<PAGE>
VARIFLEX LS(R) AND VARIFLEX SIGNATURE(R)
================================================================================
ANNUITY VIII
1999 ANNUAL REPORT
[SBL LOGO]
SECURITY BENEFIT LIFE
INSURANCE COMPANY
A Member of The Security Benefit
Group of Companies
<PAGE>
A MESSAGE FROM SECURITY BENEFIT
SECURITY BENEFIT GROUP KNOWS WALL STREET AND MAIN STREET
In 1999, Security Benefit Life Insurance Company had another year of outstanding
financial results. The driving forces behind our tremendous financial
performance were consumers' demand for individual retirement products and the
extension of our money management and customer service competencies.
As consumers focus on their future, they look to SBL as a partner for developing
personal retirement strategies. Our core competencies--money management and
customer service--are very solid and the cornerstone of our stronghold in the
market segments.
SECURITY BENEFIT IS A CLEAR CHOICE
There are many qualities that make partnering with Security Benefit a clear
choice:
* variety of retirement products
* cutting edge service
* pool of flexible and responsive employees
* rich heritage of innovation and creativity
* a rock solid financial foundation
* a strong risk management philosophy
However, if we were asked to capture what makes partnering with SBL a clear
choice in one sentence, here's what we'd say--Security Benefit knows Wall Street
and Main Street.
Wall Street and Main Street are among the most famous streets in America, but
they're known better for their characteristics rather than their location.
Everyone knows that Wall Street is in New York, but Wall Street is more of an
adjective today than it is a noun. What are the characteristics of something
that's Wall Street-like? It's fast paced, risky and high stress.
Likewise, Main Street has become an adjective. The characteristics of something
that's Main Street-like are being friendly, courteous, relaxed, and having a
real interest and concern for your neighbor.
Knowledge of both streets is one of our competitive advantages and it's why we
are positioned for strong growth in the future.
SECURITY BENEFIT KNOWS WALL STREET
Even though SBL operates out of America's Heartland in Topeka, Kansas--the exact
opposite of the Wall Street-like atmosphere--we know Wall Street because of our
experience, technology and people.
EXPERIENCE. We've been in the equities business for a long time. SBL was one of
the first in the industry to introduce a variable annuity and we were on the
front end of the mutual fund explosion.* We're as interested in the return of
customers' investments as we are in the return on customers' investments.
TECHNOLOGY. In today's computer age, we receive financial news and information
at the same time as any other Wall Street professional. When that one important
announcement comes across the wire, we receive the information in real time and
our money managers can react appropriately.
PEOPLE. There's an abundance of investment talent and expertise grown in
America's breadbasket and SBL attracts its fair share. Here, our talent is
moderately insulated from the steady stream of Wall Street noise, so they can
focus on what they do best--manage money.
SECURITY BENEFIT KNOWS MAIN STREET
In order to survive in the financial services industry today, you need to be
good at providing three things:
* products with good performance
* competitive product pricing
* good customer service
But, in order to thrive in the industry, you need to be great at one of those
things.
At Security Benefit, we've got good products with good performance and
competitively priced. But, we've made a conscious decision to be great at
customer service. In 1999, Dalbar, Inc. recognized Security Benefit for its
great customer service--again.
Where does our ability to provide outstanding service stem from? It stems from
everyone at Security Benefit having a deep knowledge of Main Street. Main Street
is part of Americana. Our goal is to provide customers the high-touch,
personalized service you receive when you enter an establishment on Main Street,
USA.
In the year 2000 and beyond, we will invest in initiatives that enhance the
value we offer to customers and make partnering with Security Benefit an even
clearer choice. Thanks for choosing Security Benefit in 1999.
*Variable annuities and mutual funds distributed by Security Distributors, Inc.
<PAGE>
BOARD OF DIRECTORS
HOWARD R. FRICKE
CHAIRMAN OF THE BOARD AND CEO
Security Benefit Life Insurance Company
Topeka, Kansas
KRIS A. ROBBINS
PRESIDENT AND COO
Security Benefit Life Insurance Company
Topeka, Kansas
SISTER LORETTO MARIE COLWELL
PRESIDENT AND CEO
St. Francis Hospital and Medical Center
Topeka, Kansas
JOHN C. DICUS
CHAIRMAN OF THE BOARD
Capitol Federal Savings & Loan Association
Topeka, Kansas
STEVEN J. DOUGLASS
CHAIRMAN AND CEO
Payless ShoeSource
Topeka, Kansas
WILLIAM W. HANNA
VICE CHAIRMAN
Koch Industries
Wichita, Kansas
JOHN E. HAYES, JR.
