497 1 d497.txt 497 SUPPLEMENT DATED APRIL 10, 2008 TO PROSPECTUS DATED MAY 1, 2007 FOR FLEXIBLE PREMIUM VARIABLE DEFERRED ANNUITY CONTRACTS ISSUED BY GENWORTH LIFE AND ANNUITY INSURANCE COMPANY THROUGH ITS GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1 This supplement updates certain information contained in your prospectus. Please read it and keep it with your prospectus for future reference. On March 18, 2008, the Board of Trustees (the "Board") for the XTF Advisors Trust (the "Trust") voted to liquidate the ETF 60 Portfolio (the "Portfolio"). The Board concluded that the Portfolio should cease operations due to its relatively small asset size and insufficient evidence of future asset growth opportunities. In accordance with the Board's decision to terminate operations, beginning on May 1, 2008, the Portfolio will no longer accept any purchase orders in anticipation of a final liquidation of the Portfolio on June 20, 2008. Assets held by the Separate Account invested in the Portfolio will be transferred at the close of trading on the New York Stock Exchange on June 20, 2008, to the GE Investments Funds, Inc. -- Money Market Fund. You may make transfers from the Portfolio to one or more of the Subaccounts investing in the Portfolios listed below. Please note, however, that the Portfolio is also part of the Investment Strategy for certain of the living benefit rider options. The benefits a contract owner receives under these living benefit riders may be reduced if, after the transfer, the owner's assets are not allocated in accordance with the prescribed Investment Strategy for the rider. Contract owners that own Lifetime Income Plus 2008 must always allocate assets in accordance with the Investment Strategy. The current Investment Strategy for the living benefit riders (excluding the ETF 60 Portfolio) is also provided below. Transfers made from the Portfolio during the period of April 10, 2008 to June 20, 2008 will not be considered a transfer for the purpose of calculating the number of transfers that may be made each calendar year without invoking our right to assess a transfer charge or for purposes of calculating the number of transfers that can be made each calendar year by U.S. Mail, voice response, telephone or facsimile. 19773 SUPPD 04/10/08 Subaccounts:
Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ---------------------------------------------------------------------------------------- AIM VARIABLE AIM V.I. Basic Value Fund -- Seeks to provide A I M Advisors, Inc. INSURANCE FUNDS Series II shares long-term growth of capital. ---------------------------------------------------------------------------------------- AIM V.I. Capital Appreciation Seeks to provide A I M Advisors, Inc. Fund -- Series I shares growth of capital. ---------------------------------------------------------------------------------------- AIM V.I. Core Equity Fund -- Seeks to provide A I M Advisors, Inc. Series I shares growth of capital. ---------------------------------------------------------------------------------------- ` AIM V.I. International Growth Seeks to provide A I M Advisors, Inc. Fund -- Class II shares long-term growth of capital. ---------------------------------------------------------------------------------------- ALLIANCEBERNSTEIN AllianceBernstein Balanced Seeks to maximize AllianceBernstein, L.P. VARIABLE PRODUCTS Wealth Strategy Portfolio -- total return consistent SERIES FUND, INC. Class B with the adviser's determination of reasonable risk ---------------------------------------------------------------------------------------- AllianceBernstein Global Long-term growth of AllianceBernstein, L.P. Technology Portfolio -- Class B capital. ---------------------------------------------------------------------------------------- AllianceBernstein Growth Long-term growth of AllianceBernstein, L.P. and Income Portfolio -- Class B capital. ---------------------------------------------------------------------------------------- AllianceBernstein International Long-term growth of AllianceBernstein, L.P. Value Portfolio -- Class B capital. ---------------------------------------------------------------------------------------- AllianceBernstein Large Cap Long-term growth of AllianceBernstein, L.P. Growth Portfolio -- Class B capital. ---------------------------------------------------------------------------------------- AllianceBernstein Small Cap Long-term growth of AllianceBernstein, L.P. Growth Portfolio -- Class B capital. ---------------------------------------------------------------------------------------- AMERICAN CENTURY VP Inflation Protection Fund -- Pursues long-term American Century Investment VARIABLE PORTFOLIOS II, Class II total return using a Management, Inc. INC. strategy that seeks to protect against U.S. inflation. ---------------------------------------------------------------------------------------- BLACKROCK VARIABLE BlackRock Basic Value V.I. Fund Seeks capital BlackRock Advisors, LLC SERIES FUNDS, INC. -- Class III appreciation and, (subadvised by BlackRock secondarily, income. Investment Management, LLC) ---------------------------------------------------------------------------------------- BlackRock Global Allocation V.I. Seeks high total BlackRock Advisors, LLC Fund -- Class III investment return. (subadvised by BlackRock Investment Management, LLC and BlackRock Asset Management U.K. Limited) ---------------------------------------------------------------------------------------- BlackRock Large Cap Growth V.I. Seeks long-term BlackRock Advisors, LLC Fund -- Class III capital growth. (subadvised by BlackRock Investment Management, LLC) ---------------------------------------------------------------------------------------- BlackRock Value Opportunities Seeks long-term BlackRock Advisors, LLC V.I. Fund -- Class III capital growth. (subadvised by BlackRock Investment Management, LLC) ---------------------------------------------------------------------------------------- COLUMBIA FUNDS Columbia Marsico Growth Fund, The fund seeks long- Columbia Management VARIABLE INSURANCE Variable Series -- Class A term growth of Advisors, LLC (subadvised by TRUST I capital. Marsico Capital Management, LLC) ---------------------------------------------------------------------------------------- Columbia Marsico International The fund seeks long- Columbia Management Advisors, Opportunities Fund, Variable term growth of LLC (subadvised by Marsico Series -- Class B capital. Capital Management, LLC) ----------------------------------------------------------------------------------------
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Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) -------------------------------------------------------------------------------------------- EATON VANCE VT Floating-Rate Income Fund To provide a high Eaton Vance Management VARIABLE TRUST level of current income. -------------------------------------------------------------------------------------------- VT Worldwide Health Sciences Seeks long-term OrbiMed Advisors LLC Fund capital growth by investing in a worldwide and diversified portfolio of health sciences companies. -------------------------------------------------------------------------------------------- EVERGREEN VARIABLE Evergreen VA Omega Fund -- Seeks long-term Evergreen Investment Management ANNUITY TRUST Class 2 capital growth. Company, LLC -------------------------------------------------------------------------------------------- FEDERATED INSURANCE Federated High Income Bond Seeks high current Federated Investment Management SERIES Fund II -- Service Shares income by investing in Company lower-rated corporate debt obligations commonly referred to as "junk bonds." -------------------------------------------------------------------------------------------- Federated Kaufmann Fund II -- Seeks capital Federated Equity Management Service Shares appreciation. Company of Pennsylvania (subadvised by Federated Global Investment Management Corp.) -------------------------------------------------------------------------------------------- FIDELITY(R) VARIABLE VIP Balanced Portfolio -- Service Seeks income and Fidelity Management & Research INSURANCE PRODUCTS Class 2 capital growth Company (FMR) (subadvised by FUND consistent with Fidelity Investments Money reasonable risk. Management, Inc. (FIMM), FMR Co., Inc. (FMRC), Fidelity Research & Analysis Company (FRAC), Fidelity Management & Research (U.K.) Inc. (FMR U.K.), Fidelity International Investment Advisors (FIAA), Fidelity International Investment Advisors (U.K.) Limited (FIAA(U.K.)L), and Fidelity Investments Japan Limited (FIJ)) -------------------------------------------------------------------------------------------- VIP Contrafund(R) Portfolio -- Seeks long-term FMR (subadvised by FMRC, Service Class 2 capital appreciation. FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) -------------------------------------------------------------------------------------------- VIP Dynamic Capital Seeks capital FMR (subadvised by FMRC, Appreciation Portfolio -- Service appreciation. FRAC, FMR U.K., FIIA, Class 2 FIIA(U.K.)L, and FIJ) -------------------------------------------------------------------------------------------- VIP Equity-Income Portfolio -- Seeks reasonable FMR (subadvised by FMRC, Service Class 2 income. The fund will FRAC, FMR U.K., FIIA, also consider the FIIA(U.K.)L, and FIJ) potential for capital appreciation. The fund's goal is to achieve a yield which exceeds the composite yield on the securities comprising the Standard & Poor's 500/SM/ Index (S&P 500(R)). --------------------------------------------------------------------------------------------
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Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ------------------------------------------------------------------------------------------ VIP Growth Portfolio -- Service Seeks to achieve FMR (subadvised by FMRC, Class 2 capital appreciation. FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------ VIP Growth & Income Portfolio Seeks high total FMR (subadvised by FMRC, -- Service Class 2 return through a FRAC, FMR U.K., FIIA, combination of FIIA(U.K.)L, and FIJ) current income and capital appreciation. ------------------------------------------------------------------------------------------ VIP Investment Grade Bond Seeks as high a level FMR (subadvised by FRAC, FIIA Portfolio -- Service Class 2 of current income as and FIIA(U.K.)L) is consistent with the preservation