<TABLE>
<CAPTION>
VALUEMARK CHARTER - TRADITIONAL
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1999
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
9-30-99 Purchase $1,000.00 $16.61011512 60.204 60.204 $1,000.00
9-30-00 Contract Fee (1.00) $23.56093386 (0.042) 60.162 1,417.47
9-30-00 Value before Surr Chg $23.56093386 0.000 60.162 1,417.47
9-30-00 Surrender Charge 0.00 $23.56093386 0.000 60.162 1,417.47
Cumulative and Average Annual Total Returns
without/with charges 41.85% A 41.75% B
Global Health Care Securities
9-30-99 Purchase $1,000.00 $8.07629028 123.819 123.819 $1,000.00
9-30-00 Contract Fee (1.00) $16.71033384 (0.060) 123.759 2,068.06
9-30-00 Value before Surr Chg $16.71033384 0.000 123.759 2,068.06
9-30-00 Surrender Charge 0.00 $16.71033384 0.000 123.759 2,068.06
Cumulative and Average Annual Total Returns
without/with charges 106.91% A 106.81% B
Global Utilities Securities
9-30-99 Purchase $1,000.00 $30.45839455 32.832 32.832 $1,000.00
9-30-00 Contract Fee (1.00) $34.35842426 (0.029) 32.803 1,127.04
9-30-00 Value before Surr Chg $34.35842426 0.000 32.803 1,127.04
9-30-00 Surrender Charge 0.00 $34.35842426 0.000 32.803 1,127.04
Cumulative and Average Annual Total Returns
without/with charges 12.80% A 12.70% B
Growth and Income
9-30-99 Purchase $1,000.00 $26.59652234 37.599 37.599 $1,000.00
9-30-00 Contract Fee (1.00) 29.50090582 (0.034) 37.565 1,108.20
9-30-00 Value before Surr Chg 29.50090582 0.000 37.565 1,108.20
9-30-00 Surrender Charge 0.00 29.50090582 0.000 37.565 1,108.20
Cumulative and Average Annual Total Returns
without/with charges 10.92% A 10.82% B
High Income
9-30-99 Purchase $1,000.00 $21.27646428 47.000 47.000 $1,000.00
9-30-00 Contract Fee (1.00) 20.31866026 (0.049) 46.951 953.98
9-30-00 Value before Surr Chg 20.31866026 0.000 46.951 953.98
9-30-00 Surrender Charge 0.00 20.31866026 0.000 46.951 953.98
Cumulative and Average Annual Total Returns
without/with charges -4.50% A -4.60% B
Income Securities
9-30-99 Purchase $1,000.00 $25.43845220 39.311 39.311 $1,000.00
9-30-00 Contract Fee (1.00) 28.64788159 (0.035) 39.276 1,125.16
9-30-00 Value before Surr Chg 28.64788159 0.000 39.276 1,125.16
9-30-00 Surrender Charge 0.00 28.64788159 0.000 39.276 1,125.16
Cumulative and Average Annual Total Returns
without/with charges 12.62% A 12.52% B
Money Market
9-30-99 Purchase $1,000.00 $15.08452454 66.293 66.293 $1,000.00
9-30-00 Contract Fee (1.00) 15.72291849 (0.064) 66.230 1,041.32
9-30-00 Value before Surr Chg 15.72291849 0.000 66.230 1,041.32
9-30-00 Surrender Charge 0.00 15.72291849 0.000 66.230 1,041.32
Cumulative and Average Annual Total Returns
without/with charges 4.23% A 4.13% B
Mutual Discovery Securities
9-30-99 Purchase $1,000.00 $12.07340756 82.827 82.827 $1,000.00
9-30-00 Contract Fee (1.00) $14.79587856 (0.068) 82.759 1,224.49
9-30-00 Value before Surr Chg $14.79587856 0.000 82.759 1,224.49
9-30-00 Surrender Charge 0.00 $14.79587856 0.000 82.759 1,224.49
Cumulative and Average Annual Total Returns
without/with charges 22.55% A 22.45% B
Mutual Shares Securities
9-30-99 Purchase $1,000.00 $12.38935295 80.714 80.714 $1,000.00
9-30-00 Contract Fee (1.00) $14.24289800 (0.070) 80.644 1,148.61
9-30-00 Value before Surr Chg $14.24289800 0.000 80.644 1,148.61
9-30-00 Surrender Charge 0.00 $14.24289800 0.000 80.644 1,148.61
Cumulative and Average Annual Total Returns
without/with charges 14.96% A 14.86% B
Natural Resources Securities
9-30-99 Purchase $1,000.00 $11.35453996 88.070 88.070 $1,000.00
9-30-00 Contract Fee (1.00) 14.36749455 (0.070) 88.001 1,264.35
9-30-00 Value before Surr Chg 14.36749455 0.000 88.001 1,264.35
9-30-00 Surrender Charge 0.00 14.36749455 0.000 88.001 1,264.35
Cumulative and Average Annual Total Returns
without/with charges 26.54% A 26.44% B
Real Estate Securities
9-30-99 Purchase $1,000.00 $22.16003195 45.126 45.126 $1,000.00
9-30-00 Contract Fee (1.00) 27.54159865 (0.036) 45.090 1,241.85
9-30-00 Value before Surr Chg 27.54159865 0.000 45.090 1,241.85
9-30-00 Surrender Charge 0.00 27.54159865 0.000 45.090 1,241.85
Cumulative and Average Annual Total Returns
without/with charges 24.29% A 24.19% B
Rising Dividends
9-30-99 Purchase $1,000.00 $19.46659577 51.370 51.370 $1,000.00
9-30-00 Contract Fee (1.00) $20.00137548 (0.050) 51.320 1,026.47
9-30-00 Value before Surr Chg $20.00137548 0.000 51.320 1,026.47
9-30-00 Surrender Charge 0.00 $20.00137548 0.000 51.320 1,026.47
Cumulative and Average Annual Total Returns
without/with charges 2.75% A 2.65% B
Small Cap
9-30-99 Purchase $1,000.00 $17.80468165 56.165 56.165 $1,000.00
9-30-00 Contract Fee (1.00) $30.32804321 (0.033) 56.132 1,702.37
9-30-00 Value before Surr Chg $30.32804321 0.000 56.132 1,702.37
9-30-00 Surrender Charge 0.00 $30.32804321 0.000 56.132 1,702.37
Cumulative and Average Annual Total Returns
without/with charges 70.34% A 70.24% B
Templeton Developing Markets Equity
9-30-99 Purchase $1,000.00 $9.75382345 102.524 102.524 $1,000.00
9-30-00 Contract Fee (1.00) $9.32284552 (0.107) 102.417 954.81
9-30-00 Value before Surr Chg $9.32284552 0.000 102.417 954.81
9-30-00 Surrender Charge 0.00 $9.32284552 0.000 102.417 954.81
Cumulative and Average Annual Total Returns
without/with charges -4.42% A -4.52% B
Templeton Global Asset Allocation
9-30-99 Purchase $1,000.00 $16.62333789 60.156 60.156 $1,000.00
9-30-00 Contract Fee (1.00) $16.97555682 (0.059) 60.097 1,020.19
9-30-00 Value before Surr Chg $16.97555682 0.000 60.097 1,020.19
9-30-00 Surrender Charge 0.00 $16.97555682 0.000 60.097 1,020.19
Cumulative and Average Annual Total Returns
without/with charges 2.12% A 2.02% B
Templeton Global Growth
9-30-99 Purchase $1,000.00 $17.69555210 56.511 56.511 $1,000.00
9-30-00 Contract Fee (1.00) $18.76438544 (0.053) 56.458 1,059.40
9-30-00 Value before Surr Chg $18.76438544 0.000 56.458 1,059.40
9-30-00 Surrender Charge 0.00 $18.76438544 0.000 56.458 1,059.40
Cumulative and Average Annual Total Returns
without/with charges 6.04% A 5.94% B
Templeton Global Income Securities
9-30-99 Purchase $1,000.00 $17.23230819 58.031 58.031 $1,000.00
9-30-00 Contract Fee (1.00) 16.45350542 (0.061) 57.970 953.81
9-30-00 Value before Surr Chg 16.45350542 0.000 57.970 953.81
9-30-00 Surrender Charge 0.00 16.45350542 0.000 57.970 953.81
Cumulative and Average Annual Total Returns
without/with charges -4.52% A -4.62% B
Templeton International Equity
9-30-99 Purchase $1,000.00 $20.17393708 49.569 49.569 $1,000.00
9-30-00 Contract Fee (1.00) $21.64451470 (0.046) 49.523 1,071.89
9-30-00 Value before Surr Chg $21.64451470 0.000 49.523 1,071.89
9-30-00 Surrender Charge 0.00 $21.64451470 0.000 49.523 1,071.89
Cumulative and Average Annual Total Returns
without/with charges 7.29% A 7.19% B
Templeton International Smaller Companies
9-30-99 Purchase $1,000.00 $10.91084863 91.652 91.652 $1,000.00
9-30-00 Contract Fee (1.00) $11.54864388 (0.087) 91.565 1,057.46
9-30-00 Value before Surr Chg $11.54864388 0.000 91.565 1,057.46
9-30-00 Surrender Charge 0.00 $11.54864388 0.000 91.565 1,057.46
Cumulative and Average Annual Total Returns
without/with charges 5.85% A 5.75% B
Templeton Pacific Growth
9-30-99 Purchase $1,000.00 $10.13332506 98.684 98.684 $1,000.00
9-30-00 Contract Fee (1.00) $8.83109817 (0.113) 98.571 870.49
9-30-00 Value before Surr Chg $8.83109817 0.000 98.571 870.49
9-30-00 Surrender Charge 0.00 $8.83109817 0.000 98.571 870.49
Cumulative and Average Annual Total Returns
without/with charges -12.85% A -12.95% B
U.S. Government Securities
9-30-99 Purchase $1,000.00 $19.14835498 52.224 52.224 $1,000.00
9-30-00 Contract Fee (1.00) 20.17157532 (0.050) 52.174 1,052.44
9-30-00 Value before Surr Chg 20.17157532 0.000 52.174 1,052.44
9-30-00 Surrender Charge 0.00 20.17157532 0.000 52.174 1,052.44
Cumulative and Average Annual Total Returns
without/with charges 5.34% A 5.24% B
Value Securities
9-30-99 Purchase $1,000.00 $7.42588116 134.664 134.664 $1,000.00
9-30-00 Contract Fee (1.00) $8.83139430 (0.113) 134.551 1,188.27
9-30-00 Value before Surr Chg $8.83139430 0.000 134.551 1,188.27
9-30-00 Surrender Charge 0.00 $8.83139430 0.000 134.551 1,188.27
Cumulative and Average Annual Total Returns
without/with charges 18.93% A 18.83% B
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = (Accumulated Value as of September 30, 2000 - Accum. Value at
Purch.)/Accum. Value at Purch.
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - TRADITIONAL
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1997
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
9-30-97 Purchase $1,000.00 $13.51841494 73.973 73.973 $1,000.00
9-30-98 Contract Fee (1.00) $13.13261367 (0.076) 73.897 970.46
9-30-99 Contract Fee (1.00) $16.61011512 (0.060) 73.837 1,226.44
9-30-00 Contract Fee (1.00) $23.56093386 (0.042) 73.794 1,738.66
9-30-00 Value before Surr Chg $23.56093386 0.000 73.794 1,738.66
9-30-00 Surrender Charge 0.00 $23.56093386 0.000 73.794 1,738.66
Cumulative Total Returns without/with chrgs. 74.29% A 73.87% C
Avg. Annual Total Returns without/with chrgs. 20.34% B 20.25% D
Franklin Global Communications Securities
9-30-97 Purchase $1,000.00 $23.32989770 42.863 42.863 $1,000.00
9-30-98 Contract Fee (1.00) 26.60140627 (0.038) 42.826 1,139.23
9-30-99 Contract Fee (1.00) 30.45839455 (0.033) 42.793 1,303.41
9-30-00 Contract Fee (1.00) 34.35842426 (0.029) 42.764 1,469.30
9-30-00 Value before Surr Chg 34.35842426 0.000 42.764 1,469.30
9-30-00 Surrender Charge 0.00 34.35842426 0.000 42.764 1,469.30
Cumulative Total Returns without/with chrgs. 47.27% A 46.93% C
Avg. Annual Total Returns without/with chrgs. 13.77% B 13.69% D
Growth and Income
9-30-97 Purchase $1,000.00 $24.23369745 41.265 41.265 $1,000.00
9-30-98 Contract Fee (1.00) 24.70266303 (0.040) 41.224 1,018.35
9-30-99 Contract Fee (1.00) 26.59652234 (0.038) 41.187 1,095.42
9-30-00 Contract Fee (1.00) 29.50090582 (0.034) 41.153 1,214.05
9-30-00 Value before Surr Chg 29.50090582 0.000 41.153 1,214.05
9-30-00 Surrender Charge 0.00 29.50090582 0.000 41.153 1,214.05
Cumulative Total Returns without/with chrgs. 21.74% A 21.40% C
Avg. Annual Total Returns without/with chrgs. 6.78% B 6.68% D
High Income
9-30-97 Purchase $1,000.00 $21.54525858 46.414 46.414 $1,000.00
9-30-98 Contract Fee (1.00) 21.04116586 (0.048) 46.366 975.60
9-30-99 Contract Fee (1.00) 21.27646428 (0.047) 46.319 985.51
9-30-00 Contract Fee (1.00) 20.31866026 (0.049) 46.270 940.15
9-30-00 Value before Surr Chg 20.31866026 0.000 46.270 940.15
9-30-00 Surrender Charge 0.00 20.31866026 0.000 46.270 940.15
Cumulative Total Returns without/with chrgs. -5.69% A -5.99% C
Avg. Annual Total Returns without/with chrgs. -1.93% B -2.04% D
Income Securities
9-30-97 Purchase $1,000.00 $24.61777380 40.621 40.621 $1,000.00
9-30-98 Contract Fee (1.00) 25.14641718 (0.040) 40.581 1,020.47
9-30-99 Contract Fee (1.00) 25.43845220 (0.039) 40.542 1,031.33
9-30-00 Contract Fee (1.00) 28.64788159 (0.035) 40.507 1,160.44
9-30-00 Value before Surr Chg 28.64788159 0.000 40.507 1,160.44
9-30-00 Surrender Charge 0.00 28.64788159 0.000 40.507 1,160.44
Cumulative Total Returns without/with chrgs. 16.37% A 16.04% C
Avg. Annual Total Returns without/with chrgs. 5.18% B 5.09% D
Money Market
9-30-97 Purchase $1,000.00 $14.02817185 71.285 71.285 $1,000.00
9-30-98 Contract Fee (1.00) 14.60302974 (0.068) 71.217 1,039.98
9-30-99 Contract Fee (1.00) 15.08452454 (0.066) 71.150 1,073.27
9-30-00 Contract Fee (1.00) 15.72291849 (0.064) 71.087 1,117.69
9-30-00 Value before Surr Chg 15.72291849 0.000 71.087 1,117.69
9-30-00 Surrender Charge 0.00 15.72291849 0.000 71.087 1,117.69
Cumulative Total Returns without/with chrgs. 12.08% A 11.77% C
Avg. Annual Total Returns without/with chrgs. 3.87% B 3.78% D
Mutual Discovery Securities
9-30-97 Purchase $1,000.00 $12.23041843 81.763 81.763 $1,000.00
9-30-98 Contract Fee (1.00) $10.42682897 (0.096) 81.667 851.53
9-30-99 Contract Fee (1.00) $12.07340756 (0.083) 81.585 985.00
9-30-00 Contract Fee (1.00) $14.79587856 (0.068) 81.517 1,206.12
9-30-00 Value before Surr Chg $14.79587856 0.000 81.517 1,206.12
9-30-00 Surrender Charge 0.00 $14.79587856 0.000 81.517 1,206.12
Cumulative Total Returns without/with chrgs. 20.98% 20.61%
Avg. Annual Total Returns without/with chrgs. 6.55% 6.45%
Mutual Shares Securities
9-30-97 Purchase $1,000.00 $11.99269947 83.384 83.384 $1,000.00
9-30-98 Contract Fee (1.00) $10.56762511 (0.095) 83.289 880.17
9-30-99 Contract Fee (1.00) $12.38935295 (0.081) 83.209 1,030.90
9-30-00 Contract Fee (1.00) $14.24289800 (0.070) 83.139 1,184.13
9-30-00 Value before Surr Chg $14.24289800 0.000 83.139 1,184.13
9-30-00 Surrender Charge 0.00 $14.24289800 0.000 83.139 1,184.13
Cumulative Total Returns without/with chrgs. 18.76% 18.41%
Avg. Annual Total Returns without/with chrgs. 5.90% 5.80%
Natural Resources Securities
9-30-97 Purchase $1,000.00 $14.59151028 68.533 68.533 $1,000.00
9-30-98 Contract Fee (1.00) 8.77239698 (0.114) 68.419 600.20
9-30-99 Contract Fee (1.00) 11.35453996 (0.088) 68.331 775.87
9-30-00 Contract Fee (1.00) 14.36749455 (0.070) 68.261 980.74
9-30-00 Value before Surr Chg 14.36749455 0.000 68.261 980.74
9-30-00 Surrender Charge 0.00 14.36749455 0.000 68.261 980.74
Cumulative Total Returns without/with chrgs. -1.54% A -1.93% C
Avg. Annual Total Returns without/with chrgs. -0.51% B -0.65% D
Real Estate Securities
9-30-97 Purchase $1,000.00 $28.97920834 34.507 34.507 $1,000.00
9-30-98 Contract Fee (1.00) 23.92577001 (0.042) 34.466 824.62
9-30-99 Contract Fee (1.00) 22.16003195 (0.045) 34.421 762.76
9-30-00 Contract Fee (1.00) 27.54159865 (0.036) 34.384 947.00
9-30-00 Value before Surr Chg 27.54159865 0.000 34.384 947.00
9-30-00 Surrender Charge 0.00 27.54159865 0.000 34.384 947.00
Cumulative Total Returns without/with chrgs. -4.96% A -5.30% C
Avg. Annual Total Returns without/with chrgs. -1.68% B -1.80% D
Rising Dividends
9-30-97 Purchase $1,000.00 $19.98348005 50.041 50.041 $1,000.00
9-30-98 Contract Fee (1.00) $18.08865538 (0.055) 49.986 904.18
9-30-99 Contract Fee (1.00) $19.46659577 (0.051) 49.935 972.06
9-30-00 Contract Fee (1.00) $20.00137548 (0.050) 49.885 997.76
9-30-00 Value before Surr Chg $20.00137548 0.000 49.885 997.76
9-30-00 Surrender Charge 0.00 $20.00137548 0.000 49.885 997.76
Cumulative Total Returns without/with chrgs. 0.09% A -0.22% C
Avg. Annual Total Returns without/with chrgs. 0.03% B -0.07% D
Small Cap
9-30-97 Purchase $1,000.00 $16.34930396 61.165 61.165 $1,000.00
9-30-98 Contract Fee (1.00) $11.86493954 (0.084) 61.080 724.72
9-30-99 Contract Fee (1.00) $17.80468165 (0.056) 61.024 1,086.52
9-30-00 Contract Fee (1.00) $30.32804321 (0.033) 60.991 1,849.75
9-30-00 Value before Surr Chg $30.32804321 0.000 60.991 1,849.75
9-30-00 Surrender Charge 0.00 $30.32804321 0.000 60.991 1,849.75
