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<PAGE> PAGE 2
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010 A00AA01 PAUL REVERE VARIABLE ANNUITY INSURANCE CO.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE LINDA DAUGHETEE
TITLE LEGAL ASSISTANT
<PAGE>
Board of Managers and Contract Owners
The Paul Revere Variable Annuity Contract
Accumulation Fund
In planning and performing our audit of the financial statements of The Paul
Revere Variable Annuity Contract Accumulation Fund for the year ended December
31, 1997, we considered its internal control, including controls over
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on internal control.
The management of The Paul Revere Variable Annuity Contract Accumulation Fund is
responsible for establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of controls. Generally, controls
that are relevant to an audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls include
the safeguarding of assets against unauthorized acquisition, use, or
disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and may not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control component does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal control,
including controls over safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
ERNST & YOUNG LLP
Chattanooga, Tennessee
January 29, 1998
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<PAGE>
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<NAME> SERIES Q
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<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
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<TABLE> <S> <C>
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<NUMBER> 02
<NAME> SERIES N
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</TABLE>
