485BPOS 1 file002.txt POST-EFFECTIVE AMENDMENT Registration No. 333-81393 Registration No. 811-1705 -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------------------ FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [ ] Pre-Effective Amendment No. [ ] Post-Effective Amendment No. 3 [ X ] AND/OR REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [ X ] Amendment No. 91 (Check appropriate box or boxes) -------------------------------- SEPARATE ACCOUNT A of THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Exact Name of Registrant) -------------------------- THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Name of Depositor) 1290 Avenue of the Americas, New York, New York 10104 (Address of Depositor's Principal Executive Offices) Depositor's Telephone Number, including Area Code: (212) 554-1234 -------------------------- ROBIN WAGNER VICE PRESIDENT AND COUNSEL The Equitable Life Assurance Society of the United States 1290 Avenue of the Americas, New York, New York 10104 (Names and Addresses of Agents for Service) -------------------------- Please send copies of all communications to: PETER E. PANARITES Foley & Lardner Washington Harbour 3000 K Street, Northwest Washington, D.C. 20007 -------------------------- Approximate Date of Proposed Public Offering: Continuous. It is proposed that this filing will become effective (check appropriate box): [ ] Immediately upon filing pursuant to paragraph (b) of Rule 485. [ X ] On (May 1, 2001) pursuant to paragraph (b) of Rule 485. [ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485. [ ] On (date) pursuant to paragraph (a)(1) of Rule 485. [ ] 75 days after filing pursuant to paragraph (a)(2) of Rule 485. [ ] On (date) pursuant to paragraph (a)(3) of Rule 485. If appropriate, check the following box: [ ] This post-effective amendment designates a new effective date for previously filed post-effective amendment. --------------------------- Title of Securities Being Registered: Units of interest in Separate Account under variable annuity contracts. EQUI-VEST(R) EXPRESS A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2001 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. Also, at the end of this prospectus you will find attached the prospectus for EQ Advisors Trust which contains important information about its portfolios. -------------------------------------------------------------------------------- WHAT IS EQUI-VEST EXPRESS? EQUI-VEST Express is a deferred annuity contract issued by THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES. It provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options or in our fixed maturity options ("investment options"). This contract may not currently be available in all states. -------------------------------------------------------------------------------- VARIABLE INVESTMENT OPTIONS* -------------------------------------------------------------------------------- FIXED INCOME: -------------------------------------------------------------------------------- o EQ/Alliance High Yield o EQ/Alliance Money Market o EQ/Alliance Intermediate o EQ/Alliance Quality Bond Government Securities -------------------------------------------------------------------------------- DOMESTIC STOCKS -------------------------------------------------------------------------------- o EQ/Aggressive Stock o EQ Equity 500 Index(2) o EQ/Alliance Common Stock o EQ/Evergreen Omega(3) o EQ/Alliance Growth and Income o EQ/FI Mid Cap o EQ/Alliance Premier Growth o EQ/FI Small/Mid Cap Value(4) o EQ/Alliance Small Cap Growth o EQ/Janus Large Cap Growth o EQ/Alliance Technology o EQ/Mercury Basic Value Equity o EQ/AXP New Dimensions o EQ/MFS Emerging Growth Companies o EQ/AXP Strategy Aggressive o EQ/MFS Investors Trust(5) o EQ/Bernstein Diversified Value(1) o EQ/MFS Research o EQ/Capital Guardian Research o EQ/Putnam Growth & Income o EQ/Capital Guardian U.S. Equity Value -------------------------------------------------------------------------------- INTERNATIONAL STOCKS -------------------------------------------------------------------------------- o EQ/Alliance Global o EQ/Morgan Stanley Emerging Markets Equity o EQ/Alliance International o EQ/T. Rowe Price International Stock -------------------------------------------------------------------------------- BALANCED/HYBRID -------------------------------------------------------------------------------- o EQ/Alliance Growth Investors o EQ/Balanced
* Effective on May 18, 2001, all of the names of the variable investment options will include "EQ/." (1) Available on or about May 18, 2001. (2) Formerly named "Alliance Equity Index." (3) Formerly named "EQ/Evergreen." (4) Formerly named "Warburg Pincus Small Company Value." (5) This reflects the name change of the MFS Growth with Income option, effective May 18, 2001. You may allocate amounts to any of the variable investment options. Each variable investment option is a subaccount of our Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio of EQ Advisors Trust. Your investment results in a variable investment option will depend on the investment performance of the related portfolio. FIXED MATURITY OPTIONS. You may allocate amounts to one or more fixed maturity options. These amounts will receive a fixed rate of interest for a specified period. Interest is earned at a guaranteed rate set by us. We make a market value adjustment (up or down) if you make transfers or withdrawals from a fixed maturity option before its maturity date. TYPES OF CONTRACTS. We offer the contracts for use as: o A nonqualified annuity ("NQ") for after-tax contributions only o An individual retirement annuity ("IRA"), either Traditional IRA or Roth IRA o A Traditional IRA as a conduit to hold rollover distributions ("QP IRA") from a qualified plan or a Tax-Sheltered Annuity under Section 403(b) of the Internal Revenue Code ("TSA") A contribution of at least $50 is required to purchase a contract. Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2001, is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our processing office or calling 1 (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's Web site at http://www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. THE SEC HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THE CONTRACTS ARE NOT INSURED BY THE FDIC OR ANY OTHER AGENCY. THEY ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF ANY BANK AND ARE NOT BANK GUARANTEED. THEY ARE SUBJECT TO INVESTMENT RISKS AND POSSIBLE LOSS OF PRINCIPAL. X00031 Series 700 CONTENTS OF THIS PROSPECTUS ----- 2 -------------------------------------------------------------------------------- "We," "our" and "us" refer to Equitable Life. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. EQUI-VEST(R) EXPRESS Index of key words and phrases 4 Who is Equitable Life? 5 How to reach us 6 Equi-Vest Express at a glance -- key features 9 -------------------------------------------------------------------------------- FEE TABLE 12 -------------------------------------------------------------------------------- Examples 15 Condensed financial information 16 -------------------------------------------------------------------------------- 1 CONTRACT FEATURES AND BENEFITS 17 -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 17 Owner and annuitant requirements 19 How you can make your contributions 19 What are your investment options under the contract? 19 Allocating your contributions 23 Your right to cancel within a certain number of days 23 -------------------------------------------------------------------------------- 2 DETERMINING YOUR CONTRACT'S VALUE 25 -------------------------------------------------------------------------------- Your account value and cash value 25 Your contract's value in the variable investment options 25 Your contract's value in the fixed maturity options 25 -------------------------------------------------------------------------------- 3 TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 26 -------------------------------------------------------------------------------- Transferring your account value 26 Disruptive transfer activity 26 Automatic transfer options 26 Rebalancing your account value 27 ----- 3 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 4 ACCESSING YOUR MONEY 28 -------------------------------------------------------------------------------- Withdrawing your account value 28 How withdrawals are taken from your account value 29 Surrender of your contract to receive its cash value 29 Termination 29 When to expect payments 29 Your annuity payout options 30 -------------------------------------------------------------------------------- 5 CHARGES AND EXPENSES 32 -------------------------------------------------------------------------------- Charges that Equitable Life deducts 32 Charges under the contracts 32 Charges that EQ Advisors Trust deducts 34 Group or sponsored arrangements 34 Other distribution arrangements 34 -------------------------------------------------------------------------------- 6 PAYMENT OF DEATH BENEFIT 35 -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 35 How death benefit payment is made 36 Beneficiary continuation option 36 -------------------------------------------------------------------------------- 7 TAX INFORMATION 38 -------------------------------------------------------------------------------- Overview 38 Buying a contract to fund a retirement arrangement 38 Transfers among investment options 38 Taxation of nonqualified annuities 38 Individual retirement arrangements ("IRAs") 40 Roth individual retirement annuities ("Roth IRAs") 47 Federal and state income tax withholding and information reporting 51 Impact of taxes to Equitable Life 52 -------------------------------------------------------------------------------- 8 MORE INFORMATION 53 -------------------------------------------------------------------------------- About our Separate Account A 53 About EQ Advisors Trust 53 About our fixed maturity options 54 About the general account 55 About other methods of payment 55 Dates and prices at which contract events occur 56 About your voting rights 56 About legal proceedings 57 About our independent accountants 57 Financial statements 57 Transfers of ownership, collateral assignments, loans, and borrowing 58 Distribution of the contracts 58 -------------------------------------------------------------------------------- 9 INVESTMENT PERFORMANCE 59 -------------------------------------------------------------------------------- Communicating performance data 62 -------------------------------------------------------------------------------- 10 INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 65 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- APPENDICES -------------------------------------------------------------------------------- I -- Condensed financial information A-1 II -- Market value adjustment example B-1 -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS -------------------------------------------------------------------------------- INDEX OF KEY WORDS AND PHRASES ----- 4 -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus.
PAGE account value 25 annuitant 17 annuity payout options 30 beneficiary 35 business day 56 cash value 25 conduit IRA 44 contract date 10 contract date anniversary 10 contract year 10 contributions 17 contributions to Roth IRAs regular and direct transfers 48 rollover contributions 48 conversion contributions 49 contributions to Traditional IRAs regular contributions 41 rollovers and direct transfers 43 disruptive transfer activity 26 EQAccess 6 financial professional 58 fixed maturity options 22 IRA cover
PAGE IRS 38 investment options 19 market adjusted amount 23 market timing 26 market value adjustment 22 maturity value 22 NQ cover portfolio cover processing office 6 QP IRAs cover rate to maturity 22 regular contribution 41 Required Beginning Date 45 Roth IRA cover SAI cover SEC cover TOPS 6 Traditional IRA cover TSA cover unit 25 unit investment trust 53 variable investment options 19
To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract.
-------------------------------------------------------------------------------- PROSPECTUS CONTRACT OR SUPPLEMENTAL MATERIALS -------------------------------------------------------------------------------- fixed maturity options Guarantee Periods or Fixed Maturity Accounts variable investment options Investment Funds or Investment Divisions account value Annuity Account Value rate to maturity Guaranteed Rates unit Accumulation unit unit value Accumulation unit value --------------------------------------------------------------------------------
WHO IS EQUITABLE LIFE? ----- 5 -------------------------------------------------------------------------------- We are The Equitable Life Assurance Society of the United States ("Equitable Life"), a New York stock life insurance corporation. We have been doing business since 1859. Equitable Life is a wholly owned subsidiary of AXA Financial, Inc. (previously, The Equitable Companies Incorporated). AXA, a French holding company for an international group of insurance and related financial services companies, is the sole shareholder of AXA Financial, Inc. As the sole shareholder, and under its other arrangements with Equitable Life and Equitable Life's parent, AXA exercises significant influence over the operations and capital structure of Equitable Life and its parent. No company other than Equitable Life, however, has any legal responsibility to pay amounts that Equitable Life owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $483.1 billion in assets as of December 31, 2000. For over 100 years Equitable Life has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, N.Y. 10104. ----- 6 -------------------------------------------------------------------------------- HOW TO REACH US You may communicate with our processing office as listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically may be unavailable or delayed (for example our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY REGULAR MAIL: -------------------------------------------------------------------------------- Equitable Life EQUI-VEST Express Individual Collections P.O. Box 13459 Newark, NJ 07188-0459 -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY EXPRESS DELIVERY: -------------------------------------------------------------------------------- Equitable Life c/o Bank One, N.A. 300 Harmon Meadow Boulevard, 3rd Floor Secaucus, NJ 07094 Attn: Box 13459 -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: -------------------------------------------------------------------------------- Equitable Life EQUI-VEST Express P.O. Box 2996 New York, NY 10116-2996 -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: -------------------------------------------------------------------------------- Equitable Life EQUI-VEST Express 200 Plaza Drive, 2nd Floor Secaucus, NJ 07094 -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY REGULAR MAIL: -------------------------------------------------------------------------------- Equitable Life EQUI-VEST Express Unit Collections P.O. Box 13463 Newark, New Jersey 07188-0463 -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY EXPRESS DELIVERY: -------------------------------------------------------------------------------- Equitable Life c/o Bank One, N.A. 300 Harmon Meadow Boulevard, 3rd Floor Secaucus, NJ 07094 Attn: Box 13463 -------------------------------------------------------------------------------- REPORTS WE PROVIDE: -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values as of the close of each calendar quarter; and o annual statement of your contract values as of your contract date anniversary. -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for fixed maturity options; o the daily unit values for the variable investment options; and ----- 7 -------------------------------------------------------------------------------- o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options; and o change your TOPS personal identification number ("PIN") (not available through EQAccess). o change your EQAccess password (not available through TOPS). TOPS and EQAccess are normally available seven days a week, 24 hours a day. You may use TOPS by calling toll free 1 (800) 755-7777. You may use EQAccess by visiting our Web site at http://www.equitable.com and clicking on EQAccess. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or wilful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you are engaged in a disruptive transfer activity such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options"). -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: -------------------------------------------------------------------------------- You may also use our toll-free number 1 (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Fridays until 5:00 p.m., Eastern Time. -------------------------------------------------------------------------------- TOLL-FREE TELEPHONE SERVICE: -------------------------------------------------------------------------------- You may reach us toll-free by calling 1 (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) conversion of your traditional IRA contract to a Roth IRA contract; (2) cancellation of your Roth IRA contract and return to a traditional IRA contract; (3) election of the automatic investment program; (4) election of general dollar-cost averaging; (5) election of the rebalancing program; (6) election of required minimum distribution option; (7) election of beneficiary continuation option; (8) election of the principal assurance allocation; and (9) request for a transfer/rollover of assets or 1035 exchange to another carrier. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; (3) transfers among investment options; (4) change of ownership; and (5) contract surrender and withdrawal requests. ----- 8 -------------------------------------------------------------------------------- TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) automatic investment program; (2) general dollar-cost averaging; (3) rebalancing program; (4) systematic withdrawals; and (5) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. If there are joint owners, all must sign. EQUI-VEST EXPRESS AT A GLANCE -- KEY FEATURES ----- 9 -------------------------------------------------------------------------------- PROFESSIONAL INVESTMENT EQUI-VEST Express variable investment options invest in different portfolios managed by MANAGEMENT professional investment advisers. ------------------------------------------------------------------------------------------------------------------------------------ FIXED MATURITY OPTIONS o 10 fixed maturity options with maturities ranging from approximately 1 to 10 years. o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ----------------------------------------------------------------------------------------------------------- If you make withdrawals or transfers from a fixed maturity option before maturity, there will be a market value adjustment due to differences in interest rates. This may increase or decrease any value that you have left in that fixed maturity option. If you surrender your contract, a market value adjustment may also apply. ------------------------------------------------------------------------------------------------------------------------------------ TAX ADVANTAGES o On earnings inside the No tax until you make withdrawals from your contract or receive contract annuity payments. o On transfers inside the No tax on transfers among investment options. contract ----------------------------------------------------------------------------------------------------------- If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information" later in the prospectus.) ------------------------------------------------------------------------------------------------------------------------------------ CONTRIBUTION AMOUNTS Minimum: $50 ($20 under our automatic investment program) Maximum contribution limitations may apply. ------------------------------------------------------------------------------------------------------------------------------------ ACCESS TO YOUR MONEY o Lump sum withdrawals o Several withdrawal options on a periodic basis o Contract surrender You may incur a withdrawal charge for certain withdrawals or if you surrender your contract. You may also incur income tax and a penalty tax. ------------------------------------------------------------------------------------------------------------------------------------ PAYOUT OPTIONS o Fixed annuity payout options o Variable annuity payout options ------------------------------------------------------------------------------------------------------------------------------------ ADDITIONAL FEATURES o General dollar-cost averaging o Automatic investment program o Account value rebalancing (quarterly, semiannually and annually) o Principal assurance allocation o No charge on transfers among investment options ------------------------------------------------------------------------------------------------------------------------------------
----- 10 -------------------------------------------------------------------------------- FEES AND CHARGES o Daily charges on amounts invested in the variable investment options for mortality and expense risks and other expenses at a current annual rate of 0.95% (2% maximum). o If your account value at the end of the contract year is less than $25,000 for NQ contracts (or less than $20,000 IRA contracts), we deduct an annual administrative charge equal to $30 or during the first two contract years 2% of your account value, if less. If your account value is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts), we will not deduct the charge. o Charge for third-party transfer (such as in the case of a trustee-to-trustee transfer for an IRA contract) or exchange (if your contract is exchanged for a contract issued by another insurance company): $25 currently ($65 maximum) per occurrence. o No sales charge deducted at the time you make contributions. o During the first seven contract years following each contribution, a charge will be deducted from amounts that you withdraw that exceed 10% of your account value. We use the account value on the date of the withdrawal to calculate the 10% amount available. The charge begins at 7% in the first contract year following each contribution. It declines each year to 1% in the seventh contract year. There is no withdrawal charge in the eighth and later contract years following a contribution. ----------------------------------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." ----------------------------------------------------------------------------------------------------------- o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct a $350 annuity administrative fee from amounts applied to purchase a variable annuity payout option. o Annual expenses of EQ Advisors Trust portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. These expenses include management fees ranging from 0.26% to 1.15% annually, 12b-1 fees of 0.25% annually and other expenses. ------------------------------------------------------------------------------------------------------------------------------------ ANNUITANT ISSUE AGES NQ 0-83 QP IRA 0-83 Traditional IRA 0-83 Roth IRA 0-83 ------------------------------------------------------------------------------------------------------------------------------------
----- 11 -------------------------------------------------------------------------------- THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY. MAXIMUM EXPENSE LIMITATIONS APPLY TO CERTAIN VARIABLE INVESTMENT OPTIONS, AND RIGHTS ARE RESERVED TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, INCLUDING ALL VARIABLE INVESTMENT OPTIONS, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES. For more detailed information we urge you to read the contents of this prospectus, as well as your contract. Please feel free to speak with your financial professional, or call us, if you have any questions. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, fees and/or charges that are different from those offered by this prospectus. Not every contract is offered through the same distributor. Upon request, your financial professional can show you information regarding other Equitable Life annuity contracts that he or she distributes. You can also contact us to find out more about any of the Equitable Life annuity contracts. FEE TABLE ----- 12 -------------------------------------------------------------------------------- The fee table below will help you understand the various charges and expenses that apply to your contract. The table reflects charges you will directly incur under the contract, as well as charges and expenses of the Portfolios that you will bear indirectly. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Also, an annuity administrative fee may apply when your annuity payments are to begin. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. For a complete description of portfolio charges and expenses, please see the attached prospectus for EQ Advisors Trust. The fixed maturity options are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, and the third-party transfer or exchange charge do apply to the fixed maturity options. Also, an annuity administrative fee may apply when your annuity payments are to begin. A market value adjustment (up or down) may apply as a result of a withdrawal, transfer or surrender of amounts from a fixed maturity option. ------------------------------------------------------------------------------------------------------------------------------------ CHARGES WE DEDUCT FROM YOUR VARIABLE INVESTMENT OPTIONS EXPRESSED AS AN ANNUAL PERCENTAGE OF DAILY NET ASSETS ------------------------------------------------------------------------------------------------------------------------------------ Mortality and expense risk(1) 0.70% current (maximum 1.75%) Other expenses 0.25% ---- Total Separate Account A annual expenses 0.95% current (2% maximum) ------------------------------------------------------------------------------------------------------------------------------------ CHARGES WE DEDUCT FROM YOUR ACCOUNT VALUE ON EACH CONTRACT DATE ANNIVERSARY ------------------------------------------------------------------------------------------------------------------------------------ Annual administrative charge If your account value on the last day of your contract year is less than $25,000(2) for NQ contracts (or less than $20,000 for IRA contracts) $30 ($65 maximum) ---------------------------------------------------------------------------------------- If your account value on the last day of your contract year is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts) $0 ------------------------------------------------------------------------------------------------------------------------------------ CHARGES WE DEDUCT FROM YOUR ACCOUNT VALUE AT THE TIME YOU REQUEST CERTAIN TRANSACTIONS ------------------------------------------------------------------------------------------------------------------------------------ Withdrawal charge as a percentage of contributions (deducted if you surrender your Contract contract or make certain withdrawals. The withdrawal charge percentage we use is Year determined by the contract year in which you make the withdrawal or surrender your 1 7.00% contract. For each contribution, we consider the contract year in which we receive 2 6.00% that contribution to be "contract year 1")(3) 3 5.00% 4 4.00% 5 3.00% 6 2.00% 7 1.00% 8+ 0.00% Charge for third-party transfer or exchange(4) $25 current ($65 maximum) for each occurrence Charge if you elect a variable annuity payout option $350 ------------------------------------------------------------------------------------------------------------------------------------
----- 13 --------------------------------------------------------------------------------
EQ ADVISORS TRUST ANNUAL EXPENSES (AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS IN EACH PORTFOLIO) ------------------------------------------------------------------------------------------------------------------------------------ NET TOTAL OTHER ANNUAL EXPENSES EXPENSES MANAGEMENT (AFTER EXPENSE (AFTER EXPENSE FEES(5) 12B-1 FEE(6) LIMITATION)(7) LIMITATION)(8) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock 0.60% 0.25% 0.07% 0.92% EQ/Alliance Common Stock 0.46% 0.25% 0.05% 0.76% EQ/Alliance Global 0.72% 0.25% 0.09% 1.06% EQ/Alliance Growth and Income 0.58% 0.25% 0.05% 0.88% EQ/Alliance Growth Investors 0.56% 0.25% 0.06% 0.87% EQ/Alliance High Yield 0.60% 0.25% 0.07% 0.92% EQ/Alliance Intermediate Government Securities 0.50% 0.25% 0.08% 0.83% EQ/Alliance International 0.85% 0.25% 0.29% 1.39% EQ/Alliance Money Market 0.34% 0.25% 0.06% 0.65% EQ/Alliance Premier Growth 0.89% 0.25% 0.01% 1.15% EQ/Alliance Quality Bond 0.53% 0.25% 0.06% 0.84% EQ/Alliance Small Cap Growth 0.75% 0.25% 0.06% 1.06% EQ/Alliance Technology 0.90% 0.25% 0.00% 1.15% EQ/AXP New Dimensions 0.65% 0.25% 0.05% 0.95% EQ/AXP Strategy Aggressive 0.70% 0.25% 0.05% 1.00% EQ/Balanced 0.57% 0.25% 0.08% 0.90% EQ/Bernstein Diversified Value 0.65% 0.25% 0.05% 0.95% EQ/Capital Guardian Research 0.65% 0.25% 0.05% 0.95% EQ/Capital Guardian U.S. Equity 0.65% 0.25% 0.05% 0.95% EQ/Equity 500 Index 0.25% 0.25% 0.06% 0.56% EQ/Evergreen Omega 0.65% 0.25% 0.05% 0.95% EQ/FI Mid Cap 0.70% 0.25% 0.05% 1.00% EQ/FI Small/Mid Cap Value 0.75% 0.25% 0.10% 1.10% EQ/Janus Large Cap Growth 0.90% 0.25% 0.00% 1.15% EQ/Mercury Basic Value Equity 0.60% 0.25% 0.10% 0.95% EQ/MFS Emerging Growth Companies 0.62% 0.25% 0.10% 0.97% EQ/MFS Investors Trust 0.60% 0.25% 0.10% 0.95% EQ/MFS Research 0.65% 0.25% 0.05% 0.95% EQ/Morgan Stanley Emerging Markets Equity 1.15% 0.25% 0.40% 1.80% EQ/Putnam Growth & Income Value 0.60% 0.25% 0.10% 0.95% EQ/T. Rowe Price International Stock 0.85% 0.25% 0.15% 1.25% ------------------------------------------------------------------------------------------------------------------------------------
----- 14 -------------------------------------------------------------------------------- Notes: (1) A portion of this charge is for providing the death benefit. (2) During the first two contract years, this charge is equal to the lesser of $30 or 2% of your account value if it applies. Thereafter, the charge is $30 for each contract year. We reserve the right to increase this charge to an annual maximum of $65. (3) Deducted upon a withdrawal of amounts in excess of the 10% free withdrawal amount. Important exceptions and limitations may eliminate or reduce this charge. (4) We reserve the right to increase this charge to a maximum of $65 for each occurrence. (5) The management fees shown reflect revised management fees, effective May 1, 2000, which were approved by shareholders. The management fee for each portfolio cannot be increased without a vote of each portfolio's shareholders. (6) Portfolio shares are all subject to fees imposed under the distribution plan (the "Rule 12b-1 Plan") adopted by EQ Advisors Trust pursuant to Rule 12b-1 under the Investment Company Act of 1940. The 12b-1 fee will not be increased for the life of the contracts. (7) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. Since initial seed capital was invested for the EQ/Alliance Technology portfolio on May 1, 2000, "Other Expenses" shown have been annualized. Initial seed capital was invested for the EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive Portfolios on, September 1, 2000. Thus "Other Expenses" shown are estimated. See footnote (8) for any expense limitation agreement information. (8) Equitable Life, EQ Advisors Trust's manager, has entered into an expense limitation agreement with respect to certain Portfolios. Under this agreement Equitable Life has agreed to waive or limit its fees and assume other expenses of each of these Portfolios, if necessary, in an amount that limits each Portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, and extraordinary expenses) to not more than the amounts specified above as "Net Total Annual Expenses." The amount shown for the EQ/Morgan Stanley Emerging Markets Portfolio, reflects a .05% decrease in the portfolio's expense waiver. This decrease in the expense waiver was effective on May 1, 2001. Each Portfolio may at a later date make a reimbursement to Equitable Life for any of the management fees waived or limited and other expenses assumed and paid by Equitable Life pursuant to the expense limitation agreement provided that, among other things, such Portfolio has reached a sufficient size to permit such reimbursement to be made and provided that the Portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. For more information see the prospectus for EQ Advisors Trust. The following chart indicates other expenses before any fee waivers and/or expense reimbursements that would have applied to each Portfolio. Portfolios that are not listed below do not have an expense limitation arrangement in effect.
-------------------------------------------------------------------------------- OTHER EXPENSES (BEFORE ANY FEE WAIVERS AND/OR EXPENSE PORTFOLIO NAME REIMBURSEMENTS) -------------------------------------------------------------------------------- EQ/Alliance Premier Growth 0.05% EQ/Alliance Technology 0.06% EQ/AXP New Dimensions 1.23% EQ/AXP Strategy Aggressive 0.57% EQ/Balanced 0.08% EQ/Bernstein Diversified Value 0.15% EQ/Capital Guardian Research 0.16% EQ/Capital Guardian U.S. Equity 0.11% EQ/Evergreen Omega 0.83% EQ/FI Mid Cap 0.27% --------------------------------------------------------------------------------
-------------------------------------------------------------------------------- OTHER EXPENSES (BEFORE ANY FEE WAIVERS AND/OR EXPENSE PORTFOLIO NAME REIMBURSEMENTS) -------------------------------------------------------------------------------- EQ/FI Small/Mid Cap Value 0.19% EQ/Janus Large Cap Growth 0.22% EQ/Mercury Basic Value Equity 0.10% EQ/MFS Investors Trust 0.13% EQ/MFS Research 0.07% EQ/Morgan Stanley Emerging Markets Equity 0.52% EQ/Putnam Growth & Income Value 0.12% EQ/T. Rowe Price International Stock 0.24% --------------------------------------------------------------------------------
----- 15 -------------------------------------------------------------------------------- EXAMPLES The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. We assume a $1,000 contribution is invested in one of the variable investment options listed and a 5% annual return is earned on the assets in that option.(1) The examples assume the continuation of Total Annual Expenses (after expense limitation) shown for each Portfolio of EQ Advisors Trust in the table, above, for the entire one, three, five and ten year periods included the examples. The annual administrative charge is based on the charges that apply to a mix of estimated contract sizes, resulting in an estimated administrative charge for the purpose of these examples of $0.489 per $1,000. We assume there is no waiver of the withdrawal charge. Total Separate Account A annual expenses used to compute the example below are the maximum expenses rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus. For a complete description of portfolio charges and expenses, please see the attached prospectus for EQ Advisors Trust. These examples should not be considered a representation of past or future expenses for each option. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the examples is not an estimate or guarantee of future investment performance.
----------------------------------------------------- IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: ----------------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock $ 101.16 $ 145.25 $ 191.77 $ 339.38 EQ/Alliance Common Stock $ 99.48 $ 140.27 $ 183.57 $ 323.56 EQ/Alliance Global $ 102.63 $ 149.59 $ 198.91 $ 353.00 EQ/Alliance Growth and Income $ 100.74 $ 144.00 $ 189.73 $ 335.45 EQ/Alliance Growth Investors $ 100.63 $ 143.69 $ 189.22 $ 334.46 EQ/Alliance High Yield $ 101.16 $ 145.25 $ 191.77 $ 339.38 EQ/Alliance Intermediate Government Securities $ 100.21 $ 142.45 $ 187.17 $ 330.51 EQ/Alliance International $ 106.09 $ 159.79 $ 215.55 $ 384.36 EQ/Alliance Money Market $ 98.32 $ 136.83 $ 177.90 $ 312.54 EQ/Alliance Premier Growth $ 103.57 $ 152.38 $ 203.47 $ 361.66 EQ/Alliance Quality Bond $ 100.32 $ 142.76 $ 187.68 $ 331.50 EQ/Alliance Small Cap Growth $ 102.63 $ 149.59 $ 198.91 $ 353.00 EQ/Alliance Technology $ 103.57 $ 152.38 $ 203.47 $ 361.66 EQ/AXP New Dimensions $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/AXP Strategy Aggressive $ 102.00 $ 147.73 $ 195.86 $ 347.19 EQ/Balanced $ 100.95 $ 144.63 $ 190.75 $ 337.41 EQ/Bernstein Diversified Value $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/Capital Guardian Research $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/Capital Guardian U.S. Equity $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/Equity 500 Index $ 97.38 $ 134.01 $ 173.24 $ 303.42 EQ/Evergreen Omega $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/FI Mid Cap $ 102.00 $ 147.73 $ 195.86 $ 347.19 EQ/FI Small/Mid Cap Value $ 103.05 $ 150.83 $ 200.94 $ 356.86 EQ/Janus Large Cap Growth $ 103.57 $ 152.38 $ 203.47 $ 361.66 EQ/Mercury Basic Value Equity $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/MFS Emerging Growth Companies $ 101.68 $ 146.80 $ 194.33 $ 344.26 EQ/MFS Growth with Income $ 101.47 $ 146.18 $ 193.31 $ 342.31 ------------------------------------------------------------------------------------------------------ ------------------------------------------------------ IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: ------------------------------------------------------ 1 YEAR 3 YEARS 5 YEARS 10 YEARS ------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock $ 31.16 $ 95.25 $ 161.77 $ 339.38 EQ/Alliance Common Stock $ 29.48 $ 90.27 $ 153.57 $ 323.56 EQ/Alliance Global $ 32.63 $ 99.59 $ 168.91 $ 353.00 EQ/Alliance Growth and Income $ 30.74 $ 94.00 $ 159.73 $ 335.45 EQ/Alliance Growth Investors $ 30.63 $ 93.69 $ 159.22 $ 334.46 EQ/Alliance High Yield $ 31.16 $ 95.25 $ 161.77 $ 339.38 EQ/Alliance Intermediate Government Securities $ 30.21 $ 92.45 $ 157.17 $ 330.51 EQ/Alliance International $ 36.09 $ 109.79 $ 185.55 $ 384.36 EQ/Alliance Money Market $ 28.32 $ 86.83 $ 147.90 $ 312.54 EQ/Alliance Premier Growth $ 33.57 $ 102.38 $ 173.47 $ 361.66 EQ/Alliance Quality Bond $ 30.32 $ 92.76 $ 157.68 $ 331.50 EQ/Alliance Small Cap Growth $ 32.63 $ 99.59 $ 168.91 $ 353.00 EQ/Alliance Technology $ 33.57 $ 102.38 $ 173.47 $ 361.66 EQ/AXP New Dimensions $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/AXP Strategy Aggressive $ 32.00 $ 97.73 $ 165.86 $ 347.19 EQ/Balanced $ 30.95 $ 94.63 $ 160.75 $ 337.41 EQ/Bernstein Diversified Value $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/Capital Guardian Research $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/Capital Guardian U.S. Equity $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/Equity 500 Index $ 27.38 $ 84.01 $ 143.24 $ 303.42 EQ/Evergreen Omega $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/FI Mid Cap $ 32.00 $ 97.73 $ 165.86 $ 347.19 EQ/FI Small/Mid Cap Value $ 33.05 $ 100.83 $ 170.94 $ 356.86 EQ/Janus Large Cap Growth $ 33.57 $ 102.38 $ 173.47 $ 361.66 EQ/Mercury Basic Value Equity $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/MFS Emerging Growth Companies $ 31.68 $ 96.80 $ 164.33 $ 344.26 EQ/MFS Growth with Income $ 31.47 $ 96.18 $ 163.31 $ 342.31 ------------------------------------------------------------------------------------------------------
----- 16 --------------------------------------------------------------------------------
--------------------------------------------------------- IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: --------------------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ---------------------------------------------------------------------------------------------------- EQ/MFS Research $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/Morgan Stanley Emerging Markets Equity $ 110.39 $ 172.35 $ 235.89 $ 421.86 EQ/Putnam Growth & Income Value $ 101.47 $ 146.18 $ 193.31 $ 342.31 EQ/T. Rowe Price International Stock $ 104.62 $ 155.47 $ 208.52 $ 371.19 ---------------------------------------------------------------------------------------------------- --------------------------------------------------------- IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: --------------------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------------------------------------------------------------------- EQ/MFS Research $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/Morgan Stanley Emerging Markets Equity $ 40.39 $ 122.35 $ 205.89 $ 421.86 EQ/Putnam Growth & Income Value $ 31.47 $ 96.18 $ 163.31 $ 342.31 EQ/T. Rowe Price International Stock $ 34.62 $ 105.47 $ 178.52 $ 371.19
(1) The amount accumulated from the $1,000 contribution could not be paid in the form of an annuity payout option at the end of any of the periods shown in the examples. This is because if the amount applied to purchase an annuity payout option is less than $2,000, or the initial payment is less than $20, we may pay the amount to you in a single sum instead of as payments under an annuity payout option. See "Accessing your money." IF YOU ELECT A VARIABLE ANNUITY PAYOUT OPTION: Assuming an annuity payout option could be issued, (see Note (1) above), and you elect a variable annuity payout option, the expenses shown in the above example for "if you do not surrender your contract" would, in each case, be increased by $6.08 based on the average amount applied to annuity payout options in 2000. See "Annuity administrative fee" in "Charges and expenses." CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this prospectus for the unit values and the number of units outstanding as of the end of the period shown for each of the variable investment options available as of December 31, 2000. 1 CONTRACT FEATURES AND BENEFITS ----- 17 -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." We require a minimum contribution amount of $50 to purchase a contract. The minimum contribution amount under our automatic investment program is $20. We discuss the automatic investment program under "About other methods of payment" in "More information" later in this prospectus. The following table summarizes our rules regarding contributions to your contract. All ages in the table refer to the age of the annuitant named in the contract. -------------------------------------------------------------------------------- The "annuitant" is the person who is the measuring life for determining contract benefits. The annuitant is not necessarily the contract owner. --------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ CONTRACT AVAILABLE FOR SOURCE OF LIMITATIONS ON TYPE ANNUITANT ISSUE AGES CONTRIBUTIONS CONTRIBUTIONS ------------------------------------------------------------------------------------------------------------------------------------ NQ 0 through 83 o After-tax money. o Additional contributions can be made up to age 84. o Paid to us by check or transfer of contract value in a tax deferred exchange under Section 1035 of the Internal Revenue Code. o Paid to us by an employer who establishes a payroll deduction program. ------------------------------------------------------------------------------------------------------------------------------------ Traditional IRA* 0 through 83 o "Regular" traditional IRA o Total regular IRA contributions contributions either made by you may not exceed $2,000 for a year. or paid to us by an employer who establishes a payroll o No regular IRA contributions in deduction program. the calendar year you turn age 70 1/2 and thereafter. o Rollovers from a qualified plan. o Additional rollover contributions can be made up to age 84. o Rollovers from a TSA contract or other 403(b) arrangement. o Rollover and direct transfer contributions after age 70 1/2 must o Rollovers from another be net of required minimum traditional individual retirement distributions. arrangement. o Direct custodian-to-custodian transfers from other traditional individual retirement arrangements. ------------------------------------------------------------------------------------------------------------------------------------
----- 18 --------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ CONTRACT AVAILABLE FOR SOURCE OF LIMITATIONS ON TYPE ANNUITANT ISSUE AGES CONTRIBUTIONS CONTRIBUTIONS ------------------------------------------------------------------------------------------------------------------------------------ Roth IRA 0 through 83 o Regular after-tax contributions o Regular Roth IRA contributions either made by you or paid to us may not exceed $2,000 for a year. by an employer who establishes a payroll deduction program. o Additional contributions can be made up to age 84. o Rollovers from another Roth IRA. o Contributions are subject to income limits and other tax rules. o Conversion rollovers from a See "Contributions traditional IRA. to Roth IRAs" in "Tax information." o Direct transfers from another Roth IRA. ------------------------------------------------------------------------------------------------------------------------------------ QP IRA 0 through 83 o Rollovers from a qualified plan. o Additional contributions can be made up to age 84. o Rollovers from a TSA contract or other 403(b) arrangement. o Rollover contributions after age 70 1/2 must be net of required o The EQUI-VEST Express QP IRA minimum distributions. contract is intended to be a conduit IRA. Only rollovers from o Regular contributions are not a qualified plan or TSA contract permitted. or arrangement are permitted. ------------------------------------------------------------------------------------------------------------------------------------
* For traditional IRA contracts, the maximum issue age is 70, but we will issue up to age 83 if the contribution is a rollover contribution. See "Tax information" for a more detailed discussion of sources of contributions and certain contribution limitations. We may refuse to accept any contribution if the sum of all contributions under all EQUI-VEST contracts with the same annuitant would then total more than $1,500,000. We may also refuse to accept any contribution if the sum of all contributions under all Equitable Life annuity accumulation contracts that you own would then total more than $2,500,000. For information on when contributions are credited, see "Dates and prices at which contract events occur" in "More information" later in this prospectus. ----- 19 -------------------------------------------------------------------------------- OWNER AND ANNUITANT REQUIREMENTS Under NQ contracts, the annuitant can be different than the owner. During the fourth quarter of 2001, we anticipate that you will be able to name a joint owner. Only natural persons can be joint owners. This means that an entity such as a corporation cannot be a joint owner. Under any type of the IRA contract, the owner and annuitant must be the same person. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as noted below, contributions must be by check drawn on a U.S. bank in U.S. dollars, and made payable to Equitable Life. We may also apply contributions made pursuant to a 1035 tax-free exchange or direct transfer. We do not accept third-party checks endorsed to us except for rollover contributions, tax-free exchanges or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. Additional contributions may also be made by wire transfer or our automatic investment program. The method of payment is discussed in detail under "About other methods of payment" in "More information" later in this prospectus. Your initial contribution must generally be accompanied by an application and any other form we need to process the contributions. If any information is missing or unclear, we will try to obtain that information. If we are unable to obtain all of the information we require within five business days after we receive an incomplete application or form, we will inform the financial professional submitting the application on your behalf. We will then return the contribution to you unless you specifically direct us to keep your contribution until we receive the required information. Generally, you may make additional contributions at any time. You may do so in single sum amounts, on a regular basis, or as your financial situation permits. -------------------------------------------------------------------------------- Generally our "business day" is any day on which Equitable Life is open and the New York Stock Exchange is open for trading. We may, however, close due to emergency conditions. -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options are the variable investment options and the fixed maturity options. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. Listed below are the currently available portfolios, their investment objectives, and their advisers. -------------------------------------------------------------------------------- You can choose from among the variable investment options. -------------------------------------------------------------------------------- ----- 20 -------------------------------------------------------------------------------- PORTFOLIOS OF EQ ADVISORS TRUST You should note that some EQ Advisors Trust portfolios have objectives and strategies that are substantially similar to those of certain retail funds; they may even have the same manager(s) and/or a similar name. However, there are numerous factors that can contribute to differences in performance between two investments, particularly over short periods of time. Such factors include the timing of stock purchases and sales; differences in fund cash flows; and specific strategies employed by the portfolio manager.
------------------------------------------------------------------------------------------------------------------------------------ PORTFOLIO NAME OBJECTIVE ADVISER ------------------------------------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock Long-term growth of capital Alliance Capital Management L.P. Marsico Capital Management, LLC MFS Investment Management Provident Investment Counsel, Inc. ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Common Stock Long-term growth of capital and increasing Alliance Capital Management L.P. income ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Global Long-term growth of capital Alliance Capital Management L.P. ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth and Income High total return through investments primarily Alliance Capital Management L.P. in dividend-paying stocks of good quality, although the Portfolio also may invest in fixed-income and convertible securities ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth Investors Highest total return consistent with the adviser's Alliance Capital Management L.P. determination of reasonable risk ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance High Yield High total return through a combination of Alliance Capital Management L.P. current income and capital appreciation by investing generally in high yield securities ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Intermediate High current income consistent with relative Alliance Capital Management L.P. Government Securities stability of principal ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance International Long-term growth of capital Alliance Capital Management L.P. ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Money Market High level of current income, preserve its assets Alliance Capital Management L.P. and maintain liquidity ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Premier Growth Long-term growth of capital Alliance Capital Management L.P. ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Quality Bond High current income consistent with Alliance Capital Management L.P. preservation of capital ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Small Cap Growth Long-term growth of capital Alliance Capital Management L.P. ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Technology Long-term growth of capital Alliance Capital Management L.P. ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXP New Dimensions Long-term growth of capital American Express Financial Corporation ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXP Strategy Aggressive Long-term growth of capital American Express Financial Corporation ------------------------------------------------------------------------------------------------------------------------------------
----- 21 --------------------------------------------------------------------------------
PORTFOLIOS OF EQ ADVISORS TRUST (CONTINUED) ------------------------------------------------------------------------------------------------------------------------------------ PORTFOLIO NAME OBJECTIVE ADVISER ------------------------------------------------------------------------------------------------------------------------------------ EQ/Balanced High return through both appreciation of capital Alliance Capital Management L.P. and current income Capital Guardian Trust Company Prudential Investments Fund Management LLC Jennison Associates LLC ------------------------------------------------------------------------------------------------------------------------------------ EQ/Bernstein Diversified Value Capital appreciation Alliance Capital Management, L.P., through its Bernstein Investment Research and Management unit ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research Long-term growth of capital Capital Guardian Trust Company ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian U.S. Equity Long-term growth of capital Capital Guardian Trust Company ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index Total return before expenses that approximates Alliance Capital Management L.P. the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the Standard & Poor's 500 Stock Index ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega Long-term capital growth Evergreen Investment Management Company, LLC ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap Long-term growth of capital Fidelity Management & Research Company ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Small/Mid Cap Value Long-term capital appreciation Fidelity Management & Research Company ------------------------------------------------------------------------------------------------------------------------------------ EQ/Janus Large Cap Growth Long-term growth in a manner that is consistent Janus Capital Corporation with preservation of capital ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mercury Basic Value Equity Capital appreciation and, secondarily, income Mercury Advisors ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Emerging Growth Long-term capital growth MFS Investment Management Companies ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Investors Trust Long-term growth of capital with a secondary MFS Investment Management objective to seek reasonable current income ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Research Long-term growth of capital and future income MFS Investment Management ------------------------------------------------------------------------------------------------------------------------------------ EQ/Morgan Stanley Emerging Long-term capital appreciation Morgan Stanley Asset Management Markets Equity ------------------------------------------------------------------------------------------------------------------------------------ EQ/Putnam Growth & Income Value Capital growth, current income is a secondary Putnam Investment Management, LLC objective ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price International Long-term growth of capital T. Rowe Price International, Inc. Stock ------------------------------------------------------------------------------------------------------------------------------------
----- 22 -------------------------------------------------------------------------------- Other important information about the portfolios is included in the prospectus for EQ Advisors Trust attached at the end of this prospectus. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates ranging from one to ten years. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of our general account assets. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." The fixed maturity options are not available in contracts issued in Maryland. -------------------------------------------------------------------------------- Fixed maturity options range from one to ten years to maturity. -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. If you make any withdrawals or transfers from a fixed maturity option before the maturity date, we will make a "market value adjustment" that may increase or decrease any fixed maturity amount you have left in that fixed maturity option. We discuss the market value adjustment below and in greater detail later in this prospectus in "More information." On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution, to the date of the calculation. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15th for each of the maturity years 2002 through 2011. As fixed maturity options expire, we expect to add maturity years so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3% or less; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the fixed maturity option that will mature next (or another investment option if we are required to do so by any state regulation). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The amount of the adjustment will depend on two factors: ----- 23 -------------------------------------------------------------------------------- (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix II to this prospectus provides an example of how the market value adjustment is calculated. ALLOCATING YOUR CONTRIBUTIONS You may choose from among two ways to allocate your contributions: self-directed and principal assurance. SELF-DIRECTED ALLOCATION You may allocate your contributions to one or more, or all of the investment options. However, you may not allocate more than one contribution to any one fixed maturity option. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options they become part of your account value. We discuss account value in "Determining your contract's value." PRINCIPAL ASSURANCE ALLOCATION Under this allocation program, you select a fixed maturity option and we specify the portion of your initial contribution to be allocated to that fixed maturity option in an amount that will cause the maturity value to equal the amount of your entire initial contribution on the fixed maturity option's maturity date. The maturity date you select generally may not be later than 10 years, or earlier than 6 years from your contract date. You allocate the rest of your contribution to the variable investment options however you choose. For example, if your initial contribution is $10,000, and on March 1, 2001 you chose the fixed maturity option with a maturity date of June 15, 2010, since the rate to maturity was 5.85% on March 1, 2001, we would have allocated $5,898 to that fixed maturity option and the balance to your choice of variable investment options. On the maturity date your value in the fixed maturity option would be $10,000. The principal assurance allocation is only available for annuitant ages 75 or younger when the contract is issued. If you are purchasing an Equitable Life traditional IRA or QP IRA contract, before you select a maturity year that would extend beyond the year in which you will reach age 70 1/2, you should consider whether your value in the variable investment options, or your other traditional IRA funds are sufficient to meet your required minimum distributions. See "Tax information." YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If, for any reason, you are not satisfied with your contract, you may return it to us for a refund. To exercise this cancellation right, you must mail the contract directly to our processing office within 10 days after you receive it. If state law requires, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or ----- 24 -------------------------------------------------------------------------------- negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For IRA contracts returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract whether we have received your contribution or not. Please see "Tax information" for possible consequences of cancelling your contract. In addition to the cancellation right described above, if you fully or partially convert an existing traditional IRA contract to a Roth IRA contract, you may cancel your Roth IRA contract and return to a traditional IRA contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. Ask for the form entitled "EQUI-VEST Roth IRA Re-Characterization Form." 2 DETERMINING YOUR CONTRACT'S VALUE ----- 25 -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have in the variable investment options and (ii) market adjusted amounts you have in the fixed maturity options. These amounts are subject to certain fees and charges discussed under "Charges and expenses." Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value less: (i) any applicable withdrawal charges and (ii) the total amount or a pro rata portion of the annual administrative charge. Please see "Surrender of your contract to receive its cash value" in "Accessing your money." YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. -------------------------------------------------------------------------------- Units measure your value in each variable investment option. -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect additional contributions; (ii) decreased to reflect a withdrawal (plus applicable withdrawal charges); or (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of a variable investment option. In addition, when we deduct the annual administrative charge or third-party transfer or exchange charge, we will reduce the number of units credited to your contract. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in the fixed maturity option will equal its maturity value. 3 TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS ----- 26 -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o you must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o you may not transfer to a fixed maturity option in which you already have value. o you may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o if you make transfers out of a fixed maturity option other than at its maturity date the transfer may cause a market value adjustment. Subject to the terms of your contract, upon advance notice, we may change or establish additional restrictions on transfers among the investment options. A transfer request does not change your percentages for allocating current or future contributions among the investment options. You may request a transfer in writing, or by telephone using TOPS or on line using EQAccess. You must send in all signed written requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. DISRUPTIVE TRANSFER ACTIVITY You should note that the EQUI-VEST Express contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy, making programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. These kind of strategies and transfer activities are disruptive to the underlying portfolios in which the variable investment options invest. If we determine that your transfer patterns among the variable investment options are disruptive to the underlying portfolios, we may, among other things, restrict the availability of personal telephone requests, facsimile transmissions, automated telephone services, Internet services or any electronic transfer services. We may also refuse to act on transfer instructions of an agent who is acting on behalf of more than one or more owners. We currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. In order to prevent disruptive activity, we monitor the frequency of transfers, including the size of transfers in relation to portfolio assets, in each underlying portfolio, and we take appropriate action, which may include the actions described above to restrict availability of voice, fax and automated transaction services, when we consider the activity of owners to be disruptive. We currently provide a letter to owners who have engaged in such activity of our intention to restrict such services. However, we may not continue to provide such letters. We may also, in our sole discretion and without further notice, change what we consider disruptive transfer activity, as well as change our procedures to restrict this activity. AUTOMATIC TRANSFER OPTIONS GENERAL DOLLAR-COST AVERAGING Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. One of our automatic transfer options, referred to as general dollar-cost averaging, allows you to have amounts automatically transferred from the Alliance Money Market option to the other variable investment options on a monthly ----- 27 -------------------------------------------------------------------------------- basis. In order to elect the general dollar-cost averaging option you must have a minimum of $2,000 in the EQ/Alliance Money Market option on the date we receive your election form at our processing office. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the EQ/Alliance Money Market option have been transferred out. The minimum amount that we will transfer each month is $50. The maximum amount we will transfer is equal to your value in the EQ/Alliance Money Market option at the time the program is elected, divided by the number of transfers scheduled to be made. If, on any transfer date, your value in the EQ/Alliance Money Market option is equal to or less than the amount you have elected to have transferred, the entire amount will be transferred. General dollar-cost averaging will then end. You may change the transfer amount once each contract year, or cancel this program at any time. You may not elect dollar-cost averaging if you are participating in the rebalancing program. REBALANCING YOUR ACCOUNT VALUE We currently offer a rebalancing program that you can use to automatically reallocate your account value among the variable investment options. You must tell us: (a) the percentage you want invested in each variable investment option (whole percentages only), and (b) how often you want the rebalancing to occur (quarterly, semiannually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options must be included in the rebalancing program. -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional and/or financial adviser before electing the program. -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have at least $5,000 of account value in the variable investment options. You may also change your allocation instructions or cancel the program at any time. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested; the rebalancing program will remain in effect unless you request that it be cancelled in writing. You may not elect the rebalancing program if you are participating in the dollar-cost averaging program. Rebalancing is not available for amounts you have allocated in the fixed maturity options. 4 ACCESSING YOUR MONEY ----- 28 -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. For the tax consequences of taking withdrawals, see "Tax information."
