<TABLE>
<CAPTION>
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 $16.51681072 60.544 60.544 $1,000.00
9-30-00 Contract Fee (1.00) 23.42237842 (0.043) 60.502 1,417.09
9-30-00 Value before Surr Chg 23.42237842 0.000 60.502 1,417.09
9-30-00 Surrender Charge (42.50) 23.42237842 (1.815) 58.687 1,374.59
Cumulative and Average Annual Total Returns
without/with charges 41.81% A 37.46% B
Growth and Income
9-30-99 Purchase $1,000.00 $25.95951219 38.522 38.522 $1,000.00
9-30-00 Contract Fee (1.00) 28.77607480 (0.035) 38.487 1,107.50
9-30-00 Value before Surr Chg 28.77607480 0.000 38.487 1,107.50
9-30-00 Surrender Charge (42.50) 28.77607480 (1.477) 37.010 1,065.00
Cumulative and Average Annual Total Returns
without/with charges 10.85% A 6.50% B
High Income
9-30-99 Purchase $1,000.00 $20.77460842 48.136 48.136 $1,000.00
9-30-00 Contract Fee (1.00) 19.82589259 (0.050) 48.085 953.33
9-30-00 Value before Surr Chg 19.82589259 0.000 48.085 953.33
9-30-00 Surrender Charge (42.50) 19.82589259 (2.144) 45.942 910.83
Cumulative and Average Annual Total Returns
without/with charges -4.57% A -8.92% B
Income Securities
9-30-99 Purchase $1,000.00 $24.84074648 40.256 40.256 $1,000.00
9-30-00 Contract Fee (1.00) 27.95942651 (0.036) 40.221 1,124.55
9-30-00 Value before Surr Chg 27.95942651 0.000 40.221 1,124.55
9-30-00 Surrender Charge (42.50) 27.95942651 (1.520) 38.701 1,082.05
Cumulative and Average Annual Total Returns
without/with charges 12.55% A 8.20% B
Money Market
9-30-99 Purchase $1,000.00 $14.72318842 67.920 67.920 $1,000.00
9-30-00 Contract Fee (1.00) 15.34580060 (0.065) 67.855 1,041.29
9-30-00 Value before Surr Chg 15.34580060 0.000 67.855 1,041.29
9-30-00 Surrender Charge (42.50) 15.34580060 (2.769) 65.085 998.79
Cumulative and Average Annual Total Returns
without/with charges 4.23% A -0.12% B
Mutual Discovery Securities
9-30-99 Purchase $1,000.00 $12.00634011 83.289 83.289 $1,000.00
9-30-00 Contract Fee (1.00) 14.71707822 (0.068) 83.221 1,224.78
9-30-00 Value before Surr Chg 14.71707822 0.000 83.221 1,224.78
9-30-00 Surrender Charge (42.50) 14.71707822 (2.888) 80.334 1,182.28
Cumulative and Average Annual Total Returns
without/with charges 22.58% 18.23%
Mutual Shares Securities
9-30-99 Purchase $1,000.00 $12.26951018 81.503 81.503 $1,000.00
9-30-00 Contract Fee (1.00) 14.11953523 (0.071) 81.432 1,149.78
9-30-00 Value before Surr Chg 14.11953523 0.000 81.432 1,149.78
9-30-00 Surrender Charge (42.50) 14.11953523 (3.010) 78.422 1,107.28
Cumulative and Average Annual Total Returns
without/with charges 15.08% 10.73%
Natural Resource Securities
9-30-99 Purchase $1,000.00 $11.06980279 90.336 90.336 $1,000.00
9-30-00 Contract Fee (1.00) 14.01018086 (0.071) 90.264 1,264.62
9-30-00 Value before Surr Chg 14.01018086 0.000 90.264 1,264.62
9-30-00 Surrender Charge (42.50) 14.01018086 (3.034) 87.231 1,222.12
Cumulative and Average Annual Total Returns
without/with charges 26.56% A 22.21% B
Real Estate Securities
9-30-99 Purchase $1,000.00 $21.63420778 46.223 46.223 $1,000.00
9-30-00 Contract Fee (1.00) 26.86836953 (0.037) 46.186 1,240.94
9-30-00 Value before Surr Chg 26.86836953 0.000 46.186 1,240.94
9-30-00 Surrender Charge (42.50) 26.86836953 (1.582) 44.604 1,198.44
Cumulative and Average Annual Total Returns
without/with charges 24.19% A 19.84% B
Rising Dividends
9-30-99 Purchase $1,000.00 $19.14909613 52.222 52.222 $1,000.00
9-30-00 Contract Fee (1.00) 19.67543321 (0.051) 52.171 1,026.49
9-30-00 Value before Surr Chg 19.67543321 0.000 52.171 1,026.49
9-30-00 Surrender Charge (42.50) 19.67543321 (2.160) 50.011 983.99
Cumulative and Average Annual Total Returns
without/with charges 2.75% A -1.60% B
Small Cap
9-30-99 Purchase $1,000.00 $17.67324496 56.583 56.583 $1,000.00
9-30-00 Contract Fee (1.00) 30.09528263 (0.033) 56.549 1,701.87
9-30-00 Value before Surr Chg 30.09528263 0.000 56.549 1,701.87
9-30-00 Surrender Charge (42.50) 30.09528263 (1.412) 55.137 1,659.37
Cumulative and Average Annual Total Returns
without/with charges 70.29% 65.94%
Templeton Developing Markets Equity
9-30-99 Purchase $1,000.00 $9.64259115 103.707 103.707 $1,000.00
9-30-00 Contract Fee (1.00) 9.19887815 (0.109) 103.598 952.98
9-30-00 Value before Surr Chg 9.19887815 0.000 103.598 952.98
9-30-00 Surrender Charge (42.50) 9.19887815 (4.620) 98.978 910.48
Cumulative and Average Annual Total Returns
without/with charges -4.60% A -8.95% B
Templeton Global Asset Allocation
9-30-99 Purchase $1,000.00 $13.52145641 73.957 73.957 $1,000.00
9-30-00 Contract Fee (1.00) 13.82521674 (0.072) 73.884 1,021.47
9-30-00 Value before Surr Chg 13.82521674 0.000 73.884 1,021.47
9-30-00 Surrender Charge (42.50) 13.82521674 (3.074) 70.810 978.97
Cumulative and Average Annual Total Returns
without/with charges 2.25% A -2.10% B
Templeton Global Growth
9-30-99 Purchase $1,000.00 $17.47223656 57.234 57.234 $1,000.00
9-30-00 Contract Fee (1.00) 18.54334075 (0.054) 57.180 1,060.30
9-30-00 Value before Surr Chg 18.54334075 0.000 57.180 1,060.30
9-30-00 Surrender Charge (42.50) 18.54334075 (2.292) 54.888 1,017.80
Cumulative and Average Annual Total Returns
without/with charges 6.13% A 1.78% B
Templeton Global Income Securities
9-30-99 Purchase $1,000.00 $16.82712463 59.428 59.428 $1,000.00
9-30-00 Contract Fee (1.00) 16.05475561 (0.062) 59.366 953.10
9-30-00 Value before Surr Chg 16.05475561 0.000 59.366 953.10
9-30-00 Surrender Charge (42.50) 16.05475561 (2.647) 56.718 910.60
Cumulative and Average Annual Total Returns
without/with charges -4.59% A -8.94% B
Templeton International Equity
9-30-99 Purchase $1,000.00 $19.86601180 50.337 50.337 $1,000.00
9-30-00 Contract Fee (1.00) 21.30342182 (0.047) 50.290 1,071.36
9-30-00 Value before Surr Chg 21.30342182 0.000 50.290 1,071.36
9-30-00 Surrender Charge (42.50) 21.30342182 (1.995) 48.295 1,028.86
Cumulative and Average Annual Total Returns
without/with charges 7.24% A 2.89% B
Templeton International Smaller Companies
9-30-99 Purchase $1,000.00 $10.82812741 92.352 92.352 $1,000.00
9-30-00 Contract Fee (1.00) 11.43417302 (0.087) 92.265 1,054.97
9-30-00 Value before Surr Chg 11.43417302 0.000 92.265 1,054.97
9-30-00 Surrender Charge (42.50) 11.43417302 (3.717) 88.548 1,012.47
Cumulative and Average Annual Total Returns
without/with charges 5.60% A 1.25% B
Templeton Pacific Growth
9-30-99 Purchase $1,000.00 $9.94232402 100.580 100.580 $1,000.00
9-30-00 Contract Fee (1.00) 8.62812490 (0.116) 100.464 866.82
9-30-00 Value before Surr Chg 8.62812490 0.000 100.464 866.82
9-30-00 Surrender Charge (42.50) 8.62812490 (4.926) 95.538 824.32
Cumulative and Average Annual Total Returns
without/with charges -13.22% A -17.57% B
U.S. Government Securities
9-30-99 Purchase $1,000.00 $18.67947456 53.535 53.535 $1,000.00
9-30-00 Contract Fee (1.00) 19.67816152 (0.051) 53.484 1,052.46
9-30-00 Value before Surr Chg 19.67816152 0.000 53.484 1,052.46
9-30-00 Surrender Charge (42.50) 19.67816152 (2.160) 51.324 1,009.96
Cumulative and Average Annual Total Returns
without/with charges 5.35% A 1.00% B
Utility Equity
9-30-99 Purchase $1,000.00 $29.72278537 33.644 33.644 $1,000.00
9-30-00 Contract Fee (1.00) 33.51433414 (0.030) 33.614 1,126.56
9-30-00 Value before Surr Chg 33.51433414 0.000 33.614 1,126.56
9-30-00 Surrender Charge (42.50) 33.51433414 (1.268) 32.346 1,084.06
Cumulative and Average Annual Total Returns
without/with charges 12.76% A 8.41% B
Zero Coupon - 2000
9-30-99 Purchase $1,000.00 $20.89724180 47.853 47.853 $1,000.00
9-30-00 Contract Fee (1.00) 21.69392274 (0.046) 47.807 1,037.12
9-30-00 Value before Surr Chg 21.69392274 0.000 47.807 1,037.12
9-30-00 Surrender Charge (42.50) 21.69392274 (1.959) 45.848 994.62
Cumulative and Average Annual Total Returns
without/with charges 3.81% A -0.54% B
Zero Coupon - 2005
9-30-99 Purchase $1,000.00 $23.59875335 42.375 42.375 $1,000.00
9-30-00 Contract Fee (1.00) 24.49713368 (0.041) 42.334 1,037.07
9-30-00 Value before Surr Chg 24.49713368 0.000 42.334 1,037.07
9-30-00 Surrender Charge (42.50) 24.49713368 (1.735) 40.599 994.57
Cumulative and Average Annual Total Returns
without/with charges 3.81% A -0.54% B
Zero Coupon - 2010
9-30-99 Purchase $1,000.00 $25.07289234 39.884 39.884 $1,000.00
9-30-00 Contract Fee (1.00) 26.04783415 (0.038) 39.845 1,037.88
9-30-00 Value before Surr Chg 26.04783415 0.000 39.845 1,037.88
9-30-00 Surrender Charge (42.50) 26.04783415 (1.632) 38.214 995.38
Cumulative and Average Annual Total Returns
without/with charges 3.89% A -0.46% B
Global Health Care Securities
9-30-99 Purchase $1,000.00 $8.06735304 123.956 123.956 $1,000.00
9-30-00 Contract Fee (1.00) 16.69223649 (0.060) 123.896 2,068.11
9-30-00 Value before Surr Chg 16.69223649 0.000 123.896 2,068.11
9-30-00 Surrender Charge (42.50) 16.69223649 (2.546) 121.350 2,025.61
Cumulative and Average Annual Total Returns
without/with charges 106.91% A 102.56% B
Value Securities
9-30-99 Purchase $1,000.00 $7.41916742 134.786 134.786 $1,000.00
9-30-00 Contract Fee (1.00) 8.81856855 (0.113) 134.673 1,187.62
9-30-00 Value before Surr Chg 8.81856855 0.000 134.673 1,187.62
