EQUITABLE LIFE INSURANCE
COMPANY OF IOWA
SEPARATE ACCOUNT A
ANNUAL
REPORT
DECEMBER 31, 1995
PRIMELITE
VARIABLE ANNUITY
The information contained in this report is intended for general
informational purposes only. This report is not authorized for
distribution to prospective investors unless preceded or
accompanied by current Trust, Fund, and Separate Account
prospectuses which contain important information concerning the
Trust, the Fund, the Company, and its current public offering of
variable annuity contracts.
Equitable Life Insurance Company of Iowa
Separate Account A
Annual Report
Period Ended December 31, 1995
Table of Contents
Letter to Contract Owners
Separate Account A Financial Statements
Report of Independent Auditors
Statements of Net Assets
Statements of Operations
Statements of Changes in Net Assets
Notes to Financial Statements
Dear PrimElite Contract Owners:
Since its inception, the PrimElite Variable Annuity has been
simplifying the process of accumulating dollars for
retirement by providing you with an attractive means to help
achieve your retirement goals. Benefits of the product
include high quality professional fund management, flexible
contract features, and tax-deferred accumulation.
Developed by Primerica Financial Services in partnership
with Equitable Life Insurance Company of Iowa, the PrimElite
has recently expanded its investment options to offer eight
different Portfolios and a fixed account option in one
product. Each option has a different objective and you may
allocate dollars among any of the options based on your
financial objectives. The recent addition of the Total
Return, OTC and Appreciation Portfolios offers you even more
investment flexibility in the PrimElite.
Smith Barney Mutual Funds Management Inc. lends its
expertise to the management of five portfolios: Money
Market, High Income, Income and Growth, International
Equity, and Appreciation. Equitable Investment Services,
Inc. is the investment advisor for the Equi-Select Series
Trust, which includes the Research, OTC, and Total Return
Portfolios. Management for these Portfolios is provided by
Massachusetts Financial Services Company (MFS), the nation's
oldest mutual fund company. You can also allocate some or
all of your PrimElite dollars in an account offering a fixed
rate of return. These investment funds and fixed account
combined with the power of tax-deferral make the PrimElite a
sensible choice for accumulating dollars for retirement.
If your investment needs change later, your PrimElite can
change to meet those needs. You can transfer monies between
the options up to 12 times per year without charge and
without adverse tax consequences. Some restrictions apply to
transfers from the fixed account. You should review your
allocation periodically to assure that it is still
consistent with your objectives.
We're pleased that you have selected the PrimElite as a
retirement vehicle. Please contact our Customer Service
Department at 800-648-6810 or your PFS representative if you
have questions about your PrimElite Variable Annuity.
Best regards,
/s/ Fred S. Hubbell
Fred S. Hubbell
President, Chairman and Chief Executive Officer
Equitable Life Insurance Company of Iowa
Report of Independent Auditors
The Board of Directors
Equitable Life Insurance Company of Iowa
We have audited the accompanying statements of net assets of certain
accounts of Equitable Life Insurance Company of Iowa Separate Account
A (comprising, respectively, the Research, International Equity,
Income and Growth, High Income, and Money Market Accounts) as of
December 31, 1995, and the related statements of operations for the
period January 1, 1995 or commencement of operations through December
31, 1995, and the statements of changes in net assets for the period
from October 7, 1994 through December 31, 1994 and for the period
January 1, 1995 or commencement of operations through December 31,
1995. These financial statements are the responsibility of the
Account's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. Our procedures included confirmation of
securities owned as of December 31, 1995, by correspondence with the
transfer agent. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of certain
accounts of the Equitable Life Insurance Company of Iowa Separate
Account A at December 31, 1995, and the results of their operations
for the period January 1, 1995 or commencement of operations through
December 31, 1995 and the changes in their net assets for the period
from October 7, 1994 through December 31, 1994 and the period from
January 1, 1995 or commencement of operations through December 31,
1995 in conformity with generally accepted accounting principles.
