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Previous: MONTGOMERY FUNDS I, 485BPOS, 1998-02-02 |
Next: PUBLIC STORAGE PROPERTIES XI INC, S-4, 1998-02-02 |
<PAGE>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON
FEBRUARY 2, 1998
FILE NO.: 33-35445
FILE NO.: 811-6117
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
-----------------------------------------------
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 12 /X/
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 13 /X/
------------------------
ALLSTATE LIFE OF NEW YORK VARIABLE ANNUITY ACCOUNT II
(EXACT NAME OF REGISTRANT)
ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
(NAME OF DEPOSITOR)
MICHAEL J. VELOTTA
VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL
ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
ONE ALLSTATE DRIVE
FARMINGVILLE, NEW YORK 11738
1-800-256-9392
(NAME AND COMPLETE ADDRESS OF AGENT FOR SERVICE)
COPIES TO:
RICHARD T. CHOI, ESQ. CHRISTINE A. EDWARDS, ESQ.
FREEDMAN, LEVY, KROLL & SIMONDS DEAN WITTER REYNOLDS, INC.
1050 CONNECTICUT AVE., NW SUITE 825 TWO WORLD TRADE CENTER
WASHINGTON, DC 20036 NEW YORK, NEW YORK 10048
<PAGE>
------------------------
IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE
(CHECK APPROPRIATE BOX)
___ immediately upon filing pursuant to paragraph (b) of Rule 485
___ on (date) pursuant to paragraph (b) of Rule 485
x
___ 60 days after filing pursuant to paragraph (a)(1) of Rule 485
___ on (date) pursuant to paragraph (a)(1) of Rule 485
If appropriate, check the following box:
___ this post-effective amendment designates a new effective date for a
previously filed post-effective amendment
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
CROSS REFERENCE SHEET
Showing Location in Part A (Prospectus) and Part B of Registration Statement of
Information Required by Form N-4
ITEM OF FORM N-4
PROSPECTUS CAPTION
- --------------------- --------------------
1. Cover Page Cover Page
2. Definitions Glossary
3. Synopsis Introduction;
Summary of Separate
Account Expenses
4. Condensed Financials
(a) Chart Condensed Financial
Statements
(b) Performance Data Performance Data
(c) Location of Others Previously Filed
with Registration
Statement
5. General
(a) Depositor Allstate Life
Insurance Co. of New
York
(b) Registrant The Variable Account
(c) Portfolio Company Dean Witter Variable
Investment Series
(d) Fund Prospectus Dean Witter Variable
Investment Series
(e) Voting Rights Voting Rights
(f) Administrators Charges & Other
Deductions Contract
Maintenance Charge
6. Deductions & Expenses Charges & Other
Deductions
(a) General Charges & Other
Deductions
(b) Sales Load Early Withdrawal
Charge
(c) Special Purchase Plans N/A
(d) Commissions Sales Commission
(e) Fund Expenses Summary of Expenses;
Dean Witter Variable
Investment Series
Expenses
(f) Organizational Expenses N/A
7. Contracts
(a) Persons with Rights The Contracts;
Benefits; Income
Payments; Voting
Rights; Assignments;
Beneficiaries;
Contract Owners
(b)(i) Allocation of Purchase Payments Allocation of
Purchase Payments
(ii) Transfers Transfers
(iii) Exchanges N/A
(c) Changes Modification
(d) Inquiries Customer Inquiries
8. Annuity Period Income Payments
(a) Material Factors Amount of Variable
Annuity Income
<PAGE>
Payments
(b) Dates Payout Start Date
(c) Frequency, duration & level Amount of Variable
Annuity Income
Payments
(d) AIR Amount of Variable
Annuity Income
Payments
(e) Minimum Amount of Variable
Annuity Income
Payments
(f) -- Change Options Income Plans
-- Transfer --
9. Death Benefit Benefits Under the
Contract
10. Purchases & Contract Value
(a) Purchases Purchase of the
Contract: Crediting
of Purchase Payments
(b) Valuation Value of Variable
Account Accumulation
Units
(c) Daily Calculation Value of Variable
Account Accumulation
Units; Allocation of
Purchase Payments
(d) Underwriter Dean Witter Reynolds
Inc.
11. Redemptions
(a) -- By Owners Surrender &
Withdrawals
(b) -- By Annuitant Income Plans
(c) Texas ORP N/A
(d) Lapse Default
(e) Free Look Introduction
12. Taxes Federal Tax Matters
13. Legal Proceedings N/A
14. SAI Contents SAI Table of
Contents
15. Cover Page SAI: Cover Page
16. Table of Contents SAI: Table of
Contents
17. General Information & History
(a) Depositor's Name Allstate Life
Insurance Company of
New York
(b) Assets of Sub-Account The Variable Account
(c) Control of Depositor Allstate Life
Insurance Company of
New York
18. Services
(a) Fees & Expenses of Registrant Contract Maintenance
Charge
(b) Management Contracts Contract Maintenance
Charge; Sales
Commissions
(c) Custodian SAI: Safekeeping of
the Variable
Account's Assets
Independent Public Accountant SAI: Experts
<PAGE>
(d) Assets of Registrant SAI: Safekeeping of
the Variable Account
Assets
(e) Affiliated Persons N/A
(f) Principal Underwriter Dean Witter Reynolds
Inc.
19. Purchase of Securities Being Offered
(a) Offering SAI: Purchase of
Contracts
(b) Sales load SAI: Sales
Commissions
20. Underwriters
(a) Principal Underwriter N/A
(b) Continuous offering SAI: Purchase of
Contracts
(c) Commissions SAI: Sales
Commissions; Dean
Witter Reynolds Inc.
(d) Unaffiliated Underwriters N/A
21. Calculation of Performance Data SAI: Performance
Data
22. Annuity Payments SAI: Income Payments
23. Financial Statements
(a) Financial Statements of Registrant SAI: Allstate Life
of New York Variable
Annuity Account II
Financial Statements
(b) Financial Statements of Depositor SAI: Allstate Life
Insurance Company of
New York Financial
Statements
24a. Financial Statements Part C. Financial
Statements
24b. Exhibits Part C. Exhibits
25. Directors and Officers Part C. Directors &
Officers of
Depositor
26. Persons Controlled By or Under Common
Control with Depositor or Registrant Part C. Persons
Controlled by or
Under Common Control
with Depositor or
Registrant
27. Number of Contract Owners Part C. Number of
Contract Owners
28. Indemnification Part C.
Indemnification
29a. Relationship of Principal Underwriter
to Other Investment Companies Part C. Relationship
of Principal
Underwriter to Other
Investment Companies
29b. Principal Underwriters Part C. Principal
Underwriters
29c. Compensation of Underwriter Part C. Compensation
of Dean Witter
30. Location of Accounts and Records Part C. Location of
Accounts and Records
31. Management Services Part C. Management
Services
32. Undertakings Part C. Undertakings
<PAGE>
Registrant is filing this Post-Effective Amendment No. 12 solely for the purpose
of revising the disclosure contained in the Registration Statement to reflect
the availability of certain optional enhancements to the Contracts described
therein. These enhancements include an expanded Dollar Cost Averaging Program
(including the addition of a Dollar Cost Averaging Fixed Account), a later
Payout Start Date, and the addition of a Performance Death Benefit, Automatic
Portfolio Rebalancing, and a Widow/Widower Withdrawal Charge Waiver.
Registrant does not intend for this Post-Effective Amendment No. 12 to amend or
delete any other part of this Registration Statement, except as specifically
noted herein.
<PAGE>
SUPPLEMENT DATED APRIL 3, 1998
TO THE PROSPECTUS DATED MAY 1, 1997,
AS SUPPLEMENTED JANUARY 1, 1998,
OF ALLSTATE LIFE OF NEW YORK VARIABLE ANNUITY ACCOUNT II
OF ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
Allstate Life Insurance Company of New York ("Allstate Life of NY") is
pleased to announce the availability of new optional enhancements, described
below, to the Contracts described in the Prospectus. Capitalized terms have the
same meaning as given to them in the Prospectus. Please retain this Supplement
for future reference.
DOLLAR COST AVERAGING PROGRAM
Allstate Life of NY now permits automatic transfers among any
Sub-Account of the Variable Account in the Dollar Cost Averaging Program and
offers a Dollar Cost Averaging Fixed Account. Accordingly, your Prospectus is
amended as follows:
Page 3: Replace the "Dollar Cost Averaging" definition in the Glossary with the
following definition:
Dollar Cost Averaging Program - A method to transfer $100 or more of
the Cash Value in any Sub-Account of the Variable Account or the Dollar Cost
Averaging Fixed Account automatically to any Sub-Accounts on a monthly basis or
other frequencies that may be offered by the Company.
Page 5: Under Question 4, in the third sentence, replace "the Money Market
Sub-Account to other Sub-Accounts" with "any Sub-Account of the Variable Account
or the Dollar Cost Averaging Fixed Account, but not from both, to any
Sub-Accounts". Also change "Dollar Cost Averaging" to "The Dollar Cost
Averaging Program".
Page 13: Under "Transfers":
1) After the second sentence in the first paragraph add the following
sentence:
Transfers into the Dollar Cost Averaging Fixed Account are not
permitted.
2) In the fifth paragraph replace each instance of "Dollar Cost
Averaging" with "the Dollar Cost Averaging Program" and replace "the
Money Market Sub-Account to any other" with "any Sub-Account of the
Variable Account or the Dollar Cost Averaging Fixed Account, but not
from both, to any".
<PAGE>
Page 19: Under the continuation of "The Fixed Account":
1) Add the following sentence at the end of the second paragraph:
"The Company is also currently offering a Dollar Cost Averaging Fixed
Account."
2) Add the following paragraph after the second paragraph:
The Dollar Cost Averaging Fixed Account
Purchase Payments may also be allocated to the Dollar Cost Averaging
Fixed Account. Transfers are not allowed into the Dollar Cost Averaging Fixed
Account. Once Purchase Payments have been allocated to the Dollar Cost
Averaging Fixed Account, interest is earned for a one year period at a current
rate in effect at the time of allocation. This rate may be different from the
rate of the 1 year Fixed Account Guarantee Period discussed above. After the
one year period, a renewal rate will be declared. Subsequent renewal dates will
be every twelve months for each Purchase Payment. The renewal rate will be
guaranteed by the Company for a full year and will not be less than the minimum
guaranteed rate found in the Contract.
3) Under "Transfers, Surrenders, and Withdrawals" in the first sentence
of the first paragraph after the first reference to "Fixed Account"
insert:
(but not the Dollar Cost Averaging Fixed Account)
4) Under "Transfers, Surrenders, and Withdrawals" at the end of the
second paragraph add:
These restrictions do not apply to transfers pursuant to the Dollar
Cost Averaging Program. Also, the Company reserves the right to waive these
restrictions.
AUTOMATIC PORTFOLIO REBALANCING
Allstate Life of NY now offers Automatic Portfolio Rebalancing.
Accordingly, your Prospectus is amended as follows:
Page 13: Add the following paragraphs after the fifth paragraph under
"Transfers":
Transfers may also be made automatically through Automatic Portfolio
Rebalancing prior to the Payout Start Date. By electing Automatic Portfolio
Rebalancing, all of the money allocated to Sub-Accounts of the Variable Account
will be rebalanced to the desired allocation on a quarterly basis (or other
frequencies that may be offered by the Company), determined from the first date
that you decide to rebalance. Upon rebalancing,
<PAGE>
your money will be transferred among Sub-Accounts of the Variable Account to
achieve the desired allocation.
The desired allocation will be the allocation initially selected,
unless subsequently changed. You may change the allocation at any time by
giving us written notice. The new allocation will be effective with the first
rebalancing that occurs after we receive the written request.
Transfers made through Automatic Portfolio Rebalancing are not
assessed a $25 charge and are not counted towards the twelve free transfers per
Contract Year. Any money allocated to the Fixed Account or the Dollar Cost
Averaging Fixed Account will not be included in the rebalancing.
WIDOW/WIDOWER WITHDRAWAL CHARGE WAIVER
Allstate Life of NY now offers a Widow/Widower Withdrawal Charge
Waiver. Accordingly, your Prospectus is amended as follows:
Page 16: Under number 4, please add the following sentence to the end of the
first paragraph:
If the Contract is continued prior to the Payout Start Date, the
surviving spouse may make a single withdrawal of any amount within one year of
the date of death without incurring an Early Withdrawal Charge.
PAYOUT START DATE
Allstate Life of NY now allows a later Payout Start Date. Accordingly
your prospectus is amended as follows:
Page 17: Under "Payout Start Date", replace the two references to "age 85" with
"age 90".
PERFORMANCE DEATH BENEFIT
Allstate Life of NY now offers, at the time the Contract is purchased,
the option to elect the Performance Death Benefit. Accordingly, your Prospectus
is amended as follows:
Page 4: Add the definition of Performance Death Benefit:
Performance Death Benefit - An additional death benefit option which
can be selected at the time the Contract is purchased.
Page 5: Question 6, after the first sentence insert the following:
<PAGE>
For Contracts with the optional Performance Death Benefit provision,
an additional Mortality and Expense Risk Charge of .13% is assessed. As a
result, Contracts with the optional Performance Death Benefit provision will
have a Mortality and Expense Risk Charge of 1.38% and an Administrative Expense
Charge of .10%.
Page 6: Question 7, before the last sentence of the first paragraph insert the
following:
For Contracts with the optional Performance Death Benefit provision,
the Death Benefit will be the greatest of (1) through (3) above, or (4) the
Performance Death Benefit. If the optional Performance Death Benefit is
selected, it applies only at the death of Owner. It does not apply to the death
of the Annuitant if different from the Owner unless the Owner is a nonnatural
person.
Page 7: Replace the "Separate Account Annual Expenses" chart in its entirety
with the following chart:
SEPARATE ACCOUNT ANNUAL EXPENSES (as a percentage of average account value)
WITHOUT THE OPTIONAL WITH THE OPTIONAL
PERFORMANCE PERFORMANCE
DEATH BENEFIT DEATH BENEFIT
PROVISION PROVISION
Mortality and Expense Risk Charge 1.25% 1.38%
Administrative Expense Charge .10% .10%
Total Separate Account Annual Expenses 1.35% 1.48%
Page 8: The Example provided in the Prospectus is calculated without the
optional Performance Death Benefit provision and includes total separate account
annual expenses of 1.35%. Please insert the Example, as indicated below, which
is calculated with the optional Performance Death Benefit provision and includes
total separate account annual expenses of 1.48%.
Add the following table under the section: "If you surrender your Contract..."