of capital. ------------------------------------------------------------------------------------------ VIP Mid Cap Portfolio -- Service Seeks long-term FMR (subadvised by FMRC, Class 2 growth of capital. FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------ VIP Value Strategies Portfolio -- Seeks capital FMR (subadvised by FMRC, Service Class 2 appreciation. FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------ FRANKLIN TEMPLETON Franklin Income Securities Fund Seeks to maximize Franklin Advisers, Inc. VARIABLE INSURANCE -- Class 2 Shares income while PRODUCTS TRUST maintaining prospects for capital appreciation. The fund normally invests in both equity and debt securities. The fund seeks income by investing in corporate, foreign and U.S. Treasury bonds as well as stocks with dividend yields the manager believes are attractive. ------------------------------------------------------------------------------------------ Franklin Templeton VIP Founding The fund's principal Franklin Templeton Services, LLC Funds Allocation Fund -- Class 2 investment goal is (the fund's administrator) Shares capital appreciation. Its secondary goal is income. ------------------------------------------------------------------------------------------ Mutual Shares Securities Fund -- Seeks capital Franklin Mutual Advisers, LLC Class 2 Shares appreciation, with income as a secondary goal. The fund normally invests primarily in equity securities of companies the manager believes are undervalued. The fund also invests, to a lesser extent in risk arbitrage securities and distressed companies. ------------------------------------------------------------------------------------------
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Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ------------------------------------------------------------------------------------ Templeton Growth Securities Seeks long-term Templeton Global Advisors Fund -- Class 2 Shares capital growth. The Limited fund normally invests primarily in equity securities of companies located anywhere in the world, including those in the U.S. and in emerging markets. ------------------------------------------------------------------------------------ GE INVESTMENTS Income Fund Seeks maximum GE Asset Management FUNDS, INC. income consistent Incorporated with prudent investment management and the preservation of capital. ------------------------------------------------------------------------------------ Mid-Cap Equity Fund Seeks long-term GE Asset Management growth of capital and Incorporated future income. ------------------------------------------------------------------------------------ Money Market Fund/1/ Seeks a high level of GE Asset Management current income Incorporated consistent with the preservation of capital and maintenance of liquidity. ------------------------------------------------------------------------------------ Premier Growth Equity Fund Seeks long-term GE Asset Management growth of capital and Incorporated future income rather than current income. ------------------------------------------------------------------------------------ Real Estate Securities Fund Seeks maximum total GE Asset Management return through current Incorporated (subadvised by income and capital Urdang Securities Management, appreciation. Inc.) ------------------------------------------------------------------------------------ S&P 500(R) Index Fund/2/ Seeks growth of GE Asset Management capital and Incorporated (subadvised by SSgA accumulation of Funds Management, Inc.) income that corresponds to the investment return of S&P's 500 Composite Stock Index. ------------------------------------------------------------------------------------ Small-Cap Equity Fund Seeks long-term GE Asset Management growth of capital. Incorporated (subadvised by Palisade Capital Management LLC) ------------------------------------------------------------------------------------
/1/ During extended periods of low interest rates, the yields of the Money Market Fund may become extremely low and possibly negative. /2/ "Standard & Poor's," "S&P," and "S&P 500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by GE Asset Management Incorporated. The S&P 500(R) Index Fund is not sponsored, endorsed, sold or promoted by Standard & Poor's, and Standard & Poor's makes no representation or warranty, express or implied, regarding the advisability of investing in this portfolio or the contract. 5
Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ------------------------------------------------------------------------------------------ Total Return Fund/1/ Seeks the highest total GE Asset Management return, composed of Incorporated current income and capital appreciation, as is consistent with prudent investment risk. ------------------------------------------------------------------------------------------ U.S. Equity Fund Seeks long-term GE Asset Management growth of capital. Incorporated ------------------------------------------------------------------------------------------ Value Equity Fund Seeks long-term GE Asset Management growth capital and Incorporated future income. ------------------------------------------------------------------------------------------ JANUS ASPEN SERIES