<PAGE>
<TABLE>
<CAPTION>
CANADA LIFE OF NEW YORK
VARIABLE ACCOUNT 2 PERFORMANCE
------------------------------
Average Annual Total Returns for Periods Ending June 30, 1999
Assuming Contract Continues
[LOGO OF TRILLIUM A VARIABLE ANNUITY APPEARS HERE]
Issued by Canada Life Insurance Company of New York Year-to- Since Inception
PORTFOLIOS Date* 1 Year 3 Year 5 Year 10 year Inception Date
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<S> <C> <C> <C> <C> <C> <C> <C>
Seligman Communications and Information
Portfolio 20.07% 43.78% 29.40% -- -- 25.59% 10/4/94
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Seligman Henderson Global Technology
Portfolio 25.30 40.00 27.62 -- -- 25.36 5/1/96
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Seligman Frontier Portfolio (6.73) (15.87) 1.72 -- -- 12.46 10/4/94
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Seligman Small-Cap Value Portfolio 42.47 28.27 -- -- -- 14.50 5/1/98
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Seligman Henderson Global Smaller
Companies Portfolio 1.39 (7.68) 2.02 -- -- 9.02 10/4/94
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Seligman Capital Portfolio 7.48 14.43 15.44 18.28% 14.06% 13.32 6/21/88
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Seligman Henderson Global Growth
Opportunities Portfolio 13.50 14.82 13.98 -- -- 13.15 5/1/96
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Seligman Large-Cap Value Portfolio 10.37 10.15 -- -- -- 7.68 5/1/98
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Seligman Common Stock Portfolio 9.88 19.68 19.60 19.64 14.80 14.34 6/21/88
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Seligman Henderson International
Portfolio 3.73 0.97 8.33 7.98 -- 8.34 5/3/93
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Seligman Income Portfolio (0.10) 1.14 7.07 7.73 7.58 7.69 6/21/88
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Seligman High-Yield Bond Portfolio (0.55) (5.76) 6.46 -- -- 7.34 5/1/95
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Seligman Bond Portfolio (5.03) (1.75) 3.83 4.57 4.61 4.61 6/21/88
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Seligman Cash Management Portfolio
Current Yield 3.39%+ 1.61 3.56 3.72 3.63 3.45 3.52 6/21/88
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</TABLE>
* Not annualized.
+ Annualized for the seven-day period ending June 30, 1999. The current yield
figure shown more closely reflects the current earnings of the Portfolio than
total return figures. Although Seligman Cash Management Portfolio seeks to
preserve the value of investments at $1.00 per share, it is possible to lose
money by investing in the Portfolio.
Trillium Fixed Account's rate for the one-year Guarantee Period was 4.50% as of
June 30, 1999.
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 (CINY) and provides
a guarantee, by CINY, against loss of principal, and guarantees payment of a
specified current rate of interest. Please contact your financial advisor or
call Seligman Advisors 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 change in political conditions. A portfolio that concentrate 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 changes in political
conditions. A portfolio with fewer holdings, such as Seligman Large-Cap Value
Portfolio and Seligman Small-Cap Value Portfolio, may be subject to greater
volatility than a portfolio with a greater number of holdings. High-yield bonds
are subject to a greater risk of loss of principal and interest than
higher-rated investment grade bonds. Purchases should carefully assess the risks
associated with an investment in Seligman High-Yield Bond Portfolio.
<PAGE>
CANADA LIFE OF NEW YORK
VARIABLE ACCOUNT 2 PERFORMANCE
------------------------------
Average Annual Total Returns for Periods Ending June 30, 1999
Assuming Contract Is Surrendered at End of Period
<TABLE>
<CAPTION>
Year-to- Since Inception
PORTFOLIOS Date* 1 Year 3 Year 5 Year 10 Year Inception Date
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<S> <C> <C> <C> <C> <C> <C> <C>
Seligman Communications and Information
Portfolio 14.67% 38.38% 28.50% -- -- 25.26% 10/4/94
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Seligman Henderson Global Technology Portfolio 19.90 34.60 26.69 -- -- 24.48 5/1/96
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Seligman Frontier Portfolio (12.13) (21.27) 0.25 -- -- 11.97 10/4/94
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Seligman Small-Cap Value Portfolio 37.07 22.87 -- -- -- 9.95 5/1/98
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Seligman Henderson Global Smaller
Companies Portfolio (4.01) (13.08) 0.56 -- -- 8.46 10/4/94
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Seligman Capital Portfolio 2.08 9.03 14.31 18.00% 14.06% 13.32 6/21/88
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Seligman Henderson Global Growth
Opportunities Portfolio 8.10 9.42 12.81 -- -- 12.05 5/1/96
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Seligman Large-Cap Value Portfolio 4.97 4.75 -- -- -- 3.08 5/1/98
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Seligman Common Stock Portfolio 4.48 14.28 18.54 19.38 14.80 14.34 6/21/88
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Seligman Henderson International Portfolio (1.67) (4.43) 7.04 7.58 -- 8.14 5/3/93
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Seligman Income Portfolio (5.50) (4.26) 5.74 7.33 7.58 7.69 6/21/88
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Seligman High-Yield Bond Portfolio (5.95) (11.16) 5.12 -- -- 6.64 5/1/95
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Seligman Bond Portfolio (10.43) (7.15) 2.42 4.12 4.61 4.61 6/21/88
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Seligman Cash Management Portfolio Current Yield 3.39%+ (3.79) (1.84) 2.30 3.15 3.45 3.52 6/21/88
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</TABLE>
* Not annualized.
+ Annualized for the seven-day period ending June 30, 1999. The current yield
figure shown more closely reflects the current earnings of the Portfolio than
total return figures. Although Seligman Cash Management Portfolio seeks to
preserve the value of investments at $1.00 per share, it is possible to lose
money by investing in the Portfolio.
Trillium Fixed Account's rate for the one-year Guarantee Period was 4.50% as of
June 30, 1999.
Issued by: Canada Life Insurance Company of New York, 410 Saw Mill Road,
Suite 1010, Ardsley, NY 10502
New York Policy Forms 30099/30100 and 30125/30126 -- subject to state approval
Distributed by: Seligman Advisors, Inc., 100 Park Avenue, New York, NY 10017
. (800) 221-2783
Shares of the Trillium portfolios are not deposits or obligations of, or
guaranteed or endorsed by, any bank. Shares are not insured by the Federal
Deposit Insurance Corporation, the Federal Reserve Board, or any other federal
agency, and are subject to market fluctuations including possible loss of
principal.
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
Advisors 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.
RVA-NY 6/99 [RECYCLE LOGO] Printed on Recycled Paper
