            Net unrealized gains (losses)
              on securities                           124,897      (46,520)        78,377
     Minimum benefit liability                            877           --            877
                                                     --------      -------         ------
            Total other comprehensive
              (loss) income                          $111,520      (35,937)        75,583
                                                     ========      =======         ======

<CAPTION>
                                                                     1996
                                                     -------------------------------------
                                                      BEFORE-         TAX          NET-OF-
                                                       TAX         (EXPENSE)        TAX
                                                      AMOUNT        BENEFIT        AMOUNT
                                                     --------       -------       --------
<S>                                                  <C>            <C>           <C>
     Foreign currency translation adjustments        $ (1,543)          --         (1,543)
     Unrealized gains (losses) on securities:
       Unrealized holding gains (losses)
         arising during period                        (48,303)      16,081        (32,222)

       Less reclassification adjustment for gains
         (losses) realized in net income               23,033       (8,167)        14,866
                                                     --------       ------        -------
            Net unrealized gains (losses)
              on securities                           (71,336)      24,248        (47,088)

     Minimum benefit liability                         (1,074)          --         (1,074)
                                                     --------       ------        -------

            Total other comprehensive
              (loss) income                          $(73,953)      24,248        (49,705)
                                                     ========       ======        =======
</TABLE>

     The following schedule reflects the change in net accumulated
     other comprehensive (loss) income for the periods ending
     December 31, 1998 and 1997 (in thousands):

<TABLE>
<CAPTION>
                                                      BALANCE      CURRENT     BALANCE
                                                       AS OF        PERIOD      AS OF
                                                      12/31/97      CHANGE     12/31/98
                                                      --------     -------     --------
<S>                                                   <C>          <C>         <C>
     Foreign currency translation adjustments         $(19,481)    (13,397)    (32,878)
     Unrealized gains (losses) on securities           128,744     (40,242)     88,502
     Minimum benefit liability                          (2,380)       (335)     (2,715)
                                                      --------     -------     -------

            Total accumulated other comprehensive
              (loss) income                           $106,883     (53,974)     52,909
                                                      ========     =======      ======
</TABLE>


                                                            (Continued)

                                 31
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997

<TABLE>
<CAPTION>
                                                      BALANCE      CURRENT     BALANCE
                                                       AS OF       PERIOD       AS OF
                                                     12/31/96      CHANGE     12/31/97
                                                     --------      ------     --------
<S>                                                  <C>           <C>        <C>
     Foreign currency translation adjustments        $(15,810)     (3,671)    (19,481)
     Unrealized gains on securities                    50,367      78,377     128,744
     Minimum benefit liability                         (3,257)        877      (2,380)
                                                     --------      ------     -------

            Total accumulated other comprehensive
              income                                 $ 31,300      75,583     106,883
                                                     ========      ======     =======
</TABLE>

(10) REGULATORY MATTERS

     The Company, as well as its insurance subsidiaries, are subject
     to financial statement filing requirements in their respective
     states of domicile, as well as the states in which they transact
     business. Such financial statements, generally referred to as
     statutory financial statements, are prepared on a basis of
     accounting which varies in some respects from GAAP.  Statutory
     accounting practices include: (1) charging of policy acquisition
     costs to income as incurred; (2) establishment of a liability
     for future policy benefits computed using required valuation
     standards; (3) nonprovision of deferred federal income taxes
     resulting from temporary differences between financial reporting
     and tax bases of assets and liabilities; (4) recognition of
     statutory liabilities for asset impairments and yield
     stabilization on fixed maturity dispositions prior to maturity
     with asset valuation reserves based on statutorily determined
     formulas; and (5) valuation of investments in bonds at amortized
     cost.