/s/ Ernst & Young LLP
Des Moines, Iowa
February 7, 1996
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF NET ASSETS
December 31, 1995
<TABLE>
<CAPTION>
Research
Account
____________
<S> <C>
ASSETS
Investments at net asset value:
Equi-Select Series Trust
Equi-Select Research Portfolio,
1,255,727 shares at $12.88 per share (cost - $14,644,800) $16,172,693
Smith Barney/Travelers Series Fund Inc.
Smith Barney International Equity Portfolio,
167,157 shares at $10.68 per share (cost - $1,753,674)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Income and Growth Portfolio,
276,435 shares at $12.86 per share (cost - $3,366,536)
Smith Barney/Travelers Series Fund Inc.
Smith Barney High Income Portfolio,
71,320 shares at $11.09 per share (cost - $791,011)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Money Market Portfolio,
1,277,892 shares at $1.00 per share (cost - $1,277,892)
____________
TOTAL INVESTMENTS 16,172,693
Accrued investment income 274,255
____________
TOTAL NET ASSETS $16,446,948
============
NET ASSETS REPRESENTED BY:
Units 1,255,752
Unit Value 13.10
____________
Net Assets $16,446,948
============
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF NET ASSETS
December 31, 1995
<TABLE>
<CAPTION>
International
Equity
Account
______________
<S> <C>
ASSETS
Investments at net asset value:
Equi-Select Series Trust
Equi-Select Research Portfolio,
1,255,727 shares at $12.88 per share (cost - $14,644,800)
Smith Barney/Travelers Series Fund Inc.
Smith Barney International Equity Portfolio,
167,157 shares at $10.68 per share (cost - $1,753,674) $1,785,234
Smith Barney/Travelers Series Fund Inc.
Smith Barney Income and Growth Portfolio,
276,435 shares at $12.86 per share (cost - $3,366,536)
Smith Barney/Travelers Series Fund Inc.
Smith Barney High Income Portfolio,
71,320 shares at $11.09 per share (cost - $791,011)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Money Market Portfolio,
1,277,892 shares at $1.00 per share (cost - $1,277,892)
______________
TOTAL INVESTMENTS 1,785,234
Accrued investment income --
______________
TOTAL NET ASSETS $1,785,234
==============
NET ASSETS REPRESENTED BY:
Units 154,388
Unit Value 11.56
______________
Net Assets $1,785,234
==============
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF NET ASSETS
December 31, 1995
<TABLE>
<CAPTION>
Income and
Growth
Account
______________
<S> <C>
ASSETS
Investments at net asset value:
Equi-Select Series Trust
Equi-Select Research Portfolio,
1,255,727 shares at $12.88 per share (cost - $14,644,800)
Smith Barney/Travelers Series Fund Inc.
Smith Barney International Equity Portfolio,
167,157 shares at $10.68 per share (cost - $1,753,674)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Income and Growth Portfolio,
276,435 shares at $12.86 per share (cost - $3,366,536) $3,554,954
Smith Barney/Travelers Series Fund Inc.
Smith Barney High Income Portfolio,
71,320 shares at $11.09 per share (cost - $791,011)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Money Market Portfolio,
1,277,892 shares at $1.00 per share (cost - $1,277,892)
______________
TOTAL INVESTMENTS 3,554,954
Accrued investment income --
______________
TOTAL NET ASSETS $3,554,954
==============
NET ASSETS REPRESENTED BY:
Units 295,134
Unit Value 12.05
______________
Net Assets $3,554,954
==============
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF NET ASSETS
December 31, 1995
<TABLE>
<CAPTION>
High
Income
Account
______________
<S> <C>
ASSETS
Investments at net asset value:
Equi-Select Series Trust
Equi-Select Research Portfolio,
1,255,727 shares at $12.88 per share (cost - $14,644,800)
Smith Barney/Travelers Series Fund Inc.
Smith Barney International Equity Portfolio,
167,157 shares at $10.68 per share (cost - $1,753,674)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Income and Growth Portfolio,
276,435 shares at $12.86 per share (cost - $3,366,536)
Smith Barney/Travelers Series Fund Inc.
Smith Barney High Income Portfolio,
71,320 shares at $11.09 per share (cost - $791,011) $790,940
Smith Barney/Travelers Series Fund Inc.