Cumulative Total Returns without/with charges 85.50% A 84.97% C
Average Annual Total Returns without/with charges 22.87% B 22.75% D
Templeton Developing Markets Equity
9-30-97 Purchase $1,000.00 $13.67395501 73.132 73.132 $1,000.00
9-30-98 Contract Fee (1.00) $6.72724730 (0.149) 72.983 490.98
9-30-99 Contract Fee (1.00) $9.75382345 (0.103) 72.881 710.86
9-30-00 Contract Fee (1.00) $9.32284552 (0.107) 72.773 678.45
9-30-00 Value before Surr Chg $9.32284552 0.000 72.773 678.45
9-30-00 Surrender Charge 0.00 $9.32284552 0.000 72.773 678.45
Cumulative Total Returns without/with chrgs. -31.82% A -32.15% C
Avg. Annual Total Returns without/with chrgs. -11.99% B -12.13% D
Templeton Global Asset Allocation
9-30-97 Purchase $1,000.00 $14.97485989 66.779 66.779 $1,000.00
9-30-98 Contract Fee (1.00) $12.28941700 (0.081) 66.697 819.67
9-30-99 Contract Fee (1.00) $16.62333789 (0.060) 66.637 1,107.73
9-30-00 Contract Fee (1.00) $16.97555682 (0.059) 66.578 1,130.20
9-30-00 Value before Surr Chg $16.97555682 0.000 66.578 1,130.20
9-30-00 Surrender Charge 0.00 $16.97555682 0.000 66.578 1,130.20
Cumulative Total Returns without/with chrgs. 13.36% A 13.02% C
Avg. Annual Total Returns without/with chrgs. 4.27% B 4.16% D
Templeton Global Growth
9-30-97 Purchase $1,000.00 $16.47746561 60.689 60.689 $1,000.00
9-30-98 Contract Fee (1.00) $14.23340830 (0.070) 60.619 862.81
9-30-99 Contract Fee (1.00) $17.69555210 (0.057) 60.562 1,071.68
9-30-00 Contract Fee (1.00) $18.76438544 (0.053) 60.509 1,135.41
9-30-00 Value before Surr Chg $18.76438544 0.000 60.509 1,135.41
9-30-00 Surrender Charge 0.00 $18.76438544 0.000 60.509 1,135.41
Cumulative Total Returns without/with chrgs. 13.88% A 13.54% C
Avg. Annual Total Returns without/with chrgs. 4.43% B 4.32% D
Templeton Global Income Securities
9-30-97 Purchase $1,000.00 $17.40988077 57.439 57.439 $1,000.00
9-30-98 Contract Fee (1.00) 17.82937797 (0.056) 57.383 1,023.10
9-30-99 Contract Fee (1.00) 17.23230819 (0.058) 57.325 987.83
9-30-00 Contract Fee (1.00) 16.45350542 (0.061) 57.264 942.19
9-30-00 Value before Surr Chg 16.45350542 0.000 57.264 942.19
9-30-00 Surrender Charge 0.00 16.45350542 0.000 57.264 942.19
Cumulative Total Returns without/with chrgs. -5.49% A -5.78% C
Avg. Annual Total Returns without/with chrgs. -1.87% B -1.97% D
Templeton International Equity
9-30-97 Purchase $1,000.00 $19.76934667 50.583 50.583 $1,000.00
9-30-98 Contract Fee (1.00) $16.79815203 (0.060) 50.524 848.71
9-30-99 Contract Fee (1.00) $20.17393708 (0.050) 50.474 1,018.26
9-30-00 Contract Fee (1.00) $21.64451470 (0.046) 50.428 1,091.49
9-30-00 Value before Surr Chg $21.64451470 0.000 50.428 1,091.49
9-30-00 Surrender Charge 0.00 $21.64451470 0.000 50.428 1,091.49
Cumulative Total Returns without/with chrgs. 9.49% A 9.15% C
Avg. Annual Total Returns without/with chrgs. 3.07% B 2.96% D
Templeton International Smaller Companies
9-30-97 Purchase $1,000.00 $12.36611978 80.866 80.866 $1,000.00
9-30-98 Contract Fee (1.00) $8.81734066 (0.113) 80.753 712.02
9-30-99 Contract Fee (1.00) $10.91084863 (0.092) 80.661 880.08
9-30-00 Contract Fee (1.00) $11.54864388 (0.087) 80.574 930.53
9-30-00 Value before Surr Chg $11.54864388 0.000 80.574 930.53
9-30-00 Surrender Charge 0.00 $11.54864388 0.000 80.574 930.53
Cumulative Total Returns without/with chrgs. -6.61% A -6.95% C
Avg. Annual Total Returns without/with chrgs. -2.25% B -2.37% D
Templeton Pacific Growth
9-30-97 Purchase $1,000.00 $13.45590812 74.317 74.317 $1,000.00
9-30-98 Contract Fee (1.00) $6.14593087 (0.163) 74.154 455.75
9-30-99 Contract Fee (1.00) $10.13332506 (0.099) 74.055 750.43
9-30-00 Contract Fee (1.00) $8.83109817 (0.113) 73.942 652.99
9-30-00 Value before Surr Chg $8.83109817 0.000 73.942 652.99
9-30-00 Surrender Charge 0.00 $8.83109817 0.000 73.942 652.99
Cumulative Total Returns without/with chrgs. -34.37% A -34.70% C
Avg. Annual Total Returns without/with chrgs. -13.10% B -13.24% D
U.S. Government Securities
9-30-97 Purchase $1,000.00 $17.96228793 55.672 55.672 $1,000.00
9-30-98 Contract Fee (1.00) 19.51310972 (0.051) 55.621 1,085.34
9-30-99 Contract Fee (1.00) 19.14835498 (0.052) 55.569 1,064.05
9-30-00 Contract Fee (1.00) 20.17157532 (0.050) 55.519 1,119.91
9-30-00 Value before Surr Chg 20.17157532 0.000 55.519 1,119.91
9-30-00 Surrender Charge 0.00 20.17157532 0.000 55.519 1,119.91
Cumulative Total Returns without/with chrgs. 12.30% A 11.99% C
Avg. Annual Total Returns without/with chrgs. 3.94% B 3.85% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/3 Years)]-1 C = (Accumulated Value as of September 30,
2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/3 Years)]-1
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - TRADITIONAL
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1995
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Global Utilities Securities
<S> <C> <C> <C> <C> <C> <C>
9-30-95 Purchase $1,000.00 $18.30540399 54.629 54.629 $1,000.00
9-30-96 Contract Fee (1.00) 20.05201029 (0.050) 54.579 1,094.41
9-30-97 Contract Fee (1.00) 23.32989770 (0.043) 54.536 1,272.32
9-30-98 Contract Fee (1.00) 26.60140627 (0.038) 54.498 1,449.73
9-30-99 Contract Fee (1.00) 30.45839455 (0.033) 54.466 1,658.93
9-30-00 Contract Fee (1.00) 34.35842426 (0.029) 54.436 1,870.35
9-30-00 Value before Surr Chg 34.35842426 0.000 54.436 1,870.35
9-30-00 Surrender Charge 0.00 34.35842426 0.000 54.436 1,870.35
Cumulative Total Returns without/with chrgs. 87.70% A 87.03% C
Avg. Annual Total Returns without/with chrgs. 13.42% B 13.34% D
Growth and Income
9-30-95 Purchase $1,000.00 $16.42965559 60.866 60.866 $1,000.00
9-30-96 Contract Fee (1.00) 18.46480754 (0.054) 60.811 1,122.87
9-30-97 Contract Fee (1.00) 24.23369745 (0.041) 60.770 1,472.68
9-30-98 Contract Fee (1.00) 24.70266303 (0.040) 60.730 1,500.18
9-30-99 Contract Fee (1.00) 26.59652234 (0.038) 60.692 1,614.20
9-30-00 Contract Fee (1.00) 29.50090582 (0.034) 60.658 1,789.47
9-30-00 Value before Surr Chg 29.50090582 0.000 60.658 1,789.47
9-30-00 Surrender Charge 0.00 29.50090582 0.000 60.658 1,789.47
Cumulative Total Returns without/with chrgs. 79.56% A 78.95% C
Avg. Annual Total Returns without/with chrgs. 12.42% B 12.34% D
High Income
9-30-95 Purchase $1,000.00 $17.11981520 58.412 58.412 $1,000.00
9-30-96 Contract Fee (1.00) 19.00080872 (0.053) 58.359 1,108.87
9-30-97 Contract Fee (1.00) 21.54525858 (0.046) 58.313 1,256.36
9-30-98 Contract Fee (1.00) 21.04116586 (0.048) 58.265 1,225.97
9-30-99 Contract Fee (1.00) 21.27646428 (0.047) 58.218 1,238.68
9-30-00 Contract Fee (1.00) 20.31866026 (0.049) 58.169 1,181.92
9-30-00 Value before Surr Chg 20.31866026 0.000 58.169 1,181.92
9-30-00 Surrender Charge 0.00 20.31866026 0.000 58.169 1,181.92
Cumulative Total Returns without/with chrgs. 18.69% A 18.19% C
Avg. Annual Total Returns without/with chrgs. 3.49% B 3.40% D
Income Securities
9-30-95 Purchase $1,000.00 $19.34737911 51.687 51.687 $1,000.00
9-30-96 Contract Fee (1.00) 21.10212963 (0.047) 51.639 1,089.70
9-30-97 Contract Fee (1.00) 24.61777380 (0.041) 51.599 1,270.24
9-30-98 Contract Fee (1.00) 25.14641718 (0.040) 51.559 1,296.52
9-30-99 Contract Fee (1.00) 25.43845220 (0.039) 51.520 1,310.58
9-30-00 Contract Fee (1.00) 28.64788159 (0.035) 51.485 1,474.92
9-30-00 Value before Surr Chg 28.64788159 0.000 51.485 1,474.92
9-30-00 Surrender Charge 0.00 28.64788159 0.000 51.485 1,474.92
Cumulative Total Returns without/with chrgs. 48.07% A 47.49% C
Avg. Annual Total Returns without/with chrgs. 8.17% B 8.08% D
Money Market
9-30-95 Purchase $1,000.00 $12.96262617 77.145 77.145 $1,000.00
9-30-96 Contract Fee (1.00) 13.48955667 (0.074) 77.071 1,039.65
9-30-97 Contract Fee (1.00) 14.02817185 (0.071) 76.999 1,080.16
9-30-98 Contract Fee (1.00) 14.60302974 (0.068) 76.931 1,123.43
9-30-99 Contract Fee (1.00) 15.08452454 (0.066) 76.865 1,159.47
9-30-00 Contract Fee (1.00) 15.72291849 (0.064) 76.801 1,207.54
9-30-00 Value before Surr Chg 15.72291849 0.000 76.801 1,207.54
9-30-00 Surrender Charge 0.00 15.72291849 0.000 76.801 1,207.54
Cumulative Total Returns without/with chrgs. 21.29% A 20.75% C
Avg. Annual Total Returns without/with chrgs. 3.94% B 3.84% D
Natural Resources Securities
9-30-95 Purchase $1,000.00 $14.62558190 68.373 68.373 $1,000.00
9-30-96 Contract Fee (1.00) 14.82518913 (0.067) 68.306 1,012.65
9-30-97 Contract Fee (1.00) 14.59151028 (0.069) 68.237 995.69
9-30-98 Contract Fee (1.00) 8.77239698 (0.114) 68.123 597.61
9-30-99 Contract Fee (1.00) 11.35453996 (0.088) 68.035 772.51
9-30-00 Contract Fee (1.00) 14.36749455 (0.070) 67.966 976.50
9-30-00 Value before Surr Chg 14.36749455 0.000 67.966 976.50
9-30-00 Surrender Charge 0.00 14.36749455 0.000 67.966 976.50
Cumulative Total Returns without/with chrgs. -1.76% A -2.35% C
Avg. Annual Total Returns without/with chrgs. -0.36% B -0.47% D
Real Estate Securities
9-30-95 Purchase $1,000.00 $17.53334605 57.034 57.034 $1,000.00
9-30-96 Contract Fee (1.00) 20.94609264 (0.048) 56.986 1,193.64
9-30-97 Contract Fee (1.00) 28.97920834 (0.035) 56.952 1,650.42
9-30-98 Contract Fee (1.00) 23.92577001 (0.042) 56.910 1,361.62
9-30-99 Contract Fee (1.00) 22.16003195 (0.045) 56.865 1,260.13
9-30-00 Contract Fee (1.00) 27.54159865 (0.036) 56.829 1,565.15
9-30-00 Value before Surr Chg 27.54159865 0.000 56.829 1,565.15
9-30-00 Surrender Charge 0.00 27.54159865 0.000 56.829 1,565.15
Cumulative Total Returns without/with chrgs. 57.08% A 56.52% C
Avg. Annual Total Returns without/with chrgs. 9.45% B 9.37% D
Rising Dividends
9-30-95 Purchase $1,000.00 $11.90589363 83.992 83.992 $1,000.00
9-30-96 Contract Fee (1.00) $13.97155096 (0.072) 83.920 $1,172.50
9-30-97 Contract Fee (1.00) $19.98348005 (0.050) 83.870 $1,676.02
9-30-98 Contract Fee (1.00) $18.08865538 (0.055) 83.815 1,516.10
9-30-99 Contract Fee (1.00) $19.46659577 (0.051) 83.764 1,630.59
9-30-00 Contract Fee (1.00) $20.00137548 (0.050) 83.714 1,674.39
9-30-00 Value before Surr Chg $20.00137548 0.000 83.714 1,674.39
9-30-00 Surrender Charge 0.00 $20.00137548 0.000 83.714 1,674.39
Cumulative Total Returns without/with chrgs. 68.00% A 67.44% C
Avg. Annual Total Rtns. without/with chrgs. 10.93% B 10.86% D
Templeton Developing Markets Equity
9-30-95 Purchase $1,000.00 $9.91883395 100.818 100.818 $1,000.00
9-30-96 Contract Fee (1.00) $10.87079815 (0.092) 100.726 1,094.98
9-30-97 Contract Fee (1.00) $13.67395501 (0.073) 100.653 1,376.33
9-30-98 Contract Fee (1.00) $6.72724730 (0.149) 100.505 676.12
9-30-99 Contract Fee (1.00) $9.75382345 (0.103) 100.402 979.30
9-30-00 Contract Fee (1.00) $9.32284552 (0.107) 100.295 935.03
9-30-00 Value before Surr Chg $9.32284552 0.000 100.295 935.03
9-30-00 Surrender Charge 0.00 $9.32284552 0.000 100.295 935.03
Cumulative Total Returns without/with chrgs. -6.01% A -6.50% C
Avg. Annual Total Rtns. without/with chrgs. -1.23% B -1.33% D
Templeton Global Asset Allocation
9-30-95 Purchase $1,000.00 $10.33134546 96.793 96.793 $1,000.00
9-30-96 Contract Fee (1.00) $11.72325897 (0.085) 96.708 $1,133.73
9-30-97 Contract Fee (1.00) $14.97485989 (0.067) 96.641 $1,447.18
9-30-98 Contract Fee (1.00) $12.28941700 (0.081) 96.559 $1,186.66
9-30-99 Contract Fee (1.00) $16.62333789 (0.060) 96.499 $1,604.14
9-30-00 Contract Fee (1.00) $16.97555682 (0.059) 96.440 $1,637.13
9-30-00 Value before Surr Chg $16.97555682 0.000 96.440 $1,637.13
9-30-00 Surrender Charge 0.00 $16.97555682 0.000 96.440 $1,637.13
Cumulative Total Returns without/with chrgs. 64.31% A 63.71% C
Avg. Annual Total Rtns. without/with chrgs. 10.44% B 10.36% D
Templeton Global Growth
9-30-95 Purchase $1,000.00 $11.41284078 87.621 87.621 $1,000.00
9-30-96 Contract Fee (1.00) $12.61277297 (0.079) 87.541 1,104.14
9-30-97 Contract Fee (1.00) $16.47746561 (0.061) 87.481 1,441.46
9-30-98 Contract Fee (1.00) $14.23340830 (0.070) 87.410 1,244.15
9-30-99 Contract Fee (1.00) $17.69555210 (0.057) 87.354 1,545.77
9-30-00 Contract Fee (1.00) $18.76438544 (0.053) 87.301 1,638.14
9-30-00 Value before Surr Chg $18.76438544 0.000 87.301 1,638.14
9-30-00 Surrender Charge 0.00 $18.76438544 0.000 87.301 1,638.14
Cumulative Total Returns without/with chrgs. 64.41% A 63.81% C
Avg. Annual Total Rtns. without/with chrgs. 10.46% B 10.37% D
Templeton Global Income Securities
9-30-95 Purchase $1,000.00 $15.15031575 66.005 66.005 $1,000.00
9-30-96 Contract Fee (1.00) 16.36575520 (0.061) 65.944 1,079.23
9-30-97 Contract Fee (1.00) 17.40988077 (0.057) 65.887 1,147.08
9-30-98 Contract Fee (1.00) 17.82937797 (0.056) 65.831 1,173.72
9-30-99 Contract Fee (1.00) 17.23230819 (0.058) 65.773 1,133.41
9-30-00 Contract Fee (1.00) 16.45350542 (0.061) 65.712 1,081.19
9-30-00 Value before Surr Chg 16.45350542 0.000 65.712 1,081.19
9-30-00 Surrender Charge 0.00 16.45350542 0.000 65.712 1,081.19
Cumulative Total Returns without/with chrgs. 8.60% A 8.12% C
Avg. Annual Total Returns without/with chrgs. 1.66% B 1.57% D
Templeton International Equity
9-30-95 Purchase $1,000.00 $13.63121362 73.361 73.361 $1,000.00
9-30-96 Contract Fee (1.00) $15.03627037 (0.067) 73.295 1,102.08
9-30-97 Contract Fee (1.00) $19.76934667 (0.051) 73.244 1,447.99
9-30-98 Contract Fee (1.00) $16.79815203 (0.060) 73.184 1,229.36
9-30-99 Contract Fee (1.00) $20.17393708 (0.050) 73.135 1,475.42
9-30-00 Contract Fee (1.00) $21.64451470 (0.046) 73.089 1,581.97
9-30-00 Value before Surr Chg $21.64451470 0.000 73.089 1,581.97
9-30-00 Surrender Charge 0.00 $21.64451470 0.000 73.089 1,581.97
Cumulative Total Returns without/with chrgs. 58.79% A 58.20% C
Avg. Annual Total Rtns. without/with chrgs. 9.69% B 9.61% D
Templeton Pacific Growth
9-30-95 Purchase $1,000.00 $13.68282419 73.084 73.084 $1,000.00
9-30-96 Contract Fee (1.00) $15.04515356 (0.066) 73.018 1,098.56
9-30-97 Contract Fee (1.00) $13.45590812 (0.074) 72.944 981.52
9-30-98 Contract Fee (1.00) $6.14593087 (0.163) 72.781 447.31
9-30-99 Contract Fee (1.00) $10.13332506 (0.099) 72.682 736.51
9-30-00 Contract Fee (1.00) $8.83109817 (0.113) 72.569 640.86
9-30-00 Value before Surr Chg $8.83109817 0.000 72.569 640.86
9-30-00 Surrender Charge 0.00 $8.83109817 0.000 72.569 640.86
Cumulative Total Returns without/with chrgs. -35.46% A -35.91% C
Avg. Annual Total Rtns. without/with chrgs. -8.38% B -8.51% D
U.S. Government Securities
9-30-95 Purchase $1,000.00 $15.97021027 62.617 62.617 $1,000.00
9-30-96 Contract Fee (1.00) 16.52058734 (0.061) 62.556 1,033.46
9-30-97 Contract Fee (1.00) 17.96228793 (0.056) 62.500 1,122.65
9-30-98 Contract Fee (1.00) 19.51310972 (0.051) 62.449 1,218.58
9-30-99 Contract Fee (1.00) 19.14835498 (0.052) 62.397 1,194.80
9-30-00 Contract Fee (1.00) 20.17157532 (0.050) 62.347 1,257.64
9-30-00 Value before Surr Chg 20.17157532 0.000 62.347 1,257.64
9-30-00 Surrender Charge 0.00 20.17157532 0.000 62.347 1,257.64
Cumulative Total Returns without/with chrgs. 26.31% A 25.76% C