     Combined net income and policyholders' surplus of the Company
     and its insurance subsidiaries, for the years ended and at
     December 31, 1998, 1997, and 1996, as determined in accordance
     with statutory accounting practices, are as follows (in
     thousands):

<TABLE>
<CAPTION>
                                                   1998         1997        1996
                                                ----------     -------     -------
<S>                                             <C>            <C>         <C>
     Net income                                 $   60,793      39,737      18,464
     Policyholders' surplus                      1,147,411     844,110     636,260
                                                ==========     =======     =======
</TABLE>

     Under Risk-Based Capital (RBC) requirements, the Company and its
     insurance subsidiaries are required to measure their solvency
     against certain parameters. As of December 31, 1998, the Company
     and its insurance subsidiaries exceeded the established RBC
     minimums. In addition, the Company and its insurance
     subsidiaries exceeded the minimum statutory capital and surplus
     requirements of their respective states of domicile.

     The Company's life insurance subsidiaries are subject to
     limitations on the payment of dividends to the Company.
     Generally, dividends during any year may not be paid without
     prior regulatory approval, in excess of the lessor of (and with
     respect to life and health subsidiaries in Missouri, in excess
     of the greater of): (a) ten percent of the insurance
     subsidiaries' statutory surplus as of the preceding December 31
     or (b) the insurance subsidiaries' statutory gain from
     operations for the preceding year.


                                                            (Continued)

                                 32
<PAGE>
<PAGE>

                   GENERAL AMERICAN LIFE INSURANCE COMPANY
                             AND SUBSIDIARIES

                  Notes to Consolidated Financial Statements

                       December 31, 1998 and 1997


(11) PARTICIPATING POLICIES AND DIVIDENDS TO POLICYHOLDERS

     Over 22.8 percent and 27.5 percent of the Company's business in
     force relates to participating policies as of December 31, 1998
     and 1997, respectively. These participating policies allow the
     policyholders to receive dividends based on actual interest,
     mortality, and expense experience for the related policies.
     These dividends are distributed to the policyholders through an
     annual dividend, using current dividend scales which are
     approved by the Board of Directors.

(12) CONTINGENT LIABILITIES

     The Company was named as a defendant in a lawsuit that was filed
     in 1996 in Arizona State Court.  The lawsuit claimed benefits
     under a disability policy and damages for bad faith termination
     of such benefits.  In November 1998, the jury entered a verdict
     against the Company, awarding the plaintiff approximately $59
     million in damages, including $58 million in punitive damages.
     In January 1999, the Company filed a motion for judgment
     notwithstanding the verdict, a motion for a new trial, and a
     request for reduction of the punitive damages awarded.  The
     Company intends to press vigorously for the Court to eliminate
     the bad faith claim, reduce the punitive damage award, grant a
     new trial, and vigorously appeal the verdict if it is allowed to
     stand.

     The Company was named as defendant in the following purported
     class action lawsuits:  Chain v. General American Life Insurance
     Company (filed in the U.S. District Court for the Northern
     District of Mississippi in 1996); Newburg Trust v. General
     American Life Insurance Company (filed in the U.S. District
     Court for the District of Massachusetts in 1996); and Ludwig,
     Sippil, D'Allesandro and Cunningham v. General American Life
     Insurance Company (filed in the U.S. District Court for the
     Southern District of Illinois in 1997).  These lawsuits allege
     that the Company engaged in deceptive sales practices in
     connection with the sale of certain life insurance policies.
     None of these lawsuits has been certified as a class action.
     Although the claims asserted in each lawsuit are not identical,
     the plaintiffs seek unspecified actual and punitive damages
     under similar claims, including breach of contract, fraud,
     intentional or negligent misrepresentation, breach of fiduciary
     duty, and unjust enrichment.  The Company filed a motion to
     dismiss all of the claims in each of the lawsuits.
     The Court in each of these lawsuits has dismissed certain of the
     plaintiffs' claims while allowing others to proceed.  These
     three cases have been consolidated with one individual case in
     the U.S. District Court for the Eastern District of Missouri.
     The Company intends to oppose these lawsuits vigorously.