-------------------------------------------------------------------------------- METHOD OF WITHDRAWAL -------------------------------------------------------------------------------- MINIMUM CONTRACT LUMP SUM SYSTEMATIC DISTRIBUTION -------------------------------------------------------------------------------- NQ Yes Yes No -------------------------------------------------------------------------------- Traditional IRA Yes Yes Yes -------------------------------------------------------------------------------- QP IRA Yes Yes Yes -------------------------------------------------------------------------------- Roth IRA Yes Yes No --------------------------------------------------------------------------------
LUMP SUM WITHDRAWALS (All contracts) You may take lump sum withdrawals from your account value at any time while the annuitant is living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If you request a withdrawal that leaves your account value less than $500, we may treat it as a request to surrender the contract for its cash value. See "Surrender of your contract to receive its cash value" below. Lump sum withdrawals in excess of the 10% free withdrawal amount may be subject to a withdrawal charge (see "10% free withdrawal amount" in "Charges and Expenses"). SYSTEMATIC WITHDRAWALS (All contracts) You may take systematic withdrawals if you have at least $20,000 of account value in the variable investment options. You may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $300. We will make the withdrawals on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking account. You may withdraw a fixed-dollar amount from the variable investment options. You do not have to maintain a minimum amount. You may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (Traditional IRA and QP IRA contracts -- See "Tax information") We offer the minimum distribution withdrawal option to help you meet or exceed lifetime required minimum distributions under federal income tax rules. You may elect this option in the year in which you reach age 70 1/2 and have account value in the variable investment options of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. You may elect the method you want us to use to calculate your minimum distribution withdrawal from the choices we offer. Currently, minimum distribution withdrawal payments will be made annually. We will calculate your payment each year based on your account value at the end of each prior calendar year, based on the method you choose. See "Required minimum distributions" under "Individual Retirement Arrangements ("IRAs")" in "Tax information." ----- 29 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- We will send to Traditional IRA and QP IRA owners a form outlining the minimum distribution options available in the year you reach age 701/2 (if you have not begun your annuity payments before that time). -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your value in the variable investment options. If there is insufficient value or no value in the variable investment options, any additional amount of the withdrawal required or the total amount of the withdrawal will be withdrawn from the fixed maturity options in order of the earliest maturity date(s). A market value adjustment may apply if withdrawals are taken from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving required minimum distribution payments from a Traditional IRA or QP IRA contract you may use our automatic deposit service. Under this service we will automatically deposit the required minimum distribution payment from your Traditional IRA or QP IRA contract directly into an existing EQUI-VEST NQ or Roth IRA or an existing EQUI-VEST Express NQ or Roth IRA contract according to your allocation instructions. Please note that you must have compensation to make regular contributions to Roth IRAs. See "Tax information." SURRENDER OF YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while the annuitant is living and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of that date. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. We will usually pay the cash value within seven calendar days, but we may delay payment as described in "When to expect payments" below. For the tax consequences of surrenders, see "Tax information." TERMINATION We may terminate your contract and pay you the cash value if: (1) your account value is less than $500 and you have not made contributions to your contract for a period of three years; or (2) you request a lump sum withdrawal that reduces your account value to an amount less than $500; or (3) you have not made any contributions within 120 days from your contract date. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon surrender or termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) sales of securities or determination of the fair value of a variable investment option's assets is not reasonably practicable because of an emergency, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the fixed maturity options (other than for death benefits) for up to six months while you are living. We also may defer payments for a reasonable amount of time (not to exceed 15 days) while we are waiting for a contribution check to clear. ----- 30 -------------------------------------------------------------------------------- All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST Express offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments and others enable you to receive variable annuity payments. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own and the annuitant's age at contract issue. -------------------------------------------------------------------------------- Fixed annuity payout options o Life annuity o Life annuity with period certain o Life annuity with refund certain o Period certain annuity -------------------------------------------------------------------------------- Variable annuity payout options o Life annuity (not available in New York) o Life annuity with period certain --------------------------------------------------------------------------------
o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy or the joint life expectancy of you and your spouse. A life annuity with period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case the period certain will be based on the annuitant's age and will not exceed 10 years or the annuitant's life expectancy. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. This guarantee period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity payments in your contract or on our then current annuity rates, whichever is more favorable for you. VARIABLE ANNUITY PAYOUT OPTIONS Variable annuities may be funded through your choice of variable investment options investing in portfolios of EQ Advisors Trust. The contract also offers a fixed annuity payout option that can be elected in combination with the variable annuity payout options. The amount of each variable annuity ----- 31 -------------------------------------------------------------------------------- payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. THE AMOUNT APPLIED TO PURCHASE AN ANNUITY PAYOUT OPTION The amount applied to purchase an annuity payout option varies, depending on the payout option that you choose, and the timing of your purchase as it relates to any withdrawal charges or market value adjustments. If amounts in a fixed maturity option are used to purchase any annuity payout option, prior to the maturity date, a market value adjustment will apply. For the fixed annuity payout options and variable annuity payout options, no withdrawal charge is imposed if you select a life annuity, life annuity with period certain or life annuity with refund certain. For the fixed annuity payout option, the withdrawal charge applicable is imposed if you select a period certain. Any applicable withdrawal charge will be waived for Traditional IRA, Roth IRA or QP IRA contracts if the period certain is more than 10 years. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be fixed or variable. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments are to begin. You can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month. Also, that date may not be later than the contract date anniversary that follows the annuitant's 90th birthday. This may be different in some states. Before your annuity payments are to begin, we will notify you by letter that the annuity payout options are available. Once you have selected a payout option and payments have begun, no change can be made other than transfers (if permitted in the future) among the variable investment options if a variable annuity is selected. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable. If you choose a variable annuity, we will use an assumed base rate of 5% to calculate the level of payments. However, in states where that rate is not permitted the assumed base rate will be 31|M/2%. We provide information about the assumed base rate in the SAI; (3) in the case of a life annuity, the annuitant's age (or the annuitant's and joint annuitant's ages); and (4) in certain instances, the sex of the annuitant(s). In no event will you ever receive payments under a fixed option or an initial payment under a variable option of less than the minimum amounts guaranteed by the contract. If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. 5 CHARGES AND EXPENSES ----- 32 -------------------------------------------------------------------------------- CHARGES THAT EQUITABLE LIFE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o A charge for other expenses We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o on the last day of the contract year -- an annual administrative charge, if applicable o charge for third-party transfer or exchange o at the time you make certain withdrawals or surrender your contract, or your contract is terminated -- a withdrawal charge o at the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. An annuity administrative fee may also apply More information about these charges appears below. We will not increase these charges for the life of your contract, except as noted. We may reduce certain charges under group or sponsored arrangements. See "Group or sponsored arrangements" below. To help with your retirement planning, we may offer other annuities with different charges, benefits and features. Please contact your financial professional for more information. CHARGES UNDER THE CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The daily charge is equivalent to a current annual rate of 0.70% of the net assets in each variable investment option. We reserve the right under the contract to increase this charge to 1.75%. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. We may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that it will cost us more to issue and administer the contracts than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is equivalent to a maximum annual rate of 0.25% of net assets in each variable investment option. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option, or the annuitant dies during the contract year. We deduct the charge if your account value on the last day of the contract year, is less than $25,000 under NQ contracts and $20,000 under IRA contracts. If your account value on such date is $25,000 or more for NQ ($20,000 or more for IRA) contracts, we do not deduct the charge. During the first two contract years, the charge is equal to $30 or, if less, 2% of your current account value. The charge is $30 for ----- 33 -------------------------------------------------------------------------------- contract years three and later. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. The charge is deducted pro rata from the variable investment options. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options, unless you tell us otherwise. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE We impose a charge for making a direct transfer of amounts from your contract to a third party, such as in the case of a trustee-to-trustee transfer for an IRA contract, or if you request that your contract be exchanged for a contract issued by another insurance company. In either case, we will deduct from your account value any withdrawal charge that applies and a charge of $25 for each direct transfer or exchange. We reserve the right to increase this charge to a maximum of $65. WITHDRAWAL CHARGE A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; (2) you surrender your contract to receive its cash value; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies, and the availability of one or more exceptions. The withdrawal charge equals a percentage of the contributions withdrawn. The percentage that applies depends on how long each contribution has been invested in the contract. We determine the withdrawal charge separately for each contribution according to the following table:
-------------------------------------------------------------------------------- CONTRACT YEAR -------------------------------------------------------------------------------- 1 2 3 4 5 6 7 8+ -------------------------------------------------------------------------------- Percentage of contribution 7% 6% 5% 4% 3% 2% 1% 0% --------------------------------------------------------------------------------
For purposes of calculating the withdrawal charge, we treat the contract year in which we receive a contribution as "contract year 1." Amounts withdrawn up to the free withdrawal amount are not considered withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contributions as withdrawn before earnings for purposes of calculating the withdrawal charge. However, federal income tax rules treat earnings under most NQ contracts as withdrawn first. See "Tax information." In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charge from your account value. Any amount deducted to pay withdrawal charges is also subject to that same withdrawal charge percentage. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options in order of the earliest maturities first. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment may apply. See "About our fixed maturity options" in "More information." The withdrawal charge does not apply in the circumstances described below. 10% FREE WITHDRAWAL AMOUNT. Each contract year you can withdraw up to 10% of your account value without paying a withdrawal charge. The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. DEATH OF THE ANNUITANT. The withdrawal charge does not apply if the annuitant dies and a death benefit is payable to the beneficiary. CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by state and ranges from 0% to 3.5% (1% in Puerto Rico and 5% in the U.S. Virgin Islands). ----- 34 -------------------------------------------------------------------------------- VARIABLE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of up to $350 from the amount to be applied to purchase a variable annuity payout option. CHARGES THAT EQ ADVISORS TRUST DEDUCTS EQ Advisors Trust deducts charges for the following types of fees and expenses: o investment advisory fees ranging from 0.26% to 1.15%. o 12b-1 fees of 0.25%. o operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of EQ Advisors Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. For more information about these charges, please refer to the prospectus for EQ Advisors Trust following this prospectus. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the withdrawal charge or the mortality and expense risks charge, or change the minimum contribution requirements. We also may change the minimum death benefit or offer variable investment options that invest in shares of EQ Advisors Trust that are not subject to the 12b-1 fee. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for traditional IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. Our costs for sales, administration, and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, the Employee Retirement Income Security Act of 1974, or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it will be unfairly discriminatory. 6 PAYMENT OF DEATH BENEFIT ----- 35 -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Under jointly owned contracts, the surviving owner is considered the beneficiary, and will take the place of any other beneficiary. The death benefit is equal to greater of (i) the account value as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment or (ii) the "minimum death benefit." The minimum death benefit is equal to your total contributions, less withdrawals and any withdrawal charges, and any taxes that apply. If you have transferred the value of another annuity contract that we issue to your EQUI-VEST Express contract, the value of the other contract's minimum death benefit calculated as of the time of the transfer will be included in the total contributions for the purpose of calculating the minimum death benefit. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, if you are both the owner and the annuitant and your spouse is the sole primary beneficiary or the joint owner, the contract can be continued as follows: SUCCESSOR OWNER AND ANNUITANT. For all contracts, your spouse can elect upon your death to continue the contract as the owner/annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner and annuitant feature, we will increase the account value to equal your minimum death benefit if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. The minimum death benefit will continue to apply. Also, for all types of IRA contracts, a beneficiary may be able to have limited ownership as discussed in "Beneficiary continuation option " below. WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions the owner changes after the original owner's death for purposes of receiving federal tax law required distributions from the contract. When you are not the annuitant under an NQ contract and you die before annuity payments begin, unless you specify otherwise, we will automatically make the beneficiary you name to receive the death benefit upon the annuitant's death your successor owner. If you do not want this beneficiary also to be the successor owner, you should name a specific successor owner. You may name a successor owner at any time by sending satisfactory notice to our processing office. If the contract is jointly owned and the first owner to die is not the annuitant, the surviving owner becomes the sole contract owner. This person will be considered the successor owner for purposes of the distribution rules described in this section. Unless the surviving spouse of the owner who has died (or in the case of a joint ownership situation, the surviving spouse of the first owner to die) is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o the cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death (or in a joint ownership situation, the death of the first owner to die). ----- 36 -------------------------------------------------------------------------------- o the successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the new owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death (or the death of the first owner to die). If the surviving spouse is the successor owner or joint owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of the annuitant's death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and any applicable requirements under federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" in "Accessing your money" earlier in this prospectus. Please note that if you are both the contract owner and the annuitant, you may elect only a life annuity or any annuity payout option chosen may not extend beyond the life expectancy of the beneficiary. Single sum payments generally are paid through the Equitable Life Access Account(TM), an interest bearing account with check writing privileges. The Equitable Life Access Account(TM) is part of Equitable Life's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account(TM) until the account is closed. BENEFICIARY CONTINUATION OPTION Upon your death under a Traditional IRA, Roth IRA or QP IRA contract, your beneficiary may generally elect to keep the contract in your name and receive distributions under the contract instead of receiving the death benefit in a single sum. In order to elect this option, the beneficiary must be an individual. Certain trusts with only individual beneficiaries will be treated as individuals. We require this election to be made within 60 days following the date we receive proof of your death and before any other inconsistent election is made. As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the minimum death benefit if such death benefit is greater than such account value. Under the beneficiary continuation option: o the contract continues in your name for the benefit of your beneficiary. o the beneficiary may make transfers among the investment options but no additional contributions will be permitted. o the minimum death benefit provision will no longer be in effect. o the beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. Any partial withdrawal must be at least $300. o Upon the death of the beneficiary, any remaining death benefit will be paid in a lump sum to the person named by the beneficiary, when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. For Traditional IRA (including QP IRA) contracts only, if you die AFTER the "Required Beginning Date" for lifetime required minimum distributions (see "Tax information"), the contract will continue if: (a) you were receiving minimum distribution withdrawals from this contract; and (b) the pattern of minimum distribution withdrawals you chose was based in part on the life of the designated beneficiary. The withdrawals will then continue to be paid to the beneficiary on the same basis as you chose before your death. We will be able to tell your beneficiary whether this option is ----- 37 -------------------------------------------------------------------------------- available. You should contact our processing office for further information. See "Required minimum distributions" under "IRA" in "Tax information." For Roth IRAs, traditional IRA and QP IRA contracts, if you die before the Required Beginning Date, the beneficiary may choose one of the following two beneficiary continuation options: 1. Payments over life expectancy period. The beneficiary can receive annual minimum distributions based on the beneficiary's life expectancy. If there is more than one beneficiary, the shortest life expectancy is used. These minimum distributions must begin by December 31st of the calendar year following the year of your death. In some situations, a spouse beneficiary who elects to continue the contract in your name under the beneficiary continuation option instead of electing successor survivor/owner annuitant status may choose to delay beginning the minimum distributions until the December 31st of the calendar year in which you would have turned age 70 1/2. 2. Five Year Rule. The beneficiary can take withdrawals as desired. If the beneficiary does not withdraw the entire account value by the December 31st of the fifth calendar year following your death, we will pay any amounts remaining under the contract to the beneficiary by that date. If you have more than one beneficiary, and one of them elects this option, then all of your beneficiaries will receive this option. 7 TAX INFORMATION ----- 38 -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST Express contracts owned by United States taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA or Roth IRA. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights under the contract, or payments under the contract may be subject to gift or estate taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an IRA annuity contract such as this one, or an IRA custodial or other qualified account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as the guaranteed minimum death benefit, selection of investment funds and fixed maturity options and choices of payout options of EQUI-VEST Express, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the investment options or funds that you elect. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). All nonqualified deferred annuity contracts that Equitable Life and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. ----- 39 -------------------------------------------------------------------------------- ANNUITY PAYMENTS Once annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your "investment in the contract." Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total amount you are expected to receive out of the contract, and (2) multiplying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. PAYMENTS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES You may purchase your NQ contract through an exchange of another contract. Normally, exchanges of contracts are taxable events. The exchange will not be taxable under Section 1035 of the Internal Revenue Code if: o the contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract (or life insurance or endowment contract). o the owner and the annuitant are the same under the source contract and the EQUI-VEST Express NQ contract. If you are using a life insurance or endowment contract the owner and the insured must be the same on both sides of the exchange transaction. The tax basis, also referred to as your investment in your contract of the source contract carries over to the EQUI-VEST Express NQ contract. A recent case permitted an owner to direct the proceeds of a partial withdrawal from one nonqualified deferred annuity contract to a different insurer to purchase a new nonqualified deferred annuity contract on a tax-deferred basis. Special forms, agreements between the carriers, and provision of cost basis information may be required to process this type of exchange. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. Death benefit payments made to a beneficiary after your death For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59 1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59 1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or ----- 40 -------------------------------------------------------------------------------- o in the form of substantially equal periodic annuity payments for your life (or life expectancy) or the joint lives (or joint life expectancy) of you and a beneficiary. OTHER INFORMATION The IRS has stated that you will be considered the owner of the assets in the separate account if you possess incidents of ownership in those assets, such as the ability to exercise investment control over the assets. The Treasury Department has the authority to issue guidelines prescribing the circumstances in which your ability to direct your investment to a particular Portfolio within a separate account may cause you, rather than the insurance company, to be treated as the owner of the portfolio shares attributable to your nonqualified annuity contract. If you were to be considered the owner of the underlying shares, income and gains attributable to such portfolio shares would be currently included in your gross income for federal income tax purposes. Incidents of investment control could include among other items, the number of investment options available under a contract and/or the frequency of transfers available under the contract. In connection with the issuance of regulations concerning investment diversification in 1986, the Treasury Department announced that the diversification regulations did not provide guidance on investor control but that guidance would be issued in the form of regulations or rulings. As of the date of this prospectus, no such guidance has been issued. It is not known whether such guidelines, if in fact issued, would have retroactive adverse effect on existing contracts. We cannot provide assurance as to the terms or scope of any future guidance nor any assurance that such guidance would not be imposed on a retroactive basis to contracts issued under this prospectus. We reserve the right to modify the contract as necessary to attempt to prevent you from being considered the owner of the assets of Separate Account A for tax purposes. SPECIAL RULES FOR NQ CONTRACTS ISSUED IN PUERTO RICO Under current law we treat income from NQ contracts as U.S. source. A Puerto Rico resident is subject to U.S. taxation on such U.S. source income. Only Puerto Rico source income of Puerto Rico residents is excludable from U.S. taxation. Income from NQ contracts is also subject to Puerto Rico tax. The calculation of the taxable portion of amounts distributed from a contract may differ in the two jurisdictions. Therefore, you might have to file both U.S. and Puerto Rico tax returns, showing different amounts of income from the contract for each tax return. Puerto Rico generally provides a credit against Puerto Rico tax for U.S. tax paid. Depending on your personal situation and the timing of the different tax liabilities, you may not be able to take full advantage of this credit. INDIVIDUAL RETIREMENT ARRANGEMENTS ("IRAS") GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets funding the account for the benefit of the IRA owner. The assets typically include mutual funds and/or individual stocks and securities in a custodial account, and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o Traditional IRAs, typically funded on a pre-tax basis including SEP-IRAs and SIMPLE-IRAs, issued and funded in connection with employer-sponsored retirement plans. EQUI-VEST Express traditional IRA and QP IRA are traditional IRAs. o Roth IRAs, first available in 1998, funded on an after-tax basis. EQUI-VEST Express Roth IRA is a Roth IRA. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral, regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you ----- 41 -------------------------------------------------------------------------------- own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS Web site (www.irs.gov). Equitable Life designs its traditional IRA contracts to qualify as "individual retirement annuities" under Section 408(b) of the Internal Revenue Code. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. This section of the prospectus covers some of the special tax rules that apply to IRAs. The next section covers Roth IRAs. Education IRAs are not discussed in this prospectus because they are not available in individual retirement annuity form. The EQUI-VEST Express traditional and Roth IRA contracts have been approved by the IRS as to form for use as a traditional IRA and Roth IRA, respectively. This IRS approval is a determination only as to the form of the annuity. It does not represent a determination of the merits of the annuity as an investment. The IRS approval does not address every feature possibly available under the EQUI-VEST Express traditional and Roth IRA contracts. CANCELLATION You can cancel any version of the EQUI-VEST Express IRA contract (traditional IRA, QP IRA, or Roth IRA) by following the directions under "Your right to cancel within a certain number of days" in "Contract features and benefits" earlier in the prospectus. You can cancel an EQUI-VEST Express Roth IRA contract issued as a result of a full or partial conversion of any EQUI-VEST traditional IRA contract by following the instructions in the "EQUI-VEST Roth IRA Re-Characterization Form." The form is available from our processing office or your financial professional. If you cancel a traditional IRA, or Roth IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Individuals may make three different types of contributions to a traditional IRA: o regular contributions out of earned income or compensation; or o tax-free "rollover" contributions; or o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). REGULAR CONTRIBUTIONS TO TRADITIONAL IRAS The EQUI-VEST Express traditional IRA is intended to receive regular contributions. Regular contributions are not permitted for QP IRAs. LIMITS ON CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, $2,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs) in any taxable year. When your earnings are below $2,000, your earned income or compensation for the year is the most you can contribute. This $2,000 limit does not apply to rollover contributions or direct custodian-to -custodian transfers into a traditional IRA. You cannot make regular contributions for the tax year in which you reach age 70 1/2 or any tax year after that. SPECIAL RULES FOR SPOUSES. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to traditional IRAs (and Roth IRAs discussed below). Even if one spouse has no compensation or compensation under $2,000, married individuals filing jointly can contribute up to $4,000 for any taxable year to any combination of traditional IRAs and Roth IRAs. (Any contributions to Roth IRAs reduce the ability to contribute to traditional IRAs and vice versa.) The maximum amount may be less if earned income is less and the other spouse has made IRA contributions. No more than a combined total of $2,000 can be contributed annually to either spouse's traditional IRAs and Roth IRAs. Each spouse owns his or her traditional IRAs and Roth IRAs even if the other spouse funded the contributions. A working spouse age 70 1/2 or over can ----- 42 -------------------------------------------------------------------------------- contribute up to the lesser of $2,000 or 100% of "earned income" to a traditional IRA for a nonworking spouse until the year in which the nonworking spouse reaches age 70 1/2. DEDUCTIBILITY OF CONTRIBUTIONS. The amount of traditional IRA contributions that you can deduct for a tax year depends on whether you are covered by an employer-sponsored tax-favored retirement plan, as defined under special federal income tax rules. Your Form W-2 will indicate whether or not you are covered by such a retirement plan. IF YOU ARE NOT COVERED BY A RETIREMENT PLAN DURING ANY PART OF THE YEAR, you can make fully deductible contributions to your traditional IRAs for each tax year up to $2,000 or, if less, your earned income. IF YOU ARE COVERED BY A RETIREMENT PLAN DURING ANY PART OF THE YEAR, and your adjusted gross income (AGI) is BELOW THE LOWER DOLLAR FIGURE IN A PHASE-OUT RANGE, you can make fully deductible contributions to your traditional IRAs. For each tax year your fully deductible contribution can be up to $2,000 or, if less, your earned income. IF YOU ARE COVERED BY A RETIREMENT PLAN DURING ANY PART OF THE YEAR, and your AGI falls within a PHASE-OUT range, you can make partially deductible contributions to your traditional IRAs. IF YOU ARE COVERED BY A RETIREMENT PLAN DURING ANY PART OF THE YEAR, and your AGI falls ABOVE THE HIGHER FIGURE IN THE PHASE-OUT RANGE, you may not deduct any of your regular contributions to your traditional IRAs. If you are single and covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $33,00 and $43,000 in 2001. This range will increase every year until 2005 when the range is $50,000-$60,000. If you are married and file a joint return, and you are covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $53,000 and $63,000 in 2001. This range will increase every year until 2007 when the range is $80,000-$100,000. Married individuals filing separately and living apart at all times are not considered married for purposes of this deductible contribution calculation. Generally, the active participation in an employer-sponsored retirement plan of an individual is determined independently for each spouse. Where spouses have "married filing jointly" status, however, the maximum deductible traditional IRA contribution for an individual who is not an active participant (but whose spouse is an active participant) is phased out for taxpayers with AGI of between $150,000 and $160,000. To determine the deductible amount of the contribution in 2001, you determine AGI and subtract $33,000 if you are single, or $53,000 if you are married and file a joint return with your spouse. The resulting amount is your Excess AGI. You then determine the limit on the deduction for traditional IRA contributions using the following formula: ($10,000-excess AGI) times $2,000 (or earned Equals the adjusted ------------------------- x income, if less) = deductible divided by $10,000 contribution limit NONDEDUCTIBLE REGULAR CONTRIBUTIONS. If you are not eligible to deduct part or all of the traditional IRA contribution, you may still make nondeductible contributions on which earnings will accumulate on a tax-deferred basis. The combined deductible and nondeductible contributions to your traditional IRA (or the nonworking spouse's traditional IRA) may not, however, exceed the maximum $2,000 per person limit. See "Excess Contributions" below. You must keep your own records of deductible and nondeductible contributions in order to prevent double taxation on the distribution of previously taxed amounts. See "Withdrawals, payments and transfers of funds out of Traditional IRAs" below. If you are making nondeductible contributions in any taxable year, or you have made nondeductible contributions to a traditional IRA in prior years and are receiving distributions from any traditional IRA, you must file the required information with the IRS. Moreover, if you are making nondeductible traditional IRA contributions, you must retain all income tax returns and records pertaining to such contributions until interests in all traditional IRAs are fully distributed. ----- 43 -------------------------------------------------------------------------------- WHEN YOU CAN MAKE REGULAR CONTRIBUTIONS. If you file your tax returns on a calendar year basis like most taxpayers, you have until the April 15th return filing deadline (without extensions) of the following calendar year to make your regular contributions for a tax year. EXCESS CONTRIBUTIONS Excess contributions to IRAs are subject to a 6% excise tax for the year in which made and for each year after until withdrawn. The following are excess contributions to IRAs: o regular contributions of more than $2,000; or o regular contributions of more than earned income for the year, if that amount is under $2,000; or o regular contributions to a traditional IRA made after you reach age 70 1/2; or o rollover contributions of amounts which are not eligible to be rolled over. For example, after-tax contributions to a qualified plan or minimum distributions required to be made after age 70 1/2. You can avoid the excise tax by withdrawing an excess contribution (rollover or regular) before the due date (including extensions) for filing your federal income tax return for the year. If it is an excess regular contribution, you cannot take a tax deduction for the amount withdrawn. You do not have to include the excess contribution withdrawn as part of your income. It is also not subject to the 10% additional penalty tax on early distributions discussed below in "Early distribution penalty tax." You do have to withdraw any earnings that are attributed to the excess contribution. The withdrawn earnings would be included in your gross income and could be subject to the 10% penalty tax. Even after the due date for filing your return, you may withdraw an excess rollover contribution, without income inclusion or 10% penalty, if: (1) the rollover was from a qualified retirement plan to a traditional IRA; (2) the excess contribution was due to incorrect information that the plan provided; and (3) you took no tax deduction for the excess contribution. RECHARACTERIZATIONS Amounts that have been contributed as traditional IRA funds may subsequently be treated as Roth IRA funds. Special federal income tax rules allow you to change your mind again and have amounts that are subsequently treated as Roth IRA funds, once again treated as traditional IRA funds. You do this by using the forms we prescribe. This is referred to as having "recharacterized" your contribution. ROLLOVERS AND TRANSFERS Rollover contributions may be made to a traditional IRA from these sources: o qualified plans; o TSAs (including Internal Revenue Code Section 403(b)(7) custodial accounts); and o other traditional IRAs. Any amount contributed to a traditional IRA after you reach your Required Beginning Date for Minimum distributions (generally after age 70 1/2) must be net of your required minimum distribution for the year in which the rollover or direct transfer contribution is made. ROLLOVERS FROM QUALIFIED PLANS OR TSAS There are two ways to do rollovers: o do it yourself You actually receive a distribution that can be rolled over and you roll it over to a traditional IRA within 60 days after the date you receive the funds. The distribution from your qualified plan or TSA will be net of 20% mandatory federal income tax withholding. If you want, you can replace the withheld funds yourself and roll over the full amount. o direct rollover You tell your qualified plan trustee or TSA issuer/custodian/fiduciary to send the distribution directly to ----- 44 -------------------------------------------------------------------------------- your traditional IRA issuer. Direct rollovers are not subject to mandatory federal income tax withholding. All distributions from a TSA or qualified plan are eligible rollover distributions, unless the distribution is: o only after-tax contributions you made to the plan; or o "required minimum distributions" after age 70 1/2 or separation from service; or o substantially equal periodic payments made at least annually for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary; or o a hardship withdrawal; or o substantially equal periodic payments made for a specified period of 10 years or more; or o corrective distributions that fit specified technical tax rules; or o loans that are treated as distributions; or o a death benefit payment to a beneficiary who is not your surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not your current spouse or former spouse. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. The surviving spouse beneficiary of a deceased individual can roll over or directly transfer an inherited traditional IRA to one or more other traditional IRAs. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also taxable. Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. You must keep permanent tax records of all of your nondeductible contributions to traditional IRAs. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible Traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. In addition, a distribution is not taxable if: o the amount received is a withdrawal of excess contributions, as described under "Excess contributions" above; or o the entire amount received is rolled over to another traditional IRA (see "Rollovers and transfers" above); or o in certain limited circumstances, where the traditional IRA acts as a conduit, you roll over the entire amount into a qualified plan or TSA that accepts rollover contributions. To get this conduit Traditional IRA treatment: ----- 45 -------------------------------------------------------------------------------- o the source of funds you used to establish the traditional IRA must have been a rollover contribution from a qualified plan, and o the entire amount received from the traditional IRA (including any earnings on the rollover contribution) must be rolled over into another qualified plan within 60 days of the date received. Similar rules apply in the case of a TSA. However, you may lose conduit treatment, if you make an eligible rollover distribution contribution to a Traditional IRA and you commingle this contribution with other contributions. In that case, you may not be able to roll over these eligible rollover distribution contributions and earnings to another qualified plan or TSA at a future date. The EQUI-VEST Express QP IRA contract can be used as a conduit IRA if amounts are not commingled. Distributions from a traditional IRA are not eligible for ten-year averaging and long-term capital gain treatment available to certain distributions from qualified plans. REQUIRED MINIMUM DISTRIBUTIONS -------------------------------------------------------------------------------- The IRS and Treasury have recently proposed revisions to the minimum distribution rules. We expect these rules to be finalized no earlier than January 1, 2002. The proposed revisions permit IRA owners and beneficiaries to apply the proposed revisions to distributions for calendar year 2001. The discussion below generally does not reflect the proposed revisions. See the Statement of Additional Information for a brief description of the proposed revisions. -------------------------------------------------------------------------------- LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your Traditional IRAs for the year in which you turn age 70 1/2. When you have to take the first required minimum distribution. The first required minimum distribution is for the calendar year in which you turn age 70 1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70 1/2, or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70 1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." Account-based method. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a life expectancy factor from IRS tables. This gives you the required minimum distribution amount for that particular IRA for that year. The required minimum distribution amount will vary each year as the account value and your life expectancy factors change. You have a choice of life expectancy factors, depending on whether you choose a method based only on your life expectancy, or the joint life expectancies of you and another individual. You can decide to "recalculate" your life expectancy every year by using your current life expectancy factor. You can decide instead to use the "term certain" method, where you reduce your life expectancy by one every year after the initial year. If your spouse is your designated beneficiary for the purpose of calculating annual account-based required minimum distributions, you can also annually recalculate your spouse's life expectancy if you want. If you choose someone who is not your spouse as your designated beneficiary for the purpose of calculating annual account-based required minimum distributions, you have to use the term certain method of calculating that person's life expectancy. If you pick a nonspouse designated beneficiary, you may also have to do another special calculation. You can later apply your traditional IRA funds to a life annuity-based payout. You can only do this if you already chose to recalculate your life expectancy annually (and your spouse's life expectancy if you select a spousal joint annuity). For ----- 46 -------------------------------------------------------------------------------- example, if you anticipate selecting any form of life annuity payout after you are age 70 1/2, you must have elected to recalculate life expectancies. Annuity-based method. If you choose an annuity-based method you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary, or for a period certain not extending beyond applicable life expectancies. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method and a different beneficiary for each of your Traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan, and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? No, unless you affirmatively select an annuity payout option or an account-based withdrawal option such as our minimum distribution withdrawal option. Because the options we offer do not cover every option permitted under federal income tax rules, you may prefer to do your own required minimum distribution calculations for one or more of your traditional IRAs. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice-versa. However, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that your age 70 1/2 is approaching. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? If you die after either (a) the start of annuity payments, or (b) your Required Beginning Date, your beneficiary must receive payment of the remaining values in the contract at least as rapidly as under the distribution method before your death. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70 1/2. If you die before your Required Beginning Date and before annuity payments begin, federal income tax rules require complete distribution of your entire value in the contract within five years after your death. Payments to a designated beneficiary over the beneficiary's life or over a period certain that does not extend beyond the beneficiary's life expectancy are also permitted, if these payments start within one year of your death. A surviving spouse beneficiary can also (a) delay starting any payments until you would have reached age 70 1/2 or (b) roll over your traditional IRA into his or her own traditional IRA. SUCCESSOR OWNER AND ANNUITANT If your spouse is the sole primary beneficiary and elects to become the successor owner and annuitant, no death benefit is payable until your surviving spouse's death. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. ----- 47 -------------------------------------------------------------------------------- BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59 1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59 1/2. Some of the available exceptions to the pre-age 59 1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o to pay certain first-time home buyer expenses (special federal income tax definition); or o to pay certain higher education expenses (special federal income tax definition -- there is a $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancy) using an IRS-approved distribution method. ROTH INDIVIDUAL RETIREMENT ANNUITIES ("ROTH IRAS") This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "Traditional IRAs." The EQUI-VEST Express Roth IRA contracts are designed to qualify as Roth individual retirement annuities under Sections 408(a) and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Individuals may make four different types of contributions to a Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from Traditional IRAs ("conversion" contributions); or o tax-free rollover contributions from other Roth IRAs; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). If you use the forms we require, we will also accept traditional IRA funds which are subsequently recharacterized as Roth IRA funds following special federal income tax rules. REGULAR CONTRIBUTIONS TO ROTH IRAS LIMITS ON REGULAR CONTRIBUTIONS. Generally, $2,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs) in any taxable year. This $2,000 limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a Roth IRA. Any contributions to Roth IRAs reduce your ability to contribute to traditional IRAs and vice versa. When your earnings are below $2,000, your earned income or compensation for the year is the most you can contribute. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular IRA and after-tax contributions you are permitted to make to Roth IRAs and traditional IRAs. See the discussion above under traditional IRAs. ----- 48 -------------------------------------------------------------------------------- With a Roth IRA, you can make regular contributions when you reach age 70 1/2, as long as you have sufficient earnings. But, you cannot make contributions for any year that: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is over $160,000; or, o your federal income tax filing status is "single" and your modified adjusted gross income is over $110,000. However, you can make regular Roth IRA contributions in reduced amounts when: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is between $150,000 and $160,000; or o your federal income tax filing status is "single" and your modified adjusted gross income is between $95,000 and $110,000. If you are married and filing separately and your modified adjusted gross income is between $0 and $10,000 the amount of regular contribution you are permitted to make is phased out. If your modified adjusted gross income is more than $10,000 you cannot make a regular Roth IRA contribution. WHEN YOU CAN MAKE CONTRIBUTIONS? Same as traditional IRAs. DEDUCTIBILITY OF CONTRIBUTIONS. Roth IRA contributions are not tax deductible. ROLLOVERS AND DIRECT TRANSFERS WHAT IS THE DIFFERENCE BETWEEN ROLLOVER AND DIRECT TRANSFER TRANSACTIONS? You may make rollover contributions to a Roth IRA from only two sources: o another Roth IRA ("tax-free rollover contribution"); or o another traditional IRA, including a SEP-IRA or SIMPLE IRA (after a two-year rollover limitation period for SIMPLE-IRA funds) in a taxable "conversion" rollover ("conversion contribution"). You may not make contributions to a Roth IRA from a qualified plan under Section 401(a) of the Internal Revenue Code, or a TSA under Section 403(b) of the Internal Revenue Code. You may make direct transfer contributions to a Roth IRA only from another Roth IRA. The difference between a rollover transaction and a direct transfer transaction is the following. In a rollover transaction you actually take possession of the funds rolled over, or are considered to have received them under tax law in the case of a change from one type of plan to another. In a direct transfer transaction, you never take possession of the funds, but direct the first Roth IRA custodian, trustee, or issuer to transfer the first Roth IRA funds directly to Equitable Life, as the Roth IRA issuer. You can make direct transfer transactions only between identical plan types (for example, Roth IRA to Roth IRA). You can also make rollover transactions between identical plan types. However, you can only use rollover transactions between different plan types (for example, traditional IRA to Roth IRA). You may make both Roth IRA to Roth IRA rollover transactions and Roth IRA to Roth IRA direct transfer transactions. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. Also, if you send us the rollover contribution to apply it to a Roth IRA, you must do so within 60 days after you receive the proceeds from the original IRA to get rollover treatment. The surviving spouse beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. CONVERSION CONTRIBUTIONS TO ROTH IRAS In a conversion rollover transaction, you withdraw (or are considered to have withdrawn) all or a portion of funds from a traditional IRA you maintain and convert it to a Roth IRA within 60 days after you receive (or are considered to have received) the traditional IRA proceeds. Unlike a rollover from a traditional IRA to another traditional IRA, the conversion rollover ----- 49 -------------------------------------------------------------------------------- transaction is not tax-free. Instead, the distribution from the traditional IRA is generally fully taxable. For this reason, we are required to withhold 10% federal income tax from the amount converted unless you elect out of such withholding. (If you have ever made nondeductible regular IRA contributions to any traditional IRA -- whether or not it is the traditional IRA you are converting -- a pro rata portion of the distribution is tax-free.) There is, however, no early distribution penalty tax on the traditional IRA withdrawal that you are converting to a Roth IRA, even if you are under age 59 1/2. You cannot make conversion contributions to a Roth IRA for any taxable year in which your modified adjusted gross income exceeds $100,000. (For this purpose, your modified adjusted gross income is calculated without the gross income stemming from the traditional IRA conversion.) You also cannot make conversion contributions to a Roth IRA for any taxable year in which your federal income tax filing status is "married filing separately." Finally, you cannot make conversion contributions to a Roth IRA to the extent that the funds in your traditional IRA are subject to the annual required minimum distribution rule applicable to traditional IRAs beginning at age 70 1/2. You cannot convert and reconvert an amount during the same taxable year, or if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed Roth IRA conversion. RECHARACTERIZATIONS You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. HOW TO RECHARACTERIZE. To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a deemed trustee-to-trustee transfer. If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. It will be treated as having been made to the second IRA on the same date that it was actually made to the first IRA. You must report the recharacterization, and must treat the contribution as having been made to the second IRA, instead of the first IRA, on your tax return for the year during which the contribution was made. The contribution will not be treated as having been made to the second IRA unless the transfer includes any net income allocable to the contribution. You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be transferred. If there was a loss, the net income you must transfer may be a negative amount. No deduction is allowed for the contribution to the first IRA and any net income transferred with the recharacterized contribution is treated as earned in the second IRA. The contribution will not be treated as having been made to the second IRA to the extent any deduction was allowed with respect to the contribution to the first IRA. For recharacterization purposes, a distribution from a traditional IRA that is received in one tax year and rolled over into a Roth IRA in the next year, but still within 60 days of the distribution from the traditional IRA, is treated as a contribution to the Roth IRA in the year of the distribution from the traditional IRA. Roth IRA conversion contributions from a SEP-IRA or SIMPLE IRA can be recharacterized to a SEP-IRA or SIMPLE IRA (including the original SEP-IRA or SIMPLE IRA). To recharacterize a contribution you must use our forms. The recharacterization of a contribution is not treated as a rollover for purposes of the 12 month limitation period described above. This rule applies even if the contribution would have been treated as a rollover contribution by the second IRA if it had been made directly to the second IRA rather than as a result of a recharacterization of a contribution to the first IRA. ----- 50 -------------------------------------------------------------------------------- WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS No federal income tax law restrictions on withdrawals. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender and termination of your contract and annuity payments from your contract. Death benefits are also distributions. The following distributions from Roth IRAs are free of income tax: o Rollovers from a Roth IRA to another Roth IRA; o Direct transfers from a Roth IRA to another Roth IRA; o "Qualified distributions" from Roth IRAs; and o return of excess contributions or amounts recharacterized to a traditional IRA. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you reach age 59 1/2; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). It is not possible to have a tax-free qualified distribution before the year 2003 because of the five-year aging requirement. NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amounts distributed, distributions and contributions are aggregated or grouped and added together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- within any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules in the case of any conversion in which the conversion distribution ----- 51 -------------------------------------------------------------------------------- is made in 2001 and the conversion contribution is made in 2002, the conversion contribution is treated as contributed prior to other conversion contributions made in 2002. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to the special favorable five-year averaging method (or, in certain cases, favorable ten-year averaging and long-term capital gain treatment) available in certain cases to distributions from qualified plans. REQUIRED MINIMUM DISTRIBUTIONS AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?" Lifetime minimum distribution requirements do not apply. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. EXCESS CONTRIBUTIONS Generally the same as traditional IRA, except that regular contributions made after age 70 1/2 are not "excess contributions." Excess rollover contributions to Roth IRAs are contributions not eligible to be rolled over (for example, conversion contributions from a traditional IRA if your modified adjusted gross income is in excess of $100,000 in the conversion year). You can withdraw or recharacterize any contribution to a Roth IRA before the due date (including extensions) for filing your federal income tax return for the tax year. If you do this, you must also withdraw or recharacterize any earnings attributable to the contribution. EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. For Roth IRAs, special penalty rules may apply to amounts withdrawn attributable to 1998 conversion rollovers. FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. ----- 52 -------------------------------------------------------------------------------- You should note the following special situations: o we might have to withhold and/or report on amounts we pay under a free look or cancellation. o we are generally required to withhold on conversion rollovers of traditional IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $15,360 in periodic annuity payments in 2001 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender, termination, or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income.. IMPACT OF TAXES TO EQUITABLE LIFE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 8 MORE INFORMATION ----- 53 -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. The results of Separate Account A's operations are accounted for without regard to Equitable Life's other operations. Separate Account A is registered under the Investment Company Act of 1940 and is classified by that act as a "unit investment trust." The SEC, however, does not manage or supervise Equitable Life or Separate Account A. Each subaccount (variable investment option) within Separate Account A invests solely in Class IB shares issued by the corresponding portfolio of EQ Advisors Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; and (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies. ABOUT EQ ADVISORS TRUST EQ Advisors Trust is registered under the Investment Company Act of 1940. It is classified as an "open-end management investment company," more commonly called a mutual fund. EQ Advisors Trust issues different shares relating to each of its portfolios. Equitable Life serves as the investment manager of EQ Advisors Trust. As such, Equitable Life oversees the activities of the investment advisors with respect to EQ Advisors Trust and is responsible for retaining or discontinuing the services of those advisors. (Prior to September 1999, EQ Financial Consultants, Inc. the predecessor to AXA Advisors, LLC and an affiliate of Equitable Life served as investment manager to EQ Advisors Trust.) EQ Advisors Trust commenced operations on May 1, 1997. For periods prior to October 18, 1999 the Alliance portfolios (other than EQ/Alliance Premier Growth) were part of The Hudson River Trust. On October 18, 1999, the assets of these portfolios became the corresponding portfolios of EQ Advisors Trust. EQ Advisors Trust does not impose sales charges or "loads" for buying and selling its shares. All dividends and other distributions on Trust shares are reinvested in full. The Board of Trustees of EQ Advisors Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about EQ Advisors Trust, the portfolio investment objectives, policies, restrictions, risks, expenses, their Rule 12b-1 Plan relating to its Class IB shares, and other aspects of its operations, appears in the prospectus for EQ Advisors Trust attached at the end of this prospectus, or in its SAI which is available upon request. More information ----- 54 -------------------------------------------------------------------------------- ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of March 1, 2001 and the related price per $100 of maturity value were as shown below.
-------------------------------------------------------------------------------- FIXED MATURITY OPTIONS WITH JUNE 15 MATURITY DATE RATE TO MATURITY OF AS OF PRICE PER $100 OF MATURITY YEAR MARCH 1, 2001 MATURITY VALUE -------------------------------------------------------------------------------- 2001 3.55% $ 99.00 2002 4.05% $ 95.03 2003 4.80% $ 89.85 2004 5.00% $ 85.17 2005 5.20% $ 80.46 2006 5.30% $ 76.10 2007 5.45% $ 71.63 2008 5.60% $ 67.24 2009 5.75% $ 62.92 2010 5.85% $ 58.98 --------------------------------------------------------------------------------
HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) we determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) we determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) we determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) we determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix II for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be More information ----- 55 -------------------------------------------------------------------- determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Because of exemptions and exclusionary provisions that apply, interests in the general account have not been registered under the Securities Act of 1933, nor is the general account an investment company under the Investment Company Act of 1940. However, the market value adjustment interests under the contracts are registered under the Securities Act of 1933. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account (other than market value adjustment interests). The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. ABOUT OTHER METHODS OF PAYMENT AUTOMATIC INVESTMENT PROGRAM -- FOR NQ, TRADITIONAL IRA, AND ROTH IRA CONTRACTS You may use our automatic investment program, or "AIP," to have a specified amount automatically deducted from a checking account, money market account, or credit union checking account and contributed as an additional contribution into an NQ, Traditional IRA, or Roth IRA contract on a monthly basis. Contributions to all forms of IRAs are subject to the limitations and requirements discussed in "Tax Information." AIP additional contributions may be allocated to any of the variable investment options but not the fixed maturity options. Our minimum contribution amount requirement is $20. You choose the day of the month you wish to have your account debited. However, you may not choose a date later than the 28th day of the month. More information ----- 56 -------------------------------------------------------------------------------- You may cancel AIP at any time by notifying our processing office. We are not responsible for any debits made to your account before the time written notice of cancellation is received at our processing office. PAYROLL DEDUCTION PROGRAM. You can authorize your employer to remit your NQ, IRA and Roth IRA contributions to us if your employer has a payroll deduction program. Those contributions are still your contributions, not your employer's. WIRE TRANSFERS. You may also send your contributions by wire transfer from your bank. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our business day is generally any day on which Equitable Life is open and the New York Stock Exchange is open for trading. We are closed on national business holidays including Martin Luther King, Jr. Day and the Friday after Thanksgiving. Additionally, we may choose to close on the day immediately preceding or following a national business holiday or due to emergency conditions. Our business day generally ends at 4:00 p.m., Eastern Time for purposes of determining the date when contributions are applied and any other transaction requests are processed. We may close earlier due to emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer, or any other transaction request, containing all the required information, reaches us on a non-business day or after 4:00 p.m., Eastern time on a business day, we will use the next business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. o Quarterly rebalancing will be processed on a calendar year basis and semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. CONTRIBUTIONS AND TRANSFERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the close of the business day. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the close of the business day. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For general dollar-cost averaging, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. ABOUT YOUR VOTING RIGHTS As the owner of the shares of EQ Advisors Trust we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; or o the formal approval of independent auditors selected for EQ Advisors Trust; or More information ----- 57 -------------------------------------------------------------------------------- o any other matters described in the prospectus for EQ Advisors Trust or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. VOTING RIGHTS OF OTHERS Currently, we control EQ Advisors Trust. EQ Advisors Trust shares are sold to our separate accounts and an affiliated qualified plan trust. In addition, shares of EQ Advisors Trust are held by separate accounts of insurance companies unaffiliated with us. Shares held by these separate accounts will probably be voted according to the instructions of the owners of insurance policies and contracts issued by those insurance companies. While this will dilute the effect of the voting instructions of the contract owners, we currently do not foresee any disadvantages because of this. The Board of Trustees of EQ Advisors Trust intends to monitor events in order to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a response to any of those events insufficiently protects our contract owners, we will see to it that appropriate action is taken. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS Equitable Life and its affiliates are parties to various legal proceedings. In our view, none of these proceedings is likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. ABOUT OUR INDEPENDENT ACCOUNTANTS The consolidated financial statements of Equitable Life at December 31, 2000 and 1999, and for the three years ended December 31, 2000 incorporated in this prospectus by reference to the 2000 Annual Report on Form 10-K are incorporated in reliance on the report of PricewaterhouseCoopers LLP, independent accountants, given on the authority of said firm as experts in auditing and accounting. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of Equitable Life, are in the SAI. The SAI is available free of charge. You may request one by writing to our processing office or calling 1-800-628-6673. More information ----- 58 -------------------------------------------------------------------------------- TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. You cannot assign your NQ contract as collateral or security for a loan. Loans are also not available under your NQ contract. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. You cannot assign or transfer ownership of a Traditional IRA, QP IRA, or Roth IRA contract except by surrender to us. Loans are not available and you cannot assign Traditional IRA, QP IRA and Roth IRA contracts as security for a loan or other obligation. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your Traditional IRA, QP IRA or Roth IRA contract to another similar arrangement under federal income tax rules. In the case of such a transfer, we will impose a withdrawal charge if one applies. DISTRIBUTION OF THE CONTRACTS AXA Advisors, LLC ("AXA Advisors"), the successor to Equitable Financial Consultants, Inc., and an affiliate of Equitable Life, is the distributor of the contracts and has responsibility for sales and marketing functions for Separate Account A. AXA Advisors serves as the principal underwriter of Separate Account A. AXA Advisors is registered with the SEC as a broker-dealer and is a member of the National Association of Securities Dealers, Inc. AXA Advisors' principal business address is 1290 Avenue of the Americas, New York, NY 10104. The contracts are sold by financial professionals who are registered representatives of AXA Advisors and its affiliates, who are also our licensed insurance agents. AXA Advisors may also receive compensation and reimbursement for its marketing services under the terms of its distribution agreement with Equitable Life. The offering of the contracts is intended to be continuous. More information 9 INVESTMENT PERFORMANCE ----- 59 -------------------------------------------------------------------------------- The table below shows the average annual total return of the variable investment options. Average annual total return is the annual rate of growth that would be necessary to achieve the ending value of a contribution invested in the variable investment options for the periods shown. The table takes into account all current fees and charges under the contract, including the withdrawal charge, and the annual administrative charge but does not reflect the charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state or any applicable annuity administrative fee. The results shown are based on the actual historical investment experience of the portfolios in which the variable investment options invest. In some cases, the results shown relate to periods when the variable investment options were not available. In those cases, we adjusted the results of the portfolios to reflect the charges under the contracts that would have applied had the investment options and/or contracts been available. For the "Alliance" portfolios (other than EQ/Alliance Premier Growth and EQ/Alliance Technology), we have adjusted the results prior to October 1996, when Class IB shares for these portfolios were not available, to reflect the 12b-1 fees currently imposed. Finally, the results shown for the EQ/Alliance Money Market, EQ/Balanced, EQ/Alliance Common Stock and EQ/Aggressive Stock options for periods before those options were operated as part of a unit investment trust reflect the results of the separate accounts that preceded them. The "Since portfolio inception" figures for these options are based on the date of inception of the preceding separate accounts. We have adjusted these results to reflect the fee and expense structure in effect for Separate Account A as a unit investment trust. See "The reorganization" in the SAI for additional information. EQ Advisors Trust commenced operations on May 1, 1997. For periods prior to October 18, 1999, the Alliance portfolios (other than EQ/Alliance Premier Growth and EQ/Alliance Technology) were part of The Hudson River Trust. On October 18, 1999, those portfolios became corresponding portfolios of EQ Advisors Trust. In each case, the performance shown is for the indicated EQ Advisors Trust portfolio and any predecessors that it may have had. All rates of return presented are time-weighted and include reinvestment of investment income, including interest and dividends. THE PERFORMANCE INFORMATION SHOWN BELOW AND THE PERFORMANCE INFORMATION THAT WE ADVERTISE REFLECT PAST PERFORMANCE AND DO NOT INDICATE HOW THE VARIABLE INVESTMENT OPTIONS MAY PERFORM IN THE FUTURE. SUCH INFORMATION ALSO DOES NOT REPRESENT THE RESULTS EARNED BY ANY PARTICULAR INVESTOR. YOUR RESULTS WILL DIFFER. Investment performance ----- 60 --------------------------------------------------------------------------------
TABLE AVERAGE ANNUAL TOTAL RETURN UNDER A CONTRACT SURRENDERED ON DECEMBER 31, 2000 LENGTH OF INVESTMENT PERIOD VARIABLE INVESTMENT OPTIONS 1 YEAR 3 YEARS 5 YEARS EQ/Aggressive Stock (22.88%) ( 4.21%) 2.86% EQ/Alliance Common Stock (23.76%) 6.58% 13.77% EQ/Alliance Global (28.24%) 6.03% 7.98% EQ/Alliance Growth and Income ( 1.50%) 10.94% 15.08% EQ/Alliance Growth Investors (16.66%) 6.95% 9.18% EQ/Alliance High Yield (18.56%) (11.41%) (0.21%) EQ/Alliance Intermediate Government Securities ( 1.30%) 0.37% 1.21% EQ/Alliance International (32.40%) 0.23% 0.30% EQ/Alliance Money Market ( 4.11%) 0.29% 1.10% EQ/Alliance Premier Growth (27.78%) -- -- EQ/Alliance Quality Bond 1.02% 0.69% 2.13% EQ/Alliance Small Cap Growth 3.32% 6.62% -- EQ/Balanced (11.46%) 6.02% 8.03% EQ/Capital Guardian Research ( 4.19%) -- -- EQ/Capital Guardian U.S. Equity ( 6.45%) -- -- EQ/Equity 500 Index (19.45%) 6.59% 14.04% EQ/Evergreen Omega (21.30%) -- -- EQ/FI Small/Mid Cap Value ( 4.94%) ( 6.44%) -- EQ/Mercury Basic Value Equity 1.54% 9.28% -- EQ/MFS Emerging Growth Companies (28.21%) 19.39% -- EQ/MFS Investors Trust (10.60%) -- -- EQ/MFS Research (15.03%) 8.32% -- EQ/Morgan Stanley Emerging Markets Equity (48.80%) (10.40%) -- EQ/Putnam Growth & Income Value ( 3.35%) 0.96% -- EQ/T. Rowe Price International Stock (28.06%) 1.97% -- LENGTH OF INVESTMENT PERIOD SINCE SINCE OPTION PORTFOLIO VARIABLE INVESTMENT OPTIONS 10 YEARS INCEPTION+** INCEPTION+*** EQ/Aggressive Stock 11.35% 11.11% 11.11% EQ/Alliance Common Stock 14.81% 13.70% 10.06% EQ/Alliance Global 11.11% 8.30% 8.24% EQ/Alliance Growth and Income -- 13.24% 12.47% EQ/Alliance Growth Investors 12.04% 8.98% 11.77% EQ/Alliance High Yield 6.27% 1.46% 4.68% EQ/Alliance Intermediate Government Securities -- 2.04% 2.85% EQ/Alliance International -- 1.01% 1.80% EQ/Alliance Money Market 1.02% 3.74% 3.74% EQ/Alliance Premier Growth -- (10.52%) ( 8.35%) EQ/Alliance Quality Bond -- 2.23% 1.88% EQ/Alliance Small Cap Growth -- 9.28% 12.31% EQ/Balanced 8.33% 7.86% 7.86% EQ/Capital Guardian Research -- 2.95% 1.16% EQ/Capital Guardian U.S. Equity -- ( 2.17%) ( 2.26%) EQ/Equity 500 Index -- 15.75% 14.86% EQ/Evergreen Omega -- (11.52%) -- EQ/FI Small/Mid Cap Value -- ( 2.75%) ( 0.82%) EQ/Mercury Basic Value Equity -- 10.07% 12.04% EQ/MFS Emerging Growth Companies -- 19.67% 22.02% EQ/MFS Investors Trust -- ( 3.56%) -- EQ/MFS Research -- 9.35% 11.07% EQ/Morgan Stanley Emerging Markets Equity -- (15.99%) (15.99%) EQ/Putnam Growth & Income Value -- 3.40% 4.80% EQ/T. Rowe Price International Stock -- ( 0.25%) 0.79%
+ Unannualized if time since inception is less than one year ** The variable investment option inception dates are: EQ/Aggressive Stock and EQ/Balanced (1/27/86); EQ/Alliance Common Stock (8/27/81); EQ/Equity 500 Index (6/1/94); EQ/Alliance Global, EQ/Alliance Growth and Income, EQ/Alliance Growth Investors, EQ/Alliance High Yield and EQ/Alliance Quality Bond (1/4/94); EQ/Alliance Intermediate Government Securities (6/1/94); EQ/Alliance International (9/1/95); EQ/Alliance Money Market (7/13/81); EQ/Alliance Small Cap Growth, EQ/MFS Emerging Growth Companies, EQ/MFS Research, EQ/Mercury Basic Value Equity, EQ/Putnam Growth & Income Value, EQ/T. Rowe Price International Stock and EQ/FI Small/Mid Cap Value (6/2/97); EQ/Morgan Stanley Emerging Markets Equity (8/20/97); EQ/Evergreen Omega, EQ/MFS Investors Trust; EQ/Alliance Premier Growth, EQ/Capital Guardian Research, EQ/Bernstein Diversified Value and EQ/Capital Guardian U.S. Equity (8/30/99); EQ/Alliance Technology (5/1/00); EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive (9/1/00). No information is provided for portfolios and/or variable investment options with inception dates after 12/31/99. *** The inception dates for portfolios underlying the Alliance variable investment options shown in the tables are for portfolios of The Hudson River Trust, the assets of which became assets of corresponding portfolios of EQ Advisors Trust on 10/18/99. The portfolio inception dates are: EQ/Aggressive Stock and EQ/Balanced Investment performance -------- 61 -------------------------------------------------------------------------------- (1/27/86); EQ/Alliance Common Stock (8/1/68); EQ/Equity 500 Index (3/1/94); EQ/Alliance Global (8/27/87); EQ/Alliance Growth and Income (10/1/93); EQ/Alliance Growth Investors (10/2/89); EQ/Alliance High Yield (1/2/87); EQ/Alliance Intermediate Government Securities (4/1/91); EQ/Alliance International (4/3/95); EQ/Alliance Money Market (7/13/81); EQ/Alliance Quality Bond (10/1/93); EQ/Alliance Small Cap Growth, EQ/MFS Emerging Growth Companies, EQ/MFS Research, EQ/Mercury Basic Value Equity, EQ/Putnam Growth & Income Value, EQ/T. Rowe Price International Stock and EQ/FI Small/Mid Cap Value (5/1/97); EQ/Morgan Stanley Emerging Markets Equity (8/20/97); EQ/Bernstein Diversified Value (1/1/98); EQ/Evergreen Omega and EQ/MFS Investors Trust (1/1/99); EQ/Alliance Premier Growth, EQ/Capital Guardian Research and EQ/Capital Guardian U.S. Equity (5/1/99); EQ/Alliance Technology (5/1/00); and EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive (9/1/00). No information is provided for portfolios and/or variable investment options with inception dates after 12/31/99. Investment performance ----- 62 -------------------------------------------------------------------------------- COMMUNICATING PERFORMANCE DATA In reports or other communications to contract owners or in advertising material, we may describe general economic and market conditions affecting our variable investment options, and the portfolios and may compare the performance or ranking of those options and the portfolios with: o those of other insurance company separate accounts or mutual funds included in the rankings prepared by Lipper Analytical Services, Inc., Morningstar, Inc., VARDS, or similar investment services that monitor the performance of insurance company separate accounts or mutual funds; o other appropriate indices of investment securities and averages for peer universes of mutual funds; or o data developed by us derived from such indices or averages. We also may furnish to present or prospective contract owners advertisements or other communications that include evaluations of a variable investment option or portfolio by nationally recognized financial publications. Examples of such publications are: -------------------------------------------------------------------------------- Barron's Money Management Letter Morningstar's Variable Annuity Sourcebook Investment Dealers Digest National Underwriter Business Week Pension & Investments Forbes USA Today Fortune Investor's Business Daily Institutional Investor The New York Times Money The Wall Street Journal Kiplinger's Personal Finance The Los Angeles Times Financial Planning The Chicago Tribune Investment Adviser Investment Management Weekly -------------------------------------------------------------------- From time to time, we may also advertise different measurements of the investment performance of the variable investment options and/or the portfolios, including the measurements that compare the performance to market indices that serve as benchmarks. Market indices are not subject to any charges for investment advisory fees brokerage commission or other operating expenses typically associated with a managed portfolio. Also, they do not reflect other contract charges such as the mortality and expense risks charge, administrative charge or any withdrawal charge. Comparisons with these benchmarks, therefore, may be of limited use. We use them because they are widely known and may help you to understand the universe of securities from which each portfolio is likely to select its holdings. Lipper compiles performance data for peer universes of funds with similar investment objectives in its Lipper Survey. Morningstar, Inc. compiles similar data in the Morningstar Variable Annuity/Life Report (Morningstar Report). The Lipper Survey records performance data as reported to it by over 800 mutual funds underlying variable annuity and life insurance products. It divides these actively managed Portfolios into 25 categories by portfolio objectives. According to Lipper , the data are presented net of investment management fees, direct operating expenses and asset-based charges applicable under annuity contracts. Lipper data provide a more accurate picture than market benchmarks of the EQUI-VEST Express performance relative to other variable annuity products. The Lipper Survey contains two different universes, which reflect different types of fees in performance data: o The "separate account" universe reports performance data net of investment management fees, direct operating expenses and asset-based charges applicable under variable life and annuity contracts; and o The "mutual fund" universe reports performance net only of investment management fees and direct operating expenses, and, therefore, reflects only charges that relate to the underlying mutual fund. The Morningstar Variable Annuity/Life Report consists of nearly 700 variable life and annuity funds, all of which report their data net of investment management fees, direct operating expenses and separate account level charges. VARDS is a monthly reporting service that monitors approximately 2,500 variable life and variable annuity funds on performance and account information. YIELD INFORMATION Current yield for the EQ/Alliance Money Market option will be based on net changes in a hypothetical investment over a given seven-day period, exclusive of capital changes, and then Investment performance ----- 63 -------------------------------------------------------------------------------- "annualized" (assuming that the same seven-day result would occur each week for 52 weeks). Current yield for the other options will be based on net changes in a hypothetical investment over a given 30-day period, exclusive of capital changes, and then "annualized" (assuming that the same 30-day result would occur each month for 12 months). "Effective yield" is calculated in a similar manner, but when annualized, any income earned by the investment is assumed to be reinvested. The "effective yield" will be slightly higher than the "current yield" because any earnings are compounded weekly for the EQ/Alliance Money Market option. The current yields and effective yields assume the deduction of all current contract charges and expenses other than the annual administrative charge, withdrawal charge, and any charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. For more information, see "EQ/Alliance Money Market option yield information" and "Other yield information" in the SAI. Investment performance (This page intentionally left blank) 10 INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE ----- 65 -------------------------------------------------------------------------------- Equitable Life's Annual Report on Form 10-K, for the year ended December 31, 2000, is considered to be a part of this prospectus because it is incorporated by reference. After the date of this prospectus and before we terminate the offering of the securities under this prospectus, all documents or reports we file with the SEC under the Securities Exchange Act of 1934 ("Exchange Act"), will be considered to become part of this prospectus because they are incorporated by reference. Any statement contained in a document that is, or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a Web site that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is http://www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to The Equitable Life Assurance Society of the United States, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). Incorporation of certain documents by reference (This page intentionally left blank) Appendix I: CONDENSED FINANCIAL INFORMATION ----- A-1 --------------------------------------------------------------------------------
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER MAY 1, 2001. -------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, -------------------------------------------------------------------------------- 1999 2000 -------------------------------------------------------------------------------- ALLIANCE CONSERVATIVE INVESTORS -------------------------------------------------------------------------------- Unit value $ 104.41 $ 106.78 -------------------------------------------------------------------------------- Number of units outstanding (000's) 4 34 -------------------------------------------------------------------------------- EQ/AGGRESSIVE STOCK -------------------------------------------------------------------------------- Unit value $ 112.33 $ 96.42 -------------------------------------------------------------------------------- Number of units outstanding (000s) 3 28 -------------------------------------------------------------------------------- EQ/ALLIANCE COMMON STOCK -------------------------------------------------------------------------------- Unit value $ 111.02 $ 94.30 -------------------------------------------------------------------------------- Number of units outstanding (000's) 25 296 -------------------------------------------------------------------------------- EQ/ALLIANCE GLOBAL -------------------------------------------------------------------------------- Unit value $ 119.52 $ 96.06 -------------------------------------------------------------------------------- Number of units outstanding (000's) 9 109 -------------------------------------------------------------------------------- EQ/ALLIANCE GROWTH AND INCOME -------------------------------------------------------------------------------- Unit value $ 103.87 $ 111.81 -------------------------------------------------------------------------------- Number of units outstanding (000's) 14 145 -------------------------------------------------------------------------------- EQ/ALLIANCE GROWTH INVESTORS -------------------------------------------------------------------------------- Unit value $ 112.30 $ 103.52 -------------------------------------------------------------------------------- Number of units outstanding (000's) 10 101 -------------------------------------------------------------------------------- EQ/ALLIANCE HIGH YIELD -------------------------------------------------------------------------------- Unit value $ 99.34 $ 89.64 -------------------------------------------------------------------------------- Number of units outstanding (000's) 4 23 -------------------------------------------------------------------------------- EQ/ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -------------------------------------------------------------------------------- Unit value $ 100.40 $ 108.29 -------------------------------------------------------------------------------- Number of units outstanding (000's) 3 10 -------------------------------------------------------------------------------- EQ/ALLIANCE INTERNATIONAL -------------------------------------------------------------------------------- Unit value $ 126.71 $ 96.46 -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 33 -------------------------------------------------------------------------------- EQ/ALLIANCE MONEY MARKET -------------------------------------------------------------------------------- Unit value $ 101.49 $ 106.56 -------------------------------------------------------------------------------- Number of units outstanding (000's) 43 139 -------------------------------------------------------------------------------- EQ/ALLIANCE PREMIER GROWTH -------------------------------------------------------------------------------- Unit value $ 116.53 $ 94.20 -------------------------------------------------------------------------------- Number of units outstanding (000's) 21 242 -------------------------------------------------------------------------------- EQ/ALLIANCE QUALITY BOND -------------------------------------------------------------------------------- Unit value $ 99.28 $ 109.43 -------------------------------------------------------------------------------- Number of units outstanding (000's) 4 26 -------------------------------------------------------------------------------- EQ/ALLIANCE SMALL CAP GROWTH -------------------------------------------------------------------------------- Unit value $ 130.79 $ 147.23 -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 63 -------------------------------------------------------------------------------- EQ/ALLIANCE TECHNOLOGY -------------------------------------------------------------------------------- Unit value -- $ 66.29 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 92 --------------------------------------------------------------------------------
Appendix I: Condensed financial information ----- A-2 --------------------------------------------------------------------------------
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER MAY 1, 2001. (CONTINUED) -------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, -------------------------------------------------------------------------------- 1999 2000 EQ/AXP NEW DIMENSIONS -------------------------------------------------------------------------------- Unit value -- $ 82.97 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 -------------------------------------------------------------------------------- EQ/AXP STRATEGY AGGRESSIVE -------------------------------------------------------------------------------- Unit value -- $ 62.20 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 -------------------------------------------------------------------------------- EQ/BALANCED -------------------------------------------------------------------------------- Unit value $ 108.71 $ 105.98 -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 34 -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN RESEARCH -------------------------------------------------------------------------------- Unit value $ 106.94 $ 112.19 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN U.S. EQUITY -------------------------------------------------------------------------------- Unit value $ 101.79 $ 104.44 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 -------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX -------------------------------------------------------------------------------- Unit value $ 106.17 $ 94.85 -------------------------------------------------------------------------------- Number of units outstanding (000's) 9 78 -------------------------------------------------------------------------------- EQ/EVERGREEN FOUNDATION -------------------------------------------------------------------------------- Unit value $ 105.31 $ 99.29 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 -------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA -------------------------------------------------------------------------------- Unit value $ 106.73 $ 93.34 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 -------------------------------------------------------------------------------- EQ/FI MID CAP -------------------------------------------------------------------------------- Unit value -- $ 100.11 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 7 -------------------------------------------------------------------------------- EQ/FI SMALL/MID CAP VALUE -------------------------------------------------------------------------------- Unit value $ 106.49 $ 110.49 -------------------------------------------------------------------------------- Number of units outstanding (000's) 13 13 -------------------------------------------------------------------------------- EQ/JANUS LARGE CAP GROWTH -------------------------------------------------------------------------------- Unit value -- $ 84.05 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 12 -------------------------------------------------------------------------------- EQ/MERCURY BASIC VALUE EQUITY -------------------------------------------------------------------------------- Unit value $ 97.22 $ 107.68 -------------------------------------------------------------------------------- Number of units outstanding (000's) 5 31 -------------------------------------------------------------------------------- EQ/MFS EMERGING GROWTH COMPANIES -------------------------------------------------------------------------------- Unit value $ 157.69 $ 126.78 -------------------------------------------------------------------------------- Number of units outstanding (000's) 17 181 -------------------------------------------------------------------------------- EQ/MFS INVESTORS TRUST -------------------------------------------------------------------------------- Unit value $ 104.63 $ 102.92 -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 12 --------------------------------------------------------------------------------
Appendix I: Condensed financial information ----- A-3 --------------------------------------------------------------------------------
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER MAY 1, 2001. (CONTINUED) -------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, -------------------------------------------------------------------------------- 1999 2000 -------------------------------------------------------------------------------- EQ/MFS RESEARCH -------------------------------------------------------------------------------- Unit value $ 116.97 $ 109.77 -------------------------------------------------------------------------------- Number of units outstanding (000's) 3 56 -------------------------------------------------------------------------------- EQ/MORGAN STANLEY EMERGING MARKETS EQUITY -------------------------------------------------------------------------------- Unit value $ 147.71 $ 87.72 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 28 -------------------------------------------------------------------------------- EQ/PUTNAM BALANCED -------------------------------------------------------------------------------- Unit value $ 95.64 $ 103.22 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 -------------------------------------------------------------------------------- EQ/PUTNAM GROWTH & INCOME VALUE -------------------------------------------------------------------------------- Unit value $ 92.44 $ 97.78 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 -------------------------------------------------------------------------------- EQ/T. ROWE PRICE INTERNATIONAL STOCK -------------------------------------------------------------------------------- Unit value $ 123.90 $ 99.81 -------------------------------------------------------------------------------- Number of units outstanding (000's) 3 43 -------------------------------------------------------------------------------- MERCURY WORLD STRATEGY -------------------------------------------------------------------------------- Unit value $ 113.34 $ 99.41 -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 -------------------------------------------------------------------------------- T. ROWE PRICE EQUITY INCOME -------------------------------------------------------------------------------- Unit value $ 93.54 $ 104.57 -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 9 --------------------------------------------------------------------------------
Appendix I: Condensed financial information (This page intentionally left blank) APPENDIX II: MARKET VALUE ADJUSTMENT EXAMPLE ----- B-1 -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 had been invested on June 14, 2002 to a fixed maturity option with a maturity date of June 15, 2011 (i.e., nine years later) at a hypothetical rate to maturity of 7.00%, resulting in a maturity value at the maturity date of $183,846. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2006.
------------------------------------------------------------------------------------------- HYPOTHETICAL ASSUMED RATE TO MATURITY ON JUNE 15, 2006 ----------------------- 5.00% 9.00% ------------------------------------------------------------------------------------------- AS OF JUNE 15, 2006 (BEFORE WITHDRAWAL) ------------------------------------------------------------------------------------------- (1) Market adjusted amount $144,048 $ 119,487 ------------------------------------------------------------------------------------------- (2) Fixed maturity amount $131,080 $ 131,080 ------------------------------------------------------------------------------------------- (3) Market value adjustment: (1) - (2) $ 12,968 $ (11,593) ------------------------------------------------------------------------------------------- ON JUNE 15, 2006 (AFTER WITHDRAWAL) ------------------------------------------------------------------------------------------- (4) Portion of market value adjustment associated with withdrawal: (3) x [$50,000/(1)] $ 4,501 $ (4,851) ------------------------------------------------------------------------------------------- (5) Reduction in fixed maturity amount: [$50,000 - (4)] $ 45,499 $ 54,851 ------------------------------------------------------------------------------------------- (6) Fixed maturity amount: (2) - (5) $ 85,581 $ 76,229 ------------------------------------------------------------------------------------------- (7) Maturity value $120,032 $ 106,915 ------------------------------------------------------------------------------------------- (8) Market adjusted amount of (7) $ 94,048 $ 69,487 -------------------------------------------------------------------------------------------
You should note that under this example if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a positive market value adjustment is realized. Appendix II: Market value adjustment example (This page intentionally left blank) Statement of additional information -------------------------------------------------------------------------------- TABLE OF CONTENTS PAGE Required minimum distributions option 2 Revised Proposed Minimum Distribution Rules 2 Unit Values 4 Calculation of Annuity Payments 4 The Reorganization 5 Custodian and independent accountants 6 EQ/Alliance Money Market option yield information 6 Other yield information 7 Distribution of the Contracts 7 Financial Statements 7 HOW TO OBTAIN AN EQUI-VEST EXPRESS STATEMENT OF ADDITIONAL INFORMATION FOR SEPARATE ACCOUNT A Call 1-800-628-6673 or send this request form to: EQUI-VEST Express Processing Office The Equitable Life P.O. Box 2996 New York, NY 10116-2996 -------------------------------------------------------------------------------- Please send me an EQUI-VEST Express Statement of Additional Information dated May 1, 2001. (Combination variable and fixed deferred annuity) -------------------------------------------------------------------------------- Name -------------------------------------------------------------------------------- Address -------------------------------------------------------------------------------- City State Zip 888-1298 (5/01) SUPPLEMENT, DATED MAY 1, 2001, TO THE EQUI-VEST EXPRESS PROSPECTUS AND EQUI-VEST PROSPECTUS COMBINATION VARIABLE AND FIXED DEFERRED ANNUITY CERTIFICATES ISSUED BY THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES -------------------------------------------------------------------------------- X00050 This supplement dated May 1, 2001, updates certain information in the following prospectuses: EQUI-VEST Express prospectus dated May 1, 2000, as previously supplemented on June 23, 2000; September 1, 2000; January 5, 2001; and February 9, 2001. EQUI-VEST prospectus dated May 1, 2000, as previously supplemented on June 23, 2000; September 1, 2000; January 5, 2001; and February 9, 2001 . You should keep the supplements and the prospectus for future reference. We have filed with the Securities and Exchange Commission (SEC) our statement of additional information (SAI) dated May 1, 2001. If you do not presently have a copy of the prospectus and prior supplements, you may obtain additional copies, as well as a copy of the SAI, from us, free of charge, by writing to Equitable Life, P.O. Box 2996, New York, NY 10116-2996, or calling (800) 628-6673. If you only need a copy of the SAI, you may mail in the SAI request form located at the end of this supplement. The SAI has been incorporated by reference into this supplement. In this Supplement, we provide information on (1) a new investment option; (2) the combination of certain investment options; (3) how to reach us; (4) EQ Advisors Trust annual expenses; (5) certain portfolio/correlating investment option name changes and new advisers; (6) transaction requests that are related to disruptive transfer activities; (7) buying a contract to fund a retirement arrangement; (8) tax information; (9) the successor owner and annuitant feature; (10) the beneficiary continuation option; (11) payment of death benefit; (12) condensed financial information; (13) Equitable Life; (14) investment performance; and (15) withdrawal charge waivers for series 800 contracts. ----- 2 -------------------------------------------------------------------------------- (1) NEW INVESTMENT OPTION The following new investment option is available under your Certificate effective on or about May 18, 2001. EQ/BERNSTEIN DIVERSIFIED VALUE The new investment option invests in a corresponding Portfolio of EQ Advisors Trust. The objective and Adviser for the Portfolio is shown below:
--------------------------------------------------------------------------------------------------- PORTFOLIO NAME OBJECTIVE ADVISER --------------------------------------------------------------------------------------------------- EQ/Bernstein Diversified Value Capital appreciation Alliance Capital Management, L.P., through its Bernstein Investment Research and Management Unit. ---------------------------------------------------------------------------------------------------
See "EQ Advisors Trust annual expenses" below, regarding the management fees and expenses for the new portfolio. (2) COMBINATION OF CERTAIN INVESTMENT OPTIONS On or about May 18, 2001, the following combinations will occur: (1) interests in the EQ/Balanced investment option will replace interests in the Alliance Conservative Investors, EQ/Evergreen Foundation, Mercury World Strategy and EQ/Putnam Balanced investment options, and these options will no longer be available; and (2) interests in the EQ/Bernstein Diversified Value option will replace interests in the T. Rowe Price Equity Income option and this option will no longer be available. We will move the assets in the replaced options into the applicable surviving option. After the combinations are effective, allocation elections to the replaced elections will be considered as allocation elections to the applicable surviving option. Since the Replaced options will continue in existence only until approximately May 18, 2001, references to the Replaced options have been omitted from the fee table, expense examples and investment performance. (3) HOW TO REACH US You may communicate with our processing office for the purposes described in your Prospectus. Certain methods of contacting us, such as by telephone or electronically may be unavailable or delayed (for example our facsimile service may not be available at all times and/ or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. (4) EQ ADVISORS TRUST ANNUAL EXPENSES The following table sets forth the annual expenses for each portfolio as of December 31, 2000. All portfolios may not be available in all annuity products. Please note that the names of certain portfolios have been changed (a correlating change in the name of the corresponding investment fund also applies). For more information on these name changes, see "Portfolio/Correlating investment option name changes and new portfolio advisers," later in this supplement. ----- 3 --------------------------------------------------------------------------------
EQ ADVISORS TRUST ANNUAL EXPENSES* (AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS IN EACH PORTFOLIO) -------------------------------------------------------------------------------------------------------------------- NET TOTAL ANNUAL OTHER EXPENSES EXPENSES MANAGEMENT (AFTER EXPENSE (AFTER EXPENSE FEES (1) 12B-1 FEES(2) LIMITATION) (3) LIMITATION) (4) -------------------------------------------------------------------------------------------------------------------- EQ/Aggressive Stock 0.60% 0.25% 0.07% 0.92% EQ/Alliance Common Stock 0.46% 0.25% 0.05% 0.76% EQ/Alliance Global 0.72% 0.25% 0.09% 1.06% EQ/Alliance Growth and Income 0.58% 0.25% 0.05% 0.88% EQ/Alliance Growth Investors 0.56% 0.25% 0.06% 0.87% EQ/Alliance High Yield 0.60% 0.25% 0.07% 0.92% EQ/Alliance Intermediate Government Securities 0.50% 0.25% 0.08% 0.83% EQ/Alliance International 0.85% 0.25% 0.29% 1.39% EQ/Alliance Money Market 0.34% 0.25% 0.06% 0.65% EQ/Alliance Premier Growth 0.89% 0.25% 0.01% 1.15% EQ/Alliance Quality Bond 0.53% 0.25% 0.06% 0.84% EQ/Alliance Small Cap Growth 0.75% 0.25% 0.06% 1.06% EQ/Alliance Technology 0.90% 0.25% 0.00% 1.15% EQ/AXP New Dimensions 0.65% 0.25% 0.05% 0.95% EQ/AXP Strategy Aggressive 0.70% 0.25% 0.05% 1.00% EQ/Balanced 0.57% 0.25% 0.08% 0.90% EQ/Bernstein Diversified Value 0.65% 0.25% 0.05% 0.95% EQ/Capital Guardian Research 0.65% 0.25% 0.05% 0.95% EQ/Capital Guardian U.S. Equity 0.65% 0.25% 0.05% 0.95% EQ/Equity 500 Index 0.25% 0.25% 0.06% 0.56% EQ/Evergreen Omega 0.65% 0.25% 0.05% 0.95% EQ/FI Mid Cap 0.70% 0.25% 0.05% 1.00% EQ/FI Small/Mid Cap Value 0.75% 0.25% 0.10% 1.10% EQ/Janus Large Cap Growth 0.90% 0.25% 0.00% 1.15% EQ/Mercury Basic Value Equity 0.60% 0.25% 0.10% 0.95% EQ/MFS Emerging Growth Companies 0.62% 0.25% 0.10% 0.97% EQ/MFS Investors Trust 0.60% 0.25% 0.10% 0.95% EQ/MFS Research 0.65% 0.25% 0.05% 0.95% EQ/Morgan Stanley Emerging Markets Equity 1.15% 0.25% 0.40% 1.80% EQ/Putnam Growth & Income Value 0.60% 0.25% 0.10% 0.95% EQ/T. Rowe Price International Stock 0.85% 0.25% 0.15% 1.25% --------------------------------------------------------------------------------------------------------------------
* See "Combination of certain investment options" above. (1) The management fees shown reflect revised management fees, effective May 1, 2000, which were approved by shareholders. The management fee for each portfolio cannot be increased without a vote of each portfolio's shareholders. (2) Portfolio shares are all subject to fees imposed under the distribution plan (the "Rule 12b-1 Plan ") adopted by EQ Advisors Trust pursuant to Rule 12b-1 under the Investment Company Act of 1940. The 12b-1 fee will not be increased for the life of the contracts. ----- 4 -------------------------------------------------------------------------------- (3) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. Since initial seed capital was invested for the EQ/Alliance Technology portfolio on May 1, 2000, "Other Expenses" shown have been annualized. Initial seed capital was invested for the EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive Portfolios on September 1, 2000, thus "Other Expenses" shown are estimated. See footnote (4) for any expense limitation agreement information. (4) Equitable Life, EQ Advisors Trust's manager, has entered into an expense limitation agreement with respect to certain Portfolios. Under this agreement Equitable Life has agreed to waive or limit its fees and assume other expenses of each of these Portfolios, if necessary, in an amount that limits each Portfolio's Total Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, and extraordinary expenses) to not more than the amounts specified above as "Net Total Annual Expenses." The amounts shown for the EQ/Morgan Stanley Emerging Markets Portfolio, reflect a .05% decrease in the portfolio's expense waiver. This decrease in the expense waivers was effective on May 1, 2001. Each Portfolio may at a later date make a reimbursement to Equitable Life for any of the management fees waived or limited and other expenses assumed and paid by Equitable Life pursuant to the expense limitation agreement provided that, among other things, such Portfolio has reached a sufficient size to permit such reimbursement to be made and provided that the Portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. For more information see the prospectus for EQ Advisors Trust. The following chart indicates other expenses before any fee waivers and/or expense reimbursements that would have applied to each Portfolio. Portfolios that are not listed below do not have an expense limitation arrangement in effect.
--------------------------------------------------- --------------------------------------------------- OTHER EXPENSES OTHER EXPENSES (BEFORE ANY FEE (BEFORE ANY FEE WAIVERS AND/OR WAIVERS AND/OR EXPENSE EXPENSE PORTFOLIO NAME REIMBURSEMENTS) PORTFOLIO NAME REIMBURSEMENTS) --------------------------------------------------- --------------------------------------------------- EQ/Alliance Premier Growth 0.05% EQ/FI Small/Mid Cap Value 0.19% EQ/Alliance Technology 0.06% EQ/Janus Large Cap Growth 0.22% EQ/AXP New Dimensions 1.23% EQ/Mercury Basic Value Equity 0.10% EQ/AXP Strategy Aggressive 0.57% EQ/MFS Investors Trust 0.13% EQ/Balanced 0.08% EQ/MFS Research 0.07% EQ/Bernstein Diversified Value 0.15% EQ/Morgan Stanley Emerging EQ/Capital Guardian Research 0.16% Markets Equity 0.52% EQ/Capital Guardian U.S. Equity 0.11% EQ/Putnam Growth & Income Value 0.12% EQ/Evergreen Omega 0.83% EQ/T. Rowe Price International Stock 0.24% EQ/FI Mid Cap 0.27% --------------------------------------------------- ---------------------------------------------------
----- 5 -------------------------------------------------------------------------------- EQUI-VEST EXAMPLES The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. We assume a $1,000 contribution is invested in one of the variable investment options listed and a 5% annual return is earned on the assets in that option.(1) We also assume that the optional ratcheted death benefit is not elected and there is no waiver of the withdrawal charge. The annual administrative charge is based on the charges that apply to a mix of estimated contract sizes, resulting in an estimated administrative charge for the purpose of these examples of $0.489 per $1,000. Total Separate Account A expenses used to compute the example below are the maximum expenses rather than the lower current expenses. See "Charges and expenses" in the prospectus. For a complete description of portfolio charges and expenses, please see the attached prospectus for EQ Advisors Trust. The examples assume the continuation of Total Annual Expenses (after expense limitation) shown for each Portfolio of EQ Advisors Trust in the table, above, for the entire one, three, five and ten year periods included in the examples. The administrative charge used in the examples is the maximum charge rather than the lower current charge. These examples should not be considered a representation of past or future expenses for each option. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the examples is not an estimate or guarantee of future investment performance.
---------------------------------------------------------------------------------------------------------------------------- IF YOU SURRENDER YOUR CONTRACT AT | IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, | THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: | THE EXPENSES WOULD BE: -----------------------------------------|------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS | 1 YEAR 3 YEARS 5 YEARS 10 YEARS --------------------------------------------------------------------------------|------------------------------------------- EQ/Aggressive Stock $75.51 $ 97.11 $119.50 $157.34 | $13.31 $41.40 $ 71.60 $157.34 EQ/Alliance Common Stock $75.51 $ 97.11 $119.50 $157.34 | $13.31 $41.40 $ 71.60 $157.34 EQ/Alliance Global $79.03 $107.98 $138.13 $198.22 | $17.06 $52.88 $ 91.10 $198.22 EQ/Alliance Growth and Income $77.27 $102.56 $128.85 $177.96 | $15.18 $47.15 $ 81.39 $177.96 EQ/Alliance Growth Investors $77.17 $102.26 $128.33 $176.83 | $15.08 $46.83 $ 80.84 $176.83 EQ/Alliance High Yield $77.66 $103.77 $130.92 $182.50 | $15.60 $48.43 $ 83.55 $182.50 EQ/Alliance Intermediate Government | Securities $76.78 $101.05 $126.26 $172.27 | $14.66 $45.56 $ 78.68 $172.27 EQ/Alliance International $82.27 $117.88 $154.97 $234.43 | $20.50 $63.32 $108.71 $234.43 EQ/Alliance Money Market $75.02 $ 95.60 $116.89 $151.54 | $12.79 $39.80 $ 68.87 $151.54 EQ/Alliance Premier Growth $81.87 $116.68 $152.94 $230.10 | $20.08 $62.06 $106.59 $230.10 EQ/Alliance Quality Bond $76.88 $101.35 $126.78 $173.41 | $14.77 $45.88 $ 79.22 $173.41 EQ/Alliance Small Cap Growth $79.03 $107.98 $138.13 $198.22 | $17.06 $52.88 $ 91.10 $198.22 EQ/Alliance Technology $81.87 $116.68 $152.94 $230.10 | $20.08 $62.06 $106.59 $230.10 EQ/AXP New Dimensions $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/AXP Strategy Aggressive $80.41 $112.19 $145.31 $213.73 | $18.52 $57.32 $ 98.60 $213.73 EQ/Balanced $75.51 $ 97.11 $119.50 $157.34 | $13.31 $41.40 $ 71.60 $157.34 EQ/Bernstein Diversified Value $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/Capital Guardian Research $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/Capital Guardian U.S. Equity $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/Equity 500 Index $74.14 $ 92.86 $112.17 $141.04 | $11.85 $36.92 $ 63.94 $141.04 EQ/Evergreen Omega $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 ----------------------------------------------------------------------------------------------------------------------------
----- 6 --------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------- IF YOU SURRENDER YOUR CONTRACT AT | IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, | THE END OF EACH PERIOD SHOWN, THE EXPENSES WOULD BE: | THE EXPENSES WOULD BE: -----------------------------------------|------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS | 1 YEAR 3 YEARS 5 YEARS 10 YEARS -------------------------------------------------------------------------------------|------------------------------------------- EQ/FI Mid Cap $80.41 $112.19 $145.31 $213.73 | $18.52 $57.32 $ 98.60 $213.73 EQ/FI Small/Mid Cap Value $81.39 $115.19 $150.40 $224.67 | $19.56 $60.48 $103.93 $224.67 EQ/Janus Large Cap Growth $81.87 $116.68 $152.94 $230.10 | $20.08 $62.06 $106.59 $230.10 EQ/Mercury Basic Value Equity $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/MFS Emerging Growth Companies $80.11 $111.29 $143.77 $210.42 | $18.20 $56.37 $ 97.00 $210.42 EQ/MFS Investors Trust $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/MFS Research $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/Morgan Stanley Emerging Markets Equity $88.24 $135.99 $185.47 $298.29 | $26.85 $82.43 $140.62 $298.29 EQ/Putnam Growth & Income Value $79.92 $110.69 $142.75 $208.21 | $18.00 $55.73 $ 95.93 $208.21 EQ/T. Rowe Price International Stock $82.85 $119.67 $158.00 $240.89 | $21.12 $65.21 $111.89 $240.89 ---------------------------------------------------------------------------------------------------------------------------------
(1) The amount accumulated from the $1,000 contribution could not be paid in the form of an annuity payout option at the end of any of the periods shown in the examples. This is because if the amount applied to purchase an annuity payout option is less than $2,000, or the initial payment is less than $20, we may pay the amount to you in a single sum instead of as payments under an annuity payout option. See "Accessing your money" in the prospectus. IF YOU ELECT THE OPTIONAL RATCHETED DEATH BENEFIT: The above examples do not reflect a charge for the optional ratcheted death benefit. If you elect the optional ratcheted death benefit we will also deduct an annual charge equal to 0.15% of your account value on each contract date anniversary up to age 90. Therefore, the expenses shown in the above examples would, in each case, be increased by an amount not in excess of $1.57 in the first year, $1.74 in the third year, $1.91 in the fifth year and $2.44 in the tenth year. IF YOU ELECT A VARIABLE ANNUITY PAYOUT OPTION: Assuming an annuity payout option could be issued, (see Note (1) above), and you elect a variable annuity payout option, the expenses shown in the above example for "if you do not surrender your contract" would, in each case, be increased by $6.08 based on the average amount applied to annuity payout options in 2000. See "Annuity administrative fee" under "Charges and expenses" in the prospectus. ----- 7 -------------------------------------------------------------------------------- EQUI-VEST EXPRESS EXAMPLES The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. We assume a $1,000 contribution is invested in one of the variable investment options listed and a 5% annual return is earned on the assets in that option.(1) The annual administrative charge is based on the charges that apply to a mix of estimated contract sizes, resulting in an estimated administrative charge for the purpose of these examples of $0.489 per $1,000. We assume there is no waiver of the withdrawal charge. Total separate account A annual expenses used to compute the example below are the maximum expenses rather than the lower current expenses. See "Charges and expenses" in the prospectus. For a complete description of portfolio charges and expenses, please see the attached prospectus for EQ Advisors Trust. The examples assume the continuation of Total Annual Expenses (after expense limitation) shown for each Portfolio of EQ Advisors Trust in the table, above, for the entire one, three, five and ten year periods included the examples. These examples should not be considered a representation of past or future expenses for each option. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the examples is not an estimate or guarantee of future investment performance.
