Registration No. 333-19925
Registration No. 811-1705
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. | |
Post-Effective Amendment No. 3 |X|
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
Amendment No. 82 |X|
(Check appropriate box or boxes)
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SEPARATE ACCOUNT A
of
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Exact Name of Registrant)
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THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Name of Depositor)
1290 Avenue of the Americas, New York, New York 10104
(Address of Depositor's Principal Executive Offices)
Depositor's Telephone Number, including Area Code: (212) 554-1234
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ROBIN WAGNER
VICE PRESIDENT AND COUNSEL
The Equitable Life Assurance Society of the United States
1290 Avenue of the Americas, New York, New York 10104
(Name and Address of Agent for Service)
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Please send copies of all communications to:
PETER E. PANARITES
Freedman, Levy, Kroll & Simonds
1050 Connecticut Avenue, N.W., Suite 825
Washington, D.C. 20036
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Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective (check
appropriate box):
[ ] Immediately upon filing pursuant to paragraph (b) of Rule 485
[X] On May 1, 2000 pursuant to paragraph (b) of Rule 485.
[ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485.
[ ] On (date) pursuant to paragraph (a)(1) of Rule 485.
If appropriate, check the following box:
[ ] This post-effective amendment designates a new effective date for
previously filed post-effective amendment.
Title of Securities Being Registered:
Units of interest in Separate Account under variable annuity contracts.
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Variable Immediate Annuity
A combination variable and fixed
immediate annuity contract
PROSPECTUS DATED MAY 1, 2000
Please read and keep this prospectus for future reference. It contains
important information that you should know before purchasing or taking any
other action under your contract. Also, at the end of this prospectus you will
find attached the prospectus for EQ Advisors Trust, which contains important
information about its portfolios.
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WHAT IS THE VARIABLE IMMEDIATE ANNUITY?
The Variable Immediate Annuity is a single premium payout annuity contract
issued by THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES. The
contract offers a variable income annuity option funded by one or more of the 14
variable investment options. The contract also offers a fixed income annuity
option funded by our general account. This option may only be elected in
combination with the variable income annuity option.
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VARIABLE INVESTMENT OPTIONS:
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FIXED INCOME
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o Alliance High Yield o Alliance Money Market
o Alliance Intermediate o Alliance Quality Bond
Government Securities
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DOMESTIC STOCKS INTERNATIONAL STOCKS
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o EQ/Aggressive Stock(1) o Alliance Global
o Alliance Common Stock o Alliance International
o Alliance Equity Index
o Alliance Growth and Income
o Alliance Small Cap Growth
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BALANCED/HYBRID
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o Alliance Conservative Investors
o Alliance Growth Investors
o EQ/Balanced(2)
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(1) Formerly named "Alliance Aggressive Stock"
(2) Formerly named "Alliance Balanced"
You may allocate amounts to the variable investment options. Each variable
investment option is a subaccount of our Separate Account A. Each variable
investment option, in turn, invests in a corresponding securities portfolio of
EQ Advisors Trust. Your investment results in a variable investment option
will depend on the investment performance of the related portfolio.
FIXED INCOME ANNUITY OPTION. You may allocate a portion of your premium
payment to the fixed income annuity option. The portion of your annuity
payments you receive from the fixed income annuity option will be the same
each month and will not fluctuate. You can only elect the fixed income annuity
option at the time you purchase a Variable Immediate Annuity. You cannot
transfer funds between the fixed income annuity option and the variable income
annuity option.
TYPES OF CONTRACTS. We offer the contract for use as an annuity to pay out
your benefits under:
o a nonqualified annuity ("NQ") for after-tax contributions only
o a plan qualified under Section 401(a) of the Internal Revenue Code
o an individual retirement annuity ("IRA")
o an Internal Revenue Code Section 403(b) Tax-Sheltered Annuity ("TSA")
A minimum premium payment of $10,000 is required to purchase this contract.
A registration statement relating to this offering has been filed with the
Securities and Exchange Commission ("SEC"). The statement of additional
information ("SAI") dated May 1, 2000, is a part of the registration
statement. The SAI is available free of charge. You may request one by writing
to our processing office or calling 1-800-245-1230. The SAI has been
incorporated by reference into this prospectus. This prospectus and the SAI
can also be obtained from the SEC's Web site at http://www.sec.gov. The table
of contents for the SAI appears at the back of this prospectus.
THE SEC HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS
PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE. THE CONTRACTS ARE NOT INSURED BY THE FDIC OR ANY OTHER
AGENCY. THEY ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF ANY BANK AND ARE NOT
BANK GUARANTEED. THEY ARE SUBJECT TO INVESTMENT RISKS AND POSSIBLE LOSS OF
PRINCIPAL.
72077
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Contents of this prospectus
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VARIABLE IMMEDIATE ANNUITY
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Index of key words and phrases 4
Who is Equitable Life? 5
How to reach us 6
Variable Immediate Annuity at a glance - key features 7
Fee table 9
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1
CONTRACT FEATURES AND BENEFITS 10
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How you can purchase a contract 10
Owner and annuitant requirements 10
What are your investment options under the contract? 10
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2
SELECTING YOUR ANNUITY OPTION 12
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Allocating your premium payment 12
Transfers among the variable investment options 12
Your right to cancel within a certain number of days 13
Your annuity payout option 13
Determining your monthly variable payments 14
Assumed Investment Return ("AIR") 14
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3
CHARGES AND EXPENSES 16
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Charges that Equitable Life deducts 16
Charges that EQ Advisors Trust deducts 16
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</TABLE>
"We," "our" and "us" refer to Equitable Life.
When we address the reader of this prospectus with words such as "you" and
"your," we mean the person who has the right or responsibility that the
prospectus is discussing at that point. This is usually the contract owner.
To make this prospectus easier to read, we sometimes use different words than in
the contract. Your financial professional can provide further explanation about
your contract.
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4
TAX INFORMATION 17
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Overview 17
Taxation of annuity payments 17
Special rules for tax-favored retirement programs 18
Federal and state income tax withholding 20
Other information 20
Special rules for contracts issued in Puerto Rico 21
Impact of taxes to Equitable Life 21
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5
MORE INFORMATION 22
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About Separate Account A 22
About EQ Advisors Trust 22
About our general account 23
About your voting rights 23
About legal proceedings 24
Financial Statements 24
Distribution of the contracts 24
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APPENDIX: EXAMPLES OF HOW WE
DETERMINE VARIABLE ANNUITY PAYMENTS
FOR YOUR SINGLE PREMIUM PAYMENT AND
FOR VARIABLE INVESTMENT OPTION
TRANSFERS A-1
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STATEMENT OF ADDITIONAL INFORMATION
TABLE OF CONTENTS
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Index of key words and phrases
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This index should help you locate more information on the terms used in this
prospectus.
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PAGE
<S> <C>
AIR 14
annuitant 10
annuity payout options 13
annuity unit 12
annuity unit value 12
business day 10
contract date 7
contract date anniversary 7
contract year 7
fixed income annuity option cover
IRA 17
IRS 17
life contingency 14
net investment return 12
nonqualified annuity 17
portfolio cover
premium payment 10
processing office 6
qualified annuity 17
Required Beginning Date 19
SAI cover
traditional IRA 18
TSA cover
variable income annuity option 12
variable investment options cover
</TABLE>
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Who is Equitable Life?
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We are The Equitable Life Assurance Society of the United States ("Equitable
Life"), a New York stock life insurance corporation. We have been doing
business since 1859. Equitable Life is a wholly owned subsidiary of AXA
Financial, Inc. (previously, The Equitable Companies Incorporated). The
majority shareholder of AXA Financial, Inc. is AXA, a French holding company
for an international group of insurance and related financial services
companies. As a majority shareholder, and under its other arrangements with
Equitable Life and Equitable Life's parent, AXA exercises significant
influence over the operations and capital structure of Equitable Life and its
parent. No company other than Equitable Life, however, has any legal
responsibility to pay amounts that Equitable Life owes under the contract.
AXA Financial, Inc. and its consolidated subsidiaries managed approximately
$462.7 billion in assets as of December 31, 1999. For over 100 years Equitable
Life has been among the largest insurance companies in the United States. We
are licensed to sell life insurance and annuities in all fifty states, the
District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home
office is located at 1290 Avenue of the Americas, New York, N.Y. 10104.
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HOW TO REACH US
Send all written communications to our processing office:
Equitable Life
Variable Immediate Annuity
P.O. Box 2494
New York, NY 10116-2494
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CUSTOMER SERVICE REPRESENTATIVE:
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During our regular business hours you may call 1-800-245-1230, our toll-free
number, to speak with one of our customer service representatives. Our customer
service representatives are available on any business day Monday through Friday
from 9:00 a.m. until 5:00 p.m., Eastern Time.
You should send all notices and requests to our processing office at the
address above.
WE HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF
REQUESTS:
(1) address changes;
(2) beneficiary changes; and
(3) transfers among variable investment options.
You must sign and date all these requests. Any written request that is not on
one of our forms must include your name and your contract number along with
adequate details about the notice you wish to give or the action you wish us to
take.
SIGNATURES:
The proper person to sign forms, notices and requests is the owner. Any
irrevocable beneficiary or assignee that we have on our records also must sign
certain types of requests.
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Variable Immediate Annuity at a glance - key features
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PROFESSIONAL The Variable Immediate Annuity's variable investment
INVESTMENT options invest in different portfolios managed by a
MANAGEMENT professional investment adviser.
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FIXED INCOME o Provides fixed annuity payments supported by
ANNUITY OPTION our general account.
o This option can only be selected when you
purchase your Variable Immediate Annuity.
o You may not allocate 100% of your premium
payment to the fixed income annuity option.
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TAX ADVANTAGES o No tax on transfers inside the contract when
you make transfers among the variable
investment options.
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YOUR ANNUITY PAYMENTS o We make monthly annuity payments to you
based on the annuity option you choose.
o Once issued, the contract may not be
surrendered. The contract does not have a
cash surrender value.
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PAYOUT OPTIONS o Fixed annuity payout options
o Variable annuity payout options
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ADDITIONAL FEATURES o You may transfer funds among the variable
investment options once a year on the
contract date anniversary. There is no
charge for such transfers.
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The "contract date" is the effective date of
a contract. This is usually the business day
we receive the properly completed and signed
application along with any other required
documents and your premium payment. Your
contract date will be shown in your
contract. The 12-month period beginning on
your contract date and each 12-month period
after that date is a "contract year." The
end of each 12-month period is your
"contract date anniversary."
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FEES AND o We deduct a daily charge currently
CHARGES at an effective annual rate of
0.50% of the assets invested in the
variable investment options. This
charge is for mortality and expense
risks and administrative charges.
We may increase this charge to a
maximum effective annual rate of
1.55%.
o We deduct a onetime charge of $350
from your premium payment for
administrative expenses of the
contract.
o We deduct a charge designed to
approximate certain taxes that may
be imposed on us, such as premium
taxes, in your state. The charge is
deducted from your premium payment.
o Annual expenses of EQ Advisors
Trust portfolios are calculated as
a percentage of the average daily
net assets invested in each
portfolio. These expenses include
management fees ranging from 0.25%
to 0.85% annually, and other
expenses.
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</TABLE>
THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE
CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY. ALSO, ALL FEATURES OF
THE CONTRACT ARE NOT NECESSARILY AVAILABLE IN YOUR STATE.
For more detailed information we urge you to read the contents of this
prospectus, as well as your contract. Please feel free to speak with your
financial professional, or call us, if you have any questions.
OTHER CONTRACTS
We offer a variety of fixed and variable annuity contracts. They may offer
different features, including investment options, fees and/or charges that are
different from those in the contracts offered by this prospectus. Not every
contract is offered through the same distributor. Upon request, your registered
representative can show you information regarding other Equitable life annuity
contracts that he or she distributes. You can also contact us to find out more
about any of the Equitable Life annuity contracts.
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Fee table
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The fee table below will help you understand the various charges and expenses
that apply to your contract. The table reflects charges you will directly incur
under the contract, as well as charges and expenses of the portfolios that you
will bear indirectly. Charges designed to approximate certain taxes that may be
imposed on us, such as premium taxes in your state, may also apply. Each of the
charges and expenses is more fully described under "Charges and expenses" later
in this prospectus.
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CHARGES WE DEDUCT FROM YOUR PREMIUM PAYMENT
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Administrative expense charge $350
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CHARGES WE DEDUCT FROM YOUR VARIABLE INVESTMENT OPTIONS EACH DAY EXPRESSED AS AN ANNUAL PERCENTAGE OF NET
ASSETS (MAXIMUM)
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Mortality and expense risks 1.25%
Administration 0.30%
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Total annual expenses(1) 1.55%
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</TABLE>
EQ ADVISORS TRUST ANNUAL EXPENSES (AS A PERCENTAGE
OF AVERAGE DAILY NET ASSETS IN EACH PORTFOLIO)
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<CAPTION>
TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES(2)
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<S> <C> <C> <C>
EQ/Aggressive Stock 0.60% 0.04% 0.64%
Alliance Common Stock 0.46% 0.04% 0.50%
Alliance Conservative Investors 0.60% 0.07% 0.67%
Alliance Equity Index 0.25% 0.05% 0.30%
Alliance Global 0.73% 0.09% 0.82%
Alliance Growth and Income 0.59% 0.05% 0.64%
Alliance Growth Investors 0.57% 0.05% 0.62%
Alliance High Yield 0.60% 0.05% 0.65%
Alliance Intermediate Government Securities 0.50% 0.07% 0.57%
Alliance International 0.85% 0.20% 1.05%
Alliance Money Market 0.34% 0.05% 0.39%
Alliance Quality Bond 0.53% 0.05% 0.58%
Alliance Small Cap Growth 0.75% 0.07% 0.82%
EQ/Balanced 0.57% 0.05% 0.62%
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(1) We currently charge only 0.50% against the amounts held in the variable
investment options. We reserve the right to impose a charge in the future
of up to 1.55% against the amounts held in the variable investment
options.
(2) The management fees shown reflect the revised management fees, effective
on or about May 1, 2000, which were approved by shareholders. The
management fees for each portfolio cannot be increased without a vote of
that portfolio's shareholders.
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1
Contract features and benefits
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HOW YOU CAN PURCHASE A CONTRACT
You may purchase a contract by making a single premium payment to us. Your
premium payment must be by check drawn on a U.S. bank, in U.S. dollars, and
made payable to Equitable Life. We do not accept cash or traveler's checks. We
do not accept third-party checks endorsed to us except for rollover payments,
or trustee checks that involve no refund. All checks are accepted subject to
our ability to collect the funds. We may also, subject to terms we may
require, allow a premium payment to be made by a wire transfer or other means.
We reserve the right to reject a payment if it is received in an unacceptable
form.
Your premium payment must be accompanied by an application and any other form
we need to process the payment. If any information is missing or unclear, we
will try to obtain that information. If we are unable to obtain all of the
information we require within five business days after we receive an
incomplete application or form, we will inform the Equitable associate
submitting the application on your behalf. We will then return the premium
payment to you unless you specifically direct us to keep your premium payment
until we receive the required information.
Our "business day" is any day on which Equitable Life is open and the New York
Stock Exchange is open for trading. We are closed on national business
holidays including Martin Luther King, Jr. Day and the Friday after
Thanksgiving. Additionally, we may choose to close on the day immediately
preceding or following a national business holiday or due to emergency
conditions. Our business day ends at 4:00 p.m., Eastern Time.
OWNER AND ANNUITANT REQUIREMENTS
The "annuitant" is the person who is the measuring life for determining
contract benefits. The annuitant is not necessarily the contract owner, except
for IRA and TSA contracts where the owner and annuitant must be the same
person. The contract owner receives the payments under the contract, unless a
different payee is named.
WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT?
Your investment options are the variable investment options and the fixed
income annuity option.
VARIABLE INVESTMENT OPTIONS
Your investment results in any one of the variable investment options will
depend on the investment performance of the underlying portfolios. Listed
below are the currently available portfolios, and their investment objectives.
Alliance Capital Management L.P. serves as the investment adviser to each
portfolio. In addition, Massachusetts Financial Services Company is subadvisor
for EQ/Aggressive Stock and Capital Guardian Trust Company, Prudential
Investment Fund Management, LLC and Jennison Associates, LLC are sub-advisors
for the EQ/Balanced portfolio.
You can choose from among the variable investment options. Investment options
are referred to as Investment Funds in the contract.
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PORTFOLIOS OF EQ ADVISORS TRUST
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PORTFOLIO NAME OBJECTIVE
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EQ/Aggressive Stock Long-term growth of capital
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Alliance Common Stock Long-term growth of capital and increasing income
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Alliance Conservative Investors High total return without, in the adviser's opinion, undue
risk of principal
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Alliance Equity Index Total return (before EQ Advisors Trust expenses and
Separate Account A annual expenses) that approximates
the total return performance of the Standard & Poor's 500
Composite Stock Price Index
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Alliance Global Long-term growth of capital
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Alliance Growth and Income High total return through a combination of current income
and capital appreciation
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Alliance Growth Investors High total return consistent with the adviser's
determination of reasonable risk
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Alliance High Yield High return by maximizing current income and, to the
extent consistent with that objective, capital appreciation
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Alliance Intermediate Government Securities High current income consistent with relative stability of
principal
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Alliance International Long-term growth of capital
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Alliance Money Market High level of current income while preserving assets and
maintaining liquidity
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Alliance Quality Bond High current income consistent with preservation of capital
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Alliance Small Cap Growth Long-term growth of capital
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EQ/Balanced High return through a combination of current income and
capital appreciation
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</TABLE>
Other important information about the portfolios is included in the separate
prospectus for EQ Advisors Trust attached at the
end of this prospectus.
FIXED INCOME ANNUITY OPTION
If you allocate a portion of your premium payment to the fixed income annuity
option, your payments under the fixed income annuity option will be the same
each month and will not fluctuate. For more information, see "About our general
account," in "More information" later in this prospectus.
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2
Selecting your annuity option
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You may select the variable income annuity option funded through one or more
of the variable investment options, alone, or in combination with the fixed
income annuity option. The first two monthly payments are always fixed. Under
the variable income annuity option, the third and subsequent monthly annuity
payments you receive will increase or decrease depending upon the investment
performance of the variable investment options you select. The amount of the
payments you receive under the fixed income annuity option will be the same
each month and will not fluctuate. If you choose a combination of the variable
income annuity option and fixed income annuity option, you will receive a
single monthly payment representing the sum of the variable annuity and fixed
annuity payments due.
We will begin sending you annuity payments under the contract one month
following the date we receive your premium payment. Once issued, a contract
may not be surrendered. The contract does not have a cash surrender value.
We offer four annuity payout options from which you may choose. See "Choosing
your annuity payout option" below.
ALLOCATING YOUR PREMIUM PAYMENT
You may allocate your premium payment to one or more, or all, of the variable
investment options. You may also allocate your premium payment to the fixed
income annuity option. However, you may not allocate 100% of your premium
payment to the fixed income annuity option. Allocations must be in whole
percentages that equal 100%.
When your premium payment is allocated to a variable investment option, it
purchases "annuity units" in that option. We calculate the annuity units to be
credited under a variable investment option by taking the dollar amount of the
initial annuity payment and dividing it by the "annuity unit value" for that
option. We use the annuity unit value calculated at the end of a "valuation
period" in which we receive the premium payment at our processing office.
A valuation period is each business day together with any consecutive
non-business days before it.
Once we allocate your premium payment to a variable investment option, the
number of annuity units we credit under that investment option will not change
unless you make a transfer to or from such option. The annuity unit value will
increase or decrease with the investment results of the variable investment
option minus daily charges for mortality and expense risks and asset-based
administrative charges (compared to the assumed investment return). See
"Assumed Investment Return ("AIR")" below. The investment results of a
variable investment option depend on the investment performance of the
corresponding portfolio. We discuss annuity units in greater detail under
"Determining your monthly variable payments" below. We provide a description
of how annuity unit values are calculated in the SAI.
Investment results minus the daily charges is your "net investment return."
TRANSFERS AMONG THE VARIABLE INVESTMENT OPTIONS
You may transfer all or a portion of the annuity units in your variable
investment options among the variable investment options once a year on the
contract date anniversary. We may allow more frequent transfers in some cases,
but you cannot transfer funds between the fixed income annuity option and
variable income annuity option. You must make a transfer request to our
processing office at least 5 days before the contract date anniversary,
otherwise it will be returned. A transfer becomes effective on the next
contract date anniversary after our processing office has received the
request.
When you transfer annuity units in and out of the variable investment options,
the annuity unit value is calculated on the effective date of the transfer.
All transfers are confirmed in writing. Your transfer request must include the
following:
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o your contract number;
o the percentage of your annuity units (as of the date of your request) to be
transferred; and
o the variable investment options to and from which the units are to be
transferred.
We do not charge you for any transfer among your variable investment options.
YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS
If for any reason you are not satisfied with your contract, you may return it
to us for a refund. To exercise this cancellation right you must mail the
contract directly to our processing office within 10 days after you receive
it. In some states, this "free look" period may be longer.
For your premium payment allocated to the variable investment options, your
refund will equal your premium payment for such options plus or minus any
investment gain or loss in the variable investment options through the date we
receive your contract at our processing office, less any annuity payments you
may have already received. We will also automatically deduct the daily
charges. For a premium payment allocated to the fixed income annuity option,
your refund will equal the amount you allocated to the fixed income annuity
option, without interest, less any payments you may have already received.
However, some states require that we refund the full amount of your premium
payment (not including any investment gain or loss). For an IRA contract
(discussed under "Tax information" later in this prospectus) returned to us
within seven days after you receive it, we are required to refund the full
amount of your premium payment.
We may require that you wait six months before you may apply for a contract
with us again if:
o you cancel your contract during the "free look" period; or
o you change your mind before you receive your contract whether we have
received your premium payment or not.
Please see "Tax information" for possible consequences of cancelling your
contract.
YOUR ANNUITY PAYOUT OPTION
The Variable Immediate Annuity offers you several choices of annuity payout
options to receive your monthly annuity payments. Restrictions may apply,
depending on the type of contract you own.
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ANNUITY PAYOUT OPTIONS
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Life annuity (except in New York)
Life annuity - period certain
Joint and survivor life annuity
Joint and survivor life annuity - period certain
ANNUITY PAYOUT OPTIONS
You may elect to receive your variable income annuity option payments, or your
combined variable income annuity option and fixed income annuity option
payments, on any one of the forms listed below. If your annuity payments equal
the sum of amounts received under both the variable income annuity option and
the fixed income annuity option, you must select the same payout option for
both.
o Life annuity: An annuity that guarantees payments for the rest of the
annuitant's life. Payments end with the last monthly payment before the
annuitant's death. Because there is no continuing benefit following the
annuitant's death, this annuity payout option provides the highest monthly
payment of any of the life annuity payout options, so long as the
annuitant is living.
o Life annuity with period certain: An annuity that guarantees payments for
the rest of the annuitant's life. If the annuitant dies before the end of
a selected period of time ("period certain"), payments continue to the
beneficiary for the balance of the period certain. The period certain
cannot exceed the annuitant's life expectancy.
o Joint and survivor life annuity: An annuity that guarantees payments for
the rest of the annuitant's life and, after the
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annuitant's death, payments continue to the surviving annuitant for the
rest of the surviving annuitant's life.
o Joint and survivor life annuity with period certain: This annuity form
guarantees payments for the rest of both annuitants' lives. In addition,
if both annuitants die before the period certain ends, payments will
continue to the beneficiary for the balance of the period certain. The
certain period cannot exceed the joint life expectancy of the annuitants.
Each option involves a life contingency, which means that we guarantee that
you will receive annuity payments for the rest of the annuitant's life and the
life of any joint annuitant.
Because each annuity payout option involves a life contingency, the amount of
your first monthly payment will depend on the annuitant's age, the age of any
joint annuitant, and the sex of the annuitant and any joint annuitant.
All other factors being equal, the older the annuitant is at the time of
purchase, generally the larger the amount of your monthly payments. The
annuity payout options that do not involve a period certain or a joint
annuitant generally will provide you with a higher monthly payment than
options that involve those features. In addition, generally monthly payments
for female annuitants are lower than for male annuitants of the same age.
DETERMINING YOUR MONTHLY VARIABLE PAYMENTS
The amount of your first monthly variable annuity payment ("monthly payment")
will depend on the following factors:
o the amount applied to purchase the annuity,
o the assumed base rate of net investment return,
o the form of distribution (annuity payout option you select),
o the annuitant's age and any joint annuitant's age (as discussed above), and
o in certain instances, the sex of the annuitant(s) (as discussed above).
We do not guarantee or project the growth in value of your variable annuity
payments. Once you choose an annuity payout option and payments begin, you
cannot change the payout option.
The first two monthly payments are fixed. The third and subsequent monthly
annuity payments you receive under the variable income annuity option will
vary according to the net investment return of the variable investment options
you select to fund the variable payments. After the first two payments, we
will calculate each monthly payment by multiplying a variable investment
option's average annuity unit value by the number of annuity units credited to
you under that option. For purposes of this calculation:
The number of annuity units equals the first monthly payment divided by the
annuity unit value on the business day we receive the premium payment.
The average annuity unit value equals the average of the annuity unit
values for the calendar month that is two months before the date the
payment is due.
In the case of a transfer between variable investment options, we calculate
the number of annuity units by dividing the dollar value of the transfer by
the annuity unit value of the variable investment options you are transferring
into on the contract date anniversary, or such other date as we may allow, in
accordance with our procedures.
ASSUMED INVESTMENT RETURN ("AIR")
To calculate your initial monthly payment, we assume a specific rate of return
is earned under your contract. This is the assumed base rate of investment
return ("AIR"). All contracts have an AIR of 5%, except for contracts issued
in states where a 3 1/2% AIR (maximum) is used.
If a variable investment option's net investment return equals the AIR, then
the amount of your monthly payment will not change. If the net investment
return is greater than the AIR, then the amount of your monthly payment will
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increase. On the other hand, if the net investment return is less than the
AIR, then the amount of your monthly payment will decrease.
Monthly payments under contracts with AIRs of 3 1/2% will at first be smaller
than those under contracts with AIRs of 5%. Monthly payments under contracts
with AIRs of 3 1/2% also will generally rise more rapidly when annuity unit
values are rising, and will fall more slowly when annuity unit values are
falling, than those under contracts with AIRs of 5%.
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3
Charges and expenses
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CHARGES THAT EQUITABLE LIFE DEDUCTS
We deduct the following onetime charges from your premium payment:
o An administrative expense charge.
o A charge designed to approximate certain taxes that may be imposed on us,
such as for state premium taxes in your state.
We deduct the following charges each day from the net assets of each variable
investment option. These charges are reflected in the annuity unit values:
o A mortality and expense risks charge.
o An asset-based administrative charge.
More information about these charges appears below.
ADMINISTRATIVE EXPENSE CHARGE
We deduct a onetime charge of $350 from your premium payment for
administrative expenses of the contract. We will not permit a reduction or
elimination of charges where it would be unfairly discriminatory.
CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES
We deduct a charge designed to approximate certain taxes that may be imposed
on us, for example, premium taxes in your state. We deduct this charge from
your premium payment. The current tax charge that might be imposed varies by
state and ranges from 0% to 3.5% of your premium payment (1% in Puerto Rico
and 5% in the U.S. Virgin Islands).
MORTALITY AND EXPENSE RISKS CHARGE AND ASSET-BASED ADMINISTRATIVE CHARGE
We deduct a daily charge at an effective annual rate of 0.50% of the net
assets in each variable investment option. This charge is reflected in the
annuity unit values for the particular variable investment option. We reserve
the right to increase this charge to an annual rate of 1.55%, which covers
maximum mortality and expense risk charges of 1.25% and maximum asset-based
administrative charges of 0.30%.
The mortality risk we assume is the risk that annuitants as a group will live
for a longer time than our actuarial tables predict. If that happens, we would
be paying more in annuity income than we planned. The expense risk we assume
is the risk that it will cost us more to issue and administer the contracts
than we expect.
We may use any profit from the mortality and expense risk charge to help cover
sales commissions and other distribution expenses.
Our intention is that the asset-based charge for expenses, together with the
administrative expense charge, reimburse us for our actual costs in providing
administrative services in connection with the contract. These charges are not
designed to include an element of profit. There is not necessarily a
relationship between the amount of administrative charge imposed on a given
contract and the amount of expenses that may be attributed to that contract.
CHARGES THAT EQ ADVISORS TRUST DEDUCTS
EQ Advisors Trust deducts charges for the following types of fees and
expenses:
o Management fees ranging from 0.25% to 0.85%.
o Operating expenses, such as trustees' fees, independent auditors' fees,
legal counsel fees, administrative service fees, custodian fees, and
liability insurance.
o Investment-related expenses, such as brokerage commissions and other
expenses related to the purchase and sale of securities.
These charges are reflected in the daily share price of each portfolio. Since
EQ Advisors Trust shares are purchased at their net asset value, these fees
and expenses are, in effect, passed on to the variable investment options and
are reflected in their annuity unit values. For more information about these
charges, please refer to the prospectus of EQ Advisors Trust attached at the
end of this prospectus.
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4
Tax information
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OVERVIEW
In this part of the prospectus, we discuss the current federal income tax
rules that generally apply to Variable Immediate Annuity contracts owned by
United States taxpayers. The tax rules can differ, depending on whether the
annuity is purchased with after-tax dollars and is not used to fund any type
of qualified retirement plan ("nonqualified annuity"), or the annuity is
purchased with pre-tax dollars and will be used to fund payouts from
tax-favored retirement plans ("qualified annuity").
Federal income tax rules include the United States laws in the Internal
Revenue Code, and Treasury Department Regulations and Internal Revenue Service
("IRS") interpretations of the Internal Revenue Code. These tax rules may
change. We cannot predict whether, when, or how these rules could change. Any
change could affect contracts purchased before the change.
We cannot provide detailed information on all tax aspects of the contracts.
Moreover, the tax aspects that apply to a particular person's contract may
vary depending on the facts applicable to that person. We do not discuss state
income and other state taxes, federal income tax and withholding rules for
non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the
contract, rights under the contract, or payments under the contract may be
subject to gift or estate taxes. You should not rely only on this document,
but should consult your tax adviser before your purchase.
TAXATION OF ANNUITY PAYMENTS
We designed the Variable Immediate Annuity contract to qualify as an "annuity"
for purposes of federal income tax rules. The taxable portion of annuity
payments is treated as ordinary income and is subject to income tax
withholding. See "Federal and state income tax withholding" below.
The Variable Immediate Annuity contract is a payout annuity - that is, funds
are applied to a payment stream measured by the annuitant's (and any joint
annuitant's) life, which payment stream is at least as long as any period
certain elected.
The federal income tax treatment of your Variable Immediate Annuity contract
payments will depend on whether you have a "tax basis" or "investment in the
contract," that is, whether you have purchased the contract with after-tax
funds. Where contributions to fund a tax-favored retirement program annuity
are all pre-tax funds, all amounts distributed from the contract are fully
taxable as ordinary income, not capital gains for federal income tax purposes.
However, where a contract has been purchased wholly or partially with
after-tax funds, you are entitled to get back without paying tax ("tax free"),
the portion of each payment that is attributed to these after-tax funds.
Special rules apply to individual retirement annuity ("IRA") contracts, as
discussed in the next section under "IRAs" - "Taxation of payments."
The formula for determining the tax-free portion of each payment varies
slightly depending on whether the contract is a nonqualified annuity, or a
qualified plan, or TSA. Generally, the tax-free portion of each payment is
based on the ratio of the after-tax investment in the contract, adjusted for
any guaranteed period, divided by the expected number of payments, as
determined in accordance with Treasury Regulations. For a qualified plan or
TSA annuity no adjustment for a guaranteed period is required. The expected
number of payments is generally determined under a statutory table. In all
cases, the remainder of each payment will be taxable. Special rules apply if
the variable annuity payments you actually receive in a year are less than the
amount permitted to be recovered tax free. After you recover your total
investment in the contract, subsequent payments are fully taxable. If payments
stop as a result of death, a deduction for any unrecovered investment will
be allowed.
Payments will generally receive the same income tax treatment that applies to
payments made to you while you are living if they are made to:
o a successor owner after your death and while the annuitant is still alive;
or
o a joint annuitant after the death of the annuitant; or
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o a beneficiary under a life income period certain Variable Immediate Annuity
after the death of the annuitant during the certain period.
EARLY DISTRIBUTION PENALTY TAX
If you take a distribution before you are age 59 1/2, a penalty tax of 10% of
the taxable portion of your distribution applies in addition to income tax.
The extra penalty tax does not apply to pre-age 59 1/2 distributions made:
(1) on or after your death; or
(2) because you are disabled (special federal income tax definition); or
(3) in the form of substantially equal periodic annuity payments for your life
(or life expectancy) or the joint lives (or joint life expectancies) of you
and a beneficiary; or
(4) payments under an immediate annuity.
An "immediate annuity" is generally an annuity under which payments begin
within one year from purchase and provides for a series of substantially equal
periodic payments made at least annually.
We believe your annuity payments should not be subject to the 10% penalty
under exception (3) or (4) above.
SPECIAL RULES FOR TAX-FAVORED RETIREMENT PROGRAMS
QUALIFIED PLANS AND TSAS
DISTRIBUTION RESTRICTIONS AND PENALTY TAXES
Certain retirement programs restrict the ability to make distributions from
funds that are attributed to contributions made from salary reductions,
generally until the plan participant:
o is age 59 1/2; or
o has died; or
o is disabled (special federal income tax definition); or
o is separated from service.
In addition, distribution from any unrestricted funds in the form of a
life-contingent annuity prior to age 59 1/2 may be subject to a 10% additional
income tax penalty unless the individual has separated from service. Also, the
Employee Retirement Income Security Act of 1974, as amended, may require that
benefits under the program be paid in a specified form or require spousal
consent to elect another form.
MINIMUM DISTRIBUTION RULES
Generally, a life-contingent annuity such as the Variable Immediate Annuity
contract will meet the rules requiring minimum distributions to be made from
qualified plans, 403(b) arrangements, and individual retirement annuities,
beginning in the year the individual is required to begin minimum
distributions. Minimum distributions generally must begin in the year the
individual is age 70 1/2, but may be delayed if the individual is age 70 1/2
but not retired from the employer sponsoring the plan. If the individual
elects a period certain on the life-contingent contract, the period certain
cannot be longer than the individual's life expectancy (or joint life
expectancies of the individual and a beneficiary) according to IRS tables.
IRAS
Your contract is designed to qualify as a traditional individual retirement
annuity under Section 408(b) of the Internal Revenue Code. Your rights under
the contract cannot be forfeited.
This prospectus contains the information that the IRS requires you to have
before you purchase an IRA. This section covers some of the special tax rules
that apply to traditional individual retirement arrangements. This disclosure
does not apply to Roth IRAs. You should be aware that an IRA is subject to
certain restrictions in order to qualify for its special treatment under the
federal income
tax rules.
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For further information about individual retirement annuities, you can read
Internal Revenue Service Publication 590 ("Individual Retirement Arrangements
(IRAs)"). This publication is usually updated annually, and can be obtained
from any IRS district office or IRS Web site (www.irs.gov).
We have not applied for an opinion letter from the IRS approving the form of
the contract as an IRA. Such IRS approval is a determination only as to the
form of the annuity and does not represent a determination of the merits of
the annuity as an investment.
We describe the amount and types of charges that may apply to your
rollover/transfer payments under "Charges and expenses" in this prospectus. We
describe the method of calculating payments under "Determining your monthly
payments" in this prospectus. We do not guarantee or project growth in your
variable income annuity option payments (as opposed to payments from the fixed
income annuity option discussed in "About our general account" under "More
information").
CANCELLATION
You can cancel a contract issued as an IRA by following the directions under
"Your right to cancel within a certain number of days." If you cancel an IRA
contract, we may be required to withhold tax, and must report the transaction
to the IRS. A contract cancellation could have an unfavorable tax impact.
FUNDING
This IRA may be funded through rollover or transfer of funds only and not
through "regular" IRA payments out of your current earnings. Direct transfers
may be made only from another traditional individual retirement arrangement.
Amounts may be rolled over from another individual retirement arrangement
within 60 days of when you receive the funds (unless such funds have already
been subject to rollover from one individual retirement arrangement to another
at any time during the past 12-month period). Amounts may also be rolled over
within 60 days of when you receive the funds or as a direct rollover of an
"eligible rollover distribution" from a qualified plan or 403(b) arrangement.
The owner of the Variable Immediate Annuity IRA must also have been the owner
of the individual retirement arrangement that is the source of funds (or the
qualified plan or 403(b) participant, as the case may be).
The surviving spouse beneficiary can roll over funds from a deceased owner's
individual retirement arrangement, or qualified plan, or 403(b) arrangement to
purchase the Variable Immediate Annuity. In addition, the Variable Immediate
Annuity may be purchased with rollover funds by a participant, a spouse, or a
former spouse in a qualified domestic relations order. Also, the Variable
Immediate Annuity can be transferred between spouses or former spouses as a
result of a court-ordered divorce or separation decree.
After-tax contributions and any amounts that are required to be distributed
under the "required minimum distribution rules" discussed below that apply to
individuals after they reach age 70 1/2 may not be rolled over. If amounts
that are not eligible to be rolled over are in fact rolled over to the
Variable Immediate Annuity IRA, they may be subject to a 6% excise tax.
REQUIRED MINIMUM DISTRIBUTIONS
April 1, following the calendar year in which you reach age 70 1/2 is the
"Required Beginning Date" - the date on which required minimum distributions
from an individual retirement arrangement are required to begin.
If you are past your Required Beginning Date, you may still purchase a
Variable Immediate Annuity IRA, through transfer or roll over of funds;
however, before the funds are transmitted to your contract, you must have
elected a life expectancy recalculation method of calculating minimum
distributions and you must take the minimum distribution for the year.
As discussed above under "Qualified plans and TSAs" - "Minimum distribution
rules," payments from the Variable Immediate Annuity IRA should meet required
minimum distribution rules that apply to life-contingent annuity
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payments, provided that life expectancy table rules are met for any period
certain selected and the rules described in this section are met.
TAXATION OF PAYMENTS
All payments from the Variable Immediate Annuity IRA are reported as being
fully taxable. If you establish the annuity through a direct transfer of
individual retirement arrangement funds that include any nondeductible
contributions, it is your responsibility to calculate the amount of each
payment that is not subject to tax, based on filings you have made with the
IRS and records you have been required to retain.
Distributions from an IRA are not eligible for ten-year averaging and
long-term capital gain treatment available in certain cases to distributions
from qualified plans.
BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS
You cannot get loans from an IRA. You cannot use an IRA as collateral for a
loan or other obligation. If you borrow against your IRA or use it as
collateral, its tax-favored status will be lost as of the first day of the tax
year in which this prohibited event occurs. If this happens, you must include
the value of the IRA in your federal gross income. Also, the early
distribution penalty tax of 10% will apply if you have not reached age 59 1/2
before the first day of that tax year.
FEDERAL AND STATE INCOME TAX WITHHOLDING
We must withhold federal income tax on the taxable portion of your periodic
annuity payments. If you do not have sufficient income tax withheld or do not
make sufficient estimated income tax payments, you may incur penalties under
the estimated income tax rules. Requests not to withhold federal income tax
must be made in writing before receiving benefits under the Variable Immediate
Annuity contract. Our processing office will provide forms for this purpose.
No election out of withholding is valid unless you provide us with the correct
Taxpayer Identification Number and a United States residence address.
Special withholding rules apply to foreign recipients and United States
citizens residing outside the United States. We do not discuss these rules
here. Certain states have indicated that annuity income tax withholding will
apply to payments from the Variable Immediate Annuity contract made to
residents. In some states, you may elect out of state withholding, even if
federal withholding applies. Generally, an election out of federal withholding
will also be considered an election out of state withholding. If you need more
information concerning a particular state or any required forms, call our
processing office at the toll-free number.
Periodic payments are generally subject to wage-bracket type withholding (as
if such payments were wages by an employer to an employee) unless you elect no
withholding. Unless you specify a different number of withholding exemptions,
we withhold assuming that you are married and claiming three withholding
exemptions. If you do not give us your correct Taxpayer Identification Number,
we withhold as if you are single with no exemptions.
Based on the assumption that you are married and claiming three withholding
exemptions, if you receive less than $14,880 in 2000 your payments will
generally be exempt from federal income tax withholding. You could specify a
different choice of withholding exemption or request that no tax be withheld.
Your withholding election remains effective unless you revoke it.
OTHER INFORMATION
The Treasury Department has the authority to issue guidelines prescribing the
circumstances in which your ability to direct your investment to a particular
portfolio within a separate account may cause you, rather than the insurance
company, to be treated as the owner of the portfolio shares attributable to
nonqualified annuity contract. In that case, income and gains attributable to
such portfolio shares would be included in your gross income for federal
income tax purposes. Under current rules, however, we believe that Equitable
Life, and not the owner of a nonqualified annuity contract, would be
considered the owner of the portfolio shares.
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SPECIAL RULES FOR CONTRACTS ISSUED IN
PUERTO RICO
Under current law, we treat income from the Variable Immediate Annuity
contract as U.S. source. A Puerto Rico resident is subject to U.S. taxation on
such U.S. source income. Only Puerto Rico source income of Puerto Rico
residents is excludable from U.S. taxation. Income from the Variable Immediate
Annuity contract is also subject to Puerto Rico tax. The calculation of the
taxable portion of amounts distributed from a Variable Immediate Annuity
contract may differ in the two jurisdictions. Therefore, you might have to
file both U.S. and Puerto Rico tax returns, showing different amounts of
income for each. Puerto Rico generally provides a credit against Puerto Rico
tax for U.S. tax paid. Depending on your personal situation and the timing of
the different
tax liabilities, you may not be able to take full advantage of
this credit.
IMPACT OF TAXES TO EQUITABLE LIFE
The contract provides that we may charge Separate Account A for taxes. We do
not now, but may in the future set up reserves for taxes.
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More information
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ABOUT SEPARATE ACCOUNT A
Each variable investment option is a subaccount of our Separate Account A. We
established Separate Account A in 1968 under special provisions of the New
York Insurance Law. These provisions prevent creditors from any other business
we conduct from reaching the assets we hold in our variable investment options
for owners of our variable annuity contracts. We are the legal owner of all of
the assets in Separate Account A and may withdraw any amounts that exceed our
reserves and other liabilities with respect to variable investment options
under our contracts. The results of Separate Account A's operations are
accounted for without regard to Equitable Life's other operations.
Separate Account A is registered under the Investment Company Act of 1940 and
is classified by that act as a "unit investment trust." The SEC, however, does
not manage or supervise Equitable Life or Separate Account A.
We reserve the right subject to compliance with laws that apply:
(1) to add variable investment options to, or to remove variable investment
options from, Separate Account A, or to add other separate accounts;
(2) to combine any two or more variable investment options;
(3) to transfer the assets we determine to be the shares of the class of
contracts to which the contracts belong from any variable investment option
to another variable investment option;
(4) to operate Separate Account A or any variable investment option as a
management investment company under the Investment Company Act of 1940 (in
which case, charges and expenses that otherwise would be assessed against
an underlying mutual fund would be assessed against Separate Account A or a
variable investment option directly);
(5) to deregister Separate Account A under the Investment Company Act of 1940;
(6) to restrict or eliminate any voting rights as to Separate Account A; and
(7) to cause one or more variable investment options to invest some or all of
their assets in a mutual fund other than or in addition to EQ Advisors
Trust.
We will notify you in advance if we make any changes that result in a material
change in the underlying investments of a variable investment option. We may
make other changes in the contracts that do not reduce any annuity benefit, or
other accrued rights or benefits.
ABOUT EQ ADVISORS TRUST
EQ Advisors Trust is registered under the Investment Company Act of 1940. It
is classified as an "open-end management investment company," more commonly
called a mutual fund. EQ Advisors Trust issues different shares relating to
each portfolio.
Equitable Life serves as the investment manager of EQ Advisors Trust. As such,
Equitable Life oversees the activities of the investment advisers with respect
to EQ Advisors Trust and is responsible for retaining or discontinuing the
services of those advisers. (Prior to September 1999, EQ Financial
Consultants, Inc. the predecessor to AXA Advisors, LLC and a subsidiary of
Equitable Life, served as investment manager to EQ Advisors Trust.)
For periods prior to October 18, 1999 the Alliance portfolios were part of The
Hudson River Trust. On October 18, 1999, these portfolios became the
corresponding portfolios of EQ Advisors Trust.
EQ Advisors Trust does not impose sales charges or "loads" for buying and
selling its shares. All dividends and other distributions on Trust shares are
reinvested in full. The Board of Trustees of EQ Advisors Trust may establish
additional portfolios or eliminate existing portfolios at any time. More
detailed information about EQ Advisors Trust, their investment objectives,
policies, restrictions, risks, expenses, and other aspects of its operations,
appear in the prospectus for EQ Advisors Trust attached at the end of this
prospectus, or in its SAI, which is available upon request.
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ABOUT OUR GENERAL ACCOUNT
Our general account supports all of our policy and contract guarantees,
including those that apply to the fixed income annuity option, as well as our
general obligations.
The general account is subject to regulation and supervision by the Insurance
Department of the State of New York and to the insurance laws and regulations
of all jurisdictions where we are authorized to do business. Because of
exemptions and exclusionary provisions that apply, interests in the general
account have not been registered under the Securities Act of 1933, nor is the
general account an investment company under the Investment Company Act of
1940.
We have been advised that the staff of the SEC has not reviewed the portions
of this prospectus that relate to the general account and the fixed income
annuity option. The disclosure, however, may be subject to certain provisions
of the federal securities laws relating to the accuracy and completeness of
statements made in prospectuses.
ABOUT YOUR VOTING RIGHTS
As the owner of the shares of EQ Advisors Trust we have the right to vote on
certain matters involving the portfolios, such as:
o the election of trustees.
o the formal approval of independent auditors selected for the EQ Advisors
Trust; or
o any other matters described in the prospectuses for EQ Advisors Trust or
requiring a shareholders' vote under the Investment Company Act of 1940.
We will give contract owners the opportunity to instruct us how to vote the
number of shares attributable to their contracts if a shareholder vote is
taken. If we do not receive instructions in time from all contract owners, we
will vote the shares of a portfolio for which no instructions have been
received in the same proportion as we vote shares of that portfolio for which
we have received instructions. We will also vote any shares that we are
entitled to vote directly because of amounts we have in a portfolio in the
same proportions that contract owners vote.
VOTING RIGHTS OF OTHERS
Currently, we control EQ Advisors Trust. EQ Advisors Trust shares are sold to
our separate accounts and an affiliated qualified plan trust. In addition,
shares of EQ Advisors Trust are held by separate accounts of insurance
companies both affiliated and unaffiliated with us. Shares held by these
separate accounts will probably be voted according to the instructions of the
owners of insurance policies and contracts issued by those insurance
companies. While this will dilute the effect of the voting instructions of the
contract owners, we currently do not foresee any disadvantages because of
this. The Board of Trustees of EQ Advisors Trust intends to monitor events in
order to identify any material irreconcilable conflicts that may arise and to
determine what action, if any, should be taken in response. If we believe that
a response to any of those events insufficiently protects our contract owners,
we will see to it that appropriate action is taken.
SEPARATE ACCOUNT A VOTING RIGHTS
If actions relating to Separate Account A require contract owner approval,
contract owners will be entitled to cast the number of votes equal to the
dollar amount of reserves we are holding in a variable investment option for
such contract owner divided by the annuity unit value for that option. We will
cast votes attributable to any amounts we have in the variable investment
options in the same proportion as votes cast by contract owners.
CHANGES IN APPLICABLE LAW
The voting rights we describe in this prospectus are created under applicable
federal securities laws. To the extent that those laws or the regulations
published under those laws eliminate the necessity to submit matters for
approval by persons having voting rights in separate accounts of insurance
companies, we reserve the right to proceed in accordance with those laws or
regulations.
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ABOUT LEGAL PROCEEDINGS
Equitable Life and its affiliates are parties to various legal proceedings. In
our view, none of these proceedings is likely to have a material adverse
effect upon Separate Account A, our ability to meet our obligations under the
contracts, or the distribution of the contracts.
FINANCIAL STATEMENTS
The financial statements of Separate Account No. A, as well as the
consolidated financial statements of Equitable Life are in the SAI. The SAI is
available free of charge. You may request one by writing to our processing
office or calling 1-800-245-1230.
DISTRIBUTION OF THE CONTRACTS
AXA Advisors, LLC ("AXA Advisors"), the successor to EQ Financial Consultants,
Inc. and an affiliate of Equitable Life, is the distributor of the contracts
and has responsibility for sales and marketing functions for Separate Account
A. AXA Advisors serves as the principal underwriter of Separate Account A. AXA
Advisors is registered with the SEC as a broker-dealer and is a member of the
National Association of Securities Dealers, Inc. AXA Advisors' principal
business address is 1290 Avenue of the Americas, New York, NY 10104. Pursuant
to a Distribution and Servicing Agreement between AXA Advisors, Equitable
Life, and certain of Equitable Life's separate accounts, including Separate
Account A, Equitable Life paid AXA Advisors distribution fees of $325,380 for
1999, $325,380 for 1998 and $325,380 for 1997, as distributor of certain
contracts and as the principal underwriter of Separate Account A.