     In addition to the matters discussed above, the Company is
     involved in pending and threatened litigation in the normal
     course of its business.  While the outcome of these matters
     cannot be predicted with certainty, at the present time and
     based on information currently available, management does not
     believe that the Company's liability arising from pending or
     threatened litigation will have a material adverse affect on the
     Company's financial condition or results of operations.

(13) SUBSEQUENT EVENTS

     On January 28, 1999, the Board of Directors of GenAmerica
     Corporation authorized the development of a demutualization plan
     for GAMHC to convert from a mutual holding company to a publicly
     traded stock company. The demutualization plan will be subject
     to approval by the Board of Directors, regulators, and
     policyholders.


                                 33

<PAGE>
<PAGE>

PART II
UNDERTAKING TO FILE REPORTS

Subject to the terms and conditions of Section 15(d) of the Securities
and Exchange Act of 1934, the undersigned registrant hereby undertakes
to file with the Securities and Exchange Commission such supplementary
and periodic information, documents, and reports as may be prescribed by
any rule or regulation of the Commission heretofore, or hereafter duly
adopted pursuant to authority conferred in that section.

RULE 484 UNDERTAKING

Section 351.355 of the Missouri General and Business Corporation Law, in
brief, allows a corporation to indemnify any person who is a party or is
threatened to be made a party to any threatened, pending, or completed
action, suit, or proceeding, whether civil, criminal, administrative, or
investigative by reason of the fact that he is or was a director,
officer, employee, or agent of the corporation, against expenses,
including attorneys' fees, judgments, fines, and amounts paid in
settlement actually and reasonably incurred by him in connection with
such action if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the
corporation.  When any person was or is a party or is threatened to be
made a party in an action or suit by or in the right of the corporation
to procure a judgment in its favor by reason of the Fact that he is or
was a director, officer, employee, or agent of the corporation,
indemnification may be paid unless such person shall have been adjudged
to be liable for negligence or misconduct in the performance of his duty
to the corporation.  In the event of such a determination
indemnification is allowed if a court determines that the person is
fairly and reasonably entitled to indemnity.  A corporation has the
power to give any further indemnity to any person who is or was a
director, officer, employee, or agent, provided for in the articles of
incorporation or as authorized by any by-law which has been adopted by
vote of the shareholders, provided that no such indemnity shall
indemnify any person's conduct which was finally adjudged to have been
knowingly fraudulent, deliberately dishonest, or willful misconduct.

In accordance with Missouri law, General American's Board of Directors,
at its meeting on 19 November 1987, and the policyholders of General
American at the annual meeting held on 26 January 1988, adopted the
following resolutions:

     "BE IT RESOLVED THAT

                            II-1

<PAGE>
<PAGE>
     1.  The company shall indemnify any person who is, or was a
     director, officer, or employee of the company, or is or was
     serving at the request of the company as a director, officer,
     employee or agent of another corporation, partnership, joint
     venture, trust or other enterprise, against any and all expenses
     (including attorneys' fees), judgments, fines, and amounts paid in
     settlement, actually and reasonably incurred by him or her in
     connection with any civil, criminal, administrative, or
     investigative action, proceeding, or claim (including an action by
     or in the right of the company), by reason of the fact that he or
     she was serving in such capacity if he or she acted in good faith
     and in a manner he or she reasonably believed to be in or not
     opposed to the best interests of the company; provided that such
     person's conduct is not finally adjudged to have been knowingly
     fraudulent, deliberately dishonest, or willful misconduct.

     2.  The indemnification provided herein shall not be deemed
     exclusive of any other rights to which a director, officer, or
     employee may be entitled under any agreement, vote of
     policyholders or disinterested directors, or otherwise, both as to
     action in his or her official capacity and as to action in another
     capacity which holding such office, and shall continue as to a
     person who has ceased to be a director, officer, or employee and
     shall inure to the benefit of the heirs, executors and
     administrators of such a person."