------------------------------------------------------------------------------------------------------------------------------------ IF YOU SURRENDER YOUR CONTRACT | IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD | AT THE END OF EACH PERIOD SHOWN, SHOWN, THE EXPENSES WOULD BE: | THE EXPENSES WOULD BE: ----------------------------------------------------------------------------------- 1 YEAR 3 YEARS 5 YEARS 10 YEARS | 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------------------------------------------------------|------------------------------------------- EQ/Aggressive Stock $86.18 $152.36 $221.06 $339.38 | $31.16 $ 95.25 $161.77 $339.38 EQ/Alliance Common Stock $84.59 $147.66 $213.34 $323.56 | $29.48 $ 90.27 $153.57 $323.56 EQ/Alliance Global $87.57 $156.46 $227.76 $353.00 | $32.63 $ 99.59 $168.91 $353.00 EQ/Alliance Growth and Income $85.78 $151.18 $219.13 $335.45 | $30.74 $ 94.00 $159.73 $335.45 EQ/Alliance Growth Investors $85.68 $150.89 $218.65 $334.46 | $30.63 $ 93.69 $159.22 $334.46 EQ/Alliance High Yield $86.18 $152.36 $221.06 $339.38 | $31.16 $ 95.25 $161.77 $339.38 EQ/Alliance Intermediate Government Securities $85.28 $149.72 $216.73 $330.51 | $30.21 $ 92.45 $157.17 $330.51 EQ/Alliance International $90.84 $166.07 $243.41 $384.36 | $36.09 $109.79 $185.55 $384.36 EQ/Alliance Money Market $83.50 $144.42 $208.01 $312.54 | $28.32 $ 86.83 $147.90 $312.54 EQ/Alliance Premier Growth $88.46 $159.09 $232.05 $361.66 | $33.57 $102.38 $173.47 $361.66 EQ/Alliance Quality Bond $85.38 $150.01 $217.21 $331.50 | $30.32 $ 92.76 $157.68 $331.50 EQ/Alliance Small Cap Growth $87.57 $156.46 $227.76 $353.00 | $32.63 $ 99.59 $168.91 $353.00 EQ/Alliance Technology $88.46 $159.09 $232.05 $361.66 | $33.57 $102.38 $173.47 $361.66 EQ/AXP New Dimensions $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/AXP Strategy Aggressive $86.97 $154.70 $224.89 $347.19 | $32.00 $ 97.73 $165.86 $347.19 EQ/Balanced $85.98 $151.77 $220.10 $337.41 | $30.95 $ 94.63 $160.75 $337.41 EQ/Bernstein Diversified Value $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/Calvert Socially Responsible $87.47 $156.16 $227.28 $352.04 | $32.52 $ 99.28 $168.40 $352.04 EQ/Capital Guardian Research $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/Capital Guardian U.S. Equity $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/Equity 500 Index $82.60 $141.76 $203.63 $303.42 | $27.38 $ 84.01 $143.24 $303.42 EQ/Evergreen Omega $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/FI Mid Cap $86.97 $154.70 $224.89 $347.19 | $32.00 $ 97.73 $165.86 $347.19 EQ/FI Small/Mid Cap Value $87.96 $157.63 $229.67 $356.86 | $33.05 $100.83 $170.94 $356.86 ------------------------------------------------------------------------------------------------------------------------------------
----- 8 --------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------- IF YOU SURRENDER YOUR CONTRACT | IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD | AT THE END OF EACH PERIOD SHOWN, SHOWN, THE EXPENSES WOULD BE: | THE EXPENSES WOULD BE: ------------------------------------------------------------------------------ 1 YEAR 3 YEARS 5 YEARS 10 YEARS | 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------------------------------------------------------|--------------------------------------- EQ/Janus Large Cap Growth $88.46 $159.09 $232.05 $361.66 | $33.57 $102.38 $173.47 $361.66 EQ/Mercury Basic Value Equity $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/MFS Emerging Growth Companies $86.67 $153.82 $223.46 $344.26 | $31.68 $ 96.80 $164.33 $344.26 EQ/MFS Investors Trust $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/MFS Research $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/Morgan Stanley Emerging Markets Equity $94.91 $177.92 $262.53 $421.86 | $40.39 $122.35 $205.89 $421.86 EQ/Putnam Growth & Income Value $86.47 $153.24 $222.50 $342.31 | $31.47 $ 96.18 $163.31 $342.31 EQ/T. Rowe Price International Stock $89.45 $162.00 $236.80 $371.19 | $34.62 $105.47 $178.52 $371.19 --------------------------------------------------------------------------------------------------------------------------
(1) The amount accumulated from the $1,000 contribution could not be paid in the form of an annuity payout option at the end of any of the periods shown in the examples. This is because if the amount applied to purchase an annuity payout option is less than $2,000, or the initial payment is less than $20, we may pay the amount to you in a single sum instead of as payments under an annuity payout option. See "Accessing your money" in the prospectus. IF YOU ELECT A VARIABLE ANNUITY PAYOUT OPTION: Assuming an annuity payout option could be issued, (see Note (1) above), and you elect a variable annuity payout option, the expenses shown in the above example for "if you do not surrender your contract" would, in each case, be increased by $6.08 based on the average amount applied to annuity payout options in 2000. See "Annuity administrative fee" in "Charges and expenses" in the prospectus. (5) PORTFOLIO/CORRELATING INVESTMENT OPTION NAME CHANGES AND NEW PORTFOLIO ADVISERS Please note the following new information:
----------------------------------------------------------------- FORMER NAME NEW NAME EFFECTIVE DATE ----------------------------------------------------------------- EQ/Evergreen EQ/Evergreen Omega May 1, 2001 ----------------------------------------------------------------- MFS Growth with Income EQ/MFS Investors Trust May 18, 2001 -----------------------------------------------------------------
The investment objectives and advisers for these portfolios remain the same. Also, effective February 1, 2001, two additional advisers were added to the EQ/Aggressive Stock portfolio: Marsico Capital Management, LLC and Provident Investment Counsel, Inc. Alliance Capital Management, L.P. and MFS Investment Management continue to serve as advisers, and the investment objective for the portfolio remains the same. Also, effective on May 18, 2001, all of the investment options and correlating portfolios will include "EQ/." (6) DISRUPTIVE TRANSFER ACTIVITY The following reflects Equitable's current policy with regard to market timing-related transaction requests. You should note that the EQUI-VEST contracts are not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy, making programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. These kinds of strategies and transfer activities are disruptive to the underlying portfolios in which the variable investment options invest. If we determine that your transfer patterns among the ----- 9 -------------------------------------------------------------------------------- variable investment options are disruptive to the underlying portfolios, we may, among other things, restrict the availability of personal telephone requests, facsimile transmissions, automated telephone services, Internet services or any electronic transfer services. We may also refuse to act on transfer instructions of an agent acting under a power of attorney who is acting on behalf of one or more owners. We currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. In order to prevent disruptive activity, we monitor the frequency of transfers, including the size of transfers in relation to portfolio assets, in each underlying portfolio, and we take appropriate action, which may include the actions described above to restrict availability of voice, fax and automated transaction services, when we consider the activity of owners to be disruptive. We currently provide a letter to owners who have engaged in such activity of our intention to restrict such services. However, we may not continue to provide such letters. We may also, in our sole discretion and without further notice, change what we consider disruptive transfer activity, as well as change our procedures to restrict this activity. (7) BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT If your contract is an Individual Retirement Annuity (IRA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. You may therefore want to consider the relative features, benefits and costs of other investments that may be available for use in connection with your retirement plan or arrangement. For more information, see "Tax information," in your Prospectus. (8) TAX INFORMATION NONQUALIFIED ANNUITIES -- OTHER INFORMATION The IRS has stated that you will be considered the owner of the assets in the separate account if you possess incidents of ownership in those assets, such as the ability to exercise investment control over the assets. The Treasury Department has the authority to issue guidelines prescribing the circumstances in which your ability to direct your investment to particular portfolios within a separate account may cause you, rather than the insurance company, to be treated as the owner of the portfolio shares attributable to your nonqualified annuity contract. If you were to be considered the owner of the underlying shares, income and gains attributable to such portfolio shares would be currently included in your gross income for federal income tax purposes. Incidents of investment control could include among other items, the number of investment options available under a contract and/or the frequency of transfers available under the contract. In connection with the issuance of regulations concerning investment diversification in 1986, the Treasury Department announced that the diversification regulations did not provide guidance on investor control but that guidance would be issued in the form of regulations or rulings. As of the date of this supplement, no such guidance has been issued. It is not known whether such guidelines, if in fact issued, would have retroactive adverse effect on existing contracts. We can not provide assurance as to the terms or scope of any future guidance nor any assurance that such guidance would not be imposed on a retroactive basis to contracts issued under this supplement. We reserve the right to modify the contract, as necessary to attempt to prevent you from being considered the owner of the assets of the separate account for tax purposes. ----- 10 -------------------------------------------------------------------------------- IRAS REQUIRED MINIMUM DISTRIBUTIONS FOR QUALIFIED CONTRACTS The IRS and Treasury have recently proposed revisions to the minimum distribution rules. We expect these rules to be finalized no earlier than January 1, 2002. The proposed revisions permit IRA owners and beneficiaries to apply the proposed revisions for calendar year 2001. See the Statement of Additional Information for a brief description of the proposed revisions. ROTH IRAS CONVERSION CONTRIBUTIONS TO ROTH IRAS In a conversion rollover transaction, you withdraw (or are considered to have withdrawn) all or a portion of funds from a traditional IRA you maintain and convert it to a Roth IRA within 60 days after you receive (or are considered to have received) the traditional IRA proceeds. Unlike a rollover from a traditional IRA to another traditional IRA, the conversion rollover transaction is not tax-free. Instead, the distribution from the traditional IRA is generally fully taxable. For this reason, we are required to withhold 10% federal income tax from the amount converted unless you elect out of such withholding. If you ever made nondeductible regular contributions to any traditional IRA -- whether or not it is the traditional IRA you are converting -- a pro rata portion of the distribution is tax free. There is, however, no early distribution penalty tax on the traditional IRA withdrawal that you are converting to a Roth IRA, even if you are under age 59 1/2. You cannot make conversion contributions to a Roth IRA for any taxable year in which your modified adjusted gross income exceeds $100,000. For this purpose your modified adjusted gross income is computed with the gross income stemming from the traditional IRA conversion. You also cannot make conversion contributions to a Roth IRA for any taxable year in which your federal income tax filing status is "married filing separately." You cannot make conversion contributions to a Roth IRA to the extent that the funds in your traditional IRA are subject to the annual required minimum distribution rule applicable to traditional IRAs beginning at age 70 1/2. You cannot convert and reconvert an amount during the same taxable year, or if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed Roth IRA conversion. RECHARACTERIZATIONS You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. HOW TO RECHARACTERIZE To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a deemed trustee-to-trustee transfer. If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. It will be treated as having been made to the second IRA on the same ----- 11 -------------------------------------------------------------------------------- date that it was actually made to the first IRA. You must report the recharacterization, and must treat the contribution as having been made to the second IRA, instead of the first IRA, on your tax return for the year during which the contribution was made. The contribution will not be treated as having been made to the second IRA unless the transfer includes any net income allocable to the contribution. You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be transferred. If there was a loss, the net income you must transfer may be a negative amount. No deduction is allowed for the contribution to the first IRA and any net income transferred with the recharacterized contribution is treated as earned in the second IRA. The contribution will not be treated as having been made to the second IRA to the extent any deduction was allowed with respect to the contribution to the first IRA. For recharacterization purposes, a distribution from a traditional IRA that is received in one tax year and rolled over into a Roth IRA in the next year, but still within 60 days of the distribution from the traditional IRA, is treated as a contribution to the Roth IRA in the year of the distribution from the traditional IRA. Roth IRA conversion contributions from a SEP-IRA or SIMPLE IRA can be recharacterized to a SEP-IRA or SIMPLE IRA (including the original SEP-IRA or SIMPLE IRA). To recharacterize a contribution, you must use our forms. The recharacterization of a contribution is not treated as a rollover for purposes of the 12-month limitation period described under "Rollovers and direct transfers" in the prospectus. This rule applies even if the contribution would have been treated as a rollover contribution by the second IRA if it had been made directly to the second IRA rather than as a result of a recharacterization of a contribution to the first IRA. NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described under "Qualified distributions from Roth IRAs" in the prospectus. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions. (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amount distributed, distributions and contributions are aggregated or grouped together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- with any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. ----- 12 -------------------------------------------------------------------------------- (3) All conversion contributions made during the year are added together. For purposes of the ordering rules, in the case of any conversion in which the conversion distribution is made in 2001 and the conversion contribution is made in 2002, the conversion contribution is treated as contributed prior to other conversion contributions made in 2002. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping (aggregating) both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. WITHHOLDING FROM ROTH IRAS You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are generally required to withhold on conversion rollovers of traditional IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. (9) CLARIFICATION OF SUCCESSOR OWNER ANNUITANT FEATURE SUCCESSOR OWNER AND ANNUITANT For all contracts, your spouse can elect upon your death to continue the contract as the owner/annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner and annuitant feature, we will increase the account value to equal your minimum death benefit (or ratcheted death benefit, if applicable) if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. In determining whether the ratcheted death benefit, if elected, will continue to grow, and to determine if contributions are permitted we will use your surviving spouse's age as of the date the successor owner and annuitant feature is effected. Also, for all types of IRA contracts, a beneficiary may be able to have limited ownership as discussed under "Beneficiary continuation option" below. ----- 13 -------------------------------------------------------------------------------- (10) CLARIFICATION OF BENEFICIARY CONTINUATION OPTION BENEFICIARY CONTINUATION OPTION Upon your death under a Traditional IRA, Roth IRA or QP IRA contract, your beneficiary may generally elect to keep the contract in your name and receive distributions under the contract instead of receiving the death benefit in a single sum. In order to elect this option, the beneficiary must be an individual. Certain trusts with only individual beneficiaries will be treated as individuals. We require this election to be made 60 days following the date we receive proof of your death and before any other inconsistent election is made. As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the minimum (or ratcheted) death benefit if such death benefit is greater than such account value. Under the beneficiary continuation option: o The contract continues in your name for the benefit of your beneficiary. o The beneficiary may make transfers among the investment options, but no additional contributions will be permitted. o The minimum (or ratcheted) death benefit provisions will no longer be in effect. o The beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. Any partial withdrawal must be at least $300. o Upon the death of the beneficiary, any remaining death benefit will be paid in a lump sum to the person named by the beneficiary, when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. (11) CLARIFICATION OF WHEN WE VALUE THE DEATH BENEFIT AND OTHER MATTERS REGARDING THE CHANGE OF THE OWNER AFTER THE ORIGINAL OWNER'S DEATH FOR NQ CONTRACTS (A) EQUI-VEST ONLY: DEATH BENEFIT Your contract provides a death benefit. If you do not elect the ratcheted death benefit described below, the death benefit is equal to the greater of (i) your account value as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment or (ii) the "minimum death benefit". The minimum death benefit is equal to your total contributions, less withdrawals, withdrawal charges and any taxes that apply. If you elect the ratcheted death benefit, the death benefit is equal to your account value on the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment, or the ratcheted death benefit on the date of the annuitant's death, less any subsequent withdrawals, withdrawal charges and any taxes that apply, whichever provides the highest amount. You should note that in certain circumstances, where you have made withdrawals from your contract, the minimum death benefit will provide a higher benefit than the ratcheted death benefit. ----- 14 -------------------------------------------------------------------------------- (B) WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions the owner changes after the original owner's death. When you are not the annuitant under an NQ contract and you die before annuity payments begin, the beneficiary named to receive the death benefit upon the annuitant's death will automatically become the successor owner. If you do not want this beneficiary to be the successor owner, you should name a specific successor owner. You may name a successor owner at any time by sending satisfactory notice to our processing office. Unless the surviving spouse of the owner who has died is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o The cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death. o The successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the new owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death. o If the surviving spouse is the successor owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. (12) CONDENSED FINANCIAL INFORMATION The following table sets forth the unit values and number of units outstanding at the year end for each variable investment option, except those options offered for the first time after May 1, 2001. The table shows unit values based on the highest charges that would apply to any contract or investment option to which this supplement relates, including the highest charges that would apply to the underlying portfolios. Therefore, if your contract has lower charges than those assumed, your unit values will be higher than those shown. The table also shows the total number of units outstanding for all contracts to which this supplement relates. Please refer to your annual statement for the unit values applicable to your contract. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER MAY 1, 2001
--------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, --------------------------------- 1999 2000 --------------------------------------------------------------------------- ALLIANCE CONSERVATIVE INVESTORS --------------------------------------------------------------------------- Unit value $111.53 $113.77 --------------------------------------------------------------------------- Number of units outstanding (000's) 6 68 --------------------------------------------------------------------------- EQ/AGGRESSIVE STOCK --------------------------------------------------------------------------- Unit value $105.70 $ 90.50 --------------------------------------------------------------------------- Number of units outstanding (000's) 17 71 --------------------------------------------------------------------------- EQ/ALLIANCE COMMON STOCK --------------------------------------------------------------------------- Unit value $126.92 $107.54 --------------------------------------------------------------------------- Number of units outstanding (000's) 105 702 --------------------------------------------------------------------------- EQ/ALLIANCE GLOBAL --------------------------------------------------------------------------- Unit value $134.29 $107.66 --------------------------------------------------------------------------- Number of units outstanding (000's) 20 181 ---------------------------------------------------------------------------
----- 15 -------------------------------------------------------------------------------- UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER MAY 1, 2001 (CONTINUED)
------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, --------------------------------- 1999 2000 ------------------------------------------------------------------------------- EQ/ALLIANCE GROWTH AND INCOME ------------------------------------------------------------------------------- Unit value $120.14 $129.01 ------------------------------------------------------------------------------- Number of units outstanding (000's) 37 262 ------------------------------------------------------------------------------- EQ/ALLIANCE GROWTH INVESTORS ------------------------------------------------------------------------------- Unit value $127.17 $116.93 ------------------------------------------------------------------------------- Number of units outstanding (000's) 21 222 ------------------------------------------------------------------------------- EQ/ALLIANCE HIGH YIELD ------------------------------------------------------------------------------- Unit value $ 84.97 $ 78.49 ------------------------------------------------------------------------------- Number of units outstanding (000's) 5 28 ------------------------------------------------------------------------------- EQ/ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES ------------------------------------------------------------------------------- Unit value $101.97 $109.71 ------------------------------------------------------------------------------- Number of units outstanding (000's) 1 16 ------------------------------------------------------------------------------- EQ/ALLIANCE INTERNATIONAL ------------------------------------------------------------------------------- Unit value $126.30 $ 95.90 ------------------------------------------------------------------------------- Number of units outstanding (000's) 3 36 ------------------------------------------------------------------------------- EQ/ALLIANCE MONEY MARKET ------------------------------------------------------------------------------- Unit value $105.21 $110.19 ------------------------------------------------------------------------------- Number of units outstanding (000's) 17 57 ------------------------------------------------------------------------------- EQ/ALLIANCE PREMIER GROWTH ------------------------------------------------------------------------------- Unit value $116.42 $ 93.88 ------------------------------------------------------------------------------- Number of units outstanding (000's) 36 350 ------------------------------------------------------------------------------- EQ/ALLIANCE QUALITY BOND ------------------------------------------------------------------------------- Unit value $100.07 $110.03 ------------------------------------------------------------------------------- Number of units outstanding (000's) 4 27 ------------------------------------------------------------------------------- EQ/ALLIANCE SMALL CAP GROWTH ------------------------------------------------------------------------------- Unit value $109.62 $123.09 ------------------------------------------------------------------------------- Number of units outstanding (000's) 2 98 ------------------------------------------------------------------------------- EQ/ALLIANCE TECHNOLOGY ------------------------------------------------------------------------------- Unit value -- $ 66.17 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 128 ------------------------------------------------------------------------------- EQ/AXP NEW DIMENSIONS ------------------------------------------------------------------------------- Unit value -- $ 82.91 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 ------------------------------------------------------------------------------- EQ/AXP STRATEGY AGGRESSIVE ------------------------------------------------------------------------------- Unit value -- $ 62.15 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 -------------------------------------------------------------------------------
----- 16 -------------------------------------------------------------------------------- UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER MAY 1, 2001 (CONTINUED)
------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, --------------------------------- 1999 2000 ------------------------------------------------------------------------------- EQ/BALANCED ------------------------------------------------------------------------------- Unit value $118.36 $115.59 ------------------------------------------------------------------------------- Number of units outstanding (000's) 11 101 ------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN RESEARCH ------------------------------------------------------------------------------- Unit value $106.84 $111.80 ------------------------------------------------------------------------------- Number of units outstanding (000's) 1 9 ------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN U.S. EQUITY ------------------------------------------------------------------------------- Unit value $101.69 $104.08 ------------------------------------------------------------------------------- Number of units outstanding (000's) 1 11 ------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX ------------------------------------------------------------------------------- Unit value $123.02 $109.63 ------------------------------------------------------------------------------- Number of units outstanding (000's) 50 258 ------------------------------------------------------------------------------- EQ/EVERGREEN FOUNDATION ------------------------------------------------------------------------------- Unit value $105.21 $ 98.95 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 ------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA ------------------------------------------------------------------------------- Unit value $106.63 $ 93.02 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 ------------------------------------------------------------------------------- EQ/FI MID CAP ------------------------------------------------------------------------------- Unit value -- $100.02 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 9 ------------------------------------------------------------------------------- EQ/FI SMALL/MID CAP VALUE ------------------------------------------------------------------------------- Unit value $ 83.36 $ 86.60 ------------------------------------------------------------------------------- Number of units outstanding (000's) 1 14 ------------------------------------------------------------------------------- EQ/JANUS LARGE CAP GROWTH ------------------------------------------------------------------------------- Unit value -- $ 83.99 ------------------------------------------------------------------------------- Number of units outstanding (000's) -- 12 ------------------------------------------------------------------------------- EQ/MERCURY BASIC VALUE EQUITY ------------------------------------------------------------------------------- Unit value $115.06 $127.11 ------------------------------------------------------------------------------- Number of units outstanding (000's) 7 41 ------------------------------------------------------------------------------- EQ/MFS EMERGING GROWTH COMPANIES ------------------------------------------------------------------------------- Unit value $177.65 $142.46 ------------------------------------------------------------------------------- Number of units outstanding (000's) 36 288 ------------------------------------------------------------------------------- EQ/MFS INVESTORS TRUST ------------------------------------------------------------------------------- Unit value $104.53 $102.57 ------------------------------------------------------------------------------- Number of units outstanding (000's) 2 17 -------------------------------------------------------------------------------
----- 17 -------------------------------------------------------------------------------- UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER MAY 1, 2001 (CONTINUED)
------------------------------------------------------------------------------- FOR THE YEARS ENDING DECEMBER 31, --------------------------------- 1999 2000 ------------------------------------------------------------------------------- EQ/MFS RESEARCH ------------------------------------------------------------------------------- Unit value $120.55 $112.84 ------------------------------------------------------------------------------- Number of units outstanding (000's) 6 84 ------------------------------------------------------------------------------- EQ/MORGAN STANLEY EMERGING MARKETS EQUITY ------------------------------------------------------------------------------- Unit value $157.61 $ 93.36 ------------------------------------------------------------------------------- Number of units outstanding (000's) 5 42 ------------------------------------------------------------------------------- EQ/PUTNAM BALANCED ------------------------------------------------------------------------------- Unit value $ 99.99 $107.65 ------------------------------------------------------------------------------- Number of units outstanding (000's) 3 10 ------------------------------------------------------------------------------- EQ/PUTNAM GROWTH & INCOME VALUE ------------------------------------------------------------------------------- Unit value $ 98.04 $103.43 ------------------------------------------------------------------------------- Number of units outstanding (000's) 3 17 ------------------------------------------------------------------------------- EQ/T. ROWE PRICE INTERNATIONAL STOCK ------------------------------------------------------------------------------- Unit value $122.67 $ 98.56 ------------------------------------------------------------------------------- Number of units outstanding (000's) 3 42 ------------------------------------------------------------------------------- MERCURY WORLD STRATEGY ------------------------------------------------------------------------------- Unit value $113.85 $ 99.61 ------------------------------------------------------------------------------- Number of units outstanding (000's) 1 6 ------------------------------------------------------------------------------- T. ROWE PRICE EQUITY INCOME ------------------------------------------------------------------------------- Unit value $103.45 $115.37 ------------------------------------------------------------------------------- Number of units outstanding (000's) 3 12 -------------------------------------------------------------------------------
(13) UPDATED INFORMATION ON EQUITABLE LIFE We are The Equitable Life Assurance Society of the United States ("Equitable Life"), a New York stock life insurance corporation. We have been doing business since 1859. Equitable Life is a subsidiary of AXA Financial, Inc. (previously, The Equitable Companies Incorporated). AXA, a French holding company for an international group of insurance and related financial services companies, is the sole shareholder of AXA Financial, Inc. As the sole shareholder, and under its other arrangements with Equitable Life and Equitable Life's parent, AXA exercises significant influence over the operations and capital structure of Equitable Life and its parent. No company other than Equitable Life, however, has any legal responsibility to pay amounts that Equitable Life owes under the contract. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $483.1 billion in assets as of December 31, 2000. For over 100 years Equitable Life has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, N.Y. 10104. ----- 18 -------------------------------------------------------------------------------- (14) INVESTMENT PERFORMANCE The tables below show the average annual total return of the variable investment options. Average annual total return is the annual rate of growth that would be necessary to achieve the ending value of a contribution invested in the variable investment options for the periods shown. The tables take into account all current fees and charges under the contracts, including the withdrawal charge but do not reflect the charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state if applicable, or any applicable annuity administrative fee. The results shown are based on the actual historical investment experience of the portfolios in which the variable investment options invest. In some cases, the results shown relate to periods when the variable investment options were not available. In those cases, we adjusted the results of the portfolios to reflect the charges under the contracts that would have applied had the investment options and/or contracts been available. For the "Alliance" portfolios (other than EQ/Alliance Premier Growth), we have adjusted the results prior to October 1996, when Class IB shares for these portfolios were not available, to reflect the 12b-1 fees currently imposed. Finally, the results shown for the EQ/Alliance Money Market, EQ/Balanced, EQ/Alliance Common Stock and EQ/Aggressive Stock options for periods before those options were operated as part of a unit investment trust reflect the results of the separate accounts that preceded them. The "Since portfolio inception" figures for these options are based on the date of inception of the preceding separate accounts. We have adjusted these results to reflect the fee and expense structure in effect for Separate Account A as a unit investment trust. See "The reorganization" in the SAI for additional information. EQ Advisors Trust commenced operations on May 1, 1997. For periods prior to October 18, 1999 the Alliance portfolios (other than EQ/Alliance Premier Growth and EQ/Alliance Technology) were part of The Hudson River Trust. On October 18, 1999, those portfolios became corresponding portfolios of EQ Advisors Trust. In each case, the performance shown is for the indicated EQ Advisors Trust portfolio and any predecessors that it may have had. All rates of return presented are time-weighted and include reinvestment of investment income, including interest and dividends. THE PERFORMANCE INFORMATION SHOWN BELOW AND THE PERFORMANCE INFORMATION THAT WE ADVERTISE REFLECT PAST PERFORMANCE AND DO NOT INDICATE HOW THE VARIABLE INVESTMENT OPTIONS MAY PERFORM IN THE FUTURE. SUCH INFORMATION ALSO DOES NOT REPRESENT THE RESULTS EARNED BY ANY PARTICULAR INVESTOR. YOUR RESULTS WILL DIFFER. ----- 19 --------------------------------------------------------------------------------
TABLE AVERAGE ANNUAL TOTAL RETURN UNDER A CONTRACT SURRENDERED ON DECEMBER 31, 2000 EQUI-VEST EXPRESS: ------------------------------------------------------------------------------------------------------------------------------------ LENGTH OF INVESTMENT PERIOD ---------------------------------------------------------------------------------- SINCE SINCE OPTION PORTFOLIO VARIABLE INVESTMENT OPTIONS 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION+** INCEPTION+*** ------------------------------------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock (22.88%) ( 4.21%) 2.86% 11.35% 11.11% 11.11% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Common Stock (23.76%) 6.58% 13.77% 14.81% 13.70% 10.06% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Global (28.24%) 6.03% 7.98% 11.11% 8.30% 8.24% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth and Income ( 1.50%) 10.94% 15.08% -- 13.24% 12.47% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth Investors (16.66%) 6.95% 9.18% 12.04% 8.98% 11.77% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance High Yield (18.56%) (11.41%) (0.21%) 6.27% 1.46% 4.68% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Intermediate Government Securities ( 1.30%) 0.37% 1.21% -- 2.04% 2.85% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance International (32.40%) 0.23% 0.30% -- 1.01% 1.80% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Money Market ( 4.11%) 0.29% 1.10% 1.02% 3.74% 3.74% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Premier Growth (27.78%) -- -- -- (10.52%) ( 8.35%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Quality Bond 1.02% 0.69% 2.13% -- 2.23% 1.88% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Small Cap Growth 3.32% 6.62% -- -- 9.28% 12.31% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Balanced (11.46%) 6.02% 8.03% 8.33% 7.86% 7.86% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research ( 4.19%) -- -- -- 2.95% 1.16% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian U.S. Equity ( 6.45%) -- -- -- ( 2.17%) ( 2.26%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index (19.45%) 6.59% 14.04% -- 15.75% 14.86% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega (21.30%) -- -- -- (11.52%) -- ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Small/Mid Cap Value ( 4.94%) ( 6.44%) -- -- ( 2.75%) ( 0.82%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mercury Basic Value Equity 1.54% 9.28% -- -- 10.07% 12.04% ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Emerging Growth Companies (28.21%) 19.39% -- -- 19.67% 22.02% ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Investors Trust (10.60%) -- -- -- ( 3.56%) -- ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Research (15.03%) 8.32% -- -- 9.35% 11.07% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Morgan Stanley Emerging Markets Equity (48.80%) (10.40%) -- -- (15.99%) (15.99%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Putnam Growth & Income Value ( 3.35%) 0.96% -- -- 3.40% 4.80% ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price International Stock (28.06%) 1.97% -- -- ( 0.25%) 0.79% ------------------------------------------------------------------------------------------------------------------------------------
----- 20 -------------------------------------------------------------------------------
EQUI-VEST: ------------------------------------------------------------------------------------------------------------------------------------ LENGTH OF INVESTMENT PERIOD ---------------------------------------------------------------------------------- SINCE SINCE OPTION PORTFOLIO VARIABLE INVESTMENT OPTIONS 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION+** INCEPTION+*** ------------------------------------------------------------------------------------------------------------------------------------ EQ/Aggressive Stock (20.37%) ( 4.37%) 2.04% 11.05% 10.81% 10.81% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Common Stock (21.20%) 6.01% 13.12% 14.52% 13.41% 9.71% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Global (25.44%) 5.48% 7.27% 10.82% 8.12% 7.95% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth and Income ( 0.13%) 10.43% 14.47% -- 13.03% 12.19% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Growth Investors (14.49%) 6.38% 8.46% 11.75% 8.77% 11.47% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance High Yield (16.28%) (11.12%) (0.91% 5.98% 1.32% 4.38%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Intermediate Government Securities 0.06% ( 0.03%) 0.44% -- 1.89% 2.56% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance International (29.38%) ( 0.14%) (0.42% -- 0.11% 0.92%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Money Market ( 2.60%) ( 0.10%) 0.34% 0.72% 3.43% 3.43% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Premier Growth (25.01%) -- -- -- ( 9.74%) ( 7.77%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Quality Bond 2.26% 0.27% 1.33% -- 2.07% 1.59% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Alliance Small Cap Growth 4.43% 6.04% -- -- 8.54% 11.61% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Balanced ( 9.56%) 5.44% 7.29% 8.03% 7.55% 7.55% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research ( 2.68%) -- -- -- 2.98% 1.20% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian U.S. Equity ( 4.82%) -- -- -- ( 1.86%) ( 2.03%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index (17.12%) 6.03% 13.39% -- 15.53% 14.64% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega (18.87%) -- -- -- (10.68%) ( 7.15%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Small/Mid Cap Value ( 3.39%) ( 6.47%) -- -- ( 3.26%) ( 1.41%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mercury Basic Value Equity 2.74% 8.70% -- -- 9.34% 11.34% ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Emerging Growth Companies (25.42%) 18.84% -- -- 19.00% 21.37% ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Investors Trust ( 8.75%) -- -- -- ( 3.17%) ( 1.99%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/MFS Research (12.94%) 7.75% -- -- 8.60% 10.36% ------------------------------------------------------------------------------------------------------------------------------------ EQ/Morgan Stanley Emerging Markets Equity (44.91%) (10.19%) -- -- (15.79%) (15.79%) ------------------------------------------------------------------------------------------------------------------------------------ EQ/Putnam Growth & Income Value ( 1.88%) 0.54% -- -- 2.62% 4.03% ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price International Stock (25.27%) 1.42% -- -- ( 0.93%) 0.08% ------------------------------------------------------------------------------------------------------------------------------------
+ Unannualized (including since inception values if time since inception is less than one year) ** The variable investment option inception dates are: EQ/Aggressive Stock and EQ/Balanced (1/27/86); EQ/Alliance Common Stock (8/27/81); EQ/Equity 500 Index, EQ/Alliance Global, EQ/Alliance Growth and Income, EQ/Alliance Growth Investors, EQ/Alliance High Yield and EQ/Alliance Quality Bond (1/4/94); EQ/Alliance Intermediate Government Securities (6/1/94); EQ/Alliance International (9/1/95); EQ/Alliance Money Market (7/13/81); EQ/Alliance Small Cap Growth, EQ/MFS Emerging Growth Companies, EQ/MFS Research, EQ/Mercury Basic Value Equity, EQ/Putnam Growth & Income Value, EQ/T. Rowe Price International Stock and EQ/FI Small/Mid Cap Value (6/2/97); EQ/Morgan Stanley, Emerging Markets Equity (8/20/97); EQ/Evergreen Omega and EQ/MFS Investors Trust (12/31/98); EQ/Alliance Premier Growth, EQ/Capital Guardian Research, EQ/Bernstein Diversified Value, and EQ/Capital Guardian U.S. Equity (8/30/99); EQ/Alliance Technology (5/1/00); EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive (9/1/00). No information is provided for portfolios and/or variable investment options with inception dates after 12/31/99. *** The inception dates for portfolios underlying the Alliance variable investment options shown in the tables are for portfolios of The Hudson River Trust, the assets of which became assets of corresponding portfolios of EQ Advisors Trust on 10/18/99. The portfolio inception dates are: EQ/Aggressive Stock and EQ/Balanced (1/27/86); EQ/Alliance Common Stock (8/1/68); EQ/Equity 500 Index (3/1/94); EQ/Alliance Global (8/27/87); EQ/Alliance Growth and Income (10/1/93); EQ/Alliance Growth Investors (10/2/89); EQ/Alliance High Yield (1/2/87); EQ/Alliance Intermediate Government Securities (4/1/91); EQ/Alliance International ----- 21 -------------------------------------------------------------------------------- (4/3/95); EQ/Alliance Money Market (7/13/81); EQ/Alliance Quality Bond (10/1/93); EQ/Alliance Small Cap Growth, EQ/MFS Emerging Growth Companies, EQ/MFS Research, EQ/Mercury Basic Value Equity, EQ/Putnam Growth & Income Value, EQ/T. Rowe Price International Stock and EQ/FI Small/Mid Cap Value (5/1/97); EQ/Morgan Stanley Emerging Markets Equity (8/20/97); EQ/Bernstein Diversified Value (1/1/98); EQ/Evergreen Omega and EQ/MFS Investors Trust (1/1/99); EQ/Alliance Premier Growth, EQ/Capital Guardian Research and EQ/Capital Guardian U.S. Equity (5/1/99); EQ/Alliance Technology (5/1/00); EQ/Janus Large Cap Growth, EQ/FI Mid Cap, EQ/AXP New Dimensions and EQ/AXP Strategy Aggressive (9/1/00). No information is provided for portfolios and/or variable investment options with inception dates after 12/31/99. (15) FOR EQUI-VEST CONTRACTS ONLY: CLARIFYING INFORMATION REGARDING WITHDRAWAL CHARGE WAIVERS. For series 800, we reserve the right to impose a withdrawal charge, in accordance with your contract and applicable state law, if the disability, or terminal illness, or confinement to nursing home existed at the time of the contribution, or if the disability, or terminal illness, or confinement to nursing home began within 12 months after the contribution. Statement of additional information -------------------------------------------------------------------------------- TABLE OF CONTENTS PAGE Required minimum distributions option 2 Revised Proposed Minimum Distribution Rules 2 Unit Values 4 Calculation of Annuity Payments 4 The reorganization 5 Custodian and independent accountants 6 EQ/Alliance Money Market option yield information 6 Other yield information 7 Distribution of the contracts 7 Financial statements 7 HOW TO OBTAIN AN EQUI-VEST STATEMENT OF ADDITIONAL INFORMATION FOR SEPARATE ACCOUNT A Call 1-800-628-6673 or send this request form to: EQUI-VEST Processing Office The Equitable Life P.O. Box 2996 New York, NY 10116-2996 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Please send me an EQUI-VEST Statement of Additional Information dated May 1, 2001. Check one: EQUI-VEST Express [ ] EQUI-VEST combination variable and fixed deferred annuity [ ] -------------------------------------------------------------------------------- Name: -------------------------------------------------------------------------------- Address: -------------------------------------------------------------------------------- City State Zip 888-1297 (5/01) EQUI-VEST(R) Express(SM) THE EQUITABLE LIFE ASSURANCE SOCIETY A Combination Variable and Fixed Deferred OF THE UNITED STATES Annuity Contract 1290 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10104 STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2001 -------------------------------------------------------------------------------- This Statement of Additional Information ("SAI") is not a Prospectus. It should be read in conjunction with the related Prospectus for EQUI-VEST Express, dated May 1, 2001. That Prospectus provides detailed information concerning the contracts and the variable investment options, as well as the fixed maturity options, that fund the contracts. Each variable investment option is a subaccount of Equitable Life's Separate Account A. Definitions of special terms used in the SAI are found in the Prospectus. A copy of the Prospectus is available free of charge by writing the processing office (P.O. Box 2996, New York, NY 10116-2996), by calling toll free, 1-800-628-6673, or by contacting your financial professional. TABLE OF CONTENTS Required Minimum Distributions Option 2 Revised Proposed Minimum Distribution Rules 2 Unit Values 4 Calculation of Annuity Payments 4 The Reorganization 5 Custodian and Independent Accountants 6 EQ/Alliance Money Market Option Yield Information 6 Other Yield Information 7 Distribution of the Contracts 7 Financial Statements 7 Copyright 2001. The Equitable Life Assurance Society of the United States New York, New York 10104. All rights reserved. 888-1261 E2979 Cat. No. 128232 ----- 2 -------------------------------------------------------------------------------- REQUIRED MINIMUM DISTRIBUTIONS OPTION If you elect this feature designed for annuitants age 70 1/2 or older, described in the prospectus, each year we calculate your minimum distribution based on the account value as of December 31 of the prior calendar year and then calculate the minimum distribution amount based on the various choices you make from among the choices we offer. This feature is available for traditional IRA contracts only. We designed this option to reflect the calculation of account-based lifetime required minimum distribution amounts under existing proposed regulations issued in 1987. We anticipate offering choices later in 2001 and 2002 to reflect proposed revisions issued in January, 2001 to these proposed regulations. See "Revised Proposed Minimum Distribution Rules," below. Please consult with your tax advisor before making any choice. Under our option, you may choose whether the required minimum distribution will be calculated based on your life expectancy alone, or based on the joint life expectancies of you and your spouse. You may also choose (1) to have us recalculate your life expectancy (or joint life expectancy) each year, or (2) not recalculate your life expectancy. If you have chosen a joint life expectancy method of calculation with your spouse, you may choose to either have both lives recalculated or not recalculated. When we recalculate life expectancy, that means that each calendar year we see what each individual's life expectancy is under Treasury Regulations. If life expectancy is not recalculated, it means that it is determined once, for the initial year, and in every subsequent year that number is reduced by one more year. If you do not specify a method, existing IRS proposed regulations require us to base a calculation on your life expectancy alone, recalculating it each year. If you do not specify that we should recalculate life expectancy, you cannot later apply your account value to an annuity payout. The minimum distribution calculation takes into account withdrawals made during the current calendar year but prior to the date we determine your minimum distribution amount, except that when the required minimum distribution is elected in the year in which the annuitant attains age 71 1/2, no adjustment for withdrawals will be made for any withdrawals made between January 1 and April 1 of the year in which the election is made. REVISED PROPOSED MINIMUM DISTRIBUTION RULES The proposed revisions issued in January, 2001 to the proposed regulations governing required minimum distributions under IRAs, TSAs and qualified plans chiefly affect the calculation of account-based annual minimum distribution withdrawals under these plans, contracts and arrangements. They also affect the calculation of required minimum distributions from such plans, contracts, and arrangements after the death of the contract owner or plan participant. Under the revised proposed rules the IRS has changed the divisor used to divide the account balance in calculating an owner's or participant's lifetime required minimum distribution amount for a traditional IRA or TSA or from a qualified plan. The "distribution period" corresponding to the age of the individual from the required minimum distribution incidental benefit (MDIB) table originally prescribed in the existing 1987 proposed regulations is the prescribed divisor for calculations under the revised proposed rules. Unless a special exception applies for owners or participants with spouses more than 10 years younger, this is the only table to be used to calculate account-based lifetime required minimum distributions. There is no need to pick a designated beneficiary, choose life expectancy factors or choose whether or not to recalculate life expectancy or choose term certain. Because the uniform distribution period table assumes more generous life expectancy-based factors than in the existing 1987 proposed regulations, the annual amount required to be distributed using the uniform distribution period table will generally be much smaller than under the existing rules. In the case of the spousal exception referred to before, the owner or participant can choose to use the longer distribution period measured by ----- 3 -------------------------------------------------------------------------------- the joint life and last survivor life expectancy of the owner or participant and younger spouse. The revised proposed rules retain the distinction between annually calculating a withdrawal amount (account-based approach) and applying funds to an annuity payout (annuitization) for complying with annual minimum distribution requirements. The revised proposed rules continue to allow an owner or participant to use a beneficiary in annuitization. However, when an owner or participant chooses an account-based approach, unless the younger spouse exception applies, the owner or participant no longer uses a beneficiary to calculate the required minimum distribution amount. An owner or plan participant can continue to choose a different approach for each of traditional IRA or TSA maintained and other retirement plans. For example, a plan participant with several traditional IRAs can choose an annuity payout from one IRA, a different annuity payout from the qualified plan, and an account-based annual withdrawal for another IRA. If permitted by the terms of the applicable plan or contract, an owner or plan participant who starts taking lifetime required minimum distributions using an account-based method can later apply funds to an annuity-based payout. If a period certain is elected, it cannot exceed remaining life expectancy. The revised proposed rules change how required minimum distribution payments must be made after the death of the owner or plan participant. Under the revised proposed rules the determination of the designated beneficiary and the calculation of the beneficiary's life expectancy generally are contemporaneous with commencement of required distributions to the beneficiary. Regardless of whether death occurs before or after the Required Beginning Date for lifetime required minimum distribution payments, the revised proposed rules extend the maximum time for determining who the beneficiary is to December 31st of the calendar year following the year of the death of the owner or plan participant. Regardless of whether death occurs before or after the Required Beginning Date for lifetime required minimum distribution payments, under the revised proposed rules an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the term certain method. That is, he or she determines his or her life expectancy using the life expectancy tables as of the calendar year after the owner or participant's death and reduces that number by one each subsequent year. If the owner or plan participant dies AFTER the Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is the surviving spouse, the revised proposed rules permit post-death distributions to be made over the spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. If the owner or plan participant dies AFTER the Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual such as the estate, the revised proposed rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner or plan participant's life expectancy in the year of death. For each subsequent year life expectancy is reduced by one (the term certain method). (Please note that we need an individual annuitant to keep an annuity contract or certificate in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity after the death of the annuitant.) If the owner or plan participant dies BEFORE the Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is the surviving spouse, as under the existing rules, the revised proposed rules permit the spouse to delay starting payments over his/her life expectancy until the year in which the owner or plan participant would have attained age 70 1/2. The revised proposed rules permit any individual beneficiary, including a spouse, to elect to apply the 5-year rule. Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's or plan participant's death BEFORE the Required Beginning Date, the entire account must be distributed by the end of the fifth year following the year of the owner's or ----- 4 -------------------------------------------------------------------------------- plan participant's death. No distribution is required for a year before that fifth year. If the owner or plan participant dies BEFORE the Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual such as the estate, the revised proposed rules continue to apply the 5-year rule discussed above. (Please note that we need an individual annuitant to keep an annuity contract or certificate in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity after the death of the annuitant.) UNIT VALUES Unit values are determined at the end of each "valuation period" for each of the variable investment options. A valuation period is each business day together with any consecutive preceding non-business day. The unit values for EQUI-VEST Express may vary. The method of calculating unit values is set forth below. The unit value for a variable investment option for any valuation period is equal to the unit value for the preceding valua-tion period multiplied by the "net investment factor" for the variable investment option for that valuation period. The net investment factor is: (a/b) - c where: (a) is the value of the variable investment option's shares of the corresponding Portfolio at the end of the valuation period before giving effect to any amounts allocated to or withdrawn from the variable investment options for the valuation period. For this purpose, we use the share value reported to us by EQ Advisors Trust. This share value is after deduction for investment advisory fees and direct expenses of EQ Advisors Trust. (b) is the value of the variable investment option's shares of the corresponding Portfolio at the end of the preceding valuation period (after any amounts allocated or withdrawn for that valuation period). (c) is the daily Separate Account A asset charge for the expenses of the contracts times the number of calendar days in the valuation period, plus any charge for taxes or amounts set aside as a reserve for taxes. CALCULATION OF ANNUITY PAYMENTS The calculation of monthly annuity payments under a contract takes into account the number of annuity units of each variable investment option credited under a contract, their respective annuity unit values, and a net investment factor. The annuity unit values used for EQUI-VEST Express may vary, although the method of calculating annuity unit values set forth below applies to all contracts. Annuity unit values will also vary by variable investment option. For each valuation period, the adjusted net investment factor is equal to the net investment factor for the variable investment option reduced for each day in the valuation period by: o .00013366 of the net investment factor for a contract with an assumed base rate of net investment return of 5% a year; or o .00009425 of the net investment factor for a contract with an assumed base rate of net investment return of 3 1/2%. Because of this adjustment, the annuity unit value rises and falls depending on whether the actual rate of net investment return (after charges) is higher or lower than the assumed base rate. The assumed base rate will be 5%, except in states where that rate is not permitted. Annuity payments based upon an assumed base rate of 3 1/2% will at first be smaller than those ----- 5 -------------------------------------------------------------------------------- based upon a 5% assumed base rate. Payments based upon a 3 1/2% rate, however, will rise more rapidly when unit values are rising, and payments will fall more slowly when unit values are falling than those based upon a 5% rate. The amounts of variable annuity payments are determined as follows: Payments normally start on the business day specified on your election form, or on such other future date as specified therein. The first three monthly payments are the same. The initial payment will be calculated using the basis guaranteed in the applicable EQUI-VEST Express contract or our current basis, whichever would provide the higher initial benefit. The first three payments depend on the assumed base rate of net investment return and the form of annuity chosen (and any fixed period). If the annuity involves a life contingency, the risk class and the age of the annuitants will affect payments. Payments after the first three will vary according to the investment performance of the variable investment option(s) selected to fund the variable payments. After that, each monthly payment will be calculated by multiplying the number of annuity units credited by the average annuity unit value for the selected option for the second calendar month immediately preceding the due date of the payment. The number of units is calculated by dividing the first monthly payment by the annuity unit value for the valuation period which includes the due date of the first monthly payment. The average annuity unit value is the average of the annuity unit values for the valuation periods ending in that month. ILLUSTRATION OF CALCULATION OF ANNUITY PAYMENTS To show how we determine variable annuity payments, assume that the account value for an EQUI-VEST Express contract on a retirement date is enough to fund an annuity with a monthly payment of $100 and that the annuity unit value of the selected variable investment option for the valuation period that includes the due date of the first annuity payment is $3.74. The number of annuity units credited under the contract would be 26.74 (100 divided by 3.74 = 26.74). Based on a hypothetical average annuity unit value of $3.56 in October 1999, the annuity payment due in December 1999 would be $95.19 (the number of units (26.74) times $3.56). THE REORGANIZATION Equitable Life established Separate Account A as a stock account on August 1, 1968. It was one of four separate investment accounts used to fund retirement benefits under variable annuity certificates issued by us. Each of these separate accounts, which included the predecessors to the Alliance Money Market Fund, EQ/Balanced Fund, Alliance Common Stock Fund and EQ/Aggressive Stock Fund, was organized as an open-end management investment company, with its own investment objectives and policies. Collectively, these separate accounts, as well as two other separate accounts which had been used to fund retirement benefits under certain other annuity contracts, are called the "predecessor separate accounts." On December 18, 1987, the predecessor separate accounts were combined in part and reorganized into the EQ/Alliance Money Market, EQ/Balanced, EQ/Alliance Common Stock and EQ/Aggressive Stock Funds of Separate Account A. In connection with the Reorganization, all of the assets and investment-related liabilities of the predecessor separate accounts were transferred to a corresponding portfolio of The Equitable Trust in exchange for shares of the portfolios of The Equitable Trust, which were issued to these corresponding Funds of Separate Account A. On September 6, 1991, all of the shares of The Equitable Trust held by these Funds were replaced by shares of portfolios of The Hudson River Trust corresponding to these Funds of Separate Account A. On October 18, 1999, the portfolios of The Hudson River Trust were transferred to EQ Advisors Trust. CUSTODIAN AND INDEPENDENT ACCOUNTANTS Equitable Life is the custodian for the shares of EQ Advisors Trust owned by Separate Account A. The financial statements of Separate Account A as at December 31, 2000 and for the periods ended December 31, 2000 and ----- 6 -------------------------------------------------------------------------------- 1999, and the consolidated financial statements of Equitable Life as at December 31, 2000 and 1999 and for each of the three years ended December 31, 2000 included in this SAI have been so included in reliance on the reports of PricewaterhouseCoopers LLP, independent accountants, given on the authority of such firm as experts in auditing and accounting. EQ/ALLIANCE MONEY MARKET OPTION YIELD INFORMATION The EQ/Alliance Money Market option calculates yield information for seven-day periods. To determine the seven-day rate of return, the net change in a unit value is computed by subtracting the unit value at the beginning of the period from the unit value, exclusive of capital changes, at the end of the period. The net change is then reduced by the average administrative charge factor for your contract. This reduction is made to recognize the deduction of the annual administrative charge, which is not reflected in the unit value. See the applicable "Annual administrative charge" section under "Charges and expenses" in the prospectus. Unit values reflect all other accrued expenses of the EQ/Alliance Money Market option. The adjusted net change is divided by the unit value at the beginning of the period to obtain the adjusted base period rate of return. This seven-day adjusted base period return is then multiplied by 365/7 to produce an annualized seven-day current yield figure carried to the nearest one-hundredth of one percent. The actual dollar amount of the annual administrative charge for EQUI-VEST Express that is deducted from the EQ/Alliance Money Market option will vary based on the percentage of the aggregate account value allocated to the EQ/Alliance Money Market option. To determine the effect of the annual administrative charge on the yield, we start with the actual aggregate annual administrative charges, as a percentage of total assets held under EQUI-VEST Express. This amount is multiplied by 7/365 to produce an average administrative charge factor which is used in weekly yield computations for the ensuing year. The average administrative charge is then divided by the number of EQ/Alliance Money Market option units for the EQUI-VEST Express contract as of the end of the prior calendar year, and the resulting quotient is deducted from the net change in unit value for the seven-day period. The effective yield is obtained by modifying the current yield to give effect to the compounding nature of the EQ/Alliance Money Market option's investments, as follows: the unannualized adjusted base period return is compounded by adding one to the adjusted base period return, raising the sum to a power equal to 365 divided by 7, and subtracting one from the result, i.e., effective yield = (base period return + 1) 365/7 - 1. The EQ/Alliance Money Market option yields will fluctuate daily. Accordingly, yields for any given period are not necessarily representative of future results. In addition, the value of units of the EQ/Alliance Money Market option will fluctuate and not remain constant. The EQ/Alliance Money Market option yields reflect charges that are not normally reflected in the yields of other investments and therefore may be lower when compared with yields of other investments. EQ/Alliance Money Market option yields should not be compared to the return on fixed-rate investments which guarantee rates of interest for specified periods, such as the guaranteed interest account or bank deposits. The yield should not be compared to the yield of money market funds made available to the general public because their yields usually are calculated on the basis of a constant $1 price per share and they pay out earnings in dividends which accrue on a daily basis. The seven-day current yield for the EQ/Alliance Money Market option was 4.15% for the period ended December 31, 2000. The effective yield for the EQ/Alliance Money Market option for that period was 4.24%. Because these yields reflect the deduction of variable investment option expenses, including the administrative charge, they are lower than the corresponding yield figures for the EQ/Alliance Money Market portfolio which reflect only the deduction of Trust-level expenses. ----- 7 -------------------------------------------------------------------------------- OTHER YIELD INFORMATION The effective yield is obtained by giving effect to the compounding nature of the variable investment option's invest-ments, as follows: the sum of the 30-day adjusted return, plus one, is raised to a power equal to 365 divided by 30, and sub-tracting one from the result. The effective yields for the 30-day period ended December 31, 2000 were 4.90% for the EQ/Alliance Intermediate Government Securities option, 4.77% for the EQ/Alliance Quality Bond option and 14.77% for the EQ/Alliance High Yield option. Because these yields reflect the deduction of variable investment option expenses, including the administrative charge, they are lower than the yield figures for the corresponding portfolios which reflect only the deduction of Trust-level expenses. DISTRIBUTION OF THE CONTRACTS Pursuant to a Distribution and Servicing Agreement between AXA Advisors, Equitable Life, and certain of Equitable Life's separate accounts, including Separate Account A, Equitable Life paid AXA Advisors a fee of $325,380 for each of the years 2000, 1999 and 1998. In 2000, Equitable Life paid AXA Advisors $666,577,890, as the distributor of certain contracts, including these contracts, and as the principal underwriter of several Equitable Life separate accounts, including Separate Account A. Of this amount, AXA Advisors retained $385,314,054. Financial Statements The consolidated financial statements of Equitable Life included herein should be considered only as bearing upon the ability of Equitable Life to meet its obligations under the contracts. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A INDEX TO FINANCIAL STATEMENTS Report of Independent Accountants............................. FSA-2 Financial Statements: Statements of Assets and Liabilities, December 31, 2000.... FSA-3 Statements of Operations for the Year Ended December 31, 2000......................................... FSA-9 Statements of Changes in Net Assets for the Years Ended December 31, 2000 and 1999.................... FSA-15 Notes to Financial Statements.............................. FSA-25 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Report of Independent Accountants............................. F-1 Consolidated Financial Statements: Consolidated Balance Sheets, December 31, 2000 and 1999.... F-2 Consolidated Statements of Earnings, Years Ended December 31, 2000, 1999 and 1998.......................... F-3 Consolidated Statements of Shareholder's Equity and Comprehensive Income, Years Ended December 31, 2000, 1999 and 1998............................................. F-4 Consolidated Statements of Cash Flows, Years Ended December 31, 2000, 1999 and 1998.......................... F-5 Notes to Consolidated Financial Statements................. F-7 FSA-1 REPORT OF INDEPENDENT ACCOUNTANTS To the Board of Directors of The Equitable Life Assurance Society of the United States and Contractowners of Separate Account A of The Equitable Life Assurance Society of the United States In our opinion, the accompanying statements of assets and liabilities and the related statements of operations and of changes in net assets present fairly, in all material respects, the financial position of the separate Variable Investment Options, listed in Note 1 to such financial statements, of The Equitable Life Assurance Society of the United States ("Equitable Life") Separate Account A at December 31, 2000, and the results of each of their operations and the changes in each of their net assets for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of Equitable Life's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with auditing standards generally accepted in the United States of America which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of shares owned in the EQ Advisors Trust at December 31, 2000 with the transfer agent of the EQ Advisors Trust, provide a reasonable basis for our opinion. /s/PricewaterhouseCoopers LLP New York, New York February 5, 2001 FSA-2 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES DECEMBER 31, 2000
ALLIANCE ALLIANCE COMMON CONSERVATIVE ALLIANCE STOCK INVESTORS GLOBAL ---------------- ------------ ------------ ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $8,426,313,427 ........................ $ 7,634,861,017 147,829,545 ........................ $149,488,557 1,064,034,012 ........................ $857,499,505 1,005,033,573 ........................ 1,025,030,717 ........................ 182,673,198 ........................ 54,476,917 ........................ Receivable for Trust shares sold .............. 120,489 - - Receivable for policy-related transactions (Note 3) ..................................... 18,994,282 947,434 4,891,734 ---------------- ------------ ------------ Total assets ................................ 6,653,975,788 150,435,991 862,391,239 ---------------- ------------ ------------ LIABILITIES: Payable for Trust shares purchased ............ - 214,978 844,206 Payable for policy-related transactions (Note 3) ..................................... - - - ---------------- ------------ ------------ Total liabilities ........................... - 214,978 844,206 ---------------- ------------ ------------ NET ASSETS .................................... $ 7,653,975,788 $150,221,013 $861,547,033 ================ ============ ============ Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 547,147 $ 48,099 $ 83,015 Net Assets attributable to Contractowners ..... 7,653,428,641 150,172,914 861,464,018 ---------------- ------------ ------------ NET ASSETS .................................... $ 7,653,975,788 $150,221,013 $861,547,033 ================ ============ ============ ALLIANCE ALLIANCE ALLIANCE ALLIANCE INTERMEDIATE GROWTH AND GROWTH HIGH GOVERNMENT INCOME INVESTORS YIELD SECURITIES ---------------- ----------------- --------------- ------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $8,426,313,427 ........................ 147,829,545 ........................ 1,064,034,012 ........................ 1,005,033,573 ........................ $1,036,942,796 1,025,030,717 ........................ $1,049,364,654 182,673,198 ........................ $121,727,187 54,476,917 ........................ $53,491,482 Receivable for Trust shares sold .............. - - - - Receivable for policy-related transactions (Note 3) ..................................... 5,943,487 5,371,122 564,757 458,046 -------------- -------------- ------------ ----------- Total assets ................................ 1,042,886,283 1,054,735,776 122,291,944 53,949,528 -------------- -------------- ------------ ----------- LIABILITIES: Payable for Trust shares purchased ............ 1,551,288 993,957 122,791 166,187 Payable for policy-related transactions (Note 3) ..................................... - - - - -------------- -------------- ------------ ----------- Total liabilities ........................... 1,551,288 993,957 122,791 166,187 -------------- -------------- ------------ ----------- NET ASSETS .................................... $1,041,334,995 $1,053,741,819 $122,169,153 $53,783,341 ============== ============== ============ =========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 250,585 $ 515,822 $ 338,544 $ 377,537 Net Assets attributable to Contractowners ..... 1,041,084,410 1,053,225,997 121,830,609 53,405,804 -------------- -------------- ------------ ----------- NET ASSETS .................................... $1,041,334,995 $1,053,741,819 $122,169,153 $53,783,341 ============== ============== ============ ===========
------- See Notes to Financial Statements. FSA-3 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED) DECEMBER 31, 2000
ALLIANCE ALLIANCE ALLIANCE MONEY QUALITY INTERNATIONAL MARKET BOND --------------- --------------- ----------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $157,043,732 .......................... $145,620,417 151,049,575 .......................... $147,627,517 94,976,864 .......................... $92,610,325 427,705,230 .......................... 3,939,114 .......................... 114,062 .......................... 6,477,858 .......................... Receivable for Trust shares sold .............. 2,603,812 - 20,405 Receivable for policy-related transactions (Note 3) ..................................... - 9,485,725 - ------------ ------------ ----------- Total assets ................................ 148,224,229 157,113,242 92,630,730 ------------ ------------ ----------- LIABILITIES: Payable for Trust shares purchased ............ - 405,057 - Payable for policy-related transactions (Note 3) ..................................... 1,827,227 - 183,325 ------------ ------------ ----------- Total liabilities ........................... 1,827,227 405,057 183,325 ------------ ------------ ----------- NET ASSETS .................................... $146,397,002 $156,708,185 $92,447,405 ============ ============ =========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 205,680 $ 56,000 $ 85,058 Net Assets attributable to Contractowners ..... 146,191,322 156,652,185 92,362,347 ------------ ------------ ----------- NET ASSETS .................................... $146,397,002 $156,708,185 $92,447,405 ============ ============ =========== ALLIANCE SMALL CALVERT CAPITAL CAPITAL CAP SOCIALLY GUARDIAN GUARDIAN GROWTH RESPONSIBLE INTERNATIONAL RESEARCH --------------- ------------- --------------- ------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $157,043,732 .......................... 151,049,575 .......................... 94,976,864 .......................... 427,705,230 .......................... $358,250,173 3,939,114 .......................... $3,684,407 114,062 .......................... $102,233 6,477,858 .......................... $6,403,519 Receivable for Trust shares sold .............. 7,627,146 17 - - Receivable for policy-related transactions (Note 3) ..................................... - - 857 125,735 ------------ ---------- -------- ---------- Total assets ................................ 365,877,319 3,684,424 103,090 6,529,254 ------------ ---------- -------- ---------- LIABILITIES: Payable for Trust shares purchased ............ - - 857 112,186 Payable for policy-related transactions (Note 3) ..................................... 6,491,255 17 - - ------------ ---------- -------- ---------- Total liabilities ........................... 6,491,255 17 857 112,186 ------------ ---------- -------- ---------- NET ASSETS .................................... $359,386,064 $3,684,407 $102,233 $6,417,068 ============ ========== ======== ========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 52,197 $2,099,905 $ 1,192 $ 30,233 Net Assets attributable to Contractowners ..... 359,333,867 1,584,502 101,041 6,386,835 ------------ ---------- -------- ---------- NET ASSETS .................................... $359,386,064 $3,684,407 $102,233 $6,417,068 ============ ========== ======== ==========
------- See Notes to Financial Statements. FSA-4 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED) DECEMBER 31, 2000
CAPITAL EQ/ EQ/ALLIANCE GUARDIAN AGGRESSIVE PREMIER U.S. EQUITY STOCK GROWTH ------------- ---------------- --------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $ 5,033,556 ........................ $5,003,624 2,655,444,914 ........................ $2,290,928,298 369,180,568 ........................ $305,655,538 132,539,508 ........................ 4,380,805 ........................ 4,431,040 ........................ 1,437,044,063 ........................ Receivable for Trust shares sold .............. - 24,772,706 - Receivable for policy-related transactions (Note 3) ..................................... 60,529 - 91,694 ---------- -------------- ------------ Total assets ................................ 5,064,153 2,315,701,004 305,747,232 ---------- -------------- ------------ LIABILITIES: Payable for Trust shares purchased ............ 60,529 - 60,347 Payable for policy-related transactions (Note 3) ..................................... - 12,566,337 - ---------- -------------- ------------ Total liabilities ........................... 60,529 12,566,337 60,347 ---------- -------------- ------------ NET ASSETS .................................... $5,003,624 $2,303,134,667 $305,686,885 ========== ============== ============ Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 36,642 $ 130,344 $ 48,891 Net Assets attributable to Contractowners ..... 4,966,982 2,303,004,323 305,637,994 ---------- -------------- ------------ NET ASSETS .................................... $5,003,624 $2,303,134,667 $305,686,885 ========== ============== ============ EQ/AXP EQ/AXP EQ/ALLIANCE NEW STRATEGY EQ/ TECHNOLOGY DIMENSIONS AGGRESSIVE BALANCED --------------- ------------ ------------ ----------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $ 5,033,556 ........................ 2,655,444,914 ........................ 369,180,568 ........................ 132,539,508 ........................ $103,684,191 4,380,805 ........................ $4,162,576 4,431,040 ........................ $4,145,064 1,437,044,063 ........................ $1,295,740,610 Receivable for Trust shares sold .............. - - 863,299 - Receivable for policy-related transactions (Note 3) ..................................... - 20,199 - 5,195,232 ------------ ---------- ---------- -------------- Total assets ................................ 103,684,191 4,182,775 5,008,363 1,300,935,842 ------------ ---------- ---------- -------------- LIABILITIES: Payable for Trust shares purchased ............ 8,897 20,199 - 1,549,297 Payable for policy-related transactions (Note 3) ..................................... 175,387 - 867,270 - ------------ ---------- ---------- -------------- Total liabilities ........................... 184,284 20,199 867,270 1,549,297 ------------ ---------- ---------- -------------- NET ASSETS .................................... $103,499,907 $4,162,576 $4,141,093 $1,299,386,545 ============ ========== ========== ============== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 35,297 $ 416,790 $ 307,021 $ 56,669 Net Assets attributable to Contractowners ..... 103,464,610 3,745,786 3,834,072 1,299,329,876 ------------ ---------- ---------- -------------- NET ASSETS .................................... $103,499,907 $4,162,576 $4,141,093 $1,299,386,545 ============ ========== ========== ==============
------- See Notes to Financial Statements. FSA-5 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED) DECEMBER 31, 2000
EQ EQUITY EQ/ 500 EQ/ EVERGREEN INDEX EVERGREEN FOUNDATION ----------------- ------------- ------------ ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $1,443,302,548 ........................ $1,414,839,131 2,361,372 ........................ $2,131,093 2,209,104 ........................ $2,113,779 17,607,003 ........................ 39,024,749 ........................ 73,257,437 ........................ 1,682,244 ........................ Receivable for Trust shares sold .............. 321,947 - - Receivable for policy-related transactions (Note 3) ..................................... 4,668,357 7,894 13,548 -------------- ---------- ---------- TOTAL ASSETS ................................ 1,419,829,435 2,138,987 2,127,327 -------------- ---------- ---------- LIABILITIES: Payable for Trust shares purchased ............ - 7,894 13,549 Payable for policy-related transactions (Note 3) ..................................... - - - -------------- ---------- ---------- Total liabilities ........................... - 7,894 13,549 -------------- ---------- ---------- NET ASSETS .................................... $1,419,829,435 $2,131,093 $2,113,778 ============== ========== ========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 253,796 $ 23,804 $ 25,337 Net Assets attributable to Contractowners ..... 1,419,575,639 2,107,289 2,088,441 -------------- ---------- ---------- NET ASSETS .................................... $1,419,829,435 $2,131,093 $2,113,778 ============== ========== ========== EQ/JANUS EQ/PUTNAM LARGE GROWTH & EQ/PUTNAM CAP EQ/PUTNAM INCOME INTERNATIONAL GROWTH BALANCED VALUE EQUITY -------------- -------------- -------------- -------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $1,443,302,548 ........................ 2,361,372 ........................ 2,209,104 ........................ 17,607,003 ........................ $16,523,533 39,024,749 ........................ $40,255,025 73,257,437 ........................ $73,327,876 1,682,244 ........................ $1,293,298 Receivable for Trust shares sold .............. - 211,199 278,513 7,346 Receivable for policy-related transactions (Note 3) ..................................... 179,222 - - - ----------- ----------- ----------- ---------- Total assets ................................ 16,702,755 40,466,224 73,606,389 1,300,644 ----------- ----------- ----------- ---------- LIABILITIES: Payable for Trust shares purchased ............ 179,222 - - - Payable for policy-related transactions (Note 3) ..................................... - 204,109 245,593 3,067 ----------- ----------- ----------- ---------- Total liabilities ........................... 179,222 204,109 245,593 3,067 ----------- ----------- ----------- ---------- NET ASSETS .................................... $16,523,533 $40,262,115 $73,360,796 $1,297,577 =========== =========== =========== ========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 425,582 $ 99,783 $ 48,185 $ 21,907 Net Assets attributable to Contractowners ..... 16,097,951 40,162,332 73,312,611 1,275,670 ----------- ----------- ----------- ---------- NET ASSETS .................................... $16,523,533 $40,262,115 $73,360,796 $1,297,577 =========== =========== =========== ==========
------- See Notes to Financial Statements. FSA-6 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED) DECEMBER 31, 2000
EQ/PUTNAM FI SMALL/ INVESTORS FI MID CAP GROWTH MID CAP VALUE ----------- -------------- -------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $ 500,521 .......................... $419,087 10,483,130 .......................... $10,773,407 66,781,234 .......................... $73,131,598 83,695 .......................... 111,633 .......................... 118,987,625 .......................... 15,179,520 .......................... Receivable for Trust shares sold .............. 625 - 1,880,144 Receivable for policy-related transactions (Note 3) ..................................... 28,873 234,097 - -------- ----------- ----------- Total assets ................................ 448,585 11,007,504 75,011,742 -------- ----------- ----------- LIABILITIES: Payable for Trust shares purchased ............ - 234,096 - Payable for policy-related transactions (Note 3) ..................................... - - 1,849,817 -------- ----------- ----------- Total liabilities ........................... - 234,096 1,849,817 -------- ----------- ----------- NET ASSETS .................................... $448,585 $10,773,408 $73,161,925 ======== =========== =========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 22,884 $ 504,088 $ 93,893 Net Assets attributable to Contractowners ..... 425,701 10,269,320 73,068,032 -------- ----------- ----------- NET ASSETS .................................... $448,585 $10,773,408 $73,161,925 ======== =========== =========== MERCURY LAZARD LAZARD BASIC MERCURY LARGE SMALL VALUE WORLD CAP VALUE CAP VALUE EQUITY STRATEGY ----------- ----------- --------------- -------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $ 500,521 .......................... 10,483,130 .......................... 66,781,234 .......................... 83,695 .......................... $84,382 111,633 .......................... $119,132 118,987,625 .......................... $116,882,153 15,179,520 .......................... $13,097,189 Receivable for Trust shares sold .............. - - - - Receivable for policy-related transactions (Note 3) ..................................... 152 611 463,355 - ------- -------- ------------ ----------- Total assets ................................ 84,534 119,743 117,345,508 13,097,189 ------- -------- ------------ ----------- LIABILITIES: Payable for Trust shares purchased ............ 152 610 281,852 14,207 Payable for policy-related transactions (Note 3) ..................................... - - - 761,972 ------- -------- ------------ ----------- Total liabilities ........................... 152 610 281,852 776,179 ------- -------- ------------ ----------- NET ASSETS .................................... $84,382 $119,133 $117,063,656 $12,321,010 ======= ======== ============ =========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 453 $ 134 $ 88,494 $ 51,505 Net Assets attributable to Contractowners ..... 83,929 118,999 116,975,162 12,269,505 ------- -------- ------------ ----------- NET ASSETS .................................... $84,382 $119,133 $117,063,656 $12,321,010 ======= ======== ============ ===========
------- See Notes to Financial Statements. FSA-7 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED) DECEMBER 31, 2000
MFS EMERGING MFS GROWTH GROWTH WITH COMPANIES INCOME --------------- ------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $1,170,559,029 ....................... $921,582,197 10,242,655 ....................... $10,145,649 250,220,957 ....................... 87,303,443 ....................... 127,132,799 ....................... 130,528,761 ....................... Receivable for Trust shares sold ............. 783,051 - Receivable for policy-related transactions (Note 3) ..................................... 1,359,172 32,977 ------------ ----------- Total assets ................................ 923,724,420 10,178,626 ------------ ----------- LIABILITIES: Payable for Trust shares purchased ............ - 32,977 Payable for policy-related transactions (Note 3) ..................................... - - ------------ ----------- Total liabilities ........................... - 32,977 ------------ ----------- NET ASSETS .................................... $923,724,420 $10,145,649 ============ =========== Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 19,836 $ 31,595 Net Assets attributable to Contractowners ..... 923,704,584 10,114,054 ------------ ----------- NET ASSETS .................................... $923,724,420 $10,145,649 ============ =========== MORGAN STANLEY T. ROWE T. ROWE EMERGING PRICE PRICE MFS MARKETS EQUITY INTERNATIONAL RESEARCH EQUITY INCOME STOCK --------------- -------------- --------------- --------------- ASSETS: Investments in shares of The Trust, at fair value (Note 2) Cost: $1,170,559,029 ........................ 10,242,655 ........................ 250,220,957 ........................ $223,428,608 87,303,443 ........................ $70,003,147 127,132,799 ........................ $128,423,830 130,528,761 ........................ $111,329,334 Receivable for Trust shares sold .............. - 1,575,653 649,194 261,426 Receivable for policy-related transactions (Note 3) ..................................... 514,119 - - - ------------ ----------- ------------ ------------ Total assets ................................ 223,942,727 71,578,800 129,073,024 111,590,760 ------------ ----------- ------------ ------------ LIABILITIES: Payable for Trust shares purchased ............ 275,970 - - - Payable for policy-related transactions (Note 3) ..................................... - 1,513,228 554,251 221,353 ------------ ----------- ------------ ------------ Total liabilities ........................... 275,970 1,513,228 554,251 221,353 ------------ ----------- ------------ ------------ NET ASSETS .................................... $223,666,757 $70,065,572 $128,518,773 $111,369,407 ============ =========== ============ ============ Amount retained by Equitable Life in Separate Account A (Note 6) .................. $ 52,419 $ 56,625 $ 72,927 $ 27,741 Net Assets attributable to Contractowners ..... 223,614,338 70,008,947 128,445,846 111,341,666 ------------ ----------- ------------ ------------ NET ASSETS .................................... $223,666,757 $70,065,572 $128,518,773 $111,369,407 ============ =========== ============ ============
------- See Notes to Financial Statements. FSA-8 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2000
ALLIANCE ALLIANCE COMMON CONSERVATIVE ALLIANCE STOCK INVESTORS GLOBAL ------------------- --------------- ------------------ INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 53,594,787 $ 5,773,630 $ 1,658,489 ---------------- ------------- -------------- Expenses (Note 3): Asset-based charges .................................. 127,997,164 1,925,126 13,676,131 Less: Reduction for expense limitation ................ (16,243,388) - - ---------------- ------------- -------------- Net expenses ......................................... 111,753,776 1,925,126 13,676,131 ---------------- ------------- -------------- NET INVESTMENT INCOME (LOSS) ........................... (58,158,989) 3,848,504 (12,017,642) REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 354,983,662 3,545,683 162,304,089 Realized gain distribution from The Trust ............ 1,558,299,851 3,429,569 93,871,497 ---------------- ------------- -------------- Net realized gain (loss) .............................. 1,913,283,513 6,975,252 256,175,586 Change in unrealized appreciation (depreciation) of investments .......................................... (3,236,756,480) (7,697,466) (452,443,695) ---------------- ------------- -------------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (1,323,472,967) (722,214) (196,268,109) ---------------- ------------- -------------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (1,381,631,956) $ 3,126,290 $ (208,285,751) ================ ============= ============== ALLIANCE ALLIANCE ALLIANCE ALLIANCE INTERMEDIATE GROWTH AND GROWTH HIGH GOVERNMENT INCOME INVESTORS YIELD SECURITIES ----------------- ----------------- ---------------- -------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 8,647,374 $ 19,864,306 $ 14,111,151 $3,032,997 --------------- -------------- ------------- ---------- Expenses (Note 3): Asset-based charges .................................. 12,603,671 14,846,327 1,872,472 663,358 Less: Reduction for expense limitation ................ - - - (12,831) --------------- -------------- ------------- ---------- Net expenses ......................................... 12,603,671 14,846,327 1,872,472 663,358 --------------- -------------- ------------- ---------- NET INVESTMENT INCOME (LOSS) ........................... (3,956,297) 5,017,979 12,238,678 2,382,471 REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 72,397,674 17,493,395 (17,865,281) 242,764 Realized gain distribution from The Trust ............ 99,230,307 72,188,246 - - --------------- -------------- ------------- ---------- Net realized gain (loss) .............................. 171,627,981 89,681,641 (17,865,281) 242,764 Change in unrealized appreciation (depreciation) of investments .......................................... (100,366,232) (185,230,420) (8,293,826) 1,190,732 --------------- -------------- ------------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... 71,261,749 (95,548,779) (26,159,107) 1,433,496 --------------- -------------- ------------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ 67,305,452 $ (90,530,801) $ (13,920,429) $3,815,967 =============== ============== ============= ==========