9-30-00 Surrender Charge (42.50) 8.81856855 (4.819) 129.853 1,145.12
Cumulative and Average Annual Total Returns
without/with charges 18.86% A 14.51% B
Franklin Aggressive Growth
5-1-00 Purchase $1,000.00 $9.99884932 100.012 100.012 $1,000.00
9-30-00 Contract Fee (1.00) $11.83985414 (0.084) 99.927 1,183.12
9-30-00 Value before Surr Chg $11.83985414 0.000 99.927 1,183.12
9-30-00 Surrender Charge (42.50) $11.83985414 (3.590) 96.337 1,140.62
Cumulative and Average Annual Total Returns
without/with charges 18.41% A 14.06% B
Franklin Technology Securities
5-1-00 Purchase $1,000.00 $9.99884932 100.012 100.012 $1,000.00
9-30-00 Contract Fee (1.00) $12.08838173 (0.083) 99.929 1,207.98
9-30-00 Value before Surr Chg $12.08838173 0.000 99.929 1,207.98
9-30-00 Surrender Charge (42.50) $12.08838173 (3.516) 96.413 1,165.48
Cumulative and Average Annual Total Returns
without/with charges 20.90% A 16.55% B
Money Market
9-30-99 Purchase $1,000.00 $14.72318842 67.920 67.920 $1,000.00
9-30-00 Contract Fee (1.00) $15.34580060 (0.065) 67.855 1,041.29
9-30-00 Value before Surr Chg $15.34580060 0.000 67.855 1,041.29
9-30-00 Surrender Charge (42.50) $15.34580060 (2.769) 65.085 998.79
Cumulative and Average Annual Total Returns
without/with charges 4.23% A -0.12% 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>
<PAGE>
<TABLE>
<CAPTION>
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 $13.47062633 74.236 74.236 $1,000.00
9-30-98 Contract Fee (1.00) 13.05351204 (0.077) 74.159 968.04
9-30-99 Contract Fee (1.00) 16.51681072 (0.061) 74.098 1,223.87
9-30-00 Contract Fee (1.00) 23.42237842 (0.043) 74.056 1,734.56
9-30-00 Value before Surr Chg 23.42237842 0.000 74.056 1,734.56
9-30-00 Surrender Charge (22.00) 23.42237842 (0.939) 73.116 1,712.56
Cumulative Total Returns 73.88% A 71.26% C
Average Annual Total Returns 20.25% B 19.64% D
Growth and Income
9-30-97 Purchase $1,000.00 $23.72291106 42.153 42.153 $1,000.00
9-30-98 Contract Fee (1.00) 24.12160838 (0.041) 42.112 1,015.81
9-30-99 Contract Fee (1.00) 25.95951219 (0.039) 42.073 1,092.20
9-30-00 Contract Fee (1.00) 28.77607480 (0.035) 42.039 1,209.71
9-30-00 Value before Surr Chg 28.77607480 0.000 42.039 1,209.71
9-30-00 Surrender Charge (22.00) 28.77607480 (0.765) 41.274 1,187.71
Cumulative Total Returns without/with chrgs. 21.30% A 18.77% C
Avg. Annual Total Returns without/with chrgs. 6.65% B 5.90% D
High Income
9-30-97 Purchase $1,000.00 $21.09113783 47.413 47.413 $1,000.00
9-30-98 Contract Fee (1.00) 20.54623675 (0.049) 47.365 973.16
9-30-99 Contract Fee (1.00) 20.77460842 (0.048) 47.316 982.98
9-30-00 Contract Fee (1.00) 19.82589259 (0.050) 47.266 937.09
9-30-00 Value before Surr Chg 19.82589259 0.000 47.266 937.09
9-30-00 Surrender Charge (22.00) 19.82589259 (1.110) 46.156 915.09
Cumulative Total Returns without/with chrgs. -6.00% A -8.49% C
Avg. Annual Total Returns without/with chrgs. -2.04% B -2.91% D
Income Securities
9-30-97 Purchase $1,000.00 $24.09889204 41.496 41.496 $1,000.00
9-30-98 Contract Fee (1.00) 24.55492458 (0.041) 41.455 1,017.92
9-30-99 Contract Fee (1.00) 24.84074648 (0.040) 41.415 1,028.77
9-30-00 Contract Fee (1.00) 27.95942651 (0.036) 41.379 1,156.93
9-30-00 Value before Surr Chg 27.95942651 0.000 41.379 1,156.93
9-30-00 Surrender Charge (22.00) 27.95942651 (0.787) 40.592 1,134.93
Cumulative Total Returns without/with chrgs. 16.02% A 13.49% C
Avg. Annual Total Returns without/with chrgs. 5.08% B 4.31% D
Money Market
9-30-97 Purchase $1,000.00 $13.73249270 72.820 72.820 $1,000.00
9-30-98 Contract Fee (1.00) 14.25953810 (0.070) 72.750 1,037.38
9-30-99 Contract Fee (1.00) 14.72318842 (0.068) 72.682 1,070.11
9-30-00 Contract Fee (1.00) 15.34580060 (0.065) 72.617 1,114.36
9-30-00 Value before Surr Chg 15.34580060 0.000 72.617 1,114.36
9-30-00 Surrender Charge (22.00) 15.34580060 (1.434) 71.183 1,092.36
Cumulative Total Returns without/with chrgs. 11.75% A 9.24% C
Avg. Annual Total Returns without/with chrgs. 3.77% B 2.99% D
Mutual Discovery Securities
9-30-97 Purchase $1,000.00 $12.20338878 81.944 81.944 $1,000.00
9-30-98 Contract Fee (1.00) 10.37780655 (0.096) 81.848 849.40
9-30-99 Contract Fee (1.00) 12.00634011 (0.083) 81.765 981.70
9-30-00 Contract Fee (1.00) 14.71707822 (0.068) 81.697 1,202.34
9-30-00 Value before Surr Chg 14.71707822 0.000 81.697 1,202.34
9-30-00 Surrender Charge (22.00) 14.71707822 (1.495) 80.202 1,180.34
Cumulative Total Returns without/with chrgs. 20.60% A 18.03% C
Avg. Annual Total Returns without/with chrgs. 6.44% B 5.68% D
Mutual Shares Securities
9-30-97 Purchase $1,000.00 $11.96619519 83.569 83.569 $1,000.00
9-30-98 Contract Fee (1.00) 10.51794073 (0.095) 83.474 877.97
9-30-99 Contract Fee (1.00) 12.26951018 (0.082) 83.392 1,023.18
9-30-00 Contract Fee (1.00) 14.11953523 (0.071) 83.321 1,176.46
9-30-00 Value before Surr Chg 14.11953523 0.000 83.321 1,176.46
9-30-00 Surrender Charge (22.00) 14.11953523 (1.558) 81.763 1,154.46
Cumulative Total Returns without/with chrgs. 18.00% A 15.45% C
Avg. Annual Total Returns without/with chrgs. 5.67% B 4.90% D
Natural Resource Securities
9-30-97 Purchase $1,000.00 $14.28395734 70.009 70.009 $1,000.00
9-30-98 Contract Fee (1.00) 8.56605316 (0.117) 69.892 598.70
9-30-99 Contract Fee (1.00) 11.06980279 (0.090) 69.802 772.69
9-30-00 Contract Fee (1.00) 14.01018086 (0.071) 69.730 976.93
9-30-00 Value before Surr Chg 14.01018086 0.000 69.730 976.93
9-30-00 Surrender Charge (22.00) 14.01018086 (1.570) 68.160 954.93
Cumulative Total Returns without/with chrgs. -1.92% A -4.51% C
Avg. Annual Total Returns without/with chrgs. -0.64% B -1.53% D
Real Estate Securities
9-30-97 Purchase $1,000.00 $28.36839832 35.250 35.250 $1,000.00
9-30-98 Contract Fee (1.00) 23.36298940 (0.043) 35.208 822.56
9-30-99 Contract Fee (1.00) 21.63420778 (0.046) 35.161 760.69
9-30-00 Contract Fee (1.00) 26.86836953 (0.037) 35.124 943.73
9-30-00 Value before Surr Chg 26.86836953 0.000 35.124 943.73
9-30-00 Surrender Charge (22.00) 26.86836953 (0.819) 34.305 921.73
Cumulative Total Returns without/with chrgs. -5.29% A -7.83% C
Avg. Annual Total Returns without/with chrgs. -1.79% B -2.68% D
Rising Dividends
9-30-97 Purchase $1,000.00 $19.70510173 50.748 50.748 $1,000.00
9-30-98 Contract Fee (1.00) 17.79213372 (0.056) 50.692 901.92
9-30-99 Contract Fee (1.00) 19.14909613 (0.052) 50.640 969.71
9-30-00 Contract Fee (1.00) 19.67543321 (0.051) 50.589 995.36
9-30-00 Value before Surr Chg 19.67543321 0.000 50.589 995.36
9-30-00 Surrender Charge (22.00) 19.67543321 (1.118) 49.471 973.36
Cumulative Total Returns without/with chrgs. -0.15% A -2.66% C
Avg. Annual Total Returns without/with chrgs. -0.05% B -0.90% D
Small Cap
9-30-97 Purchase $1,000.00 $16.27098770 61.459 61.459 $1,000.00
9-30-98 Contract Fee (1.00) 11.77861882 (0.085) 61.374 722.90
9-30-99 Contract Fee (1.00) 17.67324496 (0.057) 61.318 1,083.68
9-30-00 Contract Fee (1.00) 30.09528263 (0.033) 61.284 1,844.37
9-30-00 Value before Surr Chg 30.09528263 0.000 61.284 1,844.37
9-30-00 Surrender Charge (22.00) 30.09528263 (0.731) 60.553 1,822.37
Cumulative Total Returns without/with charges 84.96% A 82.24% C
Average Annual Total Returns without/with charges 22.75% B 22.15% D
Templeton Developing Markets Equity
9-30-97 Purchase $1,000.00 $13.55319695 73.783 73.783 $1,000.00
9-30-98 Contract Fee (1.00) 6.65118741 (0.150) 73.633 489.75
9-30-99 Contract Fee (1.00) 9.64259115 (0.104) 73.529 709.01
9-30-00 Contract Fee (1.00) 9.19887815 (0.109) 73.421 675.39
9-30-00 Value before Surr Chg 9.19887815 0.000 73.421 675.39
9-30-00 Surrender Charge (22.00) 9.19887815 (2.392) 71.029 653.39
Cumulative Total Returns without/with chrgs. -32.13% A -34.66% C
Avg. Annual Total Returns without/with chrgs. -12.12% B -13.23% D
Templeton Global Asset Allocation
9-30-97 Purchase $1,000.00 $14.88313261 67.190 67.190 $1,000.00
9-30-98 Contract Fee (1.00) 12.18363988 (0.082) 67.108 817.62
9-30-99 Contract Fee (1.00) 13.52145641 (0.074) 67.034 906.40
9-30-00 Contract Fee (1.00) 13.82521674 (0.072) 66.962 925.76
9-30-00 Value before Surr Chg 13.82521674 0.000 66.962 925.76
9-30-00 Surrender Charge (22.00) 13.82521674 (1.591) 65.370 903.76
Cumulative Total Returns without/with chrgs. -7.11% A -9.62% C
Avg. Annual Total Returns without/with chrgs. -2.43% B -3.32% D
Templeton Global Growth
9-30-97 Purchase $1,000.00 $16.33194905 61.230 61.230 $1,000.00
9-30-98 Contract Fee (1.00) 14.07248193 (0.071) 61.159 860.65
9-30-99 Contract Fee (1.00) 17.47223656 (0.057) 61.101 1,067.58
9-30-00 Contract Fee (1.00) 18.54334075 (0.054) 61.047 1,132.02
9-30-00 Value before Surr Chg 18.54334075 0.000 61.047 1,132.02
9-30-00 Surrender Charge (22.00) 18.54334075 (1.186) 59.861 1,110.02
Cumulative Total Returns without/with chrgs. 13.54% A 11.00% C
Avg. Annual Total Returns without/with chrgs. 4.32% B 3.54% D
Templeton Global Income Securities
9-30-97 Purchase $1,000.00 $17.04292356 58.675 58.675 $1,000.00
9-30-98 Contract Fee (1.00) 17.40999634 (0.057) 58.618 1,020.54
9-30-99 Contract Fee (1.00) 16.82712463 (0.059) 58.559 985.37