CHAIRMAN OF THE BOARD AND CEO (Ret.)
Western Resources, Inc.
Topeka, Kansas
FRANK SABATINI
CHAIRMAN OF THE BOARD AND CEO
Capital City Bank
Topeka, Kansas
ROBERT C. WHEELER
CHAIRMAN AND CEO
Hill's Pet Nutrition, Inc.
Topeka, Kansas
NOTICE OF MEETING OF MEMBERS
The annual meeting of members of Security Benefit Mutual Holding Company (the
"Mutual Holding Company") will be held on June 6, 2000, at 700 SW Harrison St.,
Topeka, Kansas, at 1:00 p.m. Each owner of an insurance policy issued by
Security Benefit Life Insurance Company is a member of the Mutual Holding
Company and is entitled to vote, either in person or by proxy, on all matters
coming before the meeting. Proxies are available from the corporate secretary
and must be returned no later than May 31, 2000.
This report is submitted only for the general information of Security Benefit
Life Variable Annuity contractowners and participants and is not authorized for
distribution to the public.
For More Information Call
1-800-888-2461
www.securitybenefit.com
<PAGE>
Report of Independent Auditors
The Contract Owners of Variable Annuity
Account VIII and The Board of Directors of
Security Benefit Life Insurance Company
We have audited the accompanying individual and combined balance sheets of
Variable Annuity Account VIII (comprised of the individual series as indicated
therein) as of December 31, 1999, and the related statements of operations and
changes in net assets for the year then ended, except for those individual
series operating for portions of a period as disclosed in the financial
statements. These financial statements are the responsibility of Security
Benefit Life Insurance Company's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. Our
procedures included confirmation of investments owned as of December 31, 1999,
by correspondence with the transfer agent. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the individual and combined financial position of the
individual series of Variable Annuity Account VIII at December 31, 1999, and the
individual and combined results of their operations and changes in their net
assets for the periods described above in conformity with accounting principles
generally accepted in the United States.
Ernst & Young LLP
February 4, 2000
<PAGE>
VARIABLE ANNUITY ACCOUNT VIII
================================================================================
BALANCE SHEETS DECEMBER 31, 1999
- --------------------------------------------------------------------------------
ASSETS (DOLLARS IN THOUSANDS - EXCEPT PER SHARE AND UNIT VALUES)
Investments:
SBL Fund:
Series A (Growth Series) - 3,931,698 shares at net
asset value of $35.51 per share (cost, $131,345)............... $139,615
Series B (Growth-Income Series) - 2,535,426 shares at
net asset value of $24.39 per share (cost, $70,213)............ 61,840
Series C (Money Market Series) - 2,529,840 shares at
net asset value of $12.04 per share (cost, $31,580)............ 30,460
Series D (Worldwide Equity Series) - 7,291,536 shares
at net asset value of $9.08 per share (cost, $50,226).......... 66,207
Series E (High Grade Income Series) - 3,138,393 shares
at net asset value of $10.55 per share (cost, $36,564)......... 33,110
Series J (Mid Cap Series) - 1,795,683 shares at net
asset value of $30.15 per share (cost, $39,517)................ 54,140
Series K (Global Strategic Income Series) - 431,332 shares
at net asset value of $9.61 per share (cost, $4,306)........... 4,145
Series M (Global Total Return Series) - 1,069,288 shares
at net asset value of $13.09 per share (cost, $13,392)......... 13,997
Series N (Managed Asset Allocation Series) - 2,577,097 shares
at net asset value of $16.94 per share (cost, $40,294)......... 43,656
Series O (Equity Income Series) - 3,754,724 shares at
net asset value of $17.27 per share (cost, $67,179)............ 64,844
Series P (High Yield Series) - 877,852 shares at net
asset value of $15.51 per share (cost, $14,865)................ 13,616
Series S (Social Awareness Series) - 1,422,593 shares at
net asset value of $31.71 per share (cost, $40,819)............ 45,110
Series V (Value Series) - 1,755,522 shares at net
asset value of $16.73 per share (cost, $26,599)................ 29,370
Series X (Small Cap Series) - 955,125 shares at net
asset value of $19.40 per share (cost, $13,468)................ 18,529
Series H (Enhanced Index Series) - 524,023 shares at
net asset value of $11.15 per share (cost, $5,450)............. 5,843
Series I (International Series) - 129,020 shares at
net asset value of $13.00 per share (cost, $1,382)............. 1,677
Series Y (Select 25 Series) - 1,007,296 shares at net
asset value of $12.37 per share (cost, $11,315)................ 12,460
--------
Combined assets...................................................... $638,619
========
See accompanying notes.