Smith Barney Money Market Portfolio,
1,277,892 shares at $1.00 per share (cost - $1,277,892)
______________
TOTAL INVESTMENTS 790,940
Accrued investment income --
______________
TOTAL NET ASSETS $790,940
==============
NET ASSETS REPRESENTED BY:
Units 72,283
Unit Value 10.94
______________
Net Assets $790,940
==============
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF NET ASSETS
December 31, 1995
<TABLE>
<CAPTION>
Money
Market
Account
______________
<S> <C>
ASSETS
Investments at net asset value:
Equi-Select Series Trust
Equi-Select Research Portfolio,
1,255,727 shares at $12.88 per share (cost - $14,644,800)
Smith Barney/Travelers Series Fund Inc.
Smith Barney International Equity Portfolio,
167,157 shares at $10.68 per share (cost - $1,753,674)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Income and Growth Portfolio,
276,435 shares at $12.86 per share (cost - $3,366,536)
Smith Barney/Travelers Series Fund Inc.
Smith Barney High Income Portfolio,
71,320 shares at $11.09 per share (cost - $791,011)
Smith Barney/Travelers Series Fund Inc.
Smith Barney Money Market Portfolio,
1,277,892 shares at $1.00 per share (cost - $1,277,892) $1,277,892
______________
TOTAL INVESTMENTS 1,277,892
Accrued investment income 1,633
______________
TOTAL NET ASSETS $1,279,525
==============
NET ASSETS REPRESENTED BY:
Units 125,048
Unit Value 10.23
______________
Net Assets $1,279,525
==============
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
For the period January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
International Income
Research Equity and Growth
Account Account Account
______________ ______________ ______________
<S> <C> <C> <C>
INVESTMENT INCOME (LOSS)
Income:
Dividends $39,906 $2,011 $46,777
Capital gains distributions 234,349 -- 12,711
Expenses (Note 2):
Annual contract charges (558) -- --
Administrative charges (8,999) (620) (1,381)
Mortality and expense
risk charges (74,579) (5,135) (11,442)
______________ ______________ ______________
Net investment income (loss) 190,119 (3,744) 46,665
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS (NOTE 4)
Net realized gain (loss) on
investments 19,662 (4) 106
Net unrealized appreciation
(depreciation) of
investments 1,548,017 31,560 188,418
______________ ______________ ______________
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS $1,757,798 $27,812 $235,189
============== ============== ==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF OPERATIONS
For the period January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
High Money
Income Market
Account Account
______________ ______________
<S> <C> <C>
INVESTMENT INCOME (LOSS)
Income:
Dividends $33,656 $12,980
Capital gains distributions -- --
Expenses (Note 2):
Annual contract charges -- --
Administrative charges (298) (364)
Mortality and expense
risk charges (2,475) (3,016)
______________ ______________
Net investment income (loss) 30,883 9,600
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS (NOTE 4)
Net realized gain (loss) on
investments 20 --
Net unrealized appreciation
(depreciation) of
investments (71) --
______________ ______________
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS $30,832 $9,600
============== ==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
For the period from October 7, 1994* through December 31, 1994
and for the period from January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
Research
Account
______________
<S> <C>
NET ASSETS AT OCTOBER 7, 1994* --
INCREASE IN NET ASSETS
Operations:
Net investment income $4,874
Net realized loss on investments (3)
Net unrealized depreciation of investments (20,124)
______________
Net decrease in net assets resulting from operations (15,253)
Changes from principal transactions:
Purchase payments 635,302
Contract distributions and terminations (50)
Transfer payments from other Accounts 52,604
______________
Increase in net assets derived from principal transactions 687,856
______________
Total increase 672,603
______________
NET ASSETS AT DECEMBER 31, 1994 672,603
INCREASE IN NET ASSETS
Operations:
Net investment income (loss) 190,119
Net realized gain (loss) on investments 19,662
Net unrealized appreciation (depreciation) of investments 1,548,017
______________
Net increase in net assets resulting from operations 1,757,798
Changes from principal transactions:
Purchase payments 8,333,228
Contract distributions and terminations (32,130)
Transfer payments from (to) other Accounts 588,563
Transfer payments from (to) Fixed Account and other Funds 5,126,886
