<PAGE> PAGE 1
000 B000000 12/31/98
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010 A000001 THE TRAVELERS INSURANCE COMPANY
010 B000001 8-13516
010 C010001 HARTFORD
010 C020001 CT
010 C030001 06183
011 A000001 CFBDS, INC.
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<PAGE> PAGE 2
011 C010001 HARTFORD
011 C020001 CT
011 C030001 06183
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 HARTFORD
013 B020001 CT
013 B030001 06103
014 A000001 PFS DISTRIBUTORS, INC.
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014 A000002 PFS INVESTMENTS INC.
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014 A000003 THE ROBINSON-HUMPHREY COMPANY, INC.
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014 A000004 TOWER SQUARE SECURITIES, INC.
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014 A000005 COPELAND EQUITIES, INC.
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014 A000006 SMITH ANNUITY SERVICES, INC
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014 A000007 TRAVELERS DISTRIBUTION COMPANY
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014 A000008 CITICORP SECURITIES SERVICES, INC.
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014 A000009 CITICORP FINANCIAL SERVICES CORPORATION
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014 A000011 CITICORP SECURITIES, INC.
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014 A000012 SALOMON REINVESTMENT COMPANY INC.
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014 A000015 TRIBECA INVESTMENTS, L.L.C.
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015 C020001 NY
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<PAGE> PAGE 3
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022 A000009 FIRST BOSTON CORP.
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022 C000010 21574
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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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-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 581,986,486
<INVESTMENTS-AT-VALUE> 895,436,085
<RECEIVABLES> 3,562,721
<ASSETS-OTHER> 107,146
<OTHER-ITEMS-ASSETS> 98,146
<TOTAL-ASSETS> 899,204,098
<PAYABLE-FOR-SECURITIES> 2,145,795
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,982,281
<TOTAL-LIABILITIES> 4,128,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 45,945,082
<SHARES-COMMON-PRIOR> 44,738,730
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 895,076,022
<DIVIDEND-INCOME> 10,314,857
<INTEREST-INCOME> 552,622
<OTHER-INCOME> 0
<EXPENSES-NET> 13,453,537
<NET-INVESTMENT-INCOME> (2,586,058)
<REALIZED-GAINS-CURRENT> 95,655,131
<APPREC-INCREASE-CURRENT> 105,075,282
<NET-CHANGE-FROM-OPS> 198,144,355
<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> 217,556,231
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,368,784
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,453,537
<AVERAGE-NET-ASSETS> 773,626,065
<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> 1.81
<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, 1998, 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, 1998.
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.
PricewaterhouseCoopers LLP
Hartford, Connecticut
February 15, 1999
2
1
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