<PAGE>
[LOGO]
CANADA LIFE RONALD E. BEETTAM, F.S.A., F.C.I.A.
INSURANCE COMPANY OF NEW YORK President
410 Saw Mill River Road
Ardsley, New York 10502
(914) 693-2300
FAX: (914) 674-2535
February 28, 2000
Dear Trillium(R) Policyholder:
Enclosed is the Trillium Annual Report for the period ending December 31, 1999.
We encourage you to review this information and to refer to it as needed
throughout the year.
Please call your Registered Representative or Canada Life if you have any
questions.
Thank you for selecting Trillium for your financial needs.
Sincerely,
/s/ Ronald E. Beettam
Ronald E. Beettam
Encl.
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[LOGO] CANADA LIFE
TRILLIUM(R) INSURANCE COMPANY OF NEW YORK
A Variable Annuity 410 Saw Mill River Road
Ardsley, NY 10502
(914) 693-2300
Additional Premium Payment Form
Please complete the following information:
Owner: ________________ Amount of Premium Payment:
Annuitant: ________________ $____________
Policy No.: _______________
Owner's Ssn/Tin: __________
IF YOU ARE CHANGING ALLOCATION
PLEASE COMPLETE THE FOLLOWING:
________ This payment only
________ This payment and all
future pymts
________ Re-allocate all current
assets
<TABLE>
<S> <C> <C> <C> <C> <C>
CASH MGMT (21) ____% INCOME (22) ____% SMALL-CAP VALUE (44) ____%
BOND (23) ____% COM STOCK (24) ____% LARGE-CAP VALUE (45) ____%
CAPITAL (25) ____% INTERNATIONAL (26) ____%
COMM & INFO (27) ____% GBL GROWTH OPP (28) ____%
GBL SMLR CO (29) ____% FRONTIER (41) ____%
HIGH YLD BOND (42) ____% GLOBAL TECH (43) ____%
</TABLE>
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Fixed Account Options*
_____% 1 Yr. (201)
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Total allocation must equal 100%
Owner's Signature ___________________ Date_____________
Joint Owner's Signature ___________________ Date_____________
PLEASE MAKE CHECKS PAYABLE TO CANADA LIFE INSURANCE COMPANY OF NEW YORK
Information For Qualified Policy Contributions
(This Section Must Be Completed)
IS THIS A ROLLOVER? _____YES _____NO
IF YES, WHAT TYPE? _____________________ PLEASE NOTE: CONTRIBUTIONS FOR PRIOR
TAX YEAR CANNOT BE MADE
CONTRIBUTION $___________ FOR __________ AFTER APRIL 15TH OF THE
CURRENT TAX YEAR.
CONTRIBUTION $___________ FOR __________
PLEASE DIRECT ANY QUESTIONS REGARDING YOUR POLICY TO YOUR REGISTERED
REPRESENTATIVE OR TO OUR VARIABLE ANNUITY DEPARTMENT AT (800) 905-1959.
Our Variable Annuity Administrators can not advise you on the suitability of
your payment. Please contact your Registered Representative to discuss
suitability issues prior to submitting your additional premium payment.
Variable Annuities are issued by Canada Life Insurance Company of New York
and offered through its affiliate, Canada Life of America Financial
Services, Inc. (member NASD).
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The attached are incorporated by reference herein to the Annual Report filed by
and on behalf of the following:
Seligman Portfolios, Inc., filed March 1, 2000
Portfolios include: Seligman Bond, Seligman Capital, Seligman Cash
Management, Seligman Common Stock, Seligman Communications and Information,
Seligman Frontier, Seligman Global Growth, Seligman Global Smaller Companies,
Seligman Global Technology, Seligman High-Yield Bond, Seligman Income, Seligman
International Growth, Seligman Large-Cap Growth, Seligman Large-Cap Value, and
Seligman Small-Cap Value.