______________
Increase in net assets derived from principal transactions 14,016,547
______________
Total increase 15,774,345
______________
NET ASSETS AT DECEMBER 31, 1995 $16,446,948
==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
For the period from October 7, 1994* through December 31, 1994
and for the period from January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
International
Equity
Account
______________
<S> <C>
NET ASSETS AT OCTOBER 7, 1994* --
INCREASE IN NET ASSETS
Operations:
Net investment income --
Net realized loss on investments --
Net unrealized depreciation of investments --
______________
Net decrease in net assets resulting from operations --
Changes from principal transactions:
Purchase payments --
Contract distributions and terminations --
Transfer payments from other Accounts --
______________
Increase in net assets derived from principal transactions --
______________
Total increase --
______________
NET ASSETS AT DECEMBER 31, 1994 --
INCREASE IN NET ASSETS
Operations:
Net investment income (loss) ($3,744)
Net realized gain (loss) on investments (4)
Net unrealized appreciation (depreciation) of investments 31,560
______________
Net increase in net assets resulting from operations 27,812
Changes from principal transactions:
Purchase payments 1,444,691
Contract distributions and terminations --
Transfer payments from (to) other Accounts 300,075
Transfer payments from (to) Fixed Account and other Funds 12,656
______________
Increase in net assets derived from principal transactions 1,757,422
______________
Total increase 1,785,234
______________
NET ASSETS AT DECEMBER 31, 1995 $1,785,234
==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
For the period from October 7, 1994* through December 31, 1994
and for the period from January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
Income
and Growth
Account
______________
<S> <C>
NET ASSETS AT OCTOBER 7, 1994* --
INCREASE IN NET ASSETS
Operations:
Net investment income --
Net realized loss on investments --
Net unrealized depreciation of investments --
______________
Net decrease in net assets resulting from operations --
Changes from principal transactions:
Purchase payments --
Contract distributions and terminations --
Transfer payments from other Accounts --
______________
Increase in net assets derived from principal transactions --
______________
Total increase --
______________
NET ASSETS AT DECEMBER 31, 1994 --
INCREASE IN NET ASSETS
Operations:
Net investment income (loss) $46,665
Net realized gain (loss) on investments 106
Net unrealized appreciation (depreciation) of investments 188,418
______________
Net increase in net assets resulting from operations 235,189
Changes from principal transactions:
Purchase payments 2,609,690
Contract distributions and terminations (77)
Transfer payments from (to) other Accounts 697,496
Transfer payments from (to) Fixed Account and other Funds 12,656
______________
Increase in net assets derived from principal transactions 3,319,765
______________
Total increase 3,554,954
______________
NET ASSETS AT DECEMBER 31, 1995 $3,554,954
==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
For the period from October 7, 1994* through December 31, 1994
and for the period from January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
High
Income
Account
______________
<S> <C>
NET ASSETS AT OCTOBER 7, 1994* --
INCREASE IN NET ASSETS
Operations:
Net investment income --
Net realized loss on investments --
Net unrealized depreciation of investments --
______________
Net decrease in net assets resulting from operations --
Changes from principal transactions:
Purchase payments --
Contract distributions and terminations --
Transfer payments from other Accounts --
______________
Increase in net assets derived from principal transactions --
______________
Total increase --
______________
NET ASSETS AT DECEMBER 31, 1994 --
INCREASE IN NET ASSETS
Operations:
Net investment income (loss) $30,883
Net realized gain (loss) on investments 20
Net unrealized appreciation (depreciation) of investments (71)
______________
Net increase in net assets resulting from operations 30,832
Changes from principal transactions:
Purchase payments 672,913
Contract distributions and terminations (1,611)
Transfer payments from (to) other Accounts 76,650
Transfer payments from (to) Fixed Account and other Funds 12,156
______________
Increase in net assets derived from principal transactions 760,108
______________
Total increase 790,940
