Supplement dated December 15, 1999
to Prospectus dated May 1, 1999
for
ALLEGIANCE VARIABLE ANNUITY
Issued by
ALEXANDER HAMILTON VARIABLE ANNUITY SEPARATE ACCOUNT
of
ALEXANDER HAMILTON LIFE INSURANCE COMPANY OF AMERICA
This supplement updates certain information contained in the prospectus and, to
the extent inconsistent, it supersedes it. Retain it with the prospectus for
future reference. You may obtain an additional copy of the prospectus, free of
charge, by writing or calling Alexander Hamilton Life Insurance Company of
America ("AH Life") at the address or telephone number set forth below.
The purpose of this supplement is to notify you of a proposal to substitute
shares of the S&P 500 Index Portfolio of Jefferson Pilot Variable Fund, Inc.
("JPVF") for shares of the Fidelity Variable Insurance Products Fund II
("Fidelity VIP II") Index 500 Portfolio (the "Substitution"). On December 15,
1999, AH Life filed an application with the Securities and Exchange Commission
(the "Commission") requesting an order approving the Substitution. Upon
obtaining the order from the Commission approving the Substitution, and subject
to any prior approval by applicable insurance authorities, AH Life and Alexander
Hamilton Variable Annuity Separate Account propose to effect the Substitution as
soon as is practicable.
AH Life has proposed the substitution of the JPVF S&P 500 Index Portfolio for
the Fidelity VIP II Index 500 Portfolio to allow AH Life to maintain a greater
proprietary identity between its variable products and the Index 500 investment
option, to give AH Life greater control with respect to administrative and
compliance issues and to afford JPVF's investment advisor, Jefferson Pilot
Investment Advisory Corporation, the ability to make sub-adviser changes when
necessary or appropriate.
Contract owners will receive a notice within five days after the substitution
that the substitution has taken place. For a thirty-one day period following the
mailing of the notice, Contract owners may transfer all assets, as substituted,
to any other available Division of Alexander Hamilton Variable Annuity Separate
Account without limitation or charge and without any such transfer counting as
one of the limited number of transfers permitted in a contract year free of
charge. After such thirty-one day period, any transfers will be subject to the
restrictions described in the prospectus.
Alexander Hamilton Life Insurance Company of America
Service Center
One Granite Place
Concord, New Hampshire 03301
(800) 258-3648 x7719
