<PAGE> 1
[NATIONWIDE LOGO]
NATIONWIDE(R)
VL SEPARATE ACCOUNT-A
ANNUAL REPORT
TO
CONTRACT OWNERS
DECEMBER 31, 1999
NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY
HOME OFFICE: COLUMBUS, OHIO
FHL-150-R(12/99)
<PAGE> 2
[NATIONWIDE LOGO]
NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY
ONE NATIONWIDE PLAZA,
COLUMBUS, OHIO 43215-2220
PRESIDENT'S MESSAGE
[Joseph J. Gasper's Photo]
We at Nationwide Life and Annuity Insurance Company are pleased to bring you the
1999 annual report of the Nationwide VL Separate Account-A.
During 1999 equity investments extended their spirited advance to a fifth
consecutive year. The S&P 500 was the laggard of the major indices with a
year-over-year change of a respectable 19.53%. The NASDAQ topped the list at
over 85% with the other indices falling into line nearer the lower end of the
range. Fixed earnings investments did not fare as well in the current
environment of rising interest rates.
The U.S. economy remains strong, inflation remains docile and the available
labor pool is incessantly tight. Against this good-news-bad-news backdrop, the
Federal Reserve is increasingly concerned that recent productivity gains will
subside and ignite wage inflation. To date, the Fed has hiked short-term
interest rates a quarter percentage point on four occasions since last June.
Prospectively, they may well become more aggressive in their preemptive efforts
to dampen economic growth and avoid a new round of inflation.
We believe some caution may be warranted at this juncture. Certain market
sectors are well extended and may inevitably retreat to less lofty valuation
levels. However, we remain bullish for the long-term prospects of financial
assets. Your variable insurance contract provides an excellent resource to help
you achieve your long-term retirement savings and financial planning objectives.
We appreciate your trust in our company and in our investment products, and we
welcome and encourage your feedback.
/s/ Joseph J. Gasper
Joseph J. Gasper, President
February 10, 2000
3
<PAGE> 3
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY
December 31, 1999
<TABLE>
<CAPTION>
<S> <C>
ASSETS:
Investments at market value:
American Century VP - American Century VP Advantage (ACVPAdv)
175 shares (cost $1,127) .............................................. $ 1,259
American Century VP - American Century VP Balanced (ACVPBal)
48,162 shares (cost $351,008) ......................................... 375,180
American Century VP - American Century VP Capital Appreciation (ACVPCapAp)
7,582 shares (cost $101,183) .......................................... 112,519
American Century VP - American Century VP Income & Growth (ACVPIncGr)
39,027 shares (cost $271,875) ......................................... 312,215
American Century VP - American Century VP International (ACVPInt)
411,083 shares (cost $3,388,794) ...................................... 5,138,541
American Century VP - American Century VP Value (ACVPValue)
301,635 shares (cost $2,038,832) ...................................... 1,794,729
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
2,971 shares (cost $109,924) .......................................... 116,063
Dreyfus Stock Index Fund (DryStkIx)
373,933 shares (cost $12,127,432) ..................................... 14,377,711
Dreyfus VIF - Capital Appreciation Portfolio (DryCapAp)
299,443 shares (cost $11,292,098) ..................................... 11,938,808
Dreyfus VIF - Growth and Income Portfolio (DryGrInc)
14,855 shares (cost $331,283) ......................................... 378,498
Fidelity VIP - Equity-Income Portfolio (FidVIPEI)
94,445 shares (cost $2,283,878) ....................................... 2,428,169
Fidelity VIP - Growth Portfolio (FidVIPGr)
33,903 shares (cost $1,594,701) ....................................... 1,862,269
Fidelity VIP - High Income Portfolio (FidVIPHI)
115,310 shares (cost $1,305,478) ...................................... 1,304,157
Fidelity VIP - Overseas Portfolio (FidVIPOv)
51,349 shares (cost $998,102) ......................................... 1,409,012
Fidelity VIP-II - Asset Manager Portfolio (FidVIPAM)
441,592 shares (cost $7,574,286) ...................................... 8,244,519
Fidelity VIP-II - Contrafund Portfolio (FidVIPCon)
38,780 shares (cost $1,008,431) ....................................... 1,130,444
Fidelity VIP-III - Growth Opportunities Portfolio (FidVIPGrOp)
62,939 shares (cost $1,402,801) ....................................... 1,457,028
Morgan Stanley - Emerging Markets Debt Portfolio (MSEmMkt)
13,324 shares (cost $91,147) .......................................... 92,067
Nationwide SAT - Capital Appreciation Fund (NSATCapAp)
98,715 shares (cost $2,536,420) ....................................... 2,537,971
</TABLE>
4
<PAGE> 4
<TABLE>
<CAPTION>
<S> <C>
Nationwide SAT - Government Bond Fund (NSATGvtBd)
450,774 shares (cost $5,072,682) ............................ 4,863,855
Nationwide SAT - Money Market Fund (NSATMyMkt)
2,004,894 shares (cost $2,004,894) .......................... 2,004,894
Nationwide SAT - Small Cap Value Fund (NSATSmCapV)
230,678 shares (cost $2,429,166) ............................ 2,242,194
Nationwide SAT - Small Company Fund (NSATSmCo)
69,766 shares (cost $1,175,390) ............................. 1,543,216
Nationwide SAT - Total Return Fund (NSATTotRe)
30,236 shares (cost $562,323) ............................... 568,732
Neuberger & Berman AMT - Balanced Portfolio (NBAMTBal)
840 shares (cost $13,119) ................................... 17,544
Neuberger & Berman AMT - Growth Portfolio (NBAMTGro)
107,748 shares (cost $2,714,946) ............................ 4,015,778
Neuberger & Berman AMT - Guardian Portfolio (NBAMTGuard)
675 shares (cost $10,476) ................................... 10,698
Neuberger & Berman AMT - Limited Maturity Bond (NBAMTLMat)
378,565 shares (cost $5,040,396) ............................ 5,012,199
Neuberger & Berman AMT - Partner's Portfolio (NBAMTPart)
213,303 shares (cost $4,093,519) ............................ 4,189,273
Oppenheimer VAF - Bond Fund (OppBdFd)
89,027 shares (cost $1,027,220) ............................. 1,025,587
Oppenheimer VAF - Global Securities Fund (OppGlSec)
37,549 shares (cost $942,600) ............................... 1,254,502
Oppenheimer VAF - Growth Fund (OppGro)
56,575 shares (cost $2,276,701) ............................. 2,819,702
Oppenheimer VAF - Multiple Stategies Fund (OppMult)
5 shares (cost $90) ......................................... 92
Strong Opportunity Fund II, Inc. (StOpp2)
187,909 shares (cost $4,127,659) ............................ 4,883,751
Strong VIF - Strong International Stock Fund II (StIntStk2)
56,088 shares (cost $706,400) ............................... 918,165
Van Eck WIT - Worldwide Bond Fund (VEWrldBd)
120 shares (cost $1,284) .................................... 1,285
Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt)
32,699 shares (cost $384,238) ............................... 466,292
Van Kampen LIT -
Morgan Stanley Real Estate Securities Portfolio (VKMSRESec)
16,123 shares (cost $209,098) ............................... 199,440
Warburg Pincus Trust - International Equity Portfolio (WPIntEq)
43,530 shares (cost $618,114) ............................... 726,948
Warburg Pincus Trust - Small Company Growth Portfolio (WPSmCoGr)
135,864 shares (cost $2,061,671) ............................ 3,559,640
-----------
Total assets ............................................. 95,334,946
ACCOUNTS PAYABLE ..................................................... 16,443
-----------
CONTRACT OWNERS' EQUITY (NOTE 7) ..................................... $95,318,503
===========
</TABLE>
5
<PAGE> 5
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY
STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
Total ACVPAdv
--------------------------------------------- -------------------------------------
1999 1998 1997 1999 1998 1997
------------ ---------- ------- ----- ------- -------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............. $ 1,543,056 646,514 8,040 259 9,771 5,992
Mortality and expense charges
(note 3) ...................... (467,727) (151,794) (795) (28) (71) (645)
------------ ---------- ------- ----- ------- -------
Net investment activity ....... 1,075,329 494,720 7,245 231 9,700 5,347
------------ ---------- ------- ----- ------- -------
Proceeds from mutual fund
shares sold ................... 60,541,280 35,415,399 33,699 517,544 1,525 377
Cost of mutual funds sold ........ (57,895,551) (35,903,585) (28,831) (387,125) (1,311) (315)
------------ ---------- ------- ----- ------- -------
Realized gain (loss)
on investments .............. 2,645,729 (488,186) 4,868 130,419 214 62
Change in unrealized gain (loss)
on investments ................ 7,719,292 3,222,056 29,307 (120,040) 27,703 22,147
------------ ---------- ------- ----- ------- -------
Net gain (loss) on investments 10,365,021 2,733,870 34,175 10,379 27,917 22,209
------------ ---------- ------- ----- ------- -------
Reinvested capital gains ......... 1,809,923 149,622 23,407 616 36,765 21,011
------------ ---------- ------- ----- ------- -------
Net change in contract
owners' equity resulting
from operations .......... 13,250,273 3,378,212 64,827 11,226 74,382 48,567
------------ ---------- ------- ----- ------- -------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............... 38,247,054 47,374,274 14,070 194 1,158 2,047
Transfers between funds .......... -- -- -- -- -- --
Surrenders ....................... (2,523,443) (18,421) (23,075) (517,336) -- --
Death benefits (note 4) .......... -- (25,069) -- -- -- --
Policy loans (net of repayments)
(note 5) ...................... (2,095) (9,541) 13,620 -- -- --
Deductions for surrender charges
(note 2d) ..................... (1,788) -- (4,334) (7) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............. (3,028,552) (1,853,909) (8,935) (262) (1,563) --
------------ ---------- ------- ----- ------- -------
Net equity transactions ..... 32,691,176 45,467,334 (8,654) (517,411) (405) 2,047
------------ ---------- ------- ----- ------- -------
Net change in contract owners' equity 45,941,449 48,845,546 56,173 (506,185) 73,977 50,614
Contract owners' equity
beginning of period .............. 49,377,054 531,508 475,335 507,448 433,471 382,857
------------ ---------- ------- ----- ------- -------
Contract owners' equity end of period $ 95,318,503 49,377,054 531,508 1,263 507,448 433,471
============ ========== ======= ===== ======= =======
ACVPBal
-------------------------------
1999 1998 1997