______________
NET ASSETS AT DECEMBER 31, 1995 $790,940
==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
STATEMENTS OF CHANGES IN NET ASSETS
For the period from October 7, 1994* through December 31, 1994
and for the period from January 1, 1995 or Commencement of Operations*
through December 31, 1995
<TABLE>
<CAPTION>
Money
Market
Account
______________
<S> <C>
NET ASSETS AT OCTOBER 7, 1994* --
INCREASE IN NET ASSETS
Operations:
Net investment income --
Net realized loss on investments --
Net unrealized depreciation of investments --
______________
Net in net assets resulting from operations --
Changes from principal transactions:
Purchase payments --
Contract distributions and terminations --
Transfer payments from other Accounts --
______________
Increase in net assets derived from principal transactions --
______________
Total increase --
______________
NET ASSETS AT DECEMBER 31, 1994 --
INCREASE IN NET ASSETS
Operations:
Net investment income (loss) $9,600
Net realized gain (loss) on investments --
Net unrealized appreciation (depreciation) of investments --
______________
Net increase in net assets resulting from operations 9,600
Changes from principal transactions:
Purchase payments 3,007,403
Contract distributions and terminations (13,913)
Transfer payments from (to) other Accounts (1,662,784)
Transfer payments from (to) Fixed Account and other Funds (60,781)
______________
Increase in net assets derived from principal transactions 1,269,925
______________
Total increase 1,279,525
______________
NET ASSETS AT DECEMBER 31, 1995 $1,279,525
==============
<FN>
*Commencement of operations - see Note 1
</TABLE>
See accompanying notes.
EQUITABLE LIFE INSURANCE COMPANY OF IOWA
SEPARATE ACCOUNT A
NOTES TO FINANCIAL STATEMENTS
December 31, 1995
NOTE 1 - INVESTMENT AND ACCOUNTING POLICIES
Equitable Life Insurance Company of Iowa Separate Account A was
organized by Equitable Life Insurance Company of Iowa (the
"Company") in accordance with the provisions of Iowa Insurance
laws and is a part of the total operations of the Company. The
assets and liabilities of the Equitable Life Insurance Company of
Iowa Separate Account A are clearly identified and distinguished
from the other assets and liabilities of the Company.
Commencement of operations is defined as the date of initial sale
of contract units to contract owners. The Equitable Life
Insurance Company of Iowa Separate Account A investment accounts
commenced operations on October 7, 1994 for the Research Account,
March 27, 1995 for the International Equity Account, April 5,
1995 for the Income and Growth Account, April 28, 1995 for the
High Income Account, and May 24, 1995 for the Money Market
Account. Investments are stated at the closing net asset values
per share on December 31, 1995.
Equitable Life Insurance Company of Iowa Separate Account A
consists of fourteen investment accounts, four of which
(International Equity, Income and Growth, High Income, and Money
Market), as directed by eligible contract owners, are invested in
specified portfolios of the Smith Barney/Travelers Series Fund
Inc., an open-end management investment company under the
Investment Company Act of 1940, which commenced operations on
June 16, 1994. Activity in these four investment accounts, as
well as the Research Account, which invests in the Equi-Select
Series Trust, is available to contract owners of the PrimElite
Variable Annuity Product.
The remaining ten investment accounts (including the Research
Account) are invested in specified portfolios of the Equi-Select
Series Trust, which commenced operations on October 4, 1994.
These ten investment accounts are available to contract owners of
the Equi-Select Variable Annuity product.
The financial statements included herein present only those
investment accounts available to contract owners of the PrimElite
Variable Annuity product. The financial statements of the
remaining investment accounts available to contract owners of the
Equi-Select Variable Annuity product are presented separately.
The average cost method is used to determine realized gains and
losses. Dividends are taken into income on an accrual basis as
of the ex-dividend date.
NOTE 2 - EXPENSES
The Company is compensated for mortality and expense risks and
administrative costs by a charge equivalent to an annual rate of
1.25% and 0.15%, respectively, of the total net assets of each
Account. These charges amounted to $96,647 and $11,662,
respectively, during 1995 ($980 and $118, respectively in 1994).