1 Year 3 Year 5 Year 10 Year
------ ------ ------ -------
Money Market Sub-Account $64 $91 $120 $240
Quality Income Plus Sub-Account $64 $91 $121 $241
High Yield Sub-Account $64 $90 $120 $239
Utilities Sub-Account $65 $95 $128 $256
Income Builder Sub-Account $67 $100 $136 $271
Dividend Growth Sub-Account $64 $92 $123 $245
Capital Growth Sub-Account $66 $97 $131 $262
Global Dividend Growth Sub-Account $67 $101 $137 $274
European Growth Sub-Account $70 $109 $151 $301
<PAGE>
Pacific Growth Sub-Account $72 $117 $164 $326
Capital Appreciation Sub-Account $67 $100 $136 $271
Equity Sub-Account $64 $91 $121 $242
Strategist Sub-Account $64 $91 $120 $240
Add the following table under the section: "If you do not surrender your
Contract..."
1 Year 3 Year 5 Year 10 Year
------ ------ ------ -------
Money Market Sub-Account $21 $65 $112 $240
Quality Income Plus Sub-Account $21 $65 $112 $241
High Yield Sub-Account $21 $65 $111 $239
Utilities Sub-Account $23 $70 $120 $256
Income Builder Sub-Account $24 $74 $127 $271
Dividend Growth Sub-Account $22 $67 $114 $245
Capital Growth Sub-Account $23 $72 $123 $262
Global Dividend Growth Sub-Account $25 $75 $129 $274
European Growth Sub-Account $27 $83 $142 $301
Pacific Growth Sub-Account $30 $91 $155 $326
Capital Appreciation Sub-Account $24 $74 $127 $271
Equity Sub-Account $21 $66 $113 $242
Strategist Sub-Account $21 $65 $112 $240
Page 9: Add the following column to the Condensed Financial Information table:
1997
----
Money Market Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Quality Income Plus Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
High Yield Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Utilities Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Income Builder Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Dividend Growth Sub-Account
Accumulation Unit Value, Beginning of Period
<PAGE>
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Capital Growth Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Global Dividend Growth Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
European Growth Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Pacific Growth Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Capital Appreciation Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Equity Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Strategist Sub-Account
Accumulation Unit Value, Beginning of Period
Accumulation Unit Value, End of Period
Number of Units Outstanding, End of Period
Page 15: Under "Mortality and Expense Risk Charge" insert the following before
the last sentence of the first paragraph:
For Contracts with the optional Performance Death Benefit provision,
the Mortality and Expense Risk Charge will be deducted daily, at a rate equal on
an annual basis, to 1.38% of the daily net assets in the Variable Account. The
assessment of the additional .13% for the optional Performance Death Benefit is
attributed to the assumption of additional mortality risks (see pages 16-17, for
a full description of the Death Benefit options).
<PAGE>
Page 16: Insert the following paragraphs after the first paragraph under
"Benefits Under The Contract":
If the Performance Death Benefit option is selected, it applies only
at the death of Owner. It does not apply to the death of the Annuitant if
different from the Owner unless the Owner is a nonnatural Owner. For Contracts
with the optional Performance Death Benefit provision, the Death Benefit will be
the greatest of (a) through (c) above, or (d) the Performance Death Benefit.
The optional Performance Death Benefit is equal to the greatest of the
anniversary values as of the date the Company calculates the Death Benefit. The
anniversary value is equal to the Cash Value on a Contract Anniversary:
1. Increased by any purchase payments made since the Contract
Anniversary; and
2. Reduced by an adjustment for any partial withdrawals made
since the Contract Anniversary.
This adjustment is equal to the Cash Value on the Contract
Anniversary multiplied by the ratio of the withdrawal amount to
the Cash Value just before the withdrawal.
On each Contract Anniversary, the Performance Death Benefit will be
recalculated until the oldest Owner or the Annuitant, if the Owner is a
nonnatural Owner, attains age 85. After age 85, we will only recalculate the
Performance Death Benefit to reflect additional Purchase Payments and
withdrawals. The Performance Death Benefit on the date of issue is equal to the
initial purchase payment. In the absence of any withdrawals or Purchase
Payments, the Performance Death Benefit will be the greatest of all Contract
Anniversary Cash Values on or before the date the Company calculates the Death
Benefit.
The Performance Death Benefit will never be greater than the maximum
death benefit allowed by any non-forfeiture laws which govern this Contract.
Page 18: In the first paragraph under "General Description", at the end of the
sentence within the parenthesis, please insert:
"or 1.48% if the optional Performance Death Benefit provision has been
selected"
<PAGE>
SUPPLEMENT DATED APRIL 3, 1998 TO
THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1997
OF ALLSTATE LIFE OF NEW YORK ANNUITY ACCOUNT II
OF ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
The Statement of Additional Information is amended as set forth below. Please
retain this Supplement for future reference.
Under "Standardized Total Return" replace the existing table with the following
tables for the periods ended December 31, 1997:
(Without the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market -0.49% 2.90% 2.89%
Quality Income Plus 5.31% 6.53% 7.32%
High Yield 6.05% 10.12% 12.04%
Utilities 21.14% 11.67% 12.74%
Income Builder NA NA 16.72%
Dividend Growth 19.61% 16.89% 15.54%
Capital Growth 18.56% 9.47% 10.21%
Global Dividend Growth 6.22% NA 11.13%
European Growth 10.21% 21.96% 18.08%
Pacific Growth -42.85% NA -13.23%
Capital Appreciation NA NA 7.03%
Equity 31.28% 18.42% 16.78%
Strategist 7.88% 8.77% 9.10%
(With the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market -0.62% 2.76% 2.75%
Quality Income Plus 5.17% 6.39% 7.18%
High Yield 5.91% 9.97% 11.89%
Utilities 20.97% 11.52% 12.59%
Income Builder NA NA 16.56%
Dividend Growth 19.45% 16.74% 15.39%
Capital Growth 18.40% 9.32% 10.07%
Global Dividend Growth 6.08% NA 10.98%
European Growth 10.07% 21.80% 17.93%
Pacific Growth -42.93% NA -13.35%
Capital Appreciation NA NA 6.88%
Equity 31.10% 18.26% 16.63%
Strategist 7.74% 8.63% 8.96%
<PAGE>
Above the first paragraph on page 5, add the heading "Adjusted Historical
Return". Replace the existing table that follows that paragraph with the
following tables for the periods ended December 31, 1997:
Adjusted Historical Return
(Without the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market -0.49% 2.90% 4.51%
Quality Income Plus 5.31% 6.53% 8.33%
High Yield 6.05% 10.12% 7.72%
Utilities 21.14% 11.67% 11.84%
Income Builder NA NA 16.72%
Dividend Growth 19.61% 16.89% 13.15%
Capital Growth 18.56% 9.47% 10.76%
Global Dividend Growth 6.22% NA 11.13%
European Growth 10.21% 21.96% 16.13%
Pacific Growth -42.85% NA -13.23%
Capital Appreciation NA NA 7.03%
Equity 31.28% 18.42% 16.32%
Strategist 7.88% 8.77% 9.98%
(With the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market -0.62% 2.76% 4.48%
Quality Income Plus 5.17% 6.39% 8.30%
High Yield 5.91% 9.97% 7.69%
Utilities 20.97% 11.52% 11.80%
Income Builder NA NA 16.56%
Dividend Growth 19.45% 16.74% 13.51%
Capital Growth 18.40% 9.32% 10.62%
Global Dividend Growth 6.08% NA 10.98%
European Growth 10.07% 21.80% 15.98%
Pacific Growth -42.93% NA -13.35%
Capital Appreciation NA NA 6.88%
Equity 31.10% 18.26% 16.29%
Strategist 7.74% 8.63% 9.95%
<PAGE>
Under "Other Total Return" replace the existing table with the following tables
for the periods ended December 31, 1997:
(Without the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market 3.82% 3.11% 2.95%
Quality Income Plus 9.62% 6.53% 7.32%
High Yield 10.37% 10.29% 12.08%
Utilities 25.45% 11.83% 12.78%
Income Builder NA NA 22.24%
Dividend Growth 23.92% 17.03% 15.59%
Capital Growth 22.87% 9.65% 10.27%
Global Dividend Growth 10.54% NA 11.66%
European Growth 14.53% 22.07% 18.12%
Pacific Growth -38.54% NA -12.18%
Capital Appreciation NA NA 12.53%
Equity 35.59% 18.55% 16.82%
Strategist 12.19% 8.95% 9.15%
(With the Optional Performance Death Benefit)
10-Years or Since
Sub-Account 1 Year 5-Years Inception (if less)
- ----------- ------ ------- -------------------
Money Market 3.69% 2.97% 2.82%
Quality Income Plus 9.48% 6.58% 7.23%
High Yield 10.22% 10.13% 11.93%
Utilities 25.29% 11.69% 12.63%
Income Builder NA NA 22.08%
Dividend Growth 23.76% 16.88% 15.44%
Capital Growth 22.71% 9.50% 10.12%
Global Dividend Growth 10.39% NA 11.52%
European Growth 14.38% 21.92% 17.96%
Pacific Growth -38.62% NA -12.29%
Capital Appreciation NA NA 12.39%
Equity 35.42% 18.40% 16.67%
Strategist 12.05% 8.80% 9.01%
After page 12, the following replaces the financial statements appearing on
pages F-1 through F-37, and the reports of the independent auditors thereon:
[To be filed by amendment.]
<PAGE>
PART C
OTHER INFORMATION
24A. FINANCIAL STATEMENTS
PART B: Allstate Life Insurance Company of New York Financial Statements
and Allstate Life of New York Variable Annuity Account II Financial
Statements to be filed by amendment.
24B. EXHIBITS
The following exhibits:
The following exhibits correspond to those required by paragraph (b) of
item 24 as to exhibits in Form N-4:
(1) Resolution of the Board of Directors of Allstate Life Insurance
Company of New York authorizing establishment of the Variable Annuity
Account II**
(2) Not Applicable
(3) General Agent's Agreement*****
(4) Form of Contract**
(5) Form of application for a Contract**
(6) (a) Certificate of Incorporation of Allstate Life Insurance Company of
New York***
(b) By-laws of Allstate Life Insurance Company of New York***
(7) Not applicable
(8) Participation Agreement****
(9) Opinion of Robert S. Seiler, Senior Vice President, Secretary and
General Counsel of Allstate Life Insurance Company of New York**
(10) (a) Consent of Accountants (to be filed by amendment)
(b) Consent of Attorneys**
(11) Not applicable
(12) Not applicable
(13) Performance Data*
(99) Powers of Attorney*, **, ****
- --------------------
* Filed herewith.
** Previously filed in Form N-4 Registration Statement No. 33-35445 dated
December 31, 1996.
*** Previously filed in Form N-4 Registration Statement No. 33-65381 dated
September 20, 1996.
**** Previously filed in Form N-4 Registration Statement No. 33-35445 dated
April 30, 1996.
***** Previously filed in Form N-4 Registration Statement No. 33-35445 dated
June 15, 1990
<PAGE>
25. DIRECTORS AND OFFICERS OF THE DEPOSITOR
Name and Principal Position and Office With Depositor
Business Address of the Trust
- ------------------ ----------------------------------
Louis G. Lower, II* Chairman of the Board of Directors and
President
Michael J. Velotta* Director, Vice President, Secretary and
General Counsel
Sharmaine M. Miller** Director and Chief Administrative Officer
Marcia D. Alazraki* Director
Joseph F. Carlino* Director
Marla G. Friedman* Director and Vice President
Cleveland Johnson, Jr.* Director
Gerard F. McDermott** Director
Joseph P. McFadden* Director
John R. Raben, Jr.* Director
Sally A. Slacke* Director
Kevin R. Slawin* Director and Vice President
Timothy H. Plohg* Director and Vice President
Karen C. Gardner* Vice President
Peter H. Heckman* Vice President
Thomas A. McAvity, Jr.* Vice President
Keith A. Hauschildt* Assistant Vice President and Controller
James P. Zils* Treasurer
Casey J. Sylla* Chief Investment Officer
Richard L. Baker* Assistant Vice President
Mark A. Bishop* Assistant Treasurer
Barbara S. Brown* Assistant Treasurer
Dorothy E. Even* Assistant Vice President
Judith P. Greffin* Assistant Vice President
Peter S. Horos* Assistant Treasurer
John R. Hunter* Assistant Vice President
Thomas C. Jensen* Assistant Treasurer
Emma M. Kalaidjian* Assistant Secretary
Paul N. Kierig* Assistant Secretary and Assistant General
Counsel
Kenneth S. Klimala* Assistant Vice President
Ronald A. Mendel* Assistant Treasurer
Mary J. McGinn* Assistant Secretary
Deborah K. Miller* Assistant Treasurer
Barry S. Paul* Assistant Vice President
C. Nelson Strom* Assistant Vice President and Corporate
Actuary
Brenda D. Sneed* Assistant Secretary
Patricia W. Wilson* Assistant Vice President
<PAGE>
Ralph A. Bergholtz* Assistant Treasurer
D. Steven Boger* Assistant Vice President
Adrian B. Corbiere* Assistant Treasurer
Louise J. Walton* Assistant Treasurer
Jerry D. Zinkula* Assistant Treasurer
* Principal business address is 3100 Sanders Road, Northbrook, Illinois
60062.
** Principal business address is P.O. Box 9095, Farmingville, New York 11738.
26. Persons Controlled by or Under Common Control with Depositor or Registrant
See 10-K Commission File # 1-11840, The Allstate Corporation.
27. NUMBER OF CONTRACT OWNERS
As of December 31, 1997 there were in force 464 qualified and 4,972
non-qualified contracts. The Registrant began operations on September 24, 1991.
28. INDEMNIFICATION
The General Agent's Agreement (Exhibit 3) has a provision in which Allstate
Life Insurance Company of New York agrees to indemnify Dean Witter Reynolds as
Underwriter for certain damages and expenses that may be caused by actions,
statements or omissions by Allstate Life Insurance Company of New York. The
Agreement to Purchase Shares contains a similar provision in paragraph 16 of
Exhibit 12.
Insofar as indemnification for liability arising out of the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than payment by the registrant of expenses incurred by a
director, officer or controlling person of the registrant in the successful
defense of any action, suit, or proceeding) is asserted such director, officer
or controlling person in connection with the securities being registered, the
<PAGE>
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.
29a. RELATIONSHIP OF PRINCIPAL UNDERWRITER TO OTHER INVESTMENT COMPANIES
Dean Witter Distributors Inc. is the principal underwriter for the following
investment companies:
Dean Witter Liquid Asset Fund Inc.
Dean Witter Tax-Free Daily Income Trust
Dean Witter California Tax-Free Daily Income Trust
Dean Witter Retirement Series
Dean Witter Dividend Growth Securities Inc.
Dean Witter Natural Resource Development Securities Inc.
Dean Witter World Wide Investment Trust
Dean Witter Capital Growth Securities
Dean Witter Convertible Securities Trust
Active Assets Tax-Free Trust
Active Assets Money Trust
Active Assets California Tax-Free Trust
Active Assets Government Securities Trust
Dean Witter Short-Term Bond Fund
Dean Witter Mid-Cap Growth Fund
Dean Witter U.S. Government Securities Trust
Dean Witter High Yield Securities Inc.