------- -------
<S> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............. 3,300 -- --
Mortality and expense charges
(note 3) ...................... (1,866) (923) --
------- -------
Net investment activity ....... 1,434 (923) --
------- -------
Proceeds from mutual fund
shares sold ................... 102,236 96,716 --
Cost of mutual funds sold ........ (100,010) (93,298) --
------- -------
Realized gain (loss)
on investments .............. 2,226 3,418 --
Change in unrealized gain (loss)
on investments ................ 8,524 15,647 --
------- -------
Net gain (loss) on investments 10,750 19,065 --
------- -------
Reinvested capital gains ......... 22,770 -- --
------- -------
Net change in contract
owners' equity resulting
from operations .......... 34,954 18,142 --
------- -------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............... 220,936 267,848 --
Transfers between funds .......... (87,225) (55,648) --
Surrenders ....................... -- -- --
Death benefits (note 4) .......... -- -- --
Policy loans (net of repayments)
(note 5) ...................... -- -- --
Deductions for surrender charges
(note 2d) ..................... -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............. (12,365) (11,523) --
------- -------
Net equity transactions ..... 121,346 200,677 --
------- -------
Net change in contract owners' equity 156,300 218,819 --
Contract owners' equity
beginning of period .............. 218,819 -- --
------- -------
Contract owners' equity end of period 375,119 218,819 --
======= =======
</TABLE>
6
<PAGE> 6
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
ACVPCapAp ACVPIncGr ACVPInt
------------------------------- ---------------------- -------------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
---------- ------- ------- -------- ------ ------ ---------- ------- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ................$ -- -- -- 2 -- -- -- -- --
Mortality and expense charges
(note 3) ......................... (117) (422) -- (1,162) -- -- (12,097) (134) --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Net investment activity .......... (117) (422) -- (1,160) -- -- (12,097) (134) --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Proceeds from mutual fund
shares sold ...................... 135,273 279,714 -- 32,615 -- -- 174,880 126,140 --
Cost of mutual funds sold ........... (125,379) (276,016) -- (30,090) -- -- (151,346) (131,696) --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Realized gain (loss)
on investments ................. 9,894 3,698 -- 2,525 -- -- 23,534 (5,556) --
Change in unrealized gain (loss)
on investments ................... (3,922) 15,258 -- 40,340 -- -- 1,744,161 5,586 --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Net gain (loss) on investments ... 5,972 18,956 -- 42,865 -- -- 1,767,695 30 --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Reinvested capital gains ............ -- 130 -- -- -- -- -- -- --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Net change in contract
owners' equity resulting
from operations ............. 5,855 18,664 -- 41,705 -- -- 1,755,598 (104) --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners .................. 29,308 336,228 -- 260,281 -- -- 193,929 24,566 --
Transfers between funds ............. (46,988) (223,889) -- 16,645 -- -- 3,176,046 34,693 --
Surrenders .......................... -- -- -- -- -- -- -- -- --
Death benefits (note 4) ............. -- -- -- -- -- -- -- (550) --
Policy loans (net of repayments)
(note 5) ......................... -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ........................ -- -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ................ (1,564) (5,109) -- (6,446) -- -- (43,651) (1,674) --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Net equity transactions ........ (19,244) 107,230 -- 270,480 -- -- 3,326,324 57,035 --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Net change in contract owners' equity.. (13,389) 125,894 -- 312,185 -- -- 5,081,922 56,931 --
Contract owners' equity
beginning of period ................. 125,894 -- -- -- -- -- 56,931 -- --
---------- ------- ------- -------- ------ ------ ---------- ------- -----
Contract owners' equity end of period..$ 112,505 125,894 -- 312,185 -- -- 5,138,853 56,931 --
========== ======= ======= ======== ====== ====== ========== ======= =====
</TABLE>
(Continued)
7
<PAGE> 7
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
ACVPValue DrySRGro DryStkIx
--------------------------- ------------------------ -------------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
----------- ------- ---- ------- ------- ----- ---------- --------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............. $ 1,140 16 -- 14 484 -- 119,373 50,776 --
Mortality and expense charges
(note 3) ...................... (6,307) (294) -- (2,333) (754) -- (60,870) (18,196) --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Net investment activity ....... (5,167) (278) -- (2,319) (270) -- 58,503 32,580 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Proceeds from mutual fund
shares sold ................... 248,387 6,438 -- 964,522 6,526 -- 2,420,771 435,823 --
Cost of mutual funds sold ........ (269,793) (7,114) -- (855,935) (6,519) -- (2,055,892) (441,804) --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Realized gain (loss)
on investments .............. (21,406) (676) -- 108,587 7 -- 364,879 (5,981) --
Change in unrealized gain (loss)
on investments ................ (245,409) 1,306 -- (30,786) 36,926 -- 1,474,439 775,840 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Net gain (loss) on investments (266,815) 630 -- 77,801 36,933 -- 1,839,318 769,859 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Reinvested capital gains ......... 10,801 184 -- 3,864 10,865 -- 107,483 9,613 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Net change in contract
owners' equity resulting
from operations .......... (261,181) 536 -- 79,346 47,528 -- 2,005,304 812,052 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............... 47,204 114,633 -- 294,591 179,953 -- 3,585,926 2,697,202 --
Transfers between funds .......... 1,931,098 (6,576) -- (548,749) 98,530 -- 2,458,300 3,507,438 --
Surrenders ....................... -- -- -- -- -- -- -- -- --
Death benefits (note 4) .......... -- -- -- -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ...................... -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ..................... -- -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............. (26,242) (4,585) -- (24,003) (10,961) -- (465,958) (226,241) --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Net equity transactions ..... 1,952,060 103,472 -- (278,161) 267,522 -- 5,578,268 5,978,399 --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Net change in contract owners' equity 1,690,879 104,008 -- (198,815) 315,050 -- 7,583,572 6,790,451 --
Contract owners' equity
beginning of period .............. 104,008 -- -- 315,050 -- -- 6,790,451 -- --
----------- ------- ---- ------- ------- ----- ---------- --------- ----
Contract owners' equity end of period $ 1,794,887 104,008 -- 116,235 315,050 -- 14,374,023 6,790,451 --
=========== ======= ==== ======= ======= ===== ========== ========= ====
</TABLE>
8
<PAGE> 8
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
DryCapAp DryGrInc FidVIPEI
----------------------------- ------------------------ -----------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
------------ --------- ---- -------- -------- ---- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............. $ 65,571 17,678 -- 2,658 1,650 -- 47,473 -- --
Mortality and expense charges
(note 3) ...................... (50,548) (8,408) -- (2,473) (866) -- (17,689) (7,345) --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Net investment activity ....... 15,023 9,270 -- 185 784 -- 29,784 (7,345) --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Proceeds from mutual fund
shares sold ................... 2,170,840 56,858 -- 258,487 5,500 -- 2,069,120 873,277 --
Cost of mutual funds sold ........ (1,803,486) (58,027) -- (221,590) (6,178) -- (1,874,177) (900,730) --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Realized gain (loss)
on investments .............. 367,354 (1,169) -- 36,897 (678) -- 194,943 (27,453) --
Change in unrealized gain (loss)
on investments ................ 295,554 351,157 -- 10,416 36,799 -- (146,379) 290,670 --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Net gain (loss) on investments 662,908 349,988 -- 47,313 36,121 -- 48,564 263,217 --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Reinvested capital gains ......... 44,050 2 -- 11,459 96 -- 104,940 -- --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Net change in contract
owners' equity resulting
from operations .......... 721,981 359,260 -- 58,957 37,001 -- 183,288 255,872 --
------------ --------- ---- -------- -------- ---- --------- --------- -----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............... 474,775 1,389,597 -- 150,957 339,972 -- 1,092,111 1,561,165 --
Transfers between funds .......... 7,806,115 1,576,343 -- (169,895) (1,551) -- (1,815,409) 1,354,321 --
Surrenders ....................... -- -- -- -- -- -- -- -- --
Death benefits (note 4) .......... -- -- -- -- -- -- -- (3,754) --
Policy loans (net of repayments)
(note 5) ...................... -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ..................... -- -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............. (335,284) (55,062) -- (24,688) (12,302) -- (122,693) (77,610) --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Net equity transactions ..... 7,945,606 2,910,878 -- (43,626) 326,119 -- (845,991) 2,834,122 --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Net change in contract owners' equity 8,667,587 3,270,138 -- 15,331 363,120 -- (662,703) 3,089,994 --
Contract owners' equity
beginning of period .............. 3,270,138 -- -- 363,120 -- -- 3,089,994 -- --
------------ --------- ---- -------- -------- ---- --------- --------- -----
Contract owners' equity end of period $ 11,937,725 3,270,138 -- 378,451 363,120 -- 2,427,291 3,089,994 --
============ ========= ==== ======== ======== ==== ========= ========= =====
</TABLE>
(Continued)
9
<PAGE> 9
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
FidVIPGr FidVIPHI FidVIPOv
----------------------------- ------------------------------ -------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
