<PAGE>
SUPPLEMENT DATED FEBRUARY 1, 2000 TO THE PROSPECTUS DATED
MAY 3, 1999
MINNESOTA LIFE VARIABLE UNIVERSAL LIFE ACCOUNT
The above prospectus is supplemented by the addition of the following underlying
funds:
Janus Aspen Series -- Capital Appreciation Portfolio, Service Shares
Janus Aspen Series -- International Growth Portfolio, Service Shares
Janus Capital serves as the investment adviser to both of the above Portfolios.
Information specific to each of the above Portfolios may be found in a separate
prospectus. You may request a prospectus by calling 1-800-843-8358.
The table identifying fund charges on page 6 is supplemented as follows:
<TABLE>
<CAPTION>
Total annual
fund operating Total annual
expenses Total fund operating
without waivers expenses with
Management Other Distribution waivers or and waivers or
Fund/Portfolio name fee expenses (12b-1) fees reductions (1) reductions reductions (1)
- ------------------- ----------- -------- ------------ --------------- ---------- ---------------
<S> <C> <C> <C> <C> <C> <C>
JANUS ASPEN SERIES
Capital Appreciation
Portfolio --
Service Shares (2) 0.73% 0.04% 0.25% 1.02% 0.07% 0.95%
International Growth
Portfolio --
Service Shares (2) 0.72% 0.09% 0.25% 1.06% 0.06% 1.00%
</TABLE>
(1) The Fund's Adviser has voluntarily agreed to waive certain expenses of the
Portfolios. The waiver arrangements are described in the Fund's prospectus.
(2) Invests in Aspen Series Service Shares which have a distribution plan or
Rule 12b-1 Plan which is described in the Fund's prospectus.
Investors should retain this supplement for future reference.
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F. 54548 2-2000