The contracts will be sold by financial professionals who are registered
representatives of AXA Advisors and its affiliates who are also our licensed
insurance agents, as well as by affiliated and unaffiliated broker-dealers
with which AXA Advisors or Equitable Distributors, Inc., an indirect wholly
owned subsidiary of Equitable Life, has entered into selling agreements. AXA
Advisors may also receive compensation and reimbursement for its marketing
services under the terms of its distribution agreement with Equitable Life.
The offering of the contracts is intended to be continuous.
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Appendix: Examples of how we determine variable annuity payments for your
single premium payment and for variable investment option transfers
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The examples below show how we would determine the variable annuity payments for
a given variable investment option at original issue, and upon transfer from
that variable investment option to another after variable annuity payments have
begun.
We assume that $100,000, after we deduct any fees that apply, was used to
purchase a Variable Income Annuity contract under the Alliance Common Stock
variable investment option on 12/23/99. Based on an AIR of 5%, let us say that
the resulting initial monthly payment of $800 beginning on that date, is for a
female age 75 under a life annuity with 10-year period certain form. This
payment represents, for purposes of this example, 80 Alliance Common Stock
variable annuity units purchased, and is fixed for the first two payments and
varies thereafter according to the Alliance Common Stock performance compared
to the AIR.
We further assume that on the first contract date anniversary, 12/26/00, we
receive a request for a 40% transfer of variable annuity units from the
Alliance Common Stock variable investment option to the Alliance Global
variable investment option. Note that since payments (after the initial two)
are based on an average unit annuity value for two months prior, a change in
the payments resulting from the transfer does not occur until two months after
the effective date of transfer.
<TABLE>
<CAPTION>
<S> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
AS OF 12/23/99 (ORIGINAL ISSUE)
- ---------------------------------------------------------------------------------------------------------------
(1) Premium applied* $100,000
(2) Initial monthly payment on 1/24/00 $800
(3) Alliance Common Stock option annuity unit value (12/23/99) $10.00
(4) Number of Alliance Common Stock variable annuity units: (2)/(3) 80
- ---------------------------------------------------------------------------------------------------------------
AS OF 12/26/00 (ANNUITANT ELECTION TO TRANSFER 40% FROM ALLIANCE COMMON STOCK TO ALLIANCE GLOBAL OPTION)
- ---------------------------------------------------------------------------------------------------------------
(5) Alliance Common Stock option annuity unit value (12/26/00) $11.25
(6) Alliance Global option annuity unit value (12/26/00) $10.00
(7) Portion of annuity units transferred to Alliance Global option: 40% x (4) x (5)/(6) 36
(8) Remaining annuity units in Alliance Common Stock option: 60% x (4) 48
- ---------------------------------------------------------------------------------------------------------------
AS OF 12/26/00 (BENEFIT PAYMENT BASED ON ANNUITY UNITS OWNED IN OCTOBER 2000)
- ---------------------------------------------------------------------------------------------------------------
(9) Average Alliance Common Stock option annuity unit value (October 2000) $10.50
(10) Monthly payment under Alliance Common Stock option on 12/26/00: (4) x (9) $840
- ---------------------------------------------------------------------------------------------------------------
AS OF 1/23/01 (BENEFIT PAYMENT BASED ON ANNUITY UNITS OWNED IN NOVEMBER 2000)
- ---------------------------------------------------------------------------------------------------------------
(11) Average Alliance Common Stock option annuity unit value (November 2000) $11.25
(12) Monthly payment under Alliance Common Stock option on 1/24/00: (4) x (11) $900
- ---------------------------------------------------------------------------------------------------------------
AS OF 2/23/01 (BENEFIT PAYMENT BASED ON ANNUITY UNITS OWNED IN DECEMBER 2000)
- ---------------------------------------------------------------------------------------------------------------
(13) Average Alliance Common Stock option annuity unit value (December 2000) $11.50
(14) Average Alliance Global option annuity unit value (December 2000) $11.00
(15) Monthly payment under Alliance Common Stock option on 2/23/01: (8) x (13) $552
(16) Monthly payment under Alliance Global option on 2/23/01: (7) x (14) $396
(17) Total monthly payment on 2/23/01: (15) + (16) $948
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
* After deduction of the $350 administrative expense charge.
Annuity unit values shown in the above example are hypothetical and used for
illustrative purposes only. The example is not a representation or projection of
the amount of annuity payments that would actually be received under the
contract.
<PAGE>
Statement of additional
information
- --------------------------------------------------------------------------------
TABLE OF CONTENTS
PAGE
Annuity unit values 2
Custodian and independent accountants 3
Financial statements 3
HOW TO OBTAIN A VARIABLE IMMEDIATE ANNUITY STATEMENT OF ADDITIONAL INFORMATION
FOR SEPARATE ACCOUNT A
Send this request form to:
Equitable Life
Variable Immediate Annuity
P.O. Box 2494 New York, NY 10116-2494
- ------------------------------------------------------------------------------
Please send me a Variable Immediate Annuity SAI for Separate Account A dated
May 1, 2000.
- ------------------------------------------------------------------------------
Name:
- ------------------------------------------------------------------------------
Address:
- ------------------------------------------------------------------------------
City State Zip
888-1272
<PAGE>
Variable Immediate Annuity
A combination variable and fixed immediate
annuity contract
STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
- --------------------------------------------------------------------------------
This statement of additional information ("SAI") is not a prospectus. It should
be read in conjunction with the related Variable Immediate Annuity prospectus,
dated May 1, 2000. That prospectus provides detailed information concerning the
contracts and the variable investment options, as well as the fixed income
annuity option, that fund the contracts. Each variable investment option is a
subaccount of Equitable Life's Separate Account A. The fixed income annuity
option is part of Equitable Life's general account. Definitions of special terms
used in the SAI are found in the prospectus.
A copy of the prospectus is available free of charge by writing the processing
office (Post Office Box 2494, New York, New York 10116-2494), by calling
1-800-245-1230 toll free, or by contacting your financial professional.
TABLE OF CONTENTS
Annuity unit values 2
Custodian and independent accountants 3
Financial statements 3
Copyright 2000 The Equitable Life Assurance Society of the United States.
1290 Avenue of the Americas. New York, New York 10104. All rights reserved.
888-1272
<PAGE>
- --------------------------------------------------------------------------------
2
ANNUITY UNIT VALUES
We fixed the annuity unit value for the variable investment options of the
Variable Immediate Annuity contract on October 1, 1997 for contracts with AIR of
5% and 3 1/2 % a year, respectively. The following table shows the annuity unit
values on October 1, 1997, December 31, 1998 and December 31, 1999 (rounded to
two decimal places). For each valuation period, the annuity unit value is the
annuity unit value for the immediately preceding valuation period multiplied by
the adjusted net investment factor under the contract.
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------
VARIABLE INVESTMENT OPTIONS AIR 10/1/97 12/31/97 12/31/98 12/31/99
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Alliance Common Stock 3 1/2% $1.53 $1.55 $1.93 $2.32
5% $1.48 $1.50 $1.84 $2.18
- -------------------------------------------------------------------------------------------------------------
Alliance Conservative Investors 3 1/2% $1.16 $1.15 $1.26 $1.34
5% $1.12 $1.11 $1.20 $1.25
- -------------------------------------------------------------------------------------------------------------
Alliance Equity Index 3 1/2% $1.62 $1.63 $2.01 $2.33
5% $1.57 $1.57 $1.91 $2.18
- -------------------------------------------------------------------------------------------------------------
Alliance Global 3 1/2% $1.28 $1.23 $1.44 $1.92
5% $1.24 $1.19 $1.37 $1.80
- -------------------------------------------------------------------------------------------------------------
Alliance Growth and Income 3 1/2% $1.52 $1.49 $1.73 $1.97
5% $1.47 $1.44 $1.64 $1.85
- -------------------------------------------------------------------------------------------------------------
Alliance Growth Investors 3 1/2% $1.33 $1.29 $1.48 $1.80
5% $1.29 $1.25 $1.41 $1.69
- -------------------------------------------------------------------------------------------------------------
Alliance High Yield 3 1/2% $1.39 $1.40 $1.28 $1.19
5% $1.35 $1.35 $1.22 $1.11
- -------------------------------------------------------------------------------------------------------------
Alliance Intermediate Government Securities 3 1/2% $1.04 $1.05 $1.09 $1.05
5% $1.01 $1.02 $1.04 $0.98
- -------------------------------------------------------------------------------------------------------------
Alliance International 3 1/2% $1.15 $1.03 $1.09 $1.44
5% $1.11 $0.99 $1.04 $1.36
- -------------------------------------------------------------------------------------------------------------
Alliance Money Market 3 1/2% $1.03 $1.03 $1.05 $1.06
5% $1.00 $1.00 $1.00 $0.99
- -------------------------------------------------------------------------------------------------------------
Alliance Quality Bond 3 1/2% $1.09 $1.10 $1.15 $1.08
5% $1.06 $1.06 $1.09 $1.02
- -------------------------------------------------------------------------------------------------------------
Alliance Small Cap Growth 3 1/2% $1.31 $1.23 $1.39 $1.71
5% $1.30 $1.22 $1.36 $1.64
- -------------------------------------------------------------------------------------------------------------
EQ/Aggressive Stock 3 1/2% $1.52 $1.37 $1.32 $1.51
5% $1.48 $1.32 $1.26 $1.42
- -------------------------------------------------------------------------------------------------------------
EQ/Balanced 3 1/2% $1.27 $1.24 $1.41 $1.60
5% $1.23 $1.20 $1.34 $1.50
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
3
The net investment factor is:
(a/b) - c
where:
(a)is the value of the variable investment option's shares of the corresponding
portfolio at the end of the valuation period. Any amounts allocated to or
withdrawn from the variable investment option for the valuation period are
not taken into account. For this purpose, we use the share value reported to
us by EQ Advisors Trust. This share value is after the deduction of fees and
expenses of EQ Advisors Trust.
(b)is the value of the variable investment options shares of the corresponding
portfolio at the end of the preceding valuation period. (Any amounts
allocated or withdrawn for that valuation period are taken into account.)
(c)is the daily mortality and expense risk charge and administrative charge
relating to the contracts, times the number of calendar days in the valuation
period, plus any charge for taxes or amounts set aside as a reserve for
taxes. The daily charges are at an effective annual rate not to exceed a
total of 1.55%.
For each valuation period, the adjusted net investment factor is equal to the
net investment factor reduced for each day in the valuation period by:
o .00013366 of the net investment factor for a contract with an assumed base
rate of net investment return of 5% a year; or
o .00009425 of the net investment factor for a contract with an assumed base
rate of net investment return of 3 1/2%.
Because of this adjustment, the annuity unit value rises and falls depending on
whether the actual rate of net investment return (after charges) is higher or
lower than the assumed base rate. The average annuity unit value for a calendar
month is equal to the average of the annuity unit values for such month.
ILLUSTRATION OF CHANGES IN ANNUITY UNIT VALUES
To show how we determine variable annuity payments from month to month, assume
that the net contribution paid for a contract is enough to fund a Variable
Immediate Annuity contract with a monthly payment of $100. Also assume that the
annuity unit value of the variable investment option for the valuation period
that includes the due date of the first annuity payment is $3.74. The number of
annuity units credited under the contract would be 26.74 (100 divided by 3.74 =
26.74). Based on an average annuity unit value of $3.56 in April 2000, the
annuity payment due in June 2000 would be $95.19 (the number of units (26.74)
times $3.56).
CUSTODIAN AND INDEPENDENT ACCOUNTANTS
Equitable Life is the custodian for shares of EQ Advisors Trust owned by
Separate Account A.
The financial statements of Separate Account A for the period ended December 31,
1999 and 1998, and the consolidated financial statements of Equitable Life at
December 31, 1999 and 1998 and for each of the three years ended December 31,
1999 included in this SAI have been so included in reliance on the reports of
PricewaterhouseCoopers LLP, independent accountants, given on the authority of
such firm as experts in accounting and auditing.
FINANCIAL STATEMENTS
The consolidated financial statements of Equitable Life included herein should
be considered only as bearing upon the ability of Equitable Life to meet its
obligations under the contracts.
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
<TABLE>
<CAPTION>
INDEX TO FINANCIAL STATEMENTS
<S> <C>
Report of Independent Accountants.............................................................. FSA-2
Financial Statements:
Statements of Assets and Liabilities, December 31, 1999................................ FSA-3
Statements of Operations for the Year Ended December 31, 1999.......................... FSA-7
Statements of Changes in Net Assets for the Years Ended December 31, 1999 and 1998..... FSA-11
Notes to Financial Statements.......................................................... FSA-19
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
Report of Independent Accountants.............................................................. F-1
Consolidated Financial Statements:
Consolidated Balance Sheets, December 31, 1999 and 1998................................ F-2
Consolidated Statements of Earnings, Years Ended December 31, 1999, 1998 and 1997...... F-3
Consolidated Statements of Shareholder's Equity, Years Ended December 31, 1999,
1998 and 1997...................................................................... F-4
Consolidated Statements of Cash Flows, Years Ended December 31, 1999, 1998 and 1997.... F-5
Notes to Consolidated Financial Statements............................................. F-6
</TABLE>
FSA-1
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of
The Equitable Life Assurance Society of the United States
and Contractowners of Separate Account A
of The Equitable Life Assurance Society of the United States
In our opinion, the accompanying statements of assets and liabilities and the
related statements of operations and of changes in net assets present fairly, in
all material respects, the financial position of the following Variable
Investment Options: Alliance Intermediate Government Securities, Alliance Money
Market, Alliance Quality Bond, Alliance High Yield, Alliance Common Stock,
Alliance Equity Index, Alliance Growth and Income, EQ/Alliance Premier Growth,
Calvert Socially Responsible, Capital Guardian Research, Capital Guardian US
Equity, MFS Growth with Income, MFS Research, Merrill Lynch Basic Value Equity,
EQ/Putnam Growth and Income Value, EQ/Putnam Investors Growth, T. Rowe Price
Equity Income, Alliance Global, Alliance International, Capital Guardian
International, Morgan Stanley Emerging Markets Equity, EQ/Putnam International
Equity, T. Rowe Price International Stock, Alliance Aggressive Stock, Alliance
Small Cap Growth, EQ/Evergreen, Lazard Small Cap, MFS Emerging Growth Companies,
Warburg Pincus Small Company Value, Alliance Balanced, Alliance Conservative
Investors, Alliance Growth Investors, EQ/Evergreen Foundation, Merrill Lynch
World Strategy and EQ/Putnam Balanced ("EQ Advisors Trust Variable Investment
Options"), separate Variable Investment Options of The Equitable Life Assurance
Society of the United States ("Equitable Life") Separate Account A at December
31, 1999 and the results of each of their operations and changes in each of
their net assets for the periods indicated, in conformity with accounting
principles generally accepted in the United States of America. These financial
statements are the responsibility of Equitable Life's management; our
responsibility is to express an opinion on these financial statements based on
our audits. We conducted our audits of these financial statements in accordance
with auditing standards generally accepted in the United States of America which
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management and evaluating the overall
financial statement presentation. We believe that our audits, which included
confirmation of shares owned in The EQ Advisors Trust at December 31, 1999 with
the transfer agent, provide a reasonable basis for the opinion expressed above.
PricewaterhouseCoopers LLP
New York, New York
February 1, 2000
FSA-2
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
FIXED INCOME OPTIONS:
-------------------------------------------------------------------
ALLIANCE
INTERMEDIATE ALLIANCE ALLIANCE ALLIANCE
GOVERNMENT MONEY QUALITY HIGH
SECURITIES MARKET BOND YIELD
------------ ------------ ----------- ------------
<S> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 60,082,884............................... $57,906,717
163,287,918............................... $161,838,990
94,146,952............................... $87,638,085
215,503,539............................... $162,851,355
7,081,410,266...............................
1,241,149,518...............................
738,153,596...............................
102,033,512...............................
Receivable for Trust shares sold....................... -- 1,028,717 -- --
Due from Equitable Life's General Account
(Note 3)............................................ 47,887 -- -- 121,855
----------- ------------ ----------- ------------
Total assets.................................. 57,954,604 162,867,707 87,638,085 162,973,210
----------- ------------ ----------- ------------
LIABILITIES:
Payable for Trust shares purchased.................... 51,887 -- 44,501 109,010
Due to Equitable Life's General Account
(Note 3)............................................ -- 1,561,127 362,870 --
----------- ------------ ----------- ------------
Total liabilities............................. 51,887 1,561,127 407,371 109,010
----------- ------------ ----------- ------------
NET ASSETS............................................. $57,902,717 $161,306,580 $87,230,714 $162,864,200
=========== ============ =========== ============
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 308,836 $ 277,983 $ 208,331 $ 317,227
Net Assets attributable to Contractowners.............. 57,593,881 161,028,597 87,022,383 162,546,973
----------- ------------ ----------- ------------
NET ASSETS............................................. $57,902,717 $161,306,580 $87,230,714 $162,864,200
=========== ============ =========== ============
</TABLE>
<TABLE>
<CAPTION>
EQUITY OPTIONS:
------------------------------------------------------------------------
ALLIANCE ALLIANCE ALLIANCE EQ/ALLIANCE
COMMON EQUITY GROWTH & PREMIER
STOCK INDEX INCOME GROWTH
-------------- -------------- ------------ ------------
<S> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 60,082,884...............................
163,287,918...............................
94,146,952...............................
215,503,539...............................
7,081,410,266............................... $9,526,714,337
1,241,149,518............................... $1,652,266,720
738,153,596............................... $870,429,052
102,033,512............................... $112,446,542
Receivable for Trust shares sold....................... -- -- -- --
Due from Equitable Life's General Account
(Note 3)............................................ 4,754,978 1,758,325 2,895,540 3,036,081
-------------- -------------- ------------ ------------
Total assets.................................. 9,531,469,315 1,654,025,045 873,324,592 115,482,623
-------------- -------------- ------------ ------------
LIABILITIES:
Payable for Trust shares purchased.................... 4,480,463 1,330,619 2,571,390 3,059,843
Due to Equitable Life's General Account
(Note 3)............................................ -- -- -- --
-------------- -------------- ------------ ------------
Total liabilities............................. 4,480,463 1,330,619 2,571,390 3,059,843
-------------- -------------- ------------ ------------
NET ASSETS............................................. $9,526,988,852 $1,652,694,426 $870,753,202 $112,422,780
============== ============== ============ ============
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 4,405,355 $ 155,358 $ 298,729 $ 6,094
Net Assets attributable to Contractowners.............. 9,522,583,497 1,652,539,068 870,454,473 112,416,686
-------------- -------------- ------------ ------------
NET ASSETS............................................. $9,526,988,852 $1,652,694,426 $870,753,202 $112,422,780
============== ============== ============ ============
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-3
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
---------------------------------------------------------------------------
CALVERT CAPITAL CAPITAL
SOCIALLY GUARDIAN GUARDIAN MFS GROWTH
RESPONSIBLE RESEARCH U.S. EQUITY WITH INCOME MFS RESEARCH
----------- --------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 2,446,950............................... $2,619,135
904,638............................... $933,921
1,359,966............................... $1,434,095
2,105,001............................... $2,228,502
142,661,215............................... $170,641,453
95,590,228...............................
88,147,694...............................
137,610...............................
148,440,785...............................
Receivable for Trust shares sold ................. -- -- -- -- --
Due from Equitable Life's General Account
(Note 3).......................................... -- 17,498 34,287 97,247 638,785
---------- -------- ---------- ---------- ------------
Total assets................................ 2,619,135 951,419 1,468,382 2,325,749 171,280,238
---------- -------- ---------- ---------- ------------
LIABILITIES:
Payable for Trust shares purchased................... -- 17,498 34,287 97,247 638,743
Due to Equitable Life's General Account
(Note 3).......................................... -- -- -- -- --
---------- -------- ---------- ---------- ------------
Total liabilities........................... -- 17,498 34,287 97,247 638,743
---------- -------- ---------- ---------- ------------
NET ASSETS........................................... $2,619,135 $933,921 $1,434,095 $2,228,502 $170,641,495
========== ======== ========== ========== ============
Amount retained by Equitable Life in
Separate Account A (Note 6)....................... $2,162,831 $ 25,662 $ 26,093 $ 25,961 $ 68,297
Net Assets attributable to Contractowners............ 456,304 908,259 1,408,002 2,202,541 170,573,198
---------- -------- ---------- ---------- ------------
NET ASSETS........................................... $2,619,135 $933,921 $1,434,095 $2,228,502 $170,641,495
========== ======== ========== ========== ============
</TABLE>
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
----------------------------------------------------------------
MERRILL
LYNCH EQ/PUTNAM EQ/PUTNAM
BASIC VALUE GROWTH & INVESTORS T. ROWE PRICE
EQUITY INCOME VALUE GROWTH EQUITY INCOME
----------- ------------ --------- -------------
<S> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 2,446,950...............................
904,638...............................
1,359,966...............................
2,105,001...............................
142,661,215...............................
95,590,228............................... $96,711,476
88,147,694............................... $82,894,604
137,610............................... $144,275
148,440,785............................... $146,836,293
Receivable for Trust shares sold ................. -- -- --
Due from Equitable Life's General Account
(Note 3).......................................... 387,406 167,010 -- 305,349
----------- ----------- -------- ------------
Total assets................................ 97,098,882 83,061,614 144,275 147,141,642
----------- ----------- -------- ------------
LIABILITIES:
Payable for Trust shares purchased................... 387,381 167,010 -- 305,349
Due to Equitable Life's General Account
(Note 3).......................................... -- -- -- --
----------- ----------- -------- ------------
Total liabilities........................... 387,381 167,010 -- 305,349
----------- ----------- -------- ------------
NET ASSETS........................................... $96,711,501 $82,894,604 $144,275 $146,836,293
=========== =========== ======== ============
Amount retained by Equitable Life in
Separate Account A (Note 6)....................... $ 92,069 $ 37,968 $ 25,183 $ 93,736
Net Assets attributable to Contractowners............ 96,619,432 82,856,636 119,092 146,742,557
----------- ----------- -------- ------------
NET ASSETS........................................... $96,711,501 $82,894,604 $144,275 $146,836,293
=========== =========== ======== ============
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-4
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
----------------------------------------------------------------------
CAPITAL MORGAN STANLEY
ALLIANCE ALLIANCE GUARDIAN EMERGING
GLOBAL INTERNATIONAL INTERNATIONAL MARKETS EQUITY
-------------- ------------- ------------- --------------
<S> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 766,621,720............................... $1,012,530,908
150,121,195............................... $170,754,238
52,943............................... $60,652
64,520,081............................... $70,941,248
232,702...............................
94,262,015...............................
2,936,518,572...............................
132,783,835...............................
585,194...............................
Receivable for Trust shares sold...................... -- -- -- --
Due from Equitable Life's General Account
(Note 3)............................................ 1,115,281 705,332 23,763 340,817
-------------- ------------ ------- -----------
Total assets.................................. 1,013,646,189 171,459,570 84,415 71,282,065
-------------- ------------ ------- -----------
LIABILITIES:
Payable for Trust shares purchased.................... 1,236,460 705,945 -- 340,817
Due to Equitable Life's General Account
(Note 3)............................................ -- -- -- --
-------------- ------------ ------- -----------
Total liabilities............................. 1,236,460 705,945 -- 340,817
-------------- ------------ ------- -----------
NET ASSETS............................................. $1,012,409,729 $170,753,625 $84,415 $70,941,248
============== ============ ======= ===========
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 327,840 $ 296,064 $24,903 $ 1,815,808
Net Assets attributable to Contractowners.............. 1,012,081,889 170,457,561 59,512 69,125,440
-------------- ------------ ------- -----------
NET ASSETS............................................. $1,012,409,729 $170,753,625 $84,415 $70,941,248
============== ============ ======= ===========
</TABLE>
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
-------------------------------------------------------------------------
EQ/PUTNAM T. ROWE PRICE ALLIANCE ALLIANCE
INTERNATIONAL INTERNATIONAL AGGRESSIVE SMALL CAP EQ/
EQUITY STOCK STOCK GROWTH EVERGREEN
------------- ------------- -------------- ------------ ---------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 766,621,720...............................
150,121,195...............................
52,943...............................
64,520,081...............................
232,702............................... $247,014
94,262,015............................... $112,485,497
2,936,518,572............................... $3,103,346,996
132,783,835............................... $157,961,371
585,194............................... $601,728
Receivable for Trust shares sold...................... -- -- -- 8,394,247 4,299
Due from Equitable Life's General Account
(Note 3)............................................ -- 501,225 2,308,834 -- --
-------- ------------ -------------- ------------ --------
Total assets.................................. 247,014 112,986,722 3,105,655,830 166,355,618 606,027
-------- ------------ -------------- ------------ --------
LIABILITIES:
Payable for Trust shares purchased.................... -- 501,225 2,277,652 -- --
Due to Equitable Life's General Account
(Note 3)............................................ -- -- -- 8,378,678 4,299
-------- ------------ -------------- ------------ --------
Total liabilities............................. -- 501,225 2,277,652 8,378,678 4,299
-------- ------------ -------------- ------------ --------
NET ASSETS............................................. $247,014 $112,485,497 $3,103,378,178 $157,976,940 $601,728
======== ============ ============== ============ ========
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 25,835 $ 65,454 $ 622,815 $ 19,011 $ 24,984
Net Assets attributable to Contractowners.............. 221,179 112,420,043 3,102,755,363 157,957,929 576,744
-------- ------------ -------------- ------------ --------
NET ASSETS............................................. $247,014 $112,485,497 $3,103,378,178 $157,976,940 $601,728
======== ============ ============== ============ ========
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-5
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF ASSETS AND LIABILITIES (CONCLUDED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONCLUDED): ASSET ALLOCATION OPTIONS:
----------------------------------------- ------------------------------
MFS
LAZARD EMERGING WARBURG PINCUS ALLIANCE
SMALL GROWTH SMALL COMPANY ALLIANCE CONSERVATIVE
CAP COMPANIES VALUE BALANCED INVESTORS
------- ------------ -------------- -------------- ------------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 14,966............................... $15,432
481,452,421............................... $706,184,521
77,137,358............................... $77,385,072
1,293,423,216............................... $1,447,662,131
133,146,188............................... $142,502,666
891,309,537...............................
149,393...............................
11,818,349...............................
45,826,487...............................
Receivable for Trust shares sold ................... -- -- -- 385,629 --
Due from Equitable Life's General Account
(Note 3)............................................ 548 3,490,310 237,134 -- 217,358
------- ------------ ----------- -------------- ------------
Total assets.................................. 15,980 709,674,831 77,622,206 1,448,047,760 142,720,024
------- ------------ ----------- -------------- ------------
LIABILITIES:
Payable for Trust shares purchased.................... 650 3,448,913 233,408 -- 211,005
Due to Equitable Life's General Account
(Note 3)............................................ -- -- -- 161,997 --
------- ------------ ----------- -------------- ------------
Total liabilities............................. 650 3,448,913 233,408 161,997 211,005
------- ------------ ----------- -------------- ------------
NET ASSETS............................................. $15,330 $706,225,918 $77,388,798 $1,447,885,763 $142,509,019
======= ============ =========== ============== ============
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 15 $ 7,255 $ 105,004 $ 416,773 $ 372,648
Net Assets attributable to Contractowners.............. 15,315 706,218,663 77,283,794 1,447,468,990 142,136,371
------- ------------ ----------- -------------- ------------
NET ASSETS............................................. $15,330 $706,225,918 $77,388,798 $1,447,885,763 $142,509,019
======= ============ =========== ============== ============
</TABLE>
<TABLE>
<CAPTION>
ASSET ALLOCATION OPTIONS:
------------------------------------------------------------------
ALLIANCE MERRILL LYNCH
GROWTH EQ/EVERGREEN WORLD EQ/PUTNAM
INVESTORS FOUNDATION STRATEGY BALANCED
-------------- ------------ ------------- -----------
<S> <C> <C> <C> <C>
ASSETS:
Investments in shares of The Trust,
at market value (Note 2):
Cost: $ 14,966...............................
481,452,421...............................
77,137,358...............................
1,293,423,216...............................
133,146,188...............................
891,309,537............................... $1,100,873,895
149,393............................... $153,654
11,818,349............................... $12,982,709
45,826,487............................... $43,845,686
Receivable for Trust shares sold ................... -- -- -- --
Due from Equitable Life's General Account
(Note 3)............................................ 1,396,249 13,625 1,005,478 216,893
-------------- -------- ----------- -----------
Total assets.................................. 1,102,270,144 167,279 13,988,187 44,062,579
-------------- -------- ----------- -----------
LIABILITIES:
Payable for Trust shares purchased.................... 1,456,888 13,625 5,478 216,893
Due to Equitable Life's General Account
(Note 3)............................................ -- -- -- --
-------------- -------- ----------- -----------
Total liabilities............................. 1,456,888 13,625 5,478 216,893
-------------- -------- ----------- -----------
NET ASSETS............................................. $1,100,813,256 $153,654 $13,982,709 $43,845,686
============== ======== =========== ===========
Amount retained by Equitable Life in
Separate Account A (Note 6)......................... $ 357,746 $ 25,151 $ 1,984,816 $ 91,201
Net Assets attributable to Contractowners.............. 1,100,455,510 128,503 11,997,893 43,754,485
-------------- -------- ----------- -----------
NET ASSETS............................................. $1,100,813,256 $153,654 $13,982,709 $43,845,686
============== ======== =========== ===========
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-6
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
FIXED INCOME OPTIONS:
----------------------------------------------------------------------
ALLIANCE
INTERMEDIATE
GOVERNMENT ALLIANCE ALLIANCE ALLIANCE HIGH
SECURITIES MONEY MARKET QUALITY BOND YIELD
----------- ------------ ------------ -------------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust..................... $ 2,937,999 $ 6,632,786 $ 4,553,232 $ 19,034,530
----------- ----------- ----------- ------------
Expenses (Note 3):
Asset-based charges.......................... 758,673 1,934,895 1,173,541 2,413,928
Less: Reduction for expense limitation............. 7,493 58,246 -- 2,104
----------- ----------- ----------- ------------
Net expenses................................. 751,180 1,876,649 1,173,541 2,411,824
----------- ----------- ----------- ------------
NET INVESTMENT INCOME (LOSS)....................... 2,186,819 4,756,137 3,379,691 16,622,706
----------- ----------- ----------- ------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.......... 302,141 1,316,696 191,231 (8,436,859)
Realized gain distribution from
The Trust................................. -- 4,911 318,916 180,607
----------- ----------- ----------- ------------
Net realized gain (loss)........................ 302,141 1,321,607 510,147 (8,256,252)
Change in unrealized appreciation
(depreciation) of investments................ (3,147,010) (1,138,368) (6,837,979) (16,895,279)
----------- ----------- ----------- ------------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.................................. (2,844,869) 183,239 (6,327,832) (25,151,531)
----------- ----------- ----------- ------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2).............. $ (658,050) $ 4,939,376 $(2,948,141) $ (8,528,825)
=========== =========== =========== ============
</TABLE>
<TABLE>
<CAPTION>
EQUITY OPTIONS:
---------------------------------------------------------------------------
EQ/ALLIANCE
ALLIANCE COMMON ALLIANCE EQUITY ALLIANCE GROWTH PREMIER
STOCK INDEX & INCOME GROWTH (A)
--------------- --------------- --------------- -----------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust..................... $ 51,104,424 $ 14,960,854 $ 1,997,933 $ 66,348
-------------- ------------ ------------ -----------
Expenses (Note 3):
Asset-based charges.......................... 121,577,640 19,026,732 9,772,896 233,917
Less: Reduction for expense limitation............. 6,643,743 -- -- --
-------------- ------------ ------------ -----------
Net expenses................................. 114,933,897 19,026,732 9,772,896 233,917
-------------- ------------ ------------ -----------
NET INVESTMENT INCOME (LOSS)....................... (63,829,473) (4,065,878) (7,774,963) (167,569)
-------------- ------------ ------------ -----------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.......... 304,121,396 121,577,058 5,912,796 706,229
Realized gain distribution from
The Trust................................. 1,263,337,800 12,305,386 78,401,040 232,218
-------------- ------------ ------------ -----------
Net realized gain (loss)........................ 1,567,459,196 133,882,444 84,313,836 938,447
Change in unrealized appreciation
(depreciation) of investments................ 320,673,163 118,641,942 39,845,140 10,413,030
-------------- ------------ ------------ -----------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.................................. 1,888,132,359 252,524,386 124,158,976 11,351,477
-------------- ------------ ------------ -----------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2).............. $1,824,302,886 $248,458,508 $116,384,013 $11,183,908
============== ============ ============ ===========
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-7
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
Equity Options (Continued):
-----------------------------------------------------------------------
CAPITAL CAPITAL MFS GROWTH
CALVERT SOCIALLY GUARDIAN GUARDIAN WITH
RESPONSIBLE (A) RESEARCH (A) U.S. EQUITY (A) INCOME (A)
---------------- ------------ --------------- ----------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust..................... $ -- $ 1,409 $ 2,643 $ 6,665
-------- ------- ------- --------
Expenses (Note 3):
Asset-based charges.......................... 852 1,505 3,056 4,451
Less: Reduction for expense limitation............. -- -- -- --
-------- ------- ------- --------
Net expenses................................. 852 1,505 3,056 4,451
-------- ------- ------- --------
NET INVESTMENT INCOME (LOSS)....................... (852) (96) (413) 2,214
-------- ------- ------- --------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.......... 1,827 19,055 (2,061) (1,566)
Realized gain distribution from
The Trust................................. 14,015 136 3,439 --
-------- ------- ------- --------
Net realized gain (loss)........................ 15,842 19,191 1,378 (1,566)
Change in unrealized appreciation
(depreciation) of investments................ 172,185 29,283 74,129 123,501
-------- ------- ------- --------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.................................. 188,027 48,474 75,507 121,935
-------- ------- ------- --------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2).............. $187,175 $48,378 $75,094 $124,149
======== ======= ======= ========
</TABLE>
<TABLE>
<CAPTION>
Equity Options (Continued):
---------------------------------------------------------------------
EQ/PUTNAM
MERRILL LYNCH GROWTH & EQ/PUTNAM
BASIC VALUE INCOME INVESTORS
MFS RESEARCH EQUITY VALUE GROWTH (A)
------------ ------------- ------------ ----------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust..................... $ 184,100 $ 1,148,124 $ 1,073,404 $ --
----------- ----------- ------------ -------
Expenses (Note 3):
Asset-based charges.......................... 1,819,815 1,032,563 1,129,545 121
Less: Reduction for expense limitation............. -- -- -- --
----------- ----------- ------------ -------
Net expenses................................. 1,819,815 1,032,563 1,129,545 121
----------- ----------- ------------ -------
NET INVESTMENT INCOME (LOSS)....................... (1,635,715) 115,561 (56,141) (121)
----------- ----------- ------------ -------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.......... 13,149,852 5,360,258 2,754,940 6
Realized gain distribution from
The Trust................................. 3,784,361 4,821,412 5,808,382 1,806
----------- ----------- ------------ -------
Net realized gain (loss)........................ 16,934,213 10,181,670 8,563,322 1,812
Change in unrealized appreciation
(depreciation) of investments................ 14,109,284 (127,488) (11,414,919) 6,665
----------- ----------- ------------ -------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.................................. 31,043,497 10,054,182 (2,851,597) 8,477
----------- ----------- ------------ -------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2).............. $29,407,782 $10,169,743 $ (2,907,738) $8,356
=========== =========== ============ ======
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-8
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
Equity Options (Continued):
--------------------------------------------------------------------------
CAPITAL
T. ROWE PRICE ALLIANCE GUARDIAN
EQUITY INCOME ALLIANCE GLOBAL INTERNATIONAL INTERNATIONAL (A)
---------------- ----------------- --------------- -------------------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust .......... $ 2,775,622 $ 783,566 $ -- $ --
----------- ------------ ----------- ------
Expenses (Note 3):
Asset-based charges ............... 1,967,072 10,979,287 1,860,758 75
Less: Reduction for expense limitation .. -- -- -- --
----------- ------------ ----------- ------
Net expenses ...................... 1,967,072 10,979,287 1,860,758 75
----------- ------
NET INVESTMENT INCOME (LOSS) ............ 808,550 (10,195,721) (1,860,758) (75)
----------- ------------ ----------- ------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments 4,579,254 90,103,575 31,152,702 5
Realized gain distribution from
The Trust ...................... 5,792,887 62,266,802 2,919,087 --
----------- ------------ ----------- ------
Net realized gain (loss) ............. 10,372,141 152,370,377 34,071,789 5
Change in unrealized appreciation
(depreciation) of investments ..... (9,195,970) 128,133,406 18,061,228 7,708
----------- ------------ ----------- ------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS ....................... 1,176,171 280,503,783 52,133,017 7,713
----------- ------------ ----------- ------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2) ... $ 1,984,721 $270,308,062 $50,272,259 $7,638
=========== ============ =========== ======
<CAPTION>
Equity Options (Continued):
-----------------------------------------------------------------------------------------
MORGAN STANLEY EQ/PUTNAM T. ROWE PRICE
EMERGING INTERNATIONAL INTERNATIONAL ALLIANCE ALLIANCE SMALL
MARKETS EQUITY EQUITY (A) STOCK AGGRESSIVE STOCK CAP GROWTH
---------------- --------------- ---------------- ------------------ ----------------
<S> <C> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust .......... $ -- $ 2,705 $ 409,202 $ 9,326,310 $ --
----------- --------- ----------- ------------ -----------
Expenses (Note 3):
Asset-based charges ............... 408,713 221 1,142,190 39,543,477 1,657,966
Less: Reduction for expense limitation .. -- -- -- 2,850,436 --
----------- --------- ----------- ------------ -----------
Net expenses ...................... 408,713 221 1,142,190 36,693,041 1,657,966
----------- --------- ----------- ------------ -----------
NET INVESTMENT INCOME (LOSS) ............ (408,713) 2,484 (732,988) (27,366,731) (1,657,966)
----------- --------- ----------- ------------ -----------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments 19,242,288 17 14,429,637 (62,580,567) 20,167,565
Realized gain distribution from
The Trust ...................... 726,334 8,191 1,135,189 182,510,142 --
----------- --------- ----------- ------------ -----------
Net realized gain (loss) ............. 19,968,622 8,208 15,564,826 119,929,575 20,167,565
Change in unrealized appreciation
(depreciation) of investments ..... 7,484,816 14,312 10,967,057 376,094,230 14,165,644
----------- --------- ----------- ------------ -----------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS ....................... 27,453,438 22,520 26,531,883 496,023,805 34,333,209
----------- --------- ----------- ------------ -----------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2) ... $27,044,725 $ 25,004 $25,798,895 $468,657,074 $32,675,243
=========== ========= =========== ============ ===========
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-9
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS (CONCLUDED)
FOR THE YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
Equity Options (Concluded):
--------------------------------------------------------------------
WARBURG
EQ/ LAZARD MFS EMERGING PINCUS SMALL
EVERGREEN (A) SMALL CAP (A) GROWTH COMPANIES COMPANY VALUE
---------------- ---------------- ----------------- ---------------
<S> <C> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust............. $ 2,596 $ 42 $ -- $ 146,193
---------- ----------- ----------------- ---------------
Expenses (Note 3):
Asset-based charges.................. 1,086 10 4,720,964 1,056,877
Less: Reduction for expense limitation..... -- -- -- --
---------- ----------- ----------------- ---------------
Net expenses......................... 1,086 10 4,720,964 1,056,877
---------- ----------- ----------------- ---------------
NET INVESTMENT INCOME (LOSS)............... 1,510 32 (4,720,964) (910,684)
---------- ----------- ----------------- ---------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.. 21,001 (89) 61,863,513 (7,130,907)
Realized gain distribution from
The Trust......................... -- 68 11,833,932 --
---------- ----------- ----------------- ---------------
Net realized gain (loss)................ 21,001 (21) 73,697,445 (7,130,907)
Change in unrealized appreciation
(depreciation) of investments........ 16,534 466 189,033,575 7,537,570
---------- ----------- ----------------- ---------------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.......................... 37,535 445 262,731,020 406,663
---------- ----------- ----------------- ---------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2)...... $39,045 $ 477 $258,010,056 $ (504,021)
========== =========== ================= ===============
<CAPTION>
Asset Allocation Options:
------------------------------------------------------
ALLIANCE
ALLIANCE CONSERVATIVE ALLIANCE GROWTH
BALANCED INVESTORS INVESTORS
----------------- ---------------- -----------------
<S> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust............. $ 38,003,635 $ 4,691,893 $ 15,432,724
----------------- ---------------- -----------------
Expenses (Note 3):
Asset-based charges.................. 19,917,253 1,743,144 12,546,669
Less: Reduction for expense limitation..... 2,095,569 -- --
----------------- ---------------- -----------------
Net expenses......................... 17,821,684 1,743,144 12,546,669
----------------- --------------- -----------------
NET INVESTMENT INCOME (LOSS)............... 20,181,951 2,948,749 2,886,055
----------------- ---------------- -----------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.. 13,692,432 1,638,812 12,741,923
Realized gain distribution from
The Trust......................... 133,932,137 5,885,004 94,424,163
----------------- ---------------- -----------------
Net realized gain (loss)................ 147,624,569 7,523,816 107,166,086
Change in unrealized appreciation
(depreciation) of investments........ 39,004,307 689,307 106,086,756
----------------- ---------------- -----------------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.......................... 186,628,876 8,213,123 213,252,842
----------------- ---------------- -----------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2)...... $206,810,827 $11,161,872 $216,138,897
================= ================ =================
<CAPTION>
Asset Allocation Options:
---------------------------------------------------
EQ/EVERGREEN MERRILL LYNCH EQ/
FOUNDATION (A) WORLD STRATEGY PUTNAM BALANCED
------------------ --------------- ----------------
<S> <C> <C> <C>
INCOME AND EXPENSES:
Investment Income (Note 2):
Dividends from The Trust............. $1,116 $ 101,490 $ 1,154,530
---------- --------------- ----------------
Expenses (Note 3):
Asset-based charges.................. 202 136,368 554,156
Less: Reduction for expense limitation..... -- -- --
---------- --------------- ----------------
Net expenses......................... 202 136,368 554,156
---------- --------------- ----------------
NET INVESTMENT INCOME (LOSS)............... 914 (34,878) 600,374
---------- --------------- ----------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS (NOTE 2):
Realized gain (loss) on investments.. 63 1,380,620 1,111,281
Realized gain distribution from
The Trust......................... -- 163,800 1,419,016
---------- --------------- ----------------
Net realized gain (loss)................ 63 1,544,420 2,530,297
Change in unrealized appreciation
(depreciation) of investments........ 4,261 669,904 (3,992,030)
---------- --------------- ----------------
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS.......................... 4,324 2,214,324 (1,461,733)
---------- --------------- ----------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS (NOTE 2)...... $5,238 $2,179,446 $ (861,359)
========== =============== ================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-10
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
FIXED INCOME OPTIONS:
---------------------------------------------------------------
ALLIANCE INTERMEDIATE ALLIANCE
GOVERNMENT SECURITIES MONEY MARKET
---------------------------------- --------------------------
1999 1998 1999 1998
---------------- ---------------- ------------- ------------
<S> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................... $ 2,186,819 $ 1,762,313 $ 4,756,137 $ 3,823,222
Net realized gain (loss) on investments.................... 302,141 470,342 1,321,607 238,059
Change in unrealized appreciation
(depreciation) of investments........................... (3,147,010) 512,287 (1,138,368) 121,024
---------------- ---------------- ------------- ------------
Net increase (decrease) in net assets from operations...... (658,050) 2,744,942 4,939,376 4,182,305
---------------- ---------------- ------------- ------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions........................................... 10,803,619 10,106,543 72,843,109 59,238,443
Transfers from other Funds and
Guaranteed Interest Account.......................... 17,510,838 23,196,411 151,517,985 99,124,881
---------------- ---------------- ------------- ------------
Total............................................. 28,314,457 33,302,954 224,361,094 158,363,324
---------------- ---------------- ------------- ------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................... 7,077,940 5,018,282 32,264,005 25,401,484
Transfers to other Funds and
Guaranteed Interest Account.......................... 16,376,682 14,425,062 161,836,076 108,901,266
Withdrawal and administrative charges................... 61,594 75,927 265,560 307,072
---------------- ---------------- ------------- ------------
Total............................................. 23,516,216 19,519,271 194,365,641 134,609,822
---------------- ---------------- ------------- ------------
Net increase (decrease) in net assets from
Contractowners transactions............................. 4,798,241 13,783,683 29,995,453 23,753,502
---------------- ---------------- ------------- ------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)........... (90,814) (610,623) 285,634 (1,229,280)
---------------- ---------------- ------------- ------------
INCREASE (DECREASE) IN NET ASSETS............................. 4,049,377 15,918,002 35,220,463 26,706,527
NET ASSETS -- BEGINNING OF PERIOD............................. 53,853,340 37,935,338 126,086,117 99,379,590
---------------- ---------------- ------------- ------------
NET ASSETS -- END OF PERIOD (NOTE 1).......................... $57,902,717 $53,853,340 $161,306,580 $126,086,117
================ ================ ============= ============
<CAPTION>
FIXED INCOME OPTIONS:
----------------------------------------------------------
ALLIANCE ALLIANCE
QUALITY BOND HIGH YIELD
-------------------------- -----------------------------
1999 1998 1999 1998
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................... $ 3,379,691 $ 2,601,044 $ 16,622,706 $ 17,912,128
Net realized gain (loss) on investments.................... 510,147 1,993,466 (8,256,252) 3,914,555
Change in unrealized appreciation
(depreciation) of investments........................... (6,837,979) (486,113) (16,895,279) (36,813,923)
------------ ------------- ------------- -------------
Net increase (decrease) in net assets from operations...... (2,948,141) 4,108,397 (8,528,825) (14,987,240)
------------ ------------- ------------- -------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions........................................... 17,826,110 20,999,014 26,936,544 52,878,815
Transfers from other Funds and
Guaranteed Interest Account.......................... 23,994,287 46,264,543 30,740,677 114,552,746
------------ ------------- ------------- -------------
Total............................................. 41,820,397 67,263,557 57,677,221 167,431,561
------------ ------------- ------------- -------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................... 8,423,954 4,294,846 18,107,373 15,414,754
Transfers to other Funds and
Guaranteed Interest Account.......................... 25,178,431 26,129,927 66,186,094 96,757,242
Withdrawal and administrative charges..... 69,431 64,190 262,567 269,447
------------ ------------- ------------- -------------
Total............................................. 33,671,816 30,488,963 84,556,034 112,441,443
------------ ------------- ------------- -------------
Net increase (decrease) in net assets from
Contractowners transactions............................. 8,148,581 36,774,594 (26,878,813) 54,990,118
------------ ------------- ------------- -------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)........... 117,914 (387,566) (118,422) (1,942,757)
------------ ------------- ------------- -------------
INCREASE (DECREASE) IN NET ASSETS............................. 5,318,354 40,495,424 (35,526,060) 38,060,121
NET ASSETS -- BEGINNING OF PERIOD............................. 81,912,360 41,416,935 198,390,260 160,330,139
------------ ------------- ------------- -------------
NET ASSETS -- END OF PERIOD (NOTE 1).......................... $87,230,714 $81,912,360 $162,864,200 $198,390,260
============ ============= ============= =============
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-11
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
Equity Options:
----------------------------------------
ALLIANCE
COMMON STOCK
----------------------------------------
1999 1998
-------------------- -------------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (63,829,473) $ (46,516,714)
Net realized gain (loss) on investments........................... 1,567,459,196 1,122,099,298
Change in unrealized appreciation
(depreciation) of investments.................................. 320,673,163 573,857,850
-------------------- -------------------
Net increase (decrease) in net assets from operations............. 1,824,302,886 1,649,440,434
-------------------- -------------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 559,831,359 526,598,693
Transfers from other Funds and
Guaranteed Interest Account................................. 1,373,905,485 1,219,987,398
-------------------- -------------------
Total.................................................... 1,933,736,844 1,746,586,091
-------------------- -------------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 645,258,965 439,741,977
Transfers to other Funds and
Guaranteed Interest Account................................. 1,305,180,800 1,134,646,060
Withdrawal and administrative charges..... 7,166,669 7,821,832
-------------------- -------------------
Total.................................................... 1,957,606,434 1,582,209,869
-------------------- -------------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... (23,869,590) 164,376,222
-------------------- -------------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. (3,359,970) (56,413,626)
-------------------- -------------------
INCREASE (DECREASE) IN NET ASSETS.................................... 1,797,073,326 1,757,403,030
NET ASSETS -- BEGINNING OF PERIOD.................................... 7,729,915,526 5,972,512,496
-------------------- -------------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $9,526,988,852 $7,729,915,526
==================== ===================
<CAPTION>
Equity Options:
----------------------------------------
ALLIANCE
EQUITY INDEX
----------------------------------------
1999 1998
-------------------- -------------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (4,065,878) $ (1,365,362)
Net realized gain (loss) on investments........................... 133,882,444 40,417,098
Change in unrealized appreciation
(depreciation) of investments.................................. 118,641,942 170,263,193
-------------------- -------------------
Net increase (decrease) in net assets from operations............. 248,458,508 209,314,929
-------------------- -------------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 207,110,009 169,623,980
Transfers from other Funds and
Guaranteed Interest Account................................. 843,228,288 637,861,607
-------------------- -------------------
Total.................................................... 1,050,338,297 807,485,587
-------------------- -------------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 110,899,865 55,265,209
Transfers to other Funds and
Guaranteed Interest Account................................. 685,337,381 455,238,354
Withdrawal and administrative charges..... 1,410,369 1,207,740
-------------------- -------------------
Total.................................................... 797,647,615 511,711,303
-------------------- -------------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 252,690,682 295,774,284
-------------------- -------------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. (1,458,118) (7,530,762)
-------------------- -------------------
INCREASE (DECREASE) IN NET ASSETS.................................... 499,691,072 497,558,451
NET ASSETS-- BEGINNING OF PERIOD..................................... 1,153,003,354 655,444,903
-------------------- -------------------
NET ASSETS-- END OF PERIOD (NOTE 1).................................. $1,652,694,426 $1,153,003,354
==================== ===================
<CAPTION>
Equity Options:
------------------------------------------------------
EQ/ALLIANCE
ALLIANCE PREMIER
GROWTH & INCOME GROWTH (A)
----------------------------------- -----------------
1999 1998 1999
----------------- ----------------- -----------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (7,774,963) $ (4,742,310) $ (167,569)
Net realized gain (loss) on investments........................... 84,313,836 51,666,978 938,447
Change in unrealized appreciation
(depreciation) of investments.................................. 39,845,140 39,346,894 10,413,030
----------------- ----------------- -----------------
Net increase (decrease) in net assets from operations............. 116,384,013 86,271,562 11,183,908
----------------- ----------------- -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 123,351,766 101,906,524 19,961,106
Transfers from other Funds and
Guaranteed Interest Account................................. 190,419,567 162,800,542 94,910,089
----------------- ----------------- -----------------
Total.................................................... 313,771,333 264,707,066 114,871,195
----------------- ----------------- -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 54,339,299 30,427,264 460,182
Transfers to other Funds and
Guaranteed Interest Account................................. 103,291,011 89,917,684 13,207,345
Withdrawal and administrative charges..... 742,582 678,233 3,650
----------------- ----------------- -----------------
Total.................................................... 158,372,892 121,023,181 13,671,177
----------------- ----------------- -----------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 155,398,441 143,683,885 101,200,018
----------------- ----------------- -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. (794,427) (4,193,814) 38,854
----------------- ----------------- -----------------
INCREASE (DECREASE) IN NET ASSETS.................................... 270,988,027 225,761,633 112,422,780
NET ASSETS -- BEGINNING OF PERIOD.................................... 599,765,175 374,003,542 --
----------------- ----------------- -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $870,753,202 $599,765,175 $112,422,780
================= ================= =================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-12
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
EQUITY SERIES (CONTINUED):
---------------------------------------------------------
CALVERT CAPITAL CAPITAL
SOCIALLY GUARDIAN GUARDIAN U.S.
