SUPPLEMENT DATED DECEMBER 26, 1995
TO
PROSPECTUSES DATED MAY 1, 1995
FOR
LIFE OF VIRGINIA SEPARATE ACCOUNT II
LIFE OF VIRGINIA SEPARATE ACCOUNT III
LIFE OF VIRGINIA SEPARATE ACCOUNT 4
On December 26, 1995, AON Corporation announced that it had agreed to sell all
of the common stock of Life of Virginia to General Electric Capital Corporation
("GE Capital"). The sale transaction (the "Transaction"), which is subject to
the receipt of appropriate regulatory approvals, is expected to close in the
first half of 1996.
Upon the closing of the Transaction Life of Virginia will become a subsidiary of
GNA Corporation, which, in turn, is a subsidiary of GE Capital. GNA Corporation
is a diversified financial services holding company whose subsidiaries market
annuities, insurance and mutual funds in the United States through financial
institutions, life insurance brokers, securities brokers, financial planners and
career agent sales forces. GE Capital, a wholly-owned subsidiary of General
Electric Company, is a diversified financial services company headquartered in
Stamford, Connecticut. GE Capital's financing activities include specialty
insurance, consumer services, specialized financing, equipment management and
mid-market financing. GE is a diversified manufacturing, technology and services
company with operations worldwide.
While the Transaction will result in a change of control of Life of Virginia, it
is not expected to affect Life of Virginia Separate Account II, Life of Virginia
Separate Account III or Life of Virginia Separate Account 4 (each, an "Account")
or the contracts issued by Life of Virginia and supported by assets in an
Account.