Insofar as indemnification for liability arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid
by a director, officer, or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by
such director, officer, or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act
and will be governed by the final adjudication of such issue.

                            II-2

<PAGE>
<PAGE>

REPRESENTATIONS PURSUANT TO RULE 6e-3(T)

This filing is made pursuant to Rules 6c-3 and 6e-3(T) under the
Investment Company Act of 1940.

Registrant elects to be governed by Rule 6e-3(T)(b)(13)(i)(A) under the
Investment Company Act of 1940 with respect to the Policies described in
the Prospectuses.

     Registrant makes the following representations:

     (1)  Section 6e-3(T)(b)(13)(iii)(F) has been relied upon.

     (2)  The level of the mortality and expense risk charge is
          within the range of industry practice for comparable
          flexible premium variable life insurance policies, and
          is reasonable in relation to the risks assumed by the
          Company under the Policies.

     (3)  Registrant has concluded that there is a reasonable
          likelihood that the distribution financing arrangement
          of the Separate Account will benefit the Separate
          Account and Owners and will keep and make available to
          the Commission on request a memorandum setting forth
          the basis for this representation.

     (4)  The Separate Account will invest only in management
          investment companies which have undertaken to have a
          board of directors or trustees, a majority of whom are
          not interested persons of the company, formulate and
          approve any plan under Rule 12b-1 to finance
          distribution expenses.

The methodology used to support the representation made in paragraph (2)
above is based on an analysis of the mortality and expense risk charges
contained in other flexible premium variable life insurance policies.
Registrant undertakes to keep and make available to the Commission on
request the documents used to support the representation in paragraph
(2) above.








                            II-3
                              <PAGE>

CONTENTS OF REGISTRATION STATEMENT


This Registration Statement comprises the following Papers and
Documents:

     The facing sheet
     Variable Universal Life 98 Prospectus, consisting of 62 pages
     The undertaking to file reports required by Section 15 (d), 1934
     Act
     The undertaking pursuant to Rule 484, 1933 Act
     Representations pursuant to Rule 6e-3(T), 1940 Act
     The signatures

1.   The following exhibits (which correspond in number to the numbers
     under paragraph A of the instructions for exhibits to Form N-8B-2):

     (1)  Resolution of the Board of Directors of General
          American authorizing establishment of the
          Separate Account<F1>

     (2)  Not applicable

     (3)  (a)  Principal Underwriting Agreement<F1>

          (b)  Proposed form of Selling Agreement<F1>

          (c)  Commission Schedule<F1>

     (4)  Not applicable

     (5)  Form of Variable Universal Life 98 Policy<F2>

     (6)  (a)  Amended Charter and Articles of Incorporation of
               General American<F1>

          (b)  Amended and Restated By-Laws of General American<F1>

     (7)  Not applicable

     (8)  (a)  Form of Agreement to Purchase Shares of
               General American Capital Company<F2>

          (b)  Form of Participation Agreement with Variable
               Insurance Products Fund<F2>

                            II-4

<PAGE>
<PAGE>
          (c)  Form of Participation Agreement with Variable Insurance
               Products II<F2>

          (d)  Form of Participation Agreement with J.P. Morgan
               Series Trust II<F2>

          (e)  Form of Participation Agreement with VanEck Worldwide
               Insurance Trust<F2>

          (f)  Form of Participation Agreement with American Century
               Variable Portfolios<F2>

     (9)  Not applicable

    (10)  (a)  Form of Application<F2>

2.   Memorandum describing General American's issuance,
     transfer, and redemption procedures for the Policies and
     General American's procedure for conversion to a fixed
     benefit policy.

3.   The following exhibits are numbered to correspond to the numbers
     in the instructions as to exhibits for Form S-6.

