LONDON PACIFIC LIFE & ANNUITY COMPANY
LPLA SEPARATE ACCOUNT ONE
LPT VARIABLE INSURANCE SERIES TRUST -
BERKELEY U.S. QUALITY BOND PORTFOLIO
Supplement dated June 15, 1999 to
Prospectuses dated May 1, 1999
The following information supplements the information in the attached
prospectuses:
London Pacific Life & Annuity Company (London Pacific) proposes to substitute
shares of the Federated Fund for U.S. Government Securities II of Federated
Insurance Series for shares of the Berkeley U.S. Quality Bond Portfolio
(Substitution). London Pacific will file an application with the Securities and
Exchange Commission (Commission) shortly requesting an order approving the
Substitution, and subject to any prior approval by applicable state insurance
authorities, London Pacific and LPLA Separate Account One (Separate Account)
propose to effect the Substitution as soon as is practical.
Prior to the date of the Substitution, you may transfer your Contract value in
the Berkeley U.S. Quality Bond Investment Option to any other Investment Option
of the Separate Account without any limitation or charge being imposed.
Moreover, following the Substitution for a period of 30 days, London Pacific
will permit transfers from the Federated Fund for U.S. Government Securities II
Investment Option to any other Investment Option of the Separate Account
available under your Contract without any limitation or charge being imposed.
After the 30 days, any transfers from the Federated Fund for U.S. Government
Securities Investment Option will be subject to the restrictions described in
the prospectus.
A complete list of all available Portfolios which the Separate Account invests
in is set forth in the Prospectus. You may obtain a Prospectus by writing or
calling London Pacific's Annuity Service Center at the address or telephone
number set forth below.
London Pacific will effect the Substitution by simultaneously placing an order
to redeem the shares of the Berkelely U.S. Quality Bond Portfolio and an order
to purchase shares of the Federated Fund for U.S. Government Securities II.
London Pacific will bear the expenses attributable to the Substitution. London
Pacific will send you a notice within five days after the Substitution.
Annuity Service Center:
P.O. Box 29564
Raleigh, North Carolina 27626
(800) 852-3152
