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MainStay Variable Annuity
Investing in
NYLIAC Variable Annuity Separate Account-III
Supplement dated August 10, 1998 to the
Prospectus and Statement of Additional Information dated May 1, 1998
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.
The name of the M Edinburgh Overseas Equity Investment Division has been
changed to the M Brandes International Equity Investment Division.
Accordingly, all references to the M Edinburgh Overseas Equity Investment
Division shall be deemed to be references to the M Brandes International
Equity Investment Division. In addition, please note that Brandes
Investment Partners, L.P. will serve as sub-adviser to the M Brandes
International Equity Portfolio.
New York Life Insurance and Annuity Corporation
(A Delaware Corporation)
51 Madison Avenue
New York, New York 10010