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CANADA LIFE OF NEW YORK
VARIABLE ACCOUNT 2 PERFORMANCE
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<TABLE>
<CAPTION>
[LOGO OF TRILLIUM Average Annual Total Returns for Periods Ending December 31, 1999
A VARIABLE ANNUITY Assuming Contract Continues
Issued by Canada Life Insurance
Company of New York
Since Inception
PORTFOLIOS 1 Year 3 Year 5 Year 10 Year Inception Date
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<S> <C> <C> <C> <C> <C> <C>
Seligman Communications and
Information Portfolio 83.13% 43.64% 33.99% -- 33.17% 10/4/94
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Seligman Global Technology
Portfolio 115.65 50.67 -- -- 40.92 5/1/96
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Seligman Frontier Portfolio 14.89 8.49 15.35 -- 15.72 10/4/94
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Seligman Small-Cap Value Portfolio 33.30 -- -- -- 5.61 5/1/98
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Seligman Global Smaller Companies
Portfolio 26.47 10.57 12.73 -- 12.78 10/4/94
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Seligman Capital Portfolio 51.11 29.51 25.07 17.20% 16.08 6/21/88
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Seligman Global Growth Portfolio 50.28 25.89 -- -- 20.10 5/1/96
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Seligman Large-Cap Value Portfolio (4.19) -- -- -- (3.26) 5/1/98
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Seligman Common Stock Portfolio 11.49 17.66 19.21 13.71 13.82 6/21/88
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Seligman International Growth
Portfolio 24.80 14.95 11.86 -- 10.72 5/3/93
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Seligman Income Portfolio 1.37 6.49 7.99 7.36 7.48 6/21/88
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Seligman High-Yield Bond Portfolio (2.20) 3.30 -- -- 6.14 5/1/95
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Seligman Bond Portfolio (5.88) 2.47 4.43 4.31 4.33 6/21/88
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Seligman Cash Management
Portfolio Current Yield 6.86%+ 3.54 3.76 3.71 3.33 3.53 6/21/88
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</TABLE>
+ Annualized for the seven-day period ending December 31, 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 4.75% as of
December 31, 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 for Seligman
Communications and Information and Seligman Global Technology Portfolios was
achieved during a market favorable to companies in the technology sector. There
can be no assurances that these Portfolios will continue consistently to
achieve, by investing in initial public offerings or otherwise, substantially
similar performance that the Portfolios had previously experienced. 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 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 technology investing, such as greater
price fluctuations, government regulation, and limited liquidity. 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. The stocks
of smaller companies may be subject to above-average market price fluctuations.
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. Purchasers 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
------------------------------
<TABLE>
<CAPTION>
Average Annual Total Returns for Periods Ending December 31, 1999
Assuming Contract Is Surrendered at End of Period
Since Inception
PORTFOLIOS 1 Year 3 Year 5 Year 10 Year Inception Date
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<S> <C> <C> <C> <C> <C> <C>
Seligman Communications and
Information Portfolio 77.73% 42.90% 33.82% -- 33.02% 10/4/94
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Seligman Global Technology Portfolio 110.25 50.01 -- -- 40.42 5/1/96
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Seligman Frontier Portfolio 9.49 7.21 15.04 -- 15.44 10/4/94
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Seligman Small-Cap Value Portfolio 27.90 -- -- -- 2.46 5/1/98
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Seligman Global Smaller Companies
Portfolio 21.07 9.33 12.40 -- 12.47 10/4/94
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Seligman Capital Portfolio 45.71 28.61 24.85 17.20% 16.08 6/21/88
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Seligman Global Growth Portfolio 44.88 24.94 -- -- 19.34 5/1/96
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Seligman Large-Cap Value Portfolio (9.59) -- -- -- (6.61) 5/1/98
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Seligman Common Stock Portfolio 6.09 16.56 18.94 13.71 13.82 6/21/88
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Seligman International Growth Portfolio 19.40 13.80 11.52 -- 10.56 5/3/93
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Seligman Income Portfolio (4.03) 5.15 7.59 7.36 7.48 6/21/88
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Seligman High-Yield Bond Portfolio (7.60) 1.88 -- -- 5.52 5/1/95
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Seligman Bond Portfolio (11.28) 1.03 3.97 4.31 4.33 6/21/88
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Seligman Cash Management Portfolio
Current Yield 6.86%+ (1.86) 2.34 3.24 3.33 3.53 6/21/88
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</TABLE>
+ Annualized for the seven-day period ending December 31, 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 4.75% as of
December 31, 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 for Seligman
Communications and Information and Seligman Global Technology Portfolios was
achieved during a market favorable to companies in the technology sector. There
can be no assurances that these Portfolios will continue consistently to
achieve, by investing in initial public offerings or otherwise, substantially
similar performance that the Portfolios had previously experienced. 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.