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-9 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2000
ALLIANCE ALLIANCE ALLIANCE MONEY QUALITY INTERNATIONAL MARKET BOND ----------------- --------------- ------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 784,656 $ 8,045,631 $5,475,228 ------------- ------------- ---------- Expenses (Note 3): Asset-based charges .................................. 2,385,164 2,029,155 1,115,610 Less: Reduction for expense limitation ................ - (96,828) - ------------- ------------- ---------- Net expenses ......................................... 2,385,164 1,932,327 1,115,610 ------------- ------------- ---------- NET INVESTMENT INCOME (LOSS) ........................... (1,600,508) 6,113,304 4,359,618 REALIZED AND UNREALIZED GAIN (LOSS) ON ------------- ------------- ---------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. (18,375,250) 3,039,143 (316,765) Realized gain distribution from The Trust ............ 13,986,322 16,344 - ------------- ------------- ---------- Net realized gain (loss) .............................. (4,388,928) 3,055,487 (316,765) Change in unrealized appreciation (depreciation) of investments .......................................... (32,056,358) (1,973,129) 4,142,328 ------------- ------------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (36,445,286) 1,082,358 3,825,563 ------------- ------------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (38,045,794) $ 7,195,662 $8,185,181 ============= ============= ========== ALLIANCE SMALL CALVERT CAPITAL CAPITAL CAP SOCIALLY GUARDIAN GUARDIAN GROWTH RESPONSIBLE INTERNATIONAL RESEARCH ---------------- ------------- --------------- ------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ - $ 206,676 $ 345 $ 74,415 -------------- ---------- --------- ----------- Expenses (Note 3): Asset-based charges .................................. 3,750,852 12,661 1,052 44,326 Less: Reduction for expense limitation ................ - - - - -------------- ---------- --------- ----------- Net expenses ......................................... 3,750,852 12,661 1,052 44,326 -------------- ---------- --------- ----------- NET INVESTMENT INCOME (LOSS) ........................... (3,750,852) 194,015 (707) 30,089 REALIZED AND UNREALIZED GAIN (LOSS) ON -------------- ---------- --------- ----------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 68,051,854 53,469 (11) 159,917 Realized gain distribution from The Trust ............ 40,509,864 58,893 587 - -------------- ---------- --------- ----------- Net realized gain (loss) .............................. 108,561,718 112,362 576 159,917 Change in unrealized appreciation (depreciation) of investments .......................................... (94,632,594) (426,892) (19,538) (103,622) -------------- ---------- --------- ----------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... 13,929,124 (314,530) (18,962) 56,295 -------------- ---------- --------- ----------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (NOTE 2) .............................. $ 10,178,272 $ (120,515) $ (19,669) $ 86,384 ============== ========== ========= ===========
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-10 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2000
CAPITAL EQ/ EQ/ALLIANCE GUARDIAN AGGRESSIVE PREMIER U.S. EQUITY STOCK GROWTH ------------- ----------------- ----------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 80,274 $ 9,458,024 $ 1,909,654 ----------- -------------- ------------- Expenses (Note 3): Asset-based charges .................................. 42,257 35,432,433 3,266,273 Less: Reduction for expense limitation ................ - (5,350,024) - ----------- -------------- ------------- Net expenses ......................................... 42,257 30,082,409 3,266,273 ----------- -------------- ------------- NET INVESTMENT INCOME (LOSS) ........................... 38,017 (20,624,385) (1,356,619) REALIZED AND UNREALIZED GAIN (LOSS) ON ----------- -------------- ------------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 146,731 (17,521,814) 5,620,276 Realized gain distribution from The Trust ............ 12,500 178,753,959 - ----------- -------------- ------------- Net realized gain (loss) .............................. 159,231 161,232,145 5,620,276 Change in unrealized appreciation (depreciation) of investments .......................................... (105,299) (531,345,040) (73,936,823) ----------- -------------- ------------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... 53,932 (370,112,895) (68,316,547) ----------- -------------- ------------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ 91,949 $ (390,737,280) $ (69,673,166) =========== ============== ============= EQ/AXP EQ/AXP EQ/ALLIANCE NEW STRATEGY EQ/ TECHNOLOGY DIMENSIONS AGGRESSIVE BALANCED ----------------- -------------- -------------- ----------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ - $ 5,386 $ 4,660 $ 43,482,661 ------------- ---------- ---------- -------------- Expenses (Note 3): Asset-based charges .................................. 541,410 5,990 5,582 20,729,909 Less: Reduction for expense limitation ................ - - - (4,480,259) ------------- ---------- ---------- -------------- Net expenses ......................................... 541,410 5,990 5,582 16,249,650 ------------- ---------- ---------- -------------- NET INVESTMENT INCOME (LOSS) ........................... (541,410) (604) (922) 27,233,011 REALIZED AND UNREALIZED GAIN (LOSS) ON ------------- ---------- ---------- -------------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. (6,101,686) (15,727) (442,565) 22,297,392 Realized gain distribution from The Trust ............ - - - 213,622,544 ------------- ---------- ---------- -------------- Net realized gain (loss) .............................. (6,101,686) (15,727) (442,565) 235,919,936 Change in unrealized appreciation (depreciation) of investments .......................................... (28,855,317) (218,229) (285,976) (295,542,367) ------------- ---------- ---------- -------------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (34,957,003) (233,956) (728,541) (59,622,431) ------------- ---------- ---------- -------------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (35,498,413) $ (234,560) $ (729,463) $ (32,389,420) ============= ========== ========== ==============
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-11 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2000
EQ EQUITY EQ/ 500 EQ/ EVERGREEN INDEX EVERGREEN FOUNDATION ------------------ ------------- -------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 10,294,439 $ 5,532 $ 28,961 -------------- ---------- ---------- Expenses (Note 3): Asset-based charges .................................. 20,954,309 22,184 13,938 Less: Reduction for expense limitation ................ - - - -------------- ---------- ---------- Net expenses ......................................... 20,954,309 22,184 13,938 -------------- ---------- ---------- NET INVESTMENT INCOME (LOSS) ........................... (10,659,870) (16,652) 15,023 REALIZED AND UNREALIZED GAIN (LOSS) ON -------------- ---------- ---------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 215,851,212 (8,863) (17,757) Realized gain distribution from The Trust ............ 62,208,884 - - -------------- ---------- ---------- Net realized gain (loss) .............................. 278,060,096 (8,863) (17,757) Change in unrealized appreciation (depreciation) of investments .......................................... (439,580,620) (246,813) (99,586) -------------- ---------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (161,520,524) (255,676) (117,343) -------------- ---------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (172,180,394) $ (272,328) $ (102,320) ============== ========== ========== EQ/JANUS EQ/PUTNAM LARGE GROWTH & EQ/PUTNAM CAP EQ/PUTNAM INCOME INTERNATIONAL GROWTH BALANCED VALUE EQUITY --------------- --------------- --------------- -------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 17,798 $ 1,215,020 $ 705,720 $ 112,107 ------------ ------------- ------------- ---------- Expenses (Note 3): Asset-based charges .................................. 26,711 520,710 963,722 13,544 Less: Reduction for expense limitation ................ - - - - ------------ ------------- ------------- ---------- Net expenses ......................................... 26,711 520,710 963,722 13,544 ------------ ------------- ------------- ---------- NET INVESTMENT INCOME (LOSS) ........................... (8,913) 694,310 (258,002) 98,563 REALIZED AND UNREALIZED GAIN (LOSS) ON ------------ ------------- ------------- ---------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. (73,085) (1,210,350) (1,936,499) (15,106) Realized gain distribution from The Trust ............ - - - 147,696 ------------ ------------- ------------- ---------- Net realized gain (loss) .............................. (73,085) (1,210,350) (1,936,499) 132,590 Change in unrealized appreciation (depreciation) of investments .......................................... (1,083,470) 3,211,077 5,323,529 (403,258) ------------ ------------- ------------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (1,156,555) 2,000,727 3,387,030 (270,668) ------------ ------------- ------------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (1,165,468) $ 2,695,037 $ 3,129,028 $ (172,105) ============ ============= ============= ==========
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-12 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2000
EQ/PUTNAM FI SMALL/ INVESTORS FI MID CAP GROWTH MID CAP VALUE ------------- ----------- --------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 6,268 $ 14,902 $ 677,319 --------- -------- ------------- Expenses (Note 3): Asset-based charges .................................. 5,167 14,470 884,708 Less: Reduction for expense limitation ................ - - - --------- -------- ------------- Net expenses ......................................... 5,167 14,470 884,708 --------- -------- ------------- NET INVESTMENT INCOME (LOSS) ........................... 1,101 432 (207,389) REALIZED AND UNREALIZED GAIN (LOSS) ON --------- -------- ------------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. (9,548) 5,829 (3,851,966) Realized gain distribution from The Trust ............ 2,320 - - --------- -------- ------------- Net realized gain (loss) .............................. (7,228) 5,829 (3,851,966) Change in unrealized appreciation (depreciation) of investments .......................................... (88,099) 290,277 6,102,650 --------- -------- ------------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (95,327) 296,106 2,250,684 --------- -------- ------------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (94,226) $296,538 $ 2,043,295 ========= ======== ============= MERCURY LAZARD LAZARD BASIC MERCURY LARGE SMALL VALUE WORLD CAP VALUE CAP VALUE EQUITY STRATEGY ----------- ----------- --------------- --------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 665 $ 2,892 $ 5,572,601 $ 359,335 ----- ------- ------------ ------------ Expenses (Note 3): Asset-based charges .................................. 742 860 1,378,868 172,311 Less: Reduction for expense limitation ................ - - - - ----- ------- ------------ ------------ Net expenses ......................................... 742 860 1,378,868 172,311 ----- ------- ------------ ------------ NET INVESTMENT INCOME (LOSS) ........................... (77) 2,032 4,193,733 187,024 REALIZED AND UNREALIZED GAIN (LOSS) ON ----- ------- ------------ ------------ INVESTMENTS (Note 2): Realized gain (loss) on investments .................. (22) 1,160 4,256,883 361,713 Realized gain distribution from The Trust ............ - - 5,487,891 906,591 ----- ------- ------------ ------------ Net realized gain (loss) .............................. (22) 1,160 9,744,774 1,268,304 Change in unrealized appreciation (depreciation) of investments .......................................... 687 7,033 (3,226,719) (3,246,691) ----- ------- ------------ ------------ NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... 665 8,193 6,518,055 (1,978,387) ----- ------- ------------ ------------ NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ 588 $10,225 $ 10,711,788 $ (1,791,363) ===== ======= ============ ============
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-13 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF OPERATIONS (CONCLUDED) FOR THE YEAR ENDED DECEMBER 31, 2000
MFS EMERGING MFS GROWTH GROWTH WITH COMPANIES INCOME ----------------- ------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 18,079,741 $ 33,389 -------------- ---------- Expenses (Note 3): Asset-based charges .................................. 13,004,790 89,777 Less: Reduction for expense limitation ................ - - -------------- ---------- Net expenses ......................................... 13,004,790 89,777 -------------- ---------- NET INVESTMENT INCOME (LOSS) ........................... 5,074,951 (56,388) REALIZED AND UNREALIZED GAIN (LOSS) ON -------------- ---------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 191,298,604 220,745 Realized gain distribution from The Trust ............ 39,356,013 - -------------- ---------- Net realized gain (loss) .............................. 230,654,617 220,745 Change in unrealized appreciation (depreciation) of investments .......................................... (473,708,932) (220,508) -------------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (243,054,315) 237 -------------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (237,979,364) $ (56,151) ============== ========== MORGAN STANLEY T. ROWE T. ROWE EMERGING PRICE PRICE MFS MARKETS EQUITY INTERNATIONAL RESEARCH EQUITY INCOME STOCK ---------------- ---------------- ------------- ---------------- INCOME AND EXPENSES: Investment Income (Note 2): Dividends from The Trust ............................. $ 1,839,900 $ 6,652,782 $ 3,501,069 $ 37,348 ------------- ------------- ----------- ------------- Expenses (Note 3): Asset-based charges .................................. 2,783,084 1,359,611 1,648,384 1,598,534 Less: Reduction for expense limitation ................ - - - - ------------- ------------- ----------- ------------- Net expenses ......................................... 2,783,084 1,359,611 1,648,384 1,598,534 ------------- ------------- ----------- ------------- NET INVESTMENT INCOME (LOSS) ........................... (943,184) 5,293,171 1,852,685 (1,561,186) REALIZED AND UNREALIZED GAIN (LOSS) ON ------------- ------------- ----------- ------------- INVESTMENTS (Note 2): Realized gain (loss) on investments .................. 20,339,519 (33,172,267) 688,167 5,095,819 Realized gain distribution from The Trust ............ 17,460,767 2,298,224 6,112,558 9,382,758 ------------- ------------- ----------- ------------- Net realized gain (loss) .............................. 37,800,286 (30,874,043) 6,800,725 14,478,577 Change in unrealized appreciation (depreciation) of investments .......................................... (54,772,587) (23,721,463) 2,895,523 (37,422,909) ------------- ------------- ----------- ------------- NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS ........................................... (16,972,301) (54,595,506) 9,696,248 (22,944,332) ------------- ------------- ----------- ------------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS (Note 2) .............................. $ (17,915,485) $ (49,302,335) $11,548,933 $ (24,505,518) ============= ============= =========== =============
------- (a) Commenced operations on May 2, 2000. (b) Commenced operations on September 5, 2000. See Notes to Financial Statements. FSA-14 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS FOR THE YEARS ENDED DECEMBER 31,
ALLIANCE COMMON STOCK ------------------------------------- 2000 1999 ------------------- ----------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (58,158,989) $ (63,829,473) Net realized gain (loss) on investments ................... 1,913,283,513 1,567,459,196 Change in unrealized appreciation (depreciation) of investments .............................................. (3,236,756,480) 320,673,163 ----------------- -------------- Net increase (decrease) in net assets from operations ..... (1,381,631,956) 1,824,302,886 ----------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 1,280,547,300 559,831,359 Transfers from other Funds and Guaranteed Interest Account ................................................. 77,397,662 1,373,905,485 ----------------- -------------- Total ................................................... 1,357,944,962 1,933,736,844 ----------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 818,989,610 645,258,965 Transfers to other Funds and Guaranteed Interest Account ................................................. 1,012,087,360 1,305,180,800 Withdrawal and administrative charges .................... 11,461,337 7,166,669 ----------------- -------------- Total ................................................... 1,842,538,307 1,957,606,434 ----------------- -------------- Net increase (decrease) in net assets from Contractowners transactions .............................. (484,593,345) (23,869,590) ----------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (6,787,764) (3,359,970) ----------------- -------------- INCREASE (DECREASE) IN NET ASSETS .......................... (1,873,013,064) 1,797,073,326 NET ASSETS - BEGINNING OF PERIOD ........................... 9,526,988,852 7,729,915,526 ----------------- -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $ 7,653,975,788 $9,526,988,852 ================= ============== ALLIANCE CONSERVATIVE INVESTORS ALLIANCE GLOBAL ------------------------------- ----------------------------------- 2000 1999 2000 1999 --------------- --------------- ----------------- ----------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 3,848,504 $ 2,948,749 $ (12,017,642) $ (10,195,721) Net realized gain (loss) on investments ................... 6,975,252 7,523,816 256,175,586 152,370,377 Change in unrealized appreciation (depreciation) of investments .............................................. (7,697,466) 689,307 (452,443,695) 128,133,406 ------------ ------------ -------------- -------------- Net increase (decrease) in net assets from operations ..... 3,126,290 11,161,872 (208,285,752) 270,308,062 ------------ ------------ -------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 38,069,938 19,554,473 916,628,120 75,156,941 Transfers from other Funds and Guaranteed Interest Account ................................................. 1,127,838 18,725,190 13,493,779 328,119,254 ------------ ------------ -------------- -------------- Total ................................................... 39,197,776 38,279,663 930,121,899 403,276,195 ------------ ------------ -------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 15,941,151 12,359,171 99,800,944 66,837,255 Transfers to other Funds and Guaranteed Interest Account ................................................. 18,209,290 14,458,723 771,118,662 320,264,708 Withdrawal and administrative charges .................... 230,735 126,838 1,620,201 875,060 ------------ ------------ -------------- -------------- Total ................................................... 34,381,176 26,944,732 872,539,807 387,977,023 ------------ ------------ -------------- -------------- Net increase (decrease) in net assets from Contractowners transactions .............................. 4,816,600 11,334,931 57,582,092 15,299,172 ------------ ------------ -------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (230,896) (56,486) (159,037) (355,951) ------------ ------------ -------------- -------------- INCREASE (DECREASE) IN NET ASSETS .......................... 7,711,994 22,440,317 (150,862,696) 285,251,283 NET ASSETS - BEGINNING OF PERIOD ........................... 142,509,019 120,068,702 1,012,409,729 727,158,446 ------------ ------------ -------------- -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $150,221,013 $142,509,019 $ 861,547,033 $1,012,409,729 ============ ============ ============== ============== ALLIANCE GROWTH AND INCOME ----------------------------------- 2000 1999 ------------------ ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (3,956,297) $ (7,774,963) Net realized gain (loss) on investments ................... 171,627,981 84,313,836 Change in unrealized appreciation (depreciation) of investments .............................................. (100,366,232) 39,845,140 -------------- ------------ Net increase (decrease) in net assets from operations ..... 67,305,452 116,384,013 -------------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 463,854,905 123,351,766 Transfers from other Funds and Guaranteed Interest Account ................................................. 12,319,021 190,419,567 -------------- ------------ Total ................................................... 476,173,926 313,771,333 -------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 87,172,820 54,339,299 Transfers to other Funds and Guaranteed Interest Account ................................................. 284,016,801 103,291,011 Withdrawal and administrative charges .................... 1,545,294 742,582 -------------- ------------ Total ................................................... 372,734,915 158,372,892 -------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. 103,439,011 155,398,441 -------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (162,670) (794,427) -------------- ------------ INCREASE (DECREASE) IN NET ASSETS .......................... 170,581,793 270,988,027 NET ASSETS - BEGINNING OF PERIOD ........................... 870,753,202 599,765,175 -------------- ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $1,041,334,995 $870,753,202 ============== ============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-15 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
ALLIANCE GROWTH INVESTORS ------------------------------------ 2000 1999 ----------------- ------------------ INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 5,017,979 $ 2,886,055 Net realized gain (loss) on investments ................... 89,681,641 107,166,086 Change in unrealized appreciation (depreciation) of investments .............................................. (185,230,420) 106,086,756 -------------- -------------- Net increase (decrease) in net assets from operations ..... (90,530,800) 216,138,897 -------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 213,231,620 96,197,073 Transfers from other Funds and Guaranteed Interest Account ................................................. 8,139,019 116,747,082 -------------- -------------- Total ................................................... 221,370,639 212,944,155 -------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 105,175,311 72,680,626 Transfers to other Funds and Guaranteed Interest Account ................................................. 71,173,102 96,645,261 Withdrawal and administrative charges .................... 1,780,205 1,067,645 -------------- -------------- Total ................................................... 178,128,618 170,393,532 -------------- -------------- Net Increase (Decrease) in Net Assets From Contractowners Transactions .............................. 43,242,021 42,550,623 -------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 217,342 (781,556) -------------- -------------- INCREASE (DECREASE) IN NET ASSETS .......................... (47,071,437) 257,907,964 NET ASSETS - BEGINNING OF PERIOD ........................... 1,100,813,256 842,905,292 -------------- -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $1,053,741,819 $1,100,813,256 ============== ============== ALLIANCE INTERMEDIATE ALLIANCE HIGH YIELD GOVERNMENT SECURITIES --------------------------------- ------------------------------- 2000 1999 2000 1999 ---------------- ---------------- --------------- --------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 12,238,679 $ 16,622,706 $ 2,382,470 $ 2,186,819 Net realized gain (loss) on investments ................... (17,865,281) (8,256,252) 242,764 302,141 Change in unrealized appreciation (depreciation) of investments .............................................. (8,293,826) (16,895,279) 1,190,732 (3,147,010) ------------- ------------- ------------ ------------ Net increase (decrease) in net assets from operations ..... (13,920,428) (8,528,825) 3,815,966 (658,050) ------------- ------------- ------------ ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 30,203,612 26,936,544 22,467,689 10,803,619 Transfers from other Funds and Guaranteed Interest Account ................................................. 897,984 30,740,677 1,236,026 17,510,838 ------------- ------------- ------------ ------------ Total ................................................... 31,101,596 57,677,221 23,703,715 28,314,457 ------------- ------------- ------------ ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 18,339,792 18,107,373 7,382,758 7,077,940 Transfers to other Funds and Guaranteed Interest Account ................................................. 39,165,806 66,186,094 24,169,892 16,376,682 Withdrawal and administrative charges .................... 398,254 262,567 116,711 61,594 ------------- ------------- ------------ ------------ Total ................................................... 57,903,852 84,556,034 31,669,361 23,516,216 ------------- ------------- ------------ ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. (26,802,256) (26,878,813) (7,965,646) 4,798,241 ------------- ------------- ------------ ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 27,637 (118,422) 30,304 (90,814) ------------- ------------- ------------ ------------ INCREASE (DECREASE) IN NET ASSETS .......................... (40,695,047) (35,526,060) (4,119,376) 4,049,377 NET ASSETS - BEGINNING OF PERIOD ........................... 162,864,200 198,390,260 57,902,717 53,853,340 ------------- ------------- ------------ ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $ 122,169,153 $ 162,864,200 $ 53,783,341 $ 57,902,717 ============= ============= ============ ============ ALLIANCE INTERNATIONAL ---------------------------------- 2000 1999 ----------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (1,600,508) $ (1,860,758) Net realized gain (loss) on investments ................... (4,388,928) 34,071,789 Change in unrealized appreciation (depreciation) of investments .............................................. (32,056,358) 18,061,228 --------------- ------------ Net increase (decrease) in net assets from operations ..... (38,045,794) 50,272,259 --------------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 1,213,680,312 21,074,414 Transfers from other Funds and Guaranteed Interest Account ................................................. 7,218,818 648,133,522 --------------- ------------ Total ................................................... 1,220,899,130 669,207,936 --------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 15,756,335 11,095,235 Transfers to other Funds and Guaranteed Interest Account ................................................. 1,191,195,524 667,775,669 Withdrawal and administrative charges .................... 313,010 186,358 --------------- ------------ Total ................................................... 1,207,264,869 679,057,262 --------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. 13,634,261 (9,849,326) --------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 54,910 115,663 --------------- ------------ INCREASE (DECREASE) IN NET ASSETS .......................... (24,356,623) 40,538,596 NET ASSETS - BEGINNING OF PERIOD ........................... 170,753,625 130,215,029 --------------- ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $ 146,397,002 $170,753,625 =============== ============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-16 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
ALLIANCE ALLIANCE MONEY MARKET QUALITY BOND ------------------------------- ------------------------------- 2000 1999 2000 1999 --------------- --------------- --------------- --------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ 6,113,305 $ 4,756,137 $ 4,359,618 $ 3,379,691 Net realized gain (loss) on investments ............... 3,055,487 1,321,607 (316,765) 510,147 Change in unrealized appreciation (depreciation) of investments .......................................... (1,973,129) (1,138,368) 4,142,328 (6,837,979) ------------- ------------ ------------ ------------ Net increase (decrease) in net assets from operations . 7,195,662 4,939,376 8,185,181 (2,948,141) ------------- ------------ ------------ ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 223,923,330 72,843,109 38,644,398 17,826,110 Transfers from other Funds and Guaranteed Interest Account ............................................. 48,568,489 151,517,985 1,575,848 23,994,287 ------------- ------------ ------------ ------------ Total ............................................... 272,491,819 224,361,094 40,220,246 41,820,397 ------------- ------------ ------------ ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 35,575,704 32,264,005 10,370,595 8,423,954 Transfers to other Funds and Guaranteed Interest Account ............................................. 247,537,402 161,836,076 32,465,101 25,178,431 Withdrawal and administrative charges ................ 407,646 265,560 162,011 69,431 ------------- ------------ ------------ ------------ Total ............................................... 283,520,752 194,365,641 42,997,707 33,671,816 ------------- ------------ ------------ ------------ Net increase (decrease) in net assets from Contractowners transactions .......................... (11,028,933) 29,995,453 (2,777,461) 8,148,581 ------------- ------------ ------------ ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. (765,124) 285,634 (191,029) 117,914 ------------- ------------ ------------ ------------ INCREASE (DECREASE) IN NET ASSETS ...................... (4,598,395) 35,220,463 5,216,691 5,318,354 NET ASSETS - BEGINNING OF PERIOD ....................... 161,306,580 126,086,117 87,230,714 81,912,360 ------------- ------------ ------------ ------------ NET ASSETS - END OF PERIOD (Note 1) .................... $ 156,708,185 $161,306,580 $ 92,447,405 $ 87,230,714 ============= ============ ============ ============ ALLIANCE CALVERT SMALL CAP GROWTH SOCIALLY RESPONSIBLE (A) ---------------------------------- --------------------------- 2000 1999 2000 1999 ----------------- ---------------- ------------- ------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ (3,750,852) $ (1,657,966) $ 194,014 $ (852) Net realized gain (loss) on investments ............... 108,561,718 20,167,565 112,362 15,842 Change in unrealized appreciation (depreciation) of investments .......................................... (94,632,594) 14,165,644 (426,892) 172,185 --------------- ------------- ---------- ---------- Net increase (decrease) in net assets from operations . 10,178,272 32,675,243 (120,515) 187,175 --------------- ------------- ---------- ---------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 992,253,235 19,245,738 3,344,568 50,075 Transfers from other Funds and Guaranteed Interest Account ............................................. 11,852,937 356,043,363 12,824 454,057 --------------- ------------- ---------- ---------- Total ............................................... 1,004,106,172 375,289,101 3,357,392 504,132 --------------- ------------- ---------- ---------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 18,861,682 8,512,986 18,448 - Transfers to other Funds and Guaranteed Interest Account ............................................. 792,368,604 381,010,271 2,151,712 72,191 Withdrawal and administrative charges ................ 431,206 181,537 1,644 54 --------------- ------------- ---------- ---------- Total ............................................... 811,661,492 389,704,794 2,171,804 72,245 --------------- ------------- ---------- ---------- Net increase (decrease) in net assets from Contractowners transactions .......................... 192,444,679 (14,415,693) 1,185,588 431,887 --------------- ------------- ---------- ---------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. (1,213,828) 400,260 199 2,000,073 --------------- ------------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS ...................... 201,409,124 18,659,810 1,065,272 2,619,135 NET ASSETS - BEGINNING OF PERIOD ....................... 157,976,940 139,317,130 2,619,135 - --------------- ------------- ---------- ---------- NET ASSETS - END OF PERIOD (Note 1) .................... $ 359,386,064 $ 157,976,940 $3,684,407 $2,619,135 =============== ============= ========== ==========
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-17 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
CAPITAL GUARDIAN CAPITAL GUARDIAN INTERNATIONAL (A) RESEARCH (A) ------------------------ --------------------------- 2000 1999 2000 1999 ------------ ----------- ------------- ------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (707) $ (75) $ 30,089 $ (96) Net realized gain (loss) on investments ................... 576 5 159,917 19,191 Change in unrealized appreciation (depreciation) of investments .............................................. (19,538) 7,708 (103,622) 29,283 --------- ------- ----------- ----------- Net increase (decrease) in net assets from operations ..... (19,669) 7,638 86,384 48,378 --------- ------- ----------- ----------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 12,374 246 14,929,226 372,085 Transfers from other Funds and Guaranteed Interest Account ................................................. 74,647 51,521 143,116 840,605 --------- ------- ----------- ----------- Total ................................................... 87,021 51,767 15,072,342 1,212,690 --------- ------- ----------- ----------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 2,736 - 140,260 902 Transfers to other Funds and Guaranteed Interest Account ................................................. 22,919 - 9,538,604 351,450 Withdrawal and administrative charges .................... 108 - 1,794 1 --------- ------- ----------- ----------- Total ................................................... 25,762 - 9,680,658 352,353 --------- ------- ----------- ----------- Net increase (decrease) in net assets from Contractowners transactions .............................. 61,258 51,767 5,391,684 860,337 --------- ------- ----------- ----------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (23,771) 25,010 5,079 25,206 --------- ------- ----------- ----------- INCREASE (DECREASE) IN NET ASSETS .......................... 17,818 84,415 5,483,147 933,921 NET ASSETS - BEGINNING OF PERIOD ........................... 84,415 - 933,921 - --------- ------- ----------- ----------- NET ASSETS - END OF PERIOD (Note 1) ........................ $ 102,233 $84,415 $ 6,417,068 $ 933,921 ========= ======= =========== =========== CAPITAL GUARDIAN U.S. EQUITY (A) EQ/AGGRESSIVE STOCK --------------------------- ----------------------------------- 2000 1999 2000 1999 ------------- ------------- ----------------- ----------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 38,017 $ (413) $ (20,624,385) $ (27,366,731) Net realized gain (loss) on investments ................... 159,231 1,378 161,232,145 119,929,575 Change in unrealized appreciation (depreciation) of investments .............................................. (105,299) 74,129 (531,345,040) 376,094,230 ---------- ---------- -------------- -------------- Net increase (decrease) in net assets from operations ..... 91,949 75,094 (390,737,280) 468,657,074 ---------- ---------- -------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 8,068,142 386,988 664,710,988 211,928,010 Transfers from other Funds and Guaranteed Interest Account ................................................. 4,995 1,098,135 44,890,186 690,307,548 ---------- ---------- -------------- -------------- Total ................................................... 8,073,137 1,485,123 709,601,174 902,235,558 ---------- ---------- -------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 219,587 17,579 287,111,131 293,091,030 Transfers to other Funds and Guaranteed Interest Account ................................................. 4,377,681 133,777 824,120,802 1,138,246,663 Withdrawal and administrative charges .................... 6,627 13 5,109,096 4,048,698 ---------- ---------- -------------- -------------- Total ................................................... 4,603,895 151,369 1,116,341,029 1,435,386,391 ---------- ---------- -------------- -------------- Net increase (decrease) in net assets from Contractowners transactions .............................. 3,469,242 1,333,754 (406,739,855) (533,150,833) ---------- ---------- -------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 8,338 25,247 (2,766,376) (1,296,959) ---------- ---------- -------------- -------------- INCREASE (DECREASE) IN NET ASSETS .......................... 3,569,529 1,434,095 (800,243,511) (65,790,718) NET ASSETS - BEGINNING OF PERIOD ........................... 1,434,095 - 3,103,378,178 3,169,168,896 ---------- ---------- -------------- -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $5,003,624 $1,434,095 $2,303,134,667 $3,103,378,178 ========== ========== ============== ==============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-18 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
EQ/ALLIANCE EQ/ALLIANCE PREMIER GROWTH (A) TECHNOLOGY (B) --------------------------------- ---------------- 2000 1999 2000 ---------------- ----- ---------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ (1,356,619) $ (167,569) $ (541,410) Net realized gain (loss) on investments ............... 5,620,276 938,447 (6,101,686) Change in unrealized appreciation (depreciation) of investments .......................................... (73,936,823) 10,413,030 (28,855,317) ------------- ------------ ------------- Net increase (decrease) in net assets from operations . (69,673,166) 11,183,908 (35,498,413) ------------- ------------ ------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 338,423,561 19,961,106 197,822,034 Transfers from other Funds and Guaranteed Interest Account ............................................. 5,785,531 94,910,089 2,348,744 ------------- ------------ ------------- Total ............................................... 344,209,092 114,871,195 200,170,778 ------------- ------------ ------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 15,740,651 460,182 1,936,444 Transfers to other Funds and Guaranteed Interest Account ............................................. 65,156,445 13,207,345 59,632,730 Withdrawal and administrative charges ................ 332,368 3,650 40,307 ------------- ------------ ------------- Total ............................................... 81,229,464 13,671,177 61,609,481 ------------- ------------ ------------- Net increase (decrease) in net assets from Contractowners transactions .......................... 262,979,628 101,200,018 138,561,297 ------------- ------------ ------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. (42,357) 38,854 437,023 ------------- ------------ ------------- INCREASE (DECREASE) IN NET ASSETS ...................... 193,264,105 112,422,780 103,499,907 NET ASSETS - BEGINNING OF PERIOD ....................... 112,422,780 - - ------------- ------------ ------------- NET ASSETS - END OF PERIOD (Note 1) .................... $ 305,686,885 $112,422,780 $ 103,499,907 ============= ============ ============= EQ/AXP EQ/AXP STRATEGY NEW DIMENSIONS (C) AGGRESSIVE (C) -------------------- ----------------- 2000 2000 -------------------- ----------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ (604) $ (922) Net realized gain (loss) on investments ............... (15,727) (442,565) Change in unrealized appreciation (depreciation) of investments .......................................... (218,229) (285,976) ---------- ---------- Net increase (decrease) in net assets from operations . (234,560) (729,462) ---------- ---------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 4,401,221 9,574,592 Transfers from other Funds and Guaranteed Interest Account ............................................. - - ---------- ---------- Total ............................................... 4,401,221 9,574,592 ---------- ---------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 9,559 14,978 Transfers to other Funds and Guaranteed Interest Account ............................................. 494,657 5,189,067 Withdrawal and administrative charges ................ 127 124 ---------- ---------- Total ............................................... 504,343 5,204,169 ---------- ---------- Net increase (decrease) in net assets from Contractowners transactions .......................... 3,896,878 4,370,423 ---------- ---------- Net increase (decrease) in amount retained by Equitable Life in Separate Account A (Note 3) .................. 500,258 500,133 ---------- ---------- Increase (Decrease) in Net Assets ...................... 4,162,576 4,141,093 Net Assets - Beginning of Period ....................... - - ---------- ---------- NET ASSETS - End of Period (Note 1) .................... $4,162,576 $4,141,093 ========== ========== EQ/BALANCED ------------------------------------ 2000 1999 ----------------- ------------------ INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ 27,233,011 $ 20,181,951 Net realized gain (loss) on investments ............... 235,919,936 147,624,569 Change in unrealized appreciation (depreciation) of investments .......................................... (295,542,367) 39,004,307 -------------- -------------- Net increase (decrease) in net assets from operations . (32,389,420) 206,810,827 -------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 154,129,837 80,322,283 Transfers from other Funds and Guaranteed Interest Account ............................................. 5,430,945 117,629,758 -------------- -------------- Total ............................................... 159,560,782 197,952,041 -------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 148,935,184 131,721,182 Transfers to other Funds and Guaranteed Interest Account ............................................. 124,362,945 146,487,798 Withdrawal and administrative charges ................ 1,657,899 1,231,936 -------------- -------------- Total ............................................... 274,956,029 279,440,916 -------------- -------------- Net increase (decrease) in net assets from Contractowners transactions .......................... (115,395,247) (81,488,875) -------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. (714,552) (358,009) -------------- -------------- INCREASE (DECREASE) IN NET ASSETS ...................... (148,499,218) 124,963,943 NET ASSETS - BEGINNING OF PERIOD ....................... 1,447,885,763 1,322,921,820 -------------- -------------- NET ASSETS - END OF PERIOD (Note 1) .................... $1,299,386,545 $1,447,885,763 ============== ==============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-19 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
EQ EQUITY 500 INDEX EQ/EVERGREEN (A) ----------------------------------- --------------------------- 2000 1999 2000 1999 ----------------- ----------------- ------------- ------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (10,659,870) $ (4,065,878) $ (16,652) $ 1,510 Net realized gain (loss) on investments ................... 278,060,096 133,882,444 (8,863) 21,001 Change in unrealized appreciation (depreciation) of investments .............................................. (439,580,620) 118,641,942 (246,813) 16,534 -------------- -------------- ---------- ----------- Net increase (decrease) in net assets from operations ..... (172,180,394) 248,458,508 (272,328) 39,045 -------------- -------------- ---------- ----------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 926,074,448 207,110,009 2,547,837 159,057 Transfers from other Funds and Guaranteed Interest Account ................................................. 35,515,280 843,228,288 28,380 852,104 -------------- -------------- ---------- ----------- Total ................................................... 961,589,728 1,050,338,297 2,576,217 1,011,161 -------------- -------------- ---------- ----------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 139,847,438 110,899,865 110,358 8,783 Transfers to other Funds and Guaranteed Interest Account ................................................. 879,420,701 685,337,381 664,713 464,579 Withdrawal and administrative charges .................... 2,808,620 1,410,369 1,524 2 -------------- -------------- ---------- ----------- Total ................................................... 1,022,076,759 797,647,615 776,595 473,364 -------------- -------------- ---------- ----------- Net increase (decrease) in net assets from Contractowners transactions .............................. (60,487,031) 252,690,682 1,799,622 537,797 -------------- -------------- ---------- ----------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (197,566) (1,458,118) 2,071 24,886 -------------- -------------- ---------- ----------- INCREASE (DECREASE) IN NET ASSETS .......................... (232,864,991) 499,691,072 1,529,365 601,728 NET ASSETS - BEGINNING OF PERIOD ........................... 1,652,694,426 1,153,003,354 601,728 - -------------- -------------- ---------- ----------- NET ASSETS - END OF PERIOD (Note 1) ........................ $1,419,829,435 $1,652,694,426 $2,131,093 $ 601,728 ============== ============== ========== =========== EQ/EVERGREEN EQ/JANUS LARGE FOUNDATION (A) CAP GROWTH (C) ------------------------- ---------------- 2000 1999 2000 -------------- ---------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 15,023 $ 914 $ (8,913) Net realized gain (loss) on investments ................... (17,757) 63 (73,085) Change in unrealized appreciation (depreciation) of investments .............................................. (99,586) 4,261 (1,083,470) ---------- -------- ------------ Net increase (decrease) in net assets from operations ..... (102,320) 5,238 (1,165,468) ---------- -------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 3,956,377 14,367 18,672,355 Transfers from other Funds and Guaranteed Interest Account ................................................. 13,000 122,112 57,484 ---------- -------- ------------ Total ................................................... 3,969,377 136,479 18,729,839 ---------- -------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 88,134 1,952 173,839 Transfers to other Funds and Guaranteed Interest Account ................................................. 1,819,845 11,137 1,367,013 Withdrawal and administrative charges .................... 383 1 1,532 ---------- -------- ------------ Total ................................................... 1,908,362 13,090 1,542,384 ---------- -------- ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. 2,061,015 123,389 17,187,455 ---------- -------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 1,429 25,027 501,546 ---------- -------- ------------ INCREASE (DECREASE) IN NET ASSETS .......................... 1,960,124 153,654 16,523,533 NET ASSETS - BEGINNING OF PERIOD ........................... 153,654 - - ---------- -------- ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $2,113,778 $153,654 $ 16,523,533 ========== ======== ============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-20 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
EQ/PUTNAM EQ/PUTNAM BALANCED GROWTH & INCOME VALUE ------------------------------- --------------------------------- 2000 1999 2000 1999 ---------------- -------------- ---------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 694,310 $ 600,374 $ (258,002) $ (56,141) Net realized gain (loss) on investments ................... (1,210,350) 2,530,297 (1,936,499) 8,563,322 Change in unrealized appreciation (depreciation) of investments .............................................. 3,211,077 (3,992,030) 5,323,529 (11,414,919) ------------ ------------ -------------- -------------- Net increase (decrease) in net assets from operations ..... 2,695,037 (861,359) 3,129,028 (2,907,738) ------------ ------------ -------------- -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 37,530,497 8,724,210 22,732,727 15,111,566 Transfers from other Funds and Guaranteed Interest Account ................................................. 473,972 13,434,909 655,941 21,929,146 ------------ ------------ -------------- -------------- Total ................................................... 38,004,469 22,159,119 23,388,668 37,040,712 ------------ ------------ -------------- -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 3,905,146 2,214,146 8,078,434 5,975,591 Transfers to other Funds and Guaranteed Interest Account ................................................. 40,289,968 9,911,791 27,788,273 19,982,421 Withdrawal and administrative charges .................... 81,894 33,963 173,594 95,368 ------------ ------------ -------------- -------------- Total ................................................... 44,277,008 12,159,900 36,040,301 26,053,380 ------------ ------------ -------------- -------------- Net increase (decrease) in net assets from Contractowners transactions .............................. (6,272,539) 9,999,219 (12,651,633) 10,987,332 ------------ ------------ -------------- -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (6,069) (80,011) (11,203) (173,782) ------------ ------------ -------------- -------------- INCREASE (DECREASE) IN NET ASSETS .......................... (3,583,571) 9,057,849 (9,533,808) 7,905,812 NET ASSETS - BEGINNING OF PERIOD ........................... 43,845,686 34,787,837 82,894,604 74,988,792 ------------ ------------ -------------- -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $ 40,262,115 $ 43,845,686 $ 73,360,796 $ 82,894,604 ============ ============ ============== ============== EQ/PUTNAM EQ/PUTNAM INTERNATIONAL EQUITY INVESTORS GROWTH (A) ------------------------- ------------------------ 2000 1999 2000 1999 ------------- ----------- ----------- ------------ INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 98,563 $ 2,484 $ 1,101 $ (121) Net realized gain (loss) on investments ................... 132,590 8,208 (7,228) 1,812 Change in unrealized appreciation (depreciation) of investments .............................................. (403,258) 14,312 (88,099) 6,665 ---------- -------- --------- -------- Net increase (decrease) in net assets from operations ..... (172,105) 25,004 (94,226) 8,356 ---------- -------- --------- -------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 349,974 21,152 187,275 4,282 Transfers from other Funds and Guaranteed Interest Account ................................................. 1,161,348 175,825 318,420 106,618 ---------- -------- --------- -------- Total ................................................... 1,511,322 196,977 505,695 110,900 ---------- -------- --------- -------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 88,642 - 16,542 - Transfers to other Funds and Guaranteed Interest Account ................................................. 199,405 - 90,326 - Withdrawal and administrative charges .................... 578 - 272 - ---------- -------- --------- -------- Total ................................................... 288,625 - 107,140 - ---------- -------- --------- -------- Net increase (decrease) in net assets from Contractowners transactions .............................. 1,222,696 196,977 398,555 110,900 ---------- -------- --------- -------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (29) 25,033 (19) 25,019 ---------- -------- --------- -------- INCREASE (DECREASE) IN NET ASSETS .......................... 1,050,563 247,014 304,310 144,275 NET ASSETS - BEGINNING OF PERIOD ........................... 247,014 - 144,275 - ---------- -------- --------- -------- NET ASSETS - END OF PERIOD (Note 1) ........................ $1,297,577 $247,014 $ 448,585 $144,275 ========== ======== ========= ========
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-21 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
FI SMALL/MID FI MID CAP (C) CAP VALUE ---------------- ------------------------------- 2000 2000 1999 ---------------- -------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 432 $ (207,388) $ (910,684) Net realized gain (loss) on investments ................... 5,829 (3,851,966) (7,130,907) Change in unrealized appreciation (depreciation) of investments .............................................. 290,277 6,102,650 7,537,570 ----------- ------------ -------------- Net increase (decrease) in net assets from operations ..... 296,538 2,043,295 (504,021) ----------- ------------ -------------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 11,092,595 28,432,248 10,670,794 Transfers from other Funds and Guaranteed Interest Account ................................................. 66,726 739,364 18,055,879 ----------- ------------ -------------- Total ................................................... 11,159,321 29,171,612 28,726,673 ----------- ------------ -------------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 133,024 5,762,407 4,921,343 Transfers to other Funds and Guaranteed Interest Account ................................................. 1,047,121 29,497,451 36,061,195 Withdrawal and administrative charges .................... 3,688 167,152 117,502 ----------- ------------ -------------- Total ................................................... 1,183,833 35,427,010 41,100,040 ----------- ------------ -------------- Net increase (decrease) in net assets from Contractowners transactions .............................. 9,975,488 (6,255,398) (12,373,367) ----------- ------------ -------------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... 501,381 (14,770) (65,352) ----------- ------------ -------------- INCREASE (DECREASE) IN NET ASSETS .......................... 10,773,408 (4,226,873) (12,942,740) NET ASSETS - BEGINNING OF PERIOD ........................... - 77,388,798 90,331,538 ----------- ------------ -------------- NET ASSETS - END OF PERIOD (Note 1) ........................ $10,773,408 $ 73,161,925 $ 77,388,798 =========== ============ ============== LAZARD LARGE LAZARD SMALL CAP VALUE (A) CAP VALUE (A) --------------- ---------------------- 2000 2000 1999 --------------- ----------- ---------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ (77) $ 2,032 $ 32 Net realized gain (loss) on investments ................... (22) 1,160 (21) Change in unrealized appreciation (depreciation) of investments .............................................. 687 7,033 466 ------- -------- ------- Net increase (decrease) in net assets from operations ..... 588 10,225 477 ------- -------- ------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 11,693 9,912 650 Transfers from other Funds and Guaranteed Interest Account ................................................. 72,452 98,732 24,205 ------- -------- ------- Total ................................................... 84,145 108,644 24,855 ------- -------- ------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 351 10,025 - Transfers to other Funds and Guaranteed Interest Account ................................................. - 4,863 10,014 Withdrawal and administrative charges .................... - 270 - ------- -------- ------- Total ................................................... 351 15,158 10,014 ------- -------- ------- Net increase (decrease) in net assets from Contractowners transactions .............................. 83,794 93,486 14,841 ------- -------- ------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... - 93 12 ------- -------- ------- INCREASE (DECREASE) IN NET ASSETS .......................... 84,382 103,803 15,330 NET ASSETS - BEGINNING OF PERIOD ........................... - 15,330 - ------- -------- ------- NET ASSETS - END OF PERIOD (Note 1) ........................ $84,382 $119,133 $15,330 ======= ======== ======= MERCURY BASIC VALUE EQUITY ------------------------------ 2000 1999 ------------ ----------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 4,193,733 $ 115,561 Net realized gain (loss) on investments ................... 9,744,774 10,181,670 Change in unrealized appreciation (depreciation) of investments .............................................. (3,226,719) (127,488) ------------ ----------- Net increase (decrease) in net assets from operations ..... 10,711,788 10,169,743 ------------ ----------- FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 50,574,092 18,954,806 Transfers from other Funds and Guaranteed Interest Account ................................................. 1,577,554 51,439,310 ------------ ----------- Total ................................................... 52,151,646 70,394,116 ------------ ----------- Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 7,505,498 4,950,153 Transfers to other Funds and Guaranteed Interest Account ................................................. 34,794,106 36,220,977 Withdrawal and administrative charges .................... 198,552 75,889 ------------ ----------- Total ................................................... 42,498,156 41,247,019 ------------ ----------- Net increase (decrease) in net assets from Contractowners transactions .............................. 9,653,490 29,147,097 ------------ ----------- NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (13,123) (77,654) ------------ ----------- INCREASE (DECREASE) IN NET ASSETS .......................... 20,352,155 39,239,186 NET ASSETS - BEGINNING OF PERIOD ........................... 96,711,501 57,472,315 ------------ ----------- NET ASSETS - END OF PERIOD (Note 1) ........................ $117,063,656 $96,711,501 ============ ===========
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-22 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31,
MERCURY MFS EMERGING WORLD STRATEGY GROWTH COMPANIES ------------------------------ ---------------------------------- 2000 1999 2000 1999 --------------- -------------- ----------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ 187,024 $ (34,878) $ 5,074,951 $ (4,720,964) Net realized gain (loss) on investments ............... 1,268,304 1,544,420 230,654,617 73,697,445 Change in unrealized appreciation (depreciation) of investments .......................................... (3,246,691) 669,904 (473,708,932) 189,033,575 ------------ ----------- --------------- ------------ Net increase (decrease) in net assets from operations . (1,791,363) 2,179,446 (237,979,364) 258,010,056 ------------ ----------- --------------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 22,199,419 1,755,419 972,046,668 99,850,182 Transfers from other Funds and Guaranteed Interest Account ............................................. 61,056 17,812,153 24,772,132 412,004,872 ------------ ----------- --------------- ------------ Total ............................................... 22,260,475 19,567,572 996,818,800 511,855,054 ------------ ----------- --------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 1,119,612 615,160 64,807,634 24,089,810 Transfers to other Funds and Guaranteed Interest Account ............................................. 19,197,479 18,171,482 474,268,003 216,250,323 Withdrawal and administrative charges ................ 30,522 12,610 1,524,160 387,668 ------------ ----------- --------------- ------------ Total ............................................... 20,347,614 18,799,252 540,599,797 240,727,801 ------------ ----------- --------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .......................... 1,912,862 768,320 456,219,003 271,127,253 ------------ ----------- --------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. (1,783,198) (7,305) (741,137) (163,969) ------------ ----------- --------------- ------------ INCREASE (DECREASE) IN NET ASSETS ...................... (1,661,699) 2,940,461 217,498,502 528,973,340 NET ASSETS - BEGINNING OF PERIOD ....................... 13,982,709 11,042,248 706,225,918 177,252,578 ------------ ----------- --------------- ------------ NET ASSETS - END OF PERIOD (Note 1) .................... $ 12,321,010 $13,982,709 $ 923,724,420 $706,225,918 ============ =========== =============== ============ MFS GROWTH WITH INCOME (A) MFS RESEARCH ----------------------------- --------------------------------- 2000 1999 2000 1999 --------------- ------------- ---------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .......................... $ (56,388) $ 2,214 $ (943,185) $ (1,635,715) Net realized gain (loss) on investments ............... 220,745 (1,566) 37,800,286 16,934,213 Change in unrealized appreciation (depreciation) of investments .......................................... (220,508) 123,501 (54,772,587) 14,109,284 ----------- ---------- ------------- ------------ Net increase (decrease) in net assets from operations . (56,151) 124,149 (17,915,485) 29,407,782 ----------- ---------- ------------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ........................................ 11,570,353 891,850 150,701,714 30,557,735 Transfers from other Funds and Guaranteed Interest Account ............................................. 101,513 1,303,993 3,010,468 79,447,062 ----------- ---------- ------------- ------------ Total ............................................... 11,671,866 2,195,843 153,712,182 110,004,797 ----------- ---------- ------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ..... 190,539 15,682 15,137,810 7,842,822 Transfers to other Funds and Guaranteed Interest Account ............................................. 3,515,173 100,983 67,226,037 63,062,485 Withdrawal and administrative charges ................ 5,971 30 383,029 132,468 ----------- ---------- ------------- ------------ Total ............................................... 3,711,683 116,695 82,746,876 71,037,775 ----------- ---------- ------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .......................... 7,960,182 2,079,148 70,965,306 38,967,022 ----------- ---------- ------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) .................. 13,115 25,205 (24,559) (131,866) ----------- ---------- ------------- ------------ INCREASE (DECREASE) IN NET ASSETS ...................... 7,917,147 2,228,502 53,025,262 68,242,938 NET ASSETS - BEGINNING OF PERIOD ....................... 2,228,502 - 170,641,495 102,398,557 ----------- ---------- ------------- ------------ NET ASSETS - END OF PERIOD (Note 1) .................... $10,145,649 $2,228,502 $ 223,666,757 $170,641,495 =========== ========== ============= ============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-23 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A STATEMENTS OF CHANGES IN NET ASSETS (CONCLUDED) FOR THE YEARS ENDED DECEMBER 31,
MORGAN STANLEY EMERGING MARKETS EQUITY -------------------------------- 2000 1999 ---------------- --------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 5,293,171 $ (408,713) Net realized gain (loss) on investments ................... (30,874,043) 19,968,622 Change in unrealized appreciation (depreciation) of investments .............................................. (23,721,463) 7,484,816 -------------- ------------ Net increase (decrease) in net assets from operations ..... (49,302,335) 27,044,725 -------------- ------------ From Contractowners Transactions (Note 4): Contributions and Transfers: Contributions ............................................ 466,609,209 7,422,677 Transfers from other Funds and Guaranteed Interest Account ................................................. 4,434,761 256,457,729 -------------- ------------ Total ................................................... 471,043,970 263,880,406 -------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 8,283,128 2,295,400 Transfers to other Funds and Guaranteed Interest Account ................................................. 413,865,868 230,400,637 Withdrawal and administrative charges .................... 180,328 25,133 -------------- ------------ Total ................................................... 422,329,324 232,721,170 -------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. 48,714,646 31,159,236 -------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (287,987) (3,346,947) -------------- ------------ INCREASE (DECREASE) IN NET ASSETS .......................... (875,676) 54,857,014 NET ASSETS - BEGINNING OF PERIOD ........................... 70,941,248 16,084,234 -------------- ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $ 70,065,572 $ 70,941,248 ============== ============ T. ROWE PRICE T. ROWE PRICE EQUITY INCOME INTERNATIONAL STOCK -------------------------------- --------------------------------- 2000 1999 2000 1999 ---------------- --------------- --------------- ---------------- INCREASE (DECREASE) IN NET ASSETS: FROM OPERATIONS: Net investment income (loss) .............................. $ 1,852,685 $ 808,550 $ (1,561,186) $ (732,988) Net realized gain (loss) on investments ................... 6,800,725 10,372,141 14,478,577 15,564,826 Change in unrealized appreciation (depreciation) of investments .............................................. 2,895,523 (9,195,970) (37,422,909) 10,967,057 ------------- ------------ ------------- ------------ Net increase (decrease) in net assets from operations ..... 11,548,933 1,984,721 (24,505,518) 25,798,895 ------------- ------------ ------------- ------------ FROM CONTRACTOWNERS TRANSACTIONS (Note 4): Contributions and Transfers: Contributions ............................................ 48,009,490 22,420,408 258,946,846 15,381,272 Transfers from other Funds and Guaranteed Interest Account ................................................. 661,528 32,033,807 1,777,615 109,128,680 ------------- ------------ ------------- ------------ Total ................................................... 48,671,018 54,454,215 260,724,461 124,509,952 ------------- ------------ ------------- ------------ Payments, Transfers and Charges: Annuity payments, withdrawals and death benefits ......... 12,644,086 10,573,400 8,372,303 5,855,141 Transfers to other Funds and Guaranteed Interest Account ................................................. 65,621,784 38,746,496 228,741,123 105,733,445 Withdrawal and administrative charges .................... 251,386 143,698 205,493 94,699 ------------- ------------ ------------- ------------ Total ................................................... 78,517,256 49,463,594 237,318,919 111,683,285 ------------- ------------ ------------- ------------ Net increase (decrease) in net assets from Contractowners transactions .............................. (29,846,238) 4,990,621 23,405,542 12,826,667 ------------- ------------ ------------- ------------ NET INCREASE (DECREASE) IN AMOUNT RETAINED BY EQUITABLE LIFE IN SEPARATE ACCOUNT A (Note 3) ...................... (20,215) (117,973) (16,114) (21,952) ------------- ------------ ------------- ------------ INCREASE (DECREASE) IN NET ASSETS .......................... (18,317,520) 6,857,369 (1,116,090) 38,603,610 NET ASSETS - BEGINNING OF PERIOD ........................... 146,836,293 139,978,924 112,485,497 73,881,887 ------------- ------------ ------------- ------------ NET ASSETS - END OF PERIOD (Note 1) ........................ $ 128,518,773 $146,836,293 $ 111,369,407 $112,485,497 ============= ============ ============= ============
------- (a) Commenced operations on August 30, 1999. (b) Commenced operations on May 2, 2000. (c) Commenced operations on September 5, 2000. See Notes to Financial Statements FSA-24 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 1. General The Equitable Life Assurance Society of the United States (Equitable Life) Separate Account A (The Account) is organized as a unit investment trust, a type of investment company, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940. EQ Advisors Trust ("EQAT" or "Trust") commenced operations on May 1, 1997. For periods prior to October 18, 1999, the Alliance portfolios (including EQ/Aggressive, EQ/Balanced, and EQ/Equity 500 Index) were part of the Hudson River Trust. On October 18, 1999, these portfolios became corresponding portfolios of EQAT. EQAT is an open-end, diversified investment management company that sells shares of a portfolio ("Portfolio") of a mutual fund to separate accounts of insurance companies. Each Portfolio has separate investment objectives. These financial statements and notes are those of the Account. Equitable Life serves as investment manager of EQAT. As such Equitable Life oversees the activities of the investment advisors with respect to EQAT and is responsible for retaining or discontinuing the services of those advisors. Alliance Capital Management L.P. ("Alliance") serves as an investment adviser for the Alliance Portfolios (including EQ/Aggressive, EQ/Alliance Premier Growth, EQ/Alliance Technology, EQ/Equity 500 Index). Alliance is a limited partnership which is directly majority-owned by Equitable Life and AXA Financial, Inc. (parent to Equitable Life). AXA Advisors, LLC ("AXA Advisors"), the successor to EQ Financial Consultants, Inc., is an affiliate of Equitable Life, and a distributor and principal underwriter of the Contracts and the Account. AXA Advisors is registered with the SEC as a broker-dealer and is a member of the National Association of Securities Dealers, Inc. The Contracts are sold by financial professionals who are registered representatives of AXA Advisors and licensed insurance agents of AXA Network, LLC, its subsidiaries and AXA Network Insurance Agency of Texas, Inc. (affiliates of Equitable Life). AXA Advisors receives commissions and other service-related payments under its Distribution Agreement with Equitable Life and its Networking Agreement with AXA Network. The Account consists of 41 variable investment options: o Alliance Common Stock o Alliance Conservative Investors o Alliance Global o Alliance Growth and Income o Alliance Growth Investors o Alliance High Yield o Alliance Intermediate Government Securities o Alliance International o Alliance Money Market o Alliance Quality Bond o Alliance Small Cap Growth o Calvert Socially Responsible o Capital Guardian International o Capital Guardian Research o Capital Guardian U.S. Equity o EQ/Aggressive Stock(1) o EQ/Alliance Premier Growth o EQ/Alliance Technology o EQ/AXP New Dimensions o EQ/AXP Strategy Aggressive o EQ/Balanced(5) o EQ Equity 500 Index(2) o EQ/Evergreen o EQ/Evergreen Foundation o EQ/Janus Large Cap Growth o EQ/Putnam Balanced o EQ/Putnam Growth & Income Value o EQ/Putnam International Equity o EQ/Putnam Investors Growth o FI Mid Cap o FI Small/Mid Cap Value(3) o Lazard Large Cap Value o Lazard Small Cap Value o Mercury Basic Value Equity(4) o Mercury World Strategy(6) o MFS Emerging Growth Companies o MFS Growth with Income o MFS Research o Morgan Stanley Emerging Markets Equity o T. Rowe Price Equity Income o T. Rowe Price International Stock ---------- (1) Formerly known as Alliance Aggressive (2) Formerly known as Alliance Equity Index (3) Formerly known as Warburg Pincus Small Company Value (4) Formerly known as Merrill Lynch Basic Value Equity (5) Formerly known as Alliance Balanced (6) Formerly known as Merrill Lynch World Strategy FSA-25 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 1. General (Concluded) On October 6, 2000 Alliance Equity Index Portfolio acquired all the net assets of the BT Equity 500 Index Portfolio pursuant to a substitution transaction. The Alliance Equity Index Portfolio was renamed EQ Equity Index Portfolio. For accounting purposes, this transaction is treated as a merger. The BT Equity 500 Index Portfolio was not held by the Account before the substitution. As a result, there was no impact to the Account. The assets in each variable investment option are invested in Class IA and IB shares of a corresponding portfolio (Portfolio) of a mutual fund of EQAT. Class IA and IB shares are offered by EQAT at net asset value. Both classes of shares are subject to fees for investment management and advisory services and other Trust expenses. Class IA shares are not subject to distribution fees imposed pursuant to a distribution plan. Class IB shares are also subject to distribution fees imposed under a distribution plan (herein, the "Rule 12b-1 Plans") adopted pursuant to Rule 12b-1 under the 1940 Act, as amended. The Rule 12b-1 Plans provide that EQAT, on behalf of each Fund, may charge annually up to 0.25% of the average daily net assets of a variable investment option attributable to its Class IB shares in respect of activities primarily intended to result in the sale of the Class IB shares. These fees are reflected in the net asset value of the shares. The Account is used to fund benefits for variable annuities issued by Equitable Life including certain individual tax-favored variable annuity contracts (Old Contracts), individual non-qualified variable annuity contracts (EQUIPLAN Contracts), tax-favored and non-qualified certificates issued under group deferred variable annuity contracts and certain related individual contracts (EQUI-VEST Contracts), group deferred variable annuity contracts used to fund tax-qualified defined contribution plans (Momentum Contracts) and group variable annuity contracts used as a funding vehicle for employers who sponsor qualified defined contribution plans (Momentum Plus). All of these contracts and certificates are collectively referred to as the Contracts. The net assets of the Account are not chargeable with liabilities arising out of any other business Equitable Life may conduct. The excess of assets over reserves and other contract liabilities, if any, in the Account may be transferred to Equitable Life's General Account. Equitable Life's General Account is subject to creditor rights. Receivable/payable for policy-related transactions represents amounts receivable/payable to the General Account predominately related to policy-related transactions, premiums, surrenders and death benefits. 2. Significant Accounting Policies The accompanying financial statements are prepared in conformity with accounting principles generally accepted in the United States (GAAP). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On November 21, 2000, the American Institute of Certified Public Accountants issued a revised Audit and Accounting Guide "Audits of Investment Companies". Adoption of the new requirements is not expected to have a significant impact on the Account's financial position or earnings. Investments are made in shares of EQAT and are valued at the net asset values per share of the respective Portfolios. The net asset value is determined by EQAT using the market or fair value of the underlying assets of the Portfolio less liabilities. Investment transactions are recorded by the Account on the trade date. Dividends and capital gains are declared and distributed by the Trust at the end of the year and are automatically reinvested on the ex-dividend date. Realized gains and losses include (1) gains and losses on redemptions of EQAT's shares (determined on the identified cost basis) and (2) Trust distributions representing the net realized gains on Trust investment transactions. No federal income tax based on net income or realized and unrealized capital gains is currently applicable to Contracts participating in the Account by reason of applicable provisions of the Internal Revenue Code and no federal income tax payable by Equitable Life is expected to affect the unit value of Contracts participating in the Account. Accordingly, no provision for income taxes is required. Equitable Life retains the right to charge for any federal income tax incurred which is attributable to the Account if the law is changed. FSA-26 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 3. Asset Charges The following charges are made directly against the daily net assets of the Account and are reflected daily in the computation of the accumulation unit values of the Contracts:
MORTALITY AND FINANCIAL EXPENSE RISKS OTHER EXPENSES ACCOUNTING TOTAL --------------- ---------------- ------------ ---------- EQUI-VEST/MOMENTUM CONTRACTS ---------------------------- Alliance Money Market Fund, Alliance Balanced Fund Alliance Common Stock Fund ................. 0.65% 0.60% 0.24% 1.49% All Other Funds ............................ 0.50% 0.60% 0.24% 1.34% MOMENTUM PLUS CONTRACTS - ALL FUNDS ........ 1.10% 0.25% - 1.35% OLD CONTRACTS ------------- Common Stock and Money Market Funds ........ 0.58% 0.16% - 0.74% EQUIPLAN CONTRACTS ------------------ Common Stock and Intermediate Government Securities Funds ... 0.58% 0.16% - 0.74% EQUI-VEST SERIES 300 & Series 400 Contracts ------------------------------------------- Alliance Money Market Fund Alliance Common Stock Fund Alliance Aggressive Stock Fund Alliance Balanced Fund ..................... 1.10% 0.25% - 1.35% All Other Funds* ........................... 1.10% 0.24% - 1.34% EQUI-VEST SERIES 500 CONTRACTS ------------------------------ All Funds .................................. 1.20% 0.25% - 1.45% EQUI-VEST SERIES 600 CONTRACTS ------------------------------ All Funds .................................. 0.95% 0.25% - 1.20% EQUI-VEST EXPRESS SERIES 700 CONTRACTS -------------------------------------- All Funds .................................. 0.70% 0.25% - 0.95% EQUI-VEST SERIES 800 CONTRACTS ------------------------------ All Funds .................................. 0.95% 0.25% - 1.20%
---------- * During 2000 and 1999, Equitable Life charged EQUI-VEST Series 300 and 400 Contracts 0.24% against the assets of the Trust for expenses, except as noted. This voluntary expense limitation discounted from 0.25% to 0.24% may be discontinued by Equitable Life at its discretion. The above charges may be retained in the Account by Equitable Life and, to the extent retained, participate in the net investment results of EQAT ratably with assets attributable to the Contracts. Since EQAT shares are valued at their net asset value, investment advisory fees and direct operating expenses of EQAT are, in effect, passed on to the Account and are reflected in the computation of the accumulation unit values of the Contracts. Under the terms of the Contracts, the aggregate of these asset charges and the charges of the Trust for advisory fees and for direct operating expenses may not exceed a total effective annual rate of 1.75% for EQUI-VEST Series 100 and 200 Contracts and Momentum Contracts for the Alliance Money Market, the Alliance Common Stock, the EQ/Aggressive Stock, the EQ/Balanced variable investment options and 1% of all portfolios of the Old Contracts and EQUIPLAN Contracts. Under the Contracts, the total charges may be reallocated among the various expense categories. Equitable Life, however, intends to limit any possible reallocation to include only the expense risks, mortality risks and death benefit charges. FSA-27 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges Contributions represent participant contributions under EQUI-VEST, Momentum, Momentum Plus and EQUI-VEST Series 300 through 800 Contracts (but excludes amounts allocated to the Guaranteed Interest Account, which are reflected in the General Account) and participant contributions under other Contracts (Old Contracts, EQUIPLAN) reduced by applicable deductions, charges and state premium taxes. Contributions also include amounts applied to purchase variable annuities. Transfers are amounts that participants have directed to be moved among the Funds, including permitted transfers to and from the Guaranteed Interest Account, which is part of Equitable Life's General Account and fixed maturity options of Separate Account 48. Variable annuity payments and death benefits are payments to participants and beneficiaries made under the terms of the Contracts. Withdrawals are amounts that participants have requested to be withdrawn and paid to them or applied to purchase annuities. Withdrawal charges, if applicable, are the deferred contingent withdrawal charges that apply to certain withdrawals under EQUI-VEST, Momentum, Momentum Plus and EQUI-VEST Series 300 through 800 Contracts. Administrative charges, if applicable, are deducted annually under EQUI-VEST, EQUIPLAN and Old Contracts and quarterly under Momentum, Momentum Plus and EQUI-VEST Series 300 through 800 Contracts. Accumulation units issued and redeemed during the periods indicated were: (Acronym BP refers to total Basis Points charged for that product as described in Footnote 3)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) ALLIANCE COMMON STOCK --------------------- Issued - EQUI-VEST Contracts ................................... 2,706 3,241 Momentum Contracts .................................... 171 175 Momentum Plus Contracts 135 BP ........................ 326 429 Momentum Plus Contracts 100 BP ........................ 1 2 Momentum Plus Contracts 90 BP ......................... 2 - Old Contracts ......................................... - - EQUIPLAN Contracts .................................... - - EQUI-VEST Contracts Series 300 & 400 135 BP ........... 441 2,215 EQUI-VEST Contracts Series 500 145 BP ................. 7 15 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 757 107 EQUI-VEST Contracts Series 600 90 BP .................. 33 290 EQUI-VEST Express Contracts Series 700 95 BP .......... 283 26 Redeemed - EQUI-VEST Contracts ................................... 3,746 3,767 Momentum Contracts .................................... 225 214 Momentum Plus Contracts 135 BP ........................ 124 530 Momentum Plus Contracts 100 BP ........................ 8 26 Momentum Plus Contracts 90 BP ......................... 1 - Old Contracts ......................................... 3 32 EQUIPLAN Contracts .................................... - 5 EQUI-VEST Contracts Series 300 & 400 135 BP ........... 690 1,521 EQUI-VEST Contracts Series 500 145 BP ................. 2 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 159 2 EQUI-VEST Contracts Series 600 90 BP .................. 42 56 EQUI-VEST Express Contracts Series 700 95 BP .......... 13 -
FSA-28 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) ALLIANCE CONSERVATIVE INVESTORS ------------------------------- Issued - EQUI-VEST Contracts ................................... 122 - Momentum Contracts .................................... 5 8 Momentum Plus Contracts 135 BP ........................ 19 34 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 47 204 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 69 6 EQUI-VEST Contracts Series 600 90 BP .................. 1 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 34 4 Redeemed - EQUI-VEST Contracts ................................... 320 - Momentum Contracts .................................... 8 9 Momentum Plus Contracts 135 BP ........................ 4 56 Momentum Plus Contracts 100 BP ........................ - 4 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 152 113 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 6 - EQUI-VEST Contracts Series 600 90 BP .................. 1 - EQUI-VEST Express Contracts Series 700 95 BP .......... 4 - ALLIANCE GLOBAL --------------- Issued - EQUI-VEST Contracts ................................... 2,300 - Momentum Contracts .................................... 44 45 Momentum Plus Contracts 135 BP ........................ 100 108 Momentum Plus Contracts 100 BP ........................ - 1 Momentum Plus Contracts 90 BP ......................... 1 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1,396 1,795 EQUI-VEST Contracts Series 500 145 BP ................. 1 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 217 23 EQUI-VEST Contracts Series 600 90 BP .................. 4 14 EQUI-VEST Express Contracts Series 700 95 BP .......... 111 9 Redeemed - EQUI-VEST Contracts ................................... 3,719 - Momentum Contracts .................................... 50 45 Momentum Plus Contracts 135 BP ........................ 42 163 Momentum Plus Contracts 100 BP ........................ 2 9 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 226 1,681 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 57 3 EQUI-VEST Contracts Series 600 90 BP .................. 2 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 10 -
FSA-29 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) ALLIANCE GROWTH AND INCOME -------------------------- Issued - EQUI-VEST Contracts ................................... 1,083 - Momentum Contracts .................................... 40 46 Momentum Plus Contracts 135 BP ........................ 82 103 Momentum Plus Contracts 100 BP ........................ - 1 Momentum Plus Contracts 90 BP ......................... - 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 458 1,203 EQUI-VEST Contracts Series 500 145 BP ................. 1 3 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 259 39 EQUI-VEST Contracts Series 600 90 BP .................. 4 15 EQUI-VEST Express Contracts Series 700 95 BP .......... 138 14 Redeemed - EQUI-VEST Contracts ................................... 2,250 - Momentum Contracts .................................... 36 34 Momentum Plus Contracts 135 BP ........................ 34 95 Momentum Plus Contracts 100 BP ........................ 2 3 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 965 583 EQUI-VEST Contracts Series 500 145 BP ................. 1 - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 35 1 EQUI-VEST Contracts Series 600 90 BP .................. 3 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 7 - ALLIANCE GROWTH INVESTORS ------------------------- Issued - EQUI-VEST Contracts ................................... 636 - Momentum Contracts .................................... 40 45 Momentum Plus Contracts 135 BP ........................ 93 121 Momentum Plus Contracts 100 BP ........................ - 1 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 110 939 EQUI-VEST Contracts Series 500 145 BP ................. 1 2 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 215 22 EQUI-VEST Contracts Series 600 90 BP .................. 8 20 EQUI-VEST Express Contracts Series 700 95 BP .......... 96 10 Redeemed - EQUI-VEST Contracts ................................... 1,918 - Momentum Contracts .................................... 42 38 Momentum Plus Contracts 135 BP ........................ 62 203 Momentum Plus Contracts 100 BP ........................ 2 10 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 2,540 671 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 14 1 EQUI-VEST Contracts Series 600 90 BP .................. 4 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 4 -
FSA-30 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) C> ALLIANCE HIGH YIELD ------------------- Issued - EQUI-VEST Contracts ................................... 130 - Momentum Contracts .................................... 10 12 Momentum Plus Contracts 135 BP ........................ 25 40 Momentum Plus Contracts 100 BP ........................ - - Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 27 324 EQUI-VEST Contracts Series 500 145 BP ................. - 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 26 5 EQUI-VEST Contracts Series 600 90 BP .................. 11 16 EQUI-VEST Express Contracts Series 700 95 BP .......... 20 4 Redeemed - EQUI-VEST Contracts ................................... 746 - Momentum Contracts .................................... 13 15 Momentum Plus Contracts 135 BP ........................ 28 58 Momentum Plus Contracts 100 BP ........................ - 5 Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 391 490 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 3 - EQUI-VEST Contracts Series 600 90 BP .................. 11 12 EQUI-VEST Express Contracts Series 700 95 BP .......... 1 - ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES ------------------------------------------- Issued - EQUI-VEST Contracts ................................... 105 - Momentum Contracts .................................... 10 15 Momentum Plus Contracts 135 BP ........................ 12 22 Momentum Plus Contracts 100 BP ........................ - 1 EQUIPLAN Contracts .................................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 48 185 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 27 1 EQUI-VEST Contracts Series 600 90 BP .................. - 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 9 3 Redeemed - EQUI-VEST Contracts ................................... 310 - Momentum Contracts .................................... 12 13 Momentum Plus Contracts 135 BP ........................ 4 36 Momentum Plus Contracts 100 BP ........................ - 4 EQUIPLAN Contracts .................................... - 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 107 140 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 12 - EQUI-VEST Contracts Series 600 90 BP .................. 1 - EQUI-VEST Express Contracts Series 700 95 BP .......... 1 -
FSA-31 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) ALLIANCE INTERNATIONAL ---------------------- Issued - EQUI-VEST Contracts ................................... 5,628 - Momentum Contracts .................................... 20 15 Momentum Plus Contracts 135 BP ........................ 57 55 Momentum Plus Contracts 100 BP ........................ - 1 Momentum Plus Contracts 90 BP ......................... 1 - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 2,421 5,205 EQUI-VEST Contracts Series 500 145 BP ................. 56 15 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 78 5 EQUI-VEST Contracts Series 600 90 BP .................. 2 5 EQUI-VEST Express Contracts Series 700 95 BP .......... 71 1 Redeemed - EQUI-VEST Contracts ................................... 5,978 - Momentum Contracts .................................... 18 14 Momentum Plus Contracts 135 BP ........................ 37 58 Momentum Plus Contracts 100 BP ........................ 2 2 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1,969 5,250 EQUI-VEST Contracts Series 500 145 BP ................. 56 14 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 45 2 EQUI-VEST Contracts Series 600 90 BP .................. 2 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 39 - ALLIANCE MONEY MARKET --------------------- Issued - EQUI-VEST Contracts ................................... 2,528 1,602 Momentum Contracts .................................... 468 675 Momentum Plus Contracts 135 BP ........................ 393 522 Momentum Plus Contracts 100 BP ........................ 1 1 Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 135 BP ........... 380 734 EQUI-VEST Contracts Series 500 145 BP ................. - 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 130 26 EQUI-VEST Contracts Series 600 90 BP .................. 7 5 EQUI-VEST Express Contracts Series 700 95 BP .......... 437 47 Redeemed - EQUI-VEST Contracts ................................... 2,724 1,345 Momentum Contracts .................................... 551 573 Momentum Plus Contracts 135 BP ........................ 332 513 Momentum Plus Contracts 100 BP ........................ - 9 Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 135 BP ........... 304 636 EQUI-VEST Contracts Series 500 145 BP ................. - 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 89 9 EQUI-VEST Contracts Series 600 90 BP .................. 6 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 341 4
FSA-32 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) ALLIANCE QUALITY BOND --------------------- Issued - EQUI-VEST Contracts ................................... 161 - Momentum Contracts .................................... 6 7 Momentum Plus Contracts 135 BP ........................ 19 27 Momentum Plus Contracts 100 BP ........................ - - Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 74 287 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 35 4 EQUI-VEST Contracts Series 600 90 BP .................. 1 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 23 4 Redeemed - EQUI-VEST Contracts ................................... 485 - Momentum Contracts .................................... 6 7 Momentum Plus Contracts 135 BP ........................ 15 33 Momentum Plus Contracts 100 BP ........................ - 1 Old Contracts ......................................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 194 222 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 12 - EQUI-VEST Contracts Series 600 90 BP .................. - 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 1 - ALLIANCE SMALL CAP GROWTH ------------------------- Issued - EQUI-VEST Contracts ................................... 4,215 - Momentum Contracts .................................... 31 24 Momentum Plus Contracts 135 BP ........................ 59 40 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1,167 3,124 EQUI-VEST Contracts Series 500 145 BP ................. 1 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 163 3 EQUI-VEST Contracts Series 600 90 BP .................. 10 7 EQUI-VEST Express Contracts Series 700 95 BP .......... 67 1 Redeemed - EQUI-VEST Contracts ................................... 3,874 - Momentum Contracts .................................... 17 15 Momentum Plus Contracts 135 BP ........................ 19 48 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 590 3,249 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 67 1 EQUI-VEST Contracts Series 600 90 BP .................. 3 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 5 -
FSA-33 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) CALVERT SOCIALLY RESPONSIBLE ---------------------------- Issued - EQUI-VEST Contracts ................................... 31 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... - 5 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... - - EQUI-VEST Contracts Series 600 90 BP .................. - - Redeemed - EQUI-VEST Contracts ................................... 20 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... - 1 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... - - EQUI-VEST Contracts Series 600 90 BP .................. - - CAPITAL GUARDIAN INTERNATIONAL ------------------------------ Issued - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ 1 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - Redeemed - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - CAPITAL GUARDIAN RESEARCH ------------------------- Issued - EQUI-VEST Contracts ................................... 99 - Momentum Contracts .................................... 1 - Momentum Plus Contracts 135 BP ........................ 1 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 19 11 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 12 1 EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 4 -
FSA-34 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) CAPITAL GUARDIAN RESEARCH (CONCLUDED) ------------------------------------- Redeemed - EQUI-VEST Contracts ................................... 69 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 13 3 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 4 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - CAPITAL GUARDIAN U.S. EQUITY ---------------------------- Issued - EQUI-VEST Contracts ................................... 50 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 12 14 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 12 1 EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 3 - Redeemed - EQUI-VEST Contracts ................................... 34 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 8 2 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 2 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/AGGRESSIVE STOCK ------------------- Issued - EQUI-VEST Contracts ................................... 4,591 5,110 Momentum Contracts .................................... 514 523 Momentum Plus Contracts 135 BP ........................ 266 362 Momentum Plus Contracts 100 BP ........................ - 2 Momentum Plus Contracts 90 BP ......................... 1 2 EQUI-VEST Contracts Series 300 & 400 135 BP ........... 771 1,918 EQUI-VEST Contracts Series 500 145 BP ................. 1 3 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 222 19 EQUI-VEST Contracts Series 600 90 BP .................. 19 160 EQUI-VEST Express Contracts Series 700 95 BP .......... 26 3
