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SUPPLEMENT DATED NOVEMBER 1, 2000
TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
PINNACLE FLEXIBLE PREMIUM VARIABLE ANNUITY
INTEGRITY LIFE INSURANCE COMPANY
THE LEGENDS FUND
At a Special Meeting of Shareholders of The Legends Fund, Inc. (the "Fund")
held on October 19, 2000, shareholders approved the termination of the existing
sub-advisory agreements for the Scudder Kemper Value Portfolio, Zweig Asset
Allocation Portfolio and Zweig Equity (Small Cap) Portfolio of the Fund (the
"Portfolio(s)"). Shareholders also approved new sub-advisory agreements for
these Portfolios between the Fund's investment adviser, Touchstone Advisors,
Inc., and three new sub-advisors (the "New Sub-Adviser(s)"). The new names of
each Portfolio and their respective New Sub-Advisers are as follows:
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PORTFOLIO NEW PORTFOLIO NAME NEW SUB-ADVISER
<S> <C> <C>
Scudder Kemper Value Portfolio Third Avenue Value Portfolio EQSF Advisers, Inc.
Zweig Asset Allocation Portfolio Gabelli Large Cap Value Portfolio Gabelli Asset Management Company
Zweig Equity Portfolio Baron Small Cap Portfolio BAMCO, Inc.
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With respect to the Third Avenue Value Portfolio, shareholders approved
changing the Portfolio's investment objective to eliminate a secondary objective
of seeking current income, in order to permit the New Sub-Adviser more
flexibility in pursuing its investment strategy. In addition, shareholders
approved changing the Third Avenue Value Portfolio's status as a diversified
investment company under the Investment Company Act of 1940, as amended (the
"1940 Act"), to that of a non-diversified investment company under the 1940 Act.
This generally means that the Portfolio will have fewer investments than
diversified mutual funds of comparable size. Non-diversified funds can be more
volatile than diversified funds because adverse business, economic, political or
regulatory developments affecting a single issuer may potentially have a greater
adverse impact on the fund's performance than if the fund's assets were invested
in a greater number of issuers.
No other changes to the Portfolios' fundamental policies were proposed.
However, each New Sub-Adviser intends to employ a principal investment strategy
that differs in certain respects from that previously employed for its
respective Portfolio. Please see the Fund's prospectus for additional
information on the Portfolios.
MORGAN STANLEY UIF ASIAN EQUITY PORTFOLIO
Effective November 1, 2000, at the request of Morgan Stanley Universal
Institutional Funds, Inc. (the "Morgan Stanley Fund"), the Morgan Stanley UIF
Asian Equity Portfolio will no longer accept contributions from new
contractholders or from contractholders who do not currently have assets
allocated to the Portfolio. Contractholders with assets allocated to the
Portfolio as of November 1, 2000 may continue to purchase or redeem units
investing in the Portfolio.
The Morgan Stanley Fund has indicated that, subject to regulatory approval,
it intends ultimately to terminate the Morgan Stanley UIF Asian Equity
Portfolio. Integrity Life Insurance Company will provide assistance in this
regard and will seek to substitute another investment option for this Portfolio.
A date for the termination and substitution has not yet been determined.
THIS SUPPLEMENT MODIFIES THE PROSPECTUS AND SHOULD BE READ AND RETAINED.
