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STRATEGIC PARTNERS ANNUITY ONE(SM)
VARIABLE ANNUITY
SUPPLEMENT DATED SEPTEMBER 18, 2000
TO PROSPECTUS DATED SEPTEMBER 18, 2000
This document is a supplement to the prospectus dated September 18, 2000
for the Strategic Partners Annuity One variable annuity. This supplement must be
accompanied by the prospectus.
As described in the prospectus, if you purchase the Contract With Credit,
we will add a bonus credit to each purchase payment that you make. We have
sought an order from the Securities and Exchange Commission (the "SEC") that
will permit us, as described in the prospectus, to take back part or all of the
credit corresponding to a purchase payment if you withdraw that purchase payment
prior to the seventh contract anniversary after making it. Until the SEC grants
that order, however, we will take back the credit only if you return your
contract during the free look period. Once the SEC grants the order, we will
take back the credit as described in the prospectus. We expect that the SEC will
grant the order in late September 2000, although we cannot be sure that the SEC
will do so.
Until the SEC grants the order, the special rules described below will
apply regarding the amount you will receive if you return the Contract With
Credit during the free look period. These rules do not apply to the Contract
Without Credit.
If your contract value has increased or stayed the same, we will refund
your contract value minus any credit but plus any insurance and administrative
charge that we deducted on or before the date we receive your contract.
If your contract value has decreased, we will refund your contract value
minus any credit but plus any insurance and administrative charge and plus any
investment loss (including any charges made by the funds in which you have
invested) attributable to the credit as of the date we receive your contract.
This means you receive any gains, and we bear any losses, attributable to
the credit during the free look period.
In those states that require it, we will refund the full amount of your
purchase payment if it is more than the amount specified above.
We will not assess a withdrawal charge, a guaranteed minimum income benefit
charge, or an annual contract charge if you return the contract during the free
look period.
SPASUPP1