<PAGE>
VARIABLE ANNUITY ACCOUNT VIII
================================================================================
BALANCE SHEETS (CONTINUED) DECEMBER 31, 1999
- --------------------------------------------------------------------------------
NET ASSETS (DOLLARS IN THOUSANDS - EXCEPT PER SHARE AND UNIT VALUES)
Net assets are represented by (NOTE 3):
NUMBER UNIT
OF UNITS VALUE AMOUNT
-----------------------------
Growth Series:
Accumulation units.............. 5,225,093 $26.71 $139,589
Annuity units................... 990 26.71 26 $139,615
-------
Growth-Income Series:
Accumulation units.............. 3,145,165 19.65 61,815
Annuity units................... 1,250 19.65 25 61,840
--------
Money Market Series:
Accumulation units.............. 2,554,229 11.89 30,375
Annuity units................... 7,193 11.89 85 30,460
--------
Worldwide Equity Series:
Accumulation units.............. 2,659,740 24.88 66,188
Annuity units................... 786 24.88 19 66,207
--------
High Grade Income Series:
Accumulation units.............. 2,665,337 12.40 33,054
Annuity units................... 4,505 12.40 56 33,110
--------
Mid Cap Series:
Accumulation units.............. 1,782,076 30.38 54,140
Global Strategic Income Series:
Accumulation units.............. 316,616 13.07 4,138
Annuity units................... 511 13.07 7 4,145
--------
Global Total Return Series:
Accumulation units.............. 891,708 15.63 13,936
Annuity units................... 3,898 15.63 61 13,997
--------
Managed Asset Allocation Series:
Accumulation units.............. 2,496,544 17.46 43,597
Annuity units................... 3,351 17.46 59 43,656
--------
Equity Income Series:
Accumulation units.............. 3,406,579 19.00 64,733
Annuity units................... 5,858 19.00 111 64,844
--------
High Yield Series:
Accumulation units.............. 1,097,807 12.35 13,553
Annuity units................... 5,082 12.35 63 13,616
--------
Social Awareness Series:
Accumulation units.............. 1,693,412 26.64 45,110
Value Series:
Accumulation units.............. 1,674,949 17.53 29,354
Annuity units................... 915 17.53 16 29,370
--------
Small Cap Series:
Accumulation units.............. 955,644 19.39 18,529
Enhanced Index Series:
Accumulation units.............. 525,132 11.13 5,843
International Series:
Accumulation units.............. 130,239 12.88 1,677
Select 25 Series:
Accumulation units.............. 1,016,866 12.25 12,460
-------
Combined net assets.................. $638,619
=======
See accompanying notes.
<PAGE>
<TABLE>
VARIABLE ANNUITY ACCOUNT VIII
====================================================================================================================================
STATEMENTS OF OPERATIONS AND
CHANGES IN NET ASSETS YEAR ENDED DECEMBER 31, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
(IN THOUSANDS)(EXCEPT AS NOTED)
<CAPTION>
HIGH
GROWTH- MONEY WORLDWIDE GRADE
GROWTH INCOME MARKET EQUITY INCOME MID CAP
SERIES SERIES SERIES SERIES SERIES SERIES
----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dividend distributions.................................... $ 962 $ 1,317 $ 2,657 $ --- $ 3,984 $ ---
Expenses (NOTE 2):
Mortality and expense risk fee.......................... (1,610) (821) (412) (560) (439) (408)
Administrative fee...................................... (193) (99) (49) (67) (53) (49)
----------------------------------------------------------------------
Net investment income (loss).............................. (841) 397 2,196 (627) 3,492 (457)
Capital gains distributions............................... 3,951 22,439 --- 6,029 --- 5,129
Realized gain (loss) on investments....................... 9,542 (15,786) 133 1,955 (1,114) 1,439
Unrealized appreciation (depreciation) on investments..... (4,690) (7,171) (1,294) 13,769 (4,171) 11,755
----------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments.... 8,803 (518) (1,161) 21,753 (5,285) 18,323
----------------------------------------------------------------------
Net increase (decrease) in net assets resulting from
operations.............................................. 7,962 (121) 1,035 21,126 (1,793) 17,866
Net assets at beginning of year........................... 119,792 61,973 24,170 37,711 31,584 27,973
Variable annuity deposits (NOTES 2 AND 3)................. 96,312 24,141 131,833 30,389 21,282 35,584
Terminations and withdrawals (NOTES 2 AND 3).............. (84,430) (24,103) (126,576) (23,007) (17,926) (27,263)
Annuity payments (NOTES 2 AND 3).......................... (21) (50) (2) (12) (40) (20)
Mortality adjustment...................................... --- --- --- --- 3 ---
----------------------------------------------------------------------
Net assets at end of year................................. $139,615 $ 61,840 $ 30,460 $ 66,207 $ 33,110 $ 54,140
======================================================================
</TABLE>
See accompanying notes.
