<PAGE>
FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT B
SUPPLEMENT
DATED JUNE 13, 1997
TO THE
PROSPECTUS DATED APRIL 30, 1997
FOR THE
VANGUARD VARIABLE ANNUITY PLAN
OFFERED BY
FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
The paragraphs under the heading "First Providian Life and Health Insurance
Company" contained in the "The Company and the Separate Account" section (which
section appears on page 12) are hereby deleted and replaced in their entirety as
follows:
"The Company is a stock life insurance company incorporated under the laws of
the State of New York on March 23, 1970, with adminstrative offices at 520
Columbia Drive, Johnson City, New York 13790. The Company is principally engaged
in offering life insurance, annuity contracts, and accident and health insurance
and is admitted to do business in 10 states and the District of Columbia. As of
December 31, 1996, the Company had statutory assets of approximately $324
million. The Company is a wholly owned indirect subsidiary of AEGON
International N.V., which conducts substantially all of its operations through
subsidiary companies engaged in the insurance business or in providing non-
insurance financial services. All of the stock of AEGON International N.V. is
owned by AEGON N.V. of the Netherlands. AEGON N.V., a holding company, conducts
its business through subsidiary companies engaged primarily in the insurance
business."
<PAGE>
FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT B
SUPPLEMENT
DATED JUNE 13, 1997
TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1997
FOR THE
VANGUARD VARIABLE ANNUITY PLAN
OFFERED BY
FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
(A MISSOURI STOCK COMPANY)
The paragraphs under the heading "THE COMPANY" on page B-7 are hereby deleted
and replaced in their entirety as follows:
"All the stock of the Company is owned by Veterans Life Insurance Company, which
is a subsidiary of Providian Life and Health Insurance Company, a Missouri
insurance company ("PLH"). Providian Corporation owns a 4% interest in PLH and
61%, 15%, and 20% interests in PLH, respectively, are held by Commonwealth Life
Insurance Company, Peoples Security Life Insurance Company, and Capital Liberty,
L.P. Commonwealth Life Insurance Company and Peoples Security Life Insurance
Company are each wholly owned by Capital General Development Corporation, which
in turn is wholly owned by Providian Corporation. A 3% interest in Capital
Liberty, L.P. is owned by Providian Corporation, which is the general partner,
and 78% and 19% interests, respectively, are held by two limited partners,
Commonwealth Life Insurance Company and Peoples Security Life Insurance Company.
Providian Corporation is a wholly owned subsidiary of AEGON International N.V.
AEGON International N.V. is a wholly owned subsidiary of AEGON N.V. Vereniging
AEGON (a Netherlands membership association) has a 53% interest in AEGON N.V."