FSA-35 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) EQ/AGGRESSIVE STOCK (CONCLUDED) ------------------------------- Redeemed - EQUI-VEST Contracts ................................... 7,735 9,798 Momentum Contracts .................................... 695 717 Momentum Plus Contracts 135 BP ........................ 114 446 Momentum Plus Contracts 100 BP ........................ 7 29 Momentum Plus Contracts 90 BP ......................... 1 2 EQUI-VEST Contracts Series 300 & 400 135 BP ........... 807 2,280 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 168 1 EQUI-VEST Contracts Series 600 90 BP .................. 20 34 EQUI-VEST Express Contracts Series 700 95 BP .......... 2 - EQ/ALLIANCE PREMIER GROWTH -------------------------- Issued - EQUI-VEST Contracts ................................... 1,938 - Momentum Contracts .................................... 39 13 Momentum Plus Contracts 135 BP ........................ 29 6 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... 1 - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 440 1,016 EQUI-VEST Contracts Series 500 145 BP ................. 1 - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 355 37 EQUI-VEST Contracts Series 600 90 BP .................. 5 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 228 21 Redeemed - EQUI-VEST Contracts ................................... 590 - Momentum Contracts .................................... 11 - Momentum Plus Contracts 135 BP ........................ 3 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 80 129 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 42 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 7 - EQ/ALLIANCE TECHNOLOGY ---------------------- Issued - EQUI-VEST Contracts ................................... 1,386 - Momentum Contracts .................................... 18 - Momentum Plus Contracts 135 BP ........................ 12 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 630 - EQUI-VEST Contracts Series 500 145 BP ................. 1 - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 145 - EQUI-VEST Contracts Series 600 90 BP .................. 7 - EQUI-VEST Express Contracts Series 700 95 BP .......... 99 -
FSA-36 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) EQ/ALLIANCE TECHNOLOGY (CONCLUDED) ---------------------------------- Redeemed - EQUI-VEST Contracts ................................... 549 - Momentum Contracts .................................... 1 - Momentum Plus Contracts 135 BP ........................ 1 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 154 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 17 - EQUI-VEST Contracts Series 600 90 BP .................. 2 - EQUI-VEST Express Contracts Series 700 95 BP .......... 7 - EQ/AXP NEW DIMENSIONS --------------------- Issued - EQUI-VEST Contracts ................................... 33 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 14 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 2 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 2 - Redeemed - EQUI-VEST Contracts ................................... 4 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... - - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/AXP STRATEGY AGGRESSIVE -------------------------- Issued - EQUI-VEST Contracts ................................... 124 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 11 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 2 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 6 -
FSA-37 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) EQ/AXP STRATEGY AGGRESSIVE (CONCLUDED) -------------------------------------- Redeemed - EQUI-VEST Contracts ................................... 79 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... - - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/BALANCED ----------- Issued - EQUI-VEST Contracts ................................... 2,002 2,547 Momentum Contracts .................................... 118 198 Momentum Plus Contracts 135 BP ........................ 89 130 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - 1 EQUI-VEST Contracts Series 300 & 400 135 BP ........... 93 279 EQUI-VEST Contracts Series 500 145 BP ................. 1 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 114 12 EQUI-VEST Contracts Series 600 90 BP .................. 6 74 EQUI-VEST Express Contracts Series 700 95 BP .......... 33 368 Redeemed - EQUI-VEST Contracts ................................... 4,010 4,474 Momentum Contracts .................................... 261 319 Momentum Plus Contracts 135 BP ........................ 15 183 Momentum Plus Contracts 100 BP ........................ 1 10 Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 135 BP ........... 115 334 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 24 1 EQUI-VEST Contracts Series 600 90 BP .................. 5 9 EQUI-VEST Express Contracts Series 700 95 BP .......... 1 366 EQ EQUITY 500 INDEX ------------------- Issued - EQUI-VEST Contracts ................................... 1,833 - Momentum Contracts .................................... 81 92 Momentum Plus Contracts 135 BP ........................ 143 195 Momentum Plus Contracts 100 BP ........................ - 1 Momentum Plus Contracts 90 BP ......................... 1 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 914 3,313 EQUI-VEST Contracts Series 500 145 BP ................. 3 7 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 348 52 EQUI-VEST Contracts Series 600 90 BP .................. 28 68 EQUI-VEST Express Contracts Series 700 95 BP .......... 80 10
FSA-38 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) EQ EQUITY 500 INDEX (CONCLUDED) ------------------------------- Redeemed - EQUI-VEST Contracts ................................... 4,413 - Momentum Contracts .................................... 90 55 Momentum Plus Contracts 135 BP ........................ 76 174 Momentum Plus Contracts 100 BP ........................ 3 7 Momentum Plus Contracts 90 BP ......................... - 1 EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1,433 2,540 EQUI-VEST Contracts Series 500 145 BP ................. 1 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 140 2 EQUI-VEST Contracts Series 600 90 BP .................. 26 15 EQUI-VEST Express Contracts Series 700 95 BP .......... 9 1 EQ/EVERGREEN FOUNDATION ----------------------- Issued - EQUI-VEST Contracts ................................... 24 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 8 1 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 3 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 3 - Redeemed - EQUI-VEST Contracts ................................... 11 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 7 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 1 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/EVERGREEN ------------ Issued - EQUI-VEST Contracts ................................... 19 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 1 10 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 3 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 1 -
FSA-39 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ---- ---- (IN THOUSANDS) EQ/EVERGREEN (CONCLUDED) ------------------------ Redeemed - EQUI-VEST Contracts ................................... 8 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... - 5 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... - - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/JANUS LARGE CAP GROWTH ------------------------- Issued - EQUI-VEST Contracts ................................... 132 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 51 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 13 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... 12 - Redeemed - EQUI-VEST Contracts ................................... 11 - Momentum Contracts .................................... - - Momentum Plus Contracts 135 BP ........................ - - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 5 - EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 1 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/PUTNAM BALANCED ------------------ Issued - EQUI-VEST Contracts ................................... 209 - Momentum Contracts .................................... 2 2 Momentum Plus Contracts 135 BP ........................ 7 6 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 59 163 EQUI-VEST Contracts Series 500 145 BP ................. - 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 28 3 EQUI-VEST Contracts Series 600 90 BP .................. 1 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 5 -
FSA-40 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ----------------------- 2000 1999 ---- ---- (IN THOUSANDS) EQ/PUTNAM BALANCED (CONCLUDED) ------------------------------ Redeemed - EQUI-VEST Contracts ................................... 444 - Momentum Contracts .................................... 1 - Momentum Plus Contracts 135 BP ........................ 3 2 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 111 94 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 21 - EQUI-VEST Contracts Series 600 90 BP .................. - - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/PUTNAM GROWTH & INCOME VALUE -------------------------------- Issued - EQUI-VEST Contracts ................................... 128 - Momentum Contracts .................................... 4 3 Momentum Plus Contracts 135 BP ........................ 10 13 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 31 262 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 19 3 EQUI-VEST Contracts Series 600 90 BP .................. 1 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 6 - Redeemed - EQUI-VEST Contracts ................................... 583 - Momentum Contracts .................................... 3 - Momentum Plus Contracts 135 BP ........................ 4 3 Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - EQUI-VEST Contracts Series 300 & 400 134 BP ........... 297 195 EQUI-VEST Contracts Series 500 145 BP ................. - - EQUI-VEST Contracts Series 600 & 800 120 BP ........... 5 - EQUI-VEST Contracts Series 600 90 BP .................. 1 - EQUI-VEST Express Contracts Series 700 95 BP .......... - - EQ/PUTNAM INTERNATIONAL EQUITY ------------------------------ Issued - Momentum Contracts .................................... 8 1 Momentum Plus Contracts 135 BP ........................ 4 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - - Redeemed - Momentum Contracts .................................... 2 - Momentum Plus Contracts 135 BP ........................ 1 - Momentum Plus Contracts 100 BP ........................ - - Momentum Plus Contracts 90 BP ......................... - -
FSA-41 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ------ ----- (IN THOUSANDS) EQ/PUTNAM INVESTORS GROWTH -------------------------- Issued -- Momentum Contracts .................................... 2 1 Momentum Plus Contracts 135 BP ........................ 3 -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- Redeemed -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ 1 -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- FI MID CAP ---------- Issued -- EQUI-VEST Contracts ................................... 68 -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 30 -- EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 9 -- EQUI-VEST Contracts Series 600 90 BP .................. -- -- EQUI-VEST Express Contracts Series 700 95 BP .......... 7 -- Redeemed -- EQUI-VEST Contracts ................................... 7 -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 5 -- EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... -- -- EQUI-VEST Contracts Series 600 90 BP .................. -- -- EQUI-VEST Express Contracts Series 700 95 BP .......... -- -- FI SMALL/MID CAP VALUE ---------------------- Issued -- EQUI-VEST Contracts ................................... 202 -- Momentum Contracts .................................... 4 4 Momentum Plus Contracts 135 BP ........................ 11 10 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 48 273 EQUI-VEST Contracts Series 500 145 BP ................. -- 3 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 17 1 EQUI-VEST Contracts Series 600 90 BP .................. 1 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 12 1
FSA-42 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (CONTINUED)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ------ ------ (IN THOUSANDS) FI SMALL/MID CAP VALUE (CONCLUDED) ---------------------------------- Redeemed -- EQUI-VEST Contracts ................................... 663 -- Momentum Contracts .................................... 2 1 Momentum Plus Contracts 135 BP ........................ 6 5 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 321 410 EQUI-VEST Contracts Series 500 145 BP ................. -- 3 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 5 -- EQUI-VEST Contracts Series 600 90 BP .................. 1 1 EQUI-VEST Express Contracts Series 700 95 BP .......... -- -- LAZARD LARGE CAP VALUE ---------------------- Issued -- EQUI-VEST Contracts ................................... -- -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- Redeemed -- EQUI-VEST Contracts ................................... -- -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- LAZARD SMALL CAP VALUE ---------------------- Issued -- Momentum Contracts .................................... 1 -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- Redeemed -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- MERCURY BASIC VALUE EQUITY -------------------------- Issued -- EQUI-VEST Contracts ................................... 221 -- Momentum Contracts .................................... 6 6 Momentum Plus Contracts 135 BP ........................ 18 20 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 52 451 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 42 7 EQUI-VEST Contracts Series 600 90 BP .................. 1 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 29 5
FSA-43 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (Continued)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 -------- -------- (IN THOUSANDS) MERCURY BASIC VALUE EQUITY (CONCLUDED) -------------------------------------- Redeemed -- EQUI-VEST Contracts ................................... 470 -- Momentum Contracts .................................... 3 3 Momentum Plus Contracts 135 BP ........................ 8 7 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 212 278 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 8 -- EQUI-VEST Contracts Series 600 90 BP .................. -- 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 2 -- MERCURY WORLD STRATEGY ---------------------- Issued -- EQUI-VEST Contracts ................................... 114 -- Momentum Contracts .................................... -- 1 Momentum Plus Contracts 135 BP ........................ 2 1 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 51 165 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 6 1 EQUI-VEST Contracts Series 600 90 BP .................. -- 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 5 -- Redeemed -- EQUI-VEST Contracts ................................... 142 -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ 1 -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 17 161 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 1 -- EQUI-VEST Contracts Series 600 90 BP .................. -- -- EQUI-VEST Express Contracts Series 700 95 BP .......... -- -- MFS EMERGING GROWTH COMPANIES ----------------------------- Issued -- EQUI-VEST Contracts ................................... 2,892 -- Momentum Contracts .................................... 45 33 Momentum Plus Contracts 135 BP ........................ 138 111 Momentum Plus Contracts 100 BP ........................ -- 1 Momentum Plus Contracts 90 BP ......................... 1 -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 344 2,613 EQUI-VEST Contracts Series 500 145 BP ................. 3 4 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 284 37 EQUI-VEST Contracts Series 600 90 BP .................. 15 11 EQUI-VEST Express Contracts Series 700 95 BP .......... 172 17
FSA-44 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (Continued)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ------- -------- (IN THOUSANDS) MFS EMERGING GROWTH COMPANIES (CONCLUDED) ----------------------------------------- Redeemed -- EQUI-VEST Contracts ................................... 2,597 -- Momentum Contracts .................................... 19 5 Momentum Plus Contracts 135 BP ........................ 14 31 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 654 1,276 EQUI-VEST Contracts Series 500 145 BP ................. 1 -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 32 2 EQUI-VEST Contracts Series 600 90 BP .................. 5 4 EQUI-VEST Express Contracts Series 700 95 BP .......... 8 -- MFS GROWTH WITH INCOME ---------------------- Issued -- EQUI-VEST Contracts ................................... 68 -- Momentum Contracts .................................... 1 -- Momentum Plus Contracts 135 BP ........................ 1 -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 16 19 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 16 3 EQUI-VEST Contracts Series 600 90 BP .................. -- -- EQUI-VEST Express Contracts Series 700 95 BP .......... 12 1 Redeemed -- EQUI-VEST Contracts ................................... 19 -- Momentum Contracts .................................... -- -- Momentum Plus Contracts 135 BP ........................ -- -- Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 14 1 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 2 -- EQUI-VEST Contracts Series 600 90 BP .................. -- -- EQUI-VEST Express Contracts Series 700 95 BP .......... -- -- MFS RESEARCH ------------ Issued -- EQUI-VEST Contracts ................................... 523 -- Momentum Contracts .................................... 10 7 Momentum Plus Contracts 135 BP ........................ 29 31 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 221 706 EQUI-VEST Contracts Series 500 145 BP ................. 1 2 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 92 6 EQUI-VEST Contracts Series 600 90 BP .................. 2 6 EQUI-VEST Express Contracts Series 700 95 BP .......... 54 3
FSA-45 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (Continued)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 -------- -------- (IN THOUSANDS) MFS RESEARCH (CONCLUDED) ------------------------ Redeemed -- EQUI-VEST Contracts ................................... 695 -- Momentum Contracts .................................... 7 3 Momentum Plus Contracts 135 BP ........................ 9 8 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 249 466 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 14 -- EQUI-VEST Contracts Series 600 90 BP .................. 1 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 1 -- MORGAN STANLEY EMERGING MARKETS EQUITY -------------------------------------- Issued -- EQUI-VEST Contracts ................................... 3,837 -- Momentum Contracts .................................... 19 7 Momentum Plus Contracts 135 BP ........................ 28 14 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 636 3,334 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 52 7 EQUI-VEST Contracts Series 600 90 BP .................. 3 4 EQUI-VEST Express Contracts Series 700 95 BP .......... 90 1 Redeemed -- EQUI-VEST Contracts ................................... 3,669 -- Momentum Contracts .................................... 9 1 Momentum Plus Contracts 135 BP ........................ 12 4 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 468 2,961 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 15 2 EQUI-VEST Contracts Series 600 90 BP .................. 3 2 EQUI-VEST Express Contracts Series 700 95 BP .......... 63 -- T. ROWE PRICE EQUITY INCOME --------------------------- Issued -- EQUI-VEST Contracts ................................... 268 -- Momentum Contracts .................................... 4 5 Momentum Plus Contracts 135 BP ........................ 15 24 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 61 368 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 22 3 EQUI-VEST Contracts Series 600 90 BP .................. 1 6 EQUI-VEST Express Contracts Series 700 95 BP .......... 7 2
FSA-46 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 4. Contributions, Payments, Transfers and Charges (Concluded)
YEARS ENDED DECEMBER 31, ------------------------ 2000 1999 ------- -------- (IN THOUSANDS) T. ROWE PRICE EQUITY INCOME (CONCLUDED) --------------------------------------- Redeemed -- EQUI-VEST Contracts ................................... 1,097 -- Momentum Contracts .................................... 3 1 Momentum Plus Contracts 135 BP ........................ 2 3 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 521 366 EQUI-VEST Contracts Series 500 145 BP ................. -- -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 13 -- EQUI-VEST Contracts Series 600 90 BP .................. 2 1 EQUI-VEST Express Contracts Series 700 95 BP .......... 1 -- T. ROWE PRICE INTERNATIONAL STOCK --------------------------------- Issued -- EQUI-VEST Contracts ................................... 1,230 -- Momentum Contracts .................................... 9 4 Momentum Plus Contracts 135 BP ........................ 17 17 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 633 1,050 EQUI-VEST Contracts Series 500 145 BP ................. 10 1 EQUI-VEST Contracts Series 600 & 800 120 BP ........... 69 4 EQUI-VEST Contracts Series 600 90 BP .................. 3 3 EQUI-VEST Express Contracts Series 700 95 BP .......... 52 3 Redeemed -- EQUI-VEST Contracts ................................... 1,467 -- Momentum Contracts .................................... 4 -- Momentum Plus Contracts 135 BP ........................ 5 6 Momentum Plus Contracts 100 BP ........................ -- -- Momentum Plus Contracts 90 BP ......................... -- -- EQUI-VEST Contracts Series 300 & 400 134 BP ........... 289 956 EQUI-VEST Contracts Series 500 145 BP ................. 10 -- EQUI-VEST Contracts Series 600 & 800 120 BP ........... 30 -- EQUI-VEST Contracts Series 600 90 BP .................. 1 -- EQUI-VEST Express Contracts Series 700 95 BP .......... 12 --
FSA-47 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets Net assets consist of net assets attributable to: (i) Contracts in the accumulation period, which are represented by Contract accumulation units outstanding multiplied by net unit values and (ii) actuarial reserves and other liabilities attributable to Contracts in the payout period which are not represented by accumulation units or unit values. Listed below are components of net ASSETS:
ALLIANCE ALLIANCE COMMON CONSERVATIVE ALLIANCE STOCK INVESTORS GLOBAL --------------- -------------- -------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $5,321,522,200 $37,904,200 $384,274,170 Net assets attributable to Old Contracts in accumulation period ........................... 89,293,073 -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. 28,570,072 -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 169,160,145 -- 30,175,166 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 219,286,762 10,528,333 53,968,899 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 1,922,836 580 332,908 Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ 1,886,999 -- 690,856 Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 1,651,111,756 85,058,835 358,694,897 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 2,585,673 34,467 272,010 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 75,549,815 7,778,646 19,457,374 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 24,721,107 477,597 1,647,915 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 27,872,376 3,652,005 10,507,006 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 39,945,828 1,490,762 1,442,817 -------------- ------------ ------------ $7,653,428,641 $150,172,914 $861,464,018 ============== ============ ============ ALLIANCE ALLIANCE ALLIANCE GROWTH GROWTH HIGH AND INCOME INVESTORS YIELD -------------- ---------------- --------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ 439,502,738 $ 431,288,125 $ 42,988,195 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 30,320,152 33,737,968 4,063,663 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 49,199,311 70,484,711 9,079,715 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 427,113 777,358 16,788 Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ 504,054 464,553 -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 462,455,301 472,736,159 60,488,233 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 643,668 346,386 60,235 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 33,815,267 25,958,881 2,147,972 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 2,062,525 2,625,852 371,691 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 16,253,162 10,469,253 2,059,598 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 5,901,119 4,336,751 554,518 -------------- -------------- ------------ $1,041,084,410 $1,053,225,997 $121,830,609 ============== ============== ============
FSA-48 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (Continued)
ALLIANCE INTERMEDIATE ALLIANCE GOVERNMENT SECURITIES INTERNATIONAL ----------------------- --------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $16,113,818 $ 69,904,228 Net assets attributable to Old Contracts in accumulation period ........................... -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. 2,580,427 -- Net assets attributable to Momentum Contracts in accumulation period .............. 1,603,064 4,759,008 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 4,365,732 8,375,780 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 1,023 101,264 Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- 210,854 Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 25,507,395 55,075,241 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 25,402 86,221 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 1,727,587 3,407,493 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 311,147 394,951 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 1,128,968 3,145,860 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 41,241 730,423 ----------- ------------ $53,405,804 $146,191,322 =========== ============ ALLIANCE ALLIANCE ALLIANCE CALVERT MONEY QUALITY SMALL CAP SOCIALLY MARKET BOND GROWTH RESPONSIBLE --------------- ------------- -------------- ------------ Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ 48,339,051 $31,456,532 $193,905,526 $1,533,730 Net assets attributable to Old Contracts in accumulation period ........................... 3,942,144 -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 12,776,862 2,055,320 8,442,210 13,952 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 30,224,802 5,387,919 8,113,558 7,067 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 306,423 14,304 23,952 -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- -- 172,215 -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 38,791,339 46,874,939 124,953,235 -- Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 8,736 31,405 247,511 -- Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 6,315,082 2,957,180 12,100,972 1,006 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 311,220 220,897 1,486,703 28,747 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 14,808,229 2,880,698 9,253,023 -- Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 828,297 483,154 634,962 -- ------------ ----------- ------------ ---------- $156,652,185 $92,362,347 $359,333,867 $1,584,502 ============ =========== ============ ==========
FSA-49 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (CONTINUED)
CAPITAL CAPITAL CAPITAL GUARDIAN GUARDIAN GUARDIAN INTERNATIONAL RESEARCH U.S. EQUITY --------------- ------------ ------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ -- $2,886,621 $2,092,888 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 48,750 95,405 15,020 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 52,291 63,478 5,258 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ -- -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... -- 1,969,815 1,403,619 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ -- 3,285 -- Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... -- 963,483 1,141,170 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ -- -- -- Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... -- 404,750 309,027 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ -- -- -- -------- ---------- ---------- $101,041 $6,386,835 $4,966,982 ======== ========== ========== EQ/ALLIANCE EQ/AGGRESSIVE PREMIER EQ/ALLIANCE STOCK GROWTH TECHNOLOGY ---------------- -------------- --------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $1,645,175,711 $142,542,991 $ 55,316,865 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 92,999,128 3,866,874 1,146,086 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 114,730,888 2,172,830 650,561 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 357,129 13,404 -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ 974,511 94,642 -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 423,248,722 100,684,829 31,435,390 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 385,147 124,512 38,414 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 6,470,035 32,827,214 8,447,749 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 11,533,596 560,497 329,694 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 2,690,920 22,750,202 6,099,851 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 4,438,536 -- -- -------------- ------------ ------------ $2,303,004,323 $305,637,994 $103,464,610 ============== ============ ============
FSA-50 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (CONTINUED)
EQ/AXP EQ/AXP NEW STRATEGY EQ/ DIMENSIONS AGGRESSIVE BALANCED ------------ ------------ ---------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $2,337,053 $2,804,801 $1,043,119,617 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. -- -- 36,931,393 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ -- 14 43,705,383 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ -- -- 17,328 Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- -- 266,540 Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 1,078,079 579,394 150,840,638 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ -- -- 262,777 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 143,453 99,119 11,647,574 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 20,126 15,870 7,744,066 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 167,075 334,873 3,654,814 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ -- -- 1,139,746 ---------- ---------- -------------- $3,745,786 $3,834,072 $1,299,329,876 ========== ========== ============== EQ EQUITY500 EQ/EVERGREEN INDEX EQ/EVERGREEN FOUNDATION ----------------- -------------- ------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ 658,499,126 $1,196,281 $1,169,591 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 46,781,674 25,701 12,916 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 72,663,803 17,948 2,029 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ 565,323 -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ 1,023,022 -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 590,474,613 485,439 396,291 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 1,126,322 1,740 507 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 28,236,673 305,707 220,473 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 6,148,646 147 12,234 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 7,561,525 74,326 274,400 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ 6,494,912 -- -- -------------- ---------- ---------- $1,419,575,639 $2,107,289 $2,088,441 ============== ========== ==========
FSA-51 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (CONTINUED)
EQ/JANUS LARGE CAP EQ/PUTNAM GROWTH BALANCED ------------- ------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............. $10,107,746 $18,273,370 Net assets attributable to Old Contracts in accumulation period ......................... -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period ............ -- -- Net assets attributable to Momentum Contracts in accumulation period ............ 29,468 431,517 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period...... 33,539 898,627 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period...... -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ...... -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ......................... 3,834,026 18,758,862 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ...................................... 4,447 79,079 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ......................... 1,041,624 1,076,770 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ...................................... 29,945 100,130 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ......................... 1,017,156 543,977 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ...................................... -- -- ----------- ----------- $16,097,951 $40,162,332 =========== =========== EQ/PUTNAM GROWTH EQ/PUTNAM EQ/PUTNAM & INCOME INTERNATIONAL INVESTORS VALUE EQUITY GROWTH FI MID CAP ------------- --------------- ---------- -------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............. $34,266,886 $ -- $ -- $ 6,146,076 Net assets attributable to Old Contracts in accumulation period ......................... -- -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period ............ -- -- -- -- Net assets attributable to Momentum Contracts in accumulation period ............ 449,495 855,921 206,471 45,860 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period...... 1,648,599 413,812 219,230 26,808 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period...... -- 5,937 -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ...... -- -- -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ......................... 34,261,576 -- -- 2,476,648 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ...................................... 138,811 -- -- 3,834 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ......................... 1,776,410 -- -- 880,502 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ...................................... 184,107 -- -- 808 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ......................... 586,727 -- -- 688,784 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ...................................... -- -- -- -- ----------- --------- -------- ----------- $73,312,611 $1,275,670 $425,701 $10,269,320 =========== ========== ======== ===========
FSA-52 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (CONTINUED)
LAZARD FI SMALL/MID LARGE CAP LAZARD CAP VALUE VALUE SMALL CAP VALUE -------------- ----------- ---------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $35,044,250 $ -- $ -- Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 526,361 43,826 73,306 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 941,717 40,103 45,693 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ -- -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 33,576,738 -- -- Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 66,159 -- -- Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 1,179,040 -- -- Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 296,516 -- -- Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 1,437,251 -- -- Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ -- -- -- ---------- ------ ------ $73,068,032 $83,929 $118,999 =========== ======= ======== MERCURY BASIC MERCURY MFS EMERGING VALUE WORLD GROWTH EQUITY STRATEGY COMPANIES --------------- -------------- --------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ 48,766,805 $ 5,511,543 $475,330,211 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 1,426,367 124,757 13,005,041 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 2,245,471 227,412 20,965,816 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ -- -- 100,977 Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ -- -- 190,281 Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 55,526,028 5,291,673 346,686,503 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 157,877 12,387 1,215,315 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 5,230,297 558,565 40,991,674 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 233,587 49,837 2,237,083 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 3,388,730 493,331 22,981,683 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ -- -- -- ---------- --------- ----------- $116,975,162 $12,269,505 $923,704,584 ============ =========== ============
FSA-53 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 5. Net Assets (Concluded)
MORGAN STANLEY T. ROWE T. ROWE MFS GROWTH EMERGING PRICE PRICE WITH MFS MARKETS EQUITY INTERNATIONAL INCOME RESEARCH EQUITY INCOME STOCK ------------- --------------- ------------- --------------- -------------- Net assets attributable to EQUI-VEST Contracts in accumulation period ............... $ 3,806,392 $ 96,948,656 $ 36,486,274 $ 62,616,548 $ 51,334,148 Net assets attributable to Old Contracts in accumulation period ........................... -- -- -- -- -- Net assets attributable to EQUIPLAN Contracts in accumulation period .............. -- -- -- -- -- Net assets attributable to Momentum Contracts in accumulation period .............. 68,667 1,795,956 1,124,768 824,023 945,730 Net assets attributable to Momentum Plus Contracts 135 BP in accumulation period........ 90,029 4,000,363 1,668,350 2,444,923 1,874,272 Net assets attributable to Momentum Plus Contracts 100 BP in accumulation period........ -- -- 6,296 -- -- Net assets attributable to Momentum Plus Contracts 90 BP in accumulation period ........ 29,913 -- -- -- -- Net assets attributable to EQUI-VEST Series 300 & 400 Contracts 134 BP in accumulation period ........................... 3,141,294 104,233,057 23,978,565 59,704,919 48,194,687 Net assets attributable to EQUI-VEST Series 500 Contracts 145 BP in accumulation period ........................................ 3,643 387,016 75,916 83,121 109,287 Net assets attributable to EQUI-VEST Series 600 & 800 Contracts 120 BP in accumulation period ........................... 1,702,914 9,462,342 3,918,083 1,421,694 4,152,716 Net assets attributable to EQUI-VEST Series 600 Contracts 90 BP in accumulation period ........................................ 2,544 682,249 251,498 441,548 409,849 Net assets attributable to EQUI-VEST Express Series 700 Contracts 95 BP in accumulation period ........................... 1,268,658 6,104,699 2,499,197 909,070 4,320,977 Net assets attributable to actuarial reserves, financial reserves, and other contract liabilities attributable to Contracts in payout ........................................ -- -- -- -- -- --------- ----------- ---------- ---------- ---------- $10,114,054 $223,614,338 $70,008,947 $128,445,846 $111,341,666 =========== ============ =========== ============ ============
FSA-54 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 6. Amounts retained by Equitable Life in Separate Account A The amount retained by Equitable Life in the Account arises principally from (1) contributions from Equitable Life, (2) mortality risk, death benefit, expense and expense risk charges accumulated in the account, and (3) that portion, determined ratably, of the Account's investment results applicable to those assets in the Account in excess of the net assets for the Contracts. Amounts retained by Equitable Life are not subject to charges for mortality and expense risks and asset-based administrative expenses. Amounts retained by Equitable Life in the Account may be transferred at any time by Equitable Life to its General Account. The following table shows the contributions (withdrawals) in net amounts retained by Equitable Life by investment fund:
YEARS ENDED DECEMBER 31, ----------------------------------- VARIABLE INVESTMENT OPTION 2000 1999 -------------------------- ----------------- ----------------- Alliance Common Stock ........................... (130,360,591) (121,476,252) Alliance Conservative Investors ................. (2,369,370) (1,736,098) Alliance Global ................................. (13,355,009) (10,920,548) Alliance Growth and Income ...................... (12,766,341) (10,200,561) Alliance Growth Investors ....................... (14,628,985) (12,883,156) Alliance High Yield ............................. (1,844,834) (2,404,593) Alliance Intermediate Government Securities ..... (630,337) (802,521) Alliance International .......................... (2,330,256) (1,660,381) Alliance Money Market ........................... (4,464,058) (1,547,729) Alliance Quality Bond ........................... (669,083) (1,005,712) Alliance Small Cap Growth ....................... (5,017,072) (1,178,363) Calvert Socially Responsible .................... (12,464) 1,999,222 Capital Guardian International (1) .............. (24,823) -- Capital Guardian Research ....................... (39,248) 23,701 Capital Guardian U.S. Equity .................... (33,918) 22,190 EQ/Aggressive Stock ............................. (37,107,017) (39,082,247) EQ/Alliance Premier Growth ...................... (3,308,631) (189,943) EQ/Alliance Technology (1) ...................... (200,180) -- EQ/AXP New Dimensions (2) ....................... 494,271 -- EQ/AXP Strategy Aggressive (2) .................. 494,551 -- EQ/Balanced ..................................... (20,680,487) (19,614,445) EQ Equity 500 Index ............................. (21,151,877) (19,773,678) EQ/Evergreen .................................... (20,113) 24,040 EQ/Evergreen Foundation ......................... (12,508) 24,827 EQ/Janus Large Cap Growth (2) ................... 474,835 -- EQ/Putnam Balanced .............................. (526,780) (613,248) EQ/Putnam Growth & Income Value ................. (974,926) (1,248,568) EQ/Putnam International Equity .................. (13,571) -- EQ/Putnam Investors Growth ...................... (5,186) -- FI Mid Cap (2) .................................. 486,910 -- FI Small/Mid Cap Value .......................... (899,478) (1,075,981) Lazard Large Cap Value .......................... (742) -- Lazard Small Cap Value .......................... (767) -- Mercury Basic Value Equity ...................... (1,391,990) (1,054,765) Mercury World Strategy .......................... (2,074,134) (134,654) MFS Emerging Growth Companies ................... (13,711,416) (4,742,770) MFS Growth with Income .......................... (76,661) 21,065 MFS Research .................................... (2,807,642) (1,891,032) Morgan Stanley Emerging Markets Equity .......... (1,647,600) (3,733,004) T. Rowe Price Equity Income ..................... (1,668,600) (2,027,611) T. Rowe Price International Stock ............... (1,614,648) (1,126,238)
---------- (1) Commenced operations May 2, 2000. (2) Commenced operations September 5, 2000. FSA-55 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values Shown below is accumulation unit value information for units outstanding.
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE COMMON STOCK -- OLD CONTRACTS ---------------------------------------------- Unit value, beginning of period .............. $ 506.59 $ 407.19 $ 316.64 $ 246.57 ======== ======== ======== ======== Unit value, end of period .................... $ 433.23 $ 506.59 $ 407.19 $ 316.64 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 206 231 264 307 ======== ======== ======== ======== EQUI-VEST CONTRACTS (A) ----------------------------------------------- Unit value, beginning of period .............. $ 399.74 $ 323.75 $ 253.68 $ 199.05 ======== ======== ======== ======== Unit value, end of period .................... $ 339.28 $ 399.74 $ 323.75 $ 253.68 ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ....................... 15,685 16,705 17,231 17,386 ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ....................... 499 553 591 519 ======== ======== ======== ======== EQUIPLAN CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 548.74 $ 441.07 $ 342.99 $ 267.08 ======== ======== ======== ======== Unit value, end of period .................... $ 469.28 $ 548.74 $ 441.07 $ 342.99 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 61 66 70 85 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 326.31 $ 264.22 $ 207.00 $ 162.39 ======== ======== ======== ======== Unit value, end of period .................... $ 276.76 $ 326.32 $ 264.22 $ 207.00 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 792 1,032 1,133 1,192 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 255.67 $ 206.28 $ 161.04 $ 125.89 ======== ======== ======== ======== Unit value, end of period .................... $ 217.61 $ 255.67 $ 206.28 $ 161.04 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 9 16 40 37 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ---------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ------------ ------------ ------------ ------------ ----------- ALLIANCE COMMON STOCK -- OLD CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 199.66 $ 151.67 $ 155.96 $ 125.72 $ 122.56 $ 89.56 ======== ======== ======== ======== ======== ======== Unit value, end of period .................... $ 246.57 $ 199.66 $ 151.67 $ 155.96 $ 125.72 $ 122.56 ======== ======== ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 345 387 438 467 525 598 ======== ======== ======== ======== ======== ======== EQUI-VEST CONTRACTS (A) ----------------------------------------------- Unit value, beginning of period .............. $ 162.42 $ 124.32 $ 128.81 $ 104.63 $ 102.76 $ 75.67 ======== ======== ======== ======== ======== ======== Unit value, end of period .................... $ 199.05 $ 162.42 $ 124.32 $ 128.81 $ 104.63 $ 102.76 ======== ======== ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ....................... 16,933 16,292 15,749 13,917 11,841 10,292 ======== ======== ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ....................... 403 270 120 -- -- -- ======== ======== ======== ======== ======== ======== EQUIPLAN CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 216.27 $ 164.29 $ 168.93 $ 136.10 $ 132.67 $ 96.95 ======== ======== ======== ======== ======== ======== Unit value, end of period .................... $ 267.08 $ 216.27 $ 164.29 $ 168.93 $ 136.10 $ 132.67 ======== ======== ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 96 108 119 124 135 144 ======== ======== ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 132.47 $ 101.38 $ 105.01 $ 100.00 ======== ======== ======== ======== Unit value, end of period .................... $ 162.39 $ 132.47 $ 101.38 $ 105.01 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1,039 706 330 12 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 125.89 ======== Number of units outstanding, end of period (000's) ..................................... 140 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-56 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ----------- ALLIANCE COMMON STOCK -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ---------------------------------------------- Unit value, beginning of period .............. $ 236.14 $ 190.33 $ 148.44 $ 115.92 ======== ======== ======== ======== Unit value, end of period .................... $ 201.19 $ 236.14 $ 190.33 $ 148.44 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 9 8 7 5 ======== ======== ======== ======== EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 312.31 $ 252.88 $ 198.12 $ 155.42 ======== ======== ======== ======== Unit value, end of period .................... $ 264.88 $ 312.31 $ 252.88 $ 198.12 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 6,233 6,502 5,808 4,765 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 126.91 $ 102.87 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 107.53 $ 126.91 $ 102.87 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 24 19 5 ======== ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 126.92 $ 102.87 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 107.54 $ 126.92 $ 102.87 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 702 105 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 130.14 $ 100.00 ======== ======== Unit value, end of period .................... $ 110.60 $ 130.14 ======== ======== Number of units outstanding, end of period (000's) ..................................... 224 233 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ------------ ------------ --------- ------- --------- ALLIANCE COMMON STOCK -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 126.78 $ 97.03 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 155.42 $ 126.78 $ 97.03 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3,457 1,989 948 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-57 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------ 2000 1999 1998 1997 ------------ ------------ ------------ --------- ALLIANCE COMMON STOCK -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 111.02 $ 100.00 ======== ======== Unit value, end of period ................ $ 94.30 $ 111.02 ======== ======== Number of units outstanding, end of period (000's) ................................. 296 25 ======== ======== ALLIANCE CONSERVATIVE INVESTORS -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 159.92 $ 147.17 $ 130.98 $ 117.25 ======== ======== ======== ======== Unit value, end of period ................ $ 163.32 $ 159.92 $ 147.17 $ 130.98 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 20 22 24 22 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 156.79 $ 144.30 $ 128.45 $ 114.99 ======== ======== ======== ======== Unit value, end of period ................ $ 160.10 $ 156.79 $ 144.30 $ 128.45 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 66 100 121 125 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 150.86 $ 138.35 $ 122.71 $ 109.47 ======== ======== ======== ======== Unit value, end of period ................ $ 154.59 $ 150.86 $ 138.35 $ 122.71 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- 4 5 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 159.92 $ 147.17 $ 130.98 $ 117.25 ======== ======== ======== ======== Unit value, end of period ................ $ 163.32 $ 159.92 $ 147.17 $ 130.98 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 752 752 661 553 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ------------ ------------ ------------ ---------- --------- ALLIANCE COMMON STOCK -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE CONSERVATIVE INVESTORS -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 112.97 $ 95.10 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 117.25 $ 112.97 $ 95.10 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 18 11 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 110.81 $ 93.29 $ 98.60 $ 100.00 ======== ======== ======== ======== Unit value, end of period ................ $ 114.99 $ 110.81 $ 93.29 $ 98.60 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 136 129 92 10 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 109.47 ======== Number of units outstanding, end of period (000's) ................................. 5 ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 112.97 $ 95.10 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 117.25 $ 112.97 $ 95.10 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 567 491 325 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-58 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE CONSERVATIVE INVESTORS -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 111.52 $ 102.74 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 113.76 $ 111.52 $ 102.74 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 111.53 $ 102.74 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 113.77 $ 111.53 $ 102.74 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 68 6 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 112.84 $ 100.00 ======== ======== Unit value, end of period ................ $ 115.46 $ 112.84 ======== ======== Number of units outstanding, end of period (000's) ................................. 4 3 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 104.41 $ 100.00 ======== ======== Unit value, end of period ................ $ 106.78 $ 104.41 ======== ======== Number of units outstanding, end of period (000's) ................................. 34 4 ======== ======== ALLIANCE GLOBAL -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 249.43 $ 182.50 $ 151.87 $ 138.00 ======== ======== ======== ======== Unit value, end of period ................ $ 200.17 $ 249.43 $ 182.50 $ 151.87 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 151 156 156 147 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ------------ ------------ ---------- ------- ------ ALLIANCE CONSERVATIVE INVESTORS -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE GLOBAL -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 122.06 $ 104.12 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 138.00 $ 122.06 $ 104.12 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 116 62 16 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-59 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GLOBAL -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (B) ---------------------------------------------- Unit value, beginning of period .............. $ 253.89 $ 185.78 $ 154.12 $ 140.51 ======== ======== ======== ======== Unit value, end of period .................... $ 203.73 $ 253.89 $ 185.78 $ 154.12 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 265 353 408 464 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 212.51 $ 154.96 $ 128.51 $ 116.37 ======== ======== ======== ======== Unit value, end of period .................... $ 171.13 $ 212.51 $ 154.96 $ 128.51 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 3 11 12 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. $ 202.36 $ 147.40 $ 122.12 $ 110.47 ======== ======== ======== ======== Unit value, end of period .................... $ 163.12 $ 202.36 $ 147.40 $ 122.12 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 4 4 3 2 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 249.43 $ 182.50 $ 151.87 $ 138.00 ======== ======== ======== ======== Unit value, end of period .................... $ 200.17 $ 249.43 $ 182.50 $ 151.87 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3,712 3,509 3,395 3,369 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 134.30 $ 98.37 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 107.66 $ 134.30 $ 98.37 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 2 -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ---------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ------------ ------------ ------------ ------------ ----------- ALLIANCE GLOBAL -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 124.30 $ 106.04 $ 102.14 $ 100.00 ======== ======== ======== ======== Unit value, end of period .................... $ 140.51 $ 124.30 $ 106.04 $ 102.14 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 459 391 223 8 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 116.37 ======== Number of units outstanding, end of period (000's) ..................................... 13 ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 122.06 $ 104.12 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 138.00 $ 122.06 $ 104.12 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2,995 2,121 1,305 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-60 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GLOBAL -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 134.29 $ 98.37 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 107.66 $ 134.29 $ 98.37 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 181 20 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 139.76 $ 100.00 ======== ======== Unit value, end of period ................ $ 112.39 $ 139.76 ======== ======== Number of units outstanding, end of period (000's) ................................. 15 13 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 119.52 $ 100.00 ======== ======== Unit value, end of period ................ $ 96.06 $ 119.52 ======== ======== Number of units outstanding, end of period (000's) ................................. 109 9 ======== ======== ALLIANCE GROWTH AND INCOME -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 250.31 $ 213.81 $ 179.30 $ 143.37 ======== ======== ======== ======== Unit value, end of period ................ $ 269.09 $ 250.31 $ 213.81 $ 179.30 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 113 109 96 69 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 250.67 $ 214.14 $ 179.60 $ 143.63 ======== ======== ======== ======== Unit value, end of period ................ $ 269.45 $ 250.67 $ 214.14 $ 179.60 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 183 217 209 183 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------- ----------------- 1996 1995 1994 1993 1992 1991 ---------- ----------- ----------- ------------ ------------ ----------- ALLIANCE GLOBAL -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE GROWTH AND INCOME -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 121.02 $ 98.86 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 143.37 $ 121.02 $ 98.86 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 41 17 4 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 121.25 $ 99.06 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 143.63 $ 121.25 $ 99.06 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 121 67 9 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-61 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GROWTH AND INCOME -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ---------------------------------------------- Unit value, beginning of period .............. $ 218.04 $ 185.60 $ 155.11 $ 123.61 ======== ======== ======== ======== Unit value, end of period .................... $ 235.21 $ 218.04 $ 185.60 $ 155.11 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 3 6 3 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. $ 204.92 $ 174.26 $ 145.48 $ 115.81 ======== ======== ======== ======== Unit value, end of period .................... $ 221.27 $ 204.92 $ 174.26 $ 145.48 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 2 2 1 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 250.31 $ 213.81 $ 179.30 $ 143.37 ======== ======== ======== ======== Unit value, end of period .................... $ 269.09 $ 250.31 $ 213.81 $ 179.30 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3,352 3,095 2,475 1,800 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 120.13 $ 102.73 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 129.00 $ 120.13 $ 102.73 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 5 4 1 ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 120.14 $ 102.73 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 129.01 $ 120.14 $ 102.73 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 262 37 -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ----------- ------------ ------ ------ ----- ALLIANCE GROWTH AND INCOME -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 123.61 ======== Number of units outstanding, end of period (000's) ..................................... 3 ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 121.02 $ 98.86 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 143.37 $ 121.02 $ 98.86 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 975 498 210 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-62 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (CONTINUED)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GROWTH AND INCOME -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------ Unit value, beginning of period .......... $ 122.29 $ 100.00 ======== ======== Unit value, end of period ................ $ 131.71 $ 122.29 ======== ======== Number of units outstanding, end of period (000's) ................................. 16 14 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 103.87 $ 100.00 ======== ======== Unit value, end of period ................ $ 111.81 $ 103.87 ======== ======== Number of units outstanding, end of period (000's) ................................. 145 14 ======== ======== ALLIANCE GROWTH INVESTORS -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 225.59 $ 180.63 $ 153.69 $ 133.40 ======== ======== ======== ======== Unit value, end of period ................ $ 207.65 $ 225.59 $ 180.63 $ 153.69 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 162 165 159 147 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 228.14 $ 182.69 $ 155.46 $ 134.95 ======== ======== ======== ======== Unit value, end of period ................ $ 209.98 $ 228.14 $ 182.69 $ 155.46 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 336 427 509 553 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 199.83 $ 159.46 $ 135.20 $ 116.95 ======== ======== ======== ======== Unit value, end of period ................ $ 184.57 $ 199.83 $ 159.46 $ 135.20 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 4 6 15 14 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, -------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ----------- ---------- --------- --------- --------- ALLIANCE GROWTH AND INCOME -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE GROWTH INVESTORS -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 120.08 $ 96.31 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 133.40 $ 120.08 $ 96.31 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 110 57 10 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 121.49 $ 97.45 $ 101.99 $ 100.00 ======== ======== ======== ======== Unit value, end of period ................ $ 134.95 $ 121.49 $ 97.45 $ 101.99 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 508 375 188 13 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 116.95 ======== Number of units outstanding, end of period (000's) ................................. 15 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-63 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (CONTINUED)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GROWTH INVESTORS -- (Continued) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ---------------------------------------------- Unit value, beginning of period .............. $ 187.67 $ 149.61 $ 126.72 $ 109.51 ======== ======== ======== ======== Unit value, end of period .................... $ 173.52 $ 187.67 $ 149.61 $ 126.72 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 2 2 1 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (M) ----------------------------------------------- Unit value, beginning of period .............. $ 225.59 $ 180.63 $ 153.69 $ 133.40 ======== ======== ======== ======== Unit value, end of period .................... $ 207.65 $ 225.59 $ 180.63 $ 153.69 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 4,354 4,231 3,962 3,704 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 127.16 $ 101.93 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 116.92 $ 127.16 $ 101.93 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 2 1 ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 127.17 $ 101.93 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 116.93 $ 127.17 $ 101.93 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 222 21 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 129.93 $ 100.00 ======== ======== Unit value, end of period .................... $ 119.83 $ 129.93 ======== ======== Number of units outstanding, end of period (000's) ..................................... 22 18 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ----------- ----------- --------- --------- --------- ALLIANCE GROWTH INVESTORS -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (M) ----------------------------------------------- Unit value, beginning of period .............. $ 120.08 $ 96.31 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 133.40 $ 120.08 $ 96.31 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3,325 2,113 1,023 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-64 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE GROWTH INVESTORS -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 112.30 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.52 $ 112.30 ======== ======== Number of units outstanding, end of period (000's) ................................. 101 10 ======== ======== ALLIANCE HIGH YIELD -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 143.43 $ 150.42 $ 160.74 $ 137.53 ======== ======== ======== ======== Unit value, end of period ................ $ 129.28 $ 143.43 $ 150.42 $ 160.74 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 32 34 37 29 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 153.05 $ 160.53 $ 171.56 $ 146.80 ======== ======== ======== ======== Unit value, end of period ................ $ 137.94 $ 153.05 $ 160.53 $ 171.56 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 66 82 100 110 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 134.31 $ 140.38 $ 149.49 $ 127.46 ======== ======== ======== ======== Unit value, end of period ................ $ 121.48 $ 134.31 $ 140.38 $ 149.49 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- 5 5 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ------------------------------------------- Unit value, beginning of period .......... $ 143.23 $ 150.42 $ 160.74 $ 137.53 ======== ======== ======== ======== Unit value, end of period ................ $ 129.28 $ 143.43 $ 150.42 $ 160.74 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 800 998 1,164 831 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, -------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ---------- ----------- ---------- --------- --------- --------- ALLIANCE GROWTH INVESTORS -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE HIGH YIELD -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 113.44 $ 95.88 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 137.53 $ 113.44 $ 95.88 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 18 7 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 121.10 $ 102.37 $ 106.74 $ 100.00 ======== ======== ======== ======== Unit value, end of period ................ $ 146.80 $ 121.10 $ 102.37 $ 106.74 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 94 70 38 1 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 127.46 ======== Number of units outstanding, end of period (000's) ................................. 5 ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ------------------------------------------- Unit value, beginning of period .......... $ 113.44 $ 95.88 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 137.53 $ 113.44 $ 95.88 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 444 209 99 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-65 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE HIGH YIELD -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 84.96 $ 89.20 $ 100.00 ======= ======== ======== Unit value, end of period .................... $ 76.49 $ 84.96 $ 89.20 ======= ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======= ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 84.97 $ 89.20 $ 100.00 ======= ======== ======== Unit value, end of period .................... $ 78.49 $ 84.97 $ 89.20 ======= ======== ======== Number of units outstanding, end of period (000's) ..................................... 28 5 -- ======= ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 85.66 $ 100.00 ======= ======== Unit value, end of period .................... $ 77.34 $ 85.66 ======= ======== Number of units outstanding, end of period (000's) ..................................... 5 5 ======= ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 99.34 $ 100.00 ======= ======== Unit value, end of period .................... $ 89.64 $ 99.34 ======= ======== Number of units outstanding, end of period (000's) ..................................... 23 4 ======= ======== ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- EQUIPLAN CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 58.63 $ 58.81 $ 54.83 $ 51.34 ======= ======== ======== ======= Unit value, end of period .................... $ 63.74 $ 58.63 $ 58.81 $ 54.83 ======= ======== ======== ======= Number of units outstanding, end of period (000's) ..................................... 40 43 45 50 ======= ======== ======== ======= ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, --------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ---------- ----------- ---------- ---------- --------- ----------- ALLIANCE HIGH YIELD -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- EQUIPLAN CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 49.69 $ 44.04 $ 46.25 $ 42.04 $ 40.00 $ 35.17 ======= ======= ======= ======= ======= ======= Unit value, end of period .................... $ 51.34 $ 49.69 $ 44.04 $ 46.25 $ 42.04 $ 40.00 ======= ======= ======= ======= ======= ======= Number of units outstanding, end of period (000's) ..................................... 55 50 54 58 66 74 ======= ======= ======= ======= ======= ======= ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-66 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- (CONTINUED) MOMENTUM CONTRACTS (D) ---------------------------------------------- Unit value, beginning of period .............. $ 124.96 $ 126.48 $ 118.98 $ 112.40 ======== ======== ======== ======== Unit value, end of period .................... $ 134.60 $ 124.96 $ 126.48 $ 118.98 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 12 14 11 10 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 120.52 $ 122.00 $ 114.78 $ 108.45 ======== ======== ======== ======== Unit value, end of period .................... $ 129.80 $ 120.52 $ 122.00 $ 114.78 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 34 63 76 77 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 118.78 $ 119.81 $ 112.32 $ 105.75 ======== ======== ======== ======== Unit value, end of period .................... $ 128.38 $ 118.78 $ 119.81 $ 112.32 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- 4 2 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ----------------------------------------------- Unit value, beginning of period .............. $ 124.96 $ 126.48 $ 118.98 $ 112.40 ======== ======== ======== ======== Unit value, end of period .................... $ 134.60 $ 124.96 $ 126.48 $ 118.98 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 309 360 314 202 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 101.96 $ 103.32 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 109.70 $ 101.96 $ 103.32 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ---------- ----------- ---------- ---------- --------- ----------- ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- (CONTINUED) MOMENTUM CONTRACTS (D) ----------------------------------------------- Unit value, beginning of period .............. $ 109.80 $ 98.19 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 112.40 $ 109.80 $ 98.19 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 10 7 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 105.94 $ 94.76 $ 100.44 $ 100.00 ======== ======== ======== ======== Unit value, end of period .................... $ 108.45 $ 105.94 $ 94.76 $ 100.44 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 81 88 64 1 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 105.75 ======== Number of units outstanding, end of period (000's) ..................................... 2 ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ----------------------------------------------- Unit value, beginning of period .............. $ 109.80 $ 98.19 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 112.40 $ 109.80 $ 98.19 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 146 89 32 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-67 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- (CONCLUDED) EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 101.97 $ 103.32 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 109.71 $ 101.97 $ 103.32 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 16 1 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 102.33 $ 100.00 ======== ======== Unit value, end of period ................ $ 110.43 $ 102.33 ======== ======== Number of units outstanding, end of period (000's) ................................. 3 3 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 100.40 $ 100.00 ======== ======== Unit value, end of period ................ $ 108.29 $ 100.40 ======== ======== Number of units outstanding, end of period (000's) ................................. 10 3 ======== ======== ALLIANCE INTERNATIONAL -- MOMENTUM CONTRACTS (E) ------------------------------------------- Unit value, beginning of period .......... $ 160.04 $ 117.72 $ 107.92 $ 112.82 ======== ======== ======== ======== Unit value, end of period ................ $ 121.54 $ 160.04 $ 117.72 $ 107.92 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 39 37 37 32 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (E) ------------------------------------------- Unit value, beginning of period .......... $ 159.96 $ 117.68 $ 107.89 $ 112.81 ======== ======== ======== ======== Unit value, end of period ................ $ 121.48 $ 159.96 $ 117.68 $ 107.89 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 69 84 87 85 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------ 1996 1995 1994 1993 1992 1991 ---------- ----------- ---------- ---------- ---------- -------- ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES -- (CONCLUDED) EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE INTERNATIONAL -- MOMENTUM CONTRACTS (E) ------------------------------------------- Unit value, beginning of period .......... $ 104.15 $ 100.00 ======== ======== Unit value, end of period ................ $ 112.82 $ 104.15 ======== ======== Number of units outstanding, end of period (000's) ................................. 19 0 ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (E) ------------------------------------------- Unit value, beginning of period .......... $ 104.15 $ 100.00 ======== ======== Unit value, end of period ................ $ 112.81 $ 104.15 ======== ======== Number of units outstanding, end of period (000's) ................................. 54 3 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-68 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (CONTINUED)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE INTERNATIONAL -- (Continued) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ---------------------------------------------- Unit value, beginning of period .............. $ 161.88 $ 118.67 $ 108.42 $ 112.96 ======== ======== ======== ======== Unit value, end of period .................... $ 123.37 $ 161.88 $ 118.67 $ 108.42 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 3 4 3 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. $ 156.65 $ 114.73 $ 104.70 $ 108.98 ======== ======== ======== ======== Unit value, end of period .................... $ 119.50 $ 156.65 $ 114.73 $ 104.70 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 1 1 788 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (E) ----------------------------------------------- Unit value, beginning of period .............. $ 160.04 $ 117.72 $ 107.92 $ 112.83 ======== ======== ======== ======== Unit value, end of period .................... $ 121.54 $ 160.04 $ 117.72 $ 107.92 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1,028 926 971 968 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 126.29 $ 93.00 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 95.81 $ 126.29 $ 93.00 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 126.30 $ 93.00 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 95.90 $ 126.30 $ 93.00 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 36 3 -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ---------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ------------ ----------- ------- ------- ------- -------- ALLIANCE INTERNATIONAL -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 112.96 ======== Number of units outstanding, end of period (000's) ..................................... 21 ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (E) ----------------------------------------------- Unit value, beginning of period .............. $ 104.15 $ 100.00 ======== ======== Unit value, end of period .................... $ 112.83 $ 104.15 ======== ======== Number of units outstanding, end of period (000's) ..................................... 763 141 ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-69 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE INTERNATIONAL -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ---------------------------------------------- Unit value, beginning of period .............. $ 131.34 $ 100.00 ======== ======== Unit value, end of period .................... $ 100.03 $ 131.34 ======== ======== Number of units outstanding, end of period (000's) ..................................... 4 4 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 126.71 $ 100.00 ======== ======== Unit value, end of period .................... $ 96.46 $ 126.71 ======== ======== Number of units outstanding, end of period (000's) ..................................... 33 1 ======== ======== ALLIANCE MONEY MARKET -- OLD CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 38.35 $ 36.76 $ 35.12 $ 33.52 ======== ======== ======== ======== Unit value, end of period .................... $ 40.50 $ 38.35 $ 36.76 $ 35.12 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 97 116 117 119 ======== ======== ======== ======== EQUI-VEST CONTRACTS (A) ----------------------------------------------- Unit value, beginning of period .............. $ 31.63 $ 30.55 $ 29.41 $ 28.28 ======== ======== ======== ======== Unit value, end of period .................... $ 33.15 $ 31.63 $ 30.55 $ 29.41 ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ....................... 1,458 1,516 1,261 973 ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ....................... 385 469 367 308 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 125.06 $ 120.76 $ 116.21 $ 111.75 ======== ======== ======== ======== Unit value, end of period .................... $ 131.10 $ 125.06 $ 120.76 $ 116.21 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 231 331 322 325 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ------------ ------------ ALLIANCE INTERNATIONAL -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ALLIANCE MONEY MARKET -- OLD CONTRACTS ----------------------------------------------- Unit value, beginning of period .............. $ 32.00 $ 30.44 $ 29.43 $ 28.75 $ 27.92 $ 26.47 ======== ======== ======== ======== ======== ======== Unit value, end of period .................... $ 33.52 $ 32.00 $ 30.44 $ 29.43 $ 28.75 $ 27.92 ======== ======== ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 129 140 147 168 204 246 ======== ======== ======== ======== ======== ======== EQUI-VEST CONTRACTS (A) ----------------------------------------------- Unit value, beginning of period .............. $ 27.22 $ 26.08 $ 25.41 $ 25.01 $ 24.48 $ 23.38 ======== ======== ======== ======== ======== ======== Unit value, end of period .................... $ 28.28 $ 27.22 $ 26.08 $ 25.41 $ 25.01 $ 24.48 ======== ======== ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ....................... 1,013 1,021 1,000 1,065 1,201 1,325 ======== ======== ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ....................... 240 188 166 56 -- -- ======== ======== ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ----------------------------------------------- Unit value, beginning of period .............. $ 107.55 $ 103.10 $ 100.47 $ 100.00 ======== ======== ======== ======== Unit value, end of period .................... $ 111.75 $ 107.55 $ 103.10 $ 100.47 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 307 299 474 62 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-70 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE MONEY MARKET -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ---------------------------------------------- Unit value, beginning of period .............. $ 119.50 $ 114.98 $ 110.26 $ 105.65 ======== ======== ======== ======== Unit value, end of period .................... $ 125.71 $ 119.50 $ 114.98 $ 110.26 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 2 10 13 ======== ======== ======== ======== EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 124.47 $ 120.19 $ 115.66 $ 111.21 ======== ======== ======== ======== Unit value, end of period .................... $ 130.47 $ 124.47 $ 120.19 $ 115.66 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 297 360 262 146 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 105.20 $ 101.68 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 110.16 $ 105.20 $ 101.68 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 105.21 $ 101.68 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 110.19 $ 105.21 $ 101.68 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 57 17 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 105.79 $ 100.00 ======== ======== Unit value, end of period .................... $ 111.13 $ 105.79 ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 1 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ------------ ------------ ALLIANCE MONEY MARKET -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 105.65 ======== Number of units outstanding, end of period (000's) ..................................... 13 ======== EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 107.04 $ 102.61 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 111.21 $ 107.04 $ 102.61 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 165 81 63 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-71 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ALLIANCE MONEY MARKET--(CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 101.49 $ 100.00 ======== ======== Unit value, end of period ................ $ 106.56 $ 101.49 ======== ======== Number of units outstanding, end of period (000's) ................................. 139 43 ======== ======== ALLIANCE QUALITY BOND -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 125.76 $ 130.07 $ 121.30 $ 112.65 ======== ======== ======== ======== Unit value, end of period ................ $ 138.33 $ 125.76 $ 130.07 $ 121.30 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 15 15 15 10 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 132.67 $ 137.23 $ 127.99 $ 118.87 ======== ======== ======== ======== Unit value, end of period ................ $ 145.91 $ 132.67 $ 137.23 $ 127.99 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 37 41 47 37 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 122.77 $ 126.54 $ 117.60 $ 108.84 ======== ======== ======== ======== Unit value, end of period ................ $ 135.51 $ 122.77 $ 126.54 $ 117.60 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- 1 1 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ------------------------------------------- Unit value, beginning of period .......... $ 125.76 $ 130.07 $ 121.30 $ 112.65 ======== ======== ======== ======== Unit value, end of period ................ $ 138.33 $ 125.76 $ 130.07 $ 121.30 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 566 622 557 283 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ------------ ------------ ALLIANCE MONEY MARKET--(CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE QUALITY BOND -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 108.38 $ 93.87 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 112.65 $ 108.38 $ 93.87 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 7 4 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 114.38 $ 99.07 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 118.87 $ 114.38 $ 99.07 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 28 17 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 108.84 ======== Number of units outstanding, end of period (000's) ................................. 1 ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (C) ------------------------------------------- Unit value, beginning of period .......... $ 108.38 $ 93.87 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 112.65 $ 108.38 $ 93.87 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 196 135 53 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-72 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ----------- --------- ALLIANCE QUALITY BOND -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 100.08 $ 103.62 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 109.96 $ 100.08 $ 103.62 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 100.07 $ 103.62 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 110.03 $ 100.07 $ 103.62 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 27 4 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 100.33 $ 100.00 ======== ======== Unit value, end of period ................ $ 110.65 $ 100.33 ======== ======== Number of units outstanding, end of period (000's) ................................. 2 2 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 99.28 $ 100.00 ======== ======== Unit value, end of period ................ $ 109.43 $ 99.28 ======== ======== Number of units outstanding, end of period (000's) ................................. 26 4 ======== ======== ALLIANCE SMALL CAP GROWTH -- MOMENTUM CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... $ 149.64 $ 118.57 $ 125.55 $100.00 ======== ======== ======== ======= Unit value, end of period ................ $ 168.29 $ 149.64 $ 118.57 $125.55 ======== ======== ======== ======= Number of units outstanding, end of period (000's) ................................. 50 36 27 6 ======== ======== ======== ======= ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ------------ ------------ ALLIANCE QUALITY BOND -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ALLIANCE SMALL CAP GROWTH -- MOMENTUM CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-73 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ---------------------------------------- 2000 1999 1998 ------------ ----------- ------------ ALLIANCE SMALL CAP GROWTH -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (G) ---------------------------------------------- Unit value, beginning of period .............. $ 149.59 $ 118.55 $ 125.54 ======== ======== ======== Unit value, end of period .................... $ 168.23 $ 149.59 $ 118.55 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 48 34 41 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 151.02 $ 119.25 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 170.42 $ 151.02 $ 119.25 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 151.42 $ 119.45 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 171.05 $ 151.42 $ 119.45 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 1 ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 149.64 $ 118.57 $ 125.55 ======== ======== ======== Unit value, end of period .................... $ 168.29 $ 149.64 $ 118.57 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1,895 976 1,101 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 109.59 $ 86.93 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 123.11 $ 109.59 $ 86.93 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 1 1 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------ 1997 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ------------ ------------ --------- ALLIANCE SMALL CAP GROWTH -- (CONCLUDED) MOMENTUM PLUS CONTRACTS 135 B.P. (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 125.54 ======== Number of units outstanding, end of period (000's) ..................................... 8 ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 125.55 ======== Number of units outstanding, end of period (000's) ..................................... 488 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-74 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ----------- ---------- ------ ------ ------ ------ ------ ------ ----- ALLIANCE SMALL CAP GROWTH -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 109.62 $ 86.94 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 123.09 $ 109.62 $ 86.94 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 98 2 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 110.37 $ 100.00 ======== ======== Unit value, end of period ................ $ 124.31 $ 110.37 ======== ======== Number of units outstanding, end of period (000's) ................................. 12 5 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 130.79 $ 100.00 ======== ======== Unit value, end of period ................ $ 147.23 $ 130.79 ======== ======== Number of units outstanding, end of period (000's) ................................. 63 1 ======== ======== CALVERT SOCIALLY RESPONSIBLE -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 107.58 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.06 $ 107.58 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 107.57 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.04 $ 107.57 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-75 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- --------- -------- ------ ------ ------ ------ ------ ------ ----- CALVERT SOCIALLY RESPONSIBLE -- (CONCLUDED) MOMENTUM PLUS CONTRACTS 100 B.P. (J) ---------------------------------------------- Unit value, beginning of period .............. $ 107.72 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.54 $ 107.72 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 107.76 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.69 $ 107.76 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 107.55 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.06 $ 107.58 ======== ======== Number of units outstanding, end of period (000's) ..................................... 15 4 ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 107.64 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.26 $ 107.64 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 107.76 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.69 $ 107.76 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-76 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- --------- -------- ------ ------ ------ ------ ------ ------ ----- CAPITAL GUARDIAN INTERNATIONAL -- MOMENTUM CONTRACTS (J) ------------------------------------------ Unit value, beginning of period .......... $ 129.55 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.41 $ 129.55 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 129.55 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.40 $ 129.55 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 129.71 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.89 $ 129.71 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 129.76 $ 100.00 ======== ======== Unit value, end of period ................ $ 104.07 $ 129.76 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== CAPITAL GUARDIAN RESEARCH -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.78 $ 100.00 ======== ======== Unit value, end of period ................ $ 111.59 $ 106.78 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-77 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- --------- -------- ------ ------ ------ ------ ------ ------ ----- CAPITAL GUARDIAN RESEARCH -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (J) ---------------------------------------------- Unit value, beginning of period .............. $ 106.78 $ 100.00 ======== ======== Unit value, end of period .................... $ 111.57 $ 106.78 ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 106.92 $ 100.00 ======== ======== Unit value, end of period .................... $ 112.11 $ 106.92 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 106.96 $ 100.00 ======== ======== Unit value, end of period .................... $ 112.26 $ 106.96 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 106.78 $ 100.00 ======== ======== Unit value, end of period .................... $ 111.59 $ 106.78 ======== ======== Number of units outstanding, end of period (000's) ..................................... 44 8 ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 106.74 $ 100.00 ======== ======== Unit value, end of period .................... $ 111.42 $ 106.74 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-78 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- --------- -------- ------ ------ ------ ------ ------ ------ ----- CAPITAL GUARDIAN RESEARCH -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 106.84 $ 100.00 ======== ======== Unit value, end of period ................ $ 111.80 $ 106.84 ======== ======== Number of units outstanding, end of period (000's) ................................. 9 1 ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.96 $ 100.00 ======== ======== Unit value, end of period ................ $ 112.26 $ 106.96 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 106.94 $ 100.00 ======== ======== Unit value, end of period ................ $ 112.19 $ 106.94 ======== ======== Number of units outstanding, end of period (000's) ................................. 4 -- ======== ======== CAPITAL GUARDIAN U.S. EQUITY -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 101.64 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.88 $ 101.64 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 101.64 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.87 $ 101.64 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-79 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- --------- -------- ------ ------ ------ ------ ------ ------ ----- CAPITAL GUARDIAN U.S. EQUITY -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (J) ---------------------------------------------- Unit value, beginning of period .............. $ 101.77 $ 100.00 ======== ======== Unit value, end of period .................... $ 104.37 $ 101.77 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 101.81 $ 100.00 ======== ======== Unit value, end of period .................... $ 104.51 $ 101.81 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 101.64 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.88 $ 101.64 ======== ======== Number of units outstanding, end of period (000's) ..................................... 34 13 ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 101.60 $ 100.00 ======== ======== Unit value, end of period .................... $ 103.72 $ 101.60 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 101.69 $ 100.00 ======== ======== Unit value, end of period .................... $ 104.08 $ 101.69 ======== ======== Number of units outstanding, end of period (000's) ..................................... 11 1 ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 101.79 $ 100.00 ======== ======== Unit value, end of period .................... $ 104.51 $ 101.79 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-80 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------- 2000 1999 1998 1997 ---------- ---------- ---------- ------------ CAPITAL GUARDIAN U.S. EQUITY -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 101.79 $ 100.00 ======== ======== Unit value, end of period ................ $ 104.44 $ 101.79 ======== ======== Number of units outstanding, end of period (000's) ................................. 3 -- ======== ======== EQ/AGGRESSIVE STOCK -- EQUI-VEST CONTRACTS (A) ------------------------------------------- Unit value, beginning of period .......... $ 105.59 $ 89.92 $ 90.75 $ 82.91 ======== ======== ======== ======== Unit value, end of period ................ $ 90.70 $ 105.59 $ 89.92 $ 90.75 ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ................... 18,138 20,946 25,634 28,030 ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ................... 1,025 1,207 1,401 1,437 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 199.45 $ 170.12 $ 171.96 $ 157.31 ======== ======== ======== ======== Unit value, end of period ................ $ 170.92 $ 199.45 $ 170.12 $ 171.96 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 671 878 1,098 1,220 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 160.87 $ 136.73 $ 137.72 $ 125.54 ======== ======== ======== ======== Unit value, end of period ................ $ 138.35 $ 160.87 $ 136.73 $ 137.72 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 3 10 37 35 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ------------------------------------------- Unit value, beginning of period .......... $ 139.76 $ 118.68 $ 119.41 $ 108.74 ======== ======== ======== ======== Unit value, end of period ................ $ 120.32 $ 139.76 $ 118.68 $ 119.41 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 8 8 8 7 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------ 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ----------- ------------ CAPITAL GUARDIAN U.S. EQUITY -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQ/AGGRESSIVE STOCK -- EQUI-VEST CONTRACTS (A) ------------------------------------------- Unit value, beginning of period .......... $ 68.73 $ 52.88 $ 55.68 $ 48.30 $ 50.51 $ 27.36 ======== ======== ======== ======== ======== ========= Unit value, end of period ................ $ 82.91 $ 68.73 $ 52.88 $ 55.68 $ 48.30 $ 50.51 ======== ======== ======== ======== ======== ========= Number of EQUI-VEST units outstanding, end of period (000's) ................... 27,945 25,821 24,787 21,496 17,986 12,962 ======== ======== ======== ======== ======== ========= Number of Momentum units outstanding, end of period (000's) ................... 1,281 969 620 258 -- -- ======== ======== ======== ======== ======== ========= MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 130.50 $ 100.49 $ 105.90 $ 100.00 ======== ======== ======== ======== Unit value, end of period ................ $ 157.31 $ 130.50 $ 100.49 $ 105.90 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 1,070 718 350 12 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 125.54 ======== Number of units outstanding, end of period (000's) ................................. 109 ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-81 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ EQ/AGGRESSIVE STOCK -- (CONCLUDED) EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ---------------------------------------------- Unit value, beginning of period .............. $ 189.44 $ 161.59 $ 163.33 $ 149.41 ======== ======== ======== ======== Unit value, end of period .................... $ 162.34 $ 189.44 $ 161.59 $ 163.33 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2,607 2,980 3,342 3,226 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 105.69 $ 90.25 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 90.49 $ 105.69 $ 90.25 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 4 4 1 ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 105.70 $ 90.25 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 90.50 $ 105.70 $ 90.25 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 71 17 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 106.50 $ 100.00 ======== ======== Unit value, end of period .................... $ 91.46 $ 106.50 ======== ======== Number of units outstanding, end of period (000's) ..................................... 126 127 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 112.33 $ 100.00 ======== ======== Unit value, end of period .................... $ 96.42 $ 112.33 ======== ======== Number of units outstanding, end of period (000's) ..................................... 28 3 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ---------- ----------- ----------- --------- EQ/AGGRESSIVE STOCK -- (CONCLUDED) EQUI-VEST SERIES 300 AND 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 123.95 $ 95.45 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 149.41 $ 123.95 $ 95.45 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2,468 1,310 664 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-82 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/ALLIANCE PREMIER GROWTH -- MOMENTUM CONTRACTS (J) ---------------------------------------------- Unit value, beginning of period .............. $ 116.36 $ 100.00 ======== ======== Unit value, end of period .................... $ 93.70 $ 116.36 ======== ======== Number of units outstanding, end of period (000's) ..................................... 41 13 ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 116.36 $ 100.00 ======== ======== Unit value, end of period .................... $ 93.68 $ 116.36 ======== ======== Number of units outstanding, end of period (000's) ..................................... 23 6 ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 116.51 $ 100.00 ======== ======== Unit value, end of period .................... $ 94.14 $ 116.51 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 116.55 $ 100.00 ======== ======== Unit value, end of period .................... $ 94.27 $ 116.55 ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 116.36 $ 100.00 ======== ======== Unit value, end of period .................... $ 93.70 $ 116.36 ======== ======== Number of units outstanding, end of period (000's) ..................................... 2,596 887 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-83 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/ALLIANCE PREMIER GROWTH -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 116.32 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.56 $ 116.32 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 -- ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 116.42 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.88 $ 116.42 ======== ======== Number of units outstanding, end of period (000's) ................................. 350 36 ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 116.55 $ 100.00 ======== ======== Unit value, end of period ................ $ 94.27 $ 116.55 ======== ======== Number of units outstanding, end of period (000's) ................................. 6 1 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 116.53 $ 100.00 ======== ======== Unit value, end of period ................ $ 94.20 $ 116.53 ======== ======== Number of units outstanding, end of period (000's) ................................. 242 21 ======== ======== EQ/ALLIANCE TECHNOLOGY -- MOMENTUM CONTRACTS (N) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 66.10 ======== Number of units outstanding, end of period (000's) ................................. 17 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-84 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ------ ------ ----- ----- EQ/ALLIANCE TECHNOLOGY -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (N) ---------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 66.10 ======== Number of units outstanding, end of period (000's) ..................................... 10 ======== MOMENTUM PLUS CONTRACTS 100 B.P. (N) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 66.26 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (N) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 66.10 ======== Number of units outstanding, end of period (000's) ..................................... 1,313 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (N) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 66.05 ======== Number of units outstanding, end of period (000's) ..................................... 1 ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (N) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 66.17 ======== Number of units outstanding, end of period (000's) ..................................... 128 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-85 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------ 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 -------- ------ ------ ------ ------ ------ ------ ------ ----- ----- EQ/ALLIANCE TECHNOLOGY -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (N) ------------------------------------------ Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 66.31 ======== Number of units outstanding, end of period (000's) ................................. 5 ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (N) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 66.29 ======== Number of units outstanding, end of period (000's) ................................. 92 ======== EQ/AXP NEW DIMENSIONS -- MOMENTUM CONTRACTS (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 82.87 ======== Number of units outstanding, end of period (000's) ................................. -- ======== MOMENTUM PLUS CONTRACTS 135 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 82.87 ======== Number of units outstanding, end of period (000's) ................................. -- ======== MOMENTUM PLUS CONTRACTS 100 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 82.96 ======== Number of units outstanding, end of period (000's) ................................. -- ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-86 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ------ ------ ----- ----- EQ/AXP NEW DIMENSIONS -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (O) ---------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 82.87 ======== Number of units outstanding, end of period (000's) ..................................... 41 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 82.84 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 82.91 ======== Number of units outstanding, end of period (000's) ..................................... 2 ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 82.99 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 82.97 ======== Number of units outstanding, end of period (000's) ..................................... 2 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-87 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ------ ------ ----- ----- EQ/AXP STRATEGY AGGRESSIVE -- MOMENTUM CONTRACTS (O) ------------------------------------------ Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.12 ======== Number of units outstanding, end of period (000's) ................................. -- ======== MOMENTUM PLUS CONTRACTS 135 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.12 ======== Number of units outstanding, end of period (000's) ................................. -- ======== MOMENTUM PLUS CONTRACTS 100 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.19 ======== Number of units outstanding, end of period (000's) ................................. -- ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.12 ======== Number of units outstanding, end of period (000's) ................................. 54 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.10 ======== Number of units outstanding, end of period (000's) ................................. -- ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-88 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------ 2000 1999 1998 1997 ------------ -------- ------------ ------------ EQ/AXP STRATEGY AGGRESSIVE -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (O) ------------------------------------------ Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.15 ======== Number of units outstanding, end of period (000's) ................................. 2 ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.21 ======== Number of units outstanding, end of period (000's) ................................. -- ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 62.20 ======== Number of units outstanding, end of period (000's) ................................. 5 ======== EQ/BALANCED -- EQUI-VEST CONTRACTS (A) ------------------------------------------- Unit value, beginning of period .......... $ 52.39 $ 45.07 $ 38.66 $ 34.06 ======== ======== ======== ======== Unit value, end of period ................ $ 51.10 $ 52.39 $ 45.07 $ 38.66 ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ................... 20,413 22,434 24,361 26,036 ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ................... 723 865 986 1,052 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 184.34 $ 158.63 $ 136.14 $ 120.01 ======== ======== ======== ======== Unit value, end of period ................ $ 179.45 $ 184.34 $ 158.63 $ 136.14 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 244 321 375 439 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ----------- ----------- ----------- ----------- EQ/AXP STRATEGY AGGRESSIVE -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQ/BALANCED -- EQUI-VEST CONTRACTS (A) ------------------------------------------- Unit value, beginning of period .......... $ 30.92 $ 26.18 $ 28.85 $ 26.04 $ 27.17 $ 19.40 ======== ======== ======== ======== ======== ======== Unit value, end of period ................ $ 34.06 $ 30.92 $ 26.18 $ 28.85 $ 26.04 $ 27.17 ======== ======== ======== ======== ======== ======== Number of EQUI-VEST units outstanding, end of period (000's) ................... 28,319 30,212 32,664 31,259 25,975 21,100 ======== ======== ======== ======== ======== ======== Number of Momentum units outstanding, end of period (000's) ................... 1,057 957 776 348 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (B) ------------------------------------------- Unit value, beginning of period .......... $ 108.95 $ 92.22 $ 101.63 $ 100.00 ======== ======== ======== ======== Unit value, end of period ................ $ 120.01 $ 108.95 $ 92.22 $ 101.63 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 417 336 188 9 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-89 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ EQ/BALANCED -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ---------------------------------------------- Unit value, beginning of period .............. $ 177.22 $ 151.97 $ 129.97 $ 114.16 ======== ======== ======== ======== Unit value, end of period .................... $ 173.14 $ 177.22 $ 151.97 $ 129.97 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- 1 11 10 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. $ 167.63 $ 143.60 $ 122.68 $ 100.00 ======== ======== ======== ======== Unit value, end of period .................... $ 163.93 $ 167.63 $ 143.60 $ 122.68 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 1 1 1 ======== ======== ======== ======== EQUI-VEST SERIES 300 THROUGH 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 183.18 $ 157.63 $ 135.29 $ 119.26 ======== ======== ======== ======== Unit value, end of period .................... $ 178.32 $ 183.18 $ 157.63 $ 135.29 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 846 854 752 655 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 118.86 $ 102.39 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 115.59 $ 118.86 $ 102.39 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 2 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 118.86 $ 102.39 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 115.59 $ 118.86 $ 102.39 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 101 11 -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ---------- ----------- ----------- --------- EQ/BALANCED -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (F) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 114.16 ======== Number of units outstanding, end of period (000's) ..................................... 48 ======== MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 300 THROUGH 400 CONTRACTS 135 B.P. (C) ----------------------------------------------- Unit value, beginning of period .............. $ 108.26 $ 91.64 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 119.26 $ 108.26 $ 91.64 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 548 386 289 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-90 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ EQ/BALANCED -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------ Unit value, beginning of period .......... $ 121.00 $ 100.00 ======== ======== Unit value, end of period ................ $ 118.02 $ 121.00 ======== ======== Number of units outstanding, end of period (000's) ................................. 66 65 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 108.71 $ 100.00 ======== ======== Unit value, end of period ................ $ 105.98 $ 108.71 ======== ======== Number of units outstanding, end of period (000's) ................................. 34 2 ======== ======== EQ EQUITY 500 INDEX -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 322.15 $ 271.24 $ 214.66 $ 164.12 ======== ======== ======== ======== Unit value, end of period ................ $ 287.40 $ 322.15 $ 271.24 $ 214.66 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 163 172 135 94 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 321.97 $ 271.11 $ 214.58 $ 164.08 ======== ======== ======== ======== Unit value, end of period ................ $ 287.20 $ 321.97 $ 271.11 $ 214.58 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 253 304 283 231 ======== ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 257.24 $ 215.84 $ 170.23 $ 139.70 ======== ======== ======== ======== Unit value, end of period ................ $ 230.27 $ 257.24 $ 215.84 $ 170.23 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 2 5 11 5 ======== ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ---------- ----------- ----------- --------- EQ/BALANCED -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQ EQUITY 500 INDEX -- MOMENTUM CONTRACTS (D) ------------------------------------------- Unit value, beginning of period .......... $ 135.94 $ 100.95 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 164.12 $ 135.94 $ 100.95 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 51 12 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (D) ------------------------------------------- Unit value, beginning of period .......... $ 135.92 $ 100.94 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 164.08 $ 135.92 $ 100.94 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 128 44 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (F) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 139.70 ======== Number of units outstanding, end of period (000's) ................................. 4 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-91 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, --------------------------------------------------- 2000 1999 1998 1997 ------------ ------------ ------------ ------------ EQ EQUITY 500 INDEX -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ---------------------------------------------- Unit value, beginning of period .............. $ 227.20 $ 190.44 $ 150.05 $ 114.21 ======== ======== ======== ======== Unit value, end of period .................... $ 203.59 $ 227.20 $ 190.44 $ 150.05 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 5 5 4 3 ======== ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ----------------------------------------------- Unit value, beginning of period .............. $ 322.15 $ 271.24 $ 214.66 $ 164.12 ======== ======== ======== ======== Unit value, end of period .................... $ 287.40 $ 322.15 $ 271.24 $ 214.66 ======== ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 4,346 4,579 3,805 2,686 ======== ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 123.01 $ 103.68 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 109.62 $ 123.01 $ 103.68 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 10 9 2 ======== ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 123.02 $ 103.69 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 109.63 $ 123.02 $ 103.69 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 258 50 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 125.64 $ 100.00 ======== ======== Unit value, end of period .................... $ 112.30 $ 125.64 ======== ======== Number of units outstanding, end of period (000's) ..................................... 55 53 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------- 1996 1995 1994 1993 1992 1991 ----------- ----------- ---------- ----------- ----------- --------- EQ EQUITY 500 INDEX -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (P) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (D) ----------------------------------------------- Unit value, beginning of period .............. $ 135.94 $ 100.95 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 164.12 $ 135.94 $ 100.95 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1,486 592 47 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-92 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ EQUITY 500 INDEX -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 106.17 $ 100.00 ======== ======== Unit value, end of period ................ $ 94.85 $ 106.17 ======== ======== Number of units outstanding, end of period (000's) ................................. 78 9 ======== ======== EQ/EVERGREEN FOUNDATION -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 105.16 $ 100.00 ======== ======== Unit value, end of period ................ $ 98.76 $ 105.16 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 105.15 $ 100.00 ======== ======== Unit value, end of period ................ $ 98.74 $ 105.15 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 105.29 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.22 $ 105.29 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 105.33 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.36 $ 105.33 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-93 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/EVERGREEN FOUNDATION -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ---------------------------------------------- Unit value, beginning of period .............. $ 105.16 $ 100.00 ======== ======== Unit value, end of period .................... $ 98.76 $ 105.16 ======== ======== Number of units outstanding, end of period (000's) ..................................... 16 1 ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 105.11 $ 100.00 ======== ======== Unit value, end of period .................... $ 92.70 $ 105.11 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 105.21 $ 100.00 ======== ======== Unit value, end of period .................... $ 98.95 $ 105.21 ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 -- ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 105.33 $ 100.00 ======== ======== Unit value, end of period .................... $ 99.36 $ 105.33 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 105.31 $ 100.00 ======== ======== Unit value, end of period .................... $ 99.29 $ 105.31 ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-94 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/EVERGREEN -- MOMENTUM CONTRACTS (J) ------------------------------------------ Unit value, beginning of period .......... $ 106.57 $ 100.00 ======== ======== Unit value, end of period ................ $ 92.84 $ 106.57 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.57 $ 100.00 ======== ======== Unit value, end of period ................ $ 92.82 $ 106.57 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.71 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.27 $ 106.71 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.75 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.40 $ 106.75 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.57 $ 100.00 ======== ======== Unit value, end of period ................ $ 92.84 $ 106.57 ======== ======== Number of units outstanding, end of period (000's) ................................. 18 5 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-95 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/EVERGREEN -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 106.53 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.33 $ 106.53 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.63 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.02 $ 106.63 ======== ======== Number of units outstanding, end of period (000's) ................................. 3 -- ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 106.75 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.40 $ 106.75 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 106.73 $ 100.00 ======== ======== Unit value, end of period ................ $ 93.34 $ 106.73 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 -- ======== ======== EQ/JANUS LARGE CAP GROWTH -- MOMENTUM CONTRACTS (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 83.95 ======== Number of units outstanding, end of period (000's) ................................. -- ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-96 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ------- ------ ------ ------ ------ ------ ------ ------ ------ EQ/JANUS LARGE CAP GROWTH -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (O) ---------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 83.94 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== MOMENTUM PLUS CONTRACTS 100 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 84.04 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 83.95 ======== Number of units outstanding, end of period (000's) ..................................... 165 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 83.92 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 83.99 ======== Number of units outstanding, end of period (000's) ..................................... 12 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-97 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, -------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ---------- ------------ ------ ------ ------ ------ ------ ------ ------ ----- EQ/JANUS LARGE CAP GROWTH -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (O) ------------------------------------------ Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 84.07 ======== Number of units outstanding, end of period (000's) ................................. -- ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 84.05 ======== Number of units outstanding, end of period (000's) ................................. 12 ======== EQ/PUTNAM BALANCED -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 123.53 $ 125.16 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 132.80 $ 123.53 $ 125.16 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 3 2 -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 100.34 $ 101.67 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 107.86 $ 100.34 $ 101.67 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 8 5 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 100.86 $ 101.84 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 108.80 $ 100.86 $ 101.84 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-98 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ EQ/PUTNAM BALANCED -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 101.01 $ 101.89 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 109.08 $ 101.01 $ 101.89 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 123.53 $ 125.16 $ 113.46 ======== ======== ======== Unit value, end of period .................... $ 132.80 $ 123.53 $ 125.16 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 279 345 275 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 99.62 $ 101.05 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 106.98 $ 99.62 $ 101.05 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 99.99 $ 101.17 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 107.65 $ 99.99 $ 101.17 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 10 3 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 99.46 $ 100.00 ======== ======== Unit value, end of period .................... $ 107.40 $ 99.46 ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- EQ/PUTNAM BALANCED -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 113.46 ======== Number of units outstanding, end of period (000's) ..................................... 109 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-99 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 0 ---------- ----------- ---------- ------ ------ ------ ------ ------ ------ ----- EQ/PUTNAM BALANCED--(CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 95.64 $ 100.00 ======== ======== Unit value, end of period ................ $ 103.22 $ 95.64 ======== ======== Number of units outstanding, end of period (000's) ................................. 5 -- ======== ======== EQ/PUTNAM GROWTH & INCOME VALUE -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 124.76 $ 128.20 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 131.45 $ 124.76 $ 128.20 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 3 2 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 98.87 $ 101.60 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 104.15 $ 98.87 $ 101.60 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 16 11 2 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 99.38 $ 101.77 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 105.07 $ 99.38 $ 101.77 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 99.53 $ 101.82 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 105.33 $ 99.53 $ 101.82 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-100 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ EQ/PUTNAM GROWTH & INCOME VALUE -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ---------------------------------------------- Unit value, beginning of period .............. $ 124.76 $ 128.20 $ 115.17 ======== ======== ======== Unit value, end of period .................... $ 131.45 $ 124.76 $ 128.20 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 521 648 581 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 97.68 $ 100.48 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 102.80 $ 97.68 $ 100.48 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 98.04 $ 100.60 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 103.43 $ 98.04 $ 100.60 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 17 3 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 98.44 $ 100.00 ======== ======== Unit value, end of period .................... $ 104.17 $ 98.44 ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 2 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 92.44 $ 100.00 ======== ======== Unit value, end of period .................... $ 97.78 $ 92.44 ======== ======== Number of units outstanding, end of period (000's) ..................................... 6 -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- EQ/PUTNAM GROWTH & INCOME VALUE -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 115.17 ======== Number of units outstanding, end of period (000's) ..................................... 250 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-101 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- EQ/PUTNAM INTERNATIONAL EQUITY -- MOMENTUM CONTRACTS (J) ------------------------------------------ Unit value, beginning of period .......... $ 137.09 $ 100.00 ======== ======== Unit value, end of period ................ $ 118.60 $ 137.09 ======== ======== Number of units outstanding, end of period (000's) ................................. 7 1 ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 137.09 $ 100.00 ======== ======== Unit value, end of period ................ $ 118.59 $ 137.09 ======== ======== Number of units outstanding, end of period (000's) ................................. 3 -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 137.27 $ 100.00 ======== ======== Unit value, end of period ................ $ 119.16 $ 137.27 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 137.32 $ 100.00 ======== ======== Unit value, end of period ................ $ 119.32 $ 137.32 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQ/PUTNAM INVESTORS GROWTH -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 122.57 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.44 $ 122.57 ======== ======== Number of units outstanding, end of period (000's) ................................. 2 1 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-102 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ---------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ --------- ------ ------ ------ ------ ------ ------ ----- EQ/PUTNAM INVESTORS GROWTH -- (CONCLUDED) MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 122.56 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.43 $ 122.56 ======== ======== Number of units outstanding, end of period (000's) ................................. 2 -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 122.72 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.91 $ 122.72 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 122.77 $ 100.00 ======== ======== Unit value, end of period ................ $ 100.04 $ 122.77 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== FI MID CAP -- MOMENTUM CONTRACTS (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 99.98 ======== Number of units outstanding, end of period (000's) ................................. 1 ======== MOMENTUM PLUS CONTRACTS 135 B.P. (O) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 99.98 ======== Number of units outstanding, end of period (000's) ................................. -- ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-103 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ---------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ --------- ------ ------ ------ ------ ------ ------ ----- FI MID CAP -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (O) ---------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 100.09 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 99.98 ======== Number of units outstanding, end of period (000's) ..................................... 86 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 99.95 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 100.02 ======== Number of units outstanding, end of period (000's) ..................................... 9 ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (O) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 100.13 ======== Number of units outstanding, end of period (000's) ..................................... -- ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-104 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- FI MID CAP--(CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (O) ------------------------------------------ Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 100.11 ======== Number of units outstanding, end of period (000's) ................................. 7 ======== FI SMALL/MID CAP VALUE -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 105.28 $ 104.82 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 109.21 $ 105.28 $ 104.82 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 5 3 -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 83.43 $ 83.08 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 86.54 $ 83.43 $ 83.08 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 11 7 2 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 83.87 $ 83.22 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 87.29 $ 83.87 $ 83.22 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 83.99 $ 83.26 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 87.52 $ 83.99 $ 83.26 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-105 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ FI SMALL/MID CAP VALUE -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ---------------------------------------------- Unit value, beginning of period .............. $ 105.28 $ 104.82 $ 118.06 ======== ======== ======== Unit value, end of period .................... $ 109.21 $ 105.28 $ 104.82 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 628 721 859 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 83.05 $ 82.78 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 86.06 $ 83.05 $ 82.78 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 83.36 $ 82.88 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 86.60 $ 83.36 $ 82.88 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 14 1 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 103.94 $ 100.00 ======== ======== Unit value, end of period .................... $ 108.31 $ 103.94 ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 3 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 106.09 $ 100.00 ======== ======== Unit value, end of period .................... $ 110.49 $ 106.09 ======== ======== Number of units outstanding, end of period (000's) ..................................... 13 1 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- FI SMALL/MID CAP VALUE -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 118.06 ======== Number of units outstanding, end of period (000's) ..................................... 577 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-106 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- LAZARD LARGE CAP VALUE -- MOMENTUM CONTRACTS (J) ------------------------------------------ Unit value, beginning of period .......... $ 95.93 ======== Unit value, end of period ................ $ 92.80 ======== Number of units outstanding, end of period (000's) ................................. -- ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 95.93 ======== Unit value, end of period ................ $ 92.79 ======== Number of units outstanding, end of period (000's) ................................. -- ======== LAZARD SMALL CAP VALUE -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 97.34 $ 100.00 ======== ======== Unit value, end of period ................ $ 113.83 $ 97.34 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 97.34 $ 100.00 ======== ======== Unit value, end of period ................ $ 113.81 $ 97.34 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 97.47 $ 100.00 ======== ======== Unit value, end of period ................ $ 114.36 $ 97.47 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-107 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- LAZARD SMALL CAP VALUE -- (CONCLUDED) MOMENTUM PLUS CONTRACTS 90 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 97.50 $ 100.00 ======== ======== Unit value, end of period ................ $ 114.52 $ 97.50 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== MERCURY BASIC VALUE EQUITY -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 149.82 $ 127.67 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 165.28 $ 149.82 $ 127.67 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 9 6 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 115.67 $ 98.58 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 127.60 $ 115.67 $ 98.58 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 18 14 2 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 116.28 $ 98.75 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 128.72 $ 116.28 $ 98.75 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 116.45 $ 98.80 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 129.04 $ 116.45 $ 98.80 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-108 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ MERCURY BASIC VALUE EQUITY -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ---------------------------------------------- Unit value, beginning of period .............. $ 149.82 $ 127.67 $ 115.97 ======== ======== ======== Unit value, end of period .................... $ 165.27 $ 149.82 $ 127.67 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 634 617 444 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 114.64 $ 97.80 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 126.32 $ 114.64 $ 97.80 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 115.06 $ 97.91 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 127.11 $ 115.06 $ 97.91 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 41 7 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 113.77 $ 100.00 ======== ======== Unit value, end of period .................... $ 126.07 $ 113.77 ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 1 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 97.22 $ 100.00 ======== ======== Unit value, end of period .................... $ 107.68 $ 97.22 ======== ======== Number of units outstanding, end of period (000's) ..................................... 31 5 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- MERCURY BASIC VALUE EQUITY -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 115.97 ======== Number of units outstanding, end of period (000's) ..................................... 145 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-109 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ MERCURY WORLD STRATEGY -- MOMENTUM CONTRACTS (H) ------------------------------------------ Unit value, beginning of period .......... $ 130.94 $ 109.37 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 114.39 $ 130.94 $ 109.37 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 1 1 -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 115.26 $ 96.28 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 100.69 $ 115.26 $ 96.28 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 2 2 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 115.86 $ 96.44 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 101.57 $ 115.86 $ 96.44 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 116.04 $ 96.49 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 101.82 $ 116.04 $ 96.49 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... $ 130.94 $ 109.37 $ 103.77 ======== ======== ======== Unit value, end of period ................ $ 114.39 $ 130.94 $ 109.37 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 94 88 84 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- MERCURY WORLD STRATEGY -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 103.77 ======== Number of units outstanding, end of period (000's) ................................. 52 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-110 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- MERCURY WORLD STRATEGY -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 113.44 $ 94.86 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 98.99 $ 113.44 $ 94.86 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 113.85 $ 94.96 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 99.61 $ 113.85 $ 94.96 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 6 1 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 118.88 $ 100.00 ======== ======== Unit value, end of period ................ $ 104.32 $ 118.88 ======== ======== Number of units outstanding, end of period (000's) ................................. -- 1 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 113.34 $ 100.00 ======== ======== Unit value, end of period ................ $ 99.41 $ 113.34 ======== ======== Number of units outstanding, end of period (000's) ................................. 5 -- ======== ======== MFS EMERGING GROWTH COMPANIES -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 275.93 $ 161.04 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 220.97 $ 275.93 $ 161.04 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 59 33 5 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-111 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ MFS EMERGING GROWTH COMPANIES -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 184.57 $ 107.73 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 147.79 $ 184.57 $ 107.73 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 142 87 7 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 185.54 $ 107.91 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 149.09 $ 185.54 $ 107.91 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 185.82 $ 107.96 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 149.46 $ 185.82 $ 107.96 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 275.93 $ 161.04 $ 121.34 ======== ======== ======== Unit value, end of period .................... $ 220.97 $ 275.93 $ 161.04 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3,720 2,427 1,090 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 177.00 $ 103.41 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 141.58 $ 177.00 $ 103.41 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 9 6 1 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- MFS EMERGING GROWTH COMPANIES -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 121.34 ======== Number of units outstanding, end of period (000's) ..................................... 256 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-112 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- MFS EMERGING GROWTH COMPANIES -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 177.65 $ 103.53 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 142.46 $ 177.65 $ 103.53 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 288 36 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 166.37 $ 100.00 ======== ======== Unit value, end of period ................ $ 133.82 $ 166.37 ======== ======== Number of units outstanding, end of period (000's) ................................. 17 7 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 157.69 $ 100.00 ======== ======== Unit value, end of period ................ $ 126.78 $ 157.69 ======== ======== Number of units outstanding, end of period (000's) ................................. 181 17 ======== ======== MFS GROWTH WITH INCOME -- MOMENTUM CONTRACTS (J) ------------------------------------------- Unit value, beginning of period .......... $ 104.48 $ 100.00 ======== ======== Unit value, end of period ................ $ 102.37 $ 104.48 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 -- ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (J) ------------------------------------------- Unit value, beginning of period .......... $ 104.48 $ 100.00 ======== ======== Unit value, end of period ................ $ 102.36 $ 104.48 ======== ======== Number of units outstanding, end of period (000's) ................................. 1 -- ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-113 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ---------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 --------- ---------- --------- ------ ------ ------ ------ ------ ------ ----- MFS GROWTH WITH INCOME -- (CONTINUED) MOMENTUM PLUS CONTRACTS 100 B.P. (J) ---------------------------------------------- Unit value, beginning of period .............. $ 104.61 $ 100.00 ======== ======== Unit value, end of period .................... $ 102.85 $ 104.61 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 104.65 $ 100.00 ======== ======== Unit value, end of period .................... $ 102.99 $ 104.65 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS 134 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 104.48 $ 100.00 ======== ======== Unit value, end of period .................... $ 102.37 $ 104.48 ======== ======== Number of units outstanding, end of period (000's) ..................................... 68 18 ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 104.44 $ 100.00 ======== ======== Unit value, end of period .................... $ 102.22 $ 104.44 ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (J) ----------------------------------------------- Unit value, beginning of period .............. $ 104.53 $ 100.00 ======== ======== Unit value, end of period .................... $ 102.57 $ 104.53 ======== ======== Number of units outstanding, end of period (000's) ..................................... 17 2 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-114 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- MFS GROWTH WITH INCOME -- (CONCLUDED) EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (J) ------------------------------------------ Unit value, beginning of period .......... $ 104.65 $ 100.00 ======== ======== Unit value, end of period ................ $ 102.99 $ 104.65 ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 104.63 $ 100.00 ======== ======== Unit value, end of period ................ $ 102.92 $ 104.63 ======== ======== Number of units outstanding, end of period (000's) ................................. 12 1 ======== ======== MFS RESEARCH -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 171.06 $ 140.83 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 159.89 $ 171.06 $ 140.83 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 11 8 4 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 122.37 $ 100.75 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 114.37 $ 122.37 $ 100.75 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 35 26 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 123.01 $ 100.92 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 115.38 $ 123.01 $ 100.92 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-115 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ MFS RESEARCH -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 123.19 $ 100.97 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 115.66 $ 123.19 $ 100.97 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 171.06 $ 140.83 $ 115.01 ======== ======== ======== Unit value, end of period .................... $ 159.89 $ 171.06 $ 140.83 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1,258 959 720 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 120.11 $ 98.99 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 112.14 $ 120.11 $ 98.99 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 3 3 1 ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 120.55 $ 99.10 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 112.84 $ 120.55 $ 99.10 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 84 6 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 123.09 $ 100.00 ======== ======== Unit value, end of period .................... $ 115.57 $ 123.09 ======== ======== Number of units outstanding, end of period (000's) ..................................... 6 4 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- MFS RESEARCH -- (CONTINUED) MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 115.01 ======== Number of units outstanding, end of period (000's) ..................................... 236 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-116 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- MFS RESEARCH -- (CONCLUDED) EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------ Unit value, beginning of period .......... $ 116.97 $ 100.00 ======== ======== Unit value, end of period ................ $ 109.77 $ 116.97 ======== ======== Number of units outstanding, end of period (000's) ................................. 56 3 ======== ======== MORGAN STANLEY EMERGING MARKETS EQUITY -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 110.43 $ 57.18 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 65.32 $ 110.43 $ 57.18 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 17 6 -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 166.52 $ 86.23 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 98.49 $ 166.52 $ 86.23 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 17 11 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 167.39 $ 86.38 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 99.36 $ 167.39 $ 86.38 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 167.64 $ 86.42 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 99.61 $ 167.64 $ 86.42 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-117 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ MORGAN STANLEY EMERGING MARKETS EQUITY -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (L) ---------------------------------------------- Unit value, beginning of period .............. $ 110.43 $ 57.18 $ 79.41 ======== ======== ======== Unit value, end of period .................... $ 65.32 $ 110.43 $ 57.18 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 926 590 217 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 157.03 $ 81.40 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 92.78 $ 157.03 $ 81.40 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 -- -- ======== ======== ======== EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 157.61 $ 81.49 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 93.36 $ 157.61 $ 81.49 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 42 5 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 198.84 $ 100.00 ======== ======== Unit value, end of period .................... $ 118.14 $ 198.84 ======== ======== Number of units outstanding, end of period (000's) ..................................... 2 2 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 147.71 $ 100.00 ======== ======== Unit value, end of period .................... $ 87.72 $ 147.71 ======== ======== Number of units outstanding, end of period (000's) ..................................... 28 1 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ----- ------ ----- ------ ------ MORGAN STANLEY EMERGING MARKETS EQUITY -- (CONCLUDED) EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (L) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 79.41 ======== Number of units outstanding, end of period (000's) ..................................... 109 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-118 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ T. ROWE PRICE EQUITY INCOME -- MOMENTUM CONTRACTS (H) ------------------------------------------ Unit value, beginning of period .......... $ 133.07 $ 130.25 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 148.19 $ 133.07 $ 130.25 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 6 5 1 ======== ======== ======== MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 103.58 $ 101.39 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 115.33 $ 103.58 $ 101.39 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 21 24 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 104.12 $ 101.56 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 116.34 $ 104.12 $ 101.56 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 104.28 $ 101.61 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 116.63 $ 104.28 $ 101.61 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. -- -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... $ 133.07 $ 130.25 $ 121.04 ======== ======== ======== Unit value, end of period ................ $ 148.19 $ 133.07 $ 130.25 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 825 1,072 1,070 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- T. ROWE PRICE EQUITY INCOME -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 135 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 100 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. MOMENTUM PLUS CONTRACTS 90 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... Unit value, end of period ................ Number of units outstanding, end of period (000's) ................................. EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ------------------------------------------- Unit value, beginning of period .......... $ 100.00 ======== Unit value, end of period ................ $ 121.04 ======== Number of units outstanding, end of period (000's) ................................. 475 ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-119 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ----------- ------------ ------------ ------ ------ ------ ------ ------ ------ ----- T. ROWE PRICE EQUITY INCOME -- (CONCLUDED) EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ------------------------------------------ Unit value, beginning of period .......... $ 103.08 $ 101.00 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 114.66 $ 103.08 $ 101.00 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 1 1 -- ======== ======== ======== EQUI-VEST SERIES 600 & 800 CONTRACTS 120 B.P. (H) ------------------------------------------- Unit value, beginning of period .......... $ 103.45 $ 101.12 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 115.37 $ 103.45 $ 101.12 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 12 3 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ------------------------------------------- Unit value, beginning of period .......... $ 105.38 $ 100.00 ======== ======== Unit value, end of period ................ $ 117.87 $ 105.38 ======== ======== Number of units outstanding, end of period (000's) ................................. 4 4 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ------------------------------------------- Unit value, beginning of period .......... $ 93.54 $ 100.00 ======== ======== Unit value, end of period ................ $ 104.57 $ 93.54 ======== ======== Number of units outstanding, end of period (000's) ................................. 9 2 ======== ======== T. ROWE PRICE INTERNATIONAL STOCK -- MOMENTUM CONTRACTS (H) ------------------------------------------- Unit value, beginning of period .......... $ 142.46 $ 109.49 $ 100.00 ======== ======== ======== Unit value, end of period ................ $ 114.30 $ 142.46 $ 109.49 ======== ======== ======== Number of units outstanding, end of period (000's) ................................. 8 4 1 ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-120 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Continued)
YEARS ENDED DECEMBER 31, ------------------------------------- 2000 1999 1998 ------------ ----------- ------------ T. ROWE PRICE INTERNATIONAL STOCK -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 128.72 $ 98.95 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 103.27 $ 128.72 $ 98.95 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 18 13 3 ======== ======== ======== MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 129.39 $ 99.11 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 104.18 $ 129.39 $ 99.11 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 129.59 $ 99.16 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 104.44 $ 129.59 $ 99.16 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... -- -- -- ======== ======== ======== EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 142.46 $ 109.49 $ 97.61 ======== ======== ======== Unit value, end of period .................... $ 114.30 $ 142.46 $ 109.49 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 871 765 671 ======== ======== ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. $ 122.22 $ 94.04 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 97.95 $ 122.22 $ 94.04 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 1 1 -- ======== ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997. YEARS ENDED DECEMBER 31, ----------------------------------------------------- 1997 1996 1995 1994 1993 1992 1991 ------------ ------ ------ ------ ------ ------ ----- T. ROWE PRICE INTERNATIONAL STOCK -- (CONTINUED) MOMENTUM PLUS CONTRACTS 135 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... MOMENTUM PLUS CONTRACTS 100 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... MOMENTUM PLUS CONTRACTS 90 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... EQUI-VEST SERIES 100 THROUGH 400 CONTRACTS (G) ----------------------------------------------- Unit value, beginning of period .............. $ 100.00 ======== Unit value, end of period .................... $ 97.61 ======== Number of units outstanding, end of period (000's) ..................................... 387 ======== EQUI-VEST SERIES 500 CONTRACTS 145 B.P. (H) ----------------------------------------------- Unit value, beginning of period .............. Unit value, end of period .................... Number of units outstanding, end of period (000's) ..................................... ---------- (a) Momentum Units were made available for sale on February 15, 1993. (b) Units were made available for sale on September 9, 1993. (c) Units were made available for sale on January 3, 1994. (d) Units were made available for sale on June 1, 1994. (e) Units were made available for sale on September 1, 1994. (f) Units were made available for sale on September 1, 1996. (g) Units were made available for sale on May 1, 1997. (h) Units were made available for sale on July 13, 1998. (i) Units were made available for sale on January 30, 1999. (j) Units were made available for sale on August 30, 1999. (k) Units were made available for sale on October 6, 1999. (l) Units were made available for sale on August 20, 1997. (m) Units were made available for sale on January 1, 1994. (n) Units were made available for sale on May 22, 2000. (o) Units were made available for sale on September 22, 2000. (p) Units were made available for sale on January 1, 1997.
FSA-121 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 2000 7. Accumulation Unit Values (Concluded)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------------------ 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ------------ ----------- ------------------ ------ ------ ------ ------ ------ ----- T. ROWE PRICE INTERNATIONAL STOCK -- (CONCLUDED) EQUI-VEST SERIES 600 AND 800 CONTRACTS 120 B.P. (H) ---------------------------------------------- Unit value, beginning of period .............. $ 122.67 $ 94.15 $ 100.00 ======== ======== ======== Unit value, end of period .................... $ 98.56 $ 122.67 $ 94.15 ======== ======== ======== Number of units outstanding, end of period (000's) ..................................... 42 3 -- ======== ======== ======== EQUI-VEST SERIES 600 CONTRACTS 90 B.P. (I) ----------------------------------------------- Unit value, beginning of period .............. $ 134.15 $ 100.00 ======== ======== Unit value, end of period .................... $ 108.11 $ 134.15 ======== ======== Number of units outstanding, end of period (000's) ..................................... 4 2 ======== ======== EQUI-VEST EXPRESS SERIES 700 CONTRACTS 95 B.P. (K) ----------------------------------------------- Unit value, beginning of period .............. $ 123.90 $ 100.00 ======== ======== Unit value, end of period .................... $ 99.81 $ 123.90 ======== ======== Number of units outstanding, end of period (000's) ..................................... 43 3 ======== ======== ---------- (a) Momentum Units were made available for sale on February 15, 1993. (i) Units were made available for sale on January 30, 1999. (b) Units were made available for sale on September 9, 1993. (j) Units were made available for sale on August 30, 1999. (c) Units were made available for sale on January 3, 1994. (k) Units were made available for sale on October 6, 1999. (d) Units were made available for sale on June 1, 1994. (l) Units were made available for sale on August 20, 1997. (e) Units were made available for sale on September 1, 1994. (m) Units were made available for sale on January 1, 1994. (f) Units were made available for sale on September 1, 1996. (n) Units were made available for sale on May 22, 2000. (g) Units were made available for sale on May 1, 1997. (o) Units were made available for sale on September 22, 2000. (h) Units were made available for sale on July 13, 1998. (p) Units were made available for sale on January 1, 1997.
FSA-122 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SEPARATE ACCOUNT A NOTES TO FINANCIAL STATEMENTS (CONCLUDED) DECEMBER 31, 2000 8. Subsequent Events On September 20, 2000 the Board of Trustees of EQAT approved the substitution of the EQ/Balanced Portfolio for shares of the Alliance Conservative Investors Portfolio, EQ/Evergreen Foundation Portfolio, EQ/Putnam Balanced Portfolio and Mercury World Strategy Portfolio ("substitution"). For accounting purposes EQ/Balanced Portfolio will be the surviving Portfolio. It is anticipated the substitution transaction will occur on or about May 18, 2001. Effective March 1, 2001 the Lazard Large Cap Portfolio changed its name to the EQ/Bernstein Diversified Value Portfolio ("Bernstein"). On January 19, 2001, the Board of Trustees of EQAT approved a proposed Agreement and Plan of Reorganization ("Reorganization"). The Reorganization contemplates the transfer of all assets of the T. Rowe Price Equity Income Portfolio ("Price Portfolio") to the Bernstein Portfolio and the assumption by the Bernstein Portfolio of all the liabilities of the Price Portfolio in exchange for the liabilities of the Price Portfolio. The Reorganization provides the complete liquidation of the Price Portfolio. The reorganization is subject to Price shareholder approval. FSA-123 REPORT OF INDEPENDENT ACCOUNTANTS To the Board of Directors and Shareholder of The Equitable Life Assurance Society of the United States In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of earnings, of shareholder's equity and comprehensive income and of cash flows present fairly, in all material respects, the financial position of The Equitable Life Assurance Society of the United States and its subsidiaries ("Equitable Life") at December 31, 2000 and December 31, 1999, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2000 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of Equitable Life's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. /s/ PricewaterhouseCoopers LLP New York, New York February 5, 2001 F-1 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2000 AND 1999
2000 1999 ----------------- ----------------- (IN MILLIONS) ASSETS Investments: Fixed maturities: Available for sale, at estimated fair value............................. $ 16,251.4 $ 18,599.7 Held to maturity, at amortized cost..................................... 204.6 133.2 Mortgage loans on real estate............................................. 3,130.8 3,270.0 Equity real estate........................................................ 975.5 1,160.2 Policy loans.............................................................. 2,476.9 2,257.3 Other equity investments.................................................. 2,392.8 671.2 Investment in and loans to affiliates..................................... - 1,201.8 Other invested assets..................................................... 762.5 911.6 ----------------- ----------------- Total investments..................................................... 26,194.5 28,205.0 Cash and cash equivalents................................................... 2,022.1 628.0 Cash and securities segregated, at estimated fair value..................... 1,306.3 - Broker-dealer related receivables........................................... 1,900.3 521.3 Deferred policy acquisition costs........................................... 4,429.1 4,033.0 Intangible assets, net...................................................... 3,525.8 114.5 Amounts due from reinsurers................................................. 1,989.2 881.5 Other assets................................................................ 3,594.3 2,351.0 Closed Block assets......................................................... 8,659.0 8,607.3 Separate Accounts assets.................................................... 51,705.9 54,453.9 ----------------- ----------------- TOTAL ASSETS................................................................ $ 105,326.5 $ 99,795.5 ================= ================= LIABILITIES Policyholders' account balances............................................. $ 19,866.4 $ 21,351.4 Future policy benefits and other policyholders liabilities.................. 4,920.4 4,777.6 Broker-dealer related payables.............................................. 1,283.0 319.3 Customers related payables.................................................. 1,636.9 - Amounts due to reinsurers................................................... 730.3 682.5 Short-term and long-term debt............................................... 1,630.1 1,407.9 Federal income taxes payable................................................ 1,988.2 496.0 Other liabilities........................................................... 1,642.1 1,379.0 Closed Block liabilities.................................................... 9,050.2 9,025.0 Separate Accounts liabilities............................................... 51,632.1 54,332.5 Minority interest in equity of consolidated subsidiaries.................... 1,820.4 256.8 Minority interest subject to redemption rights.............................. 681.1 - ----------------- ----------------- Total liabilities..................................................... 96,881.2 94,028.0 ----------------- ----------------- Commitments and contingencies (Notes 11, 13, 14, 15 and 16) SHAREHOLDER'S EQUITY Common stock, $1.25 par value, 2.0 million shares authorized, issued and outstanding........................................................... 2.5 2.5 Capital in excess of par value.............................................. 4,723.8 3,557.2 Retained earnings........................................................... 3,706.2 2,600.7 Accumulated other comprehensive income (loss)............................... 12.8 (392.9) ----------------- ----------------- Total shareholder's equity............................................ 8,445.3 5,767.5 ----------------- ----------------- TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY.................................. $ 105,326.5 $ 99,795.5 ================= =================
See Notes to Consolidated Financial Statements. F-2 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES CONSOLIDATED STATEMENTS OF EARNINGS YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998
2000 1999 1998 ----------------- ----------------- ----------------- (IN MILLIONS) REVENUES Universal life and investment-type product policy fee income...................................................... $ 1,413.3 $ 1,257.5 $ 1,056.2 Premiums...................................................... 579.9 558.2 588.1 Net investment income......................................... 2,173.2 2,240.9 2,228.1 Gain on sale of equity investee............................... 1,962.0 - - Investment (losses) gains, net................................ (756.0) (96.9) 100.2 Commissions, fees and other income............................ 2,731.1 2,177.9 1,503.0 Contribution from the Closed Block............................ 92.7 86.4 87.1 ----------------- ----------------- ----------------- Total revenues.......................................... 8,196.2 6,224.0 5,562.7 ----------------- ----------------- ----------------- BENEFITS AND OTHER DEDUCTIONS Interest credited to policyholders' account balances.......... 1,034.3 1,078.2 1,153.0 Policyholders' benefits....................................... 1,049.3 1,038.6 1,024.7 Compensation and benefits..................................... 1,081.2 1,010.6 772.0 Commissions................................................... 779.2 549.5 478.1 Distribution plan payments.................................... 476.0 346.6 266.4 Amortization of deferred sales commissions.................... 219.7 163.9 108.9 Interest expense.............................................. 116.3 93.0 110.7 Amortization of deferred policy acquisition costs............. 294.5 314.5 292.7 Capitalization of deferred policy acquisition costs........... (778.1) (709.9) (609.1) Writedown of deferred policy acquisition costs................ - 131.7 - Rent expense.................................................. 146.4 113.9 100.0 Expenses related to AXA's minority interest acquisition of the Holding Company..................................... 493.9 - - Other operating costs and expenses............................ 698.0 783.5 681.5 ----------------- ----------------- ----------------- Total benefits and other deductions..................... 5,610.7 4,914.1 4,378.9 ----------------- ----------------- ----------------- Earnings from continuing operations before Federal income taxes and minority interest.......................... 2,585.5 1,309.9 1,183.8 Federal income taxes.......................................... (958.3) (332.0) (353.1) Minority interest in net income of consolidated subsidiaries.. (330.3) (199.4) (125.2) ----------------- ----------------- ----------------- Earnings from continuing operations........................... 1,296.9 778.5 705.5 Earnings from discontinued operations, net of Federal income taxes............................................... 58.6 28.1 2.7 ----------------- ----------------- ----------------- Net Earnings.................................................. $ 1,355.5 $ 806.6 $ 708.2 ================= ================= =================
See Notes to Consolidated Financial Statements. F-3 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES CONSOLIDATED STATEMENTS OF SHAREHOLDER'S EQUITY AND COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998
2000 1999 1998 ----------------- ----------------- ----------------- (IN MILLIONS) Common stock, at par value, beginning and end of year......... $ 2.5 $ 2.5 $ 2.5 ----------------- ----------------- ----------------- Capital in excess of par value, beginning of year............. 3,557.2 3,110.2 3,105.8 Capital contributions......................................... 1,166.6 447.0 4.4 ----------------- ----------------- ----------------- Capital in excess of par value, end of year................... 4,723.8 3,557.2 3,110.2 ----------------- ----------------- ----------------- Retained earnings, beginning of year.......................... 2,600.7 1,944.1 1,235.9 Net earnings.................................................. 1,355.5 806.6 708.2 Dividends paid to AXA Financial............................... (250.0) (150.0) - ----------------- ----------------- ----------------- Retained earnings, end of year................................ 3,706.2 2,600.7 1,944.1 ----------------- ----------------- ----------------- Accumulated other comprehensive (loss) income, beginning of year........................................... (392.9) 355.8 516.3 Other comprehensive income (loss)............................. 405.7 (748.7) (160.5) ----------------- ----------------- ----------------- Accumulated other comprehensive income (loss), end of year.... 12.8 (392.9) 355.8 ----------------- ----------------- ----------------- Total Shareholder's Equity, End of Year....................... $ 8,445.3 $ 5,767.5 $ 5,412.6 ================= ================= ================= COMPREHENSIVE INCOME Net earnings.................................................. $ 1,355.5 $ 806.6 $ 708.2 ----------------- ----------------- ----------------- Change in unrealized gains (losses), net of reclassification adjustments................................................ 405.7 (776.9) (149.5) Minimum pension liability adjustment.......................... - 28.2 (11.0) ----------------- ----------------- ----------------- Other comprehensive income (loss)............................. 405.7 (748.7) (160.5) ----------------- ----------------- ----------------- Comprehensive Income.......................................... $ 1,761.2 $ 57.9 $ 547.7 ================= ================= =================
See Notes to Consolidated Financial Statements. F-4 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998
2000 1999 1998 ----------------- ----------------- ----------------- (IN MILLIONS) Net earnings.................................................. $ 1,355.5 $ 806.6 $ 708.2 Adjustments to reconcile net earnings to net cash provided by operating activities: Interest credited to policyholders' account balances........ 1,034.3 1,078.2 1,153.0 Universal life and investment-type product policy fee income......................................... (1,413.3) (1,257.5) (1,056.2) Investment losses (gains)................................... 756.0 96.9 (100.2) Net change in broker-dealer and customer related receivables/payables...................................... (422.9) (119.9) (17.5) Gain on sale of equity investee............................. (1,962.0) - - Change in Federal income tax payable........................ 2,078.4 157.4 123.1 Change in future policy benefits............................ (850.6) 22.8 66.8 Change in property and equipment............................ (321.0) (256.3) (81.8) Change in deferred acquisition costs........................ (476.9) (260.7) (314.0) Expenses related to AXA's acquisition of the Holding Company's minority interest................ 493.9 - - Purchase of segregated cash and securities, net............. (610.4) - - Other, net.................................................. (560.8) (71.7) 21.6 ----------------- ----------------- ----------------- Net cash (used) provided by operating activities.............. (54.0) 195.8 503.0 ----------------- ----------------- ----------------- Cash flows from investing activities: Maturities and repayments................................... 2,091.0 2,019.0 2,289.0 Sales....................................................... 7,810.2 7,572.9 16,972.1 Purchases................................................... (8,895.1) (10,737.3) (18,578.5) Decrease (increase) in short-term investments............... 142.6 (178.3) 102.4 Decrease in loans to discontinued operations................ - - 660.0 Sale of equity investee..................................... 1,580.6 - - Subsidiary acquisition ..................................... (1,480.0) - - Other, net.................................................. (164.5) (134.8) (341.8) ----------------- ----------------- ----------------- Net cash provided (used) by investing activities.............. 1,084.8 (1,458.5) 1,103.2 ----------------- ----------------- ----------------- Cash flows from financing activities: Policyholders' account balances: Deposits.................................................. 2,659.9 2,366.2 1,508.1 Withdrawals and transfers to Separate Accounts............ (3,887.7) (1,765.8) (1,724.6) Net increase (decrease) in short-term financings............ 225.2 378.2 (243.5) Repayments of long-term debt................................ - (41.3) (24.5) Payment of obligation to fund accumulated deficit of discontinued operations................................... - - (87.2) Proceeds from newly issued Alliance Units................... 1,600.0 - - Dividends paid to AXA Financial............................. (250.0) (150.0) - Other, net.................................................. 15.9 (142.1) (89.5) ----------------- ----------------- ----------------- Net cash provided (used) by financing activities.............. 363.3 645.2 (661.2) ----------------- ----------------- ----------------- Change in cash and cash equivalents........................... 1,394.1 (617.5) 945.0 Cash and cash equivalents, beginning of year.................. 628.0 1,245.5 300.5 ----------------- ----------------- ----------------- Cash and Cash Equivalents, End of Year........................ $ 2,022.1 $ 628.0 $ 1,245.5 ================= ================= =================
F-5 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998 CONTINUED
2000 1999 1998 ----------------- ----------------- ----------------- (IN MILLIONS) Supplemental cash flow information Interest Paid............................................... $ 97.0 $ 92.2 $ 130.7 ================= ================= ================= Income Taxes Paid........................................... $ 358.2 $ 116.5 $ 254.3 ================= ================= =================
See Notes to Consolidated Financial Statements. F-6 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1) ORGANIZATION The Equitable Life Assurance Society of the United States ("Equitable Life") is an indirect, wholly owned subsidiary of AXA Financial, Inc. (the "Holding Company," and collectively with its consolidated subsidiaries, "AXA Financial"). Equitable Life's insurance business is conducted principally by Equitable Life and its wholly owned life insurance subsidiary, Equitable of Colorado ("EOC"). Equitable Life's investment management business, which comprises the Investment Services segment, is principally conducted by Alliance Capital Management L.P. ("Alliance"), and, through November 3, 2000, Donaldson, Lufkin & Jenrette, Inc. ("DLJ"), an investment banking and brokerage affiliate which was sold. On September 20, 1999, as part of AXA Financial's "branding" strategic initiative, EQ Financial Consultants, Inc., a broker-dealer subsidiary of Equitable Life, was merged into a new company, AXA Advisors, LLC ("AXA Advisors"). Also, on September 21, 1999, AXA Advisors was transferred by Equitable Life to AXA Distribution Holding Corporation ("AXA Distribution"), a wholly owned indirect subsidiary of the Holding Company, for $15.3 million. The excess of the sales price over AXA Advisors' book value has been recorded in Equitable Life's books as a capital contribution. Equitable Life continues to develop and market the "Equitable" brand of life and annuity products, while AXA Distribution and its subsidiaries provide financial planning services, distribute products and manage customer relationships. In February 2000, Equitable Life transferred AXA Network, LLC ("AXA Network") to AXA Distribution, an indirect wholly owned subsidiary of the Holding Company for $8.7 million. The excess of sales price over AXA Network's book value has been recorded in Equitable Life's financial statements as a capital contribution. In October 2000, Alliance acquired substantially all of the assets and liabilities of Sanford C. Bernstein Inc. ("Bernstein") for an aggregate current value of approximately $3.50 billion ($1.48 billion in cash and 40.8 million newly issued Alliance units). The Holding Company provided Alliance with the cash portion of the consideration by purchasing approximately 32.6 million newly issued Alliance Units for $1.60 billion in June 2000. Equitable Life and, collectively with its consolidated subsidiaries (the "Company"), recorded a non-cash gain of $416.2 million (net of related Federal income tax of $224.1 million) related to the Holding Company's purchase of Alliance Units which is reflected as an addition to capital in excess of par value. The acquisition was accounted for under the purchase method with the results of Bernstein included in the consolidated financial statements from the acquisition date. The excess of the purchase price over the fair value of net assets acquired resulted in the recognition of goodwill and intangible assets of approximately $3.40 billion and is being amortized over an estimated overall 20 year life. In connection with the issuance of Alliance Units to former Bernstein shareholders, the Company recorded a non-cash gain of $393.5 million (net of related Federal income tax of $211.9 million) which is reflected as an addition to capital in excess of par value. The Company's consolidated economic interest in Alliance was 39.43% at December 31, 2000. In 1999, Alliance reorganized into Alliance Capital Management Holding L.P. ("Alliance Holding") and Alliance. Alliance Holding's principal asset is its interest in Alliance and it functions as a holding entity through which holders of its publicly traded units own an indirect interest in Alliance, the operating partnership. The Company exchanged substantially all of its Alliance Holding units for units in Alliance ("Alliance Units"). AXA, a French holding company for an international group of insurance and related financial services companies, has been the Holding Company's largest shareholder since 1992. In October 2000, the Board of Directors of the Holding Company, acting upon a unanimous recommendation of a special committee of independent directors, approved an agreement with AXA for the acquisition of the approximately 40% of outstanding Holding Company common stock ("Common Stock") it did not already own. Under terms of the agreement, the minority shareholders of the Holding Company would receive $35.75 in cash and 0.295 of an AXA American Depositary Share ("ADS") for each Holding Company share. When the tender offer expired on December 29, 2000, approximately 148.1 million shares of Common Stock had been acquired by AXA and its wholly owned subsidiary, AXA Merger Corp. On January 2, 2001, AXA Merger Corp. was merged with and into the Holding Company, resulting in the Holding Company becoming a wholly owned subsidiary of AXA. F-7 2) SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation ----------------------------------------------------- The accompanying consolidated financial statements are prepared in conformity with generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated financial statements include the accounts of Equitable Life and its subsidiary engaged in insurance related businesses (collectively, the "Insurance Group"); other subsidiaries, principally Alliance; and those partnerships and joint ventures in which Equitable Life or its subsidiaries has control or a majority economic interest. The Company's investment in DLJ was reported on the equity basis of accounting. Closed Block assets, liabilities and results of operations are presented in the consolidated financial statements as single line items (see Note 7). Unless specifically stated, all other footnote disclosures contained herein exclude the Closed Block related amounts. All significant intercompany transactions and balances except those with the Closed Block, DLJ and discontinued operations (see Note 8) have been eliminated in consolidation. The years "2000," "1999" and "1998" refer to the years ended December 31, 2000, 1999 and 1998, respectively. Certain reclassifications have been made in the amounts presented for prior periods to conform these periods with the 2000 presentation. Closed Block ------------ When it demutualized on July 22, 1992, Equitable Life established a Closed Block for the benefit of certain individual participating policies which were in force on that date. The assets allocated to the Closed Block, together with anticipated revenues from policies included in the Closed Block, were reasonably expected to be sufficient to support such business, including provision for the payment of claims, certain expenses and taxes, and for continuation of dividend scales payable in 1991, assuming the experience underlying such scales continues. Assets allocated to the Closed Block inure solely to the benefit of the Closed Block policyholders and will not revert to the benefit of the Holding Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of Equitable Life's General Account, any of its Separate Accounts or any affiliate of Equitable Life without the approval of the New York Superintendent of Insurance (the "Superintendent"). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. The excess of Closed Block liabilities over Closed Block assets represents the expected future post-tax contribution from the Closed Block which would be recognized in income over the period the policies and contracts in the Closed Block remain in force. Discontinued Operations ----------------------- In 1991, management discontinued the business of certain pension operations ("Discontinued Operations"). Discontinued Operations at December 31, 2000 principally consists of the Group Non-Participating Wind-Up Annuities ("Wind-Up Annuities"), for which a premium deficiency reserve has been established. Management reviews the adequacy of the allowance for future losses each quarter and makes adjustments when necessary. Management believes the allowance for future losses at December 31, 2000 is adequate to provide for all future losses; however, the quarterly allowance review continues to involve numerous estimates and subjective judgments regarding the expected performance of invested assets ("Discontinued Operations Investment Assets") held by Discontinued Operations. There can be no assurance the losses provided for will not differ from the losses ultimately realized. To the extent actual results or future projections of discontinued operations differ from management's current best estimates and assumptions underlying the allowance for future losses, the difference would be reflected in the consolidated statements of earnings in discontinued operations. In particular, to the extent income, sales proceeds and holding periods for equity real estate differ from management's previous assumptions, periodic adjustments to the allowance are likely to result (see Note 8). F-8 New Accounting Pronouncements ----------------------------- As required beginning January 1, 2001, the Company adopted Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities", as amended, that establishes new accounting and reporting standards for all derivative instruments, including certain derivatives embedded in other contracts, and for hedging activities. As further described and quantified in Note 13, the only free-standing derivative instruments maintained by the Company at January 1, 2001 were interest rate caps, floors and collars intended to hedge crediting rates on interest-sensitive individual annuities contracts. However, based upon guidance from the Financial Accounting Standards Board ("FASB") and the Derivatives Implementation Group ("DIG"), these contracts cannot be designated in a qualifying hedging relationship under FAS 133 and, consequently, require mark-to-market accounting through earnings for changes in their fair values beginning January 1, 2001. With respect to adoption of the requirements on embedded derivatives, the Company elected a January 1, 1999 transition date, thereby effectively "grandfathering" existing accounting for derivatives embedded in hybrid instruments acquired, issued, or substantively modified on or before that date. As a consequence of this election, coupled with recent interpretive guidance from the FASB and the DIG with respect to issues specifically related to insurance contracts and features, adoption of the new requirements for embedded derivatives did not have a material impact on the Company's consolidated financial position or earnings. In September 2000, the FASB issued SFAS No. 140, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, a replacement of SFAS No. 125". SFAS No. 140 specifies the accounting and reporting requirements for securitizations and other transfers of financial assets and collateral, the recognition and measurement of servicing assets and liabilities and the extinguishment of liabilities. SFAS No. 140 is effective for transfers and servicing of financial assets and extinguishments of liabilities occurring after March 31, 2001 and is to be applied prospectively with certain exceptions. This statement is effective for recognition and reclassification of collateral and for disclosures relating to securitization transactions and collateral for fiscal years ending after December 15, 2000. Adoption of the new requirements is not expected to have a significant impact on the Company's consolidated financial position or earnings. In December 2000, the American Institute of Certified Public Accountants (the "AICPA") issued Statement of Position ("SOP") 00-3, "Accounting by Insurance Enterprises for Demutualizations and Formations of Mutual Insurance Holding Companies and for Certain Long-Duration Participating Contracts". Since Equitable Life's July 1992 demutualization occurred before December 31, 2000, SOP 00-3 should be applied retroactively through restatement or reclassification, as appropriate, of all previously issued financial statements no later than the end of the fiscal year that begins after December 15, 2000. However, if implementation is impracticable because the demutualization occurred many years prior to January 1, 2001 no retroactive restatement is required. The Company has determined it is not practicable to produce an actuarial calculation as of the July 1992 demutualization date. Therefore, SOP 00-3 will be adopted prospectively as of January 1, 2001 with no financial impact associated with its initial implementation. However, future earnings will be affected to the extent actual Closed Block earnings exceed those assumed at January 1, 2001. Additionally, the presentation of all previously issued financial statements will be revised to include Closed Block assets and liabilities on a line-by-line basis as required by SOP 00-3. In December 1999, the staff of the Securities and Exchange Commission (the "SEC") issued Staff Accounting Bulletin ("SAB") No. 101, "Revenue Recognition in Financial Statements," which was effective fourth quarter 2000. SAB No. 101 addresses revenue recognition issues; its implementation did not have a material impact on the Company's consolidated financial position or earnings. Investments ----------- Fixed maturities identified as available for sale are reported at estimated fair value. Those fixed maturities which the Company has both the ability and the intent to hold to maturity, are stated principally at amortized cost. The amortized cost of fixed maturities is adjusted for impairments in value deemed to be other than temporary. Mortgage loans on real estate are stated at unpaid principal balances, net of unamortized discounts and valuation allowances. Valuation allowances are based on the present value of expected future cash flows discounted at the loan's original effective interest rate or on its collateral value if the loan is collateral dependent. However, if foreclosure is or becomes probable, the collateral value measurement method is used. F-9 Impaired mortgage loans without provision for losses are loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Changes in the present value attributable to changes in the amount or timing of expected cash flows are reported as investment gains or losses. Real estate, including real estate acquired in satisfaction of debt, is stated at depreciated cost less valuation allowances. At the date of foreclosure (including in-substance foreclosure), real estate acquired in satisfaction of debt is valued at estimated fair value. Impaired real estate is written down to fair value with the impairment loss being included in investment gains (losses), net. Valuation allowances on real estate held for sale are computed using the lower of depreciated cost or current estimated fair value, net of disposition costs. Depreciation is discontinued on real estate held for sale. Depreciation of real estate held for production of income is computed using the straight-line method over the estimated useful lives of the properties, which generally range from 40 to 50 years. Valuation allowances are netted against the asset categories to which they apply. Policy loans are stated at unpaid principal balances. Partnerships and joint venture interests in which the Company has control or a majority economic interest (that is, greater than 50% of the economic return generated by the entity) are consolidated; those in which the Company does not have control or a majority economic interest are reported on the equity basis of accounting and are included either with equity real estate or other equity investments, as appropriate. Equity securities includes common stock classified as both trading and available for sale securities and non-redeemable preferred stock; they are carried at estimated fair value and are included in other equity investments. Short-term investments are stated at amortized cost which approximates fair value and are included with other invested assets. Cash and cash equivalents includes cash on hand, amounts due from banks and highly liquid debt instruments purchased with an original maturity of three months or less. All securities owned as well as United States government and agency securities, mortgage-backed securities, futures and forwards transactions are recorded in the consolidated financial statements on a trade date basis. Net Investment Income, Investment Gains (Losses), Net and Unrealized Investment Gains (Losses) ------------------------------------------------------ Net investment income and realized investment gains (losses) related to certain participating group annuity contracts which are passed through to the contractholders are reflected as interest credited to policyholders' account balances. Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the valuation allowances are included in investment gains or losses. Realized and unrealized holding gains (losses) on trading securities are reflected in net investment income. Unrealized investment gains and losses on fixed maturities and equity securities available for sale held by the Company are accounted for as a separate component of accumulated comprehensive income, net of related deferred Federal income taxes, amounts attributable to Discontinued Operations, participating group annuity contracts and deferred policy acquisition costs ("DAC") related to universal life and investment-type products and participating traditional life contracts. F-10 Net investment income and investment gains (losses), net related to investment assets are collectively referred to as "investment results." Recognition of Insurance Income and Related Expenses ---------------------------------------------------- Premiums from universal life and investment-type contracts are reported as deposits to policyholders' account balances. Revenues from these contracts consist of amounts assessed during the period against policyholders' account balances for mortality charges, policy administration charges and surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policyholders' account balances. Premiums from participating and non-participating traditional life and annuity policies with life contingencies generally are recognized as income when due. Benefits and expenses are matched with such income so as to result in the recognition of profits over the life of the contracts. This match is accomplished by means of the provision for liabilities for future policy benefits and the deferral and subsequent amortization of policy acquisition costs. For contracts with a single premium or a limited number of premium payments due over a significantly shorter period than the total period over which benefits are provided, premiums are recorded as income when due with any excess profit deferred and recognized in income in a constant relationship to insurance in force or, for annuities, the amount of expected future benefit payments. Premiums from individual health contracts are recognized as income over the period to which the premiums relate in proportion to the amount of insurance protection provided. The Insurance Group assumes and cedes reinsurance with other insurance companies. The Insurance Group evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Ceded reinsurance does not relieve the originating insurer of liability. Deferred Policy Acquisition Costs --------------------------------- Acquisition costs, including commissions, underwriting, agency and policy issue expenses, all of which vary with and primarily are related to new business, are deferred. DAC is subject to recoverability testing at the time of policy issue and loss recognition testing at the end of each accounting period. For universal life products and investment-type products, DAC is amortized over the expected total life of the contract group as a constant percentage of estimated gross profits arising principally from investment results, mortality and expense margins and surrender charges based on historical and anticipated future experience, updated at the end of each accounting period. The effect on the amortization of DAC of revisions to estimated gross profits is reflected in earnings in the period such estimated gross profits are revised. The effect on the DAC asset that would result from realization of unrealized gains (losses) is recognized with an offset to accumulated comprehensive income in consolidated shareholder's equity as of the balance sheet date. For participating traditional life policies (substantially all of which are in the Closed Block), DAC is amortized over the expected total life of the contract group as a constant percentage based on the present value of the estimated gross margin amounts expected to be realized over the life of the contracts using the expected investment yield. At December 31, 2000, the expected investment yield, excluding policy loans, was 7.6% over a 40 year period. Estimated gross margin includes anticipated premiums and investment results less claims and administrative expenses, changes in the net level premium reserve and expected annual policyholder dividends. The effect on the amortization of DAC of revisions to estimated gross margins is reflected in earnings in the period such estimated gross margins are revised. The effect on the DAC asset that would result from realization of unrealized gains (losses) is recognized with an offset to accumulated comprehensive income in consolidated shareholder's equity as of the balance sheet date. For non-participating traditional life policies, DAC is amortized in proportion to anticipated premiums. Assumptions as to anticipated premiums are estimated at the date of policy issue and are consistently applied during the life of the contracts. Deviations from estimated experience are reflected in earnings in the period such deviations occur. For these contracts, the amortization periods generally are for the total life of the policy. F-11 In second quarter 1999, management completed a study of the cash flows and liability characteristics of its insurance product lines as compared to the expected cash flows of the underlying assets. That analysis reflected an assessment of the potential impact on future operating cash flows from current economic conditions and trends, including rising interest rates and securities market volatility and the impact of increasing competitiveness within the insurance marketplace (evidenced, for example, by the proliferation of bonus annuity products) on in-force business. The review indicated that changes to the then-current invested asset allocation strategy were required to reposition assets with greater price volatility away from products with demand liquidity characteristics to support those products with lower liquidity needs. To implement these findings, the existing investment portfolio was reallocated, and prospective investment allocation targets were revised. The reallocation of the assets impacted investment results by product, thereby impacting the future gross margin estimates utilized in the amortization of DAC for universal life and investment-type products. The revisions to estimated future gross profits resulted in an after-tax writedown of DAC of $85.6 million (net of a Federal income tax benefit of $46.1 million) in 1999. Policyholders' Account Balances and Future Policy Benefits Policyholders' account balances for universal life and investment-type contracts are equal to the policy account values. The policy account values represent an accumulation of gross premium payments plus credited interest less expense and mortality charges and withdrawals. For participating traditional life policies, future policy benefit liabilities are calculated using a net level premium method on the basis of actuarial assumptions equal to guaranteed mortality and dividend fund interest rates. The liability for annual dividends represents the accrual of annual dividends earned. Terminal dividends are accrued in proportion to gross margins over the life of the contract. For non-participating traditional life insurance policies, future policy benefit liabilities are estimated using a net level premium method on the basis of actuarial assumptions as to mortality, persistency and interest established at policy issue. Assumptions established at policy issue as to mortality and persistency are based on the Insurance Group's experience which, together with interest and expense assumptions, includes a margin for adverse deviation. When the liabilities for future policy benefits plus the present value of expected future gross premiums for a product are insufficient to provide for expected future policy benefits and expenses for that product, DAC is written off and thereafter, if required, a premium deficiency reserve is established by a charge to earnings. Benefit liabilities for traditional annuities during the accumulation period are equal to accumulated contractholders' fund balances and after annuitization are equal to the present value of expected future payments. Interest rates used in establishing such liabilities range from 2.25% to 10.9% for life insurance liabilities and from 2.25% to 8.15% for annuity liabilities. Individual health benefit liabilities for active lives are estimated using the net level premium method and assumptions as to future morbidity, withdrawals and interest. Benefit liabilities for disabled lives are estimated using the present value of benefits method and experience assumptions as to claim terminations, expenses and interest. While management believes its disability income ("DI") reserves have been calculated on a reasonable basis and are adequate, there can be no assurance reserves will be sufficient to provide for future liabilities. F-12 Claim reserves and associated liabilities for individual DI and major medical policies were $120.3 million and $948.4 million at December 31, 2000 and 1999, respectively. At December 31, 2000, $1,046.5 million of DI reserves and associated liabilities were ceded through an indemnity reinsurance agreement (see Note 14). Incurred benefits (benefits paid plus changes in claim reserves) and benefits paid for individual DI and major medical are summarized as follows:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Incurred benefits related to current year.......... $ 56.1 $ 150.7 $ 140.1 Incurred benefits related to prior years........... 15.0 64.7 84.2 ----------------- ---------------- ----------------- Total Incurred Benefits............................ $ 71.1 $ 215.4 $ 224.3 ================= ================ ================= Benefits paid related to current year.............. $ 14.8 $ 28.9 $ 17.0 Benefits paid related to prior years............... 106.0 189.8 155.4 ----------------- ---------------- ----------------- Total Benefits Paid................................ $ 120.8 $ 218.7 $ 172.4 ================= ================ =================
