As filed with the Securities and Exchange Commission on April 27, 2010

Registration No. 33-56908

811-06032

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. 36

and

REGISTRATION STATEMENT

UNDER

THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 80

Separate Account VA B

(Exact Name of Registrant)

TRANSAMERICA LIFE INSURANCE COMPANY

(Name of Depositor)

4333 Edgewood Road, N.E., Cedar Rapids, Iowa 52499

(Address of Depositor’s Principal Executive Offices)

Depositor’s Telephone Number, including Area Code

(319) 355-8330

Darin D. Smith, Esquire

Transamerica Life Insurance Company

4333 Edgewood Road, N.E.

Cedar Rapids, Iowa 52499-4520

(Name and Address of Agent for Service)

Copy to:

Frederick R. Bellamy, Esquire

Sutherland Asbill & Brennan L.L.P.

1275 Pennsylvania Avenue, N.W.

Washington, D.C. 20004-2415

Title of Securities Being Registered:

Flexible Premium Variable Annuity Policies

It is proposed that this filing will become effective:

¨ immediately upon filing pursuant to paragraph (b) of Rule 485

x       on May 1, 2010 pursuant to paragraph (b) of Rule 485

¨       60 days after filing pursuant to paragraph (a)(1) of Rule 485

¨ on                          pursuant to paragraph (a)(1) 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.

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TRANSAMERICA FREEDOM VARIABLE ANNUITY

Issued Through

SEPARATE ACCOUNT VA B

By

TRANSAMERICA LIFE INSURANCE COMPANY

Prospectus

May 1, 2010

This flexible premium deferred annuity policy has many investment choices. There is a separate account that currently provides a means of investing in various underlying fund portfolios. There is also a fixed account, which offers interest at rates that are guaranteed by Transamerica Life Insurance Company. You can choose any combination of these investment choices. You bear the entire investment risk for all amounts you put in the separate account.

This prospectus and the underlying fund prospectuses give you important information about the policies and the underlying fund portfolios. Please read them carefully before you invest and keep them for future reference.

If you would like more information about the Transamerica Freedom Variable Annuity, you can obtain a free copy of the Statement of Additional Information (SAI) dated May 1, 2010. Please call us at (800) 525-6205 or write us at: Transamerica Life Insurance Company, Attention: Customer Care Group, 4333 Edgewood Road NE, Cedar Rapids, IA 52499-0001. A registration statement, including the SAI, has been filed with the Securities and Exchange Commission (SEC) and the SAI is incorporated herein by reference. More information about the variable annuity can be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. You may obtain information about the operation of the public reference room by calling the SEC at 1-800-732-0330. The SEC also maintains a web site (http://www.sec.gov) that contains the prospectus, the SAI, material incorporated by reference, and other information. The table of contents of the SAI is included at the end of this prospectus.

Please note that the policies and the separate account investment choices:

• are not bank deposits

• are not federally insured

• are not endorsed by any bank or government agency

• are not guaranteed to achieve their goal

• are subject to risks, including loss of premium

The Securities and Exchange Commission has not approved or disapproved these securities, or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

PORTFOLIOS ASSOCIATED WITH THE SUBACCOUNTS

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

Managed by Invesco Advisers, Inc.

Invesco V.I. Basic Value Fund – Series II Shares

Invesco V.I. Capital Appreciation Fund – Series II Shares

ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND, INC.

Managed by AllianceBernstein L.P.

AllianceBernstein Balanced Wealth Strategy Portfolio – Class B

AllianceBernstein Growth and Income Portfolio – Class B

AllianceBernstein Large Cap Growth Portfolio – Class B

AMERICAN FUNDS INSURANCE SERIES TRUST

Managed by Capital Research and Management Company

American Funds – Asset Allocation Fund – Class 2

American Funds – Bond Fund – Class 2

American Funds – Growth Fund – Class 2

American Funds – Growth-Income Fund – Class 2

American Funds – International Fund – Class 2

FIDELITY^® VARIABLE INSURANCE PRODUCTS FUND

Managed by Fidelity Management & Research Company

Fidelity VIP Balanced Portfolio – Service Class 2

Fidelity VIP Contrafund^® Portfolio – Service Class 2

Fidelity VIP Equity-Income Portfolio – Service Class 2

Fidelity VIP Growth Portfolio – Service Class 2

Fidelity VIP Mid Cap Portfolio – Service Class 2

Fidelity VIP Value Strategies Portfolio – Service Class 2

FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST

Managed by Franklin Advisers, Inc.

Franklin Income Securities Fund – Class 2

Managed by Franklin Mutual Advisers, LLC

Mutual Shares Securities Fund – Class 2

Managed by Templeton Investment Counsel LLC

Templeton Foreign Securities Fund – Class 2

FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST

Fund Administrator: Franklin Templeton Services, LLC

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

GE INVESTMENTS FUNDS, INC.

Managed by GE Asset Management, Inc.

GE Investments Total Return Fund – Class 3

JANUS ASPEN SERIES

Managed by Janus Capital Management LLC

Janus Aspen – Enterprise Portfolio – Service Shares

Janus Aspen – Worldwide Portfolio – Service Shares

MFS^® VARIABLE INSURANCE TRUST

Managed by MFS^® Investment Management

MFS^® New Discovery Series – Service Class

MFS^® Total Return Series – Service Class

TRANSAMERICA SERIES TRUST

Portfolio Construction Manager: Morningstar Associates, LLC

Transamerica Asset Allocation – Conservative VP – Service Class

Transamerica Asset Allocation – Growth VP – Service Class

Transamerica Asset Allocation – Moderate VP – Service Class

Transamerica Asset Allocation – Moderate Growth VP – Service Class

Transamerica International Moderate Growth VP – Service Class

Subadvised by AEGON USA Investment Management, LLC

Transamerica AEGON High Yield Bond VP – Service Class

Transamerica Efficient Markets VP – Service Class

Transamerica Index 35 VP – Service Class

Transamerica Index 50 VP – Service Class

Transamerica Index 75 VP – Service Class

Transamerica Index 100 VP – Service Class

Subadvised by BlackRock Financial Management, Inc.

Transamerica BlackRock Tactical Allocation VP – Service Class

Subadvised by BlackRock Investment Management, LLC

Transamerica BlackRock Large Cap Value VP – Service Class

Subadvised by Foxhall Capital Management, Inc.

Transamerica Foxhall Emerging Markets/Pacific Rim VP – Service Class

Transamerica Foxhall Global Conservative VP – Service Class

Transamerica Foxhall Global Growth VP – Service Class

Transamerica Foxhall Global Hard Asset VP – Service Class

Subadvised by Hanlon Investment Management, Inc.

Transamerica Hanlon Balanced VP – Service Class

Transamerica Hanlon Growth VP – Service Class

Transamerica Hanlon Growth and Income VP – Service Class

Transamerica Hanlon Managed Income VP – Service Class

Subadvised by ING Clarion Real Estate Securities, L.P.

Transamerica Clarion Global Real Estate Securities VP – Service Class

Subadvised by J.P. Morgan Investment Management Inc.

Transamerica JPMorgan Enhanced Index VP – Service Class

Transamerica JPMorgan Mid Cap Value VP – Service Class

Subadvised by Jennison Associates LLC

Transamerica Jennison Growth VP– Service Class

Subadvised by MFS^® Investment Management

Transamerica MFS International Equity VP – Service Class

Subadvised by Morgan Stanley Investment Management Inc.

Transamerica Morgan Stanley Active International AllocationVP – Service Class

Transamerica Multi Managed Large Cap Core VP – Service Class

Subadvised by Pacific Investment Management Company LLC

Transamerica PIMCO Total Return VP – Service Class

Subadvised by T. Rowe Price Associates, Inc.

Transamerica T. Rowe Price Small Cap VP – Service Class

Advised by Transamerica Asset Management, Inc.

Transamerica BlackRock Global Allocation VP – Service Class

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Subadvised by Transamerica Investment Management, LLC

Transamerica Balanced VP – Service Class

Transamerica Convertible Securities VP – Service Class

Transamerica Diversified Equity VP – Service Class

Transamerica Focus VP – Service Class

Transamerica Growth Opportunities VP – Service Class

Transamerica Money Market VP – Service Class

Transamerica Small/Mid Cap Value VP – Service Class

Transamerica U.S. Government Securities VP – Service Class

Subadvised by Van Kampen Asset Management

Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class

Subadvised by Wellington Management Company, LLP

Transamerica WMC Diversified Growth VP – Service Class

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TABLE OF CONTENTS

GLOSSARY OF TERMS		6
SUMMARY		8
ANNUITY POLICY FEE TABLE AND EXPENSE EXAMPLES		14
1.	THE ANNUITY POLICY	19
2.	PURCHASE	19
	Policy Issue Requirements	19
	Premium Payments	19
	Initial Premium Requirements	20
	Additional Premium Payments	20
	Maximum Total Premium Payments	20
	Allocation of Premium Payments	20
	Policy Value	21
3.	INVESTMENT CHOICES	21
	The Separate Account	21
	Selection of Underlying Portfolios	25
	Addition, Deletion, or Substitution of Investments	26
	The Fixed Account	26
	Transfers	27
	Market Timing and Disruptive Trading	28
4.	PERFORMANCE	31
5.	EXPENSES	31
	Excess Interest Adjustment	32
	Mortality and Expense Risk Fees	32
	Premium Taxes	32
	Federal, State and Local Taxes	32
	Special Service Fees	32
	Transfer Fee	32
	Administrative Charges	33
	Initial Payment Guarantee	33
	Fund Facilitation Fee	33
	Additional Death Distribution	33
	Additional Death Distribution+	33
	Living Benefits Rider	34
	Retirement Income ChoiceSM 1.2 Rider and Additional Options Fees	34
	Retirement Income ChoiceSM 1.4 Rider and Additional Options Fees	35
	Income LinkSM Rider Fee	35
	Portfolio Fees and Expenses	35
	Revenue We Receive	35
6.	ACCESS TO YOUR MONEY	37
	Surrenders	37
	Delay of Payment and Transfers	38
	Excess Interest Adjustment	38
	Signature Guarantee	39
7.	ANNUITY PAYMENTS (THE INCOME PHASE)	39
	Annuity Payment Options	40
8.	DEATH BENEFIT	42
	When We Pay A Death Benefit	42
	When We Do Not Pay A Death Benefit	42
	Deaths After the Annuity Commencement Date	43
	Succession of Ownership	43
	Amount of Death Benefit	43
	Guaranteed Minimum Death Benefit	44
	Adjusted Partial Surrender	44
9.	TAXES	45
	Annuity Policies in General	45
	Qualified and Nonqualified Policies	45
	Surrenders-Qualified Policies Generally	46
	Surrenders-403(b) Policies	47
	Surrenders-Nonqualified Policies	47
	Taxation of Death Benefit Proceeds	48
	Annuity Payments	48
	Medicare Tax	49
	Diversification and Distribution Requirements	49
	Federal Defense of Marriage Act	49
	Federal Estate Taxes	49
	Generation-Skipping Transfer Tax	49
	Estate, Gift and Generation-Skipping Transfer Taxes in 2010	50
	Annuity Purchases by Residents of Puerto Rico	50
	Annuity Contracts Purchased by Nonresident Aliens and Foreign Corporations	50
	Transfers, Assignments or Exchanges of Policies	50
	Possible Tax Law Changes	50
	Separate Account Charges	50
	Foreign Tax Credits	51

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TABLE OF CONTENTS continued

	Guaranteed Lifetime Withdrawal Benefits	51
10.	ADDITIONAL FEATURES	51
	Systematic Payout Option	51
	Income Benefit Programs	51
	Initial Payment Guarantee	51
	Additional Death Distribution	52
	Additional Death Distribution+	54
	Nursing Care and Terminal Condition Withdrawal Option	55
	Unemployment Waiver	55
	Telephone Transactions	56
	Dollar Cost Averaging Program	56
	Asset Rebalancing	57
	Guaranteed Lifetime Withdrawal Benefits	57
	Living Benefits Rider	58
	Retirement Income ChoiceSM 1.2 Rider	65
	Retirement Income ChoiceSM 1.4 Rider	76
	Income LinkSM Rider	84
11.	OTHER INFORMATION	92
	Ownership	92
	Beneficiary	92
	Right to Cancel Period	92
	Assignment	92
	Sending Forms and Transaction Requests in Good Order	92
	Mixed and Shared Funding	93
	Exchanges and Reinstatements	93
	Voting Rights	93
	IMSA	94
	Legal Proceedings	94
	Transamerica Life Insurance Company	94
	Financial Condition of the Company	94
	The Separate Account	95
	Distribution of the Policies	96
TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION		98
APPENDIX
	CONDENSED FINANCIAL INFORMATION	99
APPENDIX
	POLICY VARIATIONS	104
APPENDIX
	EXCESS INTEREST ADJUSTMENT EXAMPLES	109
APPENDIX
	DEATH BENEFIT	113
APPENDIX
	ADDITIONAL DEATH DISTRIBUTION RIDER — ADDITIONAL INFORMATION	116
APPENDIX
	ADDITIONAL DEATH DISTRIBUTION+ RIDER - ADDITIONAL INFORMATION	117
APPENDIX
	GUARANTEED LIFETIME WITHDRAWAL BENEFIT COMPARISON TABLE	118
APPENDIX
	LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS	122
APPENDIX
	GUARANTEED LIFETIME WITHDRAWAL BENEFIT ADJUSTED PARTIAL SURRENDERS - RETIREMENT INCOME CHOICESM 1.2 RIDER AND RETIREMENT INCOME CHOICESM 1.4 RIDER	129
APPENDIX
	GUARANTEED LIFETIME WITHDRAWAL BENEFIT ADJUSTED PARTIAL SURRENDERS - INCOME LINKSM RIDER	135

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GLOSSARY OF TERMS

Accumulation Unit — An accounting unit of measure used in calculating the policy value in the separate account before the annuity commencement date.

Adjusted Policy Value — The policy value increased or decreased by any excess interest adjustment.

Administrative and Service Office — Transamerica Life Insurance Company, Attention: Customer Care Group, 4333 Edgewood Road NE, Cedar Rapids, IA 52499-0001, (800) 525-6205.

Annuitant — The person on whose life any annuity payments involving life contingencies will be based.

Annuitize (Annuitization) — When you switch from the accumulation phase to the income phase and we begin to make annuity payments to you (or your designee).

Annuity Commencement Date — The date upon which annuity payments are to commence. This date may be any date after the policy date and may not be later than the last day of the policy month following the month after the annuitant attains age 95. The earliest annuity commencement date is at least thirty days after you purchase your policy. The annuity commencement date may have to be earlier for qualified policies and may be earlier if required by state law.

Annuity Payment Option — A method of receiving a stream of annuity payments selected by the owner.

Assumed Investment Return or AIR — The annual effective rate shown in the contract specifications section of the contract that is used in the calculation of each variable annuity payment.

Cash Value — The adjusted policy value less any rider fees (imposed upon surrender).

Excess Interest Adjustment — A positive or negative adjustment to amounts surrendered (both partial or full surrenders and transfers) or applied to annuity payment options from the fixed account guaranteed period options prior to the end of the guaranteed period. The adjustment reflects changes in the interest rates declared by the Company since the date any payment was received by, or an amount was transferred to, the guaranteed period option. The excess interest adjustment can either decrease or increase the amount to be received by the owner upon full surrender or commencement of annuity payments, depending upon whether there has been an increase or decrease in interest rates, respectively.

Fixed Account — One or more investment choices under the policy that are part of the Company’s general assets and are not in the separate account.

Free Amount — The amount that can be withdrawn each year without incurring any excess interest adjustment.

Guaranteed Lifetime Withdrawal Benefit — Any optional benefit under the policy that provides a guaranteed minimum withdrawal benefit, including the Living Benefits Rider, the Retirement Income Choice^SM 1.2, the Retirement Income Choice^SM 1.4 or the Income Link^SM Rider.

Guaranteed Period Options — The various guaranteed interest rate periods of the fixed account which the Company may offer and into which premium payments may be paid or amounts transferred.

Owner (You, Your) — The person who may exercise all rights and privileges under the policy. The owner during the lifetime of the annuitant and before the annuity commencement date is the person designated as the owner in the information that we require to issue a policy.

Policy Date — The date shown on the policy data page attached to the policy and the date on which the policy becomes effective.

Policy Value — On or before the annuity commencement date, the policy value is equal to the owner’s:

• premium payments; minus

• gross partial surrenders (partial surrenders minus excess interest adjustments); plus

• interest credited in the fixed account; plus

• accumulated gains in the separate account; minus

• accumulated losses in the separate account; minus

• service charges, rider fees, premium taxes, transfer fees, and other charges, if any.

Policy Year — A policy year begins on the policy date and on each anniversary thereof.

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Separate Account — Separate Account VA B, a separate account established and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the “1940 Act”), to which premium payments under the policies may be allocated.

Separate Account Value — The portion of the policy value that is invested in the separate account.

Subaccount — A subdivision within the separate account, the assets of which are invested in a specified underlying fund portfolio.

Valuation Period — The period of time from one determination of accumulation unit values and annuity unit values to the next subsequent determination of those values. Such determination shall be made on each business day.

Written Notice — Written notice, signed by the owner, that gives the Company the information it requires and is received in good order at the Administrative and Service Office. For some transactions, the Company may accept an electronic notice such as telephone instructions. Such electronic notice must meet the requirements for good order that the Company establishes for such notices.

You (Your) — the owner of the policy.

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SUMMARY

The sections in this summary correspond to sections in this prospectus, which discuss the topics in more detail.

1. THE ANNUITY POLICY

The flexible premium deferred variable annuity policy offered by Transamerica Life Insurance Company (the Company, we, us, or our) provides a way for you to invest on a tax-deferred basis in the following investment choices: various subaccounts of the separate account and the fixed account of the Company. The policy is intended to accumulate money for retirement or other long-term investment purposes.

This policy currently offers subaccounts that are listed under “Investment Choices” in this prospectus. Each subaccount invests exclusively in shares of one of the underlying fund portfolios. The policy value may depend on the investment experience of the selected subaccounts. Therefore, you bear the entire investment risk with respect to all policy value in any subaccount. You could lose the amount that you invest.

The fixed account offers an interest rate that the Company guarantees.

The policy, like all deferred annuity policies, has two phases: the “accumulation phase” and the “income phase.” During the accumulation phase, earnings accumulate on a tax-deferred basis and are taxed as ordinary income when you take them out of the policy. The income phase occurs when you annuitize and begin receiving regular annuity payments from your policy. The money you can accumulate during the accumulation phase will largely determine the payments you receive during the income phase.

2. PURCHASE

The initial premium payment for nonqualified policies must be at least $15,000 or more, and at least $1,000 for qualified policies, under most circumstances. You must obtain prior Company approval to purchase a policy with an amount less than the stated minimum. You can generally add as little as $50 at any time during the accumulation phase.

3. INVESTMENT CHOICES

You can allocate your premium payments to one of several underlying fund portfolios listed under Investment Choices in this prospectus and described in the underlying fund prospectuses. Depending upon their investment performance, you can make or lose money in any of the subaccounts.

You can also allocate your premium payments to the fixed account.

We currently allow you to transfer money between any of the investment choices during the accumulation phase. We reserve the right to impose a $10 fee for each transfer in excess of 12 transfers per policy year and to impose restrictions and limitations on transfers.

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4. PERFORMANCE

The value of the policy will vary up or down depending upon the investment performance of the subaccounts you choose.

5. EXPENSES

Note: The following section on expenses and the Annuity Policy Fee Table and expense examples only apply to policies issued after the date of this prospectus. See “Appendix – Policy Variations” for information about older policies.

No deductions are made from premium payments at the time you buy the policy so that the full amount of each premium payment is invested in one or more of your investment choices. If you select the Life with Emergency Cash^® annuity payment option, then you can surrender your policy after annuity payments have begun. A surrender charge of up to 4% of policy value will apply during the first four years after the annuity commencement date.

Full surrenders, partial surrenders, and transfers from a guaranteed period option of the fixed account may also be subject to an excess interest adjustment, which may increase or decrease the amount you receive. This adjustment may also apply to amounts applied to an annuity payment option from a guaranteed period option of the fixed account prior to the end of the guaranteed period option.

We deduct daily mortality and expense risk fees and administrative charges from the assets in each subaccount during the accumulation phase, at an annual rate (as a percentage of the subaccount’s value) that depend on the death benefit option that you select, as follows:

• 1.70% if you choose the Return of Premium Death Benefit

• 1.90% if you choose the Annual Step-Up Death Benefit

During the accumulation phase, we deduct an annual service charge of no more than $35 from the policy value on each policy anniversary and at the time of surrender. The charge is waived if either the policy value or the sum of all premium payments, minus all partial surrenders, is at least $50,000.

Upon full surrender, payment of a death benefit, or when annuity payments begin, we will deduct state premium taxes, if applicable. State premium taxes currently range from 0% to 3.50%, depending on the state.

If you elect the Initial Payment Guarantee feature when you annuitize, then there is a daily fee (during the income phase) currently equal to an annual rate of 1.25% of the daily net asset value in the subaccounts.

We deduct a daily fund facilitation fee from the assets in certain investment choices at an annual rate (as a percentage of the subaccount’s value) as follows:

• 0.30% if you choose the American Funds – Asset Allocation Fund – Class 2

• 0.30% if you choose the American Funds – Bond Fund – Class 2

• 0.30% if you choose the American Funds – Growth Fund – Class 2

• 0.30% if you choose the American Funds – Growth-Income Fund – Class 2

• 0.30% if you choose the American Funds – International Fund – Class 2

• 0.20% if you choose the AllianceBernstein Balanced Wealth Strategy Portfolio – Class B

• 0.20% if you choose the GE Investments Total Return Fund – Class 3

• 0.15% if you choose the Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

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• 0.10 % if you choose the Transamerica BlackRock Global Allocation VP – Service Class

If you elect the Additional Death Distribution (“ADD”), then there is an annual rider fee during the accumulation phase of 0.25% of the policy value.

If you elect the Additional Death Distribution+ (“ADD+”), then there is an annual rider fee during the accumulation phase of 0.55% of the policy value.

If you elect the Living Benefits Rider, then there is an annual rider fee during the accumulation phase of 0.90% of the “principal back” total withdrawal base on each anniversary (“rider anniversary”) of the date the rider was elected.

If you elect the Retirement Income Choice^SM 1.2 Rider, there is an annual rider fee during the accumulation phase of 1.10% of the withdrawal base charged quarterly if you elect the Open Allocation option, and 0.40% to 1.25% if you elect the Designated Allocation option depending on what designated investment options you choose. For each additional option you elect with the rider, you will be charged a quarterly fee during the accumulation phase that is also a percentage of the withdrawal base; this fee is in addition to the rider fee for the base benefit.

If you elect the Retirement Income Choice^SM 1.4 Rider, there is an annual rider fee during the accumulation phase of 0.40% to 1.25% depending on what designated investment options you choose. For each additional option you elect with the rider, you will be charged a quarterly fee during the accumulation phase that is also a percentage of the withdrawal base; this fee is in addition to the rider fee for the base benefit.

If you elect the Income Link^SM Rider, there is an annual rider fee during the accumulation phase of 0.90% of the withdrawal base charged quarterly.

The value of the net assets of the subaccounts will reflect the management fee and other expenses incurred by the underlying fund portfolios.

6. ACCESS TO YOUR MONEY

You can generally take out $500 or more anytime during the accumulation phase (except under certain qualified policies).

You may have to pay income tax and a tax penalty on any money you take out.

If you have policy value in the fixed account, you may take out any cumulative interest credited free of excess interest adjustments.

Access to amounts held in qualified policies may be restricted or prohibited by law or regulation or the terms of the policy.

Surrenders are not generally permitted during the income phase unless you elect the Life with Emergency Cash^® annuity payment option.

Partial surrenders will reduce your policy value. Depending on its amount and timing, a partial surrender may considerably reduce or eliminate some of the benefits and guarantees provided by your Contract. You should carefully consider whether a partial surrender under a particular circumstance will have a negative impact to your benefits or guarantees. The impact of partial and full surrenders (generally) on your benefits and guarantees is discussed in the corresponding sections of the prospectus describing such benefits and guarantees.

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7. ANNUITY PAYMENTS (THE INCOME PHASE)

The policy allows you to receive income under one of several annuity payment options. You may choose from fixed payment options, variable payment options, or a combination of both. If you select a variable payment option, then the dollar amount of your annuity payments may go up or down. However, the Initial Payment Guarantee is available for an extra fee and it guarantees a minimum amount for each variable annuity payment.

8. DEATH BENEFIT

If the sole annuitant dies before the income phase begins, then the beneficiary will generally receive a death benefit. If the owner is not the annuitant, then no death benefit is paid if the owner dies; however required distribution rules require that the policy value be distributed upon the death of any owner.

Naming different persons as owner and annuitant can affect to whom and whether amounts will be paid. Use care when naming owners, annuitants and beneficiaries, and consult your agent if you have questions.

When you purchase a policy you may generally choose an optional guaranteed minimum death benefit:

• Annual Step-Up Death Benefit

Charges are lower if you do not choose an optional guaranteed minimum death benefit.

After the policy is issued, a guaranteed minimum death benefit cannot be added, and the death benefit cannot be changed.

9. TAXES

Earnings, if any, are generally not taxed until taken out. If you take money out of a nonqualified policy during the accumulation phase, earnings come out first for federal tax purposes, and are taxed as ordinary income. For nonqualified and certain qualified policies, payments during the income phase may be considered partly a return of your original investment so that part of each payment may not be taxable as income. For qualified policies, payments during the income phase are, in many cases, considered as all taxable income. If you are younger than 59 ¹/2 when you take money out, you may incur a 10% federal penalty tax on the taxable earnings.

10. ADDITIONAL FEATURES

This policy has additional features that might interest you. These features may not be available for all policies, may vary for certain policies, may not each be available in combination with other optional benefits under the policy, and may not be suitable for your particular situation.

These features include, but are not limited to, the following:

• You can arrange to have money automatically sent to you monthly, quarterly, semi-annually or annually while your policy is in the accumulation phase. This feature is referred to as the “Systematic Payout Option” (“SPO”). Amounts you receive may be included in your gross income, and in certain circumstances, may be subject to penalty taxes.

• You can elect an optional feature at the time of annuitization that guarantees your variable annuity payments will never be less than a percentage of the initial variable annuity payment. This feature is called the “Initial Payment Guarantee” (“IPG”). There is an extra charge for this feature.

• You may elect one of two optional riders that might pay an additional amount on top of the policy death benefit, in certain circumstances. These features are called the “Additional Death Distribution” (“ADD”) and “Additional Death Distribution+” (“ADD+”). There is an extra charge for these riders.

• Under certain medically related circumstances, you may surrender all or part of the policy value without any excess interest adjustment. This feature is called the “Nursing Care and Terminal Condition Withdrawal Option.”

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• Under certain unemployment circumstances, you may surrender all or a portion of the policy value free of any excess interest adjustment. This feature is called the “Unemployment Waiver.”

• You may generally make transfers and/or change the allocation of additional premium payments by telephone. We may restrict or eliminate this feature.

• You can arrange to automatically transfer money (at least $500 per transfer) monthly or quarterly from certain investment choices into one or more subaccounts. This feature is known as “Dollar Cost Averaging.”

• We will, upon your request, automatically transfer amounts among the subaccounts on a regular basis to maintain a desired allocation of the policy value among the various subaccounts. This feature is called “Asset Rebalancing.”

• You may elect to purchase an optional rider which provides you with a guaranteed minimum accumulation benefit and a guaranteed lifetime withdrawal benefit. This feature is called the “Living Benefits Rider.” If you elect this rider, we will monitor your policy value and, as we deem necessary to support the guarantees under the rider, may transfer amounts back and forth between investment choices that we designate and the variable investment choices that you have selected. You may lose the benefit of this rider if you take “excess” withdrawals. There is an extra charge for this rider.

• You may elect to purchase an optional rider which provides you with a guaranteed lifetime withdrawal benefit. This feature is called the “Retirement Income Choice^SM 1.2 Rider.” If you elect the Retirement Income Choice^SM 1.2 Rider, you must allocate 100% of your policy value according to either the Designated Allocation option or the Open Allocation option and meet other conditions. (See “Retirement Income Choice^SM 1.2 - Allocation Options and Restrictions”.) You may lose the benefit of this rider if you take “excess” withdrawals. There is an extra charge for this rider.

• You may elect to purchase an optional rider which provides you with a guaranteed lifetime withdrawal benefit. This feature is called the “Retirement Income Choice^SM 1.4 Rider.” If you elect the Retirement Income Choice^SM 1.4 Rider, you must allocate 100% of your policy value to one or more “designated investment option(s).” (See “Retirement Income Choice^SM 1.4 - Designated Investment Options”.) You may lose the benefit of this rider if you take “excess” withdrawals. There is an extra charge for this rider.

• You may elect to purchase an optional rider which provides you with a guaranteed lifetime withdrawal benefit that uses a higher withdrawal percentage for a defined period of time and then resets to a lower percentage. This feature is called the “Income Link^SM Rider.” If you elect the Income Link^SM Rider, you must allocate 100% of your policy value to one or more “designated investment option(s).” (See “Income Link^SM Rider - Designated Investment Options”.) You may lose the benefit of this rider if you take non-Income Link^SM rider systematic withdrawals. There is an extra charge for this rider.

11. OTHER INFORMATION

Right to Cancel Period. You may return your policy for a refund, but only if you return it within a prescribed period, which is generally 10 days (after you receive the policy), or whatever longer time may be required by state law. The amount of the refund will generally be the premiums paid plus or minus accumulated gains or losses in the separate account; if state law requires, we will refund your original premium payment(s). The policy will then be deemed void.

No Probate. Usually, the person receiving the death benefit under this policy will not have to go through probate. State laws vary on how the amount that may be paid is treated for estate tax purposes.

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Who should purchase the Policy? This policy is designed for people seeking long-term tax-deferred accumulation of assets, generally for retirement or other long-term purposes; and for persons who have maximized their use of other retirement savings methods, such as 401(k) plans. The tax-deferred feature is most attractive to people in high federal and state tax brackets. The tax deferral features of variable annuities are unnecessary when purchased to fund a qualified plan. You should not buy this policy if you are looking for a short-term investment, market timing, or if you cannot take the risk of losing money that you put in.

There are various fees and charges associated with variable annuities. You should consider whether the features and benefits of this policy, unique to variable annuities, such as the opportunity for lifetime income payments, a guaranteed death benefit, the guaranteed level of certain charges, and additional features, make this policy appropriate for your needs.

State Variations. Policies issued in your state may provide different features and benefits from, and impose different costs than, those described in this prospectus because of state law variations. These differences include, among other things, free look rights, issue age limitations, and the general availability of riders. This prospectus describes the material rights and obligations of a policy owner, and the maximum fees and charges for all policy features and benefits are set forth in the fee table of this prospectus. See your policy for specific variations because any such state variations will be included in your policy or in riders or endorsements attached to your policy. See your agent or contact us for specific information that is applicable to your state.

Old Policies. This prospectus generally describes policies issued after the date of this prospectus. See “Appendix - Policy Variations” for information on how older policies have different features and requirements, and sometimes different fees and deductions.

Financial Statements. Financial Statements for the Company and the subaccounts are in the SAI. Condensed financial information for the subaccounts (those in operation by year end December 31, 2009, if any) are in “Appendix – Condensed Financial Information” to this prospectus.

12. INQUIRIES

If you need more information or want to make a transaction, please contact us at:

Transamerica Life Insurance Company

Administrative and Service Office

Attention: Customer Care Group

4333 Edgewood Road NE

Cedar Rapids, IA 52499-0001

(800) 525-6205

You may check your policy at www.transamericaservice.com. Follow the logon procedures. You will need your pre-assigned Personal Identification Number (“PIN”) to access information about your policy. We cannot guarantee that you will be able to access this site.

You should protect your PIN, because on-line (or telephone) options may be available and could be made by anyone who knows your PIN. We may not be able to verify that the person providing instructions using your PIN is you or someone authorized by you.

13

ANNUITY POLICY FEE TABLE AND EXPENSE EXAMPLES

The following describes the fees and expenses that you will pay when buying, owning, and surrendering the policy. Please be certain to review the notes following the fee table and expense examples for further information about the fees and charges presented. The order of the notes follows the order in which the fees and charges under the policy are presented in the fee tables and the expense examples.

The first section describes the fees and expenses that you will pay at the time that you buy the policy, surrender the policy, or transfer cash value between investment choices. State premium taxes may also be deducted. Excess interest adjustments may be made to amounts surrendered or applied to annuity payment options from cash value from the fixed account. (All fees are maximum for purchases made while this prospectus is effective unless otherwise noted.)

Policy Owner Transaction Expenses:

Sales Load On Purchase Payments	0	%
Maximum Surrender Charge (as a % of premium payments surrendered)
Base Policy	0	%
Transfer Fee	$0 - $10
Special Service Fee	$0 - $25

The next section describes the fees and expenses that you will pay periodically during the time that you own the policy, not including portfolio fees and expenses. (All fees are maximum for purchases made while this prospectus is effective unless otherwise noted.)

Annual Service Charge $0 - $35 per policy

Separate Account Annual Expenses (as a percentage, annually, of average separate account value):

Base Separate Account Expenses:
Mortality and Expense Risk Fee	1.55	%
Administrative Charge	0.15	%
Total Base Separate Account Annual Expenses	1.70	%
Optional Separate Account Expenses:
Annual Step-Up Death Benefit	0.20	%
Fund Facilitation Fee	0.30	%
Total Separate Account Annual Expenses with Highest Optional Separate Account Expenses	2.20	%

Optional Rider Fees:

Additional Death Distribution (annual charge based on policy value)	0.25	%
Additional Death Distribution+ (annual charge based on policy value)	0.55	%
Living Benefits Rider (annual charge, a % of Total Withdrawal Base)	0.90	%
Retirement Income ChoiceSM 1.2 Rider (annual charge, a % of withdrawal base):
Base Benefit Open Allocation Option (Maximum)	1.85	%
Base Benefit Open Allocation Option (Current)	1.10	%
Base Benefit Designated Allocation Group A (Maximum)	2.00	%
Base Benefit Designated Allocation Group A (Current)	1.25	%

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Base Benefit Designated Allocation Group B (Maximum)	1.65	%
Base Benefit Designated Allocation Group B (Current)	0.90	%
Base Benefit Designated Allocation Group C (Maximum)	1.15	%
Base Benefit Designated Allocation Group C (Current)	0.40	%
Additional Benefits available with the Retirement Income ChoiceSM 1.2 Rider:
Death Benefit (Single Life Option)	0.25	%
Death Benefit (Joint Life Option)	0.20	%
Income Enhancement Benefit (Single Life Option)	0.15	%
Income Enhancement Benefit (Joint Life Option)	0.30	%
Maximum Total Retirement Income ChoiceSM 1.2 Rider Fees (Joint Life) with Highest Combination of Benefits	2.50	%
Current Total Retirement Income ChoiceSM 1.2 Rider Fees (Joint Life) with Highest Combination of Benefits	1.75	%
Retirement Income ChoiceSM 1.4 Rider (annual charge, a % of withdrawal base):
Base Benefit Designated Allocation Group A (Maximum)	2.00	%
Base Benefit Designated Allocation Group A (Current)	1.25	%
Base Benefit Designated Allocation Group B (Maximum)	1.65	%
Base Benefit Designated Allocation Group B (Current)	0.90	%
Base Benefit Designated Allocation Group C (Maximum)	1.15	%
Base Benefit Designated Allocation Group C (Current)	0.40	%
Additional Benefits available with the Retirement Income ChoiceSM 1.4 Rider:
Death Benefit (Single Life Option)	0.25	%
Death Benefit (Joint Life Option)	0.20	%
Income Enhancement Benefit (Single Life Option)	0.15	%
Income Enhancement Benefit (Joint Life Option)	0.30	%
Maximum Total Retirement Income ChoiceSM 1.4 Rider Fees (Joint Life) with Highest Combination of Benefits	2.50	%
Current Total Retirement Income ChoiceSM 1.4 Rider Fees (Joint Life) with Highest Combination of Benefits	1.75	%
Income LinkSM Rider (annual charge a - % of withdrawal base):
Base Benefit (Maximum)	1.65	%
Base Benefit (Current)	0.90	%

The next section shows the lowest and highest total operating expenses charged by the underlying fund portfolios for the year ended December 31, 2009 (before any fee waiver or expense reimbursements). Expenses may be higher or lower in future years. More detail concerning each portfolio’s fees and expenses is contained in the prospectus for each portfolio.

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Total Portfolio Annual Operating Expenses (Expenses that are deducted from portfolio assets, including management fees, distribution and/or service 12b-1 fees, and other expenses):

Lowest Gross	0.54	%
Highest Gross	12.53	%

The following Example is intended to help you compare the cost of investing in the policy with the cost of investing in other variable annuity policies. These costs include policy owner transaction expenses, policy fees, separate account annual expenses, and portfolio fees and expenses.

The Example assumes that you invest $10,000 in the policy for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the highest fees and expenses of any of the portfolios for the year ended December 31, 2009, and the base policy with the combination of available optional features or riders with the highest fees and expenses, including the Highest Fund Facilitation Fee, Annual Step-Up Death Benefit, Additional Death Distribution+ Rider, and Retirement Income Choice^SM 1.2 Rider - Joint Life with additional Death Benefit and Income Enhancement options. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Examples:

If the policy is surrendered at the end of the applicable time period:

1 Year	$	1638
3 Years	$	4431
5 Years	$	6686
10 Years	$	10,610

If the policy is annuitized at the end of the applicable time period or if you do not surrender your policy:

1 Year	$	1638
3 Years	$	4431
5 Years	$	6686
10 Years	$	10,610

Please remember that the Example is an illustration and does not represent past or future expenses. Your actual expenses may be lower or higher than those reflected in the Example. Similarly, your rate of return may be more or less than the 5% assumed in the Example.

For information concerning compensation paid for the sale of the policies, see “Distributor of the Policies.”

NOTES TO FEE TABLE AND EXPENSE EXAMPLES

Annuity Policy Fee Table and Expense Examples: The fee table applies only to the accumulation phase and reflects the maximum charges unless otherwise noted. During the income phase the fees may be different than those described in the Fee Table. See section “5. Expenses”.

Policy Owner Transaction Expenses:

Maximum Surrender Charge: If you select the Life with Emergency Cash^® annuity payment option, you will be subject to a surrender charge after the annuity commencement date. See section “5. Expenses”.

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Transfer Fee: The transfer fee, if any is imposed, applies to each policy, regardless of how policy value is allocated among the investment choices. There is no fee for the first 12 transfers per policy year. For additional transfers, the Company may charge a fee of $10 per transfer.

Special Service Fees: We may deduct a charge for special services, such as overnight delivery.

Annual Service Charge:

Annual Service Charge: The annual service charge is assessed on each policy anniversary and at surrender. The charge is waived if your policy value, or the sum of your premiums less all partial surrenders, is at least $50,000.

Separate Account Annual Expenses:

Mortality and Expense Risk Fee: The mortality and expense risk fee shown is for the accumulation phase with the base death benefit.

Optional Separate Account Expenses: Any optional separate account expense is in addition to the mortality and expense risk and administrative fees.

Fund Facilitation Fee: This daily fee is applied only to policy value in the subaccounts invested in the American Funds – Asset Allocation Fund – Class 2 (0.30%), American Funds – Bond Fund – Class 2 (0.30%), American Funds – Growth Fund – Class 2 (0.30%), American Funds – Growth-Income Fund – Class 2 (0.30%), American Funds -International Fund – Class 2 (0.30%), AllianceBernstein Balanced Wealth Strategy Portfolio – Class B (0.20%), GE Investments Total Return Fund – Class 3 (0.20%), the Franklin Templeton VIP Founding Funds Allocation Fund -Class 4 (0.15%), and the Transamerica BlackRock Global Allocation VP – Service Class (0.10%) . See section “5. Expenses”.

Total Separate Account Annual Expenses with Highest Optional Separate Account Expenses: This reflects the base separate account expenses, the Annual Step-Up Death Benefit fee, plus the Fund Facilitation fee, but does not include any annual optional rider fees. The death benefits are mutually exclusive.

Optional Rider Fees:

Optional Rider Fees: In some cases, riders to the policy are available that provide optional benefits. There are additional fees (each year) for those riders.

Additional Death Distribution Rider and Additional Death Distribution+ Rider: This annual fee is a percentage of the policy value and is only deducted during the accumulation phase.

Living Benefits Rider: The annual fee is a percentage of the “principal back” Total Withdrawal Base. The “principal back” Total Withdrawal Base on the rider date is the policy value (less any premium enhancements if the rider is added in the first policy year). After the rider date, the “principal back” Total Withdrawal Base is equal to: the “principal back” Total Withdrawal Base on the rider date; plus subsequent premium payments; less subsequent “principal back” adjusted partial withdrawals.

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Retirement Income Choice^SM 1.2 Rider, Retirement Income Choice^SM 1.4 and Income Link^SM Rider - base benefit: The fee is a percentage of the Withdrawal Base. The Withdrawal Base on the rider date is the policy value (less any premium enhancement, if the rider is added in the first policy year). During any rider year, the Withdrawal Base is equal to the Withdrawal Base on the rider date or most recent rider anniversary, plus subsequent premium payments, less subsequent Withdrawal Base adjustments.

Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider - Additional Benefits (Single Life and Joint Life Options): You may elect the Retirement Income Choice^SM 1.2 Rider or the Retirement Income Choice^SM 1.4 Rider with one or more of the following options - Death Benefit or Income Enhancement Benefit. The charge for each of these options is a percentage of the Withdrawal Base and is in addition to the base benefit fee.

Maximum Total Retirement Income Choice^SM 1.2, and Maximum Total Retirement Income Choice^SM 1.4 Rider Fees with Highest Combination of Benefits: After the fifth rider anniversary, the base benefit rider fees can increase when there is an automatic step-up. These fee totals reflect the maximum fee increase resulting from an automatic step-up of the Withdrawal Base while the rider is in effect.

Maximum Total Income Link^SM Rider Fees: After the fifth rider anniversary, the base benefit rider fees can increase when there is an automatic step-up. This fee total reflects the maximum fee increase resulting from an automatic step-up of the Withdrawal Base while the rider is in effect.

Maximum Total Retirement Income Choice^SM 1.2 Rider Fees (Joint Life) with Highest Combination of Benefits: This reflects the Base Benefit Designated Allocation Group A (Maximum), the Death Benefit (Joint Life Option), plus the Income Enhancement Benefit (Joint Life Option).

Current Total Retirement Income Choice^SM 1.2 Rider Fees (Joint Life) with Highest Combination of Benefits: This reflects the Base Benefit Designated Allocation Group A (Current), the Death Benefit (Joint Life Option), plus the Income Enhancement Benefit (Joint Life Option).

Maximum Total Retirement Income Choice^SM 1.4 Rider Fees (Joint Life) with Highest Combination of Benefits: This reflects the Base Benefit Designated Allocation Group A (Maximum), the Death Benefit (Joint Life Option), plus the Income Enhancement Benefit (Joint Life Option).

Current Total Retirement Income Choice^SM 1.4 Rider Fees (Joint life) with Highest Combination of Benefits: This reflects the Base Benefit Designated Allocation group A (Current), the Death Benefit (Joint Life Option), plus the Income Enhancement Benefit (Joint Life Option).

Total Portfolio Annual Operating Expenses:

Total Portfolio Annual Operating Expenses: The fee table information relating to the underlying fund portfolios was provided to the Company by the underlying fund portfolios, their investment advisors or managers, and the Company has not and cannot independently verify the accuracy or completeness of such information. Actual future expenses of the portfolios may be greater or less than those shown in the Table.

Expense Examples:

Expense Examples: The Example does not reflect premium tax charges or transfer fees. Different fees and expenses not reflected in the Example may be assessed during the income phase of the policy.

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1. THE ANNUITY POLICY

This prospectus describes the Transamerica Freedom Variable Annuity policy offered by the Company. This prospectus generally describes policies issued on or after the date of this prospectus. Policies issued before that date may have different features (such as different death benefits or annuity payment options) and different charges. See “Appendix—Policy Variations” for information about older policies.

An annuity is a contract between you, the owner, and an insurance company (in this case the Company), where the insurance company promises to pay you an income in the form of annuity payments. These payments begin on a designated date, referred to as the annuity commencement date. Until the annuity commencement date, your annuity is in the accumulation phase and the earnings (if any) are tax deferred. Tax deferral means you generally are not taxed until you take money out of your annuity. After you annuitize, your annuity switches to the income phase.

The policy is a flexible premium deferred variable annuity. You can use the policy to accumulate funds for retirement or other long-term financial planning purposes. Your individual investment and your rights are determined primarily by your own policy.

The policy is a “flexible premium” annuity because after you purchase it, you can generally make additional investments of $50 or more until the annuity commencement date. You are not required to make any additional investments.

The policy is a “variable” annuity because the value of your investments can go up or down based on the performance of your investment choices. If you invest in the separate account, the amount of money you are able to accumulate in your policy during the accumulation phase depends upon the performance of your investment choices. You could lose the amount you allocate to the separate account. The amount of annuity payments you receive during the income phase from the separate account also depends upon the investment performance of your investment choices for the income phase. However, if you annuitize under the Initial Payment Guarantee feature, then you will receive stabilized annuity payments that will never be less than a percentage of your initial variable annuity payment. There is an extra charge for this feature.

The policy also contains a fixed account. The fixed account offers interest at rates that we guarantee will not decrease during the selected guaranteed period. There may be different interest rates for each different guaranteed period that you select.

2. PURCHASE

Policy Issue Requirements

The Company will not issue a policy unless:

• the Company receives in good order (at our Administrative and Service Office) all information needed to issue the policy;

• the Company receives in good order (at our Administrative and Service Office) a minimum initial premium payment; and

• the annuitant, owner, and any joint owner are age 90 or younger (the limit may be lower for qualified policies).

We reserve the right to reject any application or premium payment.

Premium Payments

You should make checks for premium payments payable only to Transamerica Life Insurance Company and send them to the Administrative and Service Office. Your check must be honored in order for us to pay any associated payments and benefits due under the policy.

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We do not accept cash. We reserve the right to not accept third party checks. A third party check is a check that is made payable to one person who endorses it and offers it as payment to a second person. Checks should normally be payable to Transamerica Life Insurance Company, however, in some circumstances, at our discretion we may accept third party checks that are from a rollover or transfer from other financial institutions. Any third party checks not accepted by our company will be returned.

We reserve the right to reject or accept any form of payment. Any unacceptable forms of payment will be returned.

Initial Premium Requirements

The initial premium payment for nonqualified policies must be at least $15,000, and at least $1,000 for qualified policies. You must obtain prior company approval to purchase a policy with an amount less than the stated minimum. There is generally no minimum initial premium payment for policies issued under section 403(b) of the Internal Revenue Code; however, your premium must be received within 90 days of the policy date or your policy will be canceled. We will credit your initial premium payment to your policy within two business days after the day we receive it and your complete policy information at our administrative and service office. If we are unable to credit your initial premium payment, we will contact you within five business days and explain why. We will also return your initial premium payment at that time unless you let us keep it and credit it as soon as possible.

The date on which we credit your initial premium payment to your policy is generally the policy date. The policy date is used to determine policy years, policy months and policy anniversaries.

There may be delays in our receipt of applications that are outside of our control (for example, because of the failure of the selling broker/dealer or sales agent to forward the application to us promptly, or because of delays in determining whether the policy is suitable for you). Any such delays will affect when your policy can be issued and your premium allocated among your investment choices.

Additional Premium Payments

You are not required to make any additional premium payments. However, you can generally make additional premium payments as often as you like during the accumulation phase. Additional premium payments must be at least $50. We will credit additional premium payments to your policy as of the business day we receive your premium and required information in good order at our Administrative and Service Office. Additional premium payments must be received before the close of a regular business session of the New York Stock Exchange (usually 4:00 p.m. Eastern time) to get same-day pricing of the additional premium payment.

Maximum Total Premium Payments

For issue ages 0-80, we reserve the right to reject cumulative premium payments over $1,000,000 (this includes subsequent premium payments) for policies with the same owner or same annuitant issued by us or an affiliate. For issue ages over 80, we reserve the right to reject cumulative premium payments over $500,000 (this includes subsequent premium payments) for policies with the same owner or same annuitant issued by us or an affiliate.

Allocation of Premium Payments

When you purchase a policy, we will allocate your premium payment to the investment choices you select. Your allocation must be in whole percentages and must total 100%. We will allocate additional premium payments the same way, unless you request a different allocation.

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If you allocate premium payments to the Dollar Cost Averaging program, you must give us instructions regarding the subaccount(s) to which transfers are to be made or we cannot accept your premium payment.

You may change allocations for future additional premium payments by sending written instructions to our Administrative and Service Office, or by telephone, subject to the limitations described under “Telephone Transactions”. The allocation change will apply to premium payments received on or after the date we receive the change request in good order.

You could lose the amount you allocate to the variable subaccounts.

The Company reserves the right to restrict or refuse any premium payment.

Policy Value

You should expect your policy value to change from valuation period to valuation period. A valuation period begins at the close of regular trading on the New York Stock Exchange on each business day and ends at the close of regular trading on the next succeeding business day. A business day is each day that the New York Stock Exchange is open. The New York Stock Exchange generally closes at 4:00 p.m. Eastern time. Holidays are generally not business days.

3. INVESTMENT CHOICES

The Separate Account

The following variable subaccounts are available under the policy for new investors, but may not be available for all policies. The subaccounts invest in shares of the various underlying fund portfolios. The companies that provide investment advice and administrative services for the underlying fund portfolios offered through this policy are listed below. The following variable investment choices are currently offered through this policy. Please be certain to review the notes following the list of variable investment choices.

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

Managed by Invesco Advisers, Inc.

Invesco V.I. Basic Value Fund – Series II Shares

Invesco V.I. Capital Appreciation Fund – Series II Shares

ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND, INC.

Managed by AllianceBernstein L.P.

AllianceBernstein Balanced Wealth Strategy Portfolio – Class B

AllianceBernstein Growth and Income Portfolio – Class B

AllianceBernstein Large Cap Growth Portfolio – Class B

AMERICAN FUNDS INSURANCE SERIES TRUST

Managed by Capital Research and Management Company

American Funds – Asset Allocation Fund – Class 2

American Funds – Bond Fund – Class 2

American Funds – Growth Fund – Class 2

American Funds – Growth-Income Fund – Class 2

American Funds – International Fund – Class 2

FIDELITY^® VARIABLE INSURANCE PRODUCTS FUND

Managed by Fidelity Management & Research Company

Fidelity VIP Balanced Portfolio – Service Class 2

Fidelity VIP Contrafund^® Portfolio – Service Class 2

Fidelity VIP Equity-Income Portfolio – Service Class 2

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Fidelity VIP Growth Portfolio – Service Class 2

Fidelity VIP Mid Cap Portfolio – Service Class 2

Fidelity VIP Value Strategies Portfolio – Service Class 2

FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST

Managed by Franklin Advisers, Inc.

Franklin Income Securities Fund – Class 2

Managed by Franklin Mutual Advisers, LLC

Mutual Shares Securities Fund – Class 2

Managed by Templeton Investment Counsel LLC

Templeton Foreign Securities Fund – Class 2

FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST

Fund Administrator: Franklin Templeton Services, LLC

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

GE INVESTMENTS FUNDS, INC.

Managed by GE Asset Management, Inc.

GE Investments Total Return Fund – Class 3

JANUS ASPEN SERIES

Managed by Janus Capital Management LLC

Janus Aspen – Enterprise Portfolio – Service Shares

Janus Aspen – Worldwide Portfolio – Service Shares

MFS^® VARIABLE INSURANCE TRUST

Managed by MFS^® Investment Management

MFS^® New Discovery Series – Service Class

MFS^® Total Return Series – Service Class

TRANSAMERICA SERIES TRUST

Portfolio Construction Manager: Morningstar Associates, LLC

Transamerica Asset Allocation – Conservative VP – Service

Class Transamerica Asset Allocation – Growth VP – Service Class

Transamerica Asset Allocation – Moderate VP – Service Class

Transamerica Asset Allocation – Moderate Growth VP – Service Class

Transamerica International Moderate Growth VP – Service Class

Subadvised by AEGON USA Investment Management, LLC

Transamerica AEGON High Yield Bond VP – Service Class

Transamerica Efficient Markets VP – Service Class

Transamerica Index 35 VP – Service Class

Transamerica Index 50 VP – Service Class

Transamerica Index 75 VP – Service Class

Transamerica Index 100 VP – Service Class

Subadvised by BlackRock Financial Management, Inc.

Transamerica BlackRock Tactical Allocation VP – Service Class

Subadvised by BlackRock Investment Management, LLC

Transamerica BlackRock Large Cap Value VP – Service Class

Subadvised by Foxhall Capital Management, Inc.

Transamerica Foxhall Emerging Markets/Pacific Rim VP – Service Class

Transamerica Foxhall Global Conservative VP – Service Class

Transamerica Foxhall Global Growth VP – Service Class

Transamerica Foxhall Global Hard Asset VP – Service Class

Subadvised by Hanlon Investment Management, Inc.

Transamerica Hanlon Balanced VP – Service Class

Transamerica Hanlon Growth VP – Service Class

Transamerica Hanlon Growth and Income VP – Service Class

Transamerica Hanlon Managed Income VP – Service Class

Subadvised by ING Clarion Real Estate Securities, L.P.

Transamerica Clarion Global Real Estate Securities VP – Service Class

Subadvised by J.P. Morgan Investment Management Inc.

Transamerica JPMorgan Enhanced Index VP – Service Class

22

Transamerica JPMorgan Mid Cap Value VP – Service Class

Subadvised by Jennison Associates LLC

Transamerica Jennison Growth VP – Service Class

Subadvised by MFS^® Investment Management

Transamerica MFS International Equity VP – Service Class

Subadvised by Morgan Stanley Investment Management Inc.

Transamerica Morgan Stanley Active International Allocation VP – Service Class

Transamerica Multi Managed Large Cap Core VP – Service Class

Subadvised by Pacific Investment Management Company LLC

Transamerica PIMCO Total Return VP – Service Class

Subadvised by T. Rowe Price Associates, Inc.

Transamerica T. Rowe Price Small Cap VP – Service Class

Advised by Transamerica Asset Management, Inc.

Transamerica BlackRock Global Allocation VP – Service Class

Subadvised by Transamerica Investment Management, LLC

Transamerica Balanced VP – Service Class

Transamerica Convertible Securities VP – Service Class

Transamerica Diversified Equity VP – Service Class

Transamerica Focus VP – Service Class

Transamerica Growth Opportunities VP – Service Class

Transamerica Money Market VP – Service Class

Transamerica Small/Mid Cap Value VP – Service Class

Transamerica U.S. Government Securities VP – Service Class

Subadvised by Van Kampen Asset Management

Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class

Subadvised by Wellington Management Company, LLP

Transamerica WMC Diversified Growth VP – Service Class

NOTES TO VARIABLE INVESTMENT CHOICES

Some subaccounts may be available for certain policies and may not be available for all policies. You should work with your registered representative to decide which subaccount(s) may be appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons, and risk tolerance.

There can be no assurance that the Transamerica Money Market VP - Service Class portfolio will be able to maintain a stable net asset value per share. During extended periods of low interest rates, and partly as a result of policy charges, the yield on the Transamerica Money Market VP - Service Class subaccount may become extremely low and possibly negative.

Transamerica Series Trust - Service Class - As of May 1, 2003, new policyholders may only invest in the Service Class subaccounts. The Initial Class subaccounts are only available to policyholders that purchased the policy before May 1, 2003.

AIM Variable Insurance Funds (Invesco Variable Insurance Funds) – formerly AIM Variable Insurance Funds.

Invesco Aim Advisors, Inc. merged into Invesco Institutional (N.A), Inc., and then Invesco Institutional (N.A), Inc., was renamed Invesco Advisers, Inc.

References to “AIM” have been replaced with “Invesco” due to branding changes.

Transamerica AEGON High Yield Bond VP - Service Class, formerly known as Transamerica MFS High Yield VP - Service Class and formerly subadvised by MFS Investment Management.

Transamerica Capital Guardian Value VP - Service Class merged into Transamerica BlackRock Large Cap Value VP - Service Class.

Transamerica American Century Large Company Value VP - Service Class merged into BlackRock Large Cap Value VP - Service Class.

23

Transamerica T. Rowe Price Equity Income VP - Service Class merged into BlackRock Large Cap Value VP - Service Class.

Transamerica T. Rowe Price Growth Stock VP - Service Class merged into Transamerica Jennison Growth VP - Service Class.

Transamerica Marsico Growth VP - Service Class merged into Transamerica Jennison Growth VP - Service Class

Transamerica Morgan Stanley Active International Allocation VP, formerly known as Transamerica Van Kampen Active International Allocation VP.

Transamerica Multi Managed Large Cap Core VP, formerly known as Transamerica Van Kampen Large Cap Core VP.

Transamerica Value Balanced VP - Service Class merged into Transamerica Balanced VP - Service Class.

Transamerica Diversified Equity VP - Service Class formerly known as Transamerica Templeton Global VP - Service Class.

Transamerica Science & Technology VP - Service Class merged into Transamerica Templeton Global VP - Service Class.

Transamerica Focus VP - Service Class, formerly known as Transamerica Legg Mason Partners All Cap VP- Service Class and formerly subadvised by ClearBridge Advisors LLC.

Transamerica Morgan Stanley Mid-Cap Growth VP, formerly known as Transamerica Van Kampen Mid-Cap Growth VP.

Transamerica WMC Diversified Growth VP, formerly known as Transamerica Equity VP and formerly subadvised by Transamerica Investment Management, LLC.

The following subaccounts are only available to owners that held an investment in those subaccounts on May 1, 2002. However, if any such owner surrenders all of his or her money from these subaccounts after May 1, 2002, that owner may not reinvest in those subaccounts.

JANUS ASPEN SERIES

Managed by Janus Capital Management LLC

Janus Aspen – Perkins Mid Cap Value Portfolio -Service Shares

Janus Aspen – Perkins Mid Cap Value Portfolio, formerly known as Janus Aspen – Mid Cap Value Portfolio.

FIDELITY^® VARIABLE INSURANCE PRODUCTS FUND

Managed by Fidelity Management & Research Company

Fidelity VIP Growth Opportunities Portfolio – Service Class 2

The following subaccount is only available to owners that held an investment in this subaccount on July 1, 2002. However, if any such owner surrenders all of his or her money from this subaccount after July 1, 2002, that owner may not reinvest in this subaccount.

TRANSAMERICA SERIES TRUST

Subadvised by Transamerica Investment Management, LLC

Transamerica Small/Mid Cap Value VP – Initial Class

The general public may not purchase shares of any of these underlying fund portfolios. The names and investment objectives and policies may be similar to other portfolios managed by the same investment advisor or manager that are sold directly to the public. You should not expect the investment results of the underlying fund portfolios to be the same as those of other portfolios.

More detailed information, including an explanation of the portfolios’ fees and investment objectives, may be found in the current prospectuses for the underlying fund portfolios, which accompany this prospectus. You should read the prospectuses for the underlying fund portfolios carefully before you invest.

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Selection of Underlying Portfolios

The underlying fund portfolios offered through this product are selected by the Company, and the Company may consider various factors, including, but not limited to, asset class coverage, the strength of the adviser’s or sub-adviser’s reputation and tenure, brand recognition, performance, and the capability and qualification of each investment firm. Another factor that we may consider is whether the underlying fund portfolio or its service providers (e.g., the investment adviser or sub-advisers) or its affiliates will make payments to us or our affiliates. For additional information about these arrangements, see “Revenue We Receive.” We review the portfolios periodically and may remove a portfolio, or limit its availability to new premiums and/or transfers of cash value if we determine that a portfolio no longer satisfies one or more of the selection criteria, and/or if the portfolio has not attracted significant allocations from owners. We have included the Transamerica Series Trust (“TST”) underlying fund portfolios at least in part because they are managed by one of our affiliates, Transamerica Asset Management, Inc. (“TAM”).

We have developed this variable annuity product in cooperation with one or more distributors, and have included certain underlying fund portfolios based on their recommendations; their selection criteria may differ from our selection criteria.

You are responsible for choosing the subaccounts which invest in the underlying fund portfolios, and the amounts allocated to each, that are appropriate for your own individual circumstances and your investment goals, financial situation, and risk tolerance. Because investment risk is borne by you, decisions regarding investment allocations should be carefully considered.

In making your investment selections, we encourage you to thoroughly investigate all of the information regarding the underlying fund portfolios that are available to you, including each underlying fund portfolio’s prospectus, statement of additional information and annual and semi-annual reports. Other sources such as the Fund’s website or newspapers and financial and other magazines provide more current information, including information about any regulatory actions or investigations relating to a Fund or underlying fund portfolio. After you select underlying fund portfolios for your initial premium, you should monitor and periodically re-evaluate your allocations to determine if they are still appropriate.

You bear the risk of any decline in the cash value of your policy resulting from the performance of the underlying fund portfolios you have chosen.

We do not recommend or endorse any particular underlying fund portfolio and we do not provide investment advice.

We do not guarantee that any of the subaccounts will always be available for premium payments, allocations, or transfers. We reserve the right, subject to compliance with applicable law, to make certain changes to the separate account and its investments. We reserve the right to add new portfolios [or portfolio classes], close existing portfolios [or portfolio classes], or substitute portfolio shares that are held by any subaccount for shares of a different portfolio. We will not add, delete or substitute any underlying fund portfolio shares attributable to your interest in a subaccount without notice to you and prior approval of the SEC, to the extent required by the 1940 Act or other applicable law.

We reserve the right to limit the number of subaccounts you are invested in at any one time.

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Addition, Deletion, or Substitution of Investments

The Company cannot and does not guarantee that any of the subaccounts will always be available for premium payments, allocations, or transfers. The Company retains the right, subject to any applicable law, to make certain changes in the separate account and its investments. The Company reserves the right to eliminate the shares of any portfolio held by a subaccount and to substitute shares of another portfolio of the underlying fund portfolios, or of another registered open-end management investment company for the shares of any portfolio, if the shares of the portfolio are no longer available for investment or if, in the Company’s judgment, investment in any portfolio would be inappropriate in view of the purposes of the separate account. To the extent required by the 1940 Act, as amended, substitutions of shares attributable to your interest in a subaccount will not be made without prior notice to you and the prior approval of the Securities and Exchange Commission (“SEC”). Nothing contained herein shall prevent the separate account from purchasing other securities for other series or classes of variable annuity policies, or from affecting an exchange between series or classes of variable annuity policies on the basis of your requests.

New subaccounts may be established when, in the sole discretion of the Company, marketing, tax, investment or other conditions warrant. Any new subaccounts may be made available to existing owners on a basis to be determined by the Company. Each additional subaccount will purchase shares in a mutual fund portfolio, or other investment vehicle. The Company may also eliminate one or more subaccounts if, in its sole discretion, marketing, tax, investment or other conditions warrant such change. In the event any subaccount is eliminated, the Company will notify you and request a reallocation of the amounts invested in the eliminated subaccount.

Similarly, the Company may, at its discretion, close a subaccount to new investment (either transfers or premium payments). Any amounts that would otherwise be invested in a closed subaccount (for premium allocations, portfolio rebalancing, dollar cost averaging, automatic checking account or payroll deductions for period premiums, etc.) will, if you do not provide instructions for a new allocation be invested in the subaccount that invests in a portfolio of money market instruments. If a portfolio of money market instruments is unavailable, the Company will reinvest the amounts in another subaccount, or in the fixed account, if appropriate.

In the event of any such substitution or change, the Company may, by appropriate endorsement, make such changes in the policies as may be necessary or appropriate to reflect such substitution or change. Furthermore, if deemed to be in the best interests of persons having voting rights under the policies, the separate account may be (1) operated as a management company under the 1940 Act or any other form permitted by law, (2) deregistered under the 1940 Act in the event such registration is no longer required or (3) combined with one or more other separate accounts. To the extent permitted by applicable law, the Company also may (1) transfer the assets of the separate account associated with the policies to another account or accounts, (2) restrict or eliminate any voting rights of owners or other persons who have voting rights as to the separate account, (3) create new separate accounts, (4) add new subaccounts to or remove existing subaccounts from the separate account, or combine subaccounts, or (5) add new underlying fund portfolios, or substitute a new fund for an existing fund.

The Fixed Account

Premium payments allocated and amounts transferred to the fixed account become part of the Company’s general account. Interests in the general account have not been registered under the Securities Act of 1933 (the “1933 Act”), nor is

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the general account registered as an investment company under the 1940 Act. Accordingly, neither the general account nor any interests therein are generally subject to the provisions of the 1933 or 1940 Acts. Disclosures relating to interests in the general account may, however, be subject to certain generally applicable provisions of the federal securities laws relating to the accuracy of statements made in a registration statement.

While we do not guarantee that the fixed account will always be available for investment, we do guarantee that the interest credited to the fixed account will not be less than the guaranteed minimum effective annual interest rate shown on your policy (the “guaranteed minimum”). We determine credited rates, which are guaranteed for at least one year, in our sole discretion. You bear the risk that we will not credit interest greater than the guaranteed minimum. At the end of the guaranteed period option you selected, the value in that guaranteed period option will automatically be transferred into a new guaranteed period option of the same length (or the next shorter period if the same period is no longer offered) at the current interest rate for that period. You can transfer to another investment choice by giving us notice within 30 days before the end of the expiring guaranteed period.

Full and partial surrenders and transfers from a guaranteed period option of the fixed account are generally subject to an excess interest adjustment (except at the end of the guaranteed period). This adjustment will also be made to amounts that you apply to an annuity payment option. This adjustment may increase or decrease the amount of interest credited to your policy. The excess interest adjustment will not decrease the interest credited to your policy below the guaranteed minimum.

We also guarantee that upon full surrender your cash value attributable to the fixed account will not be less than the amount required by the applicable nonforfeiture law at the time the policy is issued.

If you select the fixed account, your money will be placed with the Company’s other general assets. The amount of money you are able to accumulate in the fixed account during the accumulation phase depends upon the total interest credited. The amount of each annuity payment you receive during the income phase from the fixed portion of your policy will remain level for the entire income phase.

We reserve the right to refuse any premium payment or transfer to the fixed account.

Transfers

During the accumulation phase, you may make transfers to or from any investment choice within certain limitations.

Transfers out of a guaranteed period option of the fixed account are limited to the following:

• Transfers at the end of a guaranteed period. No excess interest adjustment will apply.

• Transfers of amounts equal to interest credited. This may affect your overall interest-crediting rate, because transfers are deemed to come from the oldest premium payment first.

• Other than at the end of a guaranteed period, transfers of amounts from the guaranteed period option in excess of amounts equal to interest credited, are subject to an excess interest adjustment. If it is a negative adjustment, the maximum amount you can transfer in any one policy year is 25% of the amount in that guaranteed period option, less any previous transfers during the current policy year. If it is a positive adjustment, we do not limit the amount that you can transfer.

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Each transfer must be at least $500, or the entire subaccount value. Transfers of interest from a guaranteed period option of the fixed account must be at least $50. If less than $500 remains as a result of the transfer, then we reserve the right to include that amount in the transfer. Transfer requests must be received in good order at our Administrative and Service Office while the New York Stock Exchange is open for regular trading to get same-day pricing of the transaction.

The number of transfers permitted may be limited and a $10 charge for each transfer in excess of 12 in any policy year may apply. We reserve the right to prohibit transfers to the fixed account.

During the income phase, you may transfer values out of any subaccount; however, you cannot transfer values out of the fixed account. The minimum amount that can be transferred during this phase is the lesser of $10 of monthly income, or the entire monthly income of the annuity units in the subaccount from which the transfer is being made.

Transfers made by telephone are subject to the limitations described below under “Telephone Transactions.”

Market Timing and Disruptive Trading

Statement of Policy. This variable insurance product was not designed for the use of market timers or frequent or disruptive traders. (Frequent transfers are considered to be disruptive.) Such transfers may be harmful to the underlying fund portfolios and increase transaction costs.

Market timing and disruptive trading among the subaccounts or between the subaccounts and the fixed account can cause risks with adverse effects for other policy owners (and beneficiaries and underlying fund portfolios). These risks and harmful effects include:

(1) dilution of the interests of long-term investors in a subaccount if purchases or transfers into or out of an underlying fund portfolio are made at prices that do not reflect an accurate value for the underlying fund portfolio’s investments (some market timers attempt to do this through methods known as “time-zone arbitrage” and “liquidity arbitrage”);

(2) an adverse effect on portfolio management, such as:

(a) impeding a portfolio manager’s ability to sustain an investment objective;

(b) causing the underlying fund portfolio to maintain a higher level of cash than would otherwise be the case; or

(c) causing an underlying fund portfolio to liquidate investments prematurely (or otherwise at an inopportune time) in order to pay withdrawals or transfers out of the underlying fund portfolio; and

(3) increased brokerage and administrative expenses.

These costs are borne by all policy owners invested in those subaccounts, not just those making the transfers.

We have developed policies and procedures with respect to market timing and disruptive trading (which vary for certain subaccounts at the request of the corresponding underlying fund portfolios) and we do not make special arrangements or grant exceptions to accommodate market timing or potentially disruptive trading. As discussed herein, we cannot detect or deter all market timing or potentially disruptive trading. Do not invest with us if you intend to conduct market timing or potentially disruptive trading.

Detection. We employ various means in an attempt to detect and deter market timing and disruptive trading. However, despite our monitoring we may not be able to detect nor halt all harmful trading. In addition, because other insurance companies (and retirement plans) with different policies and procedures may invest in the underlying fund

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portfolios, we cannot guarantee that all harmful trading will be detected or that an underlying fund portfolio will not suffer harm from market timing and disruptive trading among subaccounts of variable products issued by these other insurance companies or retirement plans.

Deterrence. If we determine you are engaged in market timing or disruptive trading, we may take one or more actions in an attempt to halt such trading. Your ability to make transfers is subject to modification or restriction if we determine, in our sole opinion, that your exercise of the transfer privilege may disadvantage or potentially harm the rights or interests of other policy owners (or others having an interest in the variable insurance products). As described below, restrictions may take various forms, but under our current policies and procedures will include loss of expedited transfer privileges. We consider transfers by telephone, fax, overnight mail, or the Internet to be “expedited” transfers. This means that we would accept only written transfer requests with an original signature transmitted to us only by U.S. mail. We may also restrict the transfer privileges of others acting on your behalf, including your registered representative or an asset allocation or investment advisory service.

We reserve the right to reject any premium payment or transfer request from any person without prior notice, if, in our judgment, (1) the payment or transfer, or series of transfers, would have a negative impact on an underlying fund portfolio’s operations, or (2) if an underlying fund portfolio would reject or has rejected our purchase order or has instructed us not to allow that purchase or transfer, or (3) because of a history of market timing or disruptive trading. We may impose other restrictions on transfers, or even prohibit transfers for any owner who, in our view, has abused, or appears likely to abuse, the transfer privilege on a case-by-case basis. We may, at any time and without prior notice, discontinue transfer privileges, modify our procedures, impose holding period requirements or limit the number, size, frequency, manner, or timing of transfers we permit. Because determining whether to impose any such special restrictions depends on our judgement and discretion, it is possible that some policy owners could engage in disruptive trading that is not permitted for others. We also reserve the right to reverse a potentially harmful transfer if an underlying fund portfolio refuses or reverses our order; in such instances some policy owners may be treated differently than others in that some transfers may be reversed and others allowed. For all of these purposes, we may aggregate two or more variable insurance products that we believe are connected.

Please note: If you engage a third party investment advisor for asset allocation services, then you may be subject to these transfer restrictions because of the actions of your investment advisor in providing these services.

In addition to our internal policies and procedures, we will administer your variable insurance product to comply with any applicable state, federal, and other regulatory requirements concerning transfers. We reserve the right to implement, administer, and charge you for any fee or restriction, including redemption fees, imposed by any underlying fund portfolio. To the extent permitted by law, we also reserve the right to defer the transfer privilege at any time that we are unable to purchase or redeem shares of any of the underlying fund portfolios.

Under our current policies and procedures, we do not:

• impose redemption fees on transfers; or

• expressly limit the number or size of transfers in a given period except for certain subaccounts where an underlying fund portfolio has advised us to prohibit certain transfers that exceed a certain size; or

• provide a certain number of allowable transfers in a given period.

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Redemption fees, transfer limits, and other procedures or restrictions may be more or less successful than ours in deterring market timing or other disruptive trading and in preventing or limiting harm from such trading.

In the absence of a prophylactic transfer restriction (e.g., expressly limiting the number of trades within a given period or limiting trades by their size), it is likely that some level of market timing and disruptive trading will occur before it is detected and steps taken to deter it (although some level of market timing and disruptive trading can occur even with a prophylactic transfer restriction). As noted above, we do not impose a prophylactic transfer restriction and, therefore, it is likely that some level of market timing and disruptive trading will occur before we are able to detect it and take steps in an attempt to deter it.

Please note that the limits and restrictions described herein are subject to our ability to monitor transfer activity. Our ability to detect market timing or disruptive trading may be limited by operational and technological systems, as well as by our ability to predict strategies employed by policy owners (or those acting on their behalf) to avoid detection. As a result, despite our efforts to prevent harmful trading activity among the variable investment choices available under this variable insurance product, there is no assurance that we will be able to detect or deter market timing or disruptive trading by such policy owners or intermediaries acting on their behalf. Moreover, our ability to discourage and restrict market timing or disruptive trading may be limited by decisions of state regulatory bodies and court orders that we cannot predict.

Furthermore, we may revise our policies and procedures in our sole discretion at any time and without prior notice, as we deem necessary or appropriate (1) to better detect and deter harmful trading that may adversely affect other policy owners, other persons with material rights under the variable insurance products, or underlying fund shareholders generally, (2) to comply with state or federal regulatory requirements, or (3) to impose additional or alternative restrictions on owners engaging in market timing or disruptive trading among the investment choices under the variable insurance product. In addition, we may not honor transfer requests if any variable investment choice that would be affected by the transfer is unable to purchase or redeem shares of its corresponding underlying fund portfolio.

Underlying Fund Portfolio Frequent Trading Policies. The underlying fund portfolios may have adopted their own policies and procedures with respect to frequent purchases and redemptions of their respective shares. Underlying fund portfolios may, for example, assess a redemption fee (which we reserve the right to collect) on shares held for less than a certain period of time. The prospectuses for the underlying fund portfolios describe any such policies and procedures. The frequent trading policies and procedures of an underlying fund portfolio may be different, and more or less restrictive, than the frequent trading policies and procedures of other underlying fund portfolios and the policies and procedures we have adopted for our variable insurance products to discourage market timing and disruptive trading. Policy owners should be aware that we may not have the contractual ability or the operational capacity to monitor policy owners’ transfer requests and apply the frequent trading policies and procedures of the respective underlying funds that would be affected by the transfers. Accordingly, policy owners and other persons who have material rights under our variable insurance products should assume that any protection they may have against potential harm from market timing and disruptive trading is the protection, if any, provided by the policies and procedures we have adopted for our variable insurance products to discourage market timing and disruptive trading in certain subaccounts.

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Policy owners should be aware that we are required to provide to an underlying fund portfolio or its designee, promptly upon request, certain information about the trading activity of individual policy owners, and to restrict or prohibit further purchases or transfers by specific policy owners identified by an underlying fund portfolio as violating the frequent trading policies established for the portfolio.

Omnibus Orders. Policy owners and other persons with material rights under the variable insurance products also should be aware that the purchase and redemption orders received by the underlying fund portfolios generally are “omnibus” orders from intermediaries such as retirement plans and separate accounts funding variable insurance products. The omnibus orders reflect the aggregation and netting of multiple orders from individual retirement plan participants and individual owners of variable insurance products. The omnibus nature of these orders may limit the underlying fund portfolios’ ability to apply their respective frequent trading policies and procedures. We cannot guarantee that the underlying fund portfolios will not be harmed by transfer activity relating to the retirement plans or other insurance companies that may invest in the underlying fund portfolios. These other insurance companies are responsible for their own policies and procedures regarding frequent transfer activity. If their policies and procedures fail to successfully discourage harmful transfer activity, it will affect other owners of underlying fund portfolio shares, as well as the owners of all of the variable annuity or life insurance policies, including ours, whose variable investment choices correspond to the affected underlying fund portfolios. In addition, if an underlying fund portfolio believes that an omnibus order we submit may reflect one or more transfer requests from owners engaged in market timing and disruptive trading, the underlying fund portfolio may reject the entire omnibus order and thereby delay or prevent us from implementing your request.

4. PERFORMANCE

The Company periodically advertises performance of the various subaccounts. Performance figures might not reflect charges for options, riders, or endorsements. We may disclose at least three different kinds of non-standard performance. First, we may calculate performance by determining the percentage change in the value of an accumulation unit by dividing the increase (decrease) for that unit by the value of the accumulation unit at the beginning of the period. This performance number reflects the deduction of the mortality and expense risk fees and administrative charges. It does not reflect the deduction of any applicable premium taxes, or fees for any optional riders or endorsements. Any such deduction would reduce the percentage increase or make greater any percentage decrease.

Second, advertisements may also include total return figures, which reflect the deduction of the mortality and expense risk fees and administrative charges. These figures may also reflect the premium enhancement, if any.

Third, for certain investment portfolios, performance may be shown for the period commencing from the inception date of the investment portfolio (i.e., before commencement of subaccount operations). These figures should not be interpreted to reflect actual historical performance of the subaccounts.

Not all types of performance data presented reflect all of the fees and charges that may be deducted (such as fees for optional benefits); performance figures would be lower if these charges were included.

5. EXPENSES

Note: The following section on expenses and the Annuity Policy Fee Table and Expense Examples only apply to policies issued after the date of this prospectus. See “Appendix - Policy Variations” for information about older policies.

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There are charges and expenses associated with your policy that reduce the return on your investment in the policy.

Excess Interest Adjustment

Surrenders and transfers from the fixed account may be subject to an excess interest adjustment. This adjustment could retroactively reduce the interest credited in the fixed account to the guaranteed minimum or increase the amount credited. This adjustment may also apply to amounts applied to an annuity payment option. Please see “Appendix - Excess Interest Adjustment Examples” for an example showing the effect of a hypothetical excess interest adjustment calculation.

Mortality and Expense Risk Fees

We charge a fee as compensation for bearing certain mortality and expense risks under the policy. This fee is assessed daily based on the net asset value of each subaccount. Examples of such risks include a guarantee of annuity rates, the death benefit, certain expenses of the policy, and assuming the risk that the current charges will be insufficient in the future to cover costs of administering the policy. We may also pay distribution expenses out of this charge.

During the accumulation phase:

• For the Return of Premium Death Benefit, the daily mortality and expense risk fee is at an annual rate of 1.55%.

• For the Annual Step-Up Death Benefit, the daily mortality and expense risk fee is at an annual rate of 1.75%.

During the income phase, the mortality and expense risk fee is at an annual rate of 1.10%.

If this charge does not cover our actual costs, we absorb the loss. Conversely, if the charge more than covers actual costs, the excess is added to our surplus.

We expect to profit from this charge. We may use any profit for any proper purpose, including distribution expenses.

Premium Taxes

Some states assess premium taxes on the premium payments you make. We currently do not deduct for these taxes at the time you make a premium payment. However, we will deduct the total amount of premium taxes, if any, from the policy value when:

• you begin receiving annuity payments;

• you surrender the policy; or

• a death benefit is paid.

State premium taxes currently range from 0% to 3.50%, depending on the state.

Federal, State and Local Taxes

We may in the future deduct charges from the policy for any taxes we incur because of the policy. However, no deductions are being made at the present time.

Special Service Fees

We will deduct a charge for special services, such as overnight delivery, up to $25 per service provided.

Transfer Fee

You are generally allowed to make 12 free transfers per policy year before the annuity commencement date. If you make more than 12 transfers per year, we reserve the right to charge $10 for each additional transfer. Premium payments, Asset Rebalancing, and Dollar Cost Averaging transfers do not count as one of your free transfers. All transfer requests made at the same time are treated as a single transfer.

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Administrative Charges

We deduct a daily administrative charge to cover the costs of administering the policy (including certain distribution-related expenses). This charge is equal to an annual rate of 0.15% of the daily net asset value of each subaccount during both the accumulation phase and the income phase.

In addition, during the accumulation phase, an annual service charge of $35 (but not more than 2% of the policy value) is charged on each policy anniversary and at surrender. The service charge is waived if your policy value or the sum of your premiums, less all partial surrenders, is at least $50,000.

Initial Payment Guarantee

If you elect the Initial Payment Guarantee feature at the time of annuitization, there is a fee (during the income phase) currently at an annual rate of 1.25% of the daily net asset value. This fee may be higher or lower at the time you annuitize and elect the feature.

Fund Facilitation Fee

We charge a fund facilitation fee in order to make certain funds available as investment choices under the policies. This fee is assessed daily based on the net asset value of subaccounts that we specify. The fund facilitation fee, expressed as an annual rate is:

• 0.30% if you choose the American Funds - Asset Allocation Fund - Class 2

• 0.30% if you choose the American Funds -Bond Fund - Class 2

• 0.30% if you choose the American Funds -Growth Fund - Class 2

• 0.30% if you choose the American Funds -Growth-Income Fund - Class 2

• 0.30% if you choose the American Funds -International Fund - Class 2

• 0.20% if you choose the AllianceBernstein Balanced Wealth Strategy Portfolio - Class B

• 0.20% if you choose the GE Investments Total Return Fund - Class 3

• 0.15% if you choose the Franklin Templeton VIP Founding Funds Allocation Fund - Class 4

• 0.10 % if you choose the Transamerica BlackRock Global Allocation VP - Service Class

Additional Death Distribution

If you elect the Additional Death Distribution, there is an annual rider fee during the accumulation phase of 0.25% of the policy value. The rider fee will be deducted on each rider anniversary and upon termination of the rider during the accumulation phase. The rider fee(s) is deducted from each investment choice in proportion to the amount of policy value in each investment choice.

Additional Death Distribution+

If you elect the Additional Death Distribution+, there is an annual rider fee during the accumulation phase of 0.55% of the policy value. The rider fee will be deducted on each rider anniversary and upon termination of the rider during the accumulation phase. The rider fee(s) is deducted from each investment choice in proportion to the amount of policy value in each investment choice.

Life with Emergency Cash^® Surrender Charge

If you select the Life with Emergency Cash^® annuity payment option, then you can surrender your policy even after annuity payments have begun. However, there is a surrender charge during the first four years after the annuity commencement date (no matter which policy or variation thereof you previously purchased). The following schedule shows the current surrender charge:

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Number of Years Since Annuity Commencement Date	Surrender Charge (as a percentage of adjusted policy value)
0 - 1	4	%
1 - 2	3	%
2 - 3	2	%
3 - 4	1	%
more than 4	0	%

We can change the surrender charge, and you will be subject to whatever surrender schedule is in effect at the time you annuitize under the Life with Emergency Cash^® annuity payment option.

Note carefully the following three things about this surrender charge:

• this surrender charge is measured from the annuity commencement date and not from the premium payment date;

• this surrender charge is a percentage of the adjusted policy value applied to the Life with Emergency Cash^® annuity payment option, and not a percentage of premium; and

• under this payment option, there is no surrender charge free amount.

Living Benefits Rider

If you elect the Living Benefits Rider, there is an annual rider fee of 0.90% of the “principal back” total withdrawal base on each rider anniversary before annuitization. We will also deduct the rider fee upon full surrender of the policy or other termination of the rider. The rider fee is deducted from each investment choice in proportion to the amount of policy value in each investment choice. Generally, the rider fee is deducted regardless of your values (i.e., even if your policy value exceeds your total withdrawal base).

We will continue to calculate the rider fee using the “principal back” total withdrawal base even after the “principal back” minimum remaining withdrawal amount reaches zero. The “principal back” total withdrawal base is always greater than or equal to the “for life” total withdrawal base.

Retirement Income Choice^SM 1.2 Rider and Additional Options Fees

If you elect the Retirement Income Choice^SM 1.2 rider, then the rider fee, which is charged quarterly before annuitization, depends on the allocation option that you choose. If you choose the Open Allocation option, then the fee for the base benefit (for either single or joint life) is 1.10% ( on an annual basis) of the withdrawal base. If you choose the Designated Investment option, then the fee for the base benefit (for single or joint life) is 1.25%, 0.90%, and 0.40% (on an annual basis) of the withdrawal base for allocating 100% of your policy value in Designated Allocation Allocation Group A, Designated Allocation Group B, or Designated Allocation Group C, respectively. If you elect a combination of designated investment options among various classes, then your fee will be based on a weighted average of your choices. If you elect options with the Retirement Income Choice^SM 1.2 rider, then for each option you elect, you will be charged a fee that is a percentage of the withdrawal base on each rider quarter before annuitization, and is in addition to the rider fee for the base benefit. The additional fees, on an annual basis, are as follows:

Options	Single Life Option		Joint Life Option
Death Benefit	0.25	%	0.20	%
Income Enhancement Benefit	0.15	%	0.30	%

We will also deduct any rider fee pro rata upon full surrender of the policy or other termination of the rider. The rider fee(s) is deducted from each investment choice in proportion to the amount of policy value in each investment choice.

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Retirement Income Choice^SM 1.4 Rider and Additional Options Fees

If you elect the Retirement Income Choice^SM 1.4 rider, then the rider fee, which is charged quarterly before annuitization, is 1.25%, 0.90%, and 0.40% (on an annual basis) of the withdrawal base for allocating 100% of your policy value in Designated Allocation Allocation Group A, Designated Allocation Group B, or Designated Allocation Group C, respectively. If you elect a combination of designated investment options among various classes, then your fee will be based on a weighted average of your choices. If you elect options with the Retirement Income Choice^SM 1.4 rider, then for each option you elect, you will be charged a fee that is a percentage of the withdrawal base on each rider quarter before annuitization, and is in addition to the rider fee for the base benefit. The additional fees, on an annual basis, are as follows:

Options	Single Life Option		Joint Life Option
Death Benefit	0.25	%	0.20	%
Income Enhancement Benefit	0.15	%	0.30	%

We will also deduct any rider fee pro rata upon full surrender of the policy or other termination of the rider. The rider fee(s) is deducted from each investment choice in proportion to the amount of policy value in each investment choice.

Income Link^SM Rider Fee

If you elect the Income Link^SM rider, then the rider fee, which is charged quarterly before annuitization, is 0.90% (on an annual basis) of the withdrawal base.

We will also deduct the rider fee pro rata upon full surrender of the policy or other termination of the rider. The rider fee is deducted from each investment choice in proportion to the amount of policy value in each investment choice.

Portfolio Fees and Expenses

The value of the assets in each subaccount will reflect the fees and expenses paid by the underlying fund portfolios. The lowest and highest fund expenses for the previous calendar year are found in the Annuity Policy Fee Table section of this prospectus. See the prospectuses for the underlying fund portfolios for more information.

Revenue We Receive

We (and our affiliates) may directly or indirectly receive payments from the underlying fund portfolios, their advisers, subadvisers, distributors or affiliates thereof, in connection with certain administrative, marketing and other services we (and our affiliates) provide and expenses we incur. We (and/or our affiliates) generally receive three types of payments:

• Rule 12b-1 Fees. Our affiliate TCI is the principal underwriter for the policies and receives some or all of the 12b-1 fees from the funds. Any 12b-1 fees received by TCI that are attributable to our variable insurance products are then credited to us. These fees range from 0.00% to 0.25% of the average daily assets of the certain underlying fund portfolios attributable to the policies and to certain other variable insurance products that we and our affiliates issue.

• Administrative, Marketing and Support Service Fees (“Support Fees”). As noted above, an investment adviser, sub-adviser, administrator and/or distributor (or affiliates thereof) of the underlying fund portfolios may make payments to us and/or our affiliates, including TCI. These payments may be derived, in whole or in part, from the profits the investment advisor or sub-adviser realized on the advisory fee deducted from underlying fund portfolio assets. Policy owners, through their indirect investment in the underlying fund portfolios, bear the costs of these advisory fees (see the prospectuses for the

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underlying funds for more information). The amount of the payments we (or our affiliates) receive is generally based on a percentage of the assets of the particular underlying fund portfolios attributable to the policy and to certain other variable insurance products that our affiliates and we issue. These percentages differ and the amounts may be significant. Some advisers or sub-advisers (or other affiliates) pay us more than others.

The following chart provides the maximum combined percentages of 12b-1 fees and Support Fees that we anticipate will be paid to us on an annual basis:

Incoming Payments to the Company and TCI

Fund	Maximum Fee % of assets
TRANSAMERICA SERIES TRUST	0.25	%
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)	0.50	%
ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND, INC.	0.45	%
AMERICAN FUNDS INSURANCE SERIES TRUST	0.25	%
FIDELITY® VARIABLE INSURANCE PRODUCTS FUND	0.35	%
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST	0.35	%
GE INVESTMENTS FUNDS, INC.	0.45	%
JANUS ASPEN SERIES	0.25	%
MFS® VARIABLE INSURANCE TRUST	0.45	%

NOTES TO INCOMING PAYMENTS TABLE:

Maximum Fee % of assets: Payments are based on a percentage of the average assets of each underlying fund portfolio owned by the subaccounts available under this policy and under certain other variable insurance products offered by our affiliates and us. We and TCI may continue to receive 12b-1 fees and administrative fees on subaccounts that are closed to new investments, depending on the terms of the agreements supporting those payments and on the services we and TCI provide.

Transamerica Series Trust (“TST”): Because TST is managed by Transamerica Asset Management, Inc. (“TAM”), an affiliate of ours, there are additional benefits to us and our affiliates for amounts you allocate to the TST underlying fund portfolios, in terms of our and our affiliates’ overall profitability. These additional benefits may be significant. Payments or other benefits may be received from TAM. Such payments or benefits may be entered into for a variety of purposes, such as to allocate resources to us to provide administrative services to the policyholders who invest in the TST underlying fund portfolios. These payments or benefits may take the form of internal credits, recognition, or cash payments. A variety of financial and accounting methods may be used to allocate resources and profits to us. Additionally, if a TST portfolio is sub-advised by an entity that is affiliated with us, we may retain more revenue than on those TST portfolios that are sub-advised by non-affiliated entities. During 2009 we received $53,525,721.38 from TAM pursuant to these benefits. This includes the 0.25% amount in the above chart. We anticipate receiving comparable amounts in the future.

Variable Insurance Products Fund: We receive this percentage once $100 million in fund shares are held by the subaccounts of the Company and its affiliates.

• Other Payments. TCI also serves as the wholesale distributor for the policies, and in that capacity directly or indirectly receives additional amounts or different percentages of assets under management from certain advisers and sub-advisers to the underlying fund portfolios (or their affiliates) with regard to variable insurance products or mutual funds that are issued by us and our affiliates. These amounts may be derived, in whole or in part, from the profits the investment adviser or sub-adviser receives from the advisory fee deducted from underlying fund portfolio assets. Policy owners, through their indirect investment in the underlying fund portfolios, bear the costs of these advisory fees. Certain advisers and sub-advisers of the underlying fund portfolios (or their affiliates):

• may each directly or indirectly pay TCI amounts up to $75,000 per year to participate in a “preferred sponsor” program that provides such advisers and sub-advisers with access to TCI’s wholesalers at TCI’s national and regional sales conferences as well as internal and external meetings and events that are attended by TCI’s wholesalers and/or other TCI employees.

• may provide our affiliates and/or selling

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firms with wholesaling services to assist us in the distribution of the policies.

• may provide us and/or certain affiliates and/or selling firms with occasional gifts, meals, tickets or other compensation as an incentive to market the underlying fund portfolios and to assist with their promotional efforts. The amounts may be significant and these arrangements provide the adviser or subadviser (or other affiliates) with increased access to us and to our affiliates involved in the distribution of the policies.

For the calendar year ended December 31, 2009, TCI received revenue sharing payments ranging from $3,500 to $32,000 (for a total of $264,750) from the following Fund managers and/or sub-advisers to participate in TCI’s events: Alliance Capital Management L.P., American Century Investment Management, Inc., BlackRock Investment Management, LLC., Columbia Management Advisors, Inc., Evergreen Investments, Federated Investment Management Company, Fidelity Management and Research Company, ING Clarion Real Estate Securities, Janus Capital Management, LLC, Jennison Associates LLC, JPMorgan Investment Management, Inc., Legg Mason, MFS Investment Management, Oppenheimer Funds, Inc., Pacific Investment Management Company LLC, Putnam , Schroders, Transamerica Investment Management, LLC, Van Kampen Asset Management, Vanguard. Please note some of the aforementioned managers and/or subadvisors may not be associated with underlying fund portfolios currently available in this product.

Proceeds from certain of these payments by the underlying fund portfolios, the advisers, the sub-advisers and/or their affiliates may be used for any corporate purpose, including payment of expenses (1) that we and our affiliates incur in promoting, marketing, and administering the policy, and (2) that we incur, in our role as intermediary, in promoting, marketing, and administering the underlying fund portfolios. We and our affiliates may profit from these payments.

For further details about the compensation payments we make in connection with the sale of the policies, see “Distribution of the Policies” in this prospectus.

6. ACCESS TO YOUR MONEY

During the accumulation phase, you can have access to the money in your policy in the following ways:

• by making a surrender (either a full or partial surrender); or

• by taking systematic payouts (See “Section 10, Systematic Payout Option” for more details).

Surrenders

If you take a full surrender, you will receive your cash value.

If you want to take a partial surrender, in most cases it must be for at least $500. Unless you tell us otherwise, we will take the surrender from each of the investment choices in proportion to the policy value.

Remember that any surrender you take will reduce the policy value, and the amount of the death benefit. See “Section 8, Death Benefit”, for more details. A partial surrender also may have a negative impact on certain other benefits and guarantees of your Contract.

Surrenders from qualified policies may be restricted or prohibited.

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During the income phase, you will receive annuity payments under the annuity payment option you select; however, you generally may not take any other surrenders, either full or partial, unless you elect a Life with Emergency Cash^® payment option.

If your policy was issued pursuant to a 403(b) plan, we generally are required to confirm, with your 403(b) plan sponsor or otherwise, that surrenders, loans or transfers you request comply with applicable tax requirements and to decline requests that are not in compliance. We will defer such payments you request until all information required under the tax law has been received. By requesting a surrender, loan or transfer, you consent to the sharing of confidential information about you, the policy, and transactions under the policy and any other 403(b) contracts or accounts you have under the 403(b) plan among us, your employer or plan sponsor, any plan administrator or recordkeeper, and other product providers.

Delay of Payment and Transfers

Payment of any amount due from the separate account for a surrender, a death benefit, or the death of the owner of a nonqualified policy, will generally occur within seven days from the date we receive in good order all required information at our Administrative and Service Office. We may defer such payment from the separate account if:

• the New York Stock Exchange is closed other than for usual weekends or holidays or trading on the Exchange is otherwise restricted;

• an emergency exists as defined by the SEC or the SEC requires that trading be restricted; or

• the SEC permits a delay for the protection of owners.

In addition, transfers of amounts from the subaccounts may be deferred under these circumstances.

Any payment or transfer request which is not in good order will cause a delay.

Federal laws designed to counter terrorism and prevent money laundering by criminals might in certain circumstances require us to reject a premium payment and/or “freeze” a policy owner’s account. If these laws apply in a particular situation, we would not be allowed to pay any request for withdrawals, surrenders, or death benefits, make transfers, or continue making annuity payments absent instructions from the appropriate federal regulator. We may also be required to provide information about you and your policy to government agencies or departments.

Pursuant to the requirements of certain state laws, we reserve the right to defer payment of the cash value from the fixed account for up to six months. We may defer payment of any amount until your premium payment check has cleared your bank.

Excess Interest Adjustment

Money that you transfer out of or surrender from a guaranteed period option of the fixed account before the end of its guaranteed period (the number of years you specified the money would remain in the guaranteed period option) may be subject to an excess interest adjustment. At the time you request a transfer or surrender (either full or partial), if interest rates set by the Company have risen since the date of the initial guarantee, the excess interest adjustment will result in a lower cash value on surrender or transfer. However, if interest rates have fallen since the date of the initial guarantee, the excess interest adjustment will result in a higher cash value on surrender or transfer. Please see “Appendix - Excess Interest Adjustment Examples” to see how the excess interest adjustment is calculated and illustrative examples using hypothetical values.

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Any amount surrendered in excess of the cumulative interest credited is generally subject to an excess interest adjustment. An excess interest adjustment may also be made on amounts applied to an annuity payment option.

There will be no excess interest adjustment on any of the following:

• surrenders of cumulative interest credited;

• Nursing Care and Terminal Condition Withdrawal Option surrenders;

• Unemployment Waiver surrenders;

• surrenders to satisfy any minimum distribution requirements; and

• Systematic Payout Option payments, which do not exceed cumulative interest credited at the time of payment.

Please note that in these circumstances you will not receive a higher cash value if interest rates have fallen nor will you receive a lower cash value if interest rates have risen.

The excess interest adjustment may vary for certain policies and may not be applicable for all policies.

Signature Guarantee

As a protection against fraud, we require that the following transaction requests include a Medallion signature guarantee:

• All requests for surrenders (i.e. partial surrenders and full surrenders) over $250,000;

• All requests for surrenders (i.e. partial surrenders and full surrenders) when the Company does not have an original signature on file.

You can obtain a Medallion signature guarantee from more than 7,000 financial institutions across the United States and Canada that participate in a Medallion signature guarantee program. This includes many:

• National and state banks;

• Savings banks and savings and loan associations;

• Securities brokers and dealers; and

• Credit Unions.

The best source of a Medallion signature guarantee is a bank, savings and loan association, brokerage firm, or credit union with which you do business. Guarantor firms may, but frequently do not, charge a fee for their services.

A notary public cannot provide a Medallion signature guarantee. Notarization will not substitute for a Medallion signature guarantee.

7. ANNUITY PAYMENTS (THE INCOME PHASE)

You choose the annuity commencement date. You can change this date by giving us notice with the information we need. New annuity commencement dates less than 30 days after we receive notice of the change require prior approval. The latest maximum annuity commencement date generally cannot be after the policy month following the month in which the annuitant attains age 95. The earliest annuity commencement date is at least thirty days after you purchase your policy.

Before the annuity commencement date, if the annuitant is alive, you may choose an annuity payment option or change your election. If the annuitant dies before the annuity commencement date, the death benefit is payable in a lump sum or under one of the annuity payment options (unless the surviving spouse continues the policy).

Unless you specify otherwise, the annuitant will receive the annuity payments. After the annuitant’s death, the beneficiary you designate at annuitization will receive any remaining guaranteed payments.

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Annuity Payment Options

The policy provides several annuity payment options that are described below. You may choose any combination of annuity payment options. We will use your policy value to provide these annuity payments. If the policy value on the annuity commencement date is less than $2,000, we reserve the right to pay it in one lump sum in lieu of applying it under an annuity payment option. You can receive annuity payments monthly, quarterly, semi-annually, or annually. (We reserve the right to change the frequency if payments would be less than $50.)

If you choose to receive fixed payments, then the amount of each payment will be set on the annuity commencement date and will not change. You may, however, choose to receive variable payments. The dollar amount of the first variable payment will be determined in accordance with the annuity payment rates set forth in the applicable table contained in the policy. The dollar amount of additional variable payments will vary based on the investment performance of the subaccount(s) you select. The dollar amount of each variable payment after the first may increase, decrease, or remain constant. If the actual investment performance (net of fees and expenses) exactly matched the assumed investment return of 5% at all times, the amount of each variable annuity payment would remain constant. If actual investment performance (net of fees and expenses) exceeds the assumed investment return, the amount of the variable annuity payments would increase. Conversely, if actual investment performance (net of fees and expenses) is lower than the assumed investment return, the amount of the variable annuity payments would decrease. Please note that these changes only occur annually under the Initial Payment Guarantee.

A charge for premium taxes and an excess interest adjustment may be made when annuity payments begin.

The annuity payment options are explained below. Some options are fixed only and some can be fixed or variable.

Income for a Specified Period (fixed only). We will make level payments only for a fixed period. No funds will remain at the end of the period.

If your policy is a qualified policy, this payment option may not satisfy minimum required distribution rules. Consult a tax advisor before electing this option.

Income of a Specified Amount (fixed only).

Payments are made for any specified amount until the amount applied to this option, with interest, is exhausted. This will be a series of level payments followed by a smaller final payment.

If your policy is a qualified policy, this payment option may not satisfy minimum required distribution rules. Consult a tax advisor before electing this option.

Life Income. You may choose between:

• No Period Certain (fixed or variable)-Payments will be made only during the annuitant’s lifetime.

• 10 Years Certain (fixed or variable)-Payments will be made for the longer of the annuitant’s lifetime or ten years.

• Guaranteed Return of Policy Proceeds (fixed only)-Payments will be made for the longer of the annuitant’s lifetime or until the total dollar amount of payments we made to you equals the annuitized amount.

• Life with Emergency Cash^® (fixed or variable)-Payments will be made during the annuitant’s lifetime. With the Life with Emergency Cash^® feature, you are able to surrender all or a portion of the Life with Emergency Cash^® benefit. The amount you surrender must be at least $2,500. We will provide you with a Life with Emergency Cash^®

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benefit schedule that will assist you in estimating the amount you have available to surrender. A partial surrender will reduce all future payments pro rata. A surrender charge may apply and there may be tax consequences (consult a tax advisor before requesting a full or partial surrender). The maximum surrender charge is 4% of the annuitized amount (see “Expenses” for the surrender charge schedule). You will be subject to whatever surrender schedule is in effect at the time you annuitize under this annuity payment option. The Life with Emergency Cash^® benefit will continue through age 100 of the annuitant.

The Life with Emergency Cash^® benefit is also a death benefit that is paid upon the death of the annuitant and is generally equal to the surrender value without any surrender charges. For qualified policies the death benefit ceases on the date the annuitant reaches the IRS age limitation.

Joint and Survivor Annuity. You may choose between:

• No Period Certain (fixed or variable)-Payments are made during the joint lifetime of the annuitant and a joint annuitant of your selection. Payments will be made as long as either person is living.

• Life with Emergency Cash^® (fixed or variable)-Payments will be made during the joint lifetime of the annuitant and a joint annuitant of your selection. Payments will be made as long as either person is living. With the Life with Emergency Cash^® feature, you are able to surrender all or a portion of the Life with Emergency Cash^® benefit. The amount you surrender must be at least $2,500. We will provide you with a Life with Emergency Cash^® benefit schedule that will assist you in estimating the amount you have available to surrender. A partial surrender will reduce all future payments pro rata. A surrender charge may apply and there may be tax consequences (consult a tax advisor before requesting a full or partial surrender). The maximum surrender charge is 4% of the annuitized amount (see “Expenses” for the surrender charge schedule). You will be subject to whatever surrender schedule is in effect at the time you annuitize under this annuity payment option. The Life with Emergency Cash^® benefit will continue through age 100 of the surviving joint annuitant.

The Life with Emergency Cash^® benefit is also a death benefit that is paid upon the death of the surviving joint annuitant and is generally equal to the surrender value without any surrender charges. For qualified policies the death benefit ceases on the date the surviving joint annuitant reaches the IRS joint age limitation.

Other annuity payment options may be arranged by agreement with the Company. Some annuity payment options may not be available for all policies.

NOTE CAREFULLY

IF:

• you choose Life Income with No Period Certain or a Joint and Survivor Annuity with No Period Certain; and

• the annuitant dies (or both joint annuitants die) before the due date of the second (third, fourth, etc.) annuity payment;

THEN:

• we may make only one (two, three, etc.) annuity payments.

IF:

• you choose Income for a Specified Period, Life Income with 10 Years Certain, Life Income with Guaranteed Return of Policy Proceeds, or Income of a Specified Amount; and

• the person receiving payments dies prior to the end of the guaranteed period;

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THEN:

• the remaining guaranteed payments will be continued to a new payee, or their present value may be paid in a single sum.

However, IF:

• you choose Life with Emergency Cash^®; and

• the annuitant dies (if both joint annuitants die) before age 101;

THEN:

• a Life with Emergency Cash^® death benefit will be paid.

We will not pay interest on amounts represented by uncashed annuity payment checks if the postal or other delivery service is unable to deliver checks to the payee’s address of record. The person receiving payments is responsible for keeping the Company informed of his/her current address.

You must annuitize your policy no later than the maximum annuity commencement date specified in your policy (earlier for certain distribution channels). If you do not elect an annuity payment option, the default option will be Life with 10 Years Certain option. Please note, all optional benefits (including guaranteed minimum death benefits and living benefits) terminate upon annuitization.

8. DEATH BENEFIT

We will pay a death benefit to your beneficiary, under certain circumstances, if the annuitant dies during the accumulation phase. If there is a surviving owner(s) when the annuitant dies, the surviving owner(s) will receive the death benefit instead of the listed beneficiary. The person receiving the death benefit may choose an annuity payment option, or may choose to receive a lump sum.

We will determine the amount of and pay the death benefit proceeds, if any are payable on a policy, upon receipt at our Administrative and Service Office of satisfactory proof of the annuitant’s death, written directions from each eligible recipient of death benefit proceeds regarding how to pay the death benefit, and any other documents, forms and information that we need (collectively referred to as “due proof of death”).

Please Note: Such due proof of death must be submitted in good order to avoid a delay in processing the death benefit claim.