9-30-00 Contract Fee (1.00) 16.05475561 (0.062) 58.496 939.14
9-30-00 Value before Surr Chg 16.05475561 0.000 58.496 939.14
9-30-00 Surrender Charge (22.00) 16.05475561 (1.370) 57.126 917.14
Cumulative Total Returns without/with chrgs. -5.80% A -8.29% C
Avg. Annual Total Returns without/with chrgs. -1.97% B -2.84% D
Templeton International Equity
9-30-97 Purchase $1,000.00 $19.49395132 51.298 51.298 $1,000.00
9-30-98 Contract Fee (1.00) 16.52278518 (0.061) 51.237 846.59
9-30-99 Contract Fee (1.00) 19.86601180 (0.050) 51.187 1,016.88
9-30-00 Contract Fee (1.00) 21.30342182 (0.047) 51.140 1,089.46
9-30-00 Value before Surr Chg 21.30342182 0.000 51.140 1,089.46
9-30-00 Surrender Charge (22.00) 21.30342182 (1.033) 50.107 1,067.46
Cumulative Total Returns without/with chrgs. 9.28% A 6.75% C
Avg. Annual Total Returns without/with chrgs. 3.00% B 2.20% D
Templeton International Smaller Companies
9-30-97 Purchase $1,000.00 $12.32240463 81.153 81.153 $1,000.00
9-30-98 Contract Fee (1.00) 8.76423120 (0.114) 81.039 710.24
9-30-99 Contract Fee (1.00) 10.82812741 (0.092) 80.947 876.50
9-30-00 Contract Fee (1.00) 11.43417302 (0.087) 80.859 924.56
9-30-00 Value before Surr Chg 11.43417302 0.000 80.859 924.56
9-30-00 Surrender Charge (22.00) 11.43417302 (1.924) 78.935 902.56
Cumulative Total Returns without/with chrgs. -7.21% A -9.74% C
Avg. Annual Total Returns without/with chrgs. -2.46% B -3.36% D
Templeton Pacific Growth
9-30-97 Purchase $1,000.00 $13.26846164 75.367 75.367 $1,000.00
9-30-98 Contract Fee (1.00) 6.04518255 (0.165) 75.201 454.61
9-30-99 Contract Fee (1.00) 9.94232402 (0.101) 75.101 746.68
9-30-00 Contract Fee (1.00) 8.62812490 (0.116) 74.985 646.98
9-30-00 Value before Surr Chg 8.62812490 0.000 74.985 646.98
9-30-00 Surrender Charge (22.00) 8.62812490 (2.550) 72.435 624.98
Cumulative Total Returns without/with chrgs. -34.97% A -37.50% C
Avg. Annual Total Returns without/with chrgs. -13.36% B -14.50% D
U.S. Government Securities
9-30-97 Purchase $1,000.00 $17.58368734 56.871 56.871 $1,000.00
9-30-98 Contract Fee (1.00) 19.05412346 (0.052) 56.818 1,082.63
9-30-99 Contract Fee (1.00) 18.67947456 (0.054) 56.765 1,060.34
9-30-00 Contract Fee (1.00) 19.67816152 (0.051) 56.714 1,116.03
9-30-00 Value before Surr Chg 19.67816152 0.000 56.714 1,116.03
9-30-00 Surrender Charge (22.00) 19.67816152 (1.118) 55.596 1,094.03
Cumulative Total Returns without/with chrgs. 11.91% A 9.40% C
Avg. Annual Total Returns without/with chrgs. 3.82% B 3.04% D
Global Communications Securities Fund
9-30-97 Purchase $1,000.00 $22.83816118 43.786 43.786 $1,000.00
9-30-98 Contract Fee (1.00) 25.97568949 (0.038) 43.748 1,136.38
9-30-99 Contract Fee (1.00) 29.72278537 (0.034) 43.714 1,299.31
9-30-00 Contract Fee (1.00) 33.51433414 (0.030) 43.684 1,464.05
9-30-00 Value before Surr Chg 33.51433414 0.000 43.684 1,464.05
9-30-00 Surrender Charge (22.00) 33.51433414 (0.656) 43.028 1,442.05
Cumulative Total Returns without/with chrgs. 46.75% A 44.21% C
Avg. Annual Total Returns without/with chrgs. 13.64% B 12.98% D
Zero Coupon - 2000
9-30-97 Purchase $1,000.00 $19.20628509 52.066 52.066 $1,000.00
9-30-98 Contract Fee (1.00) 20.65943317 (0.048) 52.018 1,074.66
9-30-99 Contract Fee (1.00) 20.89724180 (0.048) 51.970 1,086.03
9-30-00 Contract Fee (1.00) 21.69392274 (0.046) 51.924 1,126.43
9-30-00 Value before Surr Chg 21.69392274 0.000 51.924 1,126.43
9-30-00 Surrender Charge (22.00) 21.69392274 (1.014) 50.910 1,104.43
Cumulative Total Returns without/with chrgs. 12.95% A 10.44% C
Avg. Annual Total Returns without/with chrgs. 4.14% B 3.37% D
Zero Coupon - 2005
9-30-97 Purchase $1,000.00 $21.72321751 46.034 46.034 $1,000.00
9-30-98 Contract Fee (1.00) 25.24683333 (0.040) 45.994 1,161.21
9-30-99 Contract Fee (1.00) 23.59875335 (0.042) 45.952 1,084.40
9-30-00 Contract Fee (1.00) 24.49713368 (0.041) 45.911 1,124.69
9-30-00 Value before Surr Chg 24.49713368 0.000 45.911 1,124.69
9-30-00 Surrender Charge (22.00) 24.49713368 (0.898) 45.013 1,102.69
Cumulative Total Returns without/with chrgs. 12.77% A 10.27% C
Avg. Annual Total Returns without/with chrgs. 4.09% B 3.31% D
Zero Coupon - 2010
9-30-97 Purchase $1,000.00 $23.22591241 43.055 43.055 $1,000.00
9-30-98 Contract Fee (1.00) 28.66622200 (0.035) 43.020 1,233.23
9-30-99 Contract Fee (1.00) 25.07289234 (0.040) 42.981 1,077.65
9-30-00 Contract Fee (1.00) 26.04783415 (0.038) 42.942 1,118.55
9-30-00 Value before Surr Chg 26.04783415 0.000 42.942 1,118.55
9-30-00 Surrender Charge (22.00) 26.04783415 (0.845) 42.098 1,096.55
Cumulative Total Returns without/with chrgs. 12.15% A 9.66% C
Avg. Annual Total Returns without/with chrgs. 3.90% B 3.12% 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>
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C> <C> <C> <C>
Growth and Income
9-30-95 Purchase $1,000.00 $16.16420426 61.865 61.865 $1,000.00
9-30-96 Contract Fee (1.00) 18.12086374 (0.055) 61.810 1,120.05
9-30-97 Contract Fee (1.00) 23.72291106 (0.042) 61.768 1,465.31
9-30-98 Contract Fee (1.00) 24.12160838 (0.041) 61.726 1,488.94
9-30-99 Contract Fee (1.00) 25.95951219 (0.039) 61.688 1,601.38
9-30-00 Contract Fee (1.00) 28.77607480 (0.035) 61.653 1,774.13
9-30-00 Value before Surr Chg 28.77607480 0.000 61.653 1,774.13
9-30-00 Surrender Charge (3.75) 28.77607480 (0.130) 61.523 1,770.38
Cumulative Total Returns without/with chrgs. 78.02% A 77.04% C
Avg. Annual Total Returns without/with chrgs. 12.23% B 12.10% D
High Income
9-30-95 Purchase $1,000.00 $16.84321307 59.371 59.371 $1,000.00
9-30-96 Contract Fee (1.00) 18.64688084 (0.054) 59.317 1,106.09
9-30-97 Contract Fee (1.00) 21.09113783 (0.047) 59.270 1,250.07
9-30-98 Contract Fee (1.00) 20.54623675 (0.049) 59.221 1,216.78
9-30-99 Contract Fee (1.00) 20.77460842 (0.048) 59.173 1,229.30
9-30-00 Contract Fee (1.00) 19.82589259 (0.050) 59.123 1,172.16
9-30-00 Value before Surr Chg 19.82589259 0.000 59.123 1,172.16
9-30-00 Surrender Charge (3.75) 19.82589259 (0.189) 58.934 1,168.41
Cumulative Total Returns without/with chrgs. 17.71% A 16.84% C
Avg. Annual Total Returns without/with chrgs. 3.31% B 3.16% D
Income Securities
9-30-95 Purchase $1,000.00 $19.03478659 52.535 52.535 $1,000.00
9-30-96 Contract Fee (1.00) 20.70906045 (0.048) 52.487 1,086.96
9-30-97 Contract Fee (1.00) 24.09889204 (0.041) 52.446 1,263.88
9-30-98 Contract Fee (1.00) 24.55492458 (0.041) 52.405 1,286.80
9-30-99 Contract Fee (1.00) 24.84074648 (0.040) 52.365 1,300.78
9-30-00 Contract Fee (1.00) 27.95942651 (0.036) 52.329 1,463.08
9-30-00 Value before Surr Chg 27.95942651 0.000 52.329 1,463.08
9-30-00 Surrender Charge (3.75) 27.95942651 (0.134) 52.195 1,459.33
Cumulative Total Returns without/with chrgs. 46.89% A 45.93% C
Avg. Annual Total Returns without/with chrgs. 7.99% B 7.85% D
Money Market
9-30-95 Purchase $1,000.00 $12.75319108 78.412 78.412 $1,000.00
9-30-96 Contract Fee (1.00) 13.23828682 (0.076) 78.336 1,037.04
9-30-97 Contract Fee (1.00) 13.73249270 (0.073) 78.263 1,074.75
9-30-98 Contract Fee (1.00) 14.25953810 (0.070) 78.193 1,115.00
9-30-99 Contract Fee (1.00) 14.72318842 (0.068) 78.125 1,150.25
9-30-00 Contract Fee (1.00) 15.34580060 (0.065) 78.060 1,197.90
9-30-00 Value before Surr Chg 15.34580060 0.000 78.060 1,197.90
9-30-00 Surrender Charge (3.75) 15.34580060 (0.244) 77.816 1,194.15
Cumulative Total Returns without/with chrgs. 20.33% A 19.41% C
Avg. Annual Total Returns without/with chrgs. 3.77% B 3.61% D
Natural Resource Securities
9-30-95 Purchase $1,000.00 $14.38927870 69.496 69.496 $1,000.00
9-30-96 Contract Fee (1.00) 14.54904047 (0.069) 69.427 1,010.10
9-30-97 Contract Fee (1.00) 14.28395734 (0.070) 69.357 990.70
9-30-98 Contract Fee (1.00) 8.56605316 (0.117) 69.241 593.12
9-30-99 Contract Fee (1.00) 11.06980279 (0.090) 69.150 765.48
9-30-00 Contract Fee (1.00) 14.01018086 (0.071) 69.079 967.81
9-30-00 Value before Surr Chg 14.01018086 0.000 69.079 967.81
9-30-00 Surrender Charge (3.75) 14.01018086 (0.268) 68.811 964.06
Cumulative Total Returns without/with chrgs. -2.63% A -3.59% C
Avg. Annual Total Returns without/with chrgs. -0.53% B -0.73% D
Real Estate Securities
9-30-95 Purchase $1,000.00 $17.25006257 57.971 57.971 $1,000.00
9-30-96 Contract Fee (1.00) 20.55592997 (0.049) 57.922 1,190.64
9-30-97 Contract Fee (1.00) 28.36839832 (0.035) 57.887 1,642.16
9-30-98 Contract Fee (1.00) 23.36298940 (0.043) 57.844 1,351.41
9-30-99 Contract Fee (1.00) 21.63420778 (0.046) 57.798 1,250.41
9-30-00 Contract Fee (1.00) 26.86836953 (0.037) 57.761 1,551.93
9-30-00 Value before Surr Chg 26.86836953 0.000 57.761 1,551.93
9-30-00 Surrender Charge (3.75) 26.86836953 (0.140) 57.621 1,548.18
Cumulative Total Returns without/with chrgs. 55.76% A 54.82% C
Avg. Annual Total Returns without/with chrgs. 9.27% B 9.14% D
Rising Dividends
9-30-95 Purchase $1,000.00 $11.79905238 84.753 84.753 $1,000.00
9-30-96 Contract Fee (1.00) 13.81140910 (0.072) 84.680 $1,169.55
9-30-97 Contract Fee (1.00) 19.70510173 (0.051) 84.629 $1,667.63
9-30-98 Contract Fee (1.00) 17.79213372 (0.056) 84.573 1,504.74
9-30-99 Contract Fee (1.00) 19.14909613 (0.052) 84.521 1,618.50
