EXHIBIT (8)(a)(3)

AMENDMENT NO. 28 TO PARTICIPATION AGREEMENT

(AEGON/TRANSAMERICA)

AMENDMENT NO. 28 TO

PARTICIPATION AGREEMENT AMONG

AEGON/TRANSAMERICA SERIES FUND, INC.,

TRANSAMERICA LIFE INSURANCE COMPANY,

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY,

PEOPLES BENEFIT LIFE INSURANCE COMPANY,

TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY AND

TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY

Amendment No. 28 to the Participation Agreement among AEGON/Transamerica Series Fund, Inc., (the “Fund”), Transamerica Life Insurance Company (“Transamerica”), Transamerica Financial Life Insurance Company (“TFLIC”), Peoples Benefit Life Insurance Company (“Peoples”), Transamerica Occidental Life Insurance Company (“TOLIC”), and Transamerica Life Insurance and Annuity Company (“TALIAC”) dated July 1, 1992, as amended (“Participation Agreement”).

WHEREAS, Transamerica and TFLIC, has registered or will register certain variable annuity contracts (the “Policies”) under the Securities Act of 1933; and

WHEREAS, Transamerica has, by resolution of its Board of Directors, duly organized and established the Separate Account VA R, the Separate Account VA S and the Separate Account Q; and TFLIC has, by resolution of its Board of Directors, duly organized and established the Separate Account QNY (the “Accounts”), as segregated asset accounts to receive, set aside and invest assets attributable to net premiums and payments received under the Policies and such Policies will be partly funded by the Fund; and

WHEREAS, Transamerica and TFLIC has registered or will register the Accounts as unit investment trusts under the Investment Company Act of 1940, as amended; and

WHEREAS, to the extent permitted by applicable insurance law and regulations, Transamerica and TFLIC intend to purchase shares in one or more of the portfolios of the Fund to fund its contracts on behalf of the Accounts, as specified in Schedule A attached to this Amendment, as such Schedule A is amended by this Amendment No. 28, and as Schedule A may be amended from time to time; and

NOW, THEREFORE, IT IS HEREBY AGREED that Transamerica, through its Policies, Flexible Premium Variable Annuity—C, Flexible Premium Variable Annuity—D and Flexible Premium Variable Annuity—B; and TFLIC, through its Policy, Flexible Premium Variable Annuity—E, will purchase and redeem shares issued by the Fund, subject to the terms and conditions of the Participation Agreement. It is also hereby agreed that Schedule A to this Agreement will be amended to add the Flexible Premium Variable Annuity—C, the Flexible Premium Variable Annuity—D, the Flexible Premium Variable Annuity—B and the Flexible Premium Variable Annuity—E as additional “Policies”; and to add the Separate Account VA R, the Separate Account VA S, the Separate Account Q and the Separate Account QNY as additional “Accounts”.

IN WITNESS WHEREOF, each of the parties has caused this Amendment to be executed in its name and on its behalf by its duly authorized representative as of December 1, 2003.

TRANSAMERICA LIFE INSURANCE COMPANY		AEGON/TRANSAMERICA SERIES FUND, INC.
By its authorized officer		By its authorized officer
By:	/s/    Larry N. Norman	By:	/s/    John K. Carter
	Larry N. Norman Title: President		John K. Carter Title: Vice President, Secretary             and General Counsel

TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY		PEOPLES BENEFIT LIFE INSURANCE COMPANY
By its authorized officer		By its authorized officer
By:	/s/     Larry N. Norman	By:	/s/     Larry N. Norman
	Larry N. Norman Title: Vice President		Larry N. Norman Title: Executive Vice President

TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY		TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY
By its authorized officer		By its authorized officer
By:	/s/    Priscilla I. Hechler	By:	/s/    Priscilla I. Hechler
	Priscilla I. Hechler Title: Assistant Vice President and Assistant Secretary		Priscilla I. Hechler Title: Assistant Vice President and Assistant Secretary

AMENDED SCHEDULE A

Effective December 1, 2003

Account(s), Policy(ies) and Portfolio(s)