Avg. Annual Total Returns without/with chrgs. 4.78% B 4.69% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/5 Years)]-1 C = (Accumulated Value as of September 30,
2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/5 Years)]-1
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - TRADITIONAL
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1990
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Global Utilities Securities
<S> <C> <C> <C> <C> <C> <C>
9-30-90 Purchase $1,000.00 $10.92260422 91.553 91.553 $1,000.00
9-30-91 Contract Fee (1.00) 13.81939012 (0.072) 91.481 1,264.21
9-30-92 Contract Fee (1.00) 15.75013321 (0.063) 91.417 1,439.84
9-30-93 Contract Fee (1.00) 18.28505545 (0.055) 91.363 1,670.57
9-30-94 Contract Fee (1.00) 15.05825567 (0.066) 91.296 1,374.76
9-30-95 Contract Fee (1.00) 18.30540399 (0.055) 91.242 1,670.22
9-30-96 Contract Fee (1.00) 20.05201029 (0.050) 91.192 1,828.58
9-30-97 Contract Fee (1.00) 23.32989770 (0.043) 91.149 2,126.50
9-30-98 Contract Fee (1.00) 26.60140627 (0.038) 91.111 2,423.69
9-30-99 Contract Fee (1.00) 30.45839455 (0.033) 91.079 2,774.11
9-30-00 Contract Fee (1.00) 34.35842426 (0.029) 91.049 3,128.31
9-30-00 Value before Surr Chg 34.35842426 0.000 91.049 3,128.31
9-30-00 Surrender Charge 0.00 34.35842426 0.000 91.049 3,128.31
Cumulative Total Returns 214.56% A 212.83% C
Average Annual Total Returns 12.14% B 12.08% D
Growth and Income
9-30-90 Purchase $1,000.00 $9.18199079 108.909 108.909 $1,000.00
9-30-91 Contract Fee (1.00) 11.21021186 (0.089) 108.820 1,219.89
9-30-92 Contract Fee (1.00) 11.92336295 (0.084) 108.736 1,296.50
9-30-93 Contract Fee (1.00) 13.18665153 (0.076) 108.660 1,432.86
9-30-94 Contract Fee (1.00) 13.55532930 (0.074) 108.586 1,471.92
9-30-95 Contract Fee (1.00) 16.42965559 (0.061) 108.525 1,783.03
9-30-96 Contract Fee (1.00) 18.46480754 (0.054) 108.471 2,002.90
9-30-97 Contract Fee (1.00) 24.23369745 (0.041) 108.430 2,627.66
9-30-98 Contract Fee (1.00) 24.70266303 (0.040) 108.389 2,677.51
9-30-99 Contract Fee (1.00) 26.59652234 (0.038) 108.352 2,881.78
9-30-00 Contract Fee (1.00) 29.50090582 (0.034) 108.318 3,195.48
9-30-00 Value before Surr Chg 29.50090582 0.000 108.318 3,195.48
9-30-00 Surrender Charge 0.00 29.50090582 0.000 108.318 3,195.48
Cumulative Total Returns 221.29% A 219.55% C
Average Annual Total Returns 12.38% B 12.32% D
High Income
9-30-90 Purchase $1,000.00 $9.09255555 109.980 109.980 $1,000.00
9-30-91 Contract Fee (1.00) 11.19048833 (0.089) 109.891 1,229.73
9-30-92 Contract Fee (1.00) 13.20270100 (0.076) 109.815 1,449.85
9-30-93 Contract Fee (1.00) 14.63171231 (0.068) 109.747 1,605.78
9-30-94 Contract Fee (1.00) 14.77708761 (0.068) 109.679 1,620.74
9-30-95 Contract Fee (1.00) 17.11981520 (0.058) 109.621 1,876.68
9-30-96 Contract Fee (1.00) 19.00080872 (0.053) 109.568 2,081.88
9-30-97 Contract Fee (1.00) 21.54525858 (0.046) 109.522 2,359.67
9-30-98 Contract Fee (1.00) 21.04116586 (0.048) 109.474 2,303.46
9-30-99 Contract Fee (1.00) 21.27646428 (0.047) 109.427 2,328.22
9-30-00 Contract Fee (1.00) 20.31866026 (0.049) 109.378 2,222.41
9-30-00 Value before Surr Chg 20.31866026 0.000 109.378 2,222.41
9-30-00 Surrender Charge 0.00 20.31866026 0.000 109.378 2,222.41
Cumulative Total Returns 123.46% A 122.24% C
Average Annual Total Returns 8.37% B 8.31% D
Income Securities
9-30-90 Purchase $1,000.00 $9.92512148 100.754 100.754 $1,000.00
9-30-91 Contract Fee (1.00) 13.06171862 (0.077) 100.678 1,315.03
9-30-92 Contract Fee (1.00) 15.22683950 (0.066) 100.612 1,532.01
9-30-93 Contract Fee (1.00) 17.44102523 (0.057) 100.555 1,753.78
9-30-94 Contract Fee (1.00) 17.08547253 (0.059) 100.496 1,717.03
9-30-95 Contract Fee (1.00) 19.34737911 (0.052) 100.445 1,943.34
9-30-96 Contract Fee (1.00) 21.10212963 (0.047) 100.397 2,118.60
9-30-97 Contract Fee (1.00) 24.61777380 (0.041) 100.357 2,470.56
9-30-98 Contract Fee (1.00) 25.14641718 (0.040) 100.317 2,522.61
9-30-99 Contract Fee (1.00) 25.43845220 (0.039) 100.278 2,550.91
9-30-00 Contract Fee (1.00) 28.64788159 (0.035) 100.243 2,871.74
9-30-00 Value before Surr Chg 28.64788159 0.000 100.243 2,871.74
9-30-00 Surrender Charge 0.00 28.64788159 0.000 100.243 2,871.74
Cumulative Total Returns 188.64% A 187.17% C
Average Annual Total Returns 11.18% B 11.13% D
Money Market
9-30-90 Purchase $1,000.00 $11.15612036 89.637 89.637 $1,000.00
9-30-91 Contract Fee (1.00) 11.72411347 (0.085) 89.552 1,049.91
9-30-92 Contract Fee (1.00) 12.00205037 (0.083) 89.468 1,073.80
9-30-93 Contract Fee (1.00) 12.16658709 (0.082) 89.386 1,087.52
9-30-94 Contract Fee (1.00) 12.41700911 (0.081) 89.306 1,108.91
9-30-95 Contract Fee (1.00) 12.96262617 (0.077) 89.228 1,156.63
9-30-96 Contract Fee (1.00) 13.48955667 (0.074) 89.154 1,202.65
9-30-97 Contract Fee (1.00) 14.02817185 (0.071) 89.083 1,249.67
9-30-98 Contract Fee (1.00) 14.60302974 (0.068) 89.015 1,299.88
9-30-99 Contract Fee (1.00) 15.08452454 (0.066) 88.948 1,341.74
9-30-00 Contract Fee (1.00) 15.72291849 (0.064) 88.885 1,397.53
9-30-00 Value before Surr Chg 15.72291849 0.000 88.885 1,397.53
9-30-00 Surrender Charge 0.00 15.72291849 0.000 88.885 1,397.53
Cumulative Total Returns 40.94% A 39.75% C
Average Annual Total Returns 3.49% B 3.40% D
Natural Resources Securities
9-30-90 Purchase $1,000.00 $11.29989081 88.496 88.496 $1,000.00
9-30-91 Contract Fee (1.00) 10.51906870 (0.095) 88.401 929.90
9-30-92 Contract Fee (1.00) 10.54021134 (0.095) 88.306 930.77
9-30-93 Contract Fee (1.00) 12.04007887 (0.083) 88.223 1,062.22
9-30-94 Contract Fee (1.00) 15.47419587 (0.065) 88.159 1,364.19
9-30-95 Contract Fee (1.00) 14.62558190 (0.068) 88.090 1,288.37
9-30-96 Contract Fee (1.00) 14.82518913 (0.067) 88.023 1,304.96
9-30-97 Contract Fee (1.00) 14.59151028 (0.069) 87.954 1,283.39
9-30-98 Contract Fee (1.00) 8.77239698 (0.114) 87.840 770.57
9-30-99 Contract Fee (1.00) 11.35453996 (0.088) 87.752 996.39
9-30-00 Contract Fee (1.00) 14.36749455 (0.070) 87.683 1,259.78
9-30-00 Value before Surr Chg 14.36749455 0.000 87.683 1,259.78
9-30-00 Surrender Charge 0.00 14.36749455 0.000 87.683 1,259.78
Cumulative Total Returns 27.15% A 25.98% C
Average Annual Total Returns 2.43% B 2.34% D
Real Estate Securities
9-30-90 Purchase $1,000.00 $8.65731611 115.509 115.509 $1,000.00
9-30-91 Contract Fee (1.00) 11.09201031 (0.090) 115.419 1,280.23
9-30-92 Contract Fee (1.00) 12.41823086 (0.081) 115.339 1,432.30
9-30-93 Contract Fee (1.00) 16.32450674 (0.061) 115.277 1,881.85
9-30-94 Contract Fee (1.00) 15.58616939 (0.064) 115.213 1,795.73
9-30-95 Contract Fee (1.00) 17.53334605 (0.057) 115.156 2,019.07
9-30-96 Contract Fee (1.00) 20.94609264 (0.048) 115.108 2,411.07
9-30-97 Contract Fee (1.00) 28.97920834 (0.035) 115.074 3,334.75
9-30-98 Contract Fee (1.00) 23.92577001 (0.042) 115.032 2,752.23
9-30-99 Contract Fee (1.00) 22.16003195 (0.045) 114.987 2,548.11
9-30-00 Contract Fee (1.00) 27.54159865 (0.036) 114.951 3,165.92
9-30-00 Value before Surr Chg 27.54159865 0.000 114.951 3,165.92
9-30-00 Surrender Charge 0.00 27.54159865 0.000 114.951 3,165.92
Cumulative Total Returns 218.13% A 216.59% C
Average Annual Total Returns 12.27% B 12.21% D
Templeton Global Income Securities
9-30-90 Purchase $1,000.00 $11.41229037 87.625 87.625 $1,000.00
9-30-91 Contract Fee (1.00) 12.60121670 (0.079) 87.545 1,103.18
9-30-92 Contract Fee (1.00) 12.66481231 (0.079) 87.467 1,107.75
9-30-93 Contract Fee (1.00) 14.33242918 (0.070) 87.397 1,252.61
9-30-94 Contract Fee (1.00) 13.98854592 (0.071) 87.325 1,221.55
9-30-95 Contract Fee (1.00) 15.15031575 (0.066) 87.259 1,322.01
9-30-96 Contract Fee (1.00) 16.36575520 (0.061) 87.198 1,427.06
9-30-97 Contract Fee (1.00) 17.40988077 (0.057) 87.141 1,517.11
9-30-98 Contract Fee (1.00) 17.82937797 (0.056) 87.085 1,552.66
9-30-99 Contract Fee (1.00) 17.23230819 (0.058) 87.027 1,499.67
9-30-00 Contract Fee (1.00) 16.45350542 (0.061) 86.966 1,430.89
9-30-00 Value before Surr Chg 16.45350542 0.000 86.966 1,430.89
9-30-00 Surrender Charge 0.00 16.45350542 0.000 86.966 1,430.89
Cumulative Total Returns 44.17% A 43.09% C
Average Annual Total Returns 3.73% B 3.65% D
U.S. Government Securities
9-30-90 Purchase $1,000.00 $10.78528135 92.719 92.719 $1,000.00
9-30-91 Contract Fee (1.00) 12.28377138 (0.081) 92.638 1,137.94
9-30-92 Contract Fee (1.00) 13.70274057 (0.073) 92.565 1,268.39
9-30-93 Contract Fee (1.00) 14.89634248 (0.067) 92.497 1,377.87
9-30-94 Contract Fee (1.00) 13.96415548 (0.072) 92.426 1,290.65
9-30-95 Contract Fee (1.00) 15.97021027 (0.063) 92.363 1,475.06
9-30-96 Contract Fee (1.00) 16.52058734 (0.061) 92.303 1,524.89
9-30-97 Contract Fee (1.00) 17.96228793 (0.056) 92.247 1,656.97
9-30-98 Contract Fee (1.00) 19.51310972 (0.051) 92.196 1,799.03
9-30-99 Contract Fee (1.00) 19.14835498 (0.052) 92.144 1,764.40
9-30-00 Contract Fee (1.00) 20.17157532 (0.050) 92.094 1,857.68
9-30-00 Value before Surr Chg 20.17157532 0.000 92.094 1,857.68
9-30-00 Surrender Charge 0.00 20.17157532 0.000 92.094 1,857.68
Cumulative Total Returns 87.03% A 85.77% C
Average Annual Total Returns 6.46% B 6.39% D
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - TRADITIONAL
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of Sub-Account Inception
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
5-1-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-97 Contract Fee (1.00) $11.21033305 (0.089) 99.911 $1,120.03
5-1-98 Contract Fee (1.00) $14.71990053 (0.068) 99.843 $1,469.68
5-1-99 Contract Fee (1.00) $16.61002651 (0.060) 99.783 $1,657.39
5-1-00 Contract Fee (1.00) $21.84520301 (0.046) 99.737 $2,178.77
9-30-00 Value before Surr Chg $23.56093386 0.000 99.737 $2,349.89
9-30-00 Contract Fee (1.00) $23.56093386 (0.042) 99.694 $2,348.89
9-30-00 Surrender Charge 0.00 $23.56093386 0.000 99.694 $2,348.89
Cumulative Total Returns without/with chgs. 135.61% A 134.89% C
Avg. Annual Total Returns without/with chgs. 21.40% B 21.32% D
Global Health Care Securities
5-1-98 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-99 Contract Fee (1.00) $8.70953660 (0.115) 99.885 $869.95
5-1-00 Contract Fee (1.00) $11.97048500 (0.084) 99.802 $1,194.67
9-30-00 Value before Surr Chg $16.71033384 0.000 99.802 $1,667.72
9-30-00 Contract Fee (1.00) $16.71033384 (0.060) 99.742 $1,666.72
9-30-00 Surrender Charge 0.00 $16.71033384 0.000 99.742 $1,666.72
Cumulative Total Returns without/with chgs. 67.10% A 66.67% C
Avg. Annual Total Returns without/with chgs. 23.64% B 23.51% D
Franklin Global Communications Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 11.50790622 (0.087) 99.913 1,149.79
1-24-91 Contract Fee (1.00) 12.02755131 (0.083) 99.830 1,200.71
1-24-92 Contract Fee (1.00) 14.34100842 (0.070) 99.760 1,430.66
1-24-93 Contract Fee (1.00) 16.12931554 (0.062) 99.698 1,608.06
1-24-94 Contract Fee (1.00) 16.70611204 (0.060) 99.638 1,664.57
1-24-95 Contract Fee (1.00) 15.79967410 (0.063) 99.575 1,573.25
1-24-96 Contract Fee (1.00) 20.15959504 (0.050) 99.525 2,006.39
1-24-97 Contract Fee (1.00) 21.37945936 (0.047) 99.479 2,126.80
1-24-98 Contract Fee (1.00) 25.74908010 (0.039) 99.440 2,560.49
1-24-99 Contract Fee (1.00) 28.77513709 (0.035) 99.405 2,860.40
1-24-00 Contract Fee (1.00) 40.58626563 (0.025) 99.380 4,033.48
9-30-00 Value before Surr Chg 34.35842426 0.000 99.380 3,414.56
9-30-00 Contract Fee (1.00) 34.35842426 (0.029) 99.351 3,413.56
9-30-00 Surrender Charge 0.00 34.35842426 0.000 99.351 3,413.56
Cumulative Total Returns without/with chgs. 243.58% A 241.36% C
Avg. Annual Total Returns without/with chgs. 11.14% B 11.07% D
Growth and Income
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 9.62623481 (0.104) 99.896 961.62
1-24-91 Contract Fee (1.00) 10.09527329 (0.099) 99.797 1,007.48
1-24-92 Contract Fee (1.00) 12.28128171 (0.081) 99.716 1,224.64
1-24-93 Contract Fee (1.00) 12.74339470 (0.078) 99.637 1,269.72
1-24-94 Contract Fee (1.00) 14.33475402 (0.070) 99.567 1,427.27
1-24-95 Contract Fee (1.00) 13.54572423 (0.074) 99.494 1,347.71
1-24-96 Contract Fee (1.00) 17.66231606 (0.057) 99.437 1,756.29
1-24-97 Contract Fee (1.00) 20.33223015 (0.049) 99.388 2,020.78
1-24-98 Contract Fee (1.00) 24.57573546 (0.041) 99.347 2,441.53
1-24-99 Contract Fee (1.00) 26.19699268 (0.038) 99.309 2,601.59
1-24-00 Contract Fee (1.00) 25.77471945 (0.039) 99.270 2,558.66
9-30-00 Value before Surr Chg 29.50090582 0.000 99.270 2,928.56
9-30-00 Contract Fee (1.00) 29.50090582 (0.034) 99.236 2,927.56
9-30-00 Surrender Charge 0.00 29.50090582 0.000 99.236 2,927.56
Cumulative Total Returns without/with chgs. 195.01% A 192.76% C
Avg. Annual Total Returns without/with chgs. 9.70% B 9.62% D
High Income
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.01247263 (0.100) 99.900 1,000.25
1-24-91 Contract Fee (1.00) 9.03854711 (0.111) 99.789 901.95
1-24-92 Contract Fee (1.00) 11.97271866 (0.084) 99.706 1,193.75
1-24-93 Contract Fee (1.00) 13.57642606 (0.074) 99.632 1,352.65
1-24-94 Contract Fee (1.00) 15.54710866 (0.064) 99.568 1,547.99
1-24-95 Contract Fee (1.00) 14.94147808 (0.067) 99.501 1,486.69
1-24-96 Contract Fee (1.00) 17.81404590 (0.056) 99.445 1,771.52
1-24-97 Contract Fee (1.00) 19.85157648 (0.050) 99.395 1,973.14
1-24-98 Contract Fee (1.00) 21.97917663 (0.045) 99.349 2,183.61
1-24-99 Contract Fee (1.00) 21.89789714 (0.046) 99.303 2,174.54
1-24-00 Contract Fee (1.00) 21.36747849 (0.047) 99.257 2,120.86
9-30-00 Value before Surr Chg 20.31866026 0.000 99.257 2,016.76
9-30-00 Contract Fee (1.00) 20.31866026 (0.049) 99.207 2,015.76
9-30-00 Surrender Charge 0.00 20.31866026 0.000 99.207 2,015.76
Cumulative Total Returns without/with chgs. 103.19% A 101.58% C
Avg. Annual Total Returns without/with chgs. 6.25% B 6.18% D
Income Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.73543059 (0.093) 99.907 1,072.54
1-24-91 Contract Fee (1.00) 9.99815906 (0.100) 99.807 997.88
1-24-92 Contract Fee (1.00) 14.13321220 (0.071) 99.736 1,409.59
1-24-93 Contract Fee (1.00) 15.50840939 (0.064) 99.672 1,545.75
1-24-94 Contract Fee (1.00) 17.94491410 (0.056) 99.616 1,787.60
1-24-95 Contract Fee (1.00) 16.60507143 (0.060) 99.556 1,653.13
1-24-96 Contract Fee (1.00) 20.55801167 (0.049) 99.507 2,045.67
1-24-97 Contract Fee (1.00) 22.33600279 (0.045) 99.462 2,221.59
1-24-98 Contract Fee (1.00) 25.29525819 (0.040) 99.423 2,514.92
1-24-99 Contract Fee (1.00) 25.36033669 (0.039) 99.383 2,520.39
1-24-00 Contract Fee (1.00) 25.10765935 (0.040) 99.343 2,494.28
9-30-00 Value before Surr Chg 28.64788159 0.000 99.343 2,845.98
9-30-00 Contract Fee (1.00) 28.64788159 (0.035) 99.309 2,844.98
9-30-00 Surrender Charge 0.00 28.64788159 0.000 99.309 2,844.98
Cumulative Total Returns without/with chgs. 186.48% A 184.50% C
Avg. Annual Total Returns without/with chgs. 9.42% B 9.36% D
Money Market
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.70205023 (0.093) 99.907 1,069.21
