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000 B000000 12/31/97
000 C000000 0000099444
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000 F000000 Y
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000 J000000 A
001 A000000 THE TRAVELERS GROWTH AND INCOME STOCK ACCOUNT
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001 C000000 8602774519
002 A000000 ONE TOWER SQUARE
002 B000000 HARTFORD
002 C000000 CT
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008 B000001 A
008 C000001 801-07212
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008 D020001 CT
008 D030001 06183
010 A000001 THE TRAVELERS INSURANCE COMPANY
010 B000001 8-13516
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010 C020001 CT
010 C030001 06183
011 A000001 TOWER SQUARE SECURITIES, INC.
011 B000001 8-13572
011 C010001 HARTFORD
011 C020001 CT
011 C030001 06183
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 HARTFORD
013 B020001 CT
<PAGE> PAGE 2
013 B030001 06103
014 A000001 PFS DISTRIBUTORS, INC.
014 B000001 8-37352
014 A000002 PFS INVESTMENTS INC.
014 B000002 8-26486
014 A000003 THE ROBINSON-HUMPHREY COMPANY, INC.
014 B000003 8-27190
014 A000004 THE TRAVELERS INSURANCE COMPANY
014 B000004 8-13516
014 A000005 TOWER SQUARE SECURITIES, INC.
014 B000005 8-13752
014 A000006 COPELAND EQUITIES, INC.
014 B000006 8-21009
014 A000007 SMITH BARNEY INC.
014 B000007 8-8177
014 A000008 SALOMON BROTHERS INC.
014 B000008 8-26920
014 A000009 SMITH ANNUITY SERVICES, INC.
014 B000009 8-14495
015 A000002 THE CHASE MANHATTAN BANK, N.A.
015 B000002 C
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015 C020002 NY
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020 A000006 C.L. GLAZER & CO.
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020 A000007 LEHMAN BROTHERS, INC.
020 C000007 33
020 A000008 INSTINET
020 C000008 30
020 A000009 STANDARD & POORS
020 C000009 29
020 A000010 CANTOR FITZGERALD & CO.
020 C000010 29
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<PAGE> PAGE 3
022 A000001 J.P. MORGAN SECURITIES
022 C000001 670292
022 D000001 0
022 A000002 MORGAN STANLEY & CO. INC.
022 C000002 193379
022 D000002 14144
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022 C000003 57629
022 D000003 43854
022 A000004 SMITH BARNEY INC.
022 C000004 61727
022 D000004 21158
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022 C000005 21040
022 D000005 45825
022 A000006 BEAR STEARNS FACTSET
022 C000006 34807
022 D000006 30305
022 A000007 AUTRANET, INC.
022 C000007 32381
022 D000007 19629
022 A000008 CHASE SECURITIES, INC.
022 C000008 33156
022 D000008 10480
022 A000009 LEHMAN BROTHERS, INC.
022 C000009 26214
022 D000009 15167
022 A000010 INSTINET
022 C000010 19289
022 D000010 15429
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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SIGNATURE IAN STUART
TITLE CFO LIFE & ANNUITY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 467,139,176
<INVESTMENTS-AT-VALUE> 675,513,493
<RECEIVABLES> 10,506,717
<ASSETS-OTHER> 42,941
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 686,063,151
<PAYABLE-FOR-SECURITIES> 7,260,555
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,282,805
<TOTAL-LIABILITIES> 8,543,360
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 44,738,730
<SHARES-COMMON-PRIOR> 44,131,311
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 677,519,791
<DIVIDEND-INCOME> 9,919,601
<INTEREST-INCOME> 336,447
<OTHER-INCOME> 0
<EXPENSES-NET> 9,740,747
<NET-INVESTMENT-INCOME> 515,301
<REALIZED-GAINS-CURRENT> 80,067,798
<APPREC-INCREASE-CURRENT> 80,794,664
<NET-CHANGE-FROM-OPS> 161,377,763
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 169,263,458
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,723,508
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,740,747
<AVERAGE-NET-ASSETS> 600,242,710
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Managers and Owners of
Variable Annuity Contracts of
The Travelers Growth and Income Stock Account for
Variable Annuities:
In planning and performing our audit of the financial statements,
per unit data and ratios of The Travelers Growth and Income
Stock Account for Variable Annuities for the year ended
December 31, 1997, we considered its internal control,
including control over safeguarding securities, in order to
determine our auditing procedures for the purpose of
expressing our opinion on the financial statements, per unit data
and ratios, and to comply with the requirements of Form N-
SAR, not to provide assurance on internal control.
The management of The Travelers Growth and Income Stock
Account for Variable Annuities is responsible for establishing
and maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements, per unit data and
ratios for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal controls, errors or
fraud may occur and may not be detected. Also, projection of
any evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of any specific
internal control component does not reduce to a relatively low
level the risk that errors or fraud in amounts that would be
material in relation to the financial statements, per unit data and
ratios being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters
involving internal control, including controls over safeguarding
securities, that we consider to be material weaknesses as
defined above as of December 31, 1997.
This report is intended solely for the information and use of
management of The Travelers Growth and Income Stock
Account for Variable Annuities and the Securities and
Exchange Commission.
COOPERS & LYBRAND L.L.P.
Hartford, Connecticut
February 19, 1998