Dean Witter New York Tax-Free Income Fund
Dean Witter Tax-Exempt Securities Trust
Dean Witter California Tax-Free Income Fund
Dean Witter Limited Term Municipal Trust
Dean Witter World Wide Income Trust
Dean Witter Utilities Fund
Dean Witter Strategist Fund
Dean Witter New York Municipal Money Market Trust
Dean Witter Intermediate Income Securities
Prime Income Trust
Dean Witter European Growth Fund Inc.
Dean Witter Developing Growth Securities Trust
Dean Witter Precious Metals and Minerals Trust
Dean Witter Pacific Growth Fund Inc.
Dean Witter Multi-State Municipal Series Trust
<PAGE>
Dean Witter Federal Securities Trust
Dean Witter Short-Term U.S. Treasury Trust
Dean Witter Diversified Income Trust
Dean Witter Health Sciences Trust
Dean Witter Global Dividend Growth Securities
Dean Witter American Value Fund
Dean Witter U.S. Government Money Market Trust
Dean Witter Global Short-Term Income Fund Inc.
Dean Witter Premier Income Trust
Dean Witter Value-Added Market Series
Dean Witter Global Utilities Fund
Dean Witter High Income Securities
Dean Witter National Municipal Trust
Dean Witter International SmallCap Fund
Dean Witter Global Asset Allocation
Dean Witter Balanced Income Fund
Dean Witter Balanced Growth Fund
Dean Witter Hawaii Municipal Trust
Dean Witter Capital Appreciation Fund
Dean Witter Intermediate Term U. S. Treasury Trust
Dean Witter Information Fund
Dean Witter Japan Fund
Dean Witter Income Builder Fund
Dean Witter Special Value Fund
TCW/DW Core Equity Trust
TCW/DW North American Government Income Trust
TCW/DW Latin American Growth Fund
TCW/DW Income and Growth Fund
TCW/DW Small Cap Growth Fund
TCW/DW Balanced Fund
TCW/DW Mid-Cap Equity Fund
TCW/DW Total Return Trust
TCW/DW Global Telecom Trust
TCW/DW Strategic Income Trust
29b. PRINCIPAL UNDERWRITER
Name and Principal Business Positions and Offices
Address of Each Such Person with Underwriter
--------------------------- ---------------------
DEAN WITTER REYNOLDS INC. UNDERWRITER
("DEAN WITTER")
Philip J. Purcell Chairman, Chief Executive Officer
<PAGE>
and Director
Richard M. DeMartini President, Chief Operating Officer
and Director, Dean Witter Capital
James F. Higgins President, Chief Operating Officer
and Director, Dean Witter Financial
Stephen R. Miller Senior Executive Vice President and
Director
Raymond J. Drop Executive Vice President
Robert J. Dwyer Executive Vice President, National
Sales Director and Director
Christine A. Edwards Executive Vice President,
Secretary, General Counsel and
Director
Charles A. Fiumefreddo Executive Vice President and
Director
Alfred J. Golden Executive Vice President
E. Davisson Hardman, Jr. Executive Vice President
Mitchell M. Merin Executive Vice President, Chief
Administrative Officer and Director
Jeremiah A. Mullins Executive Vice President
Richard F. Powers, III Executive Vice President and
Director
John H. Schaefer Executive Vice President
Thomas C. Schneider Executive Vice President, Chief
Financial Officer and Director
Robert B. Sculthorpe Executive Vice President
William B. Smith Executive Vice President and
Director
Samuel H. Wolcott, III Executive Vice President
Anthony Basile Senior Vice President
<PAGE>
Ronald T. Carman Senior Vice President, Associate
General Counsel and Assistant
Secretary
Michael T. Cunningham Senior Vice President
Mary E. Curran Senior Vice President
David Diaz Senior Vice President
Raymond F. Douglas Senior Vice President
Paul J. Dubow Senior Vice President
Michael T. Gregg Senior Vice President and Deputy
General Counsel
George R. Ross Senior Vice President
Robert P. Seass Senior Vice President
Joseph G. Siniscalchi Senior Vice President and
Controller, Dean Witter Financial
Michael H. Stone Senior Vice President
Lawrence Volpe Senior Vice President and
Controller, Dean Witter Reynolds
Inc. and Dean Witter Capital
Lorena J. Kern Senior Vice President
Kathryn M. McNamara Senior Vice President and Director
of Governmental Affairs
Michael D. Browne Assistant Secretary
Linda M. Butler Assistant Secretary
Marilyn Cranney Assistant Secretary
Sheldon Curtis Assistant Secretary
Barry Fink Assistant Secretary
<PAGE>
Sabrina Hurley Assistant Secretary
Barbara B. Kiley Assistant Secretary
The principal address of Dean Witter is Two World Trade Center,
New York, New York 10048.
29c. COMPENSATION OF DEAN WITTER
The following commissions and other compensation were received by each
principal underwriter, directly or indirectly, from the Registrant during the
Registrant's last fiscal year:
(1) (2) (3) (4) (5)
Net Compensation
Underwriting or
Discounts Redemption
Name of and or Brokerage
Principal Commissions Annuitization Commissions Compensation
- --------- ----------- ------------- ----------- ------------
Dean Witter $1,718,335
Reynolds Inc.
30. LOCATION OF ACCOUNTS AND RECORDS
Allstate Life Insurance Company of New York
P.O. Box 9095
Farmingville, New York 11738
31. MANAGEMENT SERVICES
None
32. UNDERTAKINGS
The Registrant promises to file a post-effective amendment to this
<PAGE>
Registration Statement as frequently as is necessary to ensure that the audited
financial statements in the Registration Statement are never more than 16 months
old for so long as payments under the variable annuity contracts may be
accepted. Registrant furthermore agrees to include either as part of any
application to purchase a contract offered by the prospectus, a space that an
applicant can check to request a statement of Additional Information or a post
card or similar written communication affixed to or included in the Prospectus
that the applicant can remove to send for a Statement of Additional Information.
Finally the Registrant agrees to deliver any Statement of Additional Information
and any Financial Statements required to be made available under this Form N-4
promptly upon written or oral request.
33. REPRESENTATIONS PURSUANT TO SECTION 403(b) OF THE INTERNAL REVENUE CODE
The Company represents that it is relying upon a November 28, 1988
Securities and Exchange Commission no-action letter issued to the American
Council of Life Insurance ("ACLI") and that the provisions of paragraphs 1-4 of
the no-action letter have been complied with.
34. REPRESENTATION REGARDING CONTRACT EXPENSES
Allstate Life Insurance Company of New York ("ALIC NY") represents that
the fees and charges deducted under the Individual Variable Annuity Contracts
hereby registered by this Registration Statement, in the aggregate, are
reasonable in relation to the services rendered, the expenses expected to be
incurred, and the risk assumed by ALIC NY.
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant, Allstate Life of New York Variable Annuity Account II, has
caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, and its seal to be hereunto affixed and
attested, in the Township of Northfield, and State of Illinois on this 2nd day
of February 1998.
ALLSTATE LIFE OF NEW YORK VARIABLE ANNUITY ACCOUNT II
(REGISTRANT)
ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
(DEPOSITOR)
(SEAL)
Attest /s/ BRENDA D. SNEED By /s/ MICHAEL J. VELOTTA
-------------------- --------------------------
Brenda D. Sneed Michael J. Velotta
Assistant Secretary Vice President, Secretary and
General Counsel
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant, Allstate Life of New York Variable Annuity Account II, has
caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, and its seal to be hereunto affixed and
attested, in the Township of Northfield, and State of Illinois on this 2nd day
of February, 1998.
*/LOUIS G. LOWER, II Chairman of the Board of Directors and President
- -------------------- (Principal Executive Officer)
Louis G. Lower, II
/s/ MICHAEL J. VELOTTA
- ---------------------- Director, Vice President, Secretary and
Michael J. Velotta General Counsel
*/SHARMAINE M. MILLER Director and Chief Administrative Officer
- ---------------------
Sharmaine M. Miller
<PAGE>
*/MARLA G. FRIEDMAN Director and Vice President
- -------------------
Marla G. Friedman
**/VINCENT A. FUSCO Director and Chief Operations Officer
- -------------------
Vincent A. Fusco
*/PETER H. HECKMAN Vice President
- ------------------
Peter H. Heckman
*/KAREN C. GARDNER Vice President
- ------------------
Karen C. Gardner
*/THOMAS A. MCAVITY, JR. Vice President
- ------------------------
Thomas A. McAvity, Jr.
*/TIMOTHY H. PLOHG Director and Vice President
- ------------------
Timothy H. Plohg
*/KEVIN R. SLAWIN Director and Vice President
- ----------------- (Principal Financial Officer)
Kevin R. Slawin
*/MARCIA D. ALAZRAKI Director
- --------------------
Marcia D. Alazraki
*/JOSEPH F. CARLINO Director
- -------------------
Joseph F. Carlino
*/CLEVELAND JOHNSON, JR. Director
- ------------------------
Cleveland Johnson, Jr.
*/GERARD F. MCDERMOTT Director
- ---------------------
Gerard F. McDermott
<PAGE>
*/JOSEPH MCFADDEN Director
- -----------------
Joseph McFadden
*/JOHN R. RABEN, JR. Director
- --------------------
John R. Raben, Jr.
*/SALLY A. SLACKE Director
- -----------------
Sally A. Slacke
**/PATRICIA W. WILSON Director
- ---------------------
Patricia W. Wilson
*/JAMES P. ZILS Treasurer
- ---------------
James P. Zils
*/CASEY J. SYLLA Chief Investment Officer
- ----------------
Casey J. Sylla
*/KEITH A. HAUSCHILDT Assistant Vice President and Controller
- --------------------- (Principal Accounting Officer)
Keith A. Hauschildt
*/ By Michael J. Velotta pursuant to Power of Attorney previously filed.
**/By Michael J. Velotta pursuant to Power of Attorney filed herewith.
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
30-Dec-96 NO. YEARS 1.000
TO
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 12.065489 82.88102
FEE 31-Dec-97 0.634 12.510584 0.05068
RESULTING VALUE 31-Dec-97 12.510584 82.83034 1036.2559
1.000
FORMULA: 1000*(1+T)= 1036.2559 - (0.85 * 1000 * 0.05)
= 993.7559
T = -0.62%
R = -0.62%
ALNY VAII HIGH YIELD
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 24.111603 41.47381
FEE 31-Dec-97 0.634 26.576588 0.02386
RESULTING VALUE 31-Dec-97 26.576588 41.44995 1101.5983
1.000
FORMULA: 1000*(1+T)= 1101.5983 - (0.85 * 1000 * 0.05)
= 1059.0983
T = 5.91%
R = 5.91%
ALNY VAII EQUITY
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 28.625797 34.93353
FEE 31-Dec-97 0.634 38.763896 0.01636
RESULTING VALUE 31-Dec-97 38.763896 34.91717 1353.5255
1.000
<PAGE>
FORMULA: 1000*(1+T)= 1353.5255 - (0.85 * 1000 * 0.05)
= 1311.0255
T = 31.10%
R = 31.10%
ALNY VAII QUALITY INCOME
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 16.378885 61.05422
FEE 31-Dec-97 0.634 17.931874 0.03536
RESULTING VALUE 31-Dec-97 17.931874 61.01886 1094.1825
1.000
FORMULA: 1000*(1+T)= 1094.1825 - (0.85 * 1000 * 0.05)
= 1051.6825
T = 5.17%
R = 5.17%
ALNY VAII STRATEGIST
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 19.169540 52.16609
FEE 31-Dec-97 0.634 21.479229 0.02952
RESULTING VALUE 31-Dec-97 21.479229 52.13658 1119.8535
1.000
FORMULA: 1000*(1+T)= 1119.8535 - (0.85 * 1000 * 0.05)
= 1077.3535
T = 7.74%
R = 7.74%
ALNY VAII DIVIDEND GROWTH
12/30/96 NO. YEARS 1.000
TO
<PAGE>
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 26.258516 38.08288
FEE 31-Dec-97 0.634 32.498223 0.01951
RESULTING VALUE 31-Dec-97 32.498223 38.06337 1236.9920
1.000
FORMULA: 1000*(1+T)= 1236.9920 - (0.85 * 1000 * 0.05)
= 1194.4920
T = 19.45%
R = 19.45%
ALNY VAII UTILITIES
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 19.268190 51.89901
FEE 31-Dec-97 0.634 24.140294 0.02626
RESULTING VALUE 31-Dec-97 24.140294 51.87275 1252.2234
1.000
FORMULA: 1000*(1+T)= 1252.2234 - (0.85 * 1000 * 0.05)
= 1209.7234
T = 20.97%
R = 20.97%
ALNY VAII EUROPEAN GROWTH
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 24.297886 41.15584
FEE 31-Dec-97 0.634 27.791611 0.02281
RESULTING VALUE 31-Dec-97 27.791611 41.13303 1143.1532
1.000
FORMULA: 1000*(1+T)= 1143.1532 - (0.85 * 1000 * 0.05)
= 1100.6532
T = 10.07%
R = 10.07%
<PAGE>
ALNY VAII CAPITAL GROWTH
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 16.396546 60.98845
FEE 31-Dec-97 0.634 20.120513 0.03151
RESULTING VALUE 31-Dec-97 20.120513 60.95694 1226.4850
1.000
FORMULA: 1000*(1+T)= 1226.4850 - (0.85 * 1000 * 0.05)
= 1183.9850
T = 18.40%
R = 18.40%
ALNY VAII PACIFIC GROWTH
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 9.843217 101.59280
FEE 31-Dec-97 0.634 6.042153 0.10493
RESULTING VALUE 31-Dec-97 6.042153 101.48787 613.2053
1.000
FORMULA: 1000*(1+T)= 613.2053 - (0.85 * 1000 * 0.05)
= 570.7053
T = -42.93%
R = -42.93%
ALNY VAII GLOBAL DIVIDEND GROWTH
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 13.823682 72.33963
FEE 31-Dec-97 0.634 15.260474 0.04155
<PAGE>
RESULTING VALUE 31-Dec-97 5.260474 72.29808 1103.3030
1.000
FORMULA: 1000*(1+T)= 1103.3030 - (0.85 * 1000 * 0.05)
= 1060.8030
T = 6.08%
R = 6.08%
ALNY VAII CAPITAL APPRECIATION
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 #VALUE! #VALUE!
FEE 31-Dec-97 0.634 11.163269 0.05679
RESULTING VALUE 31-Dec-97 11.163269 #VALUE! #VALUE!
1.000
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05)
= #VALUE!
T = N/A
R = N/A
ALNY VAII INCOME BUILDER
12/30/96 NO. YEARS 1.000
TO
12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 #VALUE! #VALUE!
FEE 31-Dec-97 0.634 12.068959 0.05253
RESULTING VALUE 31-Dec-97 12.068959 #VALUE! #VALUE!
1.000
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05)
= #VALUE!
