SUPPLEMENT TO PROSPECTUS DATED MAY 3, 1999 AND REVISED EFFECTIVE OCTOBER 18,
1999 SUPPLEMENT DATED JANUARY 3, 2000
This Supplement should be retained with the current Prospectus for your variable
annuity contract issued by American Skandia Life Assurance Corporation
("American Skandia"). If you do not have a current prospectus, please contact
American Skandia at 1-800-SKANDIA.
PROPOSED SUBSTITUTION
American Skandia has filed an application with the Securities and Exchange
Commission ("SEC") to substitute the following "Replaced Portfolio/Sub-Account"
with the "Substitute Portfolio/Sub-Account".
<TABLE>
<CAPTION>
- ----------------------------------------------------------------- ------ -----------------------------------------------------------
REPLACED PORTFOLIO/SUB-ACCOUNT SUBSTITUTE PORTFOLIO/SUB-ACCOUNT
- ----------------------------------------------------------------- ------ -----------------------------------------------------------
- ----------------------------------------------------------------- ------ -----------------------------------------------------------
<S> <C>
Alger American Growth portfolio of The Alger American Fund/AA AST MFS Growth portfolio of American Skandia Trust/AST MFS
Growth Sub-account Growth Sub-account
- ----------------------------------------------------------------- ------ -----------------------------------------------------------
</TABLE>
In the application to the SEC, American Skandia is seeking permission to allow
transfers from the Replaced Portfolio/Sub-account to any other investment
options available under the Annuity for a period of 30 days following the
substitution without the imposition of any transfer fee. Under the proposed
substitution, such transfers would not count in determining whether the maximum
number of free transfers has been exceeded. Furthermore, under the proposed
substitution, the transfer of Account Value from the Replaced
Portfolio/Sub-account to the Substitute Portfolio/Sub-account would likewise not
be subject to a transfer fee nor count in determining whether the maximum number
of free transfers have been exceeded. The proposed substitution will not affect
your rights or our obligations under the Annuity. American Skandia will bear any
expenses in connection with the proposed substitution.
CONTRACT OWNERS WITH ACCOUNT VALUE ALLOCATED TO THE REPLACED
PORTFOLIO/SUB-ACCOUNT MAY REMAIN IN THE SUB-ACCOUNT UNTIL THE EARLIEST TO OCCUR
OF: (1) THE DATE THEY TRANSFER ACCOUNT VALUE OUT OF THE REPLACED
PORTFOLIO/SUB-ACCOUNT; OR (2) THE DATE THE PROPOSED SUBSTITUTION IS COMPLETED.
ON OR AFTER THE DATE OF THE SUBSTITUTION, THE REPLACED PORTFOLIO/SUB-ACCOUNT
WILL NO LONGER EXIST. CONTRACT OWNERS WILL NO LONGER BE ABLE TO ALLOCATE ACCOUNT
VALUE TO THE REPLACED PORTFOLIO/SUB-ACCOUNT AFTER THE SUBSTITUTION DATE.
WFV2/WFVASL/WFVXTC-SUPP. (01/03/2000) 1
