PROSPECTUS SUPPLEMENT DATED JANUARY 26, 1999
TO FORTIS BENEFITS INSURANCE COMPANY
THE WATERHOUSE VARIABLE ANNUITY
(FORMERLY KNOWN AS THE VALUE ADVANTAGE PLUS ANNUITY)
PROSPECTUS DATED MAY 1, 1998
The prospectus is amended by removing the Lexington
Emerging Markets Fund portfolio as an available
investment portfolio for Certificates issued on and
after January 1, 1999. Certificate holders who
purchased their Certificate prior to January 1, 1999
may not allocate purchase payments made after February
15, 1999, or make subsequent transfers of certificate
value, to the Lexington Emerging Markets Fund.
DAP936
