AMERITAS VARIABLE LIFE INSURANCE COMPANY
OVERTURE ANNUITY III-PLUS
Supplement to Prospectus dated May 1, 1999
The prospectus is amended at page iii of the prospectus Profile to replace the
HISTORICAL PERFORMANCE chart with the following (corrected numbers are
underlined):
<TABLE>
<CAPTION>
HISTORICAL PERFORMANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Subaccount 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
- ---------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Managed by Fidelity Management & Research Company
VIP Money Market 3.89% 3.90% 3.83% 4.27% 2.71% 1.69% 2.31% 4.54% 6.46% 7.53%
VIP Equity-Income 9.96% 26.22% 12.56% 33.10% 5.45% 16.52% 15.12% 29.47% -16.63% 15.59%
VIP Growth 37.45% 21.65% 12.98% 33.36% -1.53% 17.58% 7.67% 43.36% -13.10% 29.52%
------
VIP High Income -5.78% 15.92% 12.32% 18.88% -3.12% 18.60% 21.32% 33.07% -3.73% -5.63%
VIP Overseas 11.07% 9.89% 11.52% 8.03% 0.19% 35.31% -12.10% 6.36% -3.17% 23.89%
VIP II Asset Manager 13.34% 18.86% 12.89% 15.21% -7.52% 19.41% 10.00% 20.67% 5.04% -
VIP II Investment
Grade Bond 7.22% 7.43% 1.63% 15.57% -5.22% 9.25% 5.03% - - -
VIP II Asset Manager:
Growth 15.82% 23.29% 19.00% - - - - - - -
VIP II Index 500 26.43% 30.75% 20.98% - - - - - - -
VIP II Contrafund 28.07% 22.31% 19.49% - - - - - - -
Managed by Fred Alger Management, Inc.
Alger American:
Growth 45.91% 23.88% 11.64% 34.34% -0.10% 20.63% - - - -
Income and Growth 30.44% 34.28% 17.89% 33.13% -9.68% 8.68% - - - -
Small Capitalization 13.80% 9.72% 2.60% 42.17% -5.83% 11.57% - - - -
Balanced 29.58% 18.04% 8.51% 26.71% -5.73% - - - - -
------
MidCap Growth 28.38% 13.29% 10.21% 42.30% -3.07% - - - - -
Leveraged AllCap 55.54% 17.90% 10.37% - - - - - - -
Managed by Massachusetts Financial Services Company
Emerging Growth 32.19% 20.10% 15.24% - - - - - - -
Utilities 16.31% 29.77% 16.74% - - - - - - -
Global Governments 6.29% -2.62% 2.45% - - - - - - -
Research 21.56% - - - - - - - - -
Growth With Income 20.51% - - - - - - - - -
Managed by Morgan Stanley Dean Witter Investment Management Inc.
Emerging Markets -25.36% - - - - - - - - -
Global Equity 11.78% - - - - - - - - -
International Magnum 7.34% - - - - - - - - -
Asian Equity -7.86% - - - - - - - - -
------
U.S. Real Estate -12.22% - - - - - - - - -
The date of this Supplement is May 13, 1999.
</TABLE>