          (1)  See above

          (2)  Opinion of Matthew P. McCauley, Associate General
               Counsel of General American<F2>

          (3)  Not applicable

          (5)  Not applicable

[FN]
_____________________

     <F1>   Incorporated by reference to the initial Registration
Statement and File No. 33-48550.

     <F2>   Incorporated by reference to Pre-Effective Amendment No. 1
to the Registration Statement, File No. 33-48550.


                            II-5

                              <PAGE>
<PAGE>

                            SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, General
American Life Insurance Company and General American Separate Account
Eleven represent that this Post-Effective Amendment meets all the
requirements for effectiveness under Rule 485(b) of that Act and have
duly caused this Registration Statement to be signed on their behalf by
the undersigned thereunto duly authorized, and the seal of General
American Life Insurance Company to be hereunto affixed and attested, all
in the City of St. Louis, State of Missouri, on the 22nd day of April
1999.

                                       GENERAL AMERICAN SEPARATE ACCOUNT
                                       ELEVEN (Registrant)

(Seal)                                 BY: GENERAL AMERICAN LIFE
                                       INSURANCE COMPANY (for Registrant
                                       and as Depositor)


Attest: /s/ Robert J. Banstetter, Sr.  By: /s/ Richard A. Liddy
       ------------------------------      -----------------------------
       Robert J. Banstetter, Sr.           Richard A. Liddy
       Secretary                           President
                                           General American Life
                                            Insurance Company


                               II-6
<PAGE>
<PAGE>

Pursuant to the requirements of the Securities Act of 1933, this amended
Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated.

Signature                           Title                         Date
- ---------                           -----                         ----

/s/ Richard A. Liddy
- -------------------------           Chairman, President          4/22/99
Richard A. Liddy                    (Principal Executive
                                    Officer)

/s/ David L. Herzog
- -------------------------           Vice President               4/22/99
David L. Herzog                     Principal Financial
                                    Officer

- -------------------------
August A. Busch, III<F*>            Director


- -------------------------
William E. Cornelius<F*>            Director


- -------------------------
John C. Danforth<F*>                Director


- -------------------------
Bernard A. Edison<F*>               Director


/s/ Richard A. Liddy
- -------------------------
Richard A. Liddy                    Director                     4/22/99


- -------------------------
William E. Maritz<F*>               Director


- -------------------------
Craig D. Schnuck<F*>                Director




                                     II-7

<PAGE>
<PAGE>
Signature                            Title                         Date
- ---------                            -----                         ----


- -------------------------
William P. Stiritz<F*>              Director


- -------------------------
Andrew C. Taylor<F*>                Director


- -------------------------
H. Edwin Trusheim<F*>               Director


- -------------------------
Robert L. Virgil, Jr.<F*>           Director


- -------------------------
Virginia V. Weldon<F*>              Director


- -------------------------
Ted C. Wetterau<F*>                 Director


By  /s/ Matthew P. McCauley                                       4/22/99
    -----------------------------
    Matthew P. McCauley

[FN]
<F*>Original powers of attorney authorizing Matthew P. McCauley to sign
this Registration Statement and Amendments thereto on behalf of the
Board of Directors of General American Life Insurance Company are on
file with the Securities and Exchange Commission.


                                II-8



<PAGE>

The Board of Directors
General American Life Insurance Company

                                         Re: Variable Universal Life 98


We consent to the use of our reports included herein and to the
reference to our firm under the heading "Experts" in the Registration
Statement and Prospectus for General American Separate Account Eleven.