NOTE 2 - EXPENSES (continued)
An annual contract charge of $30 is deducted on each contract
anniversary prior to the maturity date, upon full withdrawal of a
contract's value or upon commencement of annuity payments if such
withdrawal is made or annuity payments commence on a date other
than the contract anniversary. During 1995, annual contract
charges amounted to $558. No annual contract charges were
assessed in 1994.
A transfer charge computed as the lesser of 2% of the contract
value transferred or $25 will be imposed on each transfer between
Accounts in excess of twelve in any one calendar year. A
withdrawal charge may be imposed in the event of withdrawal of
any portion of the contract value or upon annuitization. The
withdrawal charge is 8% of the amount withdrawn prior to the
first anniversary of the purchase payment and reduces by 1% at
each subsequent purchase payment anniversary.
NOTE 3 - FEDERAL INCOME TAXES
Operations of the Equitable Life Insurance Company of Iowa
Separate Account A form a part of the operations of the Company
which is taxed as a life insurance company under the Internal
Revenue Code. Under current law, no federal income taxes are
payable with respect to operations of Equitable Life Insurance
Company of Iowa Separate Account A.
NOTE 4 - PURCHASES AND SALES OF INVESTMENT SECURITIES
The aggregate cost of purchases and proceeds from sales of
investments were as follows:
<TABLE>
<CAPTION>
Period From
January 1, 1995 or
Commencement of Period From
Operations October 7, 1994 to
to December 31, 1995 December 31, 1994
_________________________ _________________________
Purchases Sales Purchases Sales
____________ ____________ ____________ ____________
<S> <C> <C> <C> <C>
Research Portfolio $14,168,762 $230,594 $687,042 $69
International Equity
Portfolio 1,754,791 1,113 -- --
Income and Growth Portfolio 3,373,110 6,680 -- --
High Income Portfolio 792,963 1,972 -- --
Money Market Portfolio 2,614,578 1,336,686 -- --
</TABLE>
NOTE 5 - SUMMARY OF CHANGES FROM UNIT TRANSACTIONS
Transactions in units were as follows:
<TABLE>
<CAPTION>
Period From
January 1, 1995 or
Commencement of Period From
Operations October 7, 1994 to
to December 31, 1995 December 31, 1994
_________________________ _________________________
Purchases Sales Purchases Sales
____________ ____________ ____________ ____________
<S> <C> <C> <C> <C>
Research Account 1,196,506 9,931 69,182 5
International Equity Account 154,388 -- -- --
Income and Growth Account 295,140 6 -- --
High Income Account 72,433 150 -- --
Money Market Account 295,977 170,929 -- --
</TABLE>
NOTE 6 - NET ASSETS
Net assets at December 31, 1995 consisted of the following:
<TABLE>
<CAPTION>
International Income
Research Equity and Growth
Account Account Account
______________ ______________ ______________
<S> <C> <C> <C>
Unit transactions $14,724,226 $1,757,418 $3,319,871
Accumulated net
investment income (loss) 194,829 (3,744) 46,665
Net unrealized appreciation
(depreciation) of
investments 1,527,893 31,560 188,418
______________ ______________ ______________
$16,446,948 $1,785,234 $3,554,954
============== ============== ==============
</TABLE>
<TABLE>
<CAPTION>
High Money
Income Market
Account Account
______________ ______________
<S> <C> <C>
Unit transactions $760,190 $1,275,454
Accumulated net
investment income (loss) 30,821 4,071
Net unrealized appreciation
(depreciation) of
investments (71) --
______________ ______________
$790,940 $1,279,525
============== ==============
</TABLE>
The information contained in this report is intended for general
informational purposes only. This report is not authorized for
distribution to prospective investors unless preceded or
accompanied by current Trust, Fund, and Separate Account
prospectuses which contain important information concerning the
Trust, the Fund, the Company, and its current public offering of
variable annuity contracts.
The PrimElite Variable Annuity is distributed by Equitable of Iowa Securities
Network, Inc., an affiliate of Equitable Life Insurance Company of Iowa.
EQUITABLE LIFE OF IOWA
P.O. BOX 9271, DES MOINES, IA 50306-9271