<PAGE>
<TABLE>
VARIABLE ANNUITY ACCOUNT VIII
====================================================================================================================================
STATEMENTS OF OPERATIONS AND
CHANGES IN NET ASSETS (CONTINUED) YEAR ENDED DECEMBER 31, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
(IN THOUSANDS)(EXCEPT AS NOTED)
<CAPTION>
GLOBAL GLOBAL MANAGED
STRATEGIC TOTAL ASSET EQUITY HIGH SOCIAL
INCOME RETURN ALLOCATION INCOME YIELD AWARENESS
SERIES SERIES SERIES SERIES SERIES SERIES
--------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dividend distributions.................................... $ --- $ 481 $ 1,415 $ 2,166 $ 1,145 $ 198
Expenses (NOTE 2):
Mortality and expense risk fee.......................... (54) (175) (494) (870) (172) (470)
Administrative fee...................................... (6) (20) (59) (104) (21) (56)
--------------------------------------------------------------------
Net investment income (loss).............................. (60) 286 862 1,192 952 (328)
Capital gains distributions............................... 29 1,066 --- 3,569 80 1,275
Realized gain (loss) on investments....................... (156) 120 2,380 2,885 (317) 4,221
Unrealized appreciation (depreciation) on investments..... 163 140 (104) (6,512) (759) 401
--------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments.... 36 1,326 2,276 (58) (996) 5,897
--------------------------------------------------------------------
Net increase (decrease) in net assets resulting from
operations.............................................. (24) 1,612 3,138 1,134 (44) 5,569
Net assets at beginning of year........................... 4,786 14,854 31,197 66,740 11,754 26,286
Variable annuity deposits (NOTES 2 AND 3)................. 1,038 2,288 19,578 22,974 10,480 31,982
Terminations and withdrawals (NOTES 2 AND 3).............. (1,654) (4,742) (10,217) (25,943) (8,563) (18,717)
Annuity payments (NOTES 2 AND 3).......................... (1) (18) (43) (64) (11) (10)
Mortality adjustment...................................... --- 3 3 3 --- ---
--------------------------------------------------------------------
Net assets at end of year................................. $ 4,145 $13,997 $ 43,656 $ 64,844 $13,616 $ 45,110
====================================================================
</TABLE>
See accompanying notes.
<PAGE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
SMALL ENHANCED
VALUE CAP INDEX INTERNATIONAL SELECT 25
SERIES SERIES SERIES* SERIES* SERIES* COMBINED
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dividend distributions.................................... $ 90 $ 7 $ 20 $ --- $ --- $ 14,442
Expenses (NOTE 2):
Mortality and expense risk fee.......................... (276) (76) (18) (5) (37) (6,897)
Administrative fee...................................... (33) (9) (2) (1) (5) (826)
-----------------------------------------------------------------------
Net investment income (loss).............................. (219) (78) --- (6) (42) 6,719
Capital gains distributions............................... 1,081 466 19 --- --- 45,133
Realized gain (loss) on investments....................... 1,038 917 39 26 234 7,556
Unrealized appreciation (depreciation) on investments..... 1,651 4,782 393 295 1,145 9,793
-----------------------------------------------------------------------
Net realized and unrealized gain (loss) on investments.... 3,770 6,165 451 321 1,379 62,482
-----------------------------------------------------------------------
Net increase (decrease) in net assets resulting from
operations.............................................. 3,551 6,087 451 315 1,337 69,201
Net assets at beginning of year........................... 16,615 2,949 --- --- --- 478,384
Variable annuity deposits (NOTES 2 AND 3)................. 16,203 12,402 6,184 1,515 12,364 476,549
Terminations and withdrawals (NOTES 2 AND 3).............. (6,983) (2,909) (792) (153) (1,241) (385,219)
Annuity payments (NOTES 2 AND 3).......................... (16) --- --- --- --- (308)
Mortality adjustment...................................... --- --- --- --- --- 12
-----------------------------------------------------------------------
Net assets at end of year................................. $29,370 $18,529 $5,843 $1,677 $12,460 $ 638,619
=======================================================================
</TABLE>
*For the period May 3, 1999 (inception date) through December 31, 1999
See accompanying notes.