----------- -------- ------ --------- ------- ---- --------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 367 217 249 46,952 -- -- 13,167 -- --
Mortality and expense charges
(note 3) ........................ (5,323) (827) (65) (5,745) (1,101) -- (6,984) (2,118) --
----------- -------- ------ --------- ------- --- --------- ------- ----
Net investment activity ......... (4,956) (610) 184 41,207 (1,101) -- 6,183 (2,118) --
----------- -------- ------ --------- ------- --- --------- ------- ----
Proceeds from mutual fund
shares sold ..................... 807,316 40,958 9,806 803,286 1,614,239 -- 471,599 8,873 --
Cost of mutual funds sold .......... (698,481) (28,248) (6,287) (787,262) (1,742,660) -- (425,114) (9,390) --
----------- -------- ------ --------- ------- --- --------- ------- ----
Realized gain (loss)
on investments ................ 108,835 12,710 3,519 16,024 (128,421) -- 46,485 (517) --
Change in unrealized gain (loss)
on investments .................. 235,430 18,980 3,665 (22,830) 21,509 -- 367,565 43,345 --
----------- -------- ------ --------- ------- --- --------- ------- ----
Net gain (loss) on investments .. 344,265 31,690 7,184 (6,806) (106,912) -- 414,050 42,828 --
----------- -------- ------ --------- ------- --- --------- ------- ----
Reinvested capital gains ........... 23,057 5,679 1,112 1,755 -- -- 21,237 -- --
----------- -------- ------ --------- ------- --- --------- ------- ----
Net change in contract
owners' equity resulting
from operations ............ 362,366 36,759 8,480 36,156 (108,013) -- 441,470 40,710 --
----------- -------- ------ --------- ------- --- --------- ------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 694,339 90,635 3,392 757,509 371,525 -- 184,473 555,121 --
Transfers between funds ............ 686,483 31,354 (117) 144,079 209,922 -- (9,242) 249,878 --
Surrenders ......................... (34,268) -- (10,177) (36,906) -- -- -- -- --
Death benefits (note 4) ............ -- -- -- -- (3,869) -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ (2,372) 546 3,798 -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... (30) -- (1,911) (33) -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (37,486) (9,764) (1,302) (43,657) (22,819) -- (38,401) (14,893) --
----------- -------- ------ --------- ------- --- --------- ------- ----
Net equity transactions ....... 1,306,666 112,771 (6,317) 820,992 554,759 -- 136,830 790,106 --
----------- -------- ------ --------- ------- --- --------- ------- ----
Net change in contract owners' equity. 1,669,032 149,530 2,163 857,148 446,746 -- 578,300 830,816 --
Contract owners' equity
beginning of period ................ 192,030 42,500 40,337 446,746 -- -- 830,816 -- --
----------- -------- ------ --------- ------- --- --------- ------- ----
Contract owners' equity end of period. $ 1,861,062 192,030 42,500 1,303,894 446,746 -- 1,409,116 830,816 --
=========== ======== ====== ========= ======= === ========= ======= ====
</TABLE>
10
<PAGE> 10
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
FidVIPAM FidVIPCon
-------------------------------- ------------------------------
1999 1998 1997 1999 1998 1997
----------- --------- ---- -------- -------- -----
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 135,270 -- -- 1,715 -- --
Mortality and expense charges
(note 3) ........................ (37,937) (9,891) -- (4,153) (834) --
----------- --------- ---- ------------------------------
Net investment activity ......... 97,333 (9,891) -- (2,438) (834) --
----------- --------- ---- ------------------------------
Proceeds from mutual fund
shares sold ..................... 1,068,648 163,186 -- 585,641 11,580 --
Cost of mutual funds sold .......... (1,054,965) (167,191) -- (498,073) (11,300) --
----------- --------- ---- ------------------------------
Realized gain (loss)
on investments ................ 13,683 (4,005) -- 87,568 280 --
Change in unrealized gain (loss)
on investments .................. 375,064 295,169 -- 77,538 44,475 --
----------- --------- ---- ------------------------------
Net gain (loss) on investments .. 388,747 291,164 -- 165,106 44,755 --
----------- --------- ---- ------------------------------
Reinvested capital gains ........... 171,342 -- -- 12,574 -- --
----------- --------- ---- ------------------------------
Net change in contract
owners' equity resulting
from operations ............ 657,422 281,273 -- 175,242 43,921 --
----------- --------- ---- ------------------------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 730,093 1,469,777 -- 356,418 227,675 --
Transfers between funds ............ 3,357,493 2,083,152 -- 333,223 54,742 --
Surrenders ......................... -- -- -- (20,198) -- --
Death benefits (note 4) ............ -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- -- (18) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (253,196) (82,694) -- (31,743) (8,890) --
----------- --------- ---- ------------------------------
Net equity transactions ....... 3,834,390 3,470,235 -- 637,682 273,527 --
----------- --------- ---- ------------------------------
Net change in contract owners' equity. 4,491,812 3,751,508 -- 812,924 317,448 --
Contract owners' equity
beginning of period ................ 3,751,508 -- -- 317,448 -- --
----------- --------- ---- ------------------------------
Contract owners' equity end of period. $ 8,243,320 3,751,508 -- 1,130,372 317,448 --
=========== ========= ==== ========= ======= ======
</TABLE>
<TABLE>
<CAPTION>
FidVIPGrOp
--------------------------------
1999 1998 1997
----------- --------- ----
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 19,957 -- --
Mortality and expense charges
(note 3) ........................ (9,542) (4,084) --
----------- --------- ----
Net investment activity ......... 10,415 (4,084) --
----------- --------- ----
Proceeds from mutual fund
shares sold ..................... 1,576,669 8,736 --
Cost of mutual funds sold .......... (1,383,912) (8,768) --
----------- --------- ----
Realized gain (loss)
on investments ................ 192,757 (32) --
Change in unrealized gain (loss)
on investments .................. (162,857) 217,085 --
----------- --------- ----
Net gain (loss) on investments .. 29,900 217,053 --
----------- --------- ----
Reinvested capital gains ........... 37,311 -- --
----------- --------- ----
Net change in contract
owners' equity resulting
from operations ............ 77,626 212,969 --
----------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 313,176 496,204 --
Transfers between funds ............ (568,944) 1,030,094 --
Surrenders ......................... (19,041) -- --
Death benefits (note 4) ............ -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- --
Deductions for surrender charges
(note 2d) ....................... (17) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (58,419) (26,971) --
----------- --------- ----
Net equity transactions ....... (333,245) 1,499,327 --
----------- --------- ----
Net change in contract owners' equity. (255,619) 1,712,296 --
Contract owners' equity
beginning of period ................ 1,712,296 -- --
----------- --------- ----
Contract owners' equity end of period. $1,456,677 1,712,296 --
=========== ========= ====
</TABLE>
(Continued)
11
<PAGE> 11
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
MSEmMkt NSATCapAp
---------------------------------- -------------------------------------
1999 1998 1997 1999 1998 1997
-------- -------- ------ --------- --------- ------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ....................... $ 10,875 4,872 -- 15,503 9,739 37
Mortality and expense charges
(note 3) ................................ (405) (120) -- (14,315) (6,021) (8)
-------- -------- ------ --------- --------- ------
Net investment activity ................. 10,470 4,752 -- 1,188 3,718 29
-------- -------- ------ --------- --------- ------
Proceeds from mutual fund
shares sold ............................. 8,573 6,713 -- 1,356,673 212,711 97
Cost of mutual funds sold .................. (12,762) (7,026) -- (1,229,825) (219,787) (55)
-------- -------- ------ --------- --------- ------
Realized gain (loss)
on investments ........................ (4,189) (313) -- 126,848 (7,076) 42
Change in unrealized gain (loss)
on investments .......................... 12,256 (11,337) -- (201,392) 202,050 472
-------- -------- ------ --------- --------- ------
Net gain (loss) on investments .......... 8,067 (11,650) -- (74,544) 194,974 514
-------- -------- ------ --------- --------- ------
Reinvested capital gains ................... -- -- -- 164,424 62,464 192
-------- -------- ------ --------- --------- ------
Net change in contract
owners' equity resulting
from operations .................... 18,537 (6,898) -- 91,068 261,156 735
-------- -------- ------ --------- --------- ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ......................... 11,947 56,550 -- 941,252 378,599 181
Transfers between funds .................... 19,283 (2,968) -- (626,887) 1,683,884 6,557
Surrenders ................................. -- -- -- -- -- --
Death benefits (note 4) .................... -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ................................ -- -- -- 127 (5,169) 38
Deductions for surrender charges
(note 2d) ............................... -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ....................... (2,618) (1,770) -- (123,973) (72,485) --
-------- -------- ------ --------- --------- ------
Net equity transactions ............... 28,612 51,812 -- 190,519 1,984,829 6,776
-------- -------- ------ --------- --------- ------
Net change in contract owners' equity ........ 47,149 44,914 -- 281,587 2,245,985 7,511
Contract owners' equity
beginning of period ........................ 44,914 -- -- 2,255,024 9,039 1,528
-------- -------- ------ --------- --------- ------
Contract owners' equity end of period......... $ 92,063 44,914 -- 2,536,611 2,255,024 9,039
======== ======== ====== ========= ========= ======
NSATGvtBd
--------------------------------------
1999 1998 1997
--------- --------- ------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ....................... 196,567 37,511 827
Mortality and expense charges
(note 3) ................................ (19,276) (3,182) (25)
--------- --------- ------
Net investment activity ................. 177,291 34,329 802
--------- --------- ------
Proceeds from mutual fund
shares sold ............................. 862,487 1,076,570 7,321
Cost of mutual funds sold .................. (888,607) (1,071,059) (6,800)
--------- --------- ------
Realized gain (loss)
on investments ........................ (26,120) 5,511 521
