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FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT B
SUPPLEMENT DATED AUGUST 7, 1998
TO THE
PROSPECTUS DATED APRIL 30, 1998
FOR THE
VANGUARD VARIABLE ANNUITY PLAN CONTRACT
OFFERED BY
FIRST PROVIDIAN LIFE & HEALTH INSURANCE COMPANY
(A NEW YORK STOCK COMPANY)
The Board of Directors of First Providian Life & Health Insurance Company
("FPLH") and the Board of Directors of AUSA Life Insurance Company, Inc.
("AUSA Life") have approved a plan of merger pursuant to which FPLH would
merge with and into AUSA Life. The merger agreement is dated March 27, 1998.
The merger is expected to be consummated on or about October 1, 1998, subject
to the approval of applicable regulatory authorities.
If the merger is consummated, First Providian Life & Health Insurance Company
Separate Account B will become a separate account of AUSA Life. All FPLH
contracts will remain outstanding in accordance with their terms. Information
concerning AUSA Life will be sent to contract holders shortly after the merger
is effective.
FP64-NY