9-30-00 Contract Fee (1.00) 19.67543321 (0.051) 84.470 1,661.99
9-30-00 Value before Surr Chg 19.67543321 0.000 84.470 1,661.99
9-30-00 Surrender Charge (3.75) 19.67543321 (0.191) 84.280 1,658.24
Cumulative Total Returns without/with chrgs. 66.75% A 65.82% C
Avg. Annual Total Rtns. without/with chrgs. 10.77% B 10.64% D
Templeton Developing Markets Equity
9-30-95 Purchase $1,000.00 $9.88065633 101.208 101.208 $1,000.00
9-30-96 Contract Fee (1.00) 10.80176799 (0.093) 101.115 1,092.22
9-30-97 Contract Fee (1.00) 13.55319695 (0.074) 101.041 1,369.44
9-30-98 Contract Fee (1.00) 6.65118741 (0.150) 100.891 671.05
9-30-99 Contract Fee (1.00) 9.64259115 (0.104) 100.787 971.85
9-30-00 Contract Fee (1.00) 9.19887815 (0.109) 100.679 926.13
9-30-00 Value before Surr Chg 9.19887815 0.000 100.679 926.13
9-30-00 Surrender Charge (3.75) 9.19887815 (0.408) 100.271 922.38
Cumulative Total Returns without/with chrgs. -6.90% A -7.76% C
Avg. Annual Total Rtns. without/with chrgs. -1.42% B -1.60% D
Templeton Global Asset Allocation
9-30-95 Purchase $1,000.00 $10.31967544 96.902 96.902 $1,000.00
9-30-96 Contract Fee (1.00) 11.68061617 (0.086) 96.817 1,130.88
9-30-97 Contract Fee (1.00) 14.88313261 (0.067) 96.749 1,439.94
9-30-98 Contract Fee (1.00) 12.18363988 (0.082) 96.667 1,177.76
9-30-99 Contract Fee (1.00) 13.52145641 (0.074) 96.593 1,306.08
9-30-00 Contract Fee (1.00) 13.82521674 (0.072) 96.521 1,334.43
9-30-00 Value before Surr Chg 13.82521674 0.000 96.521 1,334.43
9-30-00 Surrender Charge (3.75) 13.82521674 (0.271) 96.250 1,330.68
Cumulative Total Returns without/with chrgs. 33.97% A 33.07% C
Avg. Annual Total Rtns. without/with chrgs. 6.02% B 5.88% D
Templeton Global Growth
9-30-95 Purchase $1,000.00 $11.36891271 87.959 87.959 $1,000.00
9-30-96 Contract Fee (1.00) 12.53268117 (0.080) 87.879 1,101.36
9-30-97 Contract Fee (1.00) 16.33194905 (0.061) 87.818 1,434.24
9-30-98 Contract Fee (1.00) 14.07248193 (0.071) 87.747 1,234.82
9-30-99 Contract Fee (1.00) 17.47223656 (0.057) 87.690 1,532.14
9-30-00 Contract Fee (1.00) 18.54334075 (0.054) 87.636 1,625.06
9-30-00 Value before Surr Chg 18.54334075 0.000 87.636 1,625.06
9-30-00 Surrender Charge (3.75) 18.54334075 (0.202) 87.434 1,621.31
Cumulative Total Returns without/with chrgs. 63.11% A 62.13% C
Avg. Annual Total Rtns. without/with chrgs. 10.28% B 10.15% D
Templeton Global Income Securities
9-30-95 Purchase $1,000.00 $14.90553451 67.089 67.089 $1,000.00
9-30-96 Contract Fee (1.00) 16.06091043 (0.062) 67.027 1,076.51
9-30-97 Contract Fee (1.00) 17.04292356 (0.059) 66.968 1,141.33
9-30-98 Contract Fee (1.00) 17.40999634 (0.057) 66.911 1,164.92
9-30-99 Contract Fee (1.00) 16.82712463 (0.059) 66.851 1,124.92
9-30-00 Contract Fee (1.00) 16.05475561 (0.062) 66.789 1,072.28
9-30-00 Value before Surr Chg 16.05475561 0.000 66.789 1,072.28
9-30-00 Surrender Charge (3.75) 16.05475561 (0.234) 66.556 1,068.53
Cumulative Total Returns without/with chrgs. 7.71% A 6.85% C
Avg. Annual Total Returns without/with chrgs. 1.50% B 1.33% D
Templeton International Equity
9-30-95 Purchase $1,000.00 $13.50888968 74.025 74.025 $1,000.00
9-30-96 Contract Fee (1.00) 14.86392470 (0.067) 73.958 1,099.31
9-30-97 Contract Fee (1.00) 19.49395132 (0.051) 73.907 1,440.73
9-30-98 Contract Fee (1.00) 16.52278518 (0.061) 73.846 1,220.15
9-30-99 Contract Fee (1.00) 19.86601180 (0.050) 73.796 1,466.03
9-30-00 Contract Fee (1.00) 21.30342182 (0.047) 73.749 1,571.11
9-30-00 Value before Surr Chg 21.30342182 0.000 73.749 1,571.11
9-30-00 Surrender Charge (3.75) 21.30342182 (0.176) 73.573 1,567.36
Cumulative Total Returns without/with chrgs. 57.70% A 56.74% C
Avg. Annual Total Rtns. without/with chrgs. 9.54% B 9.40% D
Templeton Pacific Growth
9-30-95 Purchase $1,000.00 $13.56003710 73.746 73.746 $1,000.00
9-30-96 Contract Fee (1.00) 14.87270607 (0.067) 73.679 1,095.80
9-30-97 Contract Fee (1.00) 13.26846164 (0.075) 73.604 976.61
9-30-98 Contract Fee (1.00) 6.04518255 (0.165) 73.438 443.95
9-30-99 Contract Fee (1.00) 9.94232402 (0.101) 73.338 729.15
9-30-00 Contract Fee (1.00) 8.62812490 (0.116) 73.222 631.77
9-30-00 Value before Surr Chg 8.62812490 0.000 73.222 631.77
9-30-00 Surrender Charge (3.75) 8.62812490 (0.435) 72.787 628.02
Cumulative Total Returns without/with chrgs. -36.37% A -37.20% C
Avg. Annual Total Rtns. without/with chrgs. -8.65% B -8.88% D
U.S. Government Securities
9-30-95 Purchase $1,000.00 $15.71218212 63.645 63.645 $1,000.00
9-30-96 Contract Fee (1.00) 16.21285852 (0.062) 63.583 1,030.87
9-30-97 Contract Fee (1.00) 17.58368734 (0.057) 63.526 1,117.03
9-30-98 Contract Fee (1.00) 19.05412346 (0.052) 63.474 1,209.44
9-30-99 Contract Fee (1.00) 18.67947456 (0.054) 63.420 1,184.66
9-30-00 Contract Fee (1.00) 19.67816152 (0.051) 63.369 1,247.00
9-30-00 Value before Surr Chg 19.67816152 0.000 63.369 1,247.00
9-30-00 Surrender Charge (3.75) 19.67816152 (0.191) 63.179 1,243.25
Cumulative Total Returns without/with chrgs. 25.24% A 24.32% C
Avg. Annual Total Returns without/with chrgs. 4.60% B 4.45% D
Utility Equity
9-30-95 Purchase $1,000.00 $18.00964649 55.526 55.526 $1,000.00
9-30-96 Contract Fee (1.00) 19.67850168 (0.051) 55.475 1,091.66
9-30-97 Contract Fee (1.00) 22.83816118 (0.044) 55.431 1,265.95
9-30-98 Contract Fee (1.00) 25.97568949 (0.038) 55.393 1,438.86
9-30-99 Contract Fee (1.00) 29.72278537 (0.034) 55.359 1,645.43
9-30-00 Contract Fee (1.00) 33.51433414 (0.030) 55.329 1,854.32
9-30-00 Value before Surr Chg 33.51433414 0.000 55.329 1,854.32
9-30-00 Surrender Charge (3.75) 33.51433414 (0.112) 55.217 1,850.57
Cumulative Total Returns without/with chrgs. 86.09% A 85.06% C
Avg. Annual Total Returns without/with chrgs. 13.23% B 13.10% D
Zero Coupon - 2000
9-30-95 Purchase $1,000.00 $17.51731560 57.086 57.086 $1,000.00
9-30-96 Contract Fee (1.00) 18.03964057 (0.055) 57.031 1,028.82
9-30-97 Contract Fee (1.00) 19.20628509 (0.052) 56.979 1,094.35
9-30-98 Contract Fee (1.00) 20.65943317 (0.048) 56.930 1,176.15
9-30-99 Contract Fee (1.00) 20.89724180 (0.048) 56.883 1,188.69
9-30-00 Contract Fee (1.00) 21.69392274 (0.046) 56.837 1,233.01
9-30-00 Value before Surr Chg 21.69392274 0.000 56.837 1,233.01
9-30-00 Surrender Charge (3.75) 21.69392274 (0.173) 56.664 1,229.26
Cumulative Total Returns without/with chrgs. 23.84% A 22.93% C
Avg. Annual Total Returns without/with chrgs. 4.37% B 4.21% D
Zero Coupon - 2005
9-30-95 Purchase $1,000.00 $19.39282866 51.565 51.565 $1,000.00
9-30-96 Contract Fee (1.00) 19.65732079 (0.051) 51.515 1,012.64
9-30-97 Contract Fee (1.00) 21.72321751 (0.046) 51.469 1,118.06
9-30-98 Contract Fee (1.00) 25.24683333 (0.040) 51.429 1,298.42
9-30-99 Contract Fee (1.00) 23.59875335 (0.042) 51.387 1,212.66
9-30-00 Contract Fee (1.00) 24.49713368 (0.041) 51.346 1,257.82
9-30-00 Value before Surr Chg 24.49713368 0.000 51.346 1,257.82
9-30-00 Surrender Charge (3.75) 24.49713368 (0.153) 51.193 1,254.07
Cumulative Total Returns without/with chrgs. 26.32% A 25.41% C
Avg. Annual Total Returns without/with chrgs. 4.78% B 4.63% D
Zero Coupon - 2010
9-30-95 Purchase $1,000.00 $20.05167453 49.871 49.871 $1,000.00
9-30-96 Contract Fee (1.00) $20.14008785 (0.050) 49.821 1,003.41
9-30-97 Contract Fee (1.00) $23.22591241 (0.043) 49.778 1,156.15
9-30-98 Contract Fee (1.00) $28.66622200 (0.035) 49.744 1,425.96
9-30-99 Contract Fee (1.00) $25.07289234 (0.040) 49.704 1,246.21
9-30-00 Contract Fee (1.00) $26.04783415 (0.038) 49.665 1,293.67
9-30-00 Value before Surr Chg $26.04783415 0.000 49.665 1,293.67
9-30-00 Surrender Charge (3.75) $26.04783415 (0.144) 49.521 1,289.92
Cumulative Total Returns without/with chrgs. 29.90% A 28.99% C
Avg. Annual Total Returns without/with chrgs. 5.37% B 5.22% 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>
<PAGE>
<TABLE>
<CAPTION>
FRANKLIN VALUEMARK IV
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
Growth and Income
<S> <C> <C> <C> <C> <C> <C>
9-30-90 Purchase $1,000.00 $9.14740117 109.321 109.321 $1,000.00
9-30-91 Contract Fee (1.00) 11.13994210 (0.090) 109.231 1,216.83
9-30-92 Contract Fee (1.00) 11.81895536 (0.085) 109.146 1,290.00
9-30-93 Contract Fee (1.00) 13.03854249 (0.077) 109.070 1,422.11
9-30-94 Contract Fee (1.00) 13.36961123 (0.075) 108.995 1,457.22
9-30-95 Contract Fee (1.00) 16.16420426 (0.062) 108.933 1,760.81
9-30-96 Contract Fee (1.00) 18.12086374 (0.055) 108.878 1,972.96
9-30-97 Contract Fee (1.00) 23.72291106 (0.042) 108.836 2,581.90
9-30-98 Contract Fee (1.00) 24.12160838 (0.041) 108.794 2,624.29
9-30-99 Contract Fee (1.00) 25.95951219 (0.039) 108.756 2,823.24
9-30-00 Contract Fee (1.00) 28.77607480 (0.035) 108.721 3,128.56
9-30-00 Value before Surr Chg 28.77607480 0.000 108.721 3,128.56
9-30-00 Surrender Charge 28.77607480 0.000 108.721 3,128.56
Cumulative Total Returns without/with chrgs. 214.58% A 212.86% C
Avg. Annual Total Returns without/with chrgs. 12.14% B 12.08% D
High Income
9-30-90 Purchase $1,000.00 $9.05830284 110.396 110.396 $1,000.00
9-30-91 Contract Fee (1.00) 11.12034220 (0.090) 110.306 1,226.64
9-30-92 Contract Fee (1.00) 13.08709081 (0.076) 110.230 1,442.59
