485BPOS 1 filingbody.htm PVC PEA #71 EFF 8-25-09 filingbody.pdf -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
                                                       Registration No. 02-35570 
 
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
 
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POST-EFFECTIVE AMENDMENT NO. 71 TO
FORM N-1A
REGISTRATION STATEMENT
under
THE SECURITIES ACT OF 1933
and
REGISTRATION STATEMENT
under
THE INVESTMENT COMPANY ACT OF 1940
 
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PRINCIPAL VARIABLE CONTRACTS FUNDS, INC.
formerly Principal Variable Contracts Fund, Inc.
(Exact name of Registrant as specified in Charter)
 
The Principal Financial Group
Des Moines, Iowa 50392
(Address of principal executive offices)
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Telephone Number (515) 248-3842
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        Copy to: 
                         MICHAEL D. ROUGHTON                                               JOHN W. BLOUCH, Esq. 
                         The Principal Financial Group                                               Dykema Gossett PLLC 
                          Des Moines, Iowa 50392                                               Franklin Square, Suite 300 West 
                                               1300 I Street, N.W. 
                                               Washington, DC 20005-3306 
(Name and address of agent for service)
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It is proposed that this filing will become effective (check appropriate box) 
____           immediately upon filing pursuant to paragraph (b) of Rule 485 
__XX_          on August 25, 2009, 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)(2) of Rule 485 
 
If appropriate, check the following box:   
 
____          This post-effective amendment designates a new effective date for a previously filed post-effective amendment. 
 
Explanatory Note   
 
This registration statement incorporates by reference the prospectus (the “Prospectus”) and statement of additional 
information, each dated May 1, 2009, included in Post-Effective Amendment No. 69 to the registration statement on 
Form N-1A (File No. 02-35570) filed on April 27, 2009 pursuant to paragraph (a) of Rule 485 (Accession No. 
0000898745-09-000217). This registration statement also incorporates by reference the supplements to the 
Prospectus dated and filed May 4, 2009 (Accession No. 0000898745-09-000253), May 21, 2009 (Accession No. 
0000898745-09-000287), and June 19, 2009 (Accession No. 0000898745-09-000319), and Supplement to the 
Statement of Additional Information dated and filed June 19, 2009 (Accession No. 0000898745-09-000319) 
pursuant to Rule 497.   

SUPPLEMENT DATED AUGUST 25, 2009
TO THE PROSPECTUS FOR PRINCIPAL VARIABLE CONTRACTS FUNDS, INC. 
DATED MAY 1, 2009
(as supplemented on May 4, 2009, May 21, 2009 and June 19, 2009) 
 
(Not all Accounts are offered in all variable annuity and variable life insurance contracts.) 

This supplement updates information currently in the Prospectus. Retain this supplement with the Prospectus. 
 
ACCOUNT DESCRIPTIONS           
 
MidCap Blend Account           
The MidCap Blend Account, an existing series with Class 1 shares, will have Class 2 shares as of the date of this 
supplement. Add the following to the information presented for the MidCap Blend Account in the Account Descriptions 
section:           
 
  Average Annual Total Returns (%)           
 
  For the periods ended December 31, 2008    Past 1 Year  Past 5 Years  Past 10 Years 
  MidCap Blend Account - Class 2 (1)            -34.13%        0.93% 4.57%
  Russell Midcap Index (2)           -41.46        -0.71        3.18
  Morningstar Mid-Cap Blend Category Average           -39.18        -1.89        2.92
(1)  The returns for Class 2 as of December 31, 2008, are based on the performance of Class 1 shares adjusted to reflect the fees and expenses of 
  Class 2 shares. The adjustment results in performance for such periods that is no higher than the historical performance of the Class 1 shares. 
   Class 1 shares began operations on December 18, 1987.           
(2)   Index performance does not reflect deductions for fees, expenses, or taxes.       
 
Fees and Expenses of the Account           
These fees and expenses do not include the effect of any sales charge, separate account expenses or other contract 
level expenses which may be applied at the variable life insurance or variable annuity product level. If such charges or 
fees were included, overall expenses would be higher and would lower the Account’s performance.   
 
Annual Account Operating Expenses           
(expenses that are deducted from Account assets) as a Percentage of Average Daily Net Assets 
 
 Estimated for the year ended December 31, 2009        Class 2   
  Management Fees        0.61%   
  Distribution and/or Service (12b-1) Fees         0.25   
  Other Expenses         0.01   
                                                                                   Total Annual Account Operating Expenses 0.87%   
 
Example           
This Example is intended to help you compare the cost of investing in the Account with the cost of investing in other 
mutual funds. The Example assumes that you invest $10,000 in the Account for the time periods indicated and then 
redeem all of your shares at the end of those periods. The expenses shown below would not change, however, if you 
continued to hold all of your shares at the end of the periods shown. The Example also assumes that your investment 
has a 5% return each year and that the Account’s operating expenses remain the same. If separate account expenses 
and contract level expenses were included, expenses would be higher. Although your actual costs may be higher or 
lower, based on these assumptions your cost would be:         
 
    Number of years you own your shares   
    1   3  5  10   
  MidCap Blend Account - Class 2  $89  $278  $482  $1,073   

SUPPLEMENT DATED AUGUST 25, 2009
TO THE STATEMENT OF ADDITIONAL INFORMATION 
FOR PRINCIPAL VARIABLE CONTRACTS FUNDS, INC. 
DATED MAY 1, 2009
(as supplemented on June 19, 2009)

This supplement updates information currently in the Statement of Additional Information. Retain this supplement with 
the Statement of Additional Information. 
 