Balanced Portfolio -- Service Seeks long-term Janus Capital Management LLC Shares capital growth, consistent with preservation of capital and balanced by current income. ------------------------------------------------------------------------------------------ Forty Portfolio -- Service Shares A non-diversified Janus Capital Management LLC portfolio/2/ that seeks long-term growth of capital. ------------------------------------------------------------------------------------------ LEGG MASON PARTNERS Legg Mason Partners Variable Seeks capital Legg Mason Partners Fund VARIABLE EQUITY Aggressive Growth Portfolio -- appreciation. Advisor, LLC (subadvised by TRUST/3/ Class II ClearBridge Advisors, LLC) ------------------------------------------------------------------------------------------ Legg Mason Partners Variable Seeks capital Legg Mason Partners Fund Fundamental Value Portfolio -- appreciation through Advisor, LLC (subadvised by Class I investments. ClearBridge Advisors, LLC) ------------------------------------------------------------------------------------------ MFS(R) VARIABLE MFS(R) Investors Growth Stock The fund's investment Massachusetts Financial Services INSURANCE TRUST Series -- Service Class Shares objective is to seek Company capital appreciation. The fund's objective may be changed without shareholder approval. ------------------------------------------------------------------------------------------
/1/ For contracts issued on or after May 1, 2006, only Class 3 Shares of the Total Return Fund are available. If your contract was issued prior to May 1, 2006, Class 1 Shares of the Total Return Fund are available. /2/ A non-diversified portfolio is a portfolio that may hold a larger position in a smaller number of securities than a diversified portfolio. This means that a single security's increase or decrease in value may have a greater impact on the return and net asset value of a non-diversified portfolio than a diversified portfolio. /3/ Legg Mason executed a reorganization of its fund operations effective April 28, 2007. As a result of this reorganization, the following transactions were effected: Legg Mason Partners Variable Portfolios II -- Legg Mason Partners Variable Aggressive Growth Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Aggressive Growth Portfolio; and Legg Mason Partners Variable Portfolios I, Inc. -- Legg Mason Partners Variable All Cap Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Fundamental Value Portfolio. 6
Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ------------------------------------------------------------------------------------------ MFS(R) Investors Trust Series -- The fund's investment Massachusetts Financial Services Service Class Shares objective is to seek Company capital appreciation. The fund's objective may be changed without shareholder approval. ------------------------------------------------------------------------------------------ MFS(R) Total Return Series -- The fund's investment Massachusetts Financial Services Service Class Shares objective is to seek Company total return. The fund's objective may be changed without shareholder approval. ------------------------------------------------------------------------------------------ MFS(R) Utilities Series -- The fund's investment Massachusetts Financial Services Service Class Shares objective is to seek Company total return. The fund's objective may be changed without shareholder approval. ------------------------------------------------------------------------------------------ OPPENHEIMER VARIABLE Oppenheimer Balanced Fund/VA Seeks a high total OppenheimerFunds, Inc. ACCOUNT FUNDS -- Service Shares investment return, which includes current income and capital appreciation in the values of its shares. ------------------------------------------------------------------------------------------ Oppenheimer Capital Appreciation Seeks capital OppenheimerFunds, Inc. Fund/VA -- Service Shares appreciation by investing in securities of well-known, established companies. ------------------------------------------------------------------------------------------ Oppenheimer Global Securities Seeks long-term capital OppenheimerFunds, Inc. Fund/VA -- Service Shares appreciation by investing a substantial portion of its assets in securities of foreign issuers, "growth type" companies, cyclical industries and special situations that are considered to have appreciation possibilities. ------------------------------------------------------------------------------------------ Oppenheimer Main Street Seeks high total OppenheimerFunds, Inc. Fund/VA -- Service Shares return (which includes growth in the value of its shares as well as current income) from equity and debt securities. ------------------------------------------------------------------------------------------ Oppenheimer Main Street Small Seeks capital OppenheimerFunds, Inc. Cap Fund/VA -- Service Shares appreciation ------------------------------------------------------------------------------------------ Oppenheimer MidCap Fund/VA Seeks capital OppenheimerFunds, Inc. -- Service Shares appreciation by investing in "growth type" companies. ------------------------------------------------------------------------------------------