Change in unrealized gain (loss)
on investments .......................... (209,750) 433 (59)
Net gain (loss) on investments .......... (235,870) 5,944 462
--------- --------- ------
Reinvested capital gains ................... 9,251 5,369 --
--------- --------- ------
Net change in contract
owners' equity resulting
from operations .................... (49,328) 45,642 1,264
--------- --------- ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ......................... 659,788 437,723 2,913
Transfers between funds .................... 3,231,179 685,162 (592)
Surrenders ................................. (5,818) -- (7,742)
Death benefits (note 4) .................... -- (4,142) --
Policy loans (net of repayments)
(note 5) ................................ -- -- 3,686
Deductions for surrender charges
(note 2d) ............................... (5) -- (1,454)
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ....................... (99,940) (50,895) (1,414)
--------- --------- ------
Net equity transactions ............... 3,785,204 1,067,848 (4,603)
--------- --------- ------
Net change in contract owners' equity ........ 3,735,876 1,113,490 (3,339)
Contract owners' equity
beginning of period ........................ 1,127,565 14,075 17,414
--------- --------- ------
Contract owners' equity end of period......... 4,863,441 1,127,565 14,075
========= ========= ======
</TABLE>
12
<PAGE> 12
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
NSATMyMkt NSATSmCapV NSATSmCo
------------------------------------ ---------------------- -------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
------------ ---------- ----- --------- ---- ---- --------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 600,938 504,998 547 -- -- -- -- -- --
Mortality and expense charges
(note 3) ........................ (77,474) (51,084) (9) (6,397) -- -- (4,634) (667) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Net investment activity ......... 523,464 453,914 538 (6,397) -- -- (4,634) (667) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Proceeds from mutual fund
shares sold ..................... 32,567,550 26,194,791 11,959 35,459 -- -- 112,644 541,453 --
Cost of mutual funds sold .......... (32,567,550) (26,194,791) (11,959) (35,445) -- -- (99,242) (577,428) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Realized gain (loss)
on investments ................ -- -- -- 14 -- -- 13,402 (35,975) --
Change in unrealized gain (loss)
on investments .................. -- -- -- (186,972) -- -- 354,570 13,257 --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Net gain (loss) on investments .. -- -- -- (186,958) -- -- 367,972 (22,718) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Reinvested capital gains ........... -- -- -- 319,121 -- -- 59,588 -- --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Net change in contract
owners' equity resulting
from operations ............ 523,464 453,914 538 125,766 -- -- 422,926 (23,385) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 21,641,752 31,739,658 482 64,122 -- -- 87,151 64,219 --
Transfers between funds ............ (28,428,363) (20,876,682) (10,338) 2,075,006 -- -- 846,022 179,980 --
Surrenders ......................... (1,702,126) (18,421) -- -- -- -- -- -- --
Death benefits (note 4) ............ -- -- -- -- -- -- -- (2,309) --
Policy loans (net of repayments)
(note 5) ........................ -- -- 2,385 -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... (1,512) -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (503,747) (826,847) (2,144) (22,728) -- -- (21,028) (10,293) --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Net equity transactions ....... (8,993,996) 10,017,708 (9,615) 2,116,400 -- -- 912,145 231,597 --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Net change in contract owners' equity. (8,470,532) 10,471,622 (9,077) 2,242,166 -- -- 1,335,071 208,212 --
Contract owners' equity
beginning of period ................ 10,472,744 1,122 10,199 -- -- -- 208,212 -- --
------------ ---------- ----- --------- ---- ---- --------- ------- ----
Contract owners' equity end of period. $ 2,002,212 10,472,744 1,122 2,242,166 -- -- 1,543,283 208,212 --
============ ========== ===== ========= ==== ==== ========= ======= ====
</TABLE>
(Continued)
13
<PAGE> 13
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
NSATTotRe NBAMTBal
-------------------------------------- ---------------------------------
1999 1998 1997 1999 1998 1997
---------- ------- ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 2,824 1,289 213 213 266 175
Mortality and expense charges
(note 3) ........................ (2,352) (663) (25) (105) (101) (18)
---------- ------- ------ ------ ------ ------
Net investment activity ......... 472 626 188 108 165 157
---------- ------- ------ ------ ------ ------
Proceeds from mutual fund
shares sold ..................... 93,963 899,768 955 895 746 3,184
Cost of mutual funds sold .......... (85,579) (917,792) (635) (799) (705) (2,780)
---------- ------- ------ ------ ------ ------
Realized gain (loss)
on investments ................ 8,384 (18,024) 320 96 41 404
Change in unrealized gain (loss)
on investments .................. (2,352) 4,285 2,249 3,758 (667) 833
---------- ------- ------ ------ ------ ------
Net gain (loss) on investments .. 6,032 (13,739) 2,569 3,854 (626) 1,237
---------- ------- ------ ------ ------ ------
Reinvested capital gains ........... 20,383 7,210 642 316 1,868 450
---------- ------- ------ ------ ------ ------
Net change in contract
owners' equity resulting
from operations ............ 26,887 (5,903) 3,399 4,278 1,407 1,844
---------- ------- ------ ------ ------ ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 191,756 53,247 3,373 1,603 962 1,682
Transfers between funds ............ 184,421 140,892 5,847 -- -- (1,357)
Surrenders ......................... -- -- -- -- -- (5,156)
Death benefits (note 4) ............ -- (3,805) -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ 149 (4,918) 10 1 -- 3,703
Deductions for surrender charges
(note 2d) ....................... -- -- -- -- -- (969)
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (19,807) (14,505) (3,914) (1,104) (702) (161)
---------- ------- ------ ------ ------ ------
Net equity transactions ....... 356,519 170,911 5,316 500 260 (2,258)
---------- ------- ------ ------ ------ ------
Net change in contract owners' equity. 383,406 165,008 8,715 4,778 1,667 (414)
Contract owners' equity
beginning of period ................ 185,223 20,215 11,500 12,753 11,086 11,500
---------- ------- ------ ------ ------ ------
Contract owners' equity end of period. $ 568,629 185,223 20,215 17,531 12,753 11,086
========== ======= ====== ====== ====== ======
NBAMTGro
---------------------------
1999 1998 1997
--------- ------ ----
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... -- -- --
Mortality and expense charges
(note 3) ........................ (9,391) (213) --
--------- ------ ----
Net investment activity ......... (9,391) (213) --
--------- ------ ----
Proceeds from mutual fund
shares sold ..................... 110,523 451,671 --
Cost of mutual funds sold .......... (94,740) (589,586) --
--------- ------ ----
Realized gain (loss)
on investments ................ 15,783 (137,915) --
Change in unrealized gain (loss)
on investments .................. 1,286,265 14,568 --
--------- ------ ----
Net gain (loss) on investments .. 1,302,048 (123,347) --
--------- ------ ----
Reinvested capital gains ........... 6,121 -- --
--------- ------ ----
Net change in contract
owners' equity resulting
from operations ............ 1,298,778 (123,560) --
--------- ------ ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 143,803 179,067 --
Transfers between funds ............ 2,534,470 39,299 --
Surrenders ......................... -- -- --
Death benefits (note 4) ............ -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (49,243) (6,812) --
--------- ------ ----
Net equity transactions ....... 2,629,030 211,554 --
--------- ------ ----
Net change in contract owners' equity. 3,927,808 87,994 --
Contract owners' equity
beginning of period ................ 87,994 -- --
--------- ------ ----
Contract owners' equity end of period. 4,015,802 87,994 --
========= ====== ====
</TABLE>
14
<PAGE> 14
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
NBAMTGuard NBAMTLMat NBAMTPart
----------------------- ----------------------------- -----------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
---------- ---- ---- --------- --------- ---- --------- --------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 11 -- -- 131,900 -- -- 35,979 96 --
Mortality and expense charges
(note 3) ........................ (49) -- -- (23,583) (6,625) -- (22,411) (7,845) --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Net investment activity ......... (38) -- -- 108,317 (6,625) -- 13,568 (7,749) --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Proceeds from mutual fund
shares sold ..................... 96,827 -- -- 503,526 600,881 -- 2,594,674 502,461 --
Cost of mutual funds sold .......... (94,341) -- -- (511,042) (594,456) -- (2,433,926) (576,869) --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Realized gain (loss)
on investments ................ 2,486 -- -- (7,516) 6,425 -- 160,748 (74,408) --
Change in unrealized gain (loss)
on investments .................. 222 -- -- (66,054) 37,857 -- (54,411) 150,166 --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Net gain (loss) on investments .. 2,708 -- -- (73,570) 44,282 -- 106,337 75,758 --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Reinvested capital gains ........... -- -- -- -- -- -- 62,571 3,026 --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Net change in contract
owners' equity resulting
from operations ............ 2,670 -- -- 34,747 37,657 -- 182,476 71,035 --
---------- ---- ---- --------- --------- ---- --------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 94,073 -- -- 1,274,019 1,297,068 -- 862,570 167,059 --
Transfers between funds ............ (82,703) -- -- 1,902,713 777,381 -- 200,005 2,868,038 --
Surrenders ......................... (3,047) -- -- (36,301) -- -- -- -- --
Death benefits (note 4) ............ -- -- -- -- -- -- -- (1,910) --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... (3) -- -- (32) -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (292) -- -- (185,788) (90,472) -- (102,438) (58,438) --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Net equity transactions ....... 8,028 -- -- 2,954,611 1,983,977 -- 960,137 2,974,749 --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Net change in contract owners' equity. 10,698 -- -- 2,989,358 2,021,634 -- 1,142,613 3,045,784 --