The death benefit proceeds remain invested in the separate account in accordance with the allocations made by the policy owner until the beneficiary has provided us with due proof of death. Once the Company receives due proof of death, then investments in the separate account may be reallocated in accordance with the beneficiary’s instructions. The Company may permit the beneficiary to give a “one-time” instruction to reallocate the investments in the separate account to the money market fund before receiving due proof of death, however, provided that each beneficiary agrees to such reallocation instructions.

When We Pay A Death Benefit

We will pay a death benefit IF:

• you are both the annuitant and sole owner of the policy; and

• you die before the annuity commencement date.

We will pay a death benefit to you (owner) IF:

• you are not the annuitant; and

• the annuitant dies before the annuity commencement date.

If the only person receiving the death benefit is the surviving spouse, then he or she may elect to continue the policy as the new annuitant and owner, instead of receiving the death benefit.

When We Do Not Pay A Death Benefit

We will not pay a death benefit IF:

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• you are not the annuitant; and

• you die prior to the annuity commencement date.

Please note the new owner (unless it is the deceased owner’s spouse) must generally surrender the policy within five years of your death.

Distribution requirements apply to the policy value upon the death of any owner. These distribution requirements are detailed in the SAI.

Deaths After the Annuity Commencement Date

The death benefit payable, if any, on or after the annuity commencement date depends on the annuity payment option selected.

IF:

• you are not the annuitant; and

• you die on or after the annuity commencement date; and

• the entire interest in the policy has not been paid;

THEN:

• the remaining portion of such interest in the policy will continue to be distributed at least as rapidly as under the method of distribution being used as of the date of your death.

IF:

• annuity payments are being made under the Life with Emergency Cash^®; and

• the annuitant dies before age 101 (or earlier, if a qualified policy);

THEN:

• a Life with Emergency Cash^® death benefit will be paid.

Succession of Ownership

If an owner dies during the accumulation phase, the person or entity first listed below who is alive or in existence on the date of that death will become the new owner:

• any surviving owner;

• primary beneficiary;

• contingent beneficiary; or

• owner’s estate.

Amount of Death Benefit

Death benefit provisions may differ from state to state. The death benefit may be paid as a lump sum or as annuity payments. The amount of the death benefit depends on the guaranteed minimum death benefit option, if any, you choose when you buy the policy. The “base policy” death benefit will generally be the greatest of:

• the policy value on the date we receive the required information in good order at our Administrative and Service Office;

• the cash value on the date we receive the required information in good order at our Administrative and Service Office (this will be more than the policy value if there is a positive excess interest adjustment);

• and the guaranteed minimum death benefit (discussed below), plus premium payments (after the date of death), less adjusted partial surrenders, from the date of death to the date the death benefit is paid. Please see “Appendix - Death Benefit” for illustrative examples regarding Death Benefit calculations.

Please note, the death benefit terminates upon annuitization and there is a maximum annuity commencement date.

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Guaranteed Minimum Death Benefit

NOTE: The following generally applies, depending on the state of issue, to policies issued after the date of this prospectus. See “Appendix - Policy Variations” for information about older policies.

On the policy application, you may generally choose a guaranteed minimum death benefit (age limitations may apply) for an additional fee. After the policy is issued, you cannot make an election and the death benefit cannot be changed.

Annual Step-Up Death Benefit

Under this option, on each policy anniversary before your 81st birthday, a new “stepped-up” death benefit is determined and becomes the guaranteed minimum death benefit for that policy year. This “step-up” death benefit is equal to:

• the largest policy value on the policy date or on any policy anniversary prior to the earlier of the annuitant’s date of death or the annuitant’s 81st birthday; plus

• any premium payments since the date of any policy anniversary with the largest policy value; minus

• any adjusted partial surrenders since the date of the policy anniversary with the largest policy value.

The Annual Step-Up Death Benefit is not available if you or the annuitant is 76 or older on the policy date. There is an extra charge for this death benefit of 0.20% annually.

Return of Premium Death Benefit

The Return of Premium Death Benefit is equal to:

• total premium payments; less

• any adjusted partial surrenders as of the date of death.

This benefit is not available if you or the annuitant is 91 or older on the policy date. The Return of Premium Death Benefit will be in effect if you do not choose another death benefit option when you purchase your policy.

Please note: You will not receive an optional guaranteed minimum death benefit if you do not choose one when you purchase your policy.

The Guaranteed Minimum Death Benefit may vary for certain policies and may not be available for all policies. This disclosure explains the material features of the Guaranteed Minimum Death Benefit. The application and operation of the Guaranteed Minimum Death Benefit are governed by the terms and conditions of the policy form and riders.

Adjusted Partial Surrender

When you request a partial surrender, your guaranteed minimum death benefit will be reduced by an amount called the adjusted partial surrender. Under certain circumstances, the adjusted partial surrender may be more than the dollar amount of your surrender request. This will generally be the case if the guaranteed minimum death benefit exceeds the policy value at the time of surrender. It is also possible that if a death benefit is paid after you have made a partial surrender, then the total amount paid could be less than the total premium payments. We have included a detailed explanation of this adjustment in the “Appendix - Death Benefit.” This is referred to as “adjusted partial surrender” in your

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policy. If you have a qualified policy, minimum required distributions rules may require you to request a partial surrender.

9. TAXES

NOTE: We have prepared the following information on federal income taxes as a general discussion of the subject. It is not intended as tax advice to any individual. You should consult your own tax adviser about your own circumstances. We have included an additional discussion regarding taxes in the SAI.

Annuity Policies in General

Deferred annuity policies are a way of setting aside money for future needs like retirement. Congress recognized how important saving for retirement is and provided special rules in the Internal Revenue Code for annuities.

Simply stated, these rules generally provide that individuals will not be taxed on the earnings, if any, on the money held in an annuity policy until taken out. This is referred to as tax deferral. When a non-natural person (e.g., corporation or certain other entities other than tax-qualified trusts) owns a nonqualified policy, the policy will generally not be treated as an annuity for tax purposes.

There are different rules as to how you will be taxed depending on how you take the money out and the type of policy-qualified or nonqualified.

You will generally not be taxed on increases in the value of your policy until a distribution occurs (either as a surrender or as annuity payments).

Qualified and Nonqualified Policies

If you purchase the policy under an individual retirement annuity, a 403(b) plan, a pension plan, or specially sponsored program, your policy is referred to as a qualified policy.

Qualified policies are issued in connection with the following:

• Individual Retirement Annuity (IRA): A traditional IRA allows individuals to make contributions, which may be deductible, to the policy. A Roth IRA also allows individuals to make contributions to the policy, but it does not allow a deduction for contributions, and distributions may be tax-free if the owner meets certain rules.

• Tax-Sheltered Annuity (403(b) Plan): A 403(b) Plan may be made available to employees of certain public school systems and tax-exempt organizations and permits contributions to the policy on a pre-tax basis. Pursuant to new tax regulations, starting January 1, 2009 the policy is not available for purchase under a 403(b) plan and we do not accept additional premiums or transfers to existing 403(b) policies. We generally are required to confirm, with your 403(b) plan sponsor or otherwise, that surrenders, loans or transfers you request from an existing 403(b) policy comply with applicable tax requirements before we process your request.

• Corporate Pension and Profit-Sharing and H.R. 10 Plan: Employers and self-employed individuals can establish pension or profit-sharing plans for their employees or themselves and make contributions to the policy on a pre-tax basis.

• Deferred Compensation Plan (457 Plan): Certain governmental and tax-exempt organizations can establish a plan to defer compensation on behalf of their employees through contributions to the policy.

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There is no additional tax deferral benefit derived from placing qualified funds into a variable annuity. Features other than tax deferral should be considered in the purchase of a qualified policy. There are limits on the amount of contributions you can make to a qualified policy. Other restrictions may apply including terms of the plan in which you participate.

Optional death benefit features in some cases may exceed the greater of the premium payments or the policy value. Such a death benefit could be characterized as an incidental benefit, the amount of which is limited in any pension or profit-sharing plan or 403(b) plan. Because an optional death benefit may exceed this limitation, anyone using the policy in connection with such plans should consult their tax adviser before purchasing an optional death benefit. The Internal Revenue Service has not reviewed the policy for qualification as an IRA, and has not addressed in a ruling of general applicability whether the death benefit options and riders available, with the policy, if any, comport with IRA qualification requirements.

If you purchase the policy as an individual and not under an individual retirement annuity, 403(b) plan, 457 plan, or pension or profit sharing plan, your policy is referred to as a nonqualified policy.

Surrenders-Qualified Policies Generally

There are special rules that govern qualified policies. Generally, these rules restrict:

• the amount that can be contributed to the policy during any year;

• the time when amounts can be paid from the policy; and

• the amount of any death benefit that may be allowed.

In the case of a withdrawal under a qualified policy, a pro rata portion of the amount you receive is taxable, generally based on the ratio of your “investment in the contract” to your total account balance or accrued benefit under the retirement plan. Your “investment in the contract” generally equals the amount of any non-deductible purchase payments made by you or on your behalf. In some cases, your “investment in the contract” can be zero.

In addition, a penalty tax may be assessed on amounts surrendered from the policy prior to the date you reach age 59 ¹/2, unless you meet one of the exceptions to this rule. You may also be required to begin taking minimum distributions from the policy by a certain date. Pursuant to special legislation, required minimum distributions for the 2009 tax year generally are not required, and 2009 distributions that otherwise would be required minimum distributions may be eligible for rollover. The terms of the plan may limit the rights otherwise available to you under the policy. We have provided more information in the SAI.

We may make available under the policy certain guaranteed lifetime withdrawal and other optional benefits. The tax rules for qualified policies may limit the value of these optional benefits. For example, if you elect a guaranteed lifetime withdrawal benefit and your minimum required distribution amount exceeds your guaranteed withdrawal amount, you will have to withdraw more than the guaranteed withdrawal amount to avoid imposition of a 50% excise tax. It is not clear whether guaranteed lifetime withdrawal benefit payments made during the settlement phase will be taxed as withdrawals or as annuity payments. In view of this uncertainty, we will apply the non-annuity rules for determining minimum required distributions, meaning that a percentage of the value of all benefits under the contract will need to be withdrawn each year. The value may have to include the value of enhanced death benefits and other optional contract provisions such as the guaranteed lifetime withdrawal benefit rider itself.

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If you are attempting to satisfy minimum required distribution rules through partial surrenders, the value of any enhanced death benefit or other optional rider may need to be included in calculating the amount required to be distributed.

The Internal Revenue Code generally requires that interests in a qualified policy be nonforfeitable. If your policy contains a bonus rider with a recapture, forfeiture, or “vesting” feature, it may not be consistent with those requirements. Consult a tax advisor before purchasing a bonus rider as part of a qualified policy.

You should consult your legal counsel or tax adviser if you are considering purchasing an enhanced death benefit or other optional rider, or if you are considering purchasing a policy for use with any qualified retirement plan or arrangement.

Surrenders-403(b) Policies

The rules described above for qualified policies generally apply to 403(b) policies. However, specific rules apply to surrenders from certain 403(b) policies. Partial withdrawals and surrenders can generally only be made when an owner:

• reaches age 59 ¹/2;

• leaves his/her job;

• dies;

• becomes disabled (as that term is defined in the Internal Revenue Code); or

• declares hardship. However, in the case of hardship, the owner can only surrender the premium payments and not any earnings.

Please Note: In some instances the signature of the employer may be required. For contracts issued after 2008, amounts attributable to nonelective contributions may be subject to distribution restrictions specified in the employer’s section 403(b) plan.

Pursuant to new tax regulations, we generally are required to confirm, with your 403(b) plan sponsor or otherwise, that surrenders you request from a 403(b) policy comply with applicable tax requirements before we process your request.

Defaulted loans from Code Section 403(b) arrangements, and pledges and assignments of qualified policies generally are taxed in the same manner as surrenders from such policies. Please refer to the SAI for further information applicable to distributions from 403(b) policies. Please note that a defaulted loan may stop the growth on a guaranteed lifetime withdrawal benefit.

Surrenders-Nonqualified Policies

The information above describing the taxation of qualified policies does not apply to nonqualified policies. If you take a partial withdrawal or surrender (including systematic payouts and payouts under an optional feature, if any) from a nonqualified policy before the annuity commencement date, the Internal Revenue Code treats that surrender as first coming from earnings and then from your premium payments. If your policy contains an excess interest adjustment feature (also known as a market value adjustment), then your account value immediately before the surrender may have to be increased by any positive excess interest adjustments that result from the surrender. There is, however, no definitive guidance on the proper tax treatment of excess interest adjustments, and you may want to discuss the potential tax consequences of an excess interest adjustment with your tax advisor.

When you make a surrender you are taxed on the amount of the surrender that is earnings. If you make a surrender, you are generally taxed on the amount that your surrender proceeds exceeds the “investment in the contract,” which is generally your premiums paid (adjusted for any prior surrenders or portions thereof that were not taxable). In general, loans, pledges, and assignments are taxed in the same

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manner as partial withdrawals and surrenders. Different rules apply for annuity payments. See “Annuity Payments” below.

The Internal Revenue Code also provides that surrendered earnings may be subject to a penalty tax. The amount of the penalty tax is equal to 10% of the amount that is includable in income. Some surrenders will be exempt from the penalty tax. They include, among others, any amounts:

• paid on or after the taxpayer reaches age 59 ¹/2;

• paid after an owner dies;

• paid if the taxpayer becomes disabled (as that term is defined in the Internal Revenue Code);

• paid in a series of substantially equal payments made annually (or more frequently) under a lifetime annuity;

• paid under an immediate annuity; or

• which come from premium payments made prior to August 14, 1982.

If your nonqualified policy contains a guaranteed lifetime withdrawal benefit rider, certain rules may apply. It is not clear whether guaranteed lifetime withdrawal benefit payments made during the settlement or income (payout) phase may be taxed as either withdrawals or annuities. In view of this uncertainty, we intend to adopt a conservative approach and treat guaranteed lifetime withdrawal payments during the settlement phase under nonqualified policies as withdrawals. Consult a tax advisor before purchasing a guaranteed lifetime withdrawal benefit rider or option.

All nonqualified deferred annuity policies that are issued by us (or our affiliates) to the same owner during any calendar year are treated as one annuity for purposes of determining the amount includable in the owner’s income when a taxable distribution occurs.

Taxation of Death Benefit Proceeds

Amounts may be distributed from the policy because of the death of the annuitant. Generally, such amounts should be includable in the income of the recipient:

• if distributed in a lump sum, these amounts are taxed in the same manner as a surrender; or

• if distributed under an annuity payment option, these amounts are taxed in the same manner as annuity payments.

Annuity Payments

Although the tax consequences may vary depending on the annuity payment option you select, in general, for nonqualified and certain qualified policies, only a portion of the annuity payments you receive will be includable in your gross income.

In general, the excludable portion of each annuity payment you receive will be determined as follows:

• Fixed payments-by dividing the “investment in the contract” on the annuity commencement date by the total expected value of the annuity payments for the term of the payments. This is the percentage of each annuity payment that is excludable.

• Variable payments-by dividing the “investment in the contract” on the annuity commencement date by the total number of expected periodic payments. This is the amount of each annuity payment that is excludable.

The remainder of each annuity payment is includable in gross income. Once the “investment in the contract” has been fully recovered, the full amount of any additional annuity payments is includable in gross income and taxed as ordinary income.

If you select more than one annuity payment option, special rules govern the allocation of the policy’s entire “investment in the contract” to each such option, for purposes of determining the excludable

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amount of each payment received under that option. We advise you to consult a competent tax adviser as to the potential tax effects of allocating amounts to any particular annuity payment option.

If, after the annuity commencement date, annuity payments stop because an annuitant died, the excess (if any) of the “investment in the contract” as of the annuity commencement date over the aggregate amount of annuity payments received that was excluded from gross income may possibly be allowable as a deduction in your tax return.

You should consult a tax advisor before electing the Initial Payment Guarantee or a feature with stabilized payments.

Medicare Tax

Beginning in 2013, distributions from nonqualified annuity policies will be considered “investment income” for purposes of the newly enacted Medicare tax on investment income. Thus, in certain circumstances, a 3.8% tax may be applied to some or all of the taxable portion of distributions (e.g. earnings) to individuals whose income exceeds certain threshold amounts ($200,000 for filing single, $250,000 for married filing jointly and $125,000 for married filing separately). Please consult a tax advisor for more information.

Diversification and Distribution Requirements

The Internal Revenue Code provides that the underlying investments for a variable annuity must satisfy certain diversification requirements in order to be treated as an annuity. The policy must also meet certain distribution requirements at the death of an owner in order to be treated as an annuity. These diversification and distribution requirements are discussed in the SAI. We may modify the policy to attempt to maintain favorable tax treatment.

Federal Defense of Marriage Act

The Federal Defense of Marriage Act currently does not recognize same-sex marriages or civil unions, even those that are permitted under individual state laws. Therefore, exercise of the spousal continuation provisions of this policy by persons who do not meet the definition “spouse” under federal law—e.g., civil union partners or same-sex marriage spouses—may have adverse tax consequences. Consult a tax advisor for more information on this subject.

Federal Estate Taxes

While no attempt is being made to discuss the Federal estate tax implications of the Policy, a purchaser should keep in mind that the value of an annuity contract owned by a decedent and payable to a beneficiary by virtue of surviving the decedent is included in the decedent’s gross estate. Depending on the terms of the annuity contract, the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated beneficiary or the actuarial value of the payments to be received by the beneficiary. Consult an estate planning advisor for more information.

Generation-Skipping Transfer Tax

Under certain circumstances, the Internal Revenue Code may impose a “generation skipping transfer tax” when all or part of an annuity contract is transferred to, or a death benefit is paid to, an individual two or more generations younger than the Owner. Regulations issued under the Internal Revenue Code may require us to deduct the tax from your Contract, or from any applicable payment, and pay it directly to the IRS.

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Estate, Gift and Generation-Skipping Transfer Taxes in 2010

In 2001, Congress enacted the Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”), which eliminated the estate tax (but not the gift tax) and replaced it with a carryover basis income tax regime for estates of decedents dying in 2010, and also eliminated the generation-skipping transfer tax for transfers made in 2010. Beginning in 2011, however, EGTRRA allowed the estate, gift and generation-skipping transfer taxes to return to their pre-EGTRRA form. Moreover, it is possible that Congress may enact legislation reinistating the estate and generation-skipping transfer taxes for 2010, possibly on a retroactive basis. The uncertainty as to future estate, gift and generation-skipping transfer taxes underscores the importance of seeking guidance from a qualified advisory to help ensure that your estate plan adequately addresses your needs and that of your beneficiaries under all possible scenarios.

Annuity Purchases by Residents of Puerto Rico

The Internal Revenue Service recently announced that income received by residents of Puerto Rico under life insurance or annuity contracts issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States federal income tax.

Annuity Contracts Purchased by Nonresident Aliens and Foreign Corporations

The discussion above provided general information (but not tax advice) regarding U.S. federal income tax consequences to annuity owners that are U.S. persons. Taxable distributions made to owners who are not U.S. persons will generally be subject to U.S. federal income tax withholding at a 30% rate, unless a lower treaty rate applies. In addition, distributions may be subject to state and/or municipal taxes and taxes that may be imposed by the owner’s country of citizenship or residence. Prospective foreign owners are advised to consult with a qualified tax adviser regarding U.S., state, and foreign taxation for any annuity policy purchase.

Transfers, Assignments or Exchanges of Policies

A transfer of ownership or assignment of a policy, the designation of an annuitant or payee or other beneficiary who is not also the owner, the selection of certain annuity commencement dates, or a change of annuitant, may result in certain income or gift tax consequences to the owner that are beyond the scope of this discussion. An owner contemplating any such transfer, assignment, selection, or change should contact a competent tax adviser with respect to the potential tax effects of such a transaction.

Possible Tax Law Changes

Although the likelihood of legislative or regulatory changes is uncertain, there is always the possibility that the tax treatment of the policy could change by legislation, regulation, or otherwise. You should consult a tax adviser with respect to legal or regulatory developments and their effect on the policy.

We have the right to modify the policy to meet the requirements of any applicable laws or regulations, including legislative changes that could otherwise diminish the favorable tax treatment that annuity policy owners currently receive.

Separate Account Charges

It is possible that the Internal Revenue Service may take a position that fees for certain optional benefits (e.g., death benefits other than the Return of Premium death benefit) are deemed to be taxable distributions to you. In particular, the Internal Revenue Service may treat fees associated with certain optional benefits as a taxable surrender, which might also be subject to a tax penalty if the surrender occurs prior to age 59 ¹/2. Although we do not believe that

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the fees associated with any optional benefit provided under the policy should be treated as taxable surrenders, the tax rules associated with these benefits are unclear, and we advise that you consult your tax advisor prior to selecting any optional benefit under the policy.

Foreign Tax Credits

We may benefit from any foreign tax credits attributable to taxes paid by certain underlying funds to foreign jurisdictions to the extent permitted under federal tax law.

Guaranteed Lifetime Withdrawal Benefits

We may make available, as options under the policy, certain guaranteed lifetime withdrawal and other optional benefits. If your policy contains a guaranteed lifetime withdrawal benefit rider the application of certain tax rules, particularly those rules relating to distributions from your policy, are not entirely clear. The tax rules for qualified policies may limit the value of these optional benefits. In view of this uncertainty, you should consult a tax advisor before purchasing a guaranteed lifetime withdrawal benefit rider for a qualified policy.

10. ADDITIONAL FEATURES

Systematic Payout Option

You can select at any time (during the accumulation phase) to receive regular withdrawals (i.e., partial surrenders) from your policy by using the Systematic Payout Option. Under this option, you can receive the greater of (1) or (2), divided by the number of withdrawals made per year, where: (1) up to 10% of your premium payments (reduced by prior withdrawals in that policy year); and (2) is any gains in the policy. For amounts greater than 10% of your premium payments, you must receive prior Company approval.

Any payment in excess of the cumulative interest credited at the time of the payment may be subject to an excess interest adjustment.

Systematic withdrawals can be made monthly, quarterly, semi-annually, or annually. Each withdrawal must be at least $50. Monthly and quarterly withdrawals must generally be made by electronic funds transfer directly to your checking or savings account.

If you request an additional withdrawal while a Systematic Payout Option is in effect, then the Systematic Payout Option will terminate.

Keep in mind that partial withdrawals under the Systematic Payout Option may be taxable, and if made before age 59 ¹/2, may be subject to a 10% federal penalty tax.

Please note, if you elect certain features (e.g. living benefit riders) your Systematic Payout Option may be different for the first year.

There is no charge for this benefit.

Income Benefit Programs

The Family Income Protector and Managed Annuity Programs are no longer available for new sales, but if you have previously elected one of these benefits you can still upgrade. If you upgrade your minimum annuitization value or minimum income base, you will generally receive the Managed Annuity Program II.

Initial Payment Guarantee

You may only elect to purchase the Initial Payment Guarantee at the time you annuitize your policy. You cannot terminate this payment guarantee (or eliminate the charge for it) after you have elected it.

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The guarantee only applies to variable annuity payments. There is an additional charge for this guarantee.

The Initial Payment Guarantee does not establish or guarantee the performance of any subaccount.

Under the Initial Payment Guarantee, you receive annuity payments that are stabilized—that is, held level throughout each policy year—and are guaranteed to never be less than a percentage of the initial payment. The guaranteed percentage is subject to change from time to time; however once you annuitize, the guaranteed percentage will not change during the life of the Initial Payment Guarantee. Contact us for the current guaranteed percentage.

The payment amount is adjusted once each year (on the anniversary of your annuity commencement date) to reflect the investment performance of your selected investment choice(s) over the preceding year (but your payment will not be less than the guaranteed minimum).

Fee. There is a charge for the Initial Payment Guarantee, which is in addition to the base product mortality and expense risk fee and administrative charge. This fee is reflected in the amount of the annuity payments that you receive if you select the Initial Payment Guarantee. It is reflected in the calculation of the annuity unit values.

The Initial Payment Guarantee fee is currently equal to an annual rate of 1.25% of the daily net asset value in the subaccounts. We can change the fee, and you pay whatever the fee is when you annuitize.

Other Terms and Conditions. The Initial Payment Guarantee uses a 5% assumed investment return to calculate your annuity payments. This means that the dollar amount of the annuity payments will remain level if the investment return (net of fees and expenses) exactly equals 5%. The payments will increase if actual investment performance (net of fees and expenses) exceeds the assumed investment return, and decrease if actual performance is below the assumed investment return (but not below the guaranteed level).

Termination. The Initial Payment Guarantee is irrevocable.

The Initial Payment Guarantee may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure explains the material features of the Initial Payment Guarantee. The application and operation of the Initial Payment Guarantee are governed by the terms and conditions of the policy itself.

Additional Death Distribution

The optional Additional Death Distribution rider pays an additional amount (based on earnings, if any, since the rider was issued) when a death benefit is payable during the accumulation phase under your policy, in certain circumstances. The Additional Death Distribution is only available for issue ages through age 80.

Additional Death Distribution Benefit Amount. The Additional Death Distribution is payable only if you elected the rider prior to the death triggering the payment of the policy death benefit and a death benefit is payable under the policy. The Additional Death Distribution is equal to:

• the Additional Death Distribution factor (see below); multiplied by

• the rider earnings, if any, on the date the death benefit is calculated.

Rider earnings equal:

• the policy value on the date the death benefit is determined; minus

• policy value on the rider date; minus

• premium payments after the rider date; plus

• surrenders after the rider date that exceed the rider earnings on the date of the surrender.

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No benefit is payable under the Additional Death Distribution rider if there are no rider earnings on the date the death benefit is calculated.

If you purchase your policy as part of a 1035 exchange or add the Additional Death Distribution rider after you purchase the policy, rider earnings do not include any gains before the 1035 exchange or the date the Additional Death Distribution is added to your policy.

The Additional Death Distribution factor is currently 40% for issue ages under 71 and 25% for issue ages 71-80, based on the annuitant’s age.

No benefit is paid under the rider unless (a) the rider is in force, (b) a death benefit is payable on the policy, and (c) there are rider earnings when the death benefit is calculated.

For purposes of computing taxable gains, both the death benefit payable under the policy and the Additional Death Distribution will be considered.

Please see “Appendix – Additional Death Distribution—Additional Information” for an example which illustrates the Additional Death Distribution payable as well as the effect of a partial surrender on the Additional Death Distribution benefit amount.

Spousal Continuation. If a spouse, as the new owner of the policy, elects to continue the policy instead of receiving a death benefit and Additional Death Distribution, the spouse will receive a one-time policy value increase equal to the Additional Death Distribution. At this time the rider will terminate. The spouse will have the option of immediately re-electing the rider through age 80. Please note that under federal tax law, upon the death of an owner, only a “spouse” as defined under the Federal Defense of Marriage Act is permitted to continue a policy without taking required distributions. (The payment of a death benefit under the policy is triggered by the death of the annuitant.)

Rider Fee. A rider fee, 0.25% of the policy value, is deducted annually on each rider anniversary prior to annuitization. We will also deduct this fee upon full surrender of the policy or other termination of the rider. The rider fee is deducted pro rata from each investment choice. The fee is deducted even during periods when the Additional Death Distribution would not pay any benefit (because there are no rider earnings).

Termination. The rider will remain in effect until:

• you cancel it by notifying our Administrative and Service Office in writing,

• the policy is annuitized or surrendered, or

• the Additional Death Distribution is paid or added to the policy value under a spousal continuation.

Once terminated, the Additional Death Distribution may be re-elected; however, a new rider will be issued and the additional death benefit will be re-determined. Please note that if the rider is terminated and then re-elected, it will only cover gains, if any, since it was re-elected and the terms of the new rider may be different than the terminated rider.

The tax consequences associated with this rider are not clear. This rider may violate the requirements of certain qualified plans and IRAs. Consult a tax advisor before electing this rider for any qualified plan or IRA.

Please note: This feature terminates upon annuitization and there is a mandatory annuitization date.

The Additional Death Distribution may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure

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explains the material features of the Additional Death Distribution. The application and operation of the rider are governed by the terms and conditions of the rider itself.

Additional Death Distribution+

The optional Additional Death Distribution+ rider pays an additional death benefit amount when a death benefit is payable during the accumultion phase under your policy, in certain circumstances. The Additional Death Distribution+ is only available for issue ages through age 75.

Additional Death Distribution+ Benefit Amount. An additional death benefit is only payable if a death benefit is paid on the base policy to which the rider is attached. The amount of the additional benefit is dependent on the amount of time that has passed since the rider date as follows:

• If a death benefit is payable within the first five years after the rider date, the additional benefit amount will be equal to the sum of all rider fees paid since the rider date.

• If a death benefit is payable after five years following the rider date, the additional benefit will be equal to the rider benefit base multiplied by the rider benefit percentage.

The rider benefit base at any time is equal to the policy value less any premiums added after the rider date.

The rider benefit percentage may vary but currently equals 30% for issue ages 0 - 70 and 20% for issue ages 71 - 75, based on the annuitant’s age.

No benefit is payable under the Additional Death Distribution+ if the policy value on the date the death benefit is paid is less than the premium payments after the rider date.

For purposes of computing taxable gains, both the death benefit payable under the policy and the additional benefit will be considered.

Please see “Appendix – Additional Death Distribution+—Additional Information” for an example that illustrates the additional death benefit payable as well as the effect of a partial surrender on the Additional Death Distribution+ benefit amount.

Spousal Continuation. If a spouse, as the new owner of the policy, elects to continue the policy instead of receiving the death benefit and Additional Death Distribution+, then the spouse will receive a one-time policy value increase equal to the Additional Death Distribution+. At this time the rider will terminate. The spouse will have the option of immediately re-electing the rider through age 75. Please note that under federal tax law, upon the death of an owner, only a “spouse” as defined under the Federal Defense of Marriage Act is permitted to continue a policy without taking required distributions. (The payment of a death benefit under the policy is triggered by the death of the annuitant.)

Rider Fee. A rider fee, currently 0.55% of the policy value, is deducted annually on each rider anniversary prior to annuitization. We will also deduct this fee upon full surrender of the policy or other termination of the rider.

Please note: the rider fee is deducted pro rata from each investment choice. The fee is deducted even during periods when the rider would not pay any benefits.

Termination. The rider will remain in effect until:

• you cancel it by notifying our Administrative and Service Office in writing in good order,

• the policy is annuitized or surrendered, or

• the additional death benefit is paid or added to the policy value under a spousal continuation.

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Once terminated, the Additional Death

Distribution+ may not be re-elected for one year.

The tax consequences associated with this rider are not clear. This rider may violate the requirements of certain qualified plans and for any qualified plan or IRAs. Consult a tax adviser before electing this rider.

Please note: This feature terminates upon annuitization and there is a maximum annuiity commencement date.

The Additional Death Distribution+ may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure explains the material features of the Additional Death Distribution+. The application and operation of the rider are governed by the terms and conditions of the rider itself.

Nursing Care and Terminal Condition Withdrawal Option

No excess interst adjustment will apply if you make a surrender ($1,000 minimum), under certain circumstances, because you or your spouse has been:

• confined in a hospital or nursing facility for 30 days in a row after the policy issue date; or

• diagnosed with a terminal condition after the policy issue date (usually a life expectancy of 12 months or less).

This benefit is also available to the annuitant or annuitant’s spouse if the owner is not a natural person.

You may exercise this benefit at any time (during the accumulation phase). There is no charge for this benefit.

There is no restriction on the maximum amount you may surrender under this benefit.

This benefit may vary for certain policies, may not be available for all policies, and may not be available in all states.

Unemployment Waiver

No excess interst adjustment will apply to surrenders after you or your spouse become unemployed in certain circumstances, because you were terminated, laid off, or otherwise lost your job involuntarily. In order to qualify, you (or your spouse, whichever is applicable) must have been:

• employed full time for at least two years prior to becoming unemployed;

• employed full time on the policy date;

• unemployed for at least 60 days in a row at the time of surrender;

• must have a minimum cash value at the time of surrender of $5,000; and

• you (or your spouse) must be receiving unemployment benefits.

You must provide written proof from your State’s Department of Labor, which verifies that you qualify for and are receiving unemployment benefits at the time of surrender.

You may select this benefit at any time (during the accumulation phase) and there is no charge for this benefit.

This benefit is also available to the annuitant or annuitant’s spouse if the owner is not a natural person. There is no charge for this benefit.

There is no restricion on the maximum amount you may surrender under this benefit.

This benefit may vary for certain policies, may not be available for all policies, and may not be available in all states.

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Telephone Transactions

You may generally make certain transactions by telephone upon our receipt of the appropriate authorization.

You will be required to provide certain information for identification purposes when requesting a transaction by telephone and we may record your telephone call. We may also require written confirmation of your request. We will not be liable for losses resulting from telephone requests that we believe are genuine. We reserve the right to revoke your telephone transaction privileges at any time without revoking all owners’ telephone transfer privileges.

Telephone requests must be received while the New York Stock Exchange is open for regular trading to get same-day pricing of the transaction. We may discontinue this option at any time.

We may deny the telephone transaction privileges to market timers and frequent or disruptive traders.

We cannot guarantee that telephone transactions will always be available. For example, our offices may be closed during severe circumstances or other emergencies. There may be interruptions in service beyond our control, and if the volume of calls is unusually high, we might not have anyone available, or lines available, to take your call. Although we have taken precautions to help our systems handle heavy use, we cannot promise complete reliability in all circumstances.

Dollar Cost Averaging Program

During the accumulation phase, you may instruct us to automatically make transfers into one or more variable subaccounts in accordance with your allocation instructions. This is known as Dollar Cost Averaging. While Dollar Cost Averaging buys more accumulation units when prices are low and fewer accumulation units when prices are high, it does not guarantee profits or assure that you will not experience a loss.

There are two Dollar Cost Averaging programs available under your policy:

• Traditional—You may specify the dollar amount to be transferred or the number of transfers. Transfers will begin as soon as the program is started.

• Special—You may only elect either a six or twelve month program. Transfers will begin as soon as the program is started. You cannot transfer from another investment choice into a Special Dollar Cost Averaging program. This program is only available for new premium, requires transfers from a fixed source, and may credit a higher or lower interest rate than a traditional program.

A minimum of $500 per transfer is required. A minimum of $3,000 is required to start a 6-month program and $6,000 is required to start a 12-month program. The minimum number of transfers is 6 monthly or 4 quarterly, and the maximum is 24 monthly or 8 quarterly.

You can elect to transfer from one of the fixed or variable sources listed on the Dollar Cost Averaging election form (only fixed sources are available for special Dollar Cost Averaging programs).

A Dollar Cost Averaging program will begin once we have received in good order all necessary information and the minimum required amount. Please note: Dollar Cost Averaging programs will not begin on the 29th, 30th, or 31st. If a program would have started on one of those dates, it will start on the 1st business day of the following month. If we receive additional premium payments while a Dollar Cost Averaging program is running, absent new instructions to the contrary, the amount of the Dollar Cost Averaging transfers will increase, but the length of the Dollar Cost Averaging program will not.

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NOTE CAREFULLY:

IF:

• we do not receive all necessary information to begin an initial Dollar Cost Averaging program within 30 days of allocating the minimum required amount to a Dollar Cost Averaging program; or

• we do not receive the minimum required amount to begin an initial Dollar Cost Averaging program within 30 days of allocating an insufficient amount;

THEN:

• any amount in a fixed source will be transferred to the money market investment choice; and

• any amount in a variable source will remain in that variable investment choice; and

• new instructions will be required to begin a Dollar Cost Averaging program.

IF:

• we receive additional premium payments after a Dollar Cost Averaging program is completed and the additional premium meets the minimum requirements to start a Dollar Cost Averaging program;

THEN:

• we will, absent new instructions to the contrary, start a new Dollar Cost Averaging program using the previous instructions.

IF:

• we receive additional premium payments after a Dollar Cost Averaging program is completed, and the additional premium does not meet the minimum requirements to start a Dollar Cost Averaging program;

THEN:

• we will, absent new instructions to the contrary, allocate the additional premium as identified in the previous Dollar Cost Averaging program.

IF:

• you discontinue a Dollar Cost Averaging program before its completion;

THEN:

• we will, absent new instructions to the contrary, transfer any remaining balance directly into the subaccounts in the Dollar Cost Averaging instructions.

You should consider your ability to continue a Dollar Cost Averaging program during all economic conditions.

There is no charge for this benefit.

The Dollar Cost Averaging Program may vary for certain policies, may not be available for all policies, and may not be available in all states. See your policy for availability of the fixed account options.

Asset Rebalancing

During the accumulation phase you can instruct us to automatically rebalance the amounts in your subaccounts to maintain your desired asset allocation. This feature is called Asset Rebalancing and can be started and stopped at any time. However, we will not rebalance if you are in the Dollar Cost Averaging program or if any other transfer is requested. If a transfer is requested, we will honor the requested transfer and discontinue Asset Rebalancing. New instructions are required to start Asset Rebalancing. Asset Rebalancing ignores amounts in the fixed account. You can choose to rebalance monthly, quarterly, semi-annually, or annually.

There is no charge for this benefit.

Guaranteed Lifetime Withdrawal Benefits

You may elect one of the following optional riders under the policy that offers guaranteed lifetime withdrawal benefits - the Living Benefits Rider, the Retirement Income Choice^SM 1.2, the Retirement

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Income Choice^SM 1.4 or the Income Link^SM Rider.. Important aspects of each of these riders are summarized in the “Appendix - Guaranteed Lifetime Withdrawal benefit Comparison Table” and are described in more detail below. You should consult with tax and financial professionals to determine which of these riders is appropriate for you.

The following benefits are no longer available for new sales, but if you have previously elected one of these riders you can still upgrade:

• 5 for Life Rider

• 5 for Life with Growth Rider

• Income Select for Life Rider

• Retirement Income Choice Rider

• Retirement Income Choice with Double Withdrawal Base Benefit Rider

Living Benefits Rider

You may elect to purchase the optional Living Benefits Rider which provides you with a guaranteed minimum accumulation benefit and a guaranteed minimum withdrawal benefit. The Living Benefits Rider is only available during the accumulation phase. The Living Benefits Rider is only available for annuitant issue ages through age 80. The maximum issue age may be lower if required by state law.

You should view the Living Benefits Rider as a way to permit you to invest in variable investment choices while still having your policy value and liquidity protected to the extent provided by the Living Benefits Rider.

Please note:

• Certain protections under the rider are available only if you hold the rider for ten years.

• If you elect the rider, we will monitor your policy value and we may transfer amounts back and forth between specified investment choices under the policy (including guaranteed period options in the fixed account) and the variable investment choices you choose, according to a mathematical model that we will use to assist us in managing portfolio risk and supporting the guarantees under the rider. See “Portfolio Allocation Method” below.

• You will begin paying the rider charge as of the date the rider takes effect, even if you do not begin taking withdrawals for many years, or ever. We will not refund the charges you have paid under the rider if you never choose to take withdrawals and/or if you never receive any payments under the rider.

• We have designed this rider for you to take withdrawals each rider year that are less than or equal to the maximum annual withdrawal amount. You should not purchase this rider if you plan to take withdrawals in excess of the maximum annual withdrawal amount, because such excess withdrawals may significantly reduce or eliminate the value of the guarantees provided by the rider.

• Because the guaranteed minimum withdrawal benefit under this rider is accessed through regular withdrawals that do not exceed the maximum annual withdrawal amount, the rider may not be appropriate for you if you do not foresee a need for liquidity and your primary objective is to take the maximum advantage of the tax deferral aspect of the policy.

• The tax rules for qualified policies may limit the value of this rider. Please consult a qualified tax advisor before electing the Living Benefits Rider for a qualified policy.

• Any such transfers out of a guaranteed period option may be subject to an excess interest adjustment. We intend to include among the

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specified investment choices fixed account options to which excess interest adjustments do not apply. (See “Portfolio Allocation Method,” below.)

Guaranteed Minimum Accumulation Benefit

If you elect the Living Benefits Rider, we will provide a guaranteed future value. This benefit is intended to provide a level of protection regardless of the performance of the variable investment choices you select.

Guaranteed Future Value. We guarantee that, on the guaranteed future value date (ten years after you elect the rider), your policy value will at least equal your guaranteed future value. The guaranteed future value on the rider date (i.e., the date the rider is added to the policy) is the policy value (less any premium enhancements if the rider is added in the first policy year). After the rider date and before the guaranteed future value date, the guaranteed future value is equal to:

• the guaranteed future value on the rider date; plus

• a percentage of subsequent premium payments (as described below); less

• subsequent adjusted partial withdrawals (as described below).

After the guaranteed future value date, the guaranteed future value equals zero.

Subsequent Premium Payments. The percentage of subsequent premium payments that will be added to the guaranteed future value is as follows:

Rider Year	Percent of subsequent premium payments added to guaranteed future value
1	100	%
2	90	%
3	80	%
4	70	%
5	60	%
6	50	%
7	50	%
8	50	%
9	50	%
10	0	%

Guaranteed Future Value Adjusted Partial Withdrawals. If you take a partial withdrawal, it will reduce your guaranteed future value. The amount of the reduction is referred to as the adjusted partial withdrawal amount, which will be equal to the greater of:

• the guaranteed future value immediately prior to the withdrawal multiplied by the percentage reduction in the policy value resulting from the gross partial withdrawal; or

• the gross partial withdrawal amount.

(The gross partial withdrawal amount is the amount you request, plus any excess interest adjustment that may be applicable.)

In other words, if your policy value is greater than the guaranteed future value at the time you make a partial withdrawal, then your guaranteed future value is reduced by the same amount we reduce your policy value. However, if your policy value is less than the guaranteed future value at the time you make a partial withdrawal, then your guaranteed future value will be reduced by more than the amount we reduce your policy value.

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See the “Appendix—Living Benefits Rider Adjusted Partial Withdrawals” to this prospectus for examples showing the effect of hypothetical withdrawals in more detail, including withdrawals that reduce the guaranteed future value by more than the amount of the gross partial withdrawal.

Guaranteed Minimum Accumulation Benefit. On the guaranteed future value date (ten years after you elect the rider), if the policy value is less than the guaranteed future value, we will add an amount equal to the difference to your policy value. After the guaranteed future value date, the guaranteed minimum accumulation benefit will terminate.

Example. Assume you make a single premium payment of $100,000 and you do not make any withdrawals or additional premium payments. If, on the guaranteed future value date, your policy value has declined to $90,000 because of negative investment performance, then we will add $10,000 ($100,000 – $90,000) to your policy value.

Please note: You do not have any protection under the guaranteed minimum accumulation benefit unless you hold the policy with the rider for ten years. If you think that you may terminate the policy or elect to start receiving annuity payments (or if you must begin taking required minimum distributions) before the guaranteed future value date, electing the rider may not be in your best interests.

Guaranteed Minimum Withdrawal Benefit

If you elect the Living Benefits Rider, (first as withdrawals from your policy value or, if necessary, as payments from us) we will provide a maximum annual withdrawal amount regardless of your policy value. This benefit is intended to provide a level of benefits regardless of the performance of the variable investment choices you select.

Withdrawal Guarantees. We account for the withdrawals you take under the rider by applying two different withdrawal guarantees:

• “principal back,” for withdrawals of up to 7% of your total withdrawal base.

• “for life,” for withdrawals of up to 5% of your total withdrawal base.

When you make a withdrawal, you do not need to specify it as being under either withdrawal guarantee. Any withdrawals that you take while the rider is in effect could have different impacts under each of the withdrawal guarantees—on your maximum annual withdrawal amount, on your total withdrawal base, and on your minimum remaining withdrawal amount. For example, withdrawals that are compliant with the “principal back” maximum withdrawal amount could result in excess withdrawals under the “for life” withdrawal guarantee and, consequently, would reduce the maximum annual withdrawal amount, the total withdrawal base, and the minimum remaining withdrawal amount under the “for life” withdrawal guarantee. (See “Adjusted Partial Withdrawals” below.)

Your ability to change the frequency or amount of your withdrawals ceases if your policy value reaches zero.

Of course, you can always withdraw an amount up to your cash value pursuant to your rights under the policy at your discretion. See “Appendix - Living Benefits Rider Adjusted Partial Withdrawals,” for examples showing the effect of hypothetical withdrawals in more detail, including an excess withdrawal that reduces the total withdrawal base by a pro rata amount.

Please note:

• Any amount withdrawn in a rider year (including any excess interest adjustment) in excess of the maximum withdrawal amount is an excess withdrawal.

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• The amount of your excess withdrawal will impact the maximum annual withdrawal amount, total withdrawal base, and minimum remaining withdrawal amount under each guarantee on a greater than dollar-for-dollar basis. (See “Maximum Annual Withdrawal Benefit,” “Total Withdrawal Base,” and “Minimum Remaining Withdrawal Amount,” below.)

Withdrawals under the guaranteed minimum withdrawal benefit also:

• reduce your policy value;

• reduce your death benefit and other benefits;

• may be subject to any excess interest adjustment; and

• may be subject to income taxes and federal tax penalties (See “Section 9. Taxes”).

Maximum Annual Withdrawal Amount. Under this benefit:

• you can withdraw up to 7% of your “principal back” total withdrawal base each rider year until your “principal back” minimum remaining withdrawal amount reaches zero;

Example. Assume you make a single premium payment of $100,000 and that you do not make any withdrawals or additional premium payments. Assume that after five years, your policy value has declined to $70,000 solely because of negative investment performance. You could still receive up to $7,000 (7% of $100,000) each rider year for the next fourteen years and $2,000 in the year immediately thereafter so you would get back your full $100,000 (assuming that you do not withdraw more than $7,000 in any one rider year).

• or, you can withdraw up to 5% of your “for life” total withdrawal base each rider year starting with the rider anniversary immediately following the annuitant’s 59th birthday and lasting until the annuitant’s death, unless your “for life” minimum remaining withdrawal amount reaches zero because of “excess withdrawals” (see “Adjusted Partial Withdrawals,” below). A penalty tax may be assessed on amounts surrendered from the policy before the annuitant reaches age 59 ¹/2.

Example. Assume you are the owner and annuitant and you make a single premium payment of $100,000 when you are 55 years old. Assume you do not make any withdrawals or additional premium payments. Assume that after five years, your policy value has declined to $70,000 solely because of negative investment performance. You could still receive up to $5,000 (5% of $100,000) each rider year for the rest of your life (assuming that you do not withdraw more than $5,000 in any one rider year).

You can receive up to the maximum annual withdrawal amount each rider year (first as withdrawals from your policy value and, if necessary, as payments from us) under this rider regardless of your policy value; however, once your policy value reaches zero you cannot make premium payments, and all other policy features, benefits, and guarantees (except those provided by this rider) are terminated. In order to continue withdrawals under this rider after your policy value reaches zero, you must select an amount and frequency of future withdrawals. Once selected, the amount and frequency of future withdrawals after your policy value reaches zero cannot be changed.

Please note:

• Withdrawals under the 5% “for life” guarantee cannot begin until after the rider anniversary following the annuitant’s 59th birthday.

• Any withdrawal before the rider anniversary following the annuitant’s 59th birthday will reduce the benefits under the 5% “for life” guarantee.

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• The maximum annual withdrawal amounts described above (the 7% “principal back” and 5% “for life”) are based on rider years, not calendar or policy years (if different from rider years).

• You cannot carry over any portion of your maximum annual withdrawal amount that is not withdrawn during a rider year for withdrawal in a future rider year. This means that if you do not take the maximum annual withdrawal amount during a rider year, you cannot take more than the maximum annual withdrawal amount in the next rider year and maintain the rider’s guarantees.

• Excess withdrawals may cause you to lose the benefit of the rider.

• If you have a qualified policy, minimum required distribution rules may force you to take excess withdrawals to avoid the imposition of a 50% excise tax. You should consult a tax advisor before purchasing this rider with a qualified policy.

Total Withdrawal Base. We use the total withdrawal base to calculate the maximum annual withdrawal amount. The total withdrawal base on the rider date is the policy value (less any premium enhancements if the rider is added in the first policy year). After the rider date, the total withdrawal base is equal to:

• the total withdrawal base on the rider date; plus

• subsequent premium payments; less

• subsequent adjusted partial withdrawals (as described below).

We will calculate separate total withdrawal bases for the “principal back” and “for life” guarantees.

Please note: We determine the total withdrawal base solely to calculate the maximum annual withdrawal amount. Your total withdrawal base is not a cash value, a surrender value, or a death benefit. It is not available for withdrawal, it is not a minimum return for any subaccount, and it is not a guarantee of policy value.

Minimum Remaining Withdrawal Amount. The minimum remaining withdrawal amount represents the total amount of guaranteed withdrawals still available under the rider. The minimum remaining withdrawal amount on the rider date is the policy value (less any premium enhancements if the rider is added in the first policy year). After the rider date, the minimum remaining withdrawal amount is equal to:

• the minimum remaining withdrawal amount on the rider date; plus

• subsequent premium payments; less

• subsequent adjusted partial withdrawals (as described below).

We will calculate separate minimum remaining withdrawal amounts for the “principal back” and “for life” guarantees.

Adjusted Partial Withdrawals. Each rider year, for each withdrawal guarantee (i.e., “principal back” and “for life”), gross partial withdrawals (the amount that you request be withdrawn, plus any excess interest adjustment that may be applicable) up to the maximum annual withdrawal amount for that withdrawal guarantee, will reduce the minimum remaining withdrawal amount for that withdrawal guarantee on a dollar-for-dollar basis, but will not reduce the total withdrawal base for that withdrawal guarantee. For each withdrawal guarantee, gross partial withdrawals in excess of the maximum annual withdrawal amount for that withdrawal guarantee will reduce the total withdrawal base and minimum remaining withdrawal amount for that withdrawal guarantee by a pro rata amount (possibly to zero). See “Appendix - Living Benefits Rider Adjusted Partial Withdrawals,” which provides examples showing the effect of a withdrawal. Excess withdrawals may cause you to lose the withdrawal guarantees under this rider.

Please note: Gross partial withdrawals that are compliant with the “principal back” withdrawal guarantee (i.e., withdrawals of the “principal back”

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maximum annual withdrawal amount) and any partial withdrawal before the rider anniversary following the annuitant’s 59th birthday, will result in an excess partial withdrawal under the “for life” guarantee, and will reduce the “for life” maximum annual withdrawal amount, the “for life” total withdrawal base, and the “for life” minimum remaining withdrawal amount. Such reduction may be on a greater than dollar-for-dollar basis.

Rider Fee. A rider fee, 0.90% of the “principal back” total withdrawal base on each rider anniversary, is charged annually before annuitization. We will also deduct the rider fee upon full surrender of the policy or other termination of the rider. The rider fee is deducted from each investment choice in proportion to the amount of policy value in each investment choice. Generally, the rider fee is deducted regardless of your values (i.e., even if your policy value exceeds your total withdrawal base).

We will continue to calculate the rider fee using the “principal back” total withdrawal base even after the “principal back” minimum remaining withdrawal amount reaches zero. The “principal back” total withdrawal base is always greater than or equal to the “for life” total withdrawal base.

Please note: Because the rider fee is a percentage of your “principal back” total withdrawal base on each rider anniversary, the fee can be substantially more than 0.90% of your policy value if that total withdrawal base is higher than your policy value.

Portfolio Allocation Method

If you elect the Living Benefits Rider, the Portfolio Allocation Method (“PAM”) will automatically be in effect. PAM is designed to help manage portfolio risk and support the guarantees under the Living Benefits Rider. Using PAM, we will monitor your policy value and may transfer amounts back and forth between the PAM Transamerica U.S. Government Securities VP—Service Class subaccount (which invests in the Transamerica U.S. Government Securities VP—Service Class portfolio of the Transamerica Series Trust) or certain guaranteed period options of the fixed account (each a “PAM investment choice” and collectively, the “PAM investment choices”) and the variable investment choices you choose. You should read the underlying fund prospectus for the variable PAM investment choice(s) carefully before you elect the Living Benefits Rider. We will transfer amounts from your variable investment choices to the PAM investment choices to the extent we deem, at our sole discretion, necessary to support the guarantees under the rider. We will transfer amounts to the PAM investment choices proportionally from all your variable investment choices. Currently, PAM transfers are being made to the PAM Transamerica U.S. Government SecuritiesVP—Service Class subaccount.

PAM is designed to help reduce portfolio risk associated with negative performance. Using PAM, we will transfer amounts from your variable investment choices to the PAM investment choices to the extent we deem, in our sole discretion, necessary to help manage portfolio risk and support the guarantees under the Living Benefits Rider. You should not view the Living Benefits Rider nor PAM as a “market timing” or other type of investment program designed to enhance your policy value. If you choose this rider, it may result in a lower policy value in certain situations. If policy value is transferred from your chosen variable investment choices to the PAM investment choices, less of your policy value may be available to participate in any future positive investment performance of your variable investment choices. This may potentially provide a lower policy value than if you did not select the Living Benefits Rider.

We will use a mathematical model to compare your policy value and the guarantees to be provided in the future. Based upon this comparison, we may transfer some or all of your policy value to or from the PAM investment choices.

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You may not allocate premium payments to, nor transfer policy value into or out of, the PAM investment choices. PAM transfers are not subject to any transfer fee and do not count against the number of any free transfers we allow. Transfers out of a fixed account PAM investment choice are at our discretion and may be subject to an excess interest adjustment if the transfer occurs before the end of a guarantee period. Any transfer to your variable investment choices will be allocated into your variable investment choices in proportion to the amount of policy value in each variable investment choice.

Generally, transfers to the PAM investment choices first occur when the policy value drops by a cumulative amount of 3% to 5% over any period of time, although we may make transfers to the PAM investment choices when the policy value drops by less than 3%. If the policy value continues to fall, more transfers to the PAM investment choices will occur. When a transfer occurs, the transferred policy value is allocated to the PAM investment choice(s) we deem appropriate. The policy value allocated to the PAM investment choices will remain there unless the performance of your chosen investment choices recovers sufficiently to enable us to transfer amounts back to your investment choices while maintaining the guarantees under the Living Benefits Rider. This generally occurs when the policy value increases by 5% to 10% in relation to the guarantees, although we may require a larger increase before transferring amounts back to your investment options.

Upgrades

Prior to the annuitant’s 86th birthday and after the third rider anniversary, you can upgrade the total withdrawal base and guaranteed future value to the policy value by sending us written notice. The minimum remaining withdrawal amounts will also be upgraded to the policy value and the maximum annual withdrawal amounts will be recalculated.

If an upgrade is elected, your current rider will terminate and a new rider will be issued with a new rider date, guaranteed future value date, and its own rider fee percentage (which may be higher than your current rider fee percentage). The “principal back” and “for life” withdrawal percentages will not change. The new rider date will be the date the Company receives all necessary information.

Annuitization

If you have reached your maximum annuity commencement date, we will allow you to annuitize your policy and elect to receive lifetime annuity payments equal to your 5% “for life” maximum annual withdrawal amount.

Termination

The Living Benefits Rider will terminate upon the earliest of the following:

• the date we receive written notice from you in good order requesting termination of the Living Benefits Rider (you may not terminate the rider before the third rider anniversary);

• annuitization (however, if you have reached your maximum annuity commencement date you may choose an annuitization option which guarantees you lifetime payments in an amount equal to your 5% “for life” maximum annual withdrawal amount); or

• termination of your policy.

Please note: This feature terminates upon annuitization and there is a maximum annuity commencement date.

The Living Benefits Rider may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure explains the material features of the Living Benefits Rider. The application and operation of the rider are governed by the terms and conditions of the rider itself.

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Retirement Income Choice^SM 1.2 Rider

You may elect to purchase the optional Retirement Income Choice^SM 1.2 Rider which, provides you with: (1) a guaranteed lifetime withdrawal benefit; and (2) an opportunity for increases in the rider withdrawal amount. This rider is available during the accumulation phase, and requires that you allocate 100% of your policy value according to either the designated allocation option or open allocation option both of which are designed to help manage the Company’s risk and support the guarantees under the rider. The tax rules for qualified policies may limit the value of this rider. Please consult a qualified tax advisor before electing the Retirement Income Choice^SM 1.2 rider for a qualified policy.

Retirement Income Choice^SM 1.2 – Base Benefit

Under this benefit, you can receive up to the rider withdrawal amount each rider year (first as withdrawals from your policy value and, if necessary, as payments from us), starting with the rider year immediately following the annuitant’s (or the annuitant’s spouse if younger and the joint life option is elected) 59th birthday and lasting until the annuitant’s death (unless your withdrawal base is reduced to zero because of an “excess withdrawal”; see Withdrawal Base Adjustments and Rider Death Benefit Adjustments, below). A rider year begins on the rider date (the date the rider becomes effective) and thereafter on each anniversary of that date.

Example. Assume you are the owner and annuitant and you make a single premium payment of $100,000 when you are 66 years old. Further assume that you do not make any withdrawals or additional premium payments, no automatic step-ups occurred, but that after five years your policy value has declined to $90,000 solely because of negative investment performance. With an annual growth rate percentage of 5.0%, after 5 years the withdrawal base is equal to $127,628 ($100,000 x 1.05 ⁵). You could receive up to $5,105 which is the applicable withdrawal percentage of 5.0% for the single life option multiplied by the withdrawal base of $127,628, each rider year for the rest of your life (assuming that you take your first withdrawal when you are age 71, that you do not withdraw more than the rider withdrawal amount in any one year and there are no future automatic step-ups.)

Of course, you can always withdraw an amount up to your cash value pursuant to your rights under the policy at your discretion.

Example continued. Assume the same facts as above, but you withdraw $10,000 when you are 71 years old. That excess withdrawal decreases your future rider withdrawal amount to $4,811.

See the “Appendix—Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail.

Please note:

• You will begin paying the rider charge as of the date the rider takes effect, even if you do not begin taking withdrawals for many years, or ever. We will not refund the charges you have paid under the rider if you never choose to take withdrawals and/or if you never receive any payments under the rider.

• We have designed this rider to allow for withdrawals from your policy value each rider year that are less than or equal to the rider withdrawal amount. You should not purchase this rider if you plan to take withdrawals in excess of the rider withdrawal amount, because such excess withdrawals may significantly reduce or eliminate the value of the guarantees provided by the rider.

• The longer you wait to start making withdrawals under the benefit, the less time you have to benefit from the guarantee because of decreasing life expectancy as you age. On the other hand,

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the longer you wait to begin making withdrawals, the higher your withdrawal percentage may be, the higher the withdrawal base due to growth may be, and the more opportunities you will have to lock in a higher withdrawal base. You should carefully consider when to begin making withdrawals. There is a risk that you will not begin making withdrawals at the most financially beneficial time for you.

• Because the guaranteed lifetime withdrawal benefit under this rider is accessed through regular withdrawals that do not exceed the rider withdrawal amount, the rider may not be appropriate for you if you do not foresee a need for liquidity and your primary objective is to take maximum advantage of the tax deferral aspect of the policy.

• All policy value must be allocated according to the Designated Allocation option or the Open Allocation option. You should consult with your registered representative to assist you in determining whether the investment restrictions attributable to each option are suited for your financial needs and risk tolerance.

• Cumulative withdrawals in any rider year that are in excess of the rider withdrawal amount are excess withdrawals.

• An excess withdrawal may impact the withdrawal base, and rider death benefit (if applicable) on a greater than dollar-for-dollar basis.

• Any withdrawal will reduce your rider death benefit (if applicable).

• Upon the death of the annuitant (or the death of the surviving spouse if the joint option is elected), the Retirement Income Choice^SM 1.2 rider terminates and all benefits thereunder cease.

Like all withdrawals, withdrawals while this rider is in effect also:

• reduce your policy value;

• reduce your base policy death benefit and other benefits;

• may be subject to surrender charges and excess interest adjustments;

• may be subject to income taxes and federal tax penalties; and

• may be limited or restricted under certain qualified policies.

Rider Withdrawal Amount. You can withdraw up to the rider withdrawal amount in any rider year (after age 59) from your policy value without causing an excess withdrawal. See “Withdrawal Base Adjustments” and “Rider Death Benefit Adjustments” below.

The rider withdrawal amount is zero if the annuitant is not 59 years old on the rider date and remains zero until the first day of the rider year after the annuitant’s 59th birthday. If the annuitant (or the annuitant’s spouse if younger and the joint life option is elected) is at least 59 years old on the rider date, then the rider withdrawal amount is equal to the withdrawal base multiplied by the withdrawal percentage (see below).

For qualified policies: If the plan participant (generally the annuitant) is at least 70 ¹/2 years old, the rider withdrawal amount for that rider year (and each subsequent rider year) is equal to the greater of:

• the rider withdrawal amount described above; or

• an amount equal to any minimum required distribution amount (for the tax year on that rider anniversary) calculated using only: (1) the living annuitant’s age, (2) the IRS Uniform Lifetime table or, if applicable, the Joint Life and Survivor Expectancy table, (3) the policy value of the base policy, (including the present value of any additional benefits provided under the policy to the extent required to be taken into account under IRS guidance) and (4) amounts from the current calendar year (no carry-over from past years).

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Only amounts calculated as set forth above can be used as the rider withdrawal amount. If the minimum required distribution amount (determined as set forth above) exceeds the rider withdrawal amount, the excess will not be treated as an excess withdrawal under the rider.

If your policy value reaches zero, then you cannot make premium payments and all other policy features, benefits, and guarantees (except those provided by this rider) are terminated. In order to receive benefits guaranteed by this rider after your policy value reaches zero, you must select the amount and frequency of future payments. Once selected, the amount and frequency cannot be changed.

Please note:

• If the rider is added prior to the annuitant’s 59th birthday, the rider withdrawal amount will be zero until the beginning of the rider year after the annuitant’s 59th birthday, however, you will still be charged a rider fee prior to this time.

• You cannot carry over any portion of your rider withdrawal amount that is not withdrawn during a rider year for withdrawal in a future rider year. This means that if you do not take the entire rider withdrawal amount during a rider year, you cannot take more than the rider withdrawal amount in the next rider year and maintain the rider’s guarantees.

• Excess withdrawals may cause you to lose the benefit of the rider.

• All policy value must be allocated according to either the Designated Allocation option or the Open Allocation option. (See “Allocation Options and Restrictions.”)

Withdrawal Percentage. We use the withdrawal percentage to calculate the rider withdrawal amount. The withdrawal percentage is determined by the annuitant’s age (or the annuitant’s spouse if younger and the joint life option is elected) at the time of the first withdrawal taken on or after the rider anniversary immediately following the annuitant’s (or the annuitant’s spouse if younger and the joint life option is elected) 59th birthday. The withdrawal percentage is as follows:

Age at time of first withdrawal	Withdrawal Percentage— Single Life Option		Withdrawal Percentage— Joint Life Option
0-58	0.0	%	0.0	%
59-64	4.0	%	3.5	%
65-74	5.0	%	4.5	%
³75	6.0	%	5.5	%

Please note, once established, the withdrawal percentage will not generally increase even though the annuitant’s age increases except in certain instances involving automatic step-ups.

Withdrawal Base. We use the withdrawal base to calculate the rider withdrawal amount. The withdrawal base on the rider date is the policy value (less any premium enhancement, if the rider is added in the first policy year). During any rider year, the withdrawal base is equal to the withdrawal base on the rider date or most recent rider anniversary, plus subsequent premium payments, less subsequent withdrawal base adjustments due to excess withdrawals.

Please note:

• We determine the withdrawal base solely to calculate the rider withdrawal amount. Your withdrawal base is not a cash value, a surrender value, or a death benefit. It is not available for withdrawal, it is not a minimum return for any subaccount, and it is not a guarantee of policy value.

• Because the withdrawal base is generally equal to the policy value on the rider date, the rider withdrawal amount may be lower if you delay electing the rider and the policy value decreases before you elect the rider.

On each rider anniversary, the withdrawal base will equal the greatest of:

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• Current withdrawal base;

• The withdrawal base immediately before the rider anniversary, increased by the growth credit, if any (see “Growth” below);

• The policy value on any monthiversary, including the current rider anniversary (see “Automatic Step-Up” below).

Growth. On each of the first ten rider anniversaries, we will add an annual growth credit to your withdrawal base if no withdrawal occurred during the preceding rider year. The annual growth credit is equal to 5.0% of the withdrawal base immediately before the rider anniversary (i.e., withdrawal base x 0.05).

Please note: Because a withdrawal will eliminate a potential growth credit for that rider year, you should consider your need or possible need to take withdrawals within the first 10 rider years in deciding whether to purchase the rider.

Automatic Step-Up. On each rider anniversary, we will automatically step-up the withdrawal base to an amount equal to the greater of (1) the highest policy value on any monthiversary during the preceding rider year, if no excess withdrawal occurred, or (2) the policy value on the rider anniversary. This comparison takes place after the application of any applicable annual growth credit. The withdrawal percentage (as indicated in the withdrawal percentage table) will also increase if you have crossed into another age band prior to the automatic step-up.

Beginning on the fifth rider anniversary, the rider fee percentage may increase (or decrease) at the time of any automatic step-up. The rider fee percentage will not exceed the maximum rider fee percentage in the fee table.

Automatic Step-Up Opt Out. Each time an automatic step-up results in a rider fee percentage increase, you have the option to reject the automatic step-up and reinstate the withdrawal base, withdrawal percentage, and rider fee percentage to their respective amounts immediately before the automatic step-up, provided that you do so within 30 days after the rider anniversary on which the automatic step-up occurred. We must receive your rejection (each time you elect to opt out), in good order, at our Administrative and Service Office within the same 30 day period after the rider anniversary on which the automatic step-up occurred. Opting out of one step-up does not operate as an opt-out of any future step-ups.

Withdrawal Base Adjustments. Cumulative gross partial withdrawals up to the rider withdrawal amount in any rider year will not reduce the withdrawal base. Cumulative gross partial withdrawals in excess of the rider withdrawal amount in any rider year (“excess withdrawals”) will reduce the withdrawal base, however, by the greater of the dollar amount of the excess withdrawal (if the policy value is greater than the withdrawal base) or a pro rata amount (in proportion to the reduction in the policy value when the policy value is less than the withdrawal base), possibly to zero. Withdrawal base adjustments occur immediately following excess withdrawals. See “Appendix - Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail, including an excess withdrawal that reduces the withdrawal base by a pro rata amount. The effect of an excess withdrawal is amplified if the policy value is less than the withdrawal base. See the “Appendix - Guaranteed Lifetime Benefit Adjustment Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect hypothetical excess withdrawals in more detail.

Please Note: We do not monitor for, or notify you of, excess withdrawals. If you take regular or scheduled withdrawals please pay particular attention

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to any excess withdrawal because your otherwise regular or scheduled non-excess withdrawals may thereafter all be excess withdrawals that reduce or eliminate your benefit on an accelerated basis.

Allocation Options and Restrictions. If you elect this rider, you must allocate 100% of your policy value according to either the Designated Allocation option or the Open Allocation option. Transfers will be permitted between the Designated Allocation option and the Open Allocation option at any time.

Designated Allocation Option. Under the Designated Allocation option, you must designate 100% of your policy value into one or more of the designated investment options in the following designated allocation groups:

Designated Allocation Group A

AllianceBernstein Balanced Wealth Strategy Portfolio – Class B

Fidelity VIP Balanced Portfolio – Service Class 2

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Transamerica Asset Allocation - Moderate Growth VP – Service Class

Transamerica International Moderate Growth VP – Service Class

Transamerica Balanced VP – Service Class

Transamerica Efficient Markets VP – Service Class

Transamerica Index 75 VP – Service Class

American Funds - Asset Allocation Fund—Class 2

GE Investments Total Return Fund – Class 3

Designated Allocation Group B

Transamerica Asset Allocation - Moderate VP – Service Class

Transamerica BlackRock Global Allocation VP – Service Class

Transamerica BlackRock Tactical Allocation VP – Service Class

Transamerica Index 50 VP – Service Class

Designated Allocation Group C

Transamerica Asset Allocation - Conservative VP – Service Class

Transamerica Foxhall Global Conservative VP – Service Class

Transamerica PIMCO Total Return VP – Service Class

Transamerica Money Market VP – Service Class

Transamerica U.S. Government Securities VP – Service Class

Transamerica Index 35 VP – Service Class

American Funds - Bond Fund – Class 2

Fixed Account

Transfers between the designated investment options in the Designated Allocation option are allowed as permitted under the policy; however, transfers as provided for in the policy from a designated investment option to a non-designated investment option are not permitted unless you change your allocation option to the Open Allocation option.

Open Allocation Option. Under the Open Allocation option, you may allocate to any investment options available under the policy.

If you elect the Open Allocation option, the OA Method will automatically be in effect. The OA Method uses a mathematical model which is designed to help the Company manage portfolio risk and support the guarantees under the rider. Under the OA Method, the mathematical model monitors your policy value and guarantees under the rider and transfers amounts back and forth between the OA Transamerica ProFund UltraBear VP subaccount or certain other subaccounts we choose (each an “OA subaccount” and collectively, the “OA subaccounts”) and the variable investment options you choose to the extent necessary to support the benefit guarantees. You will still have complete discretion over the selection of, and allocation to, the variable investment options for any portion of your policy value that the OA Method does not allocate to the

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OA subaccounts. You should read the underlying fund prospectus for the variable OA subaccounts carefully before you elect the Open Allocation option.

Transfers to the OA subaccounts according to the mathematical model will be proportionally from all your variable investment options. This mathematical model will not change once you purchase the rider, but we may use a different model for riders issued in the future.

The OA Method is designed to help manage the Company’s portfolio risk associated with negative performance and support the guarantees under the rider. You should not view the rider nor the OA Method as a “market timing” or other type of investment program designed to enhance your policy value. If you choose the Open Allocation option, it may result in a lower policy value in certain situations. If policy value is transferred from your chosen variable investment options to the OA subaccounts, less of your policy value may be available to participate in any future positive investment performance of your variable investment options. This may potentially provide a lower policy value than if you did not select the Open Allocation option.

Under the OA Method, the mathematical model compares a number of interrelated factors including your policy value and the guarantees under the rider to be provided in the future. The mathematical model also uses assumptions for interest rates, the duration of the policy and stock market volatility. The following table sets forth the most influential of these factors and indicates how each one (assuming all other factors remain constant) could trigger a transfer into or out of the OA subaccounts.

Factor	Direction of Transfer
Policy Value Increases	Transfer to the investment options
Policy Value Decreases	Transfer to the OA subaccounts
Interest Rates Increase	Transfer to the investment options
Volatility Increases	Transfer to the OA subaccounts

The amount of the transfer will vary depending on the magnitude and direction of the change in these factors.

Transactions you make also affect the number of OA transfers including:

• additional premium payments; and

• excess withdrawals.

These transactions will change the policy value relative to the guarantees under the rider and may result in additional OA transfers.

You may not allocate premium payments to, nor transfer policy value into or out of, the OA subaccounts. OA Method transfers are not subject to any transfer fee and do not count against the number of any free transfers we allow. Any transfer to your variable investment options will be allocated into your variable investment options in proportion to the amount of policy value in each variable investment option.

Generally, transfers to the OA subaccounts first occur when the policy value drops by a cumulative amount of 2% to 5% over any period of time, although the mathematical model may make transfers to the OA subaccounts when the policy value drops by less than 3%. The mathematical model will not transfer more than 20% of the policy value to the OA subaccounts. If the policy value continues to fall, no more transfers to the OA subaccounts will occur. However, up to 30% of the policy value could be in the OA subaccounts due to negative performance of the investment options. If negative investment

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performance causes the percentage of the policy value in the OA subaccounts to exceed 30% then the mathematical model will transfer the excess policy value back into your investment options. The policy value allocated to the OA subaccounts will remain there unless your policy value recovers sufficiently to enable us to transfer amounts back to your investment options while maintaining the guarantees under the rider. This generally occurs when the policy value increases by 2.5% to 10% in relation to the guarantees under the rider, although the mathematical model may require a larger increase before transferring amounts back to your investment options.

The Daily Rebalancing Formula Under the Mathematical Model: As noted above, to limit our exposure under the rider, we transfer policy value from your investment options to the OA subaccounts, to the extent called for by a mathematical model that will not change once you purchase the policy. We do this in order to minimize the need to provide payments (for example, when your policy value goes to zero by other than an excess withdrawal), or to extend the time before any payment is required. When payments become more likely (because your policy value is approaching zero), the mathematical model will tend to allocate more policy value to the OA subaccounts. If, on the other hand, the policy value is much higher than the guarantees under the rider, then payments may not be necessary, and therefore, the mathematical model will tend to allocate more policy value to the investment options.

Each business day the mathematical model computes a “target allocation,” which is the portion of the policy value that is to be allocated to the investment options.

The target allocation depends on several factors, including the policy value as compared to the guarantees under the rider, the time until payments are likely required, and interest rates. However, as time passes, these factors change. Therefore, the target allocation changes from one business day to the next.

See “Appendix—OA Method Transfers” in the SAI for more detail regarding the workings of the mathematical model, including the formula used to compute the allocation on a daily basis.

Please Note: The OA Transamerica ProFunds UltraBear VP subaccount invests in the Transamerica ProFunds UltraBear VP portfolio which is designed to seek daily investment results, before fees and expenses that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 Index. Please read the prospectus for the Transamerica ProFunds UltraBear VP portfolio to understand how its investment objective may affect your policy value if OA Method transfers occur to the OA Transamerica ProFunds UltraBear VP subaccount.

You cannot allocate premium payments or transfers to the OA subaccounts.

Please note:

• If you no longer want to be subject to an allocation option, you will be required to terminate the rider. If you terminate the rider you will lose all of its benefits.

• We can change or eliminate a designated allocation group at any time. If this occurs, then a policy owner will be required to reallocate values in the affected designated investment options to other designated investment options that meet the allocation requirements.

Manual Upgrades. You can upgrade the withdrawal base to the policy value during the 30-day period following each successive fifth rider anniversary by sending us written notice in a form acceptable to us, as long as the rider issue requirements for a new rider are met. At this time the rider withdrawal amount and, if applicable, the rider death benefit will be

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recalculated. If an upgrade is elected, your current rider will terminate and a new rider will be issued with a new rider date, its own rider fee percentage (which may be higher or lower than your current rider fee percentage) and its own terms and benefits (which may not be as advantageous as the current rider); and any options you elect to change or add. The new rider date will be the date the Company receives all necessary information in good order. You cannot elect a manual upgrade if the annuitant (or the annuitant’s spouse if younger and the joint option is elected) is 86 or older.

Retirement Income Choice^SM 1.2 – Additional Options

You may elect the following options with this rider (the options are not mutually exclusive):

• Death Benefit;

• Joint Life; and

• Income Enhancement.

There is an additional fee if you elect the Death Benefit and/or the Income Enhancement Benefit option(s) under the rider. If you elect the Joint Life option, then the withdrawal percentage (used to calculate the rider withdrawal amount) is lower. Furthermore, if you elect the Joint Life option in combination with the Death Benefit and/or the Income Enhancement Benefit option(s), then the fee for each of those additional options will be different than under the Single Life option. See “Retirement Income Choice^SM 1.2 Rider and Additional Option Fees”.

1. Death Benefit. If you elect this rider, you can also elect to add an additional amount to the death benefit payable under the base policy, upon the death of the annuitant (or if the joint life option is selected, the annuitant’s spouse). The additional amount will be equal to the excess, if any, of the rider death benefit over the greater of any optional guaranteed minimum death benefit or the base policy death benefit. The additional amount can be zero. See “Section 8. Death Benefit.”

Rider Death Benefit. The rider death benefit on the rider date is the policy value (less any premium enhancement if the rider is added in the first policy year). After the rider date, the rider death benefit is equal to:

• the rider death benefit on the rider date; plus

• subsequent premium payments; less

• adjustments for withdrawals (as described under “Rider Death Benefit Adjustments,” below).

Rider Death Benefit Adjustments. Gross partial withdrawals up to the rider withdrawal amount in a rider year will reduce the rider death benefit on a dollar-for-dollar basis. Gross partial withdrawals in excess of the rider withdrawal amount in a rider year will reduce the rider death benefit by the greater of the dollar amount of the excess withdrawal or a pro rata amount (in proportion to the reduction in policy value), and possibly to zero. See “Appendix -Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders - Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail, including an excess withdrawal that results in pro rata adjustments. Rider death benefit adjustments occur immediately following all withdrawals.

Please note:

• No additional death benefit is payable if the base policy death benefit (including the guaranteed minimum death benefit) exceeds the rider death benefit. The greater the death benefit payable under the guaranteed minimum death benefit selected, the more likely it is that an additional amount will not be payable under the rider death benefit option.

• Excess withdrawals may eliminate the additional death benefit available with this rider. You will

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continue to pay the fee for this option, even if the additional death benefit available under the rider is $0.

• Manual upgrades to the withdrawal base will result in a recalculation of the rider death benefit. However, automatic step-ups will not reset the rider death benefit.

• If an owner who is not the annuitant dies and the surviving spouse continues the policy, then no additional amount is payable. If the policy is not continued, then the surviving owner (who is also the sole beneficiary) may elect to receive lifetime annuity payments equal to the rider withdrawal amount divided by the number of payments each year instead of receiving the policy’s cash value. Please note that under federal tax law, upon the death of an owner, only a “spouse,” as defined under the Federal Defense of Marriage Act is permitted to continue a policy without taking required distributions. (The payment of a death benefit under the policy is triggered by the death of the annuitant.)

The additional death benefit payment option may be referred to as “minimum remaining withdrawal amount” on your policy statement and other documents.

2. Joint Life Benefit. If you elect this rider, then you can also elect to postpone termination of the rider until the later of the annuitant or annuitant’s spouse’s death (only if the annuitant’s spouse continues the policy).

Please note:

• The withdrawal percentage for each “age at the time of first withdrawal” is lower if you elect this option.

• The annuitant’s spouse must be either a joint owner along with the annuitant or the sole primary beneficiary (and there is no joint owner), if you elect this option.

• A former spouse of the annuitant cannot continue to keep the policy in force if no longer married to the annuitant at the time of the annuitant’s death. In that event, the rider will terminate and no additional withdrawals under the rider will be permitted.

• The annuitant’s spouse for purposes of this rider cannot be changed to a new spouse.

• The rider withdrawal percentage is based on the age of the younger of the annuitant and annuitant’s spouse, if you elect this option.

• The rider death benefit is not payable until the death of the surviving spouse, if you elect this option.

• You cannot elect a manual upgrade if the annuitant or annuitant’s spouse is 86 or older (lower if required by state law).

3. Income Enhancement Benefit. If you elect this rider, you can also elect to have your withdrawal percentage double if either the annuitant (or the annuitant’s spouse if the joint life option is elected) is confined, because of a medical necessity, in a hospital or nursing facility and has been so confined for the elimination period (180 days within the last 365 days). Benefits from this option are not available unless the rider has been in effect for 12 months (the “waiting period”). The elimination period and waiting period can, but do not need to, run concurrently.

Please note:

• You cannot elect the Income Enhancement Option if the qualifying person or persons is/are already confined in a hospital or nursing facility.

• The increase to the withdrawal percentage stops when the qualifying person or persons is/are no longer confined as described above.

We will require confirmation of confinement while benefits are being received. Confirmation of confinement may be a physician’s statement, a statement from a hospital or nursing facility administrator, or any other information satisfactory to us which may include information from third

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party or company interviews and/or visits of the facility. If confinement ceases, you may re-qualify by satisfying a 180-day elimination period requirement.

Retirement Income Choice^SM 1.2 Fees

Retirement Income Choice^SM 1.2 Base Rider Fee. The base rider fee is calculated on the rider date and at the beginning of each rider quarter. The base rider fee will be adjusted for any premium additions, excess withdrawals, transfers between designated investment groups, or changes to other allocation options during the rider quarter. It will be deducted automatically from your policy value at the end of each rider quarter.

On an annual basis, in general terms, the base rider fee is the applicable “rider fee percentage” (see the Fee Table) times the withdrawal base.

The Open Allocation option base quarterly fee is calculated by multiplying (A) by (B) by (C), where:

(A) is the withdrawal base;

(B) is the rider fee percentage; and

(C) is the number of remaining days in the rider quarter divided by the total number of days in the applicable rider year.

The Designated Allocation option base quarterly fee is calculated by multiplying (A) by (B) divided by (C) multiplied by (D), where:

(A) is the withdrawal base;

(B) is the sum of each designated investment group’s rider fee percentage multiplied by the applicable designated investment group’s value;

(C) is the total policy value; and

(D) is the number of remaining days in the rider quarter divided by the total number of days in the applicable rider year.

We will assess a prorated rider fee upon termination of the rider for the period beginning on the first day of the most recent rider quarter and ending on the date of termination.

Beginning on the fifth rider anniversary, the rider fee percentage may increase (or decrease) at the time of an automatic step-up. Each time an automatic step-up will result in a rider fee percentage increase, you will have the option to reject the automatic step-up and reinstate the withdrawal base and rider fee percentage to their respective amounts immediately before the automatic step-up (adjusted for any subsequent premium payments or withdrawals), provided that you do so within 30 calendar days after the rider anniversary on which the automatic step-up occurred. We must receive your rejection, in good order, at our Administrative and Service Office within the 30 day period after the rider anniversary on which the automatic step-up occurred.

Please note regarding the base rider fee:

• Because the base rider fee is a percentage of the withdrawal base, it could be a much higher percentage of your policy value, particularly in the event that your policy value decreases significantly.

• Because the base rider fee is a percentage of the withdrawal base, the amount of the base rider fee we deduct will increase if the withdrawal base increases (although the percentage(s) may remain the same).

• If you make a transfer from one designated allocation group to another designated allocation group that has a higher rider fee percentage, then the resulting rider fee will be higher.

Base Rider Fee Adjustment for Transfers. For transfers that you make between different designated investment options in different designated allocation groups or different allocation options on other than the first business day of a rider quarter, a “rider fee adjustment” will be applied. This adjustment is

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necessary because of differences in the rider fee percentages. The adjustment in the rider fee percentage will ensure that you are charged the correct overall rider fee. The base rider fee adjustment will be calculated using the same formula as the base rider fee and compare the fee for the remainder of the rider quarter to the initially calculated fee for the same period. The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated.

Base Rider Fee Adjustment for Premium Payments and Excess Withdrawals. A rider fee adjustment will also be calculated for subsequent premium payments and excess withdrawals because these events will change the withdrawal base. The rider fee adjustment will be calculated using the same formula as the base rider fee and compare the fee for the remainder of the rider quarter to the initially calculated fee for the same period. As with the rider fee adjustments calculated for transfers, the rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be collected.

Additional Option Fees. If you elect options with this rider, then you will be charged a fee for each option you elect that is in addition to the rider fee for the base benefit (see the Fee Table). Each additional fee is charged quarterly before annuitization and is a percentage of the withdrawal base on each rider anniversary.

We will also deduct all rider fees pro rata upon full surrender of the policy or other termination of the rider.

Retirement Income Choice^SM 1.2 Rider Issue Requirements

The Company will not issue the Retirement Income Choice^SM 1.2 rider unless:

• the annuitant is not yet age 86 (lower if required by state law);

• the annuitant is also an owner (except in the case of non-natural owners);

• there are no more than two owners; and

• if the joint life option is elected, the annuitant’s spouse is also not yet 86 (lower if required by state law) and (1) is a joint owner along with the annuitant or (2) is the sole primary beneficiary (and there is no joint owner).

Termination

The Retirement Income Choice^SM 1.2 rider and any additional options will terminate upon the earliest of the following:

• the date we receive written notice from you requesting termination of the rider if such notice is received by us during the 30 days following the fifth rider anniversary or every fifth rider anniversary thereafter;

• the death of the annuitant (or if the joint life option was elected, the death of the annuitant’s spouse if that spouse continued the policy as the surviving spouse);

• annuitization (however, if you have reached your maximum annuity commencement date you may choose an annuitization option which guarantees you lifetime payments in an amount equal to your rider withdrawal amount); or

• termination of your policy.

Please note: This rider terminates upon annuitization and there is a maximum annuity commencement date at which time your policy will be annuitized according to its terms. However, if you have reached your maximum annuity commencement date, we will allow you to annuitize your policy and elect to receive lifetime annuity payments which are at least equal to your rider withdrawal amount. Please contact us for more information concerning your options.

The Retirement Income Choice^SM 1.2 rider and additional options may vary for certain policies, may not be available for all policies, and may not be available in

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all states. This disclosure explains the material features of the Retirement Income Choice^SM 1.2 rider. The application and operation of the rider are governed by the terms and conditions of the rider itself.

Retirement Income Choice^SM 1.4 Rider

You may elect to purchase the optional Retirement Income Choice^SM 1.4 rider which, provides you with: (1) a guaranteed lifetime withdrawal benefit; and (2) an opportunity for increases in the rider withdrawal amount. This rider is available during the accumulation phase, and requires that you allocate 100% of your policy value in certain designated investment choices which are designed to help manage the Company’s risk and support the guarantees under the rider. The tax rules for qualified policies may limit the value of this rider. Please consult a qualified tax advisor before electing the Retirement Income Choice^SM 1.4 rider for a qualified policy.

Retirement Income Choice^SM 1.4 – Base Benefit

Under this benefit, you can receive up to the rider withdrawal amount each rider year (first as withdrawals from your policy value and, if necessary, as payments from us), starting with the rider year immediately following the annuitant’s (or the annuitant’s spouse if younger and the joint life option is elected) 59th birthday and lasting until the annuitant’s death (unless your withdrawal base is reduced to zero because of an “excess withdrawal”; see Withdrawal Base Adjustments and Rider Death Benefit Adjustments, below). A rider year begins on the rider date (the date the rider becomes effective) and thereafter on each anniversary of that date.

Of course, you can always withdraw an amount up to your cash value pursuant to your rights under the policy at your discretion.

See the “Appendix—Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail.

Please note:

• You will begin paying the rider charge as of the date the rider takes effect, even if you do not begin taking withdrawals for many years, or ever. We will not refund the charges you have paid under the rider if you never choose to take withdrawals and/or if you never receive any payments under the rider.

• We have designed this rider to allow for withdrawals from your policy value each rider year that are less than or equal to the rider withdrawal amount. You should not purchase this rider if you plan to take withdrawals in excess of the rider withdrawal amount, because such excess withdrawals may significantly reduce or eliminate the value of the guarantees provided by the rider.

• The longer you wait to start making withdrawals under the benefit, the less time you have to benefit from the guarantee because of decreasing life expectancy as you age. On the other hand, the longer you wait to begin making withdrawals, the higher your withdrawal percentage may be, the higher the withdrawal base due to growth may be, and the more opportunities you will have to lock in a higher withdrawal base. You should carefully consider when to begin making withdrawals. There is a risk that you will not begin making withdrawals at the most financially beneficial time for you.

• Because the guaranteed lifetime withdrawal benefit under this rider is accessed through regular withdrawals that do not exceed the rider withdrawal amount, the rider may not be appropriate for you if you do not foresee a need

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for liquidity and your primary objective is to take maximum advantage of the tax deferral aspect of the policy.

• All policy value must be allocated to a limited number of specified funds. You should consult with your registered representative to assist you in determining whether these certain investment options are suited for your financial needs and risk tolerance.

• Cumulative withdrawals in any rider year that are in excess of the rider withdrawal amount are excess withdrawals.

• An excess withdrawal may impact the withdrawal base, and rider death benefit (if applicable) on a greater than dollar-for-dollar basis.

• Any withdrawal will reduce your rider death benefit (if applicable).

• Upon the death of the annuitant (or the death of the surviving spouse if the joint option is elected), the Retirement Income Choice^SM 1.4 rider terminates and all benefits thereunder cease.

Like all withdrawals, withdrawals while this rider is in effect also:

• reduce your policy value;

• reduce your base policy death benefit and other benefits;

• may be subject to surrender charges and excess interest adjustments;

• may be subject to income taxes and federal tax penalties; and

• may be limited or restricted under certain qualified policies.

Rider Withdrawal Amount. You can withdraw up to the rider withdrawal amount in any rider year (after age 59) from your policy value without causing an excess withdrawal. See “Withdrawal Base Adjustments” and “Rider Death Benefit Adjustments” below.

The rider withdrawal amount is zero if the annuitant is not 59 years old on the rider date and remains zero until the first day of the rider year after the annuitant’s 59th birthday. If the annuitant (or the annuitant’s spouse if younger and the joint life option is elected) is at least 59 years old on the rider date, then the rider withdrawal amount is equal to the withdrawal base multiplied by the withdrawal percentage (see below).

For qualified policies: If the plan participant (generally the annuitant) is at least 70 ¹/2 years old, the rider withdrawal amount for that rider year (and each subsequent rider year) is equal to the greater of:

• the rider withdrawal amount described above; or

• an amount equal to any minimum required distribution amount (for the tax year on that rider anniversary) calculated using only: (1) the living annuitant’s age, (2) the IRS Uniform Lifetime table or, if applicable, the Joint Life and Survivor Expectancy table, (3) the policy value of the base policy, (including the present value of any additional benefits provided under the policy to the extent required to be taken into account under IRS guidance) and (4) amounts from the current calendar year (no carry-over from past years).

Only amounts calculated as set forth above can be used as the rider withdrawal amount. If the minimum required distribution amount (determined as set forth above) exceeds the rider withdrawal amount, the excess will not be treated as an excess withdrawal under the rider.

If your policy value reaches zero, then you cannot make premium payments and all other policy features, benefits, and guarantees (except those provided by this rider) are terminated. In order to receive benefits guaranteed by this rider after your policy value reaches zero, you must select the amount and frequency of future payments. Once selected, the amount and frequency cannot be changed.

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Please note:

• If the rider is added prior to the annuitant’s 59th birthday, the rider withdrawal amount will be zero until the beginning of the rider year after the annuitant’s 59th birthday, however, you will still be charged a rider fee prior to this time.

• You cannot carry over any portion of your rider withdrawal amount that is not withdrawn during a rider year for withdrawal in a future rider year. This means that if you do not take the entire rider withdrawal amount during a rider year, you cannot take more than the rider withdrawal amount in the next rider year and maintain the rider’s guarantees.

• Excess withdrawals may cause you to lose the benefit of the rider.

• All policy value must be allocated to a limited number of specified funds. (See “Designated Investment Options.”)

Withdrawal Percentage. We use the withdrawal percentage to calculate the rider withdrawal amount. The withdrawal percentage is determined by the annuitant’s age (or the annuitant’s spouse if younger and the joint life option is elected) at the time of the first withdrawal taken on or after the rider anniversary immediately following the annuitant’s (or the annuitant’s spouse if younger and the joint life option is elected) 59th birthday. The withdrawal percentage is as follows:

Age at time of first withdrawal	Withdrawal Percentage— Single Life Option		Withdrawal Percentage— Joint Life Option
0-58	0.0	%	0.0	%
59-64	4.0	%	3.5	%
65-74	5.0	%	4.5	%
³75	6.0	%	5.5	%

Please note, once established, the withdrawal percentage will not generally increase even though the annuitant’s age increases except in certain instances involving automatic step-ups.

Withdrawal Base. We use the withdrawal base to calculate the rider withdrawal amount. The withdrawal base on the rider date is the policy value (less any premium enhancement, if the rider is added in the first policy year). During any rider year, the withdrawal base is equal to the withdrawal base on the rider date or most recent rider anniversary, plus subsequent premium payments, less subsequent withdrawal base adjustments due to excess withdrawals.

Please note:

• We determine the withdrawal base solely to calculate the rider withdrawal amount. Your withdrawal base is not a cash value, a surrender value, or a death benefit. It is not available for withdrawal, it is not a minimum return for any subaccount, and it is not a guarantee of policy value.

• Because the withdrawal base is generally equal to the policy value on the rider date, the rider withdrawal amount may be lower if you delay electing the rider and the policy value decreases before you elect the rider.

On each rider anniversary, the withdrawal base will equal the greatest of:

• Current withdrawal base;

• The withdrawal base immediately before the rider anniversary, increased by the growth credit, if any (see “Growth” below);

• The policy value on any monthiversary, including the current rider anniversary (see “Automatic Step-Up” below).

Growth. On each of the first ten rider anniversaries, we will add an annual growth credit to your withdrawal base if no withdrawal occurred during the preceding rider year. The annual growth credit is equal to 5.0% of the withdrawal base immediately before the rider anniversary (i.e., withdrawal base x 0.05).

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Please note: Because a withdrawal will eliminate a potential growth credit for that rider year, you should consider your need or possible need to take withdrawals within the first 10 rider years in deciding whether to purchase the rider.

Automatic Step-Up. On each rider anniversary, we will automatically step-up the withdrawal base to an amount equal to the greater of (1) the highest policy value on any monthiversary during the preceding rider year, if no excess withdrawal occurred, or (2) the policy value on the rider anniversary. This comparison takes place after the application of any applicable annual growth credit. The withdrawal percentage (as indicated in the withdrawal percentage table) will also increase if you have crossed into another age band prior to the automatic step-up.

Beginning on the fifth rider anniversary, the rider fee percentage may increase (or decrease) at the time of any automatic step-up. The rider fee percentage will not exceed the maximum rider fee percentage in the fee table.

Automatic Step-Up Opt Out. Each time an automatic step-up results in a rider fee percentage increase, you have the option to reject the automatic step-up and reinstate the withdrawal base, withdrawal percentage, and rider fee percentage to their respective amounts immediately before the automatic step-up, provided that you do so within 30 days after the rider anniversary on which the automatic step-up occurred. We must receive your rejection (each time you elect to opt out), in good order, at our Administrative and Service Office within the same 30 day period after the rider anniversary on which the automatic step-up occurred. Opting out of one step-up does not operate as an opt-out of any future step-ups.

Withdrawal Base Adjustments. Cumulative gross partial withdrawals up to the rider withdrawal amount in any rider year will not reduce the withdrawal base. Cumulative gross partial withdrawals in excess of the rider withdrawal amount in any rider year (“excess withdrawals”) will reduce the withdrawal base, however, by the greater of the dollar amount of the excess withdrawal (if the policy value is greater than the withdrawal base) or a pro rata amount (in proportion to the reduction in the policy value when the policy value is less than the withdrawal base), possibly to zero. Withdrawal base adjustments occur immediately following excess withdrawals. See “Appendix - Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail, including an excess withdrawal that reduces the withdrawal base by a pro rata amount. The effect of an excess withdrawal is amplified if the policy value is less than the withdrawal base. See the “Appendix - Guaranteed Lifetime Benefit Adjustment Partial Surrenders -Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect hypothetical excess withdrawals in more detail.

Please Note: We do not monitor for, or notify you of, excess withdrawals. If you take regular or scheduled withdrawals please pay particular attention to any excess withdrawal because your otherwise regular or scheduled non-excess withdrawals may thereafter all be excess withdrawals that reduce or eliminate your benefit on an accelerated basis.

Designated Investment Options.

If you elect this rider, you must designate 100% of your policy value into one or more of the designated investment options in the following designated allocation groups:

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Designated Allocation Group A

AllianceBernstein Balanced Wealth Strategy Portfolio – Class B

American Funds – Asset Allocation Fund – Class 2

Fidelity VIP Balanced Portfolio – Service Class 2

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Transamerica Asset Allocation - Moderate Growth VP – Service Class

Transamerica International Moderate Growth VP – Service Class

Transamerica Balanced VP – Service Class

Transamerica Efficient Markets VP – Service Class

Transamerica Index 75 VP – Service Class

GE Investments Total Return Fund – Class 3

Designated Allocation Group B

Transamerica Asset Allocation - Moderate VP – Service Class

Transamerica BlackRock Global Allocation VP – Service Class

Transamerica BlackRock Tactical Allocation VP – Service Class

Transamerica Index 50 VP – Service Class

Designated Allocation Group C

Transamerica Asset Allocation - Conservative VP – Service Class

Transamerica PIMCO Total Return VP – Service Class

Transamerica Money Market VP – Service Class

Transamerica U.S. Government Securities VP – Service Class

Transamerica Foxhall Global Conservative VP – Service Class

Transamerica Index 35 VP – Service Class

American Funds - Bond Fund – Class 2

Fixed Account

Transfers between the designated investment options are allowed as permitted under the policy; however, you cannot transfer any amount (or allocate premium payments) to any non-designated investment option. Within 30 days following the fifth rider anniversary (and each successive fifth rider anniversary), you can terminate this rider. Starting the next business day, you may transfer (or allocate premium payments) to a non-designated investment option. Terminating the rider will result in losing all your benefits under the rider.

Please note:

• The earliest you can transfer (or allocate premium payments) to a non-designated investment option is the first business day after the fifth rider anniversary. You will be required to terminate the rider first (and lose its benefits).

• We can change a designated allocation group or eliminate a designated investment option at any time. If this occurs, then a policy owner will be required to reallocate values in the affected designated investment options to other designated investment options that meet the allocation requirements.

Manual Upgrades. You can upgrade the withdrawal base to the policy value during the 30-day period following each successive fifth rider anniversary by sending us written notice in a form acceptable to us, as long as the rider issue requirements for a new rider are met. At this time the rider withdrawal amount and, if applicable, the rider death benefit will be recalculated. If an upgrade is elected, your current rider will terminate and a new rider will be issued with a new rider date, its own rider fee percentage (which may be higher or lower than your current rider fee percentage) and its own terms and benefits (which may not be as advantageous as the current rider); and any options you elect to change or add. The new rider date will be the date the Company receives all necessary information in good order. You

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cannot elect a manual upgrade if the annuitant (or the annuitant’s spouse if younger and the joint option is elected) is 86 or older.

Retirement Income Choice^SM 1.4 – Additional Options

You may elect the following options with this rider (the options are not mutually exclusive):

• Death Benefit;

• Joint Life; and

• Income Enhancement.

There is an additional fee if you elect the Death Benefit and/or the Income Enhancement Benefit option(s) under the rider. If you elect the Joint Life option, then the withdrawal percentage (used to calculate the rider withdrawal amount) is lower. Furthermore, if you elect the Joint Life option in combination with the Death Benefit and/or the Income Enhancement Benefit option(s), then the fee for each of those additional options will be different than under the Single Life option. See “Retirement Income Choice^SM 1.4 Rider and Additional Option Fees”.

1. Death Benefit. If you elect this rider, you can also elect to add an additional amount to the death benefit payable under the base policy, upon the death of the annuitant (or if the joint life option is selected, the annuitant’s spouse). The additional amount will be equal to the excess, if any, of the rider death benefit over the greater of any optional guaranteed minimum death benefit or the base policy death benefit. The additional amount can be zero. See “Section 8. Death Benefit.”

Rider Death Benefit. The rider death benefit on the rider date is the policy value (less any premium enhancement if the rider is added in the first policy year). After the rider date, the rider death benefit is equal to:

• the rider death benefit on the rider date; plus

• subsequent premium payments; less

• adjustments for withdrawals (as described under “Rider Death Benefit Adjustments,” below).

Rider Death Benefit Adjustments. Gross partial withdrawals up to the rider withdrawal amount in a rider year will reduce the rider death benefit on a dollar-for-dollar basis. Gross partial withdrawals in excess of the rider withdrawal amount in a rider year will reduce the rider death benefit by the greater of the dollar amount of the excess withdrawal or a pro rata amount (in proportion to the reduction in policy value), and possibly to zero. See “Appendix -Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders - Retirement Income Choice^SM 1.2 Rider and Retirement Income Choice^SM 1.4 Rider” for examples showing the effect of hypothetical withdrawals in more detail, including an excess withdrawal that results in pro rata adjustments. Rider death benefit adjustments occur immediately following all withdrawals.

Please note:

• No additional death benefit is payable if the base policy death benefit (including the guaranteed minimum death benefit) exceeds the rider death benefit. The greater the death benefit payable under the guaranteed minimum death benefit selected, the more likely it is that an additional amount will not be payable under the rider death benefit option.

• Excess withdrawals may eliminate the additional death benefit available with this rider. You will continue to pay the fee for this option, even if the additional death benefit available under the rider is $0.

• Manual upgrades to the withdrawal base will result in a recalculation of the rider death benefit. However, automatic step-ups will not reset the rider death benefit.

• If an owner who is not the annuitant dies and the surviving spouse continues the policy, then no additional amount is payable. If the policy is not continued, then the surviving owner (who is also the sole beneficiary) may elect to receive

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lifetime annuity payments equal to the rider withdrawal amount divided by the number of payments each year instead of receiving the policy’s cash value. Please note that under federal tax law, upon the death of an owner, only a “spouse” as defined under the Federal Defense of Marriage Act is permitted to continue a policy without taking required distributions. (The payment of a death benefit under the policy is triggered by the death of the annuitant.)

The additional death benefit payment option may be referred to as “minimum remaining withdrawal amount” on your policy statement and other documents.

2. Joint Life Benefit. If you elect this rider, then you can also elect to postpone termination of the rider until the later of the annuitant or annuitant’s spouse’s death (only if the annuitant’s spouse continues the policy).

Please note:

• The withdrawal percentage for each “age at the time of first withdrawal” is lower if you elect this option.

• The annuitant’s spouse must be either a joint owner along with the annuitant or the sole primary beneficiary (and there is no joint owner), if you elect this option.

• A former spouse of the annuitant cannot continue to keep the policy in force if no longer married to the annuitant at the time of the annuitant’s death. In that event, the rider will terminate and no additional withdrawals under the rider will be permitted.

• The annuitant’s spouse for purposes of this rider cannot be changed to a new spouse.

• The rider withdrawal percentage is based on the age of the younger of the annuitant and annuitant’s spouse, if you elect this option.

• The rider death benefit is not payable until the death of the surviving spouse, if you elect this option.

• You cannot elect a manual upgrade if the annuitant or annuitant’s spouse is 86 or older (lower if required by state law).

3. Income Enhancement Benefit. If you elect this rider, you can also elect to have your withdrawal percentage double if either the annuitant (or the annuitant’s spouse if the joint life option is elected) is confined, because of a medical necessity, in a hospital or nursing facility and has been so confined for the elimination period (180 days within the last 365 days). Benefits from this option are not available unless the rider has been in effect for 12 months (the “waiting period”). The elimination period and waiting period can, but do not need to, run concurrently.

Please note:

• You cannot elect the Income Enhancement Option if the qualifying person or persons is/are already confined in a hospital or nursing facility.

• The increase to the withdrawal percentage stops when the qualifying person or persons is/are no longer confined as described above.

We will require confirmation of confinement while benefits are being received. Confirmation of confinement may be a physician’s statement, a statement from a hospital or nursing facility administrator, or any other information satisfactory to us which may include information from third party or company interviews and/or visits of the facility. If confinement ceases, you may re-qualify by satisfying a 180-day elimination period requirement.

Retirement Income Choice^SM 1.4 Fees

Retirement Income Choice^SM 1.4 Base Rider Fee. The base rider fee is calculated on the rider date and at the beginning of each rider quarter. The base rider fee will be adjusted for any premium additions, excess withdrawals, or transfers between designated

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investment groups during the rider quarter. It will be deducted automatically from your policy value at the end of each rider quarter.

On an annual basis, in general terms, the base rider fee is the applicable “rider fee percentage” (see the Fee Table) times the withdrawal base.

The base quarterly fee is calculated by multiplying (A) by (B) divided by (C) multiplied by (D), where:

(A) is the withdrawal base;

(B) is the sum of each designated investment group’s rider fee percentage multiplied by the applicable designated investment group’s value;

(C) is the total policy value; and

(D) is the number of remaining days in the rider quarter divided by the total number of days in the applicable rider year.

We will assess a prorated rider fee upon termination of the rider for the period beginning on the first day of the most recent rider quarter and ending on the date of termination.

Beginning on the fifth rider anniversary, the rider fee percentage may increase (or decrease) at the time of an automatic step-up. Each time an automatic step-up will result in a rider fee percentage increase, you will have the option to reject the automatic step-up and reinstate the withdrawal base and rider fee percentage to their respective amounts immediately before the automatic step-up (adjusted for any subsequent premium payments or withdrawals), provided that you do so within 30 calendar days after the rider anniversary on which the automatic step-up occurred. We must receive your rejection, in good order, at our Administrative and Service Office within the 30 day period after the rider anniversary on which the automatic step-up occurred.

Please note regarding the base rider fee:

• Because the base rider fee is a percentage of the withdrawal base, it could be a much higher percentage of your policy value, particularly in the event that your policy value decreases significantly.

• Because the base rider fee is a percentage of the withdrawal base, the amount of the base rider fee we deduct will increase if the withdrawal base increases (although the percentage(s) may remain the same).

• If you make a transfer from one designated allocation group to another designated allocation group that has a higher rider fee percentage, then the resulting rider fee will be higher.

Base Rider Fee Adjustment for Transfers. For transfers that you make between different designated investment options in different designated allocation groups on other than the first business day of a rider quarter, a “rider fee adjustment” will be applied. This adjustment is necessary because of differences in the rider fee percentages. The adjustment in the rider fee percentage will ensure that you are charged the correct overall rider fee. The base rider fee adjustment will be calculated using the same formula as the base rider fee and compare the fee for the remainder of the rider quarter to the initially calculated fee for the same period. The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be allocated.

Base Rider Fee Adjustment for Premium Payments and Excess Withdrawals. A rider fee adjustment will also be calculated for subsequent premium payments and excess withdrawals because these events will change the withdrawal base. The rider fee adjustment will be calculated using the same formula as the base rider fee and compare the fee for the remainder of the rider quarter to the initially calculated fee for the same period. As with the rider fee adjustments calculated for transfers, the rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be collected.

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Additional Option Fees. If you elect options with this rider, then you will be charged a fee for each option you elect that is in addition to the rider fee for the base benefit (see the Fee Table). Each additional fee is charged quarterly before annuitization and is a percentage of the withdrawal base on each rider anniversary.

We will also deduct all rider fees pro rata upon full surrender of the policy or other termination of the rider.