9-30-93 Contract Fee (1.00) 14.46737272 (0.069) 110.160 1,593.73
9-30-94 Contract Fee (1.00) 14.57463054 (0.069) 110.092 1,604.55
9-30-95 Contract Fee (1.00) 16.84321307 (0.059) 110.033 1,853.30
9-30-96 Contract Fee (1.00) 18.64688084 (0.054) 109.979 2,050.76
9-30-97 Contract Fee (1.00) 21.09113783 (0.047) 109.931 2,318.58
9-30-98 Contract Fee (1.00) 20.54623675 (0.049) 109.883 2,257.68
9-30-99 Contract Fee (1.00) 20.77460842 (0.048) 109.835 2,281.77
9-30-00 Contract Fee (1.00) 19.82589259 (0.050) 109.784 2,176.57
9-30-00 Value before Surr Chg 19.82589259 0.000 109.784 2,176.57
9-30-00 Surrender Charge 19.82589259 0.000 109.784 2,176.57
Cumulative Total Returns without/with chrgs. 118.87% A 117.66% C
Avg. Annual Total Returns without/with chrgs. 8.15% B 8.09% D
Income Securities
9-30-90 Purchase $1,000.00 $9.88773240 101.135 101.135 $1,000.00
9-30-91 Contract Fee (1.00) 12.97984292 (0.077) 101.058 1,311.72
9-30-92 Contract Fee (1.00) 15.09350483 (0.066) 100.992 1,524.33
9-30-93 Contract Fee (1.00) 17.24513217 (0.058) 100.934 1,740.62
9-30-94 Contract Fee (1.00) 16.85138887 (0.059) 100.875 1,699.88
9-30-95 Contract Fee (1.00) 19.03478659 (0.053) 100.822 1,919.13
9-30-96 Contract Fee (1.00) 20.70906045 (0.048) 100.774 2,086.93
9-30-97 Contract Fee (1.00) 24.09889204 (0.041) 100.732 2,427.54
9-30-98 Contract Fee (1.00) 24.55492458 (0.041) 100.692 2,472.48
9-30-99 Contract Fee (1.00) 24.84074648 (0.040) 100.651 2,500.26
9-30-00 Contract Fee (1.00) 27.95942651 (0.036) 100.616 2,813.16
9-30-00 Value before Surr Chg 27.95942651 0.000 100.616 2,813.16
9-30-00 Surrender Charge 27.95942651 0.000 100.616 2,813.16
Cumulative Total Returns without/with chrgs. 182.77% A 181.32% C
Avg. Annual Total Returns without/with chrgs. 10.95% B 10.90% D
Money Market
9-30-90 Purchase $1,000.00 $11.11409396 89.976 89.976 $1,000.00
9-30-91 Contract Fee (1.00) 11.65062238 (0.086) 89.890 1,047.27
9-30-92 Contract Fee (1.00) 11.89695375 (0.084) 89.806 1,068.42
9-30-93 Contract Fee (1.00) 12.02993515 (0.083) 89.723 1,079.36
9-30-94 Contract Fee (1.00) 12.24688686 (0.082) 89.641 1,097.83
9-30-95 Contract Fee (1.00) 12.75319108 (0.078) 89.563 1,142.21
9-30-96 Contract Fee (1.00) 13.23828682 (0.076) 89.487 1,184.66
9-30-97 Contract Fee (1.00) 13.73249270 (0.073) 89.414 1,227.88
9-30-98 Contract Fee (1.00) 14.25953810 (0.070) 89.344 1,274.01
9-30-99 Contract Fee (1.00) 14.72318842 (0.068) 89.276 1,314.43
9-30-00 Contract Fee (1.00) 15.34580060 (0.065) 89.211 1,369.02
9-30-00 Value before Surr Chg 15.34580060 0.000 89.211 1,369.02
9-30-00 Surrender Charge 15.34580060 0.000 89.211 1,369.02
Cumulative Total Returns without/with chrgs. 38.08% A 36.90% C
Avg. Annual Total Returns without/with chrgs. 3.28% B 3.19% D
Natural Resources Securities
9-30-90 Purchase $1,000.00 $11.25732281 88.831 88.831 $1,000.00
9-30-91 Contract Fee (1.00) 10.45313128 (0.096) 88.735 927.56
9-30-92 Contract Fee (1.00) 10.44791539 (0.096) 88.640 926.10
9-30-93 Contract Fee (1.00) 11.90484784 (0.084) 88.556 1,054.24
9-30-94 Contract Fee (1.00) 15.26218790 (0.066) 88.490 1,350.55
9-30-95 Contract Fee (1.00) 14.38927870 (0.069) 88.421 1,272.31
9-30-96 Contract Fee (1.00) 14.54904047 (0.069) 88.352 1,285.44
9-30-97 Contract Fee (1.00) 14.28395734 (0.070) 88.282 1,261.02
9-30-98 Contract Fee (1.00) 8.56605316 (0.117) 88.165 755.23
9-30-99 Contract Fee (1.00) 11.06980279 (0.090) 88.075 974.97
9-30-00 Contract Fee (1.00) 14.01018086 (0.071) 88.003 1,232.94
9-30-00 Value before Surr Chg 14.01018086 0.000 88.003 1,232.94
9-30-00 Surrender Charge 14.01018086 0.000 88.003 1,232.94
Cumulative Total Returns without/with chrgs. 24.45% A 23.29% C
Avg. Annual Total Returns without/with chrgs. 2.21% B 2.12% D
Real Estate Securities
9-30-90 Purchase $1,000.00 $8.62470300 115.946 115.946 $1,000.00
9-30-91 Contract Fee (1.00) 11.02248148 (0.091) 115.855 1,277.01
9-30-92 Contract Fee (1.00) 12.30948993 (0.081) 115.774 1,425.12
9-30-93 Contract Fee (1.00) 16.14115413 (0.062) 115.712 1,867.73
9-30-94 Contract Fee (1.00) 15.37262729 (0.065) 115.647 1,777.80
9-30-95 Contract Fee (1.00) 17.25006257 (0.058) 115.589 1,993.92
9-30-96 Contract Fee (1.00) 20.55592997 (0.049) 115.540 2,375.04
9-30-97 Contract Fee (1.00) 28.36839832 (0.035) 115.505 3,276.70
9-30-98 Contract Fee (1.00) 23.36298940 (0.043) 115.462 2,697.55
9-30-99 Contract Fee (1.00) 21.63420778 (0.046) 115.416 2,496.94
9-30-00 Contract Fee (1.00) 26.86836953 (0.037) 115.379 3,100.04
9-30-00 Value before Surr Chg 26.86836953 0.000 115.379 3,100.04
9-30-00 Surrender Charge 26.86836953 0.000 115.379 3,100.04
Cumulative Total Returns without/with chrgs. 211.53% A 210.00% C
Avg. Annual Total Returns without/with chrgs. 12.03% B 11.98% D
Templeton Global Income Securities
9-30-90 Purchase $1,000.00 $11.36929895 87.956 87.956 $1,000.00
9-30-91 Contract Fee (1.00) 12.52222760 (0.080) 87.876 1,100.41
9-30-92 Contract Fee (1.00) 12.55391217 (0.080) 87.797 1,102.19
9-30-93 Contract Fee (1.00) 14.17145106 (0.071) 87.726 1,243.21
9-30-94 Contract Fee (1.00) 13.79689245 (0.072) 87.654 1,209.35
9-30-95 Contract Fee (1.00) 14.90553451 (0.067) 87.587 1,305.52
9-30-96 Contract Fee (1.00) 16.06091043 (0.062) 87.524 1,405.72
9-30-97 Contract Fee (1.00) 17.04292356 (0.059) 87.466 1,490.67
9-30-98 Contract Fee (1.00) 17.40999634 (0.057) 87.408 1,521.78
9-30-99 Contract Fee (1.00) 16.82712463 (0.059) 87.349 1,469.83
9-30-00 Contract Fee (1.00) 16.05475561 (0.062) 87.286 1,401.36
9-30-00 Value before Surr Chg 16.05475561 0.000 87.286 1,401.36
9-30-00 Surrender Charge 16.05475561 0.000 87.286 1,401.36
Cumulative Total Returns without/with chrgs. 41.21% A 40.14% C
Avg. Annual Total Returns without/with chrgs. 3.51% B 3.43% D
U.S. Government Securities
9-30-90 Purchase $1,000.00 $10.74465195 93.070 93.070 $1,000.00
9-30-91 Contract Fee (1.00) 12.20677215 (0.082) 92.988 1,135.08
9-30-92 Contract Fee (1.00) 13.58275176 (0.074) 92.914 1,262.03
9-30-93 Contract Fee (1.00) 14.72903064 (0.068) 92.846 1,367.53
9-30-94 Contract Fee (1.00) 13.77283618 (0.073) 92.774 1,277.75
9-30-95 Contract Fee (1.00) 15.71218212 (0.064) 92.710 1,456.67
9-30-96 Contract Fee (1.00) 16.21285852 (0.062) 92.648 1,502.09
9-30-97 Contract Fee (1.00) 17.58368734 (0.057) 92.591 1,628.10
9-30-98 Contract Fee (1.00) 19.05412346 (0.052) 92.539 1,763.25
9-30-99 Contract Fee (1.00) 18.67947456 (0.054) 92.485 1,727.58
9-30-00 Contract Fee (1.00) 19.67816152 (0.051) 92.434 1,818.94
9-30-00 Value before Surr Chg 19.67816152 0.000 92.434 1,818.94
9-30-00 Surrender Charge 19.67816152 0.000 92.434 1,818.94
Cumulative Total Returns without/with chrgs. 83.14% A 81.89% C
Avg. Annual Total Returns without/with chrgs. 6.24% B 6.17% D
Global Utilties Securities
9-30-90 Purchase $1,000.00 $10.88145750 91.899 91.899 $1,000.00
9-30-91 Contract Fee (1.00) 13.73276506 (0.073) 91.827 1,261.03
9-30-92 Contract Fee (1.00) 15.61221629 (0.064) 91.763 1,432.62
9-30-93 Contract Fee (1.00) 18.07968246 (0.055) 91.707 1,658.04
9-30-94 Contract Fee (1.00) 14.85194639 (0.067) 91.640 1,361.03
9-30-95 Contract Fee (1.00) 18.00964649 (0.056) 91.584 1,649.40
9-30-96 Contract Fee (1.00) 19.67850168 (0.051) 91.534 1,801.24
9-30-97 Contract Fee (1.00) 22.83816118 (0.044) 91.490 2,089.46
9-30-98 Contract Fee (1.00) 25.97568949 (0.038) 91.451 2,375.51
9-30-99 Contract Fee (1.00) 29.72278537 (0.034) 91.418 2,717.19
9-30-00 Contract Fee (1.00) 33.51433414 (0.030) 91.388 3,062.80
9-30-00 Value before Surr Chg 33.51433414 0.000 91.388 3,062.80
9-30-00 Surrender Charge 33.51433414 0.000 91.388 3,062.80
Cumulative Total Returns without/with chrgs. 207.99% A 206.28% C
Avg. Annual Total Returns without/with chrgs. 11.91% B 11.84% D
Zero Coupon - 2000
9-30-90 Purchase $1,000.00 $10.48997997 95.329 95.329 $1,000.00
9-30-91 Contract Fee (1.00) 12.62195258 (0.079) 95.250 1,202.24
9-30-92 Contract Fee (1.00) 14.76256303 (0.068) 95.182 1,405.13
9-30-93 Contract Fee (1.00) 16.88518242 (0.059) 95.123 1,606.17
9-30-94 Contract Fee (1.00) 15.48359384 (0.065) 95.058 1,471.84
9-30-95 Contract Fee (1.00) 17.51731560 (0.057) 95.001 1,664.17
9-30-96 Contract Fee (1.00) 18.03964057 (0.055) 94.946 1,712.79
9-30-97 Contract Fee (1.00) 19.20628509 (0.052) 94.894 1,822.56
9-30-98 Contract Fee (1.00) 20.65943317 (0.048) 94.845 1,959.45
9-30-99 Contract Fee (1.00) 20.89724180 (0.048) 94.797 1,981.01
9-30-00 Contract Fee (1.00) 21.69392274 (0.046) 94.751 2,055.53
9-30-00 Value before Surr Chg 21.69392274 0.000 94.751 2,055.53
9-30-00 Surrender Charge 21.69392274 0.000 94.751 2,055.53
Cumulative Total Returns without/with chrgs. 106.81% A 105.55% C
Avg. Annual Total Returns without/with chrgs. 7.54% B 7.47% D
Zero Coupon - 2005
9-30-90 Purchase $1,000.00 $10.27742184 97.301 97.301 $1,000.00
9-30-91 Contract Fee (1.00) 12.82657321 (0.078) 97.223 1,247.03
9-30-92 Contract Fee (1.00) 14.95037987 (0.067) 97.156 1,452.52
9-30-93 Contract Fee (1.00) 18.36158925 (0.054) 97.101 1,782.94
9-30-94 Contract Fee (1.00) 15.85882834 (0.063) 97.038 1,538.91
9-30-95 Contract Fee (1.00) 19.39282866 (0.052) 96.987 1,880.85
