Supplement to Prospectus Dated May 3, 1999
Supplement Dated May 3, 1999
The Guaranteed Maturity Annuity being offered pursuant to this Prospectus has
the following charges and features:
Sales Charge/Surrender Charge: A sales charge is assessed when premium is
submitted. The amount of the sales charge depends on the amount of premium
submitted at the time, irrespective of the number of Contracts issued (see
"Application and Initial Payment", p. 8). The sales charge is as shown in the
chart below. There is no surrender charge on either a full or partial surrender
(see "Sales Charge", p. 9 and "Surrender Charge", p. 10).
Additional Amounts on Qualifying Purchase Payments: While we reserve the right
to make additions to the Interim Values of Contracts of Participants submitting
large amounts of premium, we currently do not make such additions in relation to
large premiums submitted for the Guaranteed Maturity Annuity being offered to
you pursuant to this Prospectus. However, the sales charges noted below do
decrease as shown for larger premiums (see "Additional Amounts on Qualifying
Purchase Payments", p. 11).
<TABLE>
<CAPTION>
Sales Charges for All Contracts Offered Pursuant to this Prospectus/
Specified Maximum Percentages for Exchange Contracts Only
Specified
Premium Received Sales Charge Maximum Percentage
<S> <C> <C>
Less than $50,000 3.75% 2.81%
At least $50,000 but less than $100,000 3.25% 2.44%
At least $100,000 but less than $250,000 2.70% 2.03%
At least $250,000 but less than $500,000 2.40% 1.80%
At least $500,000 but less than $1,000,000 2.00% 1.50%
At least $1,000,000 or more 1.00% .75%
</TABLE>
Guarantee Periods: As of the date shown above, we offer Guarantee Periods of
five, ten and fifteen years. We may change the Guarantee Periods we offer at
some future date (see "Guarantee Periods", p. 12)
Interest Rate Minimums: Interest rates are subject to a minimum. We may declare
higher rates. The minimum for each Guarantee Period is based on both an index
and a reduction to the interest rate determined according to the index. The
index is based on certificates of indebtedness of the United States Treasury.
The reduction for Guarantee Periods of ten years or less is 1.35 percent
(0.0135) and 1.75 percent (0.0175) for the fifteen year Guarantee Period (see
"Interest Rates", p. 13).
CATS-SUPP (5/99)