RESPONSIBLE (A) RESEARCH (A) EQUITY (A)
------------------- --------------- -----------------
1999 1999 1999
------------------- --------------- -----------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (852) $ (96) $ (413)
Net realized gain (loss) on investments........................... 15,842 19,191 1,378
Change in unrealized appreciation
(depreciation) of investments.................................. 172,185 29,283 74,129
--------------- --------------- ---------------
Net increase (decrease) in net assets from operations............. 187,175 48,378 75,094
--------------- --------------- ---------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 50,075 372,085 386,988
Transfers from other Funds and
Guaranteed Interest Account................................. 454,057 840,605 1,098,135
--------------- --------------- ---------------
Total.................................................... 504,132 1,212,690 1,485,123
--------------- --------------- ---------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... -- 902 17,579
Transfers to other Funds and
Guaranteed Interest Account................................. 72,191 351,450 133,777
Withdrawal and administrative charges......................... 54 1 13
--------------- --------------- ---------------
Total.................................................... 72,245 352,353 151,369
--------------- --------------- ---------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 431,887 860,337 1,333,754
--------------- --------------- ---------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. 2,000,073 25,206 25,247
--------------- --------------- ---------------
INCREASE (DECREASE) IN NET ASSETS.................................... 2,619,135 933,921 1,434,095
NET ASSETS -- BEGINNING OF PERIOD.................................... -- -- --
--------------- --------------- ---------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $ 2,619,135 $ 933,921 $1,434,095
=============== =============== ===============
<CAPTION>
EQUITY SERIES (CONTINUED):
-------------------------------------------------------
MFS GROWTH
WITH
INCOME (A) MFS RESEARCH
-------------- --------------------------------------
1999 1999 1998
-------------- ------------------ -----------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ 2,214 $ (1,635,715) $ (486,308)
Net realized gain (loss) on investments........................... (1,566) 16,934,213 (916,443)
Change in unrealized appreciation
(depreciation) of investments.................................. 123,501 14,109,284 13,393,079
-------------- ------------------ -----------------
Net increase (decrease) in net assets from operations............. 124,149 29,407,782 11,990,328
-------------- ------------------ -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 891,850 30,557,735 26,220,920
Transfers from other Funds and
Guaranteed Interest Account................................. 1,303,993 79,447,062 79,372,885
-------------- ------------------ -----------------
Total.................................................... 2,195,843 110,004,797 105,593,805
-------------- ------------------ -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 15,682 7,842,822 2,234,932
Transfers to other Funds and
Guaranteed Interest Account................................. 100,983 63,062,485 39,937,639
Withdrawal and administrative charges......................... 30 132,468 56,352
-------------- ------------------ -----------------
Total.................................................... 116,695 71,037,775 42,228,923
-------------- ------------------ -----------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 2,079,148 38,967,022 63,364,882
-------------- ------------------ -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. 25,205 (131,866) (3,618,924)
-------------- ------------------ -----------------
INCREASE (DECREASE) IN NET ASSETS.................................... 2,228,502 68,242,938 71,736,286
NET ASSETS -- BEGINNING OF PERIOD.................................... -- 102,398,557 30,662,271
-------------- ------------------ -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $2,228,502 $170,641,495 $102,398,557
============== ================== =================
<CAPTION>
EQUITY SERIES (CONTINUED):
-----------------------------------
MERRILL LYNCH
BASIC VALUE EQUITY
-----------------------------------
1999 1998
---------------- ----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ 115,561 $ 56,464
Net realized gain (loss) on investments........................... 10,181,670 703,647
Change in unrealized appreciation
(depreciation) of investments.................................. (127,488) 1,021,838
---------------- ----------------
Net increase (decrease) in net assets from operations............. 10,169,743 1,781,949
---------------- ----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 18,954,806 18,099,811
Transfers from other Funds and
Guaranteed Interest Account................................. 51,439,310 54,374,032
---------------- ----------------
Total.................................................... 70,394,116 72,473,843
---------------- ----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 4,950,153 1,998,824
Transfers to other Funds and
Guaranteed Interest Account................................. 36,220,977 31,529,622
Withdrawal and administrative charges......................... 75,889 37,806
---------------- ----------------
Total.................................................... 41,247,019 33,566,252
---------------- ----------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 29,147,097 38,907,591
---------------- ----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. (77,654) (2,107,254)
---------------- ----------------
INCREASE (DECREASE) IN NET ASSETS.................................... 39,239,186 38,582,286
NET ASSETS -- BEGINNING OF PERIOD.................................... 57,472,315 18,890,029
---------------- ----------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $96,711,501 $57,472,315
================ ================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-13
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
EQUITY SERIES (CONTINUED):
-------------------------------------------------
EQ/PUTNAM
INVESTORS
EQ/PUTNAM GROWTH & INCOME VALUE GROWTH
----------------------------------- -------------
1999 1998 1999
----------------- ---------------- -------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).............................. $ (56,141) $ (27,881) $ (121)
Net realized gain (loss) on investments................... 8,563,322 241,200 1,812
Change in unrealized appreciation
(depreciation) of investments.......................... (11,414,919) 5,418,025 6,665
----------------- ---------------- -------------
Net increase (decrease) in net assets from operations..... (2,907,738) 5,631,344 8,356
----------------- ---------------- -------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.......................................... 15,111,566 21,041,270 4,282
Transfers from other Funds and
Guaranteed Interest Account......................... 21,929,146 31,492,288 106,618
----------------- ---------------- -------------
Total............................................ 37,040,712 52,533,558 110,900
----------------- ---------------- -------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.................................. 5,975,591 2,208,567 --
Transfers to other Funds and
Guaranteed Interest Account......................... 19,982,421 9,702,715 --
Withdrawal and administrative charges.................. 95,368 53,830 --
----------------- ---------------- -------------
Total............................................ 26,053,380 11,965,112 --
----------------- ---------------- -------------
Net increase (decrease) in net assets from
Contractowners transactions............................ 10,987,332 40,568,446 110,900
----------------- ---------------- -------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).......... (173,782) (2,075,426) 25,019
----------------- ---------------- -------------
INCREASE (DECREASE) IN NET ASSETS............................ 7,905,812 44,124,364 144,275
NET ASSETS -- BEGINNING OF PERIOD............................ 74,988,792 30,864,428 --
----------------- ---------------- -------------
NET ASSETS -- END OF PERIOD (NOTE 1)......................... $ 82,894,604 $74,988,792 $144,275
================= ================ =============
<CAPTION>
EQUITY SERIES (CONTINUED):
------------------------------------
T. ROWE PRICE
EQUITY INCOME
------------------------------------
1999 1998
------------------ -----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).............................. $ 808,550 $ 972,619
Net realized gain (loss) on investments................... 10,372,141 1,957,941
Change in unrealized appreciation
(depreciation) of investments.......................... (9,195,970) 4,171,888
------------------ -----------------
Net increase (decrease) in net assets from operations..... 1,984,721 7,102,448
------------------ -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.......................................... 22,420,408 34,984,402
Transfers from other Funds and
Guaranteed Interest Account......................... 32,033,807 70,500,028
------------------ -----------------
Total............................................ 54,454,215 105,484,430
------------------ -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.................................. 10,573,400 4,063,205
Transfers to other Funds and
Guaranteed Interest Account......................... 38,746,496 26,010,302
Withdrawal and administrative charges.................. 143,698 88,752
------------------ -----------------
Total............................................ 49,463,594 30,162,259
------------------ -----------------
Net increase (decrease) in net assets from
Contractowners transactions............................ 4,990,621 75,322,171
------------------ -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).......... (117,973) (2,151,022)
------------------ -----------------
INCREASE (DECREASE) IN NET ASSETS............................ 6,857,369 80,273,597
NET ASSETS -- BEGINNING OF PERIOD............................ 139,978,924 59,705,327
------------------ -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)......................... $146,836,293 $139,978,924
================== =================
<CAPTION>
EQUITY SERIES (CONTINUED):
--------------------------------------
ALLIANCE GLOBAL
--------------------------------------
1999 1998
-------------------- -----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).............................. $ (10,195,721) $ (952,981)
Net realized gain (loss) on investments................... 152,370,377 59,782,149
Change in unrealized appreciation
(depreciation) of investments.......................... 128,133,406 60,932,110
-------------------- -----------------
Net increase (decrease) in net assets from operations..... 270,308,062 119,761,278
-------------------- -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.......................................... 75,156,941 73,052,084
Transfers from other Funds and
Guaranteed Interest Account......................... 328,119,254 97,000,214
-------------------- -----------------
Total............................................ 403,276,195 170,052,298
-------------------- -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.................................. 66,837,255 45,379,156
Transfers to other Funds and
Guaranteed Interest Account......................... 320,264,708 124,416,716
Withdrawal and administrative charges.................. 875,060 1,061,880
-------------------- -----------------
Total............................................ 387,977,023 170,857,752
-------------------- -----------------
Net increase (decrease) in net assets from
Contractowners transactions............................ 15,299,172 (805,454)
-------------------- -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).......... (355,951) (7,993,835)
-------------------- -----------------
INCREASE (DECREASE) IN NET ASSETS............................ 285,251,283 110,961,989
NET ASSETS-- BEGINNING OF PERIOD............................. 727,158,446 616,196,457
-------------------- -----------------
NET ASSETS-- END OF PERIOD (NOTE 1).......................... $1,012,409,729 $727,158,446
==================== =================
<CAPTION>
EQUITY SERIES (CONTINUED):
------------------------------------
ALLIANCE
INTERNATIONAL
------------------------------------
1999 1998
------------------ -----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).............................. $ (1,860,758) $ 630,063
Net realized gain (loss) on investments................... 34,071,789 (6,291,778)
Change in unrealized appreciation
(depreciation) of investments.......................... 18,061,228 17,134,710
------------------ -----------------
Net increase (decrease) in net assets from operations..... 50,272,259 11,472,995
------------------ -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.......................................... 21,074,414 18,021,919
Transfers from other Funds and
Guaranteed Interest Account......................... 648,133,522 252,313,930
------------------ -----------------
Total............................................ 669,207,936 270,335,849
------------------ -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.................................. 11,095,235 9,618,434
Transfers to other Funds and
Guaranteed Interest Account......................... 667,775,669 259,822,531
Withdrawal and administrative charges.................. 186,358 226,908
------------------ -----------------
Total............................................ 679,057,262 269,667,873
------------------ -----------------
Net increase (decrease) in net assets from
Contractowners transactions............................ (9,849,326) 667,976
------------------ -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).......... 115,663 (1,963,601)
------------------ -----------------
INCREASE (DECREASE) IN NET ASSETS............................ 40,538,596 10,177,370
NET ASSETS -- BEGINNING OF PERIOD............................ 130,215,029 120,037,659
------------------ -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)......................... $170,753,625 $130,215,029
================== =================
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-14
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
EQUITY SERIES (CONTINUED):
--------------------------------------------------------
CAPITAL
GUARDIAN MORGAN STANLEY
INTERNATIONAL (A) EMERGING MARKETS EQUITY
-------------------- ----------------------------------
1999 1999 1998
-------------------- ----------------- ----------------
<S> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (75) $ (408,713) $ (77,914)
Net realized gain (loss) on investments........................... 5 19,968,622 (4,762,302)
Change in unrealized appreciation
(depreciation) of investments.................................. 7,708 7,484,816 34,335
------------ ----------------- ----------------
Net increase (decrease) in net assets from operations............. 7,638 27,044,725 (4,805,881)
------------ ----------------- ----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 246 7,422,677 4,268,805
Transfers from other variable investment
options and Guaranteed Interest Account..................... 51,521 256,457,729 58,497,186
------------ ----------------- ----------------
Total.................................................... 51,767 263,880,406 62,765,991
------------ ----------------- ----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... -- 2,295,400 371,931
Transfers from other variable investment
options and Guaranteed Interest Account..................... -- 230,400,637 55,007,653
Withdrawal and administrative charges.......................... -- 25,133 12,342
------------ ----------------- ----------------
Total.................................................... -- 232,721,170 55,391,926
------------ ----------------- ----------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 51,767 31,159,236 7,374,065
------------ ----------------- ----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. 25,010 (3,346,947) 74,039
------------ ----------------- ----------------
INCREASE (DECREASE) IN NET ASSETS.................................... 84,415 54,857,014 2,642,223
NET ASSETS -- BEGINNING OF PERIOD.................................... -- 16,084,234 13,442,011
------------ ----------------- ----------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $ 84,415 $ 70,941,248 $16,084,234
============ ================= ================
<CAPTION>
EQUITY SERIES (CONTINUED):
------------------------------------------------------
EQ/PUTNAM
INTERNATIONAL T. ROWE PRICE
EQUITY INTERNATIONAL STOCK
---------------- -----------------------------------
1999 1999 1998
---------------- ------------------ ----------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ 2,484 $ (732,988) $ (89,213)
Net realized gain (loss) on investments........................... 8,208 15,564,826 (2,186,910)
Change in unrealized appreciation
(depreciation) of investments.................................. 14,312 10,967,057 8,173,937
------------ ------------------ ----------------
Net increase (decrease) in net assets from operations............. 25,004 25,798,895 5,897,814
------------ ------------------ ----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 21,152 15,381,272 17,268,615
Transfers from other variable investment
options and Guaranteed Interest Account..................... 175,825 109,128,680 79,807,973
------------ ------------------ ----------------
Total.................................................... 196,977 124,509,952 97,076,588
------------ ------------------ ----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... -- 5,855,141 2,262,558
Transfers from other variable investment
options and Guaranteed Interest Account..................... -- 105,733,445 64,643,746
Withdrawal and administrative charges.......................... -- 94,699 65,025
------------ ------------------ ----------------
Total.................................................... -- 111,683,285 66,971,329
------------ ------------------ ----------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... 196,977 12,826,667 30,105,259
------------ ------------------ ----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. 25,033 (21,952) (6,011,889)
------------ ------------------ ----------------
INCREASE (DECREASE) IN NET ASSETS.................................... 247,014 38,603,610 29,991,184
NET ASSETS -- BEGINNING OF PERIOD.................................... -- 73,881,887 43,890,703
------------ ------------------ ----------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $247,014 $112,485,497 $73,881,887
============ ================== ================
<CAPTION>
EQUITY SERIES (CONTINUED):
-----------------------------------------
ALLIANCE
AGGRESSIVE STOCK
-----------------------------------------
1999 1998
-------------------- -------------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)...................................... $ (27,366,731) $ (25,699,164)
Net realized gain (loss) on investments........................... 119,929,575 229,821,681
Change in unrealized appreciation
(depreciation) of investments.................................. 376,094,230 (233,439,908)
-------------------- -------------------
Net increase (decrease) in net assets from operations............. 468,657,074 (29,317,391)
-------------------- -------------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.................................................. 211,928,010 292,963,500
Transfers from other variable investment
options and Guaranteed Interest Account..................... 690,307,548 837,060,745
-------------------- -------------------
Total.................................................... 902,235,558 1,130,024,245
-------------------- -------------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits.......................................... 293,091,030 246,890,973
Transfers from other variable investment
options and Guaranteed Interest Account..................... 1,138,246,663 1,105,075,546
Withdrawal and administrative charges.......................... 4,048,698 5,526,894
-------------------- -------------------
Total.................................................... 1,435,386,391 1,357,493,413
-------------------- -------------------
Net increase (decrease) in net assets from
Contractowners transactions.................................... (533,150,833) (227,469,168)
-------------------- -------------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3).................. (1,296,959) (23,708,725)
-------------------- -------------------
INCREASE (DECREASE) IN NET ASSETS.................................... (65,790,718) (280,495,284)
NET ASSETS -- BEGINNING OF PERIOD.................................... 3,169,168,896 3,449,664,180
-------------------- -------------------
NET ASSETS -- END OF PERIOD (NOTE 1)................................. $3,103,378,178 $3,169,168,896
==================== ===================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-15
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
EQUITY SERIES (CONCLUDED):
---------------------------------------------------------------------
ALLIANCE EQ/ LAZARD
SMALL CAP GROWTH EVERGREEN (A) SMALL CAP
------------------------------------ ------------------ -------------
1999 1998 1999 1999
------------------ ----------------- ------------------ -------------
<S> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................ $ (1,657,966) $ (1,425,679) $ 1,510 $ 32
Net realized gain (loss) on investments................. 20,167,565 (18,408,722) 21,001 (21)
Change in unrealized appreciation
(depreciation) of investments........................ 14,165,644 12,576,541 16,534 466
------------------ ----------------- -------------- ------------
Net increase (decrease) in net assets from operations... 32,675,243 (7,257,860) 39,045 477
------------------ ----------------- -------------- ------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions........................................ 19,245,738 43,309,112 159,057 650
Transfers from other variable investment
options and Guaranteed Interest Account........... 356,043,363 363,094,583 852,104 24,205
------------------ ----------------- -------------- ------------
Total.......................................... 375,289,101 406,403,695 1,011,161 24,855
------------------ ----------------- -------------- ------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................ 8,512,986 3,905,019 8,783 --
Transfers from other variable investment
options and Guaranteed Interest Account........... 381,010,271 319,261,827 464,579 10,014
Withdrawal and administrative charges................ 181,537 112,019 2 --
------------------ ----------------- -------------- ------------
Total.......................................... 389,704,794 323,278,865 473,364 10,014
------------------ ----------------- -------------- ------------
Net increase (decrease) in net assets from
Contractowners transactions.......................... (14,415,693) 83,124,830 537,797 14,841
------------------ ----------------- -------------- ------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)........ 400,260 (2,107,093) 24,886 12
------------------ ----------------- -------------- ------------
INCREASE (DECREASE) IN NET ASSETS.......................... 18,659,810 73,759,877 601,728 15,330
NET ASSETS -- BEGINNING OF PERIOD........ ................. 139,317,130 65,557,253 -- --
------------------ ----------------- -------------- ------------
NET ASSETS -- END OF PERIOD (NOTE 1)...... ................ $157,976,940 $139,317,130 $ 601,728 $ 15,330
================== ================= ============== ============
<CAPTION>
EQUITY SERIES (CONCLUDED):
-----------------------------------------------------------------------
MFS EMERGING WARBURG PINCUS
GROWTH COMPANIES SMALL COMPANY VALUE
------------------------------- -----------------------------------
1999 1998 1999 1998
--------------- --------------- ----------------- -----------------
<S> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................ $ (4,720,964) $ (1,122,240) $ (910,684) $ (628,813)
Net realized gain (loss) on investments................. 73,697,445 (4,911,369) (7,130,907) (3,319,964)
Change in unrealized appreciation
(depreciation) of investments........................ 189,033,575 35,293,322 7,537,570 (7,312,118)
-------------- --------------- ----------------- -----------------
Net increase (decrease) in net assets from operations... 258,010,056 29,259,713 (504,021) (11,260,895)
-------------- --------------- ----------------- -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions........................................ 99,850,182 45,965,336 10,670,794 25,746,572
Transfers from other variable investment
options and Guaranteed Interest Account........... 412,004,872 245,232,174 18,055,879 45,701,935
-------------- --------------- ----------------- -----------------
Total.......................................... 511,855,054 291,197,510 28,726,673 71,448,507
-------------- --------------- ----------------- -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................ 24,089,810 3,422,691 4,921,343 3,085,017
Transfers from other variable investment
options and Guaranteed Interest Account........... 216,250,323 170,609,391 36,061,195 34,873,684
Withdrawal and administrative charges................ 387,668 94,296 117,502 105,234
-------------- --------------- ----------------- -----------------
Total.......................................... 240,727,801 174,126,378 41,100,040 38,063,935
-------------- --------------- ----------------- -----------------
Net increase (decrease) in net assets from
Contractowners transactions.......................... 271,127,253 117,071,132 (12,373,367) 33,384,572
-------------- --------------- ----------------- -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)........ (163,969) (3,838,123) (65,352) (974,114)
-------------- --------------- ----------------- -----------------
INCREASE (DECREASE) IN NET ASSETS.......................... 528,973,340 142,492,722 (12,942,740) 21,149,563
NET ASSETS -- BEGINNING OF PERIOD.......................... 177,252,578 34,759,856 90,331,538 69,181,975
-------------- --------------- ----------------- -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)....................... $706,225,918 $177,252,578 $77,388,798 $ 90,331,538
============== =============== ================= =================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-16
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
ASSET ALLOCATION OPTIONS:
-----------------------------------------
ALLIANCE
BALANCED
-----------------------------------------
1999 1998
------------------- -------------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................. $ 20,181,951 $ 17,242,619
Net realized gain (loss) on investments.................. 147,624,569 133,532,418
Change in unrealized appreciation
(depreciation) of investments......................... 39,004,307 42,665,225
------------------- -------------------
Net increase (decrease) in net assets from operations.... 206,810,827 193,440,262
------------------- -------------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions......................................... 80,322,283 76,987,846
Transfers from other variable investment
options and Guaranteed Interest Accou.............. 117,629,758 168,586,346
------------------- -------------------
Total........................................... 197,952,041 245,574,192
------------------- -------------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................. 131,721,182 107,639,830
Transfers from other variable investment
options and Guaranteed Interest Account............ 146,487,798 202,971,507
Withdrawal and administrative charges................. 1,231,936 1,699,980
------------------- -------------------
Total........................................... 279,440,916 312,311,317
------------------- -------------------
Net increase (decrease) in net assets from
Contractowners transactions........................... (81,488,875) (66,737,125)
------------------- -------------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)......... (358,009) (11,812,039)
------------------- -------------------
INCREASE (DECREASE) IN NET ASSETS........................... 124,963,943 114,891,098
NET ASSETS -- BEGINNING OF PERIOD........................... 1,322,921,820 1,208,030,722
------------------- -------------------
NET ASSETS -- END OF PERIOD (NOTE 1)........................ $1,447,885,763 $1,322,921,820
=================== ===================
<CAPTION>
ASSET ALLOCATION OPTIONS:
------------------------------------
ALLIANCE
CONSERVATIVE INVESTORS
------------------------------------
1999 1998
------------------ -----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................. $ 2,948,749 $ 2,806,823
Net realized gain (loss) on investments.................. 7,523,816 7,693,592
Change in unrealized appreciation
(depreciation) of investments......................... 689,307 2,040,567
------------------ -----------------
Net increase (decrease) in net assets from operations.... 11,161,872 12,540,982
------------------ -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions......................................... 19,554,473 19,140,568
Transfers from other variable investment
options and Guaranteed Interest Accou.............. 18,725,190 16,914,697
------------------ -----------------
Total........................................... 38,279,663 36,055,265
------------------ -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................. 12,359,171 8,188,450
Transfers from other variable investment
options and Guaranteed Interest Account............ 14,458,723 12,810,163
Withdrawal and administrative charges................. 126,838 167,275
------------------ -----------------
Total........................................... 26,944,732 21,165,888
------------------ -----------------
Net increase (decrease) in net assets from
Contractowners transactions........................... 11,334,931 14,889,377
------------------ -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)......... (56,486) (1,763,255)
------------------ -----------------
INCREASE (DECREASE) IN NET ASSETS........................... 22,440,317 25,667,104
NET ASSETS -- BEGINNING OF PERIOD........................... 120,068,702 94,401,598
------------------ -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)........................ $142,509,019 $120,068,702
================== =================
<CAPTION>
ASSET ALLOCATION OPTIONS:
---------------------------------------
ALLIANCE
GROWTH INVESTORS
---------------------------------------
1999 1998
-------------------- -----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)............................. $ 2,886,055 $ 5,499,380
Net realized gain (loss) on investments.................. 107,166,086 75,887,319
Change in unrealized appreciation
(depreciation) of investments......................... 106,086,756 40,944,576
-------------------- -----------------
Net increase (decrease) in net assets from operations.... 216,138,897 122,331,275
-------------------- -----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions......................................... 96,197,073 90,895,614
Transfers from other variable investment
options and Guaranteed Interest Accou.............. 116,747,082 81,033,459
-------------------- -----------------
Total........................................... 212,944,155 171,929,073
-------------------- -----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits................................. 72,680,626 50,079,041
Transfers from other variable investment
options and Guaranteed Interest Account............ 96,645,261 81,495,051
Withdrawal and administrative charges................. 1,067,645 1,338,300
-------------------- -----------------
Total........................................... 170,393,532 132,912,392
-------------------- -----------------
Net increase (decrease) in net assets from
Contractowners transactions........................... 42,550,623 39,016,681
-------------------- -----------------
Net increase (decrease) in amount retained by
Equitable Life in Separate Account A (Note 3)......... (781,556) (8,570,191)
-------------------- -----------------
INCREASE (DECREASE) IN NET ASSETS........................... 257,907,964 152,777,765
NET ASSETS -- BEGINNING OF PERIOD........................... 842,905,292 690,127,527
-------------------- -----------------
NET ASSETS -- END OF PERIOD (NOTE 1)........................ $1,100,813,256 $842,905,292
==================== =================
</TABLE>
- ------------------------
See Notes to Financial Statements.
FSA-17
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS (CONCLUDED)
FOR THE YEARS ENDED DECEMBER 31,
<TABLE>
<CAPTION>
ASSET ALLOCATION OPTIONS (CONCLUDED):
-------------------------------------------------------
EQ/EVERGREEN MERRILL LYNCH WORLD
FOUNDATION (A) STRATEGY
------------------ -----------------------------------
1999 1999 1998
------------------ ---------------- ----------------
<S> <C> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).................................. $ 914 $ (34,878) $ (11,329)
Net realized gain (loss) on investments....................... 63 1,544,420 (103,174)
Change in unrealized appreciation
(depreciation) of investments.............................. 4,261 669,904 648,068
------------ ---------------- ----------------
Net increase (decrease) in net assets from operations......... 5,238 2,179,446 533,565
------------ ---------------- ----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.............................................. 14,367 1,755,419 1,929,793
Transfers from other variable investment
options and Guaranteed Interest Account................. 122,112 17,812,153 7,365,231
------------ ---------------- ----------------
Total................................................ 136,479 19,567,572 9,295,024
------------ ---------------- ----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits...................................... 1,952 615,160 340,072
Transfers to other Funds and
Guaranteed Interest Account............................. 11,137 18,171,482 5,454,326
Withdrawal and administrative charges...................... 1 12,610 10,176
------------ ---------------- ----------------
Total................................................ 13,090 18,799,252 5,804,574
------------ ---------------- ----------------
Net increase (decrease) in net assets from
Contractowners transactions................................ 123,389 768,320 3,490,450
------------ ---------------- ----------------
Net (increase) decrease in amount retained by
Equitable Life in Separate Account A (Note 3).............. 25,027 (7,305) (1,551,800)
------------ ---------------- ----------------
INCREASE (DECREASE) IN NET ASSETS................................ 153,654 2,940,461 2,472,215
NET ASSETS -- BEGINNING OF PERIOD................................ -- 11,042,248 8,570,033
------------ ---------------- ----------------
NET ASSETS -- END OF PERIOD (NOTE 1)............................. $153,654 $13,982,709 $11,042,248
============ ================ ================
<CAPTION>
ASSET ALLOCATION OPTIONS (CONCLUDED):
---------------------------------------
EQ/PUTNAM
BALANCED
----------------------------------
1999 1998
---------------- ----------------
<S> <C> <C>
INCREASE (DECREASE) IN NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).................................. $ 600,374 $ 346,828
Net realized gain (loss) on investments....................... 2,530,297 702,128
Change in unrealized appreciation
(depreciation) of investments.............................. (3,992,030) 1,408,394
---------------- ----------------
Net increase (decrease) in net assets from operations......... (861,359) 2,457,350
---------------- ----------------
FROM CONTRACTOWNERS TRANSACTIONS (NOTE 4):
Contributions and Transfers:
Contributions.............................................. 8,724,210 10,044,027
Transfers from other variable investment
options and Guaranteed Interest Account................. 13,434,909 24,576,797
---------------- ----------------
Total................................................ 22,159,119 34,620,824
---------------- ----------------
Payments, Transfers and Charges:
Annuity payments, withdrawals
and death benefits...................................... 2,214,146 975,331
Transfers to other Funds and
Guaranteed Interest Account............................. 9,911,791 13,658,260
Withdrawal and administrative charges...................... 33,963 20,744
---------------- ----------------
Total................................................ 12,159,900 14,654,335
---------------- ----------------
Net increase (decrease) in net assets from
Contractowners transactions................................ 9,999,219 19,966,489
---------------- ----------------
Net (increase) decrease in amount retained by
Equitable Life in Separate Account A (Note 3).............. (80,011) (3,502,422)
---------------- ----------------
INCREASE (DECREASE) IN NET ASSETS................................ 9,057,849 18,921,417
NET ASSETS -- BEGINNING OF PERIOD................................ 34,787,837 15,866,420
---------------- ----------------
NET ASSETS -- END OF PERIOD (NOTE 1)............................. $43,845,686 $34,787,837
================ ================
</TABLE>
- ------------------------
(a) Commenced operations on August 30, 1999.
See Notes to Financial Statements.
FSA-18
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1999
1. General
The Equitable Life Assurance Society of the United States (Equitable Life)
Separate Account A (The Account) is organized as a unit investment trust, a
type of investment company, and is registered with the Securities and
Exchange Commission under the Investment Company Act of 1940. EQ Advisors
Trust ("EQAT" or "Trust") commenced operations on May 1, 1997. EQAT is an
open-end, diversified investment management company that sells shares of a
portfolio ("Portfolio") of a mutual fund to separate accounts of insurance
companies. Each Portfolio has separate investment objectives.
For periods prior to October 18, 1999, the Alliance portfolios (other than
EQ/Alliance Premier Growth) were part of The Hudson River Trust ("HRT"). On
October 18, 1999, a Substitution of new Portfolios of EQAT for the Portfolios
of HRT was performed. At that time assets of each of the HRT Portfolios were
transferred to the corresponding new Portfolios of EQAT. Class IA shares and
Class IB shares of the HRT became Class IA shares and Class IB shares of
EQAT.
Prior to the Substitution, Alliance Capital Management L.P., an indirect,
majority-owned subsidiary of Equitable Life, managed HRT and was investment
advisor for all the HRT Portfolios. Subsequent to the Substitution, Alliance
continues as investment advisor for the Alliance portfolios (including
EQ/Alliance Premier Growth).
Effective September 1999, Equitable Life serves as investment manager of
EQAT. As such Equitable Life oversees the activities of the investment
advisors with respect to EQAT and is responsible for retaining or
discontinuing the services of those advisors. Prior to September 1999, AXA
Advisors, LLC (formerly EQ Financial Consultants, Inc.), a subsidiary of
Equitable Life, served as investment manager to EQAT.
Effective September 1999, AXA Advisors was sold by Equitable Life to an
affiliated company. AXA Advisors, LLC earns fees from EQAT under distribution
agreements held with the Trust. Equitable Life also earns fees under an
investment management agreement with EQAT. Alliance earns fees under an
investment advisory agreement with Equitable Life.
The Account consists of 35 variable investment options:
FIXED INCOME OPTIONS:
Domestic Fixed Income
o Alliance Intermediate Government Securities
o Alliance Money Market
o Alliance Quality Bond
Aggressive Fixed Income
o Alliance High Yield
EQUITY OPTIONS:
Domestic Equity
o Alliance Common Stock
o Alliance Equity Index
o Alliance Growth & Income
o EQ/Alliance Premier Growth
o Calvert Socially Responsible
o Capital Guardian Research
o Capital Guardian U.S. Equity
o MFS Growth with Income
o MFS Research
o Merrill Lynch Basic Value Equity
o EQ/Putnam Growth & Income Value
o EQ/Putnam Investors Growth
o T. Rowe Price Equity Income
International Equity
o Alliance Global
o Alliance International
o Capital Guardian International
o Morgan Stanley Emerging Markets Equity
o EQ/Putnam International Equity
o T. Rowe Price International Stock
Aggressive Equity
o Alliance Aggressive Stock
o Alliance Small Cap Growth
o EQ/Evergreen
o Lazard Small Cap
o MFS Emerging Growth Companies
o Warburg Pincus Small Company Value
ASSET ALLOCATION OPTIONS:
o Alliance Balanced
o Alliance Conservative Investors
o Alliance Growth Investors
o EQ/Evergreen Foundation
o Merrill Lynch World Strategy
o EQ/Putnam Balanced
FSA-19
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
1. General (Continued)
The assets in each variable investment option are invested in Class IA and IB
shares of a corresponding portfolio (Portfolio) of a mutual fund of EQAT.
Class IA and IB shares are offered by EQAT at net asset value. Both classes
of shares are subject to fees for investment management and advisory services
and other Trust expenses. Class IA shares are not subject to distribution
fees imposed pursuant to a distribution plan. Class IB shares are also
subject to distribution fees imposed under a distribution plan (herein, the
"Rule 12b-1 Plans") adopted pursuant to Rule 12b-1 under the 1940 Act, as
amended. The Rule 12b-1 Plans provide that EQAT, on behalf of each Fund, may
charge annually up to 0.25% of the average daily net assets of a variable
investment option attributable to its Class IB shares in respect of
activities primarily intended to result in the sale of the Class IB shares.
These fees are reflected in the net asset value of the shares.
The Account is used to fund benefits for variable annuities issued by
Equitable Life including certain individual tax-favored variable annuity
contracts (Old Contracts), individual non-qualified variable annuity
contracts (EQUIPLAN Contracts), tax-favored and non-qualified certificates
issued under group deferred variable annuity contracts and certain related
individual contracts (EQUI-VEST Contracts), group deferred variable annuity
contracts used to fund tax-qualified defined contribution plans (Momentum
Contracts) and group variable annuity contracts used as a funding vehicle for
employers who sponsor qualified defined contribution plans (Momentum Plus).
All of these contracts and certificates are collectively referred to as the
Contracts.
The net assets of the Account are not chargeable with liabilities arising
out of any other business Equitable Life may conduct. The excess of assets
over reserves and other contract liabilities, if any, in the Account may be
transferred to Equitable Life's General Account. Equitable Life's General
Account is subject to creditor rights. Due to/from Equitable Life's General
Account represents amounts receivable/payable to/from the General Account
and is predominately related to policy-related transactions, premiums,
surrenders and death benefits.
2. Significant Accounting Policies
The accompanying financial statements are prepared in conformity with
generally accepted accounting principles (GAAP). The preparation of financial
statements in conformity with GAAP requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
Investments are made in shares of EQAT and are valued at the net asset values
per share of the respective Portfolios. The net asset value is determined by
EQAT using the market or fair value of the underlying assets of the Portfolio
less liabilities.
Investment transactions are recorded by the Account on the trade date.
Dividends and capital gains are declared and distributed by the Trust at the
end of the year and are automatically reinvested on the ex-dividend date.
Realized gains and losses include (1) gains and losses on redemptions of
EQAT's shares (determined on the identified cost basis) and (2) Trust
distributions representing the net realized gains on Trust investment
transactions.
No federal income tax based on net income or realized and unrealized capital
gains is currently applicable to Contracts participating in the Account by
reason of applicable provisions of the Internal Revenue Code and no federal
income tax payable by Equitable Life is expected to affect the unit value of
Contracts participating in the Account. Accordingly, no provision for income
taxes is required. Equitable Life retains the right to charge for any federal
income tax incurred which is attributable to the Account if the law is
changed.
FSA-20
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
3. Asset Charges
The following charges are made directly against the daily net assets of the
Account and are reflected daily in the computation of the accumulation unit
values of the Contracts:
<TABLE>
<CAPTION>
DEATH MORTALITY OTHER EXPENSE FINANCIAL
BENEFITS RISKS EXPENSES RISKS ACCOUNTING TOTAL
----------- ----------- ----------- ---------- ------------ ----------
<S> <C> <C> <C> <C> <C> <C>
EQUI-VEST/
MOMENTUM CONTRACTS
Alliance Money Market Fund,
Alliance Balanced Fund
Alliance Common Stock Fund 0.05% 0.30% 0.60% 0.30% 0.24% 1.49%
All Other Funds 0.05% 0.30% 0.60% 0.15% 0.24% 1.34%
MOMENTUM PLUS CONTRACTS -- ALL
FUNDS -- 0.50% 0.25% 0.60% -- 1.35%
OLD CONTRACTS
Common Stock and Money Market
Funds 0.05% 0.45% 0.16% 0.08% -- .74%
EQUIPLAN CONTRACTS
Common Stock and
Intermediate Government
Securities Funds 0.05% 0.45% 0.16% 0.08% -- .74%
EQUI-VEST SERIES 300 & SERIES
400 CONTRACTS
Alliance Money Market Fund
Alliance Common Stock Fund
Alliance Aggressive Stock Fund
Alliance Balanced Fund -- 0.60% 0.25% 0.50% -- 1.35%
All Other Funds -- 0.60% 0.24%* 0.50% -- 1.34%
EQUI-VEST SERIES 500 CONTRACTS
All Funds -- 0.70% 0.25% 0.50% -- 1.45%
EQUI-VEST SERIES 600 CONTRACTS
All Funds -- 0.45% 0.25% 0.50% -- 1.20%
<CAPTION>
MORTALITY AND
DEATH EXPENSE OTHER EXPENSE FINANCIAL
BENEFITS RISKS EXPENSES RISKS ACCOUNTING TOTAL
----------- ----------- ----------- ---------- ------------ ----------
<S> <C> <C> <C> <C> <C> <C>
EQUI-VEST EXPRESS SERIES 700
CONTRACTS
All Funds -- 0.70% 0.25% -- -- 0.95%
EQUI-VEST SERIES 800 CONTRACTS
All Funds -- 0.95% 0.25% -- -- 1.20%
</TABLE>
--------------
* During 1999, Equitable Life charged EQUI-VEST Series 300 and 400 Contracts
0.24% against the assets of the Trust for expenses, except as noted. This
voluntary expense limitation discounted from 0.25% to 0.24% may be
discontinued by Equitable Life at its discretion.
The above charges may be retained in the Account by Equitable Life and, to
the extent retained, participate in the net investment results of EQAT
ratably with assets attributable to the Contracts.
Since EQAT shares are valued at their net asset value, investment advisory
fees and direct operating expenses of EQAT are, in effect, passed on to the
Account and are reflected in the computation of the accumulation unit values
of the Contracts.
Under the terms of the Contracts, the aggregate of these asset charges and
the charges of the Trust for advisory fees and for direct operating expenses
may not exceed a total effective annual rate of 1.75% for EQUI-VEST and
Momentum Contracts for the Alliance
FSA-21
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
3. Asset Charges (Continued)
Money Market Fund, the Alliance Common Stock Fund, the Alliance Aggressive
Stock Fund, the Alliance Balanced Funds and 1% for the Old Contracts and
EQUIPLAN Contracts.
Under the Contracts, the total charges may be reallocated among the various
expense categories. Equitable Life, however, intends to limit any possible
reallocation to include only the expense risks, mortality risks and death
benefit charges.
4. Contributions, Payments, Transfers and Charges
Contributions represent participant contributions under EQUI-VEST, Momentum,
Momentum Plus and EQUI-VEST Series 300 through 800 Contracts (but excludes
amounts allocated to the Guaranteed Interest Account, which are reflected in
the General Account) and participant contributions under other Contracts (Old
Contracts, EQUIPLAN) reduced by applicable deductions, charges and state
premium taxes. Contributions also include amounts applied to purchase
variable annuities. Transfers are amounts that participants have directed to
be moved among the Funds, including permitted transfers to and from the
Guaranteed Interest Account, which is part of Equitable Life's General
Account.
Variable annuity payments and death benefits are payments to participants and
beneficiaries made under the terms of the Contracts. Withdrawals are amounts
that participants have requested to be withdrawn and paid to them or applied
to purchase annuities. Withdrawal charges, if applicable, are the deferred
contingent withdrawal charges that apply to certain withdrawals under
EQUI-VEST, Momentum, Momentum Plus and EQUI-VEST Series 300 through 800
Contracts. Administrative charges, if applicable, are deducted annually under
EQUI-VEST, EQUIPLAN and Old Contracts and quarterly under Momentum, Momentum
Plus and EQUI-VEST Series 300 through 800 Contracts.