Contract owners' equity
beginning of period ................ -- -- -- 2,021,634 -- -- 3,045,784 -- --
---------- ---- ---- --------- --------- ---- --------- --------- ----
Contract owners' equity end of period. $ 10,698 -- -- 5,010,992 2,021,634 -- 4,188,397 3,045,784 --
========== ==== ==== ========= ========= ==== ========= ========= ====
</TABLE>
(Continued)
15
<PAGE> 15
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
OppBdFd OppGlSec
-------------------------------- ------------------------------
1999 1998 1997 1999 1998 1997
----------- ------- ---- --------- --------- ----
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 26,045 322 -- 26,885 307 --
Mortality and expense charges
(note 3) ........................ (4,409) (1,236) -- (7,996) (5,205) --
----------- ------- ---- --------- --------- ----
Net investment activity ......... 21,636 (914) -- 18,889 (4,898) --
----------- ------- ---- --------- --------- ----
Proceeds from mutual fund
shares sold ..................... 731,543 9,221 -- 2,708,659 6,335 --
Cost of mutual funds sold .......... (761,185) (9,205) -- (2,479,501) (7,203) --
----------- ------- ---- --------- --------- ----
Realized gain (loss)
on investments ................ (29,642) 16 -- 229,158 (868) --
Change in unrealized gain (loss)
on investments .................. (9,806) 8,173 -- 187,521 124,381 --
----------- ------- ---- --------- --------- ----
Net gain (loss) on investments .. (39,448) 8,189 -- 416,679 123,513 --
----------- ------- ---- --------- --------- ----
Reinvested capital gains ........... 2,501 291 -- 75,339 1,156 --
----------- ------- ---- --------- --------- ----
Net change in contract
owners' equity resulting
from operations ............ (15,311) 7,566 -- 510,907 119,771 --
----------- ------- ---- --------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 315,191 478,200 -- 283,877 735 --
Transfers between funds ............ 262,522 37,657 -- (1,651,931) 2,090,084 --
Surrenders ......................... -- -- -- (46,603) -- --
Death benefits (note 4) ............ -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- -- (41) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (42,010) (18,327) -- (38,534) (14,493) --
----------- ------- ---- --------- --------- ----
Net equity transactions ....... 535,703 497,530 -- (1,453,232) 2,076,326 --
----------- ------- ---- --------- --------- ----
Net change in contract owners' equity. 520,392 505,096 -- (942,325) 2,196,097 --
Contract owners' equity
beginning of period ................ 505,096 -- -- 2,196,097 -- --
----------- ------- ---- --------- --------- ----
Contract owners' equity end of period. $ 1,025,488 505,096 -- 1,253,772 2,196,097 --
=========== ======= ==== ========= ========= ====
OppGro
------------------------------
1999 1998 1997
--------- -------- ---
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... 850 100 --
Mortality and expense charges
(note 3) ........................ (8,547) (463) --
--------- -------- ---
Net investment activity ......... (7,697) (363) --
--------- -------- ---
Proceeds from mutual fund
shares sold ..................... 635,041 11,617 --
Cost of mutual funds sold .......... (528,498) (12,143) --
--------- -------- ---
Realized gain (loss)
on investments ................ 106,543 (526) --
Change in unrealized gain (loss)
on investments .................. 519,569 23,432 --
--------- -------- ---
Net gain (loss) on investments .. 626,112 22,906 --
--------- -------- ---
Reinvested capital gains ........... 9,340 1,201 --
--------- -------- ---
Net change in contract
owners' equity resulting
from operations ............ 627,755 23,744 --
--------- -------- ---
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 301,020 132,607 --
Transfers between funds ............ 1,809,925 29,263 --
Surrenders ......................... (42,848) -- --
Death benefits (note 4) ............ -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- --
Deductions for surrender charges
(note 2d) ....................... (38) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (53,902) (7,839) --
--------- -------- ---
Net equity transactions ....... 2,014,157 154,031 --
--------- -------- ---
Net change in contract owners' equity. 2,641,912 177,775 --
Contract owners' equity
beginning of period ................ 177,775 -- --
--------- -------- ---
Contract owners' equity end of period. 2,819,687 177,775 --
========= ======== ===
</TABLE>
16
<PAGE> 16
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
OppMult StOpp2
------------------------------ -----------------------------
1999 1998 1997 1999 1998 1997
---------- ------ ---- --------- --------- ----
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 8,514 -- -- -- 5,700 --
Mortality and expense charges
(note 3) ........................ (560) (219) -- (23,329) (6,774) --
---------- ------ ---- --------- --------- ----
Net investment activity ......... 7,954 (219) -- (23,329) (1,074) --
---------- ------ ---- --------- --------- ----
Proceeds from mutual fund
shares sold ..................... 290,794 10,181 -- 2,249,012 20,340 --
Cost of mutual funds sold .......... (291,914) (10,741) -- (1,989,388) (24,221) --
---------- ------ ---- --------- --------- ----
Realized gain (loss)
on investments ................ (1,120) (560) -- 259,624 (3,881) --
Change in unrealized gain (loss)
on investments .................. (2,198) 2,201 -- 481,583 274,510 --
---------- ------ ---- --------- --------- ----
Net gain (loss) on investments .. (3,318) 1,641 -- 741,207 270,629 --
---------- ------ ---- --------- --------- ----
Reinvested capital gains ........... 12,316 -- -- 398,233 3,397 --
---------- ------ ---- --------- --------- ----
Net change in contract
owners' equity resulting
from operations ............ 16,952 1,422 -- 1,116,111 272,952 --
---------- ------ ---- --------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 68,158 11,946 -- 1,453,381 867,064 --
Transfers between funds ............ (158,215) 68,612 -- (346,567) 1,764,409 --
Surrenders ......................... -- -- -- (58,951) -- --
Death benefits (note 4) ............ -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- -- (52) -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (6,024) (2,851) -- (133,131) (52,214) --
---------- ------ ---- --------- --------- ----
Net equity transactions ....... (96,081) 77,707 -- 914,680 2,579,259 --
---------- ------ ---- --------- --------- ----
Net change in contract owners' equity. (79,129) 79,129 -- 2,030,791 2,852,211 --
Contract owners' equity
beginning of period ................ 79,129 -- -- 2,852,211 -- --
---------- ------ ---- --------- --------- ----
Contract owners' equity end of period. $ -- 79,129 -- 4,883,002 2,852,211 --
========== ====== ==== ========= ========= ====
StDisc2
---------------------------
1999 1998 1997
------ ----- ----
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... -- -- --
Mortality and expense charges
(note 3) ........................ -- (11) --
------ ----- ----
Net investment activity ......... -- (11) --
------ ----- ----
Proceeds from mutual fund
shares sold ..................... 7,564 96 --
Cost of mutual funds sold .......... (7,336) (92) --
------ ----- ----
Realized gain (loss)
on investments ................ 228 4 --
Change in unrealized gain (loss)
on investments .................. (708) 708 --
------ ----- ----
Net gain (loss) on investments .. (480) 712 --
------ ----- ----
Reinvested capital gains ........... -- -- --
------ ----- ----
Net change in contract
owners' equity resulting
from operations ............ (480) 701 --
------ ----- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 3,406 3,013 --
Transfers between funds ............ (7,577) 1,244 --
Surrenders ......................... -- -- --
Death benefits (note 4) ............ -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (92) (215) --
------ ----- ----
Net equity transactions ....... (4,263) 4,042 --
------ ----- ----
Net change in contract owners' equity. (4,743) 4,743 --
Contract owners' equity
beginning of period ................ 4,743 -- --
------ ----- ----
Contract owners' equity end of period. -- 4,743 --
====== ===== ====
</TABLE>
(Continued)
17
<PAGE> 17
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
StIntStk2 VEWrldBd VEWrldEMkt
---------------------------- ------------------------- --------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
--------- ------ ---- ------ ------ ---- ------- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 303 94 -- -- -- -- -- -- --
Mortality and expense charges
(note 3) ........................ (1,056) (138) -- (62) -- -- (192) -- --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Net investment activity ......... (753) (44) -- (62) -- -- (192) -- --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Proceeds from mutual fund
shares sold ..................... 58,412 2,255 -- 17,176 635,332 -- 159 214,660 --
Cost of mutual funds sold .......... (42,860) (2,481) -- (17,805) (637,007) -- (140) (233,229) --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Realized gain (loss)
on investments ................ 15,552 (226) -- (629) (1,675) -- 19 (18,569) --
Change in unrealized gain (loss)
on investments .................. 213,980 (2,215) -- 1 -- -- 82,054 -- --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Net gain (loss) on investments .. 229,532 (2,441) -- (628) (1,675) -- 82,073 (18,569) --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Reinvested capital gains ........... -- -- -- -- -- -- -- -- --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Net change in contract
owners' equity resulting
from operations ............ 228,779 (2,485) -- (690) (1,675) -- 81,881 (18,569) --
--------- ------ ---- ------ ------ ---- ------- ---- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 49,017 58,646 -- 10,054 2,790 -- 2,247 849 --
Transfers between funds ............ 593,187 (1,770) -- (7,451) 5,627 -- 382,171 25,876 --
Surrenders ......................... -- -- -- -- -- -- -- -- --
Death benefits (note 4) ............ -- -- -- -- (2,734) -- -- (889) --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (5,151) (1,997) -- (624) (4,008) -- -- (7,267) --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Net equity transactions ....... 637,053 54,879 -- 1,979 1,675 -- 384,418 18,569 --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Net change in contract owners' equity. 865,832 52,394 -- 1,289 -- -- 466,299 -- --
