Supplement dated August 30, 1999
to Prospectus Dated May 1, 1999
for GE Life & Annuity Separate Account III
P1097 1/87
The purpose of this supplement is to revise or modify certain information
contained in your prospectus dated May 1, 1999. The changes made in this
supplement relate to the following sections of your prospectus: The Portfolios;
Premiums; Transfers; and Payments and Telephone Transactions.
THE PORTFOLIOS -- Investment Subdivisions
o VIP Overseas Portfolio of Variable Insurance Products Fund is subadvised by
Fidelity Management & Research (U.K.) Inc., Fidelity Management & Research
Far East Inc., Fidelity International Investment Advisors and Fidelity
International Investment Advisors (U.K.) Limited. (page 19)
o VIP II Contrafund Portfolio of Variable Insurance Products Fund II is
subadvised by Fidelity Management & Research (U.K.) Inc. and Fidelity
Management & Research Far East Inc. (page 21)
o VIP III Growth & Income Portfolio of Variable Insurance Products Fund III
is subadvised by Fidelity Management & Research (U.K.) Inc. and Fidelity
Management & Research Far East Inc. (page 21)
o VIP III Growth Opportunities Portfolio of Variable Insurance Products Fund
III is subadvised by Fidelity Management & Research (U.K.) Inc. and
Fidelity Management & Research Far East Inc. (page 22)
o VIP II Asset Manager Portfolio of Variable Insurance Products Fund II is
subadvised by Fidelity Management & Research (U.K.) Inc. and Fidelity
Management & Research Far East Inc. (page 23)
o GE Investments Funds Global Income Fund is subadvised by GE Investments
(US) Limited. (page 23)
o Under Global Bonds, add the following paragraph following the investment
objective for GE Investments Funds Global Income Fund.
The Global Income Fund is not "diversified" as defined by the
Investment Company Act of 1940. Therefore, the Fund may invest a
greater percentage of its assets in a particular issuer than the other
Funds making it more susceptible to adverse developments affecting a
single issuer. Nonetheless, the Fund is subject to diversification
requirements arising under the federal tax laws and a limitation on
concentration of investments in a single industry. (page 23)
o Federated Insurance Series High Income Bond Fund II is advised by Federated
Investment Management Company. (page 24)
o The Salomon Brothers Variable Series Funds Strategic Bond Fund should be
placed in the Global Bonds category wherever categories are reflected in
the prospectus. (page 24; see also page 16)
PREMIUMS -- Tax Free Exchanges (1035 Exchanges)
o After the last sentence, add the following:
We will accept 1035 exchanges even if there is an outstanding loan on
the other policy, so long as the outstanding loan is no more than 40%
of the total 1035 exchange value. (page 32)
TRANSFERS -- Dollar-Cost Averaging
o Add the following sentence to the end of the second paragraph:
The dollar-cost averaging program will begin on the 5th day of the
month immediately following the end of the Initial Investment Period
(see "Allocating Premiums" for a description of when this occurs).
(page 35)
PAYMENTS AND TELEPHONE TRANSACTIONS -- Requesting Payments
o Delete the third sentence in the first paragraph and replace it with
the following:
Other than the death benefit Proceeds, which we determine as of the
date of the Insured's death, the amount we pay is as of the end of the
Valuation Period during which our Home Office receives all required
documents. (page 40)
THIS SUPPLEMENT SHOULD BE RETAINED WITH YOUR PROSPECTUS FOR
FUTURE REFERENCE.
GE Life and Annuity Assurance Company
6610 West Broad Street
Richmond, Virginia 23230
