Supplement dated November 23, 1999*
to the Prospectus dated November 23, 1999
of Wells Fargo AdvantageSM Credit Variable Annuity 44224-10 A (11/99)
We are applying for an exemptive order of the Securities and Exchange Commission
that would permit us to administer the contract's terms relating to recovery of
certain purchase payment credits upon
o exercise of free look rights,
o payment of death benefits within twelve months of a purchase payment, or
o payment of benefits due to "Contingent events" within twelve months of a
purchase payment
in the way described in this Prospectus. There is no assurance that such relief
will be granted. Prior to receiving the requested order, the following
provisions will apply:
The paragraph under "The Contract in Brief" entitled "Free look period" is
deleted in its entirety and replaced with the following paragraph:
You may return your contract to our office within 10 days after it is
delivered to you and receive a full refund of your purchase payments
or, if greater, we will refund the contract value less the amount of
any purchase payment credits. (See, "Buying Your Contract - Purchase
payment credits.")
The following three sections of the prospectus refer to potential reversal of
purchase payment credits:
o the section under " Buying Your Contract " entitled "Purchase payment
credits;"
o the section under "Charges" entitled "Waiver of withdrawal charges;" and
o the section under "Benefits in Case of Death" entitled "Payments."
Each of these sections is modified by adding the following to each section:
We currently are waiving our contractual right to reverse purchase
payment credits applied within twelve months of death or a request for
withdrawal charge waiver due to "Contingent events," as defined in the
applicable section.
44224-10 A (11/99)
*Valid until further notice.