Subject to the Participation Agreement

Accounts:	Separate Account VA B
	Separate Account VA BNY
	Mutual Fund Account
	Separate Account VA A
	Separate Account VA C
	Separate Account VA D
	Retirement Builder Variable Annuity Account
	Transamerica Financial Life Insurance Company Separate Account C
	Peoples Benefit Life Insurance Company Separate Account V
	Legacy Builder Variable Life Separate Account
	TFLIC Series Life Account
	TFLIC Series Annuity Account
	Transamerica Occidental Life Separate Account VUL-3
	Separate Account VA E
	Separate Account VA F
	Transamerica Occidental Life Separate Account VUL-4
	Transamerica Occidental Life Separate Account VUL-5
	Transamerica Life Insurance and Annuity Company on behalf
	of its Separate Account VA-8
	Separate Account VA J
	Transamerica Occidental Life Separate Account VUL-6
	TA PPVUL 1
	Separate Account K
	Separate Account H
	Separate Account G
	Separate Account VA-2LNY
	Separate Account VA-2L
	Separate Account VL A
	AES Private Placement VA Separate Account
	Separate Account VA L
	Separate Account VA P
	PFL Corporate Account One
	Separate Account VA R
	Separate Account VA S
	Separate Account Q
	Separate Account QNY
Policies:	Transamerica Landmark Variable Annuity
	Transamerica Landmark NY Variable Annuity
	Atlas Portfolio Builder Variable Annuity
	Transamerica EXTRA Variable Annuity
	Transamerica Access Variable Annuity
	Retirement Income Builder II Variable Annuity
	TFLIC & Peoples—Advisor’s Edge Variable Annuity
	Peoples—Advisor’s Edge Select Variable Annuity
	Legacy Builder Plus
	TFLIC Financial Freedom Builder
	Transamerica Elite
	Privilege Select Variable Annuity
	Estate Enhancer Variable Life
	TransSurvivor Life Variable Universal Life
	TransMark Optimum Choice Variable Annuity
	TransUltra® Variable Universal Life
	TFLIC Freedom Elite Builder
	TFLIC Premier Variable Annuity

AMENDED SCHEDULE A (continued)

Policies (continued):
	Immediate Income Builder II
	Premier Asset Builder Variable Annuity
	TransAccumulator VUL cv
	TFLIC Freedom Wealth Protector
	Advantage V
	Retirement Income Builder Variable Annuity
	Retirement Income Builder—BAI Variable Annuity
	Dreyfus Advisor Advantage Variable Annuity
	Dreyfus Access Advantage Variable Annuity
	Dreyfus/Transamerica Triple Advantage® Variable Annuity (NY)
	Dreyfus/Transamerica Triple Advantage® Variable Annuity
	Transamerica Variable Life
	Advisor’s Edge Select Private Placement
	Transamerica Preferred Advantage Variable Annuity
	Flexible Premium Variable Annuity—A
	Portfolio Select Variable Annuity—B
	Flexible Premium Variable Annuity—C
	Flexible Premium Variable Annuity—D
	Flexible Premium Variable Annuity—E
Portfolios:	AEGON/Transamerica Series Fund, Inc.—Each Portfolio has an Initial Class of Shares and a Service Class of Shares
	AEGON Bond
	Alger Aggressive Growth
	Asset Allocation—Conservation Portfolio
	Asset Allocation—Moderate Portfolio
	Asset Allocation—Moderate Growth Portfolio
	Asset Allocation—Growth Portfolio
	American Century International
	American Century Income & Growth
	BlackRock Large Cap Value
	BlackRock Mid Cap Growth
	BlackRock Global Science & Technology Opportunities
	Capital Guardian Global
	Capital Guardian U.S. Equity
	Capital Guardian Value
	Clarion Real Estate Securities
	Dreyfus Mid Cap
	Dreyfus Small Cap Value
	Federated Growth & Income
	GE U.S. Equity
	Great Companies—America sm
	Great Companies—Technology sm
	J.P. Morgan Enhanced Index
	Janus Balanced
	Janus Global
	Janus Growth
	Jennison Growth
	LKCM Strategic Total Return
	Marsico Growth
	MFS High Yield
	Munder Net50
	PBHG/NWQ Value Select

AMENDED SCHEDULE A (continued)

Portfolios:	AEGON/Transamerica Series Fund, Inc. (continued)
	PBHG Mid Cap Growth
	PIMCO Total Return
	Protected Principal Stock
	Salomon All Cap
	Select+ Aggressive
	Select+ Conservative
	Select+ Growth & Income
	Templeton Great Companies Global
	T. Rowe Price Equity Income
	T. Rowe Price Growth Stock
	T. Rowe Price Small Cap
	Third Avenue Value
	Transamerica Equity
	Transamerica Convertible Securities
	Transamerica Growth Opportunities
	Transamerica Money Market
	Transamerica U.S. Government Securities
	Transamerica Value Balanced
	Van Kampen Active International Allocation
	Van Kampen Asset Allocation
	Van Kampen Emerging Growth