Retirement Income Choice^SM 1.4 Rider Issue Requirements

The Company will not issue the Retirement Income Choice^SM 1.4 rider unless:

• the annuitant is not yet age 86 (lower if required by state law);

• the annuitant is also an owner (except in the case of non-natural owners);

• there are no more than two owners; and

• if the joint life option is elected, the annuitant’s spouse is also not yet 86 (lower if required by state law) and (1) is a joint owner along with the annuitant or (2) is the sole primary beneficiary (and there is no joint owner).

Termination

The Retirement Income Choice^SM 1.4 rider and any additional options will terminate upon the earliest of the following:

• the date we receive written notice from you requesting termination of the rider if such notice is received by us during the 30 days following the fifth rider anniversary or every fifth rider anniversary thereafter;

• the death of the annuitant (or if the joint life option was elected, the death of the annuitant’s spouse if that spouse continued the policy as the surviving spouse);

• annuitization (however, if you have reached your maximum annuity commencement date you may choose an annuitization option which guarantees you lifetime payments in an amount equal to your rider withdrawal amount); or

• termination of your policy.

Please note: This rider terminates upon annuitization and there is a maximum annuity commencement date at which time your policy will be annuitized according to its terms. However, if you have reached your maximum annuity commencement date, we will allow you to annuitize your policy and elect to receive lifetime annuity payments which are at least equal to your rider withdrawal amount. Please contact us for more information concerning your options.

The Retirement Income Choice^SM 1.4 rider and additional options may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure explains the material features of the Retirement Income Choice^SM 1.4 rider. The application and operation of the rider are governed by the terms and conditions of the rider itself.

Income Link^SM Rider

You may elect to purchase the optional Income Link^SM rider which, provides you with: (1) a guaranteed lifetime withdrawal benefit that uses a higher withdrawal percentage for a defined period of time and then resets to a lower percentage (see the “Withdrawal Options and Percentages” section); and (2) an opportunity for increases in the rider withdrawal amount. This rider is available during the accumulation phase, and requires that you allocate 100% of your policy value in certain designated investment choices which are designed to help manage the Company’s risk and support the guarantees under the rider. The tax rules for qualified policies may limit the value of this rider. Please consult a qualified tax advisor before electing the Income Link^SM rider for a qualified policy. The date this rider is added to your policy is the “rider date.”

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You choose the date of the first Income Link^SM rider systematic withdrawal, which is the Income Link^SM rider start date.

Income Link^SM Rider– Base Benefit

Under this benefit, you can receive up to the rider withdrawal amount each Income Link^SM rider withdrawal year (first as systematic withdrawals from your policy value and, if necessary, as systematic payments from us), beginning on the Income Link^SM rider start date and lasting until the annuitant’s death (unless your withdrawal base is reduced to zero because of a non-Income Link^SM rider systematic withdrawal; see Withdrawal Base Adjustments below). The first Income Link^SM rider withdrawal year begins on the Income Link^SM rider start date and each successive Income Link^SM rider withdrawal year begins thereafter on each anniversary of that date.

Income Link^SM Rider – Systematic Withdrawals. In order to begin receiving Income Link^SM rider systematic withdrawals, you must elect the withdrawal option and frequency (monthly, quarterly, semi-annually or annually) through which you will receive the Income Link^SM rider systematic withdrawals (for qualified policies you will also have to elect whether or not to receive your minimum required distribution amount as calculated herein). Any change to the frequency of your Income Link^SM rider systematic withdrawals will take effect at the beginning of the next Income Link^SM rider withdrawal year. Any other withdrawal, regardless of amount or timing, is a non-Income Link^SM rider systematic withdrawal. See “Withdrawal Base Adjustments”.

Of course, you can always withdraw any amount up to your cash value pursuant to your rights under the policy at your discretion however, withdrawals other than Income Link^SM rider systematic withdrawals (and certain minimum required distributions) will reduce the withdrawal base. See the “Appendix—Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders—Income Link^SM Rider” for an example showing the effect of a hypothetical withdrawal in more detail.

Please note:

• You will begin paying the rider charge as of the date the rider takes effect, even if you do not begin taking withdrawals for many years, or ever. We will not refund the charges you have paid under the rider if you never choose to take withdrawals and/or if you never receive any payments under the rider.

• We have designed this rider to allow for Income Link^SM rider systematic withdrawals from your policy value each Income Link^SM rider withdrawal year that are less than or equal to the rider withdrawal amount. You should not purchase this rider if you plan to take withdrawals in excess of the rider withdrawal amount or on a non-systematic basis, because such withdrawals may significantly reduce or eliminate the value of the guarantees provided by the rider.

• Depending on which withdrawal option you elect, your withdrawal percentage will decrease after second, third, fourth, fifth, sixth or seventh withdrawal year.

• The longer you wait to start taking Income Link^SM rider systematic withdrawals under the rider, the less time you have to benefit from the guarantee because of decreasing life expectancy as you age. You should carefully consider when to begin making withdrawals. There is a risk that you will not begin making withdrawals at the most financially beneficial time for you.

• Because the guaranteed lifetime withdrawal benefit under this rider is accessed through regular Income Link^SM rider systematic withdrawals that do not exceed the rider withdrawal amount, the rider may not be appropriate for you if you do not foresee a need

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for liquidity and your primary objective is to take maximum advantage of the tax deferral aspect of the policy.

• All policy value must be allocated to a limited number of specified funds. You should consult with your registered representative to assist you in determining whether these certain investment options are suited for your financial needs and risk tolerance.

• Any withdrawal that is not an Income Link^SM rider systematic withdrawal (or certain minimum required distributions) will decrease the withdrawal base; the impact may be on a greater than dollar-for-dollar basis.

• Upon the death of the annuitant (or the death of the surviving spouse if the joint option is elected), the Income Link^SM rider terminates and all benefits thereunder cease.

• The only way to receive withdrawals (either Income Link^SM rider systematic withdrawals or minimum required distributions) without causing an adjustment to the withdrawal base is to use the Income Link^SM rider systematic withdrawal programs.

Like all withdrawals, Income Link^SM rider systematic withdrawals while this rider is in effect also:

• reduce your policy value;

• reduce the amount you can withdraw “adjustment free” as a minimum required distribution;

• reduce your base policy death benefit and other benefits;

• may be subject to surrender charges and excess interest adjustments;

• may be subject to income taxes and federal tax penalties; and

• may be limited or restricted under certain qualified policies.

Rider Withdrawal Amount. You can withdraw up to the rider withdrawal amount each Income Link^SM rider withdrawal year from your policy value without causing an adjustment. See “Withdrawal Base Adjustments” below. You must use a systematic withdrawal program to withdraw your rider withdrawal amount. Such withdrawals are Income Link^SM rider systematic withdrawals. Any withdrawal other than an Income Link^SM rider systematic withdrawal is considered a non-Income Link^SM rider systematic withdrawal and will result in a withdrawal base adjustment (except for certain minimum required distributions, see “Minimum Required Distribution”).

The annual rider withdrawal amount is zero until Income Link^SM rider start date. On the Income Link^SM rider start date and at the beginning of each Income Link^SM rider withdrawal year thereafter, the annual rider withdrawal amount is equal to the applicable withdrawal percentage (based on the withdrawal option you elect) multiplied by the withdrawal base. During any Income Link^SM rider withdrawal year, the rider withdrawal amount and Income Link^SM rider systematic withdrawal amount may be adjusted up or down as described in the Withdrawal Base Adjustment section.

Minimum Required Distribution: Prior to the Income Link^SM rider start date, the systematic withdrawal of the minimum required distribution amount (determined as set forth below) will not cause an adjustment. After the Income Link^SM rider start date, the withdrawal of the minimum required distribution amount (determined as set forth below) will not cause an adjustment to the withdrawal base; however, it must be withdrawn pursuant to an Income Link^SM rider systematic withdrawal program whereby you will receive your Income Link^SM rider systematic withdrawals and any remaining minimum required distribution amount as calculated herein distributed at the end of the applicable calendar year (not at the end of the applicable rider year).

If the plan participant (generally the annuitant) is at least 70 ¹/2 years old, you can withdraw via a systematic withdrawal option, an amount equal to any minimum required distribution amount (for the

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tax year on that rider anniversary) calculated using only: (1) the living annuitant’s age, (2) the IRS Uniform Lifetime table or, if applicable, the Joint Life and Survivor Expectancy table, (3) the policy value of the base policy, (including the present value of any additional benefits provided under the policy to the extent required to be taken into account under IRS guidance) and (4) amounts from the current calendar year (no carry-over from past years). Minimum required distribution amounts calculated as set forth above and taken via a systematic withdrawal option will not cause an adjustment under this provision of the rider. Any withdrawal during a calendar year will reduce the withdrawal base adjustment free minimum required distribution amount for that year.

Please note: If you want to change the mode of the systematic withdrawal through which you are receiving your “adjustment free” minimum required distribution, your change will not take effect until the next anniversary of your systematic withdrawal program. Likewise, if you stop a systematic withdrawal program you cannot restart a new systematic program until the date that would have been the anniversary of the systematic withdrawal program you stopped. (For example, if you started a monthly systematic withdrawal program to receive your “adjustment free” minimum required distribution amount on August 19, 2010, and stopped it on December 21, 2010, you could not restart a new systematic withdrawal program until August 19, 2011.)

If your policy value reaches zero, then you cannot make premium payments and all other policy features, benefits, and guarantees (except those provided by this rider) are terminated. In order to receive benefits guaranteed by this rider after your policy value reaches zero, you must select the amount and frequency of future payments. Once selected, the amount and frequency cannot be changed.

Please note:

• The rider withdrawal amount will be zero until the Income Link^SM rider start date, however, you will still be charged a rider fee prior to this time.

• You cannot carry over any portion of your rider withdrawal amount that is not withdrawn during an Income Link^SM rider withdrawal year for withdrawal in a future Income Link^SM rider withdrawal year. This means that if you do not take the entire rider withdrawal amount during an Income Link^SM rider withdrawal year, you cannot take more than the rider withdrawal amount in the next Income Link^SM rider withdrawal year and maintain the rider’s guarantees.

• Non-Income Link^SM rider systematic withdrawals may cause you to lose the benefit of the rider.

• All policy value must be allocated to a limited number of specified funds. (See “Designated Investment Options.”)

Withdrawal Options and Percentages. We use the withdrawal percentage to calculate the rider withdrawal amount. The withdrawal percentage is determined by the withdrawal option you select. The withdrawal percentages, categorized by withdrawal option, are as follows:

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Withdrawal Option— number years at increased rate	Withdrawal Percentage— Single Life Option	Withdrawal Percentage— Joint Life Option
7 years	5% for 7 years and 4% thereafter	4.5% for 7 years and 3.5% thereafter
6 years	6% for 6 years and 4% thereafter	5.5% for 6 years and 3.5% thereafter
5 years	7% for 5 years and 4% thereafter	6.5% for 5 years and 3.5% thereafter
4 years	8% for 4 years and 4% thereafter	7.5% for 4 years and 3.5% thereafter
3 years	9% for 3 years and 4% thereafter	8.5% for 3 years and 3.5% thereafter
2 years	10% for 2 years and 4% thereafter	9.5% for 2 years and 3.5% thereafter

Please note, once established, the withdrawal percentage will not increase.

Withdrawal Base. We use the withdrawal base to calculate the rider withdrawal amount. The withdrawal base on the rider date is the policy value (less any premium enhancement, if the rider is added in the first policy year). During any rider year, the withdrawal base is equal to the withdrawal base on the rider date or most recent rider anniversary, plus subsequent premium payments, less subsequent withdrawal base adjustments due to non-Income Link^SM rider systematic withdrawals.

Please note:

• We determine the withdrawal base solely to calculate the rider withdrawal amount. Your withdrawal base is not a cash value, a surrender value, or a death benefit. It is not available for withdrawal, it is not a minimum return for any subaccount, and it is not a guarantee of policy value.

• Because the withdrawal base is generally equal to the policy value on the rider date, the rider withdrawal amount may be lower if you delay electing the rider and the policy value decreases before you elect the rider.

On each rider anniversary, the withdrawal base will equal the greatest of:

• current withdrawal base;

• the policy value on any monthiversary, including the current rider anniversary (see “Automatic Step-Up” below).

Automatic Step-Up. On each rider anniversary, we will automatically step-up the withdrawal base to an amount equal to the greater of (1) the highest policy value on any monthiversary during the preceding rider year, if no non-Income Link^SM rider systematic withdrawal occurred, or (2) the policy value on the rider anniversary.

The rider fee percentage may increase (or decrease) at the time of any automatic step-up. The rider fee percentage will not exceed the maximum rider fee percentage in the fee table.

Please note:

• The withdrawal base “steps-up” on rider anniversaries whereas a Income Link^SM rider withdrawal year begins on the Income Link ^SM rider start date.

• If an automatic step-up occurs, your remaining rider withdrawal amount and Income Link^SM rider systematic withdrawal amount is proportionally increased for the remainder of that Income Link^SM rider withdrawal year.

Automatic Step-Up Opt Out. Each time an automatic step-up results in a rider fee percentage increase, you have the option to reject the automatic step-up and reinstate the withdrawal base and rider fee percentage to their respective amounts immediately before the automatic step-up, provided that you do so within 30 days after the rider

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anniversary on which the automatic step-up occurred. We must receive your rejection (each time you elect to opt out), in good order, at our Administrative and Service Office within the same 30 day period after the rider anniversary on which the automatic step-up occurred. Opting out of one step-up does not operate as an opt-out of any future step-ups.

Withdrawal Base Adjustments. Premium additions will increase the withdrawal base on a dollar-for-dollar basis. See “Automatic Step-Up” for a description of how automatic step-ups increase the withdrawal base.

Income Link^SM rider systematic withdrawals up to the rider withdrawal amount will not reduce the withdrawal base. Non-Income Link^SM rider systematic withdrawals will reduce the withdrawal base, however, by the greater of the dollar amount of the withdrawal (if the policy value is greater than the withdrawal base) or a pro rata amount (in proportion to the reduction in the policy value when the policy value is less than the withdrawal base), possibly to zero. See “Appendix - Guaranteed Lifetime Withdrawal Benefit Adjusted Partial Surrenders -Income Link ^SM Rider” for examples showing the effect of hypothetical withdrawals in more detail. The effect of a negative adjustment is amplified if the policy value is less than the withdrawal base. See the “Appendix - Guaranteed Lifetime Benefit Adjustment Partial Surrenders - Income Link^SM Rider” for examples showing the effect hypothetical excess withdrawals in more detail, including an excess withdrawal that reduces the withdrawal base by a pro rata amount. Withdrawal base adjustments occur immediately following premium additions or non-Income Link^SM rider withdrawals. If you take a non-Income Link ^SM rider systematic withdrawal that reduces your policy value (and withdrawal base) to zero, then the Income Link^SM rider will terminate and you will lose all its benefits.

Please Note: We do not monitor for non-Income Link^SM rider systematic withdrawals or notify you of withdrawal base adjustments. If you take a non-Income Link^SM rider systematic withdrawal please note your Income Link^SM rider systematic withdrawal amount will be reduced.

Designated Investment Options. If you elect this rider, you must designate 100% of your policy value into one or more of the designated investment options:

Transamerica Asset Allocation – Conservative VP –Service Class

Transamerica PIMCO Total Return VP – Service Class

Transamerica Money Market VP – Service Class

Transamerica U.S. Government Securities VP –Service Class

Transamerica Foxhall Global Conservative VP – Service Class

Transamerica Index 35 VP – Service Class

American Funds - Bond Fund – Class 2

Fixed Account

Transfers between the designated investment options are allowed as permitted under the policy; however, you cannot transfer any amount (or allocate premium payments) to any non-designated investment option. Following the fifth rider anniversary you can terminate this rider. Starting the next business day, you may transfer (or allocate premium payments) to a non-designated investment option. Terminating the rider will result in losing all your benefits under the rider.

Please note:

• The earliest you can transfer (or allocate premium payments) to a non-designated investment option is the first business day after the fifth rider anniversary. You will be required to terminate the rider first (and lose its benefits).

• We can eliminate a designated investment option at any time. If this occurs, then a policy

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owner will be required to reallocate values in the affected designated investment options to other designated investment options that meet the allocation requirements.

Manual Upgrades. You can upgrade the withdrawal base to the policy value during the 30-day period following the fifth rider anniversary by sending us written notice in a form acceptable to us, as long as the rider issue requirements for a new rider are met. At this time the rider withdrawal amount will be recalculated. If an upgrade is elected, your current rider will terminate and a new rider will be issued with a new rider date, its own rider fee percentage (which may be higher or lower than your current rider fee percentage) and its own terms and benefits (which may not be as advantageous as the current rider). The new rider date will be the date the Company receives all necessary information in good order. You cannot elect a manual upgrade if the annuitant (or the annuitant’s spouse if younger and the joint option is elected) is 81 or older.

Income Link^SM Rider– Joint Life Option

If you elect this rider, then you can also elect to postpone termination of the rider until the later of the annuitant or annuitant’s spouse’s death (only if the annuitant’s spouse continues the policy).

If you elect the Joint Life option, then the withdrawal percentage (used to calculate the rider withdrawal amount) is lower.

Please note:

• The withdrawal percentage for each withdrawal option is lower if you elect this option.

• The annuitant’s spouse must be either a joint owner along with the annuitant or the sole primary beneficiary (and there is no joint owner), if you elect this option.

• A former spouse of the annuitant cannot continue to keep the policy in force if no longer married to the annuitant at the time of the annuitant’s death. In that event, the rider will terminate and no additional withdrawals under the rider will be permitted.

• The annuitant’s spouse for purposes of this rider cannot be changed to a new spouse.

• You cannot elect a manual upgrade if the annuitant or annuitant’s spouse is 81 or older (lower if required by state law).

Income Link^SM Rider Fees

Income Link^SM Rider Fee. The rider fee is calculated on the rider date and at the beginning of each rider quarter. The rider fee will be adjusted for any premium additions and non-Income Link^SM rider systematic withdrawals during the rider quarter. It will be deducted automatically from your policy value at the end of each rider quarter.

On an annual basis, in general terms, the rider fee is the applicable “rider fee percentage” (see the Fee Table) times the withdrawal base.

The quarterly fee is calculated by multiplying (A) by (B) by (C), where:

(A) is the withdrawal base;

(B) rider fee percentage; and

(C) is the number of remaining days in the rider quarter divided by the total number of days in the applicable rider year.

We will assess a prorated rider fee upon termination of the rider for the period beginning on the first day of the most recent rider quarter and ending on the date of termination.

Beginning on the first rider anniversary, the rider fee percentage may increase (or decrease) at the time of an automatic step-up. Each time an automatic step-up will result in a rider fee percentage increase, you will have the option to reject the automatic step-up and reinstate the withdrawal base and rider fee percentage to their respective amounts

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immediately before the automatic step-up (adjusted for any subsequent premium payments or withdrawals), provided that you do so within 30 calendar days after the rider anniversary on which the automatic step-up occurred. We must receive your rejection, in good order, at our Administrative and Service Office within the 30 day period after the rider anniversary on which the automatic step-up occurred.

Please note regarding the rider fee:

• Because the rider fee is a percentage of the withdrawal base, it could be a much higher percentage of your policy value, particularly in the event that your policy value decreases significantly.

• Because the rider fee is a percentage of the withdrawal base, the amount of the rider fee we deduct will increase if the withdrawal base increases (although the percentage will remain the same).

Rider Fee Adjustment for Premium Payments and Excess Withdrawals. A rider fee adjustment will also be calculated for subsequent premium payments and non-Income Link^SM rider systematic withdrawals because these events will change the withdrawal base. The rider fee adjustment will be calculated using the same formula as the rider fee and compare the fee for the remainder of the rider quarter to the initially calculated fee for the same period. The rider fee adjustment may be positive or negative and will be added to or subtracted from the rider fee to be collected.

We will also deduct the rider fee pro rata upon full surrender of the policy or other termination of the rider.

Income Link^SM Rider Issue Requirements

The Company will not issue the Income Link^SM rider unless:

• the annuitant is younger than age 81 (lower if required by state law);

• the annuitant is also an owner (except in the case of non-natural owners);

• there are no more than two owners; and

• if the joint life option is elected, the annuitant’s spouse is also not yet 81 (lower if required by state law) and (1) is a joint owner along with the annuitant or (2) is the sole primary beneficiary (and there is no joint owner).

Termination

The Income Link^SM rider will terminate upon the earliest of the following:

• the date we receive written notice from you requesting termination of the rider if such notice is received by us following the fifth rider anniversary;

• the death of the annuitant (or if the joint life option was elected, the death of the annuitant’s spouse if that spouse continued the policy as the surviving spouse);

• annuitization (however, if you have reached your maximum annuity commencement date you may choose an annuitization option which guarantees you lifetime payments in an amount equal to your rider withdrawal amount); or

• termination of your policy.

Please note: This rider terminates upon annuitization and there is a maximum annuity commencement date at which time your policy will be annuitized according to its terms. However, if you have reached your maximum annuity commencement date, we will allow you to annuitize your policy and elect to receive lifetime annuity payments which are at least equal to your rider withdrawal amount. Please contact us for more information concerning your options.

The Income Link^SM rider may vary for certain policies, may not be available for all policies, and may not be available in all states. This disclosure explains the

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material features of the Income Link^SM rider. The application and operation of the rider are governed by the terms and conditions of the rider itself.

11. OTHER INFORMATION

Ownership

You, as owner of the policy, exercise all rights under the policy. You can change the owner at any time by notifying us in writing at our Administrative and Service Office. An ownership change may be a taxable event.

Beneficiary

The beneficiary designation will remain in effect until changed. The owner may change the designated beneficiary by sending written notice to the Company. The beneficiary’s consent to such change is not required unless the beneficiary was irrevocably designated or law requires consent. (If an irrevocable beneficiary dies, the owner may then designate a new beneficiary.) The change will take effect as of the date the owner signs the written notice, whether or not the owner is living when the notice is received by the Company. The Company will not be liable for any payment made before the written notice is received. If more than one beneficiary is designated, and the owner fails to specifiy their interests, they will share equally. If, upon the death of the annuitant, there is a surviving owner(s), then the surviving owner(s) automatically takes the place of any beneficiary designation.

Right to Cancel Period

You may return your policy for a refund, but only if you return it within a prescribed period, which is generally 10 days (after you receive the policy), or whatever longer time may be required by state law. The amount of the refund will generally be the premiums paid plus or minus accumulated gains or losses in the separate account. You bear the risk of any decline in policy value during the right to cancel period. However, if state law requires, we will refund your original premium payment(s). We will pay the refund within seven days after we receive in good order within the applicable period at our Administrative and Service Office, written notice of cancellation and the returned policy. The policy will then be deemed void.

Assignment

You can also generally assign the policy any time during your lifetime. We will not be bound by the assignment until we receive written notice of the assignment in good order at our Administrative and Service Office and approve it. We reserve the right, except to the extent prohibited by applicable laws, regulations, or actions of the State insurance commissioner, to require that an assignment will be effective only upon acceptance by us, and to refuse assignments or transfers at any time on a non-discriminatory basis. We will not be liable for any payment or other action we take in accordance with the policy before we approve the assignment. There may be limitations on your ability to assign a qualified policy. An assignment may have tax consequences.

Sending Forms and Transaction Requests in Good Order

We cannot process your requests for transactions relating to the policy until we have received them in good order at our Administrative and Service Office. “good order” means the actual receipt by us of the instructions relating to the requested transaction in writing (or, when appropriate, by telephone or electronically, along with all forms, information and supporting legal documentation necessary to effect the transaction. This information and documentation generally includes, to the extend applicable to the transaction: your completed application; the policy number; the transaction amount (in dollars or percentage terms); the names and allocations to

92

and/or from the Subaccounts affected by the requested transaction; the signatures of all policy owners (exactly as registered on the Policy) if necessary; Social Security Number or Taxpayer I.D.; and any other information or supporting documentation that we may require, including any spousal or joint owner’s consents. With respect to purchase requests, “good order” also generally includes receipt (by us) of sufficient funds to effect the purchase. We may, in our sole discretion, determine whether any particular transaction request is in good order, and we reserve the right to change or waive any good order requirements at any time.

Mixed and Shared Funding

Before making a decision concerning the allocation of premium payments to a particular subaccount, please read the prospectuses for the underlying fund portfolios. The underlying fund portfolios are not limited to selling their shares to this separate account and can accept investments from any insurance company separate account or qualified retirement plan. Since the underlying fund portfolios are available to registered separate accounts offering variable annuity products of the Company, as well as variable annuity and variable life products of other insurance companies, and qualified retirement plans, there is a possibility that a material conflict may arise between the interests of this separate account and one or more of the other separate accounts of another participating insurance company. In the event of a material conflict, the affected insurance companies, including the Company, agree to take any necessary steps to resolve the matter. This may include removing their separate accounts from the underlying fund portfolios. See the underlying fund portfolios prospectuses for more details.

Exchanges and Reinstatements

You can generally exchange one annuity policy for another in a “tax-free exchange” under Section 1035 of the Internal Revenue Code. Before making an exchange, you should compare both annuities carefully. Remember that if you exchange another annuity for the one described in this prospectus, then you may pay a surrender charge on the other annuity and other charges may be higher (or lower) and the benefits under this annuity may be different. You should not exchange another annuity for this one unless you determine, after knowing all the facts, that the exchange is in your best interest and not just better for the person trying to sell you this policy (that person will generally earn a commission if you buy this policy through an exchange or otherwise).

You may surrender your policy and transfer your money directly to another life insurance company (sometimes referred to as a 1035 Exchange or a trustee-to-trustee transfer). You may also ask us to reinstate your policy after such a transfer and in certain limited circumstances we will allow you to do so by returning the same total dollar amount of funds to the applicable investment choices. The dollar amount will be used to purchase new accumulation units at the then current price. Because of changes in market value, your new accumulation units may be worth more or less than the units you previously owned. We recommend that you consult a tax professional to explain the possible tax consequences of exchanges and/or reinstatements.

Voting Rights

To the extent required by law, the Company will vote all shares of the underlying fund portfolios held in the separate account in accordance with instructions we receive from you and other owners that have voting interests in the portfolios. We will send you and other owners requests for instructions on how to vote those shares. When we receive those instructions, we will vote all of the shares in proportion to those instructions. Accordingly, it is possible for a small number of policy owners (assuming there is a quorum) to determine the outcome of a vote, especially if they have large policy

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values. If, however, we determine that we are permitted to vote the shares in our own right, we may do so.

Each person having a voting interest will receive proxy material, reports, and other materials relating to the appropriate portfolio.

IMSA

We are a member of the Insurance Marketplace Standards Association (IMSA). IMSA is an independent, voluntary organization of life insurance companies. It promotes high ethical standards in the sales and advertising of individual life insurance, long-term care insurance, and annuity products. Through its Principles and Code of Ethical Market Conduct, IMSA encourages its member companies to develop and implement policies and procedures to promote sound market practices. Companies must undergo a rigorous self and independent assessment of their practices to become a member of IMSA. The IMSA logo in our sales literature shows our ongoing commitment to these standards. You may find more information about IMSA and its ethical standards at www.imsaethics.org in the “Consumer” section or by contacting IMSA at: 240-744-3030.

Legal Proceedings

There are no legal proceedings to which the separate account is a party or to which the assets of the separate account are subject. The Company, like other life insurance companies, is involved in lawsuits. In some class action and other lawsuits involving other insurers, substantial damages have been sought and/or material settlement payments have been made. Although the outcome of any litigation cannot be predicted with certainty, the Company believes that at the present time there are no pending or threatened lawsuits that are reasonably likely to have a material adverse impact on the separate account, on the ability of Transamerica Capital, Inc., to perform under its principal underwriting agreement, or on the ability of the Company to meet its obligations under the policy.

Transamerica Life Insurance Company

Transamerica Life Insurance Company was incorporated under the laws of the State of Iowa on April 19, 1961 as NN Investors Life Insurance Company, Inc. It is engaged in the sale of life and health insurance and annuity policies. The Company is a wholly-owned indirect subsidiary of Transamerica Corporation which conducts most of its operations through subsidiary companies engaged in the insurance business or in providing non-insurance financial services. All of the stock of Transamerica Corporation is indirectly owned by AEGON N.V. of The Netherlands, the securities of which are publicly traded. AEGON N.V., a holding company, conducts its business through subsidiary companies engaged primarily in the insurance business. The Company is licensed in the District of Columbia, Guam, Puerto Rico, the U.S. Virgin Islands, and all states except New York.

All obligations arising under the policies, including the promise to make annuity payments, are general corporate obligations of the Company.

Financial Condition of the Company

We pay benefits under your Contract from our general account assets and/or from your policy value held in the separate account. It is important that you understand that payments of the benefits depend upon certain factors discussed below.

Assets in the Separate Account.You assume all of the investment risk for your policy value that is allocated to the subaccounts of the separate account. Your policy value in those subaccounts constitutes a portion of the assets of the separate account. These

94

assets are segregated and insulated from our general account, and may not be charged with liabilities arising from any other business that we may conduct.

Assets in the General Account. You also may be permitted to make allocations to guaranteed period options of the fixed account, which are supported by the assets in our general account. Any guarantees under a policy that exceed policy value, such as those associated with any lifetime withdrawal benefit riders and any optional death benefits, are paid from our general account (and not the separate account). Therefore, any amounts that we may be obligated to pay under the policy in excess of policy value are subject to our financial strength and claims-paying ability and our long-term ability to make such payments. The assets of the separate account, however, are also available to cover the liabilities of our general account, but only to the extent that the separate account assets exceed the separate account liabilities arising under the policies supported by it.

We issue other types of insurance policies and financial products as well, and we also pay our obligations under these products from our assets in the general account.

Our Financial Condition. As an insurance company, we are required by state insurance regulation to hold a specified amount of reserves in order to meet all the contractual obligations of our general account. In order to meet our claims-paying obligation we monitor our reserves so that we hold sufficient amounts to cover actual or expected policy and claims payments. However, it is important to note that there are risks to purchasing any insurance product.

State insurance regulators also require insurance companies to maintain a minimum amount of capital, which acts as a cushion in the event that the insurer suffers a financial impairment, based on the inherent risks in the insurer’s operations. These risks include those associated with losses that we may incur as the result of defaults on the payment of interest or principal on our general account assets, which include bonds, mortgages, general real estate investments, and stocks, as well as the loss in market value of these investments.

How to Obtain More Information. We encourage both existing and prospective policy owners to read and understand our financial statements. We prepare our financial statements on a statutory basis. Our financial statements, which are presented in conformity with accounting practices prescribed or permitted by the Iowa Department of Commerce, Insurance Division as well as the financial statements of the separate account—are located in the statement of Additional Information (SAI). For a free copy of the SAI, simply call or write us at the phone number or address of our Administrative and Service Office referenced in this prospectus. In addition, the SAI’s available on the SEC;s website at http://www.sec.gov. Our financial strength can be found on our website.

The Separate Account

The Company established a separate account, called Separate Account VA B, under the laws of the State of Iowa on January 19, 1990. The separate account receives and invests the premium payments that are allocated to it for investment in shares of the underlying fund portfolios.

The separate account is registered with the SEC as a unit investment trust under the 1940 Act. However, the SEC does not supervise the management, the investment practices, or the policies of the separate account or the Company. Income, gains and losses (whether or not realized), from assets allocated to the separate account are, in accordance with the policies, credited to or charged against the separate account without regard to the Company’s other income, gains or losses.

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The assets of the separate account are held in the Company’s name on behalf of the separate account and belong to the Company. However, those assets that underlie the policies are not chargeable with liabilities arising out of any other business the Company may conduct. The separate account may include other subaccounts that are not available under these policies.

Distribution of the Policies

Distribution and Principal Underwriting Agreement. We have entered into a principal underwriting agreement with our affiliate, Transamerica Capital, Inc. (TCI), for the distribution and sale of the policies. We pay commissions to TCI which are passed through to selling firms. (See below). We also pay TCI an “override” that is a percentage of total commissions paid on sales of our policies which is not passed through to the selling firms and we may reimburse TCI for certain expenses it incurs in order to pay for the distribution of the policies. TCI markets the policies through bank affiliated firms, national brokerage firms, regional and independent broker-dealers and independent financial planners.

Compensation to Broker-Dealers Selling the Policies. The policies are offered to the public through broker-dealers (“selling firms”) that are licensed under the federal securities laws; the selling firm and/or its affiliates are also licensed under state insurance laws. The selling firms have entered into written selling agreements with us and with TCI as principal underwriter for the policies. We pay commissions through TCI to the selling firms for their sales of the policies.

A limited number of affiliated and unaffiliated broker-dealers may also be paid commissions and overrides to “wholesale” the policies, that is, to provide sales support and training to sales representatives at the selling firms. We also provide compensation to a limited number of broker-dealers for providing ongoing service in relation to the policies that have already been purchased.

The selling firms that have selling agreements with us and TCI are paid commissions for the promotion and sale of the policies according to one or more schedules. The amount and timing of commissions may vary depending on the selling agreement, but the maximum commission is 1.25% of premiums (additional amounts may be paid as overrides to wholesalers).

To the extent permitted by Financial Industry Regulatory Authority (FINRA) rules, TCI may pay (or allow other broker-dealers to provide) promotional incentives or payments in the form of cash or non-cash compensation or reimbursement to some, but not all, selling firms and their sales representatives. These arrangements are sometimes referred to as “revenue sharing” arrangements and are described further below.

The sales representative who sells you the policy typically receives a portion of the compensation we (and our affiliates) pay to the selling firms, depending on the agreement between the selling firm and its registered representative and the firm’s internal compensation program. These programs may include other types of cash and non-cash compensation and other benefits. Ask your sales representative for further information about the compensation your sales representative, and the selling firm that employs your sales representative, may receive in connection with your purchase of a policy. Also inquire about any revenue sharing arrangements that we and our affiliates may have with the selling firm, including the conflicts of interests that such arrangements may create.

You should be aware that a selling firm or its sales representatives may receive different compensation or incentives for selling one product over another. In some cases, these payments may create an incentive

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for the selling firm or its sales representatives to recommend or sell this policy to you. You may wish to take such payments into account when considering and evaluating any recommendation relating to the policies.

Special Compensation Paid to Affiliated Firms.

We and/or our affiliates provide paid-in capital to TCI and pay the cost of TCI’s operating and other expenses, including costs for facilities, legal and accounting services, and other internal administrative functions. We and/or our affiliates also provide TCI with a percentage of total commissions paid on sales of our policies and provide TCI with capital payments that are not contingent on sales.

TCI’s registered representatives and supervisors may receive non-cash compensation, such as attendance at conferences, seminars and trips (such as travel, lodging and meals in connection therewith), entertainment, merchandise and other similar items, payments, loans, loan forgiveness or loan guaranties.

Additional Compensation That We, TCI and/or Our Affiliates Pay to Selected Selling Firms. TCI, in connection with the sales of the policies, may pay certain selling firms additional cash amounts for “preferred product” treatment of the policies in their marketing programs in order to receive enhanced marketing services and increased access to their sales representatives. In exchange for providing TCI with access to their distribution network, such selling firms may receive additional compensation or reimbursement for, among other things, the hiring and training of sales personnel, marketing, sponsoring of conferences, meetings, seminars, events, and/or other services they provide to us and our affiliates. To the extent permitted by applicable law, TCI and other parties may provide the selling firms with occasional gifts, meals, tickets or other non-cash compensation as an incentive to sell the policies. These special compensation arrangements are not offered to all selling firms and the terms of such arrangements may differ among selling firms.

Special compensation arrangements are calculated in different ways by different selling firms and may be based on past or anticipated sales of the policies and other criteria. For instance, in 2009, TCI, in connection with the sales of our policies, made flat fee payments to several selling firms ranging from $6,350 to $500,000, and payments of between 0.10% and 1.32% on new sales. TCI also paid selling firms special fees based on new sales and/or assets under management.

During 2009, we and/or TCI had such “preferred product” arrangements with the following selling firms:

Bank of America

CCO Investments Services Corp.

Centarus Financial, Inc.

Compass Brokerage, Inc.

CUSO FinancialServices, L.P.

Equity Services

Fintegra

Girard Securities

Hantz Financial Services, Inc.

Harbour Investments

Intersecurities now Transamerica Financial

Investment Centers, Inc.

Investors Capital National Convention

James T Borello & Company

Kovack Securities

Life Investors

LPL Financial

M & T Securities, Inc.

Merrill Lynch

Money Concepts

Morgan Stanley

National Life Group

Newbridge Financial

Next Financial Group

Park Avenue Securities LLC

Raymond James and Associates

Raymond James Financial Services

Signator Investments

Smith Barney

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Summit Equities

Suntrust Annual

The Huntington Investment Company

The Planner Network

UBS Financial Services

UnionBanc Investment Services LLC

US Bancorp Investments, Inc.

USAdvisors Network

Valmark Securities, Inc.

Wachovia Bank

Wachovia Securities

Waterstone

World Group Securities

During 2009, in conjunction with TCI, we paid the following amounts (in addition to sales commissions) to the top 10 selling firms (in terms of amounts paid):

Name of Firm	Amount Paid in 2009
Merrill Lynch	$	1,162,747
LPL Financial	$	804,802
Wachovia Securities	$	629,664
Smith Barney	$	614,101
Wachovia Bank	$	540,907
USB Financial Services	$	539,035
Raymond James Financial Services	$	482,953
Bank of America	$	357,620
Intersecurities now Transamerica Financial	$	311,101
CCO Investments Services Corp.	$	164,471

No specific charge is assessed directly to policy owners or the separate account to cover commissions, non-cash compensation, and other incentives or payments described above. We do intend to recoup commissions and other sales expenses and incentives we pay, however, through fees and charges deducted under the policy and other corporate revenue.

TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION

Glossary of Terms

The Policy - General Provisions

Certain Federal Income Tax Consequences

Investment Experience

Historical Performance Data

Published Ratings

State Regulation of Transamerica Life Insurance Company

Administration

Records and Reports

Distribution of the Policies

Voting Rights

Other Products

Custody of Assets

Legal Matters

Independent Registered Public Accounting Firm

Other Information

Financial Statements

Appendix - Condensed Financial Information

Appendix - OA Method Transfers

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APPENDIX

CONDENSED FINANCIAL INFORMATION

The following tables list the accumulation unit value information for accumulation units outstanding for policies with the highest total separate account expenses and policies with the lowest total separate account expenses available on December 31, 2009. Should the total separate account expense applicable to your policy fall between the highest and lowest charges, AND you wish to see a copy of the Condensed Financial Information applicable to your policy, such information is contained in the SAI. You can obtain a copy of the SAI FREE OF CHARGE by contacting us at:

calling:	(800) 525-6205
writing:	Transamerica Life Insurance Company
	4333 Edgewood Road NE
	Cedar Rapids, IA 52499-0001

	Year	2.35%
Subaccount		Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	0.791064	$	0.965395	36,603.301
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.791064	25,794.608
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	0.761839	$	0.939349	2,310,531.733
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.761839	404,624.442
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	0.713422	$	0.891308	1,603,360.459
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.713422	1,125,198.796
Transamerica International Moderate Growth VP – Service Class	2009	$	0.682134	$	0.861942	908,777.419
Subaccount Inception Date May 1, 2006	2008	$	1.000000	$	0.682134	462,486.792
Transamerica Foxhall Global Conservative VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.995049	$	0.982642	0.000
Transamerica PIMCO Total Return VP – Service Class	2009	$	0.914573	$	1.034332	191,381.210
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.914573	0.000
Transamerica Efficient Markets VP – Service Class	2009	$	1.035634	$	1.192580	2,045.146
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.035634	0.000
Transamerica Balanced VP – Service Class(6)	2009	$	0.730313	$	0.898631	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.730313	0.000
Transamerica Money Market VP – Service Class	2009	$	0.997130	$	0.974345	410,140.730
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.997130	499,848.546
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.026549	$	1.045079	0.000
Subaccount Inception Date August 3, 1994	2008	$	1.000000	$	1.026549	24,796.039
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.711438	$	0.855991	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.711438	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999936	$	0.997267	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.813250	$	0.925927	109,564.307
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.813250	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.717740	$	0.863815	112,931.656
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.717740	25,744.346
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.011815	$	1.227904	59,166.767
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.011815	0.000
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.661888	$	0.894518	210,572.384
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.661888	0.000

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CONDENSED FINANCIAL INFORMATION — (Continued)

	Year	2.35%
Subaccount		Beginning AUV		Ending AUV		# Units
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989162	$	1.255171	56,305.886
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989162	0.000
American Funds – Asset Allocation Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.989759	$	1.007176	0.000
American Funds – Bond Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	1.000880	$	0.992900	0.000
GE Investments Total Return Fund – Class 3
Subaccount inceptiond date November 19, 2009	2009	$	0.988791	$	1.002820	0.000
	Year	1.25%
Subaccount		Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Initial Class(1)	2009	$	0.584947	$	0.693704	0.000
Subaccount Inception Date May 1, 2001	2008	$	0.936886	$	0.584947	0.000
	2007	$	1.000000	$	0.936886	0.000
Transamerica Asset Allocation – Conservative VP – Initial Class	2009	$	0.795090	$	0.983355	287,379.543
Subaccount Inception Date May 1, 2002	2008	$	1.021416	$	0.795090	29,044.891
	2007	$	1.000000	$	1.021416	0.000
Transamerica Asset Allocation – Growth VP – Initial Class	2009	$	0.603440	$	0.773706	86,447.348
Subaccount Inception Date May 1, 2002	2008	$	1.012200	$	0.603440	56,071.597
	2007	$	1.000000	$	1.012200	0.000
Transamerica Asset Allocation – Moderate VP – Initial Class	2009	$	0.752513	$	0.939452	88,838.746
Subaccount Inception Date May 1, 2002	2008	$	1.029175	$	0.752513	49,711.129
	2007	$	1.000000	$	1.029175	0.000
Transamerica Asset Allocation – Moderate Growth VP – Initial Class	2009	$	0.677869	$	0.858024	25,322.940
Subaccount Inception Date May 1, 2002	2008	$	1.020832	$	0.677869	11,234.727
	2007	$	1.000000	$	1.020832	0.000
Transamerica BlackRock Large Cap Value VP – Initial Class(1)	2009	$	0.636826	$	0.716970	498,832.746
Subaccount Inception Date May 1, 2000	2008	$	0.975360	$	0.636826	7,078.250
	2007	$	1.000000	$	0.975360	0.000
Transamerica Clarion Global Real Estate Securities VP – Initial Class	2009	$	0.501961	$	0.661431	111,925.268
Subaccount Inception Date May 1, 2002	2008	$	0.882088	$	0.501961	87,241.772
	2007	$	1.000000	$	0.882088	9,551
Transamerica JPMorgan Enhanced Index VP – Initial Class	2009	$	0.603098	$	0.771901	867,921.368
Subaccount Inception Date May 1, 1997	2008	$	0.974724	$	0.603098	350,271.455
	2007	$	1.000000	$	0.974724	0.000
Transamerica Jennison Growth VP – Initial Class(2)	2009	$	0.663540	$	0.924062	58,255.688
Subaccount Inception Date November 20, 1996	2008	$	1.066570	$	0.663540	56,353.894
	2007	$	1.000000	$	1.066570	0.000
Transamerica Focus VP – Initial Class(3)	2009	$	0.599986	$	0.757969	117,397.925
Subaccount Inception Date May 1, 2000	2008	$	0.954687	$	0.599986	117,423.314
	2007	$	1.000000	$	0.954687	0.000
Transamerica AEGON High Yield Bond VP – Initial Class(4)	2009	$	0.716731	$	1.042268	139,736.995
Subaccount Inception Date June 2, 1998	2008	$	0.970205	$	0.716731	179,144.803
	2007	$	1.000000	$	0.970205	5,022
Transamerica MFS International Equity VP – Initial Class	2009	$	0.644262	$	0.844275	35,539.162
Subaccount Inception Date May 1, 2001	2008	$	1.008122	$	0.644262	784.555
	2007	$	1.000000	$	1.008122	0.000

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CONDENSED FINANCIAL INFORMATION — (Continued)

	Year	1.25%
Subaccount		Beginning AUV		Ending AUV		# Units
Transamerica Marsico Growth VP – Initial Class(2)	2009	$	0.669936	$	0.837894	7,792.748
Subaccount Inception Date May 1, 2000	2008	$	1.148685	$	0.669936	7,802.868
	2007	$	1.000000	$	1.148685	0.000
Transamerica PIMCO Total Return VP – Initial Class	2009	$	1.017843	$	1.166474	488,196.617
Subaccount Inception Date May 1, 2002	2008	$	1.060211	$	1.017843	179,905.021
	2007	$	1.000000	$	1.060211	0.000
Transamerica T. Rowe Price Equity Income VP – Initial Class(1)	2009	$	0.606542	$	0.751337	1,646,715.000
Subaccount Inception Date January 20, 1995	2008	$	0.959180	$	0.606542	1,306,519.511
	2007	$	1.000000	$	0.959180	339,511.935
Transamerica T. Rowe Price Growth Stock VP – Initial Class(2)	2009	$	0.584441	$	0.827234	855,805.879
Subaccount Inception Date January 5, 1995	2008	$	1.027006	$	0.584441	559,780.334
	2007	$	1.000000	$	1.027006	22,784.805
Transamerica T. Rowe Price Small Cap VP – Initial ClassClass	2009	$	0.646321	$	0.885390	85,462.541
Subaccount Inception Date May 1, 2000	2008	$	1.026592	$	0.646321	75,660.367
	2007	$	1.000000	$	1.026592	0.000
Transamerica Templeton Global VP – Initial Class(5)	2009	$	0.598347	$	0.758326	513,815.239
Subaccount Inception Date May 1, 2000	2008	$	1.075611	$	0.598347	64,968.606
	2007	$	1.000000	$	1.075611	0.000
Transamerica Balanced VP – Initial Class(6)	2009	$	0.716487	$	0.893729	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.073217	$	0.716487	0.000
	2007	$	1.000000	$	1.073217	0.000
Transamerica Convertible Securities VP – Initial Class	2009	$	0.715652	$	0.928044	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.147892	$	0.715652	0.000
	2007	$	1.000000	$	1.147892	0.000
Transamerica WMC Diversified Growth VP – Initial Class (7)	2009	$	0.596343	$	0.760941	1,328,910.460
Subaccount Inception Date May 1, 2000	2008	$	1.118328	$	0.596343	439,640.646
	2007	$	1.000000	$	1.118328	0.000
Transamerica Growth Opportunities VP – Initial Class	2009	$	0.686632	$	0.928130	14,853.930
Subaccount Inception Date May 1, 2001	2008	$	1.176530	$	0.686632	2,431.395
	2007	$	1.000000	$	1.176530	0.000
Transamerica Money Market VP – Initial Class	2009	$	1.035943	$	1.024461	175,700.728
Subaccount Inception Date July 5, 1994	2008	$	1.024409	$	1.035943	180,892.971
	2007	$	1.000000	$	1.024409	0.000
Transamerica Small/Mid Cap Value VP – Initial Class	2009	$	0.650679	$	0.920358	925,908.280
Subaccount Inception Date July 5, 1994	2008	$	1.114169	$	0.650679	817,966.099
	2007	$	1.000000	$	1.114169	51,065
Transamerica Science & Technology VP – Initial Class(5)	2009	$	0.639825	$	0.996972	22,379.079
Subaccount Inception Date May 1, 2001	2008	$	1.260286	$	0.639825	0.000
	2007	$	1.000000	$	1.260286	0.000
Transamerica U.S. Government Securities VP – Initial Class	2009	$	1.095199	$	1.130004	179,774.086
Subaccount Inception Date August 3, 1994	2008	$	1.030008	$	1.095199	268,176.283
	2007	$	1.000000	$	1.030008	0.000
Transamerica Morgan Stanley Active International Allocation VP – Initial Class(8)	2009	$	0.639849	$	0.795520	761,038.355
Subaccount Inception Date July 5, 1994	2008	$	1.059192	$	0.639849	607,184.790
	2007	$	1.000000	$	1.059192	0.000
Transamerica Multi Managed Large Cap Core VP – Initial Class(9)	2009	$	0.582120	$	0.836016	625,211.959
Subaccount Inception Date July 5, 1994	2008	$	1.017707	$	0.582120	275,627.709
	2007	$	1.000000	$	1.017707	0.000

101

CONDENSED FINANCIAL INFORMATION — (Continued)

	Year	1.25%
Subaccount		Beginning AUV		Ending AUV		# Units
Transamerica Morgan Stanley Mid-Cap Growth VP – Initial Class(10)	2009	$	0.594140	$	0.942178	12,360.682
Subaccount Inception Date May 1, 2001	2008	$	1.120084	$	0.594140	12,752.965
	2007	$	1.000000	$	1.120084	0.000
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.091239	$	1.123009	0.000
Subaccount Inception Date November 3, 2003	2008	$	1.028649	$	1.091239	0.000
	2007	$	1.000000	$	1.028649	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.454172	$	0.662709	6,730.038
Subaccount Inception Date May 1, 2002	2008	$	0.956149	$	0.454172	6,730.038
	2007	$	1.000000	$	0.956149	0.000
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.591556	$	0.705296	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.044012	$	0.591556	0.000
	2007	$	1.000000	$	1.044012	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.583523	$	0.693596	0.000
Subaccount Inception Date May 1, 2001	2008	$	0.996279	$	0.583523	0.000
	2007	$	1.000000	$	0.996279	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.645899	$	0.874638	0.000
Subaccount Inception Date May 1, 2001	2008	$	1.086768	$	0.645899	0.000
	2007	$	1.000000	$	1.086768	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.626367	$	0.838051	38,114.885
Subaccount Inception Date May 1, 2000	2008	$	1.106693	$	0.626367	58,886.927
	2007	$	1.000000	$	1.106693	26,292.375
Fidelity VIP Equity – Income Portfolio – Service Class 2	2009	$	0.534361	$	0.685479	19,540.326
Subaccount Inception Date May 1, 2000	2008	$	0.946121	$	0.534361	0.000
	2007	$	1.000000	$	0.946121	0.000
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.618145	$	0.781239	188,675.400
Subaccount Inception Date May 1, 2001	2008	$	1.187869	$	0.618145	78,699.092
	2007	$	1.000000	$	1.187869	0.000
Fidelity VIP Growth Opportunities Portfolio – Service Class 2	2009	$	0.497297	$	0.714448	140.226
Subaccount Inception Date May 1, 2000	2008	$	1.122406	$	0.497297	140.226
	2007	$	1.000000	$	1.122406	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	0.634696	$	0.876053	130,784.396
Subaccount Inception Date May 1, 2000	2008	$	1.064131	$	0.634696	95,843.655
	2007	$	1.000000	$	1.064131	0.000
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.447216	$	0.694130	321,966.434
Subaccount Inception Date May 1, 2002	2008	$	0.929567	$	0.447216	145,251.507
	2007	$	1.000000	$	0.929567	0.000
Franklin Income Securities Fund – Class 2	2009	$	0.674813	$	0.903723	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.971353	$	0.674813	0.000
	2007	$	1.000000	$	0.971353	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.599635	$	0.746489	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.965403	$	0.599635	0.000
	2007	$	1.000000	$	0.9655403	0.000
Templeton Foreign Securities Fund – Class 2	2009	$	0.630121	$	0.852876	3,868.450
Subaccount Inception Date May 1, 2007	2008	$	1.070130	$	0.630121	3,873.326
	2007	$	1.000000	$	1.070130	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.605702	$	0.864100	5,092.875
Subaccount Inception Date October 9, 2000	2008	$	1.092409	$	0.605702	5,092.875
	2007	$	1.000000	$	1.092409	0.000

102

CONDENSED FINANCIAL INFORMATION — (Continued)

	Year	1.25%
Subaccount		Beginning AUV		Ending AUV		# Units
Janus Aspen – Perkins Mid Cap Value Portfolio – Service Shares	2009	$	0.703750	$	0.923874	1,889.194
Subaccount Inception Date October 9, 2000	2008	$	0.988260	$	0.703750	1,893.494
	2007	$	1.000000	$	0.988260	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.544832	$	0.739380	67,651.539
Subaccount Inception Date October 9, 2000	2008	$	0.999557	$	0.544832	0.000
	2007	$	1.000000	$	0.999557	0.000
MFS ® New Discovery Series – Service Class	2009	$	0.564330	$	0.908059	22,342.919
Subaccount Inception Date May 1, 2002	2008	$	0.944800	$	0.564330	1,662.215
	2007	$	1.000000	$	0.944800	0.000
MFS ® Total Return Series – Service Class	2009	$	0.753440	$	0.876023	48,063.575
Subaccount Inception Date May 1, 2002	2008	$	0.982111	$	0.753440	36,892.965
	2007	$	1.000000	$	0.982111	0.000
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993371	$	1.003480	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999966	$	0.998540	0.000
Transamerica Index 50 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.991650	$	0.996462	0.000
Transamerica Index 75 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.988780	$	0.999658	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999966	$	1.024505	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subacount inception date November 19, 2009	2009	$	0.985165	$	1.029949	0.000

(1) Transamerica American Century Large Company Value VP, Transamerica Capital Guardian Value VP and Transamerica T. Rowe Price Equity Income VP merged into Transamerica BlackRock Large Cap Value VP.

(2) Transamerica Marsico Growth VP and Transamerica T. Rowe Price Growth Stock VP merged into Transamerica Jennison Growth VP.

(3) Formerly known as Transamerica Legg Mason Partners All Cap VP.

(4) Formerly known as Transamerica MFS High Yield VP.

(5) Transamerica Science & Technology VP merged into Transamerica Templeton Global VP and Transamerica Templeton Global VP changed its name to Transamerica Diversified Equity VP.

(6) Transamerica Value Balanced VP merged into Transamerica Balanced VP.

(7) Formerly known as Transamerica Equity VP.

(8) Formerly known as Transamerica Van Kampen Active International Allocation VP.

(9) Formerly known as Transamerica Van Kampen Large Cap Core VP.

(10) Formerly known as Transamerica Van Kampen Mid-Cap Growth VP.

(11) References to “AIM” have been replaced with “Invesco”due to branding changes.

103

APPENDIX

POLICY VARIATIONS

The dates shown below are the approximate first issue dates of the various versions of the policy. These dates will vary by state in many cases. This Appendix describes certain of the more significant differences in features of the various versions of the policy. There may be additional variations. Please see your actual policy and any attachments for determining your specific coverage.

Policy Form/Endorsement	Approximate First Issue Date
AV212 101 75 1292 (Policy Form)	May 1993
V829 & S831 (replacement pages for 1.65 M&E)	January 1994
AE872 395 (endorsement)	May 1995
AV265 101 89 396 (Policy Form)	June 1996
AE900 396 (endorsement)	June 1996
AV339 101 101 497 (Policy Form)	July 1997
AE957 497 (endorsement)	July 1997
AV400 101 107 198 (Policy Form)	May 1998
AV864 101 165 103 (Policy Form)	November 2003

104

Product Feature	Transamerica Freedom 95 Form Number: – AV212 101 75 1292	Transamerica Freedom 95 Form Number: – AV212 101 75 1292, with V829 and S831 Replacement Pages – AV212 101 75 395 SP Replacement Spec – AE 872 395 Death Benefit Endorsement	Transamerica Freedom 96 Form Number: – AV265 101 89 396 – AE900 396
Guaranteed Minimum Death Benefit Option(s)	5% Annually Compounding or Annual Step-Up.	5% Annually Compounding or Annual Step-Up.	A. 5% Annually Compounding B. Annual Step-Up C. Return of Premium
			Option A is available if Owner and Annuitant are both under age 75. Option B is available if Owner and Annuitant are both under age 81. Option C is available for issue ages 81-84.
Death Proceeds	Greater of:	Greater of:	Greatest of:
	1)  the Policy Value on the date we receive due proof of death 2)  the total premiums paid for this policy, less any partial surrenders made before death, accumulated at 5% interest per annum to the date we receive due proof of death.	1)  the Policy Value on the date we receive due proof of death 2)  the total premiums paid for this policy, less any partial surrenders made before death, accumulated at 5% interest per annum to the date we receive due proof of death.	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit
Mortality & Expense Risk Fee and Administrative Charge prior to Annuity Commencement Date	•     1.65% first 10 policy years •     0.25% less after first 10 policy years	•     1.65% first 10 policy years •     0.25% less after first 10 policy years	•     1.65% first 10 policy years •     0.25% less after first 10 policy years
Is Mortality & Expense Risk Fee and Administrative Charge different after the Annuity Commencement Date?	No	No	No
Fund Facilitation Fee	No	No	No
Guaranteed Period Options (available in the Fixed Account)	N/A	N/A	1, 3 and 5 year Guaranteed Periods available.
Distribution Financing Charge	N/A	Applicable	Applicable
Annual Contract Charge (Service Charge)	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary
Optional Riders	•     Family Income Protector •     Managed Annuity Program •     5 for Life 2005	•     Family Income Protector •     Managed Annuity Program •     5 for Life 2005	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Taxpayer •     Family Income Protector •     Managed Annuity Program •     Managed Annuity Program II •     Living Benefit Rider 2003 •     Living Benefit Rider 2005 •     5 for Life 2005
Excess Interest Adjustment	N/A	N/A	Yes
Asset Rebalancing Option	Yes	Yes	Yes
Dollar Cost Averaging Option	Yes (No fixed DCA Account)	Yes	Yes
Nursing Care and Terminal Condition Withdrawal Option	N/A	N/A	Yes (by Endorsement AE 900 396)
Unemployment Waiver	N/A	N/A	N/A

105

Product Feature	Transamerica Freedom 97 Form Number: – AV339 101 101 497 – AE957 497	Transamerica Freedom 98 Form Number: – AV400 101 107 198 – AE957 497	Transamerica Freedom 98 Form Number: – AV400 101 107 198 – RGMI 1 798
Guaranteed Minimum Death Benefit Option(s)	A.     5% Annually Compounding B.     Annual Step-Up C.     Return of Premium Option A is available if Owner and Annuitant are both under age 75. Option B is available if Owner and Annuitant are both under age 81.	A.     5% Annually Compounding B.     Double Enhanced C.     Return of Premium Option A is available if Owner and Annuitant are both under age 75. Option B is available if Owner and Annuitant are both under age 81.	A.     5% Annually Compounding B.     Double Enhanced C.     Return of Premium Option A is available if Owner and Annuitant are both under age 75. Option B is available if Owner and Annuitant are both under age 81.
Death Proceeds	Greatest of:	Greatest of:	Greatest of:
	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit.	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit.	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit.
Mortality & Expense Risk Fee and Administrative Charge prior to Annuity Commencement Date	•     1.50% for Return of Premium - first 10 Policy Years •     1.65% for Annual Step-Up - first 10 Policy Years •     1.65% for 5% Compounding - first 10 Policy Years •     0.25% less after First 10 Policy Years	•     1.50% for Return of Premium - first 10 Policy Years •     1.65% for Double Enhanced - first 10 Policy Years •     1.65% for 5% Compounding - first 10 Policy Years •     0.25% less after First 10 Policy Years	•     1.50% for Return of Premium - first 10 Policy Years •     1.65% for Double Enhanced - first 10 Policy Years •     1.65% for 5% Compounding - first 10 Policy Years •     0.25% less after First 10 Policy Years
Is Mortality & Expense Risk Fee and Administrative Charge different after the Annuity Commencement Date?	No	Yes – 1.10% plus Administrative Charge, regardless of death benefit chosen prior to the Annuity Commencement Date.	Yes – 1.10% plus Administrative Charge, regardless of death benefit chosen prior to the Annuity Commencement Date.
Fund Facilitation Fee	No	No	No
Guaranteed Period Options (available in the Fixed Account)	1, 3, and 5 year Guaranteed Periods available.	1, 3, and 5 year Guaranteed Periods available.	1, 3, and 5 year Guaranteed Periods available.
Distribution Financing Charge	Applicable	Applicable	Applicable
Annual Contract Charge (Service Charge)	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary
Optional Riders	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Taxpayer •     Family Income Protector •     Managed Annuity Program •     Managed Annuity Program II •     Living Benefit Rider 2003 •     Living Benefit Rider 2005 •     5 for Life 2005	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Taxpayer •     Family Income Protector •     Managed Annuity Program •     Managed Annuity Program II •     Living Benefit Rider 2003 •     Living Benefit Rider 2005 •     5 for Life 2005	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Taxpayer •     Family Income Protector •     Managed Annuity Program •     Managed Annuity Program II •     Living Benefit Rider 2003 •     Living Benefit Rider 2005 •     5 for Life 2005
Excess Interest Adjustment	Yes	Yes	Yes
Asset Rebalancing	Yes	Yes	Yes
Dollar Cost Averaging Fixed Account Option	Yes	Yes	Yes
Nursing Care and Terminal Condition Withdrawal Option	Yes (by Endorsement AE 957 497)	Yes (by Endorsement AE 957 497)	Yes (by Endorsement AE 957 497)

106

Product Feature	Transamerica Freedom 97 Form Number: – AV339 101 101 497 – AE957 497	Transamerica Freedom 98 Form Number: – AV400 101 107 198 – AE957 497	Transamerica Freedom 98 Form Number: – AV400 101 107 198 – RGMI 1 798
Unemployment Waiver	N/A	N/A	N/A
Product Feature	Transamerica Freedom 2003 Form Number: – AV864 101 165 103	Transamerica Freedom 2006 Form Number: – AV864 101 165 103	Transamerica Freedom 2008 Form Number: – AV864 101 165 103
Guaranteed Minimum Death Benefit Option(s)	A.     Modal Double Enhanced - RGMD 6 0203 B.     Modal Annual Step-Up - RGMD 5 0103 C.     Return of Premium - RGMD 8 0603.	A.     Modal Double Enhanced - RGMD 6 0203 B.     Modal Annual Step-Up - RGMD 5 0103 C.     Return of Premium - RGMD 8 0603	A.     Modal Double Enhanced - RGMD 15 0108 B.     Modal Annual Step-Up - RGMD 5 0103 C.     Return of Premium - RGMD 8 0603
	Option A is available if Owner and Annuitant are both under age 75. Option B is available if Owner and Annuitant are under age 81.	Option A is available if Owner and Annuitant are both under age 76. Option B is available if Owner and Annuitant are under age 81.	Option A is available if Owner and Annuitant are both under age 76. Option B is available if Owner and Annuitant are under age 76.
Death Proceeds	Greatest of:	Greatest of:	Greatest of:
	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit	1)  Policy Value 2)  Cash Value 3)  Guaranteed Minimum Death Benefit
Mortality & Expense Risk Fee and Administrative Charge prior to Annuity Commencement Date	•   1.65% for Return of Premium •   1.85% for Annual Step-Up •   2.15% for Double Enhanced	•   1.60% for Policy Value •   1.70% for Return of Premium •   1.90% for Annual Step-Up •   2.20% for Double Enhanced	•   1.70% for Return of Premium •   1.90% for Annual Step-Up •   2.35% for Double Enhanced
Is Mortality & Expense Risk Fee and Administrative Charge different after the Annuity Commencement Date?	Yes – 1.10% plus Administrative Charge, regardless of death benefit chosen prior to the Annuity Commencement Date.	Yes – 1.10% plus Administrative Charge, regardless of death benefit chosen prior to the Annuity Commencement Date.	Yes – 1.10% plus Administrative Charge, regardless of death benefit chosen prior to the Annuity Commencement Date.
Fund Facilitation Fee	Yes -	Yes -	Yes -
	•     0.30% if you choose American Funds - Asset Allocation Fund, American Funds - Bond Fund, American Funds - Growth Fund, American Funds - Growth-Income Fund, or American Funds - International Fund. •     0.20% if you choose AllianceBernstein Balanced Wealth Strategy Portfolio or GE Investments Total Return Fund. •     0.15% if you choose Franklin Templeton VIP Founding Funds Allocation Fund. •     0.10% if you choose Transamerica BlackRock Global Allocation VP.	•     0.30% if you choose American Funds - Asset Allocation Fund, American Funds - Bond Fund, American Funds - Growth Fund, American Funds - Growth-Income Fund, or American Funds - International Fund. •     0.20% if you choose AllianceBernstein Balanced Wealth Strategy Portfolio or GE Investments Total Return Fund. •     0.15% if you choose Franklin Templeton VIP Founding Funds Allocation Fund. •     0.10% if you choose Transamerica BlackRock Global Allocation VP.	•     0.30% if you choose American Funds - Asset Allocation Fund, American Funds - Bond Fund, American Funds - Growth Fund, American Funds - Growth-Income Fund, or American Funds - International Fund. •     0.20% if you choose AllianceBernstein Balanced Wealth Strategy Portfolio or GE Investments Total Return Fund. •     0.15% if you choose Franklin Templeton VIP Founding Funds Allocation Fund. •     0.10% if you choose Transamerica BlackRock Global Allocation VP.
Guaranteed Period Options (available in the Fixed Account)	1, 3, and 5 year Guaranteed Periods available.	1, 3, and 5 year Guaranteed Periods available.	1, 3, 5, and 7 year Guaranteed Periods available.
Distribution Financing Charge	Applicable	Applicable	Applicable

107

Product Feature	Transamerica Freedom 2003 Form Number: – AV864 101 165 103	Transamerica Freedom 2006 Form Number: – AV864 101 165 103	Transamerica Freedom 2008 Form Number: – AV864 101 165 103
Annual Contract Charge (Service Charge)	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary	If policy value is: $0-$1750 = 2% $1751-$49999.99 = $35 +$49999.99 = $0 Assessed on each Policy Anniversary
Optional Riders	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Living Benefit Rider 2003 •     5 for Life 2005 •     Income Select for Life	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Living Benefit Rider 2005 •     5 for Life 2005 •     Income Select for Life •     Retirement Income ChoiceSM •     Retirement Income ChoiceSM 2008 (with Double Withdrawal Base Benefit) •     Retirement Income ChoiceSM 1.2 •     Retirement Income ChoiceSM 1.4	•     Taxpayer 2003 •     Taxpayer Plus 2 •     Living Benefit Rider 2005 •     Retirement Income ChoiceSM •     Retirement Income ChoiceSM 2008 (with Double Withdrawal Base Benefit) •     Retirement Income ChoiceSM 1.2 •     Retirement Income ChoiceSM 1.4
Excess Interest Adjustment	Yes	Yes	Yes
Asset Rebalancing	Yes	Yes	Yes
Dollar Cost Averaging Fixed Account Option	Yes	Yes	Yes
Nursing Care and Terminal Condition Withdrawal Option	Yes	Yes	Yes
Unemployment Waiver	Yes	Yes	Yes

108

APPENDIX

EXCESS INTEREST ADJUSTMENT EXAMPLES

Money that you surrender from, transfer out of, or apply to an annuity payment option, from a guaranteed period option of the fixed account before the end of its guaranteed period (the number of years you specified the money would remain in the guaranteed period option) may be subject to an excess interest adjustment (“EIA”). At the time you request a surrender, if interest rates set by the Company have risen since the date of the initial guarantee, the excess interest adjustment will result in a lower cash value. However, if interest rates have fallen since the date of the initial guarantee, the excess interest adjustment will result in a higher cash value.

Excess interest adjustments will not reduce the policy value for a guaranteed period option below the premium payments and transfers to that guaranteed period option, less any prior partial surrenders and transfers from the guaranteed period option, plus interest at the policy’s minimum guaranteed effective annual interest rate. This is referred to as the excess interest adjustment floor.

The formula that will be used to determine the excess interest adjustment is:

		S* (G-C)* (M/12)
S	=	Gross amount being surrendered that is subject to the excess interest adjustment
G	=	Guaranteed interest rate in effect for the policy
C	=	Current guaranteed interest rate then being offered on new premiums for the next longer option period than “M”. If this policy form or such an option period is no longer offered, “C” will be the U.S. Treasury rate for the next longer maturity (in whole years) than “M” on the 25th day of the previous calendar month, plus up to 2%.
M	=	Number of months remaining in the current option period, rounded up to the next higher whole number of months.
*	=	multiplication
^	=	exponentiation

The following examples are for illustrative purposes only and ore calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

109

Excess Interest Adjustment Examples — (Continued)

Example 1 (Full Surrender, rates increase by 4%):

Single premium:	$50,000.00
Guarantee period:	5 Years
Guarantee rate:	5.50% per annum
Surrender:	Middle of policy year 3
Policy value at middle of policy year 3	= 50,000.00 * (1.055) ^ 2.5 = 57,161.18
Adjustment free amount at middle of policy year 3	= 57,161.18 – 50,000 = 7,161.18
Amount subject to excess interest adjustment	= 57,161.18 – 7,161.18 = 50,000.00
Excess interest adjustment floor	= 50,000.00 * (1.015) ^ 2.5 = 51,896.14
Excess interest adjustment
G = .055
C = .095
M = 30
Excess interest adjustment	= S * (G - C) * (M/12)
	= 50,000.00 * (.055 - .095) * (30/12)
	= -5,000.00, but excess interest adjustment cannot cause the adjusted policy value to fall below the excess interest adjustment floor, so the adjustment is limited to 51,896.14 - 57,161.18 = -5,265.03
Adjusted policy value	= policy value + excess interest adjustment
	= 57,161.18 + (-5,265.03) = 51,896.15
Cash value at middle of policy year 3	= policy value + excess interest adjustment
	= 57,161.18 + (-5,265.03) = 51,896.15

Upon full surrender of the policy, the minimum cash value will never be less than that required by the non-forfeiture laws of your state.

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

110

Excess Interest Adjustment Examples — (Continued)

Example 2 (Full Surrender, rates decrease by 1%):

Single premium:	$50,000.00
Guarantee period:	5 Years
Guarantee rate:	5.50% per annum
Surrender:	Middle of policy year 3
Policy value at middle of policy year 3	= 50,000.00 * (1.055) ^ 2.5 = 57,161.18
Adjustment free amount at middle of policy year 3	= 57,161.18 – 50,000.00 = 7,161.18
Amount subject to excess interest adjustment	= 57,161.18 – 7,161.18 = 50,000.00
Excess interest adjustment floor	= 50,000.00 * (1.015) ^ 2.5 = 51,896.14
Excess interest adjustment
G = .055
C = .045
M = 30
Excess interest adjustment	= S * (G - C) * (M/12)
	= 50,000.00 * (.055 - .045) * (30/12) = 1,250.00
Adjusted policy value	= 57,161.18 + 1,250.00 = 58,411.18
Cash value at middle of policy year 3	= policy value + excess interest adjustment
	= 57,161.18 + 1,250.00 = 58,411.18

Upon full surrender of the policy, the minimum cash value will never by less than that required by the non-forfeiture laws of your state.

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

On a partial surrender, the Company will pay the policyholder the full amount of surrender requested (as long as the policy value is sufficient). Amounts surrendered will reduce the policy value by an amount equal to:

R - E

R	=	the requested partial surrender
E	=	the excess interest adjustment

111

Excess Interest Adjustment Examples — (Continued)

Example 3 (Partial Surrender, rates increase by 1%):

Single premium:	$50,000.00
Guarantee period:	5 Years
Guarantee rate:	5.50% per annum
Partial surrender:	$20,000; middle of policy year 3
Policy value at middle of policy year 3	= 50,000.00 * (1.055) ^ 2.5 = 57,161.18
Adjustment free amount at middle of contract year 3	= 57,161.18 – 50,000.00 = 7,161.18
Excess interest adjustment
S= 20,000 – 7,161.18 = 12,838.82
G= .055
C= .065
M= 30
Excess interest adjustment	= S * (G - C) * (M/12)
	= 12,838.82 * (.055 - .065) * (30/12)
	= - 320.97
Remaining policy value at middle of policy year 3	= 57,161.18 - (R - E)
	= 57,161.18 - (20,000.00 - (-320.97)) = 36,840.21

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

Example 4 (Partial Surrender, rates decrease by 1%):

Single premium:	$50,000.00
Guarantee period:	5 Years
Guarantee rate:	5.50% per annum
Partial surrender:	$20,000; middle of policy year 3
Policy value at middle of policy year 3	= 50,000.00 * (1.055) ^ 2.5 = 57,161.18
Adjustment free amount at middle of policy year 3	= 57,161.18 - 50,000.00 = 7,161.18
Excess interest adjustment
S= 20,000 – 7,161.18 = 12,838.82
G= .055
C= .045
M= 30
Excess interest adjustment	= 12,838.82 * (.055 - .045) * (30/12)
	= 320.97
Remaining policy value at middle of policy year 3	= 57,161.18 - (R - E)
	= 57,161.18 - (20,000.00 – 320.97) = 37,482.15

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

112

APPENDIX

DEATH BENEFIT

Adjusted Partial Surrender. If you make a partial surrender (withdrawal), then your guaranteed minimum death benefit is reduced by an amount called the adjusted partial surrender. The amount of the reduction depends on the relationship between your death benefit and policy value. The adjusted partial surrender is equal to (1) plus (2) multiplied by (3), where:

(1) is the amount of the gross partial surrender that is less than the remaining annual adjustment-free amount for the policy year. For any death benefit other than the Double Enhanced Death Benefit, this amount is equal to zero;

(2) is the gross partial surrender amount that exceeds the annual adjustment-free amount (excess gross partial surrender);

(3) is the adjustment factor = current death proceeds after the annual free surrender amount but prior to the excess gross partial surrender divided by the policy value after the free amount but prior to the gross partial surrender.

The following examples describe the effect of a surrender on the guaranteed minimum death benefit and policy value.

Example 1 (Assumed Facts for Example)

Current guaranteed minimum death benefit before surrender	$	75,000
Current policy value before surrender	$	50,000
Current death proceeds	$	75,000
Remaining guaranteed minimum death benefit adjustment free amount	$	3,000
Total Gross Partial Surrender	$	15,494
Adjusted partial surrender = 3,000 + (15,494 – 3,000) * (75,000 – 3,000) / (50,000 – 3,000)	$	22,140
New guaranteed minimum death benefit (after surrender) = 75,000 – 22,140	$	52,860
New policy value (after surrender) = 50,000 – 15,494	$	34,506

Summary:
Reduction in guaranteed minimum death benefit	=$	22,140
Reduction in policy value	=$	15,494

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

** The guaranteed minimum death benefit is reduced more than the policy value because the guaranteed minimum death benefit was greater than the policy value just prior to the surrender.

113

Death Benefit — (Continued)

Example 2 (Assumed Facts for Example)

Current guaranteed minimum death benefit before surrender	$	50,000
Current policy value before surrender	$	75,000
Current death proceeds	$	75,000
Remaining guaranteed minimum death benefit adjustment free surrender amount	$	1,000
Total Gross Partial Surrender	$	15,556
Adjusted partial surrender = 1,000 + (15,556 – 1,000) * (75,000 – 1,000) / (75,000 – 1,000)	$	15,556
New guaranteed minimum death benefit (after surrender) = 50,000 – 15,556	$	34,444
New policy value (after surrender) = 75,000 – 15,556	$	59,444

Summary:
Reduction in guaranteed minimum death benefit	=$	15,556
Reduction in policy value	=$	15,556

* This example is for illustrative purposes only. The purpose of this illustration is to demonstrate how this feature is calculated using hypothetical values. Your experience will vary based on circumstances at the time of withdrawal.

** The guaranteed minimum death benefit and policy value are reduced by the same amount because the policy value was higher than the guaranteed minimum death benefit just prior to the surrender.

114

Death Benefit — (Continued)

Hypothetical Example

In this example, certain death benefit values at various points in time are depicted based on hypothetical assumed rates of performance. This example is for illustrative purposes only and assumes a single $100,000 premium payment by a sole owner and annuitant who is age 50. It further assumes no subsequent premium payments or withdrawals.

End of Year	Net Rate of Return for Fund*		Return of Premium		Annual Step-Up
Issue	N/A		$	100,000	$	100,000
1	-4	%	$	100,000	$	100,000
2	18	%	$	100,000	$	110,093
3	15	%	$	100,000	$	124,955
4	-7	%	$	100,000	$	124,955
5	2	%	$	100,000	$	124,955
6	10	%	$	100,000	$	124,955
7	14	%	$	100,000	$	140,257
8	-3	%	$	100,000	$	140,257
9	17	%	$	100,000	$	154,706
10	6	%	$	100,000	$	161,668

* The assumed rate does reflect the deduction of a hypothetical fund fee but does not reflect the deduction of any other fees, charges or taxes. The death benefit values do reflect the deduction of hypothetical base policy fees and hypothetical death benefit fees. Different hypothetical returns and fees would produce different results.

115

APPENDIX

ADDITIONAL DEATH DISTRIBUTION RIDER — ADDITIONAL INFORMATION

The following example illustrates the Additional Death Distribution additional death benefit payable by this rider as well as the effect of a partial surrender on the Additional Death Distribution benefit amount. The annuitant is less than age 71 on the Rider Date.

Example 1

Policy Value on the Rider Date:	$	100,000
Premiums paid after the Rider Date before Surrender:	$	25,000
Gross Partial Surrenders after the Rider Date:	$	30,000
Policy Value on date of Surrender:	$	150,000
Rider Earnings on Date of Surrender (Policy Value on date of surrender – Policy Value on Rider Date – Premiums paid after Rider Date + Surrenders since Rider Date that exceeded Rider Earnings = $150,000 - $100,000 - $25,000 + 0):	$	25,000
Amount of Surrender that exceeds Rider Earnings ($30,000 - $25,000):	$	5,000
Base Policy Death Benefit on the date of Death Benefit Calculation:	$	200,000
Policy Value on the date of Death Benefit Calculations:	$	175,000
Rider Earnings (= Policy Value on date of Death Benefit Calculations – policy value on Rider Date – Premiums since Rider Date + Surrenders since Rider Date that exceeded Rider Earnings = $175,000 - $100,000 - $25,000 + $5,000):	$	55,000
Additional Death Benefit Amount (= Additional Death Benefit Factor * Rider Earnings = 40%* $55,000):	$	22,000
Total Death Benefit paid (=Base policy death benefit plus Additional Death Benefit Amount):	$	222,000
Example 2
Policy Value on the Rider Date:	$	100,000
Premiums paid after the Rider Date before Surrender:	$	0
Gross Partial Surrenders after the Rider Date:	$	0
Base Policy Death Benefit on the date of Death Benefit Calculation:	$	100,000
Policy Value on the date of Death Benefit Calculations:	$	75,000
Rider Earnings (= Policy Value on date of death benefit calculations – policy value on Rider Date – Premiums since Rider Date + Surrenders since Rider Date that exceeded Rider Earnings = $75,000 - $100,000 - $0 + $0):	$	0
Additional Death Benefit Amount (= Additional Death Benefit Factor * Rider Earnings = 40%* $0):	$	0
Total Death Benefit paid (=Base policy death benefit plus Additional Death Benefit Amount):	$	100,000

116

APPENDIX

ADDITIONAL DEATH DISTRIBUTION+ RIDER - ADDITIONAL INFORMATION

Assume the Additional Death Distribution+ is added to a new policy opened with $100,000 initial premium. The annuitant is less than age 71 on the Rider Date. On the first and second Rider Anniversaries, the Policy Value is $110,000 and $95,000 respectively when the Rider Fees are deducted. The annuitant adds $25,000 premium in the 3rd Rider Year when the Policy Value is equal to $115,000 and then takes a withdrawal of $35,000 during the 4th Rider Year when the Policy Value is equal to $145,000. After 5 years, the Policy Value is equal to $130,000 and the death proceeds are equal to $145,000.

Example 1

Account Value on Rider Date (equals initial policy value since new policy)	$	100,000
Additional Death Benefit during first Rider Year	$	0
Rider Fee on first Rider Anniversary (= Rider Fee * Policy Value = 0.55% * $110,000)	$	605
Additional Death Benefit during 2nd Rider Year (= sum of total Rider Fees paid)	$	605
Rider Fee on second Rider Anniversary (= Rider Fee * Policy Value = 0.55% * $95,000)	$	522.50
Additional Death Benefit during 3rd Rider Year (= sum of total Rider Fees paid = $605 + $522.50)	$	1,127.50
Rider Benefit Base in 3rd Rider Year prior to Premium addition (= Account Value less premiums added since Rider Date = $115,000 – $0)	$	115,000
Rider Benefit Base in 3rd Rider Year after Premium addition (= $140,000 - $25,000)	$	115,000
Rider Benefit Base in 4th Rider Year prior to withdrawal (= Account Value less premiums added since Rider Date = $145,000 - $25,000)	$	120,000
Rider Benefit Base in 4th Rider Year after withdrawal = (Account Value less premiums added since Rider Date = $110,000 - $25,000)	$	85,000
Rider Benefit Base in 5th Rider Year (= $130,000 - $25,000)	$	105,000
Additional Death Benefit = Rider Benefit Percentage * Rider Benefit Base = 30% * $105,000	$	31,500
Total Death Proceeds in 5th Rider Year (= base policy Death Proceeds + Additional Death Benefit Amount = $145,000 + $31,500)	$	176,500

117

APPENDIX

GUARANTEED LIFETIME WITHDRAWAL BENEFIT COMPARISON TABLE

Important aspects of the Living Benefits Rider, the Retirement Income Choice^SM 1.2, the Retirement Income Choice^SM 1.4 or the Income Link^SM Rider. are summararized in the following chart.

Note: The the Living Benefits Rider, the Retirement Income Choice^SM 1.2, the Retirement Income Choice^SM 1.4 or the Income Link^SM Rider. and any additional options available under these riders, may vary for certain policies and may not be available for all policies; the Guaranteed Lifetime Withdrawal Benefit Riders may not be available in all states. You should consult with tax and financial professionals to determine which of these riders is appropriate for you.

Living Benefits Rider	Retirement Income ChoiceSM 1.2 Rider	Retirement Income ChoiceSM 1.4 Rider	Income LinkSM Rider
Benefit:	Benefit:	Benefit:	Benefit:
•   Provides:	•   Provides	•   Provides:	•   Provides:
(1) Guaranteed Minimum Accumulation Benefit (“GMAB”)—Ten years after you elect the rider (“guaranteed future value date”), your policy value will equal your guaranteed future value (calculated as described below). After that date, the guaranteed future value equals zero.	(1) Guaranteed Lifetime Withdrawal Benefit (“GLWB”)—i.e., a level of cash withdrawals (and payments from us, if necessary) regardless of the performance of the Designated Investment Option or the Open Allocation Option that you select.	(1) Guaranteed Lifetime Withdrawal Benefit (“GLWB”)—i.e., a level of cash withdrawals (and payments from us, if necessary) regardless of the performance of the Designated Investment choices that you select - if you invest in certain designated investment choices.	(1) Guaranteed Lifetime Withdrawal Benefit (“GLWB”)—i.e., a front-loaded, two tiered GLWB providing level of cash withdrawals (and payments from us, if necessary) regardless of the performance of the Designated Investment Option that you select.
(2) Guaranteed Minimum Withdrawal Benefit (“GMWB”)—a maximum annual withdrawal amount (calculated as described below) regardless of your policy value; we account for withdrawals you take under the rider by applying two different withdrawal guarantees, “principal back,” for withdrawals of up to 7% of your total withdrawal base, or “for life,” for withdrawals up to 5% of your total withdrawal base.	(2) Growth—On each of the first 10 rider anniversaries, we add an annual growth credit (5% of the withdrawal base immediately before the rider anniversary) to the withdrawal base if no withdrawals have occurred during the preceding rider year. (3) Automatic Step-Up—We will automatically step-up the withdrawal base on each rider anniversary. You can opt out of the automatic step-up if the automatic step-up would result in an increase in the rider fee percentage.	(2) Growth—On each of the first 10 rider anniversaries, we add an annual growth credit (5% of the withdrawal base immediately before the rider anniversary) to the withdrawal base if no withdrawals have occurred during the preceding rider year. (3) Automatic Step-Up—We will automatically step-up the withdrawal base on each rider anniversary. You can opt out of the automatic step-up if the automatic step-up would result in an increase in the rider fee percentage.	(2) Automatic Step-Up—We will automatically step-up the withdrawal base on each rider anniversary. You can opt out of the automatic step-up if the automatic step-up would result in an increase in the rider fee percentage.

118

Guaranteed Lifetime Withdrawal Benefit Comparison Table — (Continued)

Living Benefits Rider	Retirement Income ChoiceSM 1.2 Rider	Retirement Income ChoiceSM 1.4 Rider	Income LinkSM Rider
•   Upgrades:	•   Upgrades:	•   Upgrades:	•   Upgrades:
(1) Before the annuitant’s 86th birthday, you can upgrade the total withdrawal base (for GMWB) and the guaranteed future value (for GMAB) by sending us written notice. (2) If you upgrade, the current rider terminates and a new rider is issued (which may have a higher rider fee).	You may request by sending us written notice. If you upgrade, the current rider terminates and a new rider is issued (which may have a higher rider fee). If you have elected the joint life option under the rider, you cannot elect a manual upgrade if the annuitant or an annuitant’s spouse is 86 or older (unless state law requires a lower maximum age).	You may request by sending us written notice. If you upgrade, the current rider terminates and a new rider is issued (which may have a higher rider fee). If you have elected the joint life option under the rider, you cannot elect a manual upgrade if the annuitant or an annuitant’s spouse is 86 or older (unless state law requires a lower maximum age).	You may request by sending us written notice. If you upgrade, the current rider terminates and a new rider is issued (which may have a higher rider fee). If you have elected the joint life option under the rider, you cannot elect a manual upgrade if the annuitant or an annuitant’s spouse is 81 or older (unless state law requires a lower maximum age).

119

Guaranteed Lifetime Withdrawal Benefit Comparison Table — (Continued)

Living Benefits Rider	Retirement Income ChoiceSM 1.2 Rider	Retirement Income ChoiceSM 1.4 Rider	Income LinkSM Rider
	•   Additional Options:	•   Additional Options:	•   Additional Options:
	(1) Death Benefit Option—You may add an amount to the death benefit payable under the base policy.	(1) Death Benefit Option—You may add an amount to the death benefit payable under the base policy.	(1) Joint Life Option—You may elect to postpone termination of the rider until the later of the death of the annuitant or the death of the annuitant’s spouse. The annuitant’s spouse must be either a joint owner (along with the annuitant) or the sole primary beneficiary (without a joint owner).
	(2) Joint Life Option—You may elect to postpone termination of the rider until the later of the death of the annuitant or the death of the annuitant’s spouse. The annuitant’s spouse must be either a joint owner (along with the annuitant) or the sole primary beneficiary (without a joint owner).	(2) Joint Life Option—You may elect to postpone termination of the rider until the later of the death of the annuitant or the death of the annuitant’s spouse. The annuitant’s spouse must be either a joint owner (along with the annuitant) or the sole primary beneficiary (without a joint owner).
	(3) Income Enhancement Option—If the rider has been in effect for at least 12 months, then you may elect to have your withdrawal percentage double if either the annuitant or the annuitant’s spouse, if the joint life option is elected, is confined in a hospital or nursing facility because of a medical necessity, and has been so confined for an “elimination period” (i.e., 180 days within the last 365 days).	(3) Income Enhancement Option—If the rider has been in effect for at least 12 months, then you may elect to have your withdrawal percentage double if either the annuitant or the annuitant’s spouse, if the joint life option is elected, is confined in a hospital or nursing facility because of a medical necessity, and has been so confined for an “elimination period” (i.e., 180 days within the last 365 days).
	You cannot elect this option if the qualifying person(s) is/are already confined in a hospital or nursing facility when the rider is elected. In addition, the increase to the withdrawal percentage stops when the qualifying person(s) is/are no longer confined.	You cannot elect this option if the qualifying person(s) is/are already confined in a hospital or nursing facility when the rider is elected. In addition, the increase to the withdrawal percentage stops when the qualifying person(s) is/are no longer confined.
Availability:	Availability:	Availability:	Availability:
•      0 - 80 (unless state law requires a lower maximum issue age	•      Younger than age 86 (unless state law requires a lower maximum issue age)	•      Younger than age 86 (unless state law requires a lower maximum issue age)	•      Younger than age 81 (unless state law requires a lower maximum issue age)

120

Guaranteed Lifetime Withdrawal Benefit Comparison Table — (Continued)

Living Benefits Rider	Retirement Income ChoiceSM 1.2 Rider	Retirement Income ChoiceSM 1.4 Rider	Income LinkSM Rider
Charge:	Charges:	Charges:	Charges:
(1) 0.90% of total withdrawal base on each rider anniversary under the “principal back” withdrawal guarantee under the rider.	(1) for Base Benefit only—0.40% to 1.25% (single and joint life) of withdrawal base on each rider anniversary;	(1) for Base Benefit only—0.40% to 1.25% (single life and joint life) of withdrawal base on each rider anniversary;	(1) 0.90% (single life and joint life) of withdrawal base on each rider anniversary
	(2) Open Investment Option—1.10% (single life and joint life) of withdrawal base on each rider anniversary;	(2) with Death Benefit Option— 0.25% (single life) or 0.20% (joint life) of withdrawal base on each rider anniversary, in addition to the base benefit fee;
	(3) with Death Benefit Option—0.25% (single life) or 0.20% (joint life) of withdrawal base on each rider anniversary, in addition to the base benefit fee;	(3) with Income Enhancement Option—0.15% (single life) or 0.30% (joint life) of withdrawal base on each rider anniversary, in addition to the base benefit fee.
	(4) with Income Enhancement Option—0.15% (single life) or 0.30% (joint life) of withdrawal base on each rider anniversary, in addition to the base benefit fee.
Investment Restrictions:	Investment Restrictions:	Investment Restrictions:	Investment Restrictions:
•       Portfolio Allocation Method (“PAM”)—We monitor your policy value and, as we deem necessary to support the guarantees under the rider, may transfer amounts between investment options that we designate and the variable investment choices that you select.	•       Designated Investment option—You must allocate 100% of your policy value to one or more investment options that we designate. •     Open Investment option (“OA”) – We monitor your policy value and, as we deem necessary to support the guarantees under the rider, may transfer amounts between investment options that we designate and the variable investment choices that you select.	•       Designated Investment option—You must allocate 100% of your policy value to one or more investment options that we designate.	•       Designated Investment option—You must allocate 100% of your policy value to one or more investment options that we designate.

121

APPENDIX

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS

The following examples show the effect of withdrawals on the benefits under the Living Benefits Rider.

GUARANTEED MINIMUM ACCUMULATION BENEFIT

Gross partial withdrawals will reduce the guaranteed future value by an amount equal to the greater of:

1) the gross partial withdrawal amount; and

2) a pro rata amount, the result of (A / B) * C, where:

A is the amount of gross partial withdrawal;

B is the policy value immediately prior to the gross partial withdrawal; and

C is the guaranteed future value immediately prior to the gross partial withdrawal.

The following demonstrates, on a purely hypothetical basis, the effects of partial withdrawals under the guaranteed minimum accumulation benefit.

EXAMPLE 1:

Assumptions:

Policy value prior to withdrawal (“PV”) = $90,000

Guaranteed future value prior to withdrawal (“GFV”) = $100,000

Gross withdrawal amount (“WD”) = $10,000

Step One. What is the pro rata value of the amount withdrawn?

1. Formula is (WD / PV) * GFV = pro rata amount

2. ($10,000 / $90,000) * $100,000 = $11,111.11

Step Two. Which is larger, the $10,000 withdrawal or the $11,111.11 pro rata amount?

$11,111.11 pro rata amount

Step Three. After the withdrawal is taken, what will be new guaranteed future value?

$100,000 - $11,111.11 = $88,888.89

Result. If no more withdrawals are taken, the guaranteed future value on the 10th rider anniversary is $88,888.89.

122

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

EXAMPLE 2:

Assumptions:

PV = $120,000

GFV = $100,000

WD = $10,000

Step One. What is the pro rata value of the amount withdrawn?

1. Formula is (WD / PV) * GFV = pro rata amount

2. ($10,000 / $120,000) * $100,000 = $8,333.33

Step Two. Which is larger, the $10,000 withdrawal or the $8,333.33 pro rata amount?

$10,000 withdrawal

Step Three. After the withdrawal is taken, what will be new guaranteed future value?

$100,000 - $10,000 = $90,000

Result. If no more withdrawals are taken, the guaranteed future value on the 10th Rider Anniversary is $90,000.

GUARANTEED LIFETIME WITHDRAWAL BENEFIT

Total Withdrawal Base. Gross partial withdrawals up to the maximum annual withdrawal amount will not reduce the total withdrawal base. Gross partial withdrawals in excess of the maximum annual withdrawal amount will reduce the total withdrawal base by an amount equal to the greater of:

1) the excess gross partial withdrawal amount; and

2) a pro rata amount, the result of (A / B) * C, where:

A is the excess gross partial withdrawal (the amount in excess of the guaranteed annual withdrawal amount remaining prior to the withdrawal);

B is the policy value after the maximum annual withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount; and

C is the total withdrawal base prior to the withdrawal of the excess amount.

Minimum Remaining Withdrawal Amount. Gross partial withdrawals up to the maximum annual withdrawal amount will reduce the minimum remaining withdrawal amount by the same amount (dollar-for-dollar). Gross partial withdrawals in excess of the maximum annual withdrawal amount will reduce the minimum remaining withdrawal amount by an amount equal to the greater of:

1) the excess gross partial withdrawal amount; and

2) a pro rata amount, the result of (A / B) * C, where:

123

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

A is the excess gross partial withdrawal (the amount in excess of the guaranteed annual withdrawal amount remaining prior to the withdrawal);

B is the policy value after the maximum annual withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount; and

C is the minimum remaining withdrawal amount after the maximum annual withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount.

The following demonstrates, on a purely hypothetical basis, the effects of partial withdrawals under the guaranteed lifetime withdrawal benefit.

When a withdrawal is taken, three parts of the guaranteed lifetime withdrawal benefit can be affected:

1. Minimum remaining withdrawal amount (“MRWA”)

2. Total withdrawal base (“TWB”)

3. Maximum annual withdrawal amount (“MAWA”)

EXAMPLE 1 (7% “PRINCIPAL BACK”):

Assumptions:

TWB = $100,000

MRWA = $100,000

7% WD would be $7,000 (7% of the current $100,000 total withdrawal base)

WD = $7,000

Excess withdrawal (“EWD”) = None

PV = $100,000

You = Owner and Annuitant (Age 60)

Step One. Is any portion of the withdrawal greater than the “principal back” maximum annual withdrawal amount?

No. There is no excess withdrawal under the “principal back” guarantee if no more than $7,000 is withdrawn.

Step Two. What is the minimum remaining withdrawal amount after the withdrawal has been taken?

1. Total to deduct from the minimum remaining withdrawal amount is $7,000 (there is no excess to deduct)

2. $100,000 - $7,000 = $93,000.

Result. In this example, because no portion of the withdrawal was in excess of $7,000, the “principal back” total withdrawal base does not change and the “principal back” minimum remaining withdrawal amount is $93,000.00.

EXAMPLE 2 (7% “PRINCIPAL BACK”):

Assumptions:

TWB = $100,000

124

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

MRWA = $100,000

7% WD would be $7,000 (7% of the current $100,000 total withdrawal base)

WD = $8,000

EWD = $1,000 ($8,000 - $7,000)

PV = $90,000

You = Owner and Annuitant (Age 60)

Step One. Is any portion of the total withdrawal greater than the maximum annual withdrawal amount?

Yes. $8,000 - $7,000 = $1,000 (the excess withdrawal amount)

Step Two. Calculate how much of the “principal back” minimum remaining withdrawal amount is affected by the excess withdrawal.

1. Formula for pro rata amount is: (EWD / (PV - 7% WD)) * (MRWA - 7% WD)

2. ($1,000 / ($90,000 - $7,000)) * ($100,000 - $7,000) = $1,120.48

Step Three. Which is larger, the actual $1,000 excess withdrawal amount or the $1,120.48 pro rata amount?

$1,120.48 pro rata amount

Step Four. What is the “principal back” minimum remaining withdrawal amount after the withdrawal has been taken?

1. Total to deduct from the minimum remaining withdrawal amount is $7,000 + $1,120.48 (pro rata excess) = $8,120.48

2. $100,000 - $8,120.48 = $91,879.52

Result. The “principal back” minimum remaining withdrawal amount is $91,879.52.

NOTE. For the guaranteed lifetime withdrawal benefit, because there was an excess withdrawal amount, the total withdrawal base needs to be adjusted as well as a new lower maximum annual withdrawal amount. Had the withdrawal for this example not been more than $7,000, the “principal back” total withdrawal base would remain at $100,000 and the “principal back” maximum annual withdrawal amount would be $7,000. However, because an excess withdrawal has been taken, the total withdrawal base is also changed (this is the amount the 7% is based on).

New “principal back” total withdrawal base:

Step One. The total withdrawal base is only reduced by the excess withdrawal amount or the pro rata amount if greater.

Step Two. Calculate how much the total withdrawal base is affected by the excess withdrawal.

1. The formula is (EWD / (PV - 7% WD)) * TWB before any adjustments

2. ($1,000 / ($90,000 - $7,000)) * $100,000 = $1,204.82

125

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

Step Three. Which is larger, the actual $1,000 excess withdrawal amount or the $1,204.82 pro rata amount?

$1,204.82 pro rata amount.

Step Four. What is the new total withdrawal base upon which the maximum annual withdrawal amount is based?

$100,000 - $1,204.82 = $98,795.18

Result. The new “principal back” total withdrawal base is $98,795.18

New “principal back” maximum annual withdrawal amount:

Because the “principal back” total withdrawal base was adjusted (due to the excess withdrawal) we have to calculate a new maximum annual withdrawal amount for the 7% “principal back” guarantee that will be available starting on the next rider anniversary. This calculation assumes no more activity prior to the next rider anniversary.

Step One. What is the new “principal back” maximum annual withdrawal amount?

$98,795.18 (the adjusted total withdrawal base) * 7% = $6,915.66

Result. Going forward, the maximum you can take out in a rider year is $6,915.66 without causing an excess withdrawal for the “principal back” guarantee and further reduction of the “principal back” total withdrawal base.

EXAMPLE 3 (5% “FOR LIFE”):

Assumptions:

TWB = $100,000

MRWA = $100,000

5% WD would be $5,000 (5% of the current $100,000 total withdrawal base)

WD = $5,000

Excess withdrawal (“EWD”) = None

PV = $100,000

You = Owner and Annuitant (Age 60)

Step One. Is any portion of the withdrawal greater than the “for life” maximum annual withdrawal amount?

No. There is no excess withdrawal under the “for life” guarantee if no more than $5,000 is withdrawn.

Step Two. What is the minimum remaining withdrawal amount after the withdrawal has been taken?

1. Total to deduct from the minimum remaining withdrawal amount is $5,000 (there is no excess to deduct).

2. $100,000 - $5,000 = $95,000.

Result. In this example, because no portion of the withdrawal was in excess of $5,000, the “for life” total withdrawal base does not change and the “for life” minimum remaining withdrawal amount is $95,000.00.

126

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

EXAMPLE 4 (5% “FOR LIFE”):

Assumptions:

TWB = $100,000

MRWA = $100,000

5% WD would be $5,000 (5% of the current $100,000 total withdrawal base)

WD = $7,000

EWD = $2,000 ($7,000 - $5,000)

PV = $90,000

You = Owner and Annuitant (Age 60)

Step One. Is any portion of the total withdrawal greater than the maximum annual withdrawal amount?

Yes. $7,000 - $5,000 = $2,000 (the excess withdrawal amount)

Step Two. Calculate how much of the “for life” minimum remaining withdrawal amount is affected by the excess withdrawal.

1. Formula for pro rata amount is: (EWD / (PV - 5% WD)) * (MRWA - 5% WD)

2. ($2,000 / ($90,000 - $5,000)) * ($100,000 - $5,000) = $2,235.29

Step Three. Which is larger, the actual $2,000 excess withdrawal amount or the $2,235.29 pro rata amount?

$2,235.29 pro rata amount

Step Four. What is the “for life” minimum remaining withdrawal amount after the withdrawal has been taken?

1. Total to deduct from the minimum remaining withdrawal amount is $5,000 + $2,235.29 (pro rata excess) = $7,235.29

2. $100,000 - $7,235.29 = $92,764.71

Result. The “for life” minimum remaining withdrawal amount is $92,764.71.

NOTE. For the guaranteed lifetime withdrawal benefit, because there was an excess withdrawal amount, the total withdrawal base needs to be adjusted as well as a new lower maximum annual withdrawal amount. Had the withdrawal for this example not been more than $5,000, the “for life” total withdrawal base would remain at $100,000 and the “for life” maximum annual withdrawal amount would be $5,000. However, because an excess withdrawal has been taken, the total withdrawal base is also changed (this is the amount the 5% is based on).

New “for life” total withdrawal base:

Step One. The total withdrawal base is only reduced by the excess withdrawal amount or the pro rata amount if greater.

127

LIVING BENEFITS RIDER ADJUSTED PARTIAL WITHDRAWALS — (Continued)

Step Two. Calculate how much the total withdrawal base is affected by the excess withdrawal.

1. The formula is (EWD / (PV - 5% WD)) * TWB before any adjustments

2. ($2,000 / ($90,000 - $5,000)) * $100,000 = $2,352.94

Step Three. Which is larger, the actual $2,000 excess withdrawal amount or the $2,352.94 pro rata amount?

$2,352.94 pro rata amount.

Step Four. What is the new total withdrawal base upon which the maximum annual withdrawal amount is based?

$100,000 - $2,352.94 = $97,647.06

Result. The new “for life” total withdrawal base is $97,647.06

New “for life” maximum annual withdrawal amount:

Because the “for life” total withdrawal base was adjusted (due to the excess withdrawal) we have to calculate a new maximum annual withdrawal amount for the 5% “for life” guarantee that will be available starting on the next rider anniversary. This calculation assumes no more activity prior to the next rider anniversary.

Step One. What is the new “for life” maximum annual withdrawal amount?

$97,647.06 (the adjusted total withdrawal base) * 5% = $4,882.35

Result. Going forward, the maximum you can take out in a rider year is $4,882.35 without causing an excess withdrawal for the “for life” guarantee and further reduction of the “for life” total withdrawal base.

128

APPENDIX

GUARANTEED LIFETIME WITHDRAWAL BENEFIT

ADJUSTED PARTIAL SURRENDERS - RETIREMENT INCOME CHOICE^SM 1.2

RIDER AND RETIREMENT INCOME CHOICE^SM 1.4 RIDER

When a withdrawal is taken, three parts of the guaranteed lifetime withdrawal benefit can be affected:

1. Withdrawal Base (“WB”)

2. Rider Withdrawal Amount (“RWA”)

3. Rider Death Benefit (“RDB”)

Withdrawal Base. Gross partial withdrawals in a rider year up to the rider withdrawal amount will not reduce the withdrawal base. Gross partial withdrawals in a rider year in excess of the rider withdrawal amount will reduce the withdrawal base by an amount equal to the greater of:

1) the excess gross partial withdrawal amount; and

2) a pro rata amount, the result of (A / B) * C, where:

A is the excess gross partial withdrawal (the amount in excess of the guaranteed annual withdrawal amount remaining prior to the withdrawal);

B is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount; and

C is the withdrawal base prior to the withdrawal of the excess amount.

Rider Death Benefit. Gross partial withdrawals in a rider year up to the rider withdrawal amount will reduce the rider death benefit by the amount withdrawn (dollar-for-dollar). Gross partial withdrawals in a rider year in excess of the rider withdrawal amount will reduce the rider death benefit by an amount equal to the greater of:

1) the excess gross partial withdrawal amount; and

2) a pro rata amount, the result of (A / B) * C, where:

A is the excess gross partial withdrawal (the amount in excess of the guaranteed annual withdrawal amount remaining prior to the withdrawal);

B is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount; and

C is the rider death benefit after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess amount.

The following demonstrates, on a purely hypothetical basis, the effects of partial withdrawals under this guaranteed lifetime withdrawal benefit.

Example 1 (Base):

Assumptions:

Withdrawal Base (“WB”) = $100,000

129

Guaranteed Lifetime Withdrawal Benefit — (Continued)

Rider Withdrawal Amount (“RWA”) = 5% withdrawal would be $5,000 (5% of the current $100,000 withdrawal base)

Gross partial withdrawal (“GPWD”) = $5,000

Excess withdrawal (“EWD”) = None

Policy Value (“PV”) = $100,000

You = owner and annuitant, age 71 at time withdrawals begin, which means Withdrawal Percentage is 5%.

Question: Is any portion of the withdrawal greater than the rider withdrawal amount?

No. There is no excess withdrawal under the guarantee since no more than $5,000 is withdrawn.

Result. In this example, because no portion of the withdrawal was in excess of $5,000, the withdrawal base does not change.

Example 2 (Excess Withdrawal):

Assumptions:

WB = $100,000

RWA = 5% withdrawal would be $5,000 (5% of the current $100,000 withdrawal base)

GPWD = $7,000

EWD = $2,000 ($7,000 - $5,000)

PV = $90,000

You = owner and annuitant, age 71 at time withdrawals begin, which means Withdrawal Percentage is 5%.

Result. For the guaranteed lifetime withdrawal benefit, because there was an excess withdrawal amount, the withdrawal base needs to be adjusted and a new lower rider withdrawal amount calculated. Had the withdrawal for this example not been more than $5,000, the withdrawal base would remain at $100,000 and the rider withdrawal amount would be $5,000 starting on the next rider anniversary. However, because an excess withdrawal has been taken, the withdrawal base is also reduced (this is the amount the 5% is based on).

New withdrawal base:

Step One. The withdrawal base is reduced only by the amount of the excess withdrawal or the pro rata amount, if greater.

Step Two. Calculate how much the withdrawal base is affected by the excess withdrawal.

