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MAINSTAY VARIABLE ANNUITY
INVESTING IN
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT - III
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SUPPLEMENT DATED FEBRUARY 2, 1998 TO PROSPECTUS DATED MAY 1, 1997
This Supplement describes an administrative change relating to
individual flexible premium MainStay annuity policies ("Policies") offered by
New York Life Insurance and Annuity Corporation ("NYLIAC") through banks,
thrifts, and savings and loan associations. This Supplement provides
information that a prospective investor should know before investing. Please
read it carefully and retain it for future reference. This Supplement is not
valid unless accompanied by the current prospectus for the Policies ("Policy
Prospectus"). Defined terms used but not defined in this Supplement have the
same meanings as in the Policy Prospectus.
Effective February 2, 1998, NYLIAC is changing the address to which
Premium Payments for the MainStay Variable Annuity sold through banks, thrifts,
and savings and loan associations should be directed. Accordingly, Premium
Payments for Policies sold through banks, thrifts, and savings and loan
associations should not be directed to the addresses set forth in the second
paragraph under the subheading entitled "Policy Application and Premium
Payments" on page 21 and in the second paragraph under the subheading entitled
"Accumulation Period" on page 25. The new address for such Premium Payments is
NYLIAC, P. O. Box 8500-7230, Philadelphia, PA 19176-7230.
New York Life Insurance and Annuity Corporation
(A Delaware Corporation)
51 Madison Avenue
New York, New York 10010