Contract owners' equity
beginning of period ................ 52,394 -- -- -- -- -- -- -- --
--------- ------ ---- ------ ------ ---- ------- ---- ----
Contract owners' equity end of period. $ 918,226 52,394 -- 1,289 -- -- 466,299 -- --
========= ====== ==== ====== ====== ==== ======= ==== ====
</TABLE>
18
<PAGE> 18
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
VKMSRESec WPIntEq WPPVenCap
---------------------------- -------------------------- --------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
--------- ------- ---- ------- ------- ---- ------ ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ 22,119 31 -- 6,312 597 -- -- -- --
Mortality and expense charges
(note 3) ........................ (1,610) (673) -- (1,201) (322) -- (235) (150) --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Net investment activity ......... 20,509 (642) -- 5,111 275 -- (235) (150) --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Proceeds from mutual fund
shares sold ..................... 260,988 9,973 -- 253,619 6,992 -- 90,443 1,920 --
Cost of mutual funds sold .......... (267,305) (11,122) -- (232,082) (7,479) -- (77,024) (2,142) --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Realized gain (loss)
on investments ................ (6,317) (1,149) -- 21,537 (487) -- 13,419 (222) --
Change in unrealized gain (loss)
on investments .................. (8,648) (1,009) -- 110,250 (1,416) -- (6,201) 6,202 --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Net gain (loss) on investments .. (14,965) (2,158) -- 131,787 (1,903) -- 7,218 5,980 --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Reinvested capital gains ........... -- 306 -- -- -- -- -- -- --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Net change in contract
owners' equity resulting
from operations ............ 5,544 (2,494) -- 136,898 (1,628) -- 6,983 5,830 --
--------- ------- ---- ------- ------- ---- ------ ------ ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 156,608 274,090 -- 85,550 133,214 -- 11,383 40,664 --
Transfers between funds ............ (208,039) (1,813) -- 392,465 (6,311) -- (75,184) 13,590 --
Surrenders ......................... -- -- -- -- -- -- -- -- --
Death benefits (note 4) ............ -- -- -- -- -- -- -- -- --
Policy loans (net of repayments)
(note 5) ........................ -- -- -- -- -- -- -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- -- -- -- -- -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (14,519) (9,912) -- (8,418) (4,755) -- (1,781) (1,485) --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Net equity transactions ....... (65,950) 262,365 -- 469,597 122,148 -- (65,582) 52,769 --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Net change in contract owners' equity. (60,406) 259,871 -- 606,495 120,520 -- (58,599) 58,599 --
Contract owners' equity
beginning of period ................ 259,871 -- -- 120,520 -- -- 58,599 -- --
--------- ------- ---- ------- ------- ---- ------ ------ ----
Contract owners' equity end of period. $ 199,465 259,871 -- 727,015 120,520 -- -- 58,599 --
========= ======= ==== ======= ======= ==== ====== ====== ====
</TABLE>
(Continued)
19
<PAGE> 19
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, Continued
STATEMENTS OF OPERATIONS, Continued
YEARS ENDED DECEMBER 31, 1999, 1998 and 1997
<TABLE>
<CAPTION>
WPSmCoGr
--------------------------------
1999 1998 1997
----------- --------- ----
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............... $ -- -- --
Mortality and expense charges
(note 3) ........................ (12,964) (3,814) --
----------- --------- ----
Net investment activity ......... (12,964) (3,814) --
----------- --------- ----
Proceeds from mutual fund
shares sold ..................... 486,242 262,623 --
Cost of mutual funds sold .......... (424,025) (306,771) --
----------- --------- ----
Realized gain (loss)
on investments ................ 62,217 (44,148) --
Change in unrealized gain (loss)
on investments .................. 1,318,947 179,022 --
----------- --------- ----
Net gain (loss) on investments .. 1,381,164 134,874 --
----------- --------- ----
Reinvested capital gains ........... 97,160 -- --
----------- --------- ----
Net change in contract
owners' equity resulting
from operations ............ 1,465,360 131,060 --
----------- --------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................. 147,106 873,045 --
Transfers between funds ............ 496,518 535,743 --
Surrenders ......................... -- -- --
Death benefits (note 4) ............ -- (1,107) --
Policy loans (net of repayments)
(note 5) ........................ -- -- --
Deductions for surrender charges
(note 2d) ....................... -- -- --
Redemptions to pay cost of
insurance charges and
administrative charges
(notes 2b and 2c) ............... (65,602) (22,666) --
----------- --------- ----
Net equity transactions ....... 578,022 1,385,015 --
----------- --------- ----
Net change in contract owners' equity. 2,043,382 1,516,075 --
Contract owners' equity
beginning of period ................ 1,516,075 -- --
----------- --------- ----
Contract owners' equity end of period. $ 3,559,457 1,516,075 --
=========== ========= ====
</TABLE>
See accompanying notes to financial statements.
20
<PAGE> 20
NATIONWIDE VL SEPARATE ACCOUNT-A
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1999, 1998 AND 1997
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Organization and Nature of Operations
Nationwide VL Separate Account-A (the Account) was established
pursuant to a resolution of the Board of Directors of Nationwide Life
and Annuity Insurance Company (the Company) on August 8, 1984. The
Account has been registered as a unit investment trust under the
Investment Company Act of 1940.
The Company offers Single Premium, Multiple Payment, Flexible Premium
and Corporate Flexible Premium Variable Life Insurance Policies
through the Account. The primary distribution for the contracts is
through banks and other financial institutions; however, other
distributors may be utilized.
(b) The Contracts
Only contracts with a front-end sales charge, a contingent deferred
sales charge and certain other fees, have been offered for purchase.
Additionally, contracts without a front-end sales charge, but with a
contingent deferred sales charge and certain other fees, have been
offered for purchase. See note 2 for a discussion of policy charges
and note 3 for asset charges.
Contract owners may invest in the following:
Portfolios of the American Century Variable Portfolios, Inc. (American
Century VP);
American Century VP - American Century VP Advantage (ACVPAdv)
American Century VP - American Century VP Balanced (ACVPBal)
American Century VP - American Century VP Capital Appreciation
(ACVPCapAp)
American Century VP - American Century VP Income & Growth
(ACVPIncGr)
American Century VP - American Century VP International (ACVPInt)
American Century VP - American Century VP Value (ACVPValue)
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
Dreyfus Stock Index Fund (DryStkIx)
Portfolios of the Dreyfus Variable Investment Fund (Dreyfus VIF);
Dreyfus VIF - Capital Appreciation Portfolio (DryCapAp)
Dreyfus VIF - Growth and Income Portfolio (DryGrInc)
Portfolios of the Fidelity Variable Insurance Products Fund (Fidelity
VIP);
Fidelity VIP - Equity-Income Portfolio (FidVIPEI)
Fidelity VIP - Growth Portfolio (FidVIPGr)
Fidelity VIP - High Income Portfolio (FidVIPHI)
Fidelity VIP - Overseas Portfolio (FidVIPOv)
Portfolios of the Fidelity Variable Insurance Products Fund II
(Fidelity VIP-II);
Fidelity VIP-II - Asset Manager Portfolio (FidVIPAM)
Fidelity VIP-II - Contrafund Portfolio (FidVIPCon)
Portfolios of the Fidelity Variable Insurance Products Fund III
(Fidelity VIP-III);
Fidelity VIP-III - Growth Opportunities Portfolio (FidVIPGrOp)
Portfolio of the Morgan Stanley Universal Funds, Inc. (Morgan
Stanley);
Morgan Stanley - Emerging Markets Debt Portfolio (MSEmMkt)
(Continued)
21
<PAGE> 21
NATIONWIDE VL SEPARATE ACCOUNT-A
NOTES TO FINANCIAL STATEMENTS, CONTINUED
Funds of the Nationwide Separate Account Trust (Nationwide SAT)
(managed for a fee by an affiliated investment advisor);
Nationwide SAT - Capital Appreciation Fund (NSATCapAp)
Nationwide SAT - Government Bond Fund (NSATGvtBd)
Nationwide SAT - Money Market Fund (NSATMyMkt)
Nationwide SAT - Small Cap Value Fund (NSATSmCapV)
Nationwide SAT - Small Company Fund (NSATSmCo)
Nationwide SAT - Total Return Fund (NSATTotRe)
Portfolios of the Neuberger & Berman Advisers Management Trust
(Neuberger & Berman AMT);
Neuberger & Berman AMT - Balanced Portfolio (NBAMTBal)
Neuberger & Berman AMT - Growth Portfolio (NBAMTGro)
Neuberger & Berman AMT - Guardian Portfolio (NBAMTGuard)
Neuberger & Berman AMT - Limited Maturity Bond (NBAMTLMat)
Neuberger & Berman AMT - Partner's Portfolio (NBAMTPart)
Funds of the Oppenheimer Variable Account Funds (Oppenheimer VAF);
Oppenheimer VAF - Bond Fund (OppBdFd)
Oppenheimer VAF - Global Securities Fund (OppGlSec)
Oppenheimer VAF - Growth Fund (OppGro)
Oppenheimer VAF - Multiple Strategies Fund (OppMult)
Strong Opportunity Fund II, Inc. (StOpp2)
Funds of the Strong Variable Insurance Funds, Inc. (Strong VIF);
Strong VIF - Strong Discovery Fund II (StDisc2)
Strong VIF - Strong International Stock Fund II (StIntStk2)
Funds of the Van Eck Worldwide Insurance Trust (Van Eck WIT);
Van Eck WIT - Worldwide Bond Fund (VEWrldBd)
Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt)
Van Eck WIT - Worldwide Hard Assets Fund (VEWrldHAs)
Portfolio of the Van Kampen Life Investment Trust (Van Kampen LIT);
Van Kampen LIT - Morgan Stanley Real Estate Securities
Portfolio (VKMSRESec)
Portfolios of the Warburg Pincus Trust;
Warburg Pincus Trust - International Equity Portfolio (WPIntEq)
Warburg Pincus Trust - Post Venture Capital Portfolio
(WPPVenCap)
Warburg Pincus Trust - Small Company Growth Portfolio (WPSmCoGr)
At December 31, 1999, policy owners have invested in all of the above
funds except for Strong VIF - Strong Discovery Fund II, Van Eck WIT -
Worldwide Hard Assets Fund, and Warburg Pincus Trust - Post Venture
Capital Portfolio. The contract owners' equity is affected by the
investment results of each fund, equity transactions by contract
owners and certain policy charges (see notes 2 and 3). The
accompanying financial statements include only contract owners'
purchase payments pertaining to the variable portions of their
contracts and exclude any purchase payments for fixed dollar
investment options, the latter being included in the accounts of the
Company.