FUND HISTORY 
 
The MidCap Blend Account, an existing series with Class 1 shares, will have Class 2 shares as of the date of this 
supplement. On page 4, add an “X” to the Class 2 column on the MidCap Blend Account line. 

PART C. OTHER INFORMATION 
Item 23. Exhibits.   
(a)  (1)  Amendment and Restatement of the Articles of Incorporation -- Filed as Ex-99.A on 10/24/00 (Accession 
    No. 0000012601-00-500016) and Filed as Ex-99.A on 04/27/06 (Accession No. 0000009713-06-000042) 
  (2)  (a)  Articles of Amendment (Incorporated by reference from exhibit #1(b)to registration statement 
      No. 333-137812 filed on Form N-14 on 10/5/06) (Accession No. 0000012601-06-000026) 
    (b)  Articles of Amendment effective May 17, 2008 Filed as Ex-99.A4 on 04/27/09 (Accession No. 
      0000898745-09-000217) 
    (c)  Articles of Amendment dated 06/30/09* 
  (3)  (a)  Articles Supplementary -- Filed as Ex-99.A.1 on 02/13/02 (Accession No. 0001126872-02-000002) 
    (b)  Articles Supplementary dtd 12/15/03 -- Filed as Ex-99.A on 02/26/04 (Accession No. 0000870786- 
      04-000042) 
    (c)  Articles Supplementary dtd 6/14/04 -- Filed as Ex-99.A on 08/27/04 (Accession No. 0001127048- 
      04-000101) 
    (d)  Certificate of Correction of Articles Supplementary dtd 10/7/04 -- Filed as Ex-99.A on 02/24/05 
      (Accession No. 000087086-05-000028) 
    (e)  Articles Supplementary dtd 12/13/04 -- Filed as Ex-99.A on 04/29/05 (Accession No. 0000870786- 
      05-000132) 
    (f)  Articles Supplementary dtd 07/07/2006 (Incorporated by reference from exhibit #1(b)(6)to 
      registration statement No. 333-137812 filed on Form N-14 on 10/5/06) (Accession No. 
      0000012601-06-000026) 
    (g)  Articles Supplementary dtd 06/19/09* 
  (4)  Articles of Amendment effective May 17, 2008 Filed as Ex-99.A4 on 04/27/09 (Accession No. 
    0000898745-09-000217) 
(b)  By-laws -- Filed as Ex-99.B on 12-31-03 (Accession No. 0000870786-03-000210) 
(c)  These have been previously filed as noted in response to Items 23(a) and 23(b). 
(d)  (1)  (a)  Management Agreement -- Filed as Ex-99.B5.A on 10/24/97 (Accession No. 0000915728-97- 
      000059) 
    (b)  First Amendment to Management Agreement -- Filed as Ex-99.B5.A1 on 02/13/98 (Accession No. 
      0000012601-98-000001) 
    (c)  Second Amendment to Management Agreement -- Filed as Ex-99.D.3 on 10/24/00 (Accession No. 
      0000012601-00-500016) 
    (d)  Third Amendment to Management Agreement -- Filed as Ex-99.D.4 on 10/24/00 (Accession No. 
      0000012601-00-500016) 
    (e)  Fourth Amendment to Management Agreement -- Filed as Ex-99.D on 12/31/03 (Accession No. 
      000087086-03-000210) 
    (f)  Amended & Restated Management Agreement -- Filed as Ex-99.D on 12/31/03 (Accession No. 
      000087086-03-000210) 
    (g)  Amended & Restated Management Agreement dtd 3/11/04 -- Filed as Ex-99.D on 06/15/04 
      (Accession No. 0000870786-04-000104) 

  (h)  Amended & Restated Management Agreement dtd 6/14/04 -- Filed as Ex-99.D on 08/27/04 
    (Accession No. 0001127048-04-000101) 
 
  (i)  Amended & Restated Management Agreement dtd 12/13/04 -- Filed as Ex-99.D on 02/24/05 
    (Accession No. 000087086-05-000028) 
 
  (j)  Amended & Restated Management Agreement dtd 9/30/05 -- Filed as Ex-99.D on 04/27/06 
    (Accession No. 0000009713-06-000042) 
 
  (k)  Amended & Restated Management Agreement dtd 1/4/07 -- Filed as Ex-99.D on 01/09/07 
    (Accession No. 0000898745-07-000006) 
 
  (l)  Amended & Restated Management Agreement dtd 10/31/07 -- Filed as Ex-99.(D)(1)(L) on 04/25/08 
    (Accession No. 0000950137-08-006048) 
 
  (m)  Amended & Restated Management Agreement dtd 9/9/08 -- Filed as Ex-99.D1M on 04/27/09 
    (Accession No. 0000898745-09-000217) 
 