9-30-96 Contract Fee (1.00) 19.65732079 (0.051) 96.936 1,905.50
9-30-97 Contract Fee (1.00) 21.72321751 (0.046) 96.890 2,104.76
9-30-98 Contract Fee (1.00) 25.24683333 (0.040) 96.850 2,445.16
9-30-99 Contract Fee (1.00) 23.59875335 (0.042) 96.808 2,284.54
9-30-00 Contract Fee (1.00) 24.49713368 (0.041) 96.767 2,370.51
9-30-00 Value before Surr Chg 24.49713368 0.000 96.767 2,370.51
9-30-00 Surrender Charge 24.49713368 0.000 96.767 2,370.51
Cumulative Total Returns without/with chrgs. 138.36% A 137.05% C
Avg. Annual Total Returns without/with chrgs. 9.07% B 9.01% D
Zero Coupon - 2010
9-30-90 Purchase $1,000.00 $9.93746620 100.629 100.629 $1,000.00
9-30-91 Contract Fee (1.00) 12.60267861 (0.079) 100.550 1,267.20
9-30-92 Contract Fee (1.00) 14.20318841 (0.070) 100.480 1,427.13
9-30-93 Contract Fee (1.00) 18.55701177 (0.054) 100.426 1,863.60
9-30-94 Contract Fee (1.00) 15.33485748 (0.065) 100.360 1,539.01
9-30-95 Contract Fee (1.00) 20.05167453 (0.050) 100.311 2,011.39
9-30-96 Contract Fee (1.00) 20.14008785 (0.050) 100.261 2,019.26
9-30-97 Contract Fee (1.00) 23.22591241 (0.043) 100.218 2,327.65
9-30-98 Contract Fee (1.00) 28.66622200 (0.035) 100.183 2,871.87
9-30-99 Contract Fee (1.00) 25.07289234 (0.040) 100.143 2,510.88
9-30-00 Contract Fee (1.00) 26.04783415 (0.038) 100.105 2,607.51
9-30-00 Value before Surr Chg 26.04783415 0.000 100.105 2,607.51
9-30-00 Surrender Charge 26.04783415 0.000 100.105 2,607.51
Cumulative Total Returns without/with chrgs. 162.12% A 160.75% C
Avg. Annual Total Returns without/with chrgs. 10.12% B 10.06% 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>
<PAGE>
<TABLE>
<CAPTION>
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) $11.18234032 (0.089) 99.911 $1,117.23
5-1-98 Contract Fee (1.00) $14.64647972 (0.068) 99.842 1,462.34
5-1-99 Contract Fee (1.00) $16.50530362 (0.061) 99.782 1,646.93
5-1-00 Contract Fee (1.00) $21.70654718 (0.046) 99.736 2,164.92
9-30-00 Contract Fee (1.00) $23.42237842 (0.043) 99.693 2,335.05
9-30-00 Value before Surr Chg $23.42237842 0.000 99.693 2,335.05
9-30-00 Surrender Charge (3.75) $23.42237842 (0.160) 99.533 2,331.30
Cumulative Total Returns without/with chgs. 134.22% A 133.13% C
Avg. Annual Total Returns without/with chgs. 21.24% B 21.11% 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) 9.60621064 (0.104) 99.896 959.62
1-24-91 Contract Fee (1.00) 10.04911751 (0.100) 99.796 1,002.87
1-24-92 Contract Fee (1.00) 12.19460473 (0.082) 99.714 1,215.98
1-24-93 Contract Fee (1.00) 12.62194644 (0.079) 99.635 1,257.59
1-24-94 Contract Fee (1.00) 14.16249217 (0.071) 99.565 1,410.08
1-24-95 Contract Fee (1.00) 13.34952632 (0.075) 99.490 1,328.14
1-24-96 Contract Fee (1.00) 17.36302808 (0.058) 99.432 1,726.44
1-24-97 Contract Fee (1.00) 19.93765368 (0.050) 99.382 1,981.44
1-24-98 Contract Fee (1.00) 24.03879635 (0.042) 99.340 2,388.02
1-24-99 Contract Fee (1.00) 25.56082085 (0.039) 99.301 2,538.22
1-24-00 Contract Fee (1.00) 25.15371060 (0.040) 99.261 2,496.79
9-30-00 Value before Surr Chg 28.77607480 0.000 99.261 2,856.35
9-30-00 Contract Fee (1.00) 28.77607480 (0.035) 99.227 2,855.35
9-30-00 Surrender Charge 0.00 28.77607480 0.000 99.227 2,855.35
Cumulative Total Returns without/with chgs. 187.76% A 185.54% C
Avg. Annual Total Returns without/with chgs. 9.46% B 9.39% 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) 9.99164502 (0.100) 99.900 998.16
1-24-91 Contract Fee (1.00) 8.99722270 (0.111) 99.789 897.82
1-24-92 Contract Fee (1.00) 11.88821941 (0.084) 99.705 1,185.31
1-24-93 Contract Fee (1.00) 13.44703876 (0.074) 99.630 1,339.73
1-24-94 Contract Fee (1.00) 15.36027784 (0.065) 99.565 1,529.35
1-24-95 Contract Fee (1.00) 14.72506391 (0.068) 99.497 1,465.10
1-24-96 Contract Fee (1.00) 17.51218685 (0.057) 99.440 1,741.41
1-24-97 Contract Fee (1.00) 19.46632780 (0.051) 99.389 1,934.73
1-24-98 Contract Fee (1.00) 21.49896803 (0.047) 99.342 2,135.76
1-24-99 Contract Fee (1.00) 21.36612521 (0.047) 99.295 2,121.56
1-24-00 Contract Fee (1.00) 20.88065319 (0.048) 99.248 2,072.35
9-30-00 Value before Surr Chg 19.82589259 0.000 99.248 1,967.67
9-30-00 Contract Fee (1.00) 19.82589259 (0.050) 99.197 1,966.67
9-30-00 Surrender Charge 0.00 19.82589259 0.000 99.197 1,966.67
Cumulative Total Returns without/with chgs. 98.26% A 96.67% C
Avg. Annual Total Returns without/with chgs. 6.03% B 5.96% 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) 10.71309911 (0.093) 99.907 1,070.31
1-24-91 Contract Fee (1.00) 9.95244729 (0.100) 99.806 993.32
1-24-92 Contract Fee (1.00) 14.03346495 (0.071) 99.735 1,399.63
1-24-93 Contract Fee (1.00) 15.36060973 (0.065) 99.670 1,530.99
1-24-94 Contract Fee (1.00) 17.72926867 (0.056) 99.613 1,766.07
1-24-95 Contract Fee (1.00) 16.36456157 (0.061) 99.552 1,629.13
1-24-96 Contract Fee (1.00) 20.20965612 (0.049) 99.503 2,010.92
1-24-97 Contract Fee (1.00) 21.90254020 (0.046) 99.457 2,178.36
1-24-98 Contract Fee (1.00) 24.74259869 (0.040) 99.417 2,459.83
1-24-99 Contract Fee (1.00) 24.74448234 (0.040) 99.376 2,459.02
1-24-00 Contract Fee (1.00) 24.51541590 (0.041) 99.336 2,435.25
9-30-00 Value before Surr Chg 27.95942651 0.000 99.336 2,777.36
9-30-00 Contract Fee (1.00) 27.95942651 (0.036) 99.300 2,776.36
9-30-00 Surrender Charge 0.00 27.95942651 0.000 99.300 2,776.36
Cumulative Total Returns without/with chgs. 179.59% A 177.64% C
Avg. Annual Total Returns without/with chgs. 9.19% B 9.13% 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) 10.67978818 (0.094) 99.906 1,066.98
1-24-91 Contract Fee (1.00) 11.32877884 (0.088) 99.818 1,130.82
1-24-92 Contract Fee (1.00) 11.75876120 (0.085) 99.733 1,172.74
1-24-93 Contract Fee (1.00) 11.94119334 (0.084) 99.649 1,189.93
1-24-94 Contract Fee (1.00) 12.07592840 (0.083) 99.566 1,202.36
1-24-95 Contract Fee (1.00) 12.38828249 (0.081) 99.486 1,232.46
1-24-96 Contract Fee (1.00) 12.92030455 (0.077) 99.408 1,284.39
1-24-97 Contract Fee (1.00) 13.39088993 (0.075) 99.334 1,330.17
1-24-98 Contract Fee (1.00) 13.89829761 (0.072) 99.262 1,379.57
1-24-99 Contract Fee (1.00) 14.41383092 (0.069) 99.192 1,429.74
1-24-00 Contract Fee (1.00) 14.89857987 (0.067) 99.125 1,476.83
9-30-00 Value before Surr Chg 15.34580060 0.000 99.125 1,521.16
9-30-00 Contract Fee (1.00) 15.34580060 (0.065) 99.060 1,520.16
9-30-00 Surrender Charge 0.00 15.34580060 0.000 99.060 1,520.16
Cumulative Total Returns without/with chgs. 53.46% A 52.02% C
Avg. Annual Total Returns without/with chgs. 3.73% B 3.65% 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) 11.84027297 (0.084) 99.916 1,183.03
11-8-98 Contract Fee (1.00) 10.96095902 (0.091) 99.824 1,094.17
11-8-99 Contract Fee (1.00) 12.40318097 (0.081) 99.744 1,237.14
11-8-00 Contract Fee (1.00) 14.83837746 (0.067) 99.676 1,479.03
9-30-00 Contract Fee (1.00) 14.71707822 (0.068) 99.608 1,465.94
9-30-00 Value before Surr Chg 14.71707822 0.000 99.608 1,465.94
9-30-00 Surrender Charge (3.75) 14.71707822 (0.255) 99.354 1,462.19
Cumulative Total Returns without/with chgs. 47.17% A 46.22% C
Avg. Annual Total Returns without/with chgs. 10.43% B 10.24% 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) 11.76129584 (0.085) 99.915 1,175.13
11-8-98 Contract Fee (1.00) 11.59398963 (0.086) 99.829 1,157.41
11-8-99 Contract Fee (1.00) 12.84267427 (0.078) 99.751 1,281.07
11-8-00 Contract Fee (1.00) 14.41094270 (0.069) 99.681 1,436.50
9-30-00 Contract Fee (1.00) 14.11953523 (0.071) 99.611 1,406.46
9-30-00 Value before Surr Chg 14.11953523 0.000 99.611 1,406.46
9-30-00 Surrender Charge (3.75) 14.11953523 (0.266) 99.345 1,402.71
Cumulative Total Returns without/with chgs. 41.20% A 40.27% C
Avg. Annual Total Returns without/with chgs. 9.26% B 9.07% D
Natural Resource Securities
1-24-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
1-24-90 Contract Fee (1.00) 12.89722725 (0.078) 99.922 1,288.72
1-24-91 Contract Fee (1.00) 9.78594476 (0.102) 99.820 976.84
1-24-92 Contract Fee (1.00) 10.94243678 (0.091) 99.729 1,091.28
1-24-93 Contract Fee (1.00) 9.15485419 (0.109) 99.620 912.00
1-24-94 Contract Fee (1.00) 14.48022000 (0.069) 99.551 1,441.51
1-24-95 Contract Fee (1.00) 13.03370860 (0.077) 99.474 1,296.51
1-24-96 Contract Fee (1.00) 15.98656882 (0.063) 99.411 1,589.25
1-24-97 Contract Fee (1.00) 13.82698418 (0.072) 99.339 1,373.56
1-24-98 Contract Fee (1.00) 10.60761568 (0.094) 99.245 1,052.75
1-24-99 Contract Fee (1.00) 8.26532170 (0.121) 99.124 819.29
1-24-00 Contract Fee (1.00) 11.19301344 (0.089) 99.034 1,108.49
9-30-00 Value before Surr Chg 14.01018086 0.000 99.034 1,387.49
9-30-00 Contract Fee (1.00) 14.01018086 (0.071) 98.963 1,386.49
9-30-00 Surrender Charge 0.00 14.01018086 0.000 98.963 1,386.49
Cumulative Total Returns without/with chgs. 40.10% A 38.65% C
Avg. Annual Total Returns without/with chgs. 2.93% B 2.83% 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) 10.13988901 (0.099) 99.901 1,012.99
1-24-91 Contract Fee (1.00) 9.37706788 (0.107) 99.795 935.78
1-24-92 Contract Fee (1.00) 12.28427530 (0.081) 99.713 1,224.91
1-24-93 Contract Fee (1.00) 13.54478625 (0.074) 99.640 1,349.60
