SUPPLEMENT DATED JANUARY 1, 1998 TO
PROSPECTUS DATED MAY 1, 1997
WRL SERIES ANNUITY ACCOUNT
C.A.S.E. RESERVE VARIABLE ANNUITY
WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO
On December 16, 1997, Western Reserve ("WRL") obtained an Order from
the U.S. Securities and Exchange Commission ("SEC") approving the substitution
of shares of the C.A.S.E. Growth Portfolio of the WRL Series Fund, Inc. (the
"Fund") for shares of the Fund's C.A.S.E. Quality Growth Portfolio and the
C.A.S.E. Growth & Income Portfolio held by the corresponding Sub-Accounts of the
WRL Series Annuity Account (the "Account"). The three C.A.S.E. investment
portfolios have been offered through your C.A.S.E. Reserve Variable Annuity
Contract (the "Contract").
On December 16, 1997, the substitution was effected in accordance with
the SEC Order. The effect of the share substitution was to replace shares of the
C.A.S.E. Quality Growth and the C.A.S.E. Growth & Income Portfolios with shares
of the C.A.S.E. Growth Portfolio. Immediately following the substitution, the
assets in the C.A.S.E. Quality Growth and the C.A.S.E. Growth & Income
Sub-Accounts were automatically transferred to the C.A.S.E. Growth Sub-Account,
thereby consolidating the C.A.S.E. Quality and C.A.S.E. Growth & Income
Sub-Accounts into the C.A.S.E. Growth Sub-Account. The portfolio substitutions
and sub-account consolidations took place at net asset value with no change in
the amount of any Owner's benefits or Annuity Value. WRL and its affiliates did
not receive any compensation or remuneration as a result of this transaction.
As of the date of this supplement, FIFTEEN new Sub-Accounts of the
Account are being added to your Contract. Together with the C.A.S.E. Growth
Sub-Account, your investment options now total SIXTEEN. You may allocate new
Purchase Payments and transfer existing Annuity Value to one or more of these
sixteen Sub-Accounts or the Fixed Account, subject to certain conditions. Each
Sub-Account invests in one investment portfolio of the Fund. The sixteen
investment portfolios of the Fund now available under your Contract are: the
Aggressive Growth Portfolio, Emerging Growth Portfolio, Growth Portfolio, Global
Portfolio, Balanced Portfolio, Strategic Total Return Portfolio, Bond Portfolio,
Growth & Income Portfolio, Money Market Portfolio, Tactical Asset Allocation
Portfolio, Value Equity Portfolio, C.A.S.E. Growth Portfolio, Global Sector
Portfolio, International Equity Portfolio, U.S. Equity Portfolio, and Third
Avenue Value Portfolio. To learn more about your new investment options,
including a description of risks, please consult the prospectus for the Fund.
As a result of the addition of the new Sub-Accounts, your Contract is
identical to another variable annuity contract offered by WRL and supported by
the Account. This contract is marketed under the name WRL Freedom Attainer (the
"Attainer Contract"). For this reason, the information you will be receiving in
the future will refer to the Attainer Contract and will be applicable in every
respect to your Contract. You should carefully read the enclosed prospectus for
the Attainer Contract which describes your new investment options and retain it
for future reference.
wrl00189.doc