1-24-91 Contract Fee (1.00) 11.38081213 (0.088) 99.819 1,136.02
1-24-92 Contract Fee (1.00) 11.84234028 (0.084) 99.734 1,181.09
1-24-93 Contract Fee (1.00) 12.05609140 (0.083) 99.651 1,201.41
1-24-94 Contract Fee (1.00) 12.22281087 (0.082) 99.569 1,217.02
1-24-95 Contract Fee (1.00) 12.57035300 (0.080) 99.490 1,250.62
1-24-96 Contract Fee (1.00) 13.14301293 (0.076) 99.414 1,306.60
1-24-97 Contract Fee (1.00) 13.65590257 (0.073) 99.341 1,356.59
1-24-98 Contract Fee (1.00) 14.20873494 (0.070) 99.270 1,410.50
1-24-99 Contract Fee (1.00) 14.77065051 (0.068) 99.203 1,465.29
1-24-00 Contract Fee (1.00) 15.26438519 (0.066) 99.137 1,513.27
9-30-00 Value before Surr Chg 15.72291849 0.000 99.137 1,558.72
9-30-00 Contract Fee (1.00) 15.72291849 (0.064) 99.073 1,557.72
9-30-00 Surrender Charge 0.00 15.72291849 0.000 99.073 1,557.72
Cumulative Total Returns without/with chgs. 57.23% A 55.77% C
Avg. Annual Total Returns without/with chgs. 3.95% B 3.86% D
Mutual Discovery Securities
11-8-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-8-97 Contract Fee (1.00) $11.86958749 (0.084) 99.916 $1,185.96
11-8-98 Contract Fee (1.00) $11.01552755 (0.091) 99.825 $1,099.62
11-8-99 Contract Fee (1.00) $12.47650287 (0.080) 99.745 $1,244.47
11-8-00 Contract Fee (1.00) $14.92242284 (0.067) 99.678 $1,487.43
9-30-00 Contract Fee (1.00) $14.79587856 (0.068) 99.610 $1,473.82
9-30-00 Value before Surr Chg $14.79587856 0.000 99.610 $1,473.82
9-30-00 Surrender Charge 0.00 $14.79587856 0.000 99.610 $1,473.82
Cumulative Total Returns without/with chgs. 47.96% A 47.38% C
Avg. Annual Total Returns without/with chgs. 10.58% B 10.47% D
Mutual Shares Securities
11-8-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-8-97 Contract Fee (1.00) $11.79041481 (0.085) 99.915 $1,178.04
11-8-98 Contract Fee (1.00) $11.65170967 (0.086) 99.829 $1,163.18
11-8-99 Contract Fee (1.00) $12.97011709 (0.077) 99.752 $1,293.80
11-8-00 Contract Fee (1.00) $14.53053202 (0.069) 99.683 $1,448.45
9-30-00 Value before Surr Chg $14.24289800 0.000 99.683 $1,419.78
9-30-00 Contract Fee (1.00) $14.24289800 (0.070) 99.613 $1,418.78
9-30-00 Surrender Charge 0.00 $14.24289800 0.000 99.613 $1,418.78
Cumulative Total Returns without/with chgs. 42.43% A 41.88% C
Avg. Annual Total Returns without/with chgs. 9.50% B 9.39% D
Natural Resources Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 12.92411155 (0.077) 99.923 1,291.41
1-24-91 Contract Fee (1.00) 9.83089178 (0.102) 99.821 981.33
1-24-92 Contract Fee (1.00) 11.02021358 (0.091) 99.730 1,099.05
1-24-93 Contract Fee (1.00) 9.24294212 (0.108) 99.622 920.80
1-24-94 Contract Fee (1.00) 14.65634646 (0.068) 99.554 1,459.09
1-24-95 Contract Fee (1.00) 13.22526493 (0.076) 99.478 1,315.62
1-24-96 Contract Fee (1.00) 16.26213065 (0.061) 99.417 1,616.73
1-24-97 Contract Fee (1.00) 14.10062734 (0.071) 99.346 1,400.84
1-24-98 Contract Fee (1.00) 10.84455116 (0.092) 99.254 1,076.36
1-24-99 Contract Fee (1.00) 8.47103359 (0.118) 99.135 839.78
1-24-00 Contract Fee (1.00) 11.47979162 (0.087) 99.048 1,137.05
9-30-00 Value before Surr Chg 14.36749455 0.000 99.048 1,423.08
9-30-00 Contract Fee (1.00) 14.36749455 (0.070) 98.979 1,422.08
9-30-00 Surrender Charge 0.00 14.36749455 0.000 98.979 1,422.08
Cumulative Total Returns without/with chgs. 43.67% A 42.21% C
Avg. Annual Total Returns without/with chgs. 3.15% B 3.06% D
Real Estate Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.16102563 (0.098) 99.902 1,015.10
1-24-91 Contract Fee (1.00) 9.42013692 (0.106) 99.795 940.09
1-24-92 Contract Fee (1.00) 12.37158964 (0.081) 99.715 1,233.63
1-24-93 Contract Fee (1.00) 13.67511407 (0.073) 99.641 1,362.61
1-24-94 Contract Fee (1.00) 15.56227214 (0.064) 99.577 1,549.65
1-24-95 Contract Fee (1.00) 15.22987254 (0.066) 99.512 1,515.55
1-24-96 Contract Fee (1.00) 18.47157231 (0.054) 99.457 1,837.13
1-24-97 Contract Fee (1.00) 24.42960560 (0.041) 99.416 2,428.71
1-24-98 Contract Fee (1.00) 28.67208329 (0.035) 99.382 2,849.48
1-24-99 Contract Fee (1.00) 23.31759520 (0.043) 99.339 2,316.34
1-24-00 Contract Fee (1.00) 22.22638143 (0.045) 99.294 2,206.94
9-30-00 Value before Surr Chg 27.54159865 0.000 99.294 2,734.71
9-30-00 Contract Fee (1.00) 27.54159865 (0.036) 99.257 2,733.71
9-30-00 Surrender Charge 0.00 27.54159865 0.000 99.257 2,733.71
Cumulative Total Returns without/with chgs. 175.42% A 173.37% C
Avg. Annual Total Returns without/with chgs. 9.05% B 8.98% D
Rising Dividends
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $10.72333397 (0.093) 99.907 1,071.33
1-27-94 Contract Fee (1.00) $10.43517673 (0.096) 99.811 1,041.54
1-27-95 Contract Fee (1.00) $10.04701524 (0.100) 99.711 1,001.80
1-27-96 Contract Fee (1.00) $12.65806816 (0.079) 99.632 1,261.15
1-27-97 Contract Fee (1.00) $15.46696526 (0.065) 99.568 1,540.01
1-27-98 Contract Fee (1.00) $20.13622160 (0.050) 99.518 2,003.92
1-27-99 Contract Fee (1.00) $20.18300018 (0.050) 99.469 2,007.57
1-27-00 Contract Fee (1.00) $18.47628135 (0.054) 99.414 1,836.81
9-30-00 Value before Surr Chg $20.00137548 0.000 99.414 1,988.42
9-30-00 Contract Fee (1.00) $20.00137548 (0.050) 99.364 1,987.42
9-30-00 Surrender Charge 0.00 $20.00137548 0.000 99.364 1,987.42
Cumulative Total Returns without/with chgs. 100.01% A 98.74% C
Avg. Annual Total Returns without/with chgs. 8.31% B 8.23% D
Small Cap
11-1-95 Purchase $1,000.00 $10.00013699 99.999 99.999 $1,000.00
11-1-96 Contract Fee (1.00) $12.18879026 (0.082) 99.917 $1,217.86
11-1-97 Contract Fee (1.00) $15.64277862 (0.064) 99.853 $1,561.97
11-1-98 Contract Fee (1.00) $12.62749993 (0.079) 99.773 $1,259.89
11-1-99 Contract Fee (1.00) $20.11557342 (0.050) 99.724 $2,006.00
11-1-00 Contract Fee (1.00) $27.98094046 (0.036) 99.688 $2,789.36
9-30-00 Value before Surr Chg $30.32804321 0.000 99.688 $3,023.34
9-30-00 Contract Fee (1.00) $30.32804321 (0.033) 99.655 $3,022.34
9-30-00 Surrender Charge 0.00 $30.32804321 0.000 99.655 $3,022.34
Cumulative Total Returns without/with chgs. 203.28% A 202.23% C
Avg. Annual Total Returns without/with chgs. 25.31% B 25.22% D
Templeton Developing Markets Equity
3-15-94 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-15-95 Contract Fee (1.00) $8.64994828 (0.116) 99.884 863.99
3-15-96 Contract Fee (1.00) $10.34752088 (0.097) 99.788 1,032.56
3-15-97 Contract Fee (1.00) $12.54712854 (0.080) 99.708 1,251.05
3-15-98 Contract Fee (1.00) $10.65808371 (0.094) 99.614 1,061.70
3-15-99 Contract Fee (1.00) $8.32723478 (0.120) 99.494 828.51
3-15-00 Contract Fee (1.00) $11.63140183 (0.086) 99.408 1,156.26
9-30-00 Value before Surr Chg $9.32284552 0.000 99.408 926.77
9-30-00 Contract Fee (1.00) $9.32284552 (0.107) 99.301 925.77
9-30-00 Surrender Charge 0.00 $9.32284552 0.000 99.301 925.77
Cumulative Total Returns without/with chgs. -6.77% A -7.42% C
Avg. Annual Total Returns without/with chgs. -1.06% B -1.17% D
Templeton Global Asset Allocation
5-1-95 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-96 Contract Fee (1.00) $11.28171238 (0.089) 99.911 $1,127.17
5-1-97 Contract Fee (1.00) $12.83816890 (0.078) 99.833 $1,281.68
5-1-98 Contract Fee (1.00) $15.10648489 (0.066) 99.767 $1,507.13
5-1-99 Contract Fee (1.00) $17.39801282 (0.057) 99.710 $1,734.75
5-1-00 Contract Fee (1.00) $17.22907667 (0.058) 99.652 $1,716.91
9-30-00 Value before Surr Chg $16.97555682 0.000 99.652 $1,691.64
9-30-00 Contract Fee (1.00) $16.97555682 (0.059) 99.593 $1,690.64
9-30-00 Surrender Charge 0.00 $16.97555682 0.000 99.593 $1,690.64
Cumulative Total Returns without/with chgs. 69.76% A 69.06% C
Avg. Annual Total Returns without/with chgs. 10.25% B 10.17% D
Templeton Global Growth
3-15-94 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-15-95 Contract Fee (1.00) $10.12890456 (0.099) 99.901 $1,011.89
3-15-96 Contract Fee (1.00) $11.87476901 (0.084) 99.817 $1,185.30
3-15-97 Contract Fee (1.00) $14.20587593 (0.070) 99.747 $1,416.99
3-15-98 Contract Fee (1.00) $16.91072518 (0.059) 99.688 $1,685.79
3-15-99 Contract Fee (1.00) $16.38894620 (0.061) 99.627 $1,632.77
3-15-00 Contract Fee (1.00) $17.80443603 (0.056) 99.570 $1,772.79
9-30-00 Value before Surr Chg $18.76438544 0.000 99.570 $1,868.38
9-30-00 Contract Fee (1.00) $18.76438544 (0.053) 99.517 $1,867.38
9-30-00 Surrender Charge 0.00 $18.76438544 0.000 99.517 $1,867.38
Cumulative Total Returns without/with chgs. 87.64% A 86.74% C
Avg. Annual Total Returns without/with chgs. 10.08% B 10.00% D
Templeton Global Income Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.88398360 (0.092) 99.908 1,087.40
1-24-91 Contract Fee (1.00) 11.83869981 (0.084) 99.824 1,181.78
1-24-92 Contract Fee (1.00) 13.05248195 (0.077) 99.747 1,301.95
1-24-93 Contract Fee (1.00) 12.91910072 (0.077) 99.670 1,287.64
1-24-94 Contract Fee (1.00) 15.01473916 (0.067) 99.603 1,495.51
1-24-95 Contract Fee (1.00) 13.77770469 (0.073) 99.530 1,371.30
1-24-96 Contract Fee (1.00) 15.71569560 (0.064) 99.467 1,563.19
1-24-97 Contract Fee (1.00) 16.90858213 (0.059) 99.408 1,680.84
1-24-98 Contract Fee (1.00) 17.45374440 (0.057) 99.350 1,734.04
1-24-99 Contract Fee (1.00) 18.42079303 (0.054) 99.296 1,829.11
1-24-00 Contract Fee (1.00) 16.91242834 (0.059) 99.237 1,678.34
9-30-00 Value before Surr Chg 16.45350542 0.000 99.237 1,632.80
9-30-00 Contract Fee (1.00) 16.45350542 (0.061) 99.176 1,631.80
9-30-00 Surrender Charge 0.00 16.45350542 0.000 99.176 1,631.80
Cumulative Total Returns without/with chgs. 64.54% A 63.18% C
Avg. Annual Total Returns without/with chgs. 4.35% B 4.28% D
Templeton International Equity
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $9.56592616 (0.105) 99.895 $955.59
1-27-94 Contract Fee (1.00) $12.93980952 (0.077) 99.818 $1,291.63
1-27-95 Contract Fee (1.00) $12.03228459 (0.083) 99.735 $1,200.04
1-27-96 Contract Fee (1.00) $13.71077886 (0.073) 99.662 $1,366.45
1-27-97 Contract Fee (1.00) $16.42220499 (0.061) 99.601 $1,635.67
1-27-98 Contract Fee (1.00) $17.80157689 (0.056) 99.545 $1,772.06
1-27-99 Contract Fee (1.00) $18.14800537 (0.055) 99.490 $1,805.54
1-27-00 Contract Fee (1.00) $22.05721095 (0.045) 99.445 $2,193.47
9-30-00 Value before Surr Chg $21.64451470 0.000 99.445 $2,152.43
9-30-00 Contract Fee (1.00) $21.64451470 (0.046) 99.398 $2,151.43
9-30-00 Surrender Charge 0.00 $21.64451470 0.000 99.398 $2,151.43
Cumulative Total Returns without/with chgs. 116.45% A 115.14% C
Avg. Annual Total Returns without/with chgs. 9.30% B 9.23% D
Templeton International Smaller Companies
5-1-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-97 Contract Fee (1.00) $11.35861787 (0.088) 99.912 $1,134.86
5-1-98 Contract Fee (1.00) $12.11635223 (0.083) 99.829 $1,209.57
5-1-99 Contract Fee (1.00) $10.44299393 (0.096) 99.734 $1,041.52
5-1-00 Contract Fee (1.00) $11.67776328 (0.086) 99.648 $1,163.67
9-30-00 Value before Surr Chg $11.54864388 0.000 99.648 $1,150.80
9-30-00 Contract Fee (1.00) $11.54864388 (0.087) 99.561 $1,149.80
9-30-00 Surrender Charge 0.00 $11.54864388 0.000 99.561 $1,149.80
Cumulative Total Returns without/with chgs. 15.49% A 14.98% C
Avg. Annual Total Returns without/with chgs. 3.31% B 3.21% D
Templeton Pacific Growth
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $9.95172877 (0.100) 99.900 $994.17
1-27-94 Contract Fee (1.00) $14.17014828 (0.071) 99.829 $1,414.59
1-27-95 Contract Fee (1.00) $12.03566472 (0.083) 99.746 $1,200.51
1-27-96 Contract Fee (1.00) $14.63990240 (0.068) 99.678 $1,459.27
1-27-97 Contract Fee (1.00) $14.83537903 (0.067) 99.610 $1,477.75
1-27-98 Contract Fee (1.00) $8.59356587 (0.116) 99.494 $855.01
1-27-99 Contract Fee (1.00) $8.00354454 (0.125) 99.369 $795.30
1-27-00 Contract Fee (1.00) $10.67618254 (0.094) 99.275 $1,059.88
9-30-00 Value before Surr Chg $8.83109817 0.000 99.275 $876.71
9-30-00 Contract Fee (1.00) $8.83109817 (0.113) 99.162 $875.71
9-30-00 Surrender Charge 0.00 $8.83109817 0.000 99.162 $875.71
Cumulative Total Returns without/with chgs. -11.69% A -12.43% C
Avg. Annual Total Returns without/with chgs. -1.42% B -1.52% D
U.S. Government Securities
3-14-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-14-90 Contract Fee (1.00) 10.33322715 (0.097) 99.903 1,032.32
3-14-91 Contract Fee (1.00) 11.51900672 (0.087) 99.816 1,149.79
3-14-92 Contract Fee (1.00) 12.49298132 (0.080) 99.736 1,246.00
3-14-93 Contract Fee (1.00) 14.24234227 (0.070) 99.666 1,419.48
3-14-94 Contract Fee (1.00) 14.44595766 (0.069) 99.597 1,438.77
3-14-95 Contract Fee (1.00) 14.89435916 (0.067) 99.530 1,482.43
3-14-96 Contract Fee (1.00) 16.20530790 (0.062) 99.468 1,611.91
3-14-97 Contract Fee (1.00) 17.06365018 (0.059) 99.409 1,696.29
3-14-98 Contract Fee (1.00) 18.60606418 (0.054) 99.356 1,848.62
3-14-99 Contract Fee (1.00) 19.41315161 (0.052) 99.304 1,927.81
3-14-00 Contract Fee (1.00) 19.15030800 (0.052) 99.252 1,900.71
9-30-00 Value before Surr Chg 20.17157532 0.000 99.252 2,002.07
9-30-00 Contract Fee (1.00) 20.17157532 (0.050) 99.202 2,001.07
9-30-00 Surrender Charge 0.00 20.17157532 0.000 99.202 2,001.07
Cumulative Total Returns without/with chgs. 101.72% A 100.11% C
Avg. Annual Total Returns without/with chgs. 6.26% B 6.19% D
Value Securities
5-1-98 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-99 Contract Fee ($1.00) $7.80991364 (0.128) 99.872 $779.99
5-1-00 Contract Fee ($1.00) $8.23477573 (0.121) 99.751 $821.42
9-30-00 Value before Surr Chg $8.83139430 0.000 99.751 $880.94
9-30-00 Contract Fee (1.00) $8.83139430 (0.113) 99.637 $879.94
9-30-00 Surrender Charge 0.00 $8.83139430 0.000 99.637 $879.94
Cumulative Total Returns without/with chgs. -11.69% A -12.01% C
Avg. Annual Total Returns without/with chgs. -5.01% B -5.15% D
SP Jennison Int'l Growth
12-15-00 Purchase $1,000.00 $8.91731443 112.141 112.141 $1,000.00
9-30-00 Value before Surr Chg $8.83139430 0.000 112.141 $990.36
9-30-00 Contract Fee (1.00) $8.83139430 (0.113) 112.028 $989.36
9-30-00 Surrender Charge 0.00 $8.83139430 0.000 112.028 $989.36
Cumulative Total Returns without/with chgs. -0.96% A -1.06% C
Avg. Annual Total Returns without/with chgs. 4.76% B 5.27% D
SP Strategic Partners Focused Growth
12-15-00 Purchase $1,000.00 $8.91731443 112.141 112.141 $1,000.00
9-30-00 Value before Surr Chg $8.83139430 0.000 112.141 $990.36
9-30-00 Contract Fee (1.00) $8.83139430 (0.113) 112.028 $989.36
9-30-00 Surrender Charge 0.00 $8.83139430 0.000 112.028 $989.36
Cumulative Total Returns without/with chgs. -0.96% A -1.06% C
Avg. Annual Total Returns without/with chgs. 4.76% B 5.27% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/Years since Inception)]-1 C = (Accumulated Value as of
September 30, 2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/Years since Inception)]-1
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - ENHANCED
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1999
