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MainStay Plus Variable Annuity
Investing in
NYLIAC Variable Annuity Separate Account-III
Supplement Dated December 3, 1999 to Prospectus Dated May 1, 1999
This supplement describes an increase in the amount you may withdraw
without a surrender charge from MainStay Plus Variable Annuity policies issued
by New York Life Insurance and Annuity Corporation ("NYLIAC").
The prospectus for the policies should be read in light of the following
change:
As of December 3, 1999, NYLIAC will not assess a surrender charge on
amounts you withdraw in any one Policy Year which are less than or equal to the
greater of (i) 10% of the Accumulation Value or (ii) the Accumulation Value less
accumulated premium payments.
This supplement provides information that you should know before you
invest in the policies. You should read this supplement carefully and retain it
for future reference. This supplement is not valid unless it is accompanied by a
current prospectus for the policies. The terms we use in this supplement have
the same meanings as in the prospectus for the policies.
New York Life Insurance and Annuity Corporation
(A Delaware Corporation)
51 Madison Avenue
New York, New York 10010
