<PAGE>
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
______________________________________________________________________________
1. Name and address of issuer:
Alexander Hamilton Variable Insurance Trust
100 North Greene Street
Greensboro, NC 27401
______________________________________________________________________________
2. Name of each series or class of funds for which this notice is filed:
Investment Grade Bond Fund
High Yield Bond Fund
Balanced Fund
Growth & Income Fund
Growth Fund
Emerging Growth Fund
International Equity Fund
______________________________________________________________________________
3. Investment Company Act File Number: 811-8682
Securities Act File Number: 33-81658
______________________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1996
______________________________________________________________________________
5. Check box if this notice is being filed more than 180 days after the close
of the issuer's fiscal year for purposes of reporting securities sold
after the close of the fiscal year but before termination of the issuer's
24f-2 declaration:
/ /
______________________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see instruction A.6):
______________________________________________________________________________
7. Number and amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule
24f-2 in a prior fiscal year, but which remained unsold at the beginning
of the fiscal year:
0 (zero) Shares
______________________________________________________________________________
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
0 (zero) Shares
______________________________________________________________________________
9. Number and aggregate sale price of securities sold during the fiscal
year:
Shares Dollars
------ -------
Investment Grade Bond Fund 300,000 $ 3,000,000
High Yield Bond Fund 200,000 2,000,000
Balanced Fund 400,000 4,000,000
Growth & Income Fund 500,000 5,000,000
Growth Fund 500,000 5,000,000
Emerging Growth Fund 500,000 5,000,000
International Equity Fund 500,000 5,000,000
--------- -----------
TOTAL 2,900,000 $29,000,000
_____________________________________________________________________________
<PAGE>
______________________________________________________________________________
10. Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2.
Shares Dollars
------ -------
Investment Grade Bond Fund 300,000 $ 3,000,000
High Yield Bond Fund 200,000 2,000,000
Balanced Fund 400,000 4,000,000
Growth & Income Fund 500,000 5,000,000
Growth Fund 500,000 5,000,000
Emerging Growth Fund 500,000 5,000,000
International Equity Fund 500,000 5,000,000
--------- -----------
TOTAL 2,900,000 $29,000,000
______________________________________________________________________________
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
instruction B.7):
0 (zero) Shares
______________________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during +29,000,000
the fiscal year in reliance on rule 24f-2 ___________________
(from Item 10):
(ii) Aggregate price of shares issued in connection + 0
with dividend reinvestment plans (from Item 11, ___________________
if applicable):
(iii) Aggregate price of shares redeemed or repurchased - 0
during the fiscal year (if applicable): ___________________
(iv) Aggregate price of shares redeemed or repurchased + 0
and previously applied as a reduction to filing ___________________
fees pursuant to rule 24e-2 (if applicable):
(v) Net aggregate price of securities sold and issued 29,000,000
during the fiscal year in reliance on rule 24f-2 ___________________
line (i), plus line (ii), less line (iii), plus
line (iv) (if applicable):
(vi) Multiplier prescribed by Section 6(b) of the x1/3300
Securities Act of 1933 or other applicable law or ___________________
regulation (see instruction C.6):
(vii) Fee due (line (i) or line (v) multiplied by $ 8,787.88
line (vi)): ___________________
INSTRUCTION: ISSUERS SHOULD COMPLETE LINES (ii), (iii), (iv), AND (v) ONLY IF
THE FORM IS BEING FILED WITHIN 60 DAYS AFTER THE CLOSE OF THE
ISSUER'S FISCAL YEAR. See Instruction C.3.
_______________________________________________________________________________
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in Section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
/X/
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
February 24, 1987
_______________________________________________________________________________
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)*_______________________________________________
J. Gregory Poole, Secretary
_______________________________________________
Date February 25, 1997
________________________
*Please print the name and title of the signing officer below the signature.
_______________________________________________________________________________
<PAGE>
February 25, 1997
Alexander Hamilton Variable Insurance Trust
32991 Hamilton Court
Farmington Hills, MI 48334
Gentlemen:
In connection with the public offering of the no par value shares of Alexander
Hamilton Variable Insurance Trust, a business trust organized under the laws of
the Commonwealth of Massachusetts (the "Trust"), as counsel for the Trust, I
have examined such records and documents and have made such further
investigation and examination as I deem necessary for the purpose of this
opinion.
As of the end of its fiscal year, the Trust was composed of seven separate
series, the Investment Grade Bond Fund, the High Yield Bond Fund, the Balanced
Fund, the Growth & Income Fund, the Growth Fund, the Emerging Growth Fund, and
the International Equity Fund. Each series sells its shares separately to
separate accounts offered by Alexander Hamilton Life Insurance Company of
America and Jefferson-Pilot Life Insurance Company pursuant to separate
registration statements and prospectuses.
I am advised that during the year ending December 31, 1996, the following shares
of beneficial interest in each series of the Trust were sold in reliance on the
registration of an indefinite number of shares pursuant to Rule 24f-2 of the
Investment Company Act of 1940:
Investment Grade High Yield Balanced Fund
Bond Fund Bond Fund
- ---------------- ---------- -------------
300,000 200,000 400,000
Growth & Income Growth Fund Emerging Growth Fund
Fund
- --------------- ----------- --------------------
500,000 500,000 500,000
<PAGE>
International Equity Fund
- -------------------------
500,000
It is my opinion that the said shares of beneficial interest in each series
sold by the Trust in reliance on Rule 24f-2 of the Investment Company Act of
1940 are legally issued and, subject to the matters mentioned in the next
paragraph, fully paid and nonassessable by the Trust.
Under Massachusetts law, shareholders of the Trust may, under certain
circumstances, be held personally liable as partners for the obligations of the
Trust. The Declaration of Trust does, however, contain an express disclaimer of
shareholder liability for acts or obligations of the Trust. The Declaration of
Trust provides for indemnification out of the trust property of any shareholder
held personally liable for the obligations of the Trust. The Declaration of
Trust also provides that the Trust shall, upon request, assume the defense of
any claim made against any shareholder for any act or obligation of the Trust
and satisfy any judgement thereon.
Sincerely,
/s/ J. Gregory Poole
J. Gregory Poole