                                         KPMG LLP

St. Louis, Missouri
April 22, 1999


<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                   Sep. Acct. 11 - S&P 500 Index
<NUMBER>                                             1
<MULTIPLIER>                                      1000
       
<S>                       <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           34,112
<INVESTMENTS-AT-VALUE>                          42,444
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  42,444
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           26
<TOTAL-LIABILITIES>                                 26
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              841
<SHARES-COMMON-PRIOR>                              522
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    42,418
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (246)
<NET-INVESTMENT-INCOME>                           (246)
<REALIZED-GAINS-CURRENT>                         3,143
<APPREC-INCREASE-CURRENT>                        4,823
<NET-CHANGE-FROM-OPS>                            7,720
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          21,839
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                    Sep. Acct. 11 - Money Market
<NUMBER>                                             2
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            6,812
<INVESTMENTS-AT-VALUE>                           6,628
<RECEIVABLES>                                      108
<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                                   6,736
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                              344
<SHARES-COMMON-PRIOR>                              472
<ACCUMULATED-NII-CURRENT>                            0
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<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     6,736
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (46)
<NET-INVESTMENT-INCOME>                            (46)
<REALIZED-GAINS-CURRENT>                           436
<APPREC-INCREASE-CURRENT>                         (111)
<NET-CHANGE-FROM-OPS>                              279
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          (2,581)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
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<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                      Sep. Acct. 11 - Bond Index
<NUMBER>                                             3
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            5,033
<INVESTMENTS-AT-VALUE>                           5,112
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   5,112
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            5
<TOTAL-LIABILITIES>                                  5
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              203
<SHARES-COMMON-PRIOR>                              149
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     5,107
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (33)
<NET-INVESTMENT-INCOME>                            (33)
<REALIZED-GAINS-CURRENT>                           271
<APPREC-INCREASE-CURRENT>                           64
<NET-CHANGE-FROM-OPS>                              302
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
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<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           1,659
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
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<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                  Sep. Acct. 11 - Managed Equity
<NUMBER>                                             4
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            5,088
<INVESTMENTS-AT-VALUE>                           5,525
<RECEIVABLES>                                        1
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   5,526
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              155
<SHARES-COMMON-PRIOR>                              136
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     5,526
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (40)
<NET-INVESTMENT-INCOME>                            (40)
<REALIZED-GAINS-CURRENT>                           701
<APPREC-INCREASE-CURRENT>                          (49)
<NET-CHANGE-FROM-OPS>                              612
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           1,291
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                Sep. Acct. 11 - Asset Allocation
<NUMBER>                                             5
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           10,932
<INVESTMENTS-AT-VALUE>                          13,269
<RECEIVABLES>                                      164
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  13,433
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              353
<SHARES-COMMON-PRIOR>                              329
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    13,433
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (97)
<NET-INVESTMENT-INCOME>                            (97)
<REALIZED-GAINS-CURRENT>                         1,377
<APPREC-INCREASE-CURRENT>                          574
<NET-CHANGE-FROM-OPS>                            1,854
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           2,957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>            Sep. Acct. 11 - International Equity
<NUMBER>                                             6
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            8,626
<INVESTMENTS-AT-VALUE>                           9,923
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,923
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            7
<TOTAL-LIABILITIES>                                646
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              499
<SHARES-COMMON-PRIOR>                              474
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     9,917
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (75)
<NET-INVESTMENT-INCOME>                            (75)
<REALIZED-GAINS-CURRENT>                           342
<APPREC-INCREASE-CURRENT>                        1,228
<NET-CHANGE-FROM-OPS>                            1,495
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           2,053
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
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<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                  Sep. Acct. 11 - Mid-Cap Equity
<NUMBER>                                             7
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            6,989
<INVESTMENTS-AT-VALUE>                           7,378
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   7,378
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              339
<SHARES-COMMON-PRIOR>                              282
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     7,378
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (55)
<NET-INVESTMENT-INCOME>                            (55)
<REALIZED-GAINS-CURRENT>                           402
<APPREC-INCREASE-CURRENT>                         (580)
<NET-CHANGE-FROM-OPS>                             (233)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           1,143
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