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Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) --------------------------------------------------------------------------------------------- PIMCO VARIABLE All Asset Portfolio -- Advisor Seeks maximum real Pacific Investment Management INSURANCE TRUST Class Shares return consistent with Company LLC preservation of real capital and prudent investment management. --------------------------------------------------------------------------------------------- High Yield Portfolio -- Seeks to maximize Pacific Investment Management Administrative Class Shares total return, consistent Company LLC with preservation of capital and prudent investment management. Invests at least 80% of its assets in a diversified portfolio of high yield securities ("junk bonds") rated below investment grade but rated at least Caa by Moody's or CCC by S&P, or, if unrated, determined by PIMCO to be of comparable quality, subject to a maximum of 5% of its total assets in securities rated Caa by Moody's or CCC by S&P, or, if unrated, determined by PIMCO to be of comparable quality. --------------------------------------------------------------------------------------------- Long-Term U.S. Government Seeks maximum total Pacific Investment Management Portfolio -- Administrative Class return, consistent with Company LLC Shares preservation of capital and prudent investment management. --------------------------------------------------------------------------------------------- Low Duration Portfolio -- Seeks maximum total Pacific Investment Management Administrative Class Shares return, consistent with Company LLC preservation of capital and prudent investment management. --------------------------------------------------------------------------------------------- Total Return Portfolio -- Seeks maximum total Pacific Investment Management Administrative Class Shares return, consistent with Company LLC preservation of capital and prudent investment management. --------------------------------------------------------------------------------------------- THE PRUDENTIAL SERIES Jennison Portfolio -- Class II Seeks long-term Prudential Investments LLC FUND growth of capital. (subadvised by Jennison Associates LLC) --------------------------------------------------------------------------------------------- Jennison 20/20 Focus Portfolio -- Seeks long-term Prudential Investments LLC Class II growth of capital. (subadvised by Jennison Associates LLC) --------------------------------------------------------------------------------------------- Natural Resources Portfolio -- Seeks long-term Prudential Investments LLC Class II growth of capital. (subadvised by Jennison Associates LLC) ---------------------------------------------------------------------------------------------
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Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ----------------------------------------------------------------------------------- RYDEX VARIABLE TRUST OTC Fund/1/ Seeks to provide Rydex Investments investment results that correspond to a benchmark for over- the-counter securities. The portfolio's current benchmark is the NASDAQ 100 Index(TM). ----------------------------------------------------------------------------------- THE UNIVERSAL Equity and Income Portfolio -- Seeks both capital Morgan Stanley Investment INSTITUTIONAL FUNDS, Class II Shares appreciation and Management Inc. INC. current income. ----------------------------------------------------------------------------------- VAN KAMPEN LIFE Comstock Portfolio -- Class II Seeks capital growth Van Kampen Asset Management INVESTMENT TRUST Shares and income through investments in equity securities, including common stocks, preferred stocks and securities convertible into common and preferred stocks. -----------------------------------------------------------------------------------
/1/ The NASDAQ 100 Index(TM) is an unmanaged index that is a widely recognized indicator of OTC Market performance. The following Portfolios are not available to contracts issued on or after May 1, 2003:
Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) --------------------------------------------------------------------------------------- DREYFUS The Dreyfus Socially Responsible Seeks capital growth, The Dreyfus Corporation Growth Fund, Inc. -- with current income Initial Shares as a secondary goal. --------------------------------------------------------------------------------------- JANUS ASPEN SERIES Global Life Sciences Portfolio -- Seeks long-term Janus Capital Management LLC Service Shares growth of capital. --------------------------------------------------------------------------------------- Global Technology Portfolio -- Seeks long-term Janus Capital Management LLC Service Shares growth of capital. --------------------------------------------------------------------------------------- Large Cap Growth Portfolio -- Seeks long-term Janus Capital Management LLC Service Shares growth of capital in a manner consistent with the preservation of capital. --------------------------------------------------------------------------------------- Mid Cap Growth Portfolio -- Seeks long-term Janus Capital Management LLC Service Shares growth of capital. --------------------------------------------------------------------------------------- Worldwide Growth Portfolio -- Seeks long-term Janus Capital Management LLC Service Shares growth of capital in a manner consistent with preservation of capital. --------------------------------------------------------------------------------------- PIMCO VARIABLE Foreign Bond Portfolio (U.S. Seeks maximum total Pacific Investment Management INSURANCE TRUST Dollar Hedged) -- Administrative return, consistent with Company LLC Class Shares preservation of capital and prudent investment management. ---------------------------------------------------------------------------------------
