SUPPLEMENT DATED JANUARY 1, 1998 TO
PROSPECTUS DATED MAY 1, 1997
WRL SERIES ANNUITY ACCOUNT
MERIDIAN SECTOR 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: (1) shares of the U.S. Equity Portfolio of the WRL Series Fund, Inc. (the
"Fund") for shares of the US Sector Portfolio of the Fund, and (2) shares of the
Global Portfolio of the Fund for shares of the Foreign Sector Portfolio of the
Fund currently held by the corresponding Sub-Accounts of the WRL Series Annuity
Account (the "Account").
On December 16, 1997, the substitution was effected in accordance with
the SEC Order. The effect of the share substitution was to replace (1) the
former US Sector Portfolio with the U.S. Equity Portfolio; and (2) the former
Foreign Sector Portfolio with the Global Portfolio as investment options under
your Meridian Sector Variable Annuity Contract (the "Contract"). At that time,
the name of the US Sector Sub-Account was changed to the "U.S. Equity
Sub-Account" and the name of the Foreign Sector Sub-Account was changed to the
"Global Sub-Account." The Portfolio and Sub-Account substitutions 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, THIRTEEN new Sub-Accounts of the
Account are being added to your Contract. Together with the Global, U.S. Equity
and Global Sector Sub-Accounts, 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 Conqueror (the
"Conqueror Contract"). For this reason, the information you will be receiving in
the future will refer to the Conqueror Contract and will be applicable in every
respect to your Contract. You should carefully read the enclosed prospectus for
the Conqueror Contract which describes your new investment options and retain it
for future reference.
wrl00190.doc