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
9-30-99 Purchase $1,000.00 $16.49699960 60.617 60.617 $1,000.00
9-30-00 Contract Fee (1.00) $23.35372296 (0.043) 60.574 1,414.63
9-30-00 Value before Surr Chg $23.35372296 0.000 60.574 1,414.63
9-30-00 Surrender Charge 0.00 $23.35372296 0.000 60.574 1,414.63
Cumulative and Average Annual Total Returns
without/with charges 41.56% A 41.46% B
Global Health Care Securities
9-30-99 Purchase $1,000.00 $8.05344201 124.171 124.171 $1,000.00
9-30-00 Contract Fee (1.00) $16.62976241 (0.060) 124.110 2,063.93
9-30-00 Value before Surr Chg $16.62976241 0.000 124.110 2,063.93
9-30-00 Surrender Charge 0.00 $16.62976241 0.000 124.110 2,063.93
Cumulative and Average Annual Total Returns
without/with charges 106.49% A 106.39% B
Global Utilities Securities
9-30-99 Purchase $1,000.00 $29.82416984 33.530 33.530 $1,000.00
9-30-00 Contract Fee (1.00) 33.57576344 (0.030) 33.500 1,124.79
9-30-00 Value before Surr Chg 33.57576344 0.000 33.500 1,124.79
9-30-00 Surrender Charge 0.00 33.57576344 0.000 33.500 1,124.79
Cumulative and Average Annual Total Returns
without/with charges 12.58% A 12.48% B
Growth and Income
9-30-99 Purchase $1,000.00 $26.04271207 38.398 38.398 $1,000.00
9-30-00 Contract Fee (1.00) 28.82889586 (0.035) 38.364 1,105.99
9-30-00 Value before Surr Chg 28.82889586 0.000 38.364 1,105.99
9-30-00 Surrender Charge 0.00 28.82889586 0.000 38.364 1,105.99
Cumulative and Average Annual Total Returns
without/with charges 10.70% A 10.60% B
High Income
9-30-99 Purchase $1,000.00 $20.83343176 48.000 48.000 $1,000.00
9-30-00 Contract Fee (1.00) 19.85581542 (0.050) 47.949 952.07
9-30-00 Value before Surr Chg 19.85581542 0.000 47.949 952.07
9-30-00 Surrender Charge 0.00 19.85581542 0.000 47.949 952.07
Cumulative and Average Annual Total Returns
without/with charges -4.69% A -4.79% B
Income Securities
9-30-99 Purchase $1,000.00 $24.90875603 40.147 40.147 $1,000.00
9-30-00 Contract Fee (1.00) 27.99530292 (0.036) 40.111 1,122.91
9-30-00 Value before Surr Chg 27.99530292 0.000 40.111 1,122.91
9-30-00 Surrender Charge 0.00 27.99530292 0.000 40.111 1,122.91
Cumulative and Average Annual Total Returns
without/with charges 12.39% A 12.29% B
Money Market
9-30-99 Purchase $1,000.00 $14.77042465 67.703 67.703 $1,000.00
9-30-00 Contract Fee (1.00) 15.36476142 (0.065) 67.638 1,039.24
9-30-00 Value before Surr Chg 15.36476142 0.000 67.638 1,039.24
9-30-00 Surrender Charge 0.00 15.36476142 0.000 67.638 1,039.24
Cumulative and Average Annual Total Returns
without/with charges 4.02% A 3.92% B
Mutual Discovery Securities
9-30-99 Purchase $1,000.00 $12.00394161 83.306 83.306 $1,000.00
9-30-00 Contract Fee (1.00) $14.68135275 (0.068) 83.238 1,222.04
9-30-00 Value before Surr Chg $14.68135275 0.000 83.238 1,222.04
9-30-00 Surrender Charge 0.00 $14.68135275 0.000 83.238 1,222.04
Cumulative and Average Annual Total Returns
without/with charges 22.30% A 22.20% B
Mutual Shares Securities
9-30-99 Purchase $1,000.00 $12.31806916 81.182 81.182 $1,000.00
9-30-00 Contract Fee (1.00) $14.13265247 (0.071) 81.111 1,146.31
9-30-00 Value before Surr Chg $14.13265247 0.000 81.111 1,146.31
9-30-00 Surrender Charge 0.00 $14.13265247 0.000 81.111 1,146.31
Cumulative and Average Annual Total Returns
without/with charges 14.73% A 14.63% B
Natural Resources Securities
9-30-99 Purchase $1,000.00 $11.11810827 89.943 89.943 $1,000.00
9-30-00 Contract Fee (1.00) 14.04021309 (0.071) 89.872 1,261.82
9-30-00 Value before Surr Chg 14.04021309 0.000 89.872 1,261.82
9-30-00 Surrender Charge 0.00 14.04021309 0.000 89.872 1,261.82
Cumulative and Average Annual Total Returns
without/with charges 26.28% A 26.18% B
Real Estate Securities
9-30-99 Purchase $1,000.00 $21.69860120 46.086 46.086 $1,000.00
9-30-00 Contract Fee (1.00) 26.91422033 (0.037) 46.049 1,239.37
9-30-00 Value before Surr Chg 26.91422033 0.000 46.049 1,239.37
9-30-00 Surrender Charge 0.00 26.91422033 0.000 46.049 1,239.37
Cumulative and Average Annual Total Returns
without/with charges 24.04% A 23.94% B
Rising Dividends
9-30-99 Purchase $1,000.00 $19.17250112 52.158 52.158 $1,000.00
9-30-00 Contract Fee (1.00) $19.65983762 (0.051) 52.107 1,024.42
9-30-00 Value before Surr Chg $19.65983762 0.000 52.107 1,024.42
9-30-00 Surrender Charge 0.00 $19.65983762 0.000 52.107 1,024.42
Cumulative and Average Annual Total Returns
without/with charges 2.54% A 2.44% B
Small Cap
9-30-99 Purchase $1,000.00 $17.66561008 56.607 56.607 $1,000.00
9-30-00 Contract Fee (1.00) $30.03102256 (0.033) 56.574 1,698.97
9-30-00 Value before Surr Chg $30.03102256 0.000 56.574 1,698.97
9-30-00 Surrender Charge 0.00 $30.03102256 0.000 56.574 1,698.97
Cumulative and Average Annual Total Returns
without/with charges 70.00% A 69.90% B
Templeton Developing Markets Equity
9-30-99 Purchase $1,000.00 $9.64618714 103.668 103.668 $1,000.00
9-30-00 Contract Fee (1.00) $9.20154138 (0.109) 103.559 952.90
9-30-00 Value before Surr Chg $9.20154138 0.000 103.559 952.90
9-30-00 Surrender Charge 0.00 $9.20154138 0.000 103.559 952.90
Cumulative and Average Annual Total Returns
without/with charges -4.61% A -4.71% B
Templeton Global Asset Allocation
9-30-99 Purchase $1,000.00 $16.47578852 60.695 60.695 $1,000.00
9-30-00 Contract Fee (1.00) $16.79126082 (0.060) 60.636 $1,018.15
9-30-00 Value before Surr Chg $16.79126082 0.000 60.636 $1,018.15
9-30-00 Surrender Charge 0.00 $16.79126082 0.000 60.636 $1,018.15
Cumulative and Average Annual Total Returns
without/with charges 1.91% A 1.81% B
Templeton Global Growth
9-30-99 Purchase $1,000.00 $17.50027648 57.142 57.142 $1,000.00
9-30-00 Contract Fee (1.00) $18.52023276 (0.054) 57.088 1,057.28
9-30-00 Value before Surr Chg $18.52023276 0.000 57.088 1,057.28
9-30-00 Surrender Charge 0.00 $18.52023276 0.000 57.088 1,057.28
Cumulative and Average Annual Total Returns
without/with charges 5.83% A 5.73% B
Templeton Global Income Securities
9-30-99 Purchase $1,000.00 $16.87348574 59.265 59.265 $1,000.00
9-30-00 Contract Fee (1.00) 16.07870610 (0.062) 59.202 951.90
9-30-00 Value before Surr Chg 16.07870610 0.000 59.202 951.90
9-30-00 Surrender Charge 0.00 16.07870610 0.000 59.202 951.90
Cumulative and Average Annual Total Returns
without/with charges -4.71% A -4.81% B
Templeton International Equity
9-30-99 Purchase $1,000.00 $19.86915615 50.329 50.329 $1,000.00
9-30-00 Contract Fee (1.00) $21.27491905 (0.047) 50.282 1,069.75
9-30-00 Value before Surr Chg $21.27491905 0.000 50.282 1,069.75
9-30-00 Surrender Charge 0.00 $21.27491905 0.000 50.282 1,069.75
Cumulative and Average Annual Total Returns
without/with charges 7.08% A 6.98% B
Templeton International Smaller Companies
9-30-99 Purchase $1,000.00 $10.83654533 92.280 92.280 $1,000.00
9-30-00 Contract Fee (1.00) $11.44707724 (0.087) 92.193 1,055.34
9-30-00 Value before Surr Chg $11.44707724 0.000 92.193 1,055.34
9-30-00 Surrender Charge 0.00 $11.44707724 0.000 92.193 1,055.34
Cumulative and Average Annual Total Returns
without/with charges 5.63% A 5.53% B
Templeton Pacific Growth
9-30-99 Purchase $1,000.00 $9.98023426 100.198 100.198 $1,000.00
9-30-00 Contract Fee (1.00) $8.68030082 (0.115) 100.083 868.75
9-30-00 Value before Surr Chg $8.68030082 0.000 100.083 868.75
9-30-00 Surrender Charge 0.00 $8.68030082 0.000 100.083 868.75
Cumulative and Average Annual Total Returns
without/with charges -13.03% A -13.13% B
U.S. Government Securities
9-30-99 Purchase $1,000.00 $18.74963535 53.334 53.334 $1,000.00
9-30-00 Contract Fee (1.00) 19.71208097 (0.051) 53.284 1,050.33
9-30-00 Value before Surr Chg 19.71208097 0.000 53.284 1,050.33
9-30-00 Surrender Charge 0.00 19.71208097 0.000 53.284 1,050.33
Cumulative and Average Annual Total Returns
without/with charges 5.13% A 5.03% B
Value Securities
9-30-99 Purchase $1,000.00 $7.43415777 134.514 134.514 $1,000.00
9-30-00 Contract Fee (1.00) $8.82357043 (0.113) 134.401 1,185.90
9-30-00 Value before Surr Chg $8.82357043 0.000 134.401 1,185.90
9-30-00 Surrender Charge 0.00 $8.82357043 0.000 134.401 1,185.90
Cumulative and Average Annual Total Returns
without/with charges 18.69% A 18.59% B
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = (Accumulated Value as of September 30, 2000 - Accum. Value at
Purch.)/Accum. Value at Purch.
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - ENHANCED
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1997
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
9-30-97 Purchase $1,000.00 $13.48017057 74.183 74.183 $1,000.00
9-30-98 Contract Fee (1.00) $13.06929424 (0.077) 74.107 968.52
9-30-99 Contract Fee (1.00) $16.49699960 (0.061) 74.046 1,221.54
9-30-00 Contract Fee (1.00) $23.35372296 (0.043) 74.003 1,728.25
9-30-00 Value before Surr Chg $23.35372296 0.000 74.003 1,728.25
9-30-00 Surrender Charge 0.00 $23.35372296 0.000 74.003 1,728.25
Cumulative Total Returns without/with chrgs. 73.25% A 72.82% C
Avg. Annual Total Returns without/with chrgs. 20.10% B 20.01% D
Global Utilities Securities
9-30-97 Purchase $1,000.00 $22.93567276 43.600 43.600 $1,000.00
9-30-98 Contract Fee (1.00) 26.09964484 (0.038) 43.562 1,136.95
9-30-99 Contract Fee (1.00) 29.82416984 (0.034) 43.528 1,298.20
9-30-00 Contract Fee (1.00) 33.57576344 (0.030) 43.499 1,460.50
9-30-00 Value before Surr Chg 33.57576344 0.000 43.499 1,460.50
9-30-00 Surrender Charge 0.00 33.57576344 0.000 43.499 1,460.50
Cumulative Total Returns without/with chrgs. 46.39% A 46.05% C
Avg. Annual Total Returns without/with chrgs. 13.55% B 13.46% D
Growth and Income
9-30-97 Purchase $1,000.00 $23.82420025 41.974 41.974 $1,000.00
9-30-98 Contract Fee (1.00) 24.23671611 (0.041) 41.933 1,016.31
9-30-99 Contract Fee (1.00) 26.04271207 (0.038) 41.894 1,091.05
9-30-00 Contract Fee (1.00) 28.82889586 (0.035) 41.860 1,206.77
9-30-00 Value before Surr Chg 28.82889586 0.000 41.860 1,206.77
9-30-00 Surrender Charge 0.00 28.82889586 0.000 41.860 1,206.77
Cumulative Total Returns without/with chrgs. 21.01% A 20.68% C
Avg. Annual Total Returns without/with chrgs. 6.56% B 6.47% D
High Income
9-30-97 Purchase $1,000.00 $21.18119020 47.212 47.212 $1,000.00
9-30-98 Contract Fee (1.00) 20.64428289 (0.048) 47.163 973.65
9-30-99 Contract Fee (1.00) 20.83343176 (0.048) 47.115 981.57
9-30-00 Contract Fee (1.00) 19.85581542 (0.050) 47.065 934.51
9-30-00 Value before Surr Chg 19.85581542 0.000 47.065 934.51
9-30-00 Surrender Charge 0.00 19.85581542 0.000 47.065 934.51
Cumulative Total Returns without/with chrgs. -6.26% A -6.55% C
Avg. Annual Total Returns without/with chrgs. -2.13% B -2.23% D
Income Securities
9-30-97 Purchase $1,000.00 $24.20178654 41.319 41.319 $1,000.00
9-30-98 Contract Fee (1.00) 24.67210008 (0.041) 41.279 1,018.43
9-30-99 Contract Fee (1.00) 24.90875603 (0.040) 41.239 1,027.20
9-30-00 Contract Fee (1.00) 27.99530292 (0.036) 41.203 1,153.49
9-30-00 Value before Surr Chg 27.99530292 0.000 41.203 1,153.49
9-30-00 Surrender Charge 0.00 27.99530292 0.000 41.203 1,153.49
Cumulative Total Returns without/with chrgs. 15.67% A 15.35% C
Avg. Annual Total Returns without/with chrgs. 4.97% B 4.87% D
Money Market
9-30-97 Purchase $1,000.00 $13.79112601 72.510 72.510 $1,000.00
9-30-98 Contract Fee (1.00) 14.32758427 (0.070) 72.441 1,037.90
9-30-99 Contract Fee (1.00) 14.77042465 (0.068) 72.373 1,068.98
9-30-00 Contract Fee (1.00) 15.36476142 (0.065) 72.308 1,110.99
9-30-00 Value before Surr Chg 15.36476142 0.000 72.308 1,110.99
9-30-00 Surrender Charge 0.00 15.36476142 0.000 72.308 1,110.99
Cumulative Total Returns without/with chrgs. 11.41% A 11.10% C
Avg. Annual Total Returns without/with chrgs. 3.67% B 3.57% D
Mutual Discovery Securities
9-30-97 Purchase $1,000.00 $12.20878996 81.908 81.908 $1,000.00
9-30-98 Contract Fee (1.00) $10.38759261 (0.096) 81.812 849.83
9-30-99 Contract Fee (1.00) $12.00394161 (0.083) 81.729 981.07
9-30-00 Contract Fee (1.00) $14.68135275 (0.068) 81.661 1,198.89
9-30-00 Value before Surr Chg $14.68135275 0.000 81.661 1,198.89
9-30-00 Surrender Charge 0.00 $14.68135275 0.000 81.661 1,198.89
Cumulative Total Returns without/with chrgs. 20.25% 19.89%
Avg. Annual Total Returns without/with chrgs. 6.34% 6.23%
Mutual Shares Securities
9-30-97 Purchase $1,000.00 $11.97149138 83.532 83.532 $1,000.00
9-30-98 Contract Fee (1.00) $10.52785894 (0.095) 83.437 878.41
9-30-99 Contract Fee (1.00) $12.31806916 (0.081) 83.356 1,026.78
9-30-00 Contract Fee (1.00) $14.13265247 (0.071) 83.285 1,177.04
9-30-00 Value before Surr Chg $14.13265247 0.000 83.285 1,177.04
9-30-00 Surrender Charge 0.00 $14.13265247 0.000 83.285 1,177.04
Cumulative Total Returns without/with chrgs. 18.05% 17.70%
Avg. Annual Total Returns without/with chrgs. 5.69% 5.58%
Natural Resources Securities
9-30-97 Purchase $1,000.00 $14.34494524 69.711 69.711 $1,000.00
9-30-98 Contract Fee (1.00) 8.60693015 (0.116) 69.595 599.00
9-30-99 Contract Fee (1.00) 11.11810827 (0.090) 69.505 772.76
9-30-00 Contract Fee (1.00) 14.04021309 (0.071) 69.434 974.86
9-30-00 Value before Surr Chg 14.04021309 0.000 69.434 974.86
9-30-00 Surrender Charge 0.00 14.04021309 0.000 69.434 974.86
Cumulative Total Returns without/with chrgs. -2.12% A -2.51% C
Avg. Annual Total Returns without/with chrgs. -0.71% B -0.85% D
Real Estate Securities
9-30-97 Purchase $1,000.00 $28.48952225 35.101 35.101 $1,000.00
9-30-98 Contract Fee (1.00) 23.47447701 (0.043) 35.058 822.97
9-30-99 Contract Fee (1.00) 21.69860120 (0.046) 35.012 759.71
9-30-00 Contract Fee (1.00) 26.91422033 (0.037) 34.975 941.32
9-30-00 Value before Surr Chg 26.91422033 0.000 34.975 941.32
9-30-00 Surrender Charge 0.00 26.91422033 0.000 34.975 941.32
Cumulative Total Returns without/with chrgs. -5.53% A -5.87% C
Avg. Annual Total Returns without/with chrgs. -1.88% B -2.00% D
Rising Dividends
9-30-97 Purchase $1,000.00 $19.76046572 50.606 50.606 $1,000.00
9-30-98 Contract Fee (1.00) $17.85104693 (0.056) 50.550 902.37
9-30-99 Contract Fee (1.00) $19.17250112 (0.052) 50.498 968.17
9-30-00 Contract Fee (1.00) $19.65983762 (0.051) 50.447 991.78
9-30-00 Value before Surr Chg $19.65983762 0.000 50.447 991.78
9-30-00 Surrender Charge 0.00 $19.65983762 0.000 50.447 991.78
Cumulative Total Returns without/with chrgs. -0.51% A -0.82% C
Avg. Annual Total Returns without/with chrgs. -0.17% B -0.27% D
Small Cap
9-30-97 Purchase $1,000.00 $16.28662096 61.400 61.400 $1,000.00
9-30-98 Contract Fee (1.00) $11.79583267 (0.085) 61.315 723.27
9-30-99 Contract Fee (1.00) $17.66561008 (0.057) 61.259 1,082.17
9-30-00 Contract Fee (1.00) $30.03102256 (0.033) 61.225 1,838.66
9-30-00 Value before Surr Chg $30.03102256 0.000 61.225 1,838.66
9-30-00 Surrender Charge 0.00 $30.03102256 0.000 61.225 1,838.66
Cumulative Total Returns without/with charges 84.39% A 83.87% C
Average Annual Total Returns without/with charges 22.63% B 22.51% D