1. The formula is (EWD / (PV - 5% withdrawal)) * WB before any adjustments

2. ($2,000 / ($90,000 - $5,000)) * $100,000 = $2,353

Step Three. Which is larger, the actual $2,000 excess withdrawal or the $2,353 pro rata amount?

$2,353 pro rata amount.

130

Guaranteed Lifetime Withdrawal Benefit — (Continued)

Step Four. What is the new withdrawal base upon which the rider withdrawal amount is based? $100,000 - $2,353 = $97,647

Result. The new withdrawal base is $97,647

New rider withdrawal amount:

Because the withdrawal base was adjusted (due to the excess withdrawal) we have to calculate a new rider withdrawal amount for the 5% guarantee that will be available starting on the next rider anniversary. This calculation assumes no more activity prior to the next rider anniversary.

Question: What is the new rider withdrawal amount?

$97,647 (the adjusted withdrawal base) * 5% = $4,882

Result. Going forward, the maximum you can take out in a year without causing an excess withdrawal and further reduction of the withdrawal base (assuming there are no future automatic step-ups) is $4,882.

Example 3 (Base demonstrating growth):

Assumptions:

WB = $100,000

Automatic step-up never occurs and no withdrawals are taken in the first 10 rider years.

WB in 8 years (assuming an annual growth rate percentage of 5.0%) = $100,000 * (1 + .05) ^ 8 = $147,745

RWA = 5% withdrawal beginning 8 years from the rider date would be $7,387 (5% of the then-current $147,745 withdrawal base)

GPWD = $7,387

EWD = None

PV = $90,000 in 8 years

You (if you elected RIC) = owner and annuitant, age 63 on rider issue; age 71 at time withdrawals begin, which means Withdrawal Percentage is 5%.

You (if you elected RIC 1.2 or RIC 1.4) = owner and annuitant, age 68 on rider issue; age 76 at time withdrawals begin, which means Withdrawal Percentage is 5%

Question: Is any portion of the withdrawal greater than the rider withdrawal amount?

No. There is no excess withdrawal under the guarantee if no more than $7,387 is withdrawn in a rider year.

Result. In this example, because no portion of the withdrawal was in excess of $7,387, the withdrawal base does not change.

131

Guaranteed Lifetime Withdrawal Benefit — (Continued)

Example 4 (Base demonstrating WB growth with Additional Death Payment Option):

Assumptions:

You (if you elected RIC) = owner and annuitant, age 63 on rider issue; age 71 at time withdrawals begin, which means Withdrawal Percentage is 5%.

You (if you elected RIC 1.2 or RIC 1.4) = owner and annuitant, age 68 on rider issue; age 76 at time withdrawals begin, which means Withdrawal Percentage is 5%

WB at rider issue = $100,000 Automatic step-up never occurs and no withdrawals are taken in the first 10 rider years.

WB in 8 years (assuming an annual growth rate percentage of 5.0%) = $100,000 * (1 + .05) ^ 8 = $147,745

Rider Death Benefit (“RDB”) (optional additional death benefit for additional cost) = $100,000

RWA = 5% withdrawal beginning 8 years from the rider date would be $7,387 (5% of the then-current $147,745 withdrawal base)

GPWD = $7,387

EWD = None

PV = $90,000 in 8 years

Step One. Is any portion of the withdrawal greater than the rider withdrawal amount?

No. There is no excess withdrawal under the guarantee if no more than $7,387 is withdrawn.

Step Two. What is the rider death benefit after the withdrawal has been taken?

1. Total to deduct from the rider death benefit is $7,387 (there is no excess to deduct)

2. $100,000 - $7,387 = $92,613.

Result. In this example, because no portion of the withdrawal was in excess of $7,387, the total withdrawal base does not change and the rider death benefit reduces to $92,613.

Example 5 (Base with WB growth with Additional Death Payment Option illustrating excess withdrawal):

Assumptions:

You = owner and annuitant, age 61 on rider issue; age 74 at time withdrawals begin, which means withdrawal percentage is 5%.

WB at rider issue = $100,000

Automatic step-up never occurs and no withdrawals are taken in the first 10 rider years.

WB in 10 years (assuming an annual growth rate percentage of 5.0%) = the greater of $100,000 * (1 + .05) ^ 10 = $162,889.

RDB (optional additional death benefit for additional cost) = $100,000

RWA = 5% withdrawal beginning 10 years from the rider date would be $8,144 (5% of the then-current $162,889 withdrawal base)

GPWD = $15,000

EWD = $6,856 ($15,000 - $8,144)

132

Guaranteed Lifetime Withdrawal Benefit — (Continued)

PV = $90,000 in 10 years

Step One. Is any portion of the total withdrawal greater than the rider withdrawal amount?

Yes. $15,000 - $8,144 = $6,856 (the excess withdrawal amount)

Step Two. Calculate how much of the rider death benefit is affected by the excess withdrawal.

1. Formula for pro rata amount is: (EWD / (PV - 5% withdrawal)) * (RDB - 5% withdrawal)

2. ($6,856 / ($90,000 - $8,144)) * ($100,000 - $8,144) = $7,694

Step Three. Which is larger, the actual $6,856 excess withdrawal amount or the $7,694 pro rata amount?

$7,694 pro rata amount.

Step Four. What is the rider death benefit after the withdrawal has been taken?

1. Total to deduct from the rider death benefit is $8,144 (RWA) + $7,694 (pro rata excess) = $15,838

2. $100,000 - $15,838 = $84,162.

Result. The rider benefit is $84,162.

Note: Because there was an excess withdrawal amount in this example, the withdrawal base needs to be adjusted and a new lower rider withdrawal amount calculated. Had the withdrawal for this example not been more than $8,144, the withdrawal base would remain at $162,889 and the rider withdrawal amount would be $8,144. However, because an excess withdrawal has been taken, the withdrawal base is also reduced.

New benefit base:

Step One. The withdrawal base is reduced only by the amount of the excess withdrawal or the pro rata amount if greater.

Step Two. Calculate how much the withdrawal base is affected by the excess withdrawal.

1. The formula is (EWD/(PV - 5% withdrawal)) * WB before any adjustments

2. ($6,856 / ($90,000 - $8,144)) * $162,889 = $13,643

Step Three. Which is larger, the actual $6,856 excess withdrawal amount or the $13,643 pro rata amount?

$13,643 pro rata amount.

Step Four. What is the new withdrawalt base upon which the rider withdrawal amount is based?

$162,889 - $13,643 = $149,246

Result. The new benefit base is $149,246

133

Guaranteed Lifetime Withdrawal Benefit — (Continued)

New rider withdrawal amount:

Because the withdrawal base was adjusted (due to the excess withdrawal) we have to calculate a new rider withdrawal amount for the 5% benefit percentage guarantee that will be available starting on the next rider anniversary. This calculation assumes no more activity prior to the next rider anniversary.

Step One. What is the new rider withdrawal amount?

$149,246 (the adjusted withdrawal base) * 5% = $7,462

Result. Going forward, the maximum you can take out in a year without causing an excess withdrawal and further reduction of the benefit base is $7,462.

134

APPENDIX

GUARANTEED LIFETIME WITHDRAWAL BENEFIT

ADJUSTED PARTIAL SURRENDERS - INCOME LINK^SM RIDER

When a withdrawal is taken, three parts of the guaranteed lifetime withdrawal benefit can be affected:

1. Withdrawal Base (“WB”)

2. Rider Withdrawal Amount (“RWA”)

3. Income Link^SM Rider Systematic Withdrawals (“ILSW”)

Withdrawal Base. Income Link^SM rider systematic withdrawals (and certain minimum required distributions) will not reduce the withdrawal base. Non-Income Link^SM rider systematic withdrawals (and minimum required distributions calculated other than as provided for in the rider or not taken via a systematic withdrawal program) will reduce the withdrawal base by an amount equal to the greater of:

1) the amount of the non-Income Link^SM rider systematic withdrawal (or non-qualifying minimum required distribution); and

2) a pro rata amount, the result of (A / B) * C, where:

A is the amount in 1 above;

B is the policy value prior to the withdrawal; and

C is the withdrawal base prior to the withdrawal.

The following demonstrates, on a purely hypothetical basis, the effects of partial withdrawals under this guaranteed lifetime withdrawal benefit.

Assumptions:

WB = $100,000

RWA = 6% withdrawal would be $6,000 (6% of the current $100,000 withdrawal base)

ILSW = $500 per month

Non-ILSW = $10,000 (taken after the eighteenth monthly Income Link^SM rider systematic withdrawal)

PV = $90,000

Assumes single life withdrawal option of 6% for 6 years and 4% thereafter has been elected. Non-Income Link^SM rider systematic withdrawal occurs during the second Income Link^SM rider withdrawal year (which means the withdrawal percentage is 6%).

Result. For the guaranteed lifetime withdrawal benefit, because there was a non-Income Link ^SM rider systematic withdrawal, the withdrawal base needs to be adjusted and a new lower rider withdrawal and Income Link^SM rider systematic withdrawal amount calculated.

New withdrawal base:

Step One. The withdrawal base is reduced only by the amount of the amount of the non-Income Link^SM rider systematic withdrawal or the pro rata amount, if greater.

135

Guaranteed Lifetime Withdrawal Benefit — (Continued)

Step Two. Calculate how much the withdrawal base is affected by the non-Income Link^SM rider systematic withdrawal.

1. The formula is (Non-ILSW / (PV before withdrawal)) * WB before any adjustments

2. ($10,000 / ($90,000)) * $100,000 = $11,111

Step Three. Which is larger, the actual $10,000 non-Income Link^SM rider systematic withdrawal or the $11,111 pro rata amount?

$11,111 pro rata amount.

Step Four. What is the new withdrawal base upon which the rider withdrawal amount is based?

$100,000 - $11,111 = $88,889

Result. The new withdrawal base is $88,889. Please note the percentage reduction in the withdrawal base is used in calculating the revised RWA and ILSW.

New rider withdrawal amount:

Because the withdrawal base was adjusted (due to the non-Income Link^SM rider systematic withdrawal) we have to calculate a new (remaining) rider withdrawal amount. This calculation assumes no more non-Income Link^SM rider systematic withdrawal activity prior to the next Income Link^SM rider withdrawal year.

Question: What is the new (remaining) rider withdrawal amount for the remainder of the Income Link^SM rider withdrawal year?

$3,000 (the remaining rider withdrawal amount) - ($3000*11.11%) = $2,667

Result. Going forward, the maximum you can take out in a benefit year without causing an excess withdrawal and further reduction of the withdrawal base (assuming there are no future automatic step-ups) is $4,882.

New Income Link^SM rider systematic withdrawal amount:

Because the withdrawal base was adjusted (due to the non-Income Link^SM rider systematic withdrawal) we have to calculate a new Income Link^SM rider systematic withdrawal amount. This calculation assumes no more non-Income Link^SM rider systematic withdrawal activity prior to the next Income Link^SM rider withdrawal year.

Question: What is the new Income Link^SM rider systematic withdrawal amount?

$500 (the old Income Link^SM rider systematic withdrawal amount) - ($500*11.11%) = $444

Result. Going forward (until the seventh Income Link^SM rider withdrawal year), the Income Link^SM rider systematic withdrawal amount (assuming there are no future automatic step-ups) is $444

136

TRANSAMERICA FREEDOM VARIABLE ANNUITY

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

Supplement Dated May 1, 2010

to the

Prospectus dated May 1, 2010

Some selling firms discourage their clients from purchasing certain optional benefits based solely on the client's age. You should work with your registered representative to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance.

This Prospectus Supplement must be accompanied or preceded

by the Prospectus for the

Transamerica Freedom Variable Annuity dated May 1, 2010

TRANSAMERICA FREEDOM VARIABLE ANNUITY

Issued by

TRANSAMERICA LIFE INSURANCE COMPANY

Supplement Dated May 1, 2010

to the

Prospectus dated May 1, 2010

We will not accept any premium payment that is allocated to the fixed account or the dollar cost averaging fixed account in excess of $5,000. We also will not accept any premium payment or transfer which would result in the aggregate policy value in the fixed account and the dollar cost averaging fixed account exceeding $5,000.

This Prospectus Supplement must be accompanied or preceded

by the Prospectus for the

Transamerica Freedom Variable Annuity dated May 1, 2010

STATEMENT OF ADDITIONAL INFORMATION

TRANSAMERICA FREEDOM VARIABLE ANNUITY

Issued through

SEPARATE ACCOUNT VA B

Offered by

TRANSAMERICA LIFE INSURANCE COMPANY

This Statement of Additional Information expands upon subjects discussed in the current prospectus for the Transamerica Freedom Variable Annuity offered by Transamerica Life Insurance Company. You may obtain a copy of the current prospectus, dated May 1, 2010, by calling (800) 525-6205, or write us at: Transamerica Life Insurance Company, Attention: Customer Care Group, 4333 Edgewood Road NE, Cedar Rapids, IA 52499-0001. The prospectus sets forth information that a prospective investor should know before investing in a policy. Terms used in the current prospectus for the policy are incorporated in this Statement of Additional Information.

This Statement of Additional Information (SAI) is not a prospectus and should be read only in conjunction with the prospectuses for the policy and the underlying fund portfolios.

Dated: May 1, 2010

TABLE OF CONTENTS

GLOSSARY OF TERMS	3
THE POLICY — GENERAL PROVISIONS	6
Owner	6
Entire Policy	6
Misstatement of Age or Sex	7
Reallocation of Annuity Units After the Annuity Commencement Date	7
Annuity Payment Options	7
Death Benefit	8
Death of Owner	9
Assignment	9
Evidence of Survival	9
Non-Participating	9
Amendments	9
Employee and Agent Purchases	10
Present Value of Future Variable Payments	10
Stabilized Payments	10
CERTAIN FEDERAL INCOME TAX CONSEQUENCES	11
Tax Status of the Policy	11
Taxation of Annuities	12
Taxation of the Company	15
INVESTMENT EXPERIENCE	15
Accumulation Units	16
Annuity Unit Value and Annuity Payment Rates	17
HISTORICAL PERFORMANCE DATA	20
Money Market Yields	20
Total Returns	21
Other Performance Data	21
Adjusted Historical Performance Data	21
PUBLISHED RATINGS	22
STATE REGULATION OF TRANSAMERICA LIFE INSURANCE COMPANY	22
ADMINISTRATION	22
RECORDS AND REPORTS	22
DISTRIBUTION OF THE POLICIES	23
VOTING RIGHTS	23
OTHER PRODUCTS	24
CUSTODY OF ASSETS	24
LEGAL MATTERS	24
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	25
OTHER INFORMATION	25
FINANCIAL STATEMENTS	25
APPENDIX
CONDENSED FINANCIAL INFORMATION	26
APPENDIX
OA METHOD TRANSFERS	87

2

GLOSSARY OF TERMS

Accumulation Unit — An accounting unit of measure used in calculating the policy value in the separate account before the annuity commencement date.

Adjusted Policy Value — The policy value increased or decreased by any excess interest adjustment.

Administrative and Service Office — Transamerica Life Insurance Company, Attention: Customer Care Group, 4333 Edgewood Road NE, Cedar Rapids, IA 52499-0001, (800) 525-6205.

Annuitant — The person on whose life any annuity payments involving life contingencies will be based.

Annuity Commencement Date — The date upon which annuity payments are to commence. This date may be any date after the policy date and may not be later than the last day of the policy month following the month after the annuitant attains age 95. The earliest annuity commencement date is at least thirty days after you purchase your policy. The annuity commencement date may have to be earlier for qualified policies and may be earlier if required by state law.

Annuity Payment Option — A method of receiving a stream of annuity payments selected by the owner.

Annuity Unit — An accounting unit of measure used in the calculation of the amount of the second and each subsequent variable annuity payment.

Assumed Investment Return or AIR — The annual effective rate shown in the contract specifications section of the contract that is used in the calculation of each variable annuity payment.

Beneficiary — The person who has the right to the death benefit as set forth in the policy.

Business Day — A day when the New York Stock Exchange is open for regular trading.

Cash Value — The adjusted policy value less any rider fees (imposed upon surrender).

Code — The Internal Revenue Code of 1986, as amended.

Enrollment form — A written application, order form, or any other information received electronically or otherwise upon which the policy is issued and/or is reflected on the data or specifications page.

Excess Interest Adjustment — A positive or negative adjustment to amounts surrendered (both partial or full surrenders and transfers) or applied to annuity payment options from the fixed account guaranteed period options prior to the end of the guaranteed period. The adjustment reflects changes in the interest rates declared by the Company since the date any payment was received by, or an amount was transferred to, the guaranteed period option. The excess interest adjustment can either decrease or increase the amount to be received by the owner upon full surrender or commencement of annuity payments, depending upon whether there has been an increase or decrease in interest rates, respectively.

Fixed Account — One or more investment choices under the policy that are part of the Company’s general assets and are not in the separate account.

3

Free Amount — The amount that can be withdrawn each year without incurring any excess interest adjustment.

Guaranteed Lifetime Withdrawal Benefit — Any optional benefit under the policy that provides a guaranteed minimum withdrawal benefit, including the Living Benefits Rider, the Retirement Income Choice^SM 1.2, the Retirement Income Choice^SM 1.4 or the Income Link^SM Rider.

Guaranteed Period Options — The various guaranteed interest rate periods of the fixed account which the Company may offer and into which premium payments may be paid or amounts transferred.

Nonqualified Policy — A policy other than a qualified policy.

Owner (You, Your) — The person who may exercise all rights and privileges under the policy. The owner during the lifetime of the annuitant and prior to the annuity commencement date is the person designated as the owner in the information provided to us to issue a policy.

Policy Date — The date shown on the policy data page attached to the policy and the date on which the policy becomes effective.

Policy Value — On or before the annuity commencement date, the policy value is equal to the owner’s:

• premium payments; minus

• gross partial surrenders (partial surrenders minus excess interest adjustments); plus

• interest credited in the fixed account; plus

• accumulated gains in the separate account; minus

• accumulated losses in the separate account; minus

• service charges, rider fees, premium taxes, transfer fees, and other charges, if any.

Policy Year — A policy year begins on the policy date and on each anniversary thereof.

Premium Payment — An amount paid to the Company by the owner or on the owner’s behalf as consideration for the benefits provided by the policy.

Qualified Policy — A policy issued in connection with retirement plans that qualify for special federal income tax treatment under the Code.

Separate Account — Separate Account VA B, a separate account established and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the “1940 Act”), to which premium payments under the policies may be allocated.

Separate Account Value — The portion of the policy value that is invested in the separate account.

Service Charge — An annual charge on each policy anniversary (and a charge at the time of surrender during any policy year) for policy maintenance and related administrative expenses. This annual charge is $35, but will not exceed 2% of the policy value.

Subaccount — A subdivision within the separate account, the assets of which are invested in a specified underlying fund portfolios.

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Supportable Payment — The amount equal to the sum of the variable annuity unit values multiplied by the number of variable annuity units in each of the selected subaccounts.

Valuation Period — The period of time from one determination of accumulation unit values and annuity unit values to the next subsequent determination of values. Such determination shall be made on each business day.

Variable Annuity Payments — Payments made pursuant to an annuity payment option which fluctuate as to dollar amount or payment term in relation to the investment performance of the specified subaccounts within the separate account.

Written Notice — Written notice, signed by the owner, that gives the Company the information it requires and is received at the administrative and service office. For some transactions, the Company may accept an electronic notice, such as telephone instructions, instead of written notice. Such written or electronic notice must meet the requirements the Company establishes for such notices.

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In order to supplement the description in the prospectus, the following provides additional information about Transamerica Life Insurance Company (the Company, we, us or our) and the policy, which may be of interest to a prospective purchaser.

THE POLICY — GENERAL PROVISIONS

Owner

The policy shall belong to the owner upon issuance of the policy after completion of an enrollment form and delivery of the initial premium payment. While the annuitant is living, the owner may: (1) assign the policy; (2) surrender the policy; (3) amend or modify the policy with the Company’s consent; (4) receive annuity payments or name a payee to receive the payments; and (5) exercise, receive and enjoy every other right and benefit contained in the policy. The exercise of these rights may be subject to the consent of any assignee or irrevocable beneficiary; and of your spouse in a community or marital property state.

Unless the Company has been notified of a community or marital property interest in the policy, it will rely on its good faith belief that no such interest exists and will assume no responsibility for inquiry.

Note carefully. If the owner predeceases the annuitant and no joint owner, primary beneficiary, or contingent beneficiary is alive or in existence on the date of death, the owner’s estate will become the new owner. If no probate estate is opened because the owner has precluded the opening of a probate estate by means of a trust or other instrument, that trust may not exercise ownership rights to the policy. It may be necessary to open a probate estate in order to exercise ownership rights to the policy.

The owner may change the ownership of the policy in a written notice. When this change takes effect, all rights of ownership in the policy will pass to the new owner. A change of ownership may have tax consequences.

When there is a change of owner, the change will not be effective until it is recorded in our records. Once recorded, it will take effect as of the date the owner signs the written notice, subject to any payment the Company has made or action the Company has taken before recording the change. Changing the owner does not change the designation of the beneficiary or the annuitant.

If ownership is transferred to a new owner (except to the owner’s spouse) because the owner dies before the annuitant, then (a) the cash value generally must be distributed to the new owner within five years of the owner’s death, or (b) annuity payments must be made for a period certain or for the new owner’s lifetime so long as any period certain does not exceed that new owner’s life expectancy, if the first payment begins within one year of your death.

Entire Policy

The policy, any endorsements or riders thereon, the enrollment form, or information provided in lieu thereof, constitute the entire contract between the Company and the owner. All statements in the enrollment form are representations and not warranties. No statement will cause the policy to be void or to be used in defense of a claim unless contained in the enrollment form or information provided in lieu thereof.

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Misstatement of Age or Sex

If the age or sex of the annuitant or owner has been misstated, the Company will change the annuity benefit payable to that which the premium payments would have purchased for the correct age or sex. The dollar amount of any underpayment made by the Company shall be paid in full with the next payment due such person or the beneficiary. The dollar amount of any overpayment made by the Company due to any misstatement shall be deducted from payments subsequently accruing to such person or beneficiary. Any underpayment or overpayment will include interest at 5% per year, from the date of the wrong payment to the date of the adjustment. The age of the annuitant or owner may be established at any time by the submission of proof satisfactory to the Company.

Reallocation of Annuity Units After the Annuity Commencement Date

After the annuity commencement date, you may reallocate the value of a designated number of annuity units of a subaccount then credited to a policy into an equal value of annuity units of one or more other subaccounts or the fixed account. The reallocation shall be based on the relative value of the annuity units of the account(s) or subaccount(s) at the end of the business day on the next payment date. The minimum amount which may be reallocated is the lesser of (1) $10 of monthly income or (2) the entire monthly income of the annuity units in the account or subaccount from which the transfer is being made. If the monthly income of the annuity units remaining in an account or subaccount after a reallocation is less than $10, the Company reserves the right to include the value of those annuity units as part of the transfer. The request must be in writing to the Company’s administrative and service office. There is no charge assessed in connection with such reallocation. A reallocation of annuity units may be made up to four times in any given policy year.

After the annuity commencement date, no transfers may be made from the fixed account to the separate account.

Annuity Payment Options

Note: Portions of the following discussion do not apply to annuity payments under the Initial Payment Guarantee. See the “Stabilized Payments” section of this SAI.

During the lifetime of the annuitant and before the annuity commencement date, the owner may choose an annuity payment option or change the election, but notice of any election or change of election must be received by the Company in good order at its Administrative and Service Office at least thirty (30) days before the annuity commencement date (elections less than 30 days require prior approval). If no election is made before the annuity commencement date, annuity payments will be made under (1) life income with level (fixed) payments for 10 years certain, using the existing policy value of the fixed account, or (2) life income with variable payments for 10 years certain using the existing policy value of the separate account, or (3) a combination of (1) and (2).

The person who elects an annuity payment option can also name one or more successor payees to receive any unpaid amount the Company has at the death of a payee. Naming these payees cancels any prior choice of a successor payee.

A payee who did not elect the annuity payment option does not have the right to advance or assign payments, take the payments in one sum, or make any other change. However, the payee may be given the right to do one or more of these things if the person who elects the option tells the Company in writing and the Company agrees.

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Variable Payment Options. The dollar amount of the first variable annuity payment will be determined in accordance with the annuity payment rates set forth in the applicable table contained in the policy. For annuity payments the tables are based on a 5% effective annual Assumed Investment Return and the “2000 Table”, using an assumed annuity commencement date of 2005 (static projection to this point) with dynamic projection using scale G from that point (100% of G for male, 50% of G for females). The dollar amount of additional variable annuity payments will vary based on the investment performance of the subaccount(s) of the separate account selected by the annuitant or beneficiary.

Determination of the First Variable Payment. The amount of the first variable payment depends upon the sex (if consideration of sex is allowed under state law) and adjusted age of the annuitant. For regular annuity payments, the adjusted age is the annuitant’s actual age nearest birthday, on the annuity commencement date, adjusted as described in your policy. This adjustment assumes an increase in life expectancy, and therefore it results in lower payments than without such an adjustment.

Determination of Additional Variable Payments. All variable annuity payments other than the first are calculated using annuity units which are credited to the policy. The number of annuity units to be credited in respect of a particular subaccount is determined by dividing that portion of the first variable annuity payment attributable to that subaccount by the annuity unit value of that subaccount on the annuity commencement date. The number of annuity units of each particular subaccount credited to the policy then remains fixed, assuming no transfers to or from that subaccount occur. The dollar value of variable annuity units in the chosen subaccount will increase or decrease reflecting the investment experience of the chosen subaccount. The dollar amount of each variable annuity payment after the first may increase, decrease or remain constant. This amount is equal to the sum of the amounts determined by multiplying the number of annuity units of each particular subaccount credited to the policy by the annuity unit value for the particular subaccount on the date the payment is made.

Death Benefit

Due proof of death of the annuitant is proof that the annuitant died prior to the commencement of annuity payments. A certified copy of a death certificate, a certified copy of a decree of a court of competent jurisdiction as to the finding of death, a written statement by the attending physician, or any other proof satisfactory to the Company will constitute due proof of death.

Upon receipt in good order (at our Administrative and Service Office) of this proof and an election of a method of settlement and return of the policy, the death benefit generally will be paid within seven days, or as soon thereafter as the Company has sufficient information about the beneficiary(ies) to make the payment. The beneficiary may receive the amount payable in a lump sum cash benefit, or, subject to any limitation under any state or federal law, rule, or regulation, under one of the annuity payment options described above, unless a settlement agreement is effective at the death of the owner preventing such election.

If an owner is not an annuitant, and dies prior to the annuity commencement date, the new owner may surrender the policy at any time for the amount of the policy value. If the new owner is not the deceased owner’s spouse, however, (1) the policy value must be distributed within five years after the date of the deceased owner’s death, or (2) payments under an annuity payment option must begin no later than one year after the deceased owner’s death and must be made for the new owner’s lifetime or for a period certain (so long as any period certain does not exceed the new owner’s life expectancy). If the sole new owner is the deceased owner’s surviving spouse, such spouse may elect to continue the policy as the new owner instead of receiving the death benefit.

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Beneficiary. The beneficiary designation in the enrollment form will remain in effect until changed. The owner may change the designated beneficiary by sending written notice to the Company. The beneficiary’s consent to such change is not required unless the beneficiary was irrevocably designated or law requires consent. (If an irrevocable beneficiary dies, the owner may then designate a new beneficiary.) The change will take effect as of the date the owner signs the written notice, whether or not the owner is living when the notice is received by the Company. The Company will not be liable for any payment made before the written notice is received. If more than one beneficiary is designated, and the owner fails to specify their interests, they will share equally. If upon the death of the annuitant there is a surviving owner(s), the surviving owner(s) automatically takes the place of any beneficiary designation.

Death of Owner

Federal tax law requires that if any owner (including any joint owner who has become a current owner) dies before the annuity commencement date, then the entire value of the policy must generally be distributed within five years of the date of death of such owner. Certain rules apply where (1) the spouse of the deceased owner is the sole beneficiary, (2) the owner is not a natural person and the primary annuitant dies or is changed, or (3) any owner dies after the annuity commencement date. See “Certain Federal Income Tax Consequences” for more information about these rules. Other rules may apply to qualified policies.

Assignment

During the lifetime of the annuitant you may assign any rights or benefits provided by the policy if your policy is a nonqualified policy. An assignment will not be binding on the Company until a copy has been filed at its administrative and service office. Your rights and benefits and those of the beneficiary are subject to the rights of the assignee. The Company assumes no responsibility for the validity or effect of any assignment. Any claim made under an assignment shall be subject to proof of interest and the extent of the assignment. An assignment may have tax consequences.

Unless you so direct by filing written notice with the Company, no beneficiary may assign any payments under the policy before they are due. To the extent permitted by law, no payments will be subject to the claims of any beneficiary’s creditors.

Ownership under qualified policies is restricted to comply with the Code.

Evidence of Survival

The Company reserves the right to require satisfactory evidence that a person is alive if a payment is based on that person being alive. No payment will be made until the Company receives such evidence.

Non-Participating

The policy will not share in the Company’s surplus earnings; no dividends will be paid.

Amendments

No change in the policy is valid unless made in writing by the Company and approved by one of the Company’s officers. No registered representative has authority to change or waive any provision of the policy.

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The Company reserves the right to amend the policies to meet the requirements of the Code, regulations or published rulings. You can refuse such a change by giving written notice, but a refusal may result in adverse tax consequences.

Employee and Agent Purchases

The policy may be acquired by an employee or registered representative of any broker/dealer authorized to sell the policy or their immediate family, or by an officer, director, trustee or bona-fide full-time employee of the Company or its affiliated companies or their immediate family. In such a case, the Company in its discretion, may credit an amount equal to a percentage of each premium payment to the policy due to lower acquisition costs the Company experiences on those purchases. The Company may offer certain employer sponsored savings plans, reduced fees and charges including, but not limited to, the annual service charge, the surrender charges, the mortality and expense risk fee and the administrative charge for certain sales under circumstances which may result in savings of certain costs and expenses. In addition, there may be other circumstances of which the Company is not presently aware which could result in reduced sales or distribution expenses. Credits to the policy or reductions in these fees and charges will not be unfairly discriminatory against any owner.

Present Value of Future Variable Payments

The present value of future period certain variable payments is calculated by taking (a) the supportable payment on the business day we receive the surrender request (in good order at our Administrative and Service Office), multiplied by (b) the number of payments remaining, multiplied by a discount rate (such as the assumed investment rate or “AIR”).

Stabilized Payments

If you have selected a payout feature that provides for stabilized payments (e.g., the Initial Payment Guarantee), please note that the stabilized payments remain level throughout each year and are adjusted on your annuitization anniversary. Without stabilized payments, each payment throughout the year would fluctuate based on the performance of your selected subaccounts. To reflect the difference in these payments we adjust (both increase and decrease as appropriate) the number of annuity units. The annuity units are adjusted when we calculate the supportable payment. Supportable payments are used in the calculation of surrender values, death benefits and transfers. On the anniversary of your annuity commencement date we set the new stabilized payment equal to the current supportable payment. In the case of an increase in the number of variable annuity units, your participation in the future investment performance of the subaccounts will be increased because more variable annuity units are credited to you. Conversely, in the case of a reduction of the number of variable annuity units, your participation in the future investment performance of the subaccounts will be decreased because fewer variable annuity units are credited to you. If the Initial Payment Guarantee is chosen, then the stabilized variable annuity payment will equal the greater of the guaranteed payment or the supportable payment at that time.

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The following table demonstrates, on a purely hypothetical basis, the changes in the number of variable annuity units. The changes in the variable annuity unit values reflect the investment performance of the applicable subaccounts as well as the separate account charge.

Hypothetical Changes in Annuity Units with Stabilized Payments*

Assumed Investment Rate	5.0%
Life & 10 Year Certain
Male aged 65
First Variable Payment	$500

		Beginning Annuity Units	Annuity Unit Values	Monthly Payment Without Stabilization		Monthly Stabilized Payment		Adjustments In Annuity Units		Cumulative Adjusted Annuity Units
At Issue:	January 1	400.0000	1.250000	$	500.00	$	500.00	0.0000		400.0000
	February 1	400.0000	1.252005	$	500.80	$	500.00	0.0041		400.0041
	March 1	400.0000	1.252915	$	501.17	$	500.00	0.0059		400.0100
	April 1	400.0000	1.245595	$	498.24	$	500.00	(0.0089	)	400.0011
	May 1	400.0000	1.244616	$	497.85	$	500.00	(0.0108	)	399.9903
	June 1	400.0000	1.239469	$	495.79	$	500.00	(0.0212	)	399.9691
	July 1	400.0000	1.244217	$	497.69	$	500.00	(0.0115	)	399.9576
	August 1	400.0000	1.237483	$	494.99	$	500.00	(0.0249	)	399.9327
	September 1	400.0000	1.242382	$	496.95	$	500.00	(0.0150	)	399.9177
	October 1	400.0000	1.242382	$	496.95	$	500.00	(0.0149	)	399.9027
	November 1	400.0000	1.249210	$	499.68	$	500.00	(0.0016	)	399.9012
	December 1	400.0000	1.252106	$	500.84	$	500.00	0.0040		399.9052
	January 1	399.9052	1.255106	$	501.92	$	501.92	0.0000		399.9052

* The total separate account expenses and portfolio expenses included in the calculations are 2.25% (2.25% is a hypothetical figure). If higher (or lower) expenses were charged, the numbers would be lower (or higher).

CERTAIN FEDERAL INCOME TAX CONSEQUENCES

The following summary does not constitute tax advice. It is a general discussion of certain of the expected federal income tax consequences of investment in and distributions with respect to a policy, based on the Code, Regulations thereunder, judicial authority, and current administrative rulings and practice. This summary discusses only certain federal income tax consequences to “United States Persons,” and does not discuss state, local, or foreign tax consequences. United States Persons means citizens or residents of the United States, domestic corporations, domestic partnerships and trusts, or estates that are subject to United States federal income tax regardless of the source of their income.

Tax Status of the Policy

Diversification Requirements. Section 817(h) of the Code provides that in order for a non-qualified variable contract which is based on a segregated asset account to qualify as an annuity contract under the Code, the investments made by

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such account must be “adequately diversified” in accordance with Treasury Regulations. The Regulations issued under Section 817(h) (Treas. Reg. Section 1.817 -5) apply a diversification requirement to each of the subaccounts. The separate account, through its underlying fund portfolios and their portfolios, intends to comply with the diversification requirements of the Regulations. We have entered into agreements with each underlying fund portfolio company that require the portfolios to be operated in compliance with the Regulations.

Owner Control. In some circumstances, owners of variable contracts who retain excessive control over the investment of the underlying separate account assets may be treated as the owners of those assets and may be subject to tax on income produced by those assets. Although there is little guidance in this area and published guidance does not address certain aspects of the policies, we believe that the owner of a policy should not be treated as the owner of the underlying assets. We reserve the right to modify the policies to bring them into conformity with applicable standards should such modification be necessary to prevent owners of the policies from being treated as the owners of the underlying separate account assets.

Distribution Requirements. The Code requires that nonqualified policies contain specific provisions for distribution of policy proceeds upon the death of any owner. In order to be treated as an annuity contract for federal income tax purposes, the Code requires that such policies provide that if any owner dies on or after the annuity commencement date and before the entire interest in the policy has been distributed, the remaining portion must be distributed at least as rapidly as under the method in effect on such owner’s death. If any owner dies before the annuity commencement date, the entire interest in the policy must generally be distributed within 5 years after such owner’s date of death or be used to provide payments to a designated beneficiary beginning within one year of such owner’s death and will be made for the life of the beneficiary or for a period not extending beyond the life expectancy of the beneficiary. However, if upon such owner’s death prior to the annuity commencement date, such owner’s surviving spouse becomes the sole new owner under the policy, then the policy may be continued with the surviving spouse as the new owner. Under the policy, the beneficiary is the person(s) designated by an owner/annuitant and the surviving joint owner is the beneficiary of an owner who is not the annuitant. If any owner is not a natural person, then for purposes of these distribution requirements, the primary annuitant shall be treated as an owner and any death or change of such primary annuitant shall be treated as the death of an owner. The nonqualified policies contain provisions intended to comply with these requirements of the Code. No regulations interpreting these requirements of the Code have yet been issued and thus no assurance can be given that the provisions contained in the policies satisfy all such Code requirements. The provisions contained in the policies will be reviewed and modified if necessary to assure that they comply with the Code requirements when clarified by regulation or otherwise.

The Federal Defense of Marriage Act currently does not recognize same-sex marriages or civil unions, even those that are permitted under individual state laws. Therefore, exercise of the spousal continuation provisions of this policy by persons who do not meet the definition of “spouse” under federal law—e.g., civil union partners and same-sex marriage spouses—may have adverse tax consequences. Consult a tax advisor for more information on this subject.

The following discussion is based on the assumption that the policy qualifies as an annuity contract for federal income tax purposes.

Taxation of Annuities

In General. Code Section 72 governs taxation of annuities in general. We believe that an owner who is an individual will not be taxed on increases in the value of a policy until such amounts are surrendered or distributed. For this purpose, the assignment, pledge, or agreement to assign or pledge any portion of the policy value, and in the case of a qualified policy,

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any portion of an interest in the plan, generally will be treated as a distribution. The taxable portion of a distribution is taxable as ordinary income.

Non-Natural Persons. Pursuant to Section 72(u) of the Code, a nonqualified policy held by a taxpayer other than a natural person generally will not be treated as an annuity contract under the Code; accordingly, an owner who is not a natural person will recognize as ordinary income for a taxable year the excess, if any, of the policy value over the “investment in the contract”. There are some exceptions to this rule and a prospective purchaser of the policy that is not a natural person should discuss these with a competent tax adviser.

Withholding. The portion of any distribution under a policy that is includable in gross income will be subject to federal income tax withholding unless the recipient of such distribution elects not to have federal income tax withheld. Election forms will be provided at the time distributions are requested or made. For certain qualified policies, the withholding rate varies according to the type of distribution and the owner’s tax status. For qualified policies taxable, “eligible rollover distributions” from Section 401(a) plans, Section 403(a) annuities, Section 403(b) tax-sheltered annuities, and governmental 457 plans are subject to a mandatory federal income tax withholding of 20%. An eligible rollover distribution is any distribution from such a plan, other than specified distributions such as distributions required by the Code, distributions in a specified annuity form or hardship distributions. The 20% withholding does not apply, however, to nontaxable distributions or if (i) the employee (or employee’s spouse or former spouse as beneficiary or alternate payee) chooses a “direct rollover” from the plan to a tax-qualified plan, IRA, Roth IRA or tax sheltered annuity or to a governmental 457 plan that agrees to separately account for rollover contributions; or (ii) a non-spouse beneficiary chooses a “direct rollover” from the plan to an IRA established by the direct rollover.

Qualified Policies. The qualified policy is designed for use with several types of tax-qualified retirement plans. The tax rules applicable to participants and beneficiaries in tax-qualified retirement plans vary according to the type of plan and the terms and conditions of the plan. Special favorable tax treatment may be available for certain types of contributions and distributions. Adverse tax consequences may result from contributions in excess of specified limits, distributions prior to age 59 ¹/2 (subject to certain exceptions), distributions that do not conform to specified commencement and minimum distribution rules, and in other specified circumstances. Some retirement plans are subject to distribution and other requirements that are not incorporated into the policies or our policy administration procedures. Owners, participants, and beneficiaries are responsible for determining that contributions, distributions, and other transactions with respect to the policies comply with applicable law.

For qualified plans under Section 401(a), 403(a), 403(b), and 457, the Code requires that distributions generally must commence no later than the later of April 1 of the calendar year following the calendar year in which the owner (or plan participant) (i) reaches age 70 ¹/2 or (ii) retires, and must be made in a specified form or manner. If a participant in a Section 401(a) plan is a “5 percent owner” (as defined in the Code), or in the case of an IRA (other than a Roth IRA), distributions generally must begin no later than April 1 of the calendar year in which the owner (or plan participant) reaches age 70 ¹/2. Each owner is responsible for requesting distributions under the policy that satisfy applicable tax rules. Pursuant to special legislation, required minimum distributions for the 2009 tax year generally are not required, and 2009 distributions that otherwise would be required minimum distributions may be eligible for rollover.

We may make available, as options under the policy, certain guaranteed lifetime withdrawal benefits and other optional benefits. The tax rules for qualified policies may limit the value of these optional benefits. Consult a qualified tax advisor before electing any of these benefits for a qualified policy.

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We do not attempt to provide more than general information about use of the policy with the various types of retirement plans. Purchasers of policies for use with any retirement plan should consult their legal counsel and tax adviser regarding the suitability of the policy.

Traditional Individual Retirement Annuities. In order to qualify as a traditional individual retirement annuity under Section 408(b) of the Code, a policy must satisfy certain conditions: (i) the owner must be the annuitant; (ii) the policy generally is not transferable by the owner, e.g., the owner may not designate a new owner, designate a contingent owner or assign the policy as collateral security; (iii) subject to special rules, the total premium payments for any calendar year may not exceed the amount specified in the Code ($5,000 for 2010, $6,000 if age 50 or older), except in the case of a rollover amount or contribution under Section 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3) or 457(e)(16) of the Code; (iv) annuity payments or partial surrenders must begin no later than April 1 of the calendar year following the calendar year in which the annuitant attains age 70 ¹/2; (v) an annuity payment option with a period certain that will guarantee annuity payments beyond the life expectancy of the annuitant and the beneficiary may not be selected; (vi) certain payments of death benefits must be made in the event the annuitant dies prior to the distribution of the policy value; (vii) the entire interest of the owner is non-forfeitable; and (viii) the premiums must not be fixed. Policies intended to qualify as traditional individual retirement annuities under Section 408(b) of the Code contain such provisions. Amounts in the IRA (other than nondeductible contributions) are taxed when distributed from the IRA. Distributions prior to age 59 ¹/2 (unless certain exceptions apply) are subject to a 10% penalty tax.

The Internal Revenue Service has not reviewed the policy for qualification as an IRA and has not addressed in a ruling of general applicability whether the death benefit options and riders available with the policies comport with IRA qualification requirements.

Roth Individual Retirement Annuities (Roth IRA). The Roth IRA, under Section 408A of the Code, contains many of the same provisions as a traditional IRA. However, there are some differences. First, the contributions are not deductible and must be made in cash or as a rollover or transfer from another Roth IRA or other IRA. A rollover from or conversion of an IRA to a Roth IRA may be subject to tax. The Roth IRA is available to individuals with earned income and whose modified adjusted gross income is under $120,000 for single filers, $176,000 for married filing jointly, and $10,000 for married filing separately. Subject to special rules, the amount per individual that may be contributed to all IRAs (Roth and traditional) is the deductible amount specified in the Code ($5,000 for 2010, $6,000 if age 50 or older). Secondly, the distributions are taxed differently. The Roth IRA offers tax-free distributions when made 5 tax years after the first contribution to any Roth IRA of the individual and made after attaining age 59 ¹/2, to pay for qualified first time homebuyer expenses (lifetime maximum of $10,000), or due to death or disability. All other distributions are subject to income tax when made from earnings and may be subject to a penalty tax unless an exception applies. Unlike the traditional IRA, there are no minimum required distributions during the owner’s lifetime; however, required distributions at death are generally the same as for traditional IRAs.

Section 403(b) Plans. Under Section 403(b) of the Code, payments made by public school systems and certain tax exempt organizations to purchase policies for their employees are excludable from the gross income of the employee, subject to certain limitations. However, such payments may be subject to FICA (Social Security) taxes. The policy includes a death benefit that in some cases may exceed the greater of the premium payments or the policy value. The death benefit could be characterized as an incidental benefit, the amount of which is limited in any tax-sheltered annuity under Section 403(b). Therefore, employers using the policy in connection with such plans should consult their tax adviser. Additionally, in accordance with the requirements of the Code, Section 403(b) annuities generally may not permit distribution of (i) elective contributions made in years beginning after December 31, 1988, and (ii) earnings on those contributions, and (iii) earnings on amounts attributed to elective contributions held as of the end of the last year

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beginning before January 1, 1989. Distributions of such amounts will be allowed only upon the death of the employee, on or after attainment of age 59 ¹/2, severance from employment, disability, or financial hardship, except that income attributable to elective contributions may not be distributed in the case of hardship. These rules may prevent the payment of guaranteed withdrawals under a guaranteed lifetime withdrawal benefit prior to age 59 ¹/2.

For contracts issued after 2008, amounts attributable to nonelective contributions may be subject to distribution restrictions specified in the employer’s section 403(b) plan.

Pursuant to new tax regulations, we generally are required to confirm, with your 403(b) plan sponsor or otherwise, that surrenders you request from a 403(b) policy comply with applicable tax requirements before we process your request.

Corporate Pension and Profit-Sharing Plans and H.R. 10 Plans. Sections 401(a) and 403(a) of the Code permit corporate employers to establish various types of retirement plans for employees and self-employed individuals to establish qualified plans for themselves and their employees. Such retirement plans may permit the purchase of the policies to accumulate retirement savings. Adverse tax consequences to the plan, the participant or both may result if the policy is assigned or transferred to any individual as a means to provide benefit payments. The policy includes a death benefit that in some cases may exceed the greater of the premium payments or the policy value. The death benefit could be characterized as an incidental benefit, the amount of which is limited in a pension or profit sharing plan. Therefore, employers using the policy in connection with such plans should consult their tax adviser.

Deferred Compensation Plans. Section 457 of the Code, while not actually providing for a qualified plan as that term is normally used, provides for certain deferred compensation plans with respect to service for state governments, local governments, political subdivisions, agencies, instrumentalities, and certain affiliates of such entities, and tax exempt organizations. The policies can be used with such plans. Under such plans a participant may specify the form of investment in which his or her participation will be made. For non-governmental Section 457 plans, all such investments, however, are owned by, and are subject to, the claims of the general creditors of the sponsoring employer. Depending on the terms of the particular plan, a non-government employer may be entitled to draw on deferred amounts for purposes unrelated to its Section 457 plan obligations. In general, all amounts received under a nongovernmental Section 457 plan are taxable and are subject to federal income tax withholding as wages.

Taxation of the Company

The Company at present is taxed as a life insurance company under part I of Subchapter L of the Code. The separate account is treated as part of the Company and, accordingly, will not be taxed separately as a “regulated investment company” under Subchapter M of the Code. We do not expect to incur any federal income tax liability with respect to investment income and net capital gains arising from the activities of the separate account retained as part of the reserves under the policy. Based on this expectation, it is anticipated that no charges will be made against the separate account for federal income taxes. If, in future years, any federal income taxes are incurred by us with respect to the separate account, we may make a charge to that account.

INVESTMENT EXPERIENCE

A “net investment factor” is used to determine the value of accumulation units and annuity units, and to determine annuity payment rates.

15

Accumulation Units

Allocations of a premium payment directed to a subaccount are credited in the form of accumulation units. Each subaccount has a distinct accumulation unit value. The number of units credited is determined by dividing the premium payment or amount transferred to the subaccount by the accumulation unit value of the subaccount as of the end of the valuation period during which the allocation is made. For each subaccount, the accumulation unit value for a given business day is based on the net asset value of a share of the corresponding portfolio of the underlying fund portfolios less any applicable charges or fees. The investment performance of the portfolio, expenses, and deductions of certain charges affect the value of an accumulation unit.

Upon allocation to the selected subaccount, premium payments are converted into accumulation units of the subaccount. The number of accumulation units to be credited is determined by dividing the dollar amount allocated to each subaccount by the value of an accumulation unit for that subaccount as next determined after the premium payment is received at the administrative and service office or, in the case of the initial premium payment, when the enrollment form is completed, whichever is later. The value of an accumulation unit for each subaccount was arbitrarily established at $1 at the inception of each subaccount. Thereafter, the value of an accumulation unit is determined as of the close of trading on each day the New York Stock Exchange is open for regular trading.

An index (the “net investment factor”) which measures the investment performance of a subaccount during a valuation period, is used to determine the value of an accumulation unit for the next subsequent valuation period. The net investment factor may be greater or less than or equal to one; therefore, the value of an accumulation unit may increase, decrease, or remain the same from one valuation period to the next. You bear this investment risk. The net investment performance of a subaccount and deduction of certain charges affect the accumulation unit value.

The net investment factor for any subaccount for any valuation period is determined by dividing (a) by (b) and subtracting (c) from the result, where:

(a) is the net result of:

(1) the net asset value per share of the shares held in the subaccount determined at the end of the current valuation period, plus

(2) the per share amount of any dividend or capital gain distribution made with respect to the shares held in the subaccount if the ex-dividend date occurs during the current valuation period, plus or minus

(3) a per share credit or charge for any taxes determined by the Company to have resulted during the valuation period from the investment operations of the subaccount;

(b) is the net asset value per share of the shares held in the subaccount determined as of the end of the immediately preceding valuation period; and

(c) is an amount representing the separate account charge and any optional benefit fees, if applicable.

Illustration of Separate Account Accumulation Unit Value Calculations

Formula and Illustration for Determining the Net Investment Factor

Net Investment Factor =	(A + B - C)	- E
	D

16

Where:
A =	The net asset value of an underlying fund portfolio share as of the end of the current valuation period.
	Assume	A = $11.57

B =	The per share amount of any dividend or capital gains distribution since the end of the immediately preceding valuation period.
	Assume	B = 0

C =	The per share charge or credit for any taxes reserved for at the end of the current valuation period.
	Assume	C = 0

D =	The net asset value of an underlying fund portfolio share at the end of the immediately preceding valuation period.
	Assume	D = $11.40

E = The daily deduction for the mortality and expense risk fee and the administrative charge, and any optional benefit fees, if applicable. Assume E totals 2.35% on an annual basis; On a daily basis, this equals 0.000063641.

Then, the net investment factor =	(11.57 + 0 - 0)	- 0.000063641 = Z = 1.01484864
	(11.40)

Formula and Illustration for Determining Accumulation Unit Value

Accumulation Unit Value = A * B

Where:
A =	The accumulation unit value for the immediately preceding valuation period.
	Assume = $X

B =	The net investment factor for the current valuation period.
	Assume = Y

Then, the accumulation unit value = $X * Y = $Z

Annuity Unit Value and Annuity Payment Rates

The amount of variable annuity payments will vary with annuity unit values. Annuity unit values rise if the net investment performance of the subaccount exceeds the assumed investment return of 5% annually. Conversely, annuity unit values fall if the net investment performance of the subaccount is less than the annual assumed investment return. The value of a variable annuity unit in each subaccount was established at $1 on the date operations began for that subaccount. The value of a variable annuity unit on any subsequent business day is equal to (a) multiplied by (b) multiplied by (c), where:

(a) is the variable annuity unit value for the subaccount on the immediately preceding business day;

(b) is the net investment factor for that subaccount for the valuation period; and

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(c) is the assumed investment return adjustment factor for the valuation period.

The assumed investment return adjustment factor for the valuation period is the product of discount factors of .99986634 per day to recognize the 5% effective annual assumed investment return. The valuation period is the period from the close of the immediately preceding business day to the close of the current business day.

The net investment factor for the policy used to calculate the value of a variable annuity unit in each subaccount for the valuation period is determined by dividing (i) by (ii) and subtracting (iii) from the result, where:

(i) is the result of:

(1) the net asset value of a fund share held in that subaccount determined at the end of the current valuation period; plus

(2) the per share amount of any dividend or capital gain distributions made by the fund for shares held in that subaccount if the ex-dividend date occurs during the valuation period; plus or minus

(3) a per share charge or credit for any taxes reserved for, which the Company determines to have resulted from the investment operations of the subaccount.

(ii) is the net asset value of a fund share held in that subaccount determined as of the end of the immediately preceding valuation period.

(iii) is a factor representing the mortality and expense risk fee and administrative charge. This factor is equal, on an annual basis, to 1.25% of the daily net asset value of shares held in that subaccount (For calculating Initial Payment Guarantee annuity payments, the factor is higher at a rate of 2.50%).

The dollar amount of subsequent variable annuity payments will depend upon changes in applicable annuity unit values.

The annuity payment rates generally vary according to the annuity option elected and the gender and adjusted age of the annuitant at the annuity commencement date. The policy contains a table for determining the adjusted age of the annuitant.

Illustration of Calculations for Annuity Unit

Value and Variable Annuity Payments

Formula and Illustration for Determining Annuity Unit Value

Annuity Unit Value = A * B * C

Where:
A =	annuity unit value for the immediately preceding valuation period.
	Assume = $X

B =	Net investment factor for the valuation period for which the annuity unit value is being calculated.
	Assume = Y

C =	A factor to neutralize the annual assumed investment return of 5% built into the Annuity Tables used.
	Assume = Z

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Then, the annuity unit value is:

$X * Y * Z = $Q

Formula and Illustration for Determining Amount of

First Monthly Variable Annuity Payment

First monthly variable annuity payment =	A * B
	$1,000

Where:
A =	The adjusted policy value as of the annuity commencement date.
	Assume = $X

B =	The annuity purchase rate per $1,000 of adjusted policy value based upon the option selected, the sex and adjusted age of the annuitant according to the tables contained in the policy.
	Assume = $Y

Then, the first monthly variable annuity payment =	$X * $Y	= $Z
	1,000

Formula and Illustration for Determining the Number of Annuity Units

Represented by Each Monthly Variable Annuity Payment

Number of annuity units =	A
	B

Where:
A =	The dollar amount of the first monthly variable annuity payment.
	Assume = $X

B =	The annuity unit value for the valuation date on which the first monthly payment is due.
	Assume = $Y

Then, the number of annuity units =	$X	= Z
	$Y

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HISTORICAL PERFORMANCE DATA

Money Market Yields

The Company may from time to time disclose the current annualized yield of the money market subaccount, which invests in the corresponding money market portfolio, for a 7-day period in a manner which does not take into consideration any realized or unrealized gains or losses on shares of the corresponding money market portfolio or on its portfolio securities. This current annualized yield is computed by determining the net change (exclusive of realized gains and losses on the sale of securities and unrealized appreciation and depreciation and income other than investment income) at the end of the 7-day period in the value of a hypothetical account having a balance of 1 unit of the money market subaccount at the beginning of the 7-day period, dividing such net change in account value by the value of the account at the beginning of the period to determine the base period return, and annualizing this quotient on a 365-day basis. The net change in account value reflects (i) net income from the portfolio attributable to the hypothetical account; and (ii) charges and deductions imposed under a policy that are attributable to the hypothetical account. The charges and deductions include the per unit charges for the hypothetical account for (i) the administrative charges and (ii) the mortality and expense risk fee. Current yield will be calculated according to the following formula:

Current Yield = ((NCS * ES)/UV) * (365/7)

Where:

NCS	=	The net change in the value of the portfolio (exclusive of realized gains and losses on the sale of securities and unrealized appreciation and depreciation and income other than investment income) for the 7-day period attributable to a hypothetical account having a balance of 1 subaccount unit.
ES	=	Per unit expenses of the subaccount for the 7-day period.
UV	=	The unit value on the first day of the 7-day period.

Because of the charges and deductions imposed under a policy, the yield for the money market subaccount will be lower than the yield for the corresponding money market portfolio. The yield calculations do not reflect the effect of any premium taxes.

The Company may also disclose the effective yield of the money market subaccount for the same 7-day period, determined on a compounded basis. The effective yield is calculated by compounding the base period return according to the following formula:

Effective Yield = (1 + ((NCS - ES)/UV))^{365 /7} - 1

Where:

NCS	=	The net change in the value of the portfolio (exclusive of realized gains and losses on the sale of securities and unrealized appreciation and depreciation and income other than investment income) for the 7-day period attributable to a hypothetical account having a balance of 1 subaccount unit.
ES	=	Per unit expenses of the subaccount for the 7-day period.
UV	=	The unit value on the first day of the 7-day period.

The yield on amounts held in the money market subaccount normally will fluctuate on a daily basis. Therefore, the disclosed yield for any given past period is not an indication or representation of future yields or rates of return. The money market subaccount’s actual yield is affected by changes in interest rates on money market securities, average portfolio maturity of the corresponding money market portfolio, the types and quality of portfolio securities held by the corresponding money market portfolio and its operating expenses.

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Total Returns

The Company may from time to time also advertise or disclose total returns for one or more of the subaccounts for various periods of time. One of the periods of time will include the period measured from the date the subaccount commenced operations. When a subaccount has been in operation for 1, 5 and 10 years, respectively, the total return for these periods will be provided. Total returns for other periods of time may from time to time also be disclosed. Total returns represent the average annual compounded rates of return that would equate an initial investment of $1,000 to the redemption value of that investment as of the last day of each of the periods. The ending date for each period for which total return quotations are provided will be for the most recent month end practicable, considering the type and media of the communication and will be stated in the communication.

Total returns will be calculated using subaccount unit values which the Company calculates on each business day based on the performance of the separate account’s underlying fund portfolio and the deductions for the mortality and expense risk fee and the administrative charges. The total return will then be calculated according to the following formula:

P (1 + T)^N = ERV

Where:

T	=	The average annual total return net of subaccount recurring charges.
ERV	=	The ending redeemable value of the hypothetical account at the end of the period.
P	=	A hypothetical initial payment of $1,000.
N	=	The number of years in the period.

Other Performance Data

The Company may from time to time also disclose average annual total returns in a non-standard format in conjunction with the standard format described above. The non-standard format will be identical to the standard format.

The Company may from time to time also disclose cumulative total returns in conjunction with the standard format described above. The cumulative returns will be calculated using the following formula:

CTR = (ERV / P)-1

Where:

CTR	=	The cumulative total return net of subaccount recurring charges for the period.
ERV	=	The ending redeemable value of the hypothetical investment at the end of the period.
P	=	A hypothetical initial payment of $1,000.

All non-standard performance data will only be advertised if the standard performance data is also disclosed.

Adjusted Historical Performance Data

From time to time, sales literature or advertisements may quote average annual total returns for periods prior to the date a particular subaccount commenced operations. Such performance information for the subaccounts will be calculated

21

based on the performance of the various portfolios and the assumption that the subaccounts were in existence for the same periods as those indicated for the portfolios, with the level of policy charges that are currently in effect.

PUBLISHED RATINGS

The Company may from time to time publish in advertisements, sales literature and reports to owners, the ratings and other information assigned to it by one or more independent rating organizations such as A.M. Best Company, Standard & Poor’s Insurance Ratings Services, Moody’s Investors Service and Fitch Financial Ratings. The purpose of the ratings is to reflect the financial strength of the Company. The ratings should not be considered as bearing on the investment performance of assets held in the separate account or of the safety or riskiness of an investment in the separate account. Each year the A.M. Best Company reviews the financial status of thousands of insurers, culminating in the assignment of Best’s Ratings. These ratings reflect their current opinion of the relative financial strength and operating performance of an insurance company in comparison to the norms of the life/health insurance industry. In addition, these ratings may be referred to in advertisements or sales literature or in reports to owners. These ratings are opinions of an operating insurance company’s financial capacity to meet the obligations of its insurance policies in accordance with their terms.

STATE REGULATION OF TRANSAMERICA LIFE INSURANCE COMPANY

The Company is subject to the laws of Iowa governing insurance companies and to regulation by the Iowa Department of Insurance. An annual statement in a prescribed form is filed with the Department of Insurance each year covering the operation of the Company for the preceding year and its financial condition as of the end of such year. Regulation by the Department of Insurance includes periodic examination to determine the Company’s contract liabilities and reserves so that the Department may determine the items are correct. The Company’s books and accounts are subject to review by the Department of Insurance at all times, and a full examination of its operations is conducted periodically by the National Association of Insurance Commissioners. In addition, the Company is subject to regulation under the insurance laws of other jurisdictions in which it may operate.

ADMINISTRATION

The Company performs administrative services for the policies. These services include issuance of the policies, maintenance of records concerning the policies, and certain valuation services.

RECORDS AND REPORTS

All records and accounts relating to the separate account will be maintained by the Company. As presently required by the 1940 Act, as amended, and regulations promulgated thereunder, the Company will mail to all owners at their last known address of record, at least annually, reports containing such information as may be required under that Act or by any other applicable law or regulation. Owners will also receive confirmation of each financial transaction and any other reports required by law or regulation. However, for certain routine transactions (for example, regular monthly premiums deducted from your checking account, or regular annuity payments the Company sends to you) you may only receive quarterly confirmations.

22

DISTRIBUTION OF THE POLICIES

We have entered into a principal underwriting agreement with our affiliate, Transamerica Capital, Inc. (“TCI”), for the distribution and sale of the policies. We may reimburse TCI for certain expenses it incurs in order to pay for the distribution of the policies (e.g., commissions payable to selling firms selling the Policies, as described below.)

Effective May 1, 2007 TCI replaced our affiliate AFSG Securities Corporation (“AFSG”) as principal underwriter for the policies. TCI’s home office is located at 4600 S Syracuse St. Suite 1100 Denver, Colorado 80237-2719. TCI is an indirect, wholly owned subsidiary of AEGON USA. TCI is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934, and is a member of Financial Industry Regulatory Authority (“FINRA”). TCI is not a member of the Securities Investor Protection Corporation.

We currently offer the policies on a continuous basis. We anticipate continuing to offer the policies, but reserve the right to discontinue the offering. The policies are offered to the public through sales representatives of broker-dealers (“selling firms”) that have entered into selling agreements with us and with TCI. TCI compensates these selling firms for their services. Sales representatives with these selling firms are appointed as our insurance agents.

We and our affiliates provide paid-in capital to TCI and pay for TCI’s operating and other expenses, including overhead, legal and accounting fees. We also pay TCI an “override” payment based on the pricing of the product which becomes part of TCI’s assets. In addition, we pay commission to TCI for policy sales; these commissions are passed through to the selling firms with TCI not retaining any portion of the commissions. During fiscal year 2009, 2008, and 2007 the amounts paid to TCI in connection with all policies sold through the separate account were $10,063,056, $9,040,026, and $7,126,283, respectively.

During fiscal year 2007 the amount paid to AFSG in connection with all policies sold through the separate account was $3,492,635. AFSG passed through commissions it received to selling firms for their sales and does not retain any portion of them.

We and/or TCI or another affiliate may pay certain selling firms additional cash amounts for: (1) “preferred product” treatment of the policies in their marketing programs, which may include marketing services and increased access to their sales representatives; (2) sales promotions relating to the policies; (3) costs associated with sales conferences and educational seminars for their sales representatives; and (4) other sales expenses of the selling firms. We and/or TCI may make bonus payments to certain selling firms based on aggregate sales or persistency standards. These additional payments are not offered to all selling firms, and the terms of any particular agreement governing the payments may vary among selling firms.

VOTING RIGHTS

To the extent required by law, the Company will vote the underlying fund portfolios’ shares held by the separate account at regular and special shareholder meetings of the underlying fund portfolios in accordance with instructions received from persons having voting interests in the portfolios, although none of the underlying fund portfolios hold regular annual shareholder meetings. If, however, the 1940 Act or any regulation thereunder should be amended or if the present interpretation thereof should change, and as a result the Company determines that it is permitted to vote the underlying fund portfolios shares in its own right, it may elect to do so.

23

Before the annuity commencement date, you hold the voting interest in the selected portfolios. The number of votes that you have the right to instruct will be calculated separately for each subaccount. The number of votes that you have the right to instruct for a particular subaccount will be determined by dividing your policy value in the subaccount by the net asset value per share of the corresponding portfolio in which the subaccount invests. Fractional shares will be counted.

After the annuity commencement date, the person receiving annuity payments has the voting interest, and the number of votes decreases as annuity payments are made and as the reserves for the policy decrease. The person’s number of votes will be determined by dividing the reserve for the policy allocated to the applicable subaccount by the net asset value per share of the corresponding portfolio. Fractional shares will be counted.

The number of votes that you or the person receiving income payments has the right to instruct will be determined as of the date established by the underlying fund portfolio for determining shareholders eligible to vote at the meeting of the underlying fund portfolio. The Company will solicit voting instructions by sending you, or other persons entitled to vote, requests for instructions prior to that meeting in accordance with procedures established by the underlying fund portfolio. Portfolio shares as to which no timely instructions are received, and shares held by the Company in which you, or other persons entitled to vote have no beneficial interest, will be voted in proportion to the voting instructions that are received with respect to all policies participating in the same subaccount.

Each person having a voting interest in a subaccount will receive proxy material, reports, and other materials relating to the appropriate portfolio.

OTHER PRODUCTS

The Company makes other variable annuity policies available that may also be funded through the separate account. These variable annuity policies may have different features, such as different investment choices or charges.

CUSTODY OF ASSETS

The Company holds assets of each of the subaccounts. The assets of each of the subaccounts are segregated and held separate and apart from the assets of the other subaccounts and from the Company’s general account assets. The Company maintains records of all purchases and redemptions of shares of the underlying fund portfolios held by each of the subaccounts. Additional protection for the assets of the separate account is afforded by the Company’s fidelity bond, presently in the amount of $5,000,000, covering the acts of officers and employees of the Company.

LEGAL MATTERS

Sutherland Asbill & Brennan LLP, of Washington D.C. has provided legal advice to the Company regarding to certain matters under the federal securities laws that relate to the policies.

24

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The financial statements of the Separate Account VA B, at December 31, 2009 and for the periods disclosed in the financial statements, and the statutory-basis financial statements and schedules of Transamerica Life Insurance Company at December 31, 2009 and 2008, and for each of the three years in the period ended December 31, 2009, appearing herein, have been audited by Ernst & Young LLP, Suite 3000, 801 Grand Avenue, Des Moines, Iowa 50309, Independent Registered Public Accounting Firm, as set forth in their respective reports thereon appearing elsewhere herein, and are included in reliance upon their reports given on their authority as experts in accounting and auditing.

OTHER INFORMATION

A registration statement has been filed with the SEC, under the Securities Act of 1933 as amended, with respect to the policies discussed in this SAI. Not all of the information set forth in the registration statement and the amendments and exhibits thereto has been included in the prospectus or this SAI. Statements contained in the prospectus and this SAI concerning the content of the policies and other legal instruments are intended to be summaries. For a complete statement of the terms of these documents, reference should be made to the instruments filed with the SEC.

FINANCIAL STATEMENTS

The values of your interest in the separate account will be affected solely by the investment results of the selected subaccount(s). Financial statements of certain subaccounts of Separate Account VA B, which are available for investment by Transamerica Freedom Variable Annuity policy owners, are contained herein. The statutory-basis financial statements and schedules of Transamerica Life Insurance Company, which are included in this SAI, should be considered only as bearing on the ability of the Company to meet its obligations under the policies. They should not be considered as bearing on the investment performance of the assets held in the separate account.

25

APPENDIX

CONDENSED FINANCIAL INFORMATION

The accumulation unit values and the number of accumulation units outstanding for each subaccount from the date of inception are shown in the following tables.

		2.35%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation - Conservative VP – Service Class	2009	$	0.791064	$	0.965395	36,603.301
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.791064	25,794.608
Transamerica Asset Allocation - Moderate VP – Service Class	2009	$	0.761839	$	0.939349	2,310,531.733
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.761839	404,624.442
Transamerica Asset Allocation - Moderate Growth VP – Service Class	2009	$	0.713422	$	0.891308	1,603,360.459
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.713422	1,125,198.796
Transamerica International Moderate Growth VP – Service Class	2009	$	0.682134	$	0.861942	908,777.419
Subaccount Inception Date May 1, 2006	2008	$	1.000000	$	0.682134	462,486.792
Transamerica Foxhall Global Conservative VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.995049	$	0.982642	0.000
Transamerica PIMCO Total Return VP – Service Class	2009	$	0.914573	$	1.034332	191,381.210
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.914573	0.000
Transamerica Efficient Markets VP – Service Class	2009	$	1.035634	$	1.192580	2,045.146
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.035634	0.000
Transamerica Balanced VP – Service Class(6)	2009	$	0.730313	$	0.898631	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.000000	$	0.730313	0.000
Transamerica Money Market VP – Service Class	2009	$	0.997130	$	0.974345	410,140.730
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.997130	499,848.546
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.026549	$	1.045079	0.000
Subaccount Inception Date August 3, 1994	2008	$	1.000000	$	1.026549	24,796.039
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.711438	$	0.855991	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.711438	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999936	$	0.997267	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.813250	$	0.925927	109,564.307
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.813250	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.717740	$	0.863815	112,931.656
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.717740	25,744.346
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.011815	$	1.227904	59,166.767
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.011815	0.000
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.661888	$	0.894518	210,572.384
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.661888	0.000
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989162	$	1.255171	56,305.886
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989162	0.000
American Funds – Asset Allocation Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.989759	$	1.007176	0.000
American Funds – Bond Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	1.000880	$	0.992900	0.000
GE Investments Total Return Fund – Class 3
Subaccount inceptiond date November 19, 2009	2009	$	0.988791	$	1.002820	0.000

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CONDENSED FINANCIAL INFORMATION — (Continued)

		2.20%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.659771	$	0.774160	17,557.769
Subaccount Inception Date May 1, 2001	2008	$	1.071233	$	0.659771	60,467.848
	2007	$	1.109717	$	1.071233	16,757.321
	2006	$	1.000000	$	1.109717	0.000
Transamerica Asset Allocation - Conservative VP – Service Class	2009	$	0.821678	$	1.004220	293,728.261
Subaccount Inception Date May 1, 2002	2008	$	1.068508	$	0.821678	363,493.084
	2007	$	1.028896	$	1.068508	1,573,755.975
	2006	$	1.000000	$	1.028896	2,143,204.101
Transamerica Asset Allocation - Growth VP – Service Class	2009	$	0.646892	$	0.819964	4,377,934.086
Subaccount Inception Date May 1, 2002	2008	$	1.097527	$	0.646892	5,195,878.118
	2007	$	1.043203	$	1.097527	5,036,939.314
	2006	$	1.000000	$	1.043203	1,906,930.691
Transamerica Asset Allocation - Moderate VP – Service Class	2009	$	0.787834	$	0.972831	3,141,510.807
Subaccount Inception Date May 1, 2002	2008	$	1.091028	$	0.787834	3,298,802.556
	2007	$	1.035102	$	1.091028	4,569,216.810
	2006	$	1.000000	$	1.035102	3,190,266.680
Transamerica Asset Allocation - Moderate Growth VP – Service Class	2009	$	0.718227	$	0.898622	6,160,354.935
Subaccount Inception Date May 1, 2002	2008	$	1.094403	$	0.718227	6,219,743.049
	2007	$	1.039992	$	1.094403	5,561,161.806
	2006	$	1.000000	$	1.039992	1,911,071.352
Transamerica International Moderate Growth VP – Service Class	2009	$	0.678604	$	0.858728	536,162.426
Subaccount Inception Date May 1, 2006	2008	$	1.089131	$	0.678604	790,843.353
	2007	$	1.026078	$	1.089131	1,063,852.301
	2006	$	1.000000	$	1.026078	271,758.683
Transamerica BlackRock Global Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.197677	116,933.347
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	0.699058	$	0.777810	389,339.166
Subaccount Inception Date May 1, 2000	2008	$	1.083638	$	0.699058	148,217.637
	2007	$	1.061455	$	1.083638	388,233.301
	2006	$	1.000000	$	1.061455	0.000
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.201415	0.000
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	0.631266	$	0.821542	32,769.651
Subaccount Inception Date May 1, 2002	2008	$	1.122061	$	0.631266	20,620.132
	2007	$	1.231988	$	1.122061	19,937.821
	2006	$	1.000000	$	1.231988	0.000
Transamerica Foxhall Emerging Markets/Pacific Rim VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.990698	$	1.008506	0.000
Transamerica Foxhall Global Conservative VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.995053	$	0.982813	0.000
Transamerica Foxhall Global Growth VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.988951	$	1.005660	0.000
Transamerica Foxhall Global Hard Asset VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.986556	$	0.985042	0.000
Transamerica Hanlon Balanced VP – Service Class
Subaccount inception Date November 19, 2009	2009	$	0.998143	$	1.019844	0.000
Transamerica Hanlon Growth VP – Service Class
Subaccount Inception date November 19, 2009	2009	$	0.996382	$	1.020512	0.000

27

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.20%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Hanlon Growth and Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.997250	$	1.021595	0.000
Transamerica Hanlon Managed Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999940	$	1.002869	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.985139	$	1.028818	0.000
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.678498	$	0.858510	45,718.456
Subaccount Inception Date May 1, 1997	2008	$	1.109967	$	0.678498	45,749.882
	2007	$	1.087719	$	1.109967	32,453.027
	2006	$	1.000000	$	1.087719	0.000
Transamerica Jennison Growth VP– Service Class(2)	2009	$	0.671651	$	0.924589	35,764.412
Subaccount Inception Date November 20, 1996	2008	$	1.091552	$	0.671651	3,910.540
	2007	$	1.002625	$	1.091552	3,915.747
	2006	$	1.000000	$	1.002625	0.000
Transamerica Focus VP – Service Class(3)	2009	$	0.658077	$	0.821415	13,883.091
Subaccount Inception Date May 1, 2000	2008	$	1.059916	$	0.658077	26,454.857
	2007	$	1.075152	$	1.059916	27,187.635
	2006	$	1.000000	$	1.075152	2,842.029
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.766090	$	1.100861	47,413.660
Subaccount Inception Date June 2, 1998	2008	$	1.050501	$	0.766090	10,787.035
	2007	$	1.055504	$	1.050501	0.000
	2006	$	1.000000	$	1.055504	0.000
Transamerica MFS International Equity VP – Service Class	2009	$	0.709461	$	0.917981	95,216.484
Subaccount Inception Date May 1, 2001	2008	$	1.124963	$	0.709461	108,299.751
	2007	$	1.056173	$	1.124963	89,784.879
	2006	$	1.000000	$	1.056173	0.000
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.682411	$	0.843556	73,067.729
Subaccount Inception Date May 1, 2000	2008	$	1.184804	$	0.682411	20,698.063
	2007	$	1.008048	$	1.184804	112,877.143
	2006	$	1.000000	$	1.008048	0.000
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.043383	$	1.181738	153,777.837
Subaccount Inception Date May 1, 2002	2008	$	1.100224	$	1.043383	47,712.577
	2007	$	1.033553	$	1.100224	0.000
	2006	$	1.000000	$	1.033553	0.000
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	0.688386	$	0.843056	27,698.129
Subaccount Inception Date January 20, 1995	2008	$	1.102732	$	0.688386	58,453.100
	2007	$	1.093675	$	1.102732	59,207.634
	2006	$	1.000000	$	1.093675	14,339.062
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.647377	$	0.905270	38,041.015
Subaccount Inception Date January 5, 1995	2008	$	1.150766	$	0.647377	69,327.456
	2007	$	1.073143	$	1.150766	19,118.022
	2006	$	1.000000	$	1.073143	0.000
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	0.627366	$	0.849152	17,614.100
Subaccount Inception Date May 1, 2000	2008	$	1.008290	$	0.627366	13,717.148
	2007	$	0.943135	$	1.008290	111,651.926
	2006	$	1.000000	$	0.943135	3,149.091
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.662573	$	0.828849	340,951.624
Subaccount Inception Date May 1, 2000	2008	$	1.205308	$	0.662573	30,170.900
	2007	$	1.071454	$	1.205308	379,588.557
	2006	$	1.000000	$	1.071454	2,852.118

28

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.20%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Efficient Markets VP – Service Class	2009	$	1.035841	$	1.194573	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.035841	0.000
Transamerica Balanced VP – Service Class(6)	2009	$	0.748230	$	0.922028	5,561.455
Subaccount Inception Date May 1, 2002	2008	$	1.134220	$	0.748230	5,571.693
	2007	$	1.022538	$	1.134220	0.000
	2006	$	1.000000	$	1.022538	0.000
Transamerica Convertible Securities VP – Service Class	2009	$	0.704811	$	0.904570	37,729.323
Subaccount Inception Date May 1, 2002	2008	$	1.143446	$	0.704811	51,112.315
	2007	$	0.988035	$	1.143446	26,214.820
	2006	$	1.000000	$	0.988035	9,247.845
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	0.602171	$	0.759470	221,029.047
Subaccount Inception Date May 1, 2000	2008	$	1.143504	$	0.602171	234,309.589
	2007	$	1.007202	$	1.143504	230,523.398
	2006	$	1.000000	$	1.007202	15,277.502
Transamerica Growth Opportunities VP – Service Class	2009	$	0.661959	$	0.884251	9,577.885
Subaccount Inception Date May 1, 2001	2008	$	1.148032	$	0.661959	28,100.634
	2007	$	0.956050	$	1.148032	27,368.535
	2006	$	1.000000	$	0.956050	6,237.915
Transamerica Money Market VP – Service Class	2009	$	1.041332	$	1.019041	927,845.482
Subaccount Inception Date July 5, 1994	2008	$	1.041763	$	1.041332	2,219,365.276
	2007	$	1.016363	$	1.041763	886,750.385
	2006	$	1.000000	$	1.016363	93,545.393
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.628096	$	0.970354	9,267.268
Subaccount Inception Date May 1, 2001	2008	$	1.255675	$	0.628096	9,744.919
	2007	$	0.968636	$	1.255675	6,578.890
	2006	$	1.000000	$	0.968636	0.000
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.657184	$	0.918896	9,579.076
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.657184	9,579.076
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.125215	$	1.147205	5,257.962
Subaccount Inception Date August 3, 1994	2008	$	1.070646	$	1.125215	200,535.739
	2007	$	1.034510	$	1.070646	0.000
	2006	$	1.000000	$	1.034510	0.000
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.712135	$	0.858083	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.712135	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999940	$	0.997437	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.814052	$	0.928203	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.814052	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.718445	$	0.865935	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.718445	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999940	$	1.023376	0.000
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	0.708350	$	0.871065	327,745.851
Subaccount Inception Date July 5, 1994	2008	$	1.187790	$	0.708350	130,440.550
	2007	$	1.053195	$	1.187790	383,655.125
	2006	$	1.000000	$	1.053195	10,634.168
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.637320	$	0.904751	53,582.314
Subaccount Inception Date July 5, 1994	2008	$	1.127087	$	0.637320	31,643.822
	2007	$	1.057444	$	1.127087	31,156.019
	2006	$	1.000000	$	1.057444	0.000

29

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.20%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class(10)	2009	$	0.620384	$	0.971986	25,642.898
Subaccount Inception Date May 1, 2001	2008	$	1.183888	$	0.620384	33,665.161
	2007	$	0.989934	$	1.183888	33,207.000
	2006	$	1.000000	$	0.989934	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.493700	$	0.713676	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.049205	$	0.493700	0.000
	2007	$	1.057997	$	1.049205	0.000
	2006	$	1.000000	$	1.057997	0.000
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.602721	$	0.711919	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.073747	$	0.602721	0.000
	2007	$	0.982258	$	1.073747	0.000
	2006	$	1.000000	$	0.982258	0.000
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012024	$	1.229961	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012024	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.656049	$	0.772547	137,891.645
Subaccount Inception Date May 1, 2001	2008	$	1.130667	$	0.656049	0.000
	2007	$	1.102114	$	1.130667	0.000
	2006	$	1.000000	$	1.102114	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.645570	$	0.866064	167,322.111
Subaccount Inception Date May 1, 2001	2008	$	1.096458	$	0.645570	3,943.216
	2007	$	0.986416	$	1.096458	3,948.462
	2006	$	1.000000	$	0.986416	0.000
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.662544	$	0.896724	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.662544	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.658823	$	0.873279	325,026.931
Subaccount Inception Date May 1, 2000	2008	$	1.175023	$	0.658823	135,896.477
	2007	$	1.023854	$	1.175023	480,594.411
	2006	$	1.000000	$	1.023854	10,470.704
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.608766	$	0.773660	32,182.942
Subaccount Inception Date May 1, 2000	2008	$	1.088069	$	0.608766	38,772.723
	2007	$	1.098172	$	1.088069	32,464.068
	2006	$	1.000000	$	1.098172	0.000
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.643474	$	0.805695	24,943.660
Subaccount Inception Date May 1, 2001	2008	$	1.248218	$	0.643474	43,449.798
	2007	$	1.007280	$	1.248218	42,777.592
	2006	$	1.000000	$	1.007280	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	0.652621	$	0.892420	272,750.796
Subaccount Inception Date May 1, 2000	2008	$	1.104504	$	0.652621	80,990.115
	2007	$	0.978803	$	1.104504	466,289.976
	2006	$	1.000000	$	0.978803	12,464.735
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.519691	$	0.799135	42,267.109
Subaccount Inception Date May 1, 2002	2008	$	1.090425	$	0.519691	50,495.667
	2007	$	1.057031	$	1.090425	13,901.005
	2006	$	1.000000	$	1.057031	0.000
Franklin Income Securities Fund – Class 2	2009	$	0.664363	$	0.881467	32,778.428
Subaccount Inception Date May 1, 2007	2008	$	0.965310	$	0.664363	35,490.995
	2007	$	1.000000	$	0.965310	18,521.743
Mutual Shares Securities Fund – Class 2	2009	$	0.590319	$	0.728066	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.959380	$	0.590319	0.000
	2007	$	1.000000	$	0.959380	0.000

30

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.20%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Templeton Foreign Securities Fund – Class 2	2009	$	0.620360	$	0.831865	497,986.577
Subaccount Inception Date May 1, 2007	2008	$	1.063477	$	0.620360	62,921.714
	2007	$	1.000000	$	1.063477	637,123.559
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989357	$	1.257278	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989357	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.683719	$	0.966318	10,258.208
Subaccount Inception Date October 9, 2000	2008	$	1.244769	$	0.683719	54,114.915
	2007	$	1.045077	$	1.244769	3,490.881
	2006	$	1.000000	$	1.045077	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.637625	$	0.857255	23,468.208
Subaccount Inception Date October 9, 2000	2008	$	1.180831	$	0.637625	29,768.100
	2007	$	1.103619	$	1.180831	29,311.097
	2006	$	1.000000	$	1.103619	0.000
MFS ® New Discovery Series – Service Class	2009	$	0.594189	$	0.947224	5,743.634
Subaccount Inception Date May 1, 2002	2008	$	1.004175	$	0.594189	5,743.634
	2007	$	1.003807	$	1.004175	0.000
	2006	$	1.000000	$	1.003807	0.000
MFS ® Total Return Series – Service Class	2009	$	0.824129	$	0.949322	16,460.849
Subaccount Inception Date May 1, 2002	2008	$	1.084369	$	0.824129	26,691.046
	2007	$	1.066387	$	1.084369	31,479.282
	2006	$	1.000000	$	1.066387	5,684.633
American Funds – Asset Allocation Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.989763	$	1.007351	0.000
American Funds – Bond Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	1.000884	$	0.993075	0.000
American Funds – Growth Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986466	$	1.002214	0.000
American Funds – Growth-Income Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986787	$	1.007604	0.000
American Funds – International Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.982897	$	0.979738	0.000
GE Investments Total Return Fund – Class 3
Subaccount inception date November 19, 2009	2009	$	0.988795	$	1.002991	0.000
		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.964907	$	1.132765	14,174.993
Subaccount Inception Date May 1, 2001	2008	$	1.565881	$	0.964907	19,055.954
	2007	$	1.662134	$	1.565881	32,357.531
	2006	$	1.386523	$	1.662134	101,446.554
	2005	$	1.363986	$	1.386523	39,820.857
	2004	$	1.226414	$	1.363986	74,607.000
	2003	$	1.000000	$	1.226414	13,095.182

31

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	1.084034	$	1.325501	1,928,458053
Subaccount Inception Date May 1, 2002	2008	$	1.408993	$	1.084034	2,482,622.017
	2007	$	1.356090	$	1.408993	1,435,409.234
	2006	$	1.269130	$	1.356090	953,384.333
	2005	$	1.234511	$	1.269130	1,137,676.082
	2004	$	1.152278	$	1.234511	536,581.000
	2003	$	1.000000	$	1.152278	179,972.944
Transamerica Asset Allocation – Growth VP – Service Class	2009	$	1.062976	$	1.348037	3,414,953.644
Subaccount Inception Date May 1, 2002	2008	$	1.802573	$	1.062976	3,468,484.844
	2007	$	1.712514	$	1.802573	6,034,694.788
	2006	$	1.517400	$	1.712514	6,159,837.425
	2005	$	1.384807	$	1.517400	4,021,906.068
	2004	$	1.241984	$	1.384807	3,064,722.000
	2003	$	1.000000	$	1.241984	1,201,091.477
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	1.111167	$	1.372753	2,590,206.086
Subaccount Inception Date May 1, 2002	2008	$	1.538027	$	1.111167	2,991,827.462
	2007	$	1.458473	$	1.538027	4,795,439.912
	2006	$	1.339544	$	1.458473	5,131,712.692
	2005	$	1.277203	$	1.339544	5,115,110.568
	2004	$	1.174098	$	1.277203	2,730,131.000
	2003	$	1.000000	$	1.174098	679,194.714
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	1.098022	$	1.374483	4,835,060.473
Subaccount Inception Date May 1, 2002	2008	$	1.672295	$	1.098022	5,083,316.971
	2007	$	1.588385	$	1.672295	6,214,163.500
	2006	$	1.428964	$	1.588385	7,677,330.281
	2005	$	1.330451	$	1.428964	5,310,495.972
	2004	$	1.201059	$	1.330451	3,097,756.000
	2003	$	1.000000	$	1.201059	939,048.775
Transamerica International Moderate Growth VP – Service Class	2009	$	0.679492	$	0.860268	474,493.549
Subaccount Inception Date May 1, 2006	2008	$	1.090028	$	0.679492	497,882.501
	2007	$	1.026410	$	1.090028	367,405.065
	2006	$	1.000000	$	1.026410	0.000
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	1.234971	$	1.374770	495,017.361
Subaccount Inception Date May 1, 2000	2008	$	1.913440	$	1.234971	255,162.008
	2007	$	1.873346	$	1.913440	279,474.301
	2006	$	1.640798	$	1.873346	253,213.360
	2005	$	1.448152	$	1.640798	248,333.372
	2004	$	1.253702	$	1.448152	78,011.000
	2003	$	1.000000	$	1.253702	42,002.324
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993347	$	1.002432	0.000
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	1.292959	$	1.683496	185,759.138
Subaccount Inception Date May 1, 2002	2008	$	2.297071	$	1.292959	248,337.983
	2007	$	2.520868	$	2.297071	252,795.159
	2006	$	1.814388	$	2.520868	294,762.732
	2005	$	1.637432	$	1.814388	366,181.528
	2004	$	1.262459	$	1.637432	266,453.000
	2003	$	1.000000	$	1.262459	63,434.115
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.985141	$	1.028874	0.000

32

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.931759	$	1.179562	101,832.525
Subaccount Inception Date May 1, 1997	2008	$	1.523527	$	0.931759	94,706.021
	2007	$	1.492264	$	1.523527	94,971.323
	2006	$	1.325861	$	1.492264	358,336.370
	2005	$	1.312320	$	1.325861	1,372,078.604
	2004	$	1.210944	$	1.312320	1,113,351.000
	2003	$	1.000000	$	1.210944	0.000
Transamerica Jennison Growth VP – Service Class(2)	2009	$	0.946742	$	1.303937	39,633.086
Subaccount Inception Date November 20, 1996	2008	$	1.537870	$	0.946742	15,325.946
	2007	$	1.411887	$	1.537870	15,325.946
	2006	$	1.419451	$	1.411887	15,325.946
	2005	$	1.277195	$	1.419451	17,116.169
	2004	$	1.198453	$	1.277195	40,745.000
	2003	$	1.000000	$	1.198453	0.000
Transamerica Focus VP – Service Class(3)	2009	$	0.976595	$	1.219584	194,647.348
Subaccount Inception Date May 1, 2000	2008	$	1.572158	$	0.976595	202,655.826
	2007	$	1.593965	$	1.572158	269,248.002
	2006	$	1.376368	$	1.593965	410,726.323
	2005	$	1.354336	$	1.376368	298,608.359
	2004	$	1.270508	$	1.354336	265,380.000
	2003	$	1.000000	$	1.270508	67,280.160
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.905796	$	1.302247	661,375.335
Subaccount Inception Date June 2, 1998	2008	$	1.241463	$	0.905796	721,162.519
	2007	$	1.246751	$	1.241463	100,722.824
	2006	$	1.151260	$	1.246751	104,493.839
	2005	$	1.158535	$	1.151260	108,140.740
	2004	$	1.080784	$	1.158535	175,332.000
	2003	$	1.000000	$	1.080784	157,622.638
Transamerica MFS International Equity VP – Service Class	2009	$	1.244990	$	1.611688	94,923.154
Subaccount Inception Date May 1, 2001	2008	$	1.973156	$	1.244990	99,549.722
	2007	$	1.851605	$	1.973156	235,625.538
	2006	$	1.538650	$	1.851605	247,769.548
	2005	$	1.398004	$	1.538650	261,854.317
	2004	$	1.250244	$	1.398004	177,027.000
	2003	$	1.000000	$	1.250244	102,017.265
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.961123	$	1.188640	448,617.473
Subaccount Inception Date October 9, 2000	2008	$	1.667893	$	0.961123	441,733.703
	2007	$	1.418375	$	1.667893	487,629.414
	2006	$	1.377754	$	1.418375	763,817.263
	2005	$	1.300503	$	1.377754	724,250.892
	2004	$	1.185885	$	1.300503	336,453.000
	2003	$	1.000000	$	1.185885	160,684.847
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.053799	$	1.194111	1,261,928.300
Subaccount Inception Date May 1, 2002	2008	$	1.110668	$	1.053799	700,796.489
	2007	$	1.042860	$	1.110668	971,174.920
	2006	$	1.025258	$	1.042860	928,230.457
	2005	$	1.026377	$	1.025258	1,000,389.363
	2004	$	1.006080	$	1.026377	658,356.000
	2003	$	1.000000	$	1.006080	239,952.455

33

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	1.011108	$	1.238901	365,727.110
Subaccount Inception Date January 20, 1995	2008	$	1.618904	$	1.011108	308,250.320
	2007	$	1.604826	$	1.618904	519,026.987
	2006	$	1.380915	$	1.604826	693,078.684
	2005	$	1.358789	$	1.380915	618,003.060
	2004	$	1.211630	$	1.358789	316,276.000
	2003	$	1.000000	$	1.211630	24,239.954
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.897696	$	1.255901	307,138.917
Subaccount Inception Date January 5, 1995	2008	$	1.594931	$	0.897696	289,429.703
	2007	$	1.486621	$	1.594931	467,491.675
	2006	$	1.342168	$	1.486621	483,865.813
	2005	$	1.294613	$	1.342168	370,944.540
	2004	$	1.207107	$	1.294613	291,832.000
	2003	$	1.000000	$	1.207107	63,869.423
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	1.041318	$	1.410149	203,157.795
Subaccount Inception Date May 1, 2000	2008	$	1.672766	$	1.041318	194,406.272
	2007	$	1.563893	$	1.672766	178,833.197
	2006	$	1.545814	$	1.563893	404,819.697
	2005	$	1.430228	$	1.545814	378,416.860
	2004	$	1.326829	$	1.430228	313,716.000
	2003	$	1.000000	$	1.326829	101,816.725
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.813353	$	1.017952	602,949.933
Subaccount Inception Date May 1, 2000	2008	$	1.478894	$	0.813353	4,755.102
	2007	$	1.314007	$	1.478894	4,755.102
	2006	$	1.133136	$	1.314007	0.000
	2005	$	1.079394	$	1.133136	4,432.714
	2004	$	1.201198	$	1.079394	4,350.000
	2003	$	1.000000	$	1.201198	0.000
Transamerica Efficient Markets VP – Service Class	2009	$	1.035918	$	1.195259	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.035918	0.000
Transamerica Balanced VP – Service Class(6)	2009	$	0.976767	$	1.204240	29,364.361
Subaccount Inception Date May 1, 2002	2008	$	1.479924	$	0.976767	32,647.518
	2007	$	1.333543	$	1.479924	33,187.572
	2006	$	1.252650	$	1.333543	36,329.615
	2005	$	1.187040	$	1.252650	36,577.685
	2004	$	1.093673	$	1.187040	38,942.000
	2003	$	1.000000	$	1.093673	0.000
Transamerica Convertible Securities VP – Service Class	2009	$	0.996728	$	1.279852	48,386.689
Subaccount Inception Date May 1, 2002	2008	$	1.616227	$	0.996728	53,550.687
	2007	$	1.395882	$	1.616227	78,435.731
	2006	$	1.288563	$	1.395882	55,829.488
	2005	$	1.271177	$	1.288563	31,420.365
	2004	$	1.149242	$	1.271177	3,391.000
	2003	$	1.000000	$	1.149242	0.000
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	0.986483	$	1.244787	463,695.354
Subaccount Inception Date May 1, 2000	2008	$	1.872364	$	0.986483	417,090.899
	2007	$	1.648376	$	1.872364	472,810.388
	2006	$	1.553501	$	1.648376	563,024.373
	2005	$	1.364662	$	1.553501	574,290.404
	2004	$	1.205743	$	1.364662	395,965.000
	2003	$	1.000000	$	1.205743	38,359.608

34

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Growth Opportunities VP – Service Class	2009	$	1.148234	$	1.534555	52,651.522
Subaccount Inception Date May 1, 2001	2008	$	1.990409	$	1.148234	39,609.615
	2007	$	1.656734	$	1.990409	141,999.390
	2006	$	1.613251	$	1.656734	178,737.813
	2005	$	1.421396	$	1.613251	313,519.293
	2004	$	1.246300	$	1.421396	74,869.000
	2003	$	1.000000	$	1.246300	48,950.305
Transamerica Money Market VP – Service Class	2009	$	1.028091	$	1.006569	951,101.316
Subaccount Inception Date July 5, 1994	2008	$	1.028011	$	1.028091	1,286,239.026
	2007	$	1.002449	$	1.028011	437,887.594
	2006	$	0.980126	$	1.002449	227,643.569
	2005	$	0.975511	$	0.980126	10,372.450
	2004	$	0.989088	$	0.975511	6,407.000
	2003	$	1.000000	$	0.989088	216,867.4832
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.874170	$	1.351166	31,829.669
Subaccount Inception Date May 1, 2001	2008	$	1.746752	$	0.874170	29,858.045
	2007	$	1.346786	$	1.746752	30,343.187
	2006	$	1.365274	$	1.346786	30,421.508
	2005	$	1.369105	$	1.365274	36,573.403
	2004	$	1.300362	$	1.369105	37,401.000
	2003	$	1.000000	$	1.300362	3,092.232
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.657484	$	0.919767	49,205.015
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.657484	0.000
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.095748	$	1.117712	433,673.132
Subaccount Inception Date August 3, 1994	2008	$	1.042101	$	1.095748	872,047.666
	2007	$	1.006430	$	1.042101	101,410.831
	2006	$	0.997496	$	1.006430	105,351.787
	2005	$	0.999084	$	0.997496	145,132.240
	2004	$	0.991836	$	0.999084	68,802.000
	2003	$	1.000000	$	0.991836	26,176.409
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.712375	$	0.858803	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.712375	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999942	$	0.997500	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.814316	$	0.928956	11,205.641
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.814316	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.718684	$	0.866647	4,305.529
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.718684	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999942	$	1.023437	0.000
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	1.337860	$	1.645991	313,124.823
Subaccount Inception Date July 5, 1994	2008	$	2.242303	$	1.337860	316,075.400
	2007	$	1.987234	$	2.242303	372,198.321
	2006	$	1.647788	$	1.987234	338,096.217
	2005	$	1.481461	$	1.647788	334,559.680
	2004	$	1.307862	$	1.481461	304,963.000
	2003	$	1.000000	$	1.307862	74,368.417

35

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.876554	$	1.244984	284,783.183
Subaccount Inception Date July 5, 1994	2008	$	1.549416	$	0.876554	31,001.174
	2007	$	1.452967	$	1.549416	28,230.593
	2006	$	1.348438	$	1.452967	80,342.102
	2005	$	1.262208	$	1.348438	80,479.008
	2004	$	1.145861	$	1.262208	38,665.000
	2003	$	1.000000	$	1.145861	0.000
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class(10)	2009	$	0.876694	$	1.374217	26,581.151
Subaccount Inception Date May 1, 2001	2008	$	1.672182	$	0.876694	23,996.686
	2007	$	1.397529	$	1.672182	38,924.941
	2006	$	1.302569	$	1.397529	123,174.408
	2005	$	1.239838	$	1.302569	124,303.118
	2004	$	1.184648	$	1.239838	125,106.000
	2003	$	1.000000	$	1.184648	23,023.688
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.743277	$	1.074985	107,486.988
Subaccount Inception Date May 1, 2002	2008	$	1.578813	$	0.743277	66,037.760
	2007	$	1.591252	$	1.578813	56,911.712
	2006	$	1.439122	$	1.591252	74,031.520
	2005	$	1.394287	$	1.439122	74,265.282
	2004	$	1.285073	$	1.394287	68,626.000
	2003	$	1.000000	$	1.285073	5,919.219
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.860882	$	1.017376	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.532894	$	0.860882	0.000
	2007	$	1.401590	$	1.532894	0.000
	2006	$	1.349869	$	1.401590	0.000
	2005	$	1.269873	$	1.349869	0.000
	2004	$	1.219988	$	1.269873	0.000
	2003	$	1.000000	$	1.219988	0.000
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012092	$	1.230654	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012092	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.931613	$	1.097579	239,492.303
Subaccount Inception Date May 1, 2001	2008	$	1.604815	$	0.931613	264,454.605
	2007	$	1.563517	$	1.604815	268,088.522
	2006	$	1.365174	$	1.563517	275,224.306
	2005	$	1.333168	$	1.365174	286,973.126
	2004	$	1.224493	$	1.333168	290,239.000
	2003	$	1.000000	$	1.224493	114,697.784
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.869870	$	1.167532	186,754.085
Subaccount Inception Date May 1, 2001	2008	$	1.476695	$	0.869870	169,973.549
	2007	$	1.327845	$	1.476695	170,383.441
	2006	$	1.365080	$	1.327845	170,644.138
	2005	$	1.214121	$	1.365080	161,683.443
	2004	$	1.144760	$	1.214121	48,544.000
	2003	$	1.000000	$	1.144760	47,733.393
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.662760	$	0.897454	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.662760	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	1.116280	$	1.480365	544,766.097
Subaccount Inception Date May 1, 2000	2008	$	1.989918	$	1.116280	511,499.203
	2007	$	1.733058	$	1.989918	742,112.074
	2006	$	1.588607	$	1.733058	674,170.279
	2005	$	1.391080	$	1.588607	659,549.148
	2004	$	1.233995	$	1.391080	255,237.000
	2003	$	1.000000	$	1.233995	83,464.910

36

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.918503	$	1.167869	83,710.773
Subaccount Inception Date May 1, 2000	2008	$	1.640841	$	0.918503	92,166.928
	2007	$	1.655258	$	1.640841	86,513.185
	2006	$	1.409780	$	1.655258	267,536.727
	2005	$	1.364018	$	1.409780	190,493.555
	2004	$	1.252706	$	1.364018	136,367.000
	2003	$	1.000000	$	1.252706	77,379.047
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.862406	$	1.080349	94,671.968
Subaccount Inception Date May 1, 2001	2008	$	1.672074	$	0.862406	91,775.171
	2007	$	1.348661	$	1.672074	80,837.215
	2006	$	1.292627	$	1.348661	106,218.684
	2005	$	1.251476	$	1.292627	124,081.249
	2004	$	1.239747	$	1.251476	94,028.000
	2003	$	1.000000	$	1.239747	11,204.374
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	1.436090	$	1.964731	514,906.085
Subaccount Inception Date May 1, 2000	2008	$	2.429262	$	1.436090	498,623.150
	2007	$	2.151737	$	2.429262	750,741.561
	2006	$	1.955351	$	2.151737	720,299.054
	2005	$	1.692355	$	1.955351	772,717.827
	2004	$	1.386871	$	1.692355	381,416.000
	2003	$	1.000000	$	1.386871	133,784.257
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.919295	$	1.414285	318,662.057
Subaccount Inception Date May 1, 2002	2008	$	1.927952	$	0.919295	336,063.844
	2007	$	1.867997	$	1.927952	419,807.998
	2006	$	1.644751	$	1.867997	502,636.818
	2005	$	1.640189	$	1.644751	471,967.131
	2004	$	1.471850	$	1.640189	369,833.000
	2003	$	1.000000	$	1.471850	146,595.072
Franklin Income Securities Fund – Class 2	2009	$	0.664906	$	0.882623	36,481.412
Subaccount Inception Date May 1, 2007	2008	$	0.965627	$	0.664906	36,491.486
	2007	$	1.000000	$	0.965627	13,238.852
Mutual Shares Securities Fund – Class 2	2009	$	0.590810	$	0.729031	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.959702	$	0.590810	0.000
	2007	$	1.000000	$	0.959702	0.000
Templeton Foreign Securities Fund – Class 2	2009	$	0.620853	$	0.832934	58,184.934
Subaccount Inception Date May 1, 2007	2008	$	1.063816	$	0.620853	0.000
	2007	$	1.000000	$	1.063816	0.000
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989426	$	1.257960	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989426	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	1.175386	$	1.662040	81,680.157
Subaccount Inception Date October 9, 2000	2008	$	2.138831	$	1.175386	81,983.165
	2007	$	1.794831	$	2.138831	85,077.565
	2006	$	1.618038	$	1.794831	85,683.518
	2005	$	1.475288	$	1.618038	96,297.251
	2004	$	1.250953	$	1.475288	92,181.000
	2003	$	1.000000	$	1.250953	10,363.837
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.871869	$	1.172770	190,110.270
Subaccount Inception Date October 9, 2000	2008	$	1.613854	$	0.871869	163,788.505
	2007	$	1.507580	$	1.613854	164,667.097
	2006	$	1.305700	$	1.507580	164,345.091
	2005	$	1.263357	$	1.305700	161,063.273
	2004	$	1.234690	$	1.263357	161,412.000
	2003	$	1.000000	$	1.234690	215.949

37

CONDENSED FINANCIAL INFORMATION — (Continued)

		2.15%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
MFS ® New Discovery Series – Service Class	2009	$	0.887916	$	1.416164	148,887.174
Subaccount Inception Date May 1, 2002	2008	$	1.499841	$	0.887916	130,537.787
	2007	$	1.498539	$	1.499841	169,448.655
	2006	$	1.355412	$	1.498539	133,019.620
	2005	$	1.318163	$	1.355412	139,846.163
	2004	$	1.267862	$	1.318163	96,913.000
	2003	$	1.000000	$	1.267862	50,423.630
MFS ® Total Return Series – Service Class	2009	$	1.033161	$	1.190685	151,350.994
Subaccount Inception Date May 1, 2002	2008	$	1.358741	$	1.033161	123,998.994
	2007	$	1.335553	$	1.358741	204,767.048
	2006	$	1.222132	$	1.335553	234,584.502
	2005	$	1.216718	$	1.222132	197,411.119
	2004	$	1.119499	$	1.216718	185,984.000
	2003	$	1.000000	$	1.119499	82,360.117
		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.664986	$	0.782584	20,940.884
Subaccount Inception Date May 1, 2001	2008	$	1.076501	$	0.664986	20,964.031
	2007	$	1.111885	$	1.076501	13,699.866
	2006	$	1.000000	$	1.111885	17,275.117
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	0.828163	$	1.015120	3,985,042.434
Subaccount Inception Date May 1, 2002	2008	$	1.073776	$	0.828163	4,894,990.078
	2007	$	1.030912	$	1.073776	2,084,202.644
	2006	$	1.000000	$	1.030912	511,262.328
Transamerica Asset Allocation – Growth VP – Service Class	2009	$	0.652006	$	0.828876	787,970.364
Subaccount Inception Date May 1, 2002	2008	$	1.102931	$	0.652006	795,660.503
	2007	$	1.045246	$	1.102931	966,514.483
	2006	$	1.000000	$	1.045246	318,695.737
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	0.794044	$	0.983380	14,175,984.447
Subaccount Inception Date May 1, 2002	2008	$	1.096387	$	0.794044	9,962,953.196
	2007	$	1.037121	$	1.096387	6,045,535.743
	2006	$	1.000000	$	1.037121	1,118,657.605
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	0.723890	$	0.908385	21,209,465.843
Subaccount Inception Date May 1, 2002	2008	$	1.099775	$	0.723890	17,142,181.518
	2007	$	1.042026	$	1.099775	20,513,887.854
	2006	$	1.000000	$	1.042026	7,281,010.652
Transamerica International Moderate Growth VP – Service Class	2009	$	0.683958	$	0.868064	2,041,513.547
Subaccount Inception Date May 1, 2006	2008	$	1.094494	$	0.683958	2,128,751.748
	2007	$	1.028086	$	1.094494	1,219,711.124
	2006	$	1.000000	$	1.028086	134,295.597
Transamerica BlackRock Global Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.200030	130,561.494
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	0.704580	$	0.786258	177,029.895
Subaccount Inception Date May 1, 2000	2008	$	1.088974	$	0.704580	36,500.817
	2007	$	1.063525	$	1.088974	35,915.227
	2006	$	1.000000	$	1.063525	13,227.866
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.203782	39,945.950