9 The following Portfolios are not available to contracts issued on or after May 1, 2006:
Adviser (and Sub-Adviser(s), Subaccount Investment Objective as applicable) ------------------------------------------------------------------------------------------ FIDELITY(R) VARIABLE VIP Asset ManagerSM Portfolio -- Seeks to obtain high Fidelity Management & Research INSURANCE PRODUCTS Service Class 2 total return with Company (FMR) (subadvised by FUND reduced risk over the Fidelity Investments Money long term by Management, Inc. (FIMM), FMR allocating its assets Co., Inc. (FMRC), Fidelity Research among stocks, bonds & Analysis Company (FRAC), and short-term Fidelity Management & Research instruments. (U.K.) Inc. (FMR U.K.), Fidelity International Investment Advisors (FIAA), Fidelity International Investment Advisors (U.K.) Limited (FIAA(U.K.)L), and Fidelity Investments Japan Limited (FIJ)) ------------------------------------------------------------------------------------------ GOLDMAN SACHS Goldman Sachs Mid Cap Value Seeks long-term Goldman Sachs Asset Management, VARIABLE INSURANCE Fund capital appreciation. L.P. TRUST ------------------------------------------------------------------------------------------ MFS(R) VARIABLE MFS(R) New Discovery Series -- The fund's investment Massachusetts Financial Services INSURANCE TRUST Service Class Shares objective is to seek Company capital appreciation. The fund's objective may be changed without shareholder approval. ------------------------------------------------------------------------------------------
The following Portfolios are not available to contracts issued on or after May 1, 2007:
Adviser (and Sub-Adviser(s), Subaccount Investing In Investment Objective as applicable) ------------------------------------------------------------------------------------ LEGG MASON PARTNERS Legg Mason Partners Variable Seeks total return and Legg Mason Partners Fund VARIABLE EQUITY Capital and Income Portfolio -- a combination of Advisor, LLC (subadvised by TRUST/1/ Class II income and long-term ClearBridge Advisors, LLC and capital appreciation. Western Asset Management Company) ------------------------------------------------------------------------------------ VAN KAMPEN LIFE Strategic Growth Portfolio -- Seeks capital Van Kampen Asset Management INVESTMENT TRUST Class II Shares appreciation. ------------------------------------------------------------------------------------
/1/ Legg Mason executed a reorganization of its fund operations effective April 28, 2007. As a result of this reorganization, Legg Mason Partners Variable Portfolios I, Inc. -- Legg Mason Partners Variable Total Return Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Capital and Income Portfolio. The current Investment Strategy for the living benefit riders is as follows: (1) owners may allocate assets to the following Designated Subaccounts: AllianceBernstein Variable Products Series Fund, Inc. -- AllianceBernstein Balanced Wealth Strategies Portfolio -- Class B BlackRock Variable Series Funds, Inc. -- BlackRock Global Allocation V.I. Fund -- Class III Shares; Fidelity Variable Insurance Products Fund -- VIP Balanced Portfolio -- Service Class 2; Franklin Templeton Variable Insurance Products Trust -- Franklin Income Securities Fund -- Class 2 Shares; Franklin Templeton Variable Insurance Products Trust -- Franklin Templeton VIP Founding Funds Allocation Fund -- Class 2 Shares 10 GE Investments Funds, Inc. -- Total Return Fund -- Class 3 Shares; Janus Aspen Series -- Balanced Portfolio -- Service Shares; MFS(R) Variable Insurance Trust -- MFS(R) Total Return Series -- Service Class Shares; Oppenheimer Variable Account Funds -- Oppenheimer Balanced Fund/VA -- Service Shares; and/or The Universal Institutional Funds, Inc. -- Equity and Income Portfolio -- Class II Shares; OR (2) for owners who have elected Lifetime Income Plus 2008, owners may allocate assets to Asset Allocation Model A, B, C or D; or for owners who have elected another living benefit rider, owners may allocate assets to Asset Allocation Model C. Not all of these Portfolios may be available in all states or all markets. Prospectuses for the Portfolios listed above may be obtained free of charge from our Home Office by calling: 800 352.9910 or by writing: Genworth Life and Annuity Insurance Company 6610 West Broad Street Richmond, Virginia 23230 Please be sure to include your name, the Annuitant's name, your contract number and your current mailing address on any written correspondence so that we may be sure the correct prospectuses are mailed to you. 11