Accumulation units issued and redeemed during the periods indicated were:
(Acronym BP refers to total Basis Points charged for that product as
described in Footnote 3)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Fixed Income Options:
ALLIANCE INTERMEDIATE GOVERNMENT
SECURITIES
- ------------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 15,460 5,893
Momentum Plus Contracts 135 BP.................... 22,427 50,402
Momentum Plus Contracts 100 BP.................... 1 1,592
EQUIPLAN Contracts................................ -- 4
EQUI-VEST Contracts Series 300 & 400 134 BP....... 185,382 216,535
EQUI-VEST Contracts Series 500 145 BP............. 199 78
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,400 --
EQUI-VEST Contracts Series 600 90 BP.............. 3,025 --
EQUI-VEST Express Contracts Series 700 95 BP...... 2,848 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 12,715 4,863
Momentum Plus Contracts 135 BP.................... 35,566 51,462
Momentum Plus Contracts 100 BP.................... 3,569 471
EQUIPLAN Contracts................................ 1,406 4,747
EQUI-VEST Contracts Series 300 & 400 134 BP....... 139,676 103,688
EQUI-VEST Contracts Series 500 145 BP............. 19 45
EQUI-VEST Contracts Series 600 & 800 120 BP....... 195 --
EQUI-VEST Contracts Series 600 90 BP.............. 68 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-22
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Fixed Income Options (Continued):
ALLIANCE MONEY MARKET
- ---------------------
Issued -- EQUI-VEST Contracts............................... 1,601,533 1,229,299
Momentum Contracts................................ 674,927 386,247
Momentum Plus Contracts 135 BP.................... 522,422 503,516
Momentum Plus Contracts 100 BP.................... 1,165 7,375
Old Contracts..................................... -- 42
EQUI-VEST Contracts Series 300 & 400 135 BP....... 733,606 458,194
EQUI-VEST Contracts Series 500 145 BP............. 1,201 547
EQUI-VEST Contracts Series 600 & 800 120 BP....... 25,829 --
EQUI-VEST Contracts Series 600 90 BP.............. 4,849 --
EQUI-VEST Express Contracts Series 700 95 BP...... 46,749 --
Redeemed -- EQUI-VEST Contracts............................... 1,345,411 941,797
Momentum Contracts................................ 573,316 326,686
Momentum Plus Contracts 135 BP.................... 513,142 506,664
Momentum Plus Contracts 100 BP.................... 9,352 10,102
Old Contracts..................................... 914 2,025
EQUI-VEST Contracts Series 300 & 400 135 BP....... 635,870 341,437
EQUI-VEST Contracts Series 500 145 BP............. 1,351 156
EQUI-VEST Contracts Series 600 & 800 120 BP ...... 9,279 --
EQUI-VEST Contracts Series 600 90 BP ............. 3,358 --
EQUI-VEST Express Contracts Series 700 95 BP...... 3,903 --
ALLIANCE QUALITY BOND
- ---------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 7,021 10,469
Momentum Plus Contracts 135 BP.................... 27,397 36,968
Momentum Plus Contracts 100 BP.................... 10 444
Old Contracts..................................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 287,495 483,053
EQUI-VEST Contracts Series 500 145 BP............. 216 146
EQUI-VEST Contracts Series 600 & 800 120 BP....... 4,070 --
EQUI-VEST Contracts Series 600 90 BP.............. 3,206 --
EQUI-VEST Express Contracts Series 700 95 BP...... 4,167 --
</TABLE>
FSA-23
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Fixed Income Options (Concluded):
ALLIANCE QUALITY BOND
(CONCLUDED)
- ----------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 6,707 5,361
Momentum Plus Contracts 135 BP.................... 33,070 27,523
Momentum Plus Contracts 100 BP.................... 1,353 182
Old Contracts..................................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 222,493 209,302
EQUI-VEST Contracts Series 500 145 BP............. 96 19
EQUI-VEST Contracts Series 600 & 800 120 BP....... 402 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,586 --
EQUI-VEST Express Contracts Series 700 95 BP...... 16 --
ALLIANCE HIGH
YIELD
- ----------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 12,411 19,540
Momentum Plus Contracts 135 BP.................... 39,641 45,063
Momentum Plus Contracts 100 BP.................... 11 1,531
Old Contracts..................................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 324,376 976,709
EQUI-VEST Contracts Series 500 145 BP............. 637 387
EQUI-VEST Contracts Series 600 & 800 120 BP....... 5,169 1
EQUI-VEST Contracts Series 600 90 BP.............. 16,437 --
EQUI-VEST Express Contracts Series 700 95 BP...... 3,618 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 14,640 11,692
Momentum Plus Contracts 135 BP.................... 57,901 55,069
Momentum Plus Contracts 100 BP.................... 5,171 1,524
Old Contracts..................................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 490,350 643,692
EQUI-VEST Contracts Series 500 145 BP............. 103 8
EQUI-VEST Contracts Series 600 & 800 120 BP....... 228 --
EQUI-VEST Contracts Series 600 90 BP.............. 11,758 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-24
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options:
ALLIANCE COMMON STOCK
- ---------------------
Issued -- EQUI-VEST Contracts............................... 3,241,060 4,199,955
Momentum Contracts................................ 175,408 171,967
Momentum Plus Contracts 135 BP.................... 428,759 479,798
Momentum Plus Contracts 100 BP.................... 2,010 10,617
Momentum Plus Contracts 90 BP..................... -- 2,467
Old Contracts..................................... -- 19
EQUIPLAN Contracts................................ -- 4
EQUI-VEST Contracts Series 300 & 400 135 BP....... 2,214,776 2,035,253
EQUI-VEST Contracts Series 500 145 BP............. 15,117 4,784
EQUI-VEST Contracts Series 600 & 800 120 BP....... 106,914 2
EQUI-VEST Contracts Series 600 90 BP.............. 289,677 --
EQUI-VEST Express Contracts Series 700 95 BP...... 25,534 --
Redeemed -- EQUI-VEST Contracts............................... 3,767,190 4,354,955
Momentum Contracts................................ 213,824 169,605
Momentum Plus Contracts 135 BP.................... 529,883 539,175
Momentum Plus Contracts 100 BP.................... 25,998 8,027
Momentum Plus Contracts 90 BP..................... -- 686
Old Contracts..................................... 32,470 42,795
EQUIPLAN Contracts................................ 4,522 14,746
EQUI-VEST Contracts Series 300 & 400 135 BP....... 1,520,593 992,260
EQUI-VEST Contracts Series 500 145 BP............. 817 56
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,500 --
EQUI-VEST Contracts Series 600 90 BP.............. 56,355 --
EQUI-VEST Express Contracts Series 700 95 BP...... 119 --
ALLIANCE EQUITY INDEX
- ---------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 92,446 79,518
Momentum Plus Contracts 135 BP.................... 195,122 205,393
Momentum Plus Contracts 100 BP.................... 871 6,938
Momentum Plus Contracts 90 BP..................... 929 1,097
EQUI-VEST Contracts Series 300 & 400 134 BP....... 3,313,145 3,094,562
EQUI-VEST Contracts Series 500 145 BP............. 7,433 2,295
EQUI-VEST Contracts Series 600 & 800 120 BP....... 51,909 3
EQUI-VEST Contracts Series 600 90 BP.............. 68,076 --
EQUI-VEST Express Contracts Series 700 95 BP...... 9,913 --
</TABLE>
FSA-25
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
ALLIANCE EQUITY INDEX (CONCLUDED)
- ---------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 55,383 37,943
Momentum Plus Contracts 135 BP.................... 173,898 153,058
Momentum Plus Contracts 100 BP.................... 6,729 1,574
Momentum Plus Contracts 90 BP..................... 550 193
EQUI-VEST Contracts Series 300 & 400 134 BP....... 2,539,543 1,974,951
EQUI-VEST Contracts Series 500 145 BP............. 1,019 44
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,563 --
EQUI-VEST Contracts Series 600 90 BP.............. 15,055 --
EQUI-VEST Express Contracts Series 700 95 BP...... 611 --
ALLIANCE GROWTH & INCOME
- ------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 46,367 52,613
Momentum Plus Contracts 135 BP.................... 102,674 113,506
Momentum Plus Contracts 100 BP.................... 554 4,425
Momentum Plus Contracts 90 BP..................... 505 642
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,202,829 1,224,228
EQUI-VEST Contracts Series 500 145 BP............. 2,959 1,401
EQUI-VEST Contracts Series 600 & 800 120 BP....... 38,707 --
EQUI-VEST Contracts Series 600 90 BP.............. 15,419 --
EQUI-VEST Express Contracts Series 700 95 BP...... 14,261 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 33,820 25,771
Momentum Plus Contracts 135 BP.................... 94,715 87,335
Momentum Plus Contracts 100 BP.................... 3,298 1,838
Momentum Plus Contracts 90 BP..................... 90 38
EQUI-VEST Contracts Series 300 & 400 134 BP....... 582,912 548,572
EQUI-VEST Contracts Series 500 145 BP............. 87 9
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,281 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,097 --
EQUI-VEST Express Contracts Series 700 95 BP...... 29 --
</TABLE>
FSA-26
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
EQ/ALLIANCE PREMIER GROWTH
- --------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 13,459 --
Momentum Plus Contracts 135 BP.................... 6,290 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... 209 --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,015,911 --
EQUI-VEST Contracts Series 500 145 BP............. 470 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 36,664 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,366 --
EQUI-VEST Express Contracts Series 700 95 BP...... 20,919 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 220 --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 128,767 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 186 --
EQUI-VEST Contracts Series 600 90 BP.............. 3 --
EQUI-VEST Express Contracts Series 700 95 BP...... 73 --
CALVERT SOCIALLY RESPONSIBLE
- ----------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 4,718 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1 --
EQUI-VEST Contracts Series 600 90 BP.............. 237 --
</TABLE>
FSA-27
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
CALVERT SOCIALLY RESPONSIBLE (CONCLUDED)
- ----------------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 716 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
CAPITAL GUARDIAN RESEARCH
- -------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... 150 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 10,886 --
EQUI-VEST Contracts Series 500 145 BP............. 3 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 847 --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... 7 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... 98 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 3,291 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-28
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
CAPITAL GUARDIAN U.S. EQUITY
- ----------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 57 --
Momentum Plus Contracts 135 BP.................... 39 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 14,409 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 581 --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... 317 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,552 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
MFS GROWTH WITH INCOME
- ----------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 91 --
Momentum Plus Contracts 135 BP.................... 79 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 18,783 --
EQUI-VEST Contracts Series 500 145 BP............. 16 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 2,469 --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... 833 --
</TABLE>
FSA-29
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
MFS GROWTH WITH INCOME (CONCLUDED)
- -------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,183 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 10 --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
MFS RESEARCH
- ------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 7,188 4,266
Momentum Plus Contracts 135 BP.................... 31,459 3,956
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 706,130 811,244
EQUI-VEST Contracts Series 500 145 BP............. 1,831 897
EQUI-VEST Contracts Series 600 & 800 120 BP....... 6,127 --
EQUI-VEST Contracts Series 600 90 BP.............. 6,138 --
EQUI-VEST Express Contracts Series 700 95 BP...... 2,879 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 3,230 455
Momentum Plus Contracts 135 BP.................... 8,253 1,331
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 466,481 327,759
EQUI-VEST Contracts Series 500 145 BP............. 179 11
EQUI-VEST Contracts Series 600 & 800 120 BP....... 18 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,687 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-30
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
MERRILL LYNCH BASIC VALUE EQUITY
- --------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 6,310 3,082
Momentum Plus Contracts 135 BP.................... 20,448 2,932
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 450,684 563,336
EQUI-VEST Contracts Series 500 145 BP............. 733 352
EQUI-VEST Contracts Series 600 & 800 120 BP....... 7,429 1
EQUI-VEST Contracts Series 600 90 BP.............. 2,506 --
EQUI-VEST Express Contracts Series 700 95 BP...... 4,965 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 3,499 --
Momentum Plus Contracts 135 BP.................... 7,742 991
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 277,983 263,606
EQUI-VEST Contracts Series 500 145 BP............. 34 10
EQUI-VEST Contracts Series 600 & 800 120 BP....... 5 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,038 --
EQUI-VEST Express Contracts Series 700 95 BP...... 18 --
EQ/PUTNAM GROWTH & INCOME VALUE
- -------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 2,743 523
Momentum Plus Contracts 135 BP.................... 12,758 2,572
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 261,643 431,414
EQUI-VEST Contracts Series 500 145 BP............. 840 407
EQUI-VEST Contracts Series 600 & 800 120 BP....... 3,176 1
EQUI-VEST Contracts Series 600 90 BP.............. 2,166 --
EQUI-VEST Express Contracts Series 700 95 BP...... 199 --
</TABLE>
FSA-31
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued
EQ/PUTNAM GROWTH & INCOME VALUE (CONCLUDED)
- -------------------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 817 --
Momentum Plus Contracts 135 BP.................... 3,123 328
Momentum Plus Contracts 100 BP.................... -- 507
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 195,000 99,601
EQUI-VEST Contracts Series 500 145 BP............. 44 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 102 --
EQUI-VEST Contracts Series 600 90 BP.............. 302 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
EQ/PUTNAM INVESTORS GROWTH
- --------------------------
Issued -- Momentum Contracts................................ 694 --
Momentum Plus Contracts 135 BP.................... 278 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
Redeemed -- Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
T. ROWE PRICE EQUITY INCOME
- ---------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 4,967 1,360
Momentum Plus Contracts 135 BP.................... 24,254 3,355
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 367,590 838,991
EQUI-VEST Contracts Series 500 145 BP............. 437 418
EQUI-VEST Contracts Series 600 & 800 120 BP....... 3,199 1
EQUI-VEST Contracts Series 600 90 BP.............. 5,796 --
EQUI-VEST Express Contracts Series 700 95 BP...... 2,378 --
</TABLE>
FSA-32
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
T. ROWE PRICE EQUITY INCOME
(CONCLUDED)
- ---------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 1,395 214
Momentum Plus Contracts 135 BP.................... 3,459 628
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 365,900 244,081
EQUI-VEST Contracts Series 500 145 BP............. 132 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 3 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,459 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
ALLIANCE GLOBAL
- ---------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 45,099 49,409
Momentum Plus Contracts 135 BP.................... 107,747 127,169
Momentum Plus Contracts 100 BP.................... 538 2,960
Momentum Plus Contracts 90 BP..................... 931 1,062
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,794,736 885,709
EQUI-VEST Contracts Series 500 145 BP............. 1,278 509
EQUI-VEST Contracts Series 600 & 800 120 BP....... 22,689 1
EQUI-VEST Contracts Series 600 90 BP.............. 13,741 --
EQUI-VEST Express Contracts Series 700 95 BP...... 8,650 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 44,663 40,074
Momentum Plus Contracts 135 BP.................... 162,580 182,741
Momentum Plus Contracts 100 BP.................... 8,551 3,546
Momentum Plus Contracts 90 BP..................... 386 266
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,680,726 859,826
EQUI-VEST Contracts Series 500 145 BP............. 54 12
EQUI-VEST Contracts Series 600 & 800 120 BP....... 2,601 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,106 --
EQUI-VEST Express Contracts Series 700 95 BP...... 12 --
</TABLE>
FSA-33
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
-------------------------------------
1999 1998
-------------- ------------
<S> <C> <C>
Equity Options (Continued):
ALLIANCE INTERNATIONAL
- ----------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 14,570 19,308
Momentum Plus Contracts 135 BP.................... 54,980 45,097
Momentum Plus Contracts 100 BP.................... 975 1,430
Momentum Plus Contracts 90 BP..................... 142 368
EQUI-VEST Contracts Series 300 & 400 134 BP....... 5,204,881 2,265,890
EQUI-VEST Contracts Series 500 145 BP............. 15,482 149
EQUI-VEST Contracts Series 600 & 800 120 BP....... 4,825 --
EQUI-VEST Contracts Series 600 90 BP.............. 4,992 --
EQUI-VEST Express Contracts Series 700 95 BP...... 1,130 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 14,441 14,348
Momentum Plus Contracts 135 BP.................... 57,727 43,776
Momentum Plus Contracts 100 BP.................... 1,736 860
Momentum Plus Contracts 90 BP..................... 100 162
EQUI-VEST Contracts Series 300 & 400 134 BP....... 5,249,623 2,262,822
EQUI-VEST Contracts Series 500 145 BP............. 14,287 4
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,629 --
EQUI-VEST Contracts Series 600 90 BP.............. 531 --
EQUI-VEST Express Contracts Series 700 95 BP...... 9 --
CAPITAL GUARDIAN INTERNATIONAL
- ------------------------------
Issued -- Momentum Contracts................................ 376 --
Momentum Plus Contracts 135 BP.................... 83 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
Redeemed -- Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
</TABLE>
FSA-34
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
MORGAN STANLEY EMERGING MARKETS EQUITY
- --------------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 6,625 453
Momentum Plus Contracts 135 BP.................... 14,449 1,191
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 3,333,785 971,105
EQUI-VEST Contracts Series 500 145 BP............. 425 86
EQUI-VEST Contracts Series 600 & 800 120 BP....... 6,913 1
EQUI-VEST Contracts Series 600 90 BP.............. 3,811 --
EQUI-VEST Express Contracts Series 700 95 BP...... 1,157 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 604 --
Momentum Plus Contracts 135 BP.................... 4,339 84
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 2,960,612 863,432
EQUI-VEST Contracts Series 500 145 BP............. 16 2
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,643 --
EQUI-VEST Contracts Series 600 90 BP.............. 1,687 --
EQUI-VEST Express Contracts Series 700 95 BP...... 14 --
EQ/PUTNAM INTERNATIONAL EQUITY
- ------------------------------
Issued -- Momentum Contracts................................ 1,130 --
Momentum Plus Contracts 135 BP.................... 483 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
Redeemed -- Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
</TABLE>
FSA-35
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
T. ROWE PRICE INTERNATIONAL STOCK
- ---------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 3,624 1,408
Momentum Plus Contracts 135 BP.................... 17,131 3,038
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,050,427 922,463
EQUI-VEST Contracts Series 500 145 BP............. 617 245
EQUI-VEST Contracts Series 600 & 800 120 BP....... 3,760 1
EQUI-VEST Contracts Series 600 90 BP.............. 2,676 --
EQUI-VEST Express Contracts Series 700 95 BP...... 3,343 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 325 904
Momentum Plus Contracts 135 BP.................... 6,200 401
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 956,309 640,201
EQUI-VEST Contracts Series 500 145 BP............. 40 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 389 --
EQUI-VEST Contracts Series 600 90 BP.............. 482 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
ALLIANCE AGGRESSIVE STOCK
- -------------------------
Issued -- EQUI-VEST Contracts............................... 5,109,687 7,874,975
Momentum Contracts................................ 523,133 567,249
Momentum Plus Contracts 135 BP.................... 362,271 444,735
Momentum Plus Contracts 100 BP.................... 1,715 10,329
Momentum Plus Contracts 90 BP..................... 1,991 2,726
EQUI-VEST Contracts Series 300 & 400 135 BP....... 1,918,066 2,038,278
EQUI-VEST Contracts Series 500 145 BP............. 2,505 1,374
EQUI-VEST Contracts Series 600 & 800 120 BP....... 18,617 --
EQUI-VEST Contracts Series 600 90 BP.............. 160,347 --
EQUI-VEST Express Contracts Series 700 95 BP...... 3,453 --
</TABLE>
FSA-36
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
ALLIANCE AGGRESSIVE STOCK (CONCLUDED)
- -------------------------------------
Redeemed -- EQUI-VEST Contracts............................... 9,797,641 10,271,285
Momentum Contracts................................ 717,280 604,014
Momentum Plus Contracts 135 BP.................... 445,695 567,458
Momentum Plus Contracts 100 BP.................... 29,491 8,422
Momentum Plus Contracts 90 BP..................... 1,900 1,959
EQUI-VEST Contracts Series 300 & 400 135 BP....... 2,280,156 1,922,386
EQUI-VEST Contracts Series 500 145 BP............. 234 2
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,366 --
EQUI-VEST Contracts Series 600 90 BP.............. 33,563 --
EQUI-VEST Express Contracts Series 700 95 BP...... 5 --
ALLIANCE SMALL CAP GROWTH
- -------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 23,724 28,706
Momentum Plus Contracts 135 BP.................... 40,570 47,698
Momentum Plus Contracts 100 BP.................... -- 305
Momentum Plus Contracts 90 BP..................... 213 977
EQUI-VEST Contracts Series 300 & 400 134 BP....... 3,124,353 3,265,688
EQUI-VEST Contracts Series 500 145 BP............. 852 603
EQUI-VEST Contracts Series 600 & 800 120 BP....... 3,404 --
EQUI-VEST Contracts Series 600 90 BP.............. 7,141 --
EQUI-VEST Express Contracts Series 700 95 BP...... 860 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 15,106 7,539
Momentum Plus Contracts 135 BP.................... 48,214 14,989
Momentum Plus Contracts 100 BP.................... 305 --
Momentum Plus Contracts 90 BP..................... 754 119
EQUI-VEST Contracts Series 300 & 400 134 BP....... 3,248,788 2,652,769
EQUI-VEST Contracts Series 500 145 BP............. 117 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,112 --
EQUI-VEST Contracts Series 600 90 BP.............. 2,118 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-37
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
EQ/EVERGREEN
- ------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... 75 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 9,562 --
EQUI-VEST Contracts Series 500 145 BP............. 9 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 323 --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... 47 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 4,605 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
LAZARD SMALL CAP
- ----------------
Issued -- Momentum Contracts................................ 157 --
Momentum Plus Contracts 135 BP.................... 107 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
Redeemed -- Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... 107 --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
</TABLE>
FSA-38
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
MFS EMERGING GROWTH COMPANIES
- -----------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 32,563 5,123
Momentum Plus Contracts 135 BP.................... 110,549 8,576
Momentum Plus Contracts 100 BP.................... 500 --
Momentum Plus Contracts 90 BP..................... 42 --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 2,613,449 2,078,356
EQUI-VEST Contracts Series 500 145 BP............. 4,485 1,523
EQUI-VEST Contracts Series 600 & 800 120 BP....... 37,353 --
EQUI-VEST Contracts Series 600 90 BP.............. 10,711 --
EQUI-VEST Express Contracts Series 700 95 BP...... 17,428 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 4,699 --
Momentum Plus Contracts 135 BP.................... 31,376 1,491
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,275,713 1,244,873
EQUI-VEST Contracts Series 500 145 BP............. 250 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,632 --
EQUI-VEST Contracts Series 600 90 BP.............. 3,557 --
EQUI-VEST Express Contracts Series 700 95 BP...... 83 --
WARBURG PINCUS SMALL COMPANY VALUE
- ----------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 3,593 423
Momentum Plus Contracts 135 BP.................... 9,711 2,025
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 272,603 612,043
EQUI-VEST Contracts Series 500 145 BP............. 3,134 327
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,214 2
EQUI-VEST Contracts Series 600 90 BP.............. 3,096 --
EQUI-VEST Express Contracts Series 700 95 BP...... 786 --
</TABLE>
FSA-39
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Equity Options (Continued):
WARBURG PINCUS SMALL COMPANY VALUE
(CONCLUDED)
- ----------------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 1,274 61
Momentum Plus Contracts 135 BP.................... 4,973 482
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 410,399 329,886
EQUI-VEST Contracts Series 500 145 BP............. 2,746 7
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1 --
EQUI-VEST Contracts Series 600 90 BP.............. 552 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
Asset Allocation Options:
ALLIANCE BALANCED
- -----------------
Issued -- EQUI-VEST Contracts............................... 2,547,481 4,212,025
Momentum Contracts................................ 198,159 226,716
Momentum Plus Contracts 135 BP.................... 130,000 155,854
Momentum Plus Contracts 100 BP.................... 368 4,058
Momentum Plus Contracts 90 BP..................... 516 487
EQUI-VEST Contracts Series 300 & 400 135 BP....... 279,069 357,343
EQUI-VEST Contracts Series 500 145 BP............. 1,251 493
EQUI-VEST Contracts Series 600 & 800 120 BP....... 12,102 --
EQUI-VEST Contracts Series 600 90 BP.............. 73,664 --
EQUI-VEST Express Contracts Series 700 95 BP...... 367,590 --
Redeemed -- EQUI-VEST Contracts............................... 4,474,460 5,887,319
Momentum Contracts................................ 318,908 292,550
Momentum Plus Contracts 135 BP.................... 183,195 220,244
Momentum Plus Contracts 100 BP.................... 9,827 3,530
Momentum Plus Contracts 90 BP..................... 203 61
EQUI-VEST Contracts Series 300 & 400 135 BP....... 334,035 260,878
EQUI-VEST Contracts Series 500 145 BP............. 39 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 861 --
EQUI-VEST Contracts Series 600 90 BP.............. 8,971 --
EQUI-VEST Express Contracts Series 700 95 BP...... 365,900 --
</TABLE>
FSA-40
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Asset Allocation Options (Continued):
ALLIANCE CONSERVATIVE INVESTORS
- -------------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 7,739 8,324
Momentum Plus Contracts 135 BP.................... 34,499 40,973
Momentum Plus Contracts 100 BP.................... 2 1,546
Momentum Plus Contracts 90 BP..................... 495 --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 204,288 213,369
EQUI-VEST Contracts Series 500 145 BP............. 213 49
EQUI-VEST Contracts Series 600 & 800 120 BP....... 6,018 1
EQUI-VEST Contracts Series 600 90 BP.............. 3,346 --
EQUI-VEST Express Contracts Series 700 95 BP...... 3,600 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 9,150 7,000
Momentum Plus Contracts 135 BP.................... 55,731 45,023
Momentum Plus Contracts 100 BP.................... 4,165 2,688
Momentum Plus Contracts 90 BP..................... 57 --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 113,217 105,278
EQUI-VEST Contracts Series 500 145 BP............. 22 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 354 --
EQUI-VEST Contracts Series 600 90 BP.............. 30 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
ALLIANCE GROWTH INVESTORS
- -------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 44,846 50,095
Momentum Plus Contracts 135 BP.................... 121,207 148,895
Momentum Plus Contracts 100 BP.................... 547 4,888
Momentum Plus Contracts 90 BP..................... -- 685
EQUI-VEST Contracts Series 300 & 400 134 BP....... 939,080 882,636
EQUI-VEST Contracts Series 500 145 BP............. 1,515 744
EQUI-VEST Contracts Series 600 & 800 120 BP....... 21,845 1
EQUI-VEST Contracts Series 600 90 BP.............. 20,404 --
EQUI-VEST Express Contracts Series 700 95 BP...... 9,542 --
</TABLE>
FSA-41
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Asset Allocation Options (Continued):
ALLIANCE GROWTH INVESTORS (CONCLUDED)
- -------------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 38,372 38,654
Momentum Plus Contracts 135 BP.................... 203,142 192,540
Momentum Plus Contracts 100 BP.................... 9,726 3,629
Momentum Plus Contracts 90 BP..................... -- 118
EQUI-VEST Contracts Series 300 & 400 134 BP....... 670,587 624,987
EQUI-VEST Contracts Series 500 145 BP............. 76 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 739 --
EQUI-VEST Contracts Series 600 90 BP.............. 2,481 --
EQUI-VEST Express Contracts Series 700 95 BP...... 18 --
EQ/EVERGREEN FOUNDATION
- -----------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 1,169 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 19 --
EQUI-VEST Contracts Series 600 90 BP.............. 123 --
EQUI-VEST Express Contracts Series 700 95 BP...... 44 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ -- --
Momentum Plus Contracts 135 BP.................... -- --
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 132 --
EQUI-VEST Contracts Series 500 145 BP............. -- --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. -- --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-42
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Asset Allocation Options (Continued):
MERRILL LYNCH WORLD STRATEGY
- ----------------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 678 112
Momentum Plus Contracts 135 BP.................... 1,440 841
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 164,781 85,123
EQUI-VEST Contracts Series 500 145 BP............. 88 25
EQUI-VEST Contracts Series 600 & 800 120 BP....... 1,119 1
EQUI-VEST Contracts Series 600 90 BP.............. 760 --
EQUI-VEST Express Contracts Series 700 95 BP...... 139 --
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 22 --
Momentum Plus Contracts 135 BP.................... 479 50
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 160,869 53,481
EQUI-VEST Contracts Series 500 145 BP............. 5 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... 50 --
EQUI-VEST Contracts Series 600 90 BP.............. 186 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
EQ/PUTNAM BALANCED
- ------------------
Issued -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 1,642 442
Momentum Plus Contracts 135 BP.................... 6,446 1,376
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 163,155 290,577
EQUI-VEST Contracts Series 500 145 BP............. 577 174
EQUI-VEST Contracts Series 600 & 800 120 BP....... 2,991 --
EQUI-VEST Contracts Series 600 90 BP.............. 556 --
EQUI-VEST Express Contracts Series 700 95 BP...... 431 --
</TABLE>
FSA-43
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
4. Contributions, Payments, Transfers and Charges (Concluded)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
--------------------------------------
1999 1998
--------------- ------------
<S> <C> <C>
Asset Allocation Options (Concluded):
EQ/PUTNAM BALANCED (CONCLUDED)
- ------------------------------
Redeemed -- EQUI-VEST Contracts............................... -- --
Momentum Contracts................................ 294 --
Momentum Plus Contracts 135 BP.................... 2,375 116
Momentum Plus Contracts 100 BP.................... -- --
Momentum Plus Contracts 90 BP..................... -- --
EQUI-VEST Contracts Series 300 & 400 134 BP....... 93,687 124,887
EQUI-VEST Contracts Series 500 145 BP............. 52 --
EQUI-VEST Contracts Series 600 & 800 120 BP....... -- --
EQUI-VEST Contracts Series 600 90 BP.............. 8 --
EQUI-VEST Express Contracts Series 700 95 BP...... -- --
</TABLE>
FSA-44
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets
Net assets consist of net assets attributable to: (i) Contracts in the
accumulation period, which are represented by Contract accumulation units
outstanding multiplied by net unit values and (ii) actuarial reserves and
other liabilities attributable to Contracts in the payout period which are
not represented by accumulation units or unit values.
Listed below are components of net assets:
<TABLE>
<CAPTION>
FIXED INCOME OPTIONS: EQUITY OPTIONS:
---------------------------------------------------------- --------------------------------
ALLIANCE
INTERMEDIATE ALLIANCE ALLIANCE
GOVERNMENT MONEY QUALITY ALLIANCE HIGH ALLIANCE ALLIANCE EQUITY
SECURITIES MARKET BOND YIELD COMMON STOCK INDEX
----------- ----------- ----------- -------------- ------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............. -- $ 47,953,060 -- -- $6,677,613,399 --
Net assets attributable tO
Old Contracts in
accumulation period............. -- 4,463,407 -- -- 117,229,051 --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............. $ 2,526,522 -- -- -- 36,079,474 --
Net assets attributable to
Momentum Contracts in
accumulation period............. 1,762,846 14,829,201 $ 1,938,838 $ 4,926,158 220,37,339 $ 55,499,299
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period... 7,544,984 41,392,37 5,459,517 12,498,444 336,638,928 97,974,197
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period... 199 226,465 9,645 35,037 4,057,407 1,248,749
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period.... -- -- -- -- 1,852,620 1,040,742
Net assets attributable to
EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............. 44,992,792 44,831,748 78,204,034 143,200,206 2,030,783,065 1,475,046,769
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............. 21,645 25,408 24,662 62,849 2,414,935 1,065,943
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............. 122,831 1,741,360 367,052 419,895 13,379,736 6,193,833
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period.... 302,659 157,802 162,564 400,786 30,365,275 6,661,283
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period.......... 285,876 4,348,318 412,126 359,359 2,821,468 987,585
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............. 33,527 1,059,455 443,945 644,239 48,410,800 6,820,668
----------- ------------ ----------- ------------ -------------- --------------
$57,593,881 $161,028,597 $87,022,383 $162,546,973 $9,522,583,497 $1,652,539,068
=========== ============ =========== ============ ============== ==============
</TABLE>
FSA-45
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets (Continued):
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
--------------------------------------------------------------------------
ALLIANCE EQ/ALLIANCE CALVERT CAPITAL CAPITAL
GROWTH & PREMIER SOCIALLY GUARDIAN GUARDIAN
INCOME GROWTH RESPONSIBLE RESEARCH U.S. EQUITY
------------ ------------ ----------- --------- -----------
<S> <C> <C> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............ -- -- -- -- --
Net assets attributable to
Old Contracts in
accumulation period............ -- -- -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............ -- -- -- -- --
Net assets attributable to
Momentum Contracts in
accumulation period............ $ 27,180,831 $ 1,540,596 -- -- $ 5,781
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period.. 54,435,381 731,869 -- $ 5,583 3,968
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period.. 727,966 -- -- -- --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period... 435,148 24,313 -- -- --
Net assets attributable to
EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............ 774,757,819 103,230,471 $430,560 811,072 1,306,874
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............ 512,279 54,608 -- 327 --
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............ 4,496,396 4,246,843 161 90,515 59,111
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period... 1,751,393 158,860 25,583 -- --
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period......... 1,478,227 2,429,126 -- 762 32,268
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............ 4,679,033 -- -- -- --
------------ ---------- -------- -------- ----------
$870,454,473 $112,416,686 $456,304 $908,259 $1,408,002
============ ============ ======== ======== ==========
</TABLE>
FSA-46
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets (Continued):
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
-------------------------------------------------------------------------------------
MFS
GROWTH MERRILL EQ/PUTNAM EQ/PUTNAM
WITH LYNCH BASIC GROWTH & INVESTORS T. ROWE PRICE
INCOME MFS RESEARCH VALUE EQUITY INCOME VALUE GROWTH EQUITY INCOME
---------- ------------ ------------ ------------ ---------- -------------
<S> <C> <C> <C> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............ -- -- -- -- -- --
Net assets attributable to
Old Contracts in
accumulation period............ -- -- -- -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............ -- -- -- -- -- --
Net assets attributable to
Momentum Contracts into
accumulation period............ $ 9,555 $ 1,328,996 $ 883,035 $ 304,069 $ 85,032 $ 627,908
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period.. 8,279 3,206,695 1,664,977 1,069,594 34,060 2,438,418
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period.. -- -- -- -- -- --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period... -- -- -- -- -- --
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............ 1,838,837 164,111,638 92,449,755 80,862,261 -- 142,591,563
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............ 1,654 304,808 119,311 117,436 -- 74,533
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............ 257,100 736,387 854,262 301,484 -- 330,731
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period... -- 547,897 167,110 183,438 -- 457,017
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period......... 87,116 336,777 480,982 18,354 -- 222,387
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............ -- -- -- -- -- --
---------- ------------ ----------- ----------- -------- ------------
$2,202,541 $170,573,198 $96,619,432 $82,856,636 $119,092 $146,742,557
========== ============ =========== =========== ======== ============
</TABLE>
FSA-47
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets (Continued):
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONTINUED):
-------------------------------------------------------------------------------
CAPITAL MORGAN STANLEY
ALLIANCE GUARDIAN EMERGING
ALLIANCE GLOBAL INTERNATIONAL INTERNATIONAL MARKETS EQUITY
------------------- ------------------- ----------------- -----------------
<S> <C> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period................. -- -- -- --
Net assets attributable to
Old Contracts in
accumulation period................. -- -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period................. -- -- -- --
Net assets attributable to
Momentum Contracts in
accumulation period................. $ 8,999,433 $ 5,972,294 $ 48,726 $ 714,993
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period....... 89,525,048 13,404,451 10,786 1,791,265
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period....... 724,016 491,082 -- --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period........ 757,757 162,375 -- --
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period................. 875,306,152 148,251,698 -- 65,119,721
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period.................. 231,210 169,181 -- 77,496
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period.................. 2,697,765 403,618 -- 830,752
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period......... 1,765,905 585,986 -- 422,428
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............... 1,032,525 142,055 -- 168,785
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout................. 1,042,078 874,821 -- --
-------------------- ----------------- ------------ ----------------
$1,012,081,889 $170,457,561 $ $59,512 $69,125,440
==================== ================= ============ ================
<CAPTION>
EQUITY OPTIONS (CONTINUED):
--------------------------------------------------------
EQ/PUTNAM T. ROWE PRICE
INTERNATIONAL INTERNATIONAL ALLIANCE
EQUITY STOCK AGGRESSIVE STOCK
---------------- ----------------- -------------------
<S> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period................. -- -- $2,211,593,921
Net assets attributable to
Old Contracts in
accumulation period................. -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period................. -- -- --
Net assets attributable to
Momentum Contracts in
accumulation period................. $154,981 $ 541,782 127,393,104
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period....... 66,198 1,684,186 175,047,852
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period....... -- -- 1,533,762
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period........ -- -- 1,083,246
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period................. -- 108,971,732 564,570,320
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period.................. -- 100,369 385,090
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period.................. -- 413,465 1,823,246
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period......... -- 294,311 13,502,403
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............... -- 414,198 387,245
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout................. -- -- 5,435,174
------------ ----------------- -------------------
$221,179 $112,420,043 $3,102,755,363
============ ================= ===================
</TABLE>
FSA-48
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets (Continued):
<TABLE>
<CAPTION>
EQUITY OPTIONS (CONCLUDED):
-------------------------------------------------------------------------
ALLIANCE SMALL CAP
GROWTH EQ/EVERGREEN LAZARD SMALL CAP
--------------------- -------------------- --------------------
<S> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............... -- -- --
Net assets attributable to
Old Contracts in
accumulation period............... -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............... -- -- --
Net assets attributable to
Momentum Contracts in
accumulation period............... $ 5,375,014 -- $15,315
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period..... 5,017,992 $ 8,021 --
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period..... -- -- --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period...... 118,457 -- --
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............... 146,078,308 528,323 --
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............... 146,679 965 --
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............... 251,337 34,397 --
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period...... 554,453 5 --
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............ 112,532 5,033 --
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............... 303,157 -- --
-------------------- --------------- ------------
$157,957,929 $576,744 $15,315
==================== =============== ============
<CAPTION>
EQUITY OPTIONS (CONCLUDED):
-----------------------------------------------------------
MFS EMERGING GROWTH WARBURG PINCUS SMALL
COMPANIES COMPANY VALUE
---------------------------- ----------------------------
<S> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............... -- --
Net assets attributable to
Old Contracts in
accumulation period............... -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............... -- --
Net assets attributable to
Momentum Contracts in
accumulation period............... $ 9,101,853 $ 282,253
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period..... 15,974,271 597,356
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period..... 92,810 --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period...... 7,858 --
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............... 669,751,717 75,896,226
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............... 1,019,057 58,795
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............... 6,345,594 101,234
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period...... 1,190,343 264,497
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............ 2,735,160 83,433
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............... -- --
-------------------- -------------------
$706,218,663 $77,283,794
==================== ===================
</TABLE>
FSA-49
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
5. Net Assets (Concluded):
<TABLE>
<CAPTION>
ASSET ALLOCATION OPTIONS:
---------------------------------------------------------------------------
ALLIANCE
CONSERVATIVE ALLIANCE GROWTH
ALLIANCE BALANCED INVESTORS INVESTORS
------------------------ -------------------- -----------------------
<S> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............... $1,175,378,503 -- --
Net assets attributable to
Old Contracts in
accumulation period............... -- -- --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............... -- -- --
Net assets attributable to
Momentum Contracts in
accumulation period............... 45,345,000 $ 3,565,949 $ 37,228,153
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period..... 59,240,549 15,626,477 97,424,160
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period..... 262,619 250 1,139,649
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period...... 246,610 -- 468,007
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............... 156,507,662 120,303,198 954,347,320
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............... 202,754 26,828 277,645
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............... 1,336,153 631,850 2,684,114
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period...... 7,828,093 374,172 2,328,729
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............ 170,141 375,924 1,069,503
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............... 950,906 1,231,723 3,488,230
----------------------- --------------------- -----------------------
$1,447,468,990 $142,136,371 $1,100,455,510
======================= ===================== =======================
<CAPTION>
ASSET ALLOCATION OPTIONS:
----------------------------------------------------------------
EQ/ EVERGREEN MERRILL LYNCH EQ/PUTNAM
FOUNDATION WORLD STRATEGY BALANCED
----------------- -------------------- --------------------
<S> <C> <C> <C>
Net assets attributable to
EQUI-VEST Contracts in
accumulation period............... --
Net assets attributable to
Old Contracts in
accumulation period............... --
Net assets attributable to
EQUIPLAN Contracts in
accumulation period............... --
Net assets attributable to
Momentum Contracts in
accumulation period............... -- $ 100,545 $ 221,145
Net assets attributable to
Momentum Plus Contracts
135 BP in accumulation period..... -- 178,289 496,064
Net assets attributable to
Momentum Plus Contracts
100 BP in accumulation period..... -- -- --
Net assets attributable to
Momentum Plus Contracts
90 BP in accumulation period...... -- -- --
Net assets attributable
to EQUI-VEST Series 300
& 400 Contracts 134 BP in
accumulation period............... $108,993 11,500,893 42,572,904
Net assets attributable to
EQUI-VEST Series 500
Contracts 145 BP in
accumulation period............... -- 12,266 69,622
Net assets attributable to
EQUI-VEST Series 600 & 800
Contracts 120 BP in
accumulation period............... 1,955 121,881 299,029
Net assets attributable to EQUI-
VEST Series 600 Contracts
90 BP in accumulation period...... 12,909 68,277 54,497
Net assets attributable to
EQUI-VEST Express
Contracts Series 700 95 BP
in accumulation period............ 4,646 15,742 41,224
Net assets attributable to
actuarial reserves, financial
reserves, and other contract
liabilities attributable to
Contracts in payout............... -- -- --
-------------- ------------------- -------------------
$128,503 $11,997,893 $43,754,485
============== =================== ===================
</TABLE>
FSA-50
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
6. Amounts retained by Equitable Life in Separate Account A:
The amount retained by Equitable Life in the Account arises principally from
(1) contributions from Equitable Life, (2) mortality risk, death benefit,
expense and expense risk charges accumulated in the account, and (3) that
portion, determined ratably, of the Account's investment results applicable
to those assets in the Account in excess of the net assets for the
Contracts. Amounts retained by Equitable Life are not subject to charges for
mortality and expense risks and asset-based administrative expenses.
Amounts retained by Equitable Life in the Account may be transferred at any
time by Equitable Life to its General Account.
The following table shows the contributions (withdrawals) in net amounts
retained by Equitable Life by investment fund:
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
VARIABLE INVESTMENT OPTION 1999 1998
-------------------------- ------------------------- -------------------------
<S> <C> <C>
Alliance Intermediate Government Securities...... (802,521) (1,197,288)
Alliance Money Market............................ (1,547,729) (2,688,601)
Alliance Quality Bond............................ (1,005,712) (1,182,381)
Alliance High Yield.............................. (2,404,593) (4,543,159)
Alliance Common Stock............................ (121,476,252) (151,143,037)
Alliance Equity Index............................ (19,773,678) (19,528,595)
Alliance Growth & Income......................... (10,200,561) (10,589,931)
EQ/Alliance Premier Growth (1)................... (189,943) --
Calvert Socially Responsible (1)................. 1,999,222 --
Capital Guardian Research (1).................... 23,701 --
Capital Guardian U.S. Equity..................... 22,190 --
MFS Growth with Income (1)....................... 21,065 --
MFS Research..................................... (1,891,032) (4,354,231)
Merrill Lynch Basic Value Equity................. (1,054,765) (2,601,544)
EQ/Putnam Growth & Income Value.................. (1,248,568) (2,746,396)
EQ/Putnam Investors Growth....................... -- --
T. Rowe Price Equity Income...................... (2,027,611) (3,455,566)
Alliance Global.................................. (10,920,548) (16,871,490)
Alliance International........................... (1,660,381) (3,666,188)
Capital Guardian International (1)............... -- --
Morgan Stanley Emerging Markets Equity........... (3,733,004) (65,019)
EQ/Putnam International Equity................... -- --
T. Rowe Price International Stock................ (1,126,238) (6,729,718)
Alliance Aggressive Stock........................ (39,082,247) (66,908,740)
Alliance Small Cap Growth........................ (1,178,363) (3,390,303)
EQ/Evergreen (1)................................. 24,040 --
Lazard Small Cap................................. -- --
MFS Emerging Growth Companies.................... (4,742,770) (4,963,332)
Warburg Pincus Small Company Value............... (1,075,981) (2,023,318)
Alliance Balanced................................ (19,614,445) (29,775,707)
Alliance Conservative Investors.................. (1,736,098) (3,169,993)
Alliance Growth Investors........................ (12,883,156) (18,612,858)
EQ/Evergreen Foundation (1)...................... 24,827 --
Merrill Lynch World Strategy..................... (134,654) (1,646,130)
EQ/Putnam Balanced............................... (613,248) (3,789,791)
</TABLE>
--------------
(1) Commenced operations on January 1, 1999.
FSA-51
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values
Shown below is accumulation unit value information for units outstanding.
