Scudder Horizon Plan
Offered by
Charter National Life Insurance Company
through the
Charter National Variable Annuity Account
Supplement Dated August 20, 1999
to the
Prospectus Dated May 1, 1999
On July 1, 1999 Allstate Life Insurance Company announced that it had
purchased Charter National Life Insurance Company from Leucadia National
Corporation. As a result of this transaction, we have made the following changes
to your prospectus:
The last paragraph on page 10 under the heading "Charter National Life
Insurance Company" and the first paragraph on page 11 under the heading
"Purchase Agreement with Allstate" have been deleted and replaced with:
On July 1, 1999, Charter became a wholly owned subsidiary of Allstate
Life Insurance Company ("Allstate"), a stock life insurance company
incorporated under the laws of Illinois. Charter was previously a
wholly owned subsidiary of Leucadia National Corporation ("Leucadia").
Allstate is a wholly owned subsidiary of Allstate Insurance Company, a
stock property-liability insurance company incorporated under the laws
of Illinois. The Allstate Corporation owns all of the outstanding
capital stock of Allstate Insurance Company.
The first sentence in the last paragraph on page 11 under the heading "Services
Agreements with Allstate" has been deleted.
* * *
This Supplement must be read in conjunction with
the Prospectus for
the Charter National Variable Annuity Account dated May 1, 1999
