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LifeStages(R) Variable Annuity
Investing in
NYLIAC Variable Annuity Separate Account-III
Supplement Dated August 4, 2000 to Prospectus dated May 1, 2000
The purpose of this supplement is to correct a printing error in the May 1,
2000 prospectus for the LifeStages(R) Variable Annuity policies ("policies").
Please 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.
On page 29 of the prospectus, the first paragraph under section (c) Periodic
Partial Withdrawals is changed as follows:
You may elect to receive regularly scheduled withdrawals from
the policy. These periodic partial withdrawals may be paid on a
monthly, quarterly, semi-annual, or annual basis. You will elect the
frequency of the withdrawals and the day of the month for the
withdrawals to be made (may not be the 29th, 30th, or 31st of a
month). We will make all withdrawals on the day of each calendar month
you specify, or on the next Business Day (if the day you have
specified is not a Business Day). You must specify the Investment
Divisions and/or Fixed Account from which the periodic withdrawals
will be made. The minimum amount under this feature is $100, or such
lower amount as we may permit. Periodic partial withdrawals may be
taxable transactions and the 10% penalty tax provisions may be
applicable. (See "Federal Tax Matters - Taxation of Annuities in
General" at page 35.) If you do not specify otherwise, we will
withdraw money on a pro-rata basis from each Investment Division
and/or the Fixed Account. You may not elect to receive periodic
partial withdrawals from the DCA Advantage Plan Accounts.