38

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	0.636251	$	0.830462	34,859.190
Subaccount Inception Date May 1, 2002	2008	$	1.127580	$	0.636251	33,217.449
	2007	$	1.234393	$	1.127580	18,865.159
	2006	$	1.000000	$	1.234393	106,063.702
Transamerica Foxhall Emerging Markets/Pacific Rim VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.990706	$	1.008852	0.000
Transamerica Foxhall Global Conservative VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.995061	$	0.983154	6,105.109
Transamerica Foxhall Global Growth VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.988959	$	1.006014	0.000
Transamerica Foxhall Global Hard Asset VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.986564	$	0.985386	0.000
Transamerica Hanlon Balanced VP – Service Class
Subaccount inception Date November 19, 2009	2009	$	0.998151	$	1.020195	0.000
Transamerica Hanlon Growth VP – Service Class
Subaccount Inception date November 19, 2009	2009	$	0.996390	$	1.020867	0.000
Transamerica Hanlon Growth and Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.997258	$	1.021949	2,461.660
Transamerica Hanlon Managed Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999948	$	1.003215	291,366.364
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.683847	$	0.867821	8,630.181
Subaccount Inception Date May 1, 1997	2008	$	1.115419	$	0.683847	8,630.181
	2007	$	1.089839	$	1.115419	0.000
	2006	$	1.000000	$	1.089839	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.985147	$	1.029171	0.000
Transamerica Jennison Growth VP – Service Class(2)	2009	$	0.676964	$	0.934657	2,056.689
Subaccount Inception Date November 20, 1996	2008	$	1.096928	$	0.676964	0.000
	2007	$	1.004583	$	1.096928	9,289.403
	2006	$	1.000000	$	1.004583	0.000
Transamerica Focus VP – Service Class(3)	2009	$	0.663281	$	0.830356	93,372.252
Subaccount Inception Date May 1, 2000	2008	$	1.065145	$	0.663281	81,082.873
	2007	$	1.077262	$	1.065145	99,442.440
	2006	$	1.000000	$	1.077262	98,224.038
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.772135	$	1.112807	33,540.262
Subaccount Inception Date June 2, 1998	2008	$	1.055670	$	0.772135	0.000
	2007	$	1.057560	$	1.055670	0.000
	2006	$	1.000000	$	1.057560	0.000
Transamerica MFS International Equity VP – Service Class	2009	$	0.715058	$	0.927939	136,937.087
Subaccount Inception Date May 1, 2001	2008	$	1.130491	$	0.715058	142,098.434
	2007	$	1.058240	$	1.130491	90,369.755
	2006	$	1.000000	$	1.058240	39,497.212
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.687785	$	0.852682	66,120.069
Subaccount Inception Date May 1, 2000	2008	$	1.190628	$	0.687785	119,104.288
	2007	$	1.010019	$	1.190628	127,131.720
	2006	$	1.000000	$	1.010019	59,574.309

39

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.051601	$	1.194546	790,154.232
Subaccount Inception Date May 1, 2002	2008	$	1.105623	$	1.051601	211,893.582
	2007	$	1.035566	$	1.105623	124,982.616
	2006	$	1.000000	$	1.035566	76,442.058
Transamerica ProFunds UltraBear Fund – Service Class OAM
Subaccount inception date May 1, 2009	2009	$	1.000000	$	0.560855	0.000
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	0.693818	$	0.852210	174,757.383
Subaccount Inception Date January 20, 1995	2008	$	1.108156	$	0.693818	133,321.316
	2007	$	1.095810	$	1.108156	90,929.959
	2006	$	1.000000	$	1.095810	61,406.192
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.652487	$	0.915098	43,776.754
Subaccount Inception Date January 5, 1995	2008	$	1.156414	$	0.652487	0.000
	2007	$	1.075239	$	1.156414	8,747.011
	2006	$	1.000000	$	1.075239	0.000
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	0.632312	$	0.858378	27,681.631
Subaccount Inception Date May 1, 2000	2008	$	1.013242	$	0.632312	57,694.968
	2007	$	0.944996	$	1.013242	65,322.019
	2006	$	1.000000	$	0.944996	51,584.638
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.667789	$	0.837828	151,245.417
Subaccount Inception Date May 1, 2000	2008	$	1.211228	$	0.667789	30,123.783
	2007	$	1.073545	$	1.211228	31,339.264
	2006	$	1.000000	$	1.073545	33,725.433
Transamerica Efficient Markets VP – Service Class	2009	$	1.036272	$	1.198589	9,805.450
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.036272	0.000
Transamerica Balanced VP – Service Class(6)	2009	$	0.754138	$	0.932035	637,354.565
Subaccount Inception Date May 1, 2002	2008	$	1.139811	$	0.754138	231,609.778
	2007	$	1.024544	$	1.139811	111,257.916
	2006	$	1.000000	$	1.024544	41,163.775
Transamerica Convertible Securities VP – Service Class	2009	$	0.710376	$	0.914390	26,968.407
Subaccount Inception Date May 1, 2002	2008	$	1.149055	$	0.710376	6,687.833
	2007	$	0.989965	$	1.149055	6,776.405
	2006	$	1.000000	$	0.989965	0.000
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	0.606932	$	0.767731	69,016.481
Subaccount Inception Date May 1, 2000	2008	$	1.149132	$	0.606932	32,468.901
	2007	$	1.009173	$	1.149132	27,950.244
	2006	$	1.000000	$	1.009173	105,090.753
Transamerica Growth Opportunities VP – Service Class	2009	$	0.667186	$	0.893848	80,267.928
Subaccount Inception Date May 1, 2001	2008	$	1.153690	$	0.667186	62,441.741
	2007	$	0.957925	$	1.153690	57,486.116
	2006	$	1.000000	$	0.957925	0.000
Transamerica Money Market VP – Service Class	2009	$	1.049513	$	1.030079	399,264.666
Subaccount Inception Date July 5, 1994	2008	$	1.046863	$	1.049513	676,118.179
	2007	$	1.018335	$	1.046863	343,026.579
	2006	$	1.000000	$	1.018335	116,990.871
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.633047	$	0.980870	5,493.659
Subaccount Inception Date July 5, 1994	2008	$	1.261850	$	0.633047	0.000
	2007	$	0.970525	$	1.261850	0.000
	2006	$	1.000000	$	0.970525	0.000
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.659011	$	0.924159	13,539.443
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.659011	1,314.549

40

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.134074	$	1.159638	477,437.077
Subaccount Inception Date August 3, 1994	2008	$	1.075910	$	1.134074	444,400.151
	2007	$	1.036528	$	1.075910	0.000
	2006	$	1.000000	$	1.036528	0.000
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.713544	$	0.862314	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.713544	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999948	$	0.997783	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.815656	$	0.932770	185,075.215
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.815656	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.719866	$	0.870203	866,031.593
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.719866	643,424.842
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999948	$	1.023730	0.000
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	0.713948	$	0.880545	138,862.062
Subaccount Inception Date July 5, 1994	2008	$	1.193650	$	0.713948	93,823.825
	2007	$	1.055268	$	1.193650	64,036.082
	2006	$	1.000000	$	1.055268	70,359.136
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.642348	$	0.914578	229,872.428
Subaccount Inception Date July 5, 1994	2008	$	1.132631	$	0.642348	0.000
	2007	$	1.059512	$	1.132631	0.000
	2006	$	1.000000	$	1.059512	0.000
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class(10)	2009	$	0.625274	$	0.982522	27,347.953
Subaccount Inception Date May 1, 2001	2008	$	1.189694	$	0.625274	25,842.364
	2007	$	0.991858	$	1.189694	21,301.345
	2006	$	1.000000	$	0.991858	869.928
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.134074	$	1.159638	515,621.744
Subaccount Inception Date November 3, 2003	2008	$	1.075910	$	1.134074	787,322.762
	2007	$	1.036528	$	1.075910	81,371.416
	2006	$	1.000000	$	1.036528	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.497605	$	0.721445	1,087.021
Subaccount Inception Date May 1, 2002	2008	$	1.054375	$	0.497605	3,319.689
	2007	$	1.060064	$	1.054375	13,414.948
	2006	$	1.000000	$	1.060064	13,771.621
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.607483	$	0.719664	25,988.432
Subaccount Inception Date May 1, 2002	2008	$	1.079021	$	0.607483	27,307.543
	2007	$	0.984167	$	1.079021	12,369.902
	2006	$	1.000000	$	0.984167	3,817.887
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012438	$	1.234087	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012438	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.661227	$	0.780936	7,353.541
Subaccount Inception Date May 1, 2001	2008	$	1.136227	$	0.661227	0.000
	2007	$	1.104265	$	1.136227	0.000
	2006	$	1.000000	$	1.104265	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.650665	$	0.875466	3,971.995
Subaccount Inception Date May 1, 2001	2008	$	1.101853	$	0.650665	1,293.299
	2007	$	0.988345	$	1.101853	9,458.939
	2006	$	1.000000	$	0.988345	0.000
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.663853	$	0.901140	78,165.444
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.663853	0.000

41

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.664024	$	0.882764	89,329.091
Subaccount Inception Date May 1, 2000	2008	$	1.180803	$	0.664024	60,103.259
	2007	$	1.025856	$	1.180803	51,894.975
	2006	$	1.000000	$	1.025856	18,380.628
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.613580	$	0.782082	167,938.302
Subaccount Inception Date May 1, 2000	2008	$	1.093424	$	0.613580	173,463.859
	2007	$	1.100311	$	1.093424	148,014.352
	2006	$	1.000000	$	1.100311	9,529.007
Fidelity VIP Growth Portfolio – Service Class 22	2009	$	0.648553	$	0.814445	556,322.812
Subaccount Inception Date May 1, 2001	2008	$	1.254358	$	0.648553	556,655.149
	2007	$	1.009247	$	1.254358	60,758.587
	2006	$	1.000000	$	1.009247	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	0.657771	$	0.902106	51,172.575
Subaccount Inception Date May 1, 2000	2008	$	1.109935	$	0.657771	37,156.794
	2007	$	0.980709	$	1.109935	36,006.338
	2006	$	1.000000	$	0.980709	85,734.239
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.523790	$	0.807801	139,934.727
Subaccount Inception Date May 1, 2002	2008	$	1.095776	$	0.523790	139,273.769
	2007	$	1.059093	$	1.095776	138,654.104
	2006	$	1.000000	$	1.059093	22,743.198
Franklin Income Securities Fund – Class 2	2009	$	0.667633	$	0.888410	36,920.627
Subaccount Inception Date May 1, 2007	2008	$	0.967204	$	0.667633	22,397.977
	2007	$	1.000000	$	0.967204	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.593231	$	0.733813	14,373.909
Subaccount Inception Date May 1, 2007	2008	$	0.961270	$	0.593231	7,293.280
	2007	$	1.000000	$	0.961270	0.000
Templeton Foreign Securities Fund – Class 2	2009	$	0.623405	$	0.838401	77,842.934
Subaccount Inception Date May 1, 2007	2008	$	1.065568	$	0.623405	54,588.797
	2007	$	1.000000	$	1.065568	16,655.770
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989766	$	1.261486	16,095.124
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989766	4,061.764
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.689114	$	0.976820	20,113.376
Subaccount Inception Date October 9, 2000	2008	$	1.250883	$	0.689114	13,854.438
	2007	$	1.047121	$	1.250883	0.000
	2006	$	1.000000	$	1.047121	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.642659	$	0.866567	22,656.253
Subaccount Inception Date October 9, 2000	2008	$	1.186653	$	0.642659	15,124.558
	2007	$	1.105786	$	1.186653	10,721.978
	2006	$	1.000000	$	1.105786	811.404
MFS ® New Discovery Series – Service Class	2009	$	0.598887	$	0.957525	33,821.905
Subaccount Inception Date May 1, 2002	2008	$	1.009127	$	0.598887	27,398.274
	2007	$	1.005768	$	1.009127	21,573.908
	2006	$	1.000000	$	1.005768	0.000
MFS ® Total Return Series – Service Class	2009	$	0.830613	$	0.959602	59,511.739
Subaccount Inception Date May 1, 2002	2008	$	1.089681	$	0.830613	34,696.136
	2007	$	1.068454	$	1.089681	76,310.184
	2006	$	1.000000	$	1.068454	0.000
American Funds - Asset Allocation Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.989771	$	1.007699	0.000

42

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.90%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
American Funds – Bond Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	1.000892	$	0.993413	0.000
American Funds – Growth Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986474	$	1.002561	0.000
American Funds – Growth-Income Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986795	$	1.007946	0.000
American Funds – International Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.982905	$	0.980076	0.000
GE Investments Total Return Fund – Class 3
Subaccount inceptiond date November 19, 2009	2009	$	0.988803	$	1.003337	0.000
		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.981136	$	1.155201	88,202.695
Subaccount Inception Date May 1, 2001	2008	$	1.587528	$	0.981136	85,681.377
	2007	$	1.638910	$	1.587528	150,136.696
	2006	$	1.397454	$	1.638910	208,580.138
	2005	$	1.370715	$	1.397454	150,656.612
	2004	$	1.228827	$	1.370715	70,697.000
	2003	$	1.000000	$	1.228827	0.000
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	1.102289	$	1.351796	1,389,265.733
Subaccount Inception Date May 1, 2002	2008	$	1.428490	$	1.102289	3,108,478.970
	2007	$	1.370797	$	1.428490	750,536.105
	2006	$	1.279140	$	1.370797	795,433.702
	2005	$	1.240597	$	1.279140	652,930.653
	2004	$	1.154543	$	1.240597	837,819.000
	2003	$	1.000000	$	1.154543	91,792.069
Transamerica Asset Allocation – Growth VP – Service Class	2009	$	1.080868	$	1.374764	862,055.716
Subaccount Inception Date May 1, 2002	2008	$	1.827501	$	1.080868	918,377.449
	2007	$	1.731070	$	1.827501	2,099,128
	2006	$	1.529348	$	1.731070	2,797,329.801
	2005	$	1.391625	$	1.529348	2,600,394.875
	2004	$	1.244419	$	1.391625	1,797,507.000
	2003	$	1.000000	$	1.244419	114,594.272
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	1.129842	$	1.399939	2,927,695.870
Subaccount Inception Date May 1, 2002	2008	$	1.559272	$	1.129842	2,778,429.817
	2007	$	1.474254	$	1.559272	4,847,202.025
	2006	$	1.350078	$	1.474254	6,181,321.693
	2005	$	1.283478	$	1.350078	6,524,698.939
	2004	$	1.176403	$	1.283478	4,739,171.000
	2003	$	1.000000	$	1.176403	317,015.129
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	1.116475	$	1.401701	4,604,784.050
Subaccount Inception Date May 1, 2002	2008	$	1.695380	$	1.116475	2,957,775.925
	2007	$	1.605557	$	1.695380	10,704,039.339
	2006	$	1.440189	$	1.605557	10,992,735.381
	2005	$	1.336977	$	1.440189	10,034,902.509
	2004	$	1.203403	$	1.336977	4,343,551.000
	2003	$	1.000000	$	1.203403	232,944.756

43

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica International Moderate Growth VP – Service Class	2009	$	0.684863	$	0.869641	29,209.308
Subaccount Inception Date May 1, 2006	2008	$	1.095389	$	0.684863	124,331.835
	2007	$	1.028417	$	1.095389	130,037.708
	2006	$	1.000000	$	1.028417	93,075.935
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	1.255742	$	1.402016	333,482.898
Subaccount Inception Date May 1, 2000	2008	$	1.939867	$	1.255742	22,491.403
	2007	$	1.893607	$	1.939867	59,243.401
	2006	$	1.653693	$	1.893607	56,904.033
	2005	$	1.455261	$	1.653693	52,368.991
	2004	$	1.256162	$	1.455261	28,995.000
	2003	$	1.000000	$	1.256162	26,650.249
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993355	$	1.002778	0.000
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	1.314716	$	1.716885	127,704.580
Subaccount Inception Date May 1, 2002	2008	$	2.328830	$	1.314716	312,080.388
	2007	$	2.548171	$	2.328830	236,531.519
	2006	$	1.828678	$	2.548171	230,073.642
	2005	$	1.645498	$	1.828678	206,413.470
	2004	$	1.264938	$	1.645498	109,597.000
	2003	$	1.000000	$	1.264938	37,367.829
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.947439	$	1.202938	86.261
Subaccount Inception Date May 1, 1997	2008	$	1.544595	$	0.947439	3,473.905
	2007	$	1.508426	$	1.544595	3,621.037
	2006	$	1.336293	$	1.508426	0.000
	2005	$	1.318774	$	1.336293	0.000
	2004	$	1.213316	$	1.318774	314.000
	2003	$	1.000000	$	1.213316	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subacount inception date November 19, 2009	2009	$	0.985149	$	1.029234	0.000
Transamerica Jennison Growth VP– Service Class(2)	2009	$	0.962680	$	1.329797	17,124.333
Subaccount Inception Date November 20, 1996	2008	$	1.559151	$	0.962680	17,133.870
	2007	$	1.427197	$	1.559151	27,065.555
	2006	$	1.430633	$	1.427197	27,563.986
	2005	$	1.283494	$	1.430633	24,006.880
	2004	$	1.200812	$	1.283494	11,056.000
	2003	$	1.000000	$	1.200812	8,327.698
Transamerica Focus VP – Service Class(3)	2009	$	0.993038	$	1.243782	32,522.992
Subaccount Inception Date May 1, 2000	2008	$	1.593905	$	0.993038	29,920.193
	2007	$	1.611242	$	1.593905	48,411.315
	2006	$	1.387213	$	1.611242	98,177.319
	2005	$	1.361003	$	1.387213	64,093.796
	2004	$	1.272998	$	1.361003	44,627.000
	2003	$	1.000000	$	1.272998	13,422.446
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.921031	$	1.328042	145,091.252
Subaccount Inception Date June 2, 1998	2008	$	1.258616	$	0.921031	51,754.940
	2007	$	1.260250	$	1.258616	70,255.619
	2006	$	1.160309	$	1.260250	70,870.020
	2005	$	1.164230	$	1.160309	99,861.865
	2004	$	1.082910	$	1.164230	57,283.000
	2003	$	1.000000	$	1.082910	258.009

44

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica MFS International Equity VP – Service Class	2009	$	1.265940	$	1.643632	204,656.760
Subaccount Inception Date May 1, 2001	2008	$	2.000448	$	1.265940	284,315.751
	2007	$	1.871673	$	2.000448	310,229
	2006	$	1.550773	$	1.871673	316,385.235
	2005	$	1.404892	$	1.550773	341,070.528
	2004	$	1.252702	$	1.404892	121,373.000
	2003	$	1.000000	$	1.252702	20,524.116
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.977285	$	1.212199	36,957.004
Subaccount Inception Date May 1, 2000	2008	$	1.690931	$	0.977285	158,198.145
	2007	$	1.433718	$	1.690931	295,318.634
	2006	$	1.388585	$	1.433718	457,598.459
	2005	$	1.306899	$	1.388585	386,523.250
	2004	$	1.188215	$	1.306899	45,845.000
	2003	$	1.000000	$	1.188215	3,654.310
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.071547	$	1.217797	778,935.300
Subaccount Inception Date May 1, 2002	2008	$	1.126043	$	1.071547	520,577.509
	2007	$	1.054181	$	1.126043	697,679.292
	2006	$	1.033347	$	1.054181	760,997.455
	2005	$	1.031445	$	1.033347	754,727.817
	2004	$	1.008067	$	1.031445	493,094.000
	2003	$	1.000000	$	1.008067	146,973.450
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	1.028121	$	1.263447	100,080.672
Subaccount Inception Date January 20, 1995	2008	$	1.641280	$	1.028121	110,183.255
	2007	$	1.622198	$	1.641280	110,760.296
	2006	$	1.391775	$	1.622198	238,146.915
	2005	$	1.365469	$	1.391775	191,246.778
	2004	$	1.214006	$	1.365469	114,649.000
	2003	$	1.000000	$	1.214006	0.000
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.912803	$	1.280794	34,021.376
Subaccount Inception Date January 5, 1995	2008	$	1.616984	$	0.912803	51,104.849
	2007	$	1.502726	$	1.616984	87,401.871
	2006	$	1.352737	$	1.502726	78,447.104
	2005	$	1.300978	$	1.352737	77,742.496
	2004	$	1.209480	$	1.300978	67,495.000
	2003	$	1.000000	$	1.209480	13,845.154
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	1.058835	$	1.438085	74,521.628
Subaccount Inception Date May 1, 2000	2008	$	1.695885	$	1.058835	35,655.610
	2007	$	1.580826	$	1.695885	65,804.264
	2006	$	1.557972	$	1.580826	103,002.948
	2005	$	1.437264	$	1.557972	85,387.274
	2004	$	1.329429	$	1.437264	63,248.000
	2003	$	1.000000	$	1.329429	3,031.830
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.824621	$	1.035091	418,135.742
Subaccount Inception Date May 1, 2000	2008	$	1.494943	$	0.824621	134,062.050
	2007	$	1.324353	$	1.494943	189,012.209
	2006	$	1.138715	$	1.324353	200,512.614
	2005	$	1.081523	$	1.138715	144,796.803
	2004	$	1.203554	$	1.081523	86,454.000
	2003	$	1.000000	$	1.203554	21,173.319
Transamerica Efficient Markets VP – Service Class	2009	$	1.036345	$	1.199258	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.036345	0.000

45

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Balanced VP – Service Class(6)	2009	$	0.993199	$	1.228099	38,694.956
Subaccount Inception Date May 1, 2002	2008	$	1.500384	$	0.993199	5,178.380
	2007	$	1.347980	$	1.500384	0.000
	2006	$	1.262511	$	1.347980	0.000
	2005	$	1.192883	$	1.262511	0.000
	2004	$	1.095821	$	1.192883	841.000
	2003	$	1.000000	$	1.095821	0.000
Transamerica Convertible Securities VP – Service Class	2009	$	1.013496	$	1.305220	128,352.073
Subaccount Inception Date May 1, 2002	2008	$	1.638564	$	1.013496	78,139.845
	2007	$	1.410994	$	1.638564	194,281.296
	2006	$	1.298714	$	1.410994	131,920.368
	2005	$	1.277435	$	1.298714	127,429.404
	2004	$	1.151505	$	1.277435	28,209.000
	2003	$	1.000000	$	1.151505	0.000
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	1.003093	$	1.269462	220,800.963
Subaccount Inception Date May 1, 2000	2008	$	1.898270	$	1.003093	217,396.105
	2007	$	1.666241	$	1.898270	321,611.411
	2006	$	1.565729	$	1.666241	342,622.915
	2005	$	1.371372	$	1.565729	398,210.114
	2004	$	1.208109	$	1.371372	229,870.000
	2003	$	1.000000	$	1.208109	18,765.793
Transamerica Growth Opportunities VP – Service Class	2009	$	1.167543	$	1.564957	21,180.228
Subaccount Inception Date May 1, 2001	2008	$	2.017902	$	1.167543	18,696.996
	2007	$	1.674665	$	2.017902	30,469.855
	2006	$	1.625938	$	1.674665	32,633.252
	2005	$	1.428382	$	1.625938	172,297.594
	2004	$	1.248740	$	1.428382	32,712.000
	2003	$	1.000000	$	1.248740	0.000
Transamerica Money Market VP – Service Class	2009	$	1.045395	$	1.026507	253,903.310
Subaccount Inception Date July 5, 1994	2008	$	1.042244	$	1.045395	1,313,697.694
	2007	$	1.013334	$	1.042244	181,403.169
	2006	$	0.987867	$	1.013334	195,776.576
	2005	$	0.980329	$	0.987867	166,889.442
	2004	$	0.991036	$	0.980329	356,750.000
	2003	$	1.000000	$	0.991036	88,816.643
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.888888	$	1.377949	1,170.937
Subaccount Inception Date May 1, 2001	2008	$	1.770918	$	0.888888	0.000
	2007	$	1.361387	$	1.770918	0.000
	2006	$	1.376024	$	1.361387	0.000
	2005	$	1.375840	$	1.376024	0.000
	2004	$	1.302912	$	1.375840	0.000
	2003	$	1.000000	$	1.302912	0.000
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.659317	$	0.925057	1,751.480
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.659317	0.000
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.114167	$	1.139846	233,240.153
Subaccount Inception Date August 3, 1994	2008	$	1.056501	$	1.114167	176,497.796
	2007	$	1.017329	$	1.056501	35,048
	2006	$	1.005345	$	1.017329	32,788.018
	2005	$	1.004005	$	1.005345	42,787.901
	2004	$	0.993783	$	1.004005	369,479.000
	2003	$	1.000000	$	0.993783	443,131.549
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.713780	$	0.863011	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.713780	4,196.020

46

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999950	$	0.997845	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.815922	$	0.933525	3,823.539
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.815922	5,656.596
Transamerica Index 75 VP – Service Class	2009	$	0.720097	$	0.870910	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.720097	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999950	$	1.023790	0.000
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	1.360375	$	1.678627	110,162.510
Subaccount Inception Date July 5, 1994	2008	$	2.273309	$	1.360375	198,001.852
	2007	$	2.008770	$	2.273309	253,267.944
	2006	$	1.660766	$	2.008770	257,446.379
	2005	$	1.488758	$	1.660766	118,880.857
	2004	$	1.310431	$	1.488758	95,142.000
	2003	$	1.000000	$	1.310431	0.000
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.891317	$	1.269687	329,807.442
Subaccount Inception Date July 5, 1994	2008	$	1.570851	$	0.891317	4,098.714
	2007	$	1.468712	$	1.570851	8,262.283
	2006	$	1.359065	$	1.468712	16,397.513
	2005	$	1.268429	$	1.359065	14,083.969
	2004	$	1.148114	$	1.268429	13,061.000
	2003	$	1.000000	$	1.148114	19,119.399
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class(10)	2009	$	0.891443	$	1.401446	17,735.337
Subaccount Inception Date May 1, 2001	2008	$	1.695300	$	0.891443	17,798.515
	2007	$	1.412676	$	1.695300	33,400.380
	2006	$	1.312834	$	1.412676	30,138.970
	2005	$	1.245948	$	1.312834	24,791.226
	2004	$	1.186979	$	1.245948	27,341.000
	2003	$	1.000000	$	1.186979	0.000
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.114167	$	1.139846	1,304,264.157
Subaccount Inception Date November 3, 2003	2008	$	1.056501	$	1.114167	2,882,925.461
	2007	$	1.017329	$	1.056501	0.000
	2006	$	1.005345	$	1.017329	0.00
	2005	$	1.004005	$	1.005345	3,676.282
	2004	$	0.993783	$	1.004005	0.000
	2003	$	1.000000	$	0.993783	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.755790	$	1.096316	98,443.121
Subaccount Inception Date May 1, 2002	2008	$	1.600638	$	0.755790	81,568.115
	2007	$	1.608483	$	1.600638	102,642.623
	2006	$	1.450459	$	1.608483	106,238.928
	2005	$	1.401161	$	1.450459	110,422.322
	2004	$	1.287590	$	1.401161	66,607.000
	2003	$	1.000000	$	1.287590	19,839.889
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.875360	$	1.037518	2,141.441
Subaccount Inception Date May 1, 2002	2008	$	1.554080	$	0.875360	2,035.270
	2007	$	1.416764	$	1.554080	3,848.534
	2006	$	1.360493	$	1.416764	3,867.887
	2005	$	1.276124	$	1.360493	3,890.239
	2004	$	1.222384	$	1.276124	6,825.000
	2003	$	1.000000	$	1.222384	0.000
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012506	$	1.234764	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012506	0.000

47

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.947287	$	1.119343	9,876.554
Subaccount Inception Date May 1, 2001	2008	$	1.626993	$	0.947287	17,221.640
	2007	$	1.580442	$	1.626993	29,994.514
	2006	$	1.375912	$	1.580442	31,538.167
	2005	$	1.339719	$	1.375912	33,849.928
	2004	$	1.226890	$	1.339719	50,850.000
	2003	$	1.000000	$	1.226890	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.884499	$	1.190673	2,942.286
Subaccount Inception Date May 1, 2001	2008	$	1.497107	$	0.884499	6,365.051
	2007	$	1.342231	$	1.497107	7,911.832
	2006	$	1.375827	$	1.342231	12,350.799
	2005	$	1.220101	$	1.375827	8,714.665
	2004	$	1.147011	$	1.220101	8,114.000
	2003	$	1.000000	$	1.147011	4,850.688
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.664068	$	0.901874	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.664068	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	1.135064	$	1.509722	113,040.251
Subaccount Inception Date May 1, 2000	2008	$	2.017419	$	1.135064	126,937.425
	2007	$	1.751828	$	2.017419	181,822.799
	2006	$	1.601104	$	1.751828	190,763.830
	2005	$	1.397916	$	1.601104	197,242.139
	2004	$	1.236415	$	1.397916	180,379.000
	2003	$	1.000000	$	1.236415	0.000
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.933967	$	1.191040	80,230.223
Subaccount Inception Date May 1, 2000	2008	$	1.663539	$	0.933967	94,031.375
	2007	$	1.673199	$	1.663539	121,345.711
	2006	$	1.420893	$	1.673199	213,825.555
	2005	$	1.370739	$	1.420893	82,868.718
	2004	$	1.255168	$	1.370739	70,041.000
	2003	$	1.000000	$	1.255168	21,204.194
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.876916	$	1.101766	2,478.447
Subaccount Inception Date May 1, 2001	2008	$	1.695195	$	0.876916	15,513.409
	2007	$	1.363271	$	1.695195	40,686.806
	2006	$	1.302806	$	1.363271	36,573.526
	2005	$	1.257634	$	1.302806	42,516.277
	2004	$	1.242184	$	1.257634	26,990.000
	2003	$	1.000000	$	1.242184	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	1.460246	$	2.003663	76,735.336
Subaccount Inception Date May 1, 2000	2008	$	2.462827	$	1.460246	50,547.506
	2007	$	2.175025	$	2.462827	110,217.532
	2006	$	1.970736	$	2.175025	124,801.500
	2005	$	1.700679	$	1.970736	152,563.628
	2004	$	1.389595	$	1.700679	129,210.000
	2003	$	1.000000	$	1.389595	42,306.790
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.934769	$	1.442325	133,789.313
Subaccount Inception Date May 1, 2002	2008	$	1.954589	$	0.934769	117,525.449
	2007	$	1.888212	$	1.954589	160,714.335
	2006	$	1.657680	$	1.888212	166,765.801
	2005	$	1.648256	$	1.657680	192,080.837
	2004	$	1.474735	$	1.648256	123,665.000
	2003	$	1.000000	$	1.474735	24,005.046

48

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.85%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Franklin Income Securities Fund – Class 2	2009	$	0.668178	$	0.889558	183,588.222
Subaccount Inception Date May 1, 2007	2008	$	0.967518	$	0.668178	131,735.594
	2007	$	1.000000	$	0.967518	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.593718	$	0.734780	4,996.359
Subaccount Inception Date May 1, 2007	2008	$	0.961589	$	0.593718	6,344.889
	2007	$	1.000000	$	0.961589	12,773.602
Templeton Foreign Securities Fund – Class 2	2009	$	0.623923	$	0.839500	185,896.399
Subaccount Inception Date May 1, 2007	2008	$	1.065918	$	0.623923	702.992
	2007	$	1.000000	$	1.065918	13,322.162
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.989834	$	1.262175	1,235.871
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.989834	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	1.195174	$	1.694991	1,779.275
Subaccount Inception Date October 9, 2000	2008	$	2.168407	$	1.195174	1,691.405
	2007	$	1.814283	$	2.168407	3,194.941
	2006	$	1.630786	$	1.814283	3,210.449
	2005	$	1.482557	$	1.630786	3,229.563
	2004	$	1.253410	$	1.482557	789.000
	2003	$	1.000000	$	1.253410	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.886546	$	1.196010	99,830.825
Subaccount Inception Date October 9, 2000	2008	$	1.636153	$	0.886546	18,788.535
	2007	$	1.523906	$	1.636153	26,945.989
	2006	$	1.315978	$	1.523906	3,955.029
	2005	$	1.269574	$	1.315978	3,981.481
	2004	$	1.237113	$	1.269574	5,092.000
	2003	$	1.000000	$	1.237113	0.000
MFS ® New Discovery Series – Service Class	2009	$	0.902888	$	1.444279	15,951.454
Subaccount Inception Date May 1, 2002	2008	$	1.520616	$	0.902888	19,241.726
	2007	$	1.514812	$	1.520616	36,030.660
	2006	$	1.366114	$	1.514812	33,089.842
	2005	$	1.324659	$	1.366114	33,972.331
	2004	$	1.270349	$	1.324659	23,899.000
	2003	$	1.000000	$	1.270349	7,871.853
MFS ® Total Return Series – Service Class	2009	$	1.050550	$	1.214297	98,407.955
Subaccount Inception Date May 1, 2002	2008	$	1.377544	$	1.050550	113,379.340
	2007	$	1.350032	$	1.377544	150,245.799
	2006	$	1.231764	$	1.350032	156,660.163
	2005	$	1.222715	$	1.231764	130,400.030
	2004	$	1.121697	$	1.222715	125,834.000
	2003	$	1.000000	$	1.121697	8,915.064
		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.668487	$	0.788249	28,678.835
Subaccount Inception Date May 1, 2001	2008	$	1.080043	$	0.668487	26,043.555
	2007	$	1.113336	$	1.080043	19,516.146
	2006	$	1.000000	$	1.113336	0.000
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	0.832508	$	1.022462	32,831,990.740
Subaccount Inception Date May 1, 2002	2008	$	1.077281	$	0.832508	27,859,183.695
	2007	$	1.032248	$	1.077281	9,911,600.449
	2006	$	1.000000	$	1.032248	3,970,929.972

49

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation – Growth VP – Service Class	2009	$	0.655444	$	0.834891	3,977,025.575
Subaccount Inception Date May 1, 2002	2008	$	1.106560	$	0.655444	4,730,577.793
	2007	$	1.046608	$	1.106560	4,287,595.571
	2006	$	1.000000	$	1.046608	995,971.343
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	0.798240	$	0.990521	53,604,200.097
Subaccount Inception Date May 1, 2002	2008	$	1.100000	$	0.798240	47,185,575.489
	2007	$	1.038479	$	1.100000	32,989,878.993
	2006	$	1.000000	$	1.038479	10,651,244.167
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	0.727702	$	0.914957	72,540,743.826
Subaccount Inception Date May 1, 2002	2008	$	1.103389	$	0.727702	53,967,612.228
	2007	$	1.043385	$	1.103389	41,359,455.916
	2006	$	1.000000	$	1.043385	15,858,883.434
Transamerica International Moderate Growth VP – Service Class	2009	$	0.687573	$	0.874362	12,365,816.891
Subaccount Inception Date May 1, 2006	2008	$	1.098098	$	0.687573	8,713,333.772
	2007	$	1.029432	$	1.098098	6,501,343.024
	2006	$	1.000000	$	1.029432	924,620.432
Transamerica BlackRock Global Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.201597	3,596,173.450
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	0.708289	$	0.791956	2,333,334.998
Subaccount Inception Date May 1, 2000	2008	$	1.092545	$	0.708289	1,122,070.819
	2007	$	1.064914	$	1.092545	983,966.601
	2006	$	1.000000	$	1.064914	61,452.322
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	1.000000	$	1.205357	403,876.282
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	0.639615	$	0.836507	393,492.088
Subaccount Inception Date May 1, 2002	2008	$	1.131291	$	0.639615	429,111.314
	2007	$	1.235999	$	1.131291	383,065.961
	2006	$	1.000000	$	1.235999	47,044.134
Transamerica Foxhall Emerging Markets/Pacific Rim VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.990712	$	1.009087	67,253.795
Transamerica Foxhall Global Conservative VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.995066	$	0.983383	111,904.036
Transamerica Foxhall Global Growth VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.988965	$	1.006242	3,706.193
Transamerica Foxhall Global Hard Asset VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.986569	$	0.985611	54,170.345
Transamerica Hanlon Balanced VP – Service Class
Subaccount inception Date November 19, 2009	2009	$	0.998157	$	1.020435	131,413.343
Transamerica Hanlon Growth VP – Service Class
Subaccount Inception date November 19, 2009	2009	$	0.996395	$	1.021103	56,168.869
Transamerica Hanlon Growth and Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.997263	$	1.022185	0.000
Transamerica Hanlon Managed Income VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999954	$	1.003452	1,210,008.409
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.985153	$	1.029410	0.000

50

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.687459	$	0.874132	347,815.614
Subaccount Inception Date May 1, 1997	2008	$	1.119092	$	0.687459	345,434.301
	2007	$	1.091266	$	1.119092	6,458.304
	2006	$	1.000000	$	1.091266	3,308.600
Transamerica Jennison Growth VP – Service Class(2)	2009	$	0.680522	$	0.941418	208,693.644
Subaccount Inception Date November 20, 1996	2008	$	1.100528	$	0.680522	140,639.638
	2007	$	1.005889	$	1.100528	133,380
	2006	$	1.000000	$	1.005889	25,692.508
Transamerica Focus VP – Service Class(3)	2009	$	0.666777	$	0.836363	221,575.875
Subaccount Inception Date May 1, 2000	2008	$	1.068640	$	0.666777	218,649.796
	2007	$	1.078664	$	1.068640	181,435.623
	2006	$	1.000000	$	1.078664	93,244.423
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.776180	$	1.120823	863,904.686
Subaccount Inception Date June 2, 1998	2008	$	1.059115	$	0.776180	408,612.174
	2007	$	1.058929	$	1.059115	385,946.596
	2006	$	1.000000	$	1.058929	145,668.239
Transamerica MFS International Equity VP – Service Class	2009	$	0.718825	$	0.934669	572,957.821
Subaccount Inception Date May 1, 2001	2008	$	1.134210	$	0.718825	499,722.780
	2007	$	1.059617	$	1.134210	433,370.442
	2006	$	1.000000	$	1.059617	86,710.093
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.691418	$	0.858885	668,899.807
Subaccount Inception Date May 1, 2000	2008	$	1.194541	$	0.691418	425,265.556
	2007	$	1.011337	$	1.194541	368,276.698
	2006	$	1.000000	$	1.011337	93,652.579
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.057139	$	1.203194	6,723,271.642
Subaccount Inception Date May 1, 2002	2008	$	1.109256	$	1.057139	2,498,454.315
	2007	$	1.036920	$	1.109256	547,341.603
	2006	$	1.000000	$	1.036920	66,158.083
Transamerica ProFunds UltraBear Fund – Service Class OAM
Subaccount inception date May 1, 2009	2009	$	1.000000	$	0.561600	36,339.146
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	0.697469	$	0.858373	474,560.204
Subaccount Inception Date January 20, 1995	2008	$	1.111788	$	0.697469	425,877.360
	2007	$	1.097238	$	1.111788	341,192.065
	2006	$	1.000000	$	1.097238	47,887.878
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.655934	$	0.921737	336,216.841
Subaccount Inception Date January 5, 1995	2008	$	1.160230	$	0.655934	128,217.546
	2007	$	1.076644	$	1.160230	134,250
	2006	$	1.000000	$	1.076644	47,308.855
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	0.635650	$	0.864603	525,139.979
Subaccount Inception Date May 1, 2000	2008	$	1.016578	$	0.635650	290,417.279
	2007	$	0.946210	$	1.016578	217,418.369
	2006	$	1.000000	$	0.946210	7,155.051
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.671308	$	0.843895	1,137,473.926
Subaccount Inception Date May 1, 2000	2008	$	1.215207	$	0.671308	128,156.594
	2007	$	1.074942	$	1.215207	112,008.614
	2006	$	1.000000	$	1.074942	0.000
Transamerica Efficient Markets VP – Service Class	2009	$	1.036556	$	1.201275	78,807.415
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.036556	0.000

51

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Balanced VP – Service Class(6)	2009	$	0.758114	$	0.938809	1,041,087.087
Subaccount Inception Date May 1, 2002	2008	$	1.143549	$	0.758114	446,753.985
	2007	$	1.025873	$	1.143549	306,556.463
	2006	$	1.000000	$	1.025873	20,925.563
Transamerica Convertible Securities VP – Service Class	2009	$	0.714117	$	0.920995	424,103.009
Subaccount Inception Date May 1, 2002	2008	$	1.152836	$	0.714117	247,413.176
	2007	$	0.991257	$	1.152836	283,945.085
	2006	$	1.000000	$	0.991257	38,696.224
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	0.610130	$	0.773299	99,925.063
Subaccount Inception Date May 1, 2000	2008	$	1.152912	$	0.610130	134,522.022
	2007	$	1.010483	$	1.152912	90,425.642
	2006	$	1.000000	$	1.010483	8,971.277
Transamerica Growth Opportunities VP – Service Class	2009	$	0.670705	$	0.900335	354,237.674
Subaccount Inception Date May 1, 2001	2008	$	1.157481	$	0.670705	37,875.860
	2007	$	0.959175	$	1.157481	38,563.024
	2006	$	1.000000	$	0.959175	38,378.572
Transamerica Money Market VP – Service Class	2009	$	1.055058	$	1.037558	5,206,256.150
Subaccount Inception Date July 5, 1994	2008	$	1.050319	$	1.055058	10,380,130.853
	2007	$	1.019675	$	1.050319	2,769,227.153
	2006	$	1.000000	$	1.019675	469,138.652
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.636390	$	0.987985	192,382.603
Subaccount Inception Date May 1, 2001	2008	$	1.265991	$	0.636390	49,991.221
	2007	$	0.971784	$	1.265991	35,174.478
	2006	$	1.000000	$	0.971784	37,561.641
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.660241	$	0.927726	350,757.384
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.660241	253,859.108
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.140067	$	1.168061	3,456,286.339
Subaccount Inception Date August 3, 1994	2008	$	1.079456	$	1.140067	1,422,883.555
	2007	$	1.037892	$	1.079456	115,935.315
	2006	$	1.000000	$	1.037892	7,992.854
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.714488	$	0.865150	1,509,057.841
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.714488	38,095.981
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999954	$	0.998015	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.816736	$	0.935839	748,782.638
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.816736	266,216.046
Transamerica Index 75 VP – Service Class	2009	$	0.720815	$	0.873054	5,259,673.885
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.720815	779,065.245
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999954	$	1.023968	2,721.925
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	0.717685	$	0.886892	1,005,468.530
Subaccount Inception Date July 5, 1994	2008	$	1.197548	$	0.717685	785,316.171
	2007	$	1.056631	$	1.197548	669,723.474
	2006	$	1.000000	$	1.056631	137,538.568
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.645728	$	0.921209	1,143,330.242
Subaccount Inception Date July 5, 1994	2008	$	1.136350	$	0.645728	658,843.227
	2007	$	1.060888	$	1.136350	45,350.521
	2006	$	1.000000	$	1.060888	0.000

52

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class(10)	2009	$	0.628577	$	0.989658	275,521.723
Subaccount Inception Date May 1, 2001	2008	$	1.193621	$	0.628577	167,256.060
	2007	$	0.993158	$	1.193621	75,807.290
	2006	$	1.000000	$	0.993158	5,351.076
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.140067	$	1.168061	366,923.232
Subaccount Inception Date November 3, 2003	2008	$	1.079456	$	1.140067	575,634.300
	2007	$	1.037892	$	1.079456	0.000
	2006	$	1.000000	$	1.037892	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.500229	$	0.726689	148,627.255
Subaccount Inception Date May 1, 2002	2008	$	1.057839	$	0.500229	7,197.074
	2007	$	1.061450	$	1.057839	0.000
	2006	$	1.000000	$	1.061450	0.000
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.610681	$	0.724882	107,629.898
Subaccount Inception Date May 1, 2002	2008	$	1.082576	$	0.610681	79,884.701
	2007	$	0.985459	$	1.082576	48,043.714
	2006	$	1.000000	$	0.985459	0.000
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012714	$	1.236838	240,848.455
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012714	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.664713	$	0.786609	366,631.751
Subaccount Inception Date May 1, 2001	2008	$	1.139956	$	0.664713	382,491.275
	2007	$	1.105703	$	1.139956	384,039.487
	2006	$	1.000000	$	1.105703	14,831.304
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.654092	$	0.881799	138,678.643
Subaccount Inception Date May 1, 2001	2008	$	1.105472	$	0.654092	62,219.359
	2007	$	0.989629	$	1.105472	74,296.581
	2006	$	1.000000	$	0.989629	57,798.775
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.664725	$	0.904091	917,997.573
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.664725	64,280.341
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.667524	$	0.889158	1,932,025.044
Subaccount Inception Date May 1, 2000	2008	$	1.184684	$	0.667524	1,780,089.552
	2007	$	1.027191	$	1.184684	1,228,445.617
	2006	$	1.000000	$	1.027191	242,225.224
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.616816	$	0.787750	214,300.604
Subaccount Inception Date May 1, 2000	2008	$	1.097011	$	0.616816	262,554.040
	2007	$	1.101740	$	1.097011	232,994.320
	2006	$	1.000000	$	1.101740	0.000
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.651963	$	0.820340	363,435.114
Subaccount Inception Date May 1, 2001	2008	$	1.258464	$	0.651963	298,156.996
	2007	$	1.010566	$	1.258464	82,574.695
	2006	$	1.000000	$	1.010566	36,599.623
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	0.661245	$	0.908666	1,013,808.216
Subaccount Inception Date May 1, 2000	2008	$	1.113602	$	0.661245	733,394.285
	2007	$	0.982004	$	1.113602	637,448.174
	2006	$	1.000000	$	0.982004	110,511.782
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.526557	$	0.813664	440,228.339
Subaccount Inception Date May 1, 2002	2008	$	1.099391	$	0.526557	414,443.851
	2007	$	1.060474	$	1.099391	159,724.870
	2006	$	1.000000	$	1.060474	21,771.278
Franklin Income Securities Fund – Class 2	2009	$	0.669833	$	0.893086	1,900,072.534
Subaccount Inception Date May 1, 2007	2008	$	0.968475	$	0.669833	1,354,399.684
	2007	$	1.000000	$	0.968475	656,829.077

53

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.70%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Mutual Shares Securities Fund – Class 2	2009	$	0.595191	$	0.737697	679,484.895
Subaccount Inception Date May 1, 2007	2008	$	0.962542	$	0.595191	677,267.432
	2007	$	1.000000	$	0.962542	442,275.796
Templeton Foreign Securities Fund – Class 2	2009	$	0.625466	$	0.842826	1,107,019.661
Subaccount Inception Date May 1, 2007	2008	$	1.066974	$	0.625466	660,223.309
	2007	$	1.000000	$	1.066974	303,752.013
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.990039	$	1.264301	1,100,688.843
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	0.990039	9,730.069
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.692757	$	0.983918	247,056.568
Subaccount Inception Date October 9, 2000	2008	$	1.255004	$	0.692757	168,440.473
	2007	$	1.048491	$	1.255004	124,949.696
	2006	$	1.000000	$	1.048491	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.646052	$	0.872856	243,199.759
Subaccount Inception Date October 9, 2000	2008	$	1.190543	$	0.646052	108,637.236
	2007	$	1.107223	$	1.190543	106,701.264
	2006	$	1.000000	$	1.107223	1,406.919
MFS ® New Discovery Series – Service Class	2009	$	0.602040	$	0.964471	251,340.364
Subaccount Inception Date May 1, 2002	2008	$	1.012433	$	0.602040	124,274.333
	2007	$	1.007074	$	1.012433	85,746.349
	2006	$	1.000000	$	1.007074	0.000
MFS ® Total Return Series – Service Class	2009	$	0.834998	$	0.966566	679,769.137
Subaccount Inception Date May 1, 2002	2008	$	1.093271	$	0.834998	569,824.074
	2007	$	1.069851	$	1.093271	194,515.470
	2006	$	1.000000	$	1.069851	6,297.165
American Funds – Asset Allocation Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.989776	$	1.007931	78,055.631
American Funds – Bond Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	1.000897	$	0.993644	63,418.369
American Funds – Growth Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986479	$	1.002789	0.000
American Funds – Growth-Income Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.986801	$	1.008181	0.000
American Funds – International Fund – Class 2
Subaccount inception date November 19, 2009	2009	$	0.982910	$	0.980303	0.000
GE Investments Total Return Fund – Class 3
Subaccount inceptiond date November 19, 2009	2009	$	0.988808	$	1.003571	0.000
		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Service Class(1)	2009	$	0.992161	$	1.170486	60,570.125
Subaccount Inception Date May 1, 2001	2008	$	1.602180	$	0.992161	65,189.273
	2007	$	1.650762	$	1.602180	94,848.712
	2006	$	1.404790	$	1.650762	366,576
	2005	$	1.375209	$	1.404790	72,712.700
	2004	$	1.230438	$	1.375209	492,352.000
	2003	$	1.000000	$	1.230438	15,375.756

54

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation – Conservative VP – Service Class	2009	$	1.114647	$	1.369643	4,912,638.287
Subaccount Inception Date May 1, 2002	2008	$	1.441652	$	1.114647	5,122,755.897
	2007	$	1.380694	$	1.441652	5,058,972
	2006	$	1.285855	$	1.380694	5,731,875.609
	2005	$	1.244663	$	1.285855	5,311,608.574
	2004	$	1.156053	$	1.244663	1,754,171.000
	2003	$	1.000000	$	1.156053	306,346.159
Transamerica Asset Allocation – Growth VP – Service Class	2009	$	1.092998	$	1.392921	1,787,349.333
Subaccount Inception Date May 1, 2002	2008	$	1.844349	$	1.092998	2,340,011.057
	2007	$	1.743593	$	1.844349	2,892,235.945
	2006	$	1.537391	$	1.743593	3,255,748.077
	2005	$	1.396201	$	1.537391	2,727,896.863
	2004	$	1.246057	$	1.396201	1,258,003.000
	2003	$	1.000000	$	1.246057	96,224.296
Transamerica Asset Allocation – Moderate VP – Service Class	2009	$	1.142535	$	1.418449	9,175,189.432
Subaccount Inception Date May 1, 2002	2008	$	1.573670	$	1.142535	9,682,889.469
	2007	$	1.484939	$	1.573670	14,031,740.906
	2006	$	1.357190	$	1.484939	18,165,656.265
	2005	$	1.287710	$	1.357190	15,833,341.165
	2004	$	1.177954	$	1.287710	6,397,712.000
	2003	$	1.000000	$	1.177954	656,616.562
Transamerica Asset Allocation – Moderate Growth VP – Service Class	2009	$	1.128996	$	1.420209	7,038,351.570
Subaccount Inception Date May 1, 2002	2008	$	1.711018	$	1.128996	7,463,387.327
	2007	$	1.617168	$	1.711018	13,361,405.235
	2006	$	1.447775	$	1.617168	16,878,947.181
	2005	$	1.341392	$	1.447775	12,973,204.806
	2004	$	1.204992	$	1.341392	3,814,143.000
	2003	$	1.000000	$	1.204992	489,410.694
Transamerica International Moderate Growth VP – Service Class	2009	$	0.688460	$	0.875915	402,773.383
Subaccount Inception Date May 1, 2006	2008	$	1.098976	$	0.688460	936,958.515
	2007	$	1.029756	$	1.098976	979,785.327
	2006	$	1.000000	$	1.029756	143,012.386
Transamerica BlackRock Large Cap Value VP – Service Class(1)	2009	$	1.269834	$	1.420531	145,754.278
Subaccount Inception Date May 1, 2000	2008	$	1.957760	$	1.269834	53,071.857
	2007	$	1.907300	$	1.957760	118,716.618
	2006	$	1.662395	$	1.907300	52,359.747
	2005	$	1.460054	$	1.662395	68,107.397
	2004	$	1.257816	$	1.460054	28,868.000
	2003	$	1.000000	$	1.257816	0.000
Transamerica Clarion Global Real Estate Securities VP – Service Class	2009	$	1.329450	$	1.739527	62,218.817
Subaccount Inception Date May 1, 2002	2008	$	2.350276	$	1.329450	163,852.733
	2007	$	2.566554	$	2.350276	332,653.015
	2006	$	1.838266	$	2.566554	293,705.346
	2005	$	1.650890	$	1.838266	100,705.441
	2004	$	1.266597	$	1.650890	180,655.000
	2003	$	1.000000	$	1.266597	38,980.275
Transamerica JPMorgan Enhanced Index VP – Service Class	2009	$	0.958056	$	1.218801	38,105.202
Subaccount Inception Date May 1, 1997	2008	$	1.558815	$	0.958056	62,710.633
	2007	$	1.519307	$	1.558815	63,329.968
	2006	$	1.343303	$	1.519307	86,719.751
	2005	$	1.323097	$	1.343303	52,059.243
	2004	$	1.214901	$	1.323097	23,032.000
	2003	$	1.000000	$	1.214901	0.000

55

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Jennison Growth VP – Service Class(2)	2009	$	0.973484	$	1.347358	0.000
Subaccount Inception Date November 20, 1996	2008	$	1.573519	$	0.973484	0.000
	2007	$	1.437497	$	1.573519	0.000
	2006	$	1.438145	$	1.437497	2,898.638
	2005	$	1.287705	$	1.438145	3,048.797
	2004	$	1.202386	$	1.287705	415,456.000
	2003	$	1.000000	$	1.202386	0.000
Transamerica Focus VP – Service Class(3)	2009	$	1.004173	$	1.260189	15,860.084
Subaccount Inception Date May 1, 2000	2008	$	1.608596	$	1.004173	20,730.173
	2007	$	1.622880	$	1.608596	78,341.677
	2006	$	1.394493	$	1.622880	199,631.372
	2005	$	1.365470	$	1.394493	143,205.778
	2004	$	1.274668	$	1.365470	209,317.000
	2003	$	1.000000	$	1.274668	20,127.313
Transamerica AEGON High Yield Bond VP – Service Class(4)	2009	$	0.931352	$	1.345574	266,035.622
Subaccount Inception Date June 2, 1998	2008	$	1.270217	$	0.931352	309,170.455
	2007	$	1.269362	$	1.270217	153,336.262
	2006	$	1.166419	$	1.269362	180,911.718
	2005	$	1.168067	$	1.166419	192,415.190
	2004	$	1.084337	$	1.168067	343,085.000
	2003	$	1.000000	$	1.084337	155,172.512
Transamerica MFS International Equity VP – Service Class	2009	$	1.280161	$	1.665369	118,086.040
Subaccount Inception Date May 1, 2001	2008	$	2.018919	$	1.280161	144,164.740
	2007	$	1.885226	$	2.018919	206,064.563
	2006	$	1.558941	$	1.885226	286,232.694
	2005	$	1.409527	$	1.558941	277,604.699
	2004	$	1.254357	$	1.409527	238,529.000
	2003	$	1.000000	$	1.254357	56,673.320
Transamerica Marsico Growth VP – Service Class(2)	2009	$	0.988251	$	1.228206	35,189.777
Subaccount Inception Date May 1, 2000	2008	$	1.706528	$	0.988251	67,234.914
	2007	$	1.444093	$	1.706528	127,349.721
	2006	$	1.395883	$	1.444093	144,173.365
	2005	$	1.311195	$	1.395883	129,789.295
	2004	$	1.189769	$	1.311195	262,709.000
	2003	$	1.000000	$	1.189769	26,716.699
Transamerica PIMCO Total Return VP – Service Class	2009	$	1.083573	$	1.233892	1,193,518.388
Subaccount Inception Date May 1, 2002	2008	$	1.136434	$	1.083573	707,296.029
	2007	$	1.061801	$	1.136434	510,606.303
	2006	$	1.038779	$	1.061801	448,615.800
	2005	$	1.034840	$	1.038779	401,940.145
	2004	$	1.009392	$	1.034840	380,776.000
	2003	$	1.000000	$	1.009392	183,885.849
Transamerica T. Rowe Price Equity Income VP – Service Class(1)	2009	$	1.039653	$	1.280140	144,444.228
Subaccount Inception Date January 20, 1995	2008	$	1.656419	$	1.039653	154,647.024
	2007	$	1.633929	$	1.656419	293,482.622
	2006	$	1.399089	$	1.633929	411,937.737
	2005	$	1.369959	$	1.399089	184,269.716
	2004	$	1.215594	$	1.369959	52,422.000
	2003	$	1.000000	$	1.215594	18,296.861

56

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Growth Stock VP – Service Class(2)	2009	$	0.923050	$	1.297737	103,387.883
Subaccount Inception Date January 5, 1995	2008	$	1.631906	$	0.923050	108,896.702
	2007	$	1.513603	$	1.631906	169,773.316
	2006	$	1.359854	$	1.513603	151,233.165
	2005	$	1.305262	$	1.359854	196,567.508
	2004	$	1.211056	$	1.305262	52,944.000
	2003	$	1.000000	$	1.211056	0.000
Transamerica T. Rowe Price Small Cap VP – Service Class	2009	$	1.070714	$	1.457091	150,065.517
Subaccount Inception Date May 1, 2000	2008	$	1.711527	$	1.070714	196,757.050
	2007	$	1.592266	$	1.711527	277,165.046
	2006	$	1.566167	$	1.592266	303,947.797
	2005	$	1.441997	$	1.566167	234,156.332
	2004	$	1.331180	$	1.441997	207,470.000
	2003	$	1.000000	$	1.331180	38,917.197
Transamerica Templeton Global VP – Service Class(5)	2009	$	0.832226	$	1.046700	257,960.834
Subaccount Inception Date May 1, 2000	2008	$	1.505764	$	0.832226	54,525.001
	2007	$	1.331314	$	1.505764	122,615.566
	2006	$	1.142459	$	1.331314	115,352.864
	2005	$	1.082954	$	1.142459	282,204.550
	2004	$	1.205139	$	1.082954	56,317.000
	2003	$	1.000000	$	1.205139	934.640
Transamerica Efficient Markets VP – Service Class	2009	$	1.036627	$	1.201944	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.036627	0.000
Transamerica Balanced VP – Service Class(1)	2009	$	1.004336	$	1.244313	110,442.244
Subaccount Inception Date May 1, 2002	2008	$	1.514207	$	1.004336	47,719.643
	2007	$	1.357724	$	1.514207	46,649.272
	2006	$	1.269134	$	1.357724	31,059.632
	2005	$	1.196794	$	1.269134	22,174.430
	2004	$	1.097257	$	1.196794	20,339.000
	2003	$	1.000000	$	1.097257	23,100.100
Transamerica Convertible Securities VP – Service Class	2009	$	1.024879	$	1.322453	1,194,636.479
Subaccount Inception Date May 1, 2002	2008	$	1.653702	$	1.024879	1,355,982.617
	2007	$	1.421220	$	1.653702	1,414,118.156
	2006	$	1.305556	$	1.421220	1430856.650
	2005	$	1.281643	$	1.305556	1,360,457.255
	2004	$	1.153019	$	1.281643	640,111.000
	2003	$	1.000000	$	1.153019	18,759.819
Transamerica WMC Diversified Growth VP – Service Class(7)	2009	$	1.014355	$	1.286249	261,328.929
Subaccount Inception Date May 1, 2000	2008	$	1.915788	$	1.014355	271,067.601
	2007	$	1.678298	$	1.915788	273,483
	2006	$	1.573974	$	1.678298	349,258.818
	2005	$	1.375901	$	1.573974	648,105.161
	2004	$	1.209695	$	1.375901	626,065.000
	2003	$	1.000000	$	1.209695	104,864.450
Transamerica Growth Opportunities VP – Service Class	2009	$	1.180645	$	1.585634	23,231.126
Subaccount Inception Date May 1, 2001	2008	$	2.036509	$	1.180645	64,515.110
	2007	$	1.686766	$	2.036509	150,043.215
	2006	$	1.634483	$	1.686766	161,632.736
	2005	$	1.433086	$	1.634483	610,130.495
	2004	$	1.250384	$	1.433086	105,738.000
	2003	$	1.000000	$	1.250384	5,210.598

57

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Money Market VP – Service Class	2009	$	1.057122	$	1.040052	818,260.607
Subaccount Inception Date July 5, 1994	2008	$	1.051848	$	1.057122	2,866,311.114
	2007	$	1.020645	$	1.051848	2,581,105.521
	2006	$	0.993042	$	1.020645	3096193.112
	2005	$	0.983543	$	0.993042	1,646,772.784
	2004	$	0.992339	$	0.983543	1,100,594.000
	2003	$	1.000000	$	0.992339	333,610.609
Transamerica Science & Technology VP – Service Class(5)	2009	$	0.898858	$	1.396156	16,036.026
Subaccount Inception Date May 1, 2001	2008	$	1.787241	$	0.898858	0.000
	2007	$	1.371232	$	1.787241	247,052.361
	2006	$	1.383253	$	1.371232	33,552.308
	2005	$	1.380367	$	1.383253	62,849.089
	2004	$	1.304621	$	1.380367	56,860.000
	2003	$	1.000000	$	1.304621	0.000
Transamerica Small/Mid Cap Value VP – Service Class	2009	$	0.660541	$	0.928586	3,971.414
Subaccount Inception Date July 5, 1994	2008	$	1.000000	$	0.660541	0.000
Transamerica U.S. Government Securities VP – Service Class	2009	$	1.126684	$	1.154918	560,870.148
Subaccount Inception Date August 3, 1994	2008	$	1.066255	$	1.126684	768,113.295
	2007	$	1.024700	$	1.066255	361,405.868
	2006	$	1.010644	$	1.024700	262,049.585
	2005	$	1.007306	$	1.010644	292,876.039
	2004	$	0.995091	$	1.007306	151,064.000
	2003	$	1.000000	$	0.995091	225,309.984
Transamerica Value Balanced VP – Service Class(6)	2009	$	0.714712	$	0.865845	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.714712	0.000
Transamerica Index 50 VP – Service Class	2009	$	0.817007	$	0.936613	0.000
May 1, 2008	2008	$	1.000000	$	0.817007	0.000
Transamerica Index 75 VP – Service Class	2009	$	0.721052	$	0.873783	0.000
May 1, 2008	2008	$	1.000000	$	0.721052	0.000
Transamerica Morgan Stanley Active International Allocation VP – Service Class(8)	2009	$	1.375634	$	1.700800	75,665.827
Subaccount Inception Date July 5, 1994	2008	$	2.294266	$	1.375634	140,547.809
	2007	$	2.023287	$	2.294266	350,688.136
	2006	$	1.669500	$	2.023287	378,566.686
	2005	$	1.493653	$	1.669500	208,736.545
	2004	$	1.312150	$	1.493653	285,890.000
	2003	$	1.000000	$	1.312150	18,343.025
Transamerica Multi Managed Large Cap Core VP – Service Class(9)	2009	$	0.901309	$	1.286458	124,802.174
Subaccount Inception Date July 5, 1994	2008	$	1.585327	$	0.901309	26,376.503
	2007	$	1.479328	$	1.585327	35,284.125
	2006	$	1.366206	$	1.479328	71,609.191
	2005	$	1.272601	$	1.366206	121,512.649
	2004	$	1.149629	$	1.272601	99,596.000
	2003	$	1.000000	$	1.149629	0.000
Transamerica Morgan Stanley Mid-Cap Growth VP – Service Class (10)	2009	$	0.901458	$	1.419987	55,188.181
Subaccount Inception Date May 1, 2001	2008	$	1.710951	$	0.901458	89,193.669
	2007	$	1.422904	$	1.710951	59,139.632
	2006	$	1.319748	$	1.422904	81,154.272
	2005	$	1.250057	$	1.319748	68,240.988
	2004	$	1.188546	$	1.250057	43,349.000
	2003	$	1.000000	$	1.188546	4,750.474

58

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.126684	$	1.154918	1,658,881.249
Subaccount Inception Date November 3, 2003	2008	$	1.066255	$	1.126684	3,182,166.702
	2007	$	1.024700	$	1.066255	44,134.540
	2006	$	1.010644	$	1.024700	0.000
	2005	$	1.007306	$	1.010644	0.000
	2004	$	0.995091	$	1.007306	30,609.000
	2003	$	1.000000	$	0.995091	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.588477	$	0.855291	172,689.906
Subaccount Inception Date May 1, 2002	2008	$	1.243830	$	0.588477	487,603.207
	2007	$	1.247452	$	1.243830	686,147.304
	2006	$	1.122690	$	1.247452	992,629.057
	2005	$	1.082408	$	1.122690	1,166,614.220
	2004	$	0.992723	$	1.082408	1,231,735.000
	2003	$	0.757050	$	0.992723	1,254,260.8415
	2002	$	1.000000	$	0.757050	1,003,800.155
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.728156	$	0.864752	80,741.469
Subaccount Inception Date May 1, 2002	2008	$	1.290182	$	0.728156	101,140.098
	2007	$	1.173854	$	1.290182	119,434.702
	2006	$	1.125019	$	1.173854	184,472.830
	2005	$	1.053179	$	1.125019	130,776.757
	2004	$	1.006847	$	1.053179	166,844.000
	2003	$	0.792246	$	1.006847	195,885.874
	2002	$	1.000000	$	0.792246	93,051.475
AllianceBernstein Balanced Wealth Strategy Portfolio – Class B	2009	$	1.012783	$	1.237531	0.000
Subaccount Inception Date November 10, 2008	2008	$	1.000000	$	1.012783	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.716828	$	0.848695	422,550.759
Subaccount Inception Date May 1, 2001	2008	$	1.228748	$	0.716828	1,187,145.326
	2007	$	1.191237	$	1.228748	1,492,818.757
	2006	$	1.035043	$	1.191237	2,165,164.853
	2005	$	1.005840	$	1.035043	2,710,964.858
	2004	$	0.919316	$	1.005840	2,861,924.000
	2003	$	0.706941	$	0.919316	3,274,904.979
	2002	$	0.924456	$	0.706941	3,412,179.268
	2001	$	1.000000	$	0.924456	2,100,221.216
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.549095	$	0.740617	223,759.659
Subaccount Inception Date May 1, 2001	2008	$	0.927557	$	0.549095	384,688.625
	2007	$	0.829949	$	0.927557	462,151.848
	2006	$	0.849042	$	0.829949	858,080.426
	2005	$	0.751468	$	0.849042	896,236.648
	2004	$	0.705069	$	0.751468	935,900.000
	2003	$	0.580946	$	0.705069	956,802.626
	2002	$	0.853898	$	0.580946	977,257.596
	2001	$	1.000000	$	0.853898	502,759,851
Fidelity VIP Balanced Portfolio – Service Class 2	2009	$	0.664950	$	0.904846	0.000
Subaccount Inception Date May 1, 2008	2008	$	1.000000	$	0.664950	0.000

59

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.824553	$	1.098878	7,154,851.029
Subaccount Inception Date May 1, 2000	2008	$	1.462643	$	0.824553	7,982,893.783
	2007	$	1.267582	$	1.462643	9,394,980.015
	2006	$	1.156256	$	1.267582	12,332,579.646
	2005	$	1.007547	$	1.156256	12,946,092.441
	2004	$	0.889389	$	1.007547	11,185,879.000
	2003	$	0.705209	$	0.889389	11,043,294.566
	2002	$	0.793026	$	0.705209	8,369,366.786
	2001	$	0.921032	$	0.793026	3,181,951.082
	2000	$	1.000000	$	0.921032	905,751.342
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.790655	$	1.010262	984,823.807
Subaccount Inception Date May 1, 2000	2008	$	1.405491	$	0.790655	2,081,446.625
	2007	$	1.410854	$	1.405491	2,519,117.666
	2006	$	1.195759	$	1.410854	3,687,744.038
	2005	$	1.151310	$	1.195759	3,840,173.981
	2004	$	1.052163	$	1.151310	4,404,731.000
	2003	$	0.822512	$	1.052163	4,183,621.596
	2002	$	1.009197	$	0.822512	3,647,123.191
	2001	$	1.082527	$	1.009197	1,646,698.434
	2000	$	1.000000	$	1.082527	248,503.974
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.552290	$	0.695259	593,690.524
Subaccount Inception Date May 1, 2001	2008	$	1.065547	$	0.552290	927,124.381
	2007	$	0.855221	$	1.065547	1,032,876.591
	2006	$	0.815687	$	0.855221	1,721,144.115
	2005	$	0.785870	$	0.815687	2,404,844.956
	2004	$	0.774687	$	0.785870	4,355,705.000
	2003	$	0.594116	$	0.774687	4,619,609.096
	2002	$	0.866432	$	0.594116	4,275,755.599
	2001	$	1.000000	$	0.866432	447,911.910
Fidelity VIP Growth Opportunities Portfolio – Service Class 2	2009	$	0.430897	$	0.616620	74,157.523
Subaccount Inception Date May 1, 2000	2008	$	0.976401	$	0.430897	106,228.385
	2007	$	0.807604	$	0.976401	118,705.896
	2006	$	0.780921	$	0.807604	139,315.397
	2005	$	0.730396	$	0.780921	159,951.180
	2004	$	0.394612	$	0.730396	229,436.000
	2003	$	0.545616	$	0.394612	305,580.826
	2002	$	0.711125	$	0.545616	405,195.634
	2001	$	0.846932	$	0.711125	471,916.204
	2000	$	1.000000	$	0.846932	315,088.251
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	1.349336	$	1.855115	3,181,919.737
Subaccount Inception Date May 1, 2000	2008	$	2.271284	$	1.349336	5,230,196.469
	2007	$	2.001900	$	2.271284	6,859,195.465
	2006	$	1.810309	$	2.001900	9,519,029.718
	2005	$	1.559181	$	1.810309	10,808,650.447
	2004	$	1.271464	$	1.559181	11,302,961.000
	2003	$	0.934838	$	1.271464	11,797,256.740
	2002	$	1.056151	$	0.934838	11,119,727.497
	2001	$	1.112803	$	1.056151	3,679,109.250
	2000	$	1.000000	$	1.112803	2,963,799.310

60

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.740746	$	1.145202	1,743,605.916
Subaccount Inception Date May 1, 2002	2008	$	1.545817	$	0.740746	3,033,707.801
	2007	$	1.490367	$	1.545817	3,606,595.948
	2006	$	1.305847	$	1.490367	4,766,795.720
	2005	$	1.295883	$	1.305847	5,239,413.070
	2004	$	1.157177	$	1.295883	5,572,327.000
	2003	$	0.747462	$	1.157177	5,139,439.175
	2002	$	1.000000	$	0.747462	2,909,201.745
Franklin Income Securities Fund – Class 2	2009	$	0.670389	$	0.894268	1,286,158.746
Subaccount Inception Date May 1, 2007	2008	$	0.968794	$	0.670389	495,848.543
	2007	$	1.000000	$	0.968794	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.595677	$	0.738651	279,220.697
Subaccount Inception Date May 1, 2007	2008	$	0.962851	$	0.595677	428,919.031
	2007	$	1.000000	$	0.962851	516,972.664
Templeton Foreign Securities Fund – Class 2	2009	$	0.625977	$	0.843928	772,731.485
Subaccount Inception Date May 1, 2007	2008	$	1.067319	$	0.625977	313,543.636
	2007	$	1.000000	$	1.067319	581,359.124
Franklin Templeton VIP Founding Funds Allocation Fund – Class 4	2009	$	0.990107	$	1.265010	5,753.028
November 10, 2008	2008	$	1.000000	$	0.990107	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.395914	$	0.562599	674,811.391
Subaccount Inception Date October 9, 2000	2008	$	0.716875	$	0.395914	919,318.124
	2007	$	0.598622	$	0.716875	1,057,678.007
	2006	$	0.537021	$	0.598622	1,022,825.324
	2005	$	0.487253	$	0.537021	1,306,600.409
	2004	$	0.411128	$	0.487253	1,950,768.000
	2003	$	0.310104	$	0.411128	2,333,284.441
	2002	$	0.438542	$	0.310104	2,981,371.124
	2001	$	0.738029	$	0.438542	1,103,411.436
	2000	$	1.000000	$	0.738029	181,211,158
Janus Aspen – Perkins Mid Cap Value Portfolio – Service Shares	2009	$	0.999639	$	1.307150	87,253.727
Subaccount Inception Date October 9, 2000	2008	$	1.409366	$	0.999639	108,658.554
	2007	$	1.336873	$	1.409366	156,402.350
	2006	$	1.180964	$	1.336873	170,687.250
	2005	$	1.091239	$	1.180964	229,998.743
	2004	$	0.941673	$	1.091239	260,937.000
	2003	$	0.677839	$	0.941673	290,793.061
	2002	$	0.899778	$	0.677839	512,467.432
	2001	$	0.998370	$	0.899778	332,829.788
	2000	$	1.000000	$	0.998370	52,152.849
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.434661	$	0.587549	4,261,710.404
Subaccount Inception Date October 9, 2000	2008	$	0.800602	$	0.434661	1,469,162.162
	2007	$	0.744204	$	0.800602	2,017,402.285
	2006	$	0.641412	$	0.744204	1,816,322.478
	2005	$	0.617582	$	0.641412	1,998,931.934
	2004	$	0.600609	$	0.617582	2,197,986.000
	2003	$	0.493626	$	0.600609	5,422,331.886
	2002	$	0.675409	$	0.493626	6,042,239.890
	2001	$	0.887322	$	0.675409	1,130,009.520
	2000	$	1.000000	$	0.887322	199,940.653

61

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
MFS ® New Discovery Series – Service Class	2009	$	0.702996	$	1.126746	260,249.577
Subaccount Inception Date May 1, 2002	2008	$	1.181624	$	0.702996	100,509.764
	2007	$	1.174786	$	1.181624	227,941.936
	2006	$	1.057395	$	1.174786	252,125.681
	2005	$	1.023299	$	1.057395	223,744.655
	2004	$	0.979415	$	1.023299	507,516.000
	2003	$	0.746131	$	0.979415	252,905.234
	2002	$	1.000000	$	0.746131	88,053.024
MFS ® Total Return Series – Service Class	2009	$	0.989314	$	1.145761	3,997,110.597
Subaccount Inception Date May 1, 2002	2008	$	1.294686	$	0.989314	5,266,112.172
	2007	$	1.266326	$	1.294686	5,935,898.431
	2006	$	1.153125	$	1.266326	6,174,817.817
	2005	$	1.142421	$	1.153125	7,487,429.299
	2004	$	1.045974	$	1.142421	7,769,161.000
	2003	$	0.916538	$	1.045974	5,455,329.528
	2002	$	1.000000	$	0.916538	2,852,668.086
Transamerica American Century Large Company Value VP – Initial Class	2009	$	0.770476	$	0.910133	318,533.490
Subaccount Inception Date May 1, 2001	2008	$	1.238951	$	0.770476	522,271.391
	2007	$	1.273696	$	1.238951	889,327.976
	2006	$	1.081751	$	1.273696	1,106,478.890
	2005	$	1.055783	$	1.081751	1,090,119.813
	2004	$	0.942167	$	1.055783	1,252,503.000
	2003	$	0.743618	$	0.942167	1,279,179.374
	2002	$	0.937662	$	0.743618	1,065,886.181
	2001	$	1.000000	$	0.937662	298,410.283
Transamerica Asset Allocation – Conservative VP – Initial Class	2009	$	1.056595	$	1.301645	4,092,210.818
Subaccount Inception Date May 1, 2002	2008	$	1.362730	$	1.056595	4,324,481.770
	2007	$	1.302195	$	1.362730	4,559,401.539
	2006	$	1.209388	$	1.302195	3,950,262.173
	2005	$	1.168714	$	1.209388	5,139,406.237
	2004	$	1.082863	$	1.168714	6,043,256.000
	2003	$	0.895514	$	1.082863	3,745,811.278
	2002	$	1.000000	$	0.895514	2,904,735.182
Transamerica Asset Allocation – Growth VP – Initial Class	2009	$	0.918811	$	1.173414	9,019,004.958
Subaccount Inception Date May 1, 2002	2008	$	1.547312	$	0.918811	6,135,701.505
	2007	$	1.459780	$	1.547312	8,836,631.456
	2006	$	1.283364	$	1.459780	9,538,311.474
	2005	$	1.162218	$	1.283364	9,927,114.009
	2004	$	1.034667	$	1.162218	8,831,520.000
	2003	$	0.804077	$	1.034667	6,541,474.200
	2002	$	1.000000	$	0.804077	2,859,222.516
Transamerica Asset Allocation – Moderate VP – Initial Class	2009	$	1.046510	$	1.301334	11,363,556.425
Subaccount Inception Date May 1, 2002	2008	$	1.436940	$	1.046510	12,166,748.247
	2007	$	1.353130	$	1.436940	12,903,497.992
	2006	$	1.233773	$	1.353130	16,280,085.326
	2005	$	1.167191	$	1.233773	18,384,505.055
	2004	$	1.065126	$	1.167191	14,608,196.000
	2003	$	0.867070	$	1.065126	12,643,724.058
	2002	$	1.000000	$	0.867070	4,179,411.611

62

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Asset Allocation – Moderate Growth VP – Initial Class	2009	$	0.995303	$	1.254864	20,793,678.692
Subaccount Inception Date May 1, 2002	2008	$	1.504829	$	0.995303	15,724,985.647
	2007	$	1.418967	$	1.504829	20,753,110.812
	2006	$	1.267027	$	1.418967	21,875,335.171
	2005	$	1.171748	$	1.267027	21,767,725.511
	2004	$	1.049045	$	1.171748	16,971,950.000
	2003	$	0.838523	$	1.049045	18,238,722.797
	2002	$	1.000000	$	0.838523	5,874,308.062
Transamerica BlackRock Large Cap Value VP – Initial Class	2009	$	1.149386	$	1.288921	3,826,118.955
Subaccount Inception Date May 1, 2000	2008	$	1.767369	$	1.149386	1,015,262.667
	2007	$	1.717060	$	1.767369	1,723,077
	2006	$	1.492715	$	1.717060	2,315,953.929
	2005	$	1.308666	$	1.492715	2,131,536.600
	2004	$	1.124147	$	1.308666	1,798,706.000
	2003	$	0.880466	$	1.124147	2,349,670.149
	2002	$	1.043264	$	0.880466	2,185,519.794
	2001	$	1.080110	$	1.043264	1,443,863.482
	2000	$	1.000000	$	1.080110	319,356.559
Transamerica Clarion Global Real Estate Securities VP – Initial Class	2009	$	1.317332	$	1.729018	1,269,838.918
Subaccount Inception Date May 1, 2002	2008	$	2.324131	$	1.317332	599,168.647
	2007	$	2.532504	$	2.324131	951,110.436
	2006	$	1.809299	$	2.532504	1,559,705.399
	2005	$	1.620689	$	1.809299	1,289,401.303
	2004	$	1.240013	$	1.620689	1,511,075.000
	2003	$	0.928601	$	1.240013	1,117,207.638
	2002	$	1.000000	$	0.928601	529,237.820
Transamerica JPMorgan Enhanced Index VP – Initial Class	2009	$	1.042233	$	1.328696	1,050,365.590
Subaccount Inception Date May 1, 1997	2008	$	1.691147	$	1.042233	2,218,789.443
	2007	$	1.644580	$	1.691147	4,193,055.550
	2006	$	1.449676	$	1.644580	5,851,623.813
	2005	$	1.424267	$	1.449676	7,480,482.507
	2004	$	1.304133	$	1.424267	9,880,898.000
	2003	$	1.028077	$	1.304133	11,186,909.259
	2002	$	1.385872	$	1.028077	11,893,663.375
	2001	$	1.600648	$	1.385872	14,139,200.302
	2000	$	1.826512	$	1.600648	17,387,971.033
Transamerica Jennison Growth VP – Initial Class	2009	$	0.606699	$	0.841582	618,715.091
Subaccount Inception Date November 20, 1996	2008	$	0.979098	$	0.606699	1,111,090.070
	2007	$	0.892571	$	0.979098	1,547,113.380
	2006	$	0.889798	$	0.892571	2,137,833.553
	2005	$	0.794843	$	0.889798	2,675,778.473
	2004	$	0.740408	$	0.794843	3,298,786.000
	2003	$	0.584450	$	0.740408	3,888,476.521
	2002	$	0.857823	$	0.584450	3,985,892.254
	2001	$	1.070626	$	0.857823	4,155,595.072
	2000	$	1.230758	$	1.070626	4,248,922.404

63

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Focus VP – Initial Class	2009	$	0.813281	$	1.023386	1,490,680.417
Subaccount Inception Date May 1, 2000	2008	$	1.299237	$	0.813281	3,769,086.970
	2007	$	1.307248	$	1.299237	4,881,894.776
	2006	$	1.120778	$	1.307248	6,472,335.150
	2005	$	1.094583	$	1.120778	9,407,007.331
	2004	$	1.019502	$	1.094583	10,473,985.000
	2003	$	0.766770	$	1.019502	11,221,771.416
	2002	$	1.035304	$	0.766770	10,724,740.045
	2001	$	1.030978	$	1.035304	7,263,091.162
	2000	$	1.000000	$	1.030978	1,348,686.276
Transamerica AEGON High Yield Bond VP – Initial Class	2009	$	0.963321	$	1.395350	899,185.672
Subaccount Inception Date June 2, 1998	2008	$	1.309167	$	0.963321	1,317,420.419
	2007	$	1.306671	$	1.309167	2,338,348.372
	2006	$	1.197121	$	1.306671	2,758,581.858
	2005	$	1.195154	$	1.197121	3,228,323.815
	2004	$	1.106818	$	1.195154	4,577,669.000
	2003	$	0.955558	$	1.106818	5,300,691.125
	2002	$	0.951599	$	0.955558	3,994,850.994
	2001	$	0.932124	$	0.951599	3,672,588.987
	2000	$	0.999195	$	0.932124	3,298,537.499
Transamerica MFS International Equity VP – Initial Class	2009	$	0.812973	$	1.061168	942,876.102
Subaccount Inception Date May 1, 2001	2008	$	1.277171	$	0.812973	1,847,443.141
	2007	$	1.189488	$	1.277171	2,516,786.551
	2006	$	0.982420	$	1.189488	3,440,349.383
	2005	$	0.884758	$	0.982420	3,633,483.808
	2004	$	0.786574	$	0.884758	3,712,503.000
	2003	$	0.638142	$	0.786574	3,115,043.494
	2002	$	0.831827	$	0.638142	1,590,381.361
	2001	$	1.000000	$	0.831827	32,678.652
Transamerica Marsico Growth VP – Initial Class	2009	$	0.588397	$	0.733029	725,733.239
Subaccount Inception Date May 1, 2000	2008	$	1.012895	$	0.588397	1,059,830.035
	2007	$	0.855195	$	1.012895	1,427,236.827
	2006	$	0.825026	$	0.855195	1,388,165.855
	2005	$	0.772306	$	0.825026	1,676,152.266
	2004	$	0.699402	$	0.772306	1,639,559.000
	2003	$	0.562710	$	0.699402	1,763,185.080
	2002	$	0.772799	$	0.562710	1,711,305.448
	2001	$	0.937634	$	0.829038	482,713.287
	2000	$	1.000000	$	0.937634	76,318.561
Transamerica PIMCO Total Return VP – Initial Class	2009	$	1.178731	$	1.345550	4,431,152.343
Subaccount Inception Date May 1, 2002	2008	$	1.232649	$	1.178731	4,346,726.699
	2007	$	1.150163	$	1.232649	5,485,421.163
	2006	$	1.121860	$	1.150163	6,357,614.801
	2005	$	1.114366	$	1.121860	7,441,560.425
	2004	$	1.084069	$	1.114366	10,302,205.000
	2003	$	1.050445	$	1.084069	11,973,638.852
	2002	$	1.000000	$	1.050445	11,672,666.206

64

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Equity Income VP – Initial Class	2009	$	2.123425	$	2.619987	1,235,581.402
Subaccount Inception Date January 20, 1995	2008	$	3.371328	$	2.123425	2,964,097.170
	2007	$	3.317215	$	3.371328	5,153,195.350
	2006	$	2.834343	$	3.317215	7,431,129.154
	2005	$	2.767289	$	2.834343	10,806,042.102
	2004	$	2.450130	$	2.767289	12,505,355.000
	2003	$	1.983073	$	2.450130	13,535,732.517
	2002	$	2.312082	$	1.983073	13,877,571.208
	2001	$	2.300522	$	2.312082	14,008,510.847
	2000	$	2.082011	$	2.300522	13,878,653.721
Transamerica T. Rowe Price Growth Stock VP – Initial Class	2009	$	2.014929	$	2.840785	882,754.162
Subaccount Inception Date January 5, 1995	2008	$	3.554779	$	2.014929	1,599,200.740
	2007	$	3.287864	$	3.554779	2,842,270.957
	2006	$	2.947529	$	3.287864	4,695,344.755
	2005	$	2.822125	$	2.947529	6,735,322.560
	2004	$	2.611419	$	2.822125	8,555,124.000
	2003	$	2.030027	$	2.611419	9,187,370.333
	2002	$	2.673510	$	2.030027	9,575,773.455
	2001	$	3.021350	$	2.673510	11,697,193.658
	2000	$	3.086714	$	3.021350	14,121,742.909
Transamerica T. Rowe Price Small Cap VP – Initial Class	2009	$	0.609515	$	0.831679	917,078.990
Subaccount Inception Date May 1, 2000	2008	$	0.971981	$	0.609515	2,133,106.473
	2007	$	0.901482	$	0.971981	2,917,130.957
	2006	$	0.884586	$	0.901482	4,898,196.054
	2005	$	0.812890	$	0.884586	5,525,253.564
	2004	$	0.748717	$	0.812890	6,866,396.000
	2003	$	0.542048	$	0.748717	7,757,839.511
	2002	$	0.758423	$	0.542048	4,581,581.594
	2001	$	0.853985	$	0.758423	1,490,797.527
	2000	$	1.000000	$	0.853985	836,679.096
Transamerica Templeton Global VP – Initial Class	2009	$	0.433256	$	0.546937	7,324,839.749
Subaccount Inception Date May 1, 2000	2008	$	0.781935	$	0.433256	2,897,757.691
	2007	$	0.689737	$	0.781935	3,300,809
	2006	$	0.590182	$	0.689737	3,555,094.376
	2005	$	0.558206	$	0.590182	3,535,741.001
	2004	$	0.747851	$	0.558206	3,431,817.000
	2003	$	0.599849	$	0.747851	993,167.926
	2002	$	0.776870	$	0.599849	544,592.989
	2001	$	0.949668	$	0.776870	126,397.489
	2000	$	1.000000	$	0.949668	1,000.000
Transamerica Balanced VP – Initial Class	2009	$	0.974536	$	1.210830	397,663.261
Subaccount Inception Date May 1, 2002	2008	$	1.465524	$	0.974536	474,534.745
	2007	$	1.311405	$	1.465524	330,746.167
	2006	$	1.221526	$	1.311405	330,934.475
	2005	$	1.150057	$	1.221526	410,310.594
	2004	$	1.051755	$	1.150057	430,740.000
	2003	$	0.938664	$	1.051755	480,373.577
	2002	$	1.000000	$	0.938664	214,030.878

65

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Convertible Securities VP – Initial Class	2009	$	1.008953	$	1.303225	383,979.514
Subaccount Inception Date May 1, 2002	2008	$	1.624780	$	1.008953	489,868.775
	2007	$	1.392271	$	1.624780	616,865.970
	2006	$	1.276106	$	1.392271	635,980.915
	2005	$	1.248620	$	1.276106	631,326.559
	2004	$	1.121475	$	1.248620	966,039.000
	2003	$	0.921845	$	1.121475	717,917.875
	2002	$	1.000000	$	0.921845	109,517.234
Transamerica WMC Diversified Growth VP – Initial Class(7)	2009	$	0.563320	$	0.715964	5,228,879.007
Subaccount Inception Date May 1, 2000	2008	$	1.060596	$	0.563320	12,261,597.135
	2007	$	0.927191	$	1.060596	18,923,285.565
	2006	$	0.866901	$	0.927191	29,589,240.873
	2005	$	0.756126	$	0.866901	14,045,235.397
	2004	$	0.663714	$	0.756126	15,059,252.000
	2003	$	0.514119	$	0.663714	13,524,250.334
	2002	$	0.672098	$	0.514119	13,860,459.800
	2001	$	0.829471	$	0.672098	6,215,346.172
	2000	$	1.000000	$	0.829471	1,181,369.405
Transamerica Growth Opportunities VP – Initial Class	2009	$	1.148817	$	1.546752	618,098.201
Subaccount Inception Date May 1, 2001	2008	$	1.976281	$	1.148817	681,614.064
	2007	$	1.632247	$	1.976281	908,011
	2006	$	1.578575	$	1.632247	1,298,212.300
	2005	$	1.380498	$	1.578575	1,571,450.165
	2004	$	1.203260	$	1.380498	1,986,135.000
	2003	$	0.932156	$	1.203260	595,234.833
	2002	$	1.105816	$	0.932156	598,414.849
	2001	$	1.000000	$	1.105816	57,285.504
Transamerica Money Market VP – Initial Class	2009	$	1.355365	$	1.335075	3,312,757.850
Subaccount Inception Date July 5, 1994	2008	$	1.345657	$	1.355365	5,581,228.748
	2007	$	1.302478	$	1.345657	4,855,653.613
	2006	$	1.264107	$	1.302478	4,842,365.529
	2005	$	1.248895	$	1.264107	6,486,077.019
	2004	$	1.256917	$	1.248895	7,620,339.000
	2003	$	1.268238	$	1.256917	11,092,443.850
Transamerica Science & Technology VP – Initial Class	2009	$	0.489279	$	0.759395	605,733.493
Subaccount Inception Date May 1, 2001	2008	$	0.967574	$	0.489279	818,830.880
	2007	$	0.740928	$	0.967574	785,087.768
	2006	$	0.745624	$	0.740928	967,412.960
	2005	$	0.742579	$	0.745624	952,902.687
	2004	$	0.698551	$	0.742579	1,303,776.000
	2003	$	0.470387	$	0.698551	770,063.658
	2002	$	0.772717	$	0.470387	371,721.336
	2001	$	1.000000	$	0.772717	53.392.798
Transamerica Small/Mid Cap Value VP – Initial Class	2009	$	3.456783	$	4.870210	731,597.537
Subaccount Inception Date July 5, 1994	2008	$	5.942626	$	3.456783	1,312,501.443
	2007	$	4.843039	$	5.942626	2,459,808.906
	2006	$	4.169913	$	4.843039	3,841,758.422
	2005	$	3.732362	$	4.169913	5,424,333.908
	2004	$	3.261034	$	3.732362	6,987,862.000
	2003	$	1.737018	$	3.261034	8,463,313.859
	2002	$	2.916827	$	1.737018	10,140,901.466
	2001	$	2.302427	$	2.916827	10,496,025.501
	2000	$	2.107984	$	2.302427	11,183,856.536

66

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.65%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica U.S. Government Securities VP – Initial Class	2009	$	1.680100	$	1.726662	1,478,270.501
Subaccount Inception Date August 3, 1994	2008	$	1.586353	$	1.680100	2,564,117.468
	2007	$	1.520685	$	1.586353	3,057,723.590
	2006	$	1.496746	$	1.520685	3,432,703.460
	2005	$	1.488185	$	1.496746	4,436,021.611
	2004	$	1.464538	$	1.488185	5,866,231.000
	2003	$	1.446084	$	1.464538	8,558,140.430
	2002	$	1.389160	$	1.446084	10,798,492.580
	2001	$	1.343721	$	1.389160	10,097.516.496
	2000	$	1.239850	$	1.343721	8,324,734.085
Transamerica Morgan Stanley Active International Allocation VP – Initial Class(8)	2009	$	1.195589	$	1.480611	2,813,228.423
Subaccount Inception Date July 5, 1994	2008	$	1.986997	$	1.195589	2,860,665.267
	2007	$	1.747301	$	1.986997	4,525,420.659
	2006	$	1.438008	$	1.747301	6,381,258.270
	2005	$	1.284512	$	1.438008	8,101,758.861
	2004	$	1.125252	$	1.284512	8,990,192.000
	2003	$	0.861237	$	1.125252	9,838,449.262
	2002	$	1.054413	$	0.861237	10,643,994.382
	2001	$	1.391360	$	1.054413	12,734,394.479
	2000	$	1.730178	$	1.391360	15,678,291.165
Transamerica Multi Managed Large Cap Core VP – Initial Class(9)	2009	$	1.546049	$	2.211626	1,869,699.143
Subaccount Inception Date July 5, 1994	2008	$	2.713642	$	1.546049	1,692,997.771
	2007	$	2.525105	$	2.713642	2,967,084.000
	2006	$	2.326270	$	2.525105	4,539,237.876
	2005	$	2.161082	$	2.326270	6,125,685.582
	2004	$	1.948358	$	2.161082	7,883,481.000
	2003	$	1.635640	$	1.948358	9,184,203.186
	2002	$	1.988345	$	1.635640	10,520,153.154
	2001	$	2.174927	$	1.988345	12,715,598.918
	2000	$	2.350088	$	2.174927	14,927,120.171
Transamerica Morgan Stanley Mid-Cap Growth VP – Initial Class(10)	2009	$	0.513072	$	0.810414	557,667.973
Subaccount Inception Date May 1, 2001	2008	$	0.971097	$	0.513072	859,907.435
	2007	$	0.805667	$	0.971097	1,118,220.158
	2006	$	0.745112	$	0.805667	1,545,437.231
	2005	$	0.704207	$	0.745112	1,734,076.151
	2004	$	0.668131	$	0.704207	2,114,304.000
	2003	$	0.529946	$	0.668131	2,666,322.190
	2002	$	0.804775	$	0.529946	2,299,820.383
	2001	$	1.000000	$	0.804775	481,275.835
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993360	$	1.003010	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999955	$	0.998075	7,241.336
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999955	$	1.024027	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subacount inception date November 19, 2009	2009	$	0.985154	$	1.029468	0.000

67

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Initial Class(1)	2009	$	0.779265	$	0.921868	131,085.230
Subaccount Inception Date May 1, 2001	2008	$	1.251225	$	0.779265	221,436.470
	2007	$	1.284417	$	1.251225	269,039.596
	2006	$	1.089252	$	1.284417	299,845.289
	2005	$	1.055783	$	1.089252	281,864.247
	2004	$	0.945896	$	1.061536	286,378.000
	2003	$	0.745459	$	0.945896	299,223.110
	2002	$	0.938589	$	0.745459	355,083.343
	2001	$	1.000000	$	0.938589	157,141.008
Transamerica Asset Allocation – Conservative VP – Initial Class	2009	$	1.067017	$	1.316426	2,583,202.197
Subaccount Inception Date May 1, 2002	2008	$	1.374142	$	1.067017	2,653,275.454
	2007	$	1.311160	$	1.374142	3,459,057.783
	2006	$	1.215924	$	1.311160	3,420,820.913
	2005	$	1.173316	$	1.215924	3,340,787.058
	2004	$	1.085524	$	1.173316	6,772,717.000
	2003	$	0.896399	$	1.085524	3,668,423.606
	2002	$	1.000000	$	0.896399	1,767,196.950
Transamerica Asset Allocation – Growth VP – Initial Class	2009	$	0.927903	$	1.186779	1,388,714.748
Subaccount Inception Date May 1, 2002	2008	$	1.560311	$	0.927903	1,297,644.368
	2007	$	1.469855	$	1.560311	1,485,357.269
	2006	$	1.290319	$	1.469855	1,713,199.572
	2005	$	1.166804	$	1.290319	1,534,761.145
	2004	$	1.037216	$	1.166804	1,809,111.000
	2003	$	0.804872	$	1.037216	1,046,521.105
	2002	$	1.000000	$	0.804872	331,716.894
Transamerica Asset Allocation – Moderate VP – Initial Class	2009	$	1.056864	$	1.316161	4,147,991.862
Subaccount Inception Date May 1, 2002	2008	$	1.449009	$	1.056864	4,056,303.406
	2007	$	1.362474	$	1.449009	3,763,149.020
	2006	$	1.240469	$	1.362474	4,966,023.731
	2005	$	1.171796	$	1.240469	5,272,120.076
	2004	$	1.067759	$	1.171796	4,260,182.000
	2003	$	0.867926	$	1.067759	5,122,323.817
	2002	$	1.000000	$	0.867926	2,109,943.178
Transamerica Asset Allocation – Moderate Growth VP – Initial Class	2009	$	1.005174	$	1.269176	2,473,368.605
Subaccount Inception Date May 1, 2002	2008	$	1.517482	$	1.005174	3,003,954.969
	2007	$	1.428769	$	1.517482	3,794,143.921
	2006	$	1.273905	$	1.428769	5,649,425.511
	2005	$	1.171748	$	1.273905	7,866,915.104
	2004	$	1.051623	$	1.176374	5,542,244.000
	2003	$	0.839352	$	1.051623	8,748,000.342
	2002	$	1.000000	$	0.839352	1,349,063.139
Transamerica International Moderate Growth VP – Service Class	2009	$	0.691190	$	0.880687	261,551.879
Subaccount Inception Date May 1, 2006	2008	$	1.101698	$	0.691190	253,341
	2007	$	1.030768	$	1.101698	263,919
	2006	$	1.000000	$	1.030768	19,678.806

68

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica BlackRock Large Cap Value VP – Initial Class(1)	2009	$	1.164227	$	1.307493	1,136,339.205
Subaccount Inception Date May 1, 2000	2008	$	1.787544	$	1.164227	140,911.884
	2007	$	1.734075	$	1.787544	551,064.227
	2006	$	1.505299	$	1.734075	211,991.790
	2005	$	1.317759	$	1.505299	288,725.171
	2004	$	1.130279	$	1.317759	278,241.000
	2003	$	0.883966	$	1.130279	247,665.126
	2002	$	1.045857	$	0.883966	206,458.124
	2001	$	1.081170	$	1.045857	171,576.787
	2000	$	1.000000	$	1.081170	16,484.855
Transamerica Clarion Global Real Estate Securities VP – Initial Class	2009	$	1.330377	$	1.748721	133,300.161
Subaccount Inception Date May 1, 2002	2008	$	2.343666	$	1.330377	197,207.571
	2007	$	2.550004	$	2.343666	420,537.891
	2006	$	1.819127	$	2.550004	550,957.069
	2005	$	1.627102	$	1.819127	498,416.601
	2004	$	1.243075	$	1.627102	546,761.000
	2003	$	0.929516	$	1.243075	411,080.615
	2002	$	1.000000	$	0.929516	163,787.239
Transamerica JPMorgan Enhanced Index VP – Initial Class	2009	$	1.060014	$	1.353369	192,323.651
Subaccount Inception Date May 1, 1997	2008	$	1.717450	$	1.060014	472,671.914
	2007	$	1.667686	$	1.717450	994,311.129
	2006	$	1.467884	$	1.667686	1,399,021.179
	2005	$	1.440031	$	1.467884	1,662,015.857
	2004	$	1.316611	$	1.440031	2,086,496.000
	2003	$	1.036367	$	1.316611	2,044,814.188
	2002	$	1.394980	$	1.036367	2,460,344.188
	2001	$	1.608774	$	1.394980	2,771,657.278
	2000	$	1.833086	$	1.608774	3,518,400.932
Transamerica Jennison Growth VP – Initial Class(2)	2009	$	0.617065	$	0.857230	73,863.794
Subaccount Inception Date November 20, 1996	2008	$	0.994338	$	0.617065	194,266.201
	2007	$	0.905116	$	0.994338	296,905.938
	2006	$	0.900963	$	0.905116	371,010.593
	2005	$	0.803621	$	0.900963	540,524.394
	2004	$	0.747485	$	0.803621	687,882.000
	2003	$	0.589170	$	0.747485	719,485.497
	2002	$	0.863467	$	0.589170	842,937.474
	2001	$	1.076068	$	0.863467	794,421.477
	2000	$	1.235199	$	1.076068	847,560.557
Transamerica Focus VP – Initial Class(3)	2009	$	0.823757	$	1.038099	368,024.883
Subaccount Inception Date May 1, 2000	2008	$	1.314017	$	0.823757	484,969.751
	2007	$	1.320166	$	1.314017	878,161.559
	2006	$	1.130190	$	1.320166	1,192,705.951
	2005	$	1.102152	$	1.130190	1,466,174.733
	2004	$	1.025037	$	1.102152	1,817,749.000
	2003	$	0.769798	$	1.025037	1,775,466.094
	2002	$	1.037858	$	0.769798	2,248,284.702
	2001	$	1.031983	$	1.037858	1,854,117.582
	2000	$	1.000000	$	1.031983	30,567.088

69

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica AEGON High Yield Bond VP – Initial Class(4)	2009	$	0.978517	$	1.419455	300,407.110
Subaccount Inception Date June 2, 1998	2008	$	1.327848	$	0.978517	277,025.737
	2007	$	1.323335	$	1.327848	578,569.891
	2006	$	1.210603	$	1.323335	1,024,936.161
	2005	$	1.206825	$	1.210603	1,284,968.063
	2004	$	1.115968	$	1.206825	1,879,616.000
	2003	$	0.962033	$	1.115968	2,108,724.599
	2002	$	0.956639	$	0.962033	1,415,069.235
	2001	$	0.935671	$	0.956639	1,251,294.886
	2000	$	1.001525	$	0.935671	1,331,468.484
Transamerica MFS International Equity VP – Initial Class	2009	$	0.822222	$	1.074829	274,053.510
Subaccount Inception Date May 1, 2001	2008	$	1.289772	$	0.822222	310,883.802
	2007	$	1.199432	$	1.289772	466,739.748
	2006	$	0.989186	$	1.199432	739,834.511
	2005	$	0.889551	$	0.989186	632,897.488
	2004	$	0.789661	$	0.889551	770,286.000
	2003	$	0.639710	$	0.789661	485,325.462
	2002	$	0.832651	$	0.639710	145,042.207
	2001	$	1.000000	$	0.832651	11,671.774
Transamerica Marsico Growth VP – Initial Class(2)	2009	$	0.595977	$	0.743558	152,443.134
Subaccount Inception Date May 1, 2000	2008	$	1.024410	$	0.595977	190,059.030
	2007	$	0.863639	$	1.024410	219,769.329
	2006	$	0.831939	$	0.863639	328,321.712
	2005	$	0.777637	$	0.831939	725,144.464
	2004	$	0.703189	$	0.777637	732,743.000
	2003	$	0.564924	$	0.703189	515,687.238
	2002	$	0.774704	$	0.564924	334,220.812
	2001	$	0.915432	$	0.774704	364,073.304
	2000	$	1.000000	$	0.915432	184,582.408
Transamerica PIMCO Total Return VP – Initial Class	2009	$	1.190434	$	1.360914	2,837,622.739
Subaccount Inception Date May 1, 2002	2008	$	1.243039	$	1.190434	2,131,759.112
	2007	$	1.158142	$	1.243039	1,480,560.283
	2006	$	1.127971	$	1.158142	1,661,995.347
	2005	$	1.118783	$	1.127971	2,230,572.427
	2004	$	1.086753	$	1.118783	2,696,360.000
	2003	$	1.051492	$	1.086753	3,091,761.763
	2002	$	1.000000	$	1.051492	2,092,533.373
Transamerica T. Rowe Price Equity Income VP – Initial Class(1)	2009	$	2.159617	$	2.668586	368,891.038
Subaccount Inception Date January 20, 1995	2008	$	3.423698	$	2.159617	638,906.320
	2007	$	3.363743	$	3.423698	1,056,888.379
	2006	$	2.869877	$	3.363743	1,489,200.471
	2005	$	2.797855	$	2.869877	1,832,733.737
	2004	$	2.473523	$	2.797855	2,084,449.000
	2003	$	1.999060	$	2.473523	2,196,683.469
	2002	$	2.327288	$	1.999060	2,250,643.880
	2001	$	2.312216	$	2.327288	2,263,568.298
	2000	$	2.089513	$	2.312216	1,989,114.003

70

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Growth Stock VP – Initial Class(2)	2009	$	2.049269	$	2.893455	104,298.642
Subaccount Inception Date January 5, 1995	2008	$	3.610005	$	2.049269	226,814.530
	2007	$	3.333985	$	3.610005	421,345.985
	2006	$	2.984491	$	3.333985	529,487.672
	2005	$	2.853306	$	2.984491	650,160.831
	2004	$	2.636373	$	2.853306	766,807.000
	2003	$	2.046402	$	2.636373	897,954.533
	2002	$	2.691110	$	2.046402	,039,057.802
	2001	$	3.036723	$	2.691110	1,147,568.990
	2000	$	3.097854	$	3.036723	1,394,829.207
Transamerica T. Rowe Price Small Cap VP – Initial Class	2009	$	0.617387	$	0.843676	291,548.966
Subaccount Inception Date May 1, 2000	2008	$	0.983073	$	0.617387	454,334.751
	2007	$	0.910402	$	0.983073	492,961.211
	2006	$	0.892022	$	0.910402	564,194.176
	2005	$	0.818522	$	0.892022	716,997.554
	2004	$	0.752793	$	0.818522	909,648.000
	2003	$	0.544196	$	0.752793	989,024.641
	2002	$	0.760305	$	0.544196	373,078.856
	2001	$	0.854820	$	0.760305	167,743.278
	2000	$	1.000000	$	0.854820	52,772.929
Transamerica Templeton Global VP – Initial Class(5)	2009	$	0.438824	$	0.554792	1,108,621.481
Subaccount Inception Date May 1, 2000	2008	$	0.790813	$	0.438824	241,321
	2007	$	0.696548	$	0.790813	302,606
	2006	$	0.595141	$	0.696548	283,253.478
	2005	$	0.562060	$	0.595141	277,673.306
	2004	$	0.751404	$	0.562060	305,805.000
	2003	$	0.601821	$	0.751404	83,811.667
	2002	$	0.778284	$	0.601821	61,696.491
	2001	$	0.949980	$	0.778284	1,669.965
	2000	$	1.000000	$	0.949980	1,000.000
Transamerica Balanced VP – Initial Class(6)	2009	$	0.984186	$	1.224632	62,116.111
Subaccount Inception Date May 1, 2002	2008	$	1.477848	$	0.984186	88,686.546
	2007	$	1.320483	$	1.477848	164,152.932
	2006	$	1.228162	$	1.320483	190,473.497
	2005	$	1.154600	$	1.228162	235,847.499
	2004	$	1.054354	$	1.154600	271,875.000
	2003	$	0.939595	$	1.054354	356,752.099
	2002	$	1.000000	$	0.939595	73,453.140
Transamerica Convertible Securities VP – Initial Class	2009	$	1.018964	$	1.318102	91,913.978
Subaccount Inception Date May 1, 2002	2008	$	1.638459	$	1.018964	95,928.502
	2007	$	1.401918	$	1.638459	333,267.694
	2006	$	1.283056	$	1.401918	407,275.397
	2005	$	1.253568	$	1.283056	244,264.243
	2004	$	1.124250	$	1.253568	265,461.000
	2003	$	0.922763	$	1.124250	240,457.310
	2002	$	1.000000	$	0.922763	40,596.281