1-24-94 Contract Fee (1.00) 15.37525910 (0.065) 99.574 1,530.98
1-24-95 Contract Fee (1.00) 15.00928122 (0.067) 99.508 1,493.54
1-24-96 Contract Fee (1.00) 18.15857148 (0.055) 99.453 1,805.92
1-24-97 Contract Fee (1.00) 23.95551361 (0.042) 99.411 2,381.44
1-24-98 Contract Fee (1.00) 28.04564576 (0.036) 99.375 2,787.05
1-24-99 Contract Fee (1.00) 22.75134710 (0.044) 99.331 2,259.92
1-24-00 Contract Fee (1.00) 21.69568691 (0.046) 99.285 2,154.06
9-30-00 Value before Surr Chg 26.86836953 0.000 99.285 2,667.63
9-30-00 Contract Fee (1.00) 26.86836953 (0.037) 99.248 2,666.63
9-30-00 Surrender Charge 0.00 26.86836953 0.000 99.248 2,666.63
Cumulative Total Returns without/with chgs. 168.68% A 166.66% C
Avg. Annual Total Returns without/with chgs. 8.82% B 8.75% 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) 10.69831588 (0.093) 99.907 1,068.83
1-27-94 Contract Fee (1.00) 10.38483458 (0.096) 99.810 1,036.51
1-27-95 Contract Fee (1.00) 9.97357882 (0.100) 99.710 994.47
1-27-96 Contract Fee (1.00) 12.53425589 (0.080) 99.630 1,248.79
1-27-97 Contract Fee (1.00) 15.27722507 (0.065) 99.565 1,521.07
1-27-98 Contract Fee (1.00) 19.83953724 (0.050) 99.514 1,974.32
1-27-99 Contract Fee (1.00) 19.83597117 (0.050) 99.464 1,972.96
1-27-00 Contract Fee (1.00) 18.16274248 (0.055) 99.409 1,805.54
9-30-00 Value before Surr Chg 19.67543321 0.000 99.409 1,955.91
9-30-00 Contract Fee (1.00) 19.67543321 (0.051) 99.358 1,954.91
9-30-00 Surrender Charge 0.00 19.67543321 0.000 99.358 1,954.91
Cumulative Total Returns without/with chgs. 96.75% A 95.49% C
Avg. Annual Total Returns without/with chgs. 8.11% B 8.03% D
Small Cap
11-1-95 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-1-96 Contract Fee (1.00) 12.15810442 (0.082) 99.918 1,214.81
11-1-97 Contract Fee (1.00) 15.56454139 (0.064) 99.854 1,554.17
11-1-98 Contract Fee (1.00) 12.53305565 (0.080) 99.774 1,250.47
11-1-99 Contract Fee (1.00) 19.95716227 (0.050) 99.724 1,990.20
11-1-00 Contract Fee (1.00) 27.75984558 (0.036) 99.688 2,767.31
9-30-00 Value before Surr Chg 30.09528263 0.000 99.688 3,000.13
9-30-00 Contract Fee (1.00) 30.09528263 (0.033) 99.654 2,999.13
9-30-00 Surrender Charge 0.00 30.09528263 0.000 99.654 2,999.13
Cumulative Total Returns without/with chgs. 200.95% A 199.91% C
Avg. Annual Total Returns without/with chgs. 25.11% B 25.02% 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) 8.62834892 (0.116) 99.884 861.83
3-15-96 Contract Fee (1.00) 10.29583833 (0.097) 99.787 1,027.39
3-15-97 Contract Fee (1.00) 12.45337068 (0.080) 99.707 1,241.68
3-15-98 Contract Fee (1.00) 10.55209904 (0.095) 99.612 1,051.11
3-15-99 Contract Fee (1.00) 8.22372879 (0.122) 99.490 818.18
3-15-00 Contract Fee (1.00) 11.49259080 (0.087) 99.403 1,142.40
9-30-00 Value before Surr Chg 9.19887815 0.000 99.403 914.40
9-30-00 Contract Fee (1.00) 9.19887815 (0.109) 99.295 913.40
9-30-00 Surrender Charge 0.00 9.19887815 0.000 99.295 913.40
Cumulative Total Returns without/with chgs. -8.01% A -8.66% C
Avg. Annual Total Returns without/with chgs. -1.27% B -1.37% 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) 11.25238520 (0.089) 99.911 1,124.24
5-1-97 Contract Fee (1.00) 12.77282148 (0.078) 99.833 1,275.15
5-1-98 Contract Fee (1.00) 14.99206191 (0.067) 99.766 1,495.70
5-1-99 Contract Fee (1.00) 14.16674072 (0.071) 99.696 1,412.36
5-1-00 Contract Fee (1.00) 14.02349312 (0.071) 99.624 1,397.08
9-30-00 Value before Surr Chg 13.82521674 0.000 99.624 1,377.33
9-30-00 Contract Fee (1.00) 13.82521674 (0.072) 99.552 1,376.33
9-30-00 Surrender Charge 0.00 13.82521674 0.000 99.552 1,376.33
Cumulative Total Returns without/with chgs. 38.25% A 37.63% C
Avg. Annual Total Returns without/with chgs. 6.16% B 6.07% 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) 10.10361218 (0.099) 99.901 1,009.36
3-15-96 Contract Fee (1.00) 11.81545835 (0.085) 99.816 1,179.38
3-15-97 Contract Fee (1.00) 14.09972316 (0.071) 99.745 1,406.38
3-15-98 Contract Fee (1.00) 16.74256384 (0.060) 99.686 1,668.99
3-15-99 Contract Fee (1.00) 16.19624499 (0.062) 99.624 1,613.53
3-15-00 Contract Fee (1.00) 17.57178164 (0.057) 99.567 1,749.57
9-30-00 Value before Surr Chg 18.54334075 0.000 99.567 1,846.31
9-30-00 Contract Fee (1.00) 18.54334075 (0.054) 99.513 1,845.31
9-30-00 Surrender Charge 0.00 18.54334075 0.000 99.513 1,845.31
Cumulative Total Returns without/with chgs. 85.43% A 84.53% C
Avg. Annual Total Returns without/with chgs. 9.89% B 9.80% 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) 10.86134310 (0.092) 99.908 1,085.13
1-24-91 Contract Fee (1.00) 11.78457305 (0.085) 99.823 1,176.37
1-24-92 Contract Fee (1.00) 12.96036211 (0.077) 99.746 1,292.74
1-24-93 Contract Fee (1.00) 12.79597793 (0.078) 99.668 1,275.35
1-24-94 Contract Fee (1.00) 14.83430587 (0.067) 99.600 1,477.50
1-24-95 Contract Fee (1.00) 13.57814674 (0.074) 99.527 1,351.39
1-24-96 Contract Fee (1.00) 15.44939311 (0.065) 99.462 1,536.63
1-24-97 Contract Fee (1.00) 16.58044652 (0.060) 99.402 1,648.12
1-24-98 Contract Fee (1.00) 17.07240899 (0.059) 99.343 1,696.03
1-24-99 Contract Fee (1.00) 17.97345963 (0.056) 99.287 1,784.54
1-24-00 Contract Fee (1.00) 16.51434534 (0.061) 99.227 1,638.67
9-30-00 Value before Surr Chg 16.05475561 0.000 99.227 1,593.06
9-30-00 Contract Fee (1.00) 16.05475561 (0.062) 99.165 1,592.06
9-30-00 Surrender Charge 0.00 16.05475561 0.000 99.165 1,592.06
Cumulative Total Returns without/with chgs. 60.55% A 59.21% C
Avg. Annual Total Returns without/with chgs. 4.13% B 4.06% 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) 9.54360836 (0.105) 99.895 953.36
1-27-94 Contract Fee (1.00) 12.87738433 (0.078) 99.818 1,285.39
1-27-95 Contract Fee (1.00) 11.94433728 (0.084) 99.734 1,191.25
1-27-96 Contract Fee (1.00) 13.57666972 (0.074) 99.660 1,353.05
1-27-97 Contract Fee (1.00) 16.22074645 (0.062) 99.599 1,615.56
1-27-98 Contract Fee (1.00) 17.53929087 (0.057) 99.542 1,745.89
1-27-99 Contract Fee (1.00) 17.83596631 (0.056) 99.485 1,774.42
1-27-00 Contract Fee (1.00) 21.72974322 (0.046) 99.439 2,160.79
9-30-00 Value before Surr Chg 21.30342182 0.000 99.439 2,118.40
9-30-00 Contract Fee (1.00) 21.30342182 (0.047) 99.392 2,117.40
9-30-00 Surrender Charge 0.00 21.30342182 0.000 99.392 2,117.40
Cumulative Total Returns without/with chgs. 113.03% A 111.74% C
Avg. Annual Total Returns without/with chgs. 9.10% B 9.02% 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) $11.33025487 (0.088) 99.912 1,132.03
5-1-98 Contract Fee (1.00) $12.05591756 (0.083) 99.829 1,203.53
5-1-99 Contract Fee (1.00) $10.37516209 (0.096) 99.732 1,034.74
5-1-00 Contract Fee (1.00) $11.57391078 (0.086) 99.646 1,153.29
9-30-00 Value before Surr Chg $11.43417302 0.000 99.646 1,139.37
9-30-00 Contract Fee (1.00) $11.43417302 (0.087) 99.559 1,138.37
9-30-00 Surrender Charge (3.75) $11.43417302 (0.328) 99.231 1,134.62
Cumulative Total Returns without/with chgs. 14.34% A 13.46% C
Avg. Annual Total Returns without/with chgs. 3.08% B 2.90% 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) 9.92851087 (0.101) 99.899 991.85
1-27-94 Contract Fee (1.00) 14.10178760 (0.071) 99.828 1,407.76
1-27-95 Contract Fee (1.00) 11.94769270 (0.084) 99.745 1,191.72
1-27-96 Contract Fee (1.00) 14.49670523 (0.069) 99.676 1,444.97
1-27-97 Contract Fee (1.00) 14.65338680 (0.068) 99.607 1,459.59
1-27-98 Contract Fee (1.00) 8.46694943 (0.118) 99.489 842.37
1-27-99 Contract Fee (1.00) 7.87667640 (0.127) 99.362 782.65
1-27-00 Contract Fee (1.00) 10.46528953 (0.096) 99.267 1,038.86
9-30-00 Value before Surr Chg 8.62812490 0.000 99.267 856.49
9-30-00 Contract Fee (1.00) 8.62812490 (0.116) 99.151 855.49
9-30-00 Surrender Charge 0.00 8.62812490 0.000 99.151 855.49
Cumulative Total Returns without/with chgs. -13.72% A -14.45% C
Avg. Annual Total Returns without/with chgs. -1.69% B -1.78% 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) 10.30827187 (0.097) 99.903 1,029.83
3-14-91 Contract Fee (1.00) 11.46249369 (0.087) 99.816 1,144.14
3-14-92 Contract Fee (1.00) 12.40064739 (0.081) 99.735 1,236.78
3-14-93 Contract Fee (1.00) 14.10187466 (0.071) 99.664 1,405.45
3-14-94 Contract Fee (1.00) 14.26756989 (0.070) 99.594 1,420.97
3-14-95 Contract Fee (1.00) 14.67370156 (0.068) 99.526 1,460.41
3-14-96 Contract Fee (1.00) 15.92525376 (0.063) 99.463 1,583.98
3-14-97 Contract Fee (1.00) 16.72689010 (0.060) 99.403 1,662.71
3-14-98 Contract Fee (1.00) 18.19344503 (0.055) 99.348 1,807.49
3-14-99 Contract Fee (1.00) 18.93536310 (0.053) 99.296 1,880.20
3-14-00 Contract Fee (1.00) 18.67855396 (0.054) 99.242 1,853.70
9-30-00 Value before Surr Chg 19.67816152 0.000 99.242 1,952.90
9-30-00 Contract Fee (1.00) 19.67816152 (0.051) 99.191 1,951.90
9-30-00 Surrender Charge 0.00 19.67816152 0.000 99.191 1,951.90
Cumulative Total Returns without/with chgs. 96.78% A 95.19% C
Avg. Annual Total Returns without/with chgs. 6.03% B 5.96% 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) 11.48396786 (0.087) 99.913 1,147.40
1-24-91 Contract Fee (1.00) 11.97256112 (0.084) 99.829 1,195.21
1-24-92 Contract Fee (1.00) 14.23979461 (0.070) 99.759 1,420.55