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES --
EQUIPLAN CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $58.81 $54.83 $51.34 $49.69 $44.04
========= ========= ========== ========= =========
Unit value, end of period............... $58.63 $58.81 $54.83 $51.34 $49.69
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 43 45 50 55 50
========= ========= ========== ========= =========
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $126.48 $118.98 $112.40 $109.80 $ 98.19
========= ========= ========= ========= =========
Unit value, end of period............... $124.96 $126.48 $118.98 $112.40 $109.80
========= ========= ========= ========= =========
Number of units outstanding,
end of period (000's)................ 14 11 10 10 7
========= ========= ========= ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $122.00 $114.78 $108.45 $105.94 $ 94.76
========= ========= ========== ========= =========
Unit value, end of period............... $120.52 $122.00 $114.78 $108.45 $105.94
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 63 76 77 81 88
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $119.81 $112.32 $105.75 $100.00
========= ========= ========== =========
Unit value, end of period............... $118.78 $119.81 $112.32 $105.75
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ -- 4 2 2
========= ========= ========== =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $126.48 $118.98 $112.40 $109.80 $ 98.19
========= ========= ========== ========= =========
Unit value, end of period............... $124.96 $126.48 $118.98 $112.40 $109.80
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 360 314 202 146 89
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES --
EQUIPLAN CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $46.25 $42.04 $40.00 $35.17 $33.12
========= ========== ========= ========= =========
Unit value, end of period............... $44.04 $46.25 $42.04 $40.00 $35.17
========= ========== ========= ========= =========
Number of units outstanding,
end of period (000's)................ 54 58 66 74 82
========= ========== ========= ========= =========
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 98.19
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $100.44 $100.00
========= ==========
Unit value, end of period............... $ 94.76 $100.44
========= ==========
Number of units outstanding,
end of period (000's)................ 64 1
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 98.19
=========
Number of units outstanding,
end of period (000's)................ 32
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-52
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- -----------------------------------------
Unit value, beginning of period......... $103.32 $100.00
========= =========
Unit value, end of period............... $101.96 $103.32
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.32 $100.00
========= =========
Unit value, end of period............... $101.97 $103.32
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $102.33
=========
Number of units outstanding,
end of period (000's)................ 3
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $100.40
=========
Number of units outstanding,
end of period (000's)................ 3
=========
ALLIANCE MONEY MARKET --
OLD CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $36.76 $35.12 $33.52 $32.00 $30.44
========= ========= ========== ========= =========
Unit value, end of period............... $38.35 $36.76 $35.12 $33.52 $32.00
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 116 117 119 129 140
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE MONEY MARKET --
OLD CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $29.43 $28.75 $27.92 $26.47 $24.59
========= ========== ========= ========= =========
Unit value, end of period............... $30.44 $29.43 $28.75 $27.92 $26.47
========= ========== ========= ========= =========
Number of units outstanding,
end of period (000's)................ 147 168 204 246 289
========= ========== ========= ========= =========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-53
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE MONEY MARKET (CONTINUED) --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $30.55 $29.41 $28.28 $27.22 $26.08
========= ========= ========== ========= =========
Unit value, end of period............... $31.63 $30.55 $29.41 $28.28 $27.22
========= ========= ========== ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................... 1,516 1,261 973 1,013 1,021
========= ========= ========== ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 469 367 308 240 188
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $120.76 $116.21 $111.75 $107.55 $103.10
========= ========= ========== ========= =========
Unit value, end of period............... $125.06 $120.76 $116.21 $111.75 $107.55
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 331 322 325 307 299
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $114.98 $110.26 $105.65 $100.00
========= ========= ========== =========
Unit value, end of period............... $119.50 $114.98 $110.26 $105.65
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 2 10 13 13
========= ========= ========== =========
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $120.19 $115.66 $111.21 $107.04 $102.61
========= ========= ========== ========= =========
Unit value, end of period............... $124.47 $120.19 $115.66 $111.21 $107.04
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 360 262 146 165 81
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.68 $100.00
========= =========
Unit value, end of period............... $105.20 $101.68
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE MONEY MARKET (CONTINUED) --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $25.41 $25.01 $24.48 $23.38 $21.89
========= ========== ========= ========= =========
Unit value, end of period............... $26.08 $25.41 $25.01 $24.48 $23.38
========= ========== ========= ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................... 1,000 1,065 1,201 1,325 1,307
========= ========== ========= ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 166 56
========= ==========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $100.47 $100.00
========= ==========
Unit value, end of period............... $103.10 $100.47
========= ==========
Number of units outstanding,
end of period (000's)................ 474 62
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $102.61
=========
Number of units outstanding,
end of period (000's)................ 63
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-54
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE MONEY MARKET (CONCLUDED) --
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.68 $100.00
========= =========
Unit value, end of period............... $105.21 $101.68
========= =========
Number of units outstanding,
end of period (000's)................ 17 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.79
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.49
=========
Number of units outstanding,
end of period (000's)................ 43
=========
ALLIANCE QUALITY BOND --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $130.07 $121.30 $112.65 $108.38 $ 93.87
========= ========= ========== ========= =========
Unit value, end of period............... $125.76 $130.07 $121.30 $112.65 $108.38
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 15 15 10 7 4
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $137.23 $127.99 $118.87 $114.38 $ 99.07
========= ========= ========== ========= =========
Unit value, end of period............... $132.67 $137.23 $127.99 $118.87 $114.38
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 41 47 37 28 17
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE MONEY MARKET (CONCLUDED) --
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE QUALITY BOND --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 93.87
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 99.07
=========
Number of units outstanding,
end of period (000's)................ 3
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-55
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE QUALITY BOND (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $126.54 $117.60 $108.84 $100.00
========= ========= ========== =========
Unit value, end of period............... $122.77 $126.54 $117.60 $108.84
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ -- 1 1 1
========= ========= ========== =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $130.07 $121.30 $112.65 $108.38 $ 93.87
========= ========= ========== ========= =========
Unit value, end of period............... $125.76 $130.07 $121.30 $112.65 $108.38
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 622 557 283 196 135
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.62 $100.00
========= =========
Unit value, end of period............... $100.08 $103.62
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.62 $100.00
========= =========
Unit value, end of period............... $100.07 $103.62
========= =========
Number of units outstanding,
end of period (000's)................ 4 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $100.33
=========
Number of units outstanding,
end of period (000's)................ 2
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE QUALITY BOND (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 93.87
=========
Number of units outstanding,
end of period (000's)................ 53
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-56
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE QUALITY BOND (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $99.28
=========
Number of units outstanding,
end of period (000's)................ 4
=========
ALLIANCE HIGH YIELD --
- ----------------------------------------
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $150.42 $160.74 $137.53 $113.44 $ 95.88
========= ========= ========== ========= =========
Unit value, end of period............... $143.43 $150.42 $160.74 $137.53 $113.44
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 34 37 29 18 7
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $160.53 $171.56 $146.80 $121.10 $102.37
========= ========= ========== ========= =========
Unit value, end of period............... $153.05 $160.53 $171.56 $146.80 $121.10
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 82 100 110 94 70
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $140.38 $149.49 $127.46 $100.00
========= ========= ========== =========
Unit value, end of period............... $134.31 $140.38 $149.49 $127.46
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ -- 5 5 5
========= ========= ========== =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $150.42 $160.74 $137.53 $113.44 $ 95.88
========= ========= ========== ========= =========
Unit value, end of period............... $143.43 $150.42 $160.74 $137.53 $113.44
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 998 1,164 831 444 209
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C>
ALLIANCE QUALITY BOND (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE HIGH YIELD --
- ----------------------------------------
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 95.88
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $106.74 $100.00
========= ==========
Unit value, end of period............... $102.37 $106.74
========= ==========
Number of units outstanding,
end of period (000's)................ 38 1
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 95.88
=========
Number of units outstanding,
end of period (000's)................ 99
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-57
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE HIGH YIELD (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $89.20 $100.00
========= =========
Unit value, end of period............... $84.96 $ 89.20
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $89.20 $100.00
========= =========
Unit value, end of period............... $84.97 $ 89.20
========= =========
Number of units outstanding,
end of period (000's)................ 5 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $85.66
=========
Number of units outstanding,
end of period (000's)................ 5
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $99.34
=========
Number of units outstanding,
end of period (000's)................ 4
=========
ALLIANCE COMMON STOCK --
- ----------------------------------------
OLD CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $407.19 $316.64 $246.57 $199.66 $151.67
========= ========= ========== ========= =========
Unit value, end of period............... $506.59 $407.19 $316.64 $246.57 $199.66
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 231 264 307 345 387
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE HIGH YIELD (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE COMMON STOCK --
- ----------------------------------------
OLD CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $155.96 $125.72 $122.56 $ 89.56 $97.97
========= ========== ========= ========= =========
Unit value, end of period............... $151.67 $155.96 $125.72 $122.56 $89.56
========= ========== ========= ========= =========
Number of units outstanding,
end of period (000's)................ 438 467 525 598 694
========= ========== ========= ========= =========
</TABLE>
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-58
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE COMMON STOCK (CONTINUED) --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $323.75 $253.68 $199.05 $162.42 $124.32
========= ========= ========== ========= =========
Unit value, end of period............... $399.74 $323.75 $253.68 $199.05 $162.42
========= ========= ========== ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 16,705 17,231 17,386 16,933 16,292
========= ========= ========== ========= =========
Number of Momentum units outstanding,
end of period (000's) ............. 553 591 519 403 270
========= ========= ========== ========= =========
EQUIPLAN CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $441.07 $342.99 $267.08 $216.27 $164.29
========= ========= ========== ========= =========
Unit value, end of period............... $548.74 $441.07 $342.99 $267.08 $216.27
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 66 70 85 96 108
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $264.22 $207.00 $162.39 $132.47 $101.38
========= ========= ========== ========= =========
Unit value, end of period............... $326.32 $264.22 $207.00 $162.39 $132.47
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 1,032 1,133 1,192 1,039 706
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $206.28 $161.04 $125.89 $100.00
========= ========= ========== =========
Unit value, end of period............... $255.67 $206.28 $161.04 $125.89
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 16 40 37 140
========= ========= ========== =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- --------- ---------- --------- ---------
ALLIANCE COMMON STOCK (CONTINUED) --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $128.81 $104.63 $102.76 $75.67 $ 83.40
========= ========= ========== ========= =========
Unit value, end of period............... $124.32 $128.81 $104.63 $102.76 $ 75.67
========= ========= ========== ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 15,749 13,917 11,841 10,292 9,670
========= ========= ========== ========= =========
Number of Momentum units outstanding,
end of period (000's) ............... 120
========= ========= ========== ========= =========
EQUIPLAN CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $168.93 $136.10 $132.67 $96.95 $106.05
========= ========= ========== ========= =========
Unit value, end of period............... $164.29 $168.93 $136.10 $132.67 $ 96.95
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 119 124 135 144 157
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $105.01 $100.00
========= =========
Unit value, end of period............... $101.38 $105.01
========= =========
Number of units outstanding,
end of period (000's)................ 330 12
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-59
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE COMMON STOCK (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $190.33 $148.44 $115.92
========= ========= ==========
Unit value, end of period............... $236.14 $190.33 $148.44
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 8 7 5
========= ========= ==========
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $252.88 $198.12 $155.42 $126.78 $ 97.03
========= ========= ========== ========= =========
Unit value, end of period............... $312.31 $252.88 $198.12 $155.42 $126.78
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 6,502 5,808 4,765 3,457 1,989
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.87 $100.00
========= =========
Unit value, end of period............... $126.91 $102.87
========= =========
Number of units outstanding,
end of period (000's)................ 19 5
========= =========
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.87 $100.00
========= =========
Unit value, end of period............... $126.92 $102.87
========= =========
Number of units outstanding,
end of period (000's)................ 105 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $130.14
=========
Number of units outstanding,
end of period (000's)................ 233
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE COMMON STOCK (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 97.03
=========
Number of units outstanding,
end of period (000's)................ 948
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-60
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE COMMON STOCK (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $111.02
=========
Number of units outstanding,
end of period (000's)................ 25
=========
ALLIANCE EQUITY INDEX --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $271.24 $214.66 $164.12 $135.94 $100.95
========= ========= ========== ========= =========
Unit value, end of period............... $322.15 $271.24 $214.66 $164.12 $135.94
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 172 135 94 51 12
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $271.11 $214.58 $164.08 $135.92 $100.94
========= ========= ========== ========= =========
Unit value, end of period............... $321.97 $271.11 $214.58 $164.08 $135.92
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 304 283 231 128 44
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $215.84 $170.23 $139.70 $100.00
========= ========= ========== =========
Unit value, end of period............... $257.24 $215.84 $170.23 $139.70
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 5 11 5 4
========= ========= ========== =========
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $190.44 $150.05 $114.21
========= ========= ==========
Unit value, end of period............... $227.20 $190.44 $150.05
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 5 4 3
========= ========= ==========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE COMMON STOCK (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE EQUITY INDEX --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $100.95
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $100.94
=========
Number of units outstanding,
end of period (000's)................ 3
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-61
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE EQUITY INDEX (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $271.24 $214.66 $164.12 $135.94 $100.95
========= ========= ========== ========= =========
Unit value, end of period............... $322.15 $271.24 $214.66 $164.12 $135.94
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 4,579 3,805 2,686 1,486 592
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.68 $100.00
========= =========
Unit value, end of period............... $123.01 $103.68
========= =========
Number of units outstanding,
end of period (000's)................ 9 2
========= =========
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.69 $100.00
========= =========
Unit value, end of period............... $123.02 $103.69
========= =========
Number of units outstanding,
end of period (000's)................ 50 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $125.64
=========
Number of units outstanding,
end of period (000's)................ 53
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.17
=========
Number of units outstanding,
end of period (000's)................ 9
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE EQUITY INDEX (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $100.95
=========
Number of units outstanding,
end of period (000's)................ 47
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-62
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE GROWTH & INCOME --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $213.81 $179.30 $143.37 $121.02 $ 98.86
========= ========= ========== ========= =========
Unit value, end of period............... $250.31 $213.81 $179.30 $143.37 $121.02
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 109 96 69 41 17
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $214.14 $179.60 $143.63 $121.25 $ 99.06
========= ========= ========== ========= =========
Unit value, end of period............... $250.67 $214.14 $179.60 $143.63 $121.25
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 217 209 183 121 67
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $185.60 $155.11 $123.61 $100.00
========= ========= ========== =========
Unit value, end of period............... $218.04 $185.60 $155.11 $123.61
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 3 6 3 3
========= ========= ========== =========
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $174.26 $145.48 $115.81
========= ========= ==========
Unit value, end of period............... $204.92 $174.26 $145.48
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 2 2 1
========= ========= ==========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $213.81 $179.30 $143.37 $121.02 $ 98.86
========= ========= ========== ========= =========
Unit value, end of period............... $250.31 $213.81 $179.30 $143.37 $121.02
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 3,095 2,475 1,800 975 498
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE GROWTH & INCOME --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 98.86
=========
Number of units outstanding,
end of period (000's)................ 4
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 99.06
=========
Number of units outstanding,
end of period (000's)................ 9
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 98.86
=========
Number of units outstanding,
end of period (000's)................ 210
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-63
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
ALLIANCE GROWTH & INCOME (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.73 $100.00
========= =========
Unit value, end of period............... $120.13 $102.73
========= =========
Number of units outstanding,
end of period (000's)................ 4 1
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.73 $100.00
========= =========
Unit value, end of period............... $120.14 $102.73
========= =========
Number of units outstanding,
end of period (000's)................ 37 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $122.29
=========
Number of units outstanding,
end of period (000's)................ 14
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $103.87
=========
Number of units outstanding,
end of period (000's)................ 14
=========
EQ/ALLIANCE PREMIER GROWTH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.36
=========
Number of units outstanding,
end of period (000's)................ 13
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE GROWTH & INCOME (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQ/ALLIANCE PREMIER GROWTH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-64
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
EQ/ALLIANCE PREMIER GROWTH (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.36
=========
Number of units outstanding,
end of period (000's)................ 6
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.51
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.55
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.36
=========
Number of units outstanding,
end of period (000's)................ 887
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.32
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/ALLIANCE PREMIER GROWTH (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-65
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
EQ/ALLIANCE PREMIER GROWTH (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.42
=========
Number of units outstanding,
end of period (000's)................ 36
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.55
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.53
=========
Number of units outstanding,
end of period (000's)................ 21
=========
CALVERT SOCIALLY RESPONSIBLE --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.58
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.57
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/ALLIANCE PREMIER GROWTH (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
CALVERT SOCIALLY RESPONSIBLE --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-66
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
CALVERT SOCIALLY RESPONSIBLE (CONCLUDED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.72
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.76
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.58
=========
Number of units outstanding,
end of period (000's)................ 4
=========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.64
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $107.76
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
CALVERT SOCIALLY RESPONSIBLE (CONCLUDED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-67
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
CAPITAL GUARDIAN RESEARCH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.78
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ---------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.78
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.92
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.96
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.78
=========
Number of units outstanding,
end of period (000's)................ 8
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
CAPITAL GUARDIAN RESEARCH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ---------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-68
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
CAPITAL GUARDIAN RESEARCH (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.74
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.84
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.96
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.94
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
CAPITAL GUARDIAN RESEARCH (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-69
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
CAPITAL GUARDIAN U.S. EQUITY--
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.64
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.64
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.77
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.81
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.64
=========
Number of units outstanding,
end of period (000's)................ 13
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
CAPITAL GUARDIAN U.S. EQUITY--
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-70
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
CAPITAL GUARDIAN U.S. EQUITY (CONCLUDED)--
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.60
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.69
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.79
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $101.79
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
CAPITAL GUARDIAN U.S. EQUITY (CONCLUDED)--
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-71
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
LAZARD SMALL CAP --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $97.34
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $97.34
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $97.47
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $97.50
=========
Number of units outstanding,
end of period (000's)................ --
=========
MFS GROWTH WITH INCOME --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.48
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
LAZARD SMALL CAP --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MFS GROWTH WITH INCOME --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-72
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
MFS GROWTH WITH INCOME (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.48
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.61
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.65
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.48
=========
Number of units outstanding,
end of period (000's)................ 18
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.44
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS GROWTH WITH INCOME (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-73
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MFS GROWTH WITH INCOME (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.53
=========
Number of units outstanding,
end of period (000's)................ 2
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.65
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.63
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MFS RESEARCH --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $140.83 $100.00
========= =========
Unit value, end of period............... $171.06 $140.83
========= =========
Number of units outstanding,
end of period (000's)................ 8 4
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $100.75 $100.00
========= =========
Unit value, end of period............... $122.37 $100.75
========= =========
Number of units outstanding,
end of period (000's)................ 26 3
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS GROWTH WITH INCOME (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MFS RESEARCH --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-74
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
MFS RESEARCH (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $100.92 $100.00
========= =========
Unit value, end of period............... $123.01 $100.92
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $100.97 $100.00
========= =========
Unit value, end of period............... $123.19 $100.97
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $140.83 $115.01 $100.00
========= ========= ==========
Unit value, end of period............... $171.06 $140.83 $115.01
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 959 720 236
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.99 $100.00
========= =========
Unit value, end of period............... $120.11 $ 98.99
========= =========
Number of units outstanding,
end of period (000's)................ 3 1
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $99.10 $100.00
========= =========
Unit value, end of period............... $120.55 $ 99.10
========= =========
Number of units outstanding,
end of period (000's)................ 6 --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS RESEARCH (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-75
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MFS RESEARCH (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $123.09
=========
Number of units outstanding,
end of period (000's)................ 4
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $116.97
=========
Number of units outstanding,
end of period (000's)................ 3
=========
MERRILL LYNCH BASIC VALUE EQUITY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $127.67 $100.00
========= =========
Unit value, end of period............... $149.82 $127.67
========= =========
Number of units outstanding,
end of period (000's)................ 6 3
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.58 $100.00
========= =========
Unit value, end of period............... $115.67 $ 98.58
========= =========
Number of units outstanding,
end of period (000's)................ 14 2
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.75 $100.00
========= =========
Unit value, end of period............... $116.28 $ 98.75
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS RESEARCH (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MERRILL LYNCH BASIC VALUE EQUITY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-76
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
MERRILL LYNCH BASIC VALUE EQUITY (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.80 $100.00
========= =========
Unit value, end of period............... $116.45 $ 98.80
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $127.67 $115.97 $100.00
========= ========= ==========
Unit value, end of period............... $149.82 $127.67 $115.97
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 617 444 145
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
- ----------------------------------------
Unit value, beginning of period......... $97.80 $100.00
========= =========
Unit value, end of period............... $114.64 $ 97.80
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $97.91 $100.00
========= =========
Unit value, end of period............... $115.06 $ 97.91
========= =========
Number of units outstanding,
end of period (000's)................ 7 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $113.77
=========
Number of units outstanding,
end of period (000's)................ 1
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MERRILL LYNCH BASIC VALUE EQUITY (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-77
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MERRILL LYNCH BASIC VALUE EQUITY (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $97.22
=========
Number of units outstanding,
end of period (000's)................ 5
=========
EQ/PUTNAM GROWTH & INCOME VALUE --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $128.20 $100.00
========= =========
Unit value, end of period............... $124.76 $128.20
========= =========
Number of units outstanding,
end of period (000's)................ 2 1
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.60 $100.00
========= =========
Unit value, end of period............... $98.87 $101.60
========= =========
Number of units outstanding,
end of period (000's)................ 11 2
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- -----------------------------------------
Unit value, beginning of period......... $101.77 $100.00
========= =========
Unit value, end of period............... $99.38 $101.77
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.82 $100.00
========= =========
Unit value, end of period............... $99.53 $101.82
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MERRILL LYNCH BASIC VALUE EQUITY (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQ/PUTNAM GROWTH & INCOME VALUE --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-78
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
EQ/PUTNAM GROWTH & INCOME VALUE (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $128.20 $115.17 $100.00
========= ========= ==========
Unit value, end of period............... $124.76 $128.20 $115.17
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 648 581 250
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $100.48 $100.00
========= =========
Unit value, end of period............... $97.68 $100.48
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $100.60 $100.00
========= =========
Unit value, end of period............... $98.04 $100.60
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $98.44
=========
Number of units outstanding,
end of period (000's)................ 2
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
- -----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $92.44
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/PUTNAM GROWTH & INCOME VALUE (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-79
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
EQ/PUTNAM INVESTORS GROWTH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $122.57
=========
Number of units outstanding,
end of period (000's)................ 1
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $122.56
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $122.72
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $122.77
=========
Number of units outstanding,
end of period (000's)................ --
=========
T. ROWE PRICE EQUITY INCOME --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $130.25 $100.00
========= =========
Unit value, end of period............... $133.07 $130.25
========= =========
Number of units outstanding,
end of period (000's)................ 5 1
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/PUTNAM INVESTORS GROWTH --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
T. ROWE PRICE EQUITY INCOME --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-80
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
T. ROWE PRICE EQUITY INCOME (CONTINUED)--
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.39 $100.00
========= =========
Unit value, end of period............... $103.58 $101.39
========= =========
Number of units outstanding,
end of period (000's)................ 24 3
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.56 $100.00
========= =========
Unit value, end of period............... $104.12 $101.56
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.61 $100.00
========= =========
Unit value, end of period............... $104.28 $101.61
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $130.25 $121.04 $100.00
========= ========= ==========
Unit value, end of period............... $133.07 $130.25 $121.04
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 1,072 1,070 475
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.00 $100.00
========= =========
Unit value, end of period............... $103.08 $101.00
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
T. ROWE PRICE EQUITY INCOME (CONTINUED)--
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-81
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
T. ROWE PRICE EQUITY INCOME (CONCLUDED)--
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.12 $100.00
========= =========
Unit value, end of period............... $103.45 $101.12
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.38
=========
Number of units outstanding,
end of period (000's)................ 4
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $93.54
=========
Number of units outstanding,
end of period (000's)................ 2
=========
ALLIANCE GLOBAL --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $182.50 $151.87 $138.00 $122.06 $104.12
========= ========= ========== ========= =========
Unit value, end of period............... $249.43 $182.50 $151.87 $138.00 $122.06
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 156 156 147 116 62
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $185.78 $154.12 $140.51 $124.30 $106.04
========= ========= ========== ========= =========
Unit value, end of period............... $253.89 $185.78 $154.12 $140.51 $124.30
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 353 408 464 459 391
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C>
T. ROWE PRICE EQUITY INCOME (CONCLUDED)--
EQUI-VEST SERIES 600 & 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE GLOBAL --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.12
=========
Number of units outstanding,
end of period (000's)................ 16
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $102.14 $100.00
========= ==========
Unit value, end of period............... $106.04 $102.14
========= ==========
Number of units outstanding,
end of period (000's)................ 223 8
========= ==========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-82
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE GLOBAL (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $154.96 $128.51 $116.37 $100.00
========= ========= ========== =========
Unit value, end of period............... $212.51 $154.96 $128.51 $116.37
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 3 11 12 13
========= ========= ========== =========
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $147.40 $122.12 $110.47
========= ========= ==========
Unit value, end of period............... $202.36 $147.40 $122.12
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 4 3 2
========= ========= ==========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $182.50 $151.87 $138.00 $122.06 $104.12
========= ========= ========== ========= =========
Unit value, end of period............... $249.43 $182.50 $151.87 $138.00 $122.06
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 3,509 3,395 3,369 2,995 2,121
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.37 $100.00
========= =========
Unit value, end of period............... $134.30 $ 98.37
========= =========
Number of units outstanding,
end of period (000's)................ 2 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $98.37 $100.00
========= =========
Unit value, end of period............... $134.29 $ 98.37
========= =========
Number of units outstanding,
end of period (000's)................ 20 --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE GLOBAL (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.12
=========
Number of units outstanding,
end of period (000's)................ 1,305
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-83
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE GLOBAL (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $139.76
=========
Number of units outstanding,
end of period (000's)................ 13
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $119.52
=========
Number of units outstanding,
end of period (000's)................ 9
=========
ALLIANCE INTERNATIONAL --
MOMENTUM CONTRACTS (E)
- ----------------------------------------
Unit value, beginning of period......... $117.72 $107.92 $112.82 $104.15 $100.00
========= ========= ========== ========= =========
Unit value, end of period............... $160.04 $117.72 $107.92 $112.82 $104.15
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 37 37 32 19 0
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (E)
- ----------------------------------------
Unit value, beginning of period......... $117.68 $107.89 $112.81 $104.15 $100.00
========= ========= ========== ========= =========
Unit value, end of period............... $159.96 $117.68 $107.89 $112.81 $104.15
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 84 87 85 54 3
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $118.67 $108.42 $112.96 $100.00
========= ========= ========== =========
Unit value, end of period............... $161.88 $118.67 $108.42 $112.96
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 3 4 3 21
========= ========= ========== =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE GLOBAL (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE INTERNATIONAL --
MOMENTUM CONTRACTS (E)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (E)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-84
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE INTERNATIONAL (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $114.73 $104.70 $108.98
========= ========= ==========
Unit value, end of period............... $156.65 $114.73 $104.70
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 1 1 788
========= ========= ==========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (E)
- ----------------------------------------
Unit value, beginning of period......... $117.72 $107.92 $112.83 $104.15 $100.00
========= ========= ========== ========= =========
Unit value, end of period............... $160.04 $117.72 $107.92 $112.83 $104.15
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 926 971 968 763 141
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $93.00 $100.00
========= =========
Unit value, end of period............... $126.29 $ 93.00
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $93.00 $100.00
========= =========
Unit value, end of period............... $126.30 $ 93.00
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $131.34
=========
Number of units outstanding,
end of period (000's)................ 4
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE INTERNATIONAL (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (E)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-85
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
ALLIANCE INTERNATIONAL (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $126.71
=========
Number of units outstanding,
end of period (000's)................ 1
=========
CAPITAL GUARDIAN INTERNATIONAL --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $129.55
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $129.55
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $129.71
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $129.76
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE INTERNATIONAL (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
CAPITAL GUARDIAN INTERNATIONAL --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-86
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
MORGAN STANLEY EMERGING MARKETS EQUITY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $57.18 $100.00
========= =========
Unit value, end of period............... $110.43 $ 57.18
========= =========
Number of units outstanding,
end of period (000's)................ 6 --
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $86.23 $100.00
========= =========
Unit value, end of period............... $166.52 $ 86.23
========= =========
Number of units outstanding,
end of period (000's)................ 11 1
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- -----------------------------------------
Unit value, beginning of period......... $86.38 $100.00
========= =========
Unit value, end of period............... $167.39 $ 86.38
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $86.42 $100.00
========= =========
Unit value, end of period............... $167.64 $ 86.42
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (L)
- ----------------------------------------
Unit value, beginning of period......... $57.18 $79.41 $100.00
========= ========= ==========
Unit value, end of period............... $110.43 $57.18 $ 79.41
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 590 217 109
========= ========= ==========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MORGAN STANLEY EMERGING MARKETS EQUITY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (L)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-87
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MORGAN STANLEY EMERGING MARKETS EQUITY (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $81.40 $100.00
========= =========
Unit value, end of period............... $157.03 $ 81.40
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $81.49 $100.00
========= =========
Unit value, end of period............... $157.61 $ 81.49
========= =========
Number of units outstanding,
end of period (000's)................ 5 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $198.84
=========
Number of units outstanding,
end of period (000's)................ 2
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- -----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $147.71
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQ/PUTNAM INTERNATIONAL EQUITY --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $137.09
=========
Number of units outstanding,
end of period (000's)................ 1
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MORGAN STANLEY EMERGING MARKETS EQUITY (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQ/PUTNAM INTERNATIONAL EQUITY --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-88
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
EQ/PUTNAM INTERNATIONAL EQUITY (CONCLUDED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- -------------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $137.09
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- -------------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $137.27
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- -------------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $137.32
=========
Number of units outstanding,
end of period (000's)................ --
=========
T. ROWE PRICE INTERNATIONAL STOCK--
MOMENTUM CONTRACTS (H)
- -------------------------------------------
Unit value, beginning of period......... $109.49 $100.00
========= =========
Unit value, end of period............... $142.46 $109.49
========= =========
Number of units outstanding,
end of period (000's)................ 4 1
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- -------------------------------------------
Unit value, beginning of period......... $98.95 $100.00
========= =========
Unit value, end of period............... $128.72 $ 98.95
========= =========
Number of units outstanding,
end of period (000's)................ 13 3
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/PUTNAM INTERNATIONAL EQUITY (CONCLUDED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- -------------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- -------------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- -------------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
T. ROWE PRICE INTERNATIONAL STOCK--
MOMENTUM CONTRACTS (H)
- -------------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- -------------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-89
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
T. ROWE PRICE INTERNATIONAL STOCK (CONTINUED)--
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $99.11 $100.00
========= =========
Unit value, end of period............... $129.39 $ 99.11
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $99.16 $100.00
========= =========
Unit value, end of period............... $129.59 $ 99.16
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $109.49 $ 97.61 $100.00
========= ========= ==========
Unit value, end of period............... $142.46 $109.49 $ 97.61
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 765 671 387
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- -----------------------------------------
Unit value, beginning of period......... $94.04 $100.00
========= =========
Unit value, end of period............... $122.22 $ 94.04
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $94.15 $100.00
========= =========
Unit value, end of period............... $122.67 $ 94.15
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
T. ROWE PRICE INTERNATIONAL STOCK (CONTINUED)--
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-90
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
T. ROWE PRICE INTERNATIONAL STOCK (CONCLUDED)--
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $134.15
=========
Number of units outstanding,
end of period (000's)................ 2
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $123.90
=========
Number of units outstanding,
end of period (000's)................ 3
=========
ALLIANCE AGGRESSIVE STOCK --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $89.92 $90.75 $82.91 $68.73 $52.88
========= ========= ========== ========= =========
Unit value, end of period............... $105.59 $89.92 $90.75 $82.91 $68.73
========= ========= ========== ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 20,946 25,634 28,030 27,945 25,821
========= ========= ========== ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 1,207 1,401 1,437 1,281 969
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $170.12 $171.96 $157.31 $130.50 $100.49
========= ========= ========== ========= =========
Unit value, end of period............... $199.45 $170.12 $171.96 $157.31 $130.50
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 878 1,098 1,220 1,070 718
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $136.73 $137.72 $125.54 $100.00
========= ========= ========== =========
Unit value, end of period............... $160.87 $136.73 $137.72 $125.54
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 10 37 35 109
========= ========= ========== =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
T. ROWE PRICE INTERNATIONAL STOCK (CONCLUDED)--
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE AGGRESSIVE STOCK --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $55.68 $48.30 $50.51 $27.36 $25.86
========= ========== ========= ========= =========
Unit value, end of period............... $52.88 $55.68 $48.30 $50.51 $27.36
========= ========== ========= ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 24,787 21,496 17,986 12,962 9,545
========= ========== ========= ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 620 258
========= ==========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $105.90 $100.00
========= ==========
Unit value, end of period............... $100.49 $105.90
========= ==========
Number of units outstanding,
end of period (000's)................ 350 12
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-91
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
-----------------------------------------
1999 1998 1997 1996
--------- --------- ---------- ---------
<S> <C> <C> <C> <C>
ALLIANCE AGGRESSIVE STOCK (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $118.68 $119.41 $108.74
========= ========= ==========
Unit value, end of period............... $139.76 $118.68 $119.41
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 8 8 7
========= ========= ==========
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $161.59 $163.33 $149.41 $123.95
========= ========= ========== =========
Unit value, end of period............... $189.44 $161.59 $163.33 $149.41
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 2,980 3,342 3,226 2,468
========= ========= ========== =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $90.25 $100.00
========= =========
Unit value, end of period............... $105.69 $ 90.25
========= =========
Number of units outstanding,
end of period (000's)................ 4 1
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $90.25 $100.00
========= =========
Unit value, end of period............... $105.70 $ 90.25
========= =========
Number of units outstanding,
end of period (000's)................ 17 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.50
=========
Number of units outstanding,
end of period (000's)................ 127
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE AGGRESSIVE STOCK (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 95.45
=========
Number of units outstanding,
end of period (000's)................ 664
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-92
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
ALLIANCE AGGRESSIVE STOCK (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $112.33
=========
Number of units outstanding,
end of period (000's)................ 3
=========
ALLIANCE SMALL CAP GROWTH --
MOMENTUM CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $118.57 $125.55 $100.00
========= ========= ==========
Unit value, end of period............... $149.64 $118.57 $125.55
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 36 27 6
========= ========= ==========
MOMENTUM PLUS CONTRACTS 135 B.P. (G)
- ----------------------------------------
Unit value, beginning of period......... $118.55 $125.54 $100.00
========= ========= ==========
Unit value, end of period............... $149.59 $118.55 $125.54
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 34 41 8
========= ========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $119.25 $100.00
========= =========
Unit value, end of period............... $151.02 $119.25
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $119.45 $100.00
========= =========
Unit value, end of period............... $151.42 $119.45
========= =========
Number of units outstanding,
end of period (000's)................ 1 1
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE AGGRESSIVE STOCK (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE SMALL CAP GROWTH --
MOMENTUM CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-93
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
ALLIANCE SMALL CAP GROWTH (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $118.57 $125.55 $100.00
========= ========= ==========
Unit value, end of period............... $149.64 $118.57 $125.55
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 976 1,101 488
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $86.93 $100.00
========= =========
Unit value, end of period............... $109.59 $ 86.93
========= =========
Number of units outstanding,
end of period (000's)................ 1 1
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $86.94 $100.00
========= =========
Unit value, end of period............... $109.62 $ 86.94
========= =========
Number of units outstanding,
end of period (000's)................ 2 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $110.37
=========
Number of units outstanding,
end of period (000's)................ 5
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $130.79
=========
Number of units outstanding,
end of period (000's)................ 1
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE SMALL CAP GROWTH (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-94
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
EQ/EVERGREEN --
EQ/EVERGREEN -- MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.57
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.57
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.71
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.75
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.57
=========
Number of units outstanding,
end of period (000's)................ 5
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/EVERGREEN --
EQ/EVERGREEN -- MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-95
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
EQ/EVERGREEN (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.53
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.63
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.75
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.73
=========
Number of units outstanding,
end of period (000's)................ --
=========
MFS EMERGING GROWTH COMPANIES --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $161.04 $100.00
========= =========
Unit value, end of period............... $275.93 $161.04
========= =========
Number of units outstanding,
end of period (000's)................ 33 5
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/EVERGREEN (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MFS EMERGING GROWTH COMPANIES --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-96
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
MFS EMERGING GROWTH COMPANIES (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $107.73 $100.00
========= =========
Unit value, end of period............... $184.57 $107.73
========= =========
Number of units outstanding,
end of period (000's)................ 87 7
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $107.91 $100.00
========= =========
Unit value, end of period............... $185.54 $107.91
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $107.96 $100.00
========= =========
Unit value, end of period............... $185.82 $107.96
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- -----------------------------------------
Unit value, beginning of period......... $161.04 $121.34 $100.00
========= ========= ==========
Unit value, end of period............... $275.93 $161.04 $121.34
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 2,427 1,090 256
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.41 $100.00
========= =========
Unit value, end of period............... $177.00 $103.41
========= =========
Number of units outstanding,
end of period (000's)................ 6 1
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS EMERGING GROWTH COMPANIES (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-97
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MFS EMERGING GROWTH COMPANIES (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $103.53 $100.00
========= =========
Unit value, end of period............... $177.65 $103.53
========= =========
Number of units outstanding,
end of period (000's)................ 36 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $166.37
=========
Number of units outstanding,
end of period (000's)................ 7
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $157.69
=========
Number of units outstanding,
end of period (000's)................ 17
=========
WARBURG PINCUS SMALL COMPANY VALUE --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $104.82 $100.00
========= =========
Unit value, end of period............... $105.28 $104.82
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ---------------------------------------
Unit value, beginning of period......... $83.08 $100.00
========= =========
Unit value, end of period............... $83.43 $ 83.08
========= =========
Number of units outstanding,
end of period (000's)................ 7 2
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MFS EMERGING GROWTH COMPANIES (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
WARBURG PINCUS SMALL COMPANY VALUE --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ---------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-98
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
WARBURG PINCUS SMALL COMPANY VALUE (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $83.22 $100.00
========= =========
Unit value, end of period............... $83.87 $ 83.22
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $83.26 $100.00
========= =========
Unit value, end of period............... $83.99 $ 83.26
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $104.82 $118.06 $100.00
========= ========= ==========
Unit value, end of period............... $105.28 $104.82 $118.06
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 721 859 577
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $82.78 $100.00
========= =========
Unit value, end of period............... $83.05 $ 82.78
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $82.88 $100.00
========= =========
Unit value, end of period............... $83.36 $ 82.88
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
WARBURG PINCUS SMALL COMPANY VALUE (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-99
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
WARBURG PINCUS SMALL COMPANY VALUE (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I)
- -----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $103.94
=========
Number of units outstanding,
end of period (000's)................ 3
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $106.09
=========
Number of units outstanding,
end of period (000's)................ 1
=========
ALLIANCE BALANCED --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $45.07 $38.66 $34.06 $30.92 $26.18
========= ========= ========== ========= =========
Unit value, end of period............... $52.39 $45.07 $38.66 $34.06 $30.92
========= ========= ========== ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 22,434 24,361 26,036 28,319 30,212
========= ========= ========== ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 865 986 1,052 1,057 957
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $158.63 $136.14 $120.01 $108.95 $ 92.22
========= ========= ========== ========= =========
Unit value, end of period............... $184.34 $158.63 $136.14 $120.01 $108.95
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 321 375 439 417 336
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $151.97 $129.97 $114.16 $100.00
========= ========= ========== =========
Unit value, end of period............... $177.22 $151.97 $129.97 $114.16
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 1 11 10 48
========= ========= ========== =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
WARBURG PINCUS SMALL COMPANY VALUE (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE BALANCED --
EQUI-VEST CONTRACTS (A)
- ----------------------------------------
Unit value, beginning of period......... $28.85 $26.04 $27.17 $19.40 $19.69
========= ========== ========= ========= =========
Unit value, end of period............... $26.18 $28.85 $26.04 $27.17 $19.40
========= ========== ========= ========= =========
Number of EQUI-VEST units outstanding,
end of period (000's)................ 32,664 31,259 25,975 21,100 19,423
========= ========== ========= ========= =========
Number of Momentum units outstanding,
end of period (000's)................ 776 348
========= ==========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $101.63 $100.00
========= ==========
Unit value, end of period............... $ 92.22 $101.63
========= ==========
Number of units outstanding,
end of period (000's)................ 188 9
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-100
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE BALANCED (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $143.60 $122.68 $100.00
========= ========= ==========
Unit value, end of period............... $167.63 $143.60 $122.68
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 1 1 1
========= ========= ==========
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $157.63 $135.29 $119.26 $108.26 $ 91.64
========= ========= ========== ========= =========
Unit value, end of period............... $183.18 $157.63 $135.29 $119.26 $108.26
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 854 752 655 548 386
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.39 $100.00
========= =========
Unit value, end of period............... $118.86 $102.39
=========
=========
Number of units outstanding,
end of period (000's)................ 2 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.39 $100.00
========= =========
Unit value, end of period............... $118.86 $102.39
========= =========
Number of units outstanding,
end of period (000's)................ 11 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $121.00
=========
Number of units outstanding,
end of period (000's)................ 65
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
---------------------------------------------------------------
1995 1994 1993 1992 1991 1990
--------- --------- ---------- --------- --------- ---------
<S> <C> <C>
ALLIANCE BALANCED (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 300 AND 400 CONTRACTS
135 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $ 91.64 $100.00
========= =========
Unit value, end of period............... $108.26 $ 91.64
========= =========
Number of units outstanding,
end of period (000's)................ 386 289
========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-101
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE BALANCED (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $108.71
=========
Number of units outstanding,
end of period (000's)................ 2
=========
ALLIANCE CONSERVATIVE INVESTORS --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $147.17 $130.98 $117.25 $112.97 $ 95.10
========= ========= ========== ========= =========
Unit value, end of period............... $159.92 $147.17 $130.98 $117.25 $112.97
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 22 24 22 18 11
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $144.30 $128.45 $114.99 $110.81 $ 93.29
========= ========= ========== ========= =========
Unit value, end of period............... $156.79 $144.30 $128.45 $114.99 $110.81
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 100 121 125 136 129
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $138.35 $122.71 $109.47 $100.00
========= ========= ========== =========
Unit value, end of period............... $150.86 $138.35 $122.71 $109.47
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ -- 4 5 5
========= ========= ========== =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $147.17 $130.98 $117.25 $112.97 $ 95.10
========= ========= ========== ========= =========
Unit value, end of period............... $159.92 $147.17 $130.98 $117.25 $112.97
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 752 661 553 567 491
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C>
ALLIANCE BALANCED (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE CONSERVATIVE INVESTORS --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 95.10
=========
Number of units outstanding,
end of period (000's)................ 3
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $98.60 $100.00
========= ==========
Unit value, end of period............... $93.29 $ 98.60
========= ==========
Number of units outstanding,
end of period (000's)................ 92 10
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (C)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 95.10
=========
Number of units outstanding,
end of period (000's)................ 325
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-102
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE CONSERVATIVE INVESTORS (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.74 $100.00
========= =========
Unit value, end of period............... $111.52 $102.74
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $102.74 $100.00
========= =========
Unit value, end of period............... $111.53 $102.74
========= =========
Number of units outstanding,
end of period (000's)................ 6 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- -----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $112.84
=========
Number of units outstanding,
end of period (000's)................ 3
=========
EQUI-VEST EXPRESS SERIES 700
CONTRACTS 95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $104.41
=========
Number of units outstanding,
end of period (000's)................ 4
=========
ALLIANCE GROWTH INVESTORS --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $180.63 $153.69 $133.40 $120.08 $ 96.31
========= ========= ========== ========= =========
Unit value, end of period............... $225.59 $180.63 $153.69 $133.40 $120.08
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 165 159 147 110 57
========= ========= ========== ========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C>
ALLIANCE CONSERVATIVE INVESTORS (CONCLUDED) --
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700
CONTRACTS 95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
ALLIANCE GROWTH INVESTORS --
MOMENTUM CONTRACTS (D)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 96.31
=========
Number of units outstanding,
end of period (000's)................ 10
=========
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-103
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C>
ALLIANCE GROWTH INVESTORS (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $182.69 $155.46 $134.95 $121.49 $ 97.45
========= ========= ========== ========= =========
Unit value, end of period............... $228.14 $182.69 $155.46 $134.95 $121.49
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 427 509 553 508 375
========= ========= ========== ========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period......... $159.46 $135.20 $116.95 $100.00
========= ========= ========== =========
Unit value, end of period............... $199.83 $159.46 $135.20 $116.95
========= ========= ========== =========
Number of units outstanding,
end of period (000's)................ 6 15 14 15
========= ========= ========== =========
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period......... $149.61 $126.72 $109.51
========= ========= ==========
Unit value, end of period............... $187.67 $149.61 $126.72
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 2 2 1
========= ========= ==========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (M)
- ----------------------------------------
Unit value, beginning of period......... $180.63 $153.69 $133.40 $120.08 $ 96.31
========= ========= ========== ========= =========
Unit value, end of period............... $225.59 $180.63 $153.69 $133.40 $120.08
========= ========= ========== ========= =========
Number of units outstanding,
end of period (000's)................ 4,231 3,962 3,704 3,325 2,113
========= ========= ========== ========= =========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.93 $100.00
========= =========
Unit value, end of period............... $127.16 $101.93
========= =========
Number of units outstanding,
end of period (000's)................ 2 1
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S> <C> <C>
ALLIANCE GROWTH INVESTORS (CONTINUED) --
MOMENTUM PLUS CONTRACTS 135 B.P. (B)
- ----------------------------------------
Unit value, beginning of period......... $101.99 $100.00
========= ==========
Unit value, end of period............... $ 97.45 $101.99
========= ==========
Number of units outstanding,
end of period (000's)................ 188 13
========= ==========
MOMENTUM PLUS CONTRACTS 100 B.P. (F)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P.
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (M)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $ 96.31
=========
Number of units outstanding,
end of period (000's)................ 1,023
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-104
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
ALLIANCE GROWTH INVESTORS (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.93 $100.00
========= =========
Unit value, end of period............... $127.17 $101.93
========= =========
Number of units outstanding,
end of period (000's)................ 21 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $129.93
=========
Number of units outstanding,
end of period (000's)................ 18
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $112.30
=========
Number of units outstanding,
end of period (000's)................ 10
=========
EQ/EVERGREEN FOUNDATION --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.16
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.15
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
ALLIANCE GROWTH INVESTORS (CONCLUDED) --
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQ/EVERGREEN FOUNDATION --
MOMENTUM CONTRACTS (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-105
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C>
EQ/EVERGREEN FOUNDATION (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.29
=========
Number of units outstanding,
end of period (000's)................ --
=========
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.33
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.16
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.11
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.21
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/EVERGREEN FOUNDATION (CONTINUED) --
MOMENTUM PLUS CONTRACTS 100 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS 134 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-106
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
EQ/EVERGREEN FOUNDATION (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(J)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.33
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $105.31
=========
Number of units outstanding,
end of period (000's)................ --
=========
MERRILL LYNCH WORLD STRATEGY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $109.37 $100.00
========= =========
Unit value, end of period............... $130.94 $109.37
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $96.28 $100.00
========= =========
Unit value, end of period............... $115.26 $ 96.28
========= =========
Number of units outstanding,
end of period (000's)................ 2 1
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $96.44 $100.00
========= =========
Unit value, end of period............... $115.86 $ 96.44
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/EVERGREEN FOUNDATION (CONCLUDED) --
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (J)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MERRILL LYNCH WORLD STRATEGY --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-107
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
MERRILL LYNCH WORLD STRATEGY (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $96.49 $100.00
========= =========
Unit value, end of period............... $116.04 $ 96.49
========= =========
Number of units outstand6ing,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- -----------------------------------------
Unit value, beginning of period......... $109.37 $103.77 $100.00
========= ========= ==========
Unit value, end of period............... $130.94 $109.37 $103.77
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 88 84 52
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $94.86 $100.00
========= =========
Unit value, end of period............... $113.44 $ 94.86
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $94.96 $100.00
========= =========
Unit value, end of period............... $113.85 $ 94.96
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $118.88
=========
Number of units outstanding,
end of period (000's)................ 1
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MERRILL LYNCH WORLD STRATEGY (CONTINUED) --
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstand6ing,
end of period (000's)................
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- -----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS 90 B.P.
(I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-108
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Continued)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C>
MERRILL LYNCH WORLD STRATEGY (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $113.34
=========
Number of units outstanding,
end of period (000's)................ --
=========
EQ/PUTNAM BALANCED --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period......... $125.16 $100.00
========= =========
Unit value, end of period............... $123.53 $125.16
========= =========
Number of units outstanding,
end of period (000's)................ 2 --
========= =========
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.67 $100.00
========= =========
Unit value, end of period............... $100.34 $101.67
========= =========
Number of units outstanding,
end of period (000's)................ 5 1
========= =========
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.84 $100.00
========= =========
Unit value, end of period............... $100.86 $101.84
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.89 $100.00
========= =========
Unit value, end of period............... $101.01 $101.89
========= =========
Number of units outstanding,
end of period (000's)................ -- --
========= =========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
MERRILL LYNCH WORLD STRATEGY (CONCLUDED) --
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQ/PUTNAM BALANCED --
MOMENTUM CONTRACTS (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 135 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 100 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
MOMENTUM PLUS CONTRACTS 90 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-109
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS (CONCLUDED)
DECEMBER 31, 1999
7. Accumulation Unit Values (Concluded)
<TABLE>
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1999 1998 1997 1996 1995
--------- --------- ---------- --------- ---------
<S> <C> <C> <C>
EQ/PUTNAM BALANCED (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period......... $125.16 $113.46 $100.00
========= ========= ==========
Unit value, end of period............... $123.53 $125.16 $113.46
========= ========= ==========
Number of units outstanding,
end of period (000's)................ 345 275 109
========= ========= ==========
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.05 $100.00
========= =========
Unit value, end of period............... $99.62 $101.05
========= =========
Number of units outstanding,
end of period (000's)................ 1 --
========= =========
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period......... $101.17 $100.00
========= =========
Unit value, end of period............... $99.99 $101.17
========= =========
Number of units outstanding,
end of period (000's)................ 3 --
========= =========
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $99.46
=========
Number of units outstanding,
end of period (000's)................ 1
=========
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period......... $100.00
=========
Unit value, end of period............... $95.64
=========
Number of units outstanding,
end of period (000's)................ --
=========
<CAPTION>
YEARS ENDED DECEMBER 31,
----------------------------------------------------
1994 1993 1992 1991 1990
--------- ---------- --------- --------- ---------
<S>
EQ/PUTNAM BALANCED (CONCLUDED) --
EQUI-VEST SERIES 100 THROUGH 400
CONTRACTS (G)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 500 CONTRACTS
145 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 AND 800 CONTRACTS
120 B.P. (H)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST SERIES 600 CONTRACTS
90 B.P. (I)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
EQUI-VEST EXPRESS SERIES 700 CONTRACTS
95 B.P. (K)
- ----------------------------------------
Unit value, beginning of period.........
Unit value, end of period...............
Number of units outstanding,
end of period (000's)................
</TABLE>
- ----------------------
(a) Momentum Units were made available for sale on February 15, 1993.
(b) Units were made available for sale on September 9, 1993.
(c) Units were made available for sale on January 3, 1994.
(d) Units were made available for sale on June 1, 1994.
(e) Units were made available for sale on September 1, 1994.
(f) Units were made available for sale on September 1, 1996.
(g) Units were made available for sale on May 1, 1997.
(h) Units were made available for sale on July 13, 1998.
(i) Units were made available for sale on January 30, 1999.
(j) Units were made available for sale on August 30, 1999.
(k) Units were made available for sale on October 6, 1999.
(l) Units were made available for sale on August 20, 1997.
(m) Units were made available for sale on January 1, 1994.
FSA-110
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors and Shareholder of
The Equitable Life Assurance Society of the United States
In our opinion, the accompanying consolidated balance sheets and the related
consolidated statements of earnings, of shareholder's equity and comprehensive
income and of cash flows present fairly, in all material respects, the financial
position of The Equitable Life Assurance Society of the United States and its
subsidiaries ("Equitable Life") at December 31, 1999 and 1998, and the results
of their operations and their cash flows for each of the three years in the
period ended December 31, 1999, in conformity with accounting principles
generally accepted in the United States of America. These financial statements
are the responsibility of Equitable Life's management; our responsibility is to
express an opinion on these financial statements based on our audits. We
conducted our audits of these statements in accordance with auditing standards
generally accepted in the United States of America, which require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for the opinion expressed
above.
PricewaterhouseCoopers LLP
New York, New York
February 1, 2000
F-1
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 1999 AND 1998
<TABLE>
<CAPTION>
1999 1998
------------- --------------
(IN MILLIONS)
<S> <C> <C>
ASSETS
Investments:
Fixed maturities:
Available for sale, at estimated fair value............................. $ 18,599.7 $ 18,993.7
Held to maturity, at amortized cost..................................... 133.2 125.0
Mortgage loans on real estate............................................. 3,270.0 2,809.9
Equity real estate........................................................ 1,160.2 1,676.9
Policy loans.............................................................. 2,257.3 2,086.7
Other equity investments.................................................. 671.2 713.3
Investment in and loans to affiliates..................................... 1,201.8 928.5
Other invested assets..................................................... 911.6 808.2
------------- -------------
Total investments..................................................... 28,205.0 28,142.2
Cash and cash equivalents................................................... 628.0 1,245.5
Deferred policy acquisition costs........................................... 4,033.0 3,563.8
Other assets................................................................ 3,868.3 3,054.6
Closed Block assets......................................................... 8,607.3 8,632.4
Separate Accounts assets.................................................... 54,453.9 43,302.3
------------- -------------
TOTAL ASSETS................................................................ $ 99,795.5 $ 87,940.8
============= =============
LIABILITIES
Policyholders' account balances............................................. $ 21,351.4 $ 20,857.5
Future policy benefits and other policyholders' liabilities................. 4,777.6 4,726.4
Short-term and long-term debt............................................... 1,407.9 1,181.7
Other liabilities........................................................... 3,133.6 3,474.3
Closed Block liabilities.................................................... 9,025.0 9,077.0
Separate Accounts liabilities............................................... 54,332.5 43,211.3
------------- -------------
Total liabilities..................................................... 94,028.0 82,528.2
------------- -------------
Commitments and contingencies (Notes 11, 13, 14, 15 and 16)
SHAREHOLDER'S EQUITY
Common stock, $1.25 par value 2.0 million shares authorized, issued
and outstanding........................................................... 2.5 2.5
Capital in excess of par value.............................................. 3,557.2 3,110.2
Retained earnings........................................................... 2,600.7 1,944.1
Accumulated other comprehensive (loss) income............................... (392.9) 355.8
------------- -------------
Total shareholder's equity............................................ 5,767.5 5,412.6
------------- -------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY.................................. $ 99,795.5 $ 87,940.8
============= =============
</TABLE>
See Notes to Consolidated Financial Statements.
F-2
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
CONSOLIDATED STATEMENTS OF EARNINGS
YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
<TABLE>
<CAPTION>
1999 1998 1997
------------ ------------- -------------
(IN MILLIONS)
<S> <C> <C> <C>
REVENUES
Universal life and investment-type product policy fee
income...................................................... $ 1,257.5 $ 1,056.2 $ 950.6
Premiums...................................................... 558.2 588.1 601.5
Net investment income......................................... 2,240.9 2,228.1 2,282.8
Investment (losses) gains, net................................ (96.9) 100.2 (45.2)
Commissions, fees and other income............................ 2,177.9 1,503.0 1,227.2
Contribution from the Closed Block............................ 86.4 87.1 102.5
------------ ------------- -------------
Total revenues.......................................... 6,224.0 5,562.7 5,119.4
------------ ------------- -------------
BENEFITS AND OTHER DEDUCTIONS
Interest credited to policyholders' account balances.......... 1,078.2 1,153.0 1,266.2
Policyholders' benefits....................................... 1,038.6 1,024.7 978.6
Other operating costs and expenses............................ 2,797.3 2,201.2 2,203.9
------------ ------------- -------------
Total benefits and other deductions..................... 4,914.1 4,378.9 4,448.7
------------ ------------- -------------
Earnings from continuing operations before Federal
income taxes and minority interest.......................... 1,309.9 1,183.8 670.7
Federal income taxes.......................................... 332.0 353.1 91.5
Minority interest in net income of consolidated subsidiaries.. 199.4 125.2 54.8
------------ ------------- -------------
Earnings from continuing operations........................... 778.5 705.5 524.4
Discontinued operations, net of Federal income taxes.......... 28.1 2.7 (87.2)
------------ ------------- -------------
Net Earnings.................................................. $ 806.6 $ 708.2 $ 437.2
============ ============= =============
</TABLE>
See Notes to Consolidated Financial Statements.
F-3
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
CONSOLIDATED STATEMENTS OF SHAREHOLDER'S EQUITY AND COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
<TABLE>
<CAPTION>
1999 1998 1997
------------ ------------- -------------
(IN MILLIONS)
<S> <C> <C> <C>
Common stock, at par value, beginning and end of year......... $ 2.5 $ 2.5 $ 2.5
------------ ------------- -------------
Capital in excess of par value, beginning of year............. 3,110.2 3,105.8 3,105.8
Additional capital in excess of par value..................... 447.0 4.4 -
------------ ------------- -------------
Capital in excess of par value, end of year................... 3,557.2 3,110.2 3,105.8
------------ ------------- -------------
Retained earnings, beginning of year.......................... 1,944.1 1,235.9 798.7
Net earnings.................................................. 806.6 708.2 437.2
Dividend paid to the Holding Company.......................... (150.0) - -
------------ ------------- -------------
Retained earnings, end of year................................ 2,600.7 1,944.1 1,235.9
------------ ------------- -------------
Accumulated other comprehensive income,
beginning of year........................................... 355.8 516.3 177.0
Other comprehensive (loss) income............................. (748.7) (160.5) 339.3
------------ ------------- -------------
Accumulated other comprehensive (loss) income, end of year.... (392.9) 355.8 516.3
------------ ------------- -------------
TOTAL SHAREHOLDER'S EQUITY, END OF YEAR....................... $ 5,767.5 $ 5,412.6 $ 4,860.5
============ ============= ============
COMPREHENSIVE INCOME
Net earnings.................................................. $ 806.6 $ 708.2 $ 437.2
------------ ------------- -------------
Change in unrealized (losses) gains, net of reclassification
adjustment.................................................. (776.9) (149.5) 343.7
Minimum pension liability adjustment.......................... 28.2 (11.0) (4.4)
------------ ------------- -------------
Other comprehensive (loss) income............................. (748.7) (160.5) 339.3
------------ ------------- -------------
COMPREHENSIVE INCOME.......................................... $ 57.9 $ 547.7 $ 776.5
============ ============= ============
</TABLE>
See Notes to Consolidated Financial Statements.