(2)  (a)  Investment Service Agreement -- Filed as Ex-99.B5.B on 10/24/97 (Accession No. 0000915728-97- 
    000059) 
 
  (b)  Amended & Restated Investment Service Agreement dtd 4/1/04 -- Filed as Ex-99.D on 06/15/04 
    (Accession No. 0000870786-04-000104) 
 
(3)  (a)  Bernstein Sub-Advisory Agreement -- Filed as Ex-99.D.19 on 04/29/02 (Accession No. 
    0000870786-02-000084) 
 
  (b)  Amended & Restated Sub-Advisory Agreement — Bernstein dtd 7/1/04 -- Filed as Ex-99.D on 
    08/27/04 (Accession No. 0001127048-04-000101) 
 
(4)  (a)  Brown Investment Advisory Incorporated Sub-Advisory Agreement dtd 07/01/09* 
 
(5)  (a)  Columbus Circle Investors Sub-Advisory Agreement dtd 1/5/05 -- Filed as Ex-99.D on 04/29/05 
    (Accession No. 0000870786-05-000132) 
 
  (b)  Amended & Restated Sub-Advisory Agreement — CCI dtd 9/12/05 -- Filed as Ex-99.D on 10/24/06 
    (Accession No. 000012601-06-000029) 
 
  (c)  Amended & Restated Sub-Advisory Agreement — CCI dtd 12/15/06 -- Filed as Ex-99.D on 04/19/07 
    (Accession No. 0000898745-07-000045) 
 
(6)  (a)  Edge Asset Management, Inc. Sub-Advisory Agreement dtd 1/4/07 -- Filed as Ex-99.D on 01/09/07 
    (Accession No. 0000898745-07-000006) 
 
(7)  (a)  Emerald Sub-Advisory Agreement dtd 9/1/04 -- Filed as Ex-99.D on 02/24/05 (Accession No. 
    000087086-05-000028) 
 
(8)  (a)  Essex Sub-Advisory Agreement dtd 6/30/06 -- Filed as Ex-99.D on 10/24/06 (Accession No. 
    000012601-06-000029) 
 
(9)  (a)  JP Morgan Sub-Advisory Agreement -- Filed as Ex-99.B5.H on 04/17/98 (Accession No. 
    0000012601-98-000009) 
 
  (b)  Amended & Restated Sub-Advisory Agreement — JP Morgan dtd 7/2/03 -- Filed as Ex-99.D on 
    02/24/05 (Accession No. 000087086-05-000028) 
 
  (c)  Amended & Restated Sub-Advisory Agreement — JP Morgan dtd 1/5/05 -- Filed as Ex-99.D on 
    02/24/05 (Accession No. 000087086-05-000028) 
 
(10)  (a)  Jacobs Levy Sub-Advisory Agreement dtd 6/15/06 -- Filed as Ex-99.D on 10/24/06 (Accession No. 
    000012601-06-000029) 
 
(11)  (a)  Dreyfus Corp. Sub-Advisory Agreement -- Filed as Ex-99.B5.F on 04/17/98 (Accession No. 
    0000012601-98-000009) 

  (b)  Amended & Restated Sub-Adv. — Dreyfus dtd 11/25/03 Filed as Ex-99.D on 02/26/04 (Accession 
    No. 0000870786-04-000042) 
 
  (c)  Amended & Restated Sub-Advisory Agreement — The Dreyfus Group dtd 7/1/04 Filed as Ex-99.D 
    on 02/24/05 (Accession No. 000087086-05-000028) 
 
  (d)  Amended & Restated Sub-Advisory Agreement — Mellon Equity dtd 12/22/04 Filed as Ex-99.D on 
    02/24/05 (Accession No. 000087086-05-000028) 
 
  (e)  Amended & Restated Sub-Advisory Agreement — Mellon Equity dtd 08/08/2005 Filed as Ex-99.D57 
    on 04/27/06 (Accession No. 0000009713-06-000042) 
 
  (f)  Amended & Restated Sub-Advisory Agreement — Mellon Equity dtd 01/01/08 Filed as Ex-99.(5)(F) 
    on 02/29/08 (Accession No. 0000950137-08-003049) 
 
(12)  (a)  Morgan Stanley Asset Mgmt. Sub-Advisory Agreement Filed as Ex-99.B5.D on 10/24/97 (Accession 
    No. 0000915728-97-000059) 
 
  (b)  Amended & Restated Sub-Advisory Agreement — MSAM dtd 6/30/04 Filed as Ex-99.D on 08/27/04 
    (Accession No. 0001127048-04-000101) 
 
  (c)  Amended & Restated Sub-Advisory Agreement — Morgan Stanley dtd 11/25/03 -- Filed as Ex-99.D 
    on 02/24/05 (Accession No. 000087086-05-000028) 
 
  (d)  Amended & Restated Sub-Advisory Agreement — Morgan Stanley dtd 8/23/04 -- Filed as Ex-99.D 
    on 02/24/05 (Accession No. 000087086-05-000028) 
 
(13)  (a)  Invista Sub-Advisory Agreement -- Filed as Ex-99.B5.C on 10/24/97 (Accession No. 0000915728- 
    97-000059) 
 