T = N/A
R = N/A
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 10.805244 92.54766
FEE 31-Dec-93 0.634 10.939204 0.05796
FEE 31-Dec-94 0.634 11.196088 0.05663
FEE 31-Dec-95 0.634 11.650626 0.05442
FEE 31-Dec-96 0.634 12.065489 0.05255
FEE 31-Dec-97 0.634 12.510584 0.05068
RESULTING VALUE 31-Dec-97 12.510584 92.27543 1154.4195
5.000
FORMULA 1000*(1+T)= 1154.4195 - (0.85 * 1000 * 0.01)
= 1145.91953
T = 2.76%
R = 14.59%
ALNY VAII HIGH YIELD
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 16.402580 60.96602
FEE 31-Dec-93 0.634 20.069886 0.03159
FEE 31-Dec-94 0.634 19.337970 0.03279
FEE 31-Dec-95 0.634 21.854658 0.02901
FEE 31-Dec-96 0.634 24.111603 0.02629
FEE 31-Dec-97 0.634 26.576588 0.02386
RESULTING VALUE 31-Dec-97 26.576588 60.82248 1616.4541
5.000
FORMULA: 1000*(1+T)= 1616.4541 - (0.85 * 1000 * 0.01)
= 1607.9541
T = 9.97%
R = 60.80%
ALNY VAII EQUITY
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 16.660353 60.02274
FEE 31-Dec-93 0.634 19.651076 0.03226
FEE 31-Dec-94 0.634 18.210988 0.03481
FEE 31-Dec-95 0.634 25.858344 0.02452
FEE 31-Dec-96 0.634 28.625797 0.02215
FEE 31-Dec-97 0.634 38.763896 0.01636
RESULTING VALUE 31-Dec-97 38.763896 59.89264 2321.6720
<PAGE>
5.000
FORMULA: 1000*(1+T)= 2321.6720 - (0.85 * 1000 * 0.01)
= 2313.17204
T = 18.26%
R = 131.32%
ALNY VAII QUALITY INCOME
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 13.040873 76.68198
FEE 31-Dec-93 0.634 14.521285 0.04366
FEE 31-Dec-94 0.634 13.326890 0.04757
FEE 31-Dec-95 0.634 16.369534 0.03873
FEE 31-Dec-96 0.634 16.378885 0.03871
FEE 31-Dec-97 0.634 17.931874 0.03536
RESULTING VALUE 31-Dec-97 17.931874 76.47795 1371.3931
5.000
FORMULA: 1000*(1+T)= 1371.3931 - (0.85 * 1000 * 0.01)
= 1362.89305
T = 6.39%
R = 36.29%
ALNY VAII STRATEGIST
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 14.086481 70.99005
FEE 31-Dec-93 0.634 15.322262 0.04138
FEE 31-Dec-94 0.634 15.705992 0.04037
FEE 31-Dec-95 0.634 16.915435 0.03748
FEE 31-Dec-96 0.634 19.169540 0.03307
FEE 31-Dec-97 0.634 21.479229 0.02952
RESULTING VALUE 31-Dec-97 21.479229 70.80824 1520.9063
5.000
FORMULA: 1000*(1+T)= 1520.9063 - (0.85 * 1000 * 0.01)
= 1512.4063
T = 8.63%
R = 51.24%
ALNY VAII DIVIDEND GROWTH
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 14.898860 67.11923
FEE 31-Dec-93 0.634 16.785885 0.03777
<PAGE>
FEE 31-Dec-94 0.634 16.087197 0.03941
FEE 31-Dec-95 0.634 21.500050 0.02949
FEE 31-Dec-96 0.634 26.258516 0.02414
FEE 31-Dec-97 0.634 32.498223 0.01951
RESULTING VALUE 31-Dec-97 32.498223 66.96891 2176.3705
5.000
FORMULA: 1000*(1+T)= 2176.3705 - (0.85 * 1000 * 0.01)
= 2167.87049
T = 16.74%
R = 116.79%
ALNY VAII UTILITIES
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 13.891409 71.98694
FEE 31-Dec-93 0.634 15.835375 0.04004
FEE 31-Dec-94 0.634 14.206834 0.04463
FEE 31-Dec-95 0.634 17.994919 0.03523
FEE 31-Dec-96 0.634 19.268190 0.03290
FEE 31-Dec-97 0.634 24.140294 0.02626
RESULTING VALUE 31-Dec-97 24.140294 71.80788 1733.4632
5.000
FORMULA: 1000*(1+T)= 1733.4632 - (0.85 * 1000 * 0.01)
= 1724.96323
T = 11.52%
R = 72.50%
ALNY VAII EUROPEAN GROWTH
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 10.318344 96.91478
FEE 31-Dec-93 0.634 14.323885 0.04426
FEE 31-Dec-94 0.634 15.314253 0.04140
FEE 31-Dec-95 0.634 18.971796 0.03342
FEE 31-Dec-96 0.634 24.297886 0.02609
FEE 31-Dec-97 0.634 27.791611 0.02281
RESULTING VALUE 31-Dec-97 27.791611 96.74679 2688.7492
5.000
FORMULA: 1000*(1+T)= 2688.7492 - (0.85 * 1000 * 0.01)
= 2680.2492
T = 21.80%
R = 168.02%
ALNY VAII CAPITAL GROWTH
30-Dec-92
<PAGE>
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 12.778358 78.25732
FEE 31-Dec-93 0.634 11.710240 0.05414
FEE 31-Dec-94 0.634 11.335731 0.05593
FEE 31-Dec-95 0.634 14.919563 0.04249
FEE 31-Dec-96 0.634 16.396546 0.03867
FEE 31-Dec-97 0.634 20.120513 0.03151
RESULTING VALUE 31-Dec-97 20.120513 78.03457 1570.0957
5.000
FORMULA: 1000*(1+T)= 1570.0957 - (0.85 * 1000 * 0.01)
= 1561.59567
T = 9.32%
R = 56.16%
ALNY VAII PACIFIC GROWTH
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #VALUE! #VALUE!
FEE 31-Dec-93 0.634 #VALUE! #VALUE!
FEE 31-Dec-94 0.634 9.140518 0.06936
FEE 31-Dec-95 0.634 9.616944 0.06593
FEE 31-Dec-96 0.634 9.843217 0.06441
FEE 31-Dec-97 0.634 6.042153 0.10493
RESULTING VALUE 31-Dec-97 6.042153 #VALUE! #VALUE!
5.000
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01)
= #VALUE!
T = N/A
R = N/A
ALNY VAII GLOBAL DIVIDEND GROWTH
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #VALUE! #VALUE!
FEE 31-Dec-93 0.634 #VALUE! #VALUE!
FEE 31-Dec-94 0.634 9.905890 0.06400
FEE 31-Dec-95 0.634 11.932293 0.05313
FEE 31-Dec-96 0.634 13.823682 0.04586
FEE 31-Dec-97 0.634 15.260474 0.04155
RESULTING VALUE 31-Dec-97 15.260474 #VALUE! #VALUE!
5.000
<PAGE>
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01)
= #VALUE!
T = N/A
R = N/A
ALNY VAII CAPITAL APPRECIATION
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #VALUE! #VALUE!
FEE 31-Dec-93 0.634 #VALUE! #VALUE!
FEE 31-Dec-94 0.634 #VALUE! #VALUE!
FEE 31-Dec-95 0.634 #VALUE! #VALUE!
FEE 31-Dec-96 0.634 #VALUE! #VALUE!
FEE 31-Dec-97 0.634 11.163269 0.05679
RESULTING VALUE 31-Dec-97 11.163269 #VALUE! #VALUE!
5.000
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01)
= #VALUE!
T = N/A
R = N/A
ALNY VAII INCOME BUILDER
30-Dec-92
TO NO. YEARS 5.000
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #VALUE! #VALUE!
FEE 31-Dec-93 0.634 #VALUE! #VALUE!
FEE 31-Dec-94 0.634 #VALUE! #VALUE!
FEE 31-Dec-95 0.634 #VALUE! #VALUE!
FEE 31-Dec-96 0.634 #VALUE! #VALUE!
FEE 31-Dec-97 0.634 12.068959 0.05253
RESULTING VALUE 31-Dec-97 12.068959 #VALUE! #VALUE!
5.000
FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01)
= #VALUE!
T = N/A
R = N/A
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 10.508392 95.16204
1 FEE 24-Sep-92 0.634 10.763077 0.05891 0.06
2 FEE 24-Sep-93 0.634 10.902736 0.05815 0.05
3 FEE 24-Sep-94 0.634 11.092062 0.05716 0.04
4 24-Sep-95 0.634 11.532893 0.05497 0.03
5 24-Sep-96 0.634 11.952264 0.05304 0.02
6 24-Sep-97 0.634 12.386451 0.05118 0.01
7 31-Dec-97 0.634 12.510584 0.05068 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 12.510584 94.77794 1185.7274
6.270
FORMULA: 1000*(1+T)= 1185.7274
= 1185.72744
T = 2.75%
R = 18.57%
ALNY VAII HIGH YIELD
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 13.102802 76.31955
1 FEE 24-Sep-92 0.634 16.715447 0.03793 0.06
2 FEE 24-Sep-93 0.634 19.109466 0.03318 0.05
3 FEE 24-Sep-94 0.634 19.365981 0.03274 0.04
4 24-Sep-95 0.634 21.404153 0.02962 0.03
5 24-Sep-96 0.634 23.308366 0.02720 0.02
6 24-Sep-97 0.634 26.177112 0.02422 0.01
7 31-Dec-97 0.634 26.576588 0.02386 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 26.576588 76.11081 2022.7657
6.270
FORMULA: 1000*(1+T)= 2022.7657
= 2022.76573
T = 11.89%
R = 102.28%
<PAGE>
ALNY VAII EQUITY
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 14.736794 67.85736
1 FEE 24-Sep-92 0.634 15.081387 0.04204 0.06
2 FEE 24-Sep-93 0.634 20.165814 0.03144 0.05
3 FEE 24-Sep-94 0.634 18.452368 0.03436 0.04
4 24-Sep-95 0.634 24.861118 0.02550 0.03
5 24-Sep-96 0.634 27.361030 0.02317 0.02
6 24-Sep-97 0.634 38.353118 0.01653 0.01
7 31-Dec-97 0.634 38.763896 0.01636 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 38.763896 67.66797 2623.0741
6.270
FORMULA: 1000*(1+T)= 2623.0741
= 2623.07409
T = 16.63%
R = 162.31%
ALNY VAII QUALITY INCOME
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 11.570862 86.42398
1 FEE 24-Sep-92 0.634 12.985958 0.04882 0.06
2 FEE 24-Sep-93 0.634 14.700714 0.04313 0.05
3 FEE 24-Sep-94 0.634 13.368998 0.04742 0.04
4 24-Sep-95 0.634 15.410509 0.04114 0.03
5 24-Sep-96 0.634 15.805169 0.04011 0.02
6 24-Sep-97 0.634 17.461376 0.03631 0.01
7 31-Dec-97 0.634 17.931874 0.03536 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 17.931874 86.13169 1544.5027
<PAGE>
6.270
FORMULA: 1000*(1+T)= 1544.5027
= 1544.50267
T = 7.18%
R = 54.45%
ALNY VAII STRATEGIST
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 12.503498 79.97762
1 FEE 24-Sep-92 0.634 13.844163 0.04580 0.06
2 FEE 24-Sep-93 0.634 14.971081 0.04235 0.05
3 FEE 24-Sep-94 0.634 15.599248 0.04064 0.04
4 24-Sep-95 0.634 16.324603 0.03884 0.03
5 24-Sep-96 0.634 18.187314 0.03486 0.02
6 24-Sep-97 0.634 22.011849 0.02880 0.01
7 31-Dec-97 0.634 21.479229 0.02952 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 21.479229 79.71682 1712.2558
6.270
FORMULA: 1000*(1+T)= 1712.2558
= 1712.25575
T = 8.96%
R = 71.23%
ALNY VAII DIVIDEND GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 13.204810 75.72998
1 FEE 24-Sep-92 0.634 14.597709 0.04343 0.06
2 FEE 24-Sep-93 0.634 16.183258 0.03918 0.05
3 FEE 24-Sep-94 0.634 16.317670 0.03885 0.04
4 24-Sep-95 0.634 20.110587 0.03153 0.03
5 24-Sep-96 0.634 24.245256 0.02615 0.02
6 24-Sep-97 0.634 32.245282 0.01966 0.01
7 31-Dec-97 0.634 32.498223 0.01951 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
<PAGE>
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 32.498223 75.51167 2453.9952
6.270
FORMULA: 1000*(1+T)= 2453.9952
= 2453.99519
T = 15.39%
R = 145.40%
ALNY VAII UTILITIES
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 11.443237 87.38786
1 FEE 24-Sep-92 0.634 13.184523 0.04809 0.06
2 FEE 24-Sep-93 0.634 16.433675 0.03858 0.05
3 FEE 24-Sep-94 0.634 14.207252 0.04463 0.04
4 24-Sep-95 0.634 16.761056 0.03783 0.03
5 24-Sep-96 0.634 18.030246 0.03516 0.02
6 24-Sep-97 0.634 21.458798 0.02954 0.01
7 31-Dec-97 0.634 24.140294 0.02626 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 24.140294 87.12777 2103.2900
6.270
FORMULA: 1000*(1+T)= 2103.2900
= 2103.29004
T = 12.59%
R = 110.33%
ALNY VAII EUROPEAN GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 9.857747 101.44306
1 FEE 24-Sep-92 0.634 10.278345 0.06168 0.06
<PAGE>
2 FEE 24-Sep-93 0.634 12.737529 0.04977 0.05
3 FEE 24-Sep-94 0.634 15.368264 0.04125 0.04
4 24-Sep-95 0.634 18.514892 0.03424 0.03
5 24-Sep-96 0.634 21.904962 0.02894 0.02
6 24-Sep-97 0.634 27.935390 0.02270 0.01
7 31-Dec-97 0.634 27.791611 0.02281 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 27.791611 101.18165 2812.0011
6.270
FORMULA: 1000*(1+T)= 2812.0011
= 2812.00114
T = 17.93%
R = 181.20%
ALNY VAII CAPITAL GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 10.988064 91.00784
1 FEE 24-Sep-92 0.634 11.639888 0.05447 0.06
2 FEE 24-Sep-93 0.634 11.131116 0.05696 0.05
3 FEE 24-Sep-94 0.634 11.393759 0.05564 0.04
4 24-Sep-95 0.634 13.669996 0.04638 0.03
5 24-Sep-96 0.634 16.303466 0.03889 0.02
6 24-Sep-97 0.634 21.437690 0.02957 0.01
7 31-Dec-97 0.634 20.120513 0.03151 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 20.120513 90.69442 1824.8183
6.270
FORMULA: 1000*(1+T)= 1824.8183
= 1824.8183
T = 10.07%
R = 82.48%
<PAGE>
ALNY VAII PACIFIC GROWTH
22-Feb-94
TO NO. YEARS 3.855
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 22-Feb-94 1000.00 10.021919 99.78129