F-4
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
<TABLE>
<CAPTION>
1999 1998 1997
------------ ------------- -------------
(IN MILLIONS)
<S> <C> <C> <C>
Net earnings.................................................. $ 806.6 $ 708.2 $ 437.2
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Interest credited to policyholders' account balances........ 1,078.2 1,153.0 1,266.2
Universal life and investment-type product
policy fee income......................................... (1,257.5) (1,056.2) (950.6)
Investment losses (gains)................................... 96.9 (100.2) 45.2
Change in Federal income tax payable........................ 157.4 123.1 (74.4)
Change in property and equipment............................ (256.3) (81.8) (9.6)
Change in deferred acquisition costs........................ (260.7) (314.0) (220.7)
Other, net.................................................. (168.8) 70.9 399.7
------------ ------------- -------------
Net cash provided by operating activities..................... 195.8 503.0 893.0
------------ ------------- -------------
Cash flows from investing activities:
Maturities and repayments................................... 2,019.0 2,289.0 2,702.9
Sales....................................................... 7,572.9 16,972.1 10,385.9
Purchases................................................... (10,737.3) (18,578.5) (13,205.4)
(Increase) decrease in short-term investments............... (178.3) 102.4 (555.0)
Decrease in loans to discontinued operations................ - 660.0 420.1
Sale of subsidiaries........................................ - - 261.0
Other, net.................................................. (134.8) (341.8) (612.6)
------------ ------------- -------------
Net cash (used) provided by investing activities.............. (1,458.5) 1,103.2 (603.1)
------------ ------------- -------------
Cash flows from financing activities: Policyholders'
account balances:
Deposits.................................................. 2,366.2 1,508.1 1,281.7
Withdrawals............................................... (1,765.8) (1,724.6) (1,886.8)
Net increase (decrease) in short-term financings............ 378.2 (243.5) 419.9
Repayments of long-term debt................................ (41.3) (24.5) (196.4)
Payment of obligation to fund accumulated deficit of
discontinued operations................................... - (87.2) (83.9)
Dividend paid to the Holding Company........................ (150.0) - -
Other, net.................................................. (142.1) (89.5) (62.7)
------------ ------------- -------------
Net cash provided (used) by financing activities.............. 645.2 (661.2) (528.2)
------------ ------------- -------------
Change in cash and cash equivalents........................... (617.5) 945.0 (238.3)
Cash and cash equivalents, beginning of year.................. 1,245.5 300.5 538.8
------------ ------------- -------------
Cash and Cash Equivalents, End of Year........................ $ 628.0 $ 1,245.5 $ 300.5
============ ============= =============
Supplemental cash flow information
Interest Paid............................................... $ 92.2 $ 130.7 $ 217.1
============ ============= =============
Income Taxes Paid........................................... $ 116.5 $ 254.3 $ 170.0
============ ============= =============
</TABLE>
See Notes to Consolidated Financial Statements.
F-5
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1) ORGANIZATION
The Equitable Life Assurance Society of the United States ("Equitable
Life") is an indirect, wholly owned subsidiary of AXA Financial, Inc. (the
"Holding Company," and collectively with its consolidated subsidiaries,
"AXA Financial"). Equitable Life's insurance business is conducted
principally by Equitable Life and its wholly owned life insurance
subsidiaries, Equitable of Colorado ("EOC"), and, prior to December 31,
1996, Equitable Variable Life Insurance Company ("EVLICO"). Effective
January 1, 1997, EVLICO was merged into Equitable Life. Equitable Life's
investment management business, which comprises the Investment Services
segment, is conducted principally by Alliance Capital Management L.P.
("Alliance"), and Donaldson, Lufkin & Jenrette, Inc. ("DLJ"), an investment
banking and brokerage affiliate. AXA, a French holding company for an
international group of insurance and related financial services companies,
is the Holding Company's largest shareholder, owning approximately 58.0% at
December 31, 1999 (53.0% if all securities convertible into, and options
on, common stock were to be converted or exercised).
On September 20, 1999, as part of AXA Financial's "branding" strategic
initiative, EQ Financial Consultants, Inc., a broker-dealer subsidiary of
Equitable Life, was merged into a new company, AXA Advisors, LLC ("AXA
Advisors"). Also, on September 21, 1999, AXA Advisors was transferred by
Equitable Life to AXA Distribution Holding Corporation ("AXA
Distribution"), a wholly owned indirect subsidiary of the Holding Company,
for $15.3 million. The excess of the sales price over AXA Advisors' book
value has been recorded in Equitable Life's books as a capital
contribution. Equitable Life will continue to develop and market the
"Equitable" brand of life and annuity products, while AXA Distribution and
its subsidiaries begin to assume responsibility for providing financial
advisory services, product distribution and customer relationship
management.
The Insurance segment offers a variety of traditional, variable and
interest-sensitive life insurance products, disability income, annuity
products, mutual fund and other investment products to individuals and
small groups. It also administers traditional participating group annuity
contracts with conversion features, generally for corporate qualified
pension plans, and association plans which provide full service retirement
programs for individuals affiliated with professional and trade
associations. This segment includes Separate Accounts for individual
insurance and annuity products.
The Investment Services segment includes Alliance and the results of DLJ
which are accounted for on an equity basis. In 1999, Alliance reorganized
into Alliance Capital Management Holding L.P. ("Alliance Holding") and
Alliance (the "Reorganization"). Alliance Holding's principal asset is its
interest in Alliance and it functions as a holding entity through which
holders of its publicly traded units own an indirect interest in the
operating partnership. The Company exchanged substantially all of its
Alliance Holding units for units in Alliance ("Alliance Units"). As a
result of the reorganization, the Company was the beneficial owner of
approximately 2% of Alliance Holding and 56% of Alliance. Alliance provides
diversified investment fund management services to a variety of
institutional clients, including pension funds, endowments, and foreign
financial institutions, as well as to individual investors, principally
through a broad line of mutual funds. This segment includes institutional
Separate Accounts which provide various investment options for large group
pension clients, primarily deferred benefit contribution plans, through
pooled or single group accounts. At December 31, 1999, Equitable Life has a
31.7% ownership interest in DLJ. DLJ's businesses include securities
underwriting, sales and trading, merchant banking, financial advisory
services, investment research, venture capital, correspondent brokerage
services, online interactive brokerage services and asset management. DLJ
serves institutional, corporate, governmental and individual clients both
domestically and internationally. Through June 10, 1997, this segment also
includes Equitable Real Estate Investment Management Inc. ("EREIM") which
was sold. EREIM provided real estate investment management services,
property management services, mortgage servicing and loan asset management,
and agricultural investment management.
F-6
<PAGE>
2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Principles of Consolidation
-----------------------------------------------------
The accompanying consolidated financial statements are prepared in
conformity with generally accepted accounting principles ("GAAP") which
require management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
The accompanying consolidated financial statements include the accounts of
Equitable Life and certain of its subsidiaries engaged in insurance related
business (collectively, the "Insurance Group"); other subsidiaries,
principally Alliance and through June 10, 1997, EREIM (see Note 5); and
those partnerships and joint ventures in which Equitable Life or its
subsidiaries has control and a majority economic interest (collectively,
including its consolidated subsidiaries, the "Company"). The Company's
investment in DLJ is reported on the equity basis of accounting. Closed
Block assets, liabilities and results of operations are presented in the
consolidated financial statements as single line items (see Note 7). Unless
specifically stated, all other footnote disclosures contained herein
exclude the Closed Block related amounts.
All significant intercompany transactions and balances except those with
the Closed Block, DLJ and discontinued operations (see Note 8) have been
eliminated in consolidation. The years "1999," "1998" and "1997" refer to
the years ended December 31, 1999, 1998 and 1997, respectively. Certain
reclassifications have been made in the amounts presented for prior periods
to conform these periods with the 1999 presentation.
Closed Block
------------
On July 22, 1992, Equitable Life established the Closed Block for the
benefit of certain individual participating policies which were in force on
that date. The assets allocated to the Closed Block, together with
anticipated revenues from policies included in the Closed Block, were
reasonably expected to be sufficient to support such business, including
provision for payment of claims, certain expenses and taxes, and for
continuation of dividend scales payable in 1991, assuming the experience
underlying such scales continues.
Assets allocated to the Closed Block inure solely to the benefit of the
Closed Block policyholders and will not revert to the benefit of the
Holding Company. No reallocation, transfer, borrowing or lending of assets
can be made between the Closed Block and other portions of Equitable Life's
General Account, any of its Separate Accounts or any affiliate of Equitable
Life without the approval of the New York Superintendent of Insurance (the
"Superintendent"). Closed Block assets and liabilities are carried on the
same basis as similar assets and liabilities held in the General Account.
The excess of Closed Block liabilities over Closed Block assets represents
the expected future post-tax contribution from the Closed Block which would
be recognized in income over the period the policies and contracts in the
Closed Block remain in force.
Discontinued Operations
-----------------------
Discontinued operations at December 31, 1999, principally consists of the
Group Non-Participating Wind-Up Annuities ("Wind-Up Annuities"), for which
a premium deficiency reserve has been established. Management reviews the
adequacy of the allowance each quarter and believes the allowance for
future losses at December 31, 1999 is adequate to provide for all future
losses; however, the quarterly allowance review continues to involve
numerous estimates and subjective judgments regarding the expected
performance of Discontinued Operations Investment Assets. There can be no
assurance the losses provided for will not differ from the losses
ultimately realized. To the extent actual results or future projections of
the discontinued operations differ from management's current best estimates
and assumptions underlying the allowance for future losses, the difference
would be reflected in the consolidated statements of earnings in
discontinued operations. In particular, to the extent income, sales
proceeds and holding periods for equity real estate differ from
management's previous assumptions, periodic adjustments to the allowance
are likely to result (see Note 8).
F-7
<PAGE>
Accounting Changes
------------------
In March 1998, the American Institute of Certified Public Accountants
("AICPA") issued Statement of Position ("SOP") 98-1, "Accounting for the
Costs of Computer Software Developed or Obtained for Internal Use," which
requires capitalization of external and certain internal costs incurred to
obtain or develop internal-use computer software during the application
development stage. The Company applied the provisions of SOP 98-1
prospectively effective January 1, 1998. The adoption of SOP 98-1 did not
have a material impact on the Company's consolidated financial statements.
Capitalized internal-use software is amortized on a straight-line basis
over the estimated useful life of the software.
New Accounting Pronouncements
-----------------------------
In June 1998, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Accounting Standard ("SFAS") No. 133, "Accounting
for Derivative Instruments and Hedging Activities," which establishes
accounting and reporting standards for derivative instruments, including
certain derivatives embedded in other contracts, and for hedging
activities. It requires all derivatives to be recognized on the balance
sheet at fair value. The accounting for changes in the fair value of a
derivative depends on its intended use. Derivatives not used in hedging
activities must be adjusted to fair value through earnings. Changes in the
fair value of derivatives used in hedging activities will, depending on the
nature of the hedge, either be offset in earnings against the change in
fair value of the hedged item attributable to the risk being hedged or
recognized in other comprehensive income until the hedged item affects
earnings. For all hedging activities, the ineffective portion of a
derivative's change in fair value will be immediately recognized in
earnings. In June 1999, the FASB issued SFAS No. 137, "Accounting for
Derivative Instruments and Hedging Activities - Deferral of the Effective
Date of FASB Statement No. 133," which defers the effective date of SFAS
No. 133 to all fiscal quarters of all fiscal years beginning after June 15,
2000. The Company expects to adopt SFAS No. 133 effective January 1, 2001.
Adjustments resulting from initial adoption of the new requirements will be
reported in a manner similar to the cumulative effect of a change in
accounting principle and will be reflected in net income or accumulated
other comprehensive income based upon existing hedging relationships, if
any. Management currently is assessing the impact of adoption. However,
Alliance's adoption of the new requirements is not expected to have a
significant impact on the Company's consolidated balance sheet or statement
of earnings. Also, since most of DLJ's derivatives are carried at fair
values, the Company's consolidated earnings and financial position are not
expected to be significantly affected by DLJ's adoption of the new
requirements.
Valuation of Investments
------------------------
Fixed maturities identified as available for sale are reported at estimated
fair value. Fixed maturities, which the Company has both the ability and
the intent to hold to maturity, are stated principally at amortized cost.
The amortized cost of fixed maturities is adjusted for impairments in value
deemed to be other than temporary.
Valuation allowances are netted against the asset categories to which they
apply.
Mortgage loans on real estate are stated at unpaid principal balances, net
of unamortized discounts and valuation allowances. Valuation allowances are
based on the present value of expected future cash flows discounted at the
loan's original effective interest rate or the collateral value if the loan
is collateral dependent. However, if foreclosure is or becomes probable,
the measurement method used is collateral value.
Real estate, including real estate acquired in satisfaction of debt, is
stated at depreciated cost less valuation allowances. At the date of
foreclosure (including in-substance foreclosure), real estate acquired in
satisfaction of debt is valued at estimated fair value. Impaired real
estate is written down to fair value with the impairment loss being
included in investment gains (losses), net. Valuation allowances on real
estate held for sale are computed using the lower of depreciated cost or
current estimated fair value, net of disposition costs. Depreciation is
discontinued on real estate held for sale.
F-8
<PAGE>
Policy loans are stated at unpaid principal balances.
Partnerships and joint venture interests in which the Company does not have
control or a majority economic interest are reported on the equity basis of
accounting and are included either with equity real estate or other equity
investments, as appropriate.
Equity securities, comprised of common stock classified as both trading and
available for sale securities, are carried at estimated fair value and are
included in other equity investments.
Short-term investments are stated at amortized cost which approximates fair
value and are included with other invested assets.
Cash and cash equivalents includes cash on hand, amounts due from banks and
highly liquid debt instruments purchased with an original maturity of three
months or less.
All securities are recorded in the consolidated financial statements on a
trade date basis.
Net Investment Income, Investment Gains, Net and Unrealized Investment
----------------------------------------------------------------------
Gains (Losses)
--------------
Net investment income and realized investment gains (losses) (collectively,
"investment results") related to certain participating group annuity
contracts which are passed through to the contractholders are reflected as
interest credited to policyholders' account balances.
Realized investment gains (losses) are determined by specific
identification and are presented as a component of revenue. Changes in
valuation allowances are included in investment gains (losses).
Unrealized gains (losses) on publicly-traded common equity securities
classified as trading securities are reflected in net investment income.
Unrealized investment gains (losses) on fixed maturities and equity
securities available for sale held by the Company are accounted for as a
separate component of accumulated comprehensive income, net of related
deferred Federal income taxes, amounts attributable to discontinued
operations, participating group annuity contracts and deferred policy
acquisition costs ("DAC") related to universal life and investment-type
products and participating traditional life contracts.
Recognition of Insurance Income and Related Expenses
----------------------------------------------------
Premiums from universal life and investment-type contracts are reported as
deposits to policyholders' account balances. Revenues from these contracts
consist of amounts assessed during the period against policyholders'
account balances for mortality charges, policy administration charges and
surrender charges. Policy benefits and claims that are charged to expense
include benefit claims incurred in the period in excess of related
policyholders' account balances.
Premiums from participating and non-participating traditional life and
annuity policies with life contingencies generally are recognized as income
when due. Benefits and expenses are matched with such income so as to
result in the recognition of profits over the life of the contracts. This
match is accomplished by means of the provision for liabilities for future
policy benefits and the deferral and subsequent amortization of policy
acquisition costs.
For contracts with a single premium or a limited number of premium payments
due over a significantly shorter period than the total period over which
benefits are provided, premiums are recorded as income when due with any
excess profit deferred and recognized in income in a constant relationship
to insurance in force or, for annuities, the amount of expected future
benefit payments.
Premiums from individual health contracts are recognized as income over the
period to which the premiums relate in proportion to the amount of
insurance protection provided.
F-9
<PAGE>
Deferred Policy Acquisition Costs
---------------------------------
The costs of acquiring new business, principally commissions, underwriting,
agency and policy issue expenses, all of which vary with and are primarily
related to the production of new business, are deferred. DAC is subject to
recoverability testing at the time of policy issue and loss recognition
testing at the end of each accounting period.
For universal life products and investment-type products, DAC is amortized
over the expected total life of the contract group (periods ranging from 25
to 35 years and 5 to 17 years, respectively) as a constant percentage of
estimated gross profits arising principally from investment results,
mortality and expense margins and surrender charges based on historical and
anticipated future experience, updated at the end of each accounting
period. The effect on the amortization of DAC of revisions to estimated
gross profits is reflected in earnings in the period such estimated gross
profits are revised. The effect on the DAC asset that would result from
realization of unrealized gains (losses) is recognized with an offset to
accumulated other comprehensive income in consolidated shareholder's equity
as of the balance sheet date.
As part of its asset/liability management process, in second quarter 1999,
management initiated a review of the matching of invested assets to
Insurance product lines given their different liability characteristics and
liquidity requirements. As a result of this review, management reallocated
the current and prospective interests of the various product lines in the
invested assets. These asset reallocations and the related changes in
investment yields by product line, in turn, triggered a review of and
revisions to the estimated future gross profits used to determine the
amortization of DAC for universal life and investment-type products. The
revisions to estimated future gross profits resulted in an after-tax
writedown of DAC of $85.6 million (net of a Federal income tax benefit of
$46.1 million).
For participating traditional life policies (substantially all of which are
in the Closed Block), DAC is amortized over the expected total life of the
contract group (40 years) as a constant percentage based on the present
value of the estimated gross margin amounts expected to be realized over
the life of the contracts using the expected investment yield. At December
31, 1999, the expected investment yield, excluding policy loans, generally
ranged from 7.75% grading to 7.5% over a 20 year period. Estimated gross
margin includes anticipated premiums and investment results less claims and
administrative expenses, changes in the net level premium reserve and
expected annual policyholder dividends. The effect on the amortization of
DAC of revisions to estimated gross margins is reflected in earnings in the
period such estimated gross margins are revised. The effect on the DAC
asset that would result from realization of unrealized gains (losses) is
recognized with an offset to accumulated comprehensive income in
consolidated shareholder's equity as of the balance sheet date.
For non-participating traditional life DAC is amortized in proportion to
anticipated premiums. Assumptions as to anticipated premiums are estimated
at the date of policy issue and are consistently applied during the life of
the contracts. Deviations from estimated experience are reflected in
earnings in the period such deviations occur. For these contracts, the
amortization periods generally are for the total life of the policy.
Policyholders' Account Balances and Future Policy Benefits
----------------------------------------------------------
Policyholders' account balances for universal life and investment-type
contracts are equal to the policy account values. The policy account values
represents an accumulation of gross premium payments plus credited interest
less expense and mortality charges and withdrawals.
For participating traditional life policies, future policy benefit
liabilities are calculated using a net level premium method on the basis of
actuarial assumptions equal to guaranteed mortality and dividend fund
interest rates. The liability for annual dividends represents the accrual
of annual dividends earned. Terminal dividends are accrued in proportion to
gross margins over the life of the contract.
For non-participating traditional life insurance policies, future policy
benefit liabilities are estimated using a net level premium method on the
basis of actuarial assumptions as to mortality, persistency and interest
established at policy issue. Assumptions established at policy issue as to
mortality and persistency are based on the Insurance Group's experience
which, together with interest and expense assumptions, includes a margin
for adverse deviation. When the liabilities for future policy benefits plus
the present value of expected future gross premiums for a product are
insufficient to provide for expected future policy benefits
F-10
<PAGE>
and expenses for that product, DAC is written off and thereafter, if
required, a premium deficiency reserve is established by a charge to
earnings. Benefit liabilities for traditional annuities during the
accumulation period are equal to accumulated contractholders' fund balances
and after annuitization are equal to the present value of expected future
payments. Interest rates used in establishing such liabilities range from
2.25% to 11.5% for life insurance liabilities and from 2.25% to 8.35% for
annuity liabilities.
Individual health benefit liabilities for active lives are estimated using
the net level premium method and assumptions as to future morbidity,
withdrawals and interest. Benefit liabilities for disabled lives are
estimated using the present value of benefits method and experience
assumptions as to claim terminations, expenses and interest. While
management believes its disability income ("DI") reserves have been
calculated on a reasonable basis and are adequate, there can be no
assurance reserves will be sufficient to provide for future liabilities.
Claim reserves and associated liabilities for individual DI and major
medical policies were $948.4 million and $951.7 million at December 31,
1999 and 1998, respectively. Incurred benefits (benefits paid plus changes
in claim reserves) and benefits paid for individual DI and major medical
are summarized as follows:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Incurred benefits related to current year.......... $ 150.7 $ 140.1 $ 132.3
Incurred benefits related to prior years........... 64.7 84.2 60.0
------------- ------------ ------------
Total Incurred Benefits............................ $ 215.4 $ 224.3 $ 192.3
============= ============ ============
Benefits paid related to current year.............. $ 28.9 $ 17.0 $ 28.8
Benefits paid related to prior years............... 189.8 155.4 146.2
------------- ------------ ------------
Total Benefits Paid................................ $ 218.7 $ 172.4 $ 175.0
============= ============ ============
</TABLE>
Policyholders' Dividends
------------------------
The amount of policyholders' dividends to be paid (including those on
policies included in the Closed Block) is determined annually by Equitable
Life's board of directors. The aggregate amount of policyholders' dividends
is related to actual interest, mortality, morbidity and expense experience
for the year and judgment as to the appropriate level of statutory surplus
to be retained by Equitable Life.
At December 31, 1999, participating policies, including those in the Closed
Block, represent approximately 23.0% ($47.0 billion) of directly written
life insurance in force, net of amounts ceded.
Federal Income Taxes
--------------------
The Company files a consolidated Federal income tax return with the Holding
Company and its consolidated subsidiaries. Current Federal income taxes are
charged or credited to operations based upon amounts estimated to be
payable or recoverable as a result of taxable operations for the current
year. Deferred income tax assets and liabilities are recognized based on
the difference between financial statement carrying amounts and income tax
bases of assets and liabilities using enacted income tax rates and laws.
Separate Accounts
-----------------
Separate Accounts are established in conformity with the New York State
Insurance Law and generally are not chargeable with liabilities that arise
from any other business of the Insurance Group. Separate Accounts assets
are subject to General Account claims only to the extent the value of such
assets exceeds Separate Accounts liabilities.
F-11
<PAGE>
Assets and liabilities of the Separate Accounts, representing net deposits
and accumulated net investment earnings less fees, held primarily for the
benefit of contractholders, and for which the Insurance Group does not bear
the investment risk, are shown as separate captions in the consolidated
balance sheets. The Insurance Group bears the investment risk on assets
held in one Separate Account; therefore, such assets are carried on the
same basis as similar assets held in the General Account portfolio. Assets
held in the other Separate Accounts are carried at quoted market values or,
where quoted values are not available, at estimated fair values as
determined by the Insurance Group.
The investment results of Separate Accounts on which the Insurance Group
does not bear the investment risk are reflected directly in Separate
Accounts liabilities. For 1999, 1998 and 1997, investment results of such
Separate Accounts were $6,045.5 million, $4,591.0 million and $3,411.1
million, respectively.
Deposits to Separate Accounts are reported as increases in Separate
Accounts liabilities and are not reported in revenues. Mortality, policy
administration and surrender charges on all Separate Accounts are included
in revenues.
Employee Stock Option Plan
--------------------------
The Company accounts for stock option plans sponsored by the Holding
Company, DLJ and Alliance in accordance with the provisions of Accounting
Principles Board Opinion ("APB") No. 25, "Accounting for Stock Issued to
Employees," and related interpretations. In accordance with the opinion,
compensation expense is recorded on the date of grant only if the current
market price of the underlying stock exceeds the option strike price at the
grant date. See Note 22 for the pro forma disclosures for the Holding
Company, DLJ and Alliance required by SFAS No. 123, "Accounting for
Stock-Based Compensation".
F-12
<PAGE>
3) INVESTMENTS
The following tables provide additional information relating to fixed
maturities and equity securities:
<TABLE>
<CAPTION>
GROSS GROSS
AMORTIZED UNREALIZED UNREALIZED ESTIMATED
COST GAINS LOSSES FAIR VALUE
------------- ------------- ------------ -------------
(IN MILLIONS)
<S> <C> <C> <C> <C>
DECEMBER 31, 1999
-----------------
Fixed Maturities:
Available for Sale:
Corporate.......................... $ 14,866.8 $ 139.5 $ 787.0 $ 14,219.3
Mortgage-backed.................... 2,554.5 2.3 87.8 2,469.0
U.S. Treasury, government and
agency securities................ 1,194.1 18.9 23.4 1,189.6
States and political subdivisions.. 110.0 1.4 4.9 106.5
Foreign governments................ 361.8 16.2 14.8 363.2
Redeemable preferred stock......... 286.4 1.7 36.0 252.1
------------- ------------- ------------ -------------
Total Available for Sale............... $ 19,373.6 $ 180.0 $ 953.9 $ 18,599.7
============= ============= ============ =============
Held to Maturity: Corporate......... $ 133.2 $ - $ - $ 133.2
============= ============= ============ =============
Equity Securities:
Common stock available for sale...... 25.5 1.5 17.8 9.2
Common stock trading securities...... 7.2 9.1 2.2 14.1
------------- ------------- ------------ -------------
Total Equity Securities................ $ 32.7 $ 10.6 $ 20.0 $ 23.3
============= ============= ============ =============
December 31, 1998
-----------------
Fixed Maturities:
Available for Sale:
Corporate.......................... $ 14,520.8 $ 793.6 $ 379.6 $ 14,934.8
Mortgage-backed.................... 1,807.9 23.3 .9 1,830.3
U.S. Treasury, government and
agency securities................ 1,464.1 107.6 .7 1,571.0
States and political subdivisions.. 55.0 9.9 - 64.9
Foreign governments................ 363.3 20.9 30.0 354.2
Redeemable preferred stock......... 242.7 7.0 11.2 238.5
------------- ------------- ------------ -------------
Total Available for Sale............... $ 18,453.8 $ 962.3 $ 422.4 $ 18,993.7
============= ============= ============ =============
Held to Maturity: Corporate......... $ 125.0 $ - $ - $ 125.0
============= ============= ============ =============
Equity Securities:
Common stock available for sale...... $ 58.3 $ 114.9 $ 22.5 $ 150.7
============= ============= ============ =============
</TABLE>
For publicly traded fixed maturities and equity securities, estimated fair
value is determined using quoted market prices. For fixed maturities
without a readily ascertainable market value, the Company determines an
estimated fair value using a discounted cash flow approach, including
provisions for credit risk, generally based on the assumption such
securities will be held to maturity. Estimated fair values for equity
securities, substantially all of which do not have a readily ascertainable
market value, have been determined by the Company. Such estimated fair
values do not necessarily represent the values for which these securities
could have been sold at the dates of the consolidated balance sheets. At
December 31, 1999 and 1998, securities without a readily ascertainable
market value having an amortized cost of $3,322.2 million and $3,539.9
million, respectively, had estimated fair values of $3,177.7 million and
$3,748.5 million, respectively.
F-13
<PAGE>
The contractual maturity of bonds at December 31, 1999 is shown below:
<TABLE>
<CAPTION>
AVAILABLE FOR SALE
-------------------------------
AMORTIZED ESTIMATED
COST FAIR VALUE
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Due in one year or less................................................ $ 479.1 $ 477.8
Due in years two through five.......................................... 2,991.8 2,921.2
Due in years six through ten........................................... 7,197.9 6,813.0
Due after ten years.................................................... 5,864.0 5,666.5
Mortgage-backed securities............................................. 2,554.4 2,469.1
------------ ------------
Total.................................................................. $ 19,087.2 $ 18,347.6
============ ============
</TABLE>
Corporate bonds held to maturity with an amortized cost and estimated fair
value of $133.2 million are due in one year or less.
Bonds not due at a single maturity date have been included in the above
table in the year of final maturity. Actual maturities will differ from
contractual maturities because borrowers may have the right to call or
prepay obligations with or without call or prepayment penalties.
The Insurance Group's fixed maturity investment portfolio includes
corporate high yield securities consisting of public high yield bonds,
redeemable preferred stocks and directly negotiated debt in leveraged
buyout transactions. The Insurance Group seeks to minimize the higher than
normal credit risks associated with such securities by monitoring
concentrations in any single issuer or a particular industry group. Certain
of these corporate high yield securities are classified as other than
investment grade by the various rating agencies, i.e., a rating below Baa
or National Association of Insurance Commissioners ("NAIC") designation of
3 (medium grade), 4 or 5 (below investment grade) or 6 (in or near
default). At December 31, 1999, approximately 14.9% of the $18,344.3
million aggregate amortized cost of bonds held by the Company was
considered to be other than investment grade.
In addition, the Insurance Group is an equity investor in limited
partnership interests which primarily invest in securities considered to be
other than investment grade. The carrying values at December 31, 1999 and
1998 were $647.9 million and $562.6 million, respectively.
Investment valuation allowances and changes thereto are shown below:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Balances, beginning of year........................ $ 230.6 $ 384.5 $ 137.1
Additions charged to income........................ 68.2 86.2 334.6
Deductions for writedowns and
asset dispositions............................... (150.2) (240.1) (87.2)
------------- ------------ ------------
Balances, End of Year.............................. $ 148.6 $ 230.6 $ 384.5
============= ============ ============
Balances, end of year comprise:
Mortgage loans on real estate.................... $ 27.5 $ 34.3 $ 55.8
Equity real estate............................... 121.1 196.3 328.7
------------- ------------ ------------
Total.............................................. $ 148.6 $ 230.6 $ 384.5
============= ============ ============
</TABLE>
F-14
<PAGE>
At December 31, 1999, the carrying value of fixed maturities which are
non-income producing for the twelve months preceding the consolidated
balance sheet date was $152.1 million.
The payment terms of mortgage loans on real estate may from time to time be
restructured or modified. The investment in restructured mortgage loans on
real estate, based on amortized cost, amounted to $106.0 million and $115.1
million at December 31, 1999 and 1998, respectively. Gross interest income
on restructured mortgage loans on real estate that would have been recorded
in accordance with the original terms of such loans amounted to $9.5
million, $10.3 million and $17.2 million in 1999, 1998 and 1997,
respectively. Gross interest income on these loans included in net
investment income aggregated $8.2 million, $8.3 million and $12.7 million
in 1999, 1998 and 1997, respectively.
Impaired mortgage loans along with the related provision for losses were as
follows:
<TABLE>
<CAPTION>
DECEMBER 31,
-----------------------------------
1999 1998
-------------- --------------
(IN MILLIONS)
<S> <C> <C>
Impaired mortgage loans with provision for losses.................. $ 142.4 $ 125.4
Impaired mortgage loans without provision for losses............... 2.2 8.6
-------------- --------------
Recorded investment in impaired mortgage loans..................... 144.6 134.0
Provision for losses............................................... (23.0) (29.0)
-------------- --------------
Net Impaired Mortgage Loans........................................ $ 121.6 $ 105.0
============== ==============
</TABLE>
Impaired mortgage loans without provision for losses are loans where the
fair value of the collateral or the net present value of the expected
future cash flows related to the loan equals or exceeds the recorded
investment. Interest income earned on loans where the collateral value is
used to measure impairment is recorded on a cash basis. Interest income on
loans where the present value method is used to measure impairment is
accrued on the net carrying value amount of the loan at the interest rate
used to discount the cash flows. Changes in the present value attributable
to changes in the amount or timing of expected cash flows are reported as
investment gains or losses.
During 1999, 1998 and 1997, respectively, the Company's average recorded
investment in impaired mortgage loans was $141.7 million, $161.3 million
and $246.9 million. Interest income recognized on these impaired mortgage
loans totaled $12.0 million, $12.3 million and $15.2 million ($0.0 million,
$.9 million and $2.3 million recognized on a cash basis) for 1999, 1998 and
1997, respectively.
The Insurance Group's investment in equity real estate is through direct
ownership and through investments in real estate joint ventures. At
December 31, 1999 and 1998, the carrying value of equity real estate held
for sale amounted to $382.2 million and $836.2 million, respectively. For
1999, 1998 and 1997, respectively, real estate of $20.5 million, $7.1
million and $152.0 million was acquired in satisfaction of debt. At
December 31, 1999 and 1998, the Company owned $443.9 million and $552.3
million, respectively, of real estate acquired in satisfaction of debt.
Depreciation of real estate held for production of income is computed using
the straight-line method over the estimated useful lives of the properties,
which generally range from 40 to 50 years. Accumulated depreciation on real
estate was $251.6 million and $374.8 million at December 31, 1999 and 1998,
respectively. Depreciation expense on real estate totaled $21.8 million,
$30.5 million and $74.9 million for 1999, 1998 and 1997, respectively.
F-15
<PAGE>
4) JOINT VENTURES AND PARTNERSHIPS
Summarized combined financial information for real estate joint ventures
(25 individual ventures at both December 31, 1999 and 1998) and for limited
partnership interests accounted for under the equity method, in which the
Company has an investment of $10.0 million or greater and an equity
interest of 10% or greater, follows:
<TABLE>
<CAPTION>
DECEMBER 31,
--------------------------------
1999 1998
------------- -------------
(IN MILLIONS)
<S> <C> <C>
BALANCE SHEETS
Investments in real estate, at depreciated cost........................ $ 861.1 $ 913.7
Investments in securities, generally at estimated fair value........... 678.4 636.9
Cash and cash equivalents.............................................. 68.4 85.9
Other assets........................................................... 239.3 279.8
------------- -------------
Total Assets........................................................... $ 1,847.2 $ 1,916.3
============= =============
Borrowed funds - third party........................................... $ 354.2 $ 367.1
Borrowed funds - AXA Financial......................................... 28.9 30.1
Other liabilities...................................................... 313.9 197.2
------------- -------------
Total liabilities...................................................... 697.0 594.4
------------- -------------
Partners' capital...................................................... 1,150.2 1,321.9
------------- -------------
Total Liabilities and Partners' Capital................................ $ 1,847.2 $ 1,916.3
============= =============
Equity in partners' capital included above............................. $ 316.5 $ 365.6
Equity in limited partnership interests not included above and other... 524.1 390.1
------------- -------------
Carrying Value......................................................... $ 840.6 $ 755.7
============= =============
</TABLE>
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
STATEMENTS OF EARNINGS
Revenues of real estate joint ventures............. $ 180.5 $ 246.1 $ 310.5
Revenues of other limited partnership interests.... 455.1 128.9 506.3
Interest expense - third party..................... (39.8) (33.3) (91.8)
Interest expense - AXA Financial................... (2.5) (2.6) (7.2)
Other expenses..................................... (139.0) (197.0) (263.6)
------------- ------------ ------------
Net Earnings....................................... $ 454.3 $ 142.1 $ 454.2
============= ============ ============
Equity in net earnings included above.............. $ 10.5 $ 44.4 $ 76.7
Equity in net earnings of limited partnership
interests not included above..................... 76.0 37.9 69.5
Other.............................................. - - (.9)
------------- ------------ ------------
Total Equity in Net Earnings....................... $ 86.5 $ 82.3 $ 145.3
============= ============ ============
</TABLE>
F-16
<PAGE>
5) NET INVESTMENT INCOME AND INVESTMENT GAINS (LOSSES)
The sources of net investment income follows:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Fixed maturities................................... $ 1,499.8 $ 1,489.0 $ 1,459.4
Mortgage loans on real estate...................... 253.4 235.4 260.8
Equity real estate................................. 250.2 356.1 390.4
Other equity investments........................... 165.1 83.8 156.9
Policy loans....................................... 143.8 144.9 177.0
Other investment income............................ 161.3 185.7 181.7
------------- ------------ ------------
Gross investment income.......................... 2,473.6 2,494.9 2,626.2
Investment expenses.............................. (232.7) (266.8) (343.4)
------------- ------------ ------------
Net Investment Income.............................. $ 2,240.9 $ 2,228.1 $ 2,282.8
============= ============ ============
</TABLE>
Investment (losses) gains, net, including changes in the valuation
allowances, follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Fixed maturities................................... $ (290.9) $ (24.3) $ 88.1
Mortgage loans on real estate...................... (3.3) (10.9) (11.2)
Equity real estate................................. (2.4) 74.5 (391.3)
Other equity investments........................... 88.1 29.9 14.1
Sale of subsidiaries............................... - (2.6) 252.1
Issuance and sales of Alliance Units............... 5.5 19.8 -
Issuance and sales of DLJ common stock............. 106.0 18.2 3.0
Other.............................................. .1 (4.4) -
------------- ------------ ------------
Investment (Losses) Gains, Net..................... $ (96.9) $ 100.2 $ (45.2)
============= ============ ============
</TABLE>
Writedowns of fixed maturities amounted to $223.2 million, $101.6 million
and $11.7 million for 1999, 1998 and 1997, respectively, and writedowns of
equity real estate amounted to $136.4 million for 1997. In fourth quarter
1997, the Company reclassified $1,095.4 million depreciated cost of equity
real estate from real estate held for the production of income to real
estate held for sale. Additions to valuation allowances of $227.6 million
were recorded upon these transfers. Additionally, in fourth quarter 1997,
$132.3 million of writedowns on real estate held for production of income
were recorded.
For 1999, 1998 and 1997, respectively, proceeds received on sales of fixed
maturities classified as available for sale amounted to $7,138.6 million,
$15,961.0 million and $9,789.7 million. Gross gains of $74.7 million,
$149.3 million and $166.0 million and gross losses of $214.3 million, $95.1
million and $108.8 million, respectively, were realized on these sales. The
change in unrealized investment (losses) gains related to fixed maturities
classified as available for sale for 1999, 1998 and 1997 amounted to
$(1,313.8) million, $(331.7) million and $513.4 million, respectively.
On January 1, 1999, investments in publicly-traded common equity securities
in the General Account portfolio within other equity investments amounting
to $102.3 million were transferred from available for sale securities to
trading securities. As a result of this transfer, unrealized investment
gains of $83.3 million ($43.2 million net of related DAC and Federal income
taxes) were recognized as realized investment gains in the consolidated
statements of earnings. Net unrealized holding gains of $7.0 million were
included in net investment income in the consolidated statements of
earnings for 1999. These trading securities had a carrying value of $14.1
million and costs of $7.2 million at December 31, 1999.
F-17
<PAGE>
During 1999, DLJ completed its offering of a new class of its Common Stock
to track the financial performance of DLJdirect, its online brokerage
business. As a result of this offering, the Company recorded a non-cash
pre-tax realized gain of $95.8 million.
For 1999, 1998 and 1997, investment results passed through to certain
participating group annuity contracts as interest credited to
policyholders' account balances amounted to $131.5 million, $136.9 million
and $137.5 million, respectively.
In 1997, Equitable Life sold EREIM (other than its interest in Column
Financial, Inc.) ("ERE") to Lend Lease Corporation Limited ("Lend Lease"),
for $400.0 million and recognized an investment gain of $162.4 million, net
of Federal income tax of $87.4 million. Equitable Life entered into
long-term advisory agreements whereby ERE continues to provide
substantially the same services to Equitable Life's General Account and
Separate Accounts, for substantially the same fees, as provided prior to
the sale. Through June 10, 1997, the businesses sold reported combined
revenues of $91.6 million and combined net earnings of $10.7 million.
On June 30, 1997, Alliance reduced the recorded value of goodwill and
contracts associated with Alliance's 1996 acquisition of Cursitor Holdings
L.P. and Cursitor Holdings Limited (collectively, "Cursitor") by $120.9
million since Cursitor's business fundamentals no longer supported the
carrying value of its investment. The Company's earnings from continuing
operations for 1997 included a charge of $59.5 million, net of a Federal
income tax benefit of $10.0 million and minority interest of $51.4 million.
The remaining balance of intangible assets is being amortized over its
estimated useful life of 20 years.
Net unrealized investment gains (losses), included in the consolidated
balance sheets as a component of accumulated comprehensive income and the
changes for the corresponding years, follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Balance, beginning of year......................... $ 384.1 $ 533.6 $ 189.9
Changes in unrealized investment (losses) gains.... (1,486.6) (242.4) 543.3
Changes in unrealized investment losses
(gains) attributable to:
Participating group annuity contracts.......... 24.7 (5.7) 53.2
DAC............................................ 208.6 13.2 (89.0)
Deferred Federal income taxes.................. 476.4 85.4 (163.8)
------------- ------------ ------------
Balance, End of Year............................... $ (392.8) $ 384.1 $ 533.6
============= ============ ============
Balance, end of year comprises:
Unrealized investment (losses) gains on:
Fixed maturities............................... $ (773.9) $ 539.9 $ 871.2
Other equity investments....................... (16.3) 92.4 33.7
Other, principally Closed Block................ 46.8 111.1 80.9
------------- ------------ ------------
Total........................................ (743.4) 743.4 985.8
Amounts of unrealized investment gains
attributable to:
Participating group annuity contracts........ - (24.7) (19.0)
DAC.......................................... 80.8 (127.8) (141.0)
Deferred Federal income taxes................ 269.8 (206.8) (292.2)
------------- ------------ ------------
Total.............................................. $ (392.8) $ 384.1 $ 533.6
============= ============ ============
</TABLE>
Changes in unrealized gains (losses) reflect changes in fair value of only
those fixed maturities and equity securities classified as available for
sale and do not reflect any changes in fair value of policyholders' account
balances and future policy benefits.
F-18
<PAGE>
6) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Accumulated other comprehensive income (loss) represents cumulative gains
and losses on items that are not reflected in earnings. The balances for
the past three years follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Unrealized (losses) gains on investments........... $ (392.8) $ 384.1 $ 533.6
Minimum pension liability.......................... (.1) (28.3) (17.3)
------------- ------------ ------------
Total Accumulated Other
Comprehensive (Loss) Income...................... $ (392.9) $ 355.8 $ 516.3
============= ============ ============
</TABLE>
The components of other comprehensive income (loss) for the past three
years follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Net unrealized (losses) gains on investment
securities:
Net unrealized (losses) gains arising during
the period..................................... $ (1,682.3) $ (186.1) $ 564.0
Adjustment to reclassify losses (gains)
included in net earnings during the period..... 195.7 (56.3) (20.7)
------------- ------------ ------------
Net unrealized (losses) gains on investment
securities..................................... (1,486.6) (242.4) 543.3
Adjustments for policyholder liabilities,
DAC and deferred Federal income taxes.......... 709.7 92.9 (199.6)
------------- ------------ ------------
Change in unrealized losses (gains), net of
adjustments.................................... (776.9) (149.5) 343.7
Change in minimum pension liability................ 28.2 (11.0) (4.4)
------------- ------------ ------------
Total Other Comprehensive (Loss) Income............ $ (748.7) $ (160.5) $ 339.3
============= ============ ============
</TABLE>
F-19
<PAGE>
7) CLOSED BLOCK
Summarized financial information for the Closed Block follows:
<TABLE>
<CAPTION>
DECEMBER 31,
---------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C
BALANCE SHEETS
Fixed Maturities:
Available for sale, at estimated fair value (amortized cost,
$4,144.8 and $4,149.0)........................................... $ 4,014.0 $ 4,373.2
Mortgage loans on real estate........................................ 1,704.2 1,633.4
Policy loans......................................................... 1,593.9 1,641.2
Cash and other invested assets....................................... 194.4 86.5
DAC.................................................................. 895.5 676.5
Other assets......................................................... 205.3 221.6
------------ ------------
Total Assets......................................................... $ 8,607.3 $ 8,632.4
============ ============
Future policy benefits and policyholders' account balances........... $ 9,011.7 $ 9,013.1
Other liabilities.................................................... 13.3 63.9
------------ ------------
Total Liabilities.................................................... $ 9,025.0 $ 9,077.0
============ ============
</TABLE>
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
STATEMENTS OF EARNINGS
Premiums and other revenue......................... $ 619.1 $ 661.7 $ 687.1
Investment income (net of investment
expenses of $15.8, $15.5 and $27.0).............. 574.2 569.7 574.9
Investment (losses) gains, net..................... (11.3) .5 (42.4)
------------- ------------ ------------
Total revenues............................... 1,182.0 1,231.9 1,219.6
------------- ------------ ------------
Policyholders' benefits and dividends.............. 1,024.7 1,082.0 1,066.7
Other operating costs and expenses................. 70.9 62.8 50.4
------------- ------------ ------------
Total benefits and other deductions.......... 1,095.6 1,144.8 1,117.1
------------- ------------ ------------
Contribution from the Closed Block................. $ 86.4 $ 87.1 $ 102.5
============= ============ ============
</TABLE>
Impaired mortgage loans along with the related provision for losses
follows:
<TABLE>
<CAPTION>
DECEMBER 31,
--------------------------------
1999 1998
------------- -------------
(IN MILLIONS)
<S> <C> <C>
Impaired mortgage loans with provision for losses...................... $ 26.8 $ 55.5
Impaired mortgage loans without provision for losses................... 4.5 7.6
------------- -------------
Recorded investment in impaired mortgages.............................. 31.3 63.1
Provision for losses................................................... (4.1) (10.1)
------------- -------------
Net Impaired Mortgage Loans............................................ $ 27.2 $ 53.0
============= =============
</TABLE>
During 1999, 1998 and 1997, the Closed Block's average recorded investment
in impaired mortgage loans was $37.0 million, $85.5 million and $110.2
million, respectively. Interest income recognized on these impaired
mortgage loans totaled $3.3 million, $4.7 million and $9.4 million ($.3
million, $1.5 million and $4.1 million recognized on a cash basis) for
1999, 1998 and 1997, respectively.
F-20
<PAGE>
Valuation allowances amounted to $4.6 million and $11.1 million on mortgage
loans on real estate and $24.7 million and $15.4 million on equity real
estate at December 31, 1999 and 1998, respectively. Writedowns of fixed
maturities amounted to $3.5 million for 1997. Writedowns of equity real
estate amounted to $28.8 million for 1997.
In fourth quarter 1997, $72.9 million depreciated cost of equity real
estate held for production of income was reclassified to equity real estate
held for sale. Additions to valuation allowances of $15.4 million were
recorded upon these transfers. Also in fourth quarter 1997, $28.8 million
of writedowns on real estate held for production of income were recorded.
Many expenses related to Closed Block operations are charged to operations
outside of the Closed Block; accordingly, the contribution from the Closed
Block does not represent the actual profitability of the Closed Block
operations. Operating costs and expenses outside of the Closed Block are,
therefore, disproportionate to the business outside of the Closed Block.
F-21
<PAGE>
8) DISCONTINUED OPERATIONS
Summarized financial information for discontinued operations follows:
<TABLE>
<CAPTION>
DECEMBER 31,
---------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
BALANCE SHEETS
Mortgage loans on real estate........................................ $ 454.6 $ 553.9
Equity real estate................................................... 426.6 611.0
Other equity investments............................................. 55.8 115.1
Other invested assets................................................ 87.1 24.9
------------ ------------
Total investments.................................................. 1,024.1 1,304.9
Cash and cash equivalents............................................ 164.5 34.7
Other assets......................................................... 213.0 219.0
------------ ------------
Total Assets......................................................... $ 1,401.6 $ 1,558.6
============ ============
Policyholders' liabilities........................................... $ 993.3 $ 1,021.7
Allowance for future losses.......................................... 242.2 305.1
Other liabilities.................................................... 166.1 231.8
------------ ------------
Total Liabilities.................................................... $ 1,401.6 $ 1,558.6
============ ============
</TABLE>
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
STATEMENTS OF EARNINGS
Investment income (net of investment
expenses of $49.3, $63.3 and $97.3).............. $ 98.7 $ 160.4 $ 188.6
Investment (losses) gains, net..................... (13.4) 35.7 (173.7)
Policy fees, premiums and other income............. .2 (4.3) .2
------------- ------------ ------------
Total revenues..................................... 85.5 191.8 15.1
Benefits and other deductions...................... 104.8 141.5 169.5
(Losses charged) earnings credited to allowance
for future losses................................ (19.3) 50.3 (154.4)
------------- ------------ ------------
Pre-tax loss from operations....................... - - -
Pre-tax earnings from releasing (loss from
strengthening) the allowance for future
losses........................................... 43.3 4.2 (134.1)
Federal income tax (expense) benefit............... (15.2) (1.5) 46.9
------------- ------------ ------------
Earnings (Loss) from Discontinued Operations....... $ 28.1 $ 2.7 $ (87.2)
============= ============ ============
</TABLE>
The Company's quarterly process for evaluating the allowance for future
losses applies the current period's results of the discontinued operations
against the allowance, re-estimates future losses and adjusts the
allowance, if appropriate. Additionally, as part of the Company's annual
planning process which takes place in the fourth quarter of each year,
investment and benefit cash flow projections are prepared. These updated
assumptions and estimates resulted in a release of allowance in 1999 and
1998 and strengthening of allowance in 1997.
In fourth quarter 1997, $329.9 million depreciated cost of equity real
estate was reclassified from equity real estate held for production of
income to real estate held for sale. Additions to valuation allowances of
$79.8 million were recognized upon these transfers. Also in fourth quarter
1997, $92.5 million of writedowns on real estate held for production of
income were recognized.
F-22
<PAGE>
Benefits and other deductions includes $26.6 million and $53.3 million of
interest expense related to amounts borrowed from continuing operations in
1998 and 1997, respectively.
Valuation allowances of $1.9 million and $3.0 million on mortgage loans on
real estate and $54.8 million and $34.8 million on equity real estate were
held at December 31, 1999 and 1998, respectively. Writedowns of equity real
estate were $95.7 million in 1997.
During 1999, 1998 and 1997, discontinued operations' average recorded
investment in impaired mortgage loans was $13.8 million, $73.3 million and
$89.2 million, respectively. Interest income recognized on these impaired
mortgage loans totaled $1.7 million, $4.7 million and $6.6 million ($.0
million, $3.4 million and $5.3 million recognized on a cash basis) for
1999, 1998 and 1997, respectively.
At December 31, 1999 and 1998, discontinued operations had real estate
acquired in satisfaction of debt with carrying values of $24.1 million and
$50.0 million, respectively.