  (b)  First Amendment to Sub-Advisory Agrmt. -- Filed as Ex-99.B5.A1 on 02/13/98 (Accession No. 
    0000012601-98-000001) 
 
  (c)  Second Amendment to Sub-Advisory Agrmt. -- Filed as Ex-99.D.8 on 10/24/00 (Accession No. 
    0000012601-00-500016) 
 
  (d)  Third Amendment to Sub-Advisory Agrmt. -- Filed as Ex-99.D.9 on 10/24/00 (Accession No. 
    0000012601-00-500016) 
 
  (e)  6th Amdt. to Sub-Adv. Agreement w/Invista -- -- Filed as Ex-99.D.21 on 04/29/02 (Accession No. 
    0000870786-02-000084) 
 
  (f)  Amended & Restated Sub-Adv — PGI dtd 4/1/04 -- Filed as Ex-99.D on 06/15/04 (Accession No. 
    0000870786-04-000104) 
 
  (g)  Amended & Restated Sub-Advisory Agreement — PGI dtd 6/30/04 Filed as Ex-99.D on 08/27/04 
    (Accession No. 0001127048-04-000101) 
 
  (h)  Amended & Restated Sub-Advisory Agreement — PGI dtd 3/11/03 -- Filed as Ex-99.D on 02/24/05 
    (Accession No. 000087086-05-000028) 
 
  (i)  Amended & Restated Sub-Advisory Agreement — PGI dtd 12/13/04 -- Filed as Ex-99.D on 02/24/05 
    (Accession No. 000087086-05-000028) 
 
  (j)  Amended & Restated Sub-Advisory Agreement — PGI dtd 07/01/2005 -- Filed as Ex-99.D58 on 
    04/27/06 (Accession No. 0000009713-06-000042) 
 
  (k)  Amended & Restated Sub-Advisory Agreement — PGI dtd 09/12/2005 -- Filed as Ex-99.D59 on 
    04/27/06 (Accession No. 0000009713-06-000042) 
 
(14)  (a)  PREI Sub-Advisory Agreement dtd 07/01/2005 -- Filed as Ex-99.D60 on 04/27/06 (Accession No. 
    0000009713-06-000042) 
 
  (b)  PREI Sub-Sub-Advisory Agreement dtd 07/01/2005 -- Filed as Ex-99.D63 on 04/27/06 (Accession 
    No. 0000009713-06-000042) 

    (c)  Amended & Restated Sub-Advisory Agreement — PREI dtd 09/12/2005 -- Filed as Ex-99.D61 on 
      04/27/06 (Accession No. 0000009713-06-000042) 
    (d)  Amended & Restated Sub-Advisory Agreement — PREI dtd 1/1/06 -- Filed as Ex-99.D on 10/24/06 
      (Accession No. 000012601-06-000029) 
  (15)  (a)  Spectrum Sub-Sub-Advisory Agreement dtd 07/01/2005 Filed as Ex-99.D64 on 04/27/06 (Accession 
      No. 0000009713-06-000042) 
  (16)  (a)  T. Rowe PriceSub-Advisory Agreement dtd 3/8/04 -- Filed as Ex-99.D on 06/15/04 (Accession No. 
      0000870786-04-000104) 
    (b)  Amended & Restated Sub-Advisory Agreement — T. Rowe Price dtd 8/24/04 -- Filed as Ex-99.D on 
      08/27/04 (Accession No. 0001127048-04-000101) 
    (c)  Amended & Restated Sub-Advisory Agreement - TRowe Price dtd 8/01/2005 -- Filed as Ex-99.D56 
      on 04/27/06 (Accession No. 0000009713-06-000042) 
    (d)  Amended & Restated Sub-Advisory Agreement — T. Rowe Price dtd 8/1/06 -- Filed as Ex-99.D on 
      10/24/06 (Accession No. 000012601-06-000029) 
    (e)  Amended & Restated Sub-Advisory Agreement — T. Rowe Price dtd 9/15/06 -- Filed as Ex-99.D on 
      10/24/06 (Accession No. 000012601-06-000029) 
  (17)  (a)  Westwood Sub-Advisory Agreement dtd 07/15/08 -- Filed as Ex-99.D19A on 04/27/09 (Accession 
      No. 0000898745-09-000217) 
(e)  Distribution Agreement -- Filed as Ex-99.E on 10/24/00 (Accession No. 0000012601-00-500016) 
  (1)  Amended & Restated Distribution Agreement dtd 6/14/04 -- Filed as Ex-99.E on 08/27/04 (Accession No. 
    0001127048-04-000101) 
  (2)  Distribution Agreement dtd 1/12/07 -- Filed as Ex-99.(E)(2) on 02/29/08 (Accession No. 0000950137-08- 
    003049) 
(f)  N/A     
(g)  Custodian Agreement 
  (1)  Domestic and Global Custodian Agreement with Bank of New York -- Filed as Ex-99.(G)(1) on 04/25/08 
    (Accession No. 0000950137-08-006048) 
(h)  (1)  Agreement and Plan of Reorganization and Liquidation -- Filed as Ex-99.B9 on 10/24/97 (Accession No. 
    0000915728-97-000059) 
  (2)  Transfer Agency Agreement dated 9/9/08 -- Filed as Ex-99.H2 on 04/27/09 (Accession No. 0000898745- 
    09-000217) 
  (3)  Capital Support Agreement dated 9/22/08 -- Filed as Ex-99.H3 on 04/27/09 (Accession No. 0000898745- 
    09-000217) 
  (4)  Contractual Fee Waiver Agreement dated 4/29/08 -- Filed as Ex-99.H4 on 04/27/09 (Accession No. 
    0000898745-09-000217) 
(i)  Legal Opinion -- Filed as Ex-99.I on 10/24/00 (Accession No. 0000012601-00-500016) 
(j)  (1)  Consent of Independent Auditors * 
  (2)  Rule 485(b) opinion* 
  (3)  Powers of Attorney -- Filed as Ex-99.(J)(3) on 04/25/08 (Accession No. 0000950137-08-006048) 
(k)  Omitted Financial Statements N/A 