A contract owner may choose from among a number of different
underlying mutual fund options. The underlying mutual fund options are
not available to the general public directly. The underlying mutual
funds are available as investment options in variable life insurance
policies or variable annuity contracts issued by life insurance
companies or, in some cases, through participation in certain
qualified pension or retirement plans.
22
<PAGE> 22
NATIONWIDE VL SEPARATE ACCOUNT-A
NOTES TO FINANCIAL STATEMENTS, CONTINUED
Some of the underlying mutual funds have been established by
investment advisers which manage publicly traded mutual funds having
similar names and investment objectives. While some of the underlying
mutual funds may be similar to, and may in fact be modeled after,
publicly traded mutual funds, the underlying mutual funds are not
otherwise directly related to any publicly traded mutual fund.
Consequently, the investment performance of publicly traded mutual
funds and any corresponding underlying mutual funds may differ
substantially.
(c) Security Valuation, Transactions and Related Investment Income
The market value of the underlying mutual funds is based on the
closing net asset value per share at December 31, 1999. The cost of
investments sold is determined on the specific identification basis.
Investment transactions are accounted for on the trade date (date the
order to buy or sell is executed) and dividend income is recorded on
the ex-dividend date.
(d) Federal Income Taxes
Operations of the Account form a part of, and are taxed with,
operations of the Company, which is taxed as a life insurance company
under the Internal Revenue Code.
The Company does not provide for income taxes within the Account.
Taxes are the responsibility of the contract owner upon termination or
withdrawal.
(e) Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with generally
accepted accounting principles may require management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities,
if any, at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.
(2) POLICY CHARGES
(a) Deductions from Premiums
For single premium contracts, no deduction is made from any premium at
the time of payment.
On multiple payment contracts and flexible premium contracts, the
Company deducts a sales charge not to exceed 3.5% of each premium
payment. The Company also deducts a state premium tax charge of 2.5%
of all premiums received.
For corporate flexible premium contracts, the Company deducts a sales
charge never to exceed 5.5% during the first seven policy years and 2%
thereafter. The Company also deducts a tax expense charge not to
exceed 3.5%.
(b) Cost of Insurance
A cost of insurance charge is assessed monthly against each contract
by liquidating units. The amount of the charge is based upon age, sex,
rate class and net amount at risk (death benefit less total contract
value).
(c) Administrative Charges
An administrative charge is assessed against each contract to recover
policy maintenance, accounting, record keeping and other
administrative expenses and is assessed against each contract by
liquidating units.
For multiple payment contracts, the Company currently deducts a
monthly administrative charge of $5 (may deduct up to $7.50, maximum).
For flexible premium contracts, the Company currently deducts a
monthly administrative charge of $12.50 during the first policy year
and $5 per month thereafter (may deduct up to $7.50, maximum).
Additionally, the Company deducts an increase charge of $2.04 per year
per $1,000 applied to any increase in the specified amount during the
first 12 months after the increase becomes effective.
(Continued)
23
<PAGE> 23
NATIONWIDE VL SEPARATE ACCOUNT-A
NOTES TO FINANCIAL STATEMENTS, CONTINUED
For single premium contracts, the Company deducts an annual
administrative charge which is determined as follows:
Purchase payments totaling less than $25,000 - $90/year
Purchase payments totaling $25,000 or more - $50/year
The above charges are assessed against each contract by
liquidating units.
No charges were deducted from the initial funding, or from the
earnings thereon.
For corporate flexible premium contracts, the Company deducts a
monthly administrative charge of $5 on a current basis and $10 on a
guaranteed basis in all policy years.
(d) Surrender Charges
Policy surrenders result in a redemption of the contract value from
the Account and payment of the surrender proceeds to the contract
owner or designee. The surrender proceeds consist of the contract
value, less any outstanding policy loans, and less a surrender charge,
if applicable. The charge is determined according to contract type.
For multiple payment contracts and flexible premium contracts, the
amount charged is determined based upon a specified percentage of the
initial surrender charge, which varies by issue age, sex and rate
class. The charge is 100% of the initial surrender charge in the first
year, declining to 0% after the ninth year.
For single premium contracts, the charge is determined based upon a
specified percentage of the original purchase payment. The charge is
8.5% in the first year, and declines to 0% after the ninth year.
For corporate flexible premium contracts, there are no surrender
charges.
(3) ASSET CHARGES
For multiple payment contracts and flexible premium contracts, the
Company deducts charges from the contract to cover mortality and
expense risk charges related to operations, and to recover policy
maintenance charges. The charge is equal to an annual rate of .80%,
with certain exceptions.
For single premium contracts, the Company deducts a charge from the
contract to cover mortality and expense risk charges related to
operations, and to recover policy maintenance and premium tax charges.
The charge is equal to an annual rate of 1.30% during the first ten
policy years, and 1.00% thereafter. At this time no single premium
contracts are in force.
For corporate flexible premium contracts, the Company deducts a charge
from the contract to cover mortality and expense risk charges related
to operations, and to recover policy maintenance charges. This charge
is guaranteed not to exceed an annual effective rate of .75%. On a
current basis, the annual rate will be .60% during the first through
fourth policy years, .40% during the fifth through twentieth policy
years, and .25% thereafter.
The above charges are assessed through the daily unit value
calculation.
The following table provides mortality and expense risk charges by
contract type for the period ended December 31, 1999:
<TABLE>
<CAPTION>
TOTAL ACVPAdv ACVPBal ACVPCapAp ACVPIncGr
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 797 28 - - -
Corporate Universal
Variable Life ................ 466,930 - 1,866 117 1,162
------------ ------------ ------------ ------------ ------------
Total....................... $ 467,727 28 1,866 117 1,162
============ ============ ============ ============ ============
</TABLE>
24
<PAGE> 24
<TABLE>
<CAPTION>
ACVPInt ACVPValue DrySRGro DryStkix DryCapAp
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 12,097 6,307 2,333 60,870 50,548
------------ ------------ ------------ ------------ ------------
Total....................... $ 12,097 6,307 2,333 60,870 50,548
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
DryGrinc FidVIPEI FidVIPGr FidVIPHI FidVIPOv
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - 430 - -
Corporate Universal
Variable Life ................ 2,473 17,689 4,893 5,745 6,984
------------ ------------ ------------ ------------ ------------
Total....................... $ 2,473 17,689 5,323 5,745 6,984
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FidVIPAM FidVIPcon FidVIPGrOp MSEmMkt NSATCapAp
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - 39
Corporate Universal
Variable Life ................ 37,937 4,153 9,542 405 14,276
------------ ------------ ------------ ------------ ------------
Total....................... $ 37,937 4,153 9,542 405 14,315
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATGvtBd NSATMyMkt NSATSmCapv NSATSmCo NSATTotRe
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 63 4 - - 128
Corporate Universal
Variable Life ................ 19,213 77,470 6,397 4,634 2,224
------------ ------------ ------------ ------------ ------------
Total....................... $ 19,276 77,474 6,397 4,634 2,352
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NBAMTBal NBAMTGro NBAMTGuard NBAMTLMat NBAMTPart
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 105 - - - -
Corporate Universal
Variable Life ................ - 9,391 49 23,583 22,411
------------ ------------ ------------ ------------ ------------
Total....................... $ 105 9,391 49 23,583 22,411
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
OppBdFd OppGISec OppGro OppMult StOpp2
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 4,409 7,996 8,547 560 23,329
------------ ------------ ------------ ------------ ------------
Total....................... $ 4,409 7,996 8,547 560 23,329
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
StintStk2 VEWrldBd VEWrldEMkt VKMSRESec WPIntEq
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 1,056 192 62 1,610 1,201
------------ ------------ ------------ ------------ ------------
Total....................... $ 1,056 192 62 1,610 1,201
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
WPPVenCap WPSMCoGr
------------ ------------
<S> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - -
Corporate Universal
Variable Life ................ 235 12,964
------------ ------------
Total....................... $ 235 12,964
============ ============
</TABLE>
(Continued)
25
<PAGE> 25
NATIONWIDE VL SEPARATE ACCOUNT-A
NOTES TO FINANCIAL STATEMENTS, CONTINUED
The following table provides mortality and expense risk charges by
contract type for the period ended December 31, 1998:
<TABLE>
<CAPTION>
TOTAL ACVPAdv ACVPBal ACVPCapAp ACVPInt
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 865 71 - - -
Corporate Universal
Variable Life ................ 150,929 - 923 422 134
------------ ------------ ------------ ------------ ------------
Total....................... $ 151,794 71 923 422 134
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
ACVPValue DrySRGro DryStkix DryCapAp DryGrinc
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 294 754 18,196 8,408 866
------------ ------------ ------------ ------------ ------------
Total....................... $ 294 754 18,196 8,408 866
============ ============ ============ ============ ============
</TABLE>
[CAPTION]
<TABLE>
FidVIPEI FidVIPGr FidVIPHI FidVIPOv FidVIPAM
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - 420 - - -
Corporate Universal
Variable Life ................ 7,345 407 1,101 2,118 9,891
------------ ------------ ------------ ------------ ------------
Total....................... $ 7,345 827 1,101 2,118 9,891
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FidVIPCon FidVIPGrOp MSEmMkt NSATCapAp NSATGvtBd
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - 40 95
Corporate Universal
Variable Life ................ 834 4,084 120 5,981 3,087
------------ ------------ ------------ ------------ ------------
Total....................... $ 834 4,084 120 6,021 3,182
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATMyMkt NSATSmCo NSATTotRe NBAMTBal NBAMTGro
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 8 - 130 101 -
Corporate Universal
Variable Life ................ 51,076 667 533 - 213
------------ ------------ ------------ ------------ ------------
Total....................... $ 51,084 667 663 101 213
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NBAMTLMat NBAMTPart OppBdFd OppGISec OppGro
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 6,625 7,845 1,236 5,205 463
------------ ------------ ------------ ------------ ------------
Total....................... $ 6,625 7,845 1,236 5,205 463
============ ============ ============ ============ ============
</TABLE>
26
<PAGE> 26
<TABLE>
<CAPTION>
OppMult StOpp2 StDisc2 StintStk2 VKMSRESec
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - - - -
Corporate Universal
Variable Life ................ 219 6,774 11 138 673
------------ ------------ ------------ ------------ ------------
Total....................... $ 219 6,774 11 138 673
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
WPintEq WPPVenCap WPSMCoGr
------------ ------------ ------------
<S> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ - - -
Corporate Universal
Variable Life ................ 322 150 3,814
------------ ------------ ------------
Total....................... $ 322 150 3,814
============ ============ ============
</TABLE>
The following table provides mortality, expense and administration charges
by contract type for the period ended December 31, 1997:
<TABLE>
<CAPTION>
TOTAL ACVPAdv FidVIPGr NSATCapAp NSATGvtBd
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 795 645 65 8 25
------------ ------------ ------------ ------------ ------------
Total....................... $ 795 645 65 8 25
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
NSATMyMkt NSATTotRe NBAMTBal
------------ ------------ ------------
<S> <C> <C> <C>
Multiple Payment and
Flexible Premium.............. $ 9 25 18
------------ ------------ ------------
Total....................... $ 9 25 18
============ ============ ============
</TABLE>
(4) DEATH BENEFITS
Death benefit proceeds result in a redemption of the contract value from
the Account and payment of those proceeds, less any outstanding policy
loans (and policy charges), to the legal beneficiary. For last survivor
flexible premium contracts, the proceeds are payable on the death of the
last surviving insured. In the event that the guaranteed death benefit
exceeds the contract value on the date of death, the excess is paid by the
Company's general account.