Policyholders' Dividends ------------------------ The amount of policyholders' dividends to be paid (including dividends on policies included in the Closed Block) is determined annually by Equitable Life's board of directors. The aggregate amount of policyholders' dividends is related to actual interest, mortality, morbidity and expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by Equitable Life. At December 31, 2000, participating policies, including those in the Closed Block, represent approximately 20.8% ($41.1 billion) of directly written life insurance in force, net of amounts ceded. Separate Accounts ----------------- Separate Accounts established under New York State Insurance Law generally are not chargeable with liabilities that arise from any other business of the Insurance Group. Separate Accounts assets are subject to General Account claims only to the extent Separate Accounts assets exceed Separate Accounts liabilities. Assets and liabilities of the Separate Accounts represent the net deposits and accumulated net investment earnings less fees, held primarily for the benefit of contractholders, and for which the Insurance Group does not bear the investment risk. They are shown as separate lines in the consolidated balance sheets. The Insurance Group bears the investment risk on assets held in one Separate Account; therefore, such assets are carried on the same basis as similar assets held in the General Account portfolio. Assets held in the other Separate Accounts are carried at quoted market values or, where quoted values are not available, at estimated fair values as determined by the Insurance Group. The investment results of Separate Accounts on which the Insurance Group does not bear the investment risk are reflected directly in Separate Accounts liabilities. For 2000, 1999 and 1998, investment results of such Separate Accounts were $8,051.7 million, $6,045.5 million and $4,591.0 million, respectively. Deposits to Separate Accounts are reported as increases in Separate Accounts liabilities and are not reported in revenues. Mortality, policy administration and surrender charges on all Separate Accounts are included in revenues. Other Accounting Policies ------------------------- In accordance with regulations of the SEC, securities with a fair value of $1.31 billion have been segregated in a special reserve bank custody account for the exclusive benefit of customers under Rule 15c-3-3 at December 31, 2000. Intangible assets consist principally of goodwill resulting from acquisitions and costs assigned to contracts of businesses acquired. Goodwill is being amortized on a straight-line basis over estimated useful lives ranging from twenty to forty years. Costs assigned to investment contracts of businesses acquired are being amortized on a straight-line basis over estimated useful lives of twenty years. Impairment of intangible assets is evaluated by comparing the undiscounted cash flows expected to be realized from those intangible F-13 assets to their recorded values, pursuant to SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of". If the expected future cash flows are less than the carrying value of intangible assets, an impairment loss is recognized for the difference between the carrying amount and the estimated fair value of those intangible assets. Capitalized internal-use software is amortized on a straight-line basis over the estimated useful life of the software. The Company files a consolidated Federal income tax return with the Holding Company and its consolidated subsidiaries. Current Federal income taxes are charged or credited to operations based upon amounts estimated to be payable or recoverable as a result of taxable operations for the current year. Deferred income tax assets and liabilities are recognized based on the difference between financial statement carrying amounts and income tax bases of assets and liabilities using enacted income tax rates and laws. Minority interest subject to redemption rights represents the 40.8 million private Alliance Units issued to former Bernstein shareholders in connection with Alliance's acquisition of Bernstein. The Holding Company has agreed to provide liquidity to these former Bernstein shareholders after a two-year period by allowing the 40.8 million Alliance Units to be sold to the Holding Company over the subsequent eight years but generally not more than 20% of such Units in any one annual period. Commissions, fees and other income principally include Investment Management advisory and service fees. Investment Management advisory and service fees are recorded as revenue as the related services are performed. Certain investment advisory contracts provide for a performance fee, in addition to or in lieu of a base fee, that is calculated as a percentage of the related investment results over a specified period of time. Performance fees are recorded as revenue at the end of the measurement period. Sales commissions paid to financial intermediaries in connection with the sale of shares of open-end Alliance mutual funds sold without a front-end sales charge are capitalized and amortized over periods not exceeding five and one-half years, the period of time during which deferred sales commissions are expected to be recovered from distribution plan payments received from those funds upon the redemption of their shares. Contingent deferred sales charges reduce unamortized deferred sales commissions when received. At December 31, 2000 and 1999, respectively, deferred sales commissions totaled $715.7 million and $604.7 million and are included with other assets. The Company accounts for its stock option plans in accordance with the provisions of Accounting Principles Board Opinion ("APB") No. 25, "Accounting for Stock Issued to Employees," and related interpretations. In accordance with the opinion, compensation expense is recorded on the date of grant only if the current market price of the underlying stock exceeds the option strike price at the grant date. See Note 20 for the pro forma disclosures required by SFAS No. 123, "Accounting for Stock-Based Compensation". F-14 3) INVESTMENTS The following tables provide additional information relating to fixed maturities and equity securities:
GROSS GROSS AMORTIZED UNREALIZED UNREALIZED ESTIMATED COST GAINS LOSSES FAIR VALUE ----------------- ----------------- ---------------- ----------------- (IN MILLIONS) DECEMBER 31, 2000 Fixed Maturities: Available for Sale: Corporate.......................... $ 12,481.0 $ 241.5 $ 298.9 $ 12,423.6 Mortgage-backed.................... 2,215.1 19.2 7.8 2,226.5 U.S. Treasury, government and agency securities................ 938.1 40.2 .5 977.8 States and political subdivisions.. 110.4 4.5 1.0 113.9 Foreign governments................ 177.4 17.3 5.2 189.5 Redeemable preferred stock......... 315.5 13.4 8.7 320.1 ----------------- ----------------- ---------------- ----------------- Total Available for Sale............... $ 16,237.5 $ 336.1 $ 322.1 $ 16,251.4 ================= ================= ================ ================= Held to Maturity: Corporate......... $ 204.6 $ 6.0 $ .1 $ 210.5 ================= ================= ================ ================= Equity Securities: Available for sale................... $ 22.0 $ 1.7 $ 4.7 $ 19.0 Trading securities................... 1,606.3 1.8 46.2 1,561.9 ----------------- ----------------- ---------------- ----------------- Total Equity Securities................ $ 1,628.3 $ 3.5 $ 50.9 $ 1,580.9 ================= ================= ================ ================= December 31, 1999 Fixed Maturities: Available for Sale: Corporate.......................... $ 14,866.8 $ 139.5 $ 787.0 $ 14,219.3 Mortgage-backed.................... 2,554.5 2.3 87.8 2,469.0 U.S. Treasury, government and agency securities................ 1,194.1 18.9 23.4 1,189.6 States and political subdivisions.. 110.0 1.4 4.9 106.5 Foreign governments................ 361.8 16.2 14.8 363.2 Redeemable preferred stock......... 286.4 1.7 36.0 252.1 ----------------- ----------------- ---------------- ----------------- Total Available for Sale............... $ 19,373.6 $ 180.0 $ 953.9 $ 18,599.7 ================= ================= ================ ================= Held to Maturity: Corporate......... $ 133.2 $ - $ - $ 133.2 ================= ================= ================ ================= Equity Securities: Available for sale................... $ 25.5 $ 1.5 $ 17.8 $ 9.2 Trading securities................... 7.2 9.1 2.2 14.1 ----------------- ----------------- ---------------- ----------------- Total Equity Securities................ $ 32.7 $ 10.6 $ 20.0 $ 23.3 ================= ================= ================ =================
For publicly-traded fixed maturities and equity securities, estimated fair value is determined using quoted market prices. For fixed maturities without a readily ascertainable market value, the Company determines estimated fair values using a discounted cash flow approach, including provisions for credit risk, generally based on the assumption such securities will be held to maturity. Such estimated fair values do not necessarily represent the values for which these securities could have been sold at the dates of the consolidated balance sheets. At December 31, 2000 and 1999, securities without a readily ascertainable market value having an amortized cost of $2,820.2 million and $3,322.2 million, respectively, had estimated fair values of $2,838.2 million and $3,177.7 million, respectively. F-15 The contractual maturity of bonds at December 31, 2000 is shown below:
AVAILABLE FOR SALE ------------------------------------ AMORTIZED ESTIMATED COST FAIR VALUE ---------------- ----------------- (IN MILLIONS) Due in one year or less................................................ $ 568.2 $ 568.2 Due in years two through five.......................................... 2,850.0 2,848.1 Due in years six through ten........................................... 5,277.2 5,239.9 Due after ten years.................................................... 5,011.6 5,048.6 Mortgage-backed securities............................................. 2,215.1 2,226.5 ---------------- ----------------- Total.................................................................. $ 15,922.1 $ 15,931.3 ================ =================
Corporate bonds held to maturity with an amortized cost and estimated fair value of $142.4 million are due from one to five years. Bonds not due at a single maturity date have been included in the above table in the year of final maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The Insurance Group's fixed maturity investment portfolio includes corporate high yield securities consisting of public high yield bonds, redeemable preferred stocks and directly negotiated debt in leveraged buyout transactions. The Insurance Group seeks to minimize the higher than normal credit risks associated with such securities by monitoring concentrations in any single issuer or a particular industry group. Certain of these corporate high yield securities are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa or National Association of Insurance Commissioners ("NAIC") designation of 3 (medium grade), 4 or 5 (below investment grade) or 6 (in or near default). At December 31, 2000, approximately 12% of the $16,126.6 million aggregate amortized cost of bonds held by the Company was considered to be other than investment grade. The Insurance Group holds equity in limited partnership interests which primarily invest in securities considered to be other than investment grade. The carrying values at December 31, 2000 and 1999 were $811.9 million and $647.9 million, respectively. At December 31, 2000, the carrying value of fixed maturities which are non-income producing for the twelve months preceding the consolidated balance sheet date was $60.3 million. The payment terms of mortgage loans on real estate may from time to time be restructured or modified. The investment in restructured mortgage loans on real estate, based on amortized cost, amounted to $92.9 million and $106.0 million at December 31, 2000 and 1999, respectively. Gross interest income on these loans included in net investment income aggregated $7.8 million, $8.2 million and $8.3 million in 2000, 1999 and 1998, respectively. Gross interest income on restructured mortgage loans on real estate that would have been recorded in accordance with the original terms of such loans amounted to $8.7 million, $9.5 million and $10.3 million in 2000, 1999 and 1998, respectively. Impaired mortgage loans along with the related provision for losses were as follows:
DECEMBER 31, ---------------------------------------- 2000 1999 ------------------- ------------------- (IN MILLIONS) Impaired mortgage loans with provision for losses.................. $ 144.2 $ 142.4 Impaired mortgage loans without provision for losses............... 1.8 2.2 ------------------- ------------------- Recorded investment in impaired mortgage loans..................... 146.0 144.6 Provision for losses............................................... (37.0) (23.0) ------------------- ------------------- Net Impaired Mortgage Loans........................................ $ 109.0 $ 121.6 =================== ===================
F-16 During 2000, 1999 and 1998, respectively, the Company's average recorded investment in impaired mortgage loans was $138.8 million, $141.7 million and $161.3 million. Interest income recognized on these impaired mortgage loans totaled $10.4 million, $12.0 million and $12.3 million ($.5 million, $.0 million and $.9 million recognized on a cash basis) for 2000, 1999 and 1998, respectively. The Insurance Group's investment in equity real estate is through direct ownership and through investments in real estate joint ventures. At December 31, 2000 and 1999, the carrying value of equity real estate held for sale amounted to $526.3 million and $382.2 million, respectively. For 2000, 1999 and 1998, respectively, real estate of $.3 million, $20.5 million and $7.1 million was acquired in satisfaction of debt. At December 31, 2000 and 1999, the Company owned $322.3 million and $443.9 million, respectively, of real estate acquired in satisfaction of debt. Accumulated depreciation on real estate was $208.8 million and $251.6 million at December 31, 2000 and 1999, respectively. Depreciation expense on real estate totaled $21.7 million, $21.8 million and $30.5 million for 2000, 1999 and 1998, respectively. Investment valuation allowances and changes thereto are shown below:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Balances, beginning of year........................ $ 148.6 $ 230.6 $ 384.5 Additions charged to income........................ 53.7 68.2 86.2 Deductions for writedowns and asset dispositions............................... (102.4) (150.2) (240.1) ----------------- ---------------- ----------------- Balances, End of Year.............................. $ 99.9 $ 148.6 $ 230.6 ================= ================ ================= Balances, end of year comprise: Mortgage loans on real estate.................... $ 41.4 $ 27.5 $ 34.3 Equity real estate............................... 58.5 121.1 196.3 ----------------- ---------------- ----------------- Total.............................................. $ 99.9 $ 148.6 $ 230.6 ================= ================ =================
F-17 4) JOINT VENTURES AND PARTNERSHIPS Summarized combined financial information for unconsolidated real estate joint ventures (14 individual ventures at both December 31, 2000 and 1999) and for limited partnership interests accounted for under the equity method, in which the Company has an investment of $10.0 million or greater and an equity interest of 10% or greater, follows:
DECEMBER 31, ------------------------------------ 2000 1999 ---------------- ----------------- (IN MILLIONS) BALANCE SHEETS Investments in real estate, at depreciated cost........................ $ 730.1 $ 861.1 Investments in securities, generally at estimated fair value........... 226.6 262.0 Cash and cash equivalents.............................................. 43.9 68.4 Other assets........................................................... 65.5 232.5 ---------------- ----------------- Total Assets........................................................... $ 1,066.1 $ 1,424.0 ================ ================= Borrowed funds - third party........................................... $ 249.9 $ 354.2 Borrowed funds - AXA Financial......................................... 12.9 28.9 Other liabilities...................................................... 26.3 191.2 ---------------- ----------------- Total liabilities...................................................... 289.1 574.3 ---------------- ----------------- Partners' capital...................................................... 777.0 849.7 ---------------- ----------------- Total Liabilities and Partners' Capital................................ $ 1,066.1 $ 1,424.0 ================ ================= Equity in partners' capital included above............................. $ 272.3 $ 298.5 Equity in limited partnership interests not included above and other... 720.7 542.1 ---------------- ----------------- Carrying Value......................................................... $ 993.0 $ 840.6 ================ =================
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) STATEMENTS OF EARNINGS Revenues of real estate joint ventures............. $ 187.1 $ 180.5 $ 246.1 Revenues of other limited partnership interests.... 16.5 85.0 128.9 Interest expense - third party..................... (32.5) (26.6) (33.3) Interest expense - AXA Financial................... (2.0) (2.5) (2.6) Other expenses..................................... (126.4) (133.0) (197.0) ----------------- ---------------- ----------------- Net Earnings....................................... $ 42.7 $ 103.4 $ 142.1 ================= ================ ================= Equity in net earnings included above.............. $ 17.7 $ 9.4 $ 44.4 Equity in net earnings of limited partnership interests not included above..................... 216.3 77.1 37.9 ----------------- ---------------- ----------------- Total Equity in Net Earnings....................... $ 234.0 $ 86.5 $ 82.3 ================= ================ =================
F-18 5) NET INVESTMENT INCOME AND INVESTMENT GAINS (LOSSES) The sources of net investment income follows:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Fixed maturities................................... $ 1,439.2 $ 1,499.8 $ 1,489.0 Mortgage loans on real estate...................... 257.3 253.4 235.4 Equity real estate................................. 191.6 250.2 356.1 Other equity investments........................... 129.8 165.1 83.8 Policy loans....................................... 156.7 143.8 144.9 Other investment income............................ 199.3 161.3 185.7 ----------------- ---------------- ----------------- Gross investment income.......................... 2,373.9 2,473.6 2,494.9 Investment expenses.............................. (200.7) (232.7) (266.8) ----------------- ---------------- ----------------- Net Investment Income.............................. $ 2,173.2 $ 2,240.9 $ 2,228.1 ================= ================ =================
Investment (losses) gains, net, including changes in the valuation allowances, follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Fixed maturities................................... $ (766.1) $ (290.9) $ (24.3) Mortgage loans on real estate...................... (15.1) (3.3) (10.9) Equity real estate................................. 4.8 (2.4) 74.5 Other equity investments........................... (22.6) 88.1 29.9 Sale of subsidiaries............................... - - (2.6) Issuance and sales of Alliance Units............... 3.9 5.5 19.8 Issuance and sales of DLJ common stock............. 38.8 106.0 18.2 Other.............................................. .3 .1 (4.4) ----------------- ---------------- ----------------- Investment (Losses) Gains, Net..................... $ (756.0) $ (96.9) $ 100.2 ================= ================ =================
Writedowns of fixed maturities amounted to $607.8 million, $223.2 million and $101.6 million for 2000, 1999 and 1998, respectively, including $472.2 million in fourth quarter 2000. For 2000, 1999 and 1998, respectively, proceeds received on sales of fixed maturities classified as available for sale amounted to $7,361.5 million, $7,138.6 million and $15,961.0 million. Gross gains of $78.7 million, $74.7 million and $149.3 million and gross losses of $215.4 million, $214.3 million and $95.1 million, respectively, were realized on these sales. The change in unrealized investment gains (losses) related to fixed maturities classified as available for sale for 2000, 1999 and 1998 amounted to $789.1 million, $(1,313.8) million and $(331.7) million, respectively. On November 3, 2000, the Company sold its interest in DLJ to Credit Suisse Group ("CSG"). The Company received $1.05 billion in cash and $2.19 billion (or 11.4 million shares) in CSG common stock, 2.8 million shares of which were immediately repurchased by CSG at closing. The CSG shares have been designated as trading account securities. The remaining 8.2 million shares held by the Company had a carrying value of $1.56 billion at December 31, 2000 and were sold in January 2001. Net investment income for 2000 included holding losses of $43.2 million on the CSG shares. On January 1, 1999, investments in publicly-traded common equity securities in the General Account portfolio within other equity investments amounting to $102.3 million were transferred from available for sale securities to trading securities. As a result of this transfer, unrealized investment gains of $83.3 million ($43.2 million net of related DAC and Federal income taxes) were recognized as realized investment gains in the consolidated statements of earnings. In 2000 and 1999, respectively, net unrealized holding (losses) gains of $(44.4) million and $6.9 million were included in net investment income in the F-19 consolidated statements of earnings. These trading securities had a carrying value of $1,561.9 million and $14.1 million and costs of $1,606.3 million and $7.2 million at December 31, 2000 and 1999, respectively. For 2000, 1999 and 1998, investment results passed through to certain participating group annuity contracts as interest credited to policyholders' account balances amounted to $110.6 million, $131.5 million and $136.9 million, respectively. Net unrealized investment gains (losses), included in the consolidated balance sheets as a component of accumulated comprehensive income and the changes for the corresponding years including Closed Block and Discontinued Operations on a line-by-line basis, follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Balance, beginning of year......................... $ (392.8) $ 384.1 $ 533.6 Changes in unrealized investment (losses) gains.... 979.7 (1,821.3) (168.7) Changes in unrealized investment losses (gains) attributable to: Participating group annuity contracts and other...................................... (18.3) 25.0 (5.4) DAC............................................ (262.1) 493.1 (28.8) Deferred Federal income taxes.................. (293.6) 526.3 53.4 ----------------- ---------------- ----------------- Balance, End of Year............................... $ 12.9 $ (392.8) $ 384.1 ================= ================ ================= Balance, end of year comprises: Unrealized investment gains (losses) on: Fixed maturities............................... $ 65.9 $ (904.6) $ 766.0 Other equity investments....................... (2.3) (22.2) 86.5 Other.......................................... (1.2) 9.4 51.6 ----------------- ---------------- ----------------- Total........................................ 62.4 (917.4) 904.1 Amounts of unrealized investment (losses) gains attributable to: Participating group annuity contracts and other.................................... (15.3) 3.0 (22.0) DAC.......................................... (28.3) 233.8 (259.3) Deferred Federal income taxes................ (5.9) 287.8 (238.7) ----------------- ---------------- ----------------- Total.............................................. $ 12.9 $ (392.8) $ 384.1 ================= ================ =================
Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities and equity securities classified as available for sale and do not reflect any changes in fair value of policyholders' account balances and future policy benefits. F-20 6) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) represents cumulative gains and losses on items that are not reflected in earnings. The balances for the past three years follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Unrealized gains (losses) on investments........... $ 12.9 $ (392.8) $ 384.1 Minimum pension liability.......................... (.1) (.1) (28.3) ----------------- ---------------- ----------------- Total Accumulated Other Comprehensive Income (Loss)...................... $ 12.8 $ (392.9) $ 355.8 ================= ================ =================
The components of other comprehensive income (loss) for the past three years follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period..................................... $ 191.0 $ (1,625.6) $ (112.4) Losses (gains) reclassified into net earnings during the period.............................. 788.7 (195.7) (56.3) ----------------- ---------------- ----------------- Net unrealized gains (losses) on investments....... 979.7 (1,821.3) (168.7) Adjustments for policyholders liabilities, DAC and deferred Federal income taxes.......... (574.0) 1,044.4 19.2 ----------------- ---------------- ----------------- Change in unrealized gains (losses), net of adjustments.................................... 405.7 (776.9) (149.5) Change in minimum pension liability................ - 28.2 (11.0) ----------------- ---------------- ----------------- Total Other Comprehensive Income (Loss)............ $ 405.7 $ (748.7) $ (160.5) ================= ================ =================
F-21 7) CLOSED BLOCK Summarized financial information for the Closed Block follows:
DECEMBER 31, -------------------------------------- 2000 1999 ----------------- ----------------- (IN MILLIONS) BALANCE SHEETS Fixed Maturities: Available for sale, at estimated fair value (amortized cost, $4,373.5 and $4,144.8)........................................... $ 4,408.0 $ 4,014.0 Mortgage loans on real estate........................................ 1,581.8 1,704.2 Policy loans......................................................... 1,557.7 1,593.9 Cash and other invested assets....................................... 174.7 194.4 Deferred policy acquisitions costs................................... 699.7 895.5 Other assets......................................................... 237.1 205.3 ----------------- ----------------- Total Assets......................................................... $ 8,659.0 $ 8,607.3 ================= ================= Future policy benefits and policyholders' account balances........... $ 9,026.4 $ 9,011.7 Other liabilities.................................................... 23.8 13.3 ----------------- ----------------- Total Liabilities.................................................... $ 9,050.2 $ 9,025.0 ================= =================
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) STATEMENTS OF EARNINGS Premiums and other revenue......................... $ 594.7 $ 619.1 $ 661.7 Investment income (net of investment expenses of $8.1, $15.8 and $15.5)............... 578.7 574.2 569.7 Investment (losses) gains, net..................... (35.8) (11.3) .5 ----------------- ---------------- ----------------- Total revenues............................... 1,137.6 1,182.0 1,231.9 ----------------- ---------------- ----------------- Policyholders' benefits and dividends.............. 1,025.2 1,024.7 1,082.0 Other operating costs and expenses................. 19.7 70.9 62.8 ----------------- ---------------- ----------------- Total benefits and other deductions.......... 1,044.9 1,095.6 1,144.8 ----------------- ---------------- ----------------- Contribution from the Closed Block................. $ 92.7 $ 86.4 $ 87.1 ================= ================ =================
Impaired mortgage loans along with the related provision for losses follows:
DECEMBER 31, ------------------------------------ 2000 1999 ---------------- ----------------- (IN MILLIONS) Impaired mortgage loans with provision for losses...................... $ 26.7 $ 26.8 Impaired mortgage loans without provision for losses................... 4.0 4.5 ---------------- ----------------- Recorded investment in impaired mortgages.............................. 30.7 31.3 Provision for losses................................................... (8.7) (4.1) ---------------- ----------------- Net Impaired Mortgage Loans............................................ $ 22.0 $ 27.2 ================ =================
During 2000, 1999 and 1998, the Closed Block's average recorded investment in impaired mortgage loans was $31.0 million, $37.0 million and $85.5 million, respectively. Interest income recognized on these impaired mortgage loans totaled $2.0 million, $3.3 million and $4.7 million ($.1 million, $.3 million and $1.5 million recognized on a cash basis) for 2000, 1999 and 1998, respectively. F-22 Valuation allowances amounted to $9.1 million and $4.6 million on mortgage loans on real estate and $17.2 million and $24.7 million on equity real estate at December 31, 2000 and 1999, respectively. Writedowns of fixed maturities amounted to $27.7 million and 3.3 million for 2000 and 1999, respectively, including $20.0 million in fourth quarter 2000. Many expenses related to Closed Block operations are charged to operations outside of the Closed Block; accordingly, the contribution from the Closed Block does not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. 8) DISCONTINUED OPERATIONS Summarized financial information for Discontinued Operations follows:
DECEMBER 31, -------------------------------------- 2000 1999 ----------------- ----------------- (IN MILLIONS) BALANCE SHEETS Mortgage loans on real estate........................................ $ 330.9 $ 454.6 Equity real estate................................................... 350.9 426.6 Fixed maturities, available for sale, at estimated fair value (amortized cost of $321.5 and $85.3)............................... 336.5 85.5 Other equity investments............................................. 43.1 55.8 Other invested assets................................................ 1.9 1.6 ----------------- ----------------- Total investments.................................................. 1,063.3 1,024.1 Cash and cash equivalents............................................ 84.3 164.5 Other assets......................................................... 148.8 213.0 ----------------- ----------------- Total Assets......................................................... $ 1,296.4 $ 1,401.6 ================= ================= Policyholder liabilities............................................. $ 966.8 $ 993.3 Allowance for future losses.......................................... 159.8 242.2 Other liabilities.................................................... 169.8 166.1 ----------------- ----------------- Total Liabilities.................................................... $ 1,296.4 $ 1,401.6 ================= =================
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) STATEMENTS OF EARNINGS Investment income (net of investment expenses of $37.0, $49.3 and $63.3).............. $ 102.2 $ 98.7 $ 160.4 Investment (losses) gains, net..................... (6.6) (13.4) 35.7 Policy fees, premiums and other income............. .7 .2 (4.3) ----------------- ---------------- ----------------- Total revenues..................................... 96.3 85.5 191.8 Benefits and other deductions...................... 106.9 104.8 141.5 (Losses charged) earnings credited to allowance for future losses................................ (10.6) (19.3) 50.3 ----------------- ---------------- ----------------- Pre-tax loss from operations....................... - - - Pre-tax earnings from releasing the allowance for future losses................................ 90.2 43.3 4.2 Federal income tax expense......................... (31.6) (15.2) (1.5) ----------------- ---------------- ----------------- Earnings from Discontinued Operations.......................... $ 58.6 $ 28.1 $ 2.7 ================= ================ =================
F-23 The Company's quarterly process for evaluating the allowance for future losses applies the current period's results of discontinued operations against the allowance, re-estimates future losses and adjusts the allowance, if appropriate. Additionally, as part of the Company's annual planning process which takes place in the fourth quarter of each year, investment and benefit cash flow projections are prepared. These updated assumptions and estimates resulted in a release of allowance in each of the three years presented. Benefits and other deductions included $26.6 million of interest expense related to amounts borrowed from continuing operations in 1998. Valuation allowances of $2.9 million and $1.9 million on mortgage loans on real estate and $11.4 million and $54.8 million on equity real estate were held at December 31, 2000 and 1999, respectively. During 2000, 1999 and 1998, other discontinued operations' average recorded investment in impaired mortgage loans was $11.3 million, $13.8 million and $73.3 million, respectively. Interest income recognized on these impaired mortgage loans totaled $.9 million, $1.7 million and $4.7 million ($.5 million, $.0 million and $3.4 million recognized on a cash basis) for 2000, 1999 and 1998, respectively. At December 31, 2000 and 1999, Discontinued Operations had real estate acquired in satisfaction of debt with carrying values of $4.5 million and $24.1 million, respectively. 9) SHORT-TERM AND LONG-TERM DEBT Short-term and long-term debt consists of the following:
DECEMBER 31, -------------------------------------- 2000 1999 ----------------- ----------------- (IN MILLIONS) Short-term debt...................................................... $ 782.2 $ 557.0 ----------------- ----------------- Long-term debt: Equitable Life: Surplus notes, 6.95% due 2005...................................... 399.6 399.5 Surplus notes, 7.70% due 2015...................................... 199.7 199.7 Other.............................................................. .3 .4 ----------------- ----------------- Total Equitable Life........................................... 599.6 599.6 ----------------- ----------------- Wholly Owned and Joint Venture Real Estate: Mortgage notes, 5.43% - 9.5%, due through 2017..................... 248.3 251.3 ----------------- ----------------- Total long-term debt................................................. 847.9 850.9 ----------------- ----------------- Total Short-term and Long-term Debt.................................. $ 1,630.1 $ 1,407.9 ================= =================
Short-term Debt --------------- Equitable Life has a $350.0 million 5-year bank credit facility and a $350.0 million 364-day credit facility. The interest rates are based on external indices dependent on the type of borrowing ranging from 6.93% to 6.97%. No amounts were outstanding under these credit facilities at December 31, 2000. Equitable Life has a commercial paper program with an issue limit of $1.0 billion. This program is available for general corporate purposes used to support Equitable Life's liquidity needs and is supported by Equitable Life's existing $700.0 million bank credit facilities. At December 31, 2000, there were no amounts outstanding under this program. Alliance has a $425.0 million five-year revolving credit facility and a $200.0 million three-year revolving credit facility with a group of commercial banks. Borrowings from the revolving credit facility and the original commercial paper program may not exceed $425.0 million in the aggregate. Under the facilities, the interest rate, at the option of Alliance, is a floating rate generally based upon a defined prime rate, a rate related to the London Interbank Offered Rate ("LIBOR") or the Federal Funds Rate. A facility fee is payable on the total facility. In October 2000, Alliance entered into a $250.0 million two-year revolving credit facility using terms substantially similar to the $425.0 million and $200.0 million revolving credit facilities. The revolving credit facilities will be used to provide backup liquidity for Alliance's F-24 commercial program, to fund commission payments to financial intermediaries for the sale of certain mutual funds and for general working capital purposes. The revolving credit facilities contain covenants that require Alliance to, among other things, meet certain financial ratios. At December 31, 2000, Alliance had commercial paper outstanding totaling $396.9 million at an effective interest rate of 6.7%; and $284.0 million at an effective interest rate of 7.0% in borrowings outstanding under Alliance's revolving credit facilities. In December 1999, Alliance established a $100.0 million extendible commercial notes ("ECN") program to supplement its commercial paper program. ECN's are short-term debt instruments that do not require any back-up liquidity support. At December 31, 2000, $98.2 million was outstanding under the ECN program with an effective interest rate of 6.8%. Long-term Debt -------------- Several of the long-term debt agreements have restrictive covenants related to the total amount of debt, net tangible assets and other matters. At December 31, 2000, the Company is in compliance with all debt covenants. At December 31, 2000 and 1999, respectively, the Company has pledged real estate of $298.8 million and $323.6 million as collateral for certain long-term debt. At December 31, 2000, aggregate maturities of the long-term debt based on required principal payments at maturity is $248.6 million for 2001, $400.0 million for 2005 and $200.0 million for 2006 and thereafter. 10) FEDERAL INCOME TAXES A summary of the Federal income tax expense in the consolidated statements of earnings follows:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Federal income tax expense: Current.......................................... $ 820.6 $ 174.0 $ 283.3 Deferred......................................... 137.7 158.0 69.8 ----------------- ---------------- ----------------- Total.............................................. $ 958.3 $ 332.0 $ 353.1 ================= ================ =================
The Federal income taxes attributable to consolidated operations are different from the amounts determined by multiplying the earnings before Federal income taxes and minority interest by the expected Federal income tax rate of 35%. The sources of the difference and their tax effects follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Expected Federal income tax expense................ $ 904.9 $ 458.4 $ 414.3 Minority interest.................................. (117.9) (47.8) (33.2) Non deductible stock option compensation expense.......................................... 34.4 - - Subsidiary gains................................... 161.4 (37.1) (6.4) Adjustment of tax audit reserves................... 17.9 27.8 16.0 Equity in unconsolidated subsidiaries.............. (48.7) (64.0) (39.3) Other.............................................. 6.3 (5.3) 1.7 ----------------- ---------------- ----------------- Federal Income Tax Expense......................... $ 958.3 $ 332.0 $ 353.1 ================= ================ =================
F-25 The components of the net deferred Federal income taxes are as follows:
DECEMBER 31, 2000 DECEMBER 31, 1999 --------------------------------- --------------------------------- ASSETS LIABILITIES ASSETS LIABILITIES --------------- ---------------- --------------- --------------- (IN MILLIONS) Compensation and related benefits...... $ - $ 79.7 $ - $ 37.7 Other.................................. 4.9 - - 20.6 DAC, reserves and reinsurance.......... - 733.0 - 329.7 Investments............................ - 229.2 115.1 - --------------- ---------------- --------------- --------------- Total.................................. $ 4.9 $ 1,041.9 $ 115.1 $ 388.0 =============== ================ =============== ===============
At December 31, 1999, $236.8 million in deferred tax assets were transferred to the Holding Company in conjunction with its assumption of the non-qualified employee benefit liabilities. See Note 12 for discussion of the benefit plans transferred. The deferred Federal income taxes impacting operations reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The sources of these temporary differences and their tax effects follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) DAC, reserves and reinsurance...................... $ 403.3 $ 83.2 $ (7.7) Investments........................................ (140.7) 3.2 46.8 Compensation and related benefits.................. (96.4) 21.0 28.6 Other.............................................. (28.5) 50.6 2.1 ----------------- ---------------- ----------------- Deferred Federal Income Tax Expense.......................................... $ 137.7 $ 158.0 $ 69.8 ================= ================ =================
Federal income taxes payable at December 31, 2000 included $858.2 million of taxes related to the gain on disposal of DLJ. The Internal Revenue Service (the "IRS") is in the process of examining the Holding Company's consolidated Federal income tax returns for the years 1992 through 1996. Management believes these audits will have no material adverse effect on the Company's results of operations. 11) REINSURANCE AGREEMENTS The effect of reinsurance (excluding group life and health) is summarized as follows:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Direct premiums.................................... $ 508.6 $ 420.6 $ 438.8 Reinsurance assumed................................ 194.2 206.7 203.6 Reinsurance ceded.................................. (122.9) (69.1) (54.3) ----------------- ---------------- ----------------- Premiums........................................... $ 579.9 $ 558.2 $ 588.1 ================= ================ ================= Universal Life and Investment-type Product Policy Fee Income Ceded.......................... $ 92.1 $ 69.7 $ 75.7 ================= ================ ================= Policyholders' Benefits Ceded...................... $ 202.6 $ 99.6 $ 85.9 ================= ================ ================= Interest Credited to Policyholders' Account Balances Ceded................................... $ 46.5 $ 38.5 $ 39.5 ================= ================ =================
F-26 Since 1997, the Company reinsures on a yearly renewal term basis 90% of the mortality risk on new issues of certain term, universal and variable life products. The Company's retention limit on joint survivorship policies is $15.0 million. All other in force business above $5.0 million is reinsured. The Insurance Group also reinsures the entire risk on certain substandard underwriting risks and in certain other cases. During July 2000, Equitable Life transferred, at no gain or loss, all the risk of its directly written DI business for years 1993 and prior through an indemnity reinsurance contract. The cost of the arrangement will be amortized over the expected lives of the contracts reinsured and will not have a significant impact on the results of operations in any specific period. At December 31, 2000 and 1999, respectively, reinsurance recoverables related to insurance contracts outside of the Closed Block amounting to $1,989.2 million and $881.5 million are included in the consolidated balance sheets in other assets and reinsurance payables related to insurance contracts outside of the Closed Block amounting to $730.3 million and $682.5 million are included in other liabilities. The Insurance Group cedes 100% of its group life and health business to a third party insurer. Insurance liabilities ceded totaled $487.7 million and $510.5 million at December 31, 2000 and 1999, respectively. 12) EMPLOYEE BENEFIT PLANS The Company sponsors qualified and non-qualified defined benefit plans covering substantially all employees (including certain qualified part-time employees), managers and certain agents. The pension plans are non-contributory. Equitable Life's benefits are based on a cash balance formula or years of service and final average earnings, if greater, under certain grandfathering rules in the plans. Alliance's benefits are based on years of credited service, average final base salary and primary social security benefits. The Company's funding policy is to make the minimum contribution required by the Employee Retirement Income Security Act of 1974 ("ERISA"). Effective December 31, 1999, the Holding Company legally assumed primary liability from Equitable Life for all current and future obligations of its Excess Retirement Plan, Supplemental Executive Retirement Plan and certain other employee benefit plans that provide participants with medical, life insurance, and deferred compensation benefits; Equitable Life remains secondarily liable. The amount of the liability associated with employee benefits transferred was $676.5 million, including $183.0 million of non-qualified pension benefit obligations and $394.1 million of postretirement benefits obligations at December 31, 1999. This transfer was recorded as a non-cash capital contribution to Equitable Life. Components of net periodic pension credit for the qualified and non-qualified plans follow:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Service cost....................................... $ 29.5 $ 36.7 $ 33.2 Interest cost on projected benefit obligations..... 124.2 131.6 129.2 Actual return on assets............................ (223.2) (189.8) (175.6) Net amortization and deferrals..................... (.6) 7.5 6.1 ----------------- ---------------- ----------------- Net Periodic Pension Credit........................ $ (70.1) $ (14.0) $ (7.1) ================= ================ =================
F-27 The projected benefit obligations under the qualified and non-qualified pension plans were comprised of:
DECEMBER 31, ------------------------------------ 2000 1999 ---------------- ----------------- (IN MILLIONS) Benefit obligations, beginning of year................................. $ 1,659.6 $ 1,933.4 Service cost........................................................... 29.5 36.7 Interest cost.......................................................... 124.2 131.6 Actuarial losses (gains)............................................... 6.5 (53.3) Benefits paid.......................................................... (110.0) (123.1) ---------------- ----------------- Subtotal before transfer............................................... 1,709.8 1,925.3 Transfer of Non-qualified Pension Benefit Obligation to the Holding Company............................................... - (265.7) ---------------- ----------------- Benefit Obligation, End of Year........................................ $ 1,709.8 $ 1,659.6 ================ =================
The funded status of the qualified and non-qualified pension plans was as follows:
DECEMBER 31, ------------------------------------ 2000 1999 ---------------- ----------------- (IN MILLIONS) Plan assets at fair value, beginning of year........................... $ 2,341.6 $ 2,083.1 Actual return on plan assets........................................... (107.7) 369.0 Contributions.......................................................... - .1 Benefits paid and fees................................................. (114.6) (108.5) ---------------- ----------------- Plan assets at fair value, end of year................................. 2,119.3 2,343.7 Projected benefit obligations.......................................... 1,709.8 1,925.3 ---------------- ----------------- Excess of plan assets over projected benefit obligations............... 409.5 418.4 Unrecognized prior service cost........................................ 1.2 (5.2) Unrecognized net gain (loss) from past experience different from that assumed.................................................... 61.2 (197.3) Unrecognized net asset at transition................................... (1.9) (.1) ----------------- ---------------- Subtotal before transfer............................................... 470.0 215.8 Transfer of Accrued Non-qualified Pension Benefit Obligation to the Holding Company............................................... - 184.3 ---------------- ----------------- Prepaid Pension Cost, Net.............................................. $ 470.0 $ 400.1 ================ =================
The prepaid pension cost for pension plans with assets in excess of projected benefit obligations was $483.5 million and $412.2 million and the accrued liability for pension plans with projected benefit obligations in excess of plan assets was $13.5 million and $12.2 million at December 31, 2000 and 1999, respectively. The pension plan assets include corporate and government debt securities, equity securities, equity real estate and shares of group trusts managed by Alliance. The discount rate and rate of increase in future compensation levels used in determining the actuarial present value of projected benefit obligations were 7.75% and 7.19%, respectively, at December 31, 2000 and 8.0% and 6.38%, respectively, at December 31, 1999. As of January 1, 2000 and 1999, the expected long-term rate of return on assets for the retirement plan was 10.5% and 10.0%, respectively. The Company recorded, as a reduction of shareholder's equity, an additional minimum pension liability of $.1 million, $.1 million and $28.3 million, net of Federal income taxes, at December 31, 2000, 1999 and 1998, respectively, primarily representing the excess of the accumulated benefit obligation of the non-qualified pension plan over the accrued liability. The aggregate accumulated benefit obligation and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were $333.5 million and $42.1 million, respectively, at December 31, 2000 and $325.7 million and $36.3 million, respectively, at December 31, 1999. F-28 Prior to 1987, the qualified plan funded participants' benefits through the purchase of non-participating annuity contracts from Equitable Life. Benefit payments under these contracts were approximately $28.7 million, $30.2 million and $31.8 million for 2000, 1999 and 1998, respectively. The Company provides certain medical and life insurance benefits (collectively, "postretirement benefits") for qualifying employees, managers and agents retiring from the Company (i) on or after attaining age 55 who have at least 10 years of service or (ii) on or after attaining age 65 or (iii) whose jobs have been abolished and who have attained age 50 with 20 years of service. The life insurance benefits are related to age and salary at retirement. The costs of postretirement benefits are recognized in accordance with the provisions of SFAS No. 106. The Company continues to fund postretirement benefits costs on a pay-as-you-go basis and, for 2000, 1999 and 1998, the Company made estimated postretirement benefits payments of $.9 million, $29.5 million and $28.4 million, respectively. The following table sets forth the postretirement benefits plan's status, reconciled to amounts recognized in the Company's consolidated financial statements:
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Service cost....................................... $ - $ 4.7 $ 4.6 Interest cost on accumulated postretirement benefits obligation.............................. .7 34.4 33.6 Unrecognized prior service costs................... - (7.0) - Net amortization and deferrals..................... (.2) 8.4 .5 ----------------- ---------------- ----------------- Net Periodic Postretirement Benefits Costs......... $ .5 $ 40.5 $ 38.7 ================= ================ =================
DECEMBER 31, ------------------------------------ 2000 1999 ---------------- ----------------- (IN MILLIONS) Accumulated postretirement benefits obligation, beginning of year.............................................................. $ 17.8 $ 490.4 Service cost........................................................... - 4.7 Interest cost.......................................................... .5 34.4 Contributions and benefits paid........................................ (.9) (29.5) Actuarial gains........................................................ - (29.0) ---------------- ----------------- Accumulated postretirement benefits obligation, end of year............ 17.4 471.0 Unrecognized prior service cost........................................ - 26.9 Unrecognized net gain from past experience different from that assumed and from changes in assumptions.................... - (86.0) ---------------- ----------------- Subtotal before transfer............................................... 17.4 411.9 Transfer to the Holding Company........................................ - (394.1) ---------------- ----------------- Accrued Postretirement Benefits Cost................................... $ 17.4 $ 17.8 ================ =================
Since January 1, 1994, costs to the Company for providing these medical benefits available to retirees under age 65 are the same as those offered to active employees and medical benefits will be limited to 200% of 1993 costs for all participants. The assumed health care cost trend rate used in measuring the accumulated postretirement benefits obligation was 7.0% in 2000, gradually declining to 4.25% in the year 2010, and in 1999 was 7.5%, gradually declining to 4.75% in the year 2009. The discount rate used in determining the accumulated postretirement benefits obligation was 7.75% and 8.0% at December 31, 2000 and 1999, respectively. If the health care cost trend rate assumptions were increased by 1%, the accumulated postretirement benefits obligation as of December 31, 2000 would be increased 3.5%. The effect of this change on the sum of the service cost and interest cost would be an increase of 3.5%. If the health care cost trend rate assumptions were decreased by 1% the accumulated postretirement benefits obligation as of December 31, 2000 would be decreased by 4.4%. The effect of this change on the sum of the service cost and interest cost would be a decrease of 4.4%. F-29 13) DERIVATIVES AND FAIR VALUE OF FINANCIAL INSTRUMENTS The Insurance Group primarily uses derivatives for asset/liability risk management and for hedging individual securities. Derivatives mainly are utilized to reduce the Insurance Group's exposure to interest rate fluctuations. Accounting for interest rate swap transactions is on an accrual basis. Gains and losses related to interest rate swap transactions are amortized as yield adjustments over the remaining life of the underlying hedged security. Income and expense resulting from interest rate swap activities are reflected in net investment income. There were no swaps outstanding as of December 31, 2000. The notional amount of matched interest rate swaps outstanding at December 31, 1999 was $797.3 million. Equitable Life maintains an interest rate cap program designed to offset crediting rate increases on interest-sensitive individual annuities contracts. The outstanding notional amounts at December 31, 2000 of contracts purchased and sold were $6,775.0 million and $375.0 million, respectively. The net premium paid by Equitable Life on these contracts was $46.7 million and is being amortized ratably over the contract periods ranging from 1 to 3 years. Income and expense resulting from this program are reflected as an adjustment to interest credited to policyholders' account balances. Fair Value of Financial Instruments ----------------------------------- The Company defines fair value as the quoted market prices for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are estimated using present value or other valuation techniques. The fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value estimates cannot be substantiated by comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Certain financial instruments are excluded, particularly insurance liabilities other than financial guarantees and investment contracts. Fair market value of off-balance-sheet financial instruments of the Insurance Group was not material at December 31, 2000 and 1999. Fair values for mortgage loans on real estate are estimated by discounting future contractual cash flows using interest rates at which loans with similar characteristics and credit quality would be made. Fair values for foreclosed mortgage loans and problem mortgage loans are limited to the estimated fair value of the underlying collateral if lower. Fair values of policy loans are estimated by discounting the face value of the loans from the time of the next interest rate review to the present, at a rate equal to the excess of the current estimated market rates over the current interest rate charged on the loan. The estimated fair values for the Company's association plan contracts, supplementary contracts not involving life contingencies ("SCNILC") and annuities certain, which are included in policyholders' account balances, and guaranteed interest contracts are estimated using projected cash flows discounted at rates reflecting expected current offering rates. The estimated fair values for variable deferred annuities and single premium deferred annuities, which are included in policyholders' account balances, are estimated by discounting the account value back from the time of the next crediting rate review to the present, at a rate equal to the excess of current estimated market rates offered on new policies over the current crediting rates. Fair values for long-term debt are determined using published market values, where available, or contractual cash flows discounted at market interest rates. The estimated fair values for non-recourse mortgage debt are determined by discounting contractual cash flows at a rate which takes into account the level of current market interest rates and collateral risk. The estimated fair values for recourse mortgage debt are determined by discounting contractual cash flows at a rate based upon current interest rates of other companies with credit ratings similar to the Company. The Company's carrying value of short-term borrowings approximates their estimated fair value. F-30 The carrying value and estimated fair value for financial instruments not previously disclosed in Notes 3, 7 and 8:
DECEMBER 31, -------------------------------------------------------------------- 2000 1999 --------------------------------- --------------------------------- CARRYING ESTIMATED Carrying Estimated VALUE FAIR VALUE Value Fair Value --------------- ---------------- --------------- --------------- (IN MILLIONS) Consolidated: ------------ Mortgage loans on real estate.......... $ 3,130.8 $ 3,184.4 $ 3,270.0 $ 3,239.3 Other limited partnership interests.... 811.9 811.9 647.9 647.9 Policy loans........................... 2,476.9 2,622.4 2,257.3 2,359.5 Policyholders' account balances - investment contracts................. 11,468.6 11,643.7 12,740.4 12,800.5 Long-term debt......................... 847.9 847.5 850.9 834.9 Closed Block: ------------ Mortgage loans on real estate.......... $ 1,581.8 $ 1,582.6 $ 1,704.2 $ 1,650.3 Other equity investments............... 34.4 34.4 36.3 36.3 Policy loans........................... 1,557.7 1,667.6 1,593.9 1,712.0 SCNILC liability....................... 20.2 20.1 22.8 22.5 Discontinued Operations: ----------------------- Mortgage loans on real estate.......... $ 330.9 $ 347.7 $ 454.6 $ 467.0 Fixed maturities....................... 336.5 336.5 85.5 85.5 Other equity investments............... 43.1 43.1 55.8 55.8 Guaranteed interest contracts.......... 26.4 23.4 33.2 27.5 Long-term debt......................... 101.8 101.7 101.9 101.9
F-31 14) COMMITMENTS AND CONTINGENT LIABILITIES From time to time, the Company has provided certain guarantees or commitments to affiliates, investors and others. At December 31, 2000, these arrangements include commitments by the Company, under certain conditions: to make capital contributions of up to $9.3 million to affiliated real estate joint ventures; and to provide equity financing to certain limited partnerships of $303.1 million under existing loan or loan commitment agreements. Management believes the Company will not incur any material losses as a result of these commitments. Equitable Life is the obligor under certain structured settlement agreements which it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, Equitable Life owns single premium annuities issued by previously wholly owned life insurance subsidiaries. Equitable Life has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly owned subsidiaries be unable to meet their obligations. Management believes the need for Equitable Life to satisfy those obligations is remote. The Insurance Group had $14.9 million of letters of credit outstanding at December 31, 2000. The Holding Company has entered into continuity agreements with forty-three executives of the Company in connection with AXA's minority interest acquisition. The continuity agreements generally provide cash severance payments ranging from 1.5 times to 3 times an executive's base salary plus bonus and other benefits. Such cash severance payments will generally be made if an executive's employment is terminated at any time within two years from December 27, 2000 for any reason other than the executive's death, disability, retirement or for cause, or if the executive resigns for good reason as defined in the agreements. 15) LITIGATION Life Insurance and Annuity Sales Cases A number of lawsuits are pending as individual claims and purported class actions against Equitable Life, its subsidiary insurance company and a former insurance subsidiary. These actions involve, among other things, sales of life and annuity products for varying periods from 1980 to the present, and allege, among other things, (i) sales practice misrepresentation primarily involving: the number of premium payments required; the propriety of a product as an investment vehicle; the propriety of a product as a replacement of an existing policy; and failure to disclose a product as life insurance; and (ii) the use of fraudulent and deceptive practices in connection with the marketing and sale of deferred annuity products to fund tax-qualified contributory retirement plans. Some actions are in state courts and others are in U.S. District Courts in different jurisdictions, and are in varying stages of discovery and motions for class certification. In general, the plaintiffs request an unspecified amount of damages, compensatory and punitive damages, recession of the contracts, enjoinment from the described practices, prohibition against cancellation of policies for non-payment of premium or other remedies, as well as attorneys' fees and expenses. Similar actions have been filed against other life and health insurers and have resulted in the award of substantial judgments, including material amounts of punitive damages, or in substantial settlements. Annuity Contract Case In October 2000, an action was commenced in the United States District Court for the Northern District of Illinois. The complaint alleges that the defendants (i) in connection with certain annuities issued by Equitable Life breached an agreement with the plaintiffs involving the execution of mutual fund transfers and (ii) wrongfully withheld withdrawal charges in connection with the termination of such annuities. Plaintiffs seek unspecified lost profits and injunctive relief, punitive damages and attorneys' fees. The plaintiffs also seek return of the withdrawal charges. In February 2001, the District Court granted in part and denied in part defendants' motion to dismiss the complaint, without prejudice to the plaintiffs to seek leave to file an amended complaint. F-32 Discrimination Case Equitable Life is a defendant in an action, certified as a class action in September 1997, in the United States District Court for the Northern District of Alabama, Southern Division, involving alleged discrimination on the basis of race against African-American applicants and potential applicants in hiring individuals as sales agents. Plaintiffs seek a declaratory judgment and affirmative and negative injunctive relief, including the payment of back-pay, pension and other compensation. The court referred the case to mediation, which has been successful. The parties have reached a tentative agreement for the settlement of this case as a nationwide class action. In connection with the proposed settlement, the case will be dismissed in the United States District Court for the Northern District of Alabama, Southern Division and will be refiled in the United States District Court for Georgia, Atlanta Division. The final settlement requires notice to class members and is subject to court approval. The Company's management believes that the settlement of this matter will not have a material adverse effect on the consolidated financial position or results of operations of the Company. Agent Health Benefits Case Equitable Life is a defendant in an action, certified as a class action in March 1999, in the United States District Court for the Northern District of California, alleging, among other things, that Equitable Life violated ERISA by eliminating certain alternatives pursuant to which agents of Equitable Life could qualify for health care coverage. The class consists of "[a]ll current, former and retired Equitable agents, who while associated with Equitable satisfied [certain alternatives] to qualify for health coverage or contributions thereto under applicable plans." Plaintiffs allege various causes of action under ERISA, including claims for enforcement of alleged promises contained in plan documents and for enforcement of agent bulletins, breach of a unilateral contract, breach of fiduciary duty and promissory estoppel. The parties are currently engaged in discovery. In June 2000, plaintiffs appealed to the Court of Appeals for the Ninth Circuit contesting the District Court's award of legal fees to plaintiffs' counsel in connection with a previously settled count of the complaint unrelated to the health benefit claims. In that appeal, plaintiffs have challenged the District Court's subject matter jurisdiction over the health benefit claims. Briefing has been completed, but the appeal has not yet been decided. Prime Property Fund Case In January 2000, the California Supreme Court denied Equitable Life's petition for review of an October 1999 decision by the California Superior Court of Appeal. Such decision reversed the dismissal by the Supreme Court of Orange County, California of an action which was commenced in 1995 by a real estate developer in connection with a limited partnership formed in 1991 with Equitable Life on behalf of Prime Property Fund ("PPF"). Equitable Life serves as investment manager for PPF, an open-end, commingled real estate separate account of Equitable Life for pension clients. Plaintiff alleges breach of fiduciary duty and other claims principally in connection with PPF's 1995 purchase and subsequent foreclosure of the loan which financed the partnership's property. Plaintiff seeks compensatory and punitive damages. In reversing the Superior Court's dismissal of the plaintiff's claims, the Court of Appeal held that a general partner who acquires a partnership obligation breaches its fiduciary duty by foreclosing on partnership assets. The case was remanded to the Superior Court for further proceedings. In August 2000, Equitable Life filed a motion for summary adjudication on plaintiff's claims, based on the purchase and subsequent foreclosure of the loan which financed the partnership's property, for punitive damages. In November 2000, the Superior Court granted Equitable Life's motion as to one of plaintiff's claims, dismissing the claim for punitive damages sought in conjunction with plaintiff's claim for breach of the covenant of good faith and fair dealing. The Superior Court denied Equitable Life's motion with respect to plaintiff's claim for punitive damages sought in conjunction with its claim for breach of fiduciary duty. In December 2000, the Superior Court granted plaintiff's motion for leave to file a supplemental complaint to add allegations relating to the post-foreclosure transfer of certain funds from the partnership to Equitable Life. The supplemental complaint alleges, among other things, that such conduct constitutes self-dealing and breach of fiduciary duty, and seeks compensatory and punitive damages based on such conduct. A jury trial previously scheduled for February 2001 tentatively has been rescheduled for May 2001. F-33 Alliance Reorganization Case In September 1999, an action was brought on behalf of a purported class of owners of limited partnership units of Alliance Holding challenging the then-proposed reorganization of Alliance Holding. Named defendants include Alliance Holding, Alliance, four Alliance Holding executives and the general partner of Alliance Holding and Alliance. Equitable Life is obligated to indemnify the defendants for losses and expenses arising out of the litigation. Plaintiffs allege inadequate and misleading disclosures, breaches of fiduciary duties, and the improper adoption of an amended partnership agreement by Alliance Holding and seek payment of unspecified money damages and an accounting of all benefits alleged to have been improperly obtained by the defendants. In August 2000, plaintiffs filed a first amended and supplemental class action complaint. The amended complaint alleges in connection with the reorganization that the partnership agreement of Alliance Holding was not validly amended, the reorganization of Alliance Holding was not validly effected, the information disseminated to holders of units of limited partnership interests in Alliance Holding was materially false and misleading, and the defendants breached their fiduciary duties by structuring the reorganization in a manner that was grossly unfair to plaintiffs. Plaintiffs seek declaratory, monetary and injunctive relief relating to the allegations contained in the amended complaint. In September 2000, all defendants, except one Alliance Holding executive, filed an answer to the amended complaint denying the material allegations contained therein; in lieu of joining in the answer to the amended complaint, the Alliance Holding executive filed a motion to dismiss in September 2000. In November 2000, the remaining defendants filed a motion to dismiss the amended complaint. In December 2000, plaintiffs filed a motion for partial summary judgment on the claim that the Alliance Holding partnership agreement was not validly amended. Oral argument of the motions was held in January 2001. Disposal of DLJ Subsequent to the August 30, 2000 announcement of the proposed sale of DLJ, four putative class action lawsuits have been filed in the Delaware Court of Chancery naming AXA Financial as one of the defendants and challenging the sale of DLJ because the transaction did not include the sale of DLJdirect tracking stock. The plaintiffs in these cases purport to represent a class consisting of the holders of DLJdirect tracking stock and their successors in interest, excluding the defendants and any person or entity related to or affiliated with any of the defendants. AXA Financial, DLJ and the DLJ directors are named as defendants. The complaints assert claims for breaches of fiduciary duties, and seek an unspecified amount of compensatory damages and costs and expenses, including attorneys' fees. The parties in these cases have agreed to extend the time for defendants to respond to the complaints. Subsequent to the August 30, 2000 announcement of the proposed sale of DLJ, a putative class action lawsuit was filed in New York challenging the sale of DLJ (for omitting the DLJdirect tracking stock) and also alleges Federal securities law claims relating to the initial public offering of the DLJdirect tracking stock. The complaint alleges claims for violations of the securities laws, breaches of the fiduciary duties of loyalty, good faith and due care, aiding and abetting such breaches, and breach of contract. The plaintiff purports to represent a class consisting of: all purchasers of DLJdirect tracking stock in the initial public offering and thereafter (with respect to the securities law claims); and all owners of DLJdirect tracking stock who allegedly have been or will be injured by the proposed sale of DLJ (with respect to all other claims). AXA Financial, Equitable Life, AXA, DLJ, Donaldson, Lufkin & Jenrette Securities Corporation, CSG, Diamond Acquisition Corp., and DLJ's directors are named as defendants. The complaint seeks declaratory and injunctive relief, an unspecified amount of damages, and costs and expenses, including attorney's fees. Defendants have until February 28, 2001 to respond to plaintiffs' complaint. AXA's Purchase of Holding Company Minority Interest Subsequent to the August 30, 2000 announcement of AXA's proposal to purchase the outstanding shares of Holding Company Common Stock that it did not already own, fourteen putative class action lawsuits were commenced in the Delaware Court of Chancery. The Holding Company, AXA, and directors and/or officers of the Holding Company are named as defendants in each of these lawsuits. The various plaintiffs each purport to represent a class consisting of owners of Holding Company Common Stock and their successors in interest, excluding the defendants and any person or entity related to or affiliated with any of the defendants. They challenge the adequacy of the offer announced by AXA and allege that the defendants have engaged or will engage in unfair dealing, overreaching and/or have breached or will breach fiduciary duties owed to the minority shareholders of the Holding Company. The complaints seek declaratory and F-34 injunctive relief, an accounting, and unspecified compensatory damages, costs and expenses, including attorneys' fees. A similar lawsuit was filed in the Supreme Court of the State of New York, County of New York, after the filing of the first Delaware action. In December 2000, the parties to the Delaware suits reached a tentative agreement for settlement and executed a Memorandum of Understanding. Shortly thereafter, agreement was reached with the plaintiff in the New York suit to stay proceedings in New York and to participate in and be bound by the terms of the settlement of the Delaware suits. The settlement, which does not involve any payment by the Holding Company, is subject to a number of conditions, including confirmatory discovery, the preparation of definitive documentation and approval by the Delaware Court of Chancery after a hearing. Outcome of Litigation Although the outcome of litigation cannot be predicted with certainty, particularly in the early stages of an action, the Company's management believes that the ultimate resolution of the matters described above should not have a material adverse effect on the consolidated financial position of the Company. The Company's management cannot make an estimate of loss, if any, or predict whether or not any such litigation will have a material adverse effect on the Company's consolidated results of operations in any particular period. Other Matters In addition to the matters described above, the Company and its subsidiaries are involved in various legal actions and proceedings in connection with their businesses. Some of the actions and proceedings have been brought on behalf of various alleged classes of claimants and certain of these claimants seek damages of unspecified amounts. While the ultimate outcome of such matters cannot be predicted with certainty, in the opinion of management no such matter is likely to have a material adverse effect on the Company's consolidated financial position or results of operations. 16) LEASES The Company has entered into operating leases for office space and certain other assets, principally information technology equipment and office furniture and equipment. Future minimum payments under noncancelable leases for 2001 and the four successive years are $123.9 million, $110.8 million, $101.6 million, $108.5 million, $97.4 million and $896.5 million thereafter. Minimum future sublease rental income on these noncancelable leases for 2001 and the four successive years is $5.2 million, $4.3 million, $5.1 million, $3.3 million, $2.9 million and $22.0 million thereafter. At December 31, 2000, the minimum future rental income on non-cancelable operating leases for wholly owned investments in real estate for 2001 and the four successive years is $95.2 million, $61.4 million, $72.9 million, $66.2 million, $59.2 million and $76.6 million thereafter. 17) INSURANCE GROUP STATUTORY FINANCIAL INFORMATION Equitable Life is restricted as to the amounts it may pay as dividends to the Holding Company. Under the New York Insurance Law, the Superintendent has broad discretion to determine whether the financial condition of a stock life insurance company would support the payment of dividends to its shareholders. For 2000, 1999 and 1998, statutory net income (loss) totaled $1,068.6 million, $547.0 million and $384.4 million, respectively. Statutory surplus, capital stock and Asset Valuation Reserve ("AVR") totaled $6,226.5 million and $5,570.6 million at December 31, 2000 and 1999, respectively. In 2000 and 1999, respectively, $250.0 million and $150.0 million in dividends were paid to the Holding Company by Equitable Life. At December 31, 2000, the Insurance Group, in accordance with various government and state regulations, had $26.4 million of securities deposited with such government or state agencies. In 1998, the NAIC adopted the Codification of Statutory Accounting Principles ("Codification"). Codification provides regulators and insurers with uniform statutory guidance, addressing areas where statutory accounting was previously silent and changing certain existing statutory positions. The New York Insurance Department recently adopted Regulation 172 concerning Codification, effective January 1, 2001, but did not adopt several key provisions of Codification, including deferred income taxes and the establishment of goodwill as an asset. The application of the codification rules as adopted by New York currently is estimated to have no significant effect on Equitable Life. The Insurance Group expects that statutory surplus after adoption will continue to be in excess of the regulatory risk-based capital requirements. F-35 The differences between statutory surplus and capital stock determined in accordance with Statutory Accounting Principles ("SAP") and total shareholders' equity under GAAP are primarily: (a) the inclusion in SAP of an AVR intended to stabilize surplus from fluctuations in the value of the investment portfolio; (b) future policy benefits and policyholders' account balances under SAP differ from GAAP due to differences between actuarial assumptions and reserving methodologies; (c) certain policy acquisition costs are expensed under SAP but deferred under GAAP and amortized over future periods to achieve a matching of revenues and expenses; (d) external and certain internal costs incurred to obtain or develop internal use computer software during the application development stage is capitalized under GAAP but expensed under SAP; (e) Federal income taxes are generally accrued under SAP based upon revenues and expenses in the Federal income tax return while under GAAP deferred taxes provide for timing differences between recognition of revenues and expenses for financial reporting and income tax purposes; (f) the valuation of assets under SAP and GAAP differ due to different investment valuation and depreciation methodologies, as well as the deferral of interest-related realized capital gains and losses on fixed income investments; and (g) differences in the accrual methodologies for post-employment and retirement benefit plans. Accounting practices used to prepare statutory financial statements for regulatory filings of stock life insurance companies differ in certain instances from GAAP. The following reconciles the Insurance Group's statutory change in surplus and capital stock and statutory surplus and capital stock determined in accordance with accounting practices prescribed by the New York Insurance Department with net earnings and equity on a GAAP basis.
2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Net change in statutory surplus and capital stock.................................... $ 1,321.4 $ 848.8 $ 709.2 Change in asset valuation reserves................. (665.5) (6.3) 111.8 ----------------- ---------------- ----------------- Net change in statutory surplus, capital stock and asset valuation reserves..................... 655.9 842.5 821.0 Adjustments: Future policy benefits and policyholders' account balances............................... 259.0 (85.0) (189.9) DAC.............................................. 483.6 263.6 316.5 Deferred Federal income taxes.................... (128.3) (161.4) (67.6) Valuation of investments......................... (126.2) 23.2 83.6 Valuation of investment subsidiary............... (29.2) (133.6) (419.5) Limited risk reinsurance......................... - 128.4 83.7 Dividends paid to the Holding Company........................................ 250.0 150.0 - Capital contribution............................. - (470.8) - Postretirement benefits.......................... - - 54.8 Stock option expense related to AXA's minority Interest acquisition........................... (493.9) - - Other, net....................................... 443.7 248.2 134.7 GAAP adjustments of Closed Block................. (13.4) (49.8) (27.1) GAAP adjustments of discontinued operations..................................... 54.3 51.3 (82.0) ----------------- ---------------- ----------------- Net Earnings of the Insurance Group................ $ 1,355.5 $ 806.6 $ 708.2 ================= ================ =================
F-36
DECEMBER 31, -------------------------------------------------------- 2000 1999 1998 ----------------- ---------------- ----------------- (IN MILLIONS) Statutory surplus and capital stock................ $ 5,341.9 $ 4,020.5 $ 3,171.7 Asset valuation reserves........................... 884.6 1,550.1 1,556.4 ----------------- ---------------- ----------------- Statutory surplus, capital stock and asset valuation reserves............................... 6,226.5 5,570.6 4,728.1 Adjustments: Future policy benefits and policyholders' account balances............................... (1,363.0) (1,622.0) (1,526.0) DAC.............................................. 4,429.1 4,033.0 3,563.8 Deferred Federal income taxes.................... (681.9) (283.9) (346.9) Valuation of investments......................... 99.7 (568.2) 626.9 Valuation of investment subsidiary............... (1,082.9) (1,891.7) (1,758.1) Limited risk reinsurance......................... - (39.6) (168.0) Issuance of surplus notes........................ (539.1) (539.1) (539.1) Postretirement benefits.......................... - - (262.7) Other, net....................................... 844.1 544.8 313.4 GAAP adjustments of Closed Block................. 677.1 723.6 795.4 GAAP adjustments of discontinued operations...... (164.3) (160.0) (14.2) ----------------- ---------------- ----------------- Equity of the Insurance Group...................... $ 8,445.3 $ 5,767.5 $ 5,412.6 ================= ================ =================
18) BUSINESS SEGMENT INFORMATION The Company's operations consist of Insurance and Investment Services. The Company's management evaluates the performance of each of these segments independently and allocates resources based on current and future requirements of each segment. Management evaluates the performance of each segment based upon operating results adjusted to exclude the effect of unusual or non-recurring events and transactions and certain revenue and expense categories not related to the base operations of the particular business net of minority interest. AXA's acquisition of the Company's minority interest shares has resulted in a change in the measurement of the Company's reportable operating segments. Discontinued Operations, discontinued by the Company in 1991, are included in the Life Insurance segment results reported by AXA in their French GAAP financial statements. To more closely conform the Company's management reporting to that of its parent, Discontinued Operations is now reported together with continuing operations in measuring profits or losses for the Company's Insurance segment. Prior period amounts have been restated to conform to this presentation. The Insurance segment offers a variety of traditional, variable and interest-sensitive life insurance products, disability income, annuity products, mutual fund and other investment products to individuals and small groups. It also administers traditional participating group annuity contracts with conversion features, generally for corporate qualified pension plans, and association plans which provide full service retirement programs for individuals affiliated with professional and trade associations. This segment includes Separate Accounts for individual insurance and annuity products. The Investment Services segment includes Alliance and the results of DLJ which are accounted for on an equity basis. In 1999, Alliance reorganized into Alliance Capital Management Holding L.P. ("Alliance Holding") and Alliance (the "Reorganization"). Alliance Holding's principal asset is its interest in Alliance and it functions as a holding entity through which holders of its publicly traded units own an indirect interest in the operating partnership. The Company exchanged substantially all of its Alliance Holding units for units in Alliance ("Alliance Units"). As a result of the reorganization, the Company was the beneficial owner of approximately 2% of Alliance Holding and 37% of Alliance. Alliance provides diversified investment fund management services to a variety of institutional clients, including pension funds, endowments, and foreign financial institutions, as well as to individual investors, principally through a broad line of mutual funds. This segment includes institutional Separate Accounts which provide various investment options for large group pension clients, primarily deferred benefit contribution plans, through pooled or single group accounts. F-37 Intersegment investment advisory and other fees of approximately $153.2 million, $75.6 million and $61.8 million for 2000, 1999 and 1998, respectively, are included in total revenues of the Investment Services segment. The following tables reconcile segment revenues and adjusted earnings to consolidated revenues and earnings from continuing operations before Federal income taxes as reported on the consolidated statements of earnings and the segments' assets to total assets on the consolidated balance sheets, respectively.
