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SUPPLEMENT DATED JULY 7, 2000
TO PROSPECTUS DATED MAY 1, 2000
PINNACLE FLEXIBLE PREMIUM VARIABLE ANNUITY
issued by
INTEGRITY LIFE INSURANCE COMPANY
THIS SUPPLEMENT PROVIDES INFORMATION REGARDING JANUS ASPEN STRATEGIC VALUE
PORTFOLIO-SERVICE SHARES, A NEW PORTFOLIO OF JANUS ASPEN SERIES THAT WILL BE
AVAILABLE UNDER THE CONTRACT BEGINNING JULY 10, 2000. THIS SUPPLEMENT ADDS THE
FOLLOWING INFORMATION TO THE PROSPECTUS UNDER THE HEADINGS INDICATED.
- "TABLE OF ANNUAL FEES AND EXPENSES" IN SECTION 1 - SUMMARY:
PORTFOLIO ANNUAL EXPENSES AFTER WAIVERS/REIMBURSEMENTS
(AS A PERCENTAGE OF AVERAGE NET ASSETS)
<TABLE>
<CAPTION>
Management Other Total Annual
Fees Expenses Expenses
----- -------- --------
<S> <C> <C> <C>
Janus Aspen Strategic Value Portfolio- 0.65% 0.60% 1.25%
Service Shares(1)
</TABLE>
(1) Expenses are based on the estimated expenses that the new Service Shares
Class of the Portfolio expects to incur in its initial fiscal year. "Other
Expenses" includes a 0.25% fee adopted by the Portfolio pursuant to a Rule 12b-1
Plan. All expenses are shown without the effect of any expense offset
arrangements.
- "EXAMPLES" IN SECTION 1 - SUMMARY:
The examples below show the expenses on a $1,000 investment, assuming a $60,000
average contract value and a 5% annual rate of return on assets.
CUMULATIVE EXPENSES PER $1,000 INVESTMENT IF YOU SURRENDER YOUR CONTRACT AT THE
END OF THE APPLICABLE PERIOD:
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
Janus Aspen Strategic Value Portfolio- $107.14 $143.21 $181.76 $299.70
Service Shares
</TABLE>
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CUMULATIVE EXPENSES PER $1,000 INVESTMENT IF YOU ELECT TO ANNUITIZE OR DO NOT
SURRENDER YOUR CONTRACT AT THE END OF THE SPECIFIED PERIOD (I.E., NO DEFERRED
SALES LOAD CHARGED):
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
Janus Aspen Strategic Value Portfolio- $27.14 $83.21 $141.76 $299.70
Service Shares
</TABLE>
These examples assume the current charges that are borne by Separate Account II
and the management fees and estimated expenses of the Portfolio. Actual expenses
may be greater or less than those on which these examples are based. The annual
rate of return assumed in the examples is not an estimate or guarantee of future
investment performance. The examples assume an estimated $60,000 average
Account Value, so that the administrative charge per $1,000 of net asset value
in Separate Account II is $0.50. The per $1,000 charge would be higher for
smaller Account Values and lower for higher values.
The above table and examples are shown to increase your understanding of the
various costs and expenses that apply to your contract directly or indirectly.
The examples reflect expenses of Separate Account II as well as those of the
Portfolio. Premium taxes at the time of payout may also be applicable.
- "JANUS ASPEN SERIES" IN SECTION 3 - YOUR INVESTMENT OPTIONS
Each portfolio of the Janus Aspen Series is a mutual fund registered with the
Securities and Exchange Commission. Janus Capital Corporation serves as the
investment adviser to the Janus Aspen Strategic Value Portfolio.
INVESTMENT OBJECTIVES OF THE PORTFOLIO. Below is a summary of the investment
goal of the Janus Aspen Strategic Value Portfolio. There is no guarantee that
the objective will be met. You should read the Portfolio's prospectus carefully
before investing.
JANUS ASPEN STRATEGIC VALUE PORTFOLIO
Janus Aspen Strategic Value Portfolio seeks long-term growth of capital. It is a
non-diversified portfolio that pursues its objective by investing primarily in
common stocks with the potential for long-term growth of capital using a "value"
approach. The value approach the portfolio manager uses emphasizes investments
in companies he believes are undervalued relative to their intrinsic worth.