(5) POLICY LOANS (NET OF REPAYMENTS)
Contract provisions allow contract owners to borrow up to 90% of a policy's
cash surrender value. On each policy anniversary following the initial
loan, interest is due and payable to the Company.
At the time the loan is granted, the amount of the loan is transferred from
the Account to the Company's general account as collateral for the
outstanding loan. Collateral amounts in the general account are credited
with the stated rate of interest in effect at the time the loan is made,
subject to a guaranteed minimum rate. Loan repayments result in a transfer
of collateral, including interest, back to the Account.
(6) RELATED PARTY TRANSACTIONS
The Company performs various services on behalf of the Mutual Fund
Companies in which the Account invests and may receive fees for the
services performed. These services include, among other things, shareholder
communications, preparation, postage, fund transfer agency and various
other record keeping and customer service functions. These fees are paid to
an affiliate of the Company.
27
<PAGE> 27
NATIONWIDE VL SEPARATE ACCOUNT-A
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY, Continued
(7) COMPONENTS OF CONTRACT OWNERS' EQUITY
The following is a summary of Contract Owners' Equity at December 31, 1999:
<TABLE>
<CAPTION>
ANNUAL
Contract owners' equity represented by: UNITS UNIT VALUE RETURN*
------ ---------- --------
<S> <C> <C> <C> <C>
Multiple Payment Contracts and
Flexible Premium Contracts:
American Century VP -
American Century VP Advantage ...................... 60 $ 21.052310 $ 1,263 14%
Fidelity VIP - Growth Portfolio ...................... 1,261 46.242171 58,311 36%
Nationwide SAT -
Capital Appreciation Fund .......................... 165 32.761545 5,406 3%
Nationwide SAT - Government Bond Fund ................ 496 17.516435 8,688 (3)%
Nationwide SAT - Money Market Fund ................... 36 13.853330 499 4%
Nationwide SAT - Total Return Fund ................... 499 35.085217 17,508 6%
Neuberger & Berman - Balanced Portfolio .............. 636 27.565091 17,531 33%
Corporate Variable Universal Life Contracts:
(policy years 1 through 4):
American Century VP -
American Century VP Balanced ....................... 29,491 12.719779 375,119 9%
American Century VP -
American Century VP Capital Appreciation ........... 8,002 14.059550 112,505 64%
American Century VP -
American Century VP Income & Growth ................ 24,465 12.760482 312,185 17%
American Century VP -
American Century VP International .................. 267,865 19.184490 5,138,853 63%
American Century VP -
American Century VP Value .......................... 170,336 10.537331 1,794,887 (1)%
The Dreyfus Socially Responsible
Growth Fund, Inc. .................................. 6,856 16.953796 116,235 29%
Dreyfus Stock Index Fund ............................. 898,839 15.991766 14,374,023 20%
Dreyfus - Capital Appreciation Portfolio ............. 808,332 14.768344 11,937,725 11%
Dreyfus VIF - Growth and Income Portfolio ............ 29,245 12.940713 378,451 16%
Fidelity VIP - Equity-Income Portfolio ............... 198,742 12.213277 2,427,291 6%
Fidelity VIP - Growth Portfolio ...................... 94,119 19.153957 1,802,751 37%
Fidelity VIP - High Income Portfolio ................. 122,886 10.610601 1,303,894 8%
Fidelity VIP - Overseas Portfolio .................... 91,676 15.370612 1,409,116 42%
Fidelity VIP-II - Asset Manager Portfolio ............ 633,299 13.016474 8,243,320 10%
Fidelity VIP-II - Contrafund Portfolio ............... 69,405 16.286602 1,130,372 24%
Fidelity VIP-III -
Growth Opportunities Portfolio ..................... 107,601 13.537768 1,456,677 4%
</TABLE>
28
<PAGE> 28
<TABLE>
<CAPTION>
ANNUAL
UNITS UNIT VALUE RETURN*
------ ---------- --------
<S> <C> <C> <C> <C>
Morgan Stanley -
Emerging Markets Debt Portfolio .................... 10,459 8.802247 92,063 29%
Nationwide SAT -
Capital Appreciation Fund .......................... 180,019 14.060766 2,531,205 4%
Nationwide SAT - Government Bond Fund ................ 442,738 10.965295 4,854,753 (3)%
Nationwide SAT - Money Market Fund ................... 180,702 11.077427 2,001,713 4%
Nationwide SAT -
Small Capital Value Fund ........................... 205,906 10.889269 2,242,166 27%
Nationwide SAT - Small Company Fund .................. 108,697 14.198026 1,543,283 43%
Nationwide SAT - Total Return Fund ................... 42,859 12.858923 551,121 6%
Neuberger & Berman AMT -
Growth Portfolio ................................... 232,220 17.293092 4,015,802 49%
Neuberger & Berman AMT -
Guardian Portfolio ................................. 1,004 10.655149 10,698 14%
Neuberger & Berman AMT -
Limited Maturity Bond Portfolio .................... 470,153 10.658215 5,010,992 1%
Neuberger & Berman AMT -
Partners Portfolio ................................. 371,291 11.280632 4,188,397 7%
Oppenheimer VAF - Bond Fund .......................... 94,715 10.827092 1,025,488 (2)%
Oppenheimer VAF -
Global Securities Fund ............................. 69,217 18.113638 1,253,772 58%
Oppenheimer VAF - Growth Fund ........................ 162,474 17.354695 2,819,687 41%
Strong - Opportunity Fund II, Inc. ................... 318,446 15.333847 4,883,002 34%
Strong VIP -
Strong International Stock Fund II ................. 60,360 15.212498 918,226 86%
Van Eck WIT - Worldwide Bond Fund .................... 121 10.656970 1,289 (8)%
Van Eck WIT -
Worldwide Emerging Markets Fund .................... 48,907 9.534407 466,299 99%
Van Kampen LIT -
Real Estate Securities Fund ........................ 21,721 9.183056 199,465 (4)%
Warburg Pincus Trust -
International Equity Portfolio ..................... 51,580 14.094893 727,015 53%
Warburg Pincus Trust -
Small Company Growth Portfolio ..................... 215,338 16.529628 3,559,457 68%
------- --------- ------------
$ 95,318,503
============
</TABLE>
* The annual return does not include contract charges satisfied by
surrendering units.
See accompanying notes to financial statements.
29
<PAGE> 29
Independent Auditors' Report
----------------------------
The Board of Directors of Nationwide Life and Annuity Insurance Company and
Contract Owners of Nationwide VL Separate Account-A:
We have audited the accompanying statement of assets, liabilities and
contract owners' equity of Nationwide VL Separate Account-A (comprised of the
sub-accounts listed in note 1(b)) (collectively, "the Account") as of December
31, 1999, and the related statements of operations and changes in contract
owners' equity for each of the years in the three year period then ended. These
financial statements are the responsibility of the Account's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. Our procedures included
confirmation of securities owned as of December 31, 1999, by correspondence with
the transfer agents of the underlying mutual funds. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of the Account as of December
31, 1999, and the results of its operations and its changes in contract owners'
equity for each of the years in the three year period then ended in conformity
with generally accepted accounting principles.
KPMG LLP
Columbus, Ohio
February 18, 2000
30
<PAGE> 30
[THIS PAGE LEFT BLANK INTENTIONALLY]
31
<PAGE> 31
<TABLE>
<CAPTION>
<S> <C>
NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY Bulk Rate
HOME OFFICE: ONE NATIONWIDE PLAZA - COLUMBUS, OHIO 43215-2220 U.S. Postage
PAID
Columbus, Ohio
Permit No. 521
</TABLE>
Nationwide(R) is a registered federal service mark of Nationwide Mutual
Insurance Company