1 FEE 22-Feb-95 0.634 8.635090 0.07342 0.06
2 FEE 22-Feb-96 0.634 10.396899 0.06098 0.05
3 FEE 22-Feb-97 0.634 9.940823 0.06378 0.04
4 31-Dec-97 0.634 6.042153 0.10493 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 6.042153 99.47818 601.0624
3.855
FORMULA: 1000*(1+T)= 601.0624
= 575.562392
T = (13.35%)
R = (42.44%)
ALNY VAII GLOBAL DIVIDEND GROWTH
22-Feb-94
TO NO. YEARS 3.855
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 22-Feb-94 1000.00 10.021914 99.78134
1 FEE 22-Feb-95 0.634 9.985700 0.06349 0.06
2 FEE 22-Feb-96 0.634 12.272756 0.05166 0.05
3 FEE 22-Feb-97 0.634 13.868112 0.04572 0.04
4 31-Dec-97 0.634 15.260474 0.04155 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 15.260474 99.57893 1519.6216
3.855
FORMULA: 1000*(1+T)= 1519.6216
= 1494.12164
T = 10.98%
R = 49.41%
<PAGE>
ALNY VAII CAPITAL APPRECIATION
21-Jan-97
TO NO. YEARS 0.942
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 21-Jan-97 1000.00 10.000000 100.00000
1 FEE 31-Dec-97 0.634 11.163269 0.05679 0.06
2 FEE N/A 0 N/A 0.00000 0.05
3 FEE N/A 0 N/A 0.00000 0.04
4 N/A 0 N/A 0.00000 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 11.163269 99.94321 1115.6929
0.942
FORMULA: 1000*(1+T)= 1115.6929
= 1064.6929
T = 6.88%
R = 6.47%
ALNY VAII INCOME BUILDER
21-Jan-97
TO NO. YEARS 0.942
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 21-Jan-97 1000.00 10.000000 100.00000
1 FEE 31-Dec-97 0.634 12.068959 0.05253 0.06
2 FEE N/A 0 N/A 0.00000 0.05
3 FEE N/A 0 N/A 0.00000 0.04
4 N/A 0 N/A 0.00000 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 12.068959 99.94747 1206.2619
0.942
FORMULA: 1000*(1+T)= 1206.2619
= 1155.2619
T = 16.56%
R = 15.53%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-Standardized Calculations
<S> <C>
Dates:
Current: 12/31/97
3 Months Ago: 09/30/97
End of Last Year: 12/31/96
One Yr Ago: 12/31/96
Two Yrs Ago: 12/29/95
Three Yrs Ago: 12/31/94
Five Yrs Ago: 12/31/92
Ten Yrs Ago: 12/31/87
<CAPTION>
Inception Inception Ten Yr Five Yr Three Two One Yr
Fund Date AUV AUV AUV AUV AUV AUV
<S> <C> <C> <C> <C> <C> <C> <C>
Money Market 09/24/91 10.508392 N/A 10.805244 11.196088 11.650626 12.065489
High Yield 09/24/91 13.102802 N/A 16.40258 19.33797 21.854658 24.111603
Equity 09/24/91 14.736794 N/A 16.660353 18.210988 25.858344 28.625797
Quality Income 09/24/91 11.570862 N/A 13.040873 13.32689 16.369534 16.378885
Managed Assets 09/24/91 12.503498 N/A 14.086481 15.705992 16.915435 19.16954
Dividend Growth 09/24/91 13.20481 N/A 14.89886 16.087197 21.50005 26.258516
Utilities 09/24/91 11.443237 N/A 13.891409 14.206834 17.994919 19.26819
European Growth 09/24/91 9.857747 N/A 10.318344 15.314253 18.971796 24.297886
Capital Growth 09/24/91 10.988064 N/A 12.778358 11.335731 14.919563 16.396546
Pacific Growth 02/22/94 10.021919 N/A N/A 9.140518 9.616944 9.843217
Global Div Growth 02/22/94 10.021914 N/A N/A 9.90589 11.932293 13.823682
Capital Appreciation 01/21/97 10 N/A N/A N/A N/A N/A
Income Builder 01/21/97 10 N/A N/A N/A N/A N/A
<PAGE>
Non-Standardized Calculations
YTD 3 Months Today's Inception Ten Years Five Years
Fund AUV AUV AUV Total Average Total Average Total Average
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Money Market 12.065489 12.394005 12.510584 19.05% 2.82% N/A N/A 15.78% 2.97%
High Yield 24.111603 26.241467 26.576588 102.83% 11.93% N/A N/A 62.03% 10.13%
Equity 28.625797 38.599941 38.763896 163.04% 16.67% N/A N/A 132.67% 18.40%
Quality Income 16.378885 17.396254 17.931874 54.97% 7.23% N/A N/A 37.51% 6.58%
Managed Assets 19.16954 21.914572 21.479229 71.79% 9.01% N/A N/A 52.48% 8.80%
Dividend Growth 26.258516 32.545314 32.498223 146.11% 15.44% N/A N/A 118.13% 16.88%
Utilities 19.26819 21.523067 24.140294 110.96% 12.63% N/A N/A 73.78% 11.69%
European Growth 24.297886 28.404961 27.791611 181.93% 17.96% N/A N/A 169.34% 21.92%
Capital Growth 16.396546 21.653341 20.120513 83.11% 10.12% N/A N/A 57.46% 9.50%
Pacific Growth 9.843217 8.373836 6.042153 -39.71% -12.29% N/A N/A N/A N/A
Global Div Growth 13.823682 16.069908 15.260474 52.27% 11.52% N/A N/A N/A N/A
Capital Appreciation 10 12.353276 11.163269 11.63% 12.39% N/A N/A N/A N/A
Income Builder 10 11.764447 12.068959 20.69% 22.08% N/A N/A N/A N/A
<PAGE>
Three Years Two Years
Fund Total Average Total Average One Year YTD Three Months
<S> <C> <C> <C> <C> <C> <C> <C>
Money Market 11.74% 3.77% 7.38% 3.62% 3.69% 3.69% 0.94%
High Yield 37.43% 11.18% 21.61% 10.28% 10.22% 10.22% 1.28%
Equity 112.86% 28.64% 49.91% 22.44% 35.42% 35.42% 0.42%
Quality Income 34.55% 10.40% 9.54% 4.66% 9.48% 9.48% 3.08%
Managed Assets 36.76% 11.00% 26.98% 12.69% 12.05% 12.05% -1.99%
Dividend Growth 102.01% 26.41% 51.15% 22.94% 23.76% 23.76% -0.14%
Utilities 69.92% 19.33% 34.15% 15.82% 25.29% 25.29% 12.16%
European Growth 81.48% 21.98% 46.49% 21.03% 14.38% 14.38% -2.16%
Capital Growth 77.50% 21.08% 34.86% 16.13% 22.71% 22.71% -7.08%
Pacific Growth -33.90% -12.89% -37.17% -20.74% -38.62% -38.62% -27.84%
Global Div Growth 54.05% 15.49% 27.89% 13.09% 10.39% 10.39% -5.04%
Capital Appreciation N/A N/A N/A N/A N/A 11.63% -9.63%
Income Builder N/A N/A N/A N/A N/A 20.69% 2.59%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 12.083835 82.75518
FEE 31-Dec-97 0.634 12.545891 0.05053
RESULTING VALUE 31-Dec-97 12.545891 82.70465 1037.6035
1.000
FORMULA: 1000*(1+T)= 1037.6035 - (0.85 * 1000 * 0.05)
= 995.1035
T = -0.49%
R = -0.49%
ALNY VAII HIGH YIELD
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 24.148290 41.41080
FEE 31-Dec-97 0.634 26.651638 0.02379
RESULTING VALUE 31-Dec-97 26.651638 41.38701 1103.0316
1.000
FORMULA: 1000*(1+T)= 1103.0316 - (0.85 * 1000 * 0.05)
= 1060.5316
T = 6.05%
R = 6.05%
ALNY VAII EQUITY
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 28.669371 34.88043
FEE 31-Dec-97 0.634 38.873354 0.01631
RESULTING VALUE 31-Dec-97 38.873354 34.86412 1355.2853
1.000
FORMULA: 1000*(1+T)= 1355.2853 - (0.85 * 1000 * 0.05)
Page 1
<PAGE>
= 1312.7853
T = 31.28%
R = 31.28%
ALNY VAII QUALITY INCOME
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 16.403816 60.96143
FEE 31-Dec-97 0.634 17.982521 0.03526
RESULTING VALUE 31-Dec-97 17.982521 60.92617 1095.6061
1.000
FORMULA: 1000*(1+T)= 1095.6061 - (0.85 * 1000 * 0.05)
= 1053.1061
T = 5.31%
R = 5.31%
ALNY VAII STRATEGIST
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 19.198700 52.08686
FEE 31-Dec-97 0.634 21.539863 0.02943
RESULTING VALUE 31-Dec-97 21.539863 52.05743 1121.3098
1.000
FORMULA: 1000*(1+T)= 1121.3098 - (0.85 * 1000 * 0.05)
= 1078.8098
T = 7.88%
R = 7.88%
ALNY VAII DIVIDEND GROWTH
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
Page 2
<PAGE>
INIT DEPOSIT 31-Dec-96 1000.00 26.298448 38.02506
FEE 31-Dec-97 0.634 32.589936 0.01945
RESULTING VALUE 31-Dec-97 32.589936 38.00560 1238.6002
1.000
FORMULA: 1000*(1+T)= 1238.6002 - (0.85 * 1000 * 0.05)
= 1196.1002
T = 19.61%
R = 19.61%
ALNY VAII UTILITIES
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 19.297511 51.82015
FEE 31-Dec-97 0.634 24.208448 0.02619
RESULTING VALUE 31-Dec-97 24.208448 51.79397 1253.8515
1.000
FORMULA: 1000*(1+T)= 1253.8515 - (0.85 * 1000 * 0.05)
= 1211.3515
T = 21.14%
R = 21.14%
ALNY VAII EUROPEAN GROWTH
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 24.334840 41.09335
FEE 31-Dec-97 0.634 27.870064 0.02275
RESULTING VALUE 31-Dec-97 27.870064 41.07060 1144.6402
1.000
FORMULA: 1000*(1+T)= 1144.6402 - (0.85 * 1000 * 0.05)
= 1102.1402
T = 10.21%
R = 10.21%
Page 3
<PAGE>
ALNY VAII CAPITAL GROWTH
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 16.421498 60.89578
FEE 31-Dec-97 0.634 20.177340 0.03142
RESULTING VALUE 31-Dec-97 20.177340 60.86436 1228.0809
1.000
FORMULA: 1000*(1+T)= 1228.0809 - (0.85 * 1000 * 0.05)
= 1185.5809
T = 18.56%
R = 18.56%
ALNY VAII PACIFIC GROWTH
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 9.858203 101.43837
FEE 31-Dec-97 0.634 6.059243 0.10463
RESULTING VALUE 31-Dec-97 6.059243 101.33373 614.0057
1.000
FORMULA: 1000*(1+T)= 614.0057 - (0.85 * 1000 * 0.05)
= 571.5057
T = -42.85%
R = -42.85%
ALNY VAII GLOBAL DIVIDEND GROWTH
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 13.844714 72.22973
FEE 31-Dec-97 0.634 15.303559 0.04143
Page 4
<PAGE>
RESULTING VALUE 31-Dec-97 15.303559 72.18831 1104.7380
1.000
FORMULA: 1000*(1+T)= 1104.7380 - (0.85 * 1000 * 0.05)
= 1062.2380
T = 6.22%
R = 6.22%
ALNY VAII CAPITAL APPRECIATION
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 #N/A #N/A
FEE 31-Dec-97 0.634 11.176955 0.05672
RESULTING VALUE 31-Dec-97 11.176955 #N/A #N/A
1.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.05)
= #N/A
T = #N/A
R = #N/A
ALNY VAII INCOME BUILDER
12/31/96 to 12/31/97 NO. YEARS 1.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-96 1000.00 #N/A #N/A
FEE 31-Dec-97 0.634 12.083732 0.05247
RESULTING VALUE 31-Dec-97 12.083732 #N/A #N/A
1.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.05)
= #N/A
T = #N/A
R = #N/A
Page 5
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 10.764714 92.89610
FEE 31-Dec-93 0.634 10.913226 0.05809
FEE 31-Dec-94 0.634 11.182786 0.05669
FEE 31-Dec-95 0.634 11.653110 0.05441
FEE 31-Dec-96 0.634 12.083835 0.05247
FEE 31-Dec-97 0.634 12.545891 0.05053
RESULTING VALUE 31-Dec-97 12.545891 92.62391 1162.0495
5.000
FORMULA: 1000*(1+T)= 1162.0495 - (0.85 * 1000 * 0.01)
= 1153.549461
T = 2.90%
R = 15.35%
ALNY VAII HIGH YIELD
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 16.335603 61.21598
FEE 31-Dec-93 0.634 20.022205 0.03166
FEE 31-Dec-94 0.634 19.314985 0.03282
FEE 31-Dec-95 0.634 21.859326 0.02900
FEE 31-Dec-96 0.634 24.148290 0.02625
FEE 31-Dec-97 0.634 26.651638 0.02379
RESULTING VALUE 31-Dec-97 26.651638 61.07245 1627.6808
5.000
FORMULA: 1000*(1+T)= 1627.6808 - (0.85 * 1000 * 0.01)
= 1619.180767
T = 10.12%
R = 61.92%
ALNY VAII EQUITY
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 16.599155 60.24403
FEE 31-Dec-93 0.634 19.604447 0.03234
FEE 31-Dec-94 0.634 18.189346 0.03486
FEE 31-Dec-95 0.634 25.863867 0.02451
FEE 31-Dec-96 0.634 28.669371 0.02211
FEE 31-Dec-97 0.634 38.873354 0.01631
RESULTING VALUE 31-Dec-97 38.873354 60.11390 2336.8289
5.000
FORMULA: 1000*(1+T)= 2336.8289 - (0.85 * 1000 * 0.01)
= 2328.328868
Page 1
<PAGE>
T = 18.42%
R = 132.83%
ALNY VAII QUALITY INCOME
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 12.993017 76.96442
FEE 31-Dec-93 0.634 14.486819 0.04376
FEE 31-Dec-94 0.634 13.311063 0.04763
FEE 31-Dec-95 0.634 16.373027 0.03872
FEE 31-Dec-96 0.634 16.403816 0.03865
FEE 31-Dec-97 0.634 17.982521 0.03526
RESULTING VALUE 31-Dec-97 17.982521 76.76040 1380.3455
5.000
FORMULA: 1000*(1+T)= 1380.3455 - (0.85 * 1000 * 0.01)
= 1371.84545
T = 6.53%
R = 37.18%
ALNY VAII STRATEGIST
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 14.034777 71.25158
FEE 31-Dec-93 0.634 15.285892 0.04148
FEE 31-Dec-94 0.634 15.687325 0.04041
FEE 31-Dec-95 0.634 16.919048 0.03747
