WRL FREEDOM PREMIER(SM)
Supplement Dated December 1, 2000
to Prospectus Dated May 1, 2000
as Supplemented September 1, 2000
and October 18, 2000
Effective December 1, 2000:
WRL Series Fund, Inc. offers a new investment option under this Contract. The
new investment option is available in most states. Please contact your agent
regarding availability of this new investment option in your state.
The prospectus is amended in the following respects:
The first sentence of the second paragraph on the front page is amended to read
as follows:
"You can put your money into 33 investment choices: a fixed account and 32
subaccounts of the WRL Series Annuity Account."
All other references to 31 subaccounts or portfolios appearing elsewhere in the
prospectus are amended to refer to 32.
The following information is added to the tables on the front page and on page
5:
WRL LKCM Capital Growth
The following information is added to the Annuity Contract Fee Table on page 11:
<TABLE>
<CAPTION>
--------------------------------------- ------------------ ------------------ ----------------- ----------------------
Management Other Rule 12b-1 Total Portfolio
Portfolio Fees Expenses Fees Annual Expenses
--------------------------------------- ------------------ ------------------ ----------------- ----------------------
<S> <C> <C> <C> <C>
WRL LKCM Capital Growth(18) 0.80% 0.20% N/A 1.00%
--------------------------------------- ------------------ ------------------ ----------------- ----------------------
</TABLE>
The footnotes on pages 12 and 13 are amended as follows:
The following information is added to the table under footnote (9):
<TABLE>
<CAPTION>
--------------------------------------- ------------------------- ----------------------- ----------------------------
Expense Reimbursement Expense Ratio Without
Limit Amount Reimbursement
--------------------------------------- ------------------------- ----------------------- ----------------------------
<S> <C> <C> <C>
WRL LKCM Capital Growth 1.00% N/A N/A
--------------------------------------- ------------------------- ----------------------- ----------------------------
</TABLE>
Footnote (18) is added as follows:
(18) Because this portfolio commenced operations on December 1, 2000, the
percentages set forth as "Other Expenses" and "Total Annual Expenses"
are estimates.
The following information is added to the table on page 14 under the heading
"Examples":
<TABLE>
<CAPTION>
============================== =========================================== ===========================================
If you Annuitize* or Remain Invested in
the Contract at the End of the Applicable
If You Surrender the Contract at the End Time Period or If You Do Not Surrender or
Subaccounts of the Applicable Time Period Annuitize Under the Contract
============================== =========================================== ===========================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 Year 3 Years 5 Years 10 Years 1 Year 3 Years 5 Years 10 Years
------------------------------ --------- ---------- ---------- ----------- --------- ---------- ---------- -----------
WRL LKCM Capital Growth $101 $156 $204 $348 $31 $96 $164 $348
============================== ========= ========== ========== =========== ========= ========== ========== ===========
</TABLE>
<PAGE>
The following information is added to the table on page 26 under the heading
"Investment Choices":
<TABLE>
<CAPTION>
------------------------------------------- --------------------------------------------------------------------------
Portfolio Adviser or Sub-Adviser
------------------------------------------- --------------------------------------------------------------------------
<S> <C>
WRL LKCM Capital Growth Luther King Capital Management Corporation
------------------------------------------- --------------------------------------------------------------------------
</TABLE>
The paragraph at the end of Appendix A on page 69 is amended to read as follows:
Because the WRL Value Line Aggressive Growth, WRL Great Companies
--America(SM) and WRL Great Companies -- Technology(SM) portfolios did not
commence operations until May 1, 2000; the Fidelity VIP Equity-Income Portfolio
- Service Class 2, Fidelity VIP II Contrafund(R) Portfolio - Service Class 2 and
Fidelity VIP III Growth Opportunities Portfolio - Service Class 2 did not
commence operations until May 1, 2000; the WRL Gabelli Global Growth and WRL
Great Companies - Global(2) portfolios did not commence operations until
September 1, 2000; and the WRL LKCM Capital Growth portfolio did not commence
operations until December 1, 2000, there is no condensed financial information
for these subaccounts for the year ended December 31, 1999.
The following information is added to each of the tables in Appendix B on pages
72-73 and 75-76:
<TABLE>
<CAPTION>
-------------------------------------- ------------ ------------- ------------- ------------------ -------------------
1 Year 5 Years 10 Years Inception of the Subaccount
Ended Ended Ended Subaccount to Inception Date**
Subaccount 12/31/99 12/31/99 12/31/99 12/31/99**
-------------------------------------- ------------ ------------- ------------- ------------------ -------------------
<S> <C> <C> <C> <C> <C>
WRL LKCM Capital Growth N/A N/A N/A N/A 12/01/2000
-------------------------------------- ------------ ------------- ------------- ------------------ -------------------
</TABLE>