Templeton Developing Markets Equity
9-30-97 Purchase $1,000.00 $13.57726307 73.653 73.653 $1,000.00
9-30-98 Contract Fee (1.00) $6.66633036 (0.150) 73.503 489.99
9-30-99 Contract Fee (1.00) $9.64618714 (0.104) 73.399 708.02
9-30-00 Contract Fee (1.00) $9.20154138 (0.109) 73.290 674.38
9-30-00 Value before Surr Chg $9.20154138 0.000 73.290 674.38
9-30-00 Surrender Charge 0.00 $9.20154138 0.000 73.290 674.38
Cumulative Total Returns without/with chrgs. -32.23% A -32.56% C
Avg. Annual Total Returns without/with chrgs. -12.16% B -12.31% D
Templeton Global Asset Allocation
9-30-97 Purchase $1,000.00 $14.90143310 67.108 67.108 $1,000.00
9-30-98 Contract Fee (1.00) $12.20472233 (0.082) 67.026 818.03
9-30-99 Contract Fee (1.00) $16.47578852 (0.061) 66.965 1,103.30
9-30-00 Contract Fee (1.00) $16.79126082 (0.060) 66.905 1,123.43
9-30-00 Value before Surr Chg $16.79126082 0.000 66.905 1,123.43
9-30-00 Surrender Charge 0.00 $16.79126082 0.000 66.905 1,123.43
Cumulative Total Returns without/with chrgs. 12.68% A 12.34% C
Avg. Annual Total Returns without/with chrgs. 4.06% B 3.96% D
Templeton Global Growth
9-30-97 Purchase $1,000.00 $16.36094935 61.121 61.121 $1,000.00
9-30-98 Contract Fee (1.00) $14.10452115 (0.071) 61.050 861.08
9-30-99 Contract Fee (1.00) $17.50027648 (0.057) 60.993 1,067.40
9-30-00 Contract Fee (1.00) $18.52023276 (0.054) 60.939 1,128.61
9-30-00 Value before Surr Chg $18.52023276 0.000 60.939 1,128.61
9-30-00 Surrender Charge 0.00 $18.52023276 0.000 60.939 1,128.61
Cumulative Total Returns without/with chrgs. 13.20% A 12.86% C
Avg. Annual Total Returns without/with chrgs. 4.22% B 4.12% D
Templeton Global Income Securities
9-30-97 Purchase $1,000.00 $17.11569135 58.426 58.426 $1,000.00
9-30-98 Contract Fee (1.00) 17.49307642 (0.057) 58.369 1,021.05
9-30-99 Contract Fee (1.00) 16.87348574 (0.059) 58.309 983.88
9-30-00 Contract Fee (1.00) 16.07870610 (0.062) 58.247 936.54
9-30-00 Value before Surr Chg 16.07870610 0.000 58.247 936.54
9-30-00 Surrender Charge 0.00 16.07870610 0.000 58.247 936.54
Cumulative Total Returns without/with chrgs. -6.06% A -6.35% C
Avg. Annual Total Returns without/with chrgs. -2.06% B -2.16% D
Templeton International Equity
9-30-97 Purchase $1,000.00 $19.54872205 51.154 51.154 $1,000.00
9-30-98 Contract Fee (1.00) $16.57749534 (0.060) 51.094 847.01
9-30-99 Contract Fee (1.00) $19.86915615 (0.050) 51.044 1,014.19
9-30-00 Contract Fee (1.00) $21.27491905 (0.047) 50.997 1,084.95
9-30-00 Value before Surr Chg $21.27491905 0.000 50.997 1,084.95
9-30-00 Surrender Charge 0.00 $21.27491905 0.000 50.997 1,084.95
Cumulative Total Returns without/with chrgs. 8.83% A 8.49% C
Avg. Annual Total Returns without/with chrgs. 2.86% B 2.76% D
Templeton International Smaller Companies
9-30-97 Purchase $1,000.00 $12.33113532 81.096 81.096 $1,000.00
9-30-98 Contract Fee (1.00) $8.77482750 (0.114) 80.982 710.60
9-30-99 Contract Fee (1.00) $10.83654533 (0.092) 80.889 876.56
9-30-00 Contract Fee (1.00) $11.44707724 (0.087) 80.802 924.95
9-30-00 Value before Surr Chg $11.44707724 0.000 80.802 924.95
9-30-00 Surrender Charge 0.00 $11.44707724 0.000 80.802 924.95
Cumulative Total Returns without/with chrgs. -7.17% A -7.51% C
Avg. Annual Total Returns without/with chrgs. -2.45% B -2.57% D
Templeton Pacific Growth
9-30-97 Purchase $1,000.00 $13.30574107 75.156 75.156 $1,000.00
9-30-98 Contract Fee (1.00) $6.06519932 (0.165) 74.991 454.83
9-30-99 Contract Fee (1.00) $9.98023426 (0.100) 74.890 747.42
9-30-00 Contract Fee (1.00) $8.68030082 (0.115) 74.775 649.07
9-30-00 Value before Surr Chg $8.68030082 0.000 74.775 649.07
9-30-00 Surrender Charge 0.00 $8.68030082 0.000 74.775 649.07
Cumulative Total Returns without/with chrgs. -34.76% A -35.09% C
Avg. Annual Total Returns without/with chrgs. -13.27% B -13.42% D
U.S. Government Securities
9-30-97 Purchase $1,000.00 $17.65876402 56.629 56.629 $1,000.00
9-30-98 Contract Fee (1.00) 19.14504927 (0.052) 56.577 1,083.17
9-30-99 Contract Fee (1.00) 18.74963535 (0.053) 56.524 1,059.80
9-30-00 Contract Fee (1.00) 19.71208097 (0.051) 56.473 1,113.20
9-30-00 Value before Surr Chg 19.71208097 0.000 56.473 1,113.20
9-30-00 Surrender Charge 0.00 19.71208097 0.000 56.473 1,113.20
Cumulative Total Returns without/with chrgs. 11.63% A 11.32% C
Avg. Annual Total Returns without/with chrgs. 3.73% B 3.64% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/3 Years)]-1 C = (Accumulated Value as of September 30,
2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/3 Years)]-1
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - ENHANCED
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1995
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Global Utilities Securities
<S> <C> <C> <C> <C> <C> <C>
9-30-95 Purchase $1,000.00 $18.06841353 55.345 55.345 $1,000.00
9-30-96 Contract Fee (1.00) 19.75264302 (0.051) 55.295 1,092.21
9-30-97 Contract Fee (1.00) 22.93567276 (0.044) 55.251 1,267.22
9-30-98 Contract Fee (1.00) 26.09964484 (0.038) 55.213 1,441.03
9-30-99 Contract Fee (1.00) 29.82416984 (0.034) 55.179 1,645.67
9-30-00 Contract Fee (1.00) 33.57576344 (0.030) 55.149 1,851.68
9-30-00 Value before Surr Chg 33.57576344 0.000 55.149 1,851.68
9-30-00 Surrender Charge 0.00 33.57576344 0.000 55.149 1,851.68
Cumulative Total Returns without/with chrgs. 85.83% A 85.17% C
Avg. Annual Total Returns without/with chrgs. 13.19% B 13.11% D
Growth and Income
9-30-95 Purchase $1,000.00 $16.21694947 61.664 61.664 $1,000.00
9-30-96 Contract Fee (1.00) 18.18913648 (0.055) 61.609 1,120.61
9-30-97 Contract Fee (1.00) 23.82420025 (0.042) 61.567 1,466.78
9-30-98 Contract Fee (1.00) 24.23671611 (0.041) 61.526 1,491.18
9-30-99 Contract Fee (1.00) 26.04271207 (0.038) 61.487 1,601.30
9-30-00 Contract Fee (1.00) 28.82889586 (0.035) 61.453 1,771.61
9-30-00 Value before Surr Chg 28.82889586 0.000 61.453 1,771.61
9-30-00 Surrender Charge 0.00 28.82889586 0.000 61.453 1,771.61
Cumulative Total Returns without/with chrgs. 77.77% A 77.16% C
Avg. Annual Total Returns without/with chrgs. 12.19% B 12.12% D
High Income
9-30-95 Purchase $1,000.00 $16.89817394 59.178 59.178 $1,000.00
9-30-96 Contract Fee (1.00) 18.71713541 (0.053) 59.125 1,106.64
9-30-97 Contract Fee (1.00) 21.18119020 (0.047) 59.077 1,251.33
9-30-98 Contract Fee (1.00) 20.64428289 (0.048) 59.029 1,218.61
9-30-99 Contract Fee (1.00) 20.83343176 (0.048) 58.981 1,228.77
9-30-00 Contract Fee (1.00) 19.85581542 (0.050) 58.931 1,170.11
9-30-00 Value before Surr Chg 19.85581542 0.000 58.931 1,170.11
9-30-00 Surrender Charge 0.00 19.85581542 0.000 58.931 1,170.11
Cumulative Total Returns without/with chrgs. 17.50% A 17.01% C
Avg. Annual Total Returns without/with chrgs. 3.28% B 3.19% D
Income Securities
9-30-95 Purchase $1,000.00 $19.09689875 52.365 52.365 $1,000.00
9-30-96 Contract Fee (1.00) 20.78708456 (0.048) 52.316 1,087.51
9-30-97 Contract Fee (1.00) 24.20178654 (0.041) 52.275 1,265.15
9-30-98 Contract Fee (1.00) 24.67210008 (0.041) 52.235 1,288.74
9-30-99 Contract Fee (1.00) 24.90875603 (0.040) 52.194 1,300.10
9-30-00 Contract Fee (1.00) 27.99530292 (0.036) 52.159 1,460.20
9-30-00 Value before Surr Chg 27.99530292 0.000 52.159 1,460.20
9-30-00 Surrender Charge 0.00 27.99530292 0.000 52.159 1,460.20
Cumulative Total Returns without/with chrgs. 46.60% A 46.02% C
Avg. Annual Total Returns without/with chrgs. 7.95% B 7.87% D
Money Market
9-30-95 Purchase $1,000.00 $12.79480585 78.157 78.157 $1,000.00
9-30-96 Contract Fee (1.00) 13.28816381 (0.075) 78.081 1,037.56
9-30-97 Contract Fee (1.00) 13.79112601 (0.073) 78.009 1,075.83
9-30-98 Contract Fee (1.00) 14.32758427 (0.070) 77.939 1,116.68
9-30-99 Contract Fee (1.00) 14.77042465 (0.068) 77.871 1,150.19
9-30-00 Contract Fee (1.00) 15.36476142 (0.065) 77.806 1,195.48
9-30-00 Value before Surr Chg 15.36476142 0.000 77.806 1,195.48
9-30-00 Surrender Charge 0.00 15.36476142 0.000 77.806 1,195.48
Cumulative Total Returns without/with chrgs. 20.09% A 19.55% C
Avg. Annual Total Returns without/with chrgs. 3.73% B 3.64% D
Natural Resources Securities
9-30-95 Purchase $1,000.00 $14.43623217 69.270 69.270 $1,000.00
9-30-96 Contract Fee (1.00) 14.60385589 (0.068) 69.202 1,010.61
9-30-97 Contract Fee (1.00) 14.34494524 (0.070) 69.132 991.69
9-30-98 Contract Fee (1.00) 8.60693015 (0.116) 69.016 594.01
9-30-99 Contract Fee (1.00) 11.11810827 (0.090) 68.926 766.32
9-30-00 Contract Fee (1.00) 14.04021309 (0.071) 68.855 966.73
9-30-00 Value before Surr Chg 14.04021309 0.000 68.855 966.73
9-30-00 Surrender Charge 0.00 14.04021309 0.000 68.855 966.73
Cumulative Total Returns without/with chrgs. -2.74% A -3.33% C
Avg. Annual Total Returns without/with chrgs. -0.55% B -0.67% D
Real Estate Securities
9-30-95 Purchase $1,000.00 $17.30635102 57.782 57.782 $1,000.00
9-30-96 Contract Fee (1.00) 20.63337714 (0.048) 57.734 1,191.24
9-30-97 Contract Fee (1.00) 28.48952225 (0.035) 57.699 1,643.81
9-30-98 Contract Fee (1.00) 23.47447701 (0.043) 57.656 1,353.45
9-30-99 Contract Fee (1.00) 21.69860120 (0.046) 57.610 1,250.06
9-30-00 Contract Fee (1.00) 26.91422033 (0.037) 57.573 1,549.53
9-30-00 Value before Surr Chg 26.91422033 0.000 57.573 1,549.53
9-30-00 Surrender Charge 0.00 26.91422033 0.000 57.573 1,549.53
Cumulative Total Returns without/with chrgs. 55.52% A 54.95% C
Avg. Annual Total Returns without/with chrgs. 9.23% B 9.15% D
Rising Dividends
9-30-95 Purchase $1,000.00 $11.82034377 84.600 84.600 $1,000.00
9-30-96 Contract Fee (1.00) $13.84329013 (0.072) 84.528 $1,170.14
9-30-97 Contract Fee (1.00) $19.76046572 (0.051) 84.477 $1,669.31
9-30-98 Contract Fee (1.00) $17.85104693 (0.056) 84.421 1,507.00
9-30-99 Contract Fee (1.00) $19.17250112 (0.052) 84.369 1,617.56
9-30-00 Contract Fee (1.00) $19.65983762 (0.051) 84.318 1,657.68
9-30-00 Value before Surr Chg $19.65983762 0.000 84.318 1,657.68
9-30-00 Surrender Charge 0.00 $19.65983762 0.000 84.318 1,657.68
Cumulative Total Returns without/with chrgs. 66.32% A 65.77% C
Avg. Annual Total Rtns. without/with chrgs. 10.71% B 10.64% D
Templeton Developing Markets Equity
9-30-95 Purchase $1,000.00 $9.88828012 101.130 101.130 $1,000.00
9-30-96 Contract Fee (1.00) $10.81553894 (0.092) 101.037 1,092.77
9-30-97 Contract Fee (1.00) $13.57726307 (0.074) 100.964 1,370.81
9-30-98 Contract Fee (1.00) $6.66633036 (0.150) 100.814 672.06
9-30-99 Contract Fee (1.00) $9.64618714 (0.104) 100.710 971.47
9-30-00 Contract Fee (1.00) $9.20154138 (0.109) 100.601 925.69
9-30-00 Value before Surr Chg $9.20154138 0.000 100.601 925.69
9-30-00 Surrender Charge 0.00 $9.20154138 0.000 100.601 925.69
Cumulative Total Returns without/with chrgs. -6.94% A -7.43% C
Avg. Annual Total Rtns. without/with chrgs. -1.43% B -1.53% D
Templeton Global Asset Allocation
9-30-95 Purchase $1,000.00 $10.32200840 96.880 96.880 $1,000.00
9-30-96 Contract Fee (1.00) $11.68913235 (0.086) 96.795 1,131.45
9-30-97 Contract Fee (1.00) $14.90143310 (0.067) 96.728 1,441.38
9-30-98 Contract Fee (1.00) $12.20472233 (0.082) 96.646 1,179.53
9-30-99 Contract Fee (1.00) $16.47578852 (0.061) 96.585 1,591.32
9-30-00 Contract Fee (1.00) $16.79126082 (0.060) 96.526 1,620.79
9-30-00 Value before Surr Chg $16.79126082 0.000 96.526 1,620.79
9-30-00 Surrender Charge 0.00 $16.79126082 0.000 96.526 1,620.79
Cumulative Total Returns without/with chrgs. 62.67% A 62.08% C
Avg. Annual Total Rtns. without/with chrgs. 10.22% B 10.14% D
Templeton Global Growth
9-30-95 Purchase $1,000.00 $11.37768483 87.891 87.891 $1,000.00
9-30-96 Contract Fee (1.00) $12.54865882 (0.080) 87.812 1,101.92
9-30-97 Contract Fee (1.00) $16.36094935 (0.061) 87.751 1,435.68
9-30-98 Contract Fee (1.00) $14.10452115 (0.071) 87.680 1,236.68
9-30-99 Contract Fee (1.00) $17.50027648 (0.057) 87.622 1,533.42
9-30-00 Contract Fee (1.00) $18.52023276 (0.054) 87.568 1,621.79
9-30-00 Value before Surr Chg $18.52023276 0.000 87.568 1,621.79
9-30-00 Surrender Charge 0.00 $18.52023276 0.000 87.568 1,621.79
Cumulative Total Returns without/with chrgs. 62.78% A 62.18% C
Avg. Annual Total Rtns. without/with chrgs. 10.23% B 10.15% D
Templeton Global Income Securities
9-30-95 Purchase $1,000.00 $14.95417256 66.871 66.871 $1,000.00
9-30-96 Contract Fee (1.00) 16.12142203 (0.062) 66.809 1,077.06
9-30-97 Contract Fee (1.00) 17.11569135 (0.058) 66.751 1,142.48
9-30-98 Contract Fee (1.00) 17.49307642 (0.057) 66.693 1,166.67
9-30-99 Contract Fee (1.00) 16.87348574 (0.059) 66.634 1,124.35
9-30-00 Contract Fee (1.00) 16.07870610 (0.062) 66.572 1,070.39
9-30-00 Value before Surr Chg 16.07870610 0.000 66.572 1,070.39
9-30-00 Surrender Charge 0.00 16.07870610 0.000 66.572 1,070.39
Cumulative Total Returns without/with chrgs. 7.52% A 7.04% C
Avg. Annual Total Returns without/with chrgs. 1.46% B 1.37% D
Templeton International Equity
9-30-95 Purchase $1,000.00 $13.53326646 73.892 73.892 $1,000.00
9-30-96 Contract Fee (1.00) $14.89823526 (0.067) 73.825 1,099.86
9-30-97 Contract Fee (1.00) $19.54872205 (0.051) 73.774 1,442.18
9-30-98 Contract Fee (1.00) $16.57749534 (0.060) 73.713 1,221.98
9-30-99 Contract Fee (1.00) $19.86915615 (0.050) 73.663 1,463.62
9-30-00 Contract Fee (1.00) $21.27491905 (0.047) 73.616 1,566.18
9-30-00 Value before Surr Chg $21.27491905 0.000 73.616 1,566.18
9-30-00 Surrender Charge 0.00 $21.27491905 0.000 73.616 1,566.18
Cumulative Total Returns without/with chrgs. 57.20% A 56.62% C
Avg. Annual Total Rtns. without/with chrgs. 9.47% B 9.39% D
Templeton Pacific Growth
9-30-95 Purchase $1,000.00 $13.58450618 73.613 73.613 $1,000.00
9-30-96 Contract Fee (1.00) $14.90703690 (0.067) 73.546 1,096.36
9-30-97 Contract Fee (1.00) $13.30574107 (0.075) 73.471 977.59
9-30-98 Contract Fee (1.00) $6.06519932 (0.165) 73.306 444.62
9-30-99 Contract Fee (1.00) $9.98023426 (0.100) 73.206 730.61
9-30-00 Contract Fee (1.00) $8.68030082 (0.115) 73.091 634.45
9-30-00 Value before Surr Chg $8.68030082 0.000 73.091 634.45
9-30-00 Surrender Charge 0.00 $8.68030082 0.000 73.091 634.45
Cumulative Total Returns without/with chrgs. -36.10% A -36.56% C
Avg. Annual Total Rtns. without/with chrgs. -8.57% B -8.70% D
U.S. Government Securities
9-30-95 Purchase $1,000.00 $15.76345234 63.438 63.438 $1,000.00
9-30-96 Contract Fee (1.00) 16.27394259 (0.061) 63.376 1,031.38
9-30-97 Contract Fee (1.00) 17.65876402 (0.057) 63.320 1,118.15
9-30-98 Contract Fee (1.00) 19.14504927 (0.052) 63.268 1,211.26
9-30-99 Contract Fee (1.00) 18.74963535 (0.053) 63.214 1,185.24
9-30-00 Contract Fee (1.00) 19.71208097 (0.051) 63.164 1,245.08
9-30-00 Value before Surr Chg 19.71208097 0.000 63.164 1,245.08
9-30-00 Surrender Charge 0.00 19.71208097 0.000 63.164 1,245.08
Cumulative Total Returns without/with chrgs. 25.05% A 24.51% C
Avg. Annual Total Returns without/with chrgs. 4.57% B 4.48% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/5 Years)]-1 C = (Accumulated Value as of September 30,