(l)  Initial Capital Agreements 
  (1-11)    Initial Capital Agreements 1987 -- Filed as Ex-99.L on 04/27/01 (Accession No. 0000012601-01- 
      500015) 
  (12-19)  Initial Capital Agreements 1998 -- Filed as Ex-99.L on 04/27/01 (Accession No. 0000012601-01- 
      500015) 
  (20-23)  Initial Capital Agreements 1999 -- Filed as Ex-99.L on 04/27/01 (Accession No. 0000012601-01- 
      500015) 
  (24-26)  Initial Capital Agreements 2000 -- Filed as Ex-99.L on 04/27/01 (Accession No. 0000012601-01- 
      500015) 
  (27)    Initial Capital Agreements 5/1/2003 -- Filed as Ex-99.L on 02/26/04 (Accession No. 0000870786-04- 
      000042) 
  (28)    Initial Capital Agreements 8/30/2004 -- Filed as Ex-99.L on 02/24/05 (Accession No. 000087086-05- 
      000028) 
  (29)    Initial Capital Agreement 1/5/07 -- Filed as Ex-99.(L)(29) on 02/29/08 (Accession No. 0000950137-08- 
      003049) 
(m)  Rule 12b-1 Plan 
  (1)  Class 2 Plan -- Filed as Ex-99.M (1) on 06/26/09 (Accession No. 0000898745-09-000330) 
(n)  Rule 18f-3 Plan –Filed as Ex-99.N on 06/26/09 (Accession No. 0000898745-09-000330) 
(o)  Reserved   
(p)  Codes of Ethics 
  (1)  AllianceBernstein Code of Ethics -- Filed as Ex-99.(P)(1) on 02/29/08 (Accession No. 0000950137-08- 
    003049); Filed as Ex-99.P on 02/24/05 (Accession No. 000087086-05-000028) 
  (2)  Brown Investment Advisory Incorporated Code of Ethics * 
  (3)  Columbus Circle Investors Code of Ethics -- Filed as Ex-99.D on 10/24/06 (Accession No. 000012601-06- 
    000029); Filed as Ex-99.P22 on 04/27/06 (Accession No. 0000009713-06-000042) 
  (4)  Edge Asset Management Code of Ethics -- Filed as Ex-99.(P)(4) on 02/29/08 (Accession No. 
    0000950137-08-003049) 
  (5)  Emerald Code of Ethics -- Filed as Ex-99.P on 02/24/05 (Accession No. 000087086-05-000028) 
  (6)  Essex Code of Ethics -- Filed as Ex-99.(P)(6) on 02/29/08 (Accession No. 0000950137-08-003049) 
  (7)  JP Morgan Code of Ethics -- Filed as Ex-99.(P)(7) on 02/29/08 (Accession No. 0000950137-08-003049); 
    Filed as Ex-99.P on 02/24/05 (Accession No. 000087086-05-000028) 
  (8)  Jacobs Levy Code of Ethics -- Filed as Ex-99.(P)(8) on 02/29/08 (Accession No. 0000950137-08-003049) 
  (9)  Mellon Code of Ethics -- Filed as Ex-99.P on 04/19/07 (Accession No. 0000898745-07-000045)* 
  (10)  Morgan Stanley Investment Management Code of Ethics -- Filed as Ex-99.P on 02/24/05 (Accession No. 
    000087086-05-000028); Filed as Ex-99.P on 10/24/06 (Accession No. 000012601-06-000029); Filed as 
    Ex-99.P on 04/19/07 (Accession No. 0000898745-07-000045) 
  (11)  Principal Global Investors/Principal Real Estate Investors Code of Ethics -- Filed as Ex-99.P on 04/19/07 
    (Accession No. 0000898745-07-000045) 
  (12)  Principal Fund Entities Code of Ethics (Principal Investors Fund, Principal Variable Contracts Fund, 
    Principal Management Corporation Principal Financial Advisors, Princor Financial Services Corporation, 
    Principal Funds Distributor) Filed as Ex-99.P13 on 04/27/09 (Accession No. 0000898745-09-000217)* 

             (13)  Sr. & Executive Officers Code of Ethics (Sarbanes) -- Filed as Ex-99.P on 12/31/03 (Accession No. 
  000087086-03-000210) 
 
             (14)  Spectrum Code of Ethics -- Filed as Ex-99.(P)(15) on 02/29/08 (Accession No. 0000950137-08-003049) 
 
             (15)  T. Rowe Price Code of Ethics -- Filed as Ex-99.P on 02/24/05 (Accession No. 000087086-05-000028) 
 
             (16)  Westwood Code of Ethics -- Filed as Ex-99.P18 on 04/27/09 (Accession No. 0000898745-09-000217) 
 
 
             *  Filed herein. 
             **  To be filed by amendment. 
 