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<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                Sep. Acct. 11 - Small-Cap Equity
<NUMBER>                                             8
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            2,781
<INVESTMENTS-AT-VALUE>                           2,367
<RECEIVABLES>                                        8
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   2,375
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                               54
<SHARES-COMMON-PRIOR>                               24
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     2,375
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (15)
<NET-INVESTMENT-INCOME>                            (15)
<REALIZED-GAINS-CURRENT>                            46
<APPREC-INCREASE-CURRENT>                         (281)
<NET-CHANGE-FROM-OPS>                             (250)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           1,230
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                   Sep. Acct. 11 - Equity Income
<NUMBER>                                             9
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           17,860
<INVESTMENTS-AT-VALUE>                          20,892
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  20,892
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           62
<TOTAL-LIABILITIES>                                 62
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              822
<SHARES-COMMON-PRIOR>                              700
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    20,830
<DIVIDEND-INCOME>                                  247
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (165)
<NET-INVESTMENT-INCOME>                             82
<REALIZED-GAINS-CURRENT>                         2,233
<APPREC-INCREASE-CURRENT>                         (299)
<NET-CHANGE-FROM-OPS>                            2,016
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           3,834
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                          Sep. Acct. 11 - Growth
<NUMBER>                                            10
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           25,128
<INVESTMENTS-AT-VALUE>                          35,313
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  35,313
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           34
<TOTAL-LIABILITIES>                                 34
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              787
<SHARES-COMMON-PRIOR>                              599
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    35,279
<DIVIDEND-INCOME>                                  117
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (228)
<NET-INVESTMENT-INCOME>                           (111)
<REALIZED-GAINS-CURRENT>                         4,073
<APPREC-INCREASE-CURRENT>                        5,457
<NET-CHANGE-FROM-OPS>                            9,419
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          13,051
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                        Sep. Acct. 11 - Overseas
<NUMBER>                                            11
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            9,074
<INVESTMENTS-AT-VALUE>                           9,972
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,972
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              497
<SHARES-COMMON-PRIOR>                              426
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     9,972
<DIVIDEND-INCOME>                                  163
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (75)
<NET-INVESTMENT-INCOME>                             88
<REALIZED-GAINS-CURRENT>                           687
<APPREC-INCREASE-CURRENT>                          196
<NET-CHANGE-FROM-OPS>                              971
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           1,801
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                   Sep. Acct. 11 - Asset Manager
<NUMBER>                                            12
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            1,142
<INVESTMENTS-AT-VALUE>                           1,235
<RECEIVABLES>                                        2
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   1,237
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                               68
<SHARES-COMMON-PRIOR>                               32
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     1,237
<DIVIDEND-INCOME>                                   21
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      (8)
<NET-INVESTMENT-INCOME>                             13
<REALIZED-GAINS-CURRENT>                            75
<APPREC-INCREASE-CURRENT>                           39
<NET-CHANGE-FROM-OPS>                              127
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             659
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                     Sep. Acct. 11 - High Income
<NUMBER>                                            13
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            3,187
<INVESTMENTS-AT-VALUE>                           2,988
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   2,988
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            1
<TOTAL-LIABILITIES>                                  1
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              259
<SHARES-COMMON-PRIOR>                              160
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     2,987
<DIVIDEND-INCOME>                                  163
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (21)
<NET-INVESTMENT-INCOME>                            142
<REALIZED-GAINS-CURRENT>                           121
<APPREC-INCREASE-CURRENT>                         (420)
<NET-CHANGE-FROM-OPS>                             (157)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             814
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>           Sep. Acct. 11 - Worldwide Hard Assets
<NUMBER>                                            14
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                              336
<INVESTMENTS-AT-VALUE>                             221
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                     221
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                               24
<SHARES-COMMON-PRIOR>                               17
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                       221
<DIVIDEND-INCOME>                                    2
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      (2)
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                            15
<APPREC-INCREASE-CURRENT>                         (105)
<NET-CHANGE-FROM-OPS>                              (90)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             (49)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>      Sep. Acct. 11 - Worldwide Emerging Markets
<NUMBER>                                            15
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                2
<INVESTMENTS-AT-VALUE>                               2
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       2
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         2
