Supplement to Prospectus Dated May 1, 1995
Supplement Dated July 13, 1995
On page 1 of the Prospectus, in the fifth sentence of the fourth paragraph,
replace the first word in the sentence "Otherwise" with the following: "You
are cautioned that with respect to the Fixed Investment Options during the
accumulation phase"
On page 11 of the Prospectus under the caption "Underlying Mutual Fund
Portfolio Annual Expenses (as a percentage of average net assets)" the
following underlying mutual funds' expenses are corrected as follows:
Federated Utility Income's "Management Fee without any applicable
reimbursement" is corrected to read 0.71% and "Other Expenses without any
applicable reimbursement" is corrected to read 0.28%; PIMCO Total Return
Bond's "Other Expenses without any applicable reimbursement" is corrected
to read 0.37%; AST Phoenix Balanced Asset's "Management Fee without any
applicable reimbursement" is corrected to read 0.71% and "Other Expenses
without any applicable reimbursement" is corrected to read 0.28%; AST Money
Market's "Management Fee after any applicable reimbursement" is corrected
to read 0.49% and "Other Expenses after any applicable reimbursement" is
corrected to read 0.15%.
The following is added after the first paragraph under "Distribution"
located on page 47 of the Prospectus:
As of the date of this Prospectus, we expect to pay an on-going service fee
in relation to providing certain statistical information upon request by
Owners about the variable investment options and the underlying mutual fund
portfolios. The fee is payable to the service providers based on your
Annuity's Account Value maintained in the variable investment options. No
fee is payable based on any Account Values maintained in any Fixed
Allocations. Under most circumstances, we will engage the broker-dealer of
record for your Annuity, or the entity of record if such entity could offer
Annuities with registration as a broker-dealer (i.e. certain banks), to be
your resource for the statistical information, and to be available upon
your request to both provide and explain such information to you. The
broker-dealer of record or the entity of record is the firm which sold you
the Annuity, unless later changed. Some portion of the fee we pay for this
service may be payable to your representative. Therefore, your
representative may receive on-going service fee compensation, but only in
relation to Account Values maintained in variable investment options.
ASAP 2 - SUPP (7/95)