FEE 31-Dec-96 0.634 19.198700 0.03302
FEE 31-Dec-97 0.634 21.539863 0.02943
RESULTING VALUE 31-Dec-97 21.539863 71.06976 1530.8328
5.000
FORMULA: 1000*(1+T)= 1530.8328 - (0.85 * 1000 * 0.01)
= 1522.33283
T = 8.77%
R = 52.23%
ALNY VAII DIVIDEND GROWTH
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 14.844196 67.36640
FEE 31-Dec-93 0.634 16.746027 0.03786
FEE 31-Dec-94 0.634 16.068087 0.03946
FEE 31-Dec-95 0.634 21.504641 0.02948
FEE 31-Dec-96 0.634 26.298448 0.02411
FEE 31-Dec-97 0.634 32.589936 0.01945
RESULTING VALUE 31-Dec-97 32.589936 67.21604 2190.5663
5.000
Page 2
<PAGE>
FORMULA: 1000*(1+T)= 2190.5663 - (0.85 * 1000 * 0.01)
= 2182.066323
T = 16.89%
R = 118.21%
ALNY VAII UTILITIES
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 13.840391 72.25229
FEE 31-Dec-93 0.634 15.797759 0.04013
FEE 31-Dec-94 0.634 14.189948 0.04468
FEE 31-Dec-95 0.634 17.998758 0.03522
FEE 31-Dec-96 0.634 19.297511 0.03285
FEE 31-Dec-97 0.634 24.208448 0.02619
RESULTING VALUE 31-Dec-97 24.208448 72.07321 1744.7807
5.000
FORMULA: 1000*(1+T)= 1744.7807 - (0.85 * 1000 * 0.01)
= 1736.280663
T = 11.67%
R = 73.63%
ALNY VAII EUROPEAN GROWTH
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 10.280422 97.27227
FEE 31-Dec-93 0.634 14.289849 0.04437
FEE 31-Dec-94 0.634 15.296029 0.04145
FEE 31-Dec-95 0.634 18.975848 0.03341
FEE 31-Dec-96 0.634 24.334840 0.02605
FEE 31-Dec-97 0.634 27.870064 0.02275
RESULTING VALUE 31-Dec-97 27.870064 97.10424 2706.3015
5.000
FORMULA: 1000*(1+T)= 2706.3015 - (0.85 * 1000 * 0.01)
= 2697.801472
T = 21.96%
R = 169.78%
ALNY VAII CAPITAL GROWTH
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 12.731456 78.54561
FEE 31-Dec-93 0.634 11.682455 0.05427
FEE 31-Dec-94 0.634 11.322270 0.05600
FEE 31-Dec-95 0.634 14.922750 0.04249
FEE 31-Dec-96 0.634 16.421498 0.03861
FEE 31-Dec-97 0.634 20.177340 0.03142
RESULTING VALUE 31-Dec-97 20.177340 78.32283 1580.3464
Page 3
<PAGE>
5.000
FORMULA: 1000*(1+T)= 1580.3464 - (0.85 * 1000 * 0.01)
= 1571.846405
T = 9.47%
R = 57.18%
ALNY VAII PACIFIC GROWTH
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #N/A #N/A
FEE 31-Dec-93 0.634 #N/A #N/A
FEE 31-Dec-94 0.634 9.129646 0.06944
FEE 31-Dec-95 0.634 9.619002 0.06591
FEE 31-Dec-96 0.634 9.858203 0.06431
FEE 31-Dec-97 0.634 6.059243 0.10463
RESULTING VALUE 31-Dec-97 6.059243 #N/A #N/A
5.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.01)
= #N/A
T = #N/A
R = #N/A
ALNY VAII GLOBAL DIVIDEND GROWTH
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #N/A #N/A
FEE 31-Dec-93 0.634 #N/A #N/A
FEE 31-Dec-94 0.634 9.894112 0.06408
FEE 31-Dec-95 0.634 11.934841 0.05312
FEE 31-Dec-96 0.634 13.844714 0.04579
FEE 31-Dec-97 0.634 15.303559 0.04143
RESULTING VALUE 31-Dec-97 15.303559 #N/A #N/A
5.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.01)
= #N/A
T = #N/A
R = #N/A
ALNY VAII CAPITAL APPRECIATION
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #N/A #N/A
Page 4
<PAGE>
FEE 31-Dec-93 0.634 #N/A #N/A
FEE 31-Dec-94 0.634 #N/A #N/A
FEE 31-Dec-95 0.634 #N/A #N/A
FEE 31-Dec-96 0.634 #N/A #N/A
FEE 31-Dec-97 0.634 11.176955 0.05672
RESULTING VALUE 31-Dec-97 11.176955 #N/A #N/A
5.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.01)
= #N/A
T = #N/A
R = #N/A
ALNY VAII INCOME BUILDER
12/31/92 to 12/31/97 NO. YEARS 5.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-92 1000.00 #N/A #N/A
FEE 31-Dec-93 0.634 #N/A #N/A
FEE 31-Dec-94 0.634 #N/A #N/A
FEE 31-Dec-95 0.634 #N/A #N/A
FEE 31-Dec-96 0.634 #N/A #N/A
FEE 31-Dec-97 0.634 12.083732 0.05247
RESULTING VALUE 31-Dec-97 12.083732 #N/A #N/A
5.000
FORMULA: 1000*(1+T)= #N/A - (0.85 * 1000 * 0.01)
= #N/A
T = #N/A
R = #N/A
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALNY VAII MONEY MARKET
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 10.451700 95.67822
1 FEE 24-Sep-92 0.634 10.718965 0.05915 0.06
2 FEE 24-Sep-93 0.634 10.873045 0.05831 0.05
3 FEE 24-Sep-94 0.634 11.076209 0.05724 0.04
4 24-Sep-95 0.634 11.531336 0.05498 0.03
5 24-Sep-96 0.634 11.966274 0.05298 0.02
6 24-Sep-97 0.634 12.417078 0.05106 0.01
7 31-Dec-97 0.634 12.545891 0.05053 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 12.545891 95.29396 1195.5477
6.270
FORMULA: 1000*(1+T)= 1195.5477
= 1195.547665
T = 2.89%
R = 19.55%
ALNY VAII HIGH YIELD
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 13.027768 76.75912
1 FEE 24-Sep-92 0.634 16.641384 0.03810 0.06
2 FEE 24-Sep-93 0.634 19.057399 0.03327 0.05
3 FEE 24-Sep-94 0.634 19.338292 0.03278 0.04
4 24-Sep-95 0.634 21.401253 0.02962 0.03
5 24-Sep-96 0.634 23.335708 0.02717 0.02
6 24-Sep-97 0.634 26.241874 0.02416 0.01
7 31-Dec-97 0.634 26.651638 0.02379 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 26.651638 76.55023 2040.1890
6.270
FORMULA: 1000*(1+T)= 2040.1890
= 2040.188957
T = 12.04%
R = 104.02%
Page 1
<PAGE>
ALNY VAII EQUITY
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 14.658434 68.22011
1 FEE 24-Sep-92 0.634 15.020758 0.04221 0.06
2 FEE 24-Sep-93 0.634 20.110886 0.03153 0.05
3 FEE 24-Sep-94 0.634 18.426008 0.03441 0.04
4 24-Sep-95 0.634 24.857748 0.02551 0.03
5 24-Sep-96 0.634 27.393140 0.02314 0.02
6 24-Sep-97 0.634 38.447995 0.01649 0.01
7 31-Dec-97 0.634 38.873354 0.01631 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 38.873354 68.03052 2644.5745
6.270
FORMULA: 1000*(1+T)= 2644.5745
= 2644.574534
T = 16.78%
R = 164.46%
ALNY VAII QUALITY INCOME
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 11.509381 86.88565
1 FEE 24-Sep-92 0.634 12.933791 0.04902 0.06
2 FEE 24-Sep-93 0.634 14.660698 0.04324 0.05
3 FEE 24-Sep-94 0.634 13.349903 0.04749 0.04
4 24-Sep-95 0.634 15.408422 0.04115 0.03
5 24-Sep-96 0.634 15.823720 0.04007 0.02
6 24-Sep-97 0.634 17.504587 0.03622 0.01
7 31-Dec-97 0.634 17.982521 0.03526 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 17.982521 86.59320 1557.1641
Page 2
<PAGE>
6.270
FORMULA: 1000*(1+T)= 1557.1641
= 1557.164086
T = 7.32%
R = 55.72%
ALNY VAII STRATEGIST
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 12.437042 80.40497
1 FEE 24-Sep-92 0.634 13.788537 0.04598 0.06
2 FEE 24-Sep-93 0.634 14.930325 0.04246 0.05
3 FEE 24-Sep-94 0.634 15.576947 0.04070 0.04
4 24-Sep-95 0.634 16.322398 0.03884 0.03
5 24-Sep-96 0.634 18.208649 0.03482 0.02
6 24-Sep-97 0.634 22.066288 0.02873 0.01
7 31-Dec-97 0.634 21.539863 0.02943 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 21.539863 80.14400 1726.2908
6.270
FORMULA: 1000*(1+T)= 1726.2908
= 1726.290764
T = 9.10%
R = 72.63%
ALNY VAII DIVIDEND GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 13.134658 76.13445
1 FEE 24-Sep-92 0.634 14.539080 0.04361 0.06
2 FEE 24-Sep-93 0.634 16.139193 0.03928 0.05
3 FEE 24-Sep-94 0.634 16.294340 0.03891 0.04
4 24-Sep-95 0.634 20.107863 0.03153 0.03
5 24-Sep-96 0.634 24.273684 0.02612 0.02
6 24-Sep-97 0.634 32.325003 0.01961 0.01
7 31-Dec-97 0.634 32.589936 0.01945 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
Page 3
<PAGE>
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 32.589936 75.91594 2474.0956
6.270
FORMULA: 1000*(1+T)= 2474.0956
= 2474.095555
T = 15.54%
R = 147.41%
ALNY VAII UTILITIES
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 11.382413 87.85483
1 FEE 24-Sep-92 0.634 13.131526 0.04828 0.06
2 FEE 24-Sep-93 0.634 16.388908 0.03868 0.05
3 FEE 24-Sep-94 0.634 14.186940 0.04469 0.04
4 24-Sep-95 0.634 16.758786 0.03783 0.03
5 24-Sep-96 0.634 18.051404 0.03512 0.02
6 24-Sep-97 0.634 21.511887 0.02947 0.01
7 31-Dec-97 0.634 24.208448 0.02619 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 24.208448 87.59457 2120.5285
6.270
FORMULA: 1000*(1+T)= 2120.5285
= 2120.528473
T = 12.74%
R = 112.05%
ALNY VAII EUROPEAN GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 9.805308 101.98558
1 FEE 24-Sep-92 0.634 10.236992 0.06193 0.06
Page 4
<PAGE>
2 FEE 24-Sep-93 0.634 12.702801 0.04991 0.05
3 FEE 24-Sep-94 0.634 15.346266 0.04131 0.04
4 24-Sep-95 0.634 18.512388 0.03425 0.03
5 24-Sep-96 0.634 21.930657 0.02891 0.02
6 24-Sep-97 0.634 28.004484 0.02264 0.01
7 31-Dec-97 0.634 27.870064 0.02275 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 27.870064 101.72388 2835.0510
6.270
FORMULA: 1000*(1+T)= 2835.0510
= 2835.050985
T = 18.08%
R = 183.51%
ALNY VAII CAPITAL GROWTH
24-Sep-91
TO NO. YEARS 6.270
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 24-Sep-91 1000.00 10.929671 91.49406
1 FEE 24-Sep-92 0.634 11.593128 0.05469 0.06
2 FEE 24-Sep-93 0.634 11.100827 0.05711 0.05
3 FEE 24-Sep-94 0.634 11.377495 0.05572 0.04
4 24-Sep-95 0.634 13.668149 0.04639 0.03
5 24-Sep-96 0.634 16.322591 0.03884 0.02
6 24-Sep-97 0.634 21.490728 0.02950 0.01
7 31-Dec-97 0.634 20.177340 0.03142 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 20.177340 91.18039 1839.7777
6.270
FORMULA: 1000*(1+T)= 1839.7777
= 1839.777696
T = 10.21%
R = 83.98%
Page 5
<PAGE>
ALNY VAII PACIFIC GROWTH
22-Feb-94
TO NO. YEARS 3.855
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 22-Feb-94 1000.00 10.000000 100.00000
1 FEE 22-Feb-95 0.634 8.627411 0.07349 0.06
2 FEE 22-Feb-96 0.634 10.401149 0.06095 0.05
3 FEE 22-Feb-97 0.634 9.957804 0.06367 0.04
4 31-Dec-97 0.634 6.059243 0.10463 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 6.059243 99.69726 604.0899
3.855
FORMULA: 1000*(1+T)= 604.0899
= 578.5899024
T = -13.23%
R = -42.14%
ALNY VAII GLOBAL DIVIDEND GROWTH
22-Feb-94
TO NO. YEARS 3.855
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 22-Feb-94 1000.00 10.000000 100.00000
1 FEE 22-Feb-95 0.634 9.976816 0.06355 0.06
2 FEE 22-Feb-96 0.634 12.277775 0.05164 0.05
3 FEE 22-Feb-97 0.634 13.891783 0.04564 0.04
4 31-Dec-97 0.634 15.303559 0.04143 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 15.303559 99.79775 1527.2607
3.855
FORMULA: 1000*(1+T)= 1527.2607
= 1501.760723
T = 11.13%
R = 50.18%
Page 6
<PAGE>
ALNY VAII CAPITAL APPRECIATION
21-Jan-97
TO NO. YEARS 0.942
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 21-Jan-97 1000.00 10.000000 100.00000
1 FEE 31-Dec-97 0.634 11.176955 0.05672 0.06
2 FEE N/A 0 N/A 0.00000 0.05
3 FEE N/A 0 N/A 0.00000 0.04
4 N/A 0 N/A 0.00000 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 11.176955 99.94328 1117.0615
0.942
FORMULA: 1000*(1+T)= 1117.0615
= 1066.0615
T = 7.03%
R = 6.61%
ALNY VAII INCOME BUILDER
21-Jan-97
TO NO. YEARS 0.942
31-Dec-97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 21-Jan-97 1000.00 10.000000 100.00000
1 FEE 31-Dec-97 0.634 12.083732 0.05247 0.06
2 FEE N/A 0 N/A 0.00000 0.05
3 FEE N/A 0 N/A 0.00000 0.04
4 N/A 0 N/A 0.00000 0.03
5 N/A 0 N/A 0.00000 0.02
6 N/A 0 N/A 0.00000 0.01
7 N/A 0 N/A 0.00000 0
8 N/A 0 N/A 0.00000 0
9 N/A 0 N/A 0.00000 0
10 N/A 0 N/A 0.00000 0
11 N/A 0 N/A 0.00000 0
12 N/A 0 N/A 0.00000 0
13 N/A 0 N/A 0.00000 0
14 FEE N/A 0 N/A 0.00000 0
15 FEE N/A 0 N/A 0.00000 0
RESULTING VALUE 31-Dec-97 12.083732 99.94753 1207.7392
0.942
FORMULA: 1000*(1+T)= 1207.7392
= 1156.7392
T = 16.72%