1-24-93 Contract Fee (1.00) 15.97559846 (0.063) 99.697 1,592.71
1-24-94 Contract Fee (1.00) 16.50535338 (0.061) 99.636 1,644.53
1-24-95 Contract Fee (1.00) 15.57082971 (0.064) 99.572 1,550.42
1-24-96 Contract Fee (1.00) 19.81799066 (0.050) 99.521 1,972.31
1-24-97 Contract Fee (1.00) 20.96455989 (0.048) 99.474 2,085.42
1-24-98 Contract Fee (1.00) 25.18650535 (0.040) 99.434 2,504.39
1-24-99 Contract Fee (1.00) 28.07635720 (0.036) 99.398 2,790.74
1-24-00 Contract Fee (1.00) 39.61605038 (0.025) 99.373 3,936.77
9-30-00 Value before Surr Chg 33.51433414 0.000 99.373 3,330.42
9-30-00 Contract Fee (1.00) 33.51433414 (0.030) 99.343 3,329.42
9-30-00 Surrender Charge 0.00 33.51433414 0.000 99.343 3,329.42
Cumulative Total Returns without/with chgs. 235.14% A 232.94% C
Avg. Annual Total Returns without/with chgs. 10.90% B 10.84% D
Zero Coupon - 2000
3-14-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-14-90 Contract Fee (1.00) 10.38718687 (0.096) 99.904 1,037.72
3-14-91 Contract Fee (1.00) 11.51435997 (0.087) 99.817 1,149.33
3-14-92 Contract Fee (1.00) 12.66478418 (0.079) 99.738 1,263.16
3-14-93 Contract Fee (1.00) 15.54092694 (0.064) 99.674 1,549.02
3-14-94 Contract Fee (1.00) 16.04445243 (0.062) 99.611 1,598.21
3-14-95 Contract Fee (1.00) 16.25253463 (0.062) 99.550 1,617.94
3-14-96 Contract Fee (1.00) 17.85770371 (0.056) 99.494 1,776.73
3-14-97 Contract Fee (1.00) 18.44735099 (0.054) 99.440 1,834.40
3-14-98 Contract Fee (1.00) 19.76702265 (0.051) 99.389 1,964.62
3-14-99 Contract Fee (1.00) 20.68388118 (0.048) 99.341 2,054.75
3-14-00 Contract Fee (1.00) 21.17997133 (0.047) 99.293 2,103.03
9-30-00 Value before Surr Chg 21.69392274 0.000 99.293 2,154.06
9-30-00 Contract Fee (1.00) 21.69392274 (0.046) 99.247 2,153.06
9-30-00 Surrender Charge 0.00 21.69392274 0.000 99.247 2,153.06
Cumulative Total Returns without/with chgs. 116.94% A 115.31% C
Avg. Annual Total Returns without/with chgs. 6.93% B 6.86% D
Zero Coupon - 2005
3-14-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-14-90 Contract Fee (1.00) 10.39705125 (0.096) 99.904 1,038.71
3-14-91 Contract Fee (1.00) 11.55409702 (0.087) 99.817 1,153.30
3-14-92 Contract Fee (1.00) 12.66096149 (0.079) 99.738 1,262.78
3-14-93 Contract Fee (1.00) 16.42515250 (0.061) 99.677 1,637.22
3-14-94 Contract Fee (1.00) 16.93608169 (0.059) 99.618 1,687.14
3-14-95 Contract Fee (1.00) 17.21684038 (0.058) 99.560 1,714.11
3-14-96 Contract Fee (1.00) 19.49696512 (0.051) 99.509 1,940.12
3-14-97 Contract Fee (1.00) 20.18399547 (0.050) 99.459 2,007.49
3-14-98 Contract Fee (1.00) 22.91805949 (0.044) 99.416 2,278.42
3-14-99 Contract Fee (1.00) 24.26018714 (0.041) 99.375 2,410.85
3-14-00 Contract Fee (1.00) 23.33105802 (0.043) 99.332 2,317.51
9-30-00 Value before Surr Chg 24.49713368 0.000 99.332 2,433.34
9-30-00 Contract Fee (1.00) 24.49713368 (0.041) 99.291 2,432.34
9-30-00 Surrender Charge 0.00 24.49713368 0.000 99.291 2,432.34
Cumulative Total Returns without/with chgs. 144.97% A 143.23% C
Avg. Annual Total Returns without/with chgs. 8.06% B 8.00% D
Zero Coupon - 2010
3-14-89 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
3-14-90 Contract Fee (1.00) 10.26881437 (0.097) 99.903 1,025.88
3-14-91 Contract Fee (1.00) 11.36823998 (0.088) 99.815 1,134.72
3-14-92 Contract Fee (1.00) 12.29280886 (0.081) 99.733 1,226.00
3-14-93 Contract Fee (1.00) 16.18583635 (0.062) 99.672 1,613.27
3-14-94 Contract Fee (1.00) 16.90519720 (0.059) 99.612 1,683.97
3-14-95 Contract Fee (1.00) 17.12909328 (0.058) 99.554 1,705.27
3-14-96 Contract Fee (1.00) 19.99802778 (0.050) 99.504 1,989.88
3-14-97 Contract Fee (1.00) 20.76400623 (0.048) 99.456 2,065.10
3-14-98 Contract Fee (1.00) 25.18350257 (0.040) 99.416 2,503.65
3-14-99 Contract Fee (1.00) 26.58740692 (0.038) 99.379 2,642.22
3-14-00 Contract Fee (1.00) 25.04865911 (0.040) 99.339 2,488.30
9-30-00 Value before Surr Chg 26.04783415 0.000 99.339 2,587.55
9-30-00 Contract Fee (1.00) 26.04783415 (0.038) 99.300 2,586.55
9-30-00 Surrender Charge 0.00 26.04783415 0.000 99.300 2,586.55
Cumulative Total Returns without/with chgs. 160.48% A 158.66% C
Avg. Annual Total Returns without/with chgs. 8.64% B 8.57% 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) 8.69770930 (0.115) 99.885 868.77
5-1-00 Contract Fee (1.00) 11.95328528 (0.084) 99.801 1,192.95
9-30-00 Value before Surr Chg 16.69223649 0.000 99.801 1,665.91
9-30-00 Contract Fee (1.00) 16.69223649 (0.060) 99.741 1,664.91
9-30-00 Surrender Charge (22.00) 16.69223649 (1.318) 98.423 1,642.91
Cumulative Total Returns without/with chgs. 66.92% A 64.29% C
Avg. Annual Total Returns without/with chgs. 23.59% B 22.78% 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) 7.79046525 (0.128) 99.872 778.05
5-1-00 Contract Fee (1.00) 8.22436237 (0.122) 99.750 820.38
9-30-00 Value before Surr Chg 8.81856855 0.000 99.750 879.65
9-30-00 Contract Fee (1.00) 8.81856855 (0.113) 99.637 878.65
9-30-00 Surrender Charge (22.00) 8.81856855 (2.495) 97.142 856.65
Cumulative Total Returns without/with chgs. -11.81% A -14.33% C
Avg. Annual Total Returns without/with chgs. -5.06% B -6.20% D
AIM Growth
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) 9.50102067 (0.105) 99.895 949.10
9-30-00 Value before Surr Chg 11.21690031 0.000 99.895 1,120.51
9-30-00 Contract Fee (1.00) 11.21690031 (0.089) 99.806 1,119.51
9-30-00 Surrender Charge (35.00) 11.21690031 (3.120) 96.685 1,084.51
Cumulative Total Returns without/with chgs. 12.17% A 8.45% C
Avg. Annual Total Returns without/with chgs. 13.81% B 9.57% D
Alger Growth
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) 9.67543339 (0.103) 99.897 966.54
9-30-00 Value before Surr Chg 10.79791176 0.000 99.897 1,078.68
9-30-00 Contract Fee (1.00) 10.79791176 (0.093) 99.804 1,077.68
9-30-00 Surrender Charge (35.00) 10.79791176 (3.241) 96.563 1,042.68
Cumulative Total Returns without/with chgs. 7.98% A 4.27% C
Avg. Annual Total Returns without/with chgs. 9.03% B 4.82% D
Alger Leveraged All-Cap
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) 9.80165647 (0.102) 99.898 979.17
9-30-00 Value before Surr Chg 11.58698062 0.000 99.898 1,157.52
9-30-00 Contract Fee (1.00) 11.58698062 (0.086) 99.812 1,156.52
9-30-00 Surrender Charge (35.00) 11.58698062 (3.021) 96.791 1,121.52
Cumulative Total Returns without/with chgs. 15.87% A 12.15% C
Avg. Annual Total Returns without/with chgs. 18.05% B 13.79% D
S&P 500 Index
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) $9.77883577 (0.102) 99.898 976.88
9-30-00 Value before Surr Chg $10.28531388 0.000 99.898 1,027.48
9-30-00 Contract Fee (1.00) $10.28531388 (0.097) 99.801 1,026.48
9-30-00 Surrender Charge (35.00) $10.28531388 (3.403) 96.398 991.48
Cumulative Total Returns without/with chgs. 2.85% A -0.85% C
Avg. Annual Total Returns without/with chgs. 3.22% B -0.96% D
USA Growth
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) $9.85986864 (0.101) 99.899 984.99
9-30-00 Value before Surr Chg $10.61203071 0.000 99.899 1,060.13
9-30-00 Contract Fee (1.00) $10.61203071 (0.094) 99.804 1,059.13
9-30-00 Surrender Charge (35.00) $10.61203071 (3.298) 96.506 1,024.13
Cumulative Total Returns without/with chgs. 6.12% A 2.41% C
Avg. Annual Total Returns without/with chgs. 6.92% B 2.72% D
USA Fixed Income
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) $10.38197824 (0.096) 99.904 1,037.20
9-30-00 Value before Surr Chg $10.33357562 0.000 99.904 1,032.36
9-30-00 Contract Fee (1.00) $10.33357562 (0.097) 99.807 1,031.36
9-30-00 Surrender Charge (35.00) $10.33357562 (3.387) 96.420 996.36
Cumulative Total Returns without/with chgs. 3.34% A -0.36% C
Avg. Annual Total Returns without/with chgs. 3.77% B -0.41% D
USA Diversified Asset
11-11-99 Purchase $1,000.00 $10.00000000 100.000 100.000 $1,000.00
11-11-00 Contract Fee (1.00) $10.27214999 (0.097) 99.903 1,026.21
9-30-00 Value before Surr Chg $10.44561652 0.000 99.903 1,043.54
9-30-00 Contract Fee (1.00) $10.44561652 (0.096) 99.807 1,042.54
9-30-00 Surrender Charge (35.00) $10.44561652 (3.351) 96.456 1,007.54
Cumulative Total Returns without/with chgs. 4.46% A 0.75% C
Avg. Annual Total Returns without/with chgs. 5.03% B 0.85% D
Franklin Aggressive Growth
5-1-00 Purchase $1,000.00 $9.99884932 100.012 100.012 $1,000.00
9-30-00 Value before Surr Chg $11.83985414 0.000 100.012 1,184.12
9-30-00 Contract Fee (1.00) $11.83985414 (0.084) 99.927 1,183.12
9-30-00 Surrender Charge (42.50) $11.83985414 (3.590) 96.337 1,140.62
Cumulative Total Returns without/with chgs. 18.41% A 14.06% C
Avg. Annual Total Returns without/with chgs. 50.05% B 37.16% D
Franklin Technology Securities
5-1-00 Purchase $1,000.00 $9.99884932 100.012 100.012 $1,000.00
9-30-00 Value before Surr Chg $12.08838173 0.000 100.012 1,208.98
9-30-00 Contract Fee (1.00) $12.08838173 (0.083) 99.929 1,207.98
9-30-00 Surrender Charge (42.50) $12.08838173 (3.516) 96.413 1,165.48
Cumulative Total Returns without/with chgs. 20.90% A 16.55% C
Avg. Annual Total Returns without/with chgs. 57.73% B 44.44% D
<FN>
A =
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>
