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NEW YORK LIFE LIFESTAGES(SM) VARIABLE ANNUITY
INVESTING IN
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT-III
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SUPPLEMENT DATED SEPTEMBER 9, 1998 TO THE PROSPECTUS DATED MAY 1, 1998
This Supplement describes information relating to individual flexible
premium New York Life LifeStages(SM) Variable Annuity policies ("Policies")
offered by New York Life Insurance and Annuity Corporation ("NYLIAC") to
Pennsylvania residents.
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 September 9, 1998, NYLIAC will issue Policies in Pennsylvania
if both the Owner and Annuitant are not older than age 80. Unless NYLIAC
agrees otherwise, no additional Premium Payments may be made to the Policy
if either the Owner or Annuitant are age 79 or older at the time of
purchase.
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
(A DELAWARE CORPORATION)
51 MADISON AVENUE
NEW YORK, NEW YORK 10010