Item 24. Persons Controlled by or Under Common Control with Registrant 
 
                   The Registrant does not control and is not under common control with any person. 
 
Item 25. Indemnification 
 
                   Under Section 2-418 of the Maryland General Corporation Law, with respect to any proceedings against a present 
or former director, officer, agent or employee (a "corporate representative") of the Registrant, the Registrant may indemnify 
the corporate representative against judgments, fines, penalties, and amounts paid in settlement, and against expenses, 
including attorneys' fees, if such expenses were actually incurred by the corporate representative in connection with the 
proceeding, unless it is established that: 
 
                   (i)     The act or omission of the corporate representative was material to the matter giving rise to the proceeding; and  
     1. Was committed in bad faith; or 
     2. Was the result of active and deliberate dishonesty; or 
 
                   (ii)  The corporate representative actually received an improper personal benefit in money, property, or services; or 
 
                   (iii)  In the case of any criminal proceeding, the corporate representative had reasonable cause to believe that the 
act or omission was unlawful. 
 
                   If a proceeding is brought by or on behalf of the Registrant, however, the Registrant may not indemnify a corporate 
representative who has been adjudged to be liable to the Registrant. Under the Registrant's Articles of Incorporation and 
Bylaws, directors and officers of Registrant are entitled to indemnification by the Registrant to the fullest extent permitted 
under Maryland law and the Investment Company Act of 1940. Reference is made to Article VI, Section 7 of the Registrant's 
Articles of Incorporation, Article 12 of Registrant's Bylaws and Section 2-418 of the Maryland General Corporation Law. 
 
                   The Registrant has agreed to indemnify, defend and hold the Distributors, their officers and directors, and any person 
who controls the Distributors within the meaning of Section 15 of the Securities Act of 1933, free and harmless from and 
against any and all claims, demands, liabilities and expenses (including the cost of investigating or defending such claims, 
demands or liabilities and any counsel fees incurred in connection therewith) which the Distributors, their officers, directors or 
any such controlling person may incur under the Securities Act of 1933, or under common law or otherwise, arising out of or 
based upon any untrue statement of a material fact contained in the Registrant's registration statement or prospectus or 
arising out of or based upon any alleged omission to state a material fact required to be stated in either thereof or necessary 
to make the statements in either thereof not misleading, except insofar as such claims, demands, liabilities or expenses arise 
out of or are based upon any such untrue statement or omission made in conformity with information furnished in writing by 
the Distributors to the Registrant for use in the Registrant's registration statement or prospectus: provided, however, that this 
indemnity agreement, to the extent that it might require indemnity of any person who is also an officer or director of the 
Registrant or who controls the Registrant within the meaning of Section 15 of the Securities Act of 1933, shall not inure to the 
benefit of such officer, director or controlling person unless a court of competent jurisdiction shall determine, or it shall have 
been determined by controlling precedent that such result would not be against public policy as expressed in the Securities 
Act of 1933, and further provided, that in no event shall anything contained herein be so construed as to protect the 
Distributors against any liability to the Registrant or to its security holders to which the Distributors would otherwise be subject 
by reason of willful misfeasance, bad faith, or gross negligence, in the performance of their duties, or by reason of their 
reckless disregard of their obligations under this Agreement. The Registrant's agreement to indemnify the Distributors, their 
officers and directors and any such controlling person as aforesaid is expressly conditioned upon the Registrant being 
promptly notified of any action brought against the Distributors, their officers or directors, or any such controlling person, such 
notification to be given by letter or telegram addressed to the Registrant. 

     Insofar as indemnification for liabilities arising under the Securities Act of 1933 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 26. Business or Other Connection of Investment Adviser

     Principal Management Corporation ("PMC") serves as investment adviser and administrator for Principal Variable Contracts Funds, Inc. ("PVC") and Principal Funds, Inc. ("Principal Funds"). PVC and Principal Funds are funds sponsored by Principal Life Insurance Company.

     A complete list of the officers and directors of the investment adviser, Principal Management Corporation, are set out below. This list includes some of the same people (designated by an *), who serve as officers and directors of the Registrant. For these people the information as set out in the Statement of Additional Information (See Part B) under the caption "Directors and Officers of the Fund" is incorporated by reference.