2000 1999 1998 -------------------- ------------------- ---------------------- (IN MILLIONS) Segment revenues: Insurance............................... $ 5,662.4 $ 5,488.8 5,330.2 Investment Services..................... 2,667.7 2,052.7 1,438.4 Consolidation/elimination............... (113.1) (23.8) (5.7) -------------------- ------------------- ---------------------- Total segment revenues.................. 8,217.0 7,517.7 6,762.9 Loss on CSG shares...................... (43.2) - - Investment (losses) gains, net of other charges.............................. (798.4) (112.6) 136.4 Gain on sale of equity investee......... 1,962.0 - - Closed Block............................ (1,044.9) (1,095.6) (1,144.8) Discontinued Operations................. (96.3) (85.5) (191.8) -------------------- ------------------- ---------------------- Total Consolidated Revenues............. $ 8,196.2 $ 6,224.0 $ 5,562.7 ==================== =================== ====================== Pre-tax adjusted earnings: Insurance............................... $ 1,198.9 $ 950.8 $ 656.9 Investment Services..................... 480.6 430.2 287.7 -------------------- ------------------- ---------------------- Total pre-tax adjusted earnings......... 1,679.5 1,381.0 944.6 Loss on CSG shares...................... (43.2) - - Investment (losses) gains, net of related DAC and other charges........ (731.9) (109.7) 105.3 Gain on sale of equity investee......... 1,962.0 - - Amortization of acquisition related goodwill and intangible assets....... (34.6) (3.2) (3.4) Minority purchase transaction related expenses..................... (493.9) - - Discontinued Operations................. (90.2) (43.3) (4.2) Pre-tax subsidiary minority interest.... 337.8 216.8 141.5 Non-recurring DAC adjustments........... - (131.7) - -------------------- ------------------- ---------------------- Earnings from Continuing Operations before Federal Income Taxes and Minority Interest......... $ 2,585.5 $ 1,309.9 $ 1,183.8 ==================== =================== ====================== Assets: Insurance............................... $ 88,576.4 $ 86,842.7 $ 75,626.0 Investment Services..................... 16,807.2 12,961.7 12,379.2 Consolidation/elimination............... (57.1) (8.9) (64.4) -------------------- ------------------- ---------------------- Total Assets............................ $ 105,326.5 $ 99,795.5 $ 87,940.8 ==================== =================== ======================
F-38 19) QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The quarterly results of operations for 2000 and 1999 are summarized below:
THREE MONTHS ENDED ------------------------------------------------------------------------------ MARCH 31 JUNE 30 SEPTEMBER 30 DECEMBER 31 ----------------- ----------------- ------------------ ------------------ (IN MILLIONS) 2000 Total Revenues................ $ 1,622.5 $ 1,684.7 $ 1,728.3 $ 3,160.7 ================= ================= ================== ================== Earnings from Continuing Operations.................. $ 226.6 $ 256.9 $ 70.5 $ 742.9 ================= ================= ================== ================== Net Earnings.................. $ 221.7 $ 255.4 $ 70.5 $ 807.9 ================= ================= ================== ================== 1999 Total Revenues................ $ 1,489.0 $ 1,615.6 $ 1,512.1 $ 1,607.3 ================= ================= ================== ================== Earnings from Continuing Operations.................. $ 187.3 $ 222.6 $ 186.5 $ 182.1 ================= ================= ================== ================== Net Earnings.................. $ 182.0 $ 221.3 $ 183.1 $ 220.2 ================= ================= ================== ==================
F-39 20) ACCOUNTING FOR STOCK-BASED COMPENSATION The Holding Company sponsors a stock incentive plan for employees of Equitable Life. Alliance sponsors its own stock option plans for certain employees. The Company has elected to continue to account for stock-based compensation using the intrinsic value method prescribed in APB No. 25. Had compensation expense for the Holding Company and Alliance Stock Option Incentive Plan options been determined based on SFAS No. 123's fair value based method, the Company's pro forma net earnings for 2000, 1999 and 1998 would have been $1,627.3 million, $757.1 million and $678.4 million, respectively. In conjunction with approval of the agreement for AXA's acquisition of the minority interest in the Holding Company's Common Stock, generally all outstanding options awarded under the 1997 and 1991 Stock Incentive Plans were amended to become immediately and fully exercisable pursuant to their terms upon expiration of the initial tender offer. In addition, the agreement provided that at the effective time of the merger, the terms of all outstanding options granted under those Plans would be further amended and converted into options of equivalent intrinsic value to acquire a number of AXA ordinary shares in the form of American Depository Shares (ADSs). Also pursuant to the agreement, holders of non-qualified options were provided with an alternative to elect cancellation of those options at the effective time of the merger in exchange for a cash payment from the Holding Company. For the year ended December 31, 2000, the Company recognized compensation expense of $493.9 million, representing the cost of these Plan amendments and modifications offset by an addition to capital in excess of par value. The fair values of options granted after December 31, 1994, used as a basis for the pro forma disclosures above, were estimated as of the grant dates using the Black-Scholes option pricing model. The option pricing assumptions for 2000, 1999 and 1998 follow:
HOLDING COMPANY ALLIANCE ----------------------------------------- ------------------------------- 2000 1999 1998 2000 1999 1998 ------------- ------------- ------------ --------------------- --------- Dividend yield.... 0.32% 0.31% 0.32% 7.20% 8.70% 6.50% Expected volatility...... 28% 28% 28% 30% 29% 29% Risk-free interest rate............ 6.24% 5.46% 5.48% 5.90% 5.70% 4.40% Expected life in years........ 5 5 5 7.4 7 7.2 Weighted average fair value per option at grant-date...... $11.08 $10.78 $11.32 $8.32 $3.88 $3.86
F-40 A summary of the Holding Company and Alliance's option plans follows:
HOLDING COMPANY ALLIANCE ----------------------------- ----------------------------------- Weighted Weighted Average Average Exercise Exercise Price of Price of Shares Options Units Options (In Millions) Outstanding (In Millions) Outstanding ------------- ----------- ------------- ----------- Balance as of January 1, 1998........ 15.8 $14.53 10.6 $11.41 Granted................ 8.6 $33.13 2.8 $26.28 Exercised.............. (2.2) $10.59 (.9) $ 8.91 Forfeited.............. (.8) $23.51 (.2) $13.14 --------------- ---------------- Balance as of December 31, 1998...... 21.4 $22.00 12.3 $14.92 Granted................ 4.3 $31.70 2.0 $30.18 Exercised.............. (2.4) $13.26 (1.5) $ 9.51 Forfeited.............. (.6) $24.29 (.3) $17.79 --------------- ---------------- Balance as of December 31, 1999...... 22.7 $24.60 12.5 $17.95 Granted................ 6.5 $31.06 4.7 $50.93 Exercised.............. (4.5) $18.57 (1.7) $10.90 Forfeited.............. (1.2) $26.15 (.1) $26.62 --------------- ---------------- Balance as of December 31, 2000...... 23.5 $27.20 15.4 $17.95 =============== ================
Information about options outstanding and exercisable at December 31, 2000 follows:
OPTIONS OUTSTANDING OPTIONS EXERCISABLE --------------------------------------------------- ------------------------------------- Weighted Average Weighted Weighted Range of Number Remaining Average Number Average Exercise Outstanding Contractual Exercise Exercisable Exercise Prices (In Millions) Life (Years) Price (In Millions) Price --------------------------------------- ---------------- --------------- ------------------ ---------------- Holding Company ---------------------- $ 9.06 -$13.88 3.4 3.3 $10.58 22.7 $27.14 $14.25 -$22.63 3.9 6.7 $20.81 - - $25.32 -$34.59 13.0 8.4 $29.76 - - $40.97 -$41.28 3.2 7.6 $41.28 - - $52.25 -$52.25 .1 9.7 $52.25 - - ----------------- ------------------ $ 9.06 -$41.28 23.5 7.3 $27.20 22.7 $27.14 ================= ================ =============== ================== ================ Alliance ---------------------- $ 6.63 -$11.13 3.6 3.6 $ 9.60 3.6 $ 9.60 $12.44 -$26.31 5.2 7.3 $21.29 2.6 $19.85 $27.31 -$30.94 1.9 8.9 $30.24 .4 $30.24 $48.50 -$53.75 2.5 9.5 $48.50 - - $48.50 -$53.75 2.2 10.0 $53.75 - - ----------------- ------------------ $ 6.63 -$53.75 15.4 7.4 $28.73 6.6 $14.87 ================= ================ =============== ================== ================
F-41 21) RELATED PARTY TRANSACTIONS Beginning January 1, 2000, the Company reimbursed the Holding Company for expenses relating to the Excess Retirement Plan, Supplemental Executive Retirement Plan and certain other employee benefit plans that provide participants with medical, life insurance, and deferred compensation benefits. Such reimbursement was based on the cost to the Holding Company of the benefits provided which totaled $16.0 million for 2000. Also in 2000, the Company paid $678.9 million of commissions and fees to AXA Distribution and its subsidiaries for sales of insurance products in 2000. The Company charged AXA Distribution's subsidiaries $395.0 million for their applicable share of operating expenses in 2000 pursuant to the Agreements for Services. 22) PRO FORMA FINANCIAL INFORMATION (UNAUDITED) Assuming the Bernstein acquisition had occurred on January 1, 1999, revenues for the Company would have been $8.79 billion and $7.05 billion for 2000 and 1999, respectively, on a pro forma basis. The impact of the acquisition on net earnings on a pro-forma basis would not have been material. This pro forma financial information does not necessarily reflect the results of operations that would have resulted had the Bernstein acquisition actually occurred on January 1, 1999, nor is the pro forma financial information necessarily indicative of the results of operations that may be achieved for any future period. F-42 ` PART C OTHER INFORMATION ----------------- Item 24. Financial Statements and Exhibits --------------------------------- (a) Financial Statements included in Part B. 1. Separate Account A: -Report of Independent Accountants; PricewaterhouseCoopers LLP -Statements of Assets and Liabilities for the Year Ended December 31, 2000; -Statements of Operations for the Year Ended December 31, 2000; -Statements of Changes in Net Assets for the Years Ended December 31, 2000 and 1999; 2. The Equitable Life Assurance Society of the United States: ---------------------------------------------------------- -Report of Independent Accountants; PricewaterhouseCoopers LLP -Consolidated Balance Sheets as of December 31, 2000 and 1999; -Consolidated Statements of Earnings for Years Ended December 31, 2000, 1999 and 1998; -Consolidated Statements of Equity for Years Ended December 31, 2000, 1999 and 1998; -Consolidated Statements of Cash Flows for Years Ended December 31, 2000, 1999 and 1998; and -Notes to Consolidated Financial Statements. (b) Exhibits. The following exhibits are filed herewith: 1. (a) Resolutions of the Board of Directors of The Equitable Life Assurance Society of the United States ("Equitable") authorizing the establishment of the Registrant, incorporated herein by reference to Exhibit No. 1(a) to Registration Statement File No. 2-30070, originally filed on October 27, 1987, refiled electronically on July 10, 1998. (b) Resolutions of the Board of Directors of Equitable dated October 16, 1986 authorizing the reorganization of Separate Accounts A, C, D, E, J and K into one continuing separate account, incorporated herein by reference to Exhibit No. 1(b) to Registration Statement File No. 2-30070 on Form N-4, originally filed on April 24, 1995, refiled electronically on July 10, 1998. 2. Not applicable. 3. (a) Sales Agreement, dated as of July 22, 1992, among Equitable, Separate Account A and Equitable Variable Life Insurance Company, as principal underwriter for the Hudson River Trust, incorporated herein by reference to Exhibit 3(b) to Registration Statement No. 2-30070, originally filed on April 26, 1993, refiled electronically on July 10, 1998. C-1 (b) Distribution and Servicing Agreement among Equico Securities, Inc. (now AXA Advisors, LLC), Equitable and Equitable Variable Life Insurance Company, dated as of May 1, 1994, incorporated herein by reference to Exhibit 3(c) to Registration Statement No. 2-30070 originally filed February 14, 1995, refiled electronically on July 10, 1998. (c) Distribution Agreement dated as of January 1, 1995 by and between The Hudson River Trust and Equico Securities, Inc. (now AXA Advisors, LLC), incorporated herein by reference to Exhibit 3(d) to Registration Statement No. 2-30070 originally filed on April 24, 1995, refiled electronically on July 10, 1998. (d) Distribution Agreement for services by The Equitable Life Assurance Society of the United States to AXA Network, LLC and its subsidiaries dated January 1, 2000. (e) Distribution Agreement for services by AXA Network LLC and its subsidiaries to The Equitable Life Assurance Society of the United States dated January 1, 2000. 4. (a) Form of Group Annuity Contract No. 1050-94IC, incorporated herein by reference to Exhibit No. 4(f) to Registration Statement No. 2-30070 originally filed on April 24, 1995, refiled electronically on July 10, 1998. (b) Forms of Group Annuity Certificate Nos. 94ICA and 94ICB, incorporated herein by reference to Exhibit No. 4(g) to Registration Statement No. 2-30070 originally filed on April 24, 1995, refiled electronically on July 10, 1998. (c) Forms of Endorsement nos. 94ENIRAI, 94 ENNQI and 94ENMVAI to contract no. 1050-94IC, incorporated herein by reference to Exhibit No. 4(h) to Registration Statement No. 2-30070 originally filed on April 24, 1995, refiled electronically on July 10, 1998. C-2 (d) Form of Supplementary Contract No. SC96MDSB, incorporated herein by reference to Exhibit No. 4(j) to Registration Statement No. 2-30070 filed on April 26, 1996. (e) Form of Endorsement for Standard Roth IRA Certificates, incorporated herein by reference to Exhibit 4(n) to Registration Statement on Form N-4. File No. 2-30070 filed June 9, 1998. (f) Form of Endorsement (No. 98ENIRAI) Applicable to IRA Certificates, incorporated herein by reference to Exhibit No. 4(q) to Registration Statement File No. 2-30070, filed May 4, 1999. (g) Form of EQUI-VEST Express Data Pages, Form No. 94ICA/(EQV EXP.)(8/99), previously filed with this Registration Statement File No. 333-81393 on June 23, 1999. (h) Form of Beneficiary Continuation Option endorsement (Form No. 2000 ENIRA-BCO) to be used with certain certificates previously filed with this Registration Statement File No. 333-81393 on April 26, 2000. (i) Form of Endorsement (No. 2001ENJONQ) applicable to Non- Qualified Certificates. 5. (a) Forms of EQUI-VEST Tax Deferred Variable Individual Annuity Application Form #180-1009 previously filed with this Registration Statement File No. 333-81393 on June 23, 1999. 6. (a) Copy of the Restated Charter of Equitable, as amended January 1, 1997, incorporated herein by reference to Exhibit No. 6(a) to the Registration Statement on Form N-4 (File No. 2-30070), filed April 28, 1997. (b) By-Laws of Equitable, as amended November 21, 1996, incorporated herein by reference to Exhibit No. 6(b) to the Registration Statement on Form N-4 (File No. 2-30070) filed April 28, 1997. 7. Form of Reinsurance Agreement between Reinsurance Company and The Equitable Life Assurance Society of the United States. 8. Form of Participation Agreement among EQ Advisors Trust, Equitable, Equitable Distributors, Inc. and EQ Financial Consultants, Inc. (now AXA Advisors, LLC), incorporated by reference to the EQ Advisors Trust Registration Statement on Form N-1A (File Nos. 33-17217 and 811-07953) filed on August 28, 1997. C-3 9. Opinion and Consent of Counsel previously filed with this Registration Statement, File No. 333-81393, on April 26, 2000. 10. (a) Powers of Attorney previously filed with this Registration Statement, File No. 333-81393, on April 26, 2000. (b) Consent of PricewaterhouseCoopers LLP. (c) Power of Attorney for Claus-Michael Dill. 11. Not applicable. 12. Not applicable. 13. (a) Schedules for computation of Money Market Fund Yield quotations, incorporated herein by reference to Exhibit No. 13(a) to Registration Statement No. 2-30070 originally filed on April 28, 1994, refiled electronically on July 10, 1998. (b) Formulae for Determining "30-Day Yields" for EQUI-VEST Series Contracts Invested In One Investment Fund (Intermediate Government Securities, Quality Bond or High Yield) of The Hudson River Trust, incorporated herein by reference to Exhibit 13(b) to the Registration Statement No. 2-30070, originally filed on April 24, 1995, refiled electronically on July 10, 1998. (c) Separate Account A Performance Values Worksheets One-Year Standardized Performance, incorporated herein by reference to Exhibit 13(c) to the Registration Statement No. 2-30070 originally filed on April 28, 1994, refiled electronically on July 10, 1998. C-4 Item 25: Directors and Officers of Equitable. Set forth below is information regarding the directors and principal officers of Equitable. Equitable's address is 1290 Avenue of Americas, New York, New York 10104. The business address of the persons whose names are preceded by an asterisk is that of Equitable. POSITIONS AND NAME AND PRINCIPAL OFFICES WITH BUSINESS ADDRESS EQUITABLE ---------------- --------- DIRECTORS Francoise Colloc'h Director AXA 25, Avenue Matignon 75008 Paris, France Claus-Michael Dill Director Gereonsdriesch 9-11 50670 Cologne Henri de Castries Director AXA 25, Avenue Matignon 75008 Paris, France Joseph L. Dionne Director 198 North Wilton Rd. New Canaan, CT 06840 Denis Duverne Director AXA 25, Avenue Matignon 75008 Paris, France Jean-Rene Fourtou Director 46 quai de la Rapee 75601 Paris Cedex 12 France Norman C. Francis Director Xavier University of Louisiana 7325 Palmetto Street New Orleans, LA 70125 C-5 POSITIONS AND NAME AND PRINCIPAL OFFICES WITH BUSINESS ADDRESS EQUITABLE ---------------- --------- Donald J. Greene Director LeBouef, Lamb, Greene & MacRae 125 West 55th Street New York, NY 10019-4513 John T. Hartley Director Harris Corporation 1025 NASA Boulevard Melbourne, FL 32919 John H.F. Haskell, Jr. Director SBC Warburg Dillon Read LLC 299 Park Ave 40th Floor New York, NY 10171 Mary R. (Nina) Henderson Director 425 East 86th Street Apt 12-C New York, NY 10028 W. Edwin Jarmain Director 77 King Street West Toronto, M5K 1K2 Canada George T. Lowy Director Cravath, Swaine & Moore 825 Eighth Avenue New York, NY 10019 C-6 POSITIONS AND NAME AND PRINCIPAL OFFICES WITH BUSINESS ADDRESS EQUITABLE ---------------- --------- Didier Pineau-Valencienne Director Credit Suisse First Boston 64, rue de Miromesmil 75008 Paris, France George J. Sella, Jr. Director P.O. Box 397 Newton, NJ 07860 Peter J. Tobin Director St. John's University 8000 Utopia Parkway Jamaica, NY 11439 Dave H. Williams Director Alliance Capital Management Corporation 1345 Avenue of the Americas New York, NY 10105 OFFICER-DIRECTORS ----------------- *Michael Hegarty President, Chief Operating Officer and Director *Edward D. Miller Chairman of the Board, Chief Executive Officer and Director *Stanley B. Tulin Vice Chairman of the Board, Chief Financial Officer and Director OTHER OFFICERS -------------- *Leon Billis Executive Vice President, AXA Group Deputy and Chief Information Officer *Derry Bishop Executive Vice President and Managing Director, Retail Distribution *Harvey Blitz Senior Vice President *Kevin R. Byrne Senior Vice President and Treasurer *John A. Caroselli Executive Vice President *Selig Ehrlich Senior Vice President and Chief Actuary *Stuart L. Faust Senior Vice President and Deputy General Counsel *Alvin H. Fenichel Senior Vice President and Controller C-7 POSITIONS AND NAME AND PRINCIPAL OFFICES WITH BUSINESS ADDRESS EQUITABLE ---------------- --------- *Paul J. Flora Senior Vice President and Auditor *Robert E. Garber Executive Vice President and Chief Legal Officer *James D. Goodwin Vice President *Edward J. Hayes Senior Vice President *Mark A. Hug Senior Vice President *Craig Junkens Senior Vice President *Donald R. Kaplan Vice President and Chief Compliance Officer and Associate General Counsel *William Levine Executive Vice President and Chief Information Officer *Michael S. Martin Executive Vice President, Managing Director, Retail Distribution *Richard J. Matteis Executive Vice President *Peter D. Noris Executive Vice President and Chief Investment Officer *Brian S. O'Neil Executive Vice President *Anthony C. Pasquale Senior Vice President *Pauline Sherman Senior Vice President, Secretary and Associate General Counsel *Richard V. Silver Senior Vice President and General Counsel *Jose Suquet Senior Executive Vice President and Chief Distribution Officer *Naomi J. Weinstein Vice President *Gregory Wilcox Executive Vice President *R. Lee Wilson Executive Vice President *Maureen K. Wolfson Vice President C-8 Item 26. Persons Controlled by or Under Common Control with the Insurance Company or Registrant. Separate Account A of The Equitable Life Assurance Society of the United States (the "Separate Account") is a separate account of Equitable. Equitable, a New York stock life insurance company, is a wholly owned subsidiary of AXA Financial, Inc. (the "Holding Company"), a publicly traded company. AXA owns 100% of the Holding Company's outstanding common stock. AXA is able to exercise significant influence over the operations and capital structure of the Holding Company and its subsidiaries, including Equitable. AXA, a French company, is the holding company for an international group of insurance and related financial services companies. C-9 ORGANIZATION CHART OF EQUITABLE'S AFFILIATES
SOVEREIGN % OF VOTING PRINCIPAL POWER UNDER NAME OF SECURITIES BUSINESS WHICH ORGANIZED NAME OF COMPANY CONTROLLING ENTITY OWNED ----------------------------------------------------------------------------------------------------------------------------------- DE AXA Financial, Inc. The Axa Group ND Frontier Trust Company, FSB AXA Financial, Inc. 100.00% DE AXA Client Solutions, LLC AXA Financial, Inc. 100.00% DE AXA Distribution Holding Corporation AXA Client Solutions, LLC 100.00% DE AXA Advisors, LLC AXA Distribution Holding Corporation 100.00% Operating DE AXA Network, LLC AXA Distribution Holding Corporation 100.00% Operating AL AXA Network of Alabama, LLC AXA Network, LLC 100.00% Operating DE AXA Network of Connecticut, Maine AXA Network, LLC 100.00% and New York, LLC Operating MA AXA Network Insurance Agency of AXA Network, LLC 100.00% Massachusetts, LLC Operating NV AXA Network of Nevada, Inc. AXA Network, LLC - Operating P.R. AXA Network of Puerto Rico, Inc. AXA Network, LLC - Operating TX AXA Network Insurance Agency of of Texas, Inc. AXA Network, LLC - Insurance NY The Equitable Life Assurance Society AXAeClient Solutions, LLC 100.00% of the United States Insurance CO The Equitable of Colorado, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment DE Equitable Deal Flow Fund, L.P. The Equitable Life Assurance Society - of the United States Investment DE Equitable Managed Assets, L.P. Equitable Deal Flow Fund, L.P. - Investment ** Real Estate Partnership Equities (various) The Equitable Life Assurance Society - of the United States HCO NY Equitable Holdings, LLC The Equitable Life Assurance Society 100.00% of the United States Real Estate NY EREIM LP Associates (L.P.) The Equitable Life Assurance Society - of the United States Investment NY EML Associates, L.P. EREIM LP Associates (L.P.) - ACMC, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment PA Wil-Gro, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment DE STCS, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment MA Fox Run, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment MD FTM Corp. The Equitable Life Assurance Society 100.00% of the United States Investment DE EVSA, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment CA Equitable BJVS, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment MA Equitable Rowes Wharf, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment TX GP/EQ Southwest, Inc. The Equitable Life Assurance Society 100.00% of the United States Operating DE Equitable Structured Settlement Corp. The Equitable Life Assurance Society 100.00% of the United States Investment DE ELAS Realty, Inc. The Equitable Life Assurance Society 100.00% of the United States Real Estate DE Prime Property Funding II, Inc. The Equitable Life Assurance Society 100.00% of the United States Investment FL Sarasota Prime Hotels, LLC The Equitable Life Assurance Society 100.00% of the United States Investment MI ECLL, Inc. The Equitable Life Assurance Society 100.00% of the United States
LISTING A -- EQUITABLE HOLDINGS, LLC
SOVEREIGN % OF VOTING PRINCIPAL POWER UNDER NAME OF SECURITIES BUSINESS WHICH ORGANIZED NAME OF COMPANY CONTROLLING ENTITY OWNED ----------------------------------------------------------------------------------------------------------------------------------- AXA Financial, Inc. The AXA Group - AXA Client Solutions, LLC AXA Financial, Inc. - The Equitable Life Assurance Society AXA Client Solutions, LLC - of the United States Equitable Holdings, LLC The Equitable Life Assurance Society - of the United States Operating DE ELAS Securities Acquisition Corporation Equitable Holdings, LLC 100.00% Operating MA 100 Federal Street Realty Corporation Equitable Holdings, LLC 100.00% Operating MA 100 Federal Street Funding Corporation Equitable Holdings, LLC 100.00% Operating VT Equitable Casualty Insurance Company * Equitable Holdings, LLC 100.00% Operating DE EREIM LP Corporation Equitable Holdings, LLC 100.00% Operating NY EREIM LP Associates (L.P.) EREIM LP Corporation - Investment NY EML Associates, L.P. EREIM LP Associates (L.P.) - Operating DE ECMC, LLC Equitable Holdings, LLC 100.00% Investment DE Equitable Capital Private Income & EMC, LLC - Equity Partnership II, L.P. Operating DE Alliance Capital Management Corporation Equitable Holdings, LLC 100.00% Operating DE Equitable JV Holding Corp. Equitable Holdings, LLC 100.00% Operating DE EQ Services, Inc. Equitable Holdings, LLC 100.00% Operating DE EREIM Managers Corporation Equitable Holdings, LLC 100.00% Investment DE ML/EQ Real Estate Portfolio, L.P. EREIM Managers Corporation - Investment NY EML Associates, L.P. ML/EQ Real Estate Portfolio - Investment DE Equitable JVS, Inc. Equitable Holdings, LLC 100.00% Investment NY Astor Times Square Corp. Equitable JVS, Inc. 100.00% Investment NY Astor/Broadway Acquisition Corp. Equitable JVS, Inc. 100.00% Investment TX PC Landmark, Inc. Equitable JVS, Inc. 100.00% Investment DE EJSVS, Inc. Equitable JVS, Inc. 100.00% Investment MD Equitable JVS II, Inc. Equitable Holdings, LLC 100.00% Investment GA Six-Pac G.P., Inc. Equitable Holdings, LLC 100.00% Operating DE Equitable Distributors, Inc. Equitable Holdings, LLC 100.00% Operating DE Equitable Distributors, LLC Equitable Holdings, LLC 100.00% Operating AL Equitable Distributors Insurance Equitable Distributors, LLC 100.00% Agency of Alabama, LLC Operating DE Equitable Distriburors Insurance Agency of Equitable Distributors, LLC 100.00% Connecticut, Maine and New York, LLC Operating DE J.M.R. Realty Services, Inc. Equitable Holdings, LLC 100.00%
LISTING B -- ALLIANCE CAPITAL MANAGEMENT CORP.
SOVEREIGN % OF VOTING PRINCIPAL POWER UNDER NAME OF SECURITIES BUSINESS WHICH ORGANIZED NAME OF COMPANY CONTROLLING ENTITY OWNED ----------------------------------------------------------------------------------------------------------------------------------- AXA Financial, Inc. The AXA Group - AXA Client Solutions, LLC AXA Financial, Inc. - The Equitable Life Assurance Society AXA Client Solutions, LLC - of the United States Equitable Holdings, LLC The Equitable Life Assurance Society - of the United States Alliance Capital Management Corporation Equitable Holdings, LLC - Operating DE Alliance Capital Management Holding L.P. Alliance Capital Management - Operating DE Alliance Capital Management L.P. Alliance Capital Management - Operating DE Albion Alliance LLC Alliance Capital Management, L.P. 37.60% HCO DE Cursitor Alliance LLC Alliance Capital Management, L.P. 93.00% Operating U.K. Cursitor Alliance Holdings Ltd. Cursitor Alliance LLC 100.00% Operating MA Draycott Partners. Ltd. Cursitor Alliance Holdings, Ltd. 100.00% Operating U.K. Cursitor Alliance Services Ltd. Cursitor Alliance Holdings, Ltd. 100.00% Operating Lux. Cursitor Management Co. S.A. Cursitor Alliance Holdings, Ltd. 100.00% Operating U.K. Alliance Asset Allocation Ltd. Cursitor Alliance Holdings, Ltd. 100.00% Operating NY Cursitor Eaton Asset Management Co. Alliance Asset Allocation, Ltd. 50.00% Operating France Alliance Cecogest Alliance Asset Allocation, Ltd. 75.00% HCO DE Alliance Capital Management LLC Alliance Capital Management, L.P. 100.00% HCO DE Sanford C. Bernstein & Co., LLC Alliance Capital Management, LLC 100.00% HCO DE Alliance Capital Management Corp. of Delaware Alliance Capital Management, L.P. 100.00% Operating U.K. Sanford C. Bernstein Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating Aust. Sanford C. Bernstein Proprietary Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Fund Services, Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Fund Distributors, Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Capital Oceanic Corp. Alliance Capital Management Corp. 100.00% of Delaware Operating Brazil Alliance Capital Management (Brazil) Ltd. Alliance Capital Management Corp. 99.00% of Delaware Operating Aust. Alliance Capital Management Australia Limited Alliance Capital Management Corp. 100.00% of Delaware Operating DE Meiji - Alliance Capital Corp. Alliance Capital Management Corp. 50.00% of Delaware Operating Lux. Alliance Capital (Luxembourg) S.A. Alliance Capital Management Corp. 99.98% of Delaware Operating DE Alliance Barra Research Institute, Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Capital Management Canada, Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Capital Global Derivatives Corp. Alliance Capital Management Corp. 100.00% of Delaware Operating Lux. ACM Global Investor Services S.A. Alliance Capital Management Corp. 99.00% of Delaware Operating Spain ACM Fund Services (Espana) S.L. ACM Global Investor Services S.A. 100.00% Operating Singapore Alliance Capital Management (Singapore) Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating Cayman Isl. ACM CIIC Investment Management Ltd. Alliance Capital Management Corp. 54.00% of Delaware Operating DE ACM Software Services Ltd. Alliance Capital Management Corp. 100.00% of Delaware
LISTING B -- ALLIANCE CAPITAL MANAGEMENT CORP.
SOVEREIGN % OF VOTING PRINCIPAL POWER UNDER NAME OF SECURITIES BUSINESS WHICH ORGANIZED NAME OF COMPANY CONTROLLING ENTITY OWNED ----------------------------------------------------------------------------------------------------------------------------------- AXA Financial, Inc. The AXA Group - AXA Client Solutions, LLC AXA Financial, Inc. 100.00% The Equitable Life Assurance Society AXA Client Solutions, LLC - of the United States Equitable Holdings, LLC The Equitable Life Assurance Society - of the United States Alliance Capital Management Corporation Equitable Holdings, LLC - Alliance Capital Management L.P. Alliance Capital Management - Corporation Alliance Capital Management Corp. Alliance Capital Management L.P. - of Delaware (Cont'd) Operating Austria East Fund Managementberatung GmbH. Alliance Capital Management Corp. of 51.00% of Delaware Operating Czech Albion Alliance EFM East Fund Managementberatung GmbH 49.00% Operating Cyprus East Fund Management (Cyprus) Ltd. East Fund Managementberatung GmbH 100.00% Operating Romania EFM Consultanta Financiara Bucuresti SRL East Fund Management (Cyprus) Ltd. 100.00% Operating Mauritius Alliance Capital (Mauritius) Private Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating India Alliance Capital Asset Management Alliance Capital (Mauritius) 75.00% (India) Private Ltd. Private Ltd. Operating India ACSYS Software India Private Ltd. Alliance Capital (Mauritius) 51.00% Private Ltd. Operating India ACAM Trust Company Private Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Eastern Europe, Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating DE Alliance Capital Management (Asia) Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating Turkey Alliance Capital Management (Turkey) Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating Japan Alliance Capital Asset Management (Japan) Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating U.K. Alliance Capital Limited Alliance Capital Management Corp. 100.00% of Delaware Operating U.K. Alliance Capital Services Ltd. Alliance Capital Limited 100.00% Operating U.K. Dimensional Trust Management Ltd. Alliance Capital Services Ltd. 100.00% Operating DE Alliance Corporate Finance Group Inc. Alliance Capital Management Corp. 100.00% of Delaware Operating Brazil BCN Alliance Capital Management SA Alliance Capital Management Corp. 50.00% of Delaware Operating Poland Przymierze Trust Fund Co. Alliance Capital Management Corp. 49.00% of Delaware Operating Russia Alliance SBS-AGRO Capital Management Co. Alliance Capital Management Corp. 49.00% of Delaware Operating Poland Pekao/Alliance PTE S.A. Alliance Capital Management Corp. 49.00% of Delaware Operating U.K. Whittingdale Holdings Ltd. Alliance Capital Management Corp. 100.00% of Delaware Operating U.K. Alliance Capital Whittingdale Ltd. Whittingdale Holdings Ltd. 100.00% Operating U.K. ACM Investments Ltd. Whittingdale Holdings Ltd. 100.00% Operating U.K. Whittingdale Nominees Ltd. Whittingdale Holdings Ltd. 100.00% Operating So Korea Hanwha Investment Trust Mgmt. Co., Ltd Alliance Capital Management Corp. 20.00% of Delaware Operating H.K. New Alliance Asset Management (Asia) Ltd Alliance Capital Management Corp. 50.00% of Delaware Operating Lux. ACM New-Alliance (Luxembourg) S.A. Alliance Capital Management Corp. 100.00% of Delaware Operating So Africa Alliance Capital Mgmt. (Proprietary) Ltd. Alliance Capital Management Corp. 80.00% of Delaware Operating Zimbabwe Alliance-MBCA Capital (Private) Ltd. Alliance Capital Mgmt. 50.00% (Proprietary) Ltd. Operating Namibia Alliance Odyssey Capital Mgmt. (Nambia) Alliance Capital Mgmt. 100.00% (Proprietary) Ltd. (Proprietary) Ltd.
AXA GROUP CHART
SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ FINANCIAL SERVICES & REAL ESTATE AUSTRALIA NATIONAL MUTUAL FUND MANAGEMENT AXA ASIA PACIFIC HOLDINGS LIMITED 100.00 FINANCIAL SERVICES & REAL ESTATE BELGIUM AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS 100.00 BRUXELLES FINANCIAL SERVICES & REAL ESTATE BELGIUM AXA BANK BELGIUM AXA HOLDINGS BELGIUM 100.00 FINANCIAL SERVICES & REAL ESTATE BELGIUM IPPA VASTGOED AXA HOLDINGS BELGIUM 100.00 FINANCIAL SERVICES & REAL ESTATE BELGIUM ROYALE BELGE INVESTISSEMENT AXA ROYALE BELGE 33.03 FINANCIAL SERVICES & REAL ESTATE BELGIUM ROYALE BELGE INVESTISSEMENT AXA ROYALE BELGE 66.97 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA ROYALE BELGE 1.89 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA ROYALE BELGE 2.32 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA 45.04 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA CORPORATE SOLUTIONS 0.81 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA ASSURANCES IARD 15.11 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA COLONIA KONZERN AG 5.93 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS DIRECT ASSURANCES IARD 0.20 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA LEVEN NV 2.10 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS NATIONAL MUTUAL FUND MANAGEMENT 4.07 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA UK PLC 18.40 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA COURTAGE IARD 1.62 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA GRANDE ARMEE AXA INVESTMENT MANAGERS 99.99 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA GESTION FCP AXA INVESTMENT MANAGERS PARIS 99.99 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS PRIVATE 100.00 PRIVATE EQUITY EUROPE SA EQUITY FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS 100.00 PRIVATE EQUITY FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS PARIS AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA CREDIT COMPAGNIE FINANCIERE DE PARIS 65.00 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA MILLESIMES AXA 10.10 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA MILLESIMES AXA CORPORATE SOLUTIONS 11.95 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA MILLESIMES SOCIETE BEAUJON 7.26 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA MILLESIMES JOUR FINANCE 6.87 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE SURESNES AXA ASSURANCES IARD 21.19 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE SURESNES SOCIETE BEAUJON 0.92 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE SURESNES COMPAGNIE FINANCIERE DE PARIS 51.07 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE SURESNES JOUR FINANCE 20.63 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE SURESNES AXA COURTAGE IARD 2.53 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA BANQUE COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE BANQUE DE MARCHES ET AXA 19.51 D'ARBITRAGE FINANCIAL SERVICES & REAL ESTATE FRANCE BANQUE DE MARCHES ET AXA COURTAGE IARD 8.20 D'ARBITRAGE FINANCIAL SERVICES & REAL ESTATE FRANCE COMPAGNIE FINANCIERE DE PARIS AXA 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE 21 MATIGNON AXA 0.55 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE 21 MATIGNON SGCI 99.44 FINANCIAL SERVICES & REAL ESTATE FRANCE COLISEE VICTOIRE SGCI 99.74 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA ASSET MANAG CONSULTANT AXA INVESTMENT MANAGERS 99.95 FINANCIAL SERVICES & REAL ESTATE FRANCE COMPAGNIE PARISIENNE DE SOFINAD 100.00 PARTICIPATIONS FINANCIAL SERVICES & REAL ESTATE FRANCE AXA GESTION INTERESSEMENT AXA INVESTMENT MANAGERS PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE BANQUE DES TUILERIES COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS FUNDS AXA INVESTMENT MANAGERS 98.84 MANAGEMENT FINANCIAL SERVICES & REAL ESTATE FRANCE AXA INVESTMENT MANAGERS FUNDS AXA INVESTMENT MANAGERS PARIS 1.16 MANAGEMENT FINANCIAL SERVICES & REAL ESTATE FRANCE AXA ASSET MANAGEMENT AXA INVESTMENT MANAGERS 50.48 PRIVATE EQUITY EUROPE SA PRIVATE EQUITY SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ FINANCIAL SERVICES & REAL ESTATE FRANCE MONTE SCOPETO COMPAGNIE PARISIENNE DE 99.99 PARTICIPATIONS FINANCIAL SERVICES & REAL ESTATE FRANCE SGCI AXA 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE SOFAPI COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE HOLDING SOFFIM COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE SOFINAD COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE FRANCE TRANSAXIM COMPAGNIE PARISIENNE DE 100.00 PARTICIPATIONS FINANCIAL SERVICES & REAL ESTATE FRANCE BANQUE WORMS COMPAGNIE FINANCIERE DE PARIS 100.00 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA COLONIA ASSET MANAGEMENT AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA COLONIA KAG AXA INVESTMENT MANAGERS 85.00 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA FUNDS GMBH AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA VORSORGEBANK AXA COLONIA KONZERN AG 100.00 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA COLONIA BAUSPARKASSE AG AXA COLONIA KONZERN AG 66.67 FINANCIAL SERVICES & REAL ESTATE GERMANY AXA COLONIA BAUSPARKASSE AG AXA COLONIA LEBEN 32.98 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA ASSET MANAGEMENT LTD AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA INVESTMENT MANAGERS GS AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA INVESTMENT MANAGERS LIMITED AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA MULTIMANAGER LIMITED AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA INVESTMENT MANAGERS UK AXA INVESTMENT MANAGERS 66.67 FINANCIAL SERVICES & REAL ESTATE GREAT BRITAIN AXA INVESTMENT MANAGERS UK AXA ASSET MANAGEMENT LTD 33.33 FINANCIAL SERVICES & REAL ESTATE HONG KONG AXA INVESTMENT MANAGERS HK SAR AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE HONG KONG AXA INVESTMENT MANAGERS HONG AXA INVESTMENT MANAGERS 100.00 KONG FINANCIAL SERVICES & REAL ESTATE ITALY AXA INVESTMENT MANAGERS MILAN AXA INVESTMENT MANAGERS 99.00 FINANCIAL SERVICES & REAL ESTATE ITALY AXA INVESTMENT MANAGERS MILAN AXA ASSICURAZIONI (VIE) 1.00 FINANCIAL SERVICES & REAL ESTATE JAPAN AXA INVESTMENT MANAGERS TOKYO AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE THE NETHERLANDS AXA INVESTMENT MANAGERS DEN AXA INVESTMENT MANAGERS 100.00 HAAG FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA GLOBAL STRUCTURED PRODUCT AXA INVESTMENT MANAGERS 100.00 FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS 100.00 HOLDING INC. FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA INVESTMENT MANAGERS NEW AXA INVESTMENT MANAGERS 100.00 YORK FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS PRIVATE 100.00 PRIVATE EQUITY FUND EQUITY FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA INVESTMENT MANAGERS ROSE AXA INVESTMENT MANAGERS 90.00 FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA INVESTMENT MANAGERS ROSE AXA INVESTMENT MANAGERS HOLDING 10.00 INC. FINANCIAL SERVICES & REAL ESTATE UNITED STATES AXA ROSENBERG LLC AXA INVESTMENT MANAGERS ROSE 50.00 FINANCIAL SERVICES & REAL ESTATE UNITED STATES ALLIANCE CAPITAL MANGEMENT THE EQUITABLE LIFE ASSURANCE 100.00 CORP. SOCIETY HOLDINGS & MISC. BUSINESSES AUSTRALIA AXA ASIA PACIFIC HOLDINGS AXA EQUITY & LAW LIFE ASSURANCE 8.90 LIMITED SOCIETY HOLDINGS & MISC. BUSINESSES AUSTRALIA AXA ASIA PACIFIC HOLDINGS AXA 42.10 LIMITED HOLDINGS & MISC. BUSINESSES BELGIUM FINAXA BELGIUM AXA 99.99 HOLDINGS & MISC. BUSINESSES BELGIUM ROYALE BELGE INTERNATIONAL ROYALE BELGE INVESTISSEMENT 100.00 HOLDINGS & MISC. BUSINESSES BELGIUM AXA HOLDINGS BELGIUM AXA CORPORATE SOLUTIONS ASSURANCE 3.02 HOLDINGS & MISC. BUSINESSES BELGIUM AXA HOLDINGS BELGIUM AXA 43.75 HOLDINGS & MISC. BUSINESSES BELGIUM AXA HOLDINGS BELGIUM AXA PARTICIPATONS BELGIUM 49.10 HOLDINGS & MISC. BUSINESSES BELGIUM AXA HOLDINGS BELGIUM VINCI BV 4.11 HOLDINGS & MISC. BUSINESSES BELGIUM AXA PARTICIPATONS BELGIUM AXA CORPORATE SOLUTIONS ASSURANCE 12.63 HOLDINGS & MISC. BUSINESSES BELGIUM AXA PARTICIPATONS BELGIUM AXA 79.57 HOLDINGS & MISC. BUSINESSES BELGIUM AXA PARTICIPATONS BELGIUM AXA COURTAGE IARD 7.79 HOLDINGS & MISC. BUSINESSES FRANCE AXA CHINA AXA CHINA REGION LIMITED 49.00 HOLDINGS & MISC. BUSINESSES FRANCE AXA CHINA AXA 51.00 HOLDINGS & MISC. BUSINESSES FRANCE SOCIETE BEAUJON AXA 99.78 SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ HOLDINGS & MISC. BUSINESSES FRANCE SOCIETE BEAUJON AXA ASSURANCES IARD 0.22 HOLDINGS & MISC. BUSINESSES FRANCE COLISEE EXCELLENCE FINANCIERE MERMOZ 100.00 HOLDINGS & MISC. BUSINESSES FRANCE AXA DIRECT AXA 100.00 HOLDINGS & MISC. BUSINESSES FRANCE FINANCIERE 45 AXA 100.00 HOLDINGS & MISC. BUSINESSES FRANCE JOUR FINANCE AXA CONSEIL VIE 60.47 HOLDINGS & MISC. BUSINESSES FRANCE JOUR FINANCE AXA ASSURANCES IARD 39.53 HOLDINGS & MISC. BUSINESSES FRANCE LOR FINANCE AXA 100.00 HOLDINGS & MISC. BUSINESSES FRANCE MOFIPAR AXA 100.00 HOLDINGS & MISC. BUSINESSES FRANCE FINANCIERE MERMOZ AXA 100.00 HOLDINGS & MISC. BUSINESSES FRANCE AXA FRANCE ASSURANCE AXA 100.00 HOLDINGS & MISC. BUSINESSES GERMANY AXA COLONIA KONZERN AG AXA 25.49 HOLDINGS & MISC. BUSINESSES GERMANY AXA COLONIA KONZERN AG KOLNISCHE VERWALTUNGS 25.63 HOLDINGS & MISC. BUSINESSES GERMANY AXA COLONIA KONZERN AG VINCI BV 39.73 HOLDINGS & MISC. BUSINESSES GERMANY GRE CONTINENTAL EUROPE HOLDING AXA COLONIA KONZERN AG 100.00 GMBH HOLDINGS & MISC. BUSINESSES GERMANY KOLNISCHE VERWALTUNGS AXA 8.83 HOLDINGS & MISC. BUSINESSES GERMANY KOLNISCHE VERWALTUNGS AXA COLONIA KONZERN AG 23.02 HOLDINGS & MISC. BUSINESSES GERMANY KOLNISCHE VERWALTUNGS VINCI BV 67.72 HOLDINGS & MISC. BUSINESSES GREAT BRITAIN AXA EQUITY & LAW PLC AXA 99.94 HOLDINGS & MISC. BUSINESSES GREAT BRITAIN GUARDIAN ROYAL EXCHANGE PLC AXA UK PLC 100.00 HOLDINGS & MISC. BUSINESSES GREAT BRITAIN AXA UK PLC AXA EQUITY & LAW PLC 21.74 HOLDINGS & MISC. BUSINESSES GREAT BRITAIN AXA UK PLC AXA 78.26 HOLDINGS & MISC. BUSINESSES ITALY AXA ITALIA S.P.A AXA 96.99 HOLDINGS & MISC. BUSINESSES ITALY AXA ITALIA S.P.A AXA COLLECTIVES 3.01 HOLDINGS & MISC. BUSINESSES JAPAN AXA NICHIDAN INSURANCE HOLDING AXA 96.39 HOLDINGS & MISC. BUSINESSES LUXEMBOURG AXA LUXEMBOURG SA AXA HOLDINGS BELGIUM 100.00 HOLDINGS & MISC. BUSINESSES MOROCCO AXA ONA AXA 51.00 HOLDINGS & MISC. BUSINESSES SINGAPORE AXA INSURANCE INVESTMENT AXA 100.00 HOLDING HOLDINGS & MISC. BUSINESSES SPAIN AXA AURORA AXA 100.00 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS GELDERLAND AXA HOLDINGS BELGIUM 100.00 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA NEDERLAND BV AXA ROYALE BELGE NON VIE 17.29 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA NEDERLAND BV AXA ROYALE BELGE 21.24 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA NEDERLAND BV GELDERLAND 38.94 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA NEDERLAND BV ROYALE BELGE INTERNATIONAL 12.77 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA NEDERLAND BV AXA HOLDINGS BELGIUM 4.11 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS AXA VERZEKERINGEN AXA NEDERLAND BV 100.00 HOLDINGS & MISC. BUSINESSES THE NETHERLANDS VINCI BV AXA 100.00 HOLDINGS & MISC. BUSINESSES TURKEY AXA OYAK HOLDING AS AXA 50.00 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA MERGER AXA 100.00 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. AXA EQUITY & LAW LIFE ASSURANCE 4.09 SOCIETY HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. AXA 70.62 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. AXA MERGER 12.24 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. AXA CORPORATE SOLUTIONS 2.95 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. SOCIETE BEAUJON 0.44 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. FINANCIERE 45 3.20 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. LOR FINANCE 6.42 HOLDINGS & MISC. BUSINESSES UNITED STATES AXA FINANCIAL INC. AXA CORPORATE SOLUTIONS 0.03 REINSURANCE CY INSURANCE & REINSURANCE AUSTRALIA AUSTRALIAN CASUALTY INSUR PTY AXA ASIA PACIFIC HOLDINGS LIMITED 100.00 LTD SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ INSURANCE & REINSURANCE AUSTRALIA NATIONAL MUTUAL HEALTH INSUR AXA ASIA PACIFIC HOLDINGS LIMITED 100.00 PY LIMITED INSURANCE & REINSURANCE AUSTRALIA NATIONAL MUTUAL INTERNATIONAL NATIONAL MUTUAL FINANCIAL SERVICES 100.00 INSURANCE & REINSURANCE AUSTRALIA NATIONAL MUTUAL FINANCIAL AXA ASIA PACIFIC HOLDINGS LIMITED 100.00 SERVICES INSURANCE & REINSURANCE AUSTRIA AXA NORDSTERN COLONIA AXA COLONIA LEBEN 10.05 VERSICHERUNG INSURANCE & REINSURANCE AUSTRIA AXA NORDSTERN COLONIA AXA COLONIA VERSICHERUNG 89.95 VERSICHERUNG INSURANCE & REINSURANCE AUSTRIA AXA NORDSTERN COLONIA LEBEN AXA NORDSTERN COLONIA VERSICHERUNG 100.00 INSURANCE & REINSURANCE BELGIUM AXA ROYALE BELGE AXA HOLDINGS BELGIUM 99.58 INSURANCE & REINSURANCE BELGIUM AXA ROYALE BELGE UAB NON VIE 0.04 INSURANCE & REINSURANCE BELGIUM AXA ROYALE BELGE UAB 0.38 INSURANCE & REINSURANCE BELGIUM ARDENNE PREVOYANTE AXA HOLDINGS BELGIUM 100.00 INSURANCE & REINSURANCE BELGIUM ASSURANCES LA POSTE AXA HOLDINGS BELGIUM 50.00 INSURANCE & REINSURANCE BELGIUM ASSURANCES LA POSTE VIE AXA HOLDINGS BELGIUM 50.00 INSURANCE & REINSURANCE BELGIUM UAB NON VIE AXA HOLDINGS BELGIUM 100.00 INSURANCE & REINSURANCE CANADA AXA CANADA AXA 100.00 INSURANCE & REINSURANCE CANADA AXA CANADA ADP AXA CANADA 100.00 INSURANCE & REINSURANCE CHINA AXA MINMETALS ASSURANCE CO LTD AXA CHINA 51.00 INSURANCE & REINSURANCE FRANCE CORPORATE SOLUTIONS ASSURANCE AXA CORPORATE SOLUTIONS 98.49 INSURANCE & REINSURANCE FRANCE AXA CONSEIL VIE AXA FRANCE ASSURANCE 100.00 INSURANCE & REINSURANCE FRANCE ARGOVIE AXA COLLECTIVES 94.03 INSURANCE & REINSURANCE FRANCE AXA CORPORATE SOLUTIONS AXA CORPORATE SOLUTIONS ASSURANCE 1.54 INSURANCE & REINSURANCE FRANCE AXA CORPORATE SOLUTIONS AXA 89.98 INSURANCE & REINSURANCE FRANCE AXA CORPORATE SOLUTIONS AXA ASSURANCES IARD 6.03 INSURANCE & REINSURANCE FRANCE AXA CORPORATE SOLUTIONS AXA COURTAGE IARD 2.17 INSURANCE & REINSURANCE FRANCE AXA CORPORATE SOLUTIONS AXA COLLECTIVES 0.02 INSURANCE & REINSURANCE FRANCE AXA ASSURANCES IARD AXA FRANCE ASSURANCE 100.00 INSURANCE & REINSURANCE FRANCE AXA RE FINANCE AXA CORPORATE SOLUTIONS 65.83 INSURANCE & REINSURANCE FRANCE AXA RE FINANCE AXA CESSIONS 13.17 INSURANCE & REINSURANCE FRANCE AXA ASSURANCES VIE AXA FRANCE ASSURANCE 88.87 INSURANCE & REINSURANCE FRANCE AXA ASSURANCES VIE AXA COLLECTIVES 11.13 INSURANCE & REINSURANCE FRANCE C.G.R.M. MONTE-CARLO AXA CORPORATE SOLUTIONS 99.99 INSURANCE & REINSURANCE FRANCE JURIDICA AXA FRANCE ASSURANCE 98.51 INSURANCE & REINSURANCE FRANCE DIRECT ASSURANCES IARD AXA DIRECT 100.00 INSURANCE & REINSURANCE FRANCE DIRECT ASSURANCES VIE AXA DIRECT 100.00 INSURANCE & REINSURANCE FRANCE NATIO ASSURANCES AXA ASSURANCES IARD 50.00 INSURANCE & REINSURANCE FRANCE NSM VIE AXA FRANCE ASSURANCE 35.64 INSURANCE & REINSURANCE FRANCE NSM VIE AXA COLLECTIVES 4.46 INSURANCE & REINSURANCE FRANCE AXA ASSISTANCE AXA 100.00 INSURANCE & REINSURANCE FRANCE SPS RE AXA CORPORATE SOLUTIONS 69.94 INSURANCE & REINSURANCE FRANCE AXA CESSIONS AXA CORPORATE SOLUTIONS 100.00 INSURANCE & REINSURANCE FRANCE SAINT GEORGES RE AXA 99.40 INSURANCE & REINSURANCE FRANCE SAINT GEORGES RE AXA FRANCE ASSURANCE 0.60 INSURANCE & REINSURANCE FRANCE AXA CONSEIL IARD AXA FRANCE ASSURANCE 100.00 INSURANCE & REINSURANCE FRANCE AXA COURTAGE IARD AXA FRANCE ASSURANCE 99.65 INSURANCE & REINSURANCE FRANCE AXA COLLECTIVES AXA ASSURANCES IARD 3.69 INSURANCE & REINSURANCE FRANCE AXA COLLECTIVES AXA FRANCE ASSURANCE 95.71 INSURANCE & REINSURANCE GERMANY SICHER DIRECT AXA COLONIA VERSICHERUNG 100.00 INSURANCE & REINSURANCE GERMANY AXA COLONIA LEBEN AXA COLONIA KONZERN AG 47.81 SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ INSURANCE & REINSURANCE GERMANY AXA COLONIA LEBEN AXA COLONIA VERSICHERUNG 52.19 INSURANCE & REINSURANCE GERMANY AXA COLONIA VERSICHERUNG AXA COLONIA KONZERN AG 74.41 INSURANCE & REINSURANCE GERMANY AXA COLONIA VERSICHERUNG GRE CONTINENTAL EUROPE HOLDING GMBH 25.59 INSURANCE & REINSURANCE GERMANY AXA COLONIA KRANKEN AXA COLONIA KONZERN AG 51.00 VERSICHERUNG INSURANCE & REINSURANCE GERMANY AXA COLONIA KRANKEN AXA COLONIA LEBEN 48.36 VERSICHERUNG INSURANCE & REINSURANCE GERMANY AXA NORDSTERN ART AXA COLONIA KONZERN AG 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA EQUITY & LAW LIFE AXA SUN LIFE 100.00 ASSURANCE SOCIETY INSURANCE & REINSURANCE GREAT BRITAIN AXA INSURANCE UK GUARDIAN ROYAL EXCHANGE PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA SUN LIFE AXA UK PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA UK HOLDING PLC AXA CORPORATE SOLUTIONS 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA INSURANCE PLC GUARDIAN ROYAL EXCHANGE PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA GLOBAL RISKS (U.K.) LTD AXA CORPORATE SOLUTIONS 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA UK AXA 100.00 INSURANCE & REINSURANCE GREAT BRITAIN PPP GROUP PLC GUARDIAN ROYAL EXCHANGE PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN PPP HEALTHCARE LTD AXA INSURANCE UK 100.00 INSURANCE & REINSURANCE GREAT BRITAIN PPP LIFETIMECARE GUARDIAN ROYAL EXCHANGE PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN AXA REINSURANCE UK PLC AXA UK HOLDING PLC 100.00 INSURANCE & REINSURANCE GREAT BRITAIN ENGLISH & SCOTTISH AXA UK 100.00 INSURANCE & REINSURANCE HONG KONG AXA CHINA REGION LIMITED NATIONAL MUTUAL FINANCIAL SERVICES 100.00 INSURANCE & REINSURANCE HONG KONG AXA INSURANCE HONG-KONG AXA 17.50 INSURANCE & REINSURANCE HONG KONG AXA INSURANCE HONG-KONG AXA INSURANCE INVESTMENT HOLDING 82.50 INSURANCE & REINSURANCE HONG KONG AXA GENERAL INSURANCE HK AXA 100.00 INSURANCE & REINSURANCE HUNGARY AXA COLONIA BIZTOSITO DOMMAGES AXA NORDSTERN COLONIA VERSICHERUNG 100.00 INSURANCE & REINSURANCE HUNGARY AXA COLONIA BIZTOSITO VIE AXA NORDSTERN COLONIA VERSICHERUNG 100.00 INSURANCE & REINSURANCE IRELAND GUARDIAN DUBLIN DOCKS GUARDIAN PMPA GROUP LTD 100.00 INSURANCE & REINSURANCE IRELAND GUARDIAN PMPA GROUP LTD GUARDIAN ROYAL EXCHANGE PLC 100.00 INSURANCE & REINSURANCE ITALY AXA INTERLIFE AXA 100.00 INSURANCE & REINSURANCE ITALY AXA ASSICURAZIONI AXA CONSEIL VIE 1.84 INSURANCE & REINSURANCE ITALY AXA ASSICURAZIONI AXA 85.87 INSURANCE & REINSURANCE ITALY AXA ASSICURAZIONI AXA ITALIA S.P.A 10.40 INSURANCE & REINSURANCE ITALY AXA ASSICURAZIONI AXA COLLECTIVES 1.88 INSURANCE & REINSURANCE ITALY UAP VITA AXA CONSEIL VIE 18.70 INSURANCE & REINSURANCE ITALY UAP VITA AXA 62.21 INSURANCE & REINSURANCE ITALY UAP VITA AXA COLLECTIVES 19.08 INSURANCE & REINSURANCE JAPAN AXA NICHIDAN LIFE AXA NICHIDAN INSURANCE HOLDING 100.00 INSURANCE & REINSURANCE JAPAN AXA NON LIFE INSURANCE CO LTD AXA 100.00 INSURANCE & REINSURANCE JAPAN NICHIDAN LIFE AXA NICHIDAN INSURANCE HOLDING 100.00 INSURANCE & REINSURANCE LUXEMBOURG AXA ASSURANCES LUXEMBOURG AXA LUXEMBOURG SA 100.00 INSURANCE & REINSURANCE LUXEMBOURG AXA ASSUR. VIE LUXEMBOURG AXA LUXEMBOURG SA 100.00 INSURANCE & REINSURANCE LUXEMBOURG CREALUX AXA HOLDINGS BELGIUM 100.00 INSURANCE & REINSURANCE LUXEMBOURG FUTUR RE CORPORATE SOLUTIONS ASSURANCE 100.00 INSURANCE & REINSURANCE LUXEMBOURG PANEURORE AXA INSURANCE UK 20.00 INSURANCE & REINSURANCE LUXEMBOURG PANEURORE AXA PORTUGAL COMPANHIA DE SEGUROS 5.00 INSURANCE & REINSURANCE LUXEMBOURG PANEURORE AXA COLONIA VERSICHERUNG 20.00 INSURANCE & REINSURANCE LUXEMBOURG PANEURORE AXA ASSICURAZIONI 5.00 INSURANCE & REINSURANCE LUXEMBOURG PANEURORE AURORA IBERICA SA DE SEGUROS Y 10.00 REAS. INSURANCE & REINSURANCE LUXEMBOURG PANEURORE ROYALE BELGE INVESTISSEMENT 20.00 SOVEREIGN POWER % OF VOTING UNDER WHICH SECURITIES PRINCIPAL BUSINESS ORGANIZED NAME OF COMPANY NAME OF CONTROLLING ENTITY OWNED ------------------------------------------------------------------------------------------------------------------------------------ INSURANCE & REINSURANCE LUXEMBOURG PANEURORE SAINT GEORGES RE 20.00 INSURANCE & REINSURANCE MOROCCO AXA ASSURANCE MAROC AXA ONA 99.99 INSURANCE & REINSURANCE MOROCCO EPARGNE CROISSANCE AXA ASSURANCE MAROC 99.59 INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL COMPANHIA DE AXA CORPORATE SOLUTIONS ASSURANCE 9.07 SEGUROS INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL COMPANHIA DE AXA PORTUGAL SEGUROS VIDA 2.15 SEGUROS INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL COMPANHIA DE AXA CONSEIL VIE 5.37 SEGUROS INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL COMPANHIA DE AXA 82.98 SEGUROS INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL SEGUROS VIDA AXA CONSEIL VIE 87.63 INSURANCE & REINSURANCE PORTUGAL AXA PORTUGAL SEGUROS VIDA AXA 7.46 INSURANCE & REINSURANCE SINGAPORE AXA INSURANCE SINGAPORE AXA 25.77 INSURANCE & REINSURANCE SINGAPORE AXA INSURANCE SINGAPORE AXA INSURANCE INVESTMENT HOLDING 74.23 INSURANCE & REINSURANCE SINGAPORE AXA LIFE SINGAPOUR NATIONAL MUTUAL INTERNATIONAL 100.00 INSURANCE & REINSURANCE SINGAPORE AXA CORPORATE SOLUTIONS ASIA AXA CORPORATE SOLUTIONS 100.00 PACIFIC PRIVATE LTD INSURANCE & REINSURANCE SPAIN AXA AURORA IBERICA AXA AURORA 99.68 INSURANCE & REINSURANCE SPAIN AXA AURORA VIDA DE SEGUROS Y AXA 1.45 REASEGUROS INSURANCE & REINSURANCE SPAIN AXA AURORA VIDA DE SEGUROS Y AURORA IBERICA SA DE SEGUROS Y 98.51 REASEGUROS REAS. INSURANCE & REINSURANCE SPAIN AYUDA LEGAL SA DE SEGUROS Y AXA AURORA VIDA DE SEGUROS Y 12.00 REASEGUROS REASEGUROS INSURANCE & REINSURANCE SPAIN AYUDA LEGAL SA DE SEGUROS Y AURORA IBERICA SA DE SEGUROS Y 88.00 REASEGUROS REAS. INSURANCE & REINSURANCE SPAIN HILO DIRECT SA DE SEGUROS Y AXA AURORA 50.00 REASEGUROS INSURANCE & REINSURANCE SPAIN AURORA IBERICA SA DE SEGUROS Y AXA AURORA 99.68 REAS. INSURANCE & REINSURANCE SWITZERLAND AXA COMPAGNIE D'ASSURANCES AXA 99.95 INSURANCE & REINSURANCE SWITZERLAND AXA COMPAGNIE D'ASSURANCE SUR AXA 94.99 LA VIE INSURANCE & REINSURANCE SWITZERLAND AXA COMPAGNIE D'ASSURANCE SUR AXA COMPAGNIE D'ASSURANCES 5.00 LA VIE INSURANCE & REINSURANCE THE NETHERLANDS AXA LEVEN NV AXA VERZEKERINGEN 100.00 INSURANCE & REINSURANCE THE NETHERLANDS UNIROBE GROEP AXA NEDERLAND BV 100.00 INSURANCE & REINSURANCE THE NETHERLANDS AXA SCHADE AXA VERZEKERINGEN 100.00 INSURANCE & REINSURANCE THE NETHERLANDS AXA ZORG NV AXA VERZEKERINGEN 100.00 INSURANCE & REINSURANCE TURKEY AXA OYAK HAYAT SIGORTA AXA OYAK HOLDING AS 100.00 INSURANCE & REINSURANCE TURKEY AXA OYAK SIGORTA AXA OYAK HAYAT SIGORTA 0.70 INSURANCE & REINSURANCE TURKEY AXA OYAK SIGORTA AXA OYAK HOLDING AS 70.32 INSURANCE & REINSURANCE UNITED STATES AXA CORPORATE SOLUTIONS AXA CORPORATE SOLUTIONS 100.00 INSURANCE CO INSURANCE & REINSURANCE UNITED STATES AXA AMERICA CORPORATE AXA CORPORATE SOLUTIONS 100.00 SOLUTIONS, INC INSURANCE & REINSURANCE UNITED STATES THE EQUITABLE LIFE ASSURANCE AXA FINANCIAL INC. 100.00 SOCIETY INSURANCE & REINSURANCE UNITED STATES AXA CORPORATE SOLUTIONS AXA AMERICA CORPORATE SOLUTIONS, 100.00 REINSURANCE CY INC INSURANCE & REINSURANCE UNITED STATES AXA CORPORATE SOLUTIONS AXA CORPORATE SOLUTIONS 100.00 AMERICA INS. CY REINSURANCE CY INSURANCE & REINSURANCE UNITED STATES AXA CORPORATE SOLUTIONS LIFE AXA AMERICA CORPORATE SOLUTIONS, 0.21 REINSURANCE COMPANY INC INSURANCE & REINSURANCE UNITED STATES AXA CORPORATE SOLUTIONS LIFE AXA CORPORATE SOLUTIONS 99.79 REINSURANCE COMPANY REINSURANCE CY
Item 27. Number of Contractowners As of February 28, 2001, there were 7,772 contractholders of the product offered by the Registrant under this Registration Statement. Item 28. Indemnification Indemnification of Principal Underwriter To the extent permitted by law of the State of New York and subject to all applicable requirements thereof, AXA Advisors, LLC has undertaken to indemnify each of its directors and officers who is made or threatened to be made a party to any action or proceeding, whether civil or criminal, by reason of the fact the director or officer, or his or her testator or intestate, is or was a director or officer of AXA Advisors, LLC. Indemnification of Directors and Officers The By-Laws of The Equitable Life Assurance Society of the United States ("Equitable Life") provide, in Article VII, as follows: 7.4 Indemnification of Directors, Officers and Employees. (a) To the extent permitted by the law of the State of New York and subject to all applicable requirements thereof: (i) any person made or threatened to be made a party to any action or proceeding, whether civil or criminal, by reason of the fact that he or she, or his or her testator or intestate, is or was a director, officer or employee of the Company shall be indemnified by the Company; (ii) any person made or threatened to be made a party to any action or proceeding, whether civil or criminal, by reason of the fact that he or she, or his or her testator or intestate serves or served any other organization in any capacity at the request of the Company may be indemnified by the Company; and (iii) the related expenses of any such person in any of said categories may be advanced by the Company. (b) To the extent permitted by the law of the State of New York, the Company may provide for further indemnification or advancement of expenses by resolution of shareholders of the Company or the Board of Directors, by amendment of these By-Laws, or by agreement. (Business Corporation Law ss 721-726; Insurance Law ss.1216) The directors and officers of Equitable Life are insured under policies issued by Lloyd's of London, X. L. Insurance Company and ACE Insurance Company. The annual limit on such policies is $150 million, and the policies insure the officers and directors against certain liabilities arising out of their conduct in such capacities. Undertaking Insofar as indemnification for liability arising under the Securities Act of 1933 ("Act") may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Item 29. Principal Underwriters (a) AXA Advisors, LLC, an affiliate of Equitable, is the principal underwriter for Separate Account A, Separate Account No. 301, Separate Account I and Separate Account FP. AXA Advisors, LLC's principal business address is 1290 Avenue of the Americas, New York, NY 10104. (b) Set forth below is certain information regarding the directors and principal officers of AXA Advisors, LLC. The business address of the persons whose names are preceded by an asterisk is that of AXA Advisors, LLC. C-10 NAME AND PRINCIPAL POSITIONS AND OFFICES WITH UNDERWRITER BUSINESS ADDRESS (AXA ADVISORS LLC) ---------------- -------------------------------------- *Michael S. Martin Chairman of the Board and Chief Executive Officer, and Director *Derry E. Bishop Executive Vice President and Director *Harvey E. Blitz Executive Vice President and Director G. Patrick McGunagle Executive Vice President and Director *Richard V. Silver Director *Mark R. Wutt Director Richard Davies Director 1345 Avenue of the Americas 39th Floor New York, NY 10105 Edward J. Hayes Executive Vice President 200 Plaza Drive Secaucus, NJ 07096 *Craig A. Junkins Executive Vice President *Peter D. Noris Executive Vice President *Nik Malvania Executive Vice President *James Bodowitz Senior Vice President and General Counsel *Mark A. Silberman Senior Vice President and Chief Financial Officer Stephen T. Burnthall Senior Vice President 6435 Shiloh Road Suite A Alpharetta, GA 30005 *Catherine P. Earl Senior Vice President Richard Magaldi Senior Vice President 6435 Shiloh Road Suite A Alpharetta, GA 30005 *Robert Schmidt Senior Vice President *Cindy Schreiner Senior Vice President *Jill Cooley Senior Vice President *Donna M. Dazzo First Vice President *Amy Francesscheni First Vice President *Anne Nussbaum First Vice President *Philomena Scamardella First Vice President *John Bratten First Vice President *Michael Brzozowski Vice President *Mark D. Godolsky Vice President and Controller *David Mahler Vice President and Compliance Officer *Linda J. Galasso Secretary *Francesca Divore Assistant Secretary (c) Not applicable. Item 30. Location of Accounts and Records The records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 to 31a-3 thereunder are maintained by Equitable at 1290 Avenue of the Americas, New York, New York 10104, 135 West 50th Street, New York, NY 10020, and 200 Plaza Drive, Secaucus, NJ 07096. The contract files will be kept at Vantage Computer System, Inc., 301 W. 11th Street, Kansas City, Mo. 64105. Item 31. Management Services Not applicable. Item 32. Undertakings The Registrant hereby undertakes: (a) to file a post-effective amendment to this registration statement as frequently as is necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted; (b) to include either (1) as part of any application to purchase a contract offered by the prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or similar written communication affixed to or included in the prospectus that the applicant can remove to send for a Statement of Additional Information; (c) to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request. Equitable represents that the fees and charges deducted under the Certificates described in this Registration Statement, in the aggregate, in each case, are reasonable in relation to the services rendered, the expenses to be incurred, and the risks assumed by Equitable under the respective Certificates. Equitable bases its representation on its assessment of all of the facts and circumstances, including such relevant factors as: the nature and extent of such services, expenses and risks, the need for Equitable to earn a profit, the degree to which the Certificates include innovative features, and regulatory standards for the grant of exemptive relief under the Investment Company Act of 1940 used prior to October 1996, including the range of industry practice. This representation applies to all certificates sold pursuant to this Registration Statement, including those sold on the terms specifically described in the prospectuses contained herein, or any variations therein, based on supplements, endorsements, data pages, or riders to any Certificate or prospectus, or otherwise. C-11 SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of this amendment to the Registration Statement and has caused this amendment to the Registration Statement to be signed on its behalf, in the City and State of New York, on this 19th day of April, 2001. SEPARATE ACCOUNT A OF THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Registrant) By: The Equitable Life Assurance Society of the United States (Depositor) By: /s/ Robin Wagner --------------------------------- Robin Wagner Vice President and Counsel The Equitable Life Assurance Society of the United States C-12 SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Depositor, has caused this amendment to the Registration Statement to be signed on its behalf, in the City and State of New York, on this 19th day of April, 2001. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Depositor) By: /s/ Robin Wagner --------------------------------- Robin Wagner Vice President and Counsel The Equitable Life Assurance Society of the United States As required by the Securities Act of 1933, this amendment to the Registration Statement has been signed by the following persons in the capacities and on the date indicated: PRINCIPAL EXECUTIVE OFFICERS: *Michael Hegarty President, Chief Operating Officer and Director *Edward D. Miller Chairman of the Board, Chief Executive Officer and Director PRINCIPAL FINANCIAL OFFICER: *Stanley B. Tulin Vice Chairman of the Board Chief Financial Officer and Director PRINCIPAL ACCOUNTING OFFICER: *Alvin H. Fenichel Senior Vice President and Controller *DIRECTORS: Francoise Colloc'h Norman C. Francis George T. Lowy Henri de Castries Donald J. Greene Edward D. Miller Claus-Michael Dill John T. Hartley Didier Pineau-Valencienne Joseph L. Dionne John H.F. Haskell, Jr. George J. Sella, Jr. Denis Duverne Michael Hegarty Peter J. Tobin Jean-Rene Fourtou Mary R. (Nina) Henderson Stanley B. Tulin W. Edwin Jarmain Dave H. Williams *By: /s/ Robin Wagner ------------------------ Robin Wagner Attorney-in-Fact April 19, 2001 C-13 EXHIBIT INDEX EXHIBIT NO. TAG VALUE ----------- --------- 3.(d) Distribution Agreement EX-99.3d 3.(e) Distribution Agreement EX-99.3e 4.(i) Form of Endorsement - NQ Certificates EX-99.4i 10.(b) Consent of Independent Public Accountants EX-99.10b 10.(c) Power of Attorney for Claus-Michael Dill EX-99.10c 24.(b)7 Form of Reinsurance Agreement EX-99.24b7 C-14