2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/5 Years)]-1
</FN>
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - ENHANCED
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of September 30, 1990
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Global Utilities Securities
<S> <C> <C> <C> <C> <C> <C>
9-30-90 Purchase $1,000.00 $10.88967447 91.830 91.830 $1,000.00
9-30-91 Contract Fee (1.00) 13.75004662 (0.073) 91.757 1,261.67
9-30-92 Contract Fee (1.00) 15.63970287 (0.064) 91.693 1,434.06
9-30-93 Contract Fee (1.00) 18.12057191 (0.055) 91.638 1,660.54
9-30-94 Contract Fee (1.00) 14.89298109 (0.067) 91.571 1,363.77
9-30-95 Contract Fee (1.00) 18.06841353 (0.055) 91.516 1,653.54
9-30-96 Contract Fee (1.00) 19.75264302 (0.051) 91.465 1,806.68
9-30-97 Contract Fee (1.00) 22.93567276 (0.044) 91.422 2,096.81
9-30-98 Contract Fee (1.00) 26.09964484 (0.038) 91.383 2,385.07
9-30-99 Contract Fee (1.00) 29.82416984 (0.034) 91.350 2,724.43
9-30-00 Contract Fee (1.00) 33.57576344 (0.030) 91.320 3,066.14
9-30-00 Value before Surr Chg 33.57576344 0.000 91.320 3,066.14
9-30-00 Surrender Charge 0.00 33.57576344 0.000 91.320 3,066.14
Cumulative Total Returns 208.33% A 206.61% C
Average Annual Total Returns 11.92% B 11.86% D
Growth and Income
9-30-90 Purchase $1,000.00 $9.15430869 109.238 109.238 $1,000.00
9-30-91 Contract Fee (1.00) 11.15396080 (0.090) 109.149 1,217.44
9-30-92 Contract Fee (1.00) 11.83976359 (0.084) 109.064 1,291.29
9-30-93 Contract Fee (1.00) 13.06803077 (0.077) 108.988 1,424.25
9-30-94 Contract Fee (1.00) 13.40655036 (0.075) 108.913 1,460.15
9-30-95 Contract Fee (1.00) 16.21694947 (0.062) 108.851 1,765.24
9-30-96 Contract Fee (1.00) 18.18913648 (0.055) 108.796 1,978.91
9-30-97 Contract Fee (1.00) 23.82420025 (0.042) 108.754 2,590.99
9-30-98 Contract Fee (1.00) 24.23671611 (0.041) 108.713 2,634.85
9-30-99 Contract Fee (1.00) 26.04271207 (0.038) 108.675 2,830.18
9-30-00 Contract Fee (1.00) 28.82889586 (0.035) 108.640 3,131.97
9-30-00 Value before Surr Chg 28.82889586 0.000 108.640 3,131.97
9-30-00 Surrender Charge 0.00 28.82889586 0.000 108.640 3,131.97
Cumulative Total Returns 214.92% A 213.20% C
Average Annual Total Returns 12.16% B 12.09% D
High Income
9-30-90 Purchase $1,000.00 $9.06514308 110.313 110.313 $1,000.00
9-30-91 Contract Fee (1.00) 11.13433624 (0.090) 110.223 1,227.26
9-30-92 Contract Fee (1.00) 13.11013170 (0.076) 110.147 1,444.04
9-30-93 Contract Fee (1.00) 14.50009248 (0.069) 110.078 1,596.14
9-30-94 Contract Fee (1.00) 14.61489904 (0.068) 110.009 1,607.77
9-30-95 Contract Fee (1.00) 16.89817394 (0.059) 109.950 1,857.95
9-30-96 Contract Fee (1.00) 18.71713541 (0.053) 109.897 2,056.95
9-30-97 Contract Fee (1.00) 21.18119020 (0.047) 109.849 2,326.74
9-30-98 Contract Fee (1.00) 20.64428289 (0.048) 109.801 2,266.76
9-30-99 Contract Fee (1.00) 20.83343176 (0.048) 109.753 2,286.53
9-30-00 Contract Fee (1.00) 19.85581542 (0.050) 109.703 2,178.23
9-30-00 Value before Surr Chg 19.85581542 0.000 109.703 2,178.23
9-30-00 Surrender Charge 0.00 19.85581542 0.000 109.703 2,178.23
Cumulative Total Returns 119.03% A 117.82% C
Average Annual Total Returns 8.16% B 8.10% D
Income Securities
9-30-90 Purchase $1,000.00 $9.89519897 101.059 101.059 $1,000.00
9-30-91 Contract Fee (1.00) 12.99617698 (0.077) 100.982 1,312.38
9-30-92 Contract Fee (1.00) 15.12007817 (0.066) 100.916 1,525.86
9-30-93 Contract Fee (1.00) 17.28413418 (0.058) 100.858 1,743.25
9-30-94 Contract Fee (1.00) 16.89794786 (0.059) 100.799 1,703.30
9-30-95 Contract Fee (1.00) 19.09689875 (0.052) 100.747 1,923.95
9-30-96 Contract Fee (1.00) 20.78708456 (0.048) 100.699 2,093.23
9-30-97 Contract Fee (1.00) 24.20178654 (0.041) 100.657 2,436.08
9-30-98 Contract Fee (1.00) 24.67210008 (0.041) 100.617 2,482.42
9-30-99 Contract Fee (1.00) 24.90875603 (0.040) 100.577 2,505.24
9-30-00 Contract Fee (1.00) 27.99530292 (0.036) 100.541 2,814.67
9-30-00 Value before Surr Chg 27.99530292 0.000 100.541 2,814.67
9-30-00 Surrender Charge 0.00 27.99530292 0.000 100.541 2,814.67
Cumulative Total Returns 182.92% A 181.47% C
Average Annual Total Returns 10.96% B 10.90% D
Money Market
9-30-90 Purchase $1,000.00 $11.12248660 89.908 89.908 $1,000.00
9-30-91 Contract Fee (1.00) 11.66528373 (0.086) 89.822 1,047.80
9-30-92 Contract Fee (1.00) 11.91789930 (0.084) 89.738 1,069.49
9-30-93 Contract Fee (1.00) 12.05714234 (0.083) 89.655 1,080.99
9-30-94 Contract Fee (1.00) 12.28072400 (0.081) 89.574 1,100.03
9-30-95 Contract Fee (1.00) 12.79480585 (0.078) 89.496 1,145.08
9-30-96 Contract Fee (1.00) 13.28816381 (0.075) 89.421 1,188.23
9-30-97 Contract Fee (1.00) 13.79112601 (0.073) 89.348 1,232.21
9-30-98 Contract Fee (1.00) 14.32758427 (0.070) 89.278 1,279.14
9-30-99 Contract Fee (1.00) 14.77042465 (0.068) 89.211 1,317.68
9-30-00 Contract Fee (1.00) 15.36476142 (0.065) 89.145 1,369.70
9-30-00 Value before Surr Chg 15.36476142 0.000 89.145 1,369.70
9-30-00 Surrender Charge 0.00 15.36476142 0.000 89.145 1,369.70
Cumulative Total Returns 38.14% A 36.97% C
Average Annual Total Returns 3.28% B 3.20% D
Natural Resources Securities
9-30-90 Purchase $1,000.00 $11.26582361 88.764 88.764 $1,000.00
9-30-91 Contract Fee (1.00) 10.46628569 (0.096) 88.668 928.03
9-30-92 Contract Fee (1.00) 10.46630979 (0.096) 88.573 927.03
9-30-93 Contract Fee (1.00) 11.93177213 (0.084) 88.489 1,055.83
9-30-94 Contract Fee (1.00) 15.30435607 (0.065) 88.424 1,353.27
9-30-95 Contract Fee (1.00) 14.43623217 (0.069) 88.355 1,275.51
9-30-96 Contract Fee (1.00) 14.60385589 (0.068) 88.286 1,289.32
9-30-97 Contract Fee (1.00) 14.34494524 (0.070) 88.216 1,265.46
9-30-98 Contract Fee (1.00) 8.60693015 (0.116) 88.100 758.27
9-30-99 Contract Fee (1.00) 11.11810827 (0.090) 88.010 978.51
9-30-00 Contract Fee (1.00) 14.04021309 (0.071) 87.939 1,234.68
9-30-00 Value before Surr Chg 14.04021309 0.000 87.939 1,234.68
9-30-00 Surrender Charge 0.00 14.04021309 0.000 87.939 1,234.68
Cumulative Total Returns 24.63% A 23.47% C
Average Annual Total Returns 2.23% B 2.13% D
Real Estate Securities
9-30-90 Purchase $1,000.00 $8.63121581 115.859 115.859 $1,000.00
9-30-91 Contract Fee (1.00) 11.03635237 (0.091) 115.768 1,277.66
9-30-92 Contract Fee (1.00) 12.33116179 (0.081) 115.687 1,426.55
9-30-93 Contract Fee (1.00) 16.17765935 (0.062) 115.625 1,870.54
9-30-94 Contract Fee (1.00) 15.41510059 (0.065) 115.560 1,781.37
9-30-95 Contract Fee (1.00) 17.30635102 (0.058) 115.502 1,998.92
9-30-96 Contract Fee (1.00) 20.63337714 (0.048) 115.454 2,382.20
9-30-97 Contract Fee (1.00) 28.48952225 (0.035) 115.419 3,288.23
9-30-98 Contract Fee (1.00) 23.47447701 (0.043) 115.376 2,708.40
9-30-99 Contract Fee (1.00) 21.69860120 (0.046) 115.330 2,502.50
9-30-00 Contract Fee (1.00) 26.91422033 (0.037) 115.293 3,103.02
9-30-00 Value before Surr Chg 26.91422033 0.000 115.293 3,103.02
9-30-00 Surrender Charge 0.00 26.91422033 0.000 115.293 3,103.02
Cumulative Total Returns 211.82% A 210.30% C
Average Annual Total Returns 12.04% B 11.99% D
Templeton Global Income Securities
9-30-90 Purchase $1,000.00 $11.37788430 87.890 87.890 $1,000.00
9-30-91 Contract Fee (1.00) 12.53798579 (0.080) 87.810 1,100.96
9-30-92 Contract Fee (1.00) 12.57601435 (0.080) 87.731 1,103.30
9-30-93 Contract Fee (1.00) 14.20350156 (0.070) 87.660 1,245.08
9-30-94 Contract Fee (1.00) 13.83501213 (0.072) 87.588 1,211.78
9-30-95 Contract Fee (1.00) 14.95417256 (0.067) 87.521 1,308.80
9-30-96 Contract Fee (1.00) 16.12142203 (0.062) 87.459 1,409.96
9-30-97 Contract Fee (1.00) 17.11569135 (0.058) 87.401 1,495.92
9-30-98 Contract Fee (1.00) 17.49307642 (0.057) 87.343 1,527.90
9-30-99 Contract Fee (1.00) 16.87348574 (0.059) 87.284 1,472.79
9-30-00 Contract Fee (1.00) 16.07870610 (0.062) 87.222 1,402.42
9-30-00 Value before Surr Chg 16.07870610 0.000 87.222 1,402.42
9-30-00 Surrender Charge 0.00 16.07870610 0.000 87.222 1,402.42
Cumulative Total Returns 41.32% A 40.24% C
Average Annual Total Returns 3.52% B 3.44% D
U.S. Government Securities
9-30-90 Purchase $1,000.00 $10.75276561 92.999 92.999 $1,000.00
9-30-91 Contract Fee (1.00) 12.22213337 (0.082) 92.918 1,135.65
9-30-92 Contract Fee (1.00) 13.60666530 (0.073) 92.844 1,263.30
9-30-93 Contract Fee (1.00) 14.76234217 (0.068) 92.776 1,369.60
9-30-94 Contract Fee (1.00) 13.81088939 (0.072) 92.704 1,280.32
9-30-95 Contract Fee (1.00) 15.76345234 (0.063) 92.640 1,460.33
9-30-96 Contract Fee (1.00) 16.27394259 (0.061) 92.579 1,506.63
9-30-97 Contract Fee (1.00) 17.65876402 (0.057) 92.522 1,633.83
9-30-98 Contract Fee (1.00) 19.14504927 (0.052) 92.470 1,770.35
9-30-99 Contract Fee (1.00) 18.74963535 (0.053) 92.417 1,732.78
9-30-00 Contract Fee (1.00) 19.71208097 (0.051) 92.366 1,820.73
9-30-00 Value before Surr Chg 19.71208097 0.000 92.366 1,820.73
9-30-00 Surrender Charge 0.00 19.71208097 0.000 92.366 1,820.73
Cumulative Total Returns 83.32% A 82.07% C
Average Annual Total Returns 6.25% B 6.18% D
</TABLE>
<TABLE>
<CAPTION>
VALUEMARK CHARTER - ENHANCED
Allianz Life Variable Account B
Cumulative and Average Annual Total Return Calculations
Original Purchase as of Sub-Account Inception
Valuation Date as of September 30, 2000
Dollar Units This Accum. Accum.
Date Transaction Amount Unit Value Trans. Units Value
Capital Growth
<S> <C> <C> <C> <C> <C> <C>
5-1-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-97 Contract Fee (1.00) $11.18793330 (0.089) 99.911 $1,117.79
5-1-98 Contract Fee (1.00) $14.66113460 (0.068) 99.842 $1,463.80
5-1-99 Contract Fee (1.00) $16.51074853 (0.061) 99.782 $1,647.47
5-1-00 Contract Fee (1.00) $21.67100693 (0.046) 99.736 $2,161.37
9-30-00 Contract Fee (1.00) $23.35372296 (0.043) 99.693 $2,328.20
9-30-00 Value before Surr Chg $23.35372296 0.000 99.693 $2,328.20
9-30-00 Surrender Charge 0.00 $23.35372296 0.000 99.693 $2,328.20
Cumulative Total Returns without/with chgs. 133.54% A 132.82% C
Avg. Annual Total Returns without/with chgs. 21.16% B 21.07% D
Global Health Care Securities
5-1-98 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-99 Contract Fee ($1.00) $8.69218138 (0.115) 99.885 $868.22
5-1-00 Contract Fee ($1.00) $11.92262947 (0.084) 99.801 $1,189.89
9-30-00 Value before Surr Chg $16.62976241 0.000 99.801 $1,659.67
9-30-00 Contract Fee (1.00) $16.62976241 (0.060) 99.741 $1,658.67
9-30-00 Surrender Charge 0.00 $16.62976241 0.000 99.741 $1,658.67
Cumulative Total Returns without/with chgs. 66.30% A 65.87% C
Avg. Annual Total Returns without/with chgs. 23.40% B 23.27% D
Global Utilities Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 11.48875157 (0.087) 99.913 1,147.88
1-24-91 Contract Fee (1.00) 11.98353907 (0.083) 99.830 1,196.31
1-24-92 Contract Fee (1.00) 14.25998017 (0.070) 99.759 1,422.57
1-24-93 Contract Fee (1.00) 16.00622439 (0.062) 99.697 1,595.77
1-24-94 Contract Fee (1.00) 16.54531139 (0.060) 99.636 1,648.52
1-24-95 Contract Fee (1.00) 15.61633211 (0.064) 99.572 1,554.96
1-24-96 Contract Fee (1.00) 19.88584565 (0.050) 99.522 1,979.08
1-24-97 Contract Fee (1.00) 21.04689103 (0.048) 99.475 2,093.63
1-24-98 Contract Fee (1.00) 25.29802890 (0.040) 99.435 2,515.51
1-24-99 Contract Fee (1.00) 28.21474302 (0.035) 99.400 2,804.54
1-24-00 Contract Fee (1.00) 39.71589696 (0.025) 99.374 3,946.75
9-30-00 Value before Surr Chg 33.57576344 0.000 99.374 3,336.57
9-30-00 Contract Fee (1.00) 33.57576344 (0.030) 99.345 3,335.57
9-30-00 Surrender Charge 0.00 33.57576344 0.000 99.345 3,335.57
Cumulative Total Returns without/with chgs. 235.76% A 233.56% C
Avg. Annual Total Returns without/with chgs. 10.92% B 10.85% D
Growth and Income
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 9.61021216 (0.104) 99.896 960.02
1-24-91 Contract Fee (1.00) 10.05833180 (0.099) 99.797 1,003.79
1-24-92 Contract Fee (1.00) 12.21189114 (0.082) 99.715 1,217.70
1-24-93 Contract Fee (1.00) 12.64614327 (0.079) 99.636 1,260.01
1-24-94 Contract Fee (1.00) 14.19677831 (0.070) 99.565 1,413.50
1-24-95 Contract Fee (1.00) 13.38853744 (0.075) 99.490 1,332.03
1-24-96 Contract Fee (1.00) 17.42247750 (0.057) 99.433 1,732.37
1-24-97 Contract Fee (1.00) 20.01595200 (0.050) 99.383 1,989.25
1-24-98 Contract Fee (1.00) 24.14523794 (0.041) 99.342 2,398.63
1-24-99 Contract Fee (1.00) 25.68680781 (0.039) 99.303 2,550.77
1-24-00 Contract Fee (1.00) 25.22198301 (0.040) 99.263 2,503.61
9-30-00 Value before Surr Chg 28.82889586 0.000 99.263 2,861.64
9-30-00 Contract Fee (1.00) 28.82889586 (0.035) 99.228 2,860.64
9-30-00 Surrender Charge 0.00 28.82889586 0.000 99.228 2,860.64
Cumulative Total Returns without/with chgs. 188.29% A 186.06% C
Avg. Annual Total Returns without/with chgs. 9.48% B 9.41% D
High Income
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 9.99580710 (0.100) 99.900 998.58
1-24-91 Contract Fee (1.00) 9.00547248 (0.111) 99.789 898.65
1-24-92 Contract Fee (1.00) 11.90507150 (0.084) 99.705 1,186.99
1-24-93 Contract Fee (1.00) 13.47281733 (0.074) 99.631 1,342.31
1-24-94 Contract Fee (1.00) 15.39746372 (0.065) 99.566 1,533.06
1-24-95 Contract Fee (1.00) 14.76809475 (0.068) 99.498 1,469.40
1-24-96 Contract Fee (1.00) 17.57214698 (0.057) 99.441 1,747.39
1-24-97 Contract Fee (1.00) 19.54277515 (0.051) 99.390 1,942.36
1-24-98 Contract Fee (1.00) 21.59416349 (0.046) 99.344 2,145.24
1-24-99 Contract Fee (1.00) 21.47143690 (0.047) 99.297 2,132.05
1-24-00 Contract Fee (1.00) 20.90925492 (0.048) 99.249 2,075.23
9-30-00 Value before Surr Chg 19.85581542 0.000 99.249 1,970.67
9-30-00 Contract Fee (1.00) 19.85581542 (0.050) 99.199 1,969.67
9-30-00 Surrender Charge 0.00 19.85581542 0.000 99.199 1,969.67
Cumulative Total Returns without/with chgs. 98.56% A 96.97% C
Avg. Annual Total Returns without/with chgs. 6.04% B 5.97% D
Income Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.71756171 (0.093) 99.907 1,070.76
1-24-91 Contract Fee (1.00) 9.96157294 (0.100) 99.806 994.23
1-24-92 Contract Fee (1.00) 14.05335803 (0.071) 99.735 1,401.61
1-24-93 Contract Fee (1.00) 15.39005670 (0.065) 99.670 1,533.93
1-24-94 Contract Fee (1.00) 17.77218967 (0.056) 99.614 1,770.36
1-24-95 Contract Fee (1.00) 16.41238348 (0.061) 99.553 1,633.90
1-24-96 Contract Fee (1.00) 20.27885214 (0.049) 99.504 2,017.82
1-24-97 Contract Fee (1.00) 21.98855494 (0.045) 99.458 2,186.94
1-24-98 Contract Fee (1.00) 24.85215666 (0.040) 99.418 2,470.75
1-24-99 Contract Fee (1.00) 24.86644565 (0.040) 99.378 2,471.17
1-24-00 Contract Fee (1.00) 24.56922795 (0.041) 99.337 2,440.63
9-30-00 Value before Surr Chg 27.99530292 0.000 99.337 2,780.97
9-30-00 Contract Fee (1.00) 27.99530292 (0.036) 99.301 2,779.97
9-30-00 Surrender Charge 0.00 27.99530292 0.000 99.301 2,779.97
Cumulative Total Returns without/with chgs. 179.95% A 178.00% C
Avg. Annual Total Returns without/with chgs. 9.21% B 9.14% D
Money Market
