<PAGE>
Supplement dated September 2, 1997 to the Prospectuses dated May 1, 1997 for
Pacific Select Exec, Pacific Select Choice,
Pacific Select Estate Preserver Last Survivor and
Pacific Select Estate Preserver II Last Survivor Flexible Premium
Variable Life Insurance Policies and
Pacific Select Estate Maximizer Modified Single Premium
Variable Life Insurance Policies
and Pacific Select Variable Annuity, Pacific One Variable Annuity
and Pacific Portfolios
Variable Annuity Each Issued by Pacific Life Insurance Company ("Pacific Life")
and Pacific Select Fund
On September 1, 1997, Pacific Mutual Life Insurance Company converted from a
mutual life insurance company to a stock life insurance company ultimately
controlled by a mutual holding company and was authorized by California
regulatory authorities to change our name to Pacific Life Insurance Company. As
part of the process, we have applied for authorization to do business as Pacific
Life Insurance Company in all states in which we do business. It may be
necessary for us to use forms bearing the name Pacific Mutual Life Insurance
Company at some times and places and forms bearing the name Pacific Life
Insurance Company at other times and places during the transition period. Any
request received in proper order or any transaction made on a form bearing
either of these names will be honored.
We are a subsidiary of Pacific LifeCorp, a holding company which, in turn, is a
subsidiary of Pacific Mutual Holding Company, a mutual holding company. Under
their respective charters, Pacific Mutual Holding Company must always hold at
least 51% of the outstanding voting stock of Pacific LifeCorp, and Pacific
LifeCorp must always own 100% of the voting stock of Pacific Life. Owners of
Pacific Life's annuity contracts and life insurance policies have certain
membership interests in Pacific Mutual Holding Company, consisting principally
of the right to vote on the election of the Board of Directors of the mutual
holding company and on other matters, and certain rights upon liquidation or
dissolutions of the mutual holding company.
VUL Form No. 15-20802-00
VA Form No. SSP0997
