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PANORAMA PREMIER
Supplement dated April 3, 2000
to the prospectus dated May 1, 1999
On March 3, 2000, C.M. Life Insurance Company ("CM Life") and several other
applicants filed an application with the Securities and Exchange Commission
("SEC") seeking an order approving the substitution of shares of certain funds
currently held by various sub-accounts of C.M. Multi-Account A. Specifically, CM
Life proposes to substitute:
1. Shares of Oppenheimer Multiple Strategies Fund/VA for shares of Panorama
LifeSpan Balanced Portfolio which are currently held in the Panorama
LifeSpan Balanced Sub-Account;
2. Shares of Oppenheimer Main Street (R) Growth & Income Fund/VA for shares
of Panorama LifeSpan Capital Appreciation Portfolio which are currently
held in the Panorama LifeSpan Capital Appreciation Sub-Account; and
3. Shares of MML Blend Fund for shares of Panorama LifeSpan Diversified
Income Portfolio which are currently held in the Panorama LifeSpan
Diversified Income Sub-Account.
The Oppenheimer Main Street(R) Growth & Income Fund/VA and the MML Blend Fund
currently serve as investment options for Panorama Premier contract owners. The
investment objectives of the Oppenheimer Multiple Strategies Fund/VA, the
Oppenheimer Main Street(R) Growth & Income Fund/VA and the MML Blend Fund are
summarized below. Panorama Premier contract owners will receive a copy of the
fund prospectuses before the substitutions are implemented. Please read the
prospectuses for these funds carefully.
Oppenheimer Multiple Strategies Fund/VA seeks a total investment
return, which includes current income and capital appreciation in the
value of its shares. This Fund allocates its investments among common
stocks, debt securities, and money market instruments.
Oppenheimer Main Street(R) Growth & Income Fund/VA seeks total return,
which includes growth in the value of its shares as well as current
income, from equity and debt securities.
MML Blend Fund seeks to achieve as high a level of total rate of return
over an extended period of time as is considered consistent with
prudent investment risk and the preservation of capital by investing in
equity, fixed income, and money market securities.
To the extent required by law, CM Life will obtain approval of these proposed
substitutions from the state insurance departments in certain jurisdictions. If
the proposed substitutions are approved by the necessary regulatory authorities,
CM Life would implement the proposed substitutions by having the affected
sub-accounts redeem its shares of the Panorama LifeSpan Portfolios and purchase
with the proceeds shares of the Oppenheimer Multiple Strategies Fund/VA, the
Oppenheimer Main Street(R) Growth & Income Fund/VA, and the MML Blend Fund. If
implemented, the proposed substitutions would result in the involuntary
reinvestment of contract value, if any, invested in the Panorama LifeSpan
Portfolios in the Oppenheimer Multiple Strategies Fund/VA, the Oppenheimer Main
Street(R) Growth & Income Fund/VA, and the MML Blend Fund as described above.
The costs of the proposed substitutions will be borne by CM Life, not the
Panorama Premier contract owners.
From the date of this supplement to the date the proposed substitutions are
implemented, CM Life will permit each contract owner to make one transfer of all
of his/her contract value in any of the Panorama LifeSpan Sub-Accounts without
that transfer counting as one of the 12 free transfers permitted in a contract
year.
Once CM Life obtains all of the necessary regulatory approvals of the proposed
substitution, CM Life will send Panorama Premier contract owners another
notification indicating that fact and identifying an implementation date for the
substitution. If CM Life cannot obtain all of the necessary regulatory
approvals, CM Life will notify Panorama Premier contract owners that the
proposed substitution will not be implemented.
April 3, 2000
