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Rule 497(e)
File No. 33-80958
PROVIDIAN LIFE AND HEALTH INSURANCE COMPANY
SEPARATE ACCOUNT V
SUPPLEMENT DATED JANUARY 1, 1996
TO
PROSPECTUS DATED DECEMBER 1, 1995
The following supplements information regarding the investment options currently
available under The Advisor's Edge variable annuity available through Providian
Life and Health Insurance Company Separate Account V:
Effective January 1, 1996, Contract Owners will no longer be permitted to
allocate Purchase Payments to, or effect transfers into, the SEI
International Growth, SEI Growth, SEI Aggressive Growth, SEI Income Equity,
or the SEI Intermediate Fixed Income Portfolios of the Insurance Investment
Products Trust. Contract Owners may continue, subject to the limitations
set forth in the Prospectus, to allocate Purchase Payments among the
remaining 15 Portfolios available under The Advisor's Edge.
