FIRST COVA VARIABLE ANNUITY ACCOUNT ONE
24F-2NT, 2000-03-21
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24F-2

             Read instructions at end of Form before preparing Form.


1.   Name and address of issuer: First Cova Variable Annuity Account One
                                 One Tower Lane, Suite 3000
                                 Oakbrook Terrace, IL 60181-4644

2.   The name of each series or class of securities for which this Form is filed
     (If the Form is being filed for all series and classes of securities of the
     issuer, check the box but do not list series or classes):
     [X]

3.   Investment Company Act File Number: 811-08306

     Securities Act File Number: 033-74174

4(a). Last day of fiscal year for which this Form is filed: December 31, 1999

4(b).|_| Check box if this Form is being filed late (i.e., more than 90 calendar
     days after the end of the issuer's fiscal year). (See Instruction A.2)

Note: If the Form is being filed late, interest must be paid on the registration
fee due.

4(c).|_| Check box if this is the last time the issuer will be filing this Form.











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5.   Calculation of registration fee:

(i)  Aggregate sale price of securities  sold during the fiscal year pursuant to
     section 24(f):                                                                               $  713,506
                                                                                                  ----------

(ii) Aggregate  price of securities  redeemed or  repurchased  during the fiscal
     year:                                                                                        $   26,042
                                                                                                  ----------

(iii)Aggregate  price of  securities  redeemed or  repurchased  during any prior
     fiscal  year  ending  no  earlier  than  October  11,  1995  that  were not
     previously used to reduce registration fees payable to the Commission:                    +  $        0
                                                                                                  ----------

(iv) Total available redemption credits (add Items 5(ii) And 5(iii):                           =  $   26,042
                                                                                                  ----------

(v)  Net Sales - if Item 5(i) is greater  than Item 5(iv)  (Subtract  Item 5(iv)
     from Item 5(i)):                                                                             $  687,464
                                                                                                  ----------

(vi) Redemption  credits available for use in future years $( 0 ) - if Item 5(i)
     is less than Item 5(iv) (subtract Item 5(iv) from Item 5(i)):

(vii)Multiplier  for  determining  registration  fee (See  instruction  C.9):                  x    0.000264
                                                                                                    --------

(viii) Registration fee due (multiply Item 5(v) by Item 5(vii)) (Enter "0" if no
     fee is due):                                                                              =  $   181.49
                                                                                                  ----------

6.   Prepaid Shares

If the response to Item 5(i) was determined by deducting an amount of securities
that were registered  under the Securities Act of 1933 pursuant to rule 24e-2 as
in effect before October 11, 1997, then report the amount of securities  (number
of shares or other units) deducted here:

If there is a number of shares or other units that were  registered  pursuant to
rule 24e-2 remaining unsold at the end of the fiscal year for which this form is
filed that are  available  for use by the issuer in future  fiscal  years,  then
state that number here:

7.   Interest  due - if this Form is being filed more than 90 days after the end
     of the issuer's fiscal year (See instruction D):                                          +  $     0.00
                                                                                                  ----------

8.   Total of the amount of the registration fee due plus any interest due (line
     5(viii) plus line 7):                                                                     =  $   181.49
                                                                                                  ----------
</TABLE>

9.   Date  the  registration  fee  and  any  interest  payment  was  sent to the
     Commission's lockbox depository: 3/2/2000
     Method of Delivery:
                   |X| Wire Transfer
                   |_| Mail or other means








                                   SIGNATURES

This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.

By (Signature and Title):    /s/ PETER L. WITKEWIZ
                             ___________________________________________________
                             Peter L. Witkewiz, Vice President and Controller

                             /s/ WILLIAM P. FLORY, JR.
                             ___________________________________________________
                             William P. Flory, Jr., Assistant Vice President

Date:  March 4, 2000


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