71

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica WMC Diversified Growth VP – Initial Class(7)	2009	$	0.570557	$	0.726238	1,015,045.362
Subaccount Inception Date May 1, 2000	2008	$	1.072627	$	0.570557	2,023,801.852
	2007	$	0.936327	$	1.072627	2,844,354.563
	2006	$	0.874163	$	0.936327	3,839,512.402
	2005	$	0.761335	$	0.874163	1,426,535.581
	2004	$	0.667300	$	0.761335	2,209,667.000
	2003	$	0.516143	$	0.667300	1,940,332.762
	2002	$	0.673747	$	0.516143	1,190,272.376
	2001	$	0.830281	$	0.673747	884,825.721
	2000	$	1.000000	$	0.830281	233,077.723
Transamerica Growth Opportunities VP – Initial Class	2009	$	1.161916	$	1.566698	104,478.155
Subaccount Inception Date May 1, 2001	2008	$	1.995845	$	1.161916	129,598.102
	2007	$	1.645959	$	1.995845	122,767.731
	2006	$	1.589487	$	1.645959	207,978.216
	2005	$	1.388005	$	1.589487	270,796.205
	2004	$	1.208021	$	1.388005	375,815.000
	2003	$	0.934457	$	1.208021	181,897.513
	2002	$	1.106909	$	0.934457	205,145.974
	2001	$	1.000000	$	1.106909	998.580
Transamerica Money Market VP – Initial Class	2009	$	1.378481	$	1.359868	1,488,730.705
Subaccount Inception Date July 5, 1994	2008	$	1.366515	$	1.378481	2,827,278.559
	2007	$	1.320697	$	1.366515	2,883,739.381
	2006	$	1.279908	$	1.320697	3,291,483.862
	2005	$	1.262642	$	1.279908	2,033,426.098
	2004	$	1.268884	$	1.262642	1,119,609.000
	2003	$	1.278447	$	1.268884	3,171,016.176
Transamerica Science & Technology VP – Initial Class(5)	2009	$	0.494842	$	0.769167	256,051.744
Subaccount Inception Date May 1, 2001	2008	$	0.977128	$	0.494842	325,659.369
	2007	$	0.747144	$	0.977128	301,267.262
	2006	$	0.750778	$	0.747144	320,887.618
	2005	$	0.746619	$	0.750778	223,043.991
	2004	$	0.701312	$	0.746619	264,327.000
	2003	$	0.471553	$	0.701312	263,961.833
	2002	$	0.773135	$	0.471553	18,934.852
	2001	$	1.000000	$	0.773135	13,017.152
Transamerica Small/Mid Cap Value VP – Initial Class	2009	$	3.515723	$	4.960561	100,944.678
Subaccount Inception Date July 5, 1994	2008	$	6.034985	$	3.515723	176,194.596
	2007	$	4.911009	$	6.034985	412,566.635
	2006	$	4.222214	$	4.911009	567,844.805
	2005	$	3.773614	$	4.222214	669,481.940
	2004	$	3.292202	$	3.773614	795,677.000
	2003	$	1.751037	$	3.292202	986,909.160
	2002	$	2.936020	$	1.751037	1,323,422.436
	2001	$	2.314129	$	2.936020	1,467,944.630
	2000	$	2.115582	$	2.314129	1,288,104.656
Transamerica U.S. Government Securities VP – Initial Class	2009	$	1.711486	$	1.761522	432,125.928
Subaccount Inception Date August 3, 1994	2008	$	1.613596	$	1.711486	497,926.770
	2007	$	1.544502	$	1.613596	772,955.346
	2006	$	1.517955	$	1.544502	1,240,935.603
	2005	$	1.507049	$	1.517955	1,502,236.001
	2004	$	1.480911	$	1.507049	1,917,976.000
	2003	$	1.460102	$	1.480911	2,604,058.728
	2002	$	1.400560	$	1.460102	2,810,237.095
	2001	$	1.352742	$	1.400560	2,021,013.095
	2000	$	1.246338	$	1.352742	1,909,567.520

72

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Morgan Stanley Active International Allocation VP – Initial Class(8)	2009	$	1.215941	$	1.508040	507,708.806
Subaccount Inception Date July 5, 1994	2008	$	2.017826	$	1.215941	709,350.087
	2007	$	1.771791	$	2.017826	782,206.147
	2006	$	1.456027	$	1.771791	1,117,063.238
	2005	$	1.298698	$	1.456027	973,714.344
	2004	$	1.135997	$	1.298698	1,021,347.000
	2003	$	0.868180	$	1.135997	1,285,351.618
	2002	$	1.061346	$	0.868180	1,510,384.701
	2001	$	1.398424	$	1.061346	1,607,640.906
	2000	$	1.736396	$	1.398424	1,768,280.720
Transamerica Multi Managed Large Cap Core VP – Initial Class(9)	2009	$	1.572424	$	2.252680	762,991.939
Subaccount Inception Date July 5, 1994	2008	$	2.755836	$	1.572424	407,949.532
	2007	$	2.560560	$	2.755836	686,075.370
	2006	$	2.355458	$	2.560560	1,036,973.108
	2005	$	2.184988	$	2.355458	1,379,910.917
	2004	$	1.966993	$	2.184988	1,611,174.000
	2003	$	1.648851	$	1.966993	1,814,818.120
	2002	$	2.001444	$	1.648851	2,392,336.584
	2001	$	2.185997	$	2.001444	2,618,053.899
	2000	$	2.358574	$	2.185997	2,130,505.037
Transamerica Morgan Stanley Mid-Cap Growth VP – Initial Class(10)	2009	$	0.518920	$	0.820868	116,002.780
Subaccount Inception Date May 1, 2001	2008	$	0.980707	$	0.518920	117,589.938
	2007	$	0.812430	$	0.980707	147,752.654
	2006	$	0.750266	$	0.812430	201,521.987
	2005	$	0.708049	$	0.750266	305,361.548
	2004	$	0.670790	$	0.708049	275,618.000
	2003	$	0.531264	$	0.670790	640,612.133
	2002	$	0.805577	$	0.531264	211,455.972
	2001	$	1.000000	$	0.805577	121,404.814
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.152530	$	1.183164	0.000
Subaccount Inception Date November 3, 2003	2008	$	1.089107	$	1.152530	0.000
	2007	$	1.045099	$	1.089107	0.000
	2006	$	1.029250	$	1.045099	0.000
	2005	$	1.024349	$	1.029250	0.000
	2004	$	1.010428	$	1.024349	0.000
	2003	$	1.000000	$	1.010428	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.594311	$	0.865048	129,389.969
Subaccount Inception Date May 1, 2002	2008	$	1.254298	$	0.594311	170,620.007
	2007	$	1.256087	$	1.254298	221,178.634
	2006	$	1.128805	$	1.256087	239,485.205
	2005	$	1.086700	$	1.128805	335,969.852
	2004	$	0.995176	$	1.086700	436,781.000
	2003	$	0.757796	$	0.995176	490,605.689
	2002	$	1.000000	$	0.757796	271,012.792
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.735365	$	0.874606	15,062.577
Subaccount Inception Date May 1, 2002	2008	$	1.301026	$	0.735365	15,135.037
	2007	$	1.181969	$	1.301026	0.000
	2006	$	1.131131	$	1.181969	25,959.073
	2005	$	1.057344	$	1.131131	33,359.553
	2004	$	1.009328	$	1.057344	34,721.000
	2003	$	0.793030	$	1.009328	35,082.471
	2002	$	1.000000	$	0.793030	8,536.533

73

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.724993	$	0.859625	150,509.545
Subaccount Inception Date May 1, 2001	2008	$	1.240900	$	0.724993	196,126.543
	2007	$	1.201232	$	1.240900	239,658.372
	2006	$	1.042190	$	1.201232	364,600.532
	2005	$	1.011301	$	1.042190	395,171.259
	2004	$	0.922939	$	1.011301	459,689.000
	2003	$	0.708682	$	0.922939	543,774.420
	2002	$	0.925362	$	0.708682	562,772.960
	2001	$	1.000000	$	0.925362	338,946.972
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.555356	$	0.750174	219,181.372
Subaccount Inception Date May 1, 2001	2008	$	0.936742	$	0.555356	236,011.397
	2007	$	0.836930	$	0.936742	229,662.712
	2006	$	0.854933	$	0.836930	246,522.851
	2005	$	0.755575	$	0.854933	319,727.915
	2004	$	0.707865	$	0.755575	317,752.000
	2003	$	0.582390	$	0.707865	399,553.877
	2002	$	0.854751	$	0.582390	290,129.288
	2001	$	1.000000	$	0.854751	170,283.912
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.835183	$	1.114693	1,352,048.977
Subaccount Inception Date May 1, 2000	2008	$	1.479293	$	0.835183	1,531,296.790
	2007	$	1.280112	$	1.479293	1,954,500.785
	2006	$	1.165967	$	1.280112	2,334,239.789
	2005	$	1.014517	$	1.165967	2,827,957.069
	2004	$	0.894215	$	1.014517	2,504,455.000
	2003	$	0.707994	$	0.894215	2,454,901.642
	2002	$	0.794977	$	0.707994	1,989,715.385
	2001	$	0.921935	$	0.794977	524,898.341
	2000	$	1.000000	$	0.921935	83,267.219
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.800853	$	1.024801	452,350.673
Subaccount Inception Date May 1, 2000	2008	$	1.421500	$	0.800853	569,250.657
	2007	$	1.424811	$	1.421500	734,846.082
	2006	$	1.205808	$	1.424811	660,349.638
	2005	$	1.159269	$	1.205808	797,626.378
	2004	$	1.057874	$	1.159269	913,774.000
	2003	$	0.825763	$	1.057874	869,203.178
	2002	$	1.011689	$	0.825763	875,533.684
	2001	$	1.083585	$	1.011689	539,459.987
	2000	$	1.000000	$	1.083585	11,169.920
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.558594	$	0.704251	622,900.836
Subaccount Inception Date May 1, 2001	2008	$	1.076102	$	0.558594	976,971.974
	2007	$	0.862415	$	1.076102	475,624.786
	2006	$	0.821333	$	0.862415	377,845.439
	2005	$	0.790140	$	0.821333	353,495.640
	2004	$	0.777739	$	0.790140	399,469.000
	2003	$	0.595582	$	0.777739	415,789.933
	2002	$	0.867285	$	0.595582	311,639.983
	2001	$	1.000000	$	0.867285	224,892.535

74

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Fidelity VIP Growth Opportunities Portfolio – Service Class 2	2009	$	0.436426	$	0.625457	7,198.418
Subaccount Inception Date May 1, 2000	2008	$	0.987483	$	0.436426	13,061.140
	2007	$	0.815561	$	0.987483	13,297.217
	2006	$	0.787455	$	0.815561	34,818.262
	2005	$	0.735424	$	0.787455	37,107.971
	2004	$	0.698366	$	0.735424	42,146.000
	2003	$	0.547765	$	0.698366	41,024.211
	2002	$	0.712884	$	0.547765	41,430.745
	2001	$	0.847762	$	0.712884	46,654.326
	2000	$	1.000000	$	0.847762	4,056.118
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	1.366730	$	1.881811	464,091.532
Subaccount Inception Date May 1, 2000	2008	$	2.297144	$	1.366730	624,657.608
	2007	$	2.021695	$	2.297144	760,669.946
	2006	$	1.825525	$	2.021695	1,128,393.163
	2005	$	1.569979	$	1.825525	1,345,697.241
	2004	$	1.278384	$	1.569979	1,369,189.000
	2003	$	0.938535	$	1.278384	1,418,766.692
	2002	$	1.058761	$	0.938535	1,109,568.411
	2001	$	1.113894	$	1.058761	301,333.651
	2000	$	1.000000	$	1.113894	193,695.460
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.748075	$	1.158245	434,208.541
Subaccount Inception Date May 1, 2002	2008	$	1.558794	$	0.748075	683,298.363
	2007	$	1.500649	$	1.558794	726,935.409
	2006	$	1.312926	$	1.500649	406,784.958
	2005	$	1.300991	$	1.312926	449,415.639
	2004	$	1.160021	$	1.300991	614,331.000
	2003	$	0.748203	$	1.160021	647,601.151
	2002	$	1.000000	$	0.748203	233,602.863
Franklin Income Securities Fund – Class 2	2009	$	0.672044	$	0.897800	205,627.718
Subaccount Inception Date May 1, 2007	2008	$	0.969756	$	0.672044	158,185.074
	2007	$	1.000000	$	0.969756	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.597154	$	0.741580	7,247.600
Subaccount Inception Date May 1, 2007	2008	$	0.963806	$	0.597154	17,918.890
	2007	$	1.000000	$	0.963806	311,072.773
Templeton Foreign Securities Fund – Class 2	2009	$	0.627531	$	0.847271	47,206.249
Subaccount Inception Date May 1, 2007	2008	$	1.068371	$	0.627531	71,416.402
	2007	$	1.000000	$	1.068371	18,804.598
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.400762	$	0.570323	69,931.039
Subaccount Inception Date October 9, 2000	2008	$	0.724577	$	0.400762	88,822.337
	2007	$	0.604154	$	0.724577	144,986.286
	2006	$	0.541187	$	0.604154	237,495.143
	2005	$	0.490316	$	0.541187	307,042.496
	2004	$	0.413107	$	0.490316	357,964.000
	2003	$	0.311130	$	0.413107	296,286.367
	2002	$	0.439334	$	0.311130	418,083.312
	2001	$	0.738276	$	0.439334	282,361.120
	2000	$	1.000000	$	0.738276	4,308.768

75

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.50%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Janus Aspen – Perkins Mid Cap Value Portfolio – Service Shares	2009	$	1.011876	$	1.325106	10,761.115
Subaccount Inception Date October 9, 2000	2008	$	1.424498	$	1.011876	12,810.612
	2007	$	1.349213	$	1.424498	25,162.315
	2006	$	1.190103	$	1.349213	25,439.595
	2005	$	1.098065	$	1.190103	105,875.829
	2004	$	0.946169	$	1.098065	109,523.000
	2003	$	0.680071	$	0.946169	107,005.725
	2002	$	0.901410	$	0.680071	118,269.564
	2001	$	0.998696	$	0.901410	106,055.256
	2000	$	1.000000	$	0.998696	3,557.748
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.440003	$	0.595641	217,213.593
Subaccount Inception Date October 9, 2000	2008	$	0.809235	$	0.440003	208,433.909
	2007	$	0.751117	$	0.809235	939,584.615
	2006	$	0.646408	$	0.751117	180,261.053
	2005	$	0.621473	$	0.646408	228,341.250
	2004	$	0.603495	$	0.621473	316,508.000
	2003	$	0.495255	$	0.603495	572,760.739
	2002	$	0.676640	$	0.495255	1,288,017.381
	2001	$	0.887611	$	0.676640	412,917.680
	2000	$	1.000000	$	0.887611	27,410.848
MFS ® New Discovery Series – Service Class	2009	$	0.709950	$	1.139562	25,285.215
Subaccount Inception Date May 1, 2002	2008	$	1.191553	$	0.709950	17,607.741
	2007	$	1.182905	$	1.191553	17,389.054
	2006	$	1.063134	$	1.182905	45,937.645
	2005	$	1.027353	$	1.063134	35,175.960
	2004	$	0.981842	$	1.027353	72,529.000
	2003	$	0.746874	$	0.981842	64,009.227
	2002	$	1.000000	$	0.746874	10,623.871
MFS ® Total Return Series – Service Class	2009	$	0.999117	$	1.158823	348,195.948
Subaccount Inception Date May 1, 2002	2008	$	1.305576	$	0.999117	403,344.449
	2007	$	1.275094	$	1.305576	639,322.433
	2006	$	1.159404	$	1.275094	761,196.189
	2005	$	1.146954	$	1.159404	708,244.543
	2004	$	1.048576	$	1.146954	825,794.000
	2003	$	0.917454	$	1.048576	855,610.931
	2002	$	1.000000	$	0.917454	243,516.671
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993364	$	1.003183	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999959	$	0.998250	0.000
Transamerica Index 50 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.991643	$	0.996170	0.000
Transamerica Index 75 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.988774	$	0.999366	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999959	$	1.024203	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subacount inception date November 19, 2009	2009	$	0.985158	$	1.029652	0.00

76

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Initial Class(1)	2009	$	0.818509	$	0.969263	248,497.668
Subaccount Inception Date May 1, 2001	2008	$	1.312933	$	0.818509	131,816.666
	2007	$	1.346427	$	1.312933	45,776
	2006	$	1.140723	$	1.346427	64,603.310
	2005	$	1.110607	$	1.140723	45,559.107
	2004	$	1.000000	$	1.110607	13,136.000
Transamerica Asset Allocation – Conservative VP – Initial Class	2009	$	0.978492	$	1.208404	1,616,126.062
Subaccount Inception Date May 1, 2002	2008	$	1.258893	$	0.978492	1,269,145.114
	2007	$	1.200002	$	1.258893	779,590.723
	2006	$	1.111748	$	1.200002	345,680.463
	2005	$	1.071740	$	1.111748	78,032.265
	2004	$	1.000000	$	1.071740	0.000
Transamerica Asset Allocation – Growth VP – Initial Class	2009	$	0.883458	$	1.131050	2,550,747.311
Subaccount Inception Date May 1, 2002	2008	$	1.484088	$	0.883458	2,367,836.351
	2007	$	1.396672	$	1.484088	1,992,435.620
	2006	$	1.224872	$	1.396672	944,859.099
	2005	$	1.106529	$	1.224872	0.000
	2004	$	1.000000	$	1.106529	0.000
Transamerica Asset Allocation – Moderate VP – Initial Class	2009	$	0.980694	$	1.222500	2,434,412.681
Subaccount Inception Date May 1, 2002	2008	$	1.343250	$	0.980694	1,780,902.983
	2007	$	1.261784	$	1.343250	942,790.435
	2006	$	1.147670	$	1.261784	723,991.790
	2005	$	1.083067	$	1.147670	37.825
	2004	$	1.000000	$	1.083067	21,239.000
Transamerica Asset Allocation – Moderate Growth VP – Initial Class	2009	$	0.945909	$	1.195513	3,843,014.894
Subaccount Inception Date May 1, 2002	2008	$	1.426601	$	0.945909	3,238,311.508
	2007	$	1.341867	$	1.426601	2,640,862.299
	2006	$	1.195249	$	1.341867	1,023,098.708
	2005	$	1.102655	$	1.195249	105,286.121
	2004	$	1.000000	$	1.102655	0.000
Transamerica International Moderate Growth VP – Service Class	2009	$	0.693018	$	0.883896	117,482.929
Subaccount Inception Date May 1, 2006	2008	$	1.000000	$	0.693018	27,202.488
	2007	$	1.031445	$	1.103520	0.000
	2006	$	1.000000	$	1.031445	0.000
Transamerica BlackRock Large Cap Value VP – Initial Class(1)	2009	$	1.020960	$	1.147724	6,964,818.492
Subaccount Inception Date May 1, 2000	2008	$	1.566025	$	1.020960	552,739.383
	2007	$	1.517687	$	1.566025	258,205.851
	2006	$	1.316157	$	1.517687	115,386.459
	2005	$	1.151057	$	1.316157	34,278.496
	2004	$	1.000000	$	1.151057	10,059.000
Transamerica Clarion Global Real Estate Securities VP – Initial Class	2009	$	1.104858	$	1.453717	348,296.330
Subaccount Inception Date May 1, 2002	2008	$	1.944444	$	1.104858	201,660.349
	2007	$	2.113530	$	1.944444	144,198.971
	2006	$	1.506262	$	2.113530	152,989.962
	2005	$	1.345941	$	1.506262	26,283.066
	2004	$	1.000000	$	1.345941	0.000
Transamerica JPMorgan Enhanced Index VP – Initial Class	2009	$	0.804122	$	1.027676	4,336,397.693
Subaccount Inception Date May 1, 1997	2008	$	1.301557	$	0.804122	2,627,588.506
	2007	$	1.262582	$	1.301557	1,389,377.717
	2006	$	1.110222	$	1.262582	209,234.078
	2005	$	1.088084	$	1.110222	46,018.109
	2004	$	1.000000	$	1.088084	4,029.000

77

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Jennison Growth VP – Initial Class(2)	2009	$	0.833538	$	1.159084	745,691.102
Subaccount Inception Date November 20, 1996	2008	$	1.341834	$	0.833538	505,056.967
	2007	$	1.220222	$	1.341834	327,454.246
	2006	$	1.213449	$	1.220222	96,571.340
	2005	$	1.081308	$	1.213449	7,693.151
	2004	$	1.000000	$	1.081308	24,015.000
Transamerica Focus VP – Initial Class(3)	2009	$	0.795640	$	1.003646	2,247,122.863
Subaccount Inception Date May 1, 2000	2008	$	1.267904	$	0.795640	1,896,952.211
	2007	$	1.272565	$	1.267904	1,779,972.762
	2006	$	1.088360	$	1.272565	1,808,935.474
	2005	$	1.060317	$	1.088360	136,941.699
	2004	$	1.000000	$	1.060317	8,271.000
Transamerica AEGON High Yield Bond VP – Initial Class(4)	2009	$	0.884503	$	1.284345	1,330,932.952
Subaccount Inception Date June 2, 1998	2008	$	1.199092	$	0.884503	669,951.562
	2007	$	1.193838	$	1.199092	499,485.825
	2006	$	1.091063	$	1.193838	300,856.059
	2005	$	1.086592	$	1.091063	225,616.466
	2004	$	1.000000	$	1.086592	0.000
Transamerica MFS International Equity VP – Initial Class	2009	$	1.021513	$	1.336663	405,009.277
Subaccount Inception Date May 1, 2001	2008	$	1.600815	$	1.021513	247,549.884
	2007	$	1.487219	$	1.600815	228,355.054
	2006	$	1.225328	$	1.487219	181,320.123
	2005	$	1.100814	$	1.225328	18,244.385
	2004	$	1.000000	$	1.100814	7,927.000
Transamerica Marsico Growth VP – Initial Class(2)	2009	$	0.860837	$	1.075069	277,975.629
Subaccount Inception Date May 1, 2000	2008	$	1.478218	$	0.860837	203,248.469
	2007	$	1.245003	$	1.478218	127,928.804
	2006	$	1.198139	$	1.245003	53,339.875
	2005	$	1.118831	$	1.198139	0.000
	2004	$	1.000000	$	1.118831	0.000
Transamerica PIMCO Total Return VP – Initial Class	2009	$	1.106069	$	1.265712	3,340,498.765
Subaccount Inception Date May 1, 2002	2008	$	1.153806	$	1.106069	2,465,684.425
	2007	$	1.073938	$	1.153806	1,091,102.022
	2006	$	1.044934	$	1.073938	514,319.044
	2005	$	1.035410	$	1.044934	166,116.359
	2004	$	1.000000	$	1.035410	45,589.000
Transamerica T. Rowe Price Equity Income VP – Initial Class(1)	2009	$	0.862054	$	1.066267	10,517,736.798
Subaccount Inception Date January 20, 1995	2008	$	1.365276	$	0.862054	9,397,198.853
	2007	$	1.340038	$	1.365276	7,384,460.624
	2006	$	1.142172	$	1.340038	5,721,692.717
	2005	$	1.112410	$	1.142172	1,190,830.299
	2004	$	1.000000	$	1.112410	50,652.000
Transamerica T. Rowe Price Growth Stock VP – Initial Class(2)	2009	$	0.779347	$	1.101477	6,715,442.282
Subaccount Inception Date January 5, 1995	2008	$	1.371538	$	0.779347	5,569,081.468
	2007	$	1.265420	$	1.371538	4,778,187.939
	2006	$	1.131658	$	1.265420	4,268,099.090
	2005	$	1.080854	$	1.131658	1,811,990.161
	2004	$	1.000000	$	1.080854	162,333.000

78

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Small Cap VP – Initial Class	2009	$	0.798829	$	1.092695	540,802.572
Subaccount Inception Date May 1, 2000	2008	$	1.270723	$	0.798829	223,967.663
	2007	$	1.175644	$	1.270723	212,779.843
	2006	$	1.150784	$	1.175644	279,114.168
	2005	$	1.054924	$	1.150784	224,705.293
	2004	$	1.000000	$	1.054924	0.000
Transamerica Templeton Global VP – Initial Class(5)	2009	$	0.845500	$	1.069979	3,138,287.294
Subaccount Inception Date May 1, 2000	2008	$	1.522172	$	0.845500	256,557.116
	2007	$	1.339397	$	1.522172	146,517.877
	2006	$	1.143274	$	1.339397	98,676.725
	2005	$	1.078671	$	1.143274	25,990.445
	2004	$	1.000000	$	1.078671	0.000
Transamerica Balanced VP – Initial Class(6)	2009	$	0.942547	$	1.173982	330,402.172
Subaccount Inception Date May 1, 2002	2008	$	1.413931	$	0.942547	181,476.241
	2007	$	1.262106	$	1.413931	91,315.141
	2006	$	1.172724	$	1.262106	19,666.507
	2005	$	1.101394	$	1.172724	0.000
	2004	$	1.000000	$	1.101394	0.000
Transamerica Convertible Securities VP – Initial Class	2009	$	0.894955	$	1.158833	444,310.617
Subaccount Inception Date May 1, 2002	2008	$	1.437647	$	0.894955	242,463.806
	2007	$	1.228875	$	1.437647	201,520.482
	2006	$	1.123579	$	1.228875	104,025.890
	2005	$	1.096676	$	1.123579	45,176.179
	2004	$	1.000000	$	1.096676	0.000
Transamerica WMC Diversified Growth VP – Initial Class (7)	2009	$	0.837351	$	1.066879	8,047,670.948
Subaccount Inception Date May 1, 2000	2008	$	1.572618	$	0.837351	5,872,697.749
	2007	$	1.371410	$	1.572618	5,140,314.700
	2006	$	1.279101	$	1.371410	3,963,153.692
	2005	$	1.112918	$	1.279101	32,523.541
	2004	$	1.000000	$	1.112918	42,721.000
Transamerica Growth Opportunities VP – Initial Class	2009	$	0.896999	$	1.210698	217,035.134
Subaccount Inception Date May 1, 2001	2008	$	1.539252	$	0.896999	121,857.757
	2007	$	1.268155	$	1.539252	22,832.515
	2006	$	1.223440	$	1.268155	9,924.280
	2005	$	1.067308	$	1.223440	15,105.422
	2004	$	1.000000	$	1.067308	7,883.000
Transamerica Money Market VP – Initial Class	2009	$	1.094434	$	1.080742	4.046.436.044
Subaccount Inception Date July 5, 1994	2008	$	1.083864	$	1.094434	2,916,538.193
	2007	$	1.046489	$	1.083864	1,443,810.094
	2006	$	1.013179	$	1.046489	1,372,626.314
	2005	$	0.998530	$	1.013179	240,266.041
	2004	$	1.000000	$	0.998530	26,102.000
Transamerica Small/Mid Cap Value VP – Initial Class	2009	$	1.054393	$	1.489184	6,488,979.823
Subaccount Inception Date July 5, 1994	2008	$	1.808140	$	1.054393	6,016,829.447
	2007	$	1.469930	$	1.808140	4,539,032.842
	2006	$	1.262524	$	1.469930	3,661,248.997
	2005	$	1.127273	$	1.262524	1,574,790.637
	2004	$	1.000000	$	1.127273	385,112.000

79

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica Science & Technology VP – Initial Class(5)	2009	$	0.710684	$	1.105753	459,793.812
Subaccount Inception Date May 1, 2001	2008	$	1.401950	$	0.710684	235,628.055
	2007	$	1.070911	$	1.401950	108,746.877
	2006	$	1.075061	$	1.070911	25,044.892
	2005	$	1.068043	$	1.075061	0.000
	2004	$	1.000000	$	1.068043	0.000
Transamerica U.S. Government Securities VP – Initial Class	2009	$	1.172629	$	1.208102	3,326,718.905
Subaccount Inception Date August 3, 1994	2008	$	1.104466	$	1.172629	2,736,470.560
	2007	$	1.056130	$	1.104466	1,053,742.118
	2006	$	1.036964	$	1.056130	941,655.528
	2005	$	1.028493	$	1.036964	438,226.033
	2004	$	1.000000	$	1.028493	45,345.000
Transamerica Morgan Stanley Active International Allocation VP – Initial Class(8)	2009	$	1.061641	$	1.317982	4,263,484.413
Subaccount Inception Date July 5, 1994	2008	$	1.760016	$	1.061641	4,014,823.805
	2007	$	1.543886	$	1.760016	3,381,923.685
	2006	$	1.267498	$	1.543886	2,279,959.082
	2005	$	1.129437	$	1.267498	870,713.016
	2004	$	1.000000	$	1.129437	412,401.000
Transamerica Multi Managed Large Cap Core VP – Initial Class(9)	2009	$	0.798292	$	1.144770	7,923,385.339
Subaccount Inception Date July 5, 1994	2008	$	1.397708	$	0.798292	4,764,335.672
	2007	$	1.297386	$	1.397708	3,585,863.197
	2006	$	1.192296	$	1.297386	2,128,005.922
	2005	$	1.104914	$	1.192296	1,278,174.456
	2004	$	1.000000	$	1.104914	450,934.000
Transamerica Morgan Stanley Mid-Cap Growth VP – Initial Class(10)	2009	$	0.786821	$	1.245886	140,924.190
Subaccount Inception Date May 1, 2001	2008	$	1.485537	$	0.786821	20,875.957
	2007	$	1.229417	$	1.485537	4,363.746
	2006	$	1.134233	$	1.229417	0.000
	2005	$	1.069338	$	1.134233	0.000
	2004	$	1.000000	$	1.069338	0.000
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.159089	$	1.191066	45,916.533
Subaccount Inception Date November 3, 2003	2008	$	1.094223	$	1.159089	50,676.914
	2007	$	1.048973	$	1.094223	0.000
	2006	$	1.032040	$	1.048973	0.000
	2005	$	1.026124	$	1.032040	0.000
	2004	$	1.000000	$	1.026124	0.000
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.583752	$	0.850525	66,106.290
Subaccount Inception Date May 1, 2002	2008	$	1.230793	$	0.583752	21,182.505
	2007	$	1.231326	$	1.230793	29,572.430
	2006	$	1.105455	$	1.231326	26,500.408
	2005	$	1.063187	$	1.105455	20,302.130
	2004	$	1.000000	$	1.063187	0.000
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.745172	$	0.887145	19.286
Subaccount Inception Date May 1, 2002	2008	$	1.317059	$	0.745172	19.286
	2007	$	1.195355	$	1.317059	19.286
	2006	$	1.142812	$	1.195355	21.478
	2005	$	1.067228	$	1.142812	25.896
	2004	$	1.000000	$	1.067228	14,542.000

80

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.774206	$	0.918890	396,438.149
Subaccount Inception Date May 1, 2001	2008	$	1.323805	$	0.774206	167,262.708
	2007	$	1.280214	$	1.323805	144,024.830
	2006	$	1.109628	$	1.280214	53,076.383
	2005	$	1.075680	$	1.109628	27,875.503
	2004	$	1.000000	$	1.075680	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.797427	$	1.078218	28,010.461
Subaccount Inception Date May 1, 2001	2008	$	1.343730	$	0.797427	109,803.986
	2007	$	1.199362	$	1.343730	27,335.748
	2006	$	1.223965	$	1.199362	21,992.277
	2005	$	1.080644	$	1.223965	0.000
	2004	$	1.000000	$	1.080644	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.911262	$	1.217417	1,718,034.370
Subaccount Inception Date May 1, 2000	2008	$	1.612455	$	0.911262	1,297,789.117
	2007	$	1.393955	$	1.612455	750,941.156
	2006	$	1.268419	$	1.393955	257,581.923
	2005	$	1.102587	$	1.268419	61,961.612
	2004	$	1.000000	$	1.102587	45,827.000
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.753925	$	0.965701	324,106.760
Subaccount Inception Date May 1, 2000	2008	$	1.336875	$	0.753925	154,597.774
	2007	$	1.338663	$	1.336875	113,025.652
	2006	$	1.131794	$	1.338663	25,685.344
	2005	$	1.087049	$	1.131794	0.000
	2004	$	1.000000	$	1.087049	0.000
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.731706	$	0.923404	136,255.317
Subaccount Inception Date May 1, 2001	2008	$	1.408204	$	0.731706	98,568.006
	2007	$	1.127447	$	1.408204	48,098.777
	2006	$	1.072688	$	1.127447	0.000
	2005	$	1.030936	$	1.072688	0.000
	2004	$	1.000000	$	1.030936	0.000
Fidelity VIP Growth Opportunities Portfolio – Service Class 2	2009	$	0.634480	$	0.910178	12,469.031
Subaccount Inception Date May 1, 2000	2008	$	1.434159	$	0.634480	0.000
	2007	$	1.183297	$	1.434159	0.000
	2006	$	1.141396	$	1.183297	0.000
	2005	$	1.064926	$	1.141396	0.000
	2004	$	1.000000	$	1.064926	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	1.049758	$	1.446806	2,149,179.642
Subaccount Inception Date May 1, 2000	2008	$	1.762637	$	1.049758	1,438,647.910
	2007	$	1.549742	$	1.762637	778,468
	2006	$	1.397981	$	1.549742	470,435.387
	2005	$	1.201095	$	1.397981	155,896.293
	2004	$	1.000000	$	1.201095	71,612.000
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.642432	$	0.995655	443,546.866
Subaccount Inception Date May 1, 2002	2008	$	1.337344	$	0.642432	355,553.744
	2007	$	1.286179	$	1.337344	141,054.574
	2006	$	1.124168	$	1.286179	50,590.013
	2005	$	1.112856	$	1.124168	37,207.347
	2004	$	1.000000	$	1.112856	9,865.000
Franklin Income Securities Fund – Class 2	2009	$	0.673149	$	0.900151	522,321.460
Subaccount Inception Date May 1, 2007	2008	$	0.970390	$	0.673149	119,161.290
	2007	$	1.000000	$	0.970390	22,506.309

81

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Mutual Shares Securities Fund – Class 2	2009	$	0.598140	$	0.743536	165,994.494
Subaccount Inception Date May 1, 2007	2008	$	0.964440	$	0.598140	20,748.590
	2007	$	1.000000	$	0.964440	0.000
Templeton Foreign Securities Fund – Class 2	2009	$	0.629392	$	0.850630	413,261.306
Subaccount Inception Date May 1, 2007	2008	$	1.070483	$	0.629392	402,133.344
	2007	$	1.000000	$	1.070483	138,084.565
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.942407	$	1.342446	196,520.477
Subaccount Inception Date October 9, 2000	2008	$	1.702223	$	0.942407	123,399.123
	2007	$	1.417910	$	1.702223	41,890.692
	2006	$	1.268874	$	1.417910	114,185.097
	2005	$	1.148456	$	1.268874	94,877.196
	2004	$	1.000000	$	1.148456	0.000
Janus Aspen – Perkins Mid Cap Value Portfolio – Service Shares	2009	$	1.035685	$	1.357615	9,076.884
Subaccount Inception Date October 9, 2000	2008	$	1.456563	$	1.035685	449.190
	2007	$	1.378222	$	1.456563	458.356
	2006	$	1.214505	$	1.378222	0.000
	2005	$	1.119482	$	1.214505	0.000
	2004	$	1.000000	$	1.119482	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.730520	$	0.989907	449,530.560
Subaccount Inception Date October 9, 2000	2008	$	1.342201	$	0.730520	233,742.804
	2007	$	1.244559	$	1.342201	116,363.887
	2006	$	1.070007	$	1.244559	53,547.721
	2005	$	1.027724	$	1.070007	0.000
	2004	$	1.000000	$	1.027724	0.000
MFS ® New Discovery Series – Service Class	2009	$	0.722822	$	1.161359	89,120.202
Subaccount Inception Date May 1, 2002	2008	$	1.211941	$	0.722822	34,208.399
	2007	$	1.201951	$	1.211941	24,905.552
	2006	$	1.079196	$	1.201951	0.000
	2005	$	1.041845	$	1.079196	0.000
	2004	$	1.000000	$	1.041845	0.000
MFS ® Total Return Series – Service Class	2009	$	0.949190	$	1.102006	681,488.346
Subaccount Inception Date May 1, 2002	2008	$	1.239118	$	0.949190	186,508.360
	2007	$	1.208985	$	1.239118	64,681.083
	2006	$	1.098210	$	1.208985	33,412.191
	2005	$	1.085350	$	1.098210	0.000
	2004	$	1.000000	$	1.085350	0.000
Transamerica BlackRock Large Cap Value VP – Service Class
Subaccount inception date May 1, 2000	2009	$	1.000000	$	1.230568	0.000
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993367	$	1.003303	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999962	$	0.998364	0.000
Transamerica Index 50 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.991646	$	0.996289	0.000
Transamerica Index 75 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.988776	$	0.999483	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999962	$	1.024327	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subacount inception date November 19, 2009	2009	$	0.985161	$	1.029767	0.000

82

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.40%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica PIMCO Total Return VP – Service Class
Subaccount inception date May 1, 2002	2009	$	1.000000	$	1.108333	0.000
		1.25%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica American Century Large Company Value VP – Initial Class(1)	2009	$	0.584947	$	0.693704	0.000
Subaccount Inception Date May 1, 2001	2008	$	0.936886	$	0.584947	0.000
	2007	$	1.000000	$	0.936886	0.000
Transamerica Asset Allocation – Conservative VP – Initial Class	2009	$	0.795090	$	0.983355	287,379.543
Subaccount Inception Date May 1, 2002	2008	$	1.021416	$	0.795090	29,044.891
	2007	$	1.000000	$	1.021416	0.000
Transamerica Asset Allocation – Growth VP – Initial Class	2009	$	0.603440	$	0.773706	86,447.348
Subaccount Inception Date May 1, 2002	2008	$	1.012200	$	0.603440	56,071.597
	2007	$	1.000000	$	1.012200	0.000
Transamerica Asset Allocation – Moderate VP – Initial Class	2009	$	0.752513	$	0.939452	88,838.746
Subaccount Inception Date May 1, 2002	2008	$	1.029175	$	0.752513	49,711.129
	2007	$	1.000000	$	1.029175	0.000
Transamerica Asset Allocation – Moderate Growth VP – Initial Class	2009	$	0.677869	$	0.858024	25,322.940
Subaccount Inception Date May 1, 2002	2008	$	1.020832	$	0.677869	11,234.727
	2007	$	1.000000	$	1.020832	0.000
Transamerica BlackRock Large Cap Value VP – Initial Class(1)	2009	$	0.636826	$	0.716970	498,832.746
Subaccount Inception Date May 1, 2000	2008	$	0.975360	$	0.636826	7,078.250
	2007	$	1.000000	$	0.975360	0.000
Transamerica Clarion Global Real Estate Securities VP – Initial Class	2009	$	0.501961	$	0.661431	111,925.268
Subaccount Inception Date May 1, 2002	2008	$	0.882088	$	0.501961	87,241.772
	2007	$	1.000000	$	0.882088	9,551
Transamerica JPMorgan Enhanced Index VP – Initial Class	2009	$	0.603098	$	0.771901	867,921.368
Subaccount Inception Date May 1, 1997	2008	$	0.974724	$	0.603098	350,271.455
	2007	$	1.000000	$	0.974724	0.000
Transamerica Jennison Growth VP – Initial Class(2)	2009	$	0.663540	$	0.924062	58,255.688
Subaccount Inception Date November 20, 1996	2008	$	1.066570	$	0.663540	56,353.894
	2007	$	1.000000	$	1.066570	0.000
Transamerica Focus VP – Initial Class(3)	2009	$	0.599986	$	0.757969	117,397.925
Subaccount Inception Date May 1, 2000	2008	$	0.954687	$	0.599986	117,423.314
	2007	$	1.000000	$	0.954687	0.000
Transamerica AEGON High Yield Bond VP – Initial Class(4)	2009	$	0.716731	$	1.042268	139,736.995
Subaccount Inception Date June 2, 1998	2008	$	0.970205	$	0.716731	179,144.803
	2007	$	1.000000	$	0.970205	5,022
Transamerica MFS International Equity VP – Initial Class	2009	$	0.644262	$	0.844275	35,539.162
Subaccount Inception Date May 1, 2001	2008	$	1.008122	$	0.644262	784.555
	2007	$	1.000000	$	1.008122	0.000
Transamerica Marsico Growth VP – Initial Class(2)	2009	$	0.669936	$	0.837894	7,792.748
Subaccount Inception Date May 1, 2000	2008	$	1.148685	$	0.669936	7,802.868
	2007	$	1.000000	$	1.148685	0.000
Transamerica PIMCO Total Return VP – Initial Class	2009	$	1.017843	$	1.166474	488,196.617
Subaccount Inception Date May 1, 2002	2008	$	1.060211	$	1.017843	179,905.021
	2007	$	1.000000	$	1.060211	0.000

83

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.25%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Transamerica T. Rowe Price Equity Income VP – Initial Class(1)	2009	$	0.606542	$	0.751337	1,646,715.000
Subaccount Inception Date January 20, 1995	2008	$	0.959180	$	0.606542	1,306,519.511
	2007	$	1.000000	$	0.959180	339,511.935
Transamerica T. Rowe Price Growth Stock VP – Initial Class(2)	2009	$	0.584441	$	0.827234	855,805.879
Subaccount Inception Date January 5, 1995	2008	$	1.027006	$	0.584441	559,780.334
	2007	$	1.000000	$	1.027006	22,784.805
Transamerica T. Rowe Price Small Cap VP – Initial ClassClass	2009	$	0.646321	$	0.885390	85,462.541
Subaccount Inception Date May 1, 2000	2008	$	1.026592	$	0.646321	75,660.367
	2007	$	1.000000	$	1.026592	0.000
Transamerica Templeton Global VP – Initial Class(5)	2009	$	0.598347	$	0.758326	513,815.239
Subaccount Inception Date May 1, 2000	2008	$	1.075611	$	0.598347	64,968.606
	2007	$	1.000000	$	1.075611	0.000
Transamerica Balanced VP – Initial Class(6)	2009	$	0.716487	$	0.893729	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.073217	$	0.716487	0.000
	2007	$	1.000000	$	1.073217	0.000
Transamerica Convertible Securities VP – Initial Class	2009	$	0.715652	$	0.928044	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.147892	$	0.715652	0.000
	2007	$	1.000000	$	1.147892	0.000
Transamerica WMC Diversified Growth VP – Initial Class (7)	2009	$	0.596343	$	0.760941	1,328,910.460
Subaccount Inception Date May 1, 2000	2008	$	1.118328	$	0.596343	439,640.646
	2007	$	1.000000	$	1.118328	0.000
Transamerica Growth Opportunities VP – Initial Class	2009	$	0.686632	$	0.928130	14,853.930
Subaccount Inception Date May 1, 2001	2008	$	1.176530	$	0.686632	2,431.395
	2007	$	1.000000	$	1.176530	0.000
Transamerica Money Market VP – Initial Class	2009	$	1.035943	$	1.024461	175,700.728
Subaccount Inception Date July 5, 1994	2008	$	1.024409	$	1.035943	180,892.971
	2007	$	1.000000	$	1.024409	0.000
Transamerica Small/Mid Cap Value VP – Initial Class	2009	$	0.650679	$	0.920358	925,908.280
Subaccount Inception Date July 5, 1994	2008	$	1.114169	$	0.650679	817,966.099
	2007	$	1.000000	$	1.114169	51,065
Transamerica Science & Technology VP – Initial Class(5)	2009	$	0.639825	$	0.996972	22,379.079
Subaccount Inception Date May 1, 2001	2008	$	1.260286	$	0.639825	0.000
	2007	$	1.000000	$	1.260286	0.000
Transamerica U.S. Government Securities VP – Initial Class	2009	$	1.095199	$	1.130004	179,774.086
Subaccount Inception Date August 3, 1994	2008	$	1.030008	$	1.095199	268,176.283
	2007	$	1.000000	$	1.030008	0.000
Transamerica Morgan Stanley Active International Allocation VP – Initial Class(8)	2009	$	0.639849	$	0.795520	761,038.355
Subaccount Inception Date July 5, 1994	2008	$	1.059192	$	0.639849	607,184.790
	2007	$	1.000000	$	1.059192	0.000
Transamerica Multi Managed Large Cap Core VP – Initial Class(9)	2009	$	0.582120	$	0.836016	625,211.959
Subaccount Inception Date July 5, 1994	2008	$	1.017707	$	0.582120	275,627.709
	2007	$	1.000000	$	1.017707	0.000
Transamerica Morgan Stanley Mid-Cap Growth VP – Initial Class(10)	2009	$	0.594140	$	0.942178	12,360.682
Subaccount Inception Date May 1, 2001	2008	$	1.120084	$	0.594140	12,752.965
	2007	$	1.000000	$	1.120084	0.000
PAM Transamerica U.S. Government Securities VP – Service Class	2009	$	1.091239	$	1.123009	0.000
Subaccount Inception Date November 3, 2003	2008	$	1.028649	$	1.091239	0.000
	2007	$	1.000000	$	1.028649	0.000

84

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.25%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
Invesco V.I. Basic Value Fund – Series II Shares(11)	2009	$	0.454172	$	0.662709	6,730.038
Subaccount Inception Date May 1, 2002	2008	$	0.956149	$	0.454172	6,730.038
	2007	$	1.000000	$	0.956149	0.000
Invesco V.I. Capital Appreciation Fund – Series II Shares(11)	2009	$	0.591556	$	0.705296	0.000
Subaccount Inception Date May 1, 2002	2008	$	1.044012	$	0.591556	0.000
	2007	$	1.000000	$	1.044012	0.000
AllianceBernstein Growth and Income Portfolio – Class B	2009	$	0.583523	$	0.693596	0.000
Subaccount Inception Date May 1, 2001	2008	$	0.996279	$	0.583523	0.000
	2007	$	1.000000	$	0.996279	0.000
AllianceBernstein Large Cap Growth Portfolio – Class B	2009	$	0.645899	$	0.874638	0.000
Subaccount Inception Date May 1, 2001	2008	$	1.086768	$	0.645899	0.000
	2007	$	1.000000	$	1.086768	0.000
Fidelity VIP Contrafund ® Portfolio – Service Class 2	2009	$	0.626367	$	0.838051	38,114.885
Subaccount Inception Date May 1, 2000	2008	$	1.106693	$	0.626367	58,886.927
	2007	$	1.000000	$	1.106693	26,292.375
Fidelity VIP Equity-Income Portfolio – Service Class 2	2009	$	0.534361	$	0.685479	19,540.326
Subaccount Inception Date May 1, 2000	2008	$	0.946121	$	0.534361	0.000
	2007	$	1.000000	$	0.946121	0.000
Fidelity VIP Growth Portfolio – Service Class 2	2009	$	0.618145	$	0.781239	188,675.400
Subaccount Inception Date May 1, 2001	2008	$	1.187869	$	0.618145	78,699.092
	2007	$	1.000000	$	1.187869	0.000
Fidelity VIP Growth Opportunities Portfolio – Service Class 2	2009	$	0.497297	$	0.714448	140.226
Subaccount Inception Date May 1, 2000	2008	$	1.122406	$	0.497297	140.226
	2007	$	1.000000	$	1.122406	0.000
Fidelity VIP Mid Cap Portfolio – Service Class 2	2009	$	0.634696	$	0.876053	130,784.396
Subaccount Inception Date May 1, 2000	2008	$	1.064131	$	0.634696	95,843.655
	2007	$	1.000000	$	1.064131	0.000
Fidelity VIP Value Strategies Portfolio – Service Class 2	2009	$	0.447216	$	0.694130	321,966.434
Subaccount Inception Date May 1, 2002	2008	$	0.929567	$	0.447216	145,251.507
	2007	$	1.000000	$	0.929567	0.000
Franklin Income Securities Fund – Class 2	2009	$	0.674813	$	0.903723	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.971353	$	0.674813	0.000
	2007	$	1.000000	$	0.971353	0.000
Mutual Shares Securities Fund – Class 2	2009	$	0.599635	$	0.746489	0.000
Subaccount Inception Date May 1, 2007	2008	$	0.965403	$	0.599635	0.000
	2007	$	1.000000	$	0.9655403	0.000
Templeton Foreign Securities Fund – Class 2	2009	$	0.630121	$	0.852876	3,868.450
Subaccount Inception Date May 1, 2007	2008	$	1.070130	$	0.630121	3,873.326
	2007	$	1.000000	$	1.070130	0.000
Janus Aspen – Enterprise Portfolio – Service Shares	2009	$	0.605702	$	0.864100	5,092.875
Subaccount Inception Date October 9, 2000	2008	$	1.092409	$	0.605702	5,092.875
	2007	$	1.000000	$	1.092409	0.000
Janus Aspen – Perkins Mid Cap Value Portfolio – Service Shares	2009	$	0.703750	$	0.923874	1,889.194
Subaccount Inception Date October 9, 2000	2008	$	0.988260	$	0.703750	1,893.494
	2007	$	1.000000	$	0.988260	0.000
Janus Aspen – Worldwide Portfolio – Service Shares	2009	$	0.544832	$	0.739380	67,651.539
Subaccount Inception Date October 9, 2000	2008	$	0.999557	$	0.544832	0.000
	2007	$	1.000000	$	0.999557	0.000

85

CONDENSED FINANCIAL INFORMATION — (Continued)

		1.25%
Subaccount	Year	Beginning AUV		Ending AUV		# Units
MFS ® New Discovery Series – Service Class	2009	$	0.564330	$	0.908059	22,342.919
Subaccount Inception Date May 1, 2002	2008	$	0.944800	$	0.564330	1,662.215
	2007	$	1.000000	$	0.944800	0.000
MFS ® Total Return Series – Service Class	2009	$	0.753440	$	0.876023	48,063.575
Subaccount Inception Date May 1, 2002	2008	$	0.982111	$	0.753440	36,892.965
	2007	$	1.000000	$	0.982111	0.000
Transamerica BlackRock Tactical Allocation VP – Service Class
Subaccount inception date May 1, 2009	2009	$	0.993371	$	1.003480	0.000
Transamerica Index 35 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999966	$	0.998540	0.000
Transamerica Index 50 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.991650	$	0.996462	0.000
Transamerica Index 75 VP – Service Class
Subaccount inception date May 1, 2008	2009	$	0.988780	$	0.999658	0.000
Transamerica Index 100 VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.999966	$	1.024505	0.000
Transamerica JPMorgan Mid Cap Value VP – Service Class
Subaccount inception date November 19, 2009	2009	$	0.985165	$	1.029949	0.000

⁽¹⁾ Transamerica American Century Large Company Value VP, Transamerica Capital Guardian Value VP and Transamerica T. Rowe Price Equity Income VP merged into Transamerica BlackRock Large Cap Value VP.

⁽²⁾ Transamerica Marsico Growth VP and Transamerica T. Rowe Price Growth Stock VP merged into Transamerica Jennison Growth VP.

⁽³⁾ Formerly known as Transamerica Legg Mason Partners All Cap VP.

⁽⁴⁾ Formerly known as Transamerica MFS High Yield VP.

⁽⁵⁾ Transamerica Science & Technology VP merged into Transamerica Templeton Global VP and Transamerica Templeton Global VP changed its name to Transamerica Diversified Equity VP.

⁽⁶⁾ Transamerica Value Balanced VP merged into Transamerica Balanced VP.

⁽⁷⁾ Formerly known as Transamerica Equity VP.

⁽⁸⁾ Formerly known as Transamerica Van Kampen Active International Allocation VP.

⁽⁹⁾ Formerly known as Transamerica Van Kampen Large Cap Core VP.

⁽¹⁰⁾ Formerly known as Transamerica Van Kampen Mid-Cap Growth VP.

⁽¹¹⁾ References to “AIM” have been replaced with “Invesco” due to branding changes.

86

APPENDIX

OA METHOD TRANSFERS

To make the Retirement Income Choice 1.2 Benefit available, we monitor your policy value and guarantees under the rider daily and periodically transfer amounts between your selected investment options and the OA Subaccount. We determine the amount and timing of OA Method transfers between the investment options and the OA Subaccount according to a mathematical model.

The mathematical model is designed to calculate how much of your policy value should be allocated to the OA Subaccount. Based on this calculation, transfers into or out of the OA Subaccount will occur (subject to the previously disclosed thresholds). The formula is:

Percent of Policy Value required in OA Subaccount (or X) = e-^{Dividend*Time} *(1- NormDist(d1))

where:

e = Base of the Natural Logarithm

NormDist = Cumulative Standard Normal Distribution

d1 = [ln(G)+(R – F +.5*V ^ 2)* T]/[V * T^.5]

In order to calculate the percent of policy value required in the OA Subaccount, we must first calculate d1:

d1 = [ln(G)+(R – F +.5*V ^ 2)* T]/[V * T^.5]

where:

ln = Natural Logarithm Function

G = Guarantee Ratio

R = Rate

F = Fees

V = Volatility

T = Time

After calculating d1, the percent of policy value required in the OA Subaccount can be calculated. Once calculated, appropriate transfers into or out of the OA Subaccount will occur (subject to the thresholds).

Following is a brief discussion of the values used in the formula.

The POLICY VALUE includes the value in both the investment options and in the OA Subaccount.

The GUARANTEE RATIO is the policy value divided by the greater of (1) premiums minus any adjusted partial withdrawals or (2) present value of rider withdrawal amount (the present value of the rider amount looks at the sum of the expected lifetime payments discounted using a factor of [5.5]).

87

OA METHOD TRANSFERS — (Continued)

The RATE is the interest rate used for the OA Method. It is based on a long-term expectation based on historical interest rates and may vary over time.

The FEES is an approximation of average policy fees and charges associated with policies that have elected the RIC 1.2 rider. This value may change over time.

The VOLATILITY represents the volatility of the returns of policy value for all in force policies and is based on the long-term expectation of the degree to which the policy values tend to fluctuate. This value may vary over time.

The TIME is an approximation based on actuarial calculations of historical average number of years (including any fraction) which we anticipate remain until any potential payments are made under the benefit. This value may vary over time.

The PERCENT OF POLICY VALUE TO BE ALLOCATED TO THE OA SUBACCOUNT is computed for each policy. Ultimately the allocation for a policy takes into account the guarantees under the rider and the limit on allocations to the OA Subaccount.

The CUMULATIVE STANDARD NORMAL DISTRIBUTION function assumes that random events are distributed according to the classic bell curve. For a given value it computes the percentage of such events which can be expected to be less than that value.

The NATURAL LOGARITHM function for a given value, computes the power to which e must be raised, in order to result in that value. Here, e is the base of the natural logarithms, or approximately 2.718282.

Example:

Day 1: Policy Value Declines by 10%

For purposes of this example we will assume that the policy value declines by 10% to $90,000 the day after the rider issue date from the initial premium amount of $100,000 producing a guarantee ratio of 90% ($90,000/$100,000). We will also assume:

Guarantee Ratio = 90%

Rate = 4.5%

Volatility = 10%

Fees = 3%

Time = 20

First we calculate d1.

d1=[ln(G)+(R – F +.5*V ^ 2)* T]/[V * T^.5]

d1=[ln(.90)+(.045 – .03 +.5*.10 ^ 2)* 20]/[.10 * 20^.5]

d1=.658832

88

OA METHOD TRANSFERS — (Continued)

Using the value we just calculated for d1 we can now calculate the percent of policy value required in the OA Subaccount.

Percent of Policy Value in OA Subaccount (or X) = e-^{Dividend*Time} * (1-NormDist(d1))

X= (2.718282 ^ -.03 * 20) * (1 – NormDist(.658832))

X = 13.9948%

Therefore, 13.9948% of the policy value is transferred to the OA Subaccount, resulting in a total transfer of $12,595.32.

Day 2: Policy Value Recovers to 105% of Initial Value after the 10% Decline

For purposes of this example we will assume that after the policy value declined to $90,000 it recovered the next day to $105,000 producing a guarantee ratio of 105% ($105,000/$100,000). We will also assume:

Guarantee Ratio = 105%

Rate = 4.5%

Volatility = 10%

Fees = 3%

Time = 20

First we calculate d1.

d1=[ln(G)+(R – F +.5*V ^ 2)* T]/[V * T^.5]

d1=[ln(1.05)+(.045 – .03 +.5*.10 ^ 2)* 20]/[.10 * 20^.5]

d1= 1.003524

Using the value we just calculated for d1 we can now calculate the percent of policy value required in the OA Subaccount.

Percent of Policy Value in OA Subaccount (or X) = e-^{Dividend*Time} * (1 - NormDist(d1))

X= (2.718282 ^ -.03 * 20) * (1 – NormDist(1.003524))

X = 8.6605%

While the mathematical model would suggest we transfer only a portion of the policy value in the OA Subaccount into your investment options (leaving 8.6605% in the OA Subaccount), all of the policy value in the OA Subaccount will be transferred into your investment options. If the Guarantee Ratio equals or exceeds 100%, then your policy value is greater than or equal to the value of the guarantee and there is no current need for any policy value to be allocated to the OA Subaccount.

89

FINANCIAL STATEMENTS AND SCHEDULES – STATUTORY BASIS

Transamerica Life Insurance Company

Years Ended December 31, 2009, 2008, and 2007

Transamerica Life Insurance Company

Financial Statements and Schedules – Statutory Basis

Years Ended December 31, 2009, 2008, and 2007

Contents

Report of Independent Registered Public Accounting Firm	1
Audited Financial Statements
Balance Sheets – Statutory Basis	3
Statements of Operations – Statutory Basis	5
Statements of Changes in Capital and Surplus – Statutory Basis	7
Statements of Cash Flow – Statutory Basis	10
Notes to Financial Statements – Statutory Basis	12
Statutory-Basis Financial Statement Schedules
Summary of Investments – Other Than Investments in Related Parties	102
Supplementary Insurance Information	103
Reinsurance	104

Report of Independent Registered Public Accounting Firm

The Board of Directors

Transamerica Life Insurance Company

We have audited the accompanying statutory-basis balance sheets of Transamerica Life Insurance Company (the Company) as of December 31, 2009 and 2008, and the related statutory-basis statements of operations, changes in capital and surplus, and cash flow for each of the three years in the period ended December 31, 2009. Our audits also included the statutory-basis financial statement schedules required by Regulation S-X, Article 7. These financial statements and schedules are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Company’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also 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.

As described in Note 1 to the financial statements, the Company presents its financial statements in conformity with accounting practices prescribed or permitted by the Insurance Division, Department of Commerce, of the State of Iowa, which practices differ from U.S. generally accepted accounting principles. The variances between such practices and U.S. generally accepted accounting principles also are described in Note 1. The effects on the financial statements of these variances are not reasonably determinable but are presumed to be material.

In our opinion, because of the effects of the matter described in the preceding paragraph, the financial statements referred to above do not present fairly, in conformity with U.S. generally accepted accounting principles, the financial position of Transamerica Life Insurance Company at December 31, 2009 and 2008, or the results of its operations or its cash flow for each of the three years in the period ended December 31, 2009.

A member firm of Ernst & Young Global Limited

1

However, in our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Transamerica Life Insurance Company at December 31, 2009 and 2008, and the results of its operations and its cash flow for each of the three years in the period ended December 31, 2009, in conformity with accounting practices prescribed or permitted by the Insurance Division, Department of Commerce, of the State of Iowa. Also, in our opinion, the related financial statement schedules, when considered in relation to the basic statutory-basis financial statements taken as a whole, present fairly in all material respects the information set forth therein.

As discussed in Noted 1 to the financial statements, at December 31, 2009, Transamerica Life Insurance Company changed its accounting for deferred income taxes in accordance with Statement of Statutory Accounting Principles (SSAP) No. 10R, Income Taxes – Revised, A Temporary Replacement of SSAP No. 10. Also, as discussed in Note 1 to the financial statements, during 2009, Transamerica Life Insurance Company changed its accounting for investments in loan backed and structured securities in accordance with SSAP No. 43 – Revised, Loan-backed and structured Securities. As discussed in Note 2 to the financial statements, Transamerica Life Insurance Company, with the permission of the Insurance Division, Department of Commerce, of the State of Iowa, changed its policy for deferred income taxes at December 31, 2008. As discussed in Note 3 to the financial statements, Transamerica Life Insurance Company, with the permission of the Insurance Division, Department of Commerce, of the State of Iowa, changed its policy related to its calculation of reserves related to synthetic guaranteed investment contracts at December 31, 2008. During 2009 the Company reverted to its previous accounting policy.

April 19, 2010

2

Transamerica Life Insurance Company

Balance Sheets – Statutory Basis

(Dollars in Thousands, Except per Share Amounts)

	December 31
	2009		2008
			Restated
Admitted assets
Cash and invested assets:
Cash, cash equivalents and short-term investments	$	3,912,309	$	3,358,568
Bonds:
Affiliated entities		126,306		268,482
Unaffiliated		47,035,463		51,192,348
Preferred stocks:
Affiliated entities		7,632		8,901
Unaffiliated		152,661		1,817,213
Common stocks:
Affiliated entities (cost: 2009 - $681,297; 2008 - $747,489)		657,018		684,654
Unaffiliated (cost: 2009 - $360,043; 2008 - $347,391)		389,485		340,736
Mortgage loans on real estate		9,357,158		10,877,725
Real estate, at cost less accumulated depreciation (2009 - $52,214; 2008 - $43,262)
Home office properties		83,938		85,820
Investment properties		35,618		36,496
Properties held for sale		6,250		31,125
Policy loans		759,957		732,588
Receivables for securities		11,395		39,662
Other invested asset receivable		—		191,348
Derivatives		105,704		390,101
Collateral balance		22,733		68,410
Other invested assets		2,590,207		3,110,823
Total cash and invested assets		65,253,834		73,235,000
Accrued investment income		567,326		722,375
Cash surrender value of life insurance policies		289,559		279,903
Premiums deferred and uncollected		280,202		167,585
Current federal income tax recoverable		288,946		352,428
Net deferred income tax asset		649,556		889,160
Reinsurance receivable		300,991		310,903
Receivable from parent, subsidiaries and affiliates		187,751		217,479
Accounts receivable		171,140		154,931
General agents pension fund		43,136		52,151
Reinsurance deposit receivable		137,437		128,745
Goodwill		52,124		60,765
Other assets		27,654		34,785
Separate account assets		33,205,532		27,404,629
Total admitted assets	$	101,455,188	$	104,010,839

3

	December 31
	2009			2008
				Restated
Liabilities and capital and surplus
Liabilities:
Aggregate reserves for policies and contracts:
Life	$	14,924,136		$	15,135,006
Annuity		19,080,480			23,412,004
Accident and health		3,317,854			3,187,937
Policy and contract claim reserves:
Life		325,407			283,481
Accident and health		194,930			200,884
Liability for deposit-type contracts		8,259,686			13,945,417
Other policyholders’ funds		21,006			20,405
Municipal reverse repurchase agreements		632,109			365,846
Remittances and items not allocated		507,629			524,661
Case level liability		13,236			13,761
Asset valuation reserve		868,688			1,273,357
Interest maintenance reserve		203,669			384,601
Funds held under reinsurance treaties		14,073,538			12,127,743
Reinsurance in unauthorized reinsurers		11,969			46,935
Commissions and expense allowances payable on reinsurance assumed		61,500			58,685
Payable to affiliates		270,421			244,864
Payable for securities		68,822			32,185
Securities lending liability		—			54,033
Transfers from separate accounts due or accrued (including $(528,931) and $(512,661) accrued for expense allowances recognized in reserves, net of reinsurance allowances at December 31, 2009 and 2008, respectively)		(638,467	)		(537,656	)
Amounts withheld or retained		169,294			155,233
Derivatives		357,733			225,884
Amounts incurred under modified coinsurance agreement		103,249			212,543
Other liabilities		455,899			444,920
Separate account liabilities		33,145,575			27,357,976
Total liabilities		96,428,363			99,170,705
Capital and surplus:
Common stock, $10 per share par value, 1,000,000 shares authorized, 676,190 issued and outstanding at December 31, 2009 and 2008; Participating common stock, $1 per share par value, 0 and 3,000 shares authorized and 0 and 1,500 shares issued and outstanding at December 31, 2009 and 2008, respectively		6,762			6,764
Preferred stock, Series A, $10 per share par value, 42,500 shares authorized and issued (total liquidation value - $58,000) at December 31, 2009 and 2008; Series B, $10 per share par value, 250,000 shares authorized, 117,154 and 174,494 shares issued and 117,154 and 117,154 shares outstanding (total liquidation value - $1,171,540 and $1,744,940) at December 31, 2009 and 2008, respectively.		1,597			2,170
Treasury stock, Series A Preferred, $10 per share par value, 42,500 shares as of December 31, 2009 and 2008 and Series B Preferred, $10 per share par value, 0 and 57,340 shares as of December 31, 2009 and 2008, respectively		(58,000	)		(631,400	)
Aggregate write-ins for other than special surplus funds		295,260			380,358
Participating shareholders’ surplus		—			378
Surplus notes		150,000			150,000
Paid-in surplus		3,113,948			3,186,991
Unassigned surplus		1,517,258			1,744,873
Total capital and surplus		5,026,825			4,840,134
Total liabilities and capital and surplus	$	101,455,188		$	104,010,839

See accompanying notes.

4

Transamerica Life Insurance Company

Statements of Operations – Statutory Basis

(Dollars in Thousands)

	Year Ended December 31
	2009			2008			2007
				Restated			Restated
Revenues:
Premiums and other considerations, net of reinsurance:
Life	$	1,409,443		$	2,111,417		$	1,972,610
Annuity		5,997,868			4,700,329			5,598,533
Accident and health		692,821			706,198			705,819
Net investment income		3,073,157			3,886,926			4,212,471
Amortization of interest maintenance reserve		(11,138	)		29,315			42,061
Commissions and expense allowances on reinsurance ceded		844,831			(325,830	)		132,642
Income from fees associated with investment management, administration and contract guarantees for separate accounts		376,545			399,445			439,852
Reserve adjustment on reinsurance ceded		(372,022	)		10,159,202			1,261,103
Consideration on reinsurance transaction		107			16,542			889,492
Income from administrative service agreement with affilate		40,040			44,122			49,346
Other income		92,279			16,005			109,726
		12,143,931			21,743,671			15,413,655
Benefits and expenses:
Benefits paid or provided for:
Life benefits		1,077,203			1,028,573			1,204,979
Accident and health benefits		436,567			492,379			358,208
Annuity benefits		1,304,213			1,597,820			1,738,312
Surrender benefits		4,979,209			7,773,476			9,716,655
Other benefits		142,045			742,343			867,274
Increase (decrease) in aggregate reserves for policies and contracts:
Life		(236,536	)		19,920			157,650
Annuity		(4,337,005	)		(3,440,891	)		(4,436,268	)
Accident and health		129,917			124,958			312,042
		3,495,613			8,338,578			9,918,852
Insurance expenses:
Commissions		1,315,400			1,445,898			1,344,904
General insurance expenses		636,705			683,967			676,792
Taxes, licenses and fees		102,602			147,885			132,399
Net transfers to separate accounts		2,117,009			529,435			1,582,484
Change in case level liability		(525	)		(6,800	)		20,561
Consideration paid on reinsurance transactions		3,476,850			11,319,684			1,269,469
Other expenses		400,113			292,871			269,443
		8,048,154			14,412,940			5,296,052
Total benefits and expenses		11,543,767			22,751,518			15,214,904
Gain (loss) from operations before dividends to policyholders, federal income tax expense and net realized capital gains (losses) on investments	$	600,164		$	(1,007,847	)	$	198,751

5

Transamerica Life Insurance Company

Statements of Operations – Statutory Basis (continued)

(Dollars in Thousands)

	Year Ended December 31
	2009			2008			2007
				Restated			Restated
Dividends to policyholders	$	11,010		$	12,165		$	17,417
Gain (loss) from operations before federal income tax (benefit) expense and net realized capital gains (losses) on investments		589,154			(1,020,012	)		181,334
Federal income tax (benefit) expense		(104,942	)		(32,376	)		203,001
Gain (loss) from operations before net realized capital gains (losses) on investments		694,096			(987,636	)		(21,667	)
Net realized capital gains (losses) on investments (net of related federal income taxes and amounts transferred to/from interest maintenance reserve)		(700,521	)		366,218			313,799
Net income (loss)	$	(6,425	)	$	(621,418	)	$	292,132

See accompanying notes.

6

Transamerica Life Insurance Company

Statements of Changes in Capital and Surplus – Statutory Basis

(Dollars in Thousands)

	Common Stock			Preferred Stock		Treasury Stock			Aggregate Write-ins for  Other than Special Surplus Funds		Participating Shareholders’ Surplus			Surplus Notes		Paid-in Surplus			Unassigned Surplus			Total Capital and Surplus
Balance at January 1, 2007
As originally presented	$	6,762		$	2,168	$	(58,000	)	$	—	$	—		$	150,000	$	2,969,407		$	1,348,204		$	4,418,541
Merger of Iowa Fidelity Life Insurance Company (IFLIC)		204			—		—			—		1,931			—		204			779			3,118
Merger adjustment - retire IFLIC common stock		(200	)		—		—			—		—			—		200			—			—
Issuance of stock in connection with statutory merger		—			2		—			—		—			—		(2	)		—			—
Balance at January 1, 2007, as restated	$	6,766		$	2,170	$	(58,000	)	$	—	$	1,931		$	150,000	$	2,969,809		$	1,348,983		$	4,421,659
Net income		—			—		—			—		—			—		—			292,132			292,132
Change in net unrealized capital gains/losses, net of tax		—			—		—			—		—			—		—			801,520			801,520
Nonadmit value of reciprocal ownership		—			—		—			—		—			—		—			(520,370	)		(520,370	)
Change in net unrealized foreign exchange capital gains/losses, net of tax		—			—		—			—		—			—		—			15,068			15,068
Change in net deferred income tax asset		—			—		—			—		—			—		—			12,119			12,119
Change in other nonadmitted assets		—			—		—			—		—			—		—			100,510			100,510
Change in provision for reinsurance in unauthorized companies		—			—		—			—		—			—		—			(32,606	)		(32,606	)
Change in reserve on account of change in valuation basis		—			—		—			—		—			—		—			(16,591	)		(16,591	)
Change in asset valuation reserve		—			—		—			—		—			—		—			(98,463	)		(98,463	)
Change in surplus in separate accounts		—			—		—			—		—			—		—			11,642			11,642
Reinsurance transactions		—			—		—			—		—			—		—			618,363			618,363
Repurchase of Series B preferred stock		—			—		(573,400	)		—		—			—		—			—			(573,400	)
Correction of prior period error		—			—		—			—		—			—		—			(29,287	)		(29,287	)
Return of capital related to stock appreciation rights plan of indirect parent		—			—		—			—		—			—		(5,535	)		—			(5,535	)
Tax benefits on stock options exercised		—			—		—			—		—			—		23			—			23
Dividends to stockholders		—			—		—			—		—			—		—			(381,600	)		(381,600	)
Return of capital		—			—		—			—		—			—		(270,000	)		—			(270,000	)
Redemption of participating common stock		(1	)		—		—			—		(81	)		—		(1	)		—			(83	)
Participating shareholder activity		—			—		—			—		152			—		—			(152	)		—
Balance at December 31, 2007, as restated	$	6,765		$	2,170	$	(631,400	)	$	—	$	2,002		$	150,000	$	2,694,296		$	2,121,268		$	4,345,101

7

Transamerica Life Insurance Company

Statements of Changes in Capital and Surplus – Statutory Basis (continued)

(Dollars in Thousands)

	Common Stock			Preferred Stock		Treasury Stock			Aggregate Write-ins for  Other than Special Surplus Funds		Participating Shareholders’ Surplus			Surplus Notes		Paid-in Surplus			Unassigned Surplus			Total Capital and Surplus
Balance at December 31, 2007, as restated	$	6,765		$	2,170	$	(631,400	)	$	—	$	2,002		$	150,000	$	2,694,296		$	2,121,268		$	4,345,101
Net loss		—			—		—			—		—			—		—			(621,418	)		(621,418	)
Change in net unrealized capital gains/losses, net of tax		—			—		—			—		—			—		—			(337,437	)		(337,437	)
Change in net unrealized foreign exchange gains/losses, net of tax		—			—		—			—		—			—		—			(20,767	)		(20,767	)
Change in net deferred income tax asset																				(208,565	)		(208,565	)
Change in other nonadmitted assets		—			—		—			—		—			—		—			(85,798	)		(85,798	)
Change in provision for reinsurance in unauthorized companies		—			—		—			—		—			—		—			19,970			19,970
Change in reserve on account of change in valuation basis		—			—		—			—		—			—		—			35,039			35,039
Change in asset valuation reserve		—			—		—			—		—			—		—			255,123			255,123
Change in surplus in separate accounts		—			—		—			—		—			—		—			(40,108	)		(40,108	)
Reinsurance transactions		—			—		—			—		—			—		—			962,518			962,518
Increase in admitted deferred tax due to permitted practice		—			—		—			380,358		—			—		—			—			380,358
Correction of interest on taxes																				(969	)		(969	)
Dividends to stockholders		—			—		—			—		—			—		—			(316,438	)		(316,438	)
Change in deferred premiums associated with reserve valuation change		—			—		—			—		—			—		—			(17,488	)		(17,488	)
Return of capital related to stock rights plan of indirect parent		—			—		—			—		—			—		(14,543	)		—			(14,543	)
Capital contribution		—			—		—			—		—			—		507,239			—			507,239
Redemption of participating common stock		(1	)		—		—			—		(1,681	)		—		(1	)		—			(1,683	)
Participating shareholder activity		—			—		—			—		57			—		—			(57	)		—
Balance at December 31, 2008, as restated	$	6,764		$	2,170	$	(631,400	)	$	380,358	$	378		$	150,000	$	3,186,991		$	1,744,873		$	4,840,134

8

Transamerica Life Insurance Company

Statements of Changes in Capital and Surplus – Statutory Basis (continued)

(Dollars in Thousands)

	Common Stock			Preferred Stock			Treasury Stock			Aggregate Write-ins for Other than Special Surplus Funds			Participating Shareholders’ Surplus			Surplus Notes		Paid-in Surplus			Unassigned Surplus			Total Capital and Surplus
Balance at December 31, 2008, as restated	$	6,764		$	2,170		$	(631,400	)	$	380,358		$	378		$	150,000	$	3,186,991		$	1,744,873			4,840,134
Cumulative effect of change in accounting principle		—			—			—			—			—			—		—			(9,707	)		(9,707	)
Net loss		—			—			—			—			—			—		—			(6,425	)		(6,425	)
Change in net unrealized capital gains/losses, net of tax		—			—			—			—			—			—		—			(381,912	)		(381,912	)
Change in net unrealized foreign exchange capital gains/losses, net of tax		—			—			—			—			—			—		—			11,139			11,139
Change in net deferred income tax asset		—			—			—			—			—			—		—			(169,940	)		(169,940	)
Change in other nonadmitted assets		—			—			—			—			—			—		—			(170,812	)		(170,812	)
Change in provision for reinsurance in unauthorized companies		—			—			—			—			—			—		—			34,966			34,966
Change in reserve on account of change in valuation basis		—			—			—			—			—			—		—			(31,058	)		(31,058	)
Change in asset valuation reserve		—			—			—			—			—			—		—			398,394			398,394
Change in surplus in separate accounts		—			—			—			—			—			—		—			13,315			13,315
Reinsurance transactions		—			—			—			—			—			—		—			71,455			71,455
Decrease in admitted deferred tax attributable to expiration of permitted practice		—			—			—			(380,358	)		—			—		—			—			(380,358	)
Increase in admitted deferred tax asset pursuant to SSAP No. 10R		—			—			—			295,260			—			—		—			—			295,260
Corrections of errors		—			(573	)		573,400			—			—			—		(572,827	)		(898	)		(898	)
Dividends to stockholders		—			—			—			—			—			—		—			(10,031	)		(10,031	)
Return of capital related to stock appreciation rights plan of indirect parent		—			—			—			—			—			—		(214	)		—			(214	)
Dissolution of affiliate into the Company		—			—			—			—			—			—		—			23,938			23,938
Capital contribution		—			—			—			—			—			—		500,000			—			500,000
Redemption of participating common stock		(2	)		—			—			—			(417	)		—		(2	)		—			(421	)
Participating shareholder activity		—			—			—			—			39			—		—			(39	)		—
Balance at December 31, 2009	$	6,762		$	1,597		$	(58,000	)	$	295,260		$	—		$	150,000	$	3,113,948		$	1,517,258		$	5,026,825

See accompanying notes.

9

Transamerica Life Insurance Company

Statements of Cash Flow – Statutory Basis

(Dollars in Thousands)

	Year Ended December 31
	2009			2008			2007
				Restated			Restated
Operating activities
Premiums collected, net of reinsurance	$	7,981,888		$	7,620,124		$	8,360,467
Net investment income received		3,266,446			4,386,609			4,492,638
Miscellaneous (expense) income		(127,792	)		914,930			2,747,579
Benefit and loss related payments		(8,847,466	)		(11,345,127	)		(14,692,590	)
Net transfers to separate accounts		(1,776,576	)		(238,756	)		(1,843,501	)
Commissions, expenses paid and aggregate write-ins for deductions		(5,957,821	)		(3,225,421	)		(3,239,920	)
Dividends paid to policyholders		(11,386	)		(13,295	)		(17,465	)
Federal and foreign income taxes recovered (paid)		391,699			(398,359	)		(330,398	)
Net cash used in operating activities		(5,081,008	)		(2,299,295	)		(4,523,190	)
Investing activities
Proceeds from investments sold, matured or repaid:
Bonds		16,975,896			19,888,559			34,578,927
Common stocks		141,360			131,682			726,484
Preferred stocks		100,705			439,153			932,541
Mortgage loans		1,682,140			1,146,455			1,896,250
Real estate and properties held for sale		24,100			49,453			5,581
Other invested assets		560,339			2,592,998			911,357
Receivable for securities		78,827			18,350			131,606
Miscellaneous proceeds		266,646			61,311			40,327
Total investment proceeds		19,830,013			24,327,961			39,223,073
Costs of investments acquired:
Bonds		(11,629,415	)		(20,039,680	)		(29,668,399	)
Common stocks		(92,767	)		(440,692	)		(375,029	)
Preferred stocks		(115,980	)		(355,870	)		(339,964	)
Mortgage loans		(231,832	)		(398,019	)		(2,394,881	)
Real estate and properties held for sale		(1,100	)		(11,405	)		(7,152	)
Other invested assets		(296,564	)		(1,819,475	)		(1,223,973	)
Payable for securities		—			(131,194	)		(115,668	)
Miscellaneous applications		(451,760	)		(278,394	)		(8,050	)
Total cost of investments acquired		(12,819,418	)		(23,474,729	)		(34,133,116	)
Net (increase) decrease in policy loans		(27,369	)		(41,733	)		30,836
Net cost of investments acquired		(12,846,787	)		(23,516,462	)		(34,102,280	)
Net cash provided by investing activities		6,983,226			811,499			5,120,793

10

Transamerica Life Insurance Company

Statements of Cash Flow – Statutory Basis (continued)

(Dollars in Thousands)

	Year Ended December 31
	2009			2008			2007
				Restated			Restated
Financing and miscellaneous activities
Net borrowed funds returned	$	—		$	—		$	(824,011	)
Net withdrawals on deposit-type contract funds and other liabilities without life or disability contingencies		(5,137,903	)		(735,535	)		(149,112	)
Funds held under reinsurance treaties with unauthorized reinsurers		1,942,945			4,819,583			1,117,443
Dividends paid to stockholders		(10,031	)		(316,438	)		(381,600	)
Repurchase of preferred stock		—			—			(573,400	)
Return of capital		—			—			(270,000	)
Redemption of participating shareholders		(421	)		(1,683	)		(83	)
Capital contribution received		500,000			507,239			—
Receivable from parent, subsidiaries and affiliates		29,728			64,157			22,542
Payable to parent, subsidiaries and affiliates		25,557			(96,126	)		33,443
Other cash provided (used)		1,301,648			(1,250,156	)		(122,439	)
Net cash provided by (used in) financing and miscellaneous activities		(1,348,477	)		2,991,041			(1,147,217	)
Net increase (decrease) in cash, cash equivalents and short-term investments		553,741			1,503,245			(549,614	)
Cash, cash equivalents and short-term investments:
Beginning of year		3,358,568			1,855,323			2,404,937
End of year	$	3,912,309		$	3,358,568		$	1,855,323

See accompanying notes.

11

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis

(Dollars in Thousands, Except per Share amounts)

December 31, 2009

1. Organization and Summary of Significant Accounting Policies

Transamerica Life Insurance Company (the Company) is a stock life insurance company owned by Transamerica Corporation (74.01% of preferred shares), AEGON USA, LLC (25.99% of preferred shares), and Transamerica International Holdings, Inc. (100% of common shares). Prior to the mergers, discussed below, the Company was owned by AEGON USA, LLC (100% of preferred shares) and Transamerica Occidental Life Insurance Company (100% of common shares). Transamerica Corporation (Transamerica), AEGON USA, LLC (AEGON), Transamerica International Holdings, Inc. (TIHI) and Transamerica Occidental Life Insurance Company (TOLIC) are indirect wholly-owned subsidiaries of AEGON N.V., a holding company organized under the laws of The Netherlands.

On October 1, 2009, the Company completed a merger with Iowa Fidelity Life Insurance Company (IFLIC), which was wholly owned by AEGON. Prior to the merger, IFLIC was partially owned by external shareholders holding 1,500 shares of participating common stock. All shares of participating common stock were redeemed prior to the merger in exchange for cash in the amount of $421. The merger was accounted for in accordance with Statement of Statutory Accounting Principles (SSAP) No. 68, Business Combinations and Goodwill, as a statutory merger. As such, financial statements for periods prior to the merger were combined and the recorded assets, liabilities and surplus of IFLIC were carried forward to the merged company. As a result of the merger, IFLIC’s common stock was deemed cancelled by operation of law and the outstanding common shares of IFLIC, on the date of the merger, were retired and considered authorized but unissued stock of the merged entity.

In exchange for its agreement to merge IFLIC into the Company, AEGON received 149 shares of the Company’s Series B preferred shares which are equal in value to the common stock of IFLIC deemed cancelled by the merger.

12

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

	Nine Months Ended September 30 2009			Year Ended December 31 2008			Year Ended December 31 2007
	Unaudited
Revenue:
Company	$	9,299,583		$	21,743,493		$	15,413,360
IFLIC		56			178			295
As restated	$	9,299,639		$	21,743,671		$	15,413,655
Net income (loss):
Company	$	(52,668	)	$	(621,514	)	$	291,924
IFLIC		77			96			208
As restated	$	(52,591	)	$	(621,418	)	$	292,132
	September 30 2009			December 31 2008			December 31 2007
	Unaudited
Assets:
Company	$	100,176,188		$	104,009,037		$	112,675,567
IFLIC		2,462			1,802			3,409
As restated	$	100,178,650		$	104,010,839		$	112,678,976
Liabilities:
Company	$	95,553,461		$	99,170,562		$	108,333,712
IFLIC		493			143			163
As restated	$	95,553,954		$	99,170,705		$	108,333,875
Capital and surplus:
Company	$	4,622,727		$	4,838,475		$	4,341,855
IFLIC		1,969			1,659			3,246
As restated	$	4,624,696		$	4,840,134		$	4,345,101

13

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

On October 1, 2008, the Company completed a merger with TOLIC, which was directly owned by TIHI (100% of common shares) and Transamerica (100% of preferred shares). On October 2, 2008, the Company completed a merger with Life Investors Insurance Company of America (LIICA), which was wholly owned by AEGON. The mergers were accounted for in accordance with SSAP No. 68, as statutory mergers. As such, financial statements for periods prior to the merger were combined and the recorded assets, liabilities and surplus of TOLIC and LIICA were carried forward to the merged company. As a result of the merger, TOLIC and LIICA’s common and preferred stock were deemed cancelled by operation of law and the outstanding common shares of the Company, on the date of the merger, were retired and considered authorized but unissued stock of the merged entity.

In exchange for its agreement to merge TOLIC into the Company, TIHI received common stock of the Company equal in value to the common stock of TOLIC deemed cancelled by the merger and Transamerica received Series B preferred stock of the Company equal in value to the Series B preferred stock of TOLIC deemed cancelled by the merger.

Specifically, TIHI received 676,190 shares of the Company’s common shares, and Transamerica received 86,590 shares of the Company’s Series B preferred shares. In exchange for its agreement to merge LIICA into the Company, AEGON received common stock of TIHI equal in value to the common stock of LIICA deemed cancelled by the merger. Specifically, AEGON received 18 shares of TIHI’s common shares.

Nature of Business

The Company sells individual non-participating whole life, endowment and term contracts, structured settlements, pension products and reinsurance, as well as a broad line of single fixed and flexible premium annuity products, guaranteed interest contracts and funding agreements. In addition, the Company offers group life, universal life, credit life, and individual and specialty health coverages. The Company is licensed in 49 states and the District of Columbia, Guam, Puerto Rico and US Virgin Islands. Sales of the Company’s products are primarily through a network of agents, brokers and financial institutions.

14

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Basis of Presentation

The preparation of financial statements of insurance companies requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein.

The accompanying financial statements have been prepared in conformity with accounting practices prescribed or permitted by the Insurance Division, Department of Commerce, of the State of Iowa, which practices differ from accounting principles generally accepted in the United States (GAAP). The more significant variances from GAAP are:

Investments: Investments in bonds and mandatory redeemable preferred stocks are reported at amortized cost or fair value based on their National Association of Insurance Commissioners (NAIC) rating; for GAAP, such fixed maturity investments would be designated at purchase as held-to-maturity, trading or available-for-sale. Held-to-maturity fixed investments would be reported at amortized cost and the remaining fixed maturity investments would be reported at fair value with unrealized holding gains and losses reported in operations for those designated as trading and as a separate component of other comprehensive income for those designated as available-for-sale. Prior to 2008, fair value for statutory purposes was based on the price published by the Securities Valuation Office of the NAIC (SVO), if available, whereas fair value for GAAP was based on indexes, third party pricing services, brokers, external fund managers and internal models. In 2008, the NAIC adopted regulation allowing insurance companies to report the fair value determined by the SVO or determine the fair value by using a permitted valuation method. Therefore, effective December 31, 2008, fair value for statutory purposes was reported or determined using the following pricing sources: indexes, third party pricing services, brokers, external fund managers and internal models.

All single class and multi-class mortgage-backed/asset-backed securities (e.g., CMOs) are adjusted for the effects of changes in prepayment assumptions on the related accretion of discount or amortization of premium of such securities using either the retrospective or prospective methods. If the fair value of the mortgage-backed/asset-backed security is less than amortized cost, an entity shall assess whether the impairment is other-than-temporary. An other-than-temporary impairment is considered to have occurred if the discounted estimated future cash flows are less than the amortized cost basis of the security. An other-than-temporary impairment is also considered to have occurred if the fair value of the mortgage-backed/asset-backed security is less than its amortized cost basis and the entity intends to sell the security or the entity does not have the intent and ability to hold the security for a period of time sufficient to recover the amortized cost basis.

15

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

If it is determined an other-than-temporary impairment has occurred as a result of the cash flow analysis, the security is written down to the discounted estimated future cash flows. If an other-than-temporary impairment has occurred due to intent to sell or lack of intent and ability to hold, the security is written down to fair value. Prior to 2009, if it was determined that a decline in fair value was other-than-temporary, the cost basis of the security was written down to the undiscounted estimated future cash flows.

For GAAP purposes, all securities, purchased or retained, that represent beneficial interests in securitized assets (e.g., CMO, CBO, CDO, CLO, MBS and ABS securities), other than high credit quality securities, are adjusted using the prospective method when there is a change in estimated future cash flows. If it is determined that a decline in fair value is other-than-temporary and the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the other-than-temporary impairment should be recognized in earnings equal to the entire difference between the amortized cost basis and its fair value at the impairment date. If the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery, the other-than-temporary impairment should be separated into a) the amount representing the credit loss, which is recognized in earnings, and b) the amount related to all other factors, which is recognized in Other Comprehensive Income (OCI), net of applicable taxes. Prior to 2009, if it was determined that a decline in fair value was other-than-temporary, the cost basis of the security was written down to fair value. If high credit quality securities are adjusted, the retrospective method is used.

Derivative instruments used in hedging transactions that meet the criteria of an effective hedge are valued and reported in a manner that is consistent with the hedged asset or liability. Embedded derivatives are not accounted for separately from the host contract. Derivative instruments used in hedging transactions that do not meet or no longer meet the criteria of an effective hedge are accounted for at fair value, and the changes in the fair value are recorded in unassigned surplus as unrealized gains and losses. Under GAAP, the effective and ineffective portions of a single hedge are accounted for separately, an embedded derivative within a contract that is not clearly and closely related to the economic characteristics and risk of the host contract is accounted for separately from the host contract and valued and reported at fair value, and the change in fair value for cash flow hedges is credited or charged directly to a separate component of capital and surplus rather than to income as required for fair value hedges.

Derivative instruments are also used in replication transactions. In these transactions, the derivative is valued in a manner consistent with the cash investment and replicated asset. For GAAP, the derivative is reported at fair value with changes in fair value reported in income.

16

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Investments in real estate are reported net of related obligations rather than on a gross basis as for GAAP. Real estate owned and occupied by the Company is included in investments rather than reported as an operating asset as under GAAP, and investment income and operating expenses for statutory reporting include rent for the Company’s occupancy of those properties. Changes between depreciated cost and admitted asset investment amounts are credited or charged directly to unassigned surplus rather than to income as would be required under GAAP.

Valuation allowances for mortgage loans are established, if necessary, based on the difference between the net value of the collateral, determined as the fair value of the collateral less estimated costs to obtain and sell, and the recorded investment in the mortgage loan. Under GAAP, such allowances are based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, if foreclosure is probable, on the estimated fair value of the collateral.

The initial valuation allowance and subsequent changes in the allowance for mortgage loans are charged or credited directly to unassigned surplus as part of the change in asset valuation reserve (AVR), rather than being included as a component of earnings as would be required under GAAP.

Valuation Reserves: Under a formula prescribed by the NAIC, the Company defers the portion of realized capital gains and losses on sales of fixed income investments, principally bonds and mortgage loans, attributable to changes in the general level of interest rates and amortizes those deferrals over the remaining period to maturity of the bond or mortgage loan based on groupings of individual securities sold in five year bands. That net deferral is reported as the “interest maintenance reserve” (IMR) in the accompanying balance sheets. Realized capital gains and losses are reported in income net of federal income tax and transfers to the IMR. Under GAAP, realized capital gains and losses are reported in the income statement on a pre-tax basis in the period that the assets giving rise to the gains or losses are sold.

The AVR provides a valuation allowance for invested assets. The AVR is determined by an NAIC prescribed formula with changes reflected directly in unassigned surplus; AVR is not recognized for GAAP.

Subsidiaries: The accounts and operations of the Company’s subsidiaries are not consolidated with the accounts and operations of the Company as would be required under GAAP.

17

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Policy Acquisition Costs: The costs of acquiring and renewing business are expensed when incurred. Under GAAP, acquisition costs related to traditional life insurance and certain long duration accident and health insurance, to the extent recoverable from future policy revenues, would be deferred and amortized over the premium-paying period of the related policies using assumptions consistent with those used in computing policy benefit reserves; for universal life insurance and investment products, to the extent recoverable from future gross profits, deferred policy acquisition costs are amortized generally in proportion to the present value of expected gross profits from surrender charges and investment, mortality and expense margins.

Separate Accounts with Guarantees: Some of the Company’s separate accounts provide policyholders with a guaranteed return. These separate accounts are included in the separate account. These separate accounts are included in the general account for GAAP due to the nature of the guaranteed return.

Nonadmitted Assets: Certain assets designated as “nonadmitted”, primarily net deferred tax assets and other assets not specifically identified as an admitted asset within the NAIC Accounting Practices and Procedures Manual (NAIC SAP), are excluded from the accompanying balance sheets and are charged directly to unassigned surplus. Under GAAP, such assets are included in the balance sheet to the extent that those assets are not impaired.

Universal Life and Annuity Policies: Revenues for universal life and annuity policies with mortality or morbidity risk (including annuities with purchase rate guarantees) consist of the entire premium received. Benefits incurred represent surrenders and death benefits paid and the change in policy reserves. Premiums received and benefits incurred for annuity policies without mortality or morbidity risk and guaranteed interest in group annuity contracts are recorded directly to an appropriate policy reserve account, without recognizing premium income or benefits expense. Interest on these policies is reflected in other benefits. Under GAAP, for universal life policies, premiums received in excess of policy charges would not be recognized as premium revenue and benefits would represent interest credited to the account values and the excess of benefits paid over the policy account value. Under GAAP, for all annuity policies without significant mortality risk, premiums received and benefits paid would be recorded directly to the reserve liability.

Benefit Reserves: Certain policy reserves are calculated based on statutorily required interest and mortality assumptions rather than on estimated expected experience or actual account balances as would be required under GAAP.

18

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Reinsurance: Any reinsurance balance amounts deemed to be uncollectible have been written off through a charge to operations. In addition, a liability for reinsurance balances has been provided for unsecured policy reserves ceded to reinsurers not authorized to assume such business. Changes to the liability are credited or charged directly to unassigned surplus. Under GAAP, an allowance for amounts deemed uncollectible would be established through a charge to earnings.

Losses associated with an indemnity reinsurance transaction are reported within income when incurred rather than being deferred and amortized over the remaining life of the underlying reinsured contracts as would be required under GAAP.

Policy and contract liabilities ceded to reinsurers have been reported as reductions of the related reserves rather than as assets as would be required under GAAP.

Commissions allowed by reinsurers on business ceded are reported as income when incurred rather than being deferred and amortized with deferred policy acquisition costs as required under GAAP.

Deferred Income Taxes: Effective December 31, 2009, the Company began computing deferred income taxes in accordance with Statement of Statutory Accounting Principles (SSAP) No. 10R, Income Taxes – Revised, A Temporary Replacement of SSAP No. 10, discussed in further detail in the Recent Accounting Pronouncement section of this note. Under SSAP 10R, deferred income tax assets are limited to 1) the amount of federal income taxes paid in prior years that can be recovered through loss carrybacks for existing temporary differences that reverse during a timeframe corresponding with the Internal Revenue Service tax loss carryback provisions, not to exceed three years, plus 2) the lesser of the remaining gross deferred income tax assets expected to be realized within three years of the balance sheet date or 15% of capital and surplus excluding any net deferred income tax assets, electronic data processing equipment and operating software and any net positive goodwill, plus 3) the amount of remaining gross deferred income tax assets that can be offset against existing gross deferred income tax liabilities after considering the character (i.e., ordinary versus capital) of the deferred tax assets and liabilities. The remaining deferred income tax assets are nonadmitted.

Deferred income taxes do not include amounts for state taxes. Under GAAP, state taxes are included in the computation of deferred income taxes, a deferred income tax asset is recorded for the amount of gross deferred income tax assets expected to be realized in all future years, and a valuation allowance is established for deferred income tax assets not realizable.

19

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Goodwill: Goodwill is admitted subject to an aggregate limitation of ten percent of the capital and surplus in the most recently filed annual statement excluding electronic data processing equipment, operating system software, net deferred income tax assets and net positive goodwill. Excess goodwill is nonadmitted. Goodwill is amortized over ten years. Under GAAP, goodwill is measured as the excess of the consideration transferred plus the fair value of any noncontrolling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. Goodwill is not amortized but is assessed for impairment on an annual basis, or more frequently if circumstances indicate that a possible impairment has occurred.

Policyholder Dividends: Policyholder dividends are recognized when declared rather than over the term of the related policies as would be required under GAAP.

Surplus Notes: Surplus notes are reported as surplus rather than as liabilities as would be required under GAAP.

Statements of Cash Flow: Cash, cash equivalents and short-term investments in the statements of cash flow represent cash balances and investments with initial maturities of one year or less. Under GAAP, the corresponding caption of cash and cash equivalents includes cash balances and investments with initial maturities of three months or less.

Securities Lending Assets and Liabilities: If collateral is restricted and not available for the general use of the Company, an asset and related liability are not recorded on the balance sheet. However, if the collateral is not restricted and is available for general use, the Company is required to record the asset and related liability. Under GAAP, the asset and related liability must be recorded for collateral under the control of the Company, regardless of any restrictions on the collateral.

The effects of the foregoing variances from GAAP on the accompanying statutory-basis financial statements have not been determined by the Company, but are presumed to be material.

Other significant accounting practices are as follows:

Investments

Investments in bonds, except those to which the SVO has ascribed an NAIC designation of 6, are reported at amortized cost using the interest method.

20

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Single class and multi-class mortgage-backed/asset-backed securities are valued at amortized cost using the interest method including anticipated prepayments, except for those with an NAIC designation of 6, which are valued at the lower of amortized cost or fair value. Prepayment assumptions are obtained from dealer surveys or internal estimates and are based on the current interest rate and economic environment. The retrospective adjustment method is used to value all such securities, except principal-only and interest-only securities, which are valued using the prospective method.

Investments in both affiliated and unaffiliated preferred stocks in good standing are reported at cost or amortized cost. Investments in preferred stocks not in good standing are reported at the lower of cost or fair value as determined by the SVO, and the related net unrealized capital gains (losses) are reported in unassigned surplus along with any adjustment for federal income taxes. Non-redeemable preferred stocks are reported at fair value or lower of cost or fair value as determined by the SVO, and the related net unrealized gains (losses) are reported in unassigned surplus with any adjustment for federal income taxes.

Hybrid securities, as defined by the NAIC, are securities designed with characteristics of both debt and equity and provide protection to the issuer’s senior note holders. During 2009, the classification of these securities was changed by the NAIC so that they are now to be reported as bonds. Previously, hybrid securities were not classified as debt by the SVO and were reported as preferred stock. As a result, effective January 1, 2009, hybrid securities with a carrying value of $1,687,604 were reclassified from preferred stock to bonds. The 2008 hybrid security balances remain reported as preferred stock and have not been reclassified in the 2008 balance sheet. These securities continue to meet the definition of a bond, in accordance with SSAP No. 26, Bonds, excluding Loan-backed and Structured Securities and therefore, are reported at amortized cost based upon their NAIC rating.

Common stocks of unaffiliated companies, which includes shares of mutual funds, are reported at fair value as determined by the SVO, and the related net unrealized capital gains or losses are reported in unassigned surplus along with any adjustment for federal income taxes.

Common stocks of affiliated insurance subsidiaries are reported based on underlying statutory equity plus the admitted portion of goodwill. Common stocks of affiliated noninsurance subsidiaries are reported based on underlying audited GAAP equity and the net change in the subsidiaries’ equity is included in the change in net unrealized capital gains or losses, reported in unassigned surplus along with any adjustment for federal income taxes.

21

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

The Company is restricted to trading Primus Guaranty, Ltd (Primus) and ACA Capital Holdings, Inc. (ACA), both common stock holdings, due to its ownership interest, which would require special securities filings prior to executing any purchase or sale transactions in regard to these securities. The carrying amount in Primus, which is carried at fair value, as of December 31, 2009 and 2008 was $17,027 and $6,364, respectively. The carrying amount in ACA, which is carried at fair value, as of December 31, 2009 and 2008 was $0 and $27, respectively.

Short-term investments include investments with remaining maturities of one year or less at the time of acquisition and are principally stated at amortized cost.

Cash equivalents are short-term highly liquid investments with original maturities of three months or less and are principally stated at amortized cost.

Mortgage loans are reported at unpaid principal balances, less an allowance for impairment. A mortgage loan is considered to be impaired when it is probable that the Company will be unable to collect all principal and interest amounts due according to the contractual terms of the mortgage agreement. When management determines that the impairment is other-than-temporary, the mortgage loan is written down to realizable value and a realized loss is recognized.

Land is reported at cost. Real estate occupied by the Company is reported at depreciated cost net of encumbrances. Real estate held for the production of income is reported at depreciated cost net of related obligations. Real estate that the Company has the intent to sell is reported at the lower of depreciated cost or fair value, net of related obligations. Depreciation is computed principally by the straight-line method over the estimated useful lives of the properties.

Policy loans are reported at unpaid principal balances.

The Company has minority ownership interests in joint ventures and limited partnerships. The Company carries these investments based on its interest in the underlying audited GAAP equity of the investee. The Company recognized impairment write-downs for its investments in joint ventures and limited partnerships of $79,425, $42,829 and $4,556 for the years ended December 31, 2009, 2008 and 2007, respectively. These write-downs are included in net realized capital gains (losses) within the statements of operations.

Investments in Low Income Housing Tax Credit (LIHTC) properties are valued at amortized cost. Tax credits are recognized in operations in the tax reporting year in which the tax credit is utilized by the Company.

Other “admitted assets” are valued principally at cost, as required or permitted by Iowa Insurance Laws.

22

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Realized capital gains and losses are determined using the specific identification method and are recorded net of related federal income taxes. Changes in admitted asset carrying amounts of bonds, mortgage loans, common and preferred stocks are credited or charged directly to unassigned surplus.

Interest income is recognized on an accrual basis. The Company does not accrue income on bonds in default, mortgage loans on real estate in default and/or foreclosure or which are delinquent more than twelve months, or on real estate where rent is in arrears for more than three months. Further, income is not accrued when collection is uncertain. At December 31, 2009 and 2008, the Company excluded investment income due and accrued of $2,924 and $182, respectively, with respect to such practices.

The carrying values of all investments are reviewed on an ongoing basis for credit deterioration or changes in estimated cash flows. If this review indicates a decline in fair value that is other-than-temporary, the carrying value of the investment is reduced to its fair value, and a specific writedown is taken for all investments other than loan-backed or structured securities, which are reduced to the present value of expected cash flows where the Company has the ability and intent to hold the security until recovery. Such reductions in carrying value are recognized as realized losses on investments.

For dollar reverse repurchase agreements, the Company receives cash collateral in an amount at least equal to the fair value of the securities transferred by the Company in the transaction as of the transaction date. Cash received as collateral will be invested as needed or used for general corporate purposes of the Company.

Derivative Instruments

Interest rate swaps are the primary derivative financial instruments used in the overall asset/liability management process to modify the interest rate characteristics of the underlying asset or liability. These interest rate swaps generally provide for the exchange of the difference between fixed and floating rate amounts based on an underlying notional amount. Typically, no cash is exchanged at the outset of the swap contract and a single net payment is exchanged each due date. Swaps that meet hedge accounting rules are carried in a manner consistent with the hedged item, generally amortized cost, in the financial statements. If the swap is terminated prior to maturity, proceeds are exchanged equal to the fair value of the contract. These gains and losses may be included in IMR or AVR if the hedged instrument receives that treatment. Swaps not meeting hedge accounting rules are carried at fair value with fair value adjustments recorded in unassigned surplus.

23

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

The Company may hold foreign denominated assets or liabilities and cross currency swaps are utilized to convert the asset or liability to a US denominated security. Cross currency swap agreements are contracts to exchange two principal amounts of two currencies at the prevailing exchange rate at inception of the contract. During the life of the swap, the counterparties exchange fixed or floating rate interest payments in the swapped currencies. At maturity, the principal amounts are again swapped at a pre-determined rate of exchange. Each asset or liability is hedged individually and the terms of the swap must meet the terms of the hedged instrument. For cross currency swaps qualifying for hedge accounting, the premium or discount is amortized into income over the life of the contract and the foreign currency translation adjustment is recorded as unrealized gain/loss in unassigned surplus. Swaps not meeting hedge accounting rules are carried at fair value with fair value adjustments recorded in unassigned surplus. If a swap is terminated prior to maturity, proceeds are exchanged equal to the fair value of the contract. These gains and losses may be included in IMR or AVR if the hedged instrument receives that treatment.

The Company may issue foreign denominated assets or liabilities and use forward rate agreements to hedge foreign currency risk associated with these products. These forward agreements are marked to fair value based on the current forward rate on the financial statements, and cash payments and/or receipts are recognized as realized gain or losses.

The Company issues products providing the customer a return based on the S&P 500 and NASDAQ 1000 indices. The Company uses S&P 500 and NASDAQ 1000 futures and/or options to hedge the liability option risk associated with these products. Futures are marked to fair value on a daily basis and a cash payment is made or received by the Company. These payments are recognized as realized gains or losses in the financial statements. Options are marked to fair value in the balance sheet and fair value adjustments are recorded in unassigned surplus.

Capped floating rate commercial mortgage loans and interest rate caps that are designated as hedges and meet hedge accounting rules are carried at amortized cost in the financial statements. A gain or loss upon early termination would be reflected in the IMR similar to the underlying instrument.

For forecasted hedge transactions, the deferred gain (loss) is recognized in income as the hedged asset affects income. If the derivative is no longer effective at achieving the desired risk management objective or if the forecasted transaction is no longer probable, hedge accounting will cease and the forward-starting swap will be marked to fair value through unassigned surplus.

