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[WMA SECURITIES, INC. LOGO]
POWER V
VARIABLE
UNIVERSAL LIFE
1999 SEMI-ANNUAL
REPORT
Includes Semi-Annual Reports for:
Kemper Variable Series
American Skandia Trust
Fidelity Variable Insurance Products Fund
Fidelity Variable Insurance Products Fund II
Fidelity Variable Insurance Products Fund III
Scudder Variable Life Investment Fund
[ZURICH KEMPER LOGO]
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[WMA SECURITIES, INC.]
Securities offered through
WMA Securities, Inc.
Member NASD & SIPC
5555 Triangle Parkway
Norcross, GA 30092
770/453-9300
POWER V is marketed exclusively by World Marketing Alliance, Inc.;
distributed by Investors Brokerage Services, Inc.; and
underwritten by Kemper Investors Life Insurance Company,
Long Grove, IL 60049-0001
[ZURICH KEMPER LOGO]
[ZURICH KEMPER LOGO] -------------------
| BULK RATE |
1 KEMPER DRIVE | U.S. POSTAGE |
LONG GROVE, IL 60049-0001 | PAID |
| PERMIT NO. 240 |
|PALATINE P&DC, IL|
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