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<PAGE> PAGE 1 Massachusetts Prospectus Supplement* July 1, 1997 AEL Personal Portfolio 37301 F (4/97) The following language is added to the last paragraph on page 20 of the prospectus under "Buying your annuity:" In Massachusetts additional purchase payments may be made to nonqualified and qualified annuities for 10 contract years only. *Destroy 5/1/98 37301-35 (6/97) <PAGE>
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