24

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

The Company may sell products with expected benefit payments extending beyond investment assets currently available in the market. Because assets will have to be purchased in the future to fund future liability cash flows, the Company is exposed to the risk of future investments made at lower yields than what is assumed at the time of pricing. Forward-starting interest rate swaps are utilized to lock-in the current forward rate. The accrual of income for forward-starting interest rate swaps begins at the forward date, rather than at the inception date. These forward-starting swaps meet hedge accounting rules and are carried at cost in the financial statements. Gains and losses realized upon termination of the forward-starting swap are deferred and used to adjust the basis of the asset purchased in the hedged forecasted period. The basis adjustment is then amortized into income as a yield adjustment to the asset over its life.

A replication transaction is a derivative transaction, generally a credit default swap, entered into in conjunction with a cash instrument that is used to reproduce the investment characteristics of an otherwise permissible investment. For replication transactions, generally a premium is received by the Company on a periodic basis and recognized in investment income as earned. In the event the representative issuer defaults on its debt obligation referenced in the contract, a payment equal to the notional of the contract will be made by the Company and recognized as a capital loss. The Company complies with the specific rules established in AVR for replication transactions.

Prior to 2009, the carrying values of derivative instruments were netted and presented in either the derivative asset or the derivative liability line within the balance sheet, depending upon the net balance of the derivatives at the end of the reporting period. Beginning in 2009, the Company is no longer netting the derivative asset and liability balances for reporting purposes. Reclassifications have been made to the 2008 balance sheet to conform to the 2009 presentation. As of December 31, 2009, derivatives in the amount of $105,704 and $357,733 were recognized as an asset and liability, respectively, within the financial statements. As of December 31, 2008, derivatives in the amount of $390,101 and $225,884 were recognized as a derivative asset and liability, respectively, within the financial statements.

Separate Accounts

The majority of the separate accounts held by the Company, primarily for individual policyholders as well as for group pension plans, do not have any minimum guarantees, and the investment risks associated with fair value changes are borne by the policyholder. The assets in the accounts, carried at estimated fair value, consist of underlying mutual fund shares, common stocks, long-term bonds and short-term investments.

25

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Certain other separate accounts held by the Company provide a minimum guaranteed return of 3% of the average investment balance to policyholders. The assets consist of long-term bonds and short-term investments which are carried at amortized cost.

Assets held in trust for purchases of variable universal life and annuity contracts and the Company’s corresponding obligation to the contract owners are shown separately in the balance sheets. The assets in the separate accounts are valued at fair value. Income and gains and losses with respect to the assets in the separate accounts accrue to the benefit of the contract owners and, accordingly, the operations of the separate accounts are not included in the accompanying financial statements. The investment risks associated with fair value changes of the separate accounts are borne entirely by the policyholders except in cases where minimum guarantees exist. The Company received variable contract premiums of $4,279,394, $4,182,626 and $5,690,724 in 2009, 2008 and 2007, respectively. In addition, the Company received $376,545, $399,445 and $439,852 in 2009, 2008 and 2007, respectively, related to fees associated with investment management, administration and contractual guarantees for separate accounts.

Aggregate Reserves for Policies and Contracts

Life, annuity and accident and health benefit reserves are developed by actuarial methods and are determined based on published tables using statutorily specified interest rates and valuation methods that will provide, in the aggregate, reserves that are greater than or equal to the minimum or guaranteed cash value, or the amount required by law.

The Company waives deduction of deferred fractional premiums upon death of the insured and returns any portion of the final premium for periods beyond the month of death.

The aggregate policy reserves for life insurance policies are based principally upon the 1941, 1958, 1980 and 2001 Commissioners’ Standard Ordinary Mortality and American Experience Mortality Tables. The reserves are calculated using interest rates ranging from 2.00 to 6.00 percent and are computed principally on the Net Level Premium Valuation and the Commissioners’ Reserve Valuation Methods. Reserves for universal life policies are based on account balances adjusted for the Commissioners’ Reserve Valuation Method.

Additional premiums are charged or additional mortality charges are assessed for policies issued on substandard lives according to underwriting classification. Generally, mean reserves are determined by computing the regular mean reserve for the plan at the true age and holding, in addition, one-half (1/2) of the extra premium charge for the year. For certain flexible premium and fixed premium universal life insurance products, reserves are calculated utilizing the Commissioner’s Reserve Valuation Method for universal life policies and recognizing any substandard ratings.

26

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Deferred annuity reserves are calculated according to the Commissioners’ Annuity Reserve Valuation Method including excess interest reserves to cover situations where the future interest guarantees plus the decrease in surrender charges are in excess of the maximum valuation rates of interest. Reserves for immediate annuities and supplementary contracts with and without life contingencies are equal to the present value of future payments assuming interest rates ranging from 2.00 to 11.50 percent and mortality rates, where appropriate, from a variety of tables.

Annuity reserves also include guaranteed investment contracts (GICs) and funding agreements classified as life-type contracts as defined in SSAP No. 50, Classifications and Definitions of Insurance or Managed Care Contracts In Force. These liabilities have annuitization options at guaranteed rates and consist of floating interest rate and fixed interest rate contracts. The contract reserves are carried at the greater of the account balance or the value as determined for an annuity with cash settlement options, on a change in fund basis, according to the Commissioners’ Annuity Reserve Valuation Method.

Accident and health policy reserves are equal to the greater of the gross unearned premiums or any required mid-terminal reserves plus net unearned premiums and the present value of amounts not yet due on both reported and unreported claims.

Tabular interest, tabular less actual reserves released and tabular cost have been determined by formula. Tabular interest on funds not involving life contingencies has also been determined primarily by formula.

During 2009, the Company implemented an improved valuation method for single premium group annuity (SPGA) products. The prior method approximated the reserve using a spreadsheet-based balance roll forward. The current method is a seriatim valuation using a software package capable of making these calculations. The change in valuation process resulted in an increase in reserves in the amount of $3,053. The change in reserves has been credited directly to unassigned surplus.

During 2009, the Company reversed a change in reserve methodology implemented in 2008 pertaining to the change in valuation interest rates from those required under California insurance law to those allowed under Iowa insurance law due to the merger of TOLIC into TLIC. The Company changed back to valuation interest rates required under California insurance law during 2009 to meet the minimum aggregate reserve requirement for California and to preserve consistency in valuation rates and methods used for TOLIC’s California issued policies. This change in valuation process resulted in an increase in reserves in the amount of $28,005 which has been credited directly to unassigned surplus.

27

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

During 2008, the Company’s reserves decreased by $35,039 due to various changes in valuation basis. A decrease in reserves of $36,442 resulted from various valuation system upgrades or enhancements, the largest of which was the Prophet conversion. During 2008, the Company updated the valuation process which included conversion to the Prophet valuation system, subject to existing contractual mirror reserving requirements. Previously, reserves were determined by applying client reported data, with a one quarter of a year lag, against current in force volumes. The new method calculates the reserves directly (using Prophet) based on the current in force. The change in valuation process resulted in a decrease in reserves in the amount of $30,022, with a corresponding decrease in deferred premiums of $17,488. The change in reserves has been credited directly to unassigned surplus. A decrease in reserves of $23,967 represents a change in assumptions regarding the policyholder’s election to exercise the Supplementary Retirement Income Option rider attached to certain Universal Life policies. A decrease in reserves of $28,921 represents a change in valuation interest rates from those required under California insurance law to those allowed under Iowa insurance law due to the merger of TOLIC into TLIC. Also during 2008, the Company updated assumptions and made enhancements to valuation methodology related to its accident and health reserves. These changes resulted in a partially offsetting increase in accident and health reserves of $54,291.

Policy and Contract Claim Reserves

Claim reserves represent the estimated accrued liability for claims reported to the Company and claims incurred but not yet reported through the balance sheet date. These reserves are estimated using either individual case-basis valuations or statistical analysis techniques. These estimates are subject to the effects of trends in claim severity and frequency. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes available.

Liability for Deposit-Type Contracts

Deposit-type contracts do not incorporate risk from the death or disability of policyholders. These types of contracts may include GICs, funding agreements and other annuity contracts. Deposits and withdrawals on these contracts are recorded as a direct increase or decrease, respectively, to the liability balance and are not reported as premiums, benefits or changes in reserves in the statement of operations.

The Company issues certain funding agreements with well-defined class-based annuity purchase rates defining either specific or maximum purchase rate guarantees. However, these funding agreements are not issued to or for the benefit of an identifiable individual or group of individuals. These contracts are classified as deposit-type contracts in accordance with SSAP No. 50, Classifications and Definitions of Insurance or Managed Care Contracts Inforce.

28

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Municipal Reverse Repurchase Agreements

Municipal reverse repurchase agreements are investment contracts issued to municipalities that pay either a fixed or floating rate of interest on the guaranteed deposit balance. The floating interest rate is based on a market index. The related liabilities are equal to the policyholder deposit and accumulated interest on the contract.

The Company enters into municipal reverse repurchase agreements for which it requires a minimum of 95% of the fair value of the securities transferred to be maintained as collateral.

Premiums and Annuity Considerations

Revenues for policies with mortality or morbidity risk (including annuities with purchase rate guarantees) consist of the entire premium received and are recognized over the premium paying periods of the related policies. Consideration received and benefits paid for annuity policies without mortality or morbidity risk are recorded using deposit accounting and recorded directly to an appropriate policy reserve account, without recognizing premium revenue.

Claims and Claim Adjustment Expense

Liabilities for losses and loss/claim adjustment expenses for accident and health contracts are estimated using statistical claim development models to develop best estimates of liabilities for medical expense business and using tabular reserves employing mortality/morbidity tables and discount rates meeting minimum regulatory requirements for other business. The balance in the liability for unpaid accident and health claim adjustment expenses as of December 31, 2009 and 2008 was $23,029 and $22,199, respectively.

The Company incurred $11,227 and paid $10,397 of claim adjustment expenses during 2009, of which $6,727 of the paid amount was attributable to insured or covered events of prior years.

Reinsurance

Coinsurance premiums, commissions, expense reimbursements and reserves related to reinsured business are accounted for on bases consistent with those used in accounting for the original policies and the terms of the reinsurance contracts. Gains associated with reinsurance of inforce blocks of business are included in unassigned surplus and are amortized into income over the estimated life of the policies. Premiums ceded and recoverable losses have been reported as a reduction of premium income and benefits, respectively. Policy liabilities and accruals are reported in the accompanying financial statements net of reinsurance ceded.

29

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

Stock Option Plan and Stock Appreciation Rights Plans

Prior to 2002 and in 2005 through 2008, AEGON N.V. sponsored a stock option plan for eligible employees of the Company. Pursuant to the plan, the option price at the date of grant is equal to the fair value of the stock. Under statutory accounting principles, the Company does not record any expense related to this plan. However, the Company is allowed to record a deduction in the consolidated tax return filed by the Company and certain affiliates. The tax benefit of this deduction has been credited directly to unassigned surplus. No stock options were issued during 2009.

The Company’s employees participate in various stock appreciation rights (SAR) plans issued by the Company’s indirect parent. In accordance with SSAP No. 13, Stock Options and Stock Purchase Plans, the expense related to these plans for the Company’s employees has been charged to the Company, with an offsetting amount credited to paid-in surplus. The Company recorded a benefit of $214, $14,618 and $7,567 for the years ended December 31, 2009, 2008 and 2007, respectively. In addition, the Company recorded an adjustment to paid-in surplus for the income tax effect related to these plans over and above the amount reflected in the statement of operations in the amount of $75 and $2,055, for years ended December 31, 2008 and 2007, respectively. The Company did not record an adjustment to surplus for the income tax effect related to these plans at December 31, 2009.

Recent Accounting Pronouncements

Effective December 31, 2009, the Company began computing deferred income taxes in accordance with SSAP No. 10R. This statement establishes statutory accounting principles for current and deferred federal and foreign income taxes and current state income taxes. This statement temporarily replaces SSAP No. 10, Income Taxes. Under SSAP No. 10R, gross deferred tax assets (DTAs) shall be admitted in an amount equal to the amount of federal income taxes paid in prior years that can be recovered through loss carrybacks for existing temporary differences that reverse by the end of the subsequent calendar year and the lesser of the amount of adjusted gross DTAs, expected to be realized within one year of the balance sheet date or 10% of capital and surplus excluding any net deferred income tax assets, electronic data processing equipment and operating system software and any net positive goodwill that can be offset against existing gross deferred income tax liabilities (DTLs) after considering the character. If the Company’s risk-based capital level (RBC) is above 250% where an action level could occur as a result of a trend test, the Company may elect to admit a higher amount of adjusted gross DTAs. When elected, additional DTAs are admitted for taxes paid in prior years that can be recovered through loss carryback provisions for existing temporary differences that reverse within three years of the balance sheet date and the lesser of the remaining gross DTAs expected to be realized within three years of the balance sheet date or 15% of capital and surplus excluding any

30

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

net deferred income tax assets, electronic data processing equipment and operating software and any positive net goodwill plus the amount of remaining gross DTAs that can be offset against gross DTLs after considering the character (i.e., ordinary versus capital) of the DTAs and DTLs. Prior to the adoption of SSAP No. 10R, the Company obtained permission from the state of Iowa to compute deferred income taxes using a permitted practice, which is discussed in detail in Note 2 – Prescribed and Permitted Statutory Accounting Practices. The election of the permitted practice at December 31, 2008 resulted in an increase to surplus of $380,358, which has been reflected as an aggregate write-in for other than special surplus funds. At December 31, 2009, the Company elected to admit additional deferred tax assets pursuant to SSAP No. 10R. The cumulative effect of the election of this statement is the difference between the calculation of the admitted DTA per SSAP No. 10R and the SSAP No. 10 methodology at December 31, 2009 as the use of the permitted practice expired as of December 15, 2009. As a result of this election, surplus increased by a cumulative effect of $295,260 at December 31, 2009, which has been reflected as an aggregate write-in for other than special surplus funds on the 2009 financial statements.

Effective December 31, 2009 the Company adopted amendments to SSAP No. 9, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. The guidance requires the disclosure of the date through which an entity has evaluated subsequent events and whether that date represents the date the financial statements were issued or were available to be issued. The adoption did not impact the Company’s results of operations or financial position. See Note 17 for further discussion of the Company’s consideration of subsequent events.

Effective September 30, 2009, the Company adopted SSAP No. 43R, Loan-backed and Structured Securities. This statement establishes statutory accounting principles for investments in loan-backed and structured securities. The SSAP supersedes SSAP No. 98, Treatment of Cash Flows When Quantifying Changes in Valuation and Impairments and paragraph 13 of SSAP No. 99, Accounting for Certain Securities Subsequent to an Other-Than-Temporary Impairment. SSAP No. 43R changes the accounting for other-than-temporary impairments (OTTI). If the Company intends to sell a security or lacks the intent or ability to hold the security until it recovers to its amortized cost basis, the security shall be written down to its fair value. If the Company does not expect to recover the entire amortized cost basis of a security, an OTTI shall be recognized as a realized loss equal to the difference between the security’s amortized cost basis and the present value of cash flows expected to be collected, discounted at the effective interest rate as outlined in the SSAP. Prior to the adoption of SSAP No. 43R, loan-backed and structured securities were accounted for in accordance with SSAP No. 43, which called for those securities to be impaired and written down using undiscounted cash flows. The cumulative effect of the adoption of this standard is the difference between the present value of expected cash flows for securities identified as having an OTTI compared with their amortized cost basis

31

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

1. Organization and Summary of Significant Accounting Policies (continued)

as of July 1, 2009. This change in accounting principle reduced surplus by a net amount of $14,934 ($9,707 net of tax), which includes impairments of $40,973 offset by NAIC 6 rated securities that were already reported at lower of cost or market at the time of the implementation of SSAP No. 43R of $26,039, which have been removed from the component of change in net unrealized gains/losses.

In September 2008, the NAIC issued SSAP No. 99, Accounting for Certain Securities Subsequent to an Other-Than-Temporary Impairment. This statement establishes the statutory accounting principles for the treatment of premium or discount applicable to certain securities subsequent to the recognition of an OTTI. Prior to SSAP No. 99, the Company’s investments in OTTI were reported in accordance with SSAP No. 26, Bonds, excluding Loan-backed and Structured Securities, SSAP No. 32, Investments in Preferred Stock and SSAP No. 43, Loan-backed and Structured Securities. The Company adopted SSAP No. 99 on January 1, 2009. The adoption of this statement was accounted for prospectively and therefore there was no impact to the Company’s financials at adoption.

Reclassifications

Certain reclassifications have been made to the 2008 and 2007 financial statements to conform to the 2009 presentation.

2. Prescribed and Permitted Statutory Accounting Practices

The Insurance Division, Department of Commerce, of the State of Iowa recognizes only statutory accounting practices prescribed or permitted by the State of Iowa for determining and reporting the financial condition and results of operations of an insurance company, and for determining its solvency under the Iowa Insurance Law.

The NAIC’s Accounting Practices and Procedures Manual (NAIC SAP) has been adopted as a component of prescribed or permitted practices by the State of Iowa. The State of Iowa has adopted a prescribed accounting practice that differs from that found in the NAIC SAP related to reserve credits with respect to secondary guarantee reinsurance treaties. As prescribed by Iowa Administrative Code 191-17.3(2), the Commissioner found that the Company is entitled to take reserve credit for such a reinsurance contract in the amount equal to the portion of total reserves attributable to the secondary guarantee, whereas this type of reinsurance does not meet the specific requirements of SSAP No. 61, Life, Deposit-Type and Accident and Health Reinsurance and Appendix A-791 of the NAIC SAP.

32

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

2. Prescribed and Permitted Statutory Accounting Practices (continued)

The Company, with explicit permission from the State of Iowa Deputy Commissioner of Insurance, records the value of its wholly owned foreign life subsidiary, Transamerica Life (Bermuda), Ltd. (TLB), based upon audited statutory equity rather than audited U.S. GAAP equity adjusted to a statutory basis of accounting, utilizing adjustments as outlined in SSAP No. 97 – Investments in Subsidiary, Controlled and Affiliated Entities, a replacement of SSAP No. 88, paragraph 9.

At December 31, 2008, the Company received written approval from the Iowa Insurance Division to determine the admitted amount of deferred income tax assets pursuant to Iowa Bulletin 09-01. Bulletin 09-01 increased the realization period for purposes of determining the admissibility of deferred tax assets in accordance with the requirements of SSAP No. 10 – Income Taxes, Paragraph 10(b)(i) from one year to three years from the balance sheet date and expanded the limit on net deferred tax assets for Paragraph 10(b)(ii) from 10% of adjusted capital and surplus to 15%. The Company did not utilize this permitted practice during 2009 and instead opted to calculate deferred income taxes using the provisions of SSAP No. 10R.

A reconciliation of the Company’s net income and capital and surplus between NAIC SAP and practices prescribed and permitted by the State of Iowa is shown below:

	2009			2008			2007
				Restated			Restated
Net income (loss), State of Iowa basis	$	(6,425	)	$	(621,418	)	$	292,132
State prescribed practice for secondary guarantee reinsurance		—			—			—
State permitted practice for valuation of foreign life subsidiary		—			—			—
Net income (loss), NAIC SAP	$	(6,425	)	$	(621,418	)	$	292,132
Statutory surplus, State of Iowa basis	$	5,026,825		$	4,840,134		$	4,345,101
State prescribed practice for secondary guarantee reinsurance		(2,593,154	)		(2,349,638	)		(2,099,290	)
State permitted practice for valuation of wholly-owned foreign life subsidiary		(20,745	)		(124,668	)		(16,158	)
State permitted practice for deferred tax asset		—			(380,358	)		—
Statutory surplus, NAIC SAP	$	2,412,926		$	1,985,470		$	2,229,653

33

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

3. Accounting Changes and Correction of Errors

During 2009, the Company corrected the financial statement presentation of the preferred treasury stock. On December 19, 2007, the Company repurchased 57,340 shares of its Series B preferred shares for $573,400. The par value of the Series B preferred shares is $10 per share and the liquidation value is also $10 per share. At December 31, 2007, the financial statement of the Company appropriately presented the $573,400 as preferred treasury stock. Due to the merger of LIICA and TOLIC into the Company on October 2, and October 1, 2008, respectively, Transamerica Corporation was issued 86,590 shares of Series B preferred stock. Rather than reflecting the Series B preferred stock issued as first a reduction of treasury stock, with the remaining shares issued to TA Corp presented as additional shares issued and outstanding, the Company incorrectly presented the entire amount of the 86,590 shares issued to TA Corp as newly issued and outstanding shares. During 2009, the Company corrected the presentation of the Series B preferred shares, which resulted in a reduction of $573,400 to treasury stock and a reduction in the preferred capital stock line of $573, with an offset to gross paid-in capital. There was no net surplus impact to the Company due to this correction.

The Company entered into an agreement with an affiliated entity in which certain mortgage loans and real estate were sold with an effective date of December 31, 2008. The sales of these mortgage loans and real estate were not reflected in the December 31, 2008 financial statements. As a result, the Company has reflected such sales in the current quarterly statement and has identified the surplus impact of such corrections as a separate change in capital and surplus within the statement of operations for 2009. Had these sales been appropriately recognized within the December 31, 2008 financials, the AVR balance would have been $6,275 lower and the sales would have increased the Company’s net loss by $7,173, for a net negative surplus impact of $898.

During 2008, the Company obtained approval from the Insurance Division, Department of Commerce, of the State of Iowa to calculate the reserves related to synthetic guaranteed investment contracts (synthetic GICs) utilizing a discount rate corresponding to the corporate bond AA credit curve, versus 105% of the Treasury spot-rate curve, which was utilized in previous years. The difference in the reserves held under the reserve methodology utilized at December 31, 2008 versus previous years’ methodology is a decrease in reserves of approximately $89,002. This approval is still effective, however, as of December 31, 2009, the Company resumed the higher reserve standard of utilizing the discount rate of 105% of the Treasury spot-rate curve to calculate its reserves related to its outstanding synthetic GIC contracts. Only one contract had a non-zero reserve. This was calculated as $10,527, but was limited to the maximum liability as outlined in the contract of $3,000.

34

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

3. Accounting Changes and Correction of Errors (continued)

Effective January 1, 2008, the Company modified the way it records interest on income taxes. Prior to January 1, 2008, interest on income taxes was included as a net amount (after federal tax benefit) within federal and foreign income taxes recoverable. Effective January 1, 2008, the gross amount of interest was included in taxes, licenses, and fees due and accrued, which is part of other liabilities, and the related deferred tax asset was included in net deferred income tax asset. The Company reported an increase in unassigned surplus of $969 related to the change in deferred income tax asset, with an offsetting decrease to unassigned surplus as a correction of interest on taxes on January 1, 2008, resulting in no impact to unassigned surplus.

4. Fair Values of Financial Instruments

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Cash, Cash Equivalents and Short-term Investments: The carrying amounts reported in the accompanying balance sheets for these financial instruments approximate their fair values.

Bonds and Preferred Stocks: Prior to 2008, fair values for bonds and preferred stocks were based on the price published by the SVO, if available. In 2008, the NAIC adopted regulation allowing insurance companies to report the fair value determined by the SVO or to determine the fair value by using a permitted valuation method. Therefore, effective December 31, 2008, fair value for statutory purposes was reported or determined using the following pricing sources: indexes, third party pricing services, brokers, external fund managers and internal models.

For fixed maturity securities (including redeemable preferred stock) not actively traded, fair values are estimated using values obtained from independent pricing services, or, in the case of private placements, are estimated by discounting the expected future cash flows using current market rates applicable to the coupon rate, credit and maturity of the investments.

Mortgage Loans on Real Estate: The fair values for mortgage loans on real estate are estimated utilizing discounted cash flow analyses, using interest rates reflective of current market conditions and the risk characteristics of the loans.

Other Invested Assets: The financial instruments included in this category are primarily investments in surplus notes issued by other insurance companies and fixed or variable rate investments with underlying characteristics of bonds. The fair values for these investments were determined predominantly by using indexes, third party pricing services, and internal models.

Policy Loans: The fair value of policy loans is assumed to equal their carrying amount.

35

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

Short-Term Notes Receivable from Affiliates: The carrying amounts reported in the statutory-basis balance sheets for these instruments approximate their fair value.

Deposit-Type Contracts: The carrying amounts of deposit-type contracts approximate their fair values.

Derivative Financial Instruments: The estimated fair values of interest rate caps and options are based upon the latest quoted market price at the balance sheet date. The estimated fair values of swaps, including interest rate and currency swaps, are based on pricing models or formulas using current assumptions. The carrying amounts of these items are included as a gross asset and a gross liability on the balance sheet.

Credit Default Swaps: The estimated fair value of credit default swaps are based upon the pricing differential as of the balance sheet date for similar swap agreements.

Investment Contract Liabilities: Fair values for the Company’s liabilities under investment-type contracts, which include GICs and funding agreements, are estimated using discounted cash flow calculations, based on interest rates currently being offered for similar contracts with maturities consistent with those remaining for the contracts being valued. For investment contracts with no defined maturity, fair value is estimated to be the present surrender value.

Receivable From/Payable to Parents, Subsidiaries and Affiliates: The carrying value of receivable from/payable to affiliates approximates their fair value.

Surplus Notes: Fair values for surplus notes are estimated using discounted cash flow analysis based on the Company’s current incremental borrowing rate for similar types of borrowing arrangements.

Separate Account Assets and Annuity Liabilities: The fair value of separate account assets are based on quoted market prices. The fair value of separate account annuity liabilities approximate the fair value of the separate account assets less a provision for the present value of future profits related to the underlying contracts.

Fair values for the Company’s insurance contracts other than investment-type contracts (including separate account universal life liabilities) are not required to be disclosed. However, the fair values of liabilities under all insurance contracts are taken into consideration in the Company’s overall management of interest rate risk, such that the Company’s exposure to changing interest rates is minimized through the matching of investment maturities with amounts due under insurance contracts.

36

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

The following sets forth a comparison of the fair values and carrying amounts of the Company’s financial instruments:

	December 31
	2009				2008
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Admitted assets
Cash, cash equivalents and short-term investments, other than affiliates	$	3,032,109	$	3,032,109	$	1,428,685	$	1,428,685
Short-term notes receivable from affiliates		880,200		880,200		1,929,883		1,929,883
Bonds, other than affiliates		47,035,463		45,386,770		51,192,348		43,540,388
Preferred stocks, other than affiliates		152,661		144,696		1,817,213		1,044,049
Common stocks, other than affiliates		389,485		389,485		340,736		340,736
Mortgage loans on real estate, other than affiliates		9,275,690		8,935,978		10,795,426		10,101,872
Other invested assets		175,168		164,109		136,213		114,971
Floors, options and swaptions		3,661		3,111		3,659		3,659
FDAs		299		126		—		—
Interest rate caps		37		—		7		7
Interest rate swaps		92,254		541,568		67,884		416,874
Currency swaps		8,130		109,956		316,111		2,239,401
Credit default swaps		369		2,141		1,837		1,812
Foreign currency forward		954		954		603		603
Policy loans		759,957		759,957		732,588		732,588
Receivable from parent, subsidiaries and affiliates		187,751		187,751		217,479		217,479
Separate account assets		33,205,532		33,205,532		27,404,629		27,404,629
Liabilities
Investment contract liabilities		23,563,017		23,599,026		33,602,549		33,333,068
Floors, options and swaptions		550		—		—		—
FDAs		5,237		5,064		11,907		11,907
Interest rate caps		37		—		—		—
Interest rate swaps		158,871		528,815		29,690		378,376
Currency swaps		187,912		219,697		182,512		971,079
Credit default swaps		5,047		5,179		257		21,415
Foreign currency forward		79		79		1,518		1,518
Payable to parent, subsidiaries and affiliates		270,421		270,421		244,864		244,864
Separate account annuity liabilities		24,918,494		24,912,008		18,325,613		18,508,526
Surplus notes		150,000		144,191		150,000		125,099

37

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

Included in the Company’s financial statements are certain investment-related financial instruments that are carried at fair value on a recurring basis. The Company also holds other financial instruments that are measured at fair value on a non-recurring basis; including impaired financial instruments, such as bonds and preferred stock that are carried at the lower of cost or market. Under Statutory Accounting practice, the Company calculates the fair value of affiliated common stock based on the equity method of accounting; as such, it is not included in the following fair value measurement disclosure.

The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair values are based on quoted market prices when available. When market prices are not available, fair value is generally estimated using discounted cash flow analyses, incorporating current market inputs for similar financial instruments with comparable terms and credit quality (matrix pricing). In instances where there is little or no market activity for the same or similar instruments, the Company estimates fair value using methods, models and assumptions that management believes market participants would use to determine a current transaction price. These valuation techniques involve some level of management estimation and judgment which becomes significant with increasingly complex instruments or pricing models. Where appropriate, adjustments are included to reflect the risk inherent in a particular methodology, model or input employed.

The Company’s financial assets and liabilities carried at fair value are classified, for disclosure purposes, based on a hierarchy defined by Accounting Standards Codification 820, Fair Value Measurements and Disclosures (formerly Statement of Financial Accounting Standards (SFAS) No. 157, Fair Value Measurements). The hierarchy gives the highest ranking to fair values determined using unadjusted quoted prices in active markets for identical assets and liabilities (Level 1), and the lowest ranking to fair values determined using methodologies and models with unobservable inputs (Level 3). An asset’s or a liability’s classification is based on the lowest level input that is significant to its measurement. For example, a Level 3 fair value measurement may include inputs that are both observable (Levels 1 and 2) and unobservable (Level 3). The levels of the fair value hierarchy are as follows:

Level 1 - Unadjusted quoted prices for identical assets or liabilities in active markets accessible at the measurement date.

38

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

Level 2 -	Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:
	a)      Quoted prices for similar assets or liabilities in active markets
	b)      Quoted prices for identical or similar assets or liabilities in non-active markets
	c)      Inputs other than quoted market prices that are observable
	d)      Inputs that are derived principally from or corroborated by observable market data through correlation or other means
Level 3 -	Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect the Company’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

Financial assets and liabilities measured at fair value on a recurring basis

The following tables provide information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2009 and 2008.

	2009
	Level 1		Level 2		Level 3		Total
Assets:
Equity securities	$	103,871	$	7,503	$	278,111	$	389,485
Other invested assets		—		—		32,660		32,660
Short-term investments (a)		—		3,064,145		—		3,064,145
Derivative assets		—		13,462		—		13,462
Separate Account assets (b)		22,215,160		9,316,660		932,693		32,464,513
Total assets	$	22,319,031	$	12,401,770	$	1,243,464	$	35,964,265
Liabilities:
Derivative liabilities	$	—	$	64,812	$	—	$	64,812
Total liabilities	$	—	$	64,812	$	—	$	64,812

39

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

	2008
	Level 1		Level 2		Level 3		Total
Assets:
Equity securities	$	—	$	45,185	$	295,552	$	340,737
Short-term investments(a)		—		1,112,791		42,444		1,155,235
Derivative assets		—		219,750		—		219,750
Separate Account assets (b)		27,404,629		—		—		27,404,629
Total assets	$	27,404,629	$	1,377,726	$	337,996	$	29,120,351
Liabilities:
Derivative liabilities	$	—	$	43,122	$	—	$	43,122
Total liabilities	$	—	$	43,122	$	—	$	43,122

^(a) Short-term investments are carried at amortized cost; which approximates fair value.

^(b) Separate Accounts assets are carried at the net asset value provided by the fund managers.

Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize the changes in assets and liabilities classified in Level 3 for 2009 and 2008.

	Equity Securities			Short-term Investments			Other Invested Assets			Separate Account Assets			Total
Balance at January 1, 2009	$	295,552		$	42,444		$	—		$	—		$	337,996
Change in realized gains/losses included in net income		(6,155	)		—			—			(80,693	)		(86,848	)
Change in unrealized gains/losses included in surplus		5,177			284			(27	)		—			5,434
Net purchases (sales)		(28,878	)		(42,728	)		32,687			(232,577	)		(271,496	)
Net transfers in to Level 3		12,415			—			—			1,245,963			1,258,378
Balance at December 31, 2009	$	278,111		$	—		$	32,660		$	932,693		$	1,243,464
Total gains/losses included in income attributable to instruments held at the reporting date	$	(2,156	)	$	—		$	—		$	—		$	(2,156	)

40

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

	Equity Securities			Short-term Investments			Total
Balance at January 1, 2008	$	226,281		$	46,778		$	273,059
Change in realized gains/losses included in net income		(500	)		—			(500	)
Change in unrealized gains/losses included in surplus		(6,782	)		(284	)		(7,066	)
Net purchases (sales)		76,553			(4,050	)		72,503
Balance at December 31, 2008	$	295,552		$	42,444		$	337,996
Total gains/losses included in income attributable to instruments held at the reporting date	$	(500	)	$	—		$	(500	)

Assets measured at fair value on a non-recurring basis

During 2009 and 2008, the Company reported the following financial instruments at fair value on a non-recurring basis.

Description	December 31, 2009		Level 1		Level 2		Level 3		Total Gains (Losses)
Fixed maturities	$	290,192	$	—	$	120,238	$	169,954	$	(104,050	)
Derivative liabilities		26,899		—		26,899		—		—
Description	December 31, 2008		Level 1		Level 2		Level 3		Total Gains (Losses)
Fixed maturities	$	180,844	$	—	$	137,270	$	43,574	$	(207,538	)
Derivative liabilities		6,563		—		6,462		101		—

Level 3 - Financial Assets

In certain circumstances, the Company will obtain non-binding quotes from brokers to assist in the determination of fair value. If those quotes can be corroborated by other market observable data, the investment will be classified as Level 2. If not, the investment is classified as Level 3 due to the lack of transparency into the broker’s valuation process.

41

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

4. Fair Values of Financial Instruments (continued)

Bonds, which have a designation of NAIC 6, are considered to be at or near default and are carried at the lower of cost or fair value. Furthermore, beginning December 31, 2009, a new process was implemented by the NAIC to determine the designation for certain non-agency residential mortgage-backed securities (RMBS). Under this process, the designation for these securities is based on two steps. Those securities whose designation is an NAIC 6 in the first step are also carried at the lower of cost or fair value.

5. Investments

Investments in common stocks of affiliated entities were as follows:

	December 31
	2009				2008
Affiliate	Cost		Carrying Amount		Cost		Carrying Amount
Wholly-owned subsidiaries:
LIICA Re II, Inc.	$	80,000	$	—	$	80,000	$	—
Life Investors Alliance LLC		13,250		—		13,250		—
Garnet Assurance Corp.		1		—		1		—
AEGON Financial Services Group		20,603		—		20,603		—
Gemini Investments, Inc.		—		—		63,623		87,699
NEF Investment Company		1,278		—		1,278		—
USA Administration Services		16,661		—		16,161		164
Transamerica Life (Bermuda), Ltd.		349,767		541,988		349,767		493,589
Transamerica Pacific Insurance Company, Ltd.		—		—		9,300		8,211
Asia Investments Holdings, Ltd.		2,114		—		2,114		—
		483,674		541,988		556,097		589,663
Minority-owned subsidiaries:
Transamerica Financial Life Insurance Company (12.6% of issued and outstanding shares)		172,938		88,815		172,938		75,564
Real Estate Alternatives Portfolio 3A Inc. (52.6% of issued and outstanding shares)		24,685		26,215		18,454		19,427
	$	681,297	$	657,018	$	747,489	$	684,654

42

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

During 2009, Gemini Investments, Inc. was dissolved into the Company. Prior to the dissolution, Gemini was wholly-owned by the Company as a common stock investment valued utilizing GAAP equity. There was no net surplus impact to the Company due to this dissolution.

Additionally, the Company holds preferred stock of USA Administration Services with a carrying value of $470 and $1,739 at December 31, 2009 and 2008, respectively. During 2009, the Company made a capital contribution of $500 to USA Administration Services, which increased the Company’s cost basis of the preferred stock.

On June 25, 2009, the Company paid a dividend to TIHI, consisting of 1,000 of the Transamerica Pacific Insurance Company, Ltd.’s (TPIC) common shares, which is 100% of the issued and outstanding stock of TPIC. As a result of this dividend, the Company no longer owns TPIC common stock at December 31, 2009.

The Company owns 12.6% of the preferred shares of Transamerica Financial Life Insurance Company with a carrying value of $7,162 at December 31, 2009 and 2008, respectively. The cost of the preferred shares is $7,162.

The Company purchased 51.11% of the outstanding preferred shares of Malibu Loan Fund, Ltd. during 2006. At December 31, 2009 and 2008, these shares have no carrying value. The cost of the preferred shares is $2,453 at December 31, 2009 and 2008, respectively.

The Company owns 100% of the membership interests for two affiliated limited liability companies, Transamerica Pyramid Properties, LLC and Transamerica Realty Investment Properties, LLC. At December 31, 2009 and 2008, the Company’s carrying value for these two affiliated entities was $169,157 and $175,242, respectively. The investment in these two entities is included in other invested assets in the accompanying balance sheets. Summarized combined balance sheet information for these two companies is as follows:

	December 31
	2009		2008
Real estate	$	180,187	$	186,227
Other assets		15,995		22,169
Total assets	$	196,182	$	208,396
	December 31
	2009		2008
Total liabilities	$	27,025	$	33,154
Total member’s interest		169,157		175,242
Total liabilities and member’s interest	$	196,182	$	208,396

43

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The carrying amount and estimated fair value of investments in bonds and preferred stock were as follows:

	Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses 12 Months or More		Gross Unrealized Losses less Than 12 Months		Estimated Fair Value
December 31, 2009
Unaffiliated bonds:
United States Government and agencies	$	2,213,602	$	46,272	$	10,359	$	57,837	$	2,191,678
State, municipal and other government		864,106		58,075		36,447		6,506		879,228
Hybrid securities		1,777,764		15,566		322,069		421		1,470,840
Industrial and miscellaneous		27,005,598		1,585,453		377,181		61,228		28,152,642
Mortgage and other asset-backed securities		15,174,393		165,590		2,537,314		110,287		12,692,382
		47,035,463		1,870,956		3,283,370		236,279		45,386,770
Unaffiliated preferred stocks		152,661		13,428		13,976		7,417		144,696
	$	47,188,124	$	1,884,384	$	3,297,346	$	243,696	$	45,531,466
	Carrying Amount		Gross Unrealized Gains		Gross Unrealized Losses 12 Months or More		Gross Unrealized Losses less Than 12 Months		Estimated Fair Value
December 31, 2008
Unaffiliated bonds:
United States Government and agencies	$	2,392,692	$	242,056	$	25,685	$	3,385	$	2,605,678
State, municipal and other government		1,439,155		41,470		40,490		68,353		1,371,782
Industrial and miscellaneous		31,227,972		569,372		1,815,025		1,530,446		28,451,873
Mortgage and other asset-backed securities		16,132,529		58,887		3,681,337		1,399,024		11,111,055
		51,192,348		911,785		5,562,537		3,001,208		43,540,388
Unaffiliated preferred stocks		1,817,213		2,874		511,919		264,119		1,044,049
	$	53,009,561	$	914,659	$	6,074,456	$	3,265,327	$	44,584,437

The Company held bonds and preferred stock at December 31, 2009 and 2008 with a carrying value of $218,816 and $91,413, respectively, and amortized cost of $284,341 and $200,784, respectively, that have an NAIC rating of 6 and which are not considered to be other-than-temporarily impaired. These securities are carried at the lower of amortized cost or fair value, and any write-down to fair value has been recorded directly to unassigned surplus.

44

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

At December 31, 2009 and 2008, respectively, for securities that have been in a continuous loss position greater than or equal to twelve months, the Company held 1,417 and 2,063 securities with a carrying value of $15,724,863 and $20,369,486 and an unrealized loss of $3,297,347 and $6,074,456 with an average price of 79.0 and 70.2 (fair value/amortized cost). Of this portfolio, 73.4% and 87.1% were investment grade with associated unrealized losses of $1,964,692 and $5,052,946, respectively.

At December 31, 2009 and 2008, respectively, for securities in an unrealized loss position for less than twelve months, the Company held 527 and 2,148 securities with a carrying value of $5,312,143 and $21,046,015 and an unrealized loss of $243,695 and $3,265,326 with an average price of 95.4 and 84.5 (fair value/amortized cost). Of this portfolio, 96.3% and 91.2% were investment grade with associated unrealized losses of $209,917 and $2,755,393, respectively.

The estimated fair value of bonds and preferred stocks with gross unrealized losses at December 31, 2009 and 2008 is as follows:

	Losses 12 Months or More		Losses Less Than 12 Months		Total
December 31, 2009
Unaffiliated bonds:
United States Government and agencies	$	361,036	$	952,444	$	1,313,480
State, municipal and other government		170,904		121,643		292,547
Hybrid securities		1,297,347		15,671		1,313,018
Industrial and miscellaneous		3,594,291		2,417,578		6,011,869
Mortgage and other asset-backed securities		6,956,857		1,539,597		8,496,454
		12,380,435		5,046,933		17,427,368
Unaffiliated preferred stocks		47,082		21,515		68,597
	$	12,427,517	$	5,068,448	$	17,495,965
	Losses 12 Months or More		Losses Less Than 12 Months		Total
December 31, 2008
Unaffiliated bonds:
United States Government and agencies	$	472,534	$	457,732	$	930,266
State, municipal and other government		165,344		609,765		775,109
Industrial and miscellaneous		7,880,573		12,041,206		19,921,779
Mortgage and other asset-backed securities		5,190,868		4,271,338		9,462,206
		13,709,319		17,380,041		31,089,360
Unaffiliated preferred stocks		585,711		400,648		986,359
	$	14,295,030	$	17,780,689	$	32,075,719

45

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The carrying amounts and estimated fair values of bonds at December 31, 2009, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

	Carrying Value		Estimated Fair Value
Due in one year or less	$	745,468	$	760,606
Due after one year through five years		10,801,834		11,253,542
Due after five years through ten years		8,664,883		8,984,345
Due after ten years		11,648,885		11,695,895
		31,861,070		32,694,388
Mortgage and other asset-backed securities		15,174,393		12,692,382
	$	47,035,463	$	45,386,770

The Company closely monitors below investment grade holdings and those investment grade issuers where the Company has concerns. The Company also regularly monitors industry sectors. Non-structured securities in unrealized loss positions that are considered other-than-temporary are written down to fair value. Structured securities considered other-than-temporarily impaired are written down to discounted estimated cash flows if the impairment is the result of cash flow analysis. If the Company has an intent to sell or lack of ability to hold a structured security, it is written down to fair value. The Company considers relevant facts and circumstances in evaluating whether the impairment is other-than-temporary including: (1) the probability of the Company collecting all amounts due according to the contractual terms of the security in affect at the date of acquisition; (2) the Company’s decision to sell a security prior to its maturity at an amount below its carrying amount; and (3) the Company’s ability to hold a structured security for a period of time to allow for recovery of the value to its carrying amount. Additionally, financial condition, near term prospects of the issuer and nationally recognized credit rating changes are monitored. For asset-backed securities, cash flow trends and underlying levels of collateral are monitored. The Company will record a charge to the statement of operations to the extent that these securities are subsequently determined to be other-than-temporarily impaired.

46

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

At December 31, 2009, the Company’s banking sector had investments in an unrealized loss position which had a fair value of $2,120,033 and a carrying value of $2,559,561, resulting in a gross unrealized loss of $439,528. The unrealized losses in the banking sub-sector primarily reflect the size of the Company’s holdings, low floating rate coupons on some securities, and credit spread widening due to economic weakness and market concerns that deeply subordinated securities will not be supported by governments should banks find themselves in need of state aid. Government initiatives put into place during 2008 and 2009 have been largely successful in reopening the funding markets though lending remains cautious in some countries and sectors of the economy. Many banks have benefited from both direct assistance (government capital injections, asset relief plans and government guarantees on debt) and indirect assistance (various government liquidity measures, including short-term funding facilities). Global banks remain somewhat vulnerable to ongoing asset write-downs, credit losses and weak earnings prospects that are associated with a recessionary environment. This continues to pressure subordinated and longer duration holdings. The Company evaluated the near-term prospects of the issuers in relation to the severity and duration of the unrealized loss and does not consider those investments to be impaired as of December 31, 2009.

At December 31, 2009, the Company’s commercial mortgage-backed securities (CMBS) portfolio had investments in an unrealized loss position which had a fair value of $2,843,189 and a carrying value of $3,624,839, resulting in a gross unrealized loss of $781,650. CMBS are securitizations of underlying pools of mortgages on commercial real estate. The underlying mortgages have varying risk characteristics and are pooled together and sold in different rated tranches. The Company’s CMBS portfolio includes conduit, large loan, single borrower, commercial real estate collateral debt obligations (CRE CDOs), and franchise loan receivable trusts.

All CMBS securities are monitored and modeled under base and several stress-case scenarios by asset specialists. For conduit securities, a widely recognized industry modeling software is used to perform a loan-by-loan, bottom-up analysis. For non-conduit securities a CMBS asset specialist works closely with the Company’s real estate valuation group to determine underlying asset valuation and risk. Both methodologies incorporate external estimates on the property market, capital markets, property cash flows, and loan structure. Results are then closely analyzed by the asset specialist to determine whether or not a principal or interest loss is expected to occur. If cash flow models indicate a credit event will impact future cash flows, and the Company does not have the intent to sell the security and does have the intent and ability to hold the security, the security is impaired to discounted cash flows.

47

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

Over the past 18 months, the commercial real estate market has continued to soften. As property fundamentals deteriorate, CMBS loan delinquencies have been climbing at the same time. The introduction of the 20% and 30% credit enhanced classes within the 2005-2008 vintage deals provide some offset to these negative fundamentals. Despite beginning to show signs of improvement, the lending market remains limited as lenders have become more conservative with underwriting standards, property transactions have diminished greatly, and higher mortgage spreads have curtailed borrowing. A lack of liquidity in the market combined with a broad re-pricing of risk has led to increased credit spreads across the credit classes. As the remaining unrealized losses in the CMBS portfolio relate to holdings where the Company expects to receive full principal and interest and the Company does not have the intent to sell and does have the intent and ability to hold the security, the Company does not consider the underlying investments to be other-than-temporarily impaired as of December 31, 2009.

At December 31, 2009 the Company’s residential mortgage-backed securities (RMBS) sector portfolio had investments in an unrealized loss position which had a fair value of $2,770,416 and a carrying value of $3,943,294, resulting in a gross unrealized loss of $1,172,878. RMBS are securitizations of underlying pools of non-commercial mortgages on real estate. The underlying residential mortgages have varying credit ratings and are pooled together and sold in tranches. The Company’s RMBS portfolio includes collateralized mortgage obligations (CMOs), government sponsored enterprise (GSE) guaranteed pass-throughs, whole loan pass-throughs, Alternative-A Paper MBS and negative amortization MBS.

All RMBS securities of the Company are monitored and reviewed on a monthly basis with detailed modeling completed on each portfolio quarterly. Model output is generated under base and several stress-case scenarios. RMBS asset specialists utilize widely recognized industry modeling software to perform a loan-by-loan, bottom-up approach to modeling. Models incorporate external loan-level analytics to identify the riskiest securities. The results from the models are then closely analyzed by the asset specialist to determine whether or not a principal or interest loss is expected to occur. If cash flow models indicate a credit event will impact future cash flows, and the Company does not have the intent to sell the security and does have the intent and ability to hold the security, the security is impaired to discounted cash flows.

The pace of deterioration of RMBS securities continued in early 2009, but began to stabilize in late 2009. Even with the stabilization, fundamentals in RMBS securities continue to be weak. Delinquencies and severities in property liquidations remain at an elevated level. Prepayments remain at historically low levels. Due to the weak fundamental situation, reduced liquidity, and the requirement for higher yields due to uncertainty, credit spreads remain elevated across the asset class. As the unrealized losses in the RMBS portfolio relate to holdings where the Company expects to receive full principal and interest and the Company does not have the intent to sell and does have the intent and ability to hold the security, the Company does not consider the underlying investments to be other-than-temporarily impaired as of December 31, 2009.

48

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

At December 31, 2009, the Company’s asset-backed securities (ABS) subprime mortgage portfolio had investments in an unrealized loss position which had a fair value of $948,011 and a carrying value of $1,337,132, resulting in a gross unrealized loss of $389,121.

Sub-prime mortgages are loans to homebuyers who have weak or impaired credit histories, are loans that are non-conforming or are loans that are second in priority. The Company does not sell or buy sub-prime mortgages directly. The Company’s exposure to sub-prime mortgages is through ABS. These securities are pools of mortgages that have been securitized and offered to investors as ABS, where the mortgages are collateral. Most of the underlying mortgages within the pool have FICO scores below 660 at issuance. Therefore, the ABS has been classified by the Company as a sub-prime mortgage position. Also included in the Company’s total sub-prime mortgage position are ABS with second lien mortgages as collateral. The second lien mortgages may not necessarily have sub-prime FICO scores; however, the Company has included these ABS in its sub-prime position as it’s the second priority in terms of repayment. The Company does not have any “direct” residential mortgages to sub-prime borrowers outside of the ABS structures.

The Company became cautious of the structural aspects of the mezzanine classes in 2002 and stopped purchasing the mezzanine tranches with an original NRSRO rating at issuance of ‘A’ or lower in 2003. Beginning in 2003, the Company began actively selling mezzanine positions as market spreads tightened, continued to upgrade the portfolio and reduced relative exposure to the sector as underwriting deteriorated.

All ABS sub-prime mortgage securities are monitored and reviewed on a monthly basis with detailed cash flow models using the current collateral pool and capital structure on the portfolio quarterly. Model output is generated under base and several stress-case scenarios. ABS-housing asset specialists utilize widely recognized industry modeling software to perform a loan-by-loan, bottom-up approach to modeling. The ABS-housing models incorporate external estimates on property valuations, borrower characteristics, propensity of a borrower to default or prepay and the overall security structure. Defaults were estimated by identifying the loans that are in various delinquency buckets and defaulting a certain percentage of them over the near-term and long-term. Recent payment history, a percentage of on-going delinquency rates and a constant prepayment rate are also incorporated into the models. Once the entire pool is modeled, the results are closely analyzed by the asset specialist to determine whether or not the Company’s particular tranche or holding is at risk for payment interruption. If cash flow models indicate a credit event will impact future cash flows, and the Company does not have the intent to sell the security and does have the ability to hold the security, the security is impaired to discounted cash flows.

49

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

Fair values on the Company’s ABS sub-prime mortgage portfolio have declined as the collateral pools have experienced higher than expected delinquencies and losses, further exacerbated by the impact of declining home values on borrowers using affordability products. The unrealized loss is primarily due to decreased liquidity and increased credit spreads in the market combined with significant increases in expected losses on loans within the underlying pools. Expected losses within the underlying pools are generally higher than original expectations, primarily in certain later-vintage adjustable rate mortgage loan pools, which has led to some rating downgrades in these securities.

The following table provides the actual cost, carrying value and fair value by asset class of the Company’s subprime mortgage position at December 31, 2009:

	Actual Cost		Carrying Value		Fair Value
Residential Mortgage Backed Securities	$	1,524,760	$	1,394,192	$	1,005,411

Aggregate totals for loan-backed and structured securities with a recognized OTTI during the current reporting period are shown below, classified on the basis of the OTTI:

	Amortized Cost		OTTI Recognized Through Income				Fair Value
	Basis Before OTTI		Interest		Non-interest
OTTI recognized based on:
Intent to sell	$	200,097	$	—	$	71,662	$	128,435
Total OTTI on loan-backed securities	$	200,097	$	—	$	71,662	$	128,435

	Amortized Cost before Current Period OTTI		Projected Cash Flows		Recognized OTTI		Amortized Cost After OTTI		Fair Value
3rd quarter present value of cash flows expected to be less than the amortized cost basis	$	320,333	$	293,177	$	27,156	$	293,177	$	153,730
4th quarter present value of cash flows expected to be less than the amortized cost basis		622,868		533,151		89,717		533,151		253,458
Aggregate total	$	943,201	$	826,328	$	116,873	$	826,328	$	407,188

50

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The following loan-backed and structured securities which continue to be held at December 31, 2009 had a recognized OTTI during the year then ended:

CUSIP	Amortized Cost before Current Period OTTI		Projected Cash Flows		Recognized OTTI		Amortized Cost After OTTI		Fair Value		Quarter in which Impairment Occurred
02148AAA4	$	56,623	$	55,412	$	1,211	$	55,412	$	27,639	3Q 2009	*
02148YAJ3		10,038		9,635		403		9,635		5,095	3Q 2009	*
045427AE1		5,981		4,341		1,640		4,341		388	3Q 2009	*
126670ZN1		32,849		28,835		4,014		28,835		2,148	3Q 2009	*
12668VAF6		14,078		9,775		4,303		9,775		3,695	3Q 2009	*
225470FJ7		11,026		10,842		184		10,842		6,252	3Q 2009	*
225470T94		9,057		8,721		336		8,721		4,335	3Q 2009	*
22942KCA6		27,233		25,136		2,097		25,136		14,065	3Q 2009	*
32027LAG0		156		153		3		153		55	3Q 2009	*
32028TAF4		214		210		4		210		167	3Q 2009	*
35729PPC8		3,943		727		3,216		727		169	3Q 2009	*
3622MAAF8		300		294		6		294		73	3Q 2009	*
40430FAF9		2,814		591		2,223		591		93	3Q 2009	*
43710LAF1		152		150		2		150		94	3Q 2009	*
46628SAJ2		11,798		11,254		544		11,254		4,475	3Q 2009	*
576435AT8		494		484		10		484		303	3Q 2009	*
655374AA4		3,374		3,252		122		3,252		1,663	3Q 2009	*
86358EZU3		20,660		10,929		9,731		10,929		3,505	3Q 2009	*
939336Q55		725		687		38		687		255	3Q 2009	*
02148AAA4		55,412		54,674		738		54,674		30,484	3Q 2009
059512AP8		6,545		2,207		4,338		2,207		745	3Q 2009
12668VAF6		9,775		9,187		588		9,187		4,470	3Q 2009
225470FJ7		10,842		10,455		387		10,455		6,985	3Q 2009
22942KCA6		25,136		24,544		592		24,544		14,572	3Q 2009
23245CAF7		440		317		123		317		90	3Q 2009
3622MAAF8		294		248		46		248		48	3Q 2009
36244SAE8		1,000		949		51		949		481	3Q 2009
43710LAF1		150		107		43		107		113	3Q 2009
52524MAW9		11,476		11,109		367		11,109		3,902	3Q 2009
68400DAG9		4,806		3,554		1,252		3,554		193	3Q 2009
70557RAB6		41,797		37,940		3,857		37,940		20,360	3Q 2009
86358EZU3		10,929		9,287		1,642		9,287		1,747	3Q 2009
939336Q55		687		680		7		680		260	3Q 2009
059494AA2		45,467		44,726		741		44,726		30,478	4Q 2009
05951VAV1		60,026		59,859		167		59,859		34,196	4Q 2009
05948KV63		15,678		15,283		395		15,283		11,397	4Q 2009
12513YAK6		5,856		1,893		3,963		1,893		1,164	4Q 2009
126670ZN1		28,832		26,567		2,265		26,567		3,802	4Q 2009
126685DZ6		8,557		6,962		1,595		6,962		5,593	4Q 2009
23245CAF7		304		267		37		267		214	4Q 2009
12667G5G4		28,792		27,581		1,211		27,581		24,737	4Q 2009
02148AAA4		53,080		52,679		401		52,679		32,386	4Q 2009
02148YAJ3		9,305		8,787		518		8,787		6,122	4Q 2009
045427AE1		4,341		3,378		963		3,378		517	4Q 2009
12640PAA3		12,074		11,491		583		11,491		10,336	4Q 2009

51

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

CUSIP	Amortized Cost before Current Period OTTI	Projected Cash Flows	Recognized OTTI	Amortized Cost After OTTI	Fair Value	Quarter in which Impairment Occurred
225470FJ7	10,117	10,075	42	10,075	7,421	4Q 2009
32027LAG0	147	116	31	116	46	4Q 2009
32028TAF4	198	182	16	182	125	4Q 2009
38011AAC8	2,961	2,627	334	2,627	1,992	4Q 2009
361856EC7	31,354	26,889	4,465	26,889	14,755	4Q 2009
3622MAAF8	234	218	16	218	55	4Q 2009
43710LAF1	96	91	5	91	80	4Q 2009
52524YAA1	48,402	48,151	251	48,151	36,839	4Q 2009
52524MAW9	10,923	10,743	180	10,743	4,023	4Q 2009
576435AT8	467	397	70	397	284	4Q 2009
655374AA4	3,144	2,723	421	2,723	1,573	4Q 2009
68400DAG9	3,535	2,809	726	2,809	180	4Q 2009
761118VY1	30,381	29,354	1,027	29,354	12,445	4Q 2009
86358EZU3	9,243	9,032	211	9,032	222	4Q 2009
225470T94	8,516	7,425	1,091	7,425	5,324	4Q 2009
225470U27	7,991	6,431	1,560	6,431	4,577	4Q 2009
933637AJ9	3,783	3,505	278	3,505	2,574	4Q 2009

* The impairment amount was recorded as a part of the cumulative effect of adoption of SSAP No. 43R and was not reflected in the income statement in the current period.

The unrealized losses of loan-backed and structured securities where fair value is less than cost or amortized cost for which an OTTI has not been recognized in earnings at December 31, 2009 is as follows:

	Losses 12 Months or More		Losses Less Than 12 Months
Unrealized loss on securities in a continuous loss position	$	2,777,510	$	116,079
Fair value of security with continuous unrealized loss		7,198,974		1,553,619

As the remaining unrealized losses in the ABS-housing portfolio relate to holdings where the Company expects to receive full principal and interest and the Company does not have the intent to sell and does have the intent and ability to hold the security, the Company does not consider these underlying investments to be other-than-temporarily impaired as of December 31, 2009.

52

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

Detail of net investment income (loss) is presented below:

	Year Ended December 31
	2009			2008			2007
Income (loss):
Bonds	$	2,581,437		$	2,993,763		$	3,247,217
Preferred stocks		10,395			118,882			147,440
Common stocks		8,444			46,168			36,245
Mortgage loans on real estate		609,836			690,904			756,200
Real estate		20,748			21,328			22,332
Policy loans		50,065			46,017			46,850
Cash, cash equivalents and short-term investments		38,804			85,494			113,695
Derivatives		(134,716	)		(9,236	)		2,244
Other invested assets		17,276			28,504			32,569
Other		9,242			32,637			14,131
Gross investment income		3,211,531			4,054,461			4,418,923
Less investment expenses		138,374			167,535			206,452
Net investment income	$	3,073,157		$	3,886,926		$	4,212,471

Proceeds from sales and other disposals of bonds and preferred stock, excluding maturities, and related gross realized capital gains and losses were as follows:

	Year Ended December 31
	2009			2008			2007
Proceeds	$	15,859,986		$	18,754,578		$	33,516,023
Gross realized gains	$	365,788		$	362,022		$	570,114
Gross realized losses		(741,986	)		(617,685	)		(289,471	)
Net realized capital gains (losses)	$	(376,198	)	$	(255,663	)	$	280,643

53

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

Net realized capital gains (losses) on investments are summarized below:

	Realized
	Year Ended December 31
	2009			2008			2007
Bonds	$	(612,760	)	$	(324,506	)	$	205,396
Preferred stocks		6,697			(120,940	)		32,322
Common stocks		(4,947	)		(65,021	)		115,631
Mortgage loans on real estate		(55,349	)		(7,074	)		1,697
Real estate		(1,051	)		17,781			96
Cash, cash equivalents, and short-term investments		80			(13,767	)		(7,906	)
Derivatives		(437,350	)		54,650			(10,099	)
Other invested assets		(8,392	)		654,443			284,195
		(1,113,072	)		195,566			621,332
Federal income tax effect		235,951			119,219			(244,354	)
Transfer to (from) interest maintenance reserve		176,600			51,433			(63,179	)
Net realized capital gains (losses) on investments	$	(700,521	)	$	366,218		$	313,799

Gross realized losses for the years ended December 31, 2009, 2008 and 2007 include $618,554, $367,432 and $70,724, respectively, which relate to losses recognized on other-than-temporary declines in the fair values of bonds and preferred stocks.

At December 31, 2009 and 2008, the Company had recorded investments in restructured securities of $90,186 and $13,157, respectively. The capital gains (losses) taken as a direct result of restructures in 2009, 2008 and 2007 were $(84,752), $1,905 and $(713), respectively. The Company often has impaired a security prior to the restructure date. These impairments are not included in the calculation of restructure related losses and are accounted for as a realized loss, reducing the cost basis of the security involved.

Gross unrealized gains and gross unrealized losses on common stock, including the stock of affiliated entities, are as follows:

	December 31
	2009			2008
Unrealized gains	$	224,219		$	173,987
Unrealized losses		(219,056	)		(243,477	)
Net unrealized gains (losses)	$	5,163		$	(69,490	)

54

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The changes in net unrealized capital gains and losses on investments were as follows:

	Change in Unrealized
	Year Ended December 31
	2009			2008			2007
Bonds	$	16,818		$	(226,573	)	$	66,449
Preferred stocks		(46,613	)		(22,844	)		17,321
Common stocks		36,097			(28,697	)		(42,193	)
Affiliated entities		37,287			(7,222	)		557,585
Mortgage loans on real estate		(8,024	)		—			—
Cash, cash equivalents, and short-term investments		284			—			—
Derivatives		(410,982	)		382,983			(36,994	)
Other invested assets		(211,719	)		(900,944	)		321,216
Change in unrealized capital gains (losses)	$	(586,852	)	$	(803,297	)	$	883,384

During 2009, the Company issued mortgage loans with interest rates of 6.65% for commercial loans and 7% for agricultural loans. The maximum percentage of any one mortgage loan to the value of the underlying real estate at origination was 60%. Mortgage loans with a carrying amount of $11 were non-income producing for the previous 180 days. Accrued interest of $3, $346 and $3 related to these mortgage loans was excluded from investment income at December 31, 2009, 2008 and 2007, respectively. The Company has a mortgage or deed of trust on the property thereby creating a lien which gives it the right to take possession of the property (among other things) if the borrower fails to perform according to the terms of the loan documents. The Company requires all mortgaged properties to carry fire insurance equal to the value of the underlying property.

At December 31, 2009 and 2008, respectively, the Company held $121,760 and $28,709 in impaired loans with related allowance and credit losses of $8,024 and $11,924. There were no impaired mortgage loans held without an allowance for credit losses as of December 31, 2009 and 2008, respectively. The average recorded investment in impaired loans during 2009 was $32,445.

The following table provides a reconciliation of the beginning and ending balances for the allowance for credit losses on mortgage loans:

	Year Ended December 31
	2009			2008		2007
Balance at beginning of period	$	11,924		$	—	$	—
Additions, net charged to operations		20,940			11,924		—
Recoveries in amounts previously charged off		(24,840	)		—		—
Balance at end of period	$	8,024		$	11,924	$	—

55

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The Company accrues interest income on impaired loans to the extent deemed collectible (delinquent less than 91 days) and the loan continues to perform under its original or restructured contractual terms. Interest income on nonperforming loans generally is recognized on a cash basis. At December 31, 2009 and 2008, respectively, the Company recognized $1,993 and $1,374 of interest income on impaired loans. The Company did not recognize any interest income on impaired loans during 2007. Interest income of $509 and $1,570, respectively, was recognized on a cash basis for the years ended December 31, 2009 and 2008. The Company did not recognize any interest income on impaired loans or any interest income on a cash basis for the year ended December 31, 2007.

At December 31, 2009 and 2008, the Company held a mortgage loan loss reserve in the AVR of $123,257 and $361,121, respectively.

The Company’s mortgage loan portfolio is diversified by geographic region and specific collateral property type as follows:

Geographic Distribution
	December 31
	2009		2008
South Atlantic	23	%	24	%
Pacific	22		23
Mountain	15		14
Middle Atlantic	15		14
E. North Central	10		10
W. North Central	5		5
W. South Central	5		4
E. South Central	3		4
New England	2		2

Property Type Distribution
	December 31
	2009		2008
Office	31	%	31	%
Apartment	21		20
Retail	20		19
Industrial	19		19
Other	5		6
Agricultural	3		5
Medical	1		—

At December 31, 2009, the Company had mortgage loans with a total net admitted asset value of $13,454 which had been restructured in accordance with SSAP No. 36, Troubled Debt Restructuring. The Company did not have any mortgage loans which had been restructured in accordance with SSAP No. 36 at December 31, 2008 or 2007. There were no realized losses during the years ended December 31, 2009, 2008 and 2007 related to such restructurings. There were no commitments to lend additional funds to debtors owing receivables at December 31, 2009, 2008 or 2007.

Investment expenses include expenses for the occupancy of company-owned property of $15,405, $16,705, and $16,084 during 2009, 2008, and 2007, respectively, as well as depreciation expense on these properties of $3,585, $3,349, and $3,161.

56

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

A write down of carrying value is required when an investor’s intent to retain the investment in the issuer has changed at the reporting date and there is not a sufficient period of time to allow for any anticipated recovery in value to occur. At December 31, 2009 and 2008, respectively, the Company recorded an impairment of $15,287 and $42,829 for its investment in Zero Beta Fund, LLC. The impairment was taken because there is an intent to sell some of the underlying investments of the fund before any anticipated recovery in value would occur.

The Company recorded an impairment of $40,688 for its investment in Real Estate Alternatives Portfolio 2, LLC and an impairment of $10,030 for its investment in Real Estate Alternatives Portfolio 3, LLC. The impairment was taken because the declines in fair value of underlying investments of the fund were deemed to be other-than-temporary.

The Company recorded an impairment of $2,120 for its investment in Yucaipa Equity Partners, L.P., an impairment of $2,884 for its investment in BCI Growth IV, L.P., an impairment of $296 for its investment in Allsop Venture Partners III, L.P., an impairment of $1,548 for its investment in B III Capital Partners, L.P., an impairment of $551 for its investment in Cahill, Warnock Strategic Partners Fund, L.P., an impairment of $49 for its investment in CM Equity Partners, L.P., an impairment of $133 for its investment in Conning Insurance Capital Limited Partnership III, an impairment of $706 for its investment in FS Equity Partners III, L.P., and an impairment of $5,133 for its investment in Harbour Group Investments III, L.P. It was determined that the decline was other-than-temporary because the expected future proceeds is the current reflected fair value on each of the deals.

For the year ended December 31, 2007, an impairment of $4,285 was recorded for MP Shoreline Associates, a LIHTC property. The impairment was determined by comparing the current book value to the fair value. The fair value was determined by discounting the anticipated future cash flows. Since the decline in fair value was determined to be other-than-temporary, the investment was written down to fair value.

The Company has an investment in Invenergy TN, LLC, a partnership which owns a 27 megawatt wind generating facility in Anderson County, Tennessee. This investment generates tax credits based on the amount of electricity produced from the wind turbines. Based on the project’s actual performance and a revised wind study, it was determined that the investment will not perform to the levels originally expected. For the year ending December 31, 2007, an impairment of $4,556 was recorded for the Invenergy TN, LLC partnership. The impairment was determined by comparing the current book value to the fair value as supplied by a third party. The fair value was determined by discounting future cash flows, expected future tax credits and income tax benefits of losses from the investment. Since the decline in fair value was determined to be other-than-temporary, the investment in the partnership was written down to the fair value amount. No further impairment was recorded for the Invenergy TN, LLC partnership during 2009 or 2008.

57

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

At December 31, 2009, the Company had ownership interests in 61 LIHTC properties. The remaining years of unexpired tax credits ranged from 1 to 12 and none of the properties were subject to regulatory review. The length of time remaining for holding periods ranged from 1 to 16 years. The amount of contingent equity commitments expected to be paid during the years 2010 to 2019 is $45,413. There were no impairment losses, write-downs or reclassifications during the year related to any of these credits.

The following table provides the carrying value of state transferable tax credits gross of any related tax liabilities and total transferable tax credits by state and in total as of December 31, 2009:

Description of State Transferable Tax Credits	State	Carrying Value		Unused Amount*
Low-Income Housing Tax Credits	MA	$	4,479	$	8,370
Total		$	4,479	$	8,370

* The unused amount reflects credits that the Company deems will be realizable in the period from 2010 to 2014.

The Company estimated the utilization of the remaining state transferable tax credits by projecting future tax liability based on projected premium, tax rates and tax credits, and comparing projected future tax liability to the availability of remaining state transferable tax credits. The Company had no impairment losses related to state transferable tax credits.

The Company uses interest rate swaps to reduce market risk in interest rates and to alter interest rate exposures arising from mismatches between assets and liabilities. An interest rate swap is an arrangement whereby two parties (counterparties) enter into an agreement to exchange periodic interest payments. The dollar amount the counterparties pay each other is an agreed-upon period interest rate multiplied by an underlying notional amount. Generally, no cash is exchanged at the outset of the contract and no principal payments are made by either party. The Company also uses cross currency swaps to reduce market risk in foreign currencies and to alter exchange exposure arising from mismatches between assets and liabilities. A cash payment is often exchanged at the outset of the swap contract, representing the present value of cash flows of the instrument. A notional currency exchange occurs at the beginning and end of the contract. During the life of the swap, the counterparties exchange fixed or floating interest payments in its swapped currency. All swap transactions are entered into pursuant to master agreements providing for a single net payment to be made by one counterparty at each due date.

58

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

An interest rate floor provides for the receipt of payments in the event interest rates fall below the strike rates in the contract. The interest rate floor is designed to generate cash flows to offset the lower cash flows received on assets during low interest rate environments. The Company pays a single premium at the beginning of the contract. These interest rate floors are marked to fair value in the balance sheet and the fair value adjustment is recorded in capital and surplus.

The Company invests in capped floating rate commercial mortgage loans and uses interest rate caps to convert the commercial mortgage loan into a pure floating rate asset in order to meet its overall asset/liability strategy. Interest rate caps provide for the receipt of payments when interest rates rise above the strike rates in the contract. A single premium is paid by the Company at the beginning of the interest rate cap contracts.

The Company replicates investment grade corporate bonds by combining a AAA rated security, as a cash component, with a credit default swap which, in effect, converts the high quality asset into a lower rated investment grade asset. Using the swap market to replicate credit quality enables the Company to enhance the relative values while having the ability to execute larger transactions in a shortened time frame. A premium is received by the Company on a periodic basis and recognized in investment income. At December 31, 2009 and 2008, the Company had replicated assets with a fair value of $475,424 and $466,244 and credit default swaps with a fair value of $1,377 and $(21,375), respectively. For the years ended December 31, 2009 and 2008, respectively, the Company recognized $3,088 and $306 in capital losses related to replication transactions. For the year ended December 31, 2007, the Company recognized no capital losses related to replication transactions.

The Company issues products providing the customer a return based on various global equity market indices. The Company uses global futures contracts and/or options to hedge the liability option risk associated with these products. Options are marked to fair value in the balance sheet and the fair value adjustment is recorded to unassigned surplus in the financial statements. The Company recognized income from options contracts in the amount of $1,534 for the year ended December 31, 2009. The Company did not recognize any income from options contracts for the years ended December 31, 2008 or 2007.

59

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

The Company is exposed to credit related losses in the event of nonperformance by counterparties to financial instruments, but it does not expect any counterparty to fail to meet their obligations given their high credit ratings. The credit exposure of interest rate swaps and currency swaps is represented by the fair value of contracts, aggregated at a counterparty level, with a positive fair value at the reporting date. The Company has entered into collateral agreements with certain counterparties wherein the counterparty is required to post assets on the Company’s behalf. The posted amount is equal to the difference between the net positive fair value of the contracts and an agreed upon threshold that is based on the credit rating of the counterparty. Inversely, if the net fair value of all contracts with this counterparty is negative, the Company is required to post assets instead. At December 31, 2009, the fair value of all contracts, aggregated at a counterparty level, with a positive and a negative fair value amounted to $219,070 and $320,048, respectively.

The maximum term over which the Company is hedging its exposure to the variability of future cash flows for forecasted transactions is 23 years. The Company hedges the variability in future cash flows from expected future investment purchases due to changes in interest rates through the use of forward starting interest rate swaps. If the forecasted asset purchase does not occur or is no longer highly probable of occurring, valuation at cost ceases and the forward-starting swap would be valued at its current fair value with fair value adjustments recorded in unassigned surplus. At December 31, 2009 and 2008, none of the Company’s cash flow hedges have been discontinued as it was probable that the original forecasted transactions would occur by the end of the originally specified time period documented at inception of the hedging relationship. As of December 31, 2009, the Company has accumulated deferred gains in the amount of $103,278 related to the termination of forecasted transactions. It is expected that these gains will be used as basis adjustments on future asset purchases expected to transpire throughout 2026.

Derivative instruments are subject to market risk, which is the possibility that future changes in market prices may make the instruments less valuable. The Company uses derivatives as hedges; consequently, when the value of the derivative changes, the value of a corresponding hedged asset or liability will move in the opposite direction. Market risk is a consideration when changes in the value of the derivative and the hedged item do not completely offset (correlation or basis risk) which is mitigated by active measuring and monitoring.

60

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

At December 31, 2009 and 2008, the Company’s outstanding financial instruments with on and off balance sheet risks, shown in notional amounts, are summarized as follows:

	Notional Amount
	2009		2008
Interest rate and currency swaps:
Receive floating - pay floating	$	2,129,869	$	2,716,370
Receive fixed - pay floating		10,548,640		12,919,749
Receive floating - pay fixed		5,856,796		8,199,009
Receive fixed - pay fixed		236,005		201,763
Interest rate cap agreements		1,605,000		1,640,000
Interest rate floor agreements		64,000		62,400

The Company utilizes futures contracts to hedge against changes in market conditions. Initial margin deposits are made by cash deposits or segregation of specific securities as may be required by the exchange on which the transaction was conducted. Pursuant to the contracts, the Company agrees to receive from or pay to the broker, an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as “variation margin” and are recorded by the Company as a variation margin receivable or payable on futures contracts. During the period the futures contracts are open, daily changes in the values of the contracts are recognized as realized gains (losses) since they are effectively settled daily through the variation account. The Company recognizes a realized gain or loss equal to the difference between the proceeds from, or cost of, the closing transaction and the Company’s cost basis in the contract. The Company recognized net realized gains (losses) from futures contracts in the amount of $(180,328), $119,833 and $(9,888) for the years ended December 31, 2009, 2008 and 2007, respectively.

61

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

5. Investments (continued)

Open futures contracts at December 31, 2009 and 2008, were as follows:

Number of Contracts	Contract Type	Opening Market Value		Year-End Market Value
December 31, 2009
1,074	S&P 500 March 2010 Futures	$	297,468	$	298,223
December 31, 2008
5,271	S&P 500 March 2009 Futures	$	1,171,777	$	1,186,107

For the years ended December 31, 2009 and 2008, the Company has recorded $(73,133) and $264,343, respectively, for the component of derivative instruments utilized for hedging purposes that did not qualify for hedge accounting. This has been recorded directly to unassigned surplus as an unrealized gain (loss). The Company did not recognize any unrealized gains and losses during 2009 and 2008 that represented the component of derivative instruments gain or loss that was excluded from the assessment of hedge effectiveness.

At December 31, 2009 and 2008, investments with an aggregate carrying value of $44,519,346 and $44,600,539, respectively, were on deposit with regulatory authorities or were restrictively held in bank custodial accounts for the benefit of such regulatory authorities, as required by statute.

6. Reinsurance

Certain premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. The Company reinsures portions of the risk on certain insurance policies which exceed its established limits, thereby providing a greater diversification of risk and minimizing exposure on larger risks. The Company remains contingently liable with respect to any insurance ceded, and this would become an actual liability in the event that the assuming insurance company became unable to meet its obligation under the reinsurance treaty.

62

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Premiums earned reflect the following reinsurance assumed and ceded amounts:

	Year Ended December 31
	2009			2008			2007
Direct premiums	$	12,709,931		$	13,309,443		$	11,477,571
Reinsurance assumed - non affiliates		1,612,150			1,515,095			1,756,468
Reinsurance assumed - affiliates		196,638			296,438			238,831
Reinsurance ceded - non affiliates		(1,130,902	)		(1,101,435	)		(1,114,954	)
Reinsurance ceded - affiliates		(5,287,685	)		(6,501,597	)		(4,080,954	)
Net premiums earned	$	8,100,132		$	7,517,944		$	8,276,962

The Company received reinsurance recoveries in the amount of $2,360,201, $2,166,604 and $1,663,213 during 2009, 2008 and 2007, respectively. At December 31, 2009 and 2008, estimated amounts recoverable from reinsurers that have been deducted from policy and contract claim reserves totaled $464,122 and $425,122, respectively. The aggregate reserves for policies and contracts were reduced for reserve credits for reinsurance ceded at December 31, 2009 and 2008 of $37,294,459 and $29,483,844, respectively.

The net amount of the reduction in surplus at December 31, 2009 and 2008, if all reinsurance agreements were cancelled, is $28,937 and $7,856, respectively.

At December 31, 2009 and 2008, the amount of reinsurance credits, whether an asset or a reduction of liability, taken for new agreements or amendments was $3,383,308 and $2,708,917, respectively.

Effective July 1, 2009, and concurrent with the merger of CGC Life Insurance Company (CGC) into Transamerica Pacific Insurance Company, Ltd. (TPIC), the Company recaptured universal life business secondary guarantee reserves previously ceded to CGC, an affiliate. As a result, a pretax loss of $129,005 was included in the statement of operations. The remaining unamortized gain on a pretax basis that resulted from the initial ceding transaction to CGC that had been credited directly to unassigned surplus was released into earnings in the amount of $82,288.

Subsequently, effective July 1, 2009, the Company ceded the same block of universal life business plus additional universal life policies (2009 new issues) to TPIC under a coinsurance agreement. The pretax gain of $184,918 resulting from this transaction was credited directly to unassigned surplus.

63

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Also effective July 1, 2009, the Company ceded certain term life business to TPIC on a coinsurance basis. The net pretax gain of approximately $36,489 resulting from this transaction was credited directly to unassigned surplus.

Also effective July 1, 2009, the Company amended a reinsurance agreement with TPIC to change a term agreement from a coinsurance with funds withheld treaty to a straight coinsurance treaty. Assets of $58,394 were transferred to TPIC, and the Company released the funds withheld liability of a like amount. There was no earnings impact of this treaty amendment.

The Company entered into an indemnity reinsurance agreement with Monumental Life Insurance Company (MLIC), an affiliate, effective July 1, 2009 in which the Company agreed to cede on a coinsurance basis fixed deferred annuities issued under selected plans. The initial consideration paid was $3,474,331, the initial ceding allowance received was $13,677 and reserves ceded were $3,474,331. In addition, an interest maintenance reserve of $15,469 was transferred to MLIC, resulting in a pretax gain of $29,146 on the transaction, which was credited directly to unassigned surplus. During 2009, the Company amortized $1,895 into earnings on a net of tax basis with a corresponding charge to unassigned surplus.

Effective June 30, 2009, the Company entered into an indemnity reinsurance agreement with Global Preferred Re Limited, an affiliate, to cede on a 90% quota share basis the net liabilities associated with certain of the Company’s deferred fixed annuity products issued on or after April 1, 2009 on a coinsurance funds withheld basis.

Effective January 1, 2009, the Company terminated and recaptured a block of US credit life and credit disability business that had been reinsured from LIICA, which merged into the Company effective October 2, 2008, to an affiliate, Canadian Premier Life insurance Company (CPLIC). The Company paid CPLIC a recapture fee of $2,564. In addition, the unamortized pre-tax gain held by the Company in unassigned surplus resulting from the original insurance transaction was released into income in the amount of $2,910 ($1,892 on a net of tax basis).

Effective December 31, 2008, the Company recaptured term life business previously ceded to Transamerica International Re (Ireland) Ltd. (TIRI), and Transamerica International Re (Bermuda) Ltd (TIRe) both affiliates. The Company received recapture consideration of $120,476, recorded net assets of $33,804, and recaptured reserves of $856,239 and $53,085 for life and claim reserves, with respect to the recapture from TIRI. The Company received recapture consideration of $25,563, recorded net assets of $5,088, and recaptured reserves of $167,004 and $4,821 for life and claim reserves, with respect to the recapture from TIRe. The Company incurred a statutory loss on the recapture from TIRI in the amount of $755,044 and a statutory loss on the recapture from TIRe in the amount of $141,174. As a result, a pre-tax loss of $896,218 was included in the statement of operations. During 2007, the Company amortized $3,304 into earnings with a corresponding charge to unassigned surplus.

64

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Subsequently, effective December 31, 2008, the Company ceded term life business to CGC. The Company paid initial consideration of $146,039, released life and claim reserves of $1,023,243 and $57,906 respectively, and established other net liabilities of $38,892. The net pre-tax gain of $896,218 resulting from this transaction was credited directly to unassigned surplus.

The Company has entered into an indemnity reinsurance agreement effective December 31, 2008, with TIRe to cede on a 100% quota share basis the net liabilities associated with certain of the Company’s variable annuity products on a coinsurance and modified coinsurance basis. The Company ceded reserves on a coinsurance basis of $872,822 and ceded premium of a like amount, paid consideration of $223,608 and established a funds withheld liability of $1,096,431. The pre-tax loss of $223,608 ($145,345 on a net of tax basis) is included in the statement of operations. The Company ceded general account and separate account reserves on a modified coinsurance basis of $284,780 and $7,248,603, respectively. An initial reinsurance premium equal to the reserves ceded was recorded, resulting in no gain or loss on the modified coinsurance portion on this transaction.

Effective October 1, 2008 the Company recaptured various guaranteed minimum death benefit (GMDB) riders included in certain of its variable annuity contracts that were previously ceded to TIRe under a 2001 reinsurance agreement. The Company released a funds withheld liability of $40,133 associated with this business and received recapture consideration of $45,038. Reserves recaptured included $100,672 of GMDB reserves and $15,099 of claim reserves. The resulting pre-tax loss of $30,600 was included in the statement of operations. In addition, the unamortized pre-tax ceded gain held by the Company in unassigned surplus resulting from the original reinsurance transaction was released into income in the amount of $16,521 ($10,739 net of tax). Prior to this transaction, the Company had amortized $3,812 and $5,083 on a pre-tax basis ($2,478 and $3,304 on a net of tax basis) into earnings for 2008 and 2007, respectively, with a corresponding charge to unassigned surplus.

Effective December 31, 2008, the Company recaptured term life business previously ceded to TIRI on a funds withheld basis under a 2001 reinsurance agreement. The Company released the funds withheld liability of $38,603 and recorded net assets of $5,036, recaptured reserves of $288,498 and $7,065 for life and claim reserves, respectively. As a result, a pre-tax loss of $251,924 was included in the statement of operations. The gain that resulted from the initial ceding transaction to TIRI that had been credited directly to unassigned surplus was released into earning in the amount of $221. In 2007, the company amortized $28 into earnings.

65

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Subsequently, effective December 31, 2008, the Company ceded term life business on a funds withheld basis to CGC. Life and claim reserves of $288,498 and $7,065, respectively, were released and the Company established a funds withheld liability of $38,603 and established other net liabilities of $5,036. The net pre-tax gain of $251,924 resulting from this transaction was credited directly to unassigned surplus. During 2009, the Company amortized $11,425 into earnings on a net of tax basis with a corresponding charge to unassigned surplus.

Also effective December 31, 2008, the Company ceded certain term life business to CGC on a funds withheld basis. Life and claim reserves of $587,293 and $6,874, respectively were released and the Company established other reserves of $28,680. The net pre-tax gain of $565,487 resulting from this transaction was credited directly to unassigned surplus.

The Company entered into an assumption reinsurance agreement with MLIC effective September 30, 2008. The Company was the issuer of a series of corporate-owned life insurance policies issued to LIICA. The assumption reinsurance transaction resulted in the Company novating all liabilities arising under these policies to MLIC. The Company ceded reserves of $138,025 and paid consideration of $125,828. The Company recorded a liability of $12,197 within the remittances line related to this transaction. The Company amortized $1,201 of the liability in 2009.

The Company entered into a stop loss reinsurance agreement with Transamerica Life International (Bermuda) Ltd. (TLIB), an affiliate, to cede an in force block of universal life business effective July 1, 2008. Reinsurance premiums paid of $70,728 were offset by a comparable amount of ceded reserves. Several other accounts were impacted by lesser amounts resulting in a pre-tax loss of $15. The net of tax loss of $10 was included in the statement of operations.

The Company entered into an assumption reinsurance agreement with CPLIC, effective July 1, 2008. This transaction resulted in CPLIC assuming all in force policies and certificates from the Canadian branch of the Company, along with all of the assets and liabilities related to these policies and all capital supporting this business. Subsequent to this assumption reinsurance transaction, the Company withdrew its license in Canada and therefore considered this transaction an economic transaction. The Company received a ceding commission of $11,460, which resulted in a pre-tax gain. During 2007, LIICA amended its 50% reinsurance treaty with CPLIC. LIICA received a ceding commission of $2,910 ($1,892 net of tax). This gain was credited directly to unassigned surplus at December 31, 2007.

66

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Below is a summary of the net policyholder liabilities and assets transferred effective July 1, 2008:

Invested assets/cash transferred	$	(52,859	)
Ceded reserves		64,882
Due premiums		(2,920	)
Due comp liability		1,007
Retro accruals		1,350
Pre-tax net income impact	$	11,460

The Company entered into an indemnity reinsurance agreement with a nonaffiliated company effective May 1, 2008 in which the Company agreed to cede certain single premium deferred annuities on a coinsurance basis. The initial consideration paid was $446,522, the initial ceding allowance received was $18,263, and reserves ceded were $446,522, resulting in a pre-tax gain of $18,263. The net of tax gain of $11,871 was credited directly to unassigned surplus. The Company amortized $2,466 and $1,410 on a net of tax basis into earnings during 2009 and 2008, respectively, with a corresponding charge to unassigned surplus.

The Company entered into a stop loss reinsurance agreement with TLIB to cede an in force block of universal life business effective January 1, 2008. Reinsurance premiums paid of $3,267,950 were offset by a comparable amount of ceded reserves. Several other accounts were impacted by lesser amounts resulting in a pre-tax loss of $603. The net of tax loss of $392 was included in the statement of operations.

Effective December 31, 2007, TIRe recaptured all inforce business that was previously retroceded to the Company and LIICA under the retrocession agreement effective January 1, 2003. The difference between the life and claim reserves released of $541 and $45, respectively, and consideration paid of $366 was included in the statement of operations.

The Company and LIICA entered into an agreement effective December 31, 2007 to recapture obligations and benefits related to certain universal life insurance contracts that were previously ceded to TIRe in 2003. The Company assumed assets of $23,737 associated with this business and paid recapture consideration of $1,558. Reserves recaptured included life reserves of $3,935 and claim reserves of $434. As a result, a pre-tax gain of $17,810 was included in the statement of operations. In addition, the unamortized pre-tax ceded gain held by the Company in unassigned surplus resulting from the original reinsurance transaction was released into income in the amount of $6,240 ($4,056 net of tax). Prior to this transaction, the Company had amortized $1,418 on a pre-tax basis ($921 on a net of tax basis) into earnings for 2007, with a corresponding charge to unassigned surplus.

67

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

The Company and MLIC entered into an indemnity reinsurance agreement effective December 31, 2007, to automatically reinsure 100% of the risks attributable to secondary guarantee benefits on certain universal life policies that were issued by MLIC, with issue dates ranging from January 1, 2007 through December 31, 2007, and also covering policies issued between January 1, 2008 and December 31, 2008. As a result, the Company assumed reserves of $26,573.

Effective December 31, 2007, the Company entered into an indemnity reinsurance agreement with Pine Falls Re, Inc., an affiliate, to automatically reinsure 100% of the risks attributable to secondary guarantee benefits on certain universal life policies that were originally issued by the Company and assumed by the Company from various affiliated entities. Universal life secondary guarantee reserves ceded were $286,392, resulting in a pre-tax gain of $286,392 ($186,154, net of tax) that has been credited directly into unassigned surplus. During 2009, the Company amortized $258 into earnings on a net of tax basis with a corresponding charge to unassigned surplus.

On October 1, 2007 the Company and LIICA recaptured various fixed deferred annuity plans that were ceded to MLIC under a July 1, 1990 agreement. The recapture premium received was $302,727 and the commission expense allowance paid was $3,770, for a net consideration received of $298,957. Reserves recaptured were $302,727. The resulting pre-tax loss of $3,770 was included in the statement of operations.

The Company entered into an indemnity reinsurance agreement with a nonaffiliated company effective July 1, 2007, in which the Company agreed to cede a closed block of fixed and variable deferred annuities on a coinsurance and modified coinsurance basis. The net of tax gain of $10,931 from this transaction was credited directly to unassigned surplus. During 2009, 2008 and 2007 the Company amortized $1,347, $2,080 and $995, respectively, into earnings with a corresponding charge to unassigned surplus.

On April 1, 2007 LIICA entered into a recapture agreement with Veterans Life Insurance Company (VLIC), an affiliate of the Company, whereby VLIC recaptured all liabilities ceded to LIICA under an October 1, 2001 modified coinsurance agreement. The recapture consideration received was $76,086 and the reserves recaptured by VLIC were $173,147. LIICA paid a recapture premium of $173,147. The resulting pre-tax gain of $76,086 has been included in the statement of operations.

Effective December 31, 2007, LIICA recaptured all inforce universal life business that was previously reinsured to TIRI. LIICA paid a recapture fee of $4,004 and recovered miscellaneous assets of $1,985. Life and claims reserves were recaptured in the amount of $40,482 and $120, respectively. This transaction resulted in a net pre-tax loss of $42,621 which is included in the statement of operations.

68

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

Effective January 1, 2007, TOLIC recaptured the risks related to specified blocks of policies that were previously retroceded to TIRe. The recapture premium received was $9,677 and the commission expense allowance paid was $15,357 for a net consideration paid of $5,680. Reserves recaptured included $81,657 in life reserves and $457 in claim reserves resulting in a pre-tax loss of $87,794 which has been included in the statement of operations. TOLIC subsequently entered into an indemnity retrocession agreement with LIICA Re I, Inc., an affiliate, to retrocede specific blocks of policies assumed by TOLIC. Net consideration received by TOLIC was $16,006 and the life and claim reserves ceded were $81,657 and $457, respectively. This resulted in a pre-tax gain of $98,120 that was recorded directly to unassigned surplus on a net of tax basis. During 2007, TOLIC amortized $7,220 on a net of tax basis into earnings with a corresponding charge to unassigned surplus.

During 2007, TOLIC entered into an agreement with TIRe to retrocede certain life insurance policies issued by Seguros Argos, S.A. de C.V., effective January 1, 2007. The Company received consideration of $21,955, resulting in an initial transaction pre-tax gain of $21,955. The gain was recorded directly to unassigned surplus on a net of tax basis. During 2009, 2008 and 2007, the Company amortized $2,874, $2,574 and $1,901, respectively, on a net of tax basis into earnings with a corresponding charge to unassigned surplus.

Effective October 1, 2007, TOLIC recaptured the risks related to specified blocks of policies that were previously retroceded to TIRe. The consideration received was $59,744 and life and claim reserves recaptured were $358,102 and $7,900, respectively. This resulted in a pre-tax loss on the statutory income statement of $306,258. TOLIC subsequently entered into an indemnity retrocession agreement with TIRI to retrocede specific blocks of policies assumed by TOLIC. The consideration that was given in the transaction was $59,744 and the life and claim reserves ceded were $358,102 and $7,900, respectively. This resulted in a pre-tax gain on a statutory basis of $306,258 that was recorded directly to unassigned surplus on a net of tax basis. During 2008, the Company amortized $2,431 into earnings with a corresponding charge to unassigned surplus. The Company did not record any amortization in 2009 or 2007.

Effective January 1, 2006, the Company entered into a reinsurance transaction with TIRI to cede an inforce block of universal life business. The net of tax impact from the cession of inforce business was $13,585, which was credited directly to unassigned surplus. During 2009, 2008 and 2007, the Company amortized $1,019 into earnings each year with a corresponding charge to unassigned surplus. The Company has a liability for funds held under reinsurance of $538,511 and $413,935 at December 31, 2009 and 2008, respectively.

69

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

TLB acquired the direct liability to the policyholder through a court order from the Hong Kong Special Administrative Region Court, effective December 31, 2006, for most of the business issued from TOLIC’s branch in Hong Kong. TLB also acquired the direct liability to the policyholder through a court order from the High Court of the Republic of Singapore, effective December 31, 2006 for all business issued from TOLIC’s branch in Singapore. The novation of the contracts was approved by the Iowa Insurance Department and all policyholder liabilities were transferred to TLB. All balances assumed by TLB were reflected as direct adjustments to the balance sheet. As the transfer occurred between affiliated companies no gain or loss was recognized, and the difference between the assets transferred and the statutory liabilities assumed in the amount of $78,993 was recorded as goodwill and will be amortized into operations over the life of the business, not to exceed ten years.

Goodwill in the amount of $8,642, $8,954 and $9,274 was amortized during 2009, 2008 and 2007, respectively, related to this transaction. TLB is valued on a U.S. statutory basis and includes a deferred gain liability of a similar amount to the goodwill reflected in the financials of the Company.

Effective December 31, 2006, TOLIC entered into a reinsurance agreement with LIICA Re II, Inc., an affiliate of the Company, to cede term and universal life business. The initial premium paid was $120,000. Reserves ceded included $212,319 of term life reserves, $834,446 of universal life secondary guarantee reserves, $1,067 of claim reserves and $5,911 of miscellaneous policyholder assets, resulting in a pre-tax gain of $921,921 that was recorded directly to unassigned surplus on a net of tax basis. During 2009, 2008 and 2007, the Company amortized $6,541, $74,716 and $1,321, respectively, on a net of tax basis into earnings with a corresponding charge to unassigned surplus.

Following the December 31, 2006 recapture of a block of in force term life business that was ceded to TIRe, TOLIC entered into a reinsurance agreement with LIICA Re I, Inc., to retrocede this block of term life business also effective December 31, 2006. The initial premium paid was $77,479, offset by the commission expense received of $42,022, for a net consideration of $35,457. Reserves ceded included $256,795 of life reserves and $13,146 of claim reserves, resulting in a pre-tax gain of $234,484 that was recorded directly to unassigned surplus on a net of tax basis. During 2009, the Company amortized $2,039 on a net of tax basis into earnings with a corresponding charge to unassigned surplus. The Company did not amortize any amounts related to this transaction during 2008 or 2007.

70

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

During 2001, TOLIC novated certain traditional life insurance contracts to Transamerica Financial Life Insurance Company (TFLIC), an affiliate of the Company, via an assumption reinsurance transaction. Under the terms of this agreement, a significant portion of the future statutory-basis profits from the contracts assumed by TFLIC will be passed through to the Company as an experience rated refund. TOLIC recorded a deferred liability of $14,334 as a result of this transaction, which has an unamortized balance of $1,433 at December 31, 2009. The accretion of the deferred liability was $1,433 for 2009, 2008 and 2007.

During 2001, TOLIC entered into a reinsurance transaction with TIRe. Under the terms of this transaction, the Company ceded the obligation of future guaranteed minimum death benefits included in certain of its variable annuity contracts. The gain on the transaction of $28,967 was credited directly to unassigned surplus on a net of tax basis. The Company amortized $1,883 for each of the years ended December 31, 2009, 2008 and 2007 into earnings with a corresponding charge to unassigned surplus. At December 31, 2009, the Company holds collateral from this affiliate in the form of letters of credit of $7,000, covering this reinsurance agreement and others.

During 2001, the Company entered into a reinsurance transaction with an unaffiliated company to cede certain annuity benefits on an inforce group of contracts. The gain from this transaction of $13,674 was credited directly to unassigned surplus. During 2009, 2008 and 2007, $781, $954 and $1,119, respectively, of the initial gain were amortized into earnings, with a corresponding charge to unassigned surplus.

Effective December 31, 2005, the Company entered into a reinsurance agreement with Stonebridge Reinsurance Company, an affiliate, to cede the term business and the secondary guarantee related to the universal life business. The consideration that was given in the transaction was $103,900, the commission expense allowance received was $67,400 and the reserves ceded were $832,400 ($508,200 term and $324,200 secondary guarantee). This resulted in a pre-tax gain on a statutory basis of $795,900 that was credited directly to unassigned surplus on a net of tax basis. During 2009 and 2008, respectively, the Company amortized $4,517 and $24,045 into earnings with a corresponding charge to unassigned surplus.

The Company reports a reinsurance deposit receivable of $137,437 and $128,745 as of December 31, 2009 and 2008, respectively. In 1996, TOLIC entered into a reinsurance agreement with an unaffiliated company where, for a net consideration of $59,716, TOLIC ceded certain portions of future obligations under single premium annuity contracts originally written by the Company in 1993. Consistent with the requirements of SSAP No. 75, Reinsurance Deposit Accounting, the Company reports the net consideration paid as a deposit. The amount reported is the present value of the future payment streams discounted at the effective yield rate determined at inception.

71

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

6. Reinsurance (continued)

During 2009, 2008 and 2007, the Company obtained letters of credit of $727,996, $716,918 and $334,491, respectively, for the benefit of affiliated and nonaffiliated companies that have reinsured business to the Company where the ceding company’s state of domicile does not recognize the Company as an authorized reinsurer.

7. Income Taxes

The net deferred income tax asset at December 31, 2009 and 2008 and the change from the prior year are comprised of the following components:

	December 31
	2009								2008
	Ordinary		Capital			Total			Total		Change
Total gross deferred income tax assets	$	1,162,628	$	636,817		$	1,799,445		$	1,674,921	$	124,524
Statutory valuation allowance adjustment		—		(81,188	)		(81,188	)		—		(81,188	)
Adjusted gross deferred income tax assets		1,162,628		555,629			1,718,257			1,674,921		43,336
Total deferred income tax liabilities		184,653		339,404			524,057			450,900		73,157
Net deferred income tax asset		977,975		216,225			1,194,200			1,224,021		(29,821	)
Deferred income tax asset nonadmitted		535,652		8,992			544,644			334,861		209,783
Net admitted deferred income tax asset	$	442,323	$	207,233		$	649,556		$	889,160	$	(239,604	)

72

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

The main components of deferred income tax amounts are as follows:

	December 31
	2009		2008		Change
Deferred income tax assets
§197 intangible amortization	$	126	$	147	$	(21	)
Credit carryforwards		112,480		17,420		95,060
Compensation related accruals		31,513		36,443		(4,930	)
Investments		667,047		419,207		247,840
Investment in controlled foreign company		—		107,064		(107,064	)
Nonadmitted assets		30,149		53,237		(23,088	)
Proxy DAC		590,614		574,394		16,220
Reserves		292,730		376,381		(83,651	)
Miscellaneous accruals		37,856		31,393		6,463
Other		36,930		59,235		(22,305	)
Total gross deferred income tax assets		1,799,445		1,674,921		124,524
Statutory valuation allowance adjustment		81,188		—		81,188
Total adjusted gross deferred income tax assets		1,718,257		1,674,921		43,336
Deferred income tax assets nonadmitted		544,644		334,861		209,783
Total admitted deferred income tax assets		1,173,613		1,340,060		(166,447	)
Deferred income tax liabilities
§807(f) adjustment		46,221		20,983		25,238
Investments		466,318		388,432		77,886
Separate account adjustments		9,615		14,776		(5,161	)
Reinsurance ceded		—		20,679		(20,679	)
Other		1,903		6,030		(4,127	)
Total deferred income tax liabilities		524,057		450,900		73,157
Net admitted deferred income tax asset	$	649,556	$	889,160	$	(239,604	)

The valuation allowance for deferred tax assets as of December 31, 2009 was $81,188. The Company did not have a valuation allowance for deferred tax assets as of December 31, 2008. The valuation allowance is primarily related to deferred tax assets of a capital character that in the judgment of management, are not more likely than not to be realized.

73

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

The change in net deferred income tax assets is as follows:

	December 31
	2009						2008
	Ordinary		Capital		Total		Total		Change
Net deferred income tax asset	$	977,975	$	216,225	$	1,194,200	$	1,224,021	$	(29,821	)
Tax effect of unrealized gains (losses)										(216,080	)
Prior period adjustment - unrealized gains (losses)										(5,227	)
Change in net deferred income tax asset									$	(251,128	)

	December 31				Change
	2008		2007
Net deferred income tax asset	$	1,224,021	$	987,493	$	236,528
Tax effect of unrealized gains (losses)						(445,093	)
Change in net deferred income tax asset					$	(208,565	)

74

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

As discussed in Note 1, the Company has elected to admit deferred tax assets pursuant to SSAP No. 10R, paragraph 10.e. for the 2009 reporting period. The amount of admitted adjusted gross deferred income tax assets under each component of SSAP No. 10R is as follows:

	December 31
	2009						2008
	Ordinary		Capital		Total		Total		Change
Admitted under paragraph 10.a.	$	70,812	$	6,281	$	77,093	$	343,822	$	(266,729	)
Admitted under paragraph 10.b.i.		166,410		110,793		277,203		160,333		116,870
Admitted under paragraph 10.b.ii.		—		—		—		—		—
Admitted under paragraph 10.c.		184,653		339,404		524,057		506,762		17,295
Total admitted under paragraph 10.a. - 10.c.	$	421,875	$	456,478	$	878,353	$	1,010,917	$	(132,564	)
Admitted under paragraph 10.e.i.	$	70,812	$	6,281	$	77,093
Admitted under paragraph 10.e.ii.a.		—		—		—
Admitted under paragraph 10.e.ii.b.		371,512		200,951		572,463
Admitted under paragraph 10.e.iii.		184,653		339,404		524,057
Total admitted under paragraph 10.e.i. - 10.e.iii.	$	626,977	$	546,636	$	1,173,613
Total increased admitted deferred income tax asset	$	205,102	$	90,158	$	295,260

Risk-Based Capital Summary:	Under 10.a.-10.c		Under 10.e.		Change
Admitted deferred income tax assets	$	354,296	$	649,556	$	295,260
Admitted assets		101,159,928		101,455,188		295,260
Statutory surplus		4,731,565		5,026,825		295,260
Total adjusted capital		5,600,252
Authorized control level		678,529

• 10.a. – Federal income taxes paid in prior year that can be recovered through loss carrybacks for existing temporary differences that reverse by the end of the subsequent calendar year

• 10.b.i. – Adjusted gross DTAs, after the application of 10.a., expected to be realized within one year

• 10.b.ii. – 10% of adjusted statutory capital and surplus as shown on most recently filed statement

• 10.c. – Adjusted gross DTAs, after the application of 10.a. and 10.b., that can be offset against gross DTLs after considering the character of the DTAs and DTLs

• 10.d. – If the reporting entity’s financial statements and risk-based capital (RBC) calculated using an admitted adjusted gross DTA as the sum of 10.a., 10.b., and 10.c. results in the Company’s RBC level being above the maximum RBC level where an action level could occur as a result of the trend test (i.e., 250%); then the Company may elect to admit a higher amount of adjusted gross DTAs as calculated in paragraph 10.e.

• 10.e.i. – Federal income taxes paid in prior years that can be recovered through loss carrybacks for existing temporary differences that reverse during a timeframe corresponding with IRS tax loss carryback provisions, not to exceed three years

• 10.e.ii.(a) – Adjusted gross DTAs, after the application of 10.e.i, expected to be realized within three years

• 10.e.ii.(b) – 15% of adjusted statutory capital and surplus as shown on most recently filed statement

• 10.e.iii. – Adjusted gross DTAs, after the application of 10.e.i. and 10.e.ii., that can be offset against DTLs after considering the character of the DTAs and DTLs

75

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

At December 31, 2008, as discussed in Note 2 - Prescribed and Permitted Statutory Accounting Practices, the Company, with permission from the State of Iowa Deputy Commissioner of Insurance, determined the admitted amount of deferred income tax assets pursuant to Iowa Bulletin 09-01. The following charts outline the effect of this permitted practice on the Company’s financial statements:

	3 years					1 year					Change
Gross DTAs at Enacted Tax Rate			$	1,674,921				$	1,674,921		$	—
Admitted Gross DTAs (paragraph 10 a.)	$	371,821				$	371,821
Admitted Gross DTAs (paragraph 10 b.)		517,339					136,981
Admitted Gross DTAs (paragraph 10 c.)		450,900					450,900
Total Admitted Gross DTAs		1,340,060		(1,340,060	)		959,702		(959,702	)		(380,358	)
Nonadmitted Gross DTAs				334,861					715,219			(380,358	)
Admitted DTA				1,340,060					959,702			380,358
Gross DTL				(450,900	)				(450,900	)		—
Net Admitted DTA			$	889,160				$	508,802		$	380,358
Total adjusted capital			$	5,855,303
Authorized control level				755,193

Current year income taxes incurred consist of the following major components:

	Year Ended December 31
	2009			2008
Current year tax benefit on operations	$	(112,696	)	$	(82,753	)
Tax credits		23,353			(64,995	)
Prior year adjustments		(15,599	)		115,372
Tax benefit on operations		(104,942	)		(32,376	)
Current year tax benefit on capital gains (losses)		(290,128	)		(119,219	)
Prior year adjustments		54,177			—
Tax benefit on capital gains (losses)		(235,951	)		(119,219	)
Current income taxes incurred	$	(340,893	)	$	(151,595	)

76

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

The Company’s current income tax incurred and change in deferred income tax differs from the amount obtained by applying the federal statutory rate of 35% to income before tax as follows:

	Year Ended December 31
	2009			2008			2007
Current income taxes incurred	$	(340,893	)	$	(151,595	)	$	447,369
Change in deferred income taxes (without tax on unrealized gains and losses)		251,128			208,565			(12,118	)
Total income tax reported	$	(89,765	)	$	56,970		$	435,251
Income before taxes	$	(523,918	)	$	(824,446	)	$	759,211
		35.00	%		35.00	%		35.00	%
Expected income tax expense (benefit) at 35% statutory rate		(183,371	)		(288,556	)		265,724
Increase (decrease) in actual tax reported resulting from:
a. Dividends received deduction		(23,617	)		(19,749	)		(22,001	)
b. Tax credits		(61,814	)		(82,095	)		(83,380	)
c. Tax-exempt income		(605	)		(681	)		(18	)
d. Tax adjustment for IMR		(1,213	)		(10,260	)		(14,721	)
e. Surplus adjustment for in-force ceded		25,009			336,881			216,427
f. Nondeductible expenses		3,626			2,717			(106	)
g. Statutory valuation allowance		81,188			—			—
h. Deferred tax benefit on other items in surplus		14,424			134,480			(22,807	)
i. Provision to return		(25,350	)		(2,188	)		54
j. Life insurer owned life insurance		(4,051	)		(3,955	)		(3,806	)
k. Dividends from certain foreign corporations		448			805			—
l. Pre-tax income of single member LLC’s		16,027			2,602			—
m. Prior period adjustments		68,049			5,799			107,523
n. FASIT Interest		—			(18,325	)		(29,400	)
o. Other		1,485			(505	)		21,762
Total income tax reported	$	(89,765	)	$	56,970		$	435,251

77

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

7. Income Taxes (continued)

For federal income tax purposes, the Company joins in a consolidated income tax return filing with its parent and other affiliated companies. The method of allocation between the companies is subject to a written tax allocation agreement. Under the terms of the tax allocation agreement, allocations are based on separate income tax return calculations. The Company is entitled to recoup federal income taxes paid in the event the future losses and credits reduce the greater of the Company’s separately computed income tax liability or the consolidated group’s income tax liability in the year generated. The Company is also entitled to recoup federal income taxes paid in the event the losses and credits reduce the greater of the Company’s separately computed income tax liability or the consolidated group’s income tax liability in any carryback or carryforward year when so applied. Intercompany income tax balances are settled within thirty days of payment to or filing with the Internal Revenue Service. The Company has a tax credit carryforward at December 31, 2009 and 2008 of $112,480 and $17,421, respectively, with no loss carryforward. At December 31, 2007, the Company had a credit carryforward of $307, with no loss carryforward.