NAME &  COMPANY &   
OFFICE WITH  PRINCIPAL   
INVESTMENT  BUSINESS  NATURE OF 
ADVISER  ADDRESS  RELATIONSHIP 
Michael C. Anagnost  Principal Life  Director - IT 
Vice President-  Insurance Company(1)   
Chief Technology Officer     
 
John E. Aschenbrenner  Principal Life  President, Insurance & 
Director  Insurance Company (1)  Financial Services 
 
Patricia A. Barry  Principal Life  Counsel 
Assistant Corporate Secretary  Insurance Company (1)   
 
*Craig L. Bassett  Principal Life  See Part B 
Treasurer  Insurance Company (1)   
 
*Michael J. Beer  Principal Life  See Part B 
Executive Vice President/  Insurance Company (1)   
Chief Operating Officer, Director     
 
Tracy W. Bollin  Principal Funds Distributor, Inc. (2)  Financial Controller 
Financial Controller  and Princor Financial   
  Services Corporation (1)   
 
*David J. Brown  Principal Life  See Part B 
Senior Vice President  Insurance Company (1)   
 
*Jill R. Brown  Principal Funds  See Part B 
Senior Vice President/  Distributor, Inc.(2)   
Chief Financial Officer     
 
David P. Desing  Principal Life  Assistant Treasurer 
Assistant Treasurer  Insurance Company (1)   
 
*Ralph C. Eucher  Principal Life  See Part B 
Director  Insurance Company (1)   
 
*Nora M. Everett  Principal Life  See Part B 
President and Director  Insurance Company (1)   
 
James W. Fennessey  Principal  Head of Investment Manager Research 
Vice President  Financial Advisors, Inc.(1)   

Michael P. Finnegan  Principal Life  Chief Vice President - 
Senior Vice President -  Insurance Company (1)  Investment Officer 
Investment Services     
 
Louis E. Flori  Principal Life  Vice President – Capital Markets 
Vice President – Capital Markets  Insurance Company (1)   
 
*Stephen G. Gallaher  Principal Life  See Part B 
Assistant General Counsel  Insurance Company (1)   
 
*Ernest H. Gillum  Principal Life  See Part B 
Vice President and Chief  Insurance Company (1)   
Compliance Officer     
 
Eric W. Hays  Principal Life  Assistant Vice President – IT 
Senior Vice President –  Insurance Company (1)   
Chief Information Officer     
 
Joyce N. Hoffman  Principal Life  Senior Vice President and 
Senior Vice President and  Insurance Company (1)  Corporate Secretary 
Corporate Secretary     
 
*Patrick A. Kirchner  Principal Life  See Part B 
Assistant General Counsel  Insurance Company (1)   
 
Deanna L. Mankle  Principal Life  Assistant Treasurer 
Assistant Treasurer  Insurance Company (1)   
 
Jennifer A. Mills  Principal Life  Attorney 
Counsel  Insurance Company   
 
Mariateresa Monaco  Principal Life  Portfolio Manager 
Vice President/Portfolio Management  Insurance Company   
 
*Layne A. Rasmussen  Principal Life  See Part B 
Vice President and  Insurance Company (1)   
Controller - Principal Funds     
 
David L. Reichart  Princor  Head of Business Development 
Senior Vice President  Financial Services   
  Corporation(1)   
 
*Michael D. Roughton  Principal Life  See Part B 
Senior Vice President and  Insurance Company (1)   
Senior Securities Counsel     
 
*Adam U. Shaikh  Principal Life  See Part B 
Counsel  Insurance Company (1)   
 
Mark A. Stark  Principal Life  Director 
Vice President -  Insurance Company (1)  Investment Services 
Investment Services     
 
Randy L. Welch  Principal Life  Director 
Vice President -  Insurance Company (1)  Investment Services 
Investment Services     
 
*Dan L. Westholm  Principal Life  See Part B 
Director - Treasury  Insurance Company (1)   
 
*Beth C. Wilson  Principal Life  See Part B 
Vice President  Insurance Company (1)   
 
Larry D. Zimpleman  Principal Life  President and Chief Executive 
Chairman of the Board  Insurance Company (1)  Officer 

(1)      711 High Street Des Moines, IA 50309
(2)      1100 Investment Boulevard, Ste 200 El Dorado Hills, CA 95762

Item 27.

Principal Underwriters

(a)      Principal Funds Distributor, Inc. ("PFD") act as principal underwriter for Principal Funds, Inc. and Principal Variable Contracts Funds, Inc. PFD also serves as the principal underwriter for certain variable contracts issued by Farmers New World Life Insurance Company through Farmers Variable Life Separate Account A. PFD also serves as the principal underwriter for certain variable contracts issued by AIG SunAmerica Life Assurance Company and First SunAmerica Life Insurance Company, through their respective separate accounts.
(1)  (2)  (3) 
  Positions and offices   
Name and principal  with principal  Positions and Offices 
business address  underwriter (PFD)  with the Fund 
Lindsay L. Amadeo  Director - Marketing  None 
The Principal  Communications   
Financial Group(1)     
 
Michael C. Anagnost  Vice President -  None 
The Principal  Chief Technology Officer   
Financial Group(1)     
 
Phillip J. Barbaria  Chief Compliance Officer  None 
Principal Funds     
Distributor, Inc. (1)     
 
Patricia A. Barry  Assistant Corporate  None 
The Principal  Secretary   
Financial Group(1)     
 
Craig L. Bassett  Treasurer  Treasurer 
The Principal     
Financial Group(1)     
 
Michael J. Beer  Executive Vice President  Executive Vice President 
The Principal     
Financial Group(1)     
 