9) SHORT-TERM AND LONG-TERM DEBT
Short-term and long-term debt consists of the following:
<TABLE>
<CAPTION>
DECEMBER 31,
---------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Short-term debt...................................................... $ 557.0 $ 179.3
------------ ------------
Long-term debt:
Equitable Life:
Surplus notes, 6.95% due 2005...................................... 399.5 399.4
Surplus notes, 7.70% due 2015...................................... 199.7 199.7
Other.............................................................. .4 .3
------------ ------------
Total Equitable Life........................................... 599.6 599.4
------------ ------------
Wholly Owned and Joint Venture Real Estate:
Mortgage notes, 5.43% - 9.5%, due through 2017..................... 251.3 392.2
------------ ------------
Alliance:
Other.............................................................. - 10.8
------------ ------------
Total long-term debt................................................. 850.9 1,002.4
------------ ------------
Total Short-term and Long-term Debt.................................. $ 1,407.9 $ 1,181.7
============ ============
</TABLE>
Short-term Debt
---------------
Equitable Life has a $700.0 million bank credit facility available to fund
short-term working capital needs and to facilitate the securities
settlement process. The credit facility consists of two types of borrowing
options with varying interest rates and expires in September 2000. The
interest rates are based on external indices dependent on the type of
borrowing and at December 31, 1999 range from 5.76% to 8.5%. There were no
borrowings outstanding under this bank credit facility at December 31,
1999.
Equitable Life has a commercial paper program with an issue limit of $1.0
billion. This program is available for general corporate purposes used to
support Equitable Life's liquidity needs and is supported by Equitable
Life's existing $700.0 million bank credit facility. At December 31, 1999,
there were $166.9 million outstanding under this program.
Alliance has a $425.0 million five-year revolving credit facility with a
group of commercial banks. Under the facility, the interest rate, at the
option of Alliance, is a floating rate generally based upon a defined prime
rate, a rate related to the London Interbank Offered Rate ("LIBOR") or the
Federal Funds Rate. A facility fee is payable on the total facility. During
July 1999, Alliance increased the size of its commercial paper program by
$200.0 million from $425.0 million for a total available limit of $625.0
million. Borrowings from the revolving credit facility and the original
commercial paper program may not exceed $425.0 million in the aggregate.
The revolving credit facility provides backup liquidity for commercial
paper issued under
F-23
<PAGE>
Alliance's commercial paper program and can be used as a direct source of
borrowing. The revolving credit facility contains covenants that require
Alliance to, among other things, meet certain financial ratios. At December
31, 1999, Alliance had commercial paper outstanding totaling $384.7 million
at an effective interest rate of 5.9%; there were no borrowings outstanding
under Alliance's revolving credit facility.
In December 1999, Alliance established a $100.0 million extendible
commercial notes ("ECN") program to supplement its commercial paper
program. ECN's are short-term debt instruments that do not require any
back-up liquidity support.
Long-term Debt
--------------
Several of the long-term debt agreements have restrictive covenants related
to the total amount of debt, net tangible assets and other matters. At
December 31, 1999, the Company is in compliance with all debt covenants.
The Company has pledged real estate, mortgage loans, cash and securities
amounting to $323.6 million and $640.2 million at December 31, 1999 and
1998, respectively, as collateral for certain short-term and long-term
debt.
At December 31, 1999, aggregate maturities of the long-term debt based on
required principal payments at maturity was $3.0 million for 2000 and
$848.7 million for 2005 and thereafter.
10) FEDERAL INCOME TAXES
A summary of the Federal income tax expense in the consolidated statements
of earnings follows:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Federal income tax expense (benefit):
Current.......................................... $ 174.0 $ 283.3 $ 186.5
Deferred......................................... 158.0 69.8 (95.0)
------------- ------------ ------------
Total.............................................. $ 332.0 $ 353.1 $ 91.5
============= ============ ============
</TABLE>
F-24
<PAGE>
The Federal income taxes attributable to consolidated operations are
different from the amounts determined by multiplying the earnings before
Federal income taxes and minority interest by the expected Federal income
tax rate of 35%. The sources of the difference and their tax effects
follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Expected Federal income tax expense................ $ 458.4 $ 414.3 $ 234.7
Non-taxable minority interest...................... (47.8) (33.2) (38.0)
Non-taxable subsidiary gains....................... (37.1) (6.4) -
Adjustment of tax audit reserves................... 27.8 16.0 (81.7)
Equity in unconsolidated subsidiaries.............. (64.0) (39.3) (45.1)
Other.............................................. (5.3) 1.7 21.6
------------- ------------ ------------
Federal Income Tax Expense......................... $ 332.0 $ 353.1 $ 91.5
============= ============ ============
</TABLE>
The components of the net deferred Federal income taxes are as follows:
<TABLE>
<CAPTION>
DECEMBER 31, 1999 December 31, 1998
----------------------------- -----------------------------
ASSETS LIABILITIES Assets Liabilities
----------- ------------ ------------ -----------
(IN MILLIONS)
<S> <C> <C> <C> <C>
Compensation and related benefits...... $ - $ 37.7 $ 235.3 $ -
Other.................................. - 20.6 27.8 -
DAC, reserves and reinsurance.......... - 329.7 - 231.4
Investments............................ 115.1 - - 364.4
----------- ------------ ------------ -----------
Total.................................. $ 115.1 $ 388.0 $ 263.1 $ 595.8
=========== ============ ============ ===========
</TABLE>
At December 31, 1999, in conjunction with the non-qualified employee
benefit plans, $236.8 million in deferred tax asset was transferred to the
Holding Company. See Note 12 for discussion of the benefit plans
transferred.
The deferred Federal income taxes impacting operations reflect the net tax
effects of temporary differences between the carrying amounts of assets and
liabilities for financial reporting purposes and the amounts used for
income tax purposes. The sources of these temporary differences and their
tax effects follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
DAC, reserves and reinsurance...................... $ 83.2 $ (7.7) $ 46.2
Investments........................................ 3.2 46.8 (113.8)
Compensation and related benefits.................. 21.0 28.6 3.7
Other.............................................. 50.6 2.1 (31.1)
------------- ------------ ------------
Deferred Federal Income Tax
Expense (Benefit)................................ $ 158.0 $ 69.8 $ (95.0)
============= ============ ============
</TABLE>
The Internal Revenue Service (the "IRS") is in the process of examining the
Holding Company's consolidated Federal income tax returns for the years
1992 through 1996. Management believes these audits will have no material
adverse effect on the Company's results of operations.
F-25
<PAGE>
11) REINSURANCE AGREEMENTS
The Insurance Group assumes and cedes reinsurance with other insurance
companies. The Insurance Group evaluates the financial condition of its
reinsurers to minimize its exposure to significant losses from reinsurer
insolvencies. Ceded reinsurance does not relieve the originating insurer of
liability. The effect of reinsurance (excluding group life and health) is
summarized as follows:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Direct premiums.................................... $ 420.6 $ 438.8 $ 448.6
Reinsurance assumed................................ 206.7 203.6 198.3
Reinsurance ceded.................................. (69.1) (54.3) (45.4)
------------- ------------ ------------
Premiums........................................... $ 558.2 $ 588.1 $ 601.5
============= ============ ============
Universal Life and Investment-type Product
Policy Fee Income Ceded.......................... $ 69.7 $ 75.7 $ 61.0
============= ============ ============
Policyholders' Benefits Ceded...................... $ 99.6 $ 85.9 $ 70.6
============= ============ ============
Interest Credited to Policyholders' Account
Balances Ceded................................... $ 38.5 $ 39.5 $ 36.4
============= ============ ============
</TABLE>
Since 1997, the Company reinsures on a yearly renewal term basis 90% of the
mortality risk on new issues of certain term, universal and variable life
products. The Company's retention limit on joint survivorship policies is
$15.0 million. All in force business above $5.0 million is reinsured. The
Insurance Group also reinsures the entire risk on certain substandard
underwriting risks and in certain other cases.
The Insurance Group cedes 100% of its group life and health business to a
third party insurer. Premiums ceded totaled $.1 million, $1.3 million and
$1.6 million for 1999, 1998 and 1997, respectively. Ceded death and
disability benefits totaled $44.7 million, $15.6 million and $4.3 million
for 1999, 1998 and 1997, respectively. Insurance liabilities ceded totaled
$510.5 million and $560.3 million at December 31, 1999 and 1998,
respectively.
F-26
<PAGE>
12) EMPLOYEE BENEFIT PLANS
The Company sponsors qualified and non-qualified defined benefit plans
covering substantially all employees (including certain qualified part-time
employees), managers and certain agents. The pension plans are
non-contributory. Equitable Life's benefits are based on a cash balance
formula or years of service and final average earnings, if greater, under
certain grandfathering rules in the plans. Alliance's benefits are based on
years of credited service, average final base salary and primary social
security benefits. The Company's funding policy is to make the minimum
contribution required by the Employee Retirement Income Security Act of
1974 ("ERISA").
Effective December 31, 1999, the Holding Company legally assumed primary
liability from Equitable Life for all current and future obligations of its
Excess Retirement Plan, Supplemental Executive Retirement Plan and certain
other employee benefit plans that provide participants with medical, life
insurance, and deferred compensation benefits; Equitable Life remains
secondarily liable. The amount of the liability associated with employee
benefits transferred was $676.5 million, including $183.0 million of
non-qualified pension benefit obligations and $394.1 million of
postretirement benefits obligations at December 31, 1999. This transfer was
recorded as a non-cash capital contribution to Equitable Life.
Components of net periodic pension (credit) cost for the qualified and
non-qualified plans follow:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Service cost....................................... $ 36.7 $ 33.2 $ 32.5
Interest cost on projected benefit obligations..... 131.6 129.2 128.2
Actual return on assets............................ (189.8) (175.6) (307.6)
Net amortization and deferrals..................... 7.5 6.1 166.6
------------- ------------ ------------
Net Periodic Pension Cost (Credit)................. $ (14.0) $ (7.1) $ 19.7
============= ============ ============
</TABLE>
The projected benefit obligations under the qualified and non-qualified
pension plans were comprised of:
<TABLE>
<CAPTION>
DECEMBER 31,
-------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Benefit obligations, beginning of year................................. $ 1,933.4 $ 1,801.3
Service cost........................................................... 36.7 33.2
Interest cost.......................................................... 131.6 129.2
Actuarial (gains) losses............................................... (53.3) 108.4
Benefits paid.......................................................... (123.1) (138.7)
------------ ------------
Subtotal before transfer............................................... 1,925.3 1,933.4
Transfer of Non-qualified Pension Benefit Obligation
to the Holding Company............................................... (262.5) -
------------ ------------
Benefit Obligation, End of Year........................................ $ 1,662.8 $ 1,933.4
============ ============
</TABLE>
F-27
<PAGE>
The funded status of the qualified and non-qualified pension plans was as
follows:
<TABLE>
<CAPTION>
DECEMBER 31,
-------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Plan assets at fair value, beginning of year........................... $ 2,083.1 $ 1,867.4
Actual return on plan assets........................................... 369.0 338.9
Contributions.......................................................... .1 -
Benefits paid and fees................................................. (108.5) (123.2)
------------ ------------
Plan assets at fair value, end of year................................. 2,343.7 2,083.1
Projected benefit obligations.......................................... 1,925.3 1,933.4
------------ ------------
Excess of plan assets over projected benefit obligations............... 418.4 149.7
Unrecognized prior service cost........................................ (5.2) (7.5)
Unrecognized net (gain) loss from past experience different
from that assumed.................................................... (197.3) 38.7
Unrecognized net asset at transition................................... (.1) 1.5
------------ ------------
Subtotal before transfer............................................... 215.8 182.4
Transfer of Accrued Non-qualified Pension Benefit Obligation
to the Holding Company............................................... 183.0 -
------------ ------------
Prepaid Pension Cost, Net.............................................. $ 398.8 $ 182.4
============ ============
</TABLE>
The prepaid pension cost for pension plans with assets in excess of
projected benefit obligations was $412.2 million and $363.9 million and the
accrued liability for pension plans with projected benefit obligations in
excess of plan assets was $13.5 million and $181.5 million at December 31,
1999 and 1998, respectively.
The pension plan assets include corporate and government debt securities,
equity securities, equity real estate and shares of group trusts managed by
Alliance. The discount rate and rate of increase in future compensation
levels used in determining the actuarial present value of projected benefit
obligations were 8.0% and 6.38%, respectively, at December 31, 1999 and
7.0% and 3.83%, respectively, at December 31, 1998. As of January 1, 1999
and 1998, the expected long-term rate of return on assets for the
retirement plan was 10.0% and 10.25%, respectively.
The Company recorded, as a reduction of shareholder's equity, an additional
minimum pension liability of $.1 million, $28.3 million and $17.3 million,
net of Federal income taxes, at December 31, 1999, 1998 and 1997,
respectively, primarily representing the excess of the accumulated benefit
obligation of the non-qualified pension plan over the accrued liability.
The aggregate accumulated benefit obligation and fair value of plan assets
for pension plans with accumulated benefit obligations in excess of plan
assets were $325.7 million and $36.3 million, respectively, at December 31,
1999 and $309.7 million and $34.5 million, respectively, at December 31,
1998.
Prior to 1987, the qualified plan funded participants' benefits through the
purchase of non-participating annuity contracts from Equitable Life.
Benefit payments under these contracts were approximately $30.2 million,
$31.8 million and $33.2 million for 1999, 1998 and 1997, respectively.
The Company provides certain medical and life insurance benefits
(collectively, "postretirement benefits") for qualifying employees,
managers and agents retiring from the Company (i) on or after attaining age
55 who have at least 10 years of service or (ii) on or after attaining age
65 or (iii) whose jobs have been abolished and who have attained age 50
with 20 years of service. The life insurance benefits are related to age
and salary at retirement. The costs of postretirement benefits are
recognized in accordance with the provisions of SFAS No. 106. The Company
continues to fund postretirement benefits costs on a pay-as-you-go basis
and, for 1999, 1998 and 1997, the Company made estimated postretirement
benefits payments of $29.5 million, $28.4 million and $18.7 million,
respectively.
F-28
<PAGE>
The following table sets forth the postretirement benefits plan's status,
reconciled to amounts recognized in the Company's consolidated financial
statements:
<TABLE>
<CAPTION>
1999 1998 1997
----------------- ---------------- -----------------
(IN MILLIONS)
<S> <C> <C> <C>
Service cost....................................... $ 4.7 $ 4.6 $ 4.5
Interest cost on accumulated postretirement
benefits obligation.............................. 34.4 33.6 34.7
Unrecognized prior service costs................... (7.0) - -
Net amortization and deferrals..................... 8.4 .5 1.9
----------------- ---------------- -----------------
Net Periodic Postretirement Benefits Costs......... $ 40.5 $ 38.7 $ 41.1
================= ================ =================
</TABLE>
<TABLE>
<CAPTION>
DECEMBER 31,
-------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Accumulated postretirement benefits obligation, beginning
of year.............................................................. $ 490.4 $ 490.8
Service cost........................................................... 4.7 4.6
Interest cost.......................................................... 34.4 33.6
Contributions and benefits paid........................................ (29.5) (28.4)
Actuarial gains........................................................ (29.0) (10.2)
------------ ------------
Accumulated postretirement benefits obligation, end of year............ 471.0 490.4
Unrecognized prior service cost........................................ 26.9 31.8
Unrecognized net loss from past experience different
from that assumed and from changes in assumptions.................... (86.0) (121.2)
------------ ------------
Subtotal before transfer............................................... 411.9 401.0
Transfer to the Holding Company........................................ (394.1) -
------------ ------------
Accrued Postretirement Benefits Cost................................... $ 17.8 $ 401.0
============ ============
</TABLE>
Since January 1, 1994, costs to the Company for providing these medical
benefits available to retirees under age 65 are the same as those offered
to active employees and medical benefits will be limited to 200% of 1993
costs for all participants.
The assumed health care cost trend rate used in measuring the accumulated
postretirement benefits obligation was 7.5% in 1999, gradually declining to
4.75% in the year 2010, and in 1998 was 8.0%, gradually declining to 2.5%
in the year 2009. The discount rate used in determining the accumulated
postretirement benefits obligation was 8.0% and 7.0% at December 31, 1999
and 1998, respectively.
If the health care cost trend rate assumptions were increased by 1%, the
accumulated postretirement benefits obligation as of December 31, 1999
would be increased 3.55%. The effect of this change on the sum of the
service cost and interest cost would be an increase of 3.91%. If the health
care cost trend rate assumptions were decreased by 1% the accumulated
postretirement benefits obligation as of December 31, 1999 would be
decreased by 4.38%. The effect of this change on the sum of the service
cost and interest cost would be a decrease of 4.96%.
F-29
<PAGE>
13) DERIVATIVES AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivatives
-----------
The Insurance Group primarily uses derivatives for asset/liability risk
management and for hedging individual securities. Derivatives mainly are
utilized to reduce the Insurance Group's exposure to interest rate
fluctuations. Accounting for interest rate swap transactions is on an
accrual basis. Gains and losses related to interest rate swap transactions
are amortized as yield adjustments over the remaining life of the
underlying hedged security. Income and expense resulting from interest rate
swap activities are reflected in net investment income. The notional amount
of matched interest rate swaps outstanding at December 31, 1999 and 1998,
respectively, was $797.3 million and $880.9 million. The average unexpired
terms at December 31, 1999 ranged from two months to 5.0 years. At December
31, 1999, the cost of terminating swaps in a loss position was $1.8
million. Equitable Life maintains an interest rate cap program designed to
hedge crediting rates on interest-sensitive individual annuities contracts.
The outstanding notional amounts at December 31, 1999 of contracts
purchased and sold were $7,575.0 million and $875.0 million, respectively.
The net premium paid by Equitable Life on these contracts was $51.6 million
and is being amortized ratably over the contract periods ranging from 1 to
4 years. Income and expense resulting from this program are reflected as an
adjustment to interest credited to policyholders' account balances.
DLJ enters into certain contractual agreements referred to as derivatives
or off-balance-sheet financial instruments primarily for trading purposes
and to provide products for its clients. DLJ performs the following
activities: writing over-the-counter ("OTC") options to accommodate
customer needs; trading in forward contracts in U.S. government and agency
issued or guaranteed securities; trading in futures contracts on equity
based indices, interest rate instruments, and currencies; and issuing
structured products based on emerging market financial instruments and
indices. DLJ also enters into swap agreements, primarily equity, interest
rate and foreign currency swaps. DLJ is not significantly involved in
commodity derivative instruments.
Fair Value of Financial Instruments
-----------------------------------
The Company defines fair value as the quoted market prices for those
instruments that are actively traded in financial markets. In cases where
quoted market prices are not available, fair values are estimated using
present value or other valuation techniques. The fair value estimates are
made at a specific point in time, based on available market information and
judgments about the financial instrument, including estimates of the timing
and amount of expected future cash flows and the credit standing of
counterparties. Such estimates do not reflect any premium or discount that
could result from offering for sale at one time the Company's entire
holdings of a particular financial instrument, nor do they consider the tax
impact of the realization of unrealized gains or losses. In many cases, the
fair value estimates cannot be substantiated by comparison to independent
markets, nor can the disclosed value be realized in immediate settlement of
the instrument.
Certain financial instruments are excluded, particularly insurance
liabilities other than financial guarantees and investment contracts. Fair
market value of off-balance-sheet financial instruments of the Insurance
Group was not material at December 31, 1999 and 1998.
F-30
<PAGE>
Fair values for mortgage loans on real estate are estimated by discounting
future contractual cash flows using interest rates at which loans with
similar characteristics and credit quality would be made. Fair values for
foreclosed mortgage loans and problem mortgage loans are limited to the
estimated fair value of the underlying collateral if lower.
Fair values of policy loans are estimated by discounting the face value of
the loans from the time of the next interest rate review to the present, at
a rate equal to the excess of the current estimated market rates over the
current interest rate charged on the loan.
The estimated fair values for the Company's association plan contracts,
supplementary contracts not involving life contingencies ("SCNILC") and
annuities certain, which are included in policyholders' account balances,
and guaranteed interest contracts are estimated using projected cash flows
discounted at rates reflecting expected current offering rates.
The estimated fair values for variable deferred annuities and single
premium deferred annuities ("SPDA"), which are included in policyholders'
account balances, are estimated by discounting the account value back from
the time of the next crediting rate review to the present, at a rate equal
to the excess of current estimated market rates offered on new policies
over the current crediting rates.
Fair values for long-term debt are determined using published market
values, where available, or contractual cash flows discounted at market
interest rates. The estimated fair values for non-recourse mortgage debt
are determined by discounting contractual cash flows at a rate which takes
into account the level of current market interest rates and collateral
risk. The estimated fair values for recourse mortgage debt are determined
by discounting contractual cash flows at a rate based upon current interest
rates of other companies with credit ratings similar to the Company. The
Company's carrying value of short-term borrowings approximates their
estimated fair value.
The following table discloses carrying value and estimated fair value for
financial instruments not otherwise disclosed in Notes 3, 7 and 8:
<TABLE>
<CAPTION>
DECEMBER 31,
--------------------------------------------------------------------
1999 1998
--------------------------------- ---------------------------------
CARRYING ESTIMATED Carrying Estimated
VALUE FAIR VALUE Value Fair Value
--------------- ---------------- --------------- ---------------
(IN MILLIONS)
<S> <C> <C> <C> <C>
Consolidated Financial Instruments:
-----------------------------------
Mortgage loans on real estate.......... $ 3,270.0 $ 3,239.3 $ 2,809.9 $ 2,961.8
Other limited partnership interests.... 647.9 647.9 562.6 562.6
Policy loans........................... 2,257.3 2,359.5 2,086.7 2,370.7
Policyholders' account balances -
investment contracts................. 12,740.4 12,800.5 12,892.0 13,396.0
Long-term debt......................... 850.9 834.9 1,002.4 1,025.2
Closed Block Financial Instruments:
-----------------------------------
Mortgage loans on real estate.......... $ 1,704.2 $ 1,650.3 $ 1,633.4 $ 1,703.5
Other equity investments............... 36.3 36.3 56.4 56.4
Policy loans........................... 1,593.9 1,712.0 1,641.2 1,929.7
SCNILC liability....................... 22.8 22.5 25.0 25.0
Discontinued Operations Financial
---------------------------------
Instruments:
------------
Mortgage loans on real estate.......... $ 454.6 $ 467.0 $ 553.9 $ 599.9
Fixed maturities....................... 85.5 85.5 24.9 24.9
Other equity investments............... 55.8 55.8 115.1 115.1
Guaranteed interest contracts.......... 33.2 27.5 37.0 34.0
Long-term debt......................... 101.9 101.9 147.1 139.8
</TABLE>
F-31
<PAGE>
14) COMMITMENTS AND CONTINGENT LIABILITIES
The Company has provided, from time to time, certain guarantees or
commitments to affiliates, investors and others. These arrangements include
commitments by the Company, under certain conditions: to make capital
contributions of up to $59.4 million to affiliated real estate joint
ventures; and to provide equity financing to certain limited partnerships
of $373.8 million at December 31, 1999, under existing loan or loan
commitment agreements.
Equitable Life is the obligor under certain structured settlement
agreements which it had entered into with unaffiliated insurance companies
and beneficiaries. To satisfy its obligations under these agreements,
Equitable Life owns single premium annuities issued by previously wholly
owned life insurance subsidiaries. Equitable Life has directed payment
under these annuities to be made directly to the beneficiaries under the
structured settlement agreements. A contingent liability exists with
respect to these agreements should the previously wholly owned subsidiaries
be unable to meet their obligations. Management believes the satisfaction
of those obligations by Equitable Life is remote.
The Insurance Group had $24.9 million of letters of credit outstanding at
December 31, 1999.
15) LITIGATION
The Company
-----------
Life Insurance and Annuity Sales Cases
A number of lawsuits are pending as individual claims and purported class
actions against Equitable Life, its subsidiary insurance company and a
former insurance subsidiary. These actions involve, among other things,
sales of life and annuity products for varying periods from 1980 to the
present, and allege, among other things, sales practice misrepresentation
primarily involving: the number of premium payments required; the propriety
of a product as an investment vehicle; the propriety of a product as a
replacement of an existing policy; and failure to disclose a product as
life insurance. Some actions are in state courts and others are in U.S.
District Courts in different jurisdictions, and are in varying stages of
discovery and motions for class certification.
In general, the plaintiffs request an unspecified amount of damages,
punitive damages, enjoinment from the described practices, prohibition
against cancellation of policies for non-payment of premium or other
remedies, as well as attorneys' fees and expenses. Similar actions have
been filed against other life and health insurers and have resulted in the
award of substantial judgments, including material amounts of punitive
damages, or in substantial settlements. Although the outcome of litigation
cannot be predicted with certainty, particularly in the early stages of an
action, the Company's management believes that the ultimate resolution of
these cases should not have a material adverse effect on the financial
position of the Company. The Company's management cannot make an estimate
of loss, if any, or predict whether or not any such litigation will have a
material adverse effect on the Company's results of operations in any
particular period.
Discrimination Case
Equitable Life is a defendant in an action, certified as a class action in
September 1997, in the United States District Court for the Northern
District of Alabama, Southern Division, involving alleged discrimination on
the basis of race against African-American applicants and potential
applicants in hiring individuals as sales agents. Plaintiffs seek a
declaratory judgment and affirmative and negative injunctive relief,
including the payment of back-pay, pension and other compensation. Although
the outcome of litigation cannot be predicted with certainty, the Company's
management believes that the ultimate resolution of this matter should not
have a material adverse effect on the financial position of the Company.
The Company's management cannot make an estimate of loss, if any, or
predict whether or not such matter will have a material adverse effect on
the Company's results of operations in any particular period.
Agent Health Benefits Case
Equitable Life is a defendant in an action, certified as a class action in
March 1999, in the United States District Court for the Northern District
of California, alleging, among other things, that Equitable Life violated
ERISA by eliminating certain alternatives pursuant to which agents of
Equitable Life could qualify for health care coverage. The class consists
of "[a]ll current, former and retired Equitable agents, who while
F-32
<PAGE>
associated with Equitable satisfied [certain alternatives] to qualify for
health coverage or contributions thereto under applicable plans."
Plaintiffs allege various causes of action under ERISA, including claims
for enforcement of alleged promises contained in plan documents and for
enforcement of agent bulletins, breach of unilateral contract, breach of
fiduciary duty and promissory estoppel. The parties are currently engaged
in discovery. Although the outcome of any litigation cannot be predicted
with certainty, the Company's management believes that the ultimate
resolution of this matter should not have a material adverse effect on the
financial position of the Company. The Company's management cannot make an
estimate of loss, if any, or predict whether or not such matter will have a
material adverse effect on the Company's results of operations in any
particular period.
Prime Property Fund Case
In January 2000, the California Supreme Court denied the Company's petition
for review of an October 1999 decision by the California Superior Court of
Appeal. Such decision reversed the dismissal by the Supreme Court of Orange
County, California of an action which was commenced in 1995 by a real
estate developer in connection with a limited partnership formed in 1991
with the Company on behalf of Prime Property Fund ("PPF"). The Company
serves as investment manager for PPF, an open-end, commingled real estate
separate account of the Company for pension clients. Plaintiff alleges
breach of fiduciary duty and other claims principally in connection with
PPF's 1995 purchase and subsequent foreclosure of the loan which financed
the partnership's property. Plaintiff seeks compensatory and punitive
damages. The case has been remanded to the Superior Court for further
proceedings. Although the outcome of litigation cannot be predicted with
certainty, the Company's management believes that the ultimate resolution
of this matter should not have a material adverse effect on the financial
position of the Company. The Company's management cannot make an estimate
of loss, if any, or predict whether or not this matter will have a material
adverse effect on the Company's results of operations in any particular
period.
Alliance Capital
----------------
In July 1995, a class action complaint was filed against Alliance North
American Government Income Trust, Inc. (the "Fund"), Alliance Holding and
certain other defendants affiliated with Alliance, including the Holding
Company, alleging violations of Federal securities laws, fraud and breach
of fiduciary duty in connection with the Fund's investments in Mexican and
Argentine securities. The original complaint was dismissed in 1996; on
appeal, the dismissal was affirmed. In October 1996, plaintiffs filed a
motion for leave to file an amended complaint, alleging the Fund failed to
hedge against currency risk despite representations that it would do so,
the Fund did not properly disclose that it planned to invest in
mortgage-backed derivative securities and two Fund advertisements
misrepresented the risks of investing in the Fund. In October 1998, the
U.S. Court of Appeals for the Second Circuit issued an order granting
plaintiffs' motion to file an amended complaint alleging that the Fund
misrepresented its ability to hedge against currency risk and denying
plaintiffs' motion to file an amended complaint containing the other
allegations. In December 1999, the United States District Court for the
Southern District of New York granted the defendants' motion for summary
judgment on all claims against all defendants. Later in December 1999, the
plaintiffs filed motions for reconsideration of the Court's ruling. These
motions are currently pending with the Court.
In connection with the Reorganization; Alliance assumed any liabilities
which Alliance Holding may have with respect to this action. Alliance and
Alliance Holding believe that the allegations in the amended complaint are
without merit and intend to vigorously defend against these claims. While
the ultimate outcome of this matter cannot be determined at this time,
management of Alliance Holding and Alliance do not expect that it will have
a material adverse effect on Alliance Holding's or Alliance's results of
operations or financial condition.
DLJSC
-----
Donaldson, Lufkin & Jenrette Securities Corporation ("DLJSC") is a
defendant along with certain other parties in a class action complaint
involving the underwriting of units, consisting of notes and warrants to
purchase common shares, of Rickel Home Centers, Inc. ("Rickel"), which
filed a voluntary petition for reorganization pursuant to Chapter 11 of the
Bankruptcy Code. The complaint seeks unspecified compensatory and punitive
damages from DLJSC, as an underwriter and as an owner of 7.3% of the common
stock, for alleged violation of Federal securities laws and common law
fraud for alleged misstatements and omissions contained in the prospectus
and registration statement used in the offering of the units. In April
1999, the complaint against DLJSC and the other defendants was dismissed.
The plaintiffs have appealed. DLJSC intends to defend itself vigorously
against all the allegations contained in the complaint.
DLJSC is a defendant in a purported class action filed in a Texas State
Court on behalf of the holders of $550 million principal amount of
subordinated redeemable discount debentures of National Gypsum Corporation
("NGC"). The debentures were canceled in connection with a Chapter 11 plan
of reorganization for NGC consummated in July 1993. The litigation seeks
compensatory and punitive damages for DLJSC's activities as financial
advisor to NGC in the course of NGC's Chapter 11 proceedings. In March
1999, the Court granted motions for summary judgment filed by DLJSC and the
other defendants. The plaintiffs have appealed. DLJSC intends to defend
itself vigorously against all the allegations contained in the complaint.
In November 1998, three purported class actions were filed in the U.S.
District Court for the Southern District of New York against more than 25
underwriters of initial public offering securities, including DLJSC. The
complaints allege that defendants conspired to fix the "fee" paid for
underwriting initial public offering securities by setting the
underwriters' discount or "spread" at 7%, in violation of the Federal
antitrust laws. The complaints seek treble damages in an unspecified amount
and injunctive relief as well as attorneys' fees and costs. In March 1999,
the plaintiffs filed a consolidated amended complaint. A motion by all
defendants
F-33
<PAGE>
to dismiss the complaints on several grounds is pending. Separately, the
U.S. Department of Justice has issued a Civil Investigative Demand to
several investment banking firms, including DLJSC, seeking documents and
information relating to "alleged" price-fixing with respect to underwriting
spreads in initial public offerings. The Justice Department has not made
any charges against DLJSC or the other investment banking firms. DLJSC is
cooperating with the Justice Department in providing the requested
information and believes that no violation of law by DLJSC has occurred.
Although there can be no assurance, DLJ's management does not believe that
the ultimate resolution of the litigations described above to which DLJSC
is a party will have a material adverse effect on DLJ's consolidated
financial condition. Based upon the information currently available to it,
DLJ's management cannot predict whether or not such litigations will have a
material adverse effect on DLJ's results of operations in any particular
period.
Other Matters
In addition to the matters described above, the Holding Company and its
subsidiaries are involved in various legal actions and proceedings in
connection with their businesses. Some of the actions and proceedings have
been brought on behalf of various alleged classes of claimants and certain
of these claimants seek damages of unspecified amounts. While the ultimate
outcome of such matters cannot be predicted with certainty, in the opinion
of management no such matter is likely to have a material adverse effect on
the Company's consolidated financial position or results of operations.
16) LEASES
The Company has entered into operating leases for office space and certain
other assets, principally information technology equipment and office
furniture and equipment. Future minimum payments under noncancelable leases
for 2000 and the four successive years are $111.2 million, $93.3 million,
$78.3 million, $71.9 million, $66.5 million and $523.7 million thereafter.
Minimum future sublease rental income on these noncancelable leases for
2000 and the four successive years is $5.2 million, $4.1 million, $2.8
million, $2.8 million, $2.8 million and $23.8 million thereafter.
At December 31, 1999, the minimum future rental income on noncancelable
operating leases for wholly owned investments in real estate for 2000 and
the four successive years is $120.7 million, $113.5 million, $96.0 million,
$79.7 million, $74.1 million and $354.6 million thereafter.
17) OTHER OPERATING COSTS AND EXPENSES
Other operating costs and expenses consisted of the following:
<TABLE>
<CAPTION>
1999 1998 1997
------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C>
Compensation costs................................. $ 1,010.6 $ 772.0 $ 721.5
Commissions........................................ 549.5 478.1 409.6
Short-term debt interest expense................... 16.7 26.1 31.7
Long-term debt interest expense.................... 76.3 84.6 121.2
Amortization of policy acquisition costs........... 314.5 292.7 287.3
Capitalization of policy acquisition costs......... (709.9) (609.1) (508.0)
Writedown of policy acquisition costs.............. 131.7 - -
Rent expense, net of sublease income............... 113.9 100.0 101.8
Cursitor intangible assets writedown............... - - 120.9
Other.............................................. 1,294.0 1,056.8 917.9
------------- ------------ ------------
Total.............................................. $ 2,797.3 $ 2,201.2 $ 2,203.9
================= ================ =================
</TABLE>
F-34
<PAGE>
During 1997, the Company restructured certain operations in connection with
cost reduction programs and recorded a pre-tax provision of $42.4 million.
The amount paid during 1999 associated with cost reduction programs totaled
$15.6 million. At December 31, 1999, the remaining liabilities associated
with cost reduction programs was $8.8 million. The 1997 cost reduction
program included costs related to employee termination and exit costs.
18) INSURANCE GROUP STATUTORY FINANCIAL INFORMATION
Equitable Life is restricted as to the amounts it may pay as shareholder
dividends. Under the New York Insurance Law, the Superintendent has broad
discretion to determine whether the financial condition of a stock life
insurance company would support the payment of dividends to its
shareholders. For 1999, 1998 and 1997, statutory net income (loss) totaled
$547.0 million, $384.4 million and ($351.7) million, respectively.
Statutory surplus, capital stock and Asset Valuation Reserve ("AVR")
totaled $5,570.6 million and $4,728.0 million at December 31, 1999 and
1998, respectively. In September 1999, $150.0 million in dividends were
paid to the Holding Company by Equitable Life, the first such payment since
Equitable Life's demutualization in 1992.
At December 31, 1999, the Insurance Group, in accordance with various
government and state regulations, had $26.8 million of securities deposited
with such government or state agencies.
The differences between statutory surplus and capital stock determined in
accordance with Statutory Accounting Principles ("SAP") and total
shareholder's equity under GAAP are primarily: (a) the inclusion in SAP of
an AVR intended to stabilize surplus from fluctuations in the value of the
investment portfolio; (b) future policy benefits and policyholders' account
balances under SAP differ from GAAP due to differences between actuarial
assumptions and reserving methodologies; (c) certain policy acquisition
costs are expensed under SAP but deferred under GAAP and amortized over
future periods to achieve a matching of revenues and expenses; (d) external
and certain internal costs incurred to obtain or develop internal use
computer software during the application development stage is capitalized
under GAAP but expensed under SAP; (e) Federal income taxes are generally
accrued under SAP based upon revenues and expenses in the Federal income
tax return while under GAAP deferred taxes provide for timing differences
between recognition of revenues and expenses for financial reporting and
income tax purposes; (f) the valuation of assets under SAP and GAAP differ
due to different investment valuation and depreciation methodologies, as
well as the deferral of interest-related realized capital gains and losses
on fixed income investments; and (g) differences in the accrual
methodologies for post-employment and retirement benefit plans.
F-35
<PAGE>
19) BUSINESS SEGMENT INFORMATION
The Company's operations consist of Insurance and Investment Services. The
Company's management evaluates the performance of each of these segments
independently and allocates resources based on current and future
requirements of each segment. Management evaluates the performance of each
segment based upon operating results adjusted to exclude the effect of
unusual or non-recurring events and transactions and certain revenue and
expense categories not related to the base operations of the particular
business net of minority interest. Information for all periods is presented
on a comparable basis.
Intersegment investment advisory and other fees of approximately $75.6
million, $61.8 million and $84.1 million for 1999, 1998 and 1997,
respectively, are included in total revenues of the Investment Services
segment. These fees, excluding amounts related to discontinued operations
of $.5 million, $.5 million and $4.2 million for 1999, 1998 and 1997,
respectively, are eliminated in consolidation.
The following tables reconcile each segment's revenues and operating
earnings to total revenues and earnings from continuing operations before
Federal income taxes and cumulative effect of accounting change as reported
on the consolidated statements of earnings and the segments' assets to
total assets on the consolidated balance sheets, respectively.
<TABLE>
<CAPTION>
INVESTMENT
INSURANCE SERVICES ELIMINATION TOTAL
------------- ------------ ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C> <C>
1999
----
Segment revenues..................... $ 4,283.0 $ 2,052.7 $ (23.8) $ 6,311.9
Investment (losses) gains............ (199.4) 111.5 - (87.9)
------------- ------------ ------------ ------------
Total Revenues....................... $ 4,083.6 $ 2,164.2 $ (23.8) $ 6,224.0
============= ============ ============ ============
Pre-tax operating earnings........... $ 895.7 $ 427.0 $ - $ 1,322.7
Investment (losses) gains , net of
DAC and other charges.............. (208.4) 110.5 - (97.9)
Non-recurring DAC adjustments........ (131.7) - - (131.7)
Pre-tax minority interest............ - 216.8 - 216.8
------------- ------------ ------------ ------------
Earnings from Continuing
Operations......................... $ 555.6 $ 754.3 $ - $ 1,309.9
============= ============ ============ ============
Total Assets......................... $ 86,842.7 $ 12,961.7 $ (8.9) $ 99,795.5
============= ============ ============ ============
1998
----
Segment revenues..................... $ 4,029.8 $ 1,438.4 $ (5.7) $ 5,462.5
Investment gains..................... 64.8 35.4 - 100.2
------------- ------------ ------------ ------------
Total Revenues....................... $ 4,094.6 $ 1,473.8 $ (5.7) $ 5,562.7
============= ============ ============ ============
Pre-tax operating earnings........... $ 688.6 $ 284.3 $ - $ 972.9
Investment gains, net of
DAC and other charges.............. 41.7 27.7 - 69.4
Pre-tax minority interest............ - 141.5 - 141.5
------------- ------------ ------------ ------------
Earnings from Continuing
Operations......................... 730.3 453.5 - 1,183.8
============= ============ ============ ============
Total Assets......................... $ 75,626.0 $ 12,379.2 $ (64.4) $ 87,940.8
============= ============ ============ ============
</TABLE>
F-36
<PAGE>
<TABLE>
<CAPTION>
INVESTMENT
INSURANCE SERVICES ELIMINATION TOTAL
------------- ------------ ------------ ------------
<S> <C> <C> <C> <C>
1997
----
Segment revenues..................... $ 3,990.8 $ 1,200.0 $ (7.7) $ 5,183.1
Investment (losses) gains............ (318.8) 255.1 - (63.7)
------------- ------------ ------------ ------------
Total Revenues....................... $ 3,672.0 $ 1,455.1 $ (7.7) $ 5,119.4
============= ============ ============ ============
Pre-tax operating earnings........... $ 507.0 $ 258.3 $ - $ 765.3
Investment (losses) gains, net of
DAC and other charges.............. (292.5) 252.7 - (39.8)
Non-recurring costs and expenses..... (41.7) (121.6) - (163.3)
Pre-tax minority interest............ - 108.5 - 108.5
------------- ------------ ------------ ------------
Earnings from Continuing
Operations......................... $ 172.8 $ 497.9 $ - $ 670.7
============= ============ ============ ============
Total Assets......................... $ 67,762.4 $ 13,691.4 $ (96.1) $ 81,357.7
============= ============ ============ ============
</TABLE>
20) QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The quarterly results of operations for 1999 and 1998 are summarized below:
<TABLE>
<CAPTION>
THREE MONTHS ENDED
------------------------------------------------------------------------
MARCH 31 JUNE 30 SEPTEMBER 30 DECEMBER 31
------------- ------------- ------------ ------------
(IN MILLIONS)
<S> <C> <C> <C> <C>
1999
----
Total Revenues................ $ 1,484.3 $ 1,620.3 $ 1,512.1 $ 1,607.3
============= ============= ============ ============
Earnings from Continuing
Operations.................. $ 187.3 $ 222.6 $ 186.5 $ 182.1
============= ============= ============ ============
Net Earnings.................. $ 182.0 $ 221.3 $ 183.1 $ 220.2
============= ============= ============ ============
1998
----
Total Revenues................ $ 1,470.2 $ 1,422.9 $ 1,297.6 $ 1,372.0
============= ============= ============ ============
Earnings from Continuing
Operations.................. $ 212.8 $ 197.0 $ 136.8 $ 158.9
============= ============= ============ ============
Net Earnings.................. $ 213.3 $ 198.3 $ 137.5 $ 159.1
============= ============= ============ ============
</TABLE>
F-37
<PAGE>
21) INVESTMENT IN DLJ
At December 31, 1999, the Company's ownership of DLJ interest was
approximately 31.71%. The Company's ownership interest in DLJ will continue
to be reduced upon the exercise of options granted to certain DLJ employees
and the vesting of forfeitable restricted stock units acquired by DLJ
employees. DLJ restricted stock units represent forfeitable rights to
receive approximately 5.2 million shares of DLJ common stock through
February 2000.
The results of operations of DLJ are accounted for on the equity basis and
are included in commissions, fees and other income in the consolidated
statements of earnings. The Company's carrying value of DLJ is included in
investment in and loans to affiliates in the consolidated balance sheets.
Summarized balance sheets information for DLJ, reconciled to the Company's
carrying value of DLJ, are as follows:
<TABLE>
<CAPTION>
DECEMBER 31,
-------------------------------
1999 1998
------------ ------------
(IN MILLIONS)
<S> <C> <C>
Assets:
Trading account securities, at market value............................ $ 27,982.4 $ 13,195.1
Securities purchased under resale agreements........................... 29,538.1 20,063.3
Broker-dealer related receivables...................................... 44,998.1 34,264.5
Other assets........................................................... 6,493.5 4,759.3
------------ ------------
Total Assets........................................................... $ 109,012.1 $ 72,282.2
============ ============
Liabilities:
Securities sold under repurchase agreements............................ $ 56,474.4 $ 35,775.6
Broker-dealer related payables......................................... 37,207.4 26,161.5
Short-term and long-term debt.......................................... 6,518.6 3,997.6
Other liabilities...................................................... 4,704.5 3,219.8
------------ ------------
Total liabilities...................................................... 104,904.9 69,154.5
DLJ's company-obligated mandatorily redeemed preferred
securities of subsidiary trust holding solely debentures of DLJ...... 200.0 200.0
Total shareholders' equity............................................. 3,907.2 2,927.7
------------ ------------
Total Liabilities, Cumulative Exchangeable Preferred Stock and
Shareholders' Equity................................................. $ 109,012.1 $ 72,282.2
============ ============
DLJ's equity as reported............................................... $ 3,907.2 $ 2,927.7
Unamortized cost in excess of net assets acquired in 1985
and other adjustments................................................ 22.9 23.7
The Holding Company's equity ownership in DLJ.......................... (1,341.4) (1,002.4)
Minority interest in DLJ............................................... (1,479.3) (1,118.2)
------------ ------------
The Company's Carrying Value of DLJ.................................... $ 1,109.4 $ 830.8
============ ============
</TABLE>
F-38
<PAGE>
Summarized statements of earnings information for DLJ reconciled to the
Company's equity in earnings of DLJ is as follows:
<TABLE>
<CAPTION>
1999 1998 1997
------------ ------------ -------------
(IN MILLIONS)
<S> <C> <C> <C>
Commission, fees and other income..................... $ 4,145.1 $ 3,150.5 $ 2,430.7
Net investment income................................. 2,175.3 2,189.1 1,652.1
Principal Transactions, net........................... 825.9 67.4 557.7
------------ ------------ -------------
Total revenues........................................ 7,146.3 5,407.0 4,640.5
Total expenses including income taxes................. 6,545.6 5,036.2 4,232.2
------------ ------------ -------------
Net earnings.......................................... 600.7 370.8 408.3
Dividends on preferred stock.......................... 21.2 21.3 12.2
------------ ------------ -------------
Earnings Applicable to Common Shares.................. $ 579.5 $ 349.5 $ 396.1
============ ============ =============
DLJ's earnings applicable to common shares as
reported............................................ $ 579.5 $ 349.5 $ 396.1
Amortization of cost in excess of net assets
acquired in 1985.................................... (.9) (.8) (1.3)
The Holding Company's equity in DLJ's earnings........ (222.7) (136.8) (156.8)
Minority interest in DLJ.............................. (172.9) (99.5) (109.1)
------------ ------------ -------------
The Company's Equity in DLJ's Earnings................ $ 183.0 $ 112.4 $ 128.9
============ ============ =============
</TABLE>
22) ACCOUNTING FOR STOCK-BASED COMPENSATION
The Holding Company sponsors a stock incentive plan for employees of
Equitable Life. DLJ and Alliance each sponsor their own stock option plans
for certain employees. The Company has elected to continue to account for
stock-based compensation using the intrinsic value method prescribed in APB
No. 25. Had compensation expense for the Holding Company, DLJ and Alliance
Stock Option Incentive Plan options been determined based on SFAS No. 123's
fair value based method, the Company's pro forma net earnings for 1999,
1998 and 1997 would have been $757.1 million, $678.4 million and $426.3
million, respectively.
The fair values of options granted after December 31, 1994, used as a basis
for the pro forma disclosures above, were estimated as of the grant dates
using the Black-Scholes option pricing model. The option pricing
assumptions for 1999, 1998 and 1997 follow:
<TABLE>
<CAPTION>
HOLDING COMPANY DLJ ALLIANCE
------------------------------ ------------------------------- ----------------------------------
1999 1998 1997 1999 1998 1997 1999 1998 1997
--------- ---------- --------- ---------- --------- ---------- --------- ------------ -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Dividend yield...... 0.31% 0.32% 0.48% 0.56% 0.69% 0.86% 8.70% 6.50% 8.00%
Expected volatility. 28% 28% 20% 36% 40% 33% 29% 29% 26%
Risk-free interest
rate.............. 5.46% 5.48% 5.99% 5.06% 5.53% 5.96% 5.70% 4.40% 5.70%
Expected life
in years.......... 5 5 5 5 5 5 7 7.2 7.2
Weighted average
fair value per
option at
grant-date........ $10.78 $11.32 $6.13 $17.19 $16.27 $10.81 $3.88 $3.86 $2.18
</TABLE>
F-39
<PAGE>
A summary of the Holding Company, DLJ and Alliance's option plans follows:
<TABLE>
<CAPTION>
HOLDING COMPANY DLJ ALLIANCE
----------------------------- ----------------------------- -----------------------------
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
Price of Price of Price of
Shares Options Shares Options Units Options
(In Millions) Outstanding (In Millions) Outstanding (In Millions) Outstanding
--------------- ------------- --------------- ------------- -----------------------------
<S> <C> <C> <C> <C> <C> <C>
Balance as of
January 1, 1997........ 13.4 $10.40 22.2 $14.03 10.0 $ 9.54
Granted................ 6.4 $20.93 6.4 $30.54 2.2 $18.28
Exercised.............. (3.2) $10.13 (.2) $16.01 (1.2) $ 8.06
Forfeited.............. (.8) $11.72 (.2) $13.79 (.4) $10.64
--------------- ------------- ---------------
Balance as of
December 31, 1997...... 15.8 $14.53 28.2 $17.78 10.6 $11.41
Granted................ 8.6 $33.13 1.5 $38.59 2.8 $26.28
Exercised.............. (2.2) $10.59 (1.4) $14.91 (.9) $ 8.91
Forfeited.............. (.8) $23.51 (.1) $17.31 (.2) $13.14
--------------- ------------- ---------------
Balance as of
December 31, 1998...... 21.4 $22.00 28.2 $19.04 12.3 $14.92
Granted................ 4.3 $31.70 4.8 $45.23 2.0 $30.18
Exercised.............. (2.4) $13.26 (2.2) $34.61 (1.5) $ 9.51
Forfeited.............. (.6) $24.29 (.1) $15.85 (.3) $17.79
--------------- ------------- ---------------
Balance as of
December 31, 1999...... 22.7 $24.60 30.7 $23.30 12.5 $17.95
=============== ============= ===============
</TABLE>
F-40
<PAGE>
Information about options outstanding and exercisable at December 31, 1999
follows:
<TABLE>
<CAPTION>
Options Outstanding Options Exercisable
--------------------------------------------------- -------------------------------------
Weighted
Average Weighted Weighted
Range of Number Remaining Average Number Average
Exercise Outstanding Contractual Exercise Exercisable Exercise
Prices (In Millions) Life (Years) Price (In Millions) Price
- -------------------- ------------------ ---------------- --------------- ------------------ ----------------
Holding
Company
- --------------------
<S> <C> <C> <C> <C> <C> <C>
$ 9.06 -$13.88 5.6 4.2 $10.50 10.9 $18.98
$14.25 -$22.63 5.2 7.7 $20.95 - -
$25.32 -$34.59 8.2 8.7 $29.08 - -
$40.97 -$41.28 3.7 8.6 $41.28 - -
----------------- ------------------
$ 9.06 -$41.28 22.7 7.3 $24.60 10.9 $18.98
================= ================ =============== ================== ================
DLJ
- --------------------
$13.50 -$25.99 20.2 8.4 $14.61 20.6 $16.62
$26.00 -$38.99 4.9 7.8 $33.99 - -
$39.00 -$52.875 4.8 9.0 $43.28 - -
$53.00 -$76.875 .8 9.7 $57.09 - -
----------------- ------------------
$13.50 -$76.875 30.7 8.4 $23.30 20.6 $16.62
================= ================ =============== ================== ================
Alliance
- --------------------
$ 3.66 -$ 9.81 2.6 3.8 $ 8.31 2.2 $ 8.12
$ 9.88 -$12.56 3.3 5.6 $11.16 2.6 $10.92
$13.75 -$18.47 1.8 7.9 $18.34 .7 $18.34
$18.78 -$26.31 2.8 8.9 $26.16 .6 $26.06
$27.31 -$30.94 2.0 9.9 $30.24 - -
----------------- ------------------
$ 3.66 -$30.94 12.5 7.0 $17.95 6.1 $12.12
================= ================ =============== ================== ================
</TABLE>
F-41
<PAGE>
PART C
OTHER INFORMATION
-----------------
Item 24. Financial Statements and Exhibits
---------------------------------
(a) Financial Statements included in Part B.
