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File No. 033-95778, 811-09026
Filed under Rule 497(e)
UNITED LIFE & ANNUITY INSURANCE COMPANY
UNITED LIFE & ANNUITY SEPARATE ACCOUNT ONE
WARBURG PINCUS TRUST II-
FIXED INCOME PORTFOLIO
Supplement dated July 14, 2000
United Life & Annuity Insurance Company (ULA) proposes to substitute shares of
the Limited Maturity Bond Portfolio of Neuberger Berman Advisers Management
Trust for shares of the Fixed Income Portfolio of Warburg Pincus Trust II
(Substitution). ULA has filed an application with the Securities and Exchange
Commission (Commission) requesting an order approving the Substitution, and,
subject to any prior approval by applicable state insurance authorities, ULA
and United Life & Annuity Separate Account One (Separate Account) propose to
effect the Substitution as soon as is practical.
Prior to the date of the Substitution, you may transfer your Contract value
in the Fixed Income Portfolio to any other Portfolio available under your
Contract without any limitation or charge being imposed. Moreover, following
the Substitution, for a period of 30 days, ULA will permit transfers from the
Limited Maturity Bond Portfolio to any other available Portfolio under your
Contract without any limitation or charge being imposed. After the 30 days,
any transfers from the Limited Maturity Bond Portfolio will be subject to the
restrictions described in the prospectus.
ULA will effect the Substitution by simultaneously placing an order to redeem
the shares of the Fixed Income Portfolio and an order to purchase shares of
the Limited Maturity Bond Portfolio.
ULA will bear the expenses attributable to the Substitution. ULA will send you
a notice within five days after the Substitution.
United Life & Annuity
Customer Service Center
PO Box 11520
Church Street Station
New York, NY 10286-1520
(800) 632-8153