R = 15.67%
</TABLE>
Page 7
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
Non-Standardized Calculations
Dates:
Current: 12/31/97
3 Months Ago: 09/30/97
End of Last Year: 12/31/96
One Yr Ago: 12/31/96
Two Yrs Ago: 12/29/95
Three Yrs Ago: 12/31/94
Five Yrs Ago: 12/31/92
Ten Yrs Ago: 12/31/87
<CAPTION>
Inception Inception Ten Yr Five Yr Three Yr Two Yr One Yr
Fund Date AUV AUV AUV AUV AUV AUV
<S> <C> <C> <C> <C> <C> <C> <C>
Money Market 09/24/91 10.4517 N/A 10.764714 11.182786 11.65311 12.083835
High Yield 09/24/91 13.027768 N/A 16.335603 19.314985 21.859326 24.14829
Equity 09/24/91 14.658434 N/A 16.599155 18.189346 25.863867 28.669371
Quality Income 09/24/91 11.509381 N/A 12.993017 13.311063 16.373027 16.403816
Managed Assets 09/24/91 12.437042 N/A 14.034777 15.687325 16.919048 19.1987
Dividend Growth 09/24/91 13.134658 N/A 14.844196 16.068087 21.504641 26.298448
Utilities 09/24/91 11.382413 N/A 13.840391 14.189948 17.998758 19.297511
European Growth 09/24/91 9.805308 N/A 10.280422 15.296029 18.975848 24.33484
Capital Growth 09/24/91 10.929671 N/A 12.731456 11.32227 14.92275 16.421498
Pacific Growth 02/22/94 10 N/A N/A 9.129646 9.619002 9.858203
Global Div Growth 02/22/94 10 N/A N/A 9.894112 11.934841 13.844714
Capital Appreciation 01/21/97 10 N/A N/A N/A N/A N/A
Income Builder 01/21/97 10 N/A N/A N/A N/A N/A
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
Non-Standardized Performance
YTD 3 Months Today's Inception Ten Years Five Years
Fund AUV AUV AUV Total Average Total Average Total
<S> <C> <C> <C> <C> <C> <C> <C>
Money Market 12.083835 12.424916 12.545891 20.04% 2.95% N/A N/A 16.55%
High Yield 24.14829 26.306948 26.651638 104.58% 12.08% N/A N/A 63.15%
Equity 28.669371 38.696252 38.873354 165.19% 16.82% N/A N/A 134.19%
Quality Income 16.403816 17.439676 17.982521 56.24% 7.37% N/A N/A 38.40%
Managed Assets 19.1987 21.969239 21.539863 73.19% 9.15% N/A N/A 53.47%
Dividend Growth 26.298448 32.626471 32.589936 148.12% 15.59% N/A N/A 119.55%
Utilities 19.297511 21.576775 24.208448 112.68% 12.78% N/A N/A 74.91%
European Growth 24.33484 28.475823 27.870064 184.23% 18.12% N/A N/A 171.10%
Capital Growth 16.421498 21.707373 20.17734 84.61% 10.27% N/A N/A 58.48%
Pacific Growth 9.858203 8.394755 6.059243 -39.41% -12.18% N/A N/A N/A
Global Div Growth 13.844714 16.110002 15.303559 53.04% 11.66% N/A N/A N/A
Capital Appreciation 10 12.364355 11.176955 11.77% 12.53% N/A N/A N/A
Income Builder 10 11.774989 12.083732 20.84% 22.24% N/A N/A N/A
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
Three Years Two Years One Year YTD Three Months
Fund Average Total Average Total Average
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Money Market 3.11% 12.19% 3.91% 7.66% 3.76% 3.82% 3.82% 0.97%
High Yield 10.29% 37.98% 11.33% 21.92% 10.42% 10.37% 10.37% 1.31%
Equity 18.55% 113.71% 28.81% 50.30% 22.60% 35.59% 35.59% 0.46%
Quality Income 6.72% 35.09% 10.55% 9.83% 4.80% 9.62% 9.62% 3.11%
Managed Assets 8.95% 37.31% 11.15% 27.31% 12.83% 12.19% 12.19% -1.95%
Dividend Growth 17.03% 102.82% 26.58% 51.55% 23.10% 23.92% 23.92% -0.11%
Utilities 11.83% 70.60% 19.49% 34.50% 15.97% 25.45% 25.45% 12.20%
European Growth 22.07% 82.20% 22.14% 46.87% 21.19% 14.53% 14.53% -2.13%
Capital Growth 9.65% 78.21% 21.24% 35.21% 16.28% 22.87% 22.87% -7.05%
Pacific Growth N/A -33.63% -12.77% -37.01% -20.63% -38.54% -38.54% -27.82%
Global Div Growth N/A 54.67% 15.65% 28.23% 13.24% 10.54% 10.54% -5.01%
Capital Appreciation N/A N/A N/A N/A N/A N/A 11.77% -9.60%
Income Builder N/A N/A N/A N/A N/A N/A 20.84% 2.62%
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALIC VAII MONEY MARKET
12/31/87 to 12/31/97 NO. YEARS 10.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-87 1000.00 8.030083 124.53171
FEE 31-Dec-88 0.634 8.610334 0.07363
FEE 31-Dec-89 0.634 9.389852 0.06752
FEE 31-Dec-90 0.634 10.110932 0.06270
FEE 31-Dec-91 0.634 10.549114 0.06010
FEE 31-Dec-92 0.634 10.764714 0.05890
FEE 31-Dec-93 0.634 10.913226 0.05809
FEE 31-Dec-94 0.634 11.182786 0.05669
FEE 31-Dec-95 0.634 11.653110 0.05441
FEE 31-Dec-96 0.634 12.083835 0.05247
FEE 31-Dec-97 0.634 12.545891 0.05053
RESULTING VALUE 31-Dec-97 12.545891 123.93667 1554.8959
10.000
FORMULA: 1000*(1+T)= 1554.8959 - (0.85 * 1000 * 0)
= 1554.89589
T = 4.51%
R = 55.49%
ALIC VAII HIGH YIELD
12/31/87 to 12/31/97 NO. YEARS 10.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-87 1000.00 12.607340 79.31887
FEE 31-Dec-88 0.634 13.996211 0.04530
FEE 31-Dec-89 0.634 12.233938 0.05182
FEE 31-Dec-90 0.634 8.932412 0.07098
FEE 31-Dec-91 0.634 13.981604 0.04535
FEE 31-Dec-92 0.634 16.335603 0.03881
FEE 31-Dec-93 0.634 20.022205 0.03166
FEE 31-Dec-94 0.634 19.314985 0.03282
FEE 31-Dec-95 0.634 21.859326 0.02900
FEE 31-Dec-96 0.634 24.148290 0.02625
FEE 31-Dec-97 0.634 26.651638 0.02379
RESULTING VALUE 31-Dec-97 26.651638 78.92308 2103.4294
10.000
FORMULA: 1000*(1+T)= 2103.4294 - (0.85 * 1000 * 0)
= 2103.42943
T = 7.72%
Page 1
<PAGE>
R = 110.34%
ALIC VAII EQUITY
12/31/87 to 12/31/97 NO. YEARS 10.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-87 1000.00 8.543977 117.04151
FEE 31-Dec-88 0.634 9.367142 0.06768
FEE 31-Dec-89 0.634 11.135169 0.05694
FEE 31-Dec-90 0.634 10.705807 0.05922
FEE 31-Dec-91 0.634 16.799149 0.03774
FEE 31-Dec-92 0.634 16.599155 0.03819
FEE 31-Dec-93 0.634 19.604447 0.03234
FEE 31-Dec-94 0.634 18.189346 0.03486
FEE 31-Dec-95 0.634 25.863867 0.02451
FEE 31-Dec-96 0.634 28.669371 0.02211
FEE 31-Dec-97 0.634 38.873354 0.01631
RESULTING VALUE 31-Dec-97 38.873354 116.65161 4534.6392
10.000
FORMULA: 1000*(1+T)= 4534.6392 - (0.85 * 1000 * 0)
= 4534.63921
T = 16.32%
R = 353.46%
ALIC VAII QUALITY INCOME
12/31/87 to 12/31/97 NO. YEARS 10.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-87 1000.00 8.049316 124.23416
FEE 31-Dec-88 0.634 8.648622 0.07331
Page 2
<PAGE>
FEE 31-Dec-89 0.634 9.758726 0.06497
FEE 31-Dec-90 0.634 10.403187 0.06094
FEE 31-Dec-91 0.634 12.163222 0.05212
FEE 31-Dec-92 0.634 12.993017 0.04880
FEE 31-Dec-93 0.634 14.486819 0.04376
FEE 31-Dec-94 0.634 13.311063 0.04763
FEE 31-Dec-95 0.634 16.373027 0.03872
FEE 31-Dec-96 0.634 16.403816 0.03865
FEE 31-Dec-97 0.634 17.982521 0.03526
RESULTING VALUE 31-Dec-97 17.982521 123.73000 2224.9773
10.000
FORMULA: 1000*(1+T)= 2224.9773 - (0.85 * 1000 * 0)
= 2224.97733
T = 8.33%
R = 122.50%
ALIC VAII STRATEGIST
12/31/87 to 12/31/97 NO. YEARS 10.000
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 31-Dec-87 1000.00 8.290174 120.62473
FEE 31-Dec-88 0.634 9.350465 0.06780
FEE 31-Dec-89 0.634 10.348477 0.06127
FEE 31-Dec-90 0.634 10.483449 0.06048
FEE 31-Dec-91 0.634 13.266070 0.04779
FEE 31-Dec-92 0.634 14.034777 0.04517
FEE 31-Dec-93 0.634 15.285892 0.04148
FEE 31-Dec-94 0.634 15.687325 0.04041
FEE 31-Dec-95 0.634 16.919048 0.03747
FEE 31-Dec-96 0.634 19.198700 0.03302
FEE 31-Dec-97 0.634 21.539863 0.02943
RESULTING VALUE 31-Dec-97 21.539863 120.16040 2588.2385
10.000
FORMULA: 1000*(1+T)= 2588.2385 - (0.85 * 1000 * 0)
= 2588.23854
T = 9.98%
R = 158.82%
ALIC VAII DIVIDEND GROWTH
3/1/90
TO NO. YEARS 7.835729
Page 3
<PAGE>
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 3/1/90 1000 12.000832 83.32755596
1 FEE 3/1/91 0.634 12.465782 0.050859224 0.06
2 FEE 3/1/92 0.634 13.986372 0.04532984 0.05
3 FEE 3/1/93 0.634 15.361467 0.0412721 0.04
4 3/1/94 0.634 16.523177 0.038370345 0.03
5 3/1/95 0.634 17.014605 0.037262105 0.02
6 3/1/96 0.634 22.803449 0.027802812 0.01
7 3/1/97 0.634 27.282267 0.023238538 0
8 12/31/97 0.634 32.589936 0.019453858 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 32.589936 83.04396713 2706.39757
7.835729
FORMULA: 1000*(1+ 2706.39757
= 2706.39757
T = 0.1354867
R = 1.70639757
ALIC VAII UTILITIES
3/1/90
TO NO. YEARS 7.835729
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 3/1/90 1000 10.04251 99.57669945
1 FEE 3/1/91 0.634 10.811481 0.058641365 0.06
2 FEE 3/1/92 0.634 12.003716 0.052816978 0.05
3 FEE 3/1/93 0.634 14.879112 0.04261007 0.04
4 3/1/94 0.634 15.003655 0.04225637 0.03
5 3/1/95 0.634 14.738506 0.043016572 0.02
6 3/1/96 0.634 18.115984 0.034996719 0.01
7 3/1/97 0.634 19.481392 0.032543876 0
8 12/31/97 0.634 24.208448 0.026189205 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 24.208448 99.2436283 2402.53421
7.835729
FORMULA: 1000*(1+ 2402.53421
Page 4
<PAGE>
= 2402.53421
T = 0.11835906
R = 1.40253421
ALIC VAII EUROPEAN GROWTH
9/24/91
TO NO. YEARS 6.269678
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 9/24/91 1000 9.805308 101.9855776
1 FEE 9/24/92 0.634 10.236992 0.061932255 0.06
2 FEE 9/24/93 0.634 12.702801 0.049910252 0.05
3 FEE 9/24/94 0.634 15.346266 0.041312981 0.04
4 9/24/95 0.634 18.512388 0.034247338 0.03
5 9/24/96 0.634 21.930657 0.028909303 0.02
6 9/24/97 0.634 28.004484 0.022639232 0.01
7 12/31/97 0.634 27.870064 0.022748423 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 27.870064 101.7238778 2835.05099
6.269678
FORMULA: 1000*(1+ 2835.05099
= 2835.05099
T = 0.18081666
R = 1.83505099
ALIC VAII CAPITAL GROWTH
9/24/91
TO NO. YEARS 6.269678
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 9/24/91 1000 10.929671 91.49406236
1 FEE 9/24/92 0.634 11.593128 0.05468757 0.06
2 FEE 9/24/93 0.634 11.100827 0.057112862 0.05
3 FEE 9/24/94 0.634 11.377495 0.055724041 0.04
4 9/24/95 0.634 13.668149 0.046385213 0.03
5 9/24/96 0.634 16.322591 0.038841873 0.02
6 9/24/97 0.634 21.490728 0.029501095 0.01
7 12/31/97 0.634 20.17734 0.031421387 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
Page 5
<PAGE>
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 20.17734 91.18038832 1839.7777
6.269678
FORMULA: 1000*(1+ 1839.7777
= 1839.7777
T = 0.10212155
R = 0.8397777
ALIC VAII PACIFIC GROWTH
2/22/94
TO NO. YEARS 3.854894
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 2/22/94 1000 10 100
1 FEE 2/22/95 0.634 8.627411 0.073486704 0.06
2 FEE 2/22/96 0.634 10.401149 0.060954804 0.05
3 FEE 2/22/97 0.634 9.957804 0.063668656 0.04
4 12/31/97 0.634 6.059243 0.104633533 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 6.059243 99.6972563 604.089902
3.854894
FORMULA: 1000*(1+ 604.089902
= 578.589902
T = -0.1323262
R = -0.4214101
ALIC VAII GLOBAL DIVIDEND GROWTH
2/22/94
Page 6
<PAGE>
TO NO. YEARS 3.854894
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 2/22/94 1000 10 100
1 FEE 2/22/95 0.634 9.976816 0.063547328 0.06
2 FEE 2/22/96 0.634 12.277775 0.051638021 0.05
3 FEE 2/22/97 0.634 13.891783 0.04563849 0.04
4 12/31/97 0.634 15.303559 0.041428272 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 15.303550 99.79774789 1527.26072
3.854894
FORMULA: 1000*(1+ 1527.26072
= 1501.76072
T = 0.11125081
R = 0.50176072
ALIC VAII CAPITAL APPRECIATION
1/21/97
TO NO. YEARS 0.941821
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 1/21/97 1000 10 100
1 FEE 12/31/97 0.634 11.176855 0.056723857 0.06
2 FEE N/A 0 N/A 0 0.05
3 FEE N/A 0 N/A 0 0.04