1. Separate Account A:
-------------------
-Report of Independent Accountants; PricewaterhouseCoopers LLP
-Statements of Assets and Liabilities for the Year Ended
December 31, 1999;
-Statements of Operations for the Year Ended December 31, 1999;
-Statements of Changes in Net Assets for the Years Ended
December 31, 1999 and 1998;
-Notes to Financial Statements.
2. The Equitable Life Assurance Society of the United States:
----------------------------------------------------------
-Report of Independent Accountants; PricewaterhouseCoopers LLP
-Consolidated Balance Sheets as of December 31, 1999 and 1998;
-Consolidated Statements of Earnings for Years Ended
December 31, 1999, 1998 and 1997;
-Consolidated Statements of Equity for Years Ended
December 31, 1999, 1998 and 1997;
-Consolidated Statements of Cash Flows for Years Ended
December 31, 1999, 1998 and 1997; and
-Notes to Consolidated Financial Statements.
(b) Exhibits.
The following exhibits are filed herewith:
1. (a) Resolutions of the Board of Directors of The Equitable Life
Assurance Society of the United States ("Equitable") authorizing
the establishment of the Registrant, previously filed with this
Registration Statement No. 333-19925 on January 17, 1997.
(b) Resolutions of the Board of Directors of Equitable dated October
16, 1986 authorizing the reorganization of Separate Accounts A,
C, D, E, J and K into one continuing separate account,
previously filed with this Registration Statement No. 333-19925
on January 17, 1997.
2. Not applicable.
3. Participation Agreement among EQ Advisors Trust, The Equitable Life
Assurance Society of the United States, Equitable Distributors,
Inc., and EQ Financial Consultants, Inc. (now AXA Advisors, LLC)
dated as of the 14th day of April, 1997, incorporated by reference
to the Registration Statement of EQ Advisors Trust (File No.
333-17217) on Form N-1A, filed August 28, 1997.
4. Forms of Variable Immediate Annuity contracts, previously
C-1
<PAGE>
filed with this Registration Statement No. 333-19925 on
January 17, 1997.
5. Form of application, previously filed with this
Registration Statement No. 333-19925 on January 17, 1997.
6. (a) Copy of the Restated Charter of Equitable, adopted August 6,
1992, previously filed with this Registration Statement No.
333-19925 on January 17, 1997.
(b) Copy of the Certificate of Amendment of the Restated Charter of
Equitable, adopted November 18, 1993, previously filed with this
Registration Statement No. 333-19925 on January 17, 1997.
(c) By-Laws of Equitable, as amended through July 22, 1992,
previously filed with this Registration Statement No. 333-19925
on January 17, 1997.
(d) By-Laws of Equitable, as amended November 21, 1996, previously
filed with this Registration Statement on Form N-4
(File No. 333-19925) on August 19, 1997.
(e) Copy of the Restated Charter of Equitable, as amended January 1,
1997, previously filed with this Registration Statement on Form
N-4 (File No. 333-19925) on August 19, 1997.
7. Not applicable.
8. Not applicable.
9. Opinion and Consent of Anthony A. Dreyspool, Esq., Vice President
and Associate General Counsel of Equitable, as to the legality of
the securities being registered, previously filed with this
Registration Statement on Form N-4 (File No. 333-19925) on August
19, 1997.
10. (a) Consent of PricewaterhouseCoopers LLP.
(b) Powers of Attorney.
11. Not applicable.
12. Not applicable.
13. Not applicable.
C-2
<PAGE>
POSITIONS AND
NAME AND PRINCIPAL OFFICES WITH
BUSINESS ADDRESS EQUITABLE
- ---------------- ---------
*Paul J. Flora Senior Vice President and Auditor
*Robert E. Garber Executive Vice President and
Chief Legal Officer
*James D. Goodwin Vice President
*Edward J. Hayes Senior Vice President
*Mark A. Hug Senior Vice President
Craig Junkens Senior Vice President
*Donald R. Kaplan Vice President and Chief Compliance
Officer and Associate General
Counsel
*Michael S. Martin Executive Vice President and Chief
Marketing Officer
*Richard J. Matteis Executive Vice President
*Peter D. Noris Executive Vice President and Chief
Investment Officer
*Brian S. O'Neil Executive Vice President
*Anthony C. Pasquale Senior Vice President
*Pauline Sherman Senior Vice President, Secretary
and Associate General Counsel
*Samuel B. Shlesinger Senior Vice President
*Richard V. Silver Senior Vice President and
General Counsel
*Jose Suquet Senior Executive Vice President and
Chief Distribution Officer
*Naomi J. Weinstein Vice President
*Gregory Wilcox Executive Vice President
*R. Lee Wilson Executive Vice President
*Maureen K. Wolfson Vice President
C-3
<PAGE>
Item 26. Persons Controlled by or Under Common Control with the Insurance
Company or Registrant.
Separate Account No. A of The Equitable Life Assurance Society of the
United States (the "Separate Account") is a separate account of Equitable.
Equitable, a New York stock life insurance company, is a wholly owned subsidiary
of AXA Financial, Inc. (the "Holding Company"), a publicly traded company.
The largest stockholder of the Holding Company is AXA which as of
December 31, 1999 beneficially owned 58.0% of the Holding Company's outstanding
common stock. AXA is able to exercise significant influence over the operations
and capital structure of the Holding Company and its subsidiaries, including
Equitable. AXA, a French company, is the holding company for an international
group of insurance and related financial services companies.
C-4
<PAGE>
ORGANIZATION CHART OF EQUITABLE'S AFFILIATES
AXA Financial, Inc. (formerly the Equitable Companies, Incorporated) (1991)
(Delaware)
Donaldson Lufkin & Jenrette, Inc. (1933) (Delaware) (38.31%)
(See Addendum B(1) for subsidiaries)
AXA Client Solutions, LLC (1999) (Delaware)
AXA Distribution Holding Corporation (1999) (Delaware)
AXA Advisors, LLC (formerly EQ Financial Consultants, Inc. (1971)
Delaware)(a)(b)
The Equitable Life Assurance Society of the United States (1989)
(New York)(a)(b)
The Equitable of Colorado, Inc. (l983) (Colorado)
EVLICO East Ridge, Inc. (1995) (California)
GP/EQ Southwest, Inc. (1995) (Texas)
Franconom, Inc. (1985) (Pennsylvania) (50.00%)
Frontier Trust Company (1987) (North Dakota)
Gateway Center Buildings, Garage, and Apartment Hotel, Inc.
(inactive) (pre-l970) (Pennsylvania)
Equitable Deal Flow Fund, L.P.
Equitable Managed Assets (Delaware)
Real Estate Partnership Equities (various)
EREIM LP Associates (99%)
EML Associates, L.P. (19.8%)
Alliance Capital Management L.P. (2.7% limited partnership
interest)
ACMC, Inc. (1991) (Delaware)(s) (Note 5)
Alliance Capital Management L.P. (1988) (Delaware)
(38.6% limited partnership interest)
EVSA, Inc. (1992) (Pennsylvania)
Prime Property Funding, Inc. (1993) (Delaware)
Wil Gro, Inc. (1992) (Pennsylvania)
Equitable Underwriting and Sales Agency (Bahamas) Limited (1993)
(Bahamas)
(a) Registered Broker/Dealer (b) Registered Investment Advisor
i
<PAGE>
AXA Financial, Inc. (cont.)
Donaldson Lufkin & Jenrette, Inc. (cont.)
AXA Client Solutions, LLC (cont.)
AXA Distribution Holding Corp. (cont.)
Equitable Life Assurance Society of the United States (cont.)
Fox Run, Inc. (1994) (Massachusetts)
STCS, Inc. (1992) (Delaware)
CCMI Corporation (1994) (Maryland)
HVM Corporation (199 ) (Maryland)
EVSA Incorporated ( ) (Delaware)
FTM Corporation (1994) (Maryland)
Equitable BJVS, Inc. (1992) (California)
Equitable Rowes Wharf, Inc. (1995) (Massachusetts)
ELAS Realty, Inc. (1996) (Delaware)
ELAS Realty, Inc. (Georgia)
Equitable Structured Settlement Corporation (1996) (Delaware)
Prime Property Funding II, Inc. (1997) (Delaware)
Sarasota Prime Hotels, Inc. (1997) (Florida)
ECLL, Inc. (1997) (Michigan)
Equitable Holdings LLC (1997) (New York) (into which Equitable
Holding Corporation was merged in 1997)
ELAS Securities Acquisition Corp. (l980) (Delaware)
100 Federal Street Realty Corporation ( ) (Massachusetts)
100 Federal Street Funding Corporation (Massachusetts)
EquiSource of New York, Inc. (1986) (New York) (See
Addendum A for subsidiaries)
Equitable Casualty Insurance Company (l986) (Vermont)
EREIM LP Corp. (1986) (Delaware)
EREIM LP Associates (L.P.) (1%)
EML Associates (L.P.) (.02%)
(a) Registered Broker/Dealer (b) Registered Investment Advisor
ii
<PAGE>
AXA Financial, Inc. (cont.)
Donaldson Lufkin & Jenrette, Inc. (cont.)
AXA Client Solutions, LLC (cont.)
AXA Distribution Holding Corp. (cont.)
The Equitable Life Assurance Society of the United States (cont.)
Equitable Holdings, LLC (cont.)
Equitable JVS, Inc. (1988) (Delaware)
Astor/Broadway Acquisition Corp. (1990) (New York)
Astor Times Square Corp. (1990) (New York)
PC Landmark, Inc. (1990) (Texas)
Equitable JVS II, Inc. (1994) (Maryland)
EJSVS, Inc. (1995) (New Jersey)
Donaldson, Lufkin & Jenrette, Inc. (1985 by EIC; 1993 by EQ and
EHC) (Delaware) (31.47%) (See Addendum B(1) for
subsidiaries)
JMR Realty Services, Inc. (1994) (Delaware)
Equitable Investment Corporation (l97l) (New York)
Stelas North Carolina Limited Partnership (50% limited
partnership interest) (l984)
Equitable JV Holding Corporation (1989) (Delaware)
Alliance Capital Management Corporation (l991) (Delaware) (b)
(See Addendum B(2) for subsidiaries)
Equitable Capital Management Corporation (l985)
(Delaware) (b)
Equitable Capital Private Income and Equity
Partnership II, L.P. (Delaware)
EQ Services, Inc. (1992) (Delaware)
EREIM Managers Corp. (1986) (Delaware)
ML/EQ Real Estate Portfolio, L.P. (Delaware)
EML Associates, L.P. (New York)
(a) Registered Broker/Dealer (b) Registered Investment
Advisor
iii
<PAGE>
ORGANIZATION CHART OF EQUITABLE'S AFFILIATES
ADDENDUM A - SUBSIDIARY
OF EQUITABLE HOLDINGS, LLC
HAVING MORE THAN FIVE SUBSIDIARIES
-------------------------------------------------------
EquiSource of New York, Inc. (formerly Traditional Equinet Business Corporation
of New York) has the following subsidiaries that are brokerage companies to
make available to Equitable Agents within each state traditional (non-equity)
products and services not manufactured by Equitable:
EquiSource of Alabama, Inc. (1986) (Alabama)
EquiSource of Arizona, Inc. (1986) (Arizona)
EquiSource of Arkansas, Inc. (1987) (Arkansas)
EquiSource Insurance Agency of California, Inc. (1987) (California)
EquiSource of Colorado, Inc. (1986) (Colorado)
EquiSource of Delaware, Inc. (1986) (Delaware)
EquiSource of Hawaii, Inc. (1987) (Hawaii)
EquiSource of Maine, Inc. (1987) (Maine)
EquiSource Insurance Agency of Massachusetts, Inc. (1988)
(Massachusetts)
EquiSource of Montana, Inc. (1986) (Montana)
EquiSource of Nevada, Inc. (1986) (Nevada)
EquiSource of New Mexico, Inc. (1987) (New Mexico)
EquiSource of Pennsylvania, Inc. (1986) (Pennsylvania)
EquiSource of Puerto Rico, Inc. (1997) (Puerto Rico)
EquiSource Insurance Agency of Utah, Inc. (1986) (Utah)
EquiSource of Washington, Inc. (1987) (Washington)
EquiSource of Wyoming, Inc. (1986) (Wyoming)
iv
<PAGE>
ORGANIZATION CHART OF EQUITABLE'S AFFILIATES
ADDENDUM B - INVESTMENT SUBSIDIARIES
HAVING MORE THAN FIVE SUBSIDIARIES
------------------------------------
Donaldson, Lufkin & Jenrette, Inc. has the following subsidiaries, and
approximately 150 other subsidiaries, most of which are special
purpose\subsidiaries (the number fluctuates according to business needs):
Donaldson, Lufkin & Jenrette, Securities Corporation (1985)
(Delaware) (a) (b)
Wood, Struthers & Winthrop Management Corp. (1985)
(Delaware) (b)
Autranet, Inc. (1985) (Delaware) (a)
DLJ Real Estate, Inc.
DLJ Capital Corporation (b)
DLJ Mortgage Capital, Inc. (1988) (Delaware)
Alliance Capital Management Corporation (as general partner) (b) has the
following subsidiaries:
Alliance Capital Management L.P. (1988) (Delaware) (b)
Albion Alliance LLC (Delaware) (37.6%)
Cursitor Alliance LLC (Delaware) (93%)
Cursitor Alliance Holdings Ltd. (U.K.)
Draycott Partners, Ltd (MA)
Cursitor Alliance Services Ltd. (U.K.)
Cursitor Management Co. S.A. (Lux.)
Alliance Asset Allocation Ltd. (U.K.)
Cursitor Eaton Asset Allocation Management Co. (NY) (50%)
Alliance Cecogest S.A. (France) (75%)
Cursitor Courtage SARL (France)
Cursitor Gestion S.A. (France)
Alliance Capital Management Corporation of Delaware (Delaware) (100%)
Alliance Fund Services, Inc. (Delaware) (a)
Alliance Fund Distributors, Inc. (Delaware) (a)
Alliance Capital Oceanic Corp. (Delaware)
Alliance Capital Management (Brazil) Ltd. (Brazil) (99%)
Alliance Capital Management Australia Limited (Australia)
Meiji - Alliance Capital Corp. (Delaware) (50%)
Alliance Capital (Luxembourg) S.A. (Lux.) (99%)
Alliance Barra Research Institute, Inc. (Delaware)
Alliance Capital Management Canada, Inc. (Delaware)
Alliance Capital Global Derivatives Corp. (Delaware)
ACM Fund Services, S.A. (Lux.) (99%)
ACM Fund Services (Espana) S.L. (Spain)
Alliance Capital Management (Singapore) Ltd. (Singapore)
ACM CIIC Investment Management Ltd. (Cayman Islands) (54%)
ACM Software Services Ltd. (Delaware)
East Fund Managementberatung GmbH. (Australia) (51%)
Albion Alliance EFM (Czech) (49%)
East Fund Management (Cyprus) Ltd. (Cyprus) (99%)
EFM Consultanta Financiara Bucuresti SRL (Romania)
Alliance Capital (Mauritius) Private Ltd. (Mauritius)
Alliance Capital Asset Management (India) Private Ltd.
(India) (75%)
ACSYS Software India Private Ltd. (India) (51%)
ACAM Trust Company Private Ltd. (India)
Alliance Eastern Europe, Inc. (Delaware)
Alliance Capital Management (Asia) Ltd. (Delware)
Alliance Capital Management (Turkey) Ltd. (Turkey)
Alliance Capital Mangement (Japan) Inc. 1261 (Delaware)
Alliance Capital Invest Tr. Mgmt. K.K. (Japan)
Alliance Capital Limited (U.K)
Alliance Capital Services Ltd. (U.K.)
Dimentional Trust Management Ltd. (U.K)
Alliance Corporate Finance Group Inc. (Delaware)
BCN Alliance Capital Management SA (Brazil) (50%)
Przymierze Trust Fund Co. (Poland) (49%)
Alliance SBS-AGRO Captial Management Co. (Russia) (49%)
Pekao/Alliance PTE S.A. (Poland) (49%)
Whittingdale Holdings Ltd. (U.K.)
Alliance Capital Whittingdale Ltd. (U.K)
ACM Investments Ltd. (U.K.)
Whittingdale Nominees Ltd. (U.K.)
Hanwha Investment Trust Mgmt. Co., Ltd. (South Korea) (20%)
New Alliance Asset Mangement (Asia) Ltd. (H.K.) (50%)
ACM New-Alliance (Luxemborg) S.A. (Lux.)
Alliance Odyssey Capital Mgmt. (Porprietary) Ltd. (South Africa) (80%)
Alliance-MBCA Capital (Private) Ltd. (Zimbabwe) (50%)
Alliance Odyssey Capital Mgmt. (Nambia) (Proprietary) Ltd. (Nambia)
(a) Registered Broker/Dealer (b) Registered Investment Advisor
v
<PAGE>
AXA GROUP CHART
The information listed below is dated as of January 1, 2000; percentages
shown represent voting power. The name of the owner is noted when AXA
indirectly controls the company.
AXA INSURANCE AND REINSURANCE
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
AXA Assurances IARD France 100% by AXA France Assurance
AXA Assurances Vie France 6.48% by AXA Assurances IARD,
82.40% by AXA France Assurance
and 11.13% by AXA Collectives
AXA Courtage IARD France 99.77% by AXA France Assurance
AXA Conseil Vie France 100% by AXA France Assurance
AXA Conseil IARD France 100% by AXA France Assurance
Direct Assurances Vie France 100% by AXA Direct
Juridica France 7.81% by AXA Assurance IARD,
89.27% by AXA France Assurance
1.44% by AXA Courtage IARD
AXA Assistance France 100% by AXA
AXA Collectives France 94.47% by AXA France Assurance,
3.69% by AXA Assurances IARD
and 1.25% by AXA Courtage IARD
NSM Vie France 40.64% by AXA France Assurance
AXA Global Risks France 98.49% by AXA France
Assurance
Argovie France 94.03% by AXA Collectives
S.P.S. Re France 69.03% by AXA Reassurance
vi
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
Direct Assurance France 100% by AXA Direct
Natio Assurances France 50% by AXA Assurances IARD
AXA Assistance France 100% by AXA
AXA Reassurance France 86.33% by AXA, 8.25% by AXA
Assurances IARD, 5.07% by
AXA Global Risks, 0.13% by
AXA France Assurances and
0.02% by AXA Collectives
AXA Re Finance France 79% owned by AXA Reassurance
AXA Cessions France 100% by AXA
UAB Belgium 100% by AXA Holdings Belgium
Ardenne Prevoyante Belgium 99.99% by AXA Holdings Belgium
and 0.01% by AXA Royale Belge
Assurance Courtraisienne Belgium 100% by AXA Holdings Belgium
AXA Royale Belge Belgium 99.57% by AXA Holdings Belgium
and 0.43% by UAB
Assurances de la Poste Belgium 50% by AXA Holdings Belgium
Assurances de la Poste Vie Belgium 50% by AXA Holdings Belgium
C.G.R.M. Monte Carlo France 99.99% by AXA Reassurance
AXA Assurance Vie Luxembourg Luxembourg 100% by AXA Luxembourg S.A.
Paneurore Luxembourg 5% by AXA Portugal Companhia de
Seguros, 20% by AXA Colonia
Versicherungs, 5% by AXA
Assicurazioni, 10% by Aurora
Iberica SA de Seguros y Reas,
20% by AXA Insurance IK,
20% by Royale Belge
Investissement and
20% by Saint George Re
Crealux Luxembourg 100% by AXA Holdings Belgium
Futur Re Luxembourg 100% by AXA Global Risks
AXA Assurances Luxembourg Luxembourg 100% by AXA Luxembourg SA
Hilo Direct Seguros y Reaseguros Spain 71.43% by AXA Aurora
Ayuda Legal SA de Seguros y Spain 88% by AXA Aurora Iberica SA de
Reaseguros Seguros y Reaseguros and 12% by
AXA Seguros de Seguros
Reaseguros
Aurora Iberica SA de Spain 99.82% by AXA Aurora
Seguros y Reaseguros
AXA Seguros de Seguros y Spain 1.45% by AXA and 97.06% by
Reasegiros Aurora Iberica SA de Seguros y
Reas
Eurovita Italy 30% owned by AXA Assicurazioni
UAP Vita Italy 62.21% by AXA, 18.70% by AXA
Conseil Vie, and 19.08% by AXA
Collectives
AXA Interlife Italy 100% by AXA
AXA Assicurazioni Italy 84.10% by AXA, 11.70% by
Grupo UAP Italiana, 2.11% by
AXA Conseil Vie and 2.07%%
by AXA Collectives
AXA Equity & Law Plc U.K. 100% by AXA Sun Life
Assurance Society
AXA Global Risks (U.K) Ltd U.K. 100% by AXA Global Risks
(France)
English & Scottish U.K. 100% by AXA UK
AXA UK U.K. 100% by AXA
AXA Sun Life U.K. 100% by Sun Life and Provincial
Holdings Plc
AXA UK Holding Ltd. U.K. 100% by AXA Reassurance
Guardian Insurance Ltd. U.K. 100% by Guardian Royal Exchange
Plc
GREA Assurance U.K. 100% by Guardian Royal
Exchange Plc
PPP Group Plc. U.K. 100% by Guardian Royal
Exchange Plc
PPP Healthcare Ltd. U.K. 100% by Guardian Royal
Exchange Plc
PPP Lifetimecare U.K. 100% by Guardian Royal
Exchange Plc
AXA Insurance UK U.K. 100% by Guardian Royal
Exxchange Plc
AXA Reinsurance UK Plc. U.K. 100% by AXA UK Holding Ltd.
AXA Sun Life Holdings Plc. U.K. 100% by SLPH
AXA Nederland BV The Nether- 51.31% AXA Royal Belge, 38.94%
lands by Gelderland and 4.11% by
AXA Holdings Belgium
AXA Schade The Nether- 100% by AXA Verzekeringen
lands
AXA Zorg NV The Nether- 100% by UAP Verzekeringen
lands
Vinci BV The Nether- 100% by AXA
lands
AXA Leven NV The Nether- 100% by AXA Verzekeringen
lands
UAP Niew Rotterdam Beheer The Nether- 100% by AXA Nederland BV
lands
AXA Zorg NV The Nether- 100% by AXA Verzekeringen
lands
AXA Portugal Companhia de Portugal 9.63% by AXA Global Risk, 2.28%
Serguros by AXA Portugal Seguros
Vida, 5.71% by AXA Conseil Vie
and 81.93% by AXA
Participations
AXA Portugal Seguros Vida Portugal 87.63% by AXA Conseil Vie and
7.46% by AXA Participations
AXA Compagnie d' Assurances Switzerland 99.95% AXA Participations
AXA Compagnie d' Assurances Switzerland 94.99% by AXA Participations
sur la Vie and 5.01% by AXA Compagnie
d'Assurance.
AXA Al Amane Assurances Morocco 99.99% by AXA Ona
Epargne Croissance Morocco 99.59% by AXA Al Amane
Assurances
Compagnie Africaine Morocco 100% by AXA Al Almane
d'Assurance Assurances
AXA Canada Canada 100% by AXA
AXA Canada ADP Canada 100% by AXA Canada
AXA Colonia Krankenversicherung Germany 51% by AXA Colonia Konzern AG
and 48.36% by AXA Colonia Leben
Colonia Nordstern Versicherungs Germany 100% by AXA Colonia Konzern AG
Sicher Direct Germany 50% by AXA Colonia Konzern AG
and 50% by AXA Direct
Albingia Versicherung Germany 98.98% by GRE Continental
Europe Holding Gmbh
Albingia Lebenversicherung Germany 100% by Albingia Versicherung
AXA Colonia Leben Germany 50% by AXA Colonia Konzern AG
and 50% by AXA Colonia
Versicherung
AXA Colonia Versicherung Germany 100% by AXA Colonia Konzern AG
AXA Norstern Art Germany 100% by AXA Colonia Konzern AG
Tellit Vie Germany 100% by AXA-Colonia Konzern
AG
National Mutual Financial Australia 100% by National Mutual
Services Holdings
AXA Oyak Hayat Sigorta Turkey 100% by AXA Oyak Holding AS
AXA Oyak Sigorta Turkey 0.70% by AXA Oyak Hayat
Sigorta and 70.32% by AXA
Oyak Holding AS
AXA Minmerals Assurance Co. Ltd. China 51% by AXA China
vii
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
AXA Non Life Insurance Co. Ltd. Japan 100% by AXA Direct
AXA Life Insurance Japan 100% by AXA
Dongbu AXA Life South Korea 100% by AXA
AXA Insurance Investment Singapore 100% by AXA
Holdings
AXA Insurance Singapore Singapore 100% by AXA Insurance
Investment Holding
AXA Life Singapore Singapore 100% by National Mutual
International
GRE Singapore Branch Singapore 100% by AXA
AXA Life Hong Kong Singapore 100% by AXA
AXA Insurance Hong Kong Hong Kong 82.5% by AXA Insurance
Investment Holdings Pte Ltd
and 17.5% by AXA
National Mutual Asia Ltd. Hong Kong 53.8% by National Mutual
Holdings, Ltd and 20% by Detura
AXA China Region Ltd. Hong Kong 73.55% by National Mutual
Holdings
Guardian Insurance Ltd. Hong Kong 100% by AXA
Hong Kong
The Equitable Life Assurance U.S.A. 100% by AXA Financial Inc.
Society of the United States
(ELAS)
AXA Reinsurance U.S.A. 100% by AXA America
AXA America U.S.A. 100% by AXA Reassurance
AXA Global Risks US U.S.A. 96.39% by AXA Global Risks and
3.61% by Colonia Nordstern
Versicherungs AG
AXA Re Life Insurance Company U.S.A. 100% by AXA America
National Mutual Holdings Australia 42.1% by AXA and 8.9% by
AXA Equity & Law Life
Assurance Society
National Mutual International Australia 100% by National Mutual
Holdings Ltd
Australian Casualty Insurance Australia 100% by National Mutual
Property Ltd Holdings
National Mutual Health Australia 100% by National Mutual
Insurance Pty Ltd Holdings Ltd
Guardian Dublin Docks Ireland 100% by Guardian PMPA Group
Ltd.
Guardian PMPA Group Ltd. Ireland 100 by Guardian Royal
Exchange Plc
Detura Hong Kong 75% by National Mutual Holdings
AXA Insurance Singapore Singapore 100% by AXA Insurance
Investment Holdings
AXA Reinsurance Asia Singapore 100% by AXA Reassurance
viii
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
AXA Reinsurance U.K. Plc. U.K. 100% owned by AXA U.K.
Holding Ltd.
Nordstern Colonia Versicherung Austria 89.95% by AXA Colonia
Versicherungs
and 10.05% by Colonia Leben
ix
<PAGE>
FINANCIAL SERVICES AND REAL ESTATE
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
Compagnie Financiere de Paris France 96.89% by AXa 0.27% by AXA
(C.F.P.) Assurance IARD and 0.01% by
Societe Beaujon
AXA Banque France 98.7% by Compagnie
Financiere de Paris
AXA Credit France 65% by Compagnie
Financiere de Paris
Sofapi France 100% by Compagnie
Financiere de Paris
Holding Soffim France 100% by Compagnie
Financiere de Paris
Sofinad France 100% by Compagnie
Financiere de Paris
Banque des Tuileries France 100% by Compagnie
Financiere de Paris
Banque de Marches et d'Arbitrage France 19.51% by AXA and 8.2% by AXA
Courtage IARD
AXA Investment Managers France 5.28% by AXA Royale Belge,
56.48 BY AXA, 1.02% by AXA
Reassurance, 19.46% by AXA
Assurance IARD, 5.12% by AXA
Colonia Konzern and 0.25% By
Direct Assurances, 2.63% by
AXA Leven NV, 5.10% by National
Fund Management, 2.03% by AXA
Courtege IARD
Banque Worms France 1.91% by AXA France Assurance,
5.32% by AXA Collectives, 6.30%
by AXA Courtage IARD, 3.06% by
AXA Conseil Vie, 10.72% by AXA
Assurances IARD, 21.63% by AXA
Assurance Vie, 49.56% by
Compagnie Financiere de Paris
Investment Managers Paris France 100% by AXA Investment Managers
Transaxim France 100% by Compagnie Financiere
de Participations
AXA Millesimes 10.10% by AXA Reassurance,
11.95% by AXA Reassurance,
7.26% by Societe Beaujon,
6.87% by Jour Finance
AXA Colonia Asset Management Germany 51% by AXA Investment
Managers and 49% by AXA
Colonia Konzern AG
AXA Colonia KAG Germany 51% by AXA Investment
Managers and 26.50% by AXA
Colonia Konzern AG
AXA Colonia Bausparkasse AG Germany 66.67% by AXA Colonia
Konzern AG and 32.99% by
AXA Colonia Leben
Banque IPPA Belgium 100% by AXA Holdings Belgium
Royal Belge Investissement Belgium 100% by AXA Royale Belge
AXA IM Bruxelles Belgium 100% by AXA Investment
Managers
AXA Banque Belgium Belgium 100% by AXA Holdings Belgium
Royale Belge Investissement Belgium 100% by AXA Royale Belge
Sun Life Asset Management U.K. 66.67% by Sun Life and
Provincial Holdings Plc and
33.33% by AXA Asset Management
Ltd.
x
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
Alliance Capital Management Corp. U.S.A. 100% held by The Equitable
Life Assurance Society
Donaldson Lufkin & Jenrette U.S.A. 0.13% by AXA, 31.44% by
the ELAS, 38.27% by AXA
Financial Inc. and 1.31%
by AXA Participations Belgium
AXA IM Holdings Inc. U.S.A. 100% by AXA Investment
Managers
AXA IM Rose U.S.A. 90% by AXA Investment
Managers and 10% by AXA IM
Holdings Inc.
AXA Rosenberg LLC U.S.A. 50% by AXA IM Rose
National Mutual Funds Australia 100% owned by National
Management Mutual Holdings
AXA Investment Managers Japan 100% by AXA Investment
Tokyo Managers
AXA Investment Managers The Nether- 100% by AXA Investment
Den Haag lands Managers
AXA IM HK SAR Hong Kong 100% by AXA Investment
Managers
AXA Investment Managers Hong Kong 100% by AXA Investment
Hong Kong Managers
xi
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
S.G.C.I. France 100% by AXA
Compagnie Parisienne de France 100% by Sofinad
Participations (C.P.P.)
Monte Scopeto France 99.99% by Compagnie
Parisienne de Participations
Colisee Jeuneurs France 99.82% by Colisee Suresnes and
0.17% by Compagnie Parislenne
de Participation
Colisee Delcasse France 99.98% by Colisee Suresnes
Colisee Victoire France 99.74% by S.G.C.I.
Colisee Suresnes France 21.19% by AXA Assurance IARD,
0.92% by Societe Beaujon,
51.07% by Compagnie Financiere
de Paris, 20.63% by Jour
Finance and 2.53% by AXA
Courtage IARD
Colisee 21 Matignon France 99.44% by S.G.C.I. and 0.55% by
AXA
xii
<PAGE>
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
Colisee Saint Georges SA France 100% by SGCI
xiii
<PAGE>
HOLDINGS AND MISCELLANEOUS BUSINESS
COMPANY COUNTRY VOTING POWER
- ------- ------- ------------
AXA Direct France 100% by AXA
Societe Beaujon France 100% by AXA
Lor Finance France 99.87% by AXA
Jour Finance France 60.47% by AXA Conseil Vie,
39.53% by AXA Assurance IARD
Financiere 45 France 100% by AXA
Mofipar France 99.92% by AXA
AXA Participations France 53.15% by AXA, 21.90% by AXA
Global Risks and 24.95% by AXA
Courtage IARD
Colisee Excellence France 100% by Financiere Mermoz
Financiere Mermoz France 100% by AXA
AXA France Assurance France 100% by AXA
AXA China France 49% by AXA Region Limited
and 51% by AXA
AXA Participations Belgium Belgium 17.65% by AXA Global Risks,
75% by AXA, 1.82% by AXA
Conseil IARD and 5.53% by AXA
Courtage IARD
Finaxa Belgium Belgium 99.99% by AXA
AXA Holdings Belgium Belgium 43.75% by AXA, 3.02% by AXA
Global Risks, 49.10% by AXA
Participations Belgium and
4.11% by Vinci BV
GRE Continental Europe Germany 100% by AXA Cononia Konzern AG
Holding Gmbh
AXA-Colonia Konzern AG Germany 39.73% by Vinci BV, 25.63% by
Kolnische Verwaltungs and
21.62% by AXA
Kolnische Verwaltungs Germany 67.72% by Vinci BV, 22.99% by
AXA Colonia Konzern AG and
8.83% by AXA
AXA Luxembourg SA Luxembourg 100% by AXA Holdings Belgium
AXA Ona Morocco 51% by AXA Participations
Gelderland The Nether- 100% by AXA Holdings Belgium
lands
AXA Oyak Holdings AS Turkey 50% by AXA
AXA Financial Inc. U.S.A. 4.12% by AXA Equity & Law
Life Assurance Society, 43.01
by AXA, 2.97% by AXA
Reassurance, 0.03% by AXA
America, 0.44% by Societe
Beaujon, 3.21% by Fianciere 45
and 6.46% by LOR Finance
AXA Aurora Spain 30% owned by AXA and 40% by
AXA Participations
AXA Equity & Law Plc U.K. 99.94 by AXA Life
Sun Life and Provincial U.K. 34.52% by AXA and 21.81% by
Holdings (SLPH) AXA Equity & Law Plc
xiv
<PAGE>
ORGANIZATION CHART OF EQUITABLE'S AFFILIATES
NOTES
-----
1. The year of formation or acquisition and state or country of incorporation
of each affiliate is shown.
2. The chart omits certain relatively inactive special purpose real estate
subsidiaries, partnerships, and joint ventures formed to operate or
develop a single real estate property or a group of related properties,
and certain inactive name-holding corporations.
3. All ownership interests on the chart are 100% common stock ownership
except: (a) AXA Financial, Inc.'s 38.6% interest in Donaldson, Lufkin &
Jenrette, Inc., and Equitable Holdings, LLC's 31.7% interest in same; (b)
as noted for certain partnership interests; (c) Equitable Life's ACMC,
Inc.'s and Equitable Capital Management Corporation's limited partnership
interests in Alliance Capital Management L.P.; and (d) as noted for certain
subsidiaries of Alliance Capital Management Corp. of Delaware, Inc.
4. The following entities are not included in this chart because, while they
have an affiliation with The Equitable, their relationship is not the
ongoing equity-based form of control and ownership that is characteristic
of the affiliations on the chart, and, in the case of the first entity, it
is under the direction of at least a majority of "outside" trustees:
EQ Advisors Trust
Separate Accounts
5. This chart was last revised on January 1, 2000.
xv
<PAGE>
Item 27. Number of Contractowners
------------------------
Currently, there are 1,020 owners of the Variable Immediate Annuity
Contracts offered by the Registrant.
Item 28. Indemnification
(a) Indemnification of Directors and Officers
The By-Laws of The Equitable Life Assurance Society of the United
States ("Equitable Life") provide, in Article VII, as follows:
7.4 Indemnification of Directors, Officers and Employees. (a) To the
extent permitted by the law of the State of New York and subject
to all applicable requirements thereof:
(i) any person made or threatened to be made a party to any
action or proceeding, whether civil or criminal, by reason
of the fact that he or she, or his or her testator or
intestate, is or was a director, officer or employee of
the Company shall be indemnified by the Company;
(ii) any person made or threatened to be made a party to any
action or proceeding, whether civil or criminal, by reason
of the fact that he or she, or his or her testator or
intestate serves or served any other organization in any
capacity at the request of the Company may be indemnified
by the Company; and
(iii) the related expenses of any such person in any of said
categories may be advanced by the Company.
(b) To the extent permitted by the law of the State of New
York, the Company may provide for further
indemnification or advancement of expenses by
resolution of shareholders of the Company or the Board
of Directors, by amendment of these By-Laws, or by
agreement. (Business Corporation Law ss. 721-726;
Insurance Law ss. 1216)
The directors and officers of Equitable Life are insured under
policies issued by Lloyd's of London, X.L. Insurance Company and ACE Insurance
Company. The annual limit on such policies is $100 million, and the policies
insure officers and directors against certain liabilities arising out of
their conduct in such capacities.
(b) Indemnification of Principal Underwriter
To the extent permitted by law of the State of New York and subject to
all applicable requirements thereof, AXA Advisors, LLC has undertaken
to indemnify each of its directors and officers who is made or threatened to be
made a party to any action or proceeding, whether civil or criminal, by reason
of the fact the director or officer, or his or her testator or intestate, is or
was a director or officer of AXA Advisors, LLC.
(c) Undertaking
Insofar as indemnification for liability arising under the Securities
Act of 1933 ("Act") may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
Item 29. Principal Underwriters
----------------------
(a) AXA Advisors is the principal underwriter for
Separate Account A, Separate Account No. 301, Separate Account
No. 45, Separate Account I, Separate Account FP and EQ Advisors
Trust, AXA Advisors's principal business address is 1290 Avenue
of the Americas, NY, NY 10104.
(b) Set forth below is certain information regarding the directors
and principal officers of AXA Advisors. The business address of
the persons whose names are preceded by an asterisk is the
address of AXA Advisors, LLC.
C-5
<PAGE>
NAME AND PRINCIPAL POSITIONS AND OFFICES WITH UNDERWRITER
BUSINESS ADDRESS (EQUITABLE DISTRIBUTORS, INC.)
- ---------------- ----------------------
*Jose S. Suquet Chairman of the Board and Director
James A. Shepherdson, III Co-Chief Executive Officer, Co-President,
660 Newport Center Drive Managing Director, and Director
Suite 1200
Newport Beach, CA 92660
Greg Brakovich Co-Chief Executive Officer, Co-President,
660 Newport Center Drive Managing Director, and Director
Suite 1200
Newport Beach, CA 92660
Edward J. Hayes Director
200 Plaza Drive
Secaucus, NJ 07096-1583
*Charles Wilder Director
*Michael Dibbert President, Financial Institution Channel
*Alex MacGillwray President, Broker-Dealer Channel
*Patrick Muler President, Wirehouse Channel
*Van Rubiano President, Life Insurance Division
Hunter Allen Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
Elizabeth Forget Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
Al Haworth Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
Stuart Hutchins Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
Ken Jaffe Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
Michael McDaniel Senior Vice President
660 Newport Center Drive
Suite 1200
Newport Beach, CA 92660
*Patrick O'Shea Vice President and Chief
Financial Officer
*Norman J. Abrams Vice President and Counsel
Debora Buffington Vice President and Chief Compliance
660 Newport Center Drive Officer
Newport Beach, CA 92660
*Ronald R. Quist Vice President and Treasurer
*Linda Galasso Vice President and Secretary
*Francesca Divone Assistant Secretary
(c) Not applicable
C-6
<PAGE>
Item 30. Location of Accounts and Records
--------------------------------
The records required to be maintained by Section 31(a) of the
Investment Company Act of 1940 and Rules 31a-1 to 31a-3 thereunder are
maintained by Equitable at 1290 Avenue of the Americas, New York, NY, 10104,
135 West 50th Street, New York, NY 10020, and 200 Plaza Drive, Secaucus,
N.J. 07096.
Item 31. Management Services
-------------------
Not applicable.
Item 32. Undertakings
------------
The Registrant hereby undertakes:
(a) to file a post-effective amendment to this registration statement
as frequently as is necessary to ensure that the audited
financial statements in the registration statement are never more
than 16 months old for so long as payments under the variable
annuity contracts may be accepted;
(b) to include either (1) as part of any application to purchase a
contract offered by the prospectus, a space that an applicant can
check to request a Statement of Additional Information, or (2) a
postcard or similar written communication affixed to or included
in the prospectus that the applicant can remove to send for a
Statement of Additional Information;
(c) to deliver any Statement of Additional Information and any
financial statements required to be made available under this
Form promptly upon written or oral request.
Equitable represents that the fees and charges deducted under the
Contracts described in this Registration Statement, in the aggregate, are
reasonable in relation to the services rendered, the expenses to be incurred,
and the risks assumed by Equitable under the Contracts. Equitable bases its
representation on its assessment of all of the facts and circumstances,
including such relevant factors as: the nature and extent of such services,
expenses and risks, the need for Equitable to earn a profit, the degree to which
the Contracts include innovative features, and regulatory standards for the
grant of exemptive relief under the Investment Company Act of 1940 used prior to
October 1996, including the range of industry practice. This representation
applies to all contracts sold pursuant to this Registration Statement, including
those sold on the terms specifically described in the prospectuses contained
herein, or any variations therein, based on supplements, endorsements, data
pages, or riders to any contract, prospectus, or otherwise.
C-7
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Registrant certifies that it meets the requirements of
Securities Act Rule 485(b) for effectiveness of this amendment to the
Registration Statement, and has caused this amendment to the Registration
Statement to be signed on its behalf, in the City and State of New York, on this
26th day of April, 2000.
SEPARATE ACCOUNT A OF
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Registrant)
By: The Equitable Life Assurance Society
of the United States
By: /s/ Naomi J. Weinstein
----------------------------
Naomi J. Weinstein
Vice President
C-8
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Depositor has duly caused this amendment to the Registration
Statement to be signed on its behalf, in the City and State of New York, on this
26th day of April, 2000.
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Depositor)
By: /s/ Naomi J. Weinstein
----------------------------
Naomi J. Weinstein
Vice President
As required by the Securities Act of 1933 this amendment to the
Registration Statement has been signed by the following persons in the
capacities and on the date indicated:
PRINCIPAL EXECUTIVE OFFICERS:
*Michael Hegarty President, Chief Operating Officer and Director
*Edward D. Miller President, Chief Executive Officer
and Director
PRINCIPAL FINANCIAL OFFICER:
*Stanley B. Tulin Senior Executive Vice President
and Chief Financial Officer
PRINCIPAL ACCOUNTING OFFICER:
*Alvin H. Fenichel Senior Vice President and Controller
*DIRECTORS:
Francoise Colloc'h Donald J. Greene George T. Lowy
Henri de Castries John T. Hartley Edward D. Miller
Joseph L. Dionne John H.F. Haskell, Jr. Didier Pineau-Valencienne
Denis Duverne Michael Hegarty George J. Sella, Jr.
Jean-Rene Fourtou Mary R. (Nina) Henderson Peter J. Tobin
Norman C. Francis W. Edwin Jarmain Stanley B. Tulin
Dave H. Williams
*By: /s/ Naomi J. Weinstein
----------------------
Naomi J. Weinstein
Attorney-in-Fact
April 26, 2000
C-9
<PAGE>
EXHIBIT INDEX
-------------
<TABLE>
<CAPTION>
Exhibit No. Tag Value
----------- ---------
<S> <C> <C>
10(a) Consent of PricewaterhouseCoopers LLP. EX-99.10a
10(b) Powers of Attorney. EX-99.10b
</TABLE>
38381
C-10
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the use in the Statement of Additional Information
constituting part of this Post-Effective Amendment No. 3 to the Registration
Statement No. 333-19925 on Form N-4 (the "Registration Statement"), of (1) our
report dated February 1, 2000 relating to the financial statements of Separate
Account A of The Equitable Life Assurance Society of the United States for the
year ended December 31, 1999, and (2) our report dated February 1, 2000 relating
to the consolidated financial statements of The Equitable Life Assurance Society
of the United States for the year ended December 31, 1999, which reports appear
in such Statement of Additional Information, and to the incorporation by
reference of our reports into the Prospectus which constitutes part of this
Registration Statement. We also consent to the references to us under the
headings "Custodian and Independent Accountants" in the Statement of Additional
Information.
/s/ PricewaterhouseCoopers LLP
- ------------------------------
PricewaterhouseCoopers LLP
New York, New York
April 25, 2000
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Francoise Colloc'h
----------------------------------
Francoise Colloc'h
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Norman C. Francis
----------------------------------
Norman C. Francis
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Michael Hegarty
----------------------------------
Michael Hegarty
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Edward Miller
----------------------------------
Edward Miller
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Denis Duverne
----------------------------------
Denis Duverne
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Donald J. Greene
----------------------------------
Donald J. Greene
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ George T. Lowy
----------------------------------
George T. Lowy
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Peter J. Tobin
----------------------------------
Peter J. Tobin
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Joseph L. Dionne
----------------------------------
Joseph L. Dionne
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ John T. Hartley
----------------------------------
John T. Hartley
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ John H.F. Haskell, Jr.
----------------------------------
John H.F. Haskell, Jr.
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
5th day of April, 2000.
/s/ Dave H. Williams
----------------------------------
Dave H. Williams
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Mary B. (Nina) Henderson
----------------------------------
Mary B. (Nina) Henderson
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
4th day of April, 2000.
/s/ George J. Sella, Jr.
----------------------------------
George J. Sella, Jr.
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ W. Edwin Jarmain
----------------------------------
W. Edwin Jarmain
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
13th day of April, 2000.
/s/ Alvin H. Fenichel
----------------------------------
Alvin H. Fenichel
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
13th day of April, 2000.
/s/ Jean-Rene Fourtou
----------------------------------
Jean-Rene Fourtou
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
23rd day of March, 2000.
/s/ Stanley B. Tulin
----------------------------------
Stanley B. Tulin
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
4th day of April, 2000.
/s/ Henri de Castries
----------------------------------
Henri de Castries
Rev. 2/2000
122055
<PAGE>
POWER OF ATTORNEY
-----------------
KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or
Director of The Equitable Life Assurance Society of the United States (the
"Company"), a New York stock life insurance company, hereby constitutes and
appoints R. Lee Wilson, Anne M. Katcher, Stuart L. Faust, Nik Malvania, Pauline
Sherman, Naomi J. Weinstein, Mary A. Hyland, Maureen K. Wolfson, Mildred Oliver,
Robin Wagner and each of them (with full power to each of them to act alone),
his or her true and lawful attorney-in-fact and agent, with full power of
substitution to each, for him or her and on his or her behalf and in his or her
name, place and stead, to execute and file any of the documents referred to
below relating to registrations under the Securities Act of 1933, the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 with respect to any
insurance or annuity contracts or other agreements providing for allocation of
amounts to Separate Accounts of the Company, and related units or interests in
Separate Accounts: registration statements on any form or forms under the
Securities Act of 1933 and the Investment Company Act of 1940 and annual reports
on any form or forms under the Securities Exchange Act of 1934, and any and all
amendments and supplements thereto, with all exhibits and all instruments
necessary or appropriate in connection therewith, each of said attorneys-in-fact
and agents and his, her or their substitutes being empowered to act with or
without the others, and to have full power and authority to do or cause to be
done in the name and on behalf of the undersigned each and every act and thing
requisite and necessary or appropriate with respect thereto to be done in and
about the premises in order to effectuate the same, as fully to all intents and
purposes as the undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, may do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this
10th day of April, 2000.
/s/ Didier Pineau Valencienne
----------------------------------
Didier Pineau Valencienne
Rev. 2/2000
122055
