JANUS RETIREMENT ADVANTAGE
VARIABLE ANNUITY ISSUED BY
WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO
WRL SERIES ANNUITY ACCOUNT B
SUPPLEMENT DATED JUNE 10, 1998
TO
PROSPECTUS DATED MAY 1, 1998
On or about June 10, 1998, Western Reserve Life Assurance Co. of Ohio
("Western Reserve") and several other applicants filed an application with the
Securities and Exchange Commission seeking an order to permit Western Reserve to
substitute shares of the Money Market Portfolio of the Janus Aspen Series (the
"Money Market Portfolio") for shares of the Short-Term Bond Portfolio of the
Janus Aspen Series (the "Short-Term Bond Portfolio") that are currently held by
a corresponding Sub-Account of the WRL Series Annuity Account B (the "Account")
under the Janus Retirement Advantage variable annuity contract (the "Contract").
To the extent required by law, Western Reserve will also obtain approvals of
this substitution from the state insurance regulators in various jurisdictions.
If the proposed substitution occurs, the Money Market Portfolio will
replace the Short-Term Bond Portfolio as an investment option under the Contract
as described in its May 1, 1998 prospectus.
The investment objective of the Money Market Portfolio is to seek
maximum current income consistent with stability of capital. An investment in
the Money Market Portfolio is neither insured nor guaranteed by the U.S.
Government. There is no assurance that the Money Market Portfolio will be able
to maintain a stable net asset value of $1.00 per share. Contract owners and
prospective purchasers should carefully read the prospectus for the Money Market
Portfolio. It was attached to the May 1, 1998 prospectus for the Contract that
was sent to owners around that date. Additional copies of the Portfolio's
prospectus are available from Western Reserve by calling 1-800-504-4440.
From the date of this Supplement (June 10, 1998) until 30 days after
the date of the proposed substitution, each Contract owner will have the ability
to make one transfer of all amounts he/she currently has invested in the
Short-Term Bond Sub-Account to one other Sub-Account available under the
Contract. That transfer will not count as one of the twelve free transfers
permitted in a Contract Year. Also, Western Reserve will not exercise any rights
it has reserved under the Contract to impose additional restrictions on
transfers until at least thirty (30) days after the proposed substitution.
If you have not transferred out of the Short-Term Bond Sub-Account by
the date of the substitution, your Contract Value invested in the Short-Term
Bond Sub-Account will be automatically transferred to the Sub-Account that
invests in the Money Market Portfolio. After the substitution, each Contract
owner affected by the substitution will be sent a written notice informing them
that the substitution was carried out. They will be remind that they have 30
days from the date of the substitution during which they may make one transfer
of all amounts involuntarily substituted into the Money Market Portfolio to
another Sub-Account without that transfer counting as one of the twelve free
transfers permitted in a Contract Year.
This supplement should be retained with the Prospectus for future
reference.