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.68423690 (0.094) 99.906 1,067.42
1-24-91 Contract Fee (1.00) 11.33916649 (0.088) 99.818 1,131.86
1-24-92 Contract Fee (1.00) 11.77542978 (0.085) 99.733 1,174.40
1-24-93 Contract Fee (1.00) 11.96408514 (0.084) 99.650 1,192.22
1-24-94 Contract Fee (1.00) 12.10516316 (0.083) 99.567 1,205.28
1-24-95 Contract Fee (1.00) 12.42448458 (0.080) 99.487 1,236.07
1-24-96 Contract Fee (1.00) 12.96454249 (0.077) 99.409 1,288.80
1-24-97 Contract Fee (1.00) 13.44347808 (0.074) 99.335 1,335.41
1-24-98 Contract Fee (1.00) 13.95983801 (0.072) 99.263 1,385.70
1-24-99 Contract Fee (1.00) 14.48299297 (0.069) 99.194 1,436.63
1-24-00 Contract Fee (1.00) 14.93704188 (0.067) 99.127 1,480.67
9-30-00 Value before Surr Chg 15.36476142 0.000 99.127 1,523.07
9-30-00 Contract Fee (1.00) 15.36476142 (0.065) 99.062 1,522.07
9-30-00 Surrender Charge 0.00 15.36476142 0.000 99.062 1,522.07
Cumulative Total Returns without/with chgs. 53.65% A 52.21% C
Avg. Annual Total Returns without/with chgs. 3.74% B 3.66% D
Mutual Discovery Securities
11-8-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-8-97 Contract Fee (1.00) $11.84613011 (0.084) 99.916 1,183.61
11-8-98 Contract Fee (1.00) $10.97185112 (0.091) 99.824 1,095.26
11-8-99 Contract Fee (1.00) $12.40206692 (0.081) 99.744 1,237.03
11-8-00 Contract Fee (1.00) $14.80367209 (0.068) 99.676 1,475.57
9-30-00 Contract Fee (1.00) $14.68135275 (0.068) 99.608 1,462.38
9-30-00 Value before Surr Chg $14.68135275 0.000 99.608 1,462.38
9-30-00 Surrender Charge 0.00 $14.68135275 0.000 99.608 1,462.38
Cumulative Total Returns without/with chgs. 46.81% A 46.24% C
Avg. Annual Total Returns without/with chgs. 10.36% B 10.25% D
Mutual Shares Securities
11-8-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-8-97 Contract Fee (1.00) $11.76711390 (0.085) 99.915 $1,175.71
11-8-98 Contract Fee (1.00) $11.60551078 (0.086) 99.829 $1,158.56
11-8-99 Contract Fee (1.00) $12.89273619 (0.078) 99.751 $1,286.07
11-8-00 Contract Fee (1.00) $14.41489989 (0.069) 99.682 $1,436.90
9-30-00 Value before Surr Chg $14.13265247 0.000 99.682 $1,408.77
9-30-00 Contract Fee (1.00) $14.13265247 (0.071) 99.611 $1,407.77
9-30-00 Surrender Charge 0.00 $14.13265247 0.000 99.611 $1,407.77
Cumulative Total Returns without/with chgs. 41.33% A 40.78% C
Avg. Annual Total Returns without/with chgs. 9.28% B 9.18% D
Natural Resources Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 12.90259966 (0.078) 99.922 1,289.26
1-24-91 Contract Fee (1.00) 9.79491774 (0.102) 99.820 977.73
1-24-92 Contract Fee (1.00) 10.95794818 (0.091) 99.729 1,092.83
1-24-93 Contract Fee (1.00) 9.17240445 (0.109) 99.620 913.76
1-24-94 Contract Fee (1.00) 14.51527534 (0.069) 99.551 1,445.01
1-24-95 Contract Fee (1.00) 13.07179681 (0.077) 99.475 1,300.31
1-24-96 Contract Fee (1.00) 16.04130537 (0.062) 99.412 1,594.70
1-24-97 Contract Fee (1.00) 13.88128493 (0.072) 99.340 1,378.97
1-24-98 Contract Fee (1.00) 10.65458523 (0.094) 99.246 1,057.43
1-24-99 Contract Fee (1.00) 8.30606072 (0.120) 99.126 823.35
1-24-00 Contract Fee (1.00) 11.23360857 (0.089) 99.037 1,112.54
9-30-00 Value before Surr Chg 14.04021309 0.000 99.037 1,390.50
9-30-00 Contract Fee (1.00) 14.04021309 (0.071) 98.966 1,389.50
9-30-00 Surrender Charge 0.00 14.04021309 0.000 98.966 1,389.50
Cumulative Total Returns without/with chgs. 40.40% A 38.95% C
Avg. Annual Total Returns without/with chgs. 2.95% B 2.85% D
Real Estate Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.14411284 (0.099) 99.901 1,013.41
1-24-91 Contract Fee (1.00) 9.38566595 (0.107) 99.795 936.64
1-24-92 Contract Fee (1.00) 12.30168882 (0.081) 99.714 1,226.65
1-24-93 Contract Fee (1.00) 13.57075221 (0.074) 99.640 1,352.19
1-24-94 Contract Fee (1.00) 15.41248125 (0.065) 99.575 1,534.70
1-24-95 Contract Fee (1.00) 15.05314262 (0.066) 99.509 1,497.92
1-24-96 Contract Fee (1.00) 18.22074477 (0.055) 99.454 1,812.12
1-24-97 Contract Fee (1.00) 24.04959070 (0.042) 99.412 2,390.82
1-24-98 Contract Fee (1.00) 28.16982932 (0.035) 99.377 2,799.42
1-24-99 Contract Fee (1.00) 22.86348643 (0.044) 99.333 2,271.10
1-24-00 Contract Fee (1.00) 21.74973876 (0.046) 99.287 2,159.46
9-30-00 Value before Surr Chg 26.91422033 0.000 99.287 2,672.23
9-30-00 Contract Fee (1.00) 26.91422033 (0.037) 99.250 2,671.23
9-30-00 Surrender Charge 0.00 26.91422033 0.000 99.250 2,671.23
Cumulative Total Returns without/with chgs. 169.14% A 167.12% C
Avg. Annual Total Returns without/with chgs. 8.84% B 8.77% D
Rising Dividends
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $10.70331485 (0.093) 99.907 1,069.33
1-27-94 Contract Fee (1.00) $10.39488360 (0.096) 99.810 1,037.52
1-27-95 Contract Fee (1.00) $9.98822311 (0.100) 99.710 995.93
1-27-96 Contract Fee (1.00) $12.55892121 (0.080) 99.631 1,251.25
1-27-97 Contract Fee (1.00) $15.31498618 (0.065) 99.565 1,524.84
1-27-98 Contract Fee (1.00) $19.89852265 (0.050) 99.515 1,980.20
1-27-99 Contract Fee (1.00) $19.90489668 (0.050) 99.465 1,979.84
1-27-00 Contract Fee (1.00) $18.18528510 (0.055) 99.410 1,807.80
9-30-00 Value before Surr Chg $19.65983762 0.000 99.410 1,954.38
9-30-00 Contract Fee (1.00) $19.65983762 (0.051) 99.359 1,953.38
9-30-00 Surrender Charge 0.00 $19.65983762 0.000 99.359 1,953.38
Cumulative Total Returns without/with chgs. 96.60% A 95.34% C
Avg. Annual Total Returns without/with chgs. 8.10% B 8.02% D
Small Cap
11-1-95 Purchase $1,000.00 $10.00002740 100.000 100.000 $1,000.00
11-1-96 Contract Fee (1.00) $12.16423544 (0.082) 99.918 $1,215.42
11-1-97 Contract Fee (1.00) $15.58015755 (0.064) 99.853 $1,555.73
11-1-98 Contract Fee (1.00) $12.55188793 (0.080) 99.774 $1,252.35
11-1-99 Contract Fee (1.00) $19.95495211 (0.050) 99.724 $1,989.98
11-1-00 Contract Fee (1.00) $27.70189615 (0.036) 99.687 $2,761.53
9-30-00 Value before Surr Chg $30.03102256 0.000 99.687 $2,993.72
9-30-00 Contract Fee (1.00) $30.03102256 (0.033) 99.654 $2,992.72
9-30-00 Surrender Charge 0.00 $30.03102256 0.000 99.654 $2,992.72
Cumulative Total Returns without/with chgs. 200.31% A 199.27% C
Avg. Annual Total Returns without/with chgs. 25.06% B 24.97% D
Templeton Developing Markets Equity
3-15-94 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-15-95 Contract Fee (1.00) $8.63266450 (0.116) 99.884 862.27
3-15-96 Contract Fee (1.00) $10.30615420 (0.097) 99.787 1,028.42
3-15-97 Contract Fee (1.00) $12.47206614 (0.080) 99.707 1,243.55
3-15-98 Contract Fee (1.00) $10.57321144 (0.095) 99.612 1,053.22
3-15-99 Contract Fee (1.00) $8.24432666 (0.121) 99.491 820.24
3-15-00 Contract Fee (1.00) $11.49252342 (0.087) 99.404 1,142.40
9-30-00 Value before Surr Chg $9.20154138 0.000 99.404 914.67
9-30-00 Contract Fee (1.00) $9.20154138 (0.109) 99.295 913.67
9-30-00 Surrender Charge 0.00 $9.20154138 0.000 99.295 913.67
Cumulative Total Returns without/with chgs. -7.98% A -8.63% C
Avg. Annual Total Returns without/with chgs. -1.26% B -1.37% D
Templeton Global Asset Allocation
5-1-95 Purchase $1,000.00 $10.00019180 99.998 99.998 $1,000.00
5-1-96 Contract Fee (1.00) $11.25824456 (0.089) 99.909 1,124.80
5-1-97 Contract Fee (1.00) $12.78586437 (0.078) 99.831 1,276.43
5-1-98 Contract Fee (1.00) $15.01487709 (0.067) 99.764 1,497.95
5-1-99 Contract Fee (1.00) $17.25805063 (0.058) 99.707 1,720.74
5-1-00 Contract Fee (1.00) $17.05613657 (0.059) 99.648 1,699.61
9-30-00 Value before Surr Chg $16.79126082 0.000 99.648 1,673.21
9-30-00 Contract Fee (1.00) $16.79126082 (0.060) 99.588 1,672.21
9-30-00 Surrender Charge 0.00 $16.79126082 0.000 99.588 1,672.21
Cumulative Total Returns without/with chgs. 67.91% A 67.22% C
Avg. Annual Total Returns without/with chgs. 10.03% B 9.95% D
Templeton Global Growth
3-15-94 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-15-95 Contract Fee (1.00) $10.10866562 (0.099) 99.901 1,009.87
3-15-96 Contract Fee (1.00) $11.82729680 (0.085) 99.817 1,180.56
3-15-97 Contract Fee (1.00) $14.12089018 (0.071) 99.746 1,408.50
3-15-98 Contract Fee (1.00) $16.77606198 (0.060) 99.686 1,672.34
3-15-99 Contract Fee (1.00) $16.22577358 (0.062) 99.624 1,616.48
3-15-00 Contract Fee (1.00) $17.59185188 (0.057) 99.568 1,751.58
9-30-00 Value before Surr Chg $18.52023276 0.000 99.568 1,844.02
9-30-00 Contract Fee (1.00) $18.52023276 (0.054) 99.514 1,843.02
9-30-00 Surrender Charge 0.00 $18.52023276 0.000 99.514 1,843.02
Cumulative Total Returns without/with chgs. 85.20% A 84.30% C
Avg. Annual Total Returns without/with chgs. 9.86% B 9.78% D
Templeton Global Income Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 10.86586745 (0.092) 99.908 1,085.59
1-24-91 Contract Fee (1.00) 11.79537863 (0.085) 99.823 1,177.45
1-24-92 Contract Fee (1.00) 12.97873402 (0.077) 99.746 1,294.58
1-24-93 Contract Fee (1.00) 12.82050839 (0.078) 99.668 1,277.80
1-24-94 Contract Fee (1.00) 14.87021842 (0.067) 99.601 1,481.09
1-24-95 Contract Fee (1.00) 13.61782596 (0.073) 99.527 1,355.35
1-24-96 Contract Fee (1.00) 15.50229042 (0.065) 99.463 1,541.90
1-24-97 Contract Fee (1.00) 16.64556056 (0.060) 99.403 1,654.62
1-24-98 Contract Fee (1.00) 17.14800406 (0.058) 99.345 1,703.56
1-24-99 Contract Fee (1.00) 18.06204918 (0.055) 99.289 1,793.37
1-24-00 Contract Fee (1.00) 16.54974290 (0.060) 99.229 1,642.21
9-30-00 Value before Surr Chg 16.07870610 0.000 99.229 1,595.47
9-30-00 Contract Fee (1.00) 16.07870610 (0.062) 99.167 1,594.47
9-30-00 Surrender Charge 0.00 16.07870610 0.000 99.167 1,594.47
Cumulative Total Returns without/with chgs. 60.79% A 59.45% C
Avg. Annual Total Returns without/with chgs. 4.15% B 4.07% D
Templeton International Equity
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $9.54806777 (0.105) 99.895 953.81
1-27-94 Contract Fee (1.00) $12.88984530 (0.078) 99.818 1,286.63
1-27-95 Contract Fee (1.00) $11.96187526 (0.084) 99.734 1,193.01
1-27-96 Contract Fee (1.00) $13.60338634 (0.074) 99.661 1,355.72
1-27-97 Contract Fee (1.00) $16.26083969 (0.061) 99.599 1,619.56
1-27-98 Contract Fee (1.00) $17.59143736 (0.057) 99.542 1,751.09
1-27-99 Contract Fee (1.00) $17.89794226 (0.056) 99.486 1,780.60
1-27-00 Contract Fee (1.00) $21.70981605 (0.046) 99.440 2,158.83
9-30-00 Value before Surr Chg $21.27491905 0.000 99.440 2,115.58
9-30-00 Contract Fee (1.00) $21.27491905 (0.047) 99.393 2,114.58
9-30-00 Surrender Charge 0.00 $21.27491905 0.000 99.393 2,114.58
Cumulative Total Returns without/with chgs. 112.75% A 111.46% C
Avg. Annual Total Returns without/with chgs. 9.08% B 9.01% D
Templeton International Smaller Companies
5-1-96 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-97 Contract Fee (1.00) $11.33592183 (0.088) 99.912 $1,132.59
5-1-98 Contract Fee (1.00) $12.06798039 (0.083) 99.829 $1,204.73
5-1-99 Contract Fee (1.00) $10.38057625 (0.096) 99.733 $1,035.28
5-1-00 Contract Fee (1.00) $11.58464350 (0.086) 99.646 $1,154.37
9-30-00 Value before Surr Chg $11.44707724 0.000 99.646 $1,140.66
9-30-00 Contract Fee (1.00) $11.44707724 (0.087) 99.559 $1,139.66
9-30-00 Surrender Charge 0.00 $11.44707724 0.000 99.559 $1,139.66
Cumulative Total Returns without/with chgs. 14.47% A 13.97% C
Avg. Annual Total Returns without/with chgs. 3.11% B 3.00% D
Templeton Pacific Growth
1-27-92 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-27-93 Contract Fee (1.00) $9.93315014 (0.101) 99.899 $992.32
1-27-94 Contract Fee (1.00) $14.11543337 (0.071) 99.828 $1,409.12
1-27-95 Contract Fee (1.00) $11.96523561 (0.084) 99.745 $1,193.47
1-27-96 Contract Fee (1.00) $14.52523233 (0.069) 99.676 $1,447.82
1-27-97 Contract Fee (1.00) $14.68960595 (0.068) 99.608 $1,463.20
1-27-98 Contract Fee (1.00) $8.49212273 (0.118) 99.490 $844.88
1-27-99 Contract Fee (1.00) $7.89326293 (0.127) 99.364 $784.30
1-27-00 Contract Fee (1.00) $10.50803565 (0.095) 99.268 $1,043.12
9-30-00 Value before Surr Chg $8.68030082 0.000 99.268 $861.68
9-30-00 Contract Fee (1.00) $8.68030082 (0.115) 99.153 $860.68
9-30-00 Surrender Charge 0.00 $8.68030082 0.000 99.153 $860.68
Cumulative Total Returns without/with chgs. -13.20% A -13.93% C
Avg. Annual Total Returns without/with chgs. -1.62% B -1.71% D
U.S. Government Securities
3-14-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-14-90 Contract Fee (1.00) 10.31325813 (0.097) 99.903 1,030.33
3-14-91 Contract Fee (1.00) 11.47377413 (0.087) 99.816 1,145.26
3-14-92 Contract Fee (1.00) 12.41905952 (0.081) 99.735 1,238.62
3-14-93 Contract Fee (1.00) 14.12985706 (0.071) 99.665 1,408.25
3-14-94 Contract Fee (1.00) 14.30307053 (0.070) 99.595 1,424.51
3-14-95 Contract Fee (1.00) 14.71757023 (0.068) 99.527 1,464.79
3-14-96 Contract Fee (1.00) 15.98087500 (0.063) 99.464 1,589.52
3-14-97 Contract Fee (1.00) 16.79370654 (0.060) 99.405 1,669.37
3-14-98 Contract Fee (1.00) 18.27523069 (0.055) 99.350 1,815.64
3-14-99 Contract Fee (1.00) 19.02997119 (0.053) 99.297 1,889.63
3-14-00 Contract Fee (1.00) 18.73449730 (0.053) 99.244 1,859.29
9-30-00 Value before Surr Chg 19.71208097 0.000 99.244 1,956.31
9-30-00 Contract Fee (1.00) 19.71208097 (0.051) 99.193 1,955.31
9-30-00 Surrender Charge 0.00 19.71208097 0.000 99.193 1,955.31
Cumulative Total Returns without/with chgs. 97.12% A 95.53% C
Avg. Annual Total Returns without/with chgs. 6.05% B 5.97% D
Value Securities
5-1-98 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
5-1-99 Contract Fee (1.00) $7.82517621 (0.128) 99.872 $781.52
5-1-00 Contract Fee (1.00) $8.23429153 (0.121) 99.751 $821.38
9-30-00 Value before Surr Chg $8.82357043 0.000 99.751 $880.16
9-30-00 Contract Fee (1.00) $8.82357043 (0.113) 99.637 $879.16
9-30-00 Surrender Charge 0.00 $8.82357043 0.000 99.637 $879.16
Cumulative Total Returns without/with chgs. -11.76% A -12.08% C
Avg. Annual Total Returns without/with chgs. -5.04% B -5.18% D
SP Jennison Int'l Growth
12-15-00 Purchase $1,000.00 $8.90565569 112.288 112.288 $1,000.00
9-30-00 Value before Surr Chg $8.82357043 0.000 112.288 $990.78
9-30-00 Contract Fee (1.00) $8.82357043 (0.113) 112.175 $989.78
9-30-00 Surrender Charge 0.00 $8.82357043 0.000 112.175 $989.78
Cumulative Total Returns without/with chgs. -0.92% A -1.02% C
Avg. Annual Total Returns without/with chgs. 4.55% B 5.06% D
SP Strategic Partners Focused Growth
12-15-00 Purchase $1,000.00 $8.90565569 112.288 112.288 $1,000.00
9-30-00 Value before Surr Chg $8.82357043 0.000 112.288 $990.78
9-30-00 Contract Fee (1.00) $8.82357043 (0.113) 112.175 $989.78
9-30-00 Surrender Charge 0.00 $8.82357043 0.000 112.175 $989.78
Cumulative Total Returns without/with chgs. -0.92% A -1.02% C
Avg. Annual Total Returns without/with chgs. 4.55% B 5.06% D
<FN>
A = (Unit Value as of September 30, 2000 - Unit Value at Purchase)/Unit Value at
Purchase B = [(A+1)^(1/Years since Inception)]-1 C = (Accumulated Value as of
September 30, 2000 - Accum. Value at Purch.)/Accum. Value at Purch.
D = [(C+1)^(1/Years since Inception)]-1
</FN>
</TABLE>
