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MAINSTAY PLUS VARIABLE ANNUITY
INVESTING IN
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT - III
SUPPLEMENT DATED NOVEMBER 1, 2000 TO PROSPECTUS DATED MAY 1, 2000
FOR USE IN OREGON ONLY
This supplement provides information that you should know before you
invest in the polices. 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.
1. On page 30, under the section "(e) Rider Risk Charge Adjustment
(optional)" add the following at the beginning of the first paragraph:
The Rider Risk Charge Adjustment does not apply to policies issued in
Oregon. For Oregon policies, please disregard all references to the
Rider Risk Charge Adjustment throughout the prospectus.
2. On page 37, add the following before the first full paragraph:
In Oregon, where this rider is called the Accumulation Value
Protection Plan, the amount guaranteed is computed in the same manner
described above.
3. On page 37, the fifth sentence in the second full paragraph is changed
to read as follows:
However, to the extent permitted by state law, we will deduct a Rider
Risk Charge Adjustment from your Accumulation Value and we will not
refund any Investment Protection Plan Rider charge which may have
been deducted.
New York Life Insurance and Annuity Corporation
(A Delaware Corporation)
51 Madison Avenue
New York, New York 10010
