<PAGE> 1
The attached are incorporated by reference herein to the semi-annual reports
filed by and on behalf of the following:
Seligman Portfolios, Inc., filed August 29, 1997
Portfolios which include: Seligman Capital; Seligman Cash Management;
Seligman Common Stock; Seligman Bond; Seligman Income; Seligman
Henderson International; Seligman Communications and Information;
Seligman Frontier; Seligman Henderson Global Smaller Companies;
Seligman High-Yield Bond; Seligman Henderson Global Technology; and
Seligman Henderson Global Growth Opportunities
<PAGE> 2
August, 1997
Dear Trillium Policyholder:
Enclosed for your review is the Trillium Semi-Annual Report for the period
ending June 30, 1997. We encourage you to review this information and refer to
it as needed throughout the year.
In addition, and for your convenience, please use the "tear-off" below to make
additional deposits to your Trillium policy. For other information, please
contact your registered representative.
Sincerely,
D. Allen Loney
President
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Policyowner(s): __________________________ Policy Number: _______________
If you are changing allocation, please complete the following:
__________ This payment only
__________ This payment and all future payments
__________ Re-allocate all current assets
__________% Cash Mgmt (21) __________% Comm & Info (27)
__________% Income (22) __________% Global Grwth Ops (28)
__________% Bond (23) __________% Global Smlr Cos (29)
__________% Common Stock (24) __________% Frontier (41)
__________% Capital (25) __________% High Yld Bond (42)
__________% International (26) __________% Global Tech (43)
__________% Fixed Account
Total must equal 100%. Please make checks payable to Canada Life Insurance
Company of New York.
_____________________ _________________________________
Date Policyowner's Signature
Canada Life Insurance Company of New York
500 Mamaroneck Avenue
Harrison, NY 10528
<PAGE> 3
<TABLE>
<CAPTION>
CANADA LIFE OF NEW YORK
VARIABLE ACCOUNT 2 PERFORMANCE
------------------------------
[TRILLIUM LOGO] Average Annual Total Returns for Periods Ending June 30, 1997
A VARIABLE ANNUITY Assuming Contract Continues
Issued by Canada Life Insurance Company of New York
Year- Since Inception
PORTFOLIOS to-Date* 1 Year 3 Year 5 Year Inception Date
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
SELIGMAN COMMUNICATIONS AND
INFORMATION PORTFOLIO 6.91% 19.28% -- -- 19.30% 10/4/94
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SELIGMAN HENDERSON GLOBAL TECHNOLOGY
PORTFOLIO 8.06 13.06 -- -- 9.51 5/1/96
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SELIGMAN FRONTIER PORTFOLIO 9.01 10.73 -- -- 24.89 1O/4/94
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SELIGMAN HENDERSON GLOBAL SMALLER
COMPANIES PORTFOLIO 8.77 6.64 -- -- 16.32 10/4/94
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SELIGMAN CAPITAL PORTFOLIO 8.26 7.85 17.54% 13.81% 12.04 6/21/88
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SELIGMAN HENDERSON GLOBAL GROWTH
OPPORTUNITIES PORTFOLIO 12.73 10.83 -- -- 9.06 5/1/96
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SELIGMAN HENDERSON INTERNATIONAL 13.45 14.31 9.74 -- 9.80 5/3/93
PORTFOLIO (formerly Seligman Henderson
Global Portfolio)
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SELIGMAN COMMON STOCK PORTFOLIO 13.11 20.58 20.04 14.93 13.35 6/21/88
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SELIGMAN INCOME PORTFOLIO 6.28 9.63 9.07 7.33 8.16 6/2/88
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SELIGMAN HIGH-YIELD BOND PORTFOLIO 4.97 12.99 -- -- 11.20 5/1/95
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SELIGMAN BOND PORTFOLIO 1.72 4.90 5.47 4.20 4.96 6/21/88
(formerly Seligman Fixed Income
Securities Portfolio)
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SELIGMAN CASH MANAGEMENT PORTFOLIO 1.90 3.75 3.62 2.64 3.53 6/21/88
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* Not annualized.
</TABLE>
SELIGMAN CASH MANAGEMENT PORTFOLIO'S current yield, annualized for the seven-day
period ending June 30, 1997, was 3.86%. TRILLIUM FIXED ACCOUNT'S rate for the
one-year Guarantee Period was 5.25% as of June 30, 1997.
Performance quoted represents past performance, and the investment return and
principal value of an investment will fluctuate so that units, when
surrendered, may be worth more or less than their original cost. Performance
of the variable portfolios reflects the performance of Seligman Portfolios,
Inc., the underlying investment vehicle for the Trillium Variable Account,
adjusted for the current fees and charges (excluding CDSC) associated with
Trillium. For performance figures with CDSC, please see reverse side. The
variable account was established on 2/25/93 and commenced operations on 3/1/96.