Lisa Bertholf  Director - Marketing  None 
The Principal     
Financial Group(1)     
 
 
Tracy W. Bollin  Assistant Controller  None 
The Principal     
Financial Group(1)     
 
David J. Brown  Senior Vice President  Chief Compliance Officer 
The Principal     
Financial Group(1)     
 
Jill R. Brown  Director  Senior Vice President 
The Principal  Senior Vice President and   
Financial Group(1)  Chief Financial Officer   
 
Bret J. Bussanmas  Vice President -  None 
The Principal  Distribution   
Financial Group(1)     
 
P. Scott Cawley  Product Marketing Officer  None 

The Principal     
Financial Group(1)     
 
Ralph C. Eucher  Chairman of the Board  Chairman of the Board and 
The Principal    Chief Executive Officer 
Financial Group(1)     
 
Nora M. Everett  Director  President and Director 
The Principal     
Financial Group (1)     
 
Cary Fuchs  President  Senior Vice President of Distribution 
Principal Funds     
Distributor, Inc.(2)     
 
Stephen G. Gallaher  Assistant General Counsel  Assistant Counsel 
The Principal     
Financial Group(1)     
 
Eric W. Hays  Senior Vice President and  None 
The Principal  Chief Information Officer   
Financial Group(1)     
 
Tim Hill  Vice President - Distribution  None 
Principal Funds     
Distributor, Inc.(1)     
 
Joyce N. Hoffman  Senior Vice President and  None 
The Principal  Corporate Secretary   
Financial Group(1)     
 
Daniel J. Houston  Director  None 
The Principal     
Financial Group(1)     
 
Jennifer A. Mills  Counsel  None 
The Principal     
Financial Group (1)     
 
Timothy J. Minard  Director  None 
The Principal     
Financial Group(1)     
 
Kevin J. Morris  Director - Marketing  None 
Principal Funds     
Distributor, Inc.(1)     
 
 
David L. Reichart  Senior Vice  None 
The Principal  President/Distribution   
Financial Group(1)     
 
Michael D. Roughton  Senior Vice President/Counsel  Counsel 
The Principal     
Financial Group(1)     
 
Paul Schieber  Regional Vice President  None 
The Principal     
Financial Group (1)     
 
Adam U. Shaikh  Counsel  Assistant Counsel 
The Principal     
Financial Group(1)     
 
Mark A. Stark  Vice President – Investor Services None 
The Principal
Financial Group(1)

  (1)  1100 Investment Boulevard, Ste 200 
    El Dorado Hills, CA 95762-5710 
(c) N/A.     
 
Item 28. Location of Accounts and Records 

     All accounts, books or other documents of the Registrant are located at the offices of the Registrant and its Investment Adviser in the Principal Life Insurance Company home office building, The Principal Financial Group, Des Moines, Iowa 50392.

Item 29. Management Services 
N/A.
Item 30. Undertakings 
N/A.

  SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant has duly caused this Amendment to the Registration Statement to be signed on its behalf by the undersigned, duly authorized in the City of Des Moines and State of Iowa, on the 20th day of August, 2009.

  Principal Variable Contracts Funds, Inc.

  (Registrant)

  /s/ R. C. Eucher

______________________________________
R. C. Eucher
Chairman of the Board and
Chief Executive Officer

Attest:

/s/ Beth Wilson
______________________________________
Beth Wilson
Vice President and Secretary

Pursuant to the requirements of the Securities Act of 1933, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

                       Signature  Title           Date 
 
/s/ R. C. Eucher     
  Chairman of the Board  August 20, 2009 
R. C. Eucher  and Chief Executive Officer   
  (Principal Executive Officer)   
 
/s/ L. A. Rasmussen     
  Vice President, Controller  August 20, 2009 
L. A. Rasmussen  and Chief Financial Officer   
  (Principal Financial   
  Officer and Controller)   
 
/s/ N. M. Everett     
  President and Director  August 20, 2009 
N. M. Everett     
 
/s/ M. J. Beer     
  Executive Vice President  August 20, 2009 
M. J. Beer     
 
(E. Ballantine)*     
  Director  August 20, 2009 
E. Ballantine     
 
(K. Blake)*     
  Director  August 20, 2009 
K. Blake     
 
(C. Damos)*     
  Director  August 20, 2009 
C. Damos     
 
(R. W. Gilbert)*     
  Director  August 20, 2009 
R. W. Gilbert     
 
(M. A. Grimmett)*     
  Director  August 20, 2009 
M. A. Grimmett     
 
(F. S. Hirsch)*     
  Director  August 20, 2009 
F. S. Hirsch     
 
(W. C. Kimball)*     
  Director  August 20, 2009 
W. C. Kimball     
 
(B. A. Lukavsky)*     
  Director  August 20, 2009 
B. A. Lukavsky     
 
(W. G. Papesh)*     
  Director  August 20, 2009 
W. G. Papesh     
 
(D. Pavelich)*     
  Director  August 20, 2009 
D. Pavelich     
 
                                         /s/ M. J. Beer   
                                 *By   
                                         M. J. Beer   
                                         Executive Vice President 
 
                                         * Pursuant to Powers of Attorney 
                                             Previously filed on April 25, 2008