VIP P-1
ALLIANZ LIFE INSURANCE COMPANY
OF NORTH AMERICA
ALLIANZ LIFE VARIABLE ACCOUNT B
INDIVIDUAL IMMEDIATE
VARIABLE ANNUITY
SUPPLEMENT DATED MAY 1, 2000 TO
PROSPECTUS DATED MAY 1, 2000
The following information replaces the table under the heading entitled
"Contract Owner Transaction Fees" in the section entitled "Fee Table" on page 7
contained in the Prospectus:
CONTRACT OWNER TRANSACTION FEES
Commutation Fee*
(as a percentage of the amount taken out [liquidated])
CONTRACT YEAR CHARGE
---------------------------------
1 5%
2 5%
3 4%
4 3%
5 2%
6 (& thereafter) 1%
The table of commutation fees above also replaces the table under the heading
entitled "Commutation Fee" in the section entitled "Expenses" on page 17
contained in the Prospectus.