The fixed account is held in the general account of Canada Life Insurance
Company of New York (CLNY) and provides a guarantee, by CLNY, against loss of
principal, and guarantees payment of a specified current rate of interest.
Please contact your financial advisor or call Seligman Financial Services at
800-221-2783 for a prospectus containing full details including information on
fees and charges. Please read the prospectus carefully before investing or
sending money.
There are specific risks associated with global technology investing, such as
currency fluctuations, foreign taxation, differences in financial reporting
practices, and changes in political conditions. A portfolio that concentrates
its investments in one sector of the economy may be subject to greater share
price fluctuations than a more diversified portfolio. There are specific risks
associated with global investing, such as currency fluctuations, foreign
taxation, differences in financial reporting practices, and charges in
political conditions. The securities in which the Seligman High-Yield Bond
Portfolio invests are subject to a greater risk of loss of principal and
interest than higher-rated investment grade bonds. Purchasers should carefully
assess the risks associated with an investment in the Portfolio.
<PAGE> 4
CANADA LIFE OF NEW YORK
VARIABLE ACCOUNT 2 PERFORMANCE
Average Annual Total Returns for Periods Ending June 30, 1997
Assuming Contract Is Surrendered at End of Period
<TABLE>
<CAPTION>
Since Inception
PORTFOLIOS 1 Year 3 Year 5 Year Inception Date
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SELIGMAN COMMUNICATIONS AND INFORMATION
PORTFOLIO 13.88% -- -- 18.10% 10/4/94
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SELIGMAN HENDERSON GLOBAL TECHNOLOGY PORTFOLIO 7.66 -- -- 4.95 5/1/96
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SELIGMAN FRONTIER PORTFOLIO 5.33 -- -- 23.79 10/4/94
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SELIGMAN HENDERSON GLOBAL SMALLER
COMPANIES PORTFOLIO 1.24 -- -- 15.06 10/4/94
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SELIGMAN CAPITAL PORTFOLIO 2.45 16.44% 13.49% 12.04 6/21/88
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SELIGMAN HENDERSON GLOBAL GROWTH
OPPORTUNITIES PORTFOLIO 5.43 -- -- 4.47 5/1/96
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SELIGMAN HENDERSON INTERNATIONAL PORTFOLIO 8.91 8.48 -- 9.15 5/3/93
(formerly Seligman Henderson Global Portfolio)
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SELIGMAN COMMON STOCK PORTFOLIO 15.18 18.99 14.62 13.35 6/21/88
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SELIGMAN INCOME PORTFOLIO 4.23 7.79 6.92 8.16 6/21/88
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SELIGMAN HIGH-YIELD BOND PORTFOLIO 7.59 -- -- 9.36 5/1/95
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SELIGMAN BOND PORTFOLIO (0.50) 4.10 3.74 4.96 6/21/88
(formerly Seligman Fixed Income Securities Portfolio)
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SELIGMAN CASH MANAGEMENT PORTFOLIO (1.65) 2.20 2.15 3.53 6/21/88
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</TABLE>
Issued by: Canada Life Insurance Company of New York, 500 Mamaroneck
Avenue, Harrison, NY 10528
Distributed by: Seligman Financial Services, Inc., 100 Park Avenue,
New York, NY 10017 - (800) 221-2783
SELIGMAN CASH MANAGEMENT PORTFOLIO'S current yield, annualized for the seven-day
period ending June 30, 1997, was 3.86%. TRILLIUM FIXED ACCOUNT'S rate for the
one-year Guarantee Period was 5.25% as of June 30, 1997.
Performance quoted represents past performance, and the investment return and
principal value of an investment will fluctuate so that units, when surrendered,
may be worth more or less than their original cost. Performance of the variable
portfolios reflects the performance of Seligman Portfolios, Inc., the underlying
investment vehicle for the Trillium Variable Account, and is adjusted for
Trillium's current fees and charges, including the maximum CDSC of 6%.
Trillium's CDSC for current premiums (premiums paid during the current and
previous six policy years) starts at 6% and decreases in steps, depending on the
number of policy years since the premium was paid, as follows: less than two
years, 6%; at least two, but less than four, 5%; at least four, but less than
five, 4%; at least five, but less than six, 3%; at least six, but less than
seven, 2%; at least seven, no charge. The variable account was established on
2/25/93 and commenced operations on 3/1/96. The fixed account is held in the
general account of Canada Life Insurance Company of New York (CLNY) and provides
a guarantee, by CLNY, against loss of principal, and guarantees payment of a
specified current rate of interest. Please contact your financial advisor or
call Seligman Financial Services at 800-221-2783 for a prospectus containing
full details including information on fees and charges. Please read the
prospectus carefully before investing or sending money.