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               2
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>              Sep. Acct. 11 - Multi-Style Equity
<NUMBER>                                            16
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            9,897
<INVESTMENTS-AT-VALUE>                          11,402
<RECEIVABLES>                                      314
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  11,716
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              712
<SHARES-COMMON-PRIOR>                              199
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    11,716
<DIVIDEND-INCOME>                                   34
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (40)
<NET-INVESTMENT-INCOME>                              6
<REALIZED-GAINS-CURRENT>                           139
<APPREC-INCREASE-CURRENT>                        1,503
<NET-CHANGE-FROM-OPS>                            1,636
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,176
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                       Sep. Acct. 11 - Core Bond
<NUMBER>                                            17
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            6,337
<INVESTMENTS-AT-VALUE>                           6,437
<RECEIVABLES>                                      221
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   6,658
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              603
<SHARES-COMMON-PRIOR>                              110
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     6,658
<DIVIDEND-INCOME>                                  157
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (24)
<NET-INVESTMENT-INCOME>                            133
<REALIZED-GAINS-CURRENT>                            36
<APPREC-INCREASE-CURRENT>                           72
<NET-CHANGE-FROM-OPS>                              241
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           5,503
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>               Sep. Acct. 11 - Aggressive Equity
<NUMBER>                                            18
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            3,993
<INVESTMENTS-AT-VALUE>                           3,971
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   3,971
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           14
<TOTAL-LIABILITIES>                                 14
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              313
<SHARES-COMMON-PRIOR>                              100
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     3,957
<DIVIDEND-INCOME>                                    3
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (15)
<NET-INVESTMENT-INCOME>                            (12)
<REALIZED-GAINS-CURRENT>                            42
<APPREC-INCREASE-CURRENT>                          (46)
<NET-CHANGE-FROM-OPS>                              (16)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           2,612
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                          Sep. Acct. 11 - Non-US
<NUMBER>                                            19
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                            3,256
<INVESTMENTS-AT-VALUE>                           3,417
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   3,417
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            5
<TOTAL-LIABILITIES>                                  5
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                              308
<SHARES-COMMON-PRIOR>                               78
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                     3,412
<DIVIDEND-INCOME>                                   18
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (13)
<NET-INVESTMENT-INCOME>                              5
<REALIZED-GAINS-CURRENT>                           (13)
<APPREC-INCREASE-CURRENT>                          218
<NET-CHANGE-FROM-OPS>                              210
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           2,628
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                 Sep. Acct. 11 - Income & Growth
<NUMBER>                                            20
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                7
<INVESTMENTS-AT-VALUE>                               7
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       4
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                1
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         7
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            1
<NET-CHANGE-FROM-OPS>                                1
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               7
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                   Sep. Acct. 11 - International
<NUMBER>                                            21
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                1
<INVESTMENTS-AT-VALUE>                               1
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       1
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         1
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               1
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                           Sep. Acct. 11 - Value
<NUMBER>                                            22
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                3
<INVESTMENTS-AT-VALUE>                               3
<RECEIVABLES>                                        1
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       4
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         4
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               4
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>                  Sep. Acct. 11 - Bond Portfolio
<NUMBER>                                            23
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                3
<INVESTMENTS-AT-VALUE>                               3
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       3
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         3
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               3
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<SERIES>
<NAME>         Sep. Acct. 11 - Small Company Portfolio
<NUMBER>                                            24
<MULTIPLIER>                                      1000
       
<S>                        <C>
<PERIOD-START>                             JAN-01-1998
<PERIOD-TYPE>                                     YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                                3
<INVESTMENTS-AT-VALUE>                               3
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                       3
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                         3
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               3
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
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<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
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<PER-SHARE-DIVIDEND>                                 0
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0

        

</TABLE>


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