4 N/A 0 N/A 0 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 11.176955 99.94327614 1117.0615
0.941821
FORMULA: 1000*(1+ 1117.0615
= 1066.0615
T = 0.07028259
R = 0.0660815
Page 7
<PAGE>
ALIC VAII INCOME BUILDER
1/21/97
TO NO. YEARS 0.941821
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES
0 INIT DEPOSIT 1/21/97 1000 10 100
1 FEE 12/31/97 0.634 12.083732 0.052487234 0.06
2 FEE N/A 0 N/A 0 0.05
3 FEE N/A 0 N/A 0 0.04
4 N/A 0 N/A 0 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 12.083732 99.94753277 1207.7392
0.941821
FORMULA: 1000*(1+ 1207.7392
= 1156.7392
T = 0.16719042
R = 0.1567392
</TABLE>
Page 8
<PAGE>
<TABLE>
<CAPTION>
<S><C>
ALIC VAII MONEY MARKET
12/31/87
TO NO. YEARS 10
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 12/31/87 1000 8.030083 124.5317141
FEE 12/31/88 0.634 8.610334 0.073632451
FEE 12/31/89 0.634 9.389852 0.067519701
FEE 12/31/90 0.634 10.175444 0.062306863
FEE 12/31/91 0.634 10.602635 0.059796456
FEE 12/31/92 0.634 10.805244 0.058675214
FEE 12/31/93 0.634 10.939204 0.057956685
FEE 12/31/94 0.634 11.196088 0.056626922
FEE 12/31/95 0.634 11.650626 0.054417677
FEE 12/31/96 0.634 12.065489 0.052546565
FEE 12/31/97 0.634 12.510584 0.050677091
RESULTING VALUE 12/31/97 12.510584 123.9375584 1550.53124
10
FORMULA: 1000*(1+T)= 1550.53124 - (0.85 * 1000 * 0)
= 1550.53124
T = 0.04483582
R = 0.55053124
ALIC VAII HIGH YIELD
12/31/87
TO NO. YEARS 10
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 12/31/87 1000 12.60734 79.31887297
FEE 12/31/88 0.634 13.996211 0.045297974
FEE 12/31/89 0.634 12.233938 0.051823052
FEE 12/31/90 0.634 8.992388 0.070504075
FEE 12/31/91 0.634 14.057226 0.045101359
FEE 12/31/92 0.634 16.40258 0.038652456
FEE 12/31/93 0.634 20.069886 0.031589616
FEE 12/31/94 0.634 19.33797 0.032785241
FEE 12/31/95 0.634 21.854658 0.029009834
FEE 12/31/96 0.634 24.111603 0.026294394
FEE 12/31/97 0.634 26.576588 0.023855583
RESULTING VALUE 12/31/97 26.576588 78.92395939 2097.52955
10
FORMULA: 1000*(1+T)= 2097.52955 - (0.85 * 1000 * 0)
= 2097.52966
T = 0.07688867
R = 1.09752955
Page 1
<PAGE>
ALIC VAII EQUITY
12/31/87
TO NO. YEARS 10
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 12/31/87 1000 8.543977 117.0415136
FEE 12/31/88 0.634 9.367142 0.067683398
FEE 12/31/89 0.634 11.135169 0.05693672
FEE 12/31/90 0.634 10.77327 0.058849356
FEE 12/31/91 0.634 16.883076 0.037552399
FEE 12/31/92 0.634 16.660353 0.038054416
FEE 12/31/93 0.634 19.651076 0.032262864
FEE 12/31/94 0.634 18.210988 0.034814146
FEE 12/31/95 0.634 25.858344 0.024518198
FEE 12/31/96 0.634 28.625797 0.022147855
FEE 12/31/97 0.634 38.763896 0.016355425
RESULTING VALUE 12/31/97 38.763896 116.6523388 4521.89913
10
FORMULA: 1000*(1+T)= 4521.89913 - (0.85 * 1000 * 0)
= 4521.89913
T = 0.16287246
R = 3.52189913
ALIC VAII QUALITY INCOME
12/31/87
TO NO. YEARS 10
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 12/31/87 1000 8.049316 124.2341585
FEE 12/31/88 0.634 8.648622 0.073306476
FEE 12/31/89 0.634 9.758726 0.064967497
FEE 12/31/90 0.634 10.468699 0.060561489
FEE 12/31/91 0.634 12.223939 0.051865442
FEE 12/31/92 0.634 13.040873 0.048616377
Page 2
<PAGE>
FEE 12/31/93 0.634 14.521285 0.043660048
FEE 12/31/94 0.634 13.32689 0.04757299
FEE 12/31/95 0.634 16.369534 0.038730486
FEE 12/31/96 0.634 16.378885 0.038708374
FEE 12/31/97 0.634 17.931874 0.035356037
RESULTING VALUE 12/31/97 17.931874 123.7308133 2218.72535
10
FORMULA: 1000*(1+T)= 2218.72535 - (0.85 * 1000 * 0)
= 2218.72535
T = 0.08295486
R = 1.21872535
ALIC VAII STRATEGIST
12/31/87
TO NO. YEARS 10
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
INIT DEPOSIT 12/31/87 1000 8.290174 120.62473
FEE 12/31/88 0.634 9.350465 0.067804115
FEE 12/31/89 0.634 10.348477 0.061265054
FEE 12/31/90 0.634 10.54948 0.060097749
FEE 12/31/91 0.634 13.332302 0.047553678
FEE 12/31/92 0.634 14.086481 0.045007692
FEE 12/31/93 0.634 15.322262 0.041377703
FEE 12/31/94 0.634 15.705992 0.040366759
FEE 12/31/95 0.634 16.915435 0.037480561
FEE 12/31/96 0.634 19.16954 0.033073303
FEE 12/31/97 0.634 21.479229 0.029516888
RESULTING VALUE 12/31/97 21.479229 120.1611864 2580.96964
10
FORMULA: 1000*(1+T)= 2580.96964 - (0.85 * 1000 * 0)
= 2580.96964
T = 0.0994571
R = 1.58096964
NLIC VAII DIVIDEND GROWTH
3/1/90
TO NO. YEARS 7.83572895
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 3/1/90 1000 12.000832 83.32755596
1 FEE 3/1/91 0.634 12.541618 0.050551691 0.06
Page 3
<PAGE>
2 FEE 3/1/92 0.634 14.053222 0.045114209 0.05
3 FEE 3/1/93 0.634 15.414746 0.041129448 0.04
4 3/1/94 0.634 16.558979 0.038287385 0.03
5 3/1/95 0.634 17.029327 0.037229892 0.02
6 3/1/96 0.634 22.793486 0.027814964 0.01
7 3/1/97 0.634 27.235121 0.023278766 0
8 12/31/97 0.634 32.498223 0.019508759 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 32.498223 83.04464084 2698.80326
7.83572895
FORMULA: 1000*(1+T)= 2698.80326
= 2698.80326
T = 0.13507957
R = 1.69880326
NLIC VAII UTILITIES
3/1/90
TO NO. YEARS 7.83572895
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 3/1/90 1000 10.04251 99.57669945
1 FEE 3/1/91 0.634 10.87726 0.058286738 0.06
2 FEE 3/1/92 0.634 12.061128 0.052565564 0.05
3 FEE 3/1/93 0.634 14.930771 0.042462643 0.04
4 3/1/94 0.634 15.036174 0.042164982 0.03
5 3/1/95 0.634 14.751266 0.042979362 0.02
6 3/1/96 0.634 18.108068 0.035012018 0.01
7 3/1/97 0.634 19.447702 0.032600253 0
8 12/31/97 0.634 24.140294 0.026263143 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 24.140294 99.24436475 2395.78814
7.83572895
FORMULA: 1000*(1+T)= 2395.78814
= 2395.78814
T = 0.11795781
R = 1.39578814
ALNY VAII EUROPEAN GROWTH
9/24/91
Page 4
<PAGE>
TO NO. YEARS 6.2696783
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 9/24/91 1000 9.857747 101.4430579
1 FEE 9/24/92 0.634 10.278345 0.061683082 0.06
2 FEE 9/24/93 0.634 12.737529 0.049774175 0.05
3 FEE 9/24/94 0.634 15.368264 0.041253846 0.04
4 9/24/95 0.634 18.514892 0.034242706 0.03
5 9/24/96 0.634 21.904962 0.028943214 0.02
6 9/24/97 0.634 27.93539 0.022695226 0.01
7 12/31/97 0.634 27.791611 0.022812639 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 27.791611 101.181653 2812.00114
6.2696783
FORMULA: 1000*(1+T)= 2812.00114
= 2812.00114
T = 0.17928016
R = 1.81200114
ALNY VAII CAPITAL GROWTH
9/24/91
TO NO. YEARS 6.2696783
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 9/24/91 1000 10.988064 91.00784269
1 FEE 9/24/92 0.634 11.639888 0.054467878 0.06
2 FEE 9/24/93 0.634 11.131116 0.056957452 0.05
3 FEE 9/24/94 0.634 11.393759 0.055644498 0.04
4 9/24/95 0.634 13.669996 0.046378946 0.03
5 9/24/96 0.634 16.303466 0.038887437 0.02
6 9/24/97 0.634 21.43769 0.029574082 0.01
7 12/31/97 0.634 20.120513 0.031510131 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 20.120513 90.69442227 1824.8183
6.2696783
FORMULA: 1000*(1+T)= 1824.8183
= 1824.8183
Page 5
<PAGE>
T = 0.1006873
R = 0.8248183
ALNY VAII PACIFIC GROWTH
2/22/94
TO NO. YEARS 3.85489391
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 2/22/94 1000 10.021919 99.78128939
1 FEE 2/22/95 0.634 8.63509 0.073421354 0.06
2 FEE 2/22/96 0.634 10.396899 0.060979721 0.05
3 FEE 2/22/97 0.634 9.940823 0.063777416 0.04
4 12/31/97 0.634 6.042153 0.104929485 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 6.042153 99.47818142 601.062392
3.85489391
FORMULA: 1000*(1+T)= 601.062392
= 575.562392
T = -0.13350622
R = -0.42443761
ALNY VAII GLOBAL DIVIDEND GROWTH
2/22/94
TO NO. YEARS 3.85489391
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 2/22/94 1000 10.021914 99.78133917
1 FEE 2/22/95 0.634 9.9857 0.063490792 0.06
2 FEE 2/22/96 0.634 12.272756 0.051659138 0.05
3 FEE 2/22/97 0.634 13.868112 0.045716389 0.04
4 12/31/97 0.634 15.260474 0.041545236 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
Page 6
<PAGE>
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 15.260474 99.57892762 1519.62164
3.85489391
FORMULA: 1000*(1+T)= 1519.62164
= 1494.12164
T = 0.10978168
R = 0.49412164
ALNY VAII CAPITAL APPRECIATION
1/21/97
TO NO. YEARS 0.94182067
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 1/21/97 1000 10 100
1 FEE 12/31/97 0.634 11.163269 0.0567934 0.06
2 FEE N/A 0 N/A 0 0.05
3 FEE N/A 0 N/A 0 0.04
4 N/A 0 N/A 0 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 11.163269 99.9432066 1115.6929
0.94182067
FORMULA: 1000*(1+T)= 1115.6929
= 1064.6929
T = 0.06882375
R = 0.0646929
ALNY VAII INCOME BUILDER
1/21/97
TO NO. YEARS 0.94182067
12/31/97
TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE
0 INIT DEPOSIT 1/21/97 1000 10 100
1 FEE 12/31/97 0.634 12.068959 0.052531457 0.06
2 FEE N/A 0 N/A 0 0.05
3 FEE N/A 0 N/A 0 0.04
Page 7
<PAGE>
4 N/A 0 N/A 0 0.03
5 N/A 0 N/A 0 0.02
6 N/A 0 N/A 0 0.01
7 N/A 0 N/A 0 0
8 N/A 0 N/A 0 0
9 N/A 0 N/A 0 0
10 N/A 0 N/A 0 0
11 N/A 0 N/A 0 0
12 N/A 0 N/A 0 0
13 N/A 0 N/A 0 0
14 FEE N/A 0 N/A 0 0
15 FEE N/A 0 N/A 0 0
RESULTING VALUE 12/31/97 12.068959 99.94746854 1206.2619
0.94182067
FORMULA: 1000*(1+T)= 1206.2619
= 1155.2619
T = 0.16580775
R = 0.1552619
</TABLE>
Page 8
<PAGE>
POWER OF ATTORNEY
WITH RESPECT TO THE ALLSTATE LIFE INSURANCE COMPANY OF
NEW YORK VARIABLE ANNUITY ACCOUNT II CONTRACT
Know all men by these presents that Vincent A. Fusco whose signature
appears below, constitutes and appoints Louis G. Lower, II, and Michael J.
Velotta, and each of them, his attorneys-in-fact, with power of substitution,
and his in any and all capacities, to sign any registration statements and
amendments thereto for the Allstate Life Insurance Company of New York Variable
Annuity Account II Contract and to file the same, with exhibits thereto and
other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that each of said
attorneys-in-fact, or his substitute or substitutes, may do or cause to be done
by virtue hereof.
January 29, 1998
--------------------------------
Date
/s/ VINCENT A. FUSCO
--------------------------------
Vincent A. Fusco
Director & Chief Operations Officer
<PAGE>
POWER OF ATTORNEY
WITH RESPECT TO THE ALLSTATE LIFE INSURANCE COMPANY OF
NEW YORK VARIABLE ANNUITY ACCOUNT II CONTRACT
Know all men by these presents that Patricia W. Wilson whose signature
appears below, constitutes and appoints Louis G. Lower, II, and Michael J.
Velotta, and each of them, her attorneys-in-fact, with power of substitution,
and her in any and all capacities, to sign any registration statements and
amendments thereto for the Allstate Life Insurance Company of New York Variable
Annuity Account II Contract and to file the same, with exhibits thereto and
other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that each of said
attorneys-in-fact, or his substitute or substitutes, may do or cause to be done
by virtue hereof.
January 28, 1998
-----------------------------------
Date
/s/ PATRICIA W. WILSON
-----------------------------------
Patricia W. Wilson
Director
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