FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: __/__/__ (a)
or fiscal year ending: 12/31/97 (b)
Is this a transition report? (Y/N) N
Is this an amendment to a previous filing? (Y/N) N
Those items or sub-items with a box "[Z]" after the item number should be
completed only if the answer has changed from the previous filing on this form.
1. A. Registrant Name: Separate Account Two of The Manufacturers
Life Insurance Company of America
B. File Number: 811-5179
C. Telephone Number:(416) 926-6302
2. A. Street:500 North Woodward Avenue
B. City:Bloomfield Hills C. State:MI D. Zip Code:48304 Zip Ext:
E. Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
4. Is this the last filing on this form by Registrant? (Y/N) N
5. Is Registrant a small business investment company (SBIC)?(Y/N) N
[If answer is "Y" (Yes), complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
[If answer is "Y" (Yes), complete only items 111 through 132.]
7. A. Is Registrant a series or multiple portfolio company? (Y/N)
[If answer is "N" (No), go to item 8.]
B. How many separate series or portfolios did Registrant have
at the end of the period?
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For period ending: 12/31/97
File Number: 811-5179
UNIT INVESTMENT TRUSTS
111. A. [Z] Depositor Name: The Manufacturers Life Insurance
Company of America
B. [Z] File Number (If any):
C. [Z] City: Bloomfield Hills State:MI Zip Code:48304 Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
111. A. [Z] Depositor Name:
B. [Z] File Number (If any):
C. [Z] City: State: Zip Code Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
112. A. [Z] Sponsor Name:
B. [Z] File Number (If any):
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
112. A. [Z] Sponsor Name:
B. [Z] File Number (If any):
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
113. A. [Z] Trustee Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
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For period ending: 12/31/97
File Number: 811-5179
113. A. [Z] Trustee Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
114. A. [Z] Principal Underwriter Name: ManEquity, Inc.
B. [Z] File Number: 8-15826
C. [Z] City:Toronto State:ON Zip Code:M4W 1E5 Zip Ext:
[Z] Foreign Country: Canada Foreign Postal Code:
114. A. [Z] Principal Underwriter Name:
B. [Z] File Number: 8-
C. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
115. A. [Z] Independent Public Accountant Name: Ernst & Young LLP
B. [Z] City:Philadelphia State:PA Zip Code:19103 Zip Ext:7499
[Z] Foreign Country: Foreign Postal Code:
115. A. [Z] Independent Public Accountant Name:
B. [Z] City: State: Zip Code: Zip Ext:
[Z] Foreign Country: Foreign Postal Code:
<PAGE>
For period ending: 12/31/97
File Number: 811-5179
116. Family of investment companies information:
A. [Z] Is Registrant part of a family of investment companies? (Y/N) Y
B. [Z] Identify the family in 10 letters: M F R V A R L I F E
(NOTE: In filing this form, use this identification consistently for all
investment companies in family. This designation is for purposes of this form
only.)
117. A. [Z] Is Registrant a separate account of an insurance company? (Y/N) Y
If answer is "Y" (Yes), are any of the following types of contracts funded by
the Registrant:
B. [Z] Variable annuity contracts? (Y/N) Y
C. [Z] Schedule premium variable life contracts? (Y/N) N
D. [Z] Flexible premium variable life contracts? (Y/N) N
E. [Z] Other types of insurance products registered under the Securities
Act of 1933? (Y/N) N
118. [Z] State the number of series existing at the end of the
period that had securities registered under the
Securities Act of 1933 2
119. [Z] State the number of new series for which registration
statements under the Securities Act of 1933 became effective
during the period 0
120. [Z] State the total value of the portfolio securities
on the date of deposit for the new series included
in Item 119 ($000's omitted) $0
121. [Z] State the number of series for which a current
prospectus was in existence at the end of the period 2
122. [Z] State the number of existing series for which
additional units were registered under the Securities
Act of 1933 during the current period 0
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For period ending: 12/31/97
File Number: 811-5179
123. [Z] State the total value of the additional units
considered in answering item 122 ($000's omitted) $0
124. [Z] State the total value of units of prior series
that were placed in the portfolios of subsequent
series during the current period (the value
of these units is to be measured on the date
they were placed in the subsequent series)
($000's omitted) $0
125. [Z] State the total dollar amount of sales loads
collected (before reallowances to other brokers
or dealers) by Registrant's principal
underwriter and any underwriter which is an
affiliated person of the principal underwriter
during the current period solely from the sale
of units of all series of Registrant ($000's omitted) $0
126. Of the amount shown in item 125, state the total
dollar amount of sales loads collected from secondary
market operations in Registrant's units (include
the sales loads, if any, collected on units of a
prior series placed in the portfolio of a subsequent
series) ($000's omitted) $-
127. List opposite the appropriate description below the
number of series whose portfolios are invested primarily
(based upon a percentage of NAV) in each type of security
shown, the aggregate total assets at market value as of a
date at or near the end of the current period of each
such group of series and the total income distributions
made by each such group of series during the current
period (excluding distributions of realized gains, if any):
<TABLE>
Total Total Income
Number Assets Distributions
of Series ($000's ($000's
Investing omitted) omitted)
<S> <C> <C> <C>
A. U.S. Treasury direct use..................................... __________ $__________ $__________
B. U.S. Government agency ...................................... __________ $__________ $__________
C. State and municipal tax-free................................. __________ $__________ $__________
D. Public utility debt ......................................... __________ $__________ $__________
E. Broker or dealers debt or debt of
brokers' or dealers' parent.................................. __________ $__________ $__________
F. All other corporate intermed. &
long-term debt............................................... __________ $__________ $__________
G. All other corporate short-term debt.......................... __________ $__________ $__________
H. Equity securities or brokers or dealers
or parents of brokers or dealers............................. __________ $__________ $__________
<PAGE>
For period ending: 12/31/97
File Number: 811-5179
Total Total Income
Number Assets Distributions
of Series ($000's ($000's
Investing omitted) omitted)
I. Investment company equity securities......................... 2 $288,109 $1,119
J. All other equity securities.................................. __________ $__________ $__________
K. Other securities............................................. __________ $__________ $__________
L. Total assets of all series of
Registrant................................................... __________ $288,109 $__________
</TABLE>
128. [Z] Is the timely payment of principal and
interest on any of the portfolio securities held
by any of Registrant's series at the end of
the current period insured or guaranteed by an
entity other than the insurer? (Y/N) N
[If answer is "N" (No), go to item 131.]
129. [Z] Is the issuer of any instrument covered in item 128
delinquent or in default as to payment of principal
or interest at the end of the current period? (Y/N)
[If answer is "N" (No), go to item 131.]
130. [Z] In computations of NAV or offering price per unit, is any
part of the value attributed to instruments identified in
item 129 derived from insurance or guarantees? (Y/N)
131. Total expenses incurred by all series of Registrants
during the current reporting period ($000's omitted) $2,768
<PAGE>
For period ending: 12/31/97
File Number: 811-5179
132. [Z] List the "811" (Investment Company Act of 1940) registration number
for all Series of Registrant that are being included in this filing:
811-5179 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
This report is signed on behalf of the registrant in the City of
Toronto, Canada on the 10th day of February, 1998.
THE MANUFACTURERS LIFE INSURANCE COMPANY OF AMERICA
/s/Doug Myers
By:Doug Myers
Vice President, Finance
/s/James D. Gallagher
Witness:
James D. Gallagher
Vice President, Secretary
and General Counsel
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