<PAGE>
VARIABLE ANNUITY ACCOUNT VIII
================================================================================
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1999
1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
ORGANIZATION -- Variable Annuity Account VIII (the Account) is a separate
account of Security Benefit Life Insurance Company (SBL). The Account is
registered as a unit investment trust under the Investment Company Act of
1940, as amended. Deposits received by the Account are invested in the SBL
Fund, a mutual fund not otherwise available to the public. As directed by
the owners, amounts deposited may be invested in shares of Series A (Growth
Series - emphasis on capital appreciation), Series B (Growth-Income Series -
emphasis on capital appreciation with secondary emphasis on income), Series
C (Money Market Series - emphasis on capital preservation while generating
interest income), Series D (Worldwide Equity Series - emphasis on long-term
capital growth through investment in foreign and domestic common stocks and
equivalents), Series E (High Grade Income Series - emphasis on current
income with security of principal), Series J (Mid Cap Series - emphasis on
capital appreciation), Series K (Global Strategic Income Series - emphasis
on high current income with secondary emphasis on capital appreciation),
Series M (Global Total Return Series - emphasis on high total return
consisting of capital appreciation and current income), Series N (Managed
Asset Allocation Series - emphasis on high level of total return), Series O
(Equity Income Series - emphasis on substantial dividend income and capital
appreciation), Series P (High Yield Series - emphasis on high current income
with secondary emphasis on capital appreciation through investment in higher
yielding, higher risk debt securities), Series S (Social Awareness Series -
emphasis on capital appreciation), Series V (Value Series - emphasis on
long-term growth of capital), Series X (Small Cap Series - emphasis on
long-term growth of capital), Series H (Enhanced Index Series - emphasis on
capital appreciation consistent with performance of the Standard & Poor's
500 Composite Index), Series I (International Series - emphasis on long-term
capital appreciation from investment in foreign equity securities) and
Series Y (Select 25 Series - emphasis on long-term capital appreciation from
a concentration of 20 to 30 common stocks). During 1999, The former Emerging
Growth Series, Global Aggressive Bond Series and Specialized Asset
Allocation Series were renamed Mid Cap Series, Global Strategic Income
Series, and Global Total Return Series, respectively.
Under the terms of the investment advisory contracts, portfolio investments
of the underlying mutual fund are made by Security Management Company, LLC
(SMC), a limited liability company controlled by its members, SBL and
Security Benefit Group, Inc., a wholly-owned subsidiary of SBL.
SMC has engaged T. Rowe Price Associates, Inc. to provide sub-advisory
services for the Managed Asset Allocation Series and the Equity Income
Series; Strong Capital Management, Inc. to provide sub-advisory services for
the Small Cap Series; OppenheimerFunds, Inc. to provide sub-advisory
services for the Worldwide Equity Series and Banker's Trust Company to
provide sub-advisory services for the Enhanced Index Series and the
International Series. Meridian Investment Management Corporation (Meridian)
served as subadvisor for the Global Strategic Income Series and the Global
Total Return Series until May 15, 1999, when Meridian was replaced by
Wellington Management.
INVESTMENT VALUATION -- Investments in mutual fund shares are carried in the
balance sheet at market value (net asset value of the underlying mutual
fund). The first-in, first-out cost method is used to determine gains and
losses. Security transactions are accounted for on the trade date.
The cost of investments purchased and proceeds from investments sold for the
year ended December 31 were as follows (In Thousands):
COST OF PROCEEDS
PURCHASES FROM SALES
--------- ----------
Growth Series...................... $110,294 $95,323
Growth-Income Series............... 51,329 28,505
Money Market Series................ 46,835 39,384
Worldwide Equity Series............ 38,609 25,837
High Grade Income Series........... 27,128 20,320
Mid Cap Series..................... 43,340 30,367
Global Strategic Income Series..... 1,176 1,824
Global Total Return Series......... 4,004 5,125
Managed Asset Allocation Series.... 23,307 13,127
Equity Income Series............... 31,491 29,763
High Yield Series.................. 12,251 9,312
Social Awareness Series............ 36,615 22,413
Value Series....................... 18,676 8,611
Small Cap Series................... 13,575 3,694
Enhanced Index Series.............. 6,451 1,040
International Series............... 1,558 202
Select 25 Series................... 12,962 1,881
ANNUITY RESERVES -- Annuity reserves relate to contracts that have matured
and are in the payout stage. Such reserves are computed on the basis of
published mortality tables using assumed interest rates that will provide
reserves as prescribed by law. In cases where the payout option selected is
life contingent, SBL periodically recalculates the required annuity
reserves, and any resulting adjustment is either charged or credited to SBL
and not to the Account.
REINVESTMENT OF DIVIDENDS -- Dividend and capital gains distributions paid
by the mutual fund to the Account are reinvested in additional shares of
each respective series. Dividend income and capital gains distributions are
recorded as income on the ex-dividend date.
FEDERAL INCOME TAXES -- The operations of the Account are a part of the
operations of SBL. Under current law, no federal income taxes are allocated
by SBL to the operations of the Account.
USE OF ESTIMATES -- The preparation of financial statements in conformity
with accounting principles generally accepted in the United States requires
management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying notes. Actual results
could differ from those estimates.
2. VARIABLE ANNUITY CONTRACT CHARGES
SBL deducts an administrative fee equivalent to an annual rate of 0.15% of
the average daily net asset value of each account. Mortality and expense
risks assumed by SBL are compensated for by a fee equivalent to an annual
rate of 1.25% of the net asset value of each contract, of which 0.7% is for
assuming mortality risks and the remainder is for assuming expense risks.
When applicable, an amount for state premium taxes is deducted as provided
by pertinent state law either from the purchase payments or from the amount
applied to effect an annuity at the time annuity payments commence.
3. SUMMARY OF UNIT TRANSACTIONS (IN THOUSANDS)
UNITS
-----
Growth Series:
Variable annuity deposits........................ 3,779
Terminations, withdrawals and expense charges.... 3,333
Growth-Income Series:
Variable annuity deposits........................ 1,166
Terminations, withdrawals and expense charges.... 1,184
Money Market Series:
Variable annuity deposits........................ 11,277
Terminations, withdrawals and expense charges.... 10,815
Worldwide Equity Series:
Variable annuity deposits........................ 1,632
Terminations, withdrawals and expense charges.... 1,266
High Grade Income Series:
Variable annuity deposits........................ 1,677
Terminations, withdrawals and expense charges.... 1,424
Mid Cap Series:
Variable annuity deposits........................ 1,636
Terminations, withdrawals and expense charges.... 1,323
Global Strategic Income Series:
Variable annuity deposits........................ 81
Terminations, withdrawals and expense charges.... 129
Global Total Return Series:
Variable annuity deposits........................ 158
Terminations, withdrawals and expense charges.... 331
Managed Asset Allocation Series:
Variable annuity deposits........................ 1,181
Terminations, withdrawals and expense charges.... 615
Equity Income Series:
Variable annuity deposits........................ 1,177
Terminations, withdrawals and expense charges.... 1,336
High Yield Series:
Variable annuity deposits........................ 841
Terminations, withdrawals and expense charges.... 689
Social Awareness Series:
Variable annuity deposits........................ 1,316
Terminations, withdrawals and expense charges.... 764
Value Series:
Variable annuity deposits........................ 1,002
Terminations, withdrawals and expense charges.... 437
Small Cap Series:
Variable annuity deposits........................ 906
Terminations, withdrawals and expense charges.... 231
Enhanced Index Series:
Variable annuity deposits........................ 600
Terminations, withdrawals and expense charges.... 75
International Series:
Variable annuity deposits........................ 144
Terminations, withdrawals and expense charges.... 14
Select 25 Series:
Variable annuity deposits........................ 1,126
Terminations, withdrawals and expense charges.... 109