The Company did not incur income taxes during 2009 or 2008, which will be available for recoupment in the event of future net losses. The Company incurred income taxes in 2007 of $6,281, which will be available for recoupment in the event of future losses.

The amount of tax contingencies calculated for the Company as of December 31, 2009 and 2008 is $60,339 and $56,704, respectively. The total amount of tax contingencies that, if recognized, would affect the effective income tax rate is $60,339. The Company classifies interest and penalties related to income taxes as interest expense and penalty expense, respectively. The Company’s interest expense related to income taxes for the year ended December 31, 2009 and 2008 is $5,088 and $4,111, respectively. The total interest payable balance as of December 31, 2009 and 2008 is $21,461 and $16,373, respectively. The Company recorded no liability for penalties. It is not anticipated that the total amounts of unrecognized tax benefits will significantly increase within twelve months of the reporting date.

The Company’s federal income tax returns have been examined by the Internal Revenue Service and closing agreements have been executed through 2000. The examination for the years 2001 through 2004 and 2005 through 2006 have been completed and resulted in tax return adjustments that are currently being appealed. The Company believes that there are adequate defenses against or sufficient provisions established related to any open or contested tax positions. An examination is currently underway for the years 2007 and 2008.

78

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes

Participating life insurance policies were issued by the Company which entitle policyholders to a share in the earnings of the participating policies, provided that a dividend distribution, which is determined annually based on mortality and persistency experience of the participating policies, is authorized by the Company. Participating insurance constituted approximately 0.07% and 0.08% of ordinary life insurance in force at December 31, 2009 and 2008, respectively.

For the years ended December 31, 2009, 2008 and 2007, premiums for life participating policies were $21,721, $18,433 and $21,950, respectively. The Company accounts for its policyholder dividends based on dividend scales and experience of the policies. The Company paid dividends in the amount of $11,010, $12,165 and $17,417 to policyholders during 2009, 2008 and 2007, respectively, and did not allocate any additional income to such policyholders.

A portion of the Company’s policy reserves and other policyholders’ funds (including separate account liabilities) relates to liabilities established on a variety of the Company’s annuity and deposit fund products. There may be certain restrictions placed upon the amount of funds that can be withdrawn without penalty. The amount of reserves on these products, by withdrawal characteristics, is summarized as follows:

	December 31 2009				December 31 2008
	Amount		Percent		Amount		Percent
Subject to discretionary withdrawal
With market value adjustment	$	2,362,527	3	%	$	2,427,891	4	%
At book value less surrender charge of 5% or more		12,077,452	17			9,063,978	13
At fair value		24,823,739	35			18,052,999	26
Total with adjustment or at market value		39,263,718	55			29,544,868	43
At book value without adjustment (with minimal or no charges or adjustments)		13,767,281	19			14,151,434	21
Not subject to discretionary withdrawal		18,345,290	26			24,373,769	36
Total annuity reserves and deposit fund liabilities - before reinsurance		71,376,289	100	%		68,070,071	100	%
Less reinsurance ceded		18,657,485				11,856,295
Net annuity reserves and deposit fund liabilities	$	52,718,804			$	56,213,776

79

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

Included in the liability for deposit-type contracts at December 31, 2009 and 2008 are $468,917 and $838,768, respectively, of funding agreements issued by an affiliate to special purpose entities in conjunction with non-recourse medium-term note programs. Under these programs, the proceeds from each note series issuance are used to purchase a funding agreement from an affiliated Company which secures that particular series of notes. The funding agreement is reinsured to the Company. In general, the payment terms of the note series match the payment terms of the funding agreement that secures that series. Claims for principal and interest for these funding agreements are afforded equal priority as other policyholders.

At December 31, 2009, the contractual maturities were as follows:

Year	Amount
2010	$	55,218
2011		125,575
2012		54,220
2013		—
2014		233,904
Thereafter		—

The Company’s liability for deposit-type contracts includes GIC’s and funding agreements assumed from MLIC. The liabilities assumed are $2,702,888 and $3,602,586 at December 31, 2009 and 2008, respectively.

Certain separate and variable accounts held by the Company relate to individual variable life insurance policies. The benefits provided on the policies are determined by the performance and/or fair value of the investments held in the separate account. The net investment experience of the separate account is credited directly to the policyholder and can be positive or negative. The assets of these separate accounts are carried at fair value. The life insurance policies typically provide a guaranteed minimum death benefit.

Certain separate accounts held by the Company represent funds which are administered for pension plans. The assets consist primarily of fixed maturities and equity securities and are carried at fair value. The Company provides a minimum guaranteed return to policyholders of certain separate accounts. Certain other separate accounts do not have any minimum guarantees and the investment risks associated with fair value changes are borne entirely by the policyholder.

80

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

Information regarding the separate accounts of the Company as of and for the years ended December 31, 2009, 2008 and 2007 is as follows:

	Guaranteed Indexed		Nonindexed Guarantee Less Than or Equal to 4%		Nonindexed Guarantee Greater Than 4%		Nonguaranteed Separate Accounts		Total
Premiums, deposits and other considerations for the year ended December 31, 2009	$	—	$	25,111	$	11,535	$	4,277,875	$	4,314,521
Reserves for separate accounts as of December 31, 2009 with assets at:
Fair value	$	—	$	23,701	$	43,846	$	30,630,714	$	30,698,261
Amortized cost		—		564,835		—		—		564,835
Total as of December 31, 2009	$	—		588,536	$	43,846	$	30,630,714	$	31,263,096
Reserves for separate accounts by withdrawal characteristics as of December 31, 2009:
Subject to discretionary withdrawal:
With market value adjustment	$	—	$	76,570	$	—	$	—	$	76,570
At fair value		—		—		—		30,630,714		30,630,714
At book value without market value adjustment and with current surrender charge of less than 5%		—		488,265		—		—		488,265
Subtotal		—		564,835		—		30,630,714		31,195,549
Not subject to discretionary withdrawal		—		23,701		43,846		—		67,547
Total separate account liabilities at December 31, 2009	$	—	$	588,536	$	43,846	$	30,630,714	$	31,263,096

81

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

	Guaranteed Indexed		Nonindexed Guarantee Less Than or Equal to 4%		Nonindexed Guarantee Greater Than 4%		Nonguaranteed Separate Accounts		Total
Premiums, deposits and other considerations for the year ended December 31, 2008	$	—	$	63,549	$	36,534	$	4,145,459	$	4,245,542
Reserves for separate accounts as of December 31, 2008 with assets at:
Fair value	$	—	$	32,841	$	351,543	$	23,812,058	$	24,196,442
Amortized cost		—		548,144		—		—		548,144
Total as of December 31, 2008	$	—	$	580,985	$	351,543	$	23,812,058	$	24,744,586
Reserves for separate accounts by withdrawal characteristics as of December 31, 2008:
Subject to discretionary withdrawal:
With market value adjustment	$	—	$	61,733	$	—	$	—	$	61,733
At fair value		—		—		—		23,812,058		23,812,058
At book value without market value adjustment and with current surrender charge of less than 5%		—		486,411		—		—		486,411
Subtotal		—		548,144		—		23,812,058		24,360,202
Not subject to discretionary withdrawal		—		32,841		351,543		—		384,384
Total separate account liabilities at December 31, 2008	$	—	$	580,985	$	351,543	$	23,812,058	$	24,744,586

82

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

	Guaranteed Indexed		Nonindexed Guarantee Less Than or Equal to 4%		Nonindexed Guarantee Greater Than 4%		Nonguaranteed Separate Accounts		Total
Premiums, deposits and other considerations for the year ended December 31, 2007	$	—	$	15,567	$	574,226	$	5,685,724	$	6,275,517
Reserves for separate accounts as of December 31, 2007 with assets at:
Fair value	$	997	$	97,270	$	635,878	$	32,768,227	$	33,502,372
Amortized cost		—		521,653		—		—		521,653
Total as of December 31, 2007	$	997	$	618,923	$	635,878	$	32,768,227	$	34,024,025
Reserves for separate accounts by withdrawal characteristics as of December 31, 2007:
Subject to discretionary withdrawal:
With market value adjustment	$	—	$	41,480	$	—	$	—	$	41,480
At fair value		—		—		—		32,723,737		32,723,737
At book value without market value adjustment and with current surrender charge of less than 5%		—		480,173		—		—		480,173
Subtotal		—		521,653		—		32,723,737		33,245,390
Not subject to discretionary withdrawal		997		97,270		635,878		44,490		778,635
Total separate account liabilities at December 31, 2007	$	997	$	618,923	$	635,878	$	32,768,227	$	34,024,025

83

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

A reconciliation of the amounts transferred to and from the Company’s separate accounts is presented below:

	Year Ended December 31
	2009			2008			2007
Transfer as reported in the summary of operations of the separate accounts statement:
Transfers to separate accounts	$	4,414,472		$	4,199,455		$	5,691,829
Transfers from separate accounts		(2,297,193	)		(3,658,761	)		(4,104,822	)
Net transfers to separate accounts		2,117,279			540,694			1,587,007
Miscellaneous reconciling adjustments		(270	)		(11,259	)		(4,523	)
Net transfers as reported in the statement of operations of the life, accident and health annual statement	$	2,117,009		$	529,435		$	1,582,484

A reclassification was made to the amounts previously reported to the Insurance Division, Department of Commerce, State of Iowa in the 2007 Annual Statement, to move $84,389 from net transfers to separate accounts to reserve adjustments on reinsurance ceded within the statement of operations, which also affected the reconciliation of net transfers to or from separate accounts as reflected in the notes to financials. This reclassification had no impact on net income.

Effective December 31, 2009, the Company adopted Actuarial Guideline XLIII (AG 43). AG 43 specifies statutory reserve requirements for variable annuity contracts with guarantees (VACARVM) and related products. It replaces Actuarial Guidelines 34 and 39. The AG 43 reserve calculation includes variable annuity products issued after January 1, 1981. Covered products include variable annuities with and without benefit guarantees. Examples of covered guaranteed benefits include guaranteed minimum accumulation benefits, return of premium death benefits, guaranteed minimum income benefits, guaranteed minimum withdrawal benefits, and guaranteed payout annuity floors. The Aggregate Reserve for contracts falling within the scope of AG 43 is equal to the Conditional Tail Expectation (CTE) Amount, but not less than the Standard Scenario Amount (SSA). The Company reported an increase in reserves and a decrease in net income of $17,571 at December 31, 2009, related to the adoption of AG 43 and changes in the underlying assumptions.

To determine the CTE Amount, the Company used 1,000 of the pre-packaged scenarios developed by the American Academy of Actuaries (AAA) produced in October 2005 and prudent estimate assumptions based on Company experience. The Standard Scenario amount was determined using the assumptions and methodology prescribed in AG 43 for determining the Standard Scenario.

84

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

During 2008, for Variable Annuities with Guaranteed Living Benefits (VAGLB), which includes minimum guaranteed income, minimum guaranteed withdrawal and guaranteed premium accumulation fund benefits, the Company complies with Actuarial Guideline 39. This guideline defines a two step process for the determination of VAGLB reserves. The first step is to establish a reserve equal to the accumulated VAGLB charges for the policies in question. The second step requires a standalone asset adequacy analysis to determine the sufficiency of these reserves. This step has been satisfied by projecting 30 years into the future along 1,000 stochastic variable return paths using a variety of assumptions as to VAGLB charges, lapse, withdrawal, annuitization and death. The results of this analysis are discounted back to the valuation date and compared to the accumulation of fees reserve to determine if an additional reserve needs to be established.

During 2008, for Variable Annuities with Minimum Guaranteed Death Benefits (MGDB), the Company complies with Actuarial Guideline 34. This guideline requires that MGDBs be projected by assuming an immediate drop in the values of the assets supporting the variable annuity contract, followed by a subsequent recovery at a net assumed return until the maturity of the contract. The immediate drop percentages and gross assumed returns vary by asset class and are defined in the guideline. Mortality is based on the 1994 Variable Annuity MGDB Mortality Table, which is also defined in the guideline.

At December 31, 2009 and 2008, the Company had variable and separate account annuities with minimum guaranteed benefits as follows:

Benefit and Type of Risk	Subjected Account Value		Amount of Reserve Held		Reinsurance Reserve Credit
December 31, 2009
Minimum guaranteed death benefit	$	9,406,064	$	1,253,807	$	918,570
Minimum guaranteed income benefit		5,504,688		892,435		830,185
Guaranteed premium accumulation fund		63,644		8,388		—
Minimum guaranteed withdrawal benefit		6,431,653		56,028		40,560
December 31, 2008
Minimum guaranteed death benefit	$	16,439,840	$	2,330,543	$	1,745,559
Minimum guaranteed income benefit		4,834,470		914,995		891,198
Guaranteed premium accumulation fund		59,060		7,972		—
Minimum guaranteed withdrawal benefit		2,608,124		74,296		33,075

85

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

Reserves on the Company’s traditional life insurance products are computed using mean reserving methodologies. These methodologies result in the establishment of assets for the amount of the net valuation premiums that are anticipated to be received between the policy’s paid-through date to the policy’s next anniversary date. At December 31, 2009 and 2008, the gross premium and loading amounts related to these assets (which are reported as premiums deferred and uncollected), are as follows:

	Gross			Loading		Net
December 31, 2009
Life and annuity:
Ordinary first-year business	$	12,260		$	325	$	11,935
Ordinary renewal business		528,884			12,610		516,274
Group life direct business		15,896			2,309		13,587
Credit life business		(12,865	)		—		(12,865	)
Reinsurance ceded		(264,249	)		—		(264,249	)
		279,926			15,244		264,682
Accident and health		15,520			—		15,520
	$	295,446		$	15,244	$	280,202
	Gross			Loading		Net
December 31, 2008
Life and annuity:
Ordinary first-year business	$	12,419		$	245	$	12,174
Ordinary renewal business		456,433			11,370		445,063
Group life direct business		16,298			2,786		13,512
Credit life business		(12,783	)		—		(12,783	)
Reinsurance ceded		(257,749	)		—		(257,749	)
		214,618			14,401		200,217
Accident and health		(32,632	)		—		(32,632	)
	$	181,986		$	14,401	$	167,585

The Company anticipates investment income as a factor in the premium deficiency calculation, in accordance with SSAP No. 54, Individual and Group Accident and Health Contracts. At December 31, 2009 and 2008, the Company had insurance in force aggregating $361,829,973 and $393,200,350, respectively, in which the gross premiums are less than the net premiums required by the valuation standards established by the Insurance Division, Department of Commerce, of the State of Iowa. The Company established policy reserves of $675,762 and $688,913 to cover these deficiencies at December 31, 2009 and 2008, respectively.

86

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

8. Policy and Contract Attributes (continued)

For indeterminate premium products, a full schedule of current and anticipated premium rates is developed at the point of issue. Premium rate adjustments are considered when anticipated future experience foretells deviations from the original profit standards. The source of deviation (mortality, persistency, expense, etc.) is an important consideration in the re-rating decision as well as the potential effect of a rate change on the future experience of the existing block of business.

9. Capital and Surplus

The Company is subject to limitations, imposed by the State of Iowa, on the payment of dividends to its shareholders. Generally, dividends during any twelve-month period may not be paid, without prior regulatory approval, in excess of the greater of (a) 10 percent of the Company’s statutory surplus as of the preceding December 31, or (b) the Company’s statutory gain from operations before net realized capital gains (losses) on investments for the preceding year. Subject to the availability of unassigned surplus at the time of such dividend, the maximum payment which may be made in 2010, without the prior approval of insurance regulatory authorities, is $694,096.

Prior to merging into the Company during 2009, IFLIC was partially owned by unaffiliated participating common shareholders. At December 31, 2008, IFLIC had 3,000 participating common shares authorized and 1,500 shares issued and outstanding. Participating shareholders’ surplus is segregated from unassigned surplus on the balance sheet to disclose the surplus required by mandatory participating voting common stock redemption provisions of the Company bylaws. At December 31, 2008, IFLIC had Participating shareholders’ surplus of $378. Participating common shareholders were redeemed for cash consideration of $421 during 2009 prior to the merger of IFLIC into the Company, resulting in a reduction of common stock and additional paid-in capital of $2 each and a reduction of unassigned surplus of $417.

On December 30, 2009, the Company received a capital contribution of $500,000 from its parent company.

The Company paid a dividend to its parent company of $10,031 in the form of 1,000 shares of stock of TPIC on June 25, 2009.

On December 31, 2008, the Company received a contribution of $9,300 from its parent company in the form of 1,000 shares of TPIC. Prior to the merger of LIICA into the Company, LIICA received a capital contribution from its parent, AEGON of $408,438 on June 2, 2008. On June 3, 2008, LIICA repurchased 504,033 of its Series A preferred shares for $392,000 from AEGON. Net impact to gross paid-in and contributed surplus for the Company was $16,438. The Company received a capital contribution of $481,500 from its parent company, TIHI, on December 30, 2008.

87

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

9. Capital and Surplus (continued)

The Company paid a common stock dividend of $268,580 to its common stock shareholder, TIHI, on December 29, 2008.

The Company paid preferred stock dividends of $18,750 and $12,670 to its preferred stock shareholders, AEGON and Transamerica, respectively, on December 29, 2008. Prior to its merger with the Company, in conjunction with the redemption of its 504,033 shares of its Series A preferred stock, LIICA paid a dividend of $16,438 to its preferred stock shareholder, AEGON, on June 3, 2008.

On September 26, 2007 LIICA paid $400,000 to its parent company, AEGON. This payment consisted of a return of additional paid-in capital of $270,000, an ordinary common stock dividend of $94,400 and an extraordinary dividend of $35,600.

On December 19, 2007, TOLIC paid a $50,627 dividend to its preferred shareholder, Transamerica and a $149,373 dividend to its common shareholder as of that date, Transamerica Service Company.

On December 26, 2006, the Company repurchased its 42,500 shares of non-voting Series A preferred shares for $58,000, which is reflected as treasury stock as of December 31, 2006. On December 19, 2007, the Company repurchased 57,340 shares of its Series B preferred shares for $573,400. The par value of each class of preferred stock is $10 per share and the liquidation value of Series A preferred shares is $1,365 per share and Series B preferred shares is $10 per share. The per share liquidation values shall be adjusted proportionally to reflect any resulting increase or decrease in the number of outstanding shares of preferred stock. Holders of the Series A preferred shares shall be entitled to receive dividends equal to the amount of income generated from a segregated pool of assets, including cash, cash equivalents, mortgages and debt securities and these dividends are cumulative in nature. Holders of the Series B preferred shares shall be entitled to receive dividends equal to the rate of six percent of the issue price of the Series B preferred shares. Holders of both series of preferred stock have no right to cause mandatory or optional redemption of the shares. As of December 31, 2007, cumulative unpaid dividends relating to the preferred shares were $26,477.

The Company paid a preferred stock dividend of $51,600 to its Series B preferred stock shareholder, AEGON, on December 19, 2007. The Company did not pay a common stock dividend to its parent company during 2007.

LIICA received a return of capital on September 26, 2007 in the amount of $37,000 from LIICA Holdings, LLC.

88

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

9. Capital and Surplus (continued)

Life and health insurance companies are subject to certain risk-based capital (RBC) requirements as specified by the NAIC. Under those requirements, the amount of capital and surplus maintained by a life or health insurance company is to be determined based on the various risk factors related to it. At December 31, 2009, the Company meets the minimum RBC requirements.

On September 30, 2002, LIICA received $150,000 from AEGON in exchange for surplus notes. These notes are due 20 years from the date of issuance at an interest rate of 6%, and are subordinate and junior in right of payment to all obligations and liabilities of the Company. In the event of liquidation of the Company, the holders of the issued and outstanding preferred stock shall be entitled to priority only with respect to accumulated but unpaid dividends before the holder of the surplus notes and full payment of the surplus notes shall be made before the holders of common stock become entitled to any distribution of the remaining assets of the Company. The Company received approval from the Insurance Division, Department of Commerce, of the State of Iowa prior to paying quarterly interest payments.

Additional information related to the outstanding surplus notes at December 31, 2009 and 2008 is as follows:

For Year Ending	Balance Outstanding		Interest Paid Current Year		Cumulative Interest Paid		Accrued Interest
2009	$	150,000	$	6,750	$	63,000	$	2,250
2008	$	150,000	$	11,250	$	56,250	$	—

10. Securities Lending

The Company participates in two agent-managed securities lending programs. Under the first program, the Company receives collateral equal to 102% of the fair value of the loaned domestic securities, respectively, as of the transaction date. If the fair value of the collateral is at any time less than 102% of the fair value of the loaned securities, the counterparty is mandated to deliver additional collateral, the fair value of which, together with the collateral already held in connection with the lending transaction, is at least equal to 102% of the fair value of the loaned government or other domestic securities, respectively. In the event the Company loans a foreign security and the denomination of the currency of the collateral is other than the denomination of the currency of the loaned foreign security, the Company receives and maintains collateral equal to 105% of the fair value of the loaned security. Cash received as collateral is reinvested and not available for general corporate purposes.

89

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

10. Securities Lending (continued)

At December 31, 2009 and 2008, respectively, securities in the amount of $827,408 and $1,875,768 were on loan under securities lending agreements as a part of this program. At December 31, 2009, the collateral the Company received from securities lending activities was in the form of cash and on open terms. Also at December 31, 2009, cash collateral reinvested had a fair value of $836,089. At December 31, 2009, Separate Accounts have securities in the amount of $3,199 on loan under these security lending agreements.

Under the second program, the Company received collateral equal to 102% or 105% of the fair value of the loaned securities as of the transaction date for domestic or international securities, respectively. The counterparty was mandated to deliver additional collateral if the fair value of the collateral is at any time less than 100% of the fair value of the loaned securities. This additional collateral, along with the collateral already held in connection with the lending transaction, must then be at least equal to 102% or 105% of the fair value of the loaned domestic or international securities, respectively.

The second program matured in January 2009 so the Company had no securities on loan under this program at December 31, 2009. At December 31, 2008, the Company had loaned securities with a book value of $55,475 under the second program. The fair value of the loaned securities was $56,956 as of December 31, 2008. Liabilities are recorded with respect to the cash collateral received in connection with the securities on loan when it is available for the general use of the Company. Liabilities were recorded in the amount of $54,033 and the fair value of the reinvested collateral was $58,790 as of December 31, 2008.

11. Retirement and Compensation Plans

The Company’s employees participate in a qualified defined benefit pension plan sponsored by AEGON. The Company has no legal obligation for the plan. The Company recognizes pension expense equal to its allocation from AEGON. The pension expense is allocated among the participating companies based on International Accounting Standards 19 (IAS 19), Accounting for Employee Benefits as a percent of salaries. The benefits are based on years of service and the employee’s compensation during the highest five consecutive years of employment. Pension expense aggregated $17,949, $16,434 and $14,347 for the years ended December 31, 2009, 2008 and 2007, respectively. The plan is subject to the reporting and disclosure requirements of the Employee Retirement Income Security Act of 1974.

90

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

11. Retirement and Compensation Plans (continued)

The Company’s employees also participate in a defined contribution plan sponsored by AEGON which is qualified under Section 401(k) of the Internal Revenue Service Code. Employees of the Company who customarily work at least 1,000 hours during each calendar year and meet the other eligibility requirements are participants of the plan. Participants may elect to contribute up to twenty-five percent of their salary to the plan. The Company will match an amount up to three percent of the participant’s salary. Participants may direct all of their contributions and plan balances to be invested in a variety of investment options. The plan is subject to the reporting and disclosure requirements of the Employee Retirement and Income Security Act of 1974. Expense related to this plan was $9,654, $9,795 and $8,791, for the years ended December 31, 2009, 2008 and 2007, respectively.

AEGON sponsors supplemental retirement plans to provide the Company’s senior management with benefits in excess of normal pension benefits. The plans are noncontributory, and benefits are based on years of service and the employee’s compensation level. The plans are unfunded and nonqualified under the Internal Revenue Service Code. In addition, AEGON has established incentive deferred compensation plans for certain key employees of the Company. The Company’s allocation of expense for these plans for each of the years ended December 31, 2009, 2008 and 2007 was negligible. AEGON also sponsors an employee stock option plan/stock appreciation rights for individuals employed and a stock purchase plan for its producers, with the participating affiliated companies establishing their own eligibility criteria, producer contribution limits and company matching formula. These plans have been accrued or funded as deemed appropriate by management of AEGON and the Company.

In addition to pension benefits, the Company participates in plans sponsored by AEGON that provide postretirement medical, dental and life insurance benefits to employees meeting certain eligibility requirements. Portions of the medical and dental plans are contributory. The expenses of the postretirement plans, calculated on the pay-as-you-go basis, are charged to affiliates in accordance with an intercompany cost sharing arrangement. The Company expensed $4,254, $1,382 and $1,204 related to these plans for the years ended December 31, 2009, 2008 and 2007, respectively.

91

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

12. Related Party Transactions

The Company shares certain offices, employees and general expenses with affiliated companies.

The Company is party to a common cost allocation service agreement between AEGON companies, in which various affiliated companies may perform specified administrative functions in connection with the operation of the Company, in consideration of reimbursement of actual costs of services rendered. The Company is also a party to a Management and Administrative and Advisory agreement with AEGON USA Realty Advisors, Inc. whereby the advisor serves as the administrator and advisor for the Company’s mortgage loan operations. AEGON USA Investment Management, LLC acts as a discretionary investment manager under an Investment Management Agreement with the Company. The Company received $32,580 and $19,737 during 2009 and 2008, respectively, and paid $18,688 in 2007, for these services, which approximates their costs to the affiliates. The Company has an administration service agreement with Transamerica Asset Management, Inc. to provide administrative services to the AEGON/Transamerica Series Trust. The Company received $40,040, $44,122 and $49,346 for these services during 2009, 2008 and 2007, respectively.

Transamerica Capital, Inc. provides wholesaling distribution services for the Company under a distribution agreement. The Company incurred expenses under this agreement of $73,721, $74,156 and $44,791 for the years ended December 31, 2009, 2008 and 2007, respectively.

At December 31, 2009 and 2008, respectively, the Company reported a net amount of payables to affiliates of $82,670 and $27,385. Terms of settlement require that these amounts be settled within 90 days. Receivables from and payables to affiliates bear interest at the thirty-day commercial paper rate.

92

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

12. Related Party Transactions (continued)

At December 31, 2009, the Company had short-term notes receivable of $880,200 as follows. In accordance with SSAP No. 25, Accounting for and Disclosures about Transactions with Affiliates and Other Related Parties, these notes are reported as short-term investments.

Receivable from	Amount		Due By	Interest Rate
AEGON	$	6,600	June 1, 2010	0.30	%
AEGON		14,000	June 2, 2010	0.30
AEGON		17,700	June 15, 2010	0.30
AEGON		6,700	June 19, 2010	0.30
AEGON		39,200	June 24, 2010	0.30
AEGON		20,900	June 25, 2010	0.30
AEGON		67,600	June 26, 2010	0.30
AEGON		7,900	July 2, 2010	0.32
Transamerica Corporation		123,800	July 24, 2010	0.32
AEGON		11,700	July 27, 2010	0.32
AEGON		17,500	July 28, 2010	0.32
AEGON		89,700	July 29, 2010	0.32
AEGON		30,800	July 30, 2010	0.32
AEGON		26,100	October 29, 2010	0.22
AEGON		330,000	December 11, 2010	0.20
AEGON		70,000	December 15, 2010	0.20

93

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

12. Related Party Transactions (continued)

At December 31, 2008, the Company had short-term intercompany notes receivable of $1,929,883 as follows. All of these notes were repaid prior to their due date.

Receivable from	Amount		Due By	Interest Rate
Garnet	$	59,583	January 16, 2009	1.74	%
Transamerica Corporation		293,800	August 21, 2009	2.44
AEGON		79,000	October 7, 2009	5.95
AEGON		166,000	October 8, 2009	5.95
AEGON		159,600	October 9, 2009	5.95
AEGON		69,800	October 15, 2009	5.95
AEGON		20,000	October 20, 2009	5.95
AEGON		9,100	October 21, 2009	5.95
AEGON		36,900	October 22, 2009	5.95
AEGON		19,500	October 23, 2009	5.95
AEGON		41,200	October 27, 2009	5.95
AEGON		55,100	October 28, 2009	5.95
AEGON		52,200	October 31, 2009	5.95
Transamerica Corporation		55,000	November 20, 2009	2.70
AEGON		89,800	December 15, 2009	1.74
AEGON		28,200	December 16, 2009	1.74
AEGON		38,800	December 17, 2009	1.74
AEGON		45,900	December 24, 2009	1.74
AEGON		63,300	December 26, 2009	1.74
AEGON		547,100	December 30, 2009	1.74

During 2009, 2008 and 2007, the Company (received) paid net interest of $(1,193), $3,223 and $2,394, respectively, to affiliates.

During 1998, the Company issued life insurance policies to two affiliated companies, covering the lives of certain employees of those affiliates. Aggregate reserves for policies and contracts related to these policies are $138,726 and $134,823 at December 31, 2009 and 2008, respectively.

In prior years, the Company purchased life insurance policies covering the lives of certain employees of the Company from an affiliate. At December 31, 2009 and 2008, the cash surrender value of these policies was $143,644 and $139,263, respectively.

94

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

13. Commitments and Contingencies

At December 31, 2009 and 2008, the Company has mortgage loan commitments of $211,491 and $190,231, respectively. The Company has contingent commitments for $686,426 and $768,083 as of December 31, 2009 and 2008, respectively, to provide additional funding for various joint ventures, partnerships, and limited liability companies, which includes LIHTC commitments of $45,413 and $13,387, respectively.

At December 31, 2009, the Company has private placement commitments outstanding of $18,000. The Company had no private placement commitments outstanding at December 31, 2008.

At December 31, 2009, the net amount of securities being acquired (sold) on a “to be announced” (TBA) basis was $5,049. The Company had no securities being acquired (sold) on a “to be announced” (TBA) basis at December 31, 2008.

The Company pledged assets as collateral for derivative transactions in the amount of $366,806 and $753,973 at December 31, 2009 and 2008, respectively. In conjunction with derivative transactions, cash in the amount of $215,045 and $1,263,351 and securities in the amount of $259 and $577,838 were posted to the Company as of December 31, 2009 and 2008, respectively, which were not included in the financial statements of the Company. A portion of the cash posted to the Company was reposted as collateral by the Company in the amount of $13,309 as of December 31, 2009. No amount was reposted as collateral as of December 31, 2008.

The Company may pledge assets as collateral for transactions involving funding agreements. At December 31, 2009 and 2008, the Company has pledged invested assets with a carrying amount of $243,127 and $277,412, respectively, and fair value of $244,838 and $252,447, respectively, in conjunction with these transactions.

The Company had outstanding funding agreements totaling $5,450,716 and $5,453,131 at December 31, 2009 and 2008, respectively, to the Federal Home Loan Bank (FHLB), and the funds received are reported as deposit-type liabilities per SSAP 52, Deposit-Type Contracts. Total reserves are equal to the funding agreements balance. These funding agreements are used for investment spread management purposes and are subject to the same asset/liability management practices as other deposit-type business. All of the funding agreements issued to FHLB are classified in the general account as it is a general obligation of the Company. Collateral is required by FHLB to support repayment of the funding agreements. The amount of pledged collateral at December 31, 2009 and 2008 was $6,922,409 and $6,275,565, respectively. In addition, FHLB requires their common stock to be purchased. The Company owns $252,525 of FHLB common stock at December 31, 2009 and 2008. The FHLB has set funding capacity limits on the Company which are significantly higher than the current funding agreement level; however, the FHLB is under no obligation to extend additional capacity.

95

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

13. Commitments and Contingencies (continued)

The Company has issued synthetic GIC contracts to benefit plan sponsors on assets totaling $4,201,338 and $4,379,983 as of December 31, 2009 and 2008, respectively. A synthetic GIC is an off-balance sheet fee-based product sold primarily to tax qualified plans. The plan sponsor retains ownership and control of the related plan assets. The Company provides book value benefit responsiveness in the event that qualified plan benefit requests exceed plan cash flows. In certain contracts, the Company agrees to make advances to meet benefit payment needs and earns a market interest rate on these advances. The periodically adjusted contract-crediting rate is the means by which investment and benefit responsive experience is passed through to participants. In return for the book value benefit responsive guarantee, the Company receives a premium that varies based on such elements as benefit responsive exposure and contract size. The Company underwrites the plans for the possibility of having to make benefit payments and also must agree to the investment guidelines to ensure appropriate credit quality and cash flow. A contract reserve has been established for the possibility of unexpected benefit payments at below market interest rates of $3,000 and $44,753 at December 31, 2009 and 2008, respectively.

The Company has guaranteed that TFLIC, an affiliate, will maintain capital and surplus amounts in excess of the statutory minimum requirements of $3,000. At December 31, 2009, TFLIC had capital and surplus of $911,627. The Company has recorded no liability for this guarantee.

The Company has provided a guarantee for the performance of an affiliated noninsurance entity that was involved in guaranteed sales of investments in LIHTC partnerships. These partnerships are partially or majority owned by a noninsurance subsidiary of the Company for which a third party is the primary investor. The balance of the investor’s capital account covered by this transaction is $258,591 as of December 31, 2009. The nature of the obligation is to provide the investor with a minimum guaranteed annual and cumulative return on their contributed capital. The Company is not at risk for changes in tax law or the investor’s inability to fully utilize tax benefits. Accordingly, the Company believes the likelihood of having to make material payments under the guarantee is remote.

As of December 31, 2009, the Company had entered into a credit enhancement and a standby liquidity asset purchase agreement on a municipal variable rate demand note facility with commitment amounts of $1,105 for which it was paid a fee. Earlier in the year, prior to a change in the remarketing agent, this agreement was drawn upon and repaid during 2009. The Company does not believe there will be an additional draw under this agreement. However, if there were, any such draws would be purchases of municipal bonds, which would be repaid with interest.

96

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

13. Commitments and Contingencies (continued)

At December 31, 2009 and 2008, the Company had entered into multiple agreements with commitment amounts of $142,425 and $123,075, respectively, for which it was paid a fee to provide credit enhancement and standby liquidity asset purchase agreements on municipal variable rate demand note facilities. A draw was made under one of these liquidity facilities in January 2008 for approximately $1,900, which will be repaid in full with interest. The Company believes the chance of additional draws under these agreements is minimal. Any advances that would be made under these agreements would be repaid with interest.

The Company serves as guarantor for an affiliate’s guaranties of the principal value of loans made to entities which invest in certain investment funds. There was no notional amount associated with these guarantees as of December 31, 2009. The investment funds’ assets are restricted based on established investment guidelines and are required, upon a decline in value below a formula based threshold, to either replace the assets with fixed income instruments or sell assets and pay down the loan in order to minimize the guarantor’s principal protection liability. There are no expected payments associated with these guarantees.

The Company has also provided a guarantee for the obligations of noninsurance affiliates who have accepted assignments of structured settlement payment obligations from other insurers and purchase structured settlement insurance policies from subsidiaries of the Company that match those obligations. There are no expected payments associated with this guarantee.

The Company is a party to legal proceedings involving a variety of issues incidental to its business, including class actions. Lawsuits may be brought in nearly any federal or state court in the United States or in an arbitral forum. In addition, there continues to be significant federal and state regulatory activity relating to financial services companies. The Company’s legal proceedings are subject to many variables, and given its complexity and scope, outcomes cannot be predicted with certainty. Although legal proceedings sometimes include substantial demands for compensatory and punitive damages, and injunctive relief, it is management’s opinion that damages arising from such demands will not be material to the Company’s financial position.

97

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

13. Commitments and Contingencies (continued)

The Company is subject to insurance guaranty laws in the states in which it writes business. These laws provide for assessments against insurance companies for the benefit of policyholders and claimants in the event of insolvency of other insurance companies. Assessments are charged to operations when received by the Company, except where right of offset against other taxes paid is allowed by law. Amounts available for future offsets are recorded as an asset on the Company’s balance sheet. The future obligation for known insolvencies has been accrued based on the most recent information available from the National Organization of Life and Health Insurance Guaranty Associations. Potential future obligations for unknown insolvencies are not determinable by the Company and are not required to be accrued for financial reporting purposes. The Company has established a reserve of $34,814 and $28,404 at December 31, 2009 and 2008, respectively, for its estimated share of future guaranty fund assessments related to several major insurer insolvencies. The guaranty fund expense was $460, $1,720 and $1,645, for the years ended December 31, 2009, 2008 and 2007, respectively.

14. Leases

The Company leases office buildings under various noncancelable operating lease agreements. At December 31, 2009, the future minimum aggregate rental commitments are as follows:

Year	Amount
2010	$	15,175
2011		14,190
2012		12,357
2013		11,704
2014		11,716

The Company, both on its own and through its holdings in Transamerica Realty Investment Properties, LLC, and Transamerica Pyramid Properties, LLC and REAP 4MR, LLC, owns buildings that are rented out to others. Future minimum lease payment receivables under noncancelable leasing arrangements as of December 31, 2009 are as follows:

Year	Amount
2010	$	40,511
2011		30,779
2012		22,533
2013		19,153
2014		6,822

98

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

15. Sales, Transfer, and Servicing of Financial Assets and Extinguishments of Liabilities

The Company has recorded liabilities of $632,109 and $365,846 for municipal reverse repurchase agreements as of December 31, 2009 and 2008, respectively. The reverse repurchase agreements are collateralized by securities with book values of $637,109 and $411,595 as of December 31, 2009 and 2008, respectively. These securities have maturity dates that range from 2010 to 2097 and have a weighted average interest rate of 6.24%.

At December 31, 2009 and 2008, the Company did not participate in dollar reverse repurchase agreements. The Company has no outstanding liability for borrowed money due to participation in dollar reverse repurchase agreements at December 31, 2009 or 2008.

In the course of the Company’s asset management, securities are sold and reacquired within 30 days of the sale date to enhance the Company’s yield on its investment portfolio. The details by NAIC designation 3 or below of securities sold during 2009 and reacquired within 30 days of the sale date are:

	Number of Transactions	Book Value of Securities Sold	Cost of Securities Repurchased	Gain/(Loss)
Bonds:
NAIC 4	1	976	1,540	744
NAIC 6	1	64	64	(31	)

16. Reconciliation to Statutory Statement

The 2008 Annual Statement did not include the appropriate tax effect on the mark to market income on a derivative as of December 31, 2008. This item was adjusted for in the 2008 financial statements, as discussed further below, and was corrected through federal income tax expense in the 2009 Annual Statement. There were no reconciling items at December 31, 2007 or for the year then ended. The reconciling items as of December 31, 2009 are as follows:

	December 31, 2009
Statement of Operations:
Statutory net loss as reported in the Company’s Annual Statement of Operations:	$	(99,471	)
Increase federal income tax benefit		93,046
Total statutory net loss per financial statements	$	(6,425	)

99

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

16. Reconciliation to Statutory Statement (continued)

The following is a reconciliation of amounts previously reported to the Insurance Division, Department of Commerce, of the State of Iowa in the 2008 Annual Statement, to those reported in the accompanying statutory-basis financial statements:

	December 31, 2008
Balance Sheet:
Assets as reported in the Company’s Annual Statement	$	103,871,552
Reduce current federal income tax recoverable		(93,046	)
Increase admissible deferred income tax asset		4,647
Restatement to reflect IFLIC merger		1,802
Effect of change in presentation of derivatives		225,884
Assets as reported in the accompanying audited statutory-basis balance sheet	$	104,010,839
Liabilities as reported in the Company’s Annual Statement	$	98,944,678
Adjust current federal income tax payable		—
Restatement to reflect IFLIC merger		143
Effect of change in presentation of derivatives		225,884
Liabilities as reported in the accompanying audited statutory-basis balance sheet	$	99,170,705
Capital and surplus as reported in the Company’s Annual Statement	$	4,926,874
Reduce federal income tax benefit		(93,046	)
Increase admissible deferred income tax asset		4,647
Restatement to reflect IFLIC merger		1,659
Total capital and surplus as reported in the accompanying audited statutory-basis balance sheet	$	4,840,134
Statement of Operations:
Statutory net loss as reported in the Company’s Annual Statement of Operations:	$	(528,468	)
Reduce federal income tax benefit		(93,046	)
Restatement to reflect IFLIC merger		96
Total statutory net income (loss) per financial statements	$	(621,418	)

100

Transamerica Life Insurance Company

Notes to Financial Statements – Statutory Basis—(Continued)

(Dollars in Thousands, Except per Share amounts)

17. Subsequent Events

The financial statements are adjusted to reflect events that occurred between the balance sheet date and the date when the financial statements are available to be issued, April 19, 2010, provided they give evidence of conditions that existed at the balance sheet date (Type I). Events that are indicative of conditions that arose after the balance sheet date are disclosed, but do not result in an adjustment of the financial statements themselves (Type II).

The Company has a direct investment in and an indirect exposure to Ambac Financial Group (Ambac) as of the balance sheet date. Subsequent to year end, the Office of the Commissioner of Insurance of the State of Wisconsin (OCI) filed a petition in state court to rehabilitate the Segregated Account of Ambac Assurance Corporation (AAC), a subsidiary of Ambac, which was established upon request from OCI in order to segregate certain policies and other liabilities of AAC as there were significant existing claims or likelihood of significant claims. OCI received court approval to temporarily prevent AAC from paying out claims on the guarantees or wraps that they have issued for those securities included in the segregated account. The Company has indirect exposure to Ambac whereby the Company is reliant upon AAC’s guarantee or wrap to support the lack of impairment on securities with a carrying value of $33,885. Additionally, the Company has a direct investment in debt securities of Ambac with a carrying value of $2,046. As a significant portion of the indirect exposure and all of the direct exposure to Ambac is carried at the lower of cost or market in the Company’s 2009 financial statements, there would be no additional impact to the Company’s surplus as a result of this information.

101

Transamerica Life Insurance Company

Summary of Investments – Other Than

Investments in Related Parties

(Dollars in Thousands)

December 31, 2009

SCHEDULE I

Type of Investment	Cost (1)		Market Value		Amount at Which Shown in the Balance Sheet
Fixed maturities
Bonds:
United States government and government agencies and authorities	$	2,636,579	$	2,612,630	$	2,636,579
States, municipalities and political subdivisions		1,346,519		1,391,227		1,346,519
Foreign governments		733,391		740,331		733,391
Hybrid securities		1,777,764		1,470,840		1,777,764
All other corporate bonds		40,541,210		39,171,742		40,541,210
Preferred stocks		152,661		144,696		152,661
Total fixed maturities		47,188,124		45,531,466		47,188,124
Equity securities
Common stocks:
Industrial, miscellaneous and all other		360,043		389,485		389,485
Total equity securities		360,043		389,485		389,485
Mortgage loans on real estate		9,275,690				9,275,690
Real estate		125,806				125,806
Policy loans		759,957				759,957
Other long-term investments		1,355,386				1,355,386
Cash, cash equivalents and short-term investments		3,032,109				3,032,109
Total investments	$	62,097,115			$	62,126,557

(1) Original cost of equity securities and, as to fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts.

102

Transamerica Life Insurance Company

Supplementary Insurance Information

(Dollars in Thousands)

SCHEDULE III

	Future Policy Benefits and Expenses		Unearned Premiums		Policy and Contract Liabilities		Premium Revenue		Net Investment Income*		Benefits, Claims Losses and Settlement Expenses		Other Operating Expenses*
Year ended December 31, 2009
Individual life	$	13,898,182	$	—	$	273,389	$	1,286,997	$	900,907	$	1,408,720	$	986,135
Individual health		2,801,188		116,341		121,468		470,438		179,158		411,103		158,964
Group life and health		1,409,957		16,322		103,431		344,829		92,181		270,852		135,934
Annuity		19,080,480		—		22,049		5,997,868		1,900,911		1,404,938		6,767,121
	$	37,189,807	$	132,663	$	520,337	$	8,100,132	$	3,073,157	$	3,495,613	$	8,048,154
Year ended December 31, 2008
Individual life	$	14,091,494	$	—	$	235,075	$	1,945,171	$	1,004,973	$	1,663,836	$	4,643,176
Individual health		2,663,242		133,885		125,768		501,797		189,285		425,938		183,199
Group life and health		1,416,556		17,766		108,339		370,647		102,526		300,950		178,562
Annuity		23,412,004		—		15,183		4,700,329		2,590,142		5,947,854		9,408,003
	$	41,583,296	$	151,651	$	484,365	$	7,517,944	$	3,886,926	$	8,338,578	$	14,412,940
Year ended December 31, 2007
Individual life	$	14,160,394	$	—	$	291,994	$	1,784,034	$	974,483	$	1,713,927	$	3,010,919
Individual health		2,515,584		173,741		98,016		515,955		168,358		514,059		229,497
Group life and health		1,411,134		17,552		126,828		378,440		95,968		341,496		229,673
Annuity		26,856,767		—		13,440		5,598,533		2,973,662		7,349,370		1,825,963
	$	44,943,879	$	191,293	$	530,278	$	8,276,962	$	4,212,471	$	9,918,852	$	5,296,052

* Allocations of net investment income and other operating expenses are based on a number of assumptions and estimates, and the results would change if different methods were applied.

103

Transamerica Life Insurance Company

Reinsurance

(Dollars in Thousands)

SCHEDULE IV

	Gross Amount		Ceded to Other Companies		Assumed From Other Companies		Net Amount		Percentage of Amount Assumed to Net
Year ended December 31, 2009
Life insurance in force	$	450,746,436	$	908,732,362	$	677,546,211	$	219,560,285	309	%
Premiums:
Individual life		2,466,652		2,799,049		1,619,394		1,286,997	126	%
Individual health		540,470		189,419		119,387		470,438	25	%
Group life and health		389,911		74,823		29,741		344,829	9	%
Annuity		9,312,898		3,355,296		40,266		5,997,868	1	%
	$	12,709,931	$	6,418,587	$	1,808,788	$	8,100,132	22	%
Year ended December 31, 2008
Life insurance in force	$	443,518,542	$	837,623,161	$	634,973,061	$	240,868,442	264	%
Premiums:
Individual life	$	2,471,167	$	2,071,576	$	1,545,580	$	1,945,171	79	%
Individual health		573,587		205,331		133,541		501,797	27	%
Group life and health		422,904		83,809		31,552		370,647	9	%
Annuity		9,841,785		5,242,316		100,860		4,700,329	2	%
	$	13,309,443	$	7,603,032	$	1,811,533	$	7,517,944	24	%
Year ended December 31, 2007
Life insurance in force	$	462,923,158	$	743,762,690	$	569,434,627	$	288,595,095	197	%
Premiums:
Individual life	$	3,996,462	$	3,597,084	$	1,384,656	$	1,784,034	78	%
Individual health		592,260		215,035		138,730		515,955	27	%
Group life and health		456,124		142,726		65,042		378,440	17	%
Annuity		6,432,725		1,241,063		406,871		5,598,533	7	%
	$	11,477,571	$	5,195,908	$	1,995,299	$	8,276,962	24	%

104

FINANCIAL STATEMENTS

Transamerica Life Insurance Company Separate

Account VA B

Year Ended December 31, 2009

Transamerica Life Insurance Company Separate

Account VA B

Financial Statements

Year Ended December 31, 2009

Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities	2
Statements of Operations	203
Statements of Changes in Net Assets	226
Notes to Financial Statements	267

Report of Independent Registered Public Accounting Firm

The Board of Directors and Contract Owners

of Transamerica Life Insurance Company Separate Account VA B,

Transamerica Life Insurance Company

We have audited the accompanying statements of assets and liabilities of the subaccounts of Transamerica Life Insurance Company Separate Account VA B (comprised of the Transamerica Asset Allocation – Growth VP, Transamerica Asset Allocation – Conservative VP, Transamerica Asset Allocation – Moderate VP, Transamerica Asset Allocation – Moderate Growth VP, Transamerica Equity VP, Transamerica American Century Large Company Value VP, Transamerica MFS International Equity VP, Transamerica Science & Technology VP, Transamerica Clarion Global Real Estate Securities VP, Transamerica Templeton Global VP, Transamerica Balanced VP, Transamerica Jennison Growth VP, Transamerica JPMorgan Enhanced Index VP, Transamerica Marsico Growth VP, Transamerica AEGON High Yield Bond VP, Transamerica Growth Opportunities VP, Transamerica BlackRock Large Cap Value VP, Transamerica PIMCO Total Return VP, Transamerica Focus VP, Transamerica Convertible Securities VP, Transamerica U.S. Government Securities VP, Transamerica U.S. Government Securities VP – PAM Fund – SC, Transamerica T. Rowe Price Equity Income VP, Transamerica T. Rowe Price Growth Stock VP, Transamerica T. Rowe Price Small Cap VP, Transamerica Van Kampen Active International Allocation VP, Transamerica Van Kampen Large Cap Core VP, Transamerica Money Market VP, Transamerica Van Kampen Mid-Cap Growth VP, Transamerica International Moderate Growth VP – SC, Transamerica Small/Mid Cap Value VP, Transamerica Index 50 VP – SC, Transamerica Index 75 VP – SC, Transamerica Value Balanced VP – SC, Transamerica Efficient Markets VP – SC, Transamerica BlackRock Global Allocation VP – SC, Transamerica BlackRock Tactical Allocation VP – SC, Transamerica ProFunds UltraBear VP – SC OAM, Transamerica Foxhall Global Growth VP – SC, Transamerica Foxhall Global Conservative VP – SC, Transamerica Foxhall Global Hard Asset VP – SC, Transamerica Foxhall Emerging Markets/Pacific Rim VP – SC, Transamerica Hanlon Growth VP – SC, Transamerica Hanlon Growth and Income VP-SC, Transamerica Hanlon Balanced VP – SC, Transamerica Hanlon Managed Income VP – SC, Transamerica Index 35 VP – SC, Transamerica Index 100 VP – SC, Transamerica JPMorgan Mid Cap Value VP – SC, AIM V.I. Basic Value, AIM V.I. Capital Appreciation, AllianceBernstein Growth & Income, AllianceBernstein Large Cap Growth, AllianceBernstein Balanced Wealth Strategy, Janus Aspen-Mid Cap Growth, Janus Aspen-Mid Cap Value, Janus Aspen-Worldwide Growth ,MFS New Discovery, MFS Total Return, Fidelity-VIP Contrafund^®, Fidelity-VIP Equity-Income, Fidelity-VIP Growth, Fidelity-VIP Growth Opportunities, Fidelity-VIP Mid Cap, Fidelity-VIP Value Strategies, Fidelity-VIP Balanced, Franklin Income Securities, Mutual Shares Securities, Templeton Foreign Securities, Franklin Templeton Founding Funds Allocation, American Funds – Asset Allocation, Fund, American Funds – Bond Fund, American Funds – Growth Fund, American Funds – Growth-Income Fund, American Funds – International Fund, GE Investments Total Return Fund, MTB Managed Allocation Fund-Moderate Growth II, BlackRock Basic Value V.I., BlackRock High Income V.I., BlackRock Global Allocation V.I., Huntington VA Dividend Capture, Huntington VA Growth, Huntington VA Income Equity, Huntington VA International Equity, Huntington VA Macro 100, Huntington VA Mid Corp America, Huntington VA Mortgage Securities, Huntington VA New Economy, Huntington VA Real Strategies, Huntington VA Rotating Markets, Huntington VA Situs, and Huntington VA Balanced Allocation subaccounts), as of December 31, 2009, and the related statements of operations and changes in net assets for the periods indicated thereon. These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Separate Account’s internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Separate Account’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also 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. Our procedures included confirmation of securities owned as of December 31, 2009 by correspondence with the mutual funds’ transfer agents. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of each of the respective subaccounts of Transamerica Life Insurance Company Separate Account VA B at December 31, 2009, and the results of their operations and changes in their net assets for the periods indicated thereon, in conformity with U.S. generally accepted accounting principles.

Des Moines, Iowa

April 23, 2010

1

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation -  Growth VP Subaccount		Transamerica Asset Allocation  - Conservative VP Subaccount		Transamerica Asset Allocation -  Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth  VP Subaccount
Assets
Investment in securities:
Number of shares - Initial		36,373,446.651		26,959,412.732		56,350,773.677		65,296,842.805
Cost	$	387,204,438	$	266,700,575	$	626,388,736	$	762,960,725
Number of shares - Service		10,171,779.845		30,556,725.090		65,189,809.390		109,715,323.588
Cost	$	101,926,293	$	300,181,234	$	707,165,146	$	1,246,461,278
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	356,027,846	$	561,519,180	$	1,182,888,210	$	1,671,992,540
Receivable for units sold		73		114		441		—
Total assets		356,027,919		561,519,294		1,182,888,651		1,671,992,540
Liabilities
Payable for units redeemed		—		—		—		627
	$	356,027,919	$	561,519,294	$	1,182,888,651	$	1,671,991,913
Net Assets:
Deferred annuity contracts terminable by owners	$	356,027,919	$	561,519,294	$	1,182,888,651	$	1,671,991,913
Total net assets	$	356,027,919	$	561,519,294	$	1,182,888,651	$	1,671,991,913

See accompanying notes.

2

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation -  Growth VP Subaccount	Transamerica Asset Allocation  - Conservative VP Subaccount	Transamerica Asset Allocation -  Moderate VP Subaccount	Transamerica Asset Allocation - Moderate Growth VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	6,537,539.0086	7,543,940.5353	12,727,172.3760	14,986,491.0468
M&E - 1.25% - Landmark ML	1,655,466.9612	512,429.5174	2,157,194.8658	2,237,224.0152
M&E - 1.25% - Freedom	86,447.3477	287,379.5429	88,838.7456	25,322.9401
M&E - 1.30% - Landmark	32,904,624.6672	33,285,129.7416	60,752,838.2461	61,833,926.9684
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	992,684.4909	1,488,307.8153	6,166,576.5157	2,695,850.0344
M&E - 1.40% - Landmark	4,244,659.1410	4,562,527.2497	7,457,633.7617	7,060,340.1410
M&E - 1.40% - Landmark ML	4,956,584.7936	2,501,460.9621	3,853,227.6271	5,078,719.4655
M&E - 1.40% - Freedom	2,550,747.3106	1,616,126.0621	2,434,412.6807	3,843,014.8941
M&E - 1.50% - Landmark	27,195,429.6386	20,802,165.0287	45,388,294.1553	56,910,835.8925
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	6,853,529.0608	6,925,793.4971	9,984,457.5283	13,903,826.3977
M&E - 1.50% - Freedom	1,388,714.7477	2,583,202.1972	4,147,991.8618	2,473,368.6048
M&E - 1.55% - Landmark	123,847,691.7819	99,394,711.1084	222,083,583.3134	274,301,230.2021
M&E - 1.55% - Landmark ML	12,561,671.4857	15,040,899.4085	29,577,667.1044	28,468,057.6448
M&E - 1.65% - Freedom	9,019,004.9583	4,092,210.8179	11,363,556.4251	20,793,678.6917
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

3

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation  - Growth VP Subaccount	Transamerica Asset Allocation  - Conservative VP Subaccount	Transamerica Asset Allocation  - Moderate VP Subaccount	Transamerica Asset Allocation - Moderate Growth VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

4

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation  - Growth VP Subaccount		Transamerica Asset Allocation  - Conservative VP Subaccount		Transamerica Asset Allocation  - Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.209469	$	1.341624	$	1.341335	$	1.293468
M&E - 1.25% - Landmark ML	$	1.209469	$	1.341624	$	1.341335	$	1.293468
M&E - 1.25% - Freedom	$	0.773706	$	0.983355	$	0.939452	$	0.858024
M&E - 1.30% - Landmark	$	1.204883	$	1.336542	$	1.336224	$	1.288538
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.204883	$	1.336542	$	1.336224	$	1.288538
M&E - 1.40% - Landmark	$	1.195798	$	1.326496	$	1.326130	$	1.278814
M&E - 1.40% - Landmark ML	$	1.195798	$	1.326496	$	1.326130	$	1.278814
M&E - 1.40% - Freedom	$	1.131050	$	1.208404	$	1.222500	$	1.195513
M&E - 1.50% - Landmark	$	1.186779	$	1.316426	$	1.316161	$	1.269176
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.186779	$	1.316426	$	1.316161	$	1.269176
M&E - 1.50% - Freedom	$	1.186779	$	1.316426	$	1.316161	$	1.269176
M&E - 1.55% - Landmark	$	1.182285	$	1.311504	$	1.311197	$	1.264418
M&E - 1.55% - Landmark ML	$	1.182285	$	1.311504	$	1.311197	$	1.264418
M&E - 1.65% - Freedom	$	1.173414	$	1.301645	$	1.301334	$	1.254864
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.160190	$	1.286970	$	1.286654	$	1.240775
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.160190	$	1.286970	$	1.286654	$	1.240775

See accompanying notes.

5

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation  - Growth VP Subaccount		Transamerica Asset Allocation  - Conservative VP Subaccount		Transamerica Asset Allocation  - Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth  VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.138575	$	1.262981	$	1.262698	$	1.217615
M&E - 2.05% - Landmark ML	$	1.138575	$	1.262981	$	1.262698	$	1.217615
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

6

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation -  Growth VP Subaccount	Transamerica Asset Allocation  - Conservative VP Subaccount	Transamerica Asset Allocation -  Moderate VP Subaccount	Transamerica Asset Allocation - Moderate Growth VP Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	21,461,416.2240	99,705,440.1358	208,668,404.8570	352,560,016.0803
M&E - 1.30% - Suntrust Landmark	1,963,066.2390	2,490,601.1255	10,806,221.8570	12,163,860.9746
M&E - 1.30% - Landmark Select	712,858.8599	3,007,579.8580	13,924,773.6317	21,946,484.1451
M&E - 1.30% - Huntington Landmark	227,478.8997	3,004,713.4009	7,507,740.5236	8,939,688.5291
M&E - 1.30% - Landmark ML	3,285,472.6882	12,315,637.8378	24,929,817.1469	42,233,699.2001
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	10,049,927.6790	17,532,004.5926	43,068,050.0383	93,880,346.6450
M&E - 1.50% - Suntrust Landmark	270,959.9334	612,942.7723	3,362,014.5962	3,552,804.9696
M&E - 1.50% - Landmark Select	227,539.1339	298,459.1123	2,202,277.1470	2,750,754.7775
M&E - 1.50% - Huntington Landmark	670.3508	644,546.2409	2,710,277.9924	6,840,081.5649
M&E - 1.50% - Landmark ML	988,652.2566	2,624,131.8184	4,184,422.8098	12,160,747.4666
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	1,787,349.3330	4,912,638.2866	9,175,189.4323	7,038,351.5698
M&E - 1.70% - Freedom	3,977,025.5754	32,831,990.7401	53,604,200.0965	72,540,743.8260
M&E - 1.80% - Landmark	3,475,662.8378	23,781,784.1145	34,443,298.5849	52,208,959.7604
M&E - 1.80% - Suntrust Landmark	—	674,367.4465	644,243.4185	155,093.7135
M&E - 1.80% - Landmark Select	—	594,068.2574	2,957,469.4197	722,909.7915
M&E - 1.80% - Huntington Landmark	15,301.4110	80,743.9209	392,522.0680	1,550,037.3983
M&E - 1.80% - Landmark ML	166,087.4329	479,146.7554	1,155,574.6900	4,797,561.4091

See accompanying notes.

7

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation - Growth VP Subaccount	Transamerica Asset Allocation - Conservative VP Subaccount	Transamerica Asset Allocation  - Moderate VP Subaccount	Transamerica Asset Allocation - Moderate Growth VP Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	862,055.7156	1,389,265.7334	2,927,695.8701	4,604,784.0499
M&E - 1.90% - Freedom	787,970.3638	3,985,042.4338	14,175,984.4466	21,209,465.8429
M&E - 1.95% - Landmark	—	7,265,720.7301	4,773,636.6348	12,668,302.5711
M&E - 1.95% - Landmark Select	—	—	—	35,474.3451
M&E - 1.95% - Huntington Landmark	—	—	249,345.7792	67,545.5926
M&E - 1.95% - Landmark ML	—	420,033.7678	817,897.0277	6,655,850.0720
M&E - 2.00% - Landmark	571,928.0063	4,409,687.8133	10,281,903.5664	16,364,812.0880
M&E - 2.00% - Suntrust Landmark	—	96,031.0008	—	191,312.2284
M&E - 2.00% - Landmark Select	—	—	129,749.8238	209,319.8713
M&E - 2.00% - Huntington Landmark	—	22,797.7394	91,760.6653	400,093.2500
M&E - 2.00% - Landmark ML	188,538.2356	171,768.8828	1,215,639.7777	1,590,197.9968
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	3,414,953.6442	1,928,458.0533	2,590,206.0860	4,835,060.4730
M&E - 2.20% - Freedom	4,377,934.0859	293,728.2607	3,141,510.8071	6,160,354.9350
M&E - 2.30% - Landmark	—	123,020.0276	29,230.6064	139,438.8447
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	35,603.3008	2,310,531.7333	1,603,360.4593
M&E - 2.45% - Landmark	—	531,590.1697	777,986.2429	790,528.6766
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

8

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation  - Growth VP Subaccount		Transamerica Asset Allocation - Conservative VP Subaccount		Transamerica Asset Allocation  - Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth  VP Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.425371	$	1.401527	$	1.451473	$	1.453283
M&E - 1.30% - Suntrust Landmark	$	1.425371	$	1.401527	$	1.451473	$	1.453283
M&E - 1.30% - Landmark Select	$	1.425371	$	1.401527	$	1.451473	$	1.453283
M&E - 1.30% - Huntington Landmark	$	0.782076	$	0.980267	$	0.935359	$	0.860829
M&E - 1.30% - Landmark ML	$	1.425371	$	1.401527	$	1.451473	$	1.453283
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.406723	$	1.383227	$	1.432464	$	1.434311
M&E - 1.50% - Suntrust Landmark	$	1.406723	$	1.383227	$	1.432464	$	1.434311
M&E - 1.50% - Landmark Select	$	1.406723	$	1.383227	$	1.432464	$	1.434311
M&E - 1.50% - Huntington Landmark	$	0.778513	$	0.975816	$	0.931099	$	0.856922
M&E - 1.50% - Landmark ML	$	1.406723	$	1.383227	$	1.432464	$	1.434311
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.392921	$	1.369643	$	1.418449	$	1.420209
M&E - 1.70% - Freedom	$	0.834891	$	1.022462	$	0.990521	$	0.914957
M&E - 1.80% - Landmark	$	1.379306	$	1.356226	$	1.404545	$	1.406322
M&E - 1.80% - Suntrust Landmark	$	1.379306	$	1.356226	$	1.404545	$	1.406322
M&E - 1.80% - Landmark Select	$	1.379306	$	1.356226	$	1.404545	$	1.406322
M&E - 1.80% - Huntington Landmark	$	0.773221	$	0.969193	$	0.924794	$	0.851107
M&E - 1.80% - Landmark ML	$	1.379306	$	1.356226	$	1.404545	$	1.406322

See accompanying notes.

9

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Asset Allocation  - Growth VP Subaccount		Transamerica Asset Allocation - Conservative VP Subaccount		Transamerica Asset Allocation  - Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth  VP Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.374764	$	1.351796	$	1.399939	$	1.401701
M&E - 1.90% - Freedom	$	0.828876	$	1.015120	$	0.983380	$	0.908385
M&E - 1.95% - Landmark	$	—	$	1.200247	$	1.223994	$	1.205589
M&E - 1.95% - Landmark Select	$	—	$	0.972755	$	0.946527	$	0.898123
M&E - 1.95% - Huntington Landmark	$	—	$	0.972755	$	0.946527	$	0.898123
M&E - 1.95% - Landmark ML	$	—	$	0.972755	$	0.946527	$	0.898123
M&E - 2.00% - Landmark	$	1.361319	$	1.338595	$	1.386267	$	1.388041
M&E - 2.00% - Suntrust Landmark	$	1.361319	$	1.338595	$	1.386267	$	1.388041
M&E - 2.00% - Landmark Select	$	1.361319	$	1.338595	$	1.386267	$	1.388041
M&E - 2.00% - Huntington Landmark	$	0.769705	$	0.964801	$	0.920598	$	0.847250
M&E - 2.00% - Landmark ML	$	1.361319	$	1.338595	$	1.386267	$	1.388041
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.348037	$	1.325501	$	1.372753	$	1.374483
M&E - 2.20% - Freedom	$	0.819964	$	1.004220	$	0.972831	$	0.898622
M&E - 2.30% - Landmark	$	1.334892	$	1.312585	$	1.359372	$	1.361057
M&E - 2.30% - Suntrust Landmark	$	1.334892	$	1.312585	$	1.359372	$	1.361057
M&E - 2.30% - Landmark Select	$	1.334892	$	1.312585	$	1.359372	$	1.361057
M&E - 2.30% - Huntington Landmark	$	0.764509	$	0.958275	$	0.914377	$	0.841516
M&E - 2.30% - Landmark ML	$	1.334892	$	1.312585	$	1.359372	$	1.361057
M&E - 2.35% - Freedom	$	—	$	0.965395	$	0.939349	$	0.891308
M&E - 2.45% - Landmark	$	—	$	0.963561	$	0.937563	$	0.889620
M&E - 2.45% - Landmark Select	$	—	$	0.963561	$	0.937563	$	0.889620
M&E - 2.45% - Huntington Landmark	$	—	$	0.963561	$	0.937563	$	0.889620
M&E - 2.45% - Landmark ML	$	—	$	0.963561	$	0.937563	$	0.889620

See accompanying notes.

10

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount		Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International  Equity VP Subaccount		Transamerica Science & Technology VP Subaccount
Assets
Investment in securities:
Number of shares - Initial		8,698,507.696		2,263,082.687		10,093,350.868		4,974,962.444
Cost	$	217,892,833	$	23,416,588	$	82,079,486	$	20,648,718
Number of shares - Service		364,804.685		156,070.103		796,208.669		711,344.371
Cost	$	8,252,926	$	1,470,966	$	5,295,514	$	2,461,895
Investments in mutual funds, Level 1 quoted prices at net asset value	$	173,765,019	$	18,845,200	$	70,065,067	$	23,157,451
Receivable for units sold		—		—		—		8
Total assets		173,765,019		18,845,200		70,065,067		23,157,459
Liabilities
Payable for units redeemed		118		17		22		—
	$	173,764,901	$	18,845,183	$	70,065,045	$	23,157,459
Net Assets:
Deferred annuity contracts terminable by owners	$	173,764,901	$	18,845,183	$	70,065,045	$	23,157,459
Total net assets	$	173,764,901	$	18,845,183	$	70,065,045	$	23,157,459

See accompanying notes.

11

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount	Transamerica American Century Large Company Value VP Subaccount	Transamerica MFS International  Equity VP Subaccount	Transamerica Science & Technology VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	9,406,811.6990	1,050,615.3816	2,941,447.4960	1,497,890.0306
M&E - 1.25% - Landmark ML	1,817,051.2377	240,421.1598	382,307.4871	76,446.7848
M&E - 1.25% - Freedom	1,328,910.4600	—	35,539.1615	22,379.0786
M&E - 1.30% - Landmark	12,156,718.6179	3,338,285.3282	8,987,606.1492	2,019,652.1439
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	498,549.1820	252,353.7408	217,290.0864	134,112.0147
M&E - 1.40% - Landmark	65,225,513.2981	391,293.6118	1,394,947.3265	651,217.2567
M&E - 1.40% - Landmark ML	14,398,155.0225	296,279.5283	899,383.0216	121,689.6809
M&E - 1.40% - Freedom	8,047,670.9476	248,497.6684	405,009.2773	459,793.8120
M&E - 1.50% - Landmark	20,711,697.3072	3,491,888.6227	8,835,238.3920	4,458,727.3116
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	5,178,358.8811	1,009,632.0416	2,778,264.7335	831,286.7841
M&E - 1.50% - Freedom	1,015,045.3621	131,085.2298	274,053.5097	256,051.7441
M&E - 1.55% - Landmark	50,629,748.6157	7,067,585.4862	27,384,443.0680	12,100,156.5679
M&E - 1.55% - Landmark ML	10,358,560.4050	846,444.8429	2,607,734.3332	1,818,631.2190
M&E - 1.65% - Freedom	5,228,876.0068	318,533.4901	942,876.1019	605,733.4925
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

12

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Equity VP Subaccount	Transamerica American Century Large Company Value VP Subaccount	Transamerica MFS International Equity VP Subaccount	Transamerica Science & Technology VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

13

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount		Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International  Equity VP Subaccount		Transamerica Science & Technology VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.959353	$	0.941857	$	1.098102	$	0.785809
M&E - 1.25% - Landmark ML	$	0.959353	$	0.941857	$	1.098102	$	0.785809
M&E - 1.25% - Freedom	$	0.760941	$	0.693704	$	0.844275	$	0.996972
M&E - 1.30% - Landmark	$	1.202573	$	1.032645	$	1.348706	$	1.181397
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.202573	$	1.032645	$	1.348706	$	1.181397
M&E - 1.40% - Landmark	$	0.733184	$	0.929797	$	1.084084	$	0.775777
M&E - 1.40% - Landmark ML	$	0.733184	$	0.929797	$	1.084084	$	0.775777
M&E - 1.40% - Freedom	$	1.066879	$	0.969263	$	1.336663	$	1.105753
M&E - 1.50% - Landmark	$	0.939041	$	0.921868	$	1.074829	$	0.769167
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	0.939041	$	0.921868	$	1.074829	$	0.769167
M&E—1.50% - Freedom	$	0.726238	$	0.921868	$	1.074829	$	0.769167
M&E - 1.55% - Landmark	$	0.722797	$	0.917970	$	1.070292	$	0.765878
M&E - 1.55% - Landmark ML	$	0.722797	$	0.917970	$	1.070292	$	0.765878
M&E - 1.65% - Freedom	$	0.715964	$	0.910133	$	1.061168	$	0.759395
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.157925	$	0.994325	$	1.298712	$	1.137581
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.157925	$	0.994325	$	1.298712	$	1.137581

See accompanying notes.

14

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount		Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International  Equity VP Subaccount		Transamerica Science & Technology VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	0.773764	$	—	$	—	$	—
M&E -2.05% - Landmark	$	1.136308	$	0.975778	$	1.274485	$	1.116346
M&E - 2.05% - Landmark ML	$	1.136308	$	0.975778	$	1.274485	$	1.116346
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	0.766561	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	0.766561	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

15

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount	Transamerica American Century Large Company Value VP Subaccount	Transamerica MFS International  Equity VP Subaccount	Transamerica Science & Technology VP Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	1,680,775.6193	352,092.7893	1,132,702.1970	997,038.5657
M&E - 1.30% - Suntrust Landmark	124,520.2641	53,723.3977	8,666.6616	—
M&E - 1.30% - Landmark Select	213,581.0652	8,035.6717	48,412.7397	3,817.1144
M&E - 1.30% - Huntington Landmark	817.2088	7,561.9323	28,285.6835	4,130.9345
M&E - 1.30% - Landmark ML	54,886.3677	151,979.9004	191,488.5611	19,383.4400
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	893,802.4337	176,344.7618	509,211.8151	497,112.9703
M&E - 1.50% - Suntrust Landmark	79,406.9940	6,790.5645	3,644.0952	—
M&E - 1.50% - Landmark Select	45,514.7172	—	—	—
M&E - 1.50% - Huntington Landmark	—	12,768.4493	49,348.2603	39,281.7346
M&E - 1.50% - Landmark ML	270,753.1722	—	29,939.3235	39,886.0435
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	261,328.9287	60,570.1248	118,086.0398	16,036.0262
M&E - 1.70% - Freedom	99,925.0631	28,678.8346	572,957.8214	192,382.6025
M&E - 1.80% - Landmark	776,210.4228	42,809.3952	158,817.8863	201,286.4539
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	2,348.5723	—	1,759.7718	—
M&E - 1.80% - Huntington Landmark	9,701.2224	—	366.0394	8,913.0542
M&E - 1.80% - Landmark ML	—	—	4,773.2957	—

See accompanying notes.

16

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount	Transamerica American Century Large Company Value VP Subaccount	Transamerica MFS International  Equity VP Subaccount	Transamerica Science & Technology VP Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	220,800.9631	88,202.6953	204,656.7601	1,170.9366
M&E - 1.90% - Freedom	69,016.4806	20,940.8837	136,937.0865	5,493.6592
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	25,461.4260	13,978.9407	2,921.2645	9,008.5063
M&E - 2.00% - Suntrust Landmark	—	—	10,127.7065	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	40,273.0113
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	463,695.3538	14,174.9927	94,923.1536	31,829.6687
M&E - 2.20% - Freedom	221,029.0465	17,557.7691	95,216.4835	9,267.2681
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

17

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount		Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International  Equity VP Subaccount		Transamerica Science & Technology VP Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.316212	$	1.197739	$	1.704145	$	1.428719
M&E - 1.30% - Suntrust Landmark	$	1.316212	$	1.197739	$	1.704145	$	1.428719
M&E - 1.30% - Landmark Select	$	1.316212	$	1.197739	$	1.704145	$	1.428719
M&E - 1.30% - Huntington Landmark	$	0.742164	$	0.717848	$	0.863623	$	0.902719
M&E - 1.30% - Landmark ML	$	1.316212	$	1.197739	$	1.704145	$	1.428719
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.298972	$	1.182081	$	1.681853	$	1.410031
M&E - 1.50% - Suntrust Landmark	$	1.298972	$	1.182081	$	1.681853	$	1.410031
M&E - 1.50% - Landmark Select	$	1.298972	$	1.182081	$	1.681853	$	1.410031
M&E - 1.50% - Huntington Landmark	$	0.738798	$	0.714575	$	0.859695	$	0.898606
M&E - 1.50% - Landmark ML	$	1.298972	$	1.182081	$	1.681853	$	1.410031
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.286249	$	1.170486	$	1.665369	$	1.396156
M&E - 1.70% - Freedom	$	0.773299	$	0.788249	$	0.934669	$	0.987985
M&E - 1.80% - Landmark	$	1.273661	$	1.159015	$	1.649029	$	1.382478
M&E - 1.80% - Suntrust Landmark	$	1.273661	$	1.159015	$	1.649029	$	1.382478
M&E - 1.80% - Landmark Select	$	1.273661	$	1.159015	$	1.649029	$	1.382478
M&E - 1.80% - Huntington Landmark	$	0.733780	$	0.709710	$	0.853844	$	0.892497
M&E - 1.80% - Landmark ML	$	1.273661	$	1.159015	$	1.649029	$	1.382478

See accompanying notes.

18

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  Equity VP Subaccount		Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International  Equity VP Subaccount		Transamerica Science & Technology VP Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.269462	$	1.155201	$	1.643632	$	1.377949
M&E - 1.90% - Freedom	$	0.767731	$	0.782584	$	0.927939	$	0.980870
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.257040	$	1.143928	$	1.627585	$	1.364512
M&E - 2.00% - Suntrust Landmark	$	1.257040	$	1.143928	$	1.627585	$	1.364512
M&E - 2.00% - Landmark Select	$	1.257040	$	1.143928	$	1.627585	$	1.364512
M&E - 2.00% - Huntington Landmark	$	0.730442	$	0.706495	$	0.849994	$	0.888442
M&E - 2.00% - Landmark ML	$	1.257040	$	1.143928	$	1.627585	$	1.364512
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.244787	$	1.132765	$	1.611688	$	1.351166
M&E - 2.20% - Freedom	$	0.759470	$	0.774160	$	0.917981	$	0.970354
M&E - 2.30% - Landmark	$	1.232655	$	1.121723	$	1.596014	$	1.338007
M&E - 2.30% - Suntrust Landmark	$	1.232655	$	1.121723	$	1.596014	$	1.338007
M&E - 2.30% - Landmark Select	$	1.232655	$	1.121723	$	1.596014	$	1.338007
M&E - 2.30% - Huntington Landmark	$	0.725501	$	0.701708	$	0.844243	$	0.882423
M&E - 2.30% - Landmark ML	$	1.232655	$	1.121723	$	1.596014	$	1.338007
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

19

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount		Transamerica Templeton  Global VP Subaccount		Transamerica Balanced  VP Subaccount		Transamerica Jennison Growth  VP Subaccount
Assets
Investment in securities:
Number of shares - Initial		4,223,684.726		4,762,220.828		1,800,951.952		3,397,260.087
Cost	$	68,413,317	$	65,436,853	$	19,864,984	$	24,085,454
Number of shares - Service		506,155.235		587,970.043		1,901,906.999		208,750.622
Cost	$	6,230,921	$	8,384,782	$	18,761,373	$	1,301,213
Investments in mutual funds, Level 1 quoted prices at net asset value	$	49,666,465	$	93,498,402	$	37,876,209	$	25,367,528
Receivable for units sold		14		66		3		—
Total assets		49,666,479		93,498,468		37,876,212		25,367,528
Liabilities
Payable for units redeemed		—		—		—		—
	$	49,666,479	$	93,498,468	$	37,876,212	$	25,367,528
Net Assets:
Deferred annuity contracts terminable by owners	$	49,666,479	$	93,498,468	$	37,876,212	$	25,367,528
Total net assets	$	49,666,479	$	93,498,468	$	37,876,212	$	25,367,528

See accompanying notes.

20

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount	Transamerica Templeton  Global VP Subaccount	Transamerica Balanced  VP Subaccount	Transamerica Jennison Growth  VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	1,223,920.0065	3,689,093.5279	344,599.8058	1,262,749.3489
M&E - 1.25% - Landmark ML	77,337.5591	554,176.7938	44,713.0209	138,566.5634
M&E - 1.25% - Freedom	111,925.2675	513,815.2391	—	58,255.6877
M&E - 1.30% - Landmark	4,710,271.5987	10,191,351.4114	3,717,824.1844	1,930,170.0878
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	202,556.3101	628,549.8284	103,480.2907	220,190.3852
M&E - 1.40% - Landmark	1,415,132.8124	10,378,861.0288	522,107.5348	3,862,502.7773
M&E - 1.40% - Landmark ML	206,237.1161	5,551,679.5855	106,270.0103	2,051,071.1062
M&E - 1.40% - Freedom	348,296.3301	3,138,287.2937	330,402.1718	745,691.1022
M&E - 1.50% - Landmark	2,780,511.8371	13,243,445.5417	1,516,297.8170	4,224,866.2394
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	233,005.6950	2,714,417.6850	123,076.7772	857,184.2700
M&E - 1.50% - Freedom	133,300.1607	1,108,621.4805	62,116.1108	73,863.7936
M&E - 1.55% - Landmark	11,302,486.7352	55,429,114.1359	7,236,997.5682	9,892,342.6181
M&E - 1.55% - Landmark ML	1,327,206.4112	7,534,508.6242	574,592.5388	946,294.5700
M&E - 1.65% - Freedom	1,269,838.9176	7,324,839.7485	397,663.2612	618,715.0909
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

21

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion  Global Real Estate Securities  VP Subaccount	Transamerica Templeton Global VP Subaccount	Transamerica Balanced  VP Subaccount	Transamerica Jennison Growth VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

22

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount		Transamerica Templeton  Global VP Subaccount		Transamerica Balanced  VP Subaccount		Transamerica Jennison Growth  VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.782147	$	0.966350	$	1.248058	$	0.884015
M&E - 1.25% - Landmark ML	$	1.782147	$	0.966350	$	1.248058	$	0.884015
M&E - 1.25% - Freedom	$	0.661431	$	0.758326	$	0.893729	$	0.924062
M&E - 1.30% - Landmark	$	1.775400	$	1.112797	$	1.243310	$	1.111472
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.775400	$	1.112797	$	1.243310	$	1.111472
M&E - 1.40% - Landmark	$	1.762024	$	0.560100	$	1.233952	$	0.869294
M&E - 1.40% - Landmark ML	$	1.762024	$	0.560100	$	1.233952	$	0.869294
M&E - 1.40% - Freedom	$	1.453717	$	1.069979	$	1.173982	$	1.159084
M&E - 1.50% - Landmark	$	1.748721	$	0.945871	$	1.224632	$	0.865311
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.748721	$	0.945871	$	1.224632	$	0.865311
M&E - 1.50% - Freedom	$	1.748721	$	0.554792	$	1.224632	$	0.857230
M&E - 1.55% - Landmark	$	1.742145	$	0.552142	$	1.220025	$	0.853189
M&E - 1.55% - Landmark ML	$	1.742145	$	0.552142	$	1.220025	$	0.853301
M&E - 1.65% - Freedom	$	1.729018	$	0.546937	$	1.210830	$	0.841582
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.709535	$	1.071551	$	1.197206	$	1.070273
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.709535	$	1.071551	$	1.197206	$	1.070273

See accompanying notes.

23

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount		Transamerica Templeton  Global VP Subaccount		Transamerica Balanced  VP Subaccount		Transamerica Jennison Growth  VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.677684	$	1.051533	$	1.174907	$	1.050300
M&E - 2.05% - Landmark ML	$	1.677684	$	1.051533	$	1.174907	$	1.050300
M&E - 15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

24

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount	Transamerica Templeton Global VP Subaccount	Transamerica Balanced VP Subaccount	Transamerica Jennison Growth VP Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	1,304,745.7982	3,677,426.3621	8,857,972.8061	454,071.9150
M&E - 1.30% - Suntrust Landmark	42,088.7511	120,714.9642	34,032.2570	—
M&E - 1.30% - Landmark Select	15,495.6464	112,922.0484	55,665.4569	—
M&E - 1.30% - Huntington Landmark	6,418.0025	19,073.6373	299,283.7137	4,327.9777
M&E - 1.30% - Landmark ML	98,463.5883	404,176.8058	473,859.1312	49,337.5338
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	474,707.9628	1,140,620.3625	2,117,211.1863	190,014.7430
M&E - 1.50% - Suntrust Landmark	13,241.0722	12,348.4216	5,641.0999	—
M&E - 1.50% - Landmark Select	12,048.7613	3,620.8475	2,565.2252	—
M&E - 1.50% - Huntington Landmark	17,297.2793	12,888.9919	162,274.3234	20,238.3007
M&E - 1.50% - Landmark ML	11,894.6516	76,550.8784	143,067.7080	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	62,218.8171	257,960.8339	110,442.2436	—
M&E - 1.70% - Freedom	393,492.0877	1,137,473.9263	1,041,087.0865	208,693.6438
M&E - 1.80% - Landmark	526,283.6004	1,420,469.7448	1,016,051.2285	81,411.2238
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	10,459.6766	180.6318	46,654.9444	—
M&E - 1.80% - Landmark ML	—	—	25,360.9411	—

See accompanying notes.

25

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount	Transamerica Templeton  Global VP Subaccount	Transamerica Balanced VP Subaccount	Transamerica Jennison Growth VP Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	127,704.5800	418,135.7416	38,694.9556	17,124.3327
M&E - 1.90% - Freedom	34,859.1897	151,245.4172	637,354.5650	2,056.6894
M&E - 1.95% - Landmark	—	—	337,708.2252	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	4,748.2036	—
M&E - 1.95% - Landmark ML	—	—	52,216.1197	—
M&E - 2.00% - Landmark	17,752.0255	101,726.1180	368,019.0073	20,928.7351
M&E - 2.00% - Suntrust Landmark	—	10,017.5979	26,582.0960	9,496.7671
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	27,161.9534	17,489.2692
M&E - 2.00% - Landmark ML	—	—	52,034.2498	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	185,759.1379	602,949.9330	29,364.3607	39,633.0861
M&E - 2.20% - Freedom	32,769.6510	340,951.6237	5,561.4550	35,764.4118
M&E - 2.30% - Landmark	—	—	—	4,262.0052
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

26

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount		Transamerica Templeton  Glboal VP Subaccount		Transamerica Balanced VP Subaccount		Transamerica Jennison Growth  VP Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.780042	$	1.067419	$	1.273336	$	1.378751
M&E - 1.30% - Suntrust Landmark	$	1.780042	$	1.067419	$	1.273336	$	1.378751
M&E - 1.30% - Landmark Select	$	1.780042	$	1.067419	$	1.273336	$	1.378751
M&E - 1.30% - Huntington Landmark	$	0.742931	$	0.760877	$	0.881024	$	0.913651
M&E - 1.30% - Landmark ML	$	1.780042	$	1.067419	$	1.273336	$	1.378751
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.756760	$	1.055513	$	1.256654	$	1.360709
M&E - 1.50% - Suntrust Landmark	$	1.756760	$	1.055513	$	1.256654	$	1.360709
M&E - 1.50% - Landmark Select	$	1.756760	$	1.055513	$	1.256654	$	1.360709
M&E - 1.50% - Huntington Landmark	$	0.739550	$	0.757422	$	0.877014	$	0.909502
M&E - 1.50% - Landmark ML	$	1.756760	$	1.055513	$	1.256654	$	1.360709
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.739527	$	1.046700	$	1.244313	$	1.347358
M&E - 1.70% - Freedom	$	0.836507	$	0.843895	$	0.938809	$	0.941418
M&E - 1.80% - Landmark	$	1.722493	$	1.038021	$	1.232127	$	1.334166
M&E - 1.80% - Suntrust Landmark	$	1.722493	$	1.038021	$	1.232127	$	1.334166
M&E - 1.80% - Landmark Select	$	1.722493	$	1.038021	$	1.232127	$	1.334166
M&E - 1.80% - Huntington Landmark	$	0.734517	$	0.752265	$	0.871054	$	0.903308
M&E - 1.80% - Landmark ML	$	1.722493	$	1.038021	$	1.232127	$	1.334166

See accompanying notes.

27

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Clarion Global  Real Estate Securities VP Subaccount		Transamerica Templeton  Global VP Subaccount		Transamerica Balanced VP Subaccount		Transamerica Jennison Growth  VP Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.716885	$	1.035091	$	1.228099	$	1.329797
M&E - 1.90% - Freedom	$	0.830462	$	0.837828	$	0.932035	$	0.934657
M&E - 1.95% - Landmark	$	—	$	—	$	1.149041	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	0.905514	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	0.905514	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	0.905514	$	—
M&E - 2.00% - Landmark	$	1.700055	$	1.026501	$	1.216116	$	1.316798
M&E - 2.00% - Suntrust Landmark	$	1.700055	$	1.026501	$	1.216116	$	1.316798
M&E - 2.00% - Landmark Select	$	1.700055	$	1.026501	$	1.216116	$	1.316798
M&E - 2.00% - Huntington Landmark	$	0.731187	$	0.748850	$	0.867110	$	0.899221
M&E - 2.00% - Landmark ML	$	1.700055	$	1.026501	$	1.216116	$	1.316798
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.683496	$	1.017952	$	1.204240	$	1.303937
M&E - 2.20% - Freedom	$	0.821542	$	0.828849	$	0.922028	$	0.924589
M&E - 2.30% - Landmark	$	1.667079	$	1.009511	$	1.192487	$	1.291243
M&E - 2.30% - Suntrust Landmark	$	1.667079	$	1.009511	$	1.192487	$	1.291243
M&E - 2.30% - Landmark Select	$	1.667079	$	1.009511	$	1.192487	$	1.291243
M&E - 2.30% - Huntington Landmark	$	0.726229	$	0.743796	$	0.861242	$	0.893146
M&E - 2.30% - Landmark ML	$	1.667079	$	1.009511	$	1.192487	$	1.291243
M&E - 2.35% - Freedom	$	—	$	—	$	0.898631	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	0.896936	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	0.896936	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	0.896936	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	0.896936	$	—

See accompanying notes.

28

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP		Transamerica Marsico Growth VP		Transamerica AEGON High Yield Bond VP		Transamerica Growth Opportunities VP
	Subaccount		Subaccount		Subaccount		Subaccount
Assets
Investment in securities:
Number of shares - Initial		8,054,640.283		2,722,207.946		10,951,229.116		3,777,360.303
Cost	$	98,137,847	$	28,703,306	$	87,839,676	$	53,137,813
Number of shares - Service		184,274.278		623,856.195		1,296,262.111		191,989.313
Cost	$	2,305,764	$	6,035,761	$	9,523,342	$	1,986,771
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	85,362,525	$	30,968,106	$	97,606,694	$	41,891,374
Receivable for units sold		9		—		72		—
Total assets		85,362,534		30,968,106		97,606,766		41,891,374
Liabilities
Payable for units redeemed		—		8		—		14
	$	85,362,534	$	30,968,098	$	97,606,766	$	41,891,360
Net Assets:
Deferred annuity contracts terminable by owners	$	85,362,534	$	30,968,098	$	97,606,766	$	41,891,360
Total net assets	$	85,362,534	$	30,968,098	$	97,606,766	$	41,891,360

See accompanying notes.

29

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP	Transamerica Marsico Growth VP	Transamerica AEGON High Yield Bond VP	Transamerica Growth Opportunities VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	5,783,261.0872	1,676,138.4114	4,092,068.5055	1,736,732.3408
M&E - 1.25% - Landmark ML	773,179.0779	434,864.3351	440,838.1893	332,783.9069
M&E - 1.25% - Freedom	867,921.3676	7,792.7476	139,736.9954	14,853.9303
M&E - 1.30% - Landmark	5,749,342.5060	1,139,506.4036	7,788,419.6836	3,772,264.8553
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	309,923.3416	548,459.3400	405,787.5342	325,473.5501
M&E - 1.40% - Landmark	6,894,886.7833	1,921,756.9560	3,372,781.6162	860,155.0194
M&E - 1.40% - Landmark ML	4,794,379.9905	1,835,645.0808	1,012,050.7198	404,967.7544
M&E - 1.40% - Freedom	4,336,397.6928	277,975.6292	1,330,932.9521	217,035.1341
M&E - 1.50% - Landmark	21,719,354.3295	5,840,639.8126	10,131,493.0426	4,458,718.8309
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	1,757,942.5450	2,574,113.9730	1,399,866.0307	1,180,854.1458
M&E - 1.50% - Freedom	192,323.6514	152,443.1340	300,407.1097	104,478.1551
M&E - 1.55% - Landmark	18,493,168.6552	10,827,705.4705	27,302,386.4810	10,364,291.5010
M&E - 1.55% - Landmark ML	2,257,964.1659	3,158,001.8480	2,266,604.6538	1,701,627.5993
M&E - 1.65% - Freedom	1,050,365.5902	725,733.2391	899,185.6722	618,098.2009
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

30

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP Subaccount	Transamerica Marsico Growth  VP Subaccount	Transamerica AEGON High Yield Bond  VP Subaccount	Transamerica Growth Opportunities  VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

31

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP Subaccount		Transamerica Marsico Growth  VP Subaccount		Transamerica AEGON High Yield Bond  VP Subaccount		Transamerica Growth Opportunities  VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.889633	$	0.865639	$	1.483913	$	1.600591
M&E - 1.25% - Landmark ML	$	0.889633	$	0.865639	$	1.483913	$	1.600591
M&E - 1.25% - Freedom	$	0.771901	$	0.837894	$	1.042268	$	0.928130
M&E - 1.30% - Landmark	$	1.062934	$	1.277479	$	1.480603	$	1.347642
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.062934	$	1.277479	$	1.480603	$	1.347642
M&E - 1.40% - Landmark	$	1.370867	$	0.750713	$	1.435735	$	1.580164
M&E - 1.40% - Landmark ML	$	1.370867	$	0.750713	$	1.435735	$	1.580164
M&E - 1.40% - Freedom	$	1.027676	$	1.075069	$	1.284345	$	1.210698
M&E - 1.50% - Landmark	$	0.870805	$	0.847323	$	1.452521	$	1.566698
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	0.870805	$	0.847323	$	1.452521	$	1.566698
M&E - 1.50% - Freedom	$	1.353369	$	0.743558	$	1.419455	$	1.566698
M&E - 1.55% - Landmark	$	1.345531	$	0.740020	$	1.411341	$	1.560037
M&E - 1.55% - Landmark ML	$	1.345756	$	0.740020	$	1.411341	$	1.560037
M&E - 1.65% - Freedom	$	1.328696	$	0.733029	$	1.395350	$	1.546752
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.023504	$	1.236202	$	1.425705	$	1.297670
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.023504	$	1.236202	$	1.425705	$	1.297670

See accompanying notes.

32

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan  Enhanced Index VP Subaccount		Transamerica Marsico Growth  VP Subaccount		Transamerica AEGON High  Yield Bond VP Subaccount		Transamerica Growth Opportunities VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.004383	$	1.216121	$	1.399117	$	1.273463
M&E - 2.05% - Landmark ML	$	1.004383	$	1.216121	$	1.399117	$	1.273463
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

33

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan  Enhanced Index VP Subaccount	Transamerica Marsico Growth  VP Subaccount	Transamerica AEGON High  Yield Bound VP Subaccount	Transamerica Growth Opportunities VP Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	524,603.5760	1,252,644.6852	2,758,011.4989	401,163.5812
M&E - 1.30% - Suntrust Landmark	75,032.9212	6,284.4511	122,839.7895	51,839.9487
M&E - 1.30% - Landmark Select	62,294.0052	36,908.2141	48,049.6417	1,287.1689
M&E - 1.30% - Huntington Landmark	8,454.3082	103,089.3355	43,174.8664	—
M&E - 1.30% - Landmark ML	201,576.9553	1,033,093.2523	243,534.0791	3,811.5683
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	63,233.3279	742,420.0202	2,163,381.4733	333,251.4962
M&E - 1.50% - Suntrust Landmark	3,468.3754	—	16,668.6556	—
M&E - 1.50% - Landmark Select	—	—	5,897.8605	—
M&E - 1.50% - Huntington Landmark	—	45,334.2044	16,117.1073	1,120.6774
M&E - 1.50% - Landmark ML	144,561.6193	59,388.7022	3,098.1176	1,658.2187
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	38,105.2021	35,189.7768	266,035.6218	23,231.1259
M&E - 1.70% - Freedom	347,815.6135	668,899.8070	863,904.6857	354,237.6740
M&E - 1.80% - Landmark	44,837.7250	270,267.6151	270,932.7859	102,672.6275
M&E - 1.80% - Suntrust Landmark	—	—	11,112.5368	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	351.8249	—	—
M&E - 1.80% - Landmark ML	—	16,879.9428	—	905.1744

See accompanying notes.

34

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan  Enhanced Index VP Subaccount	Transamerica Marsico Growth  VP Subaccount	Transamerica AEGON High  Yield Bound VP Subaccount	Transamerica Growth Opportunities VP Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	86.2614	36,957.0035	145,091.2520	21,180.2277
M&E - 1.90% - Freedom	8,630.1814	66,120.0690	33,540.2621	80,267.9284
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	1,031.6749	24,897.6341	72,182.3792	6,027.5031
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	83,019.7489	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	101,832.5252	448,617.4733	661,375.3348	52,651.5221
M&E - 2.20% - Freedom	45,718.4561	73,067.7290	47,413.6598	9,577.8846
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

35

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP Subaccount		Transamerica Marsico Growth  VP Subaccount		Transamerica AEGON High  Yield Bound VP Subaccount		Transamerica Growth Opportunities VP Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.247187	$	1.256800	$	1.376898	$	1.622576
M&E - 1.30% - Suntrust Landmark	$	1.247187	$	1.256800	$	1.376898	$	1.622576
M&E - 1.30% - Landmark Select	$	1.247187	$	1.256800	$	1.376898	$	1.622576
M&E - 1.30% - Huntington Landmark	$	0.790923	$	0.799632	$	1.075846	$	0.841700
M&E - 1.30% - Landmark ML	$	1.247187	$	1.256800	$	1.376898	$	1.622576
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.230896	$	1.240372	$	1.358908	$	1.601367
M&E - 1.50% - Suntrust Landmark	$	1.230896	$	1.240372	$	1.358908	$	1.601367
M&E - 1.50% - Landmark Select	$	1.230896	$	1.240372	$	1.358908	$	1.601367
M&E - 1.50% - Huntington Landmark	$	0.787316	$	0.795982	$	1.070975	$	0.837865
M&E - 1.50% - Landmark ML	$	1.230896	$	1.240372	$	1.358908	$	1.601367
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.218801	$	1.228206	$	1.345574	$	1.585634
M&E - 1.70% - Freedom	$	0.874132	$	0.858885	$	1.120823	$	0.900335
M&E - 1.80% - Landmark	$	1.206866	$	1.216181	$	1.332433	$	1.570113
M&E - 1.80% - Suntrust Landmark	$	1.206866	$	1.216181	$	1.332433	$	1.570113
M&E - 1.80% - Landmark Select	$	1.206866	$	1.216181	$	1.332433	$	1.570113
M&E - 1.80% - Huntington Landmark	$	0.781955	$	0.790577	$	1.063705	$	0.832161
M&E - 1.80% - Landmark ML	$	1.206866	$	1.216181	$	1.332433	$	1.570113

See accompanying notes.

36

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Enhanced Index VP Subaccount		Transamerica Marsico Growth  VP Subaccount		Transamerica AEGON High  Yield Bound VP Subaccount		Transamerica Growth Opportunities VP Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.202938	$	1.212199	$	1.328042	$	1.564957
M&E - 1.90% - Freedom	$	0.867821	$	0.852682	$	1.112807	$	0.893848
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.191179	$	1.200353	$	1.315063	$	1.549674
M&E - 2.00% - Suntrust Landmark	$	1.191179	$	1.200353	$	1.315063	$	1.549674
M&E - 2.00% - Landmark Select	$	1.191179	$	1.200353	$	1.315063	$	1.549674
M&E - 2.00% - Huntington Landmark	$	0.778434	$	0.786988	$	1.058868	$	0.828404
M&E - 2.00% - Landmark ML	$	1.191179	$	1.200353	$	1.315063	$	1.549674
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.179562	$	1.188640	$	1.302247	$	1.534555
M&E - 2.20% - Freedom	$	0.858510	$	0.843556	$	1.100861	$	0.884251
M&E - 2.30% - Landmark	$	1.168051	$	1.177053	$	1.289545	$	1.519589
M&E - 2.30% - Suntrust Landmark	$	1.168051	$	1.177053	$	1.289545	$	1.519589
M&E - 2.30% - Landmark Select	$	1.168051	$	1.177053	$	1.289545	$	1.519589
M&E - 2.30% - Huntington Landmark	$	0.773149	$	0.781662	$	1.051706	$	0.822792
M&E - 2.30% - Landmark ML	$	1.168051	$	1.177053	$	1.289545	$	1.519589
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

37

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount		Transamerica  Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Assets
Investment in securities:
Number of shares - Initial		14,528,221.155		27,503,489.811		7,926,916.558		3,496,609.366
Cost	$	196,186,832	$	305,791,746	$	97,962,362	$	27,788,804
Number of shares - Service		1,352,129.437		7,615,874.219		201,950.987		747,128.653
Cost	$	17,542,871	$	85,283,045	$	2,298,460	$	6,396,778
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	197,950,297	$	394,940,527	$	75,433,872	$	33,340,839
Receivable for units sold		36,435		218		—		—
Total assets		197,986,732		394,940,745		75,433,872		33,340,839
Liabilities
Payable for units redeemed		—		—		30		31
	$	197,986,732	$	394,940,745	$	75,433,842	$	33,340,808
Net Assets:
Deferred annuity contracts terminable by owners	$	197,986,732	$	394,940,745	$	75,433,842	$	33,340,808
Total net assets	$	197,986,732	$	394,940,745	$	75,433,842	$	33,340,808

See accompanying notes.

38

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount	Transamerica PIMCO Total Return VP Subaccount	Transamerica  Focus VP Subaccount	Transamerica Convertible Securities VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	7,623,927.1160	6,904,300.3259	4,294,821.3815	762,827.7372
M&E - 1.25% - Landmark ML	1,256,954.5066	1,276,639.2406	541,117.0978	69,506.9296
M&E - 1.25% - Freedom	498,832.7462	488,196.6170	117,397.9252	—
M&E - 1.30% - Landmark	16,697,064.9789	32,214,383.3077	7,615,461.1483	3,548,764.3801
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	914,758.9648	2,775,488.4722	572,202.8547	271,642.7745
M&E - 1.40% - Landmark	20,784,592.7854	8,129,237.9182	2,243,307.3693	1,008,425.3884
M&E - 1.40% - Landmark ML	3,044,228.7192	3,296,819.6210	618,945.5174	354,185.8096
M&E - 1.40% - Freedom	6,964,818.4920	3,340,498.7649	2,247,122.8627	444,310.6171
M&E - 1.50% - Landmark	23,039,329.8980	24,207,633.7297	19,322,912.3699	2,388,619.7729
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	4,443,852.3754	7,737,509.4847	3,983,502.5807	543,850.6316
M&E - 1.50% - Freedom	1,136,339.2047	2,837,622.7390	368,024.8828	91,913.9775
M&E - 1.55% - Landmark	48,575,817.5215	114,517,983.0378	26,153,442.0337	9,743,473.8174
M&E - 1.55% - Landmark ML	5,458,999.0697	15,270,689.0910	3,867,565.5452	1,254,415.3042
M&E - 1.65% - Freedom	3,826,118.9554	4,431,152.3427	1,490,680.4172	383,979.5135
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

39

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Large Cap Value VP Subaccount	Transamerica PIMCO Total Return VP Subaccount	Transamerica  Focus VP Subaccount	Transamerica Convertible Securities VP Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

40

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount		Transamerica  Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.204776	$	1.386905	$	0.965218	$	1.343302
M&E - 1.25% - Landmark ML	$	1.204776	$	1.386905	$	0.965218	$	1.343302
M&E - 1.25% - Freedom	$	0.716970	$	1.166474	$	0.757969	$	0.928044
M&E - 1.30% - Landmark	$	1.214338	$	1.381646	$	1.051095	$	1.338197
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.214338	$	1.381646	$	1.051095	$	1.338197
M&E - 1.40% - Landmark	$	1.320019	$	1.371221	$	1.048083	$	1.328102
M&E - 1.40% - Landmark ML	$	1.320019	$	1.371221	$	1.048083	$	1.328102
M&E - 1.40% - Freedom	$	1.147724	$	1.265712	$	1.003646	$	1.158833
M&E - 1.50% - Landmark	$	1.179303	$	1.360914	$	0.944805	$	1.318102
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.179303	$	1.360914	$	0.944805	$	1.318102
M&E - 1.50% - Freedom	$	1.307493	$	1.360914	$	1.038099	$	1.318102
M&E - 1.55% - Landmark	$	1.301266	$	1.355748	$	1.033151	$	1.313104
M&E - 1.55% - Landmark ML	$	1.301266	$	1.355748	$	1.033151	$	1.313104
M&E - 1.65% - Freedom	$	1.288921	$	1.345550	$	1.023386	$	1.303225
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.169286	$	1.330428	$	1.012124	$	1.288567
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.169286	$	1.330428	$	1.012124	$	1.288567

See accompanying notes.

41

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount		Transamerica  Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.147457	$	1.305589	$	0.993235	$	1.264538
M&E - 2.05% - Landmark ML	$	1.147457	$	1.305589	$	0.993235	$	1.264538
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

42

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Large Cap Value VP Subaccount	Transamerica PIMCO Total Return VP Subaccount	Transamerica  Focus VP Subaccount	Transamerica Convertible Securities VP Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	4,500,363.4047	31,667,730.9450	347,669.3003	1,516,106.2181
M&E - 1.30% - Suntrust Landmark	84,508.0864	877,486.7679	26,935.7634	26,028.3771
M&E - 1.30% - Landmark Select	77,696.3867	513,749.8663	5,387.2394	22,707.9501
M&E - 1.30% - Huntington Landmark	915,067.6679	899,504.1386	3,289.0038	22,484.5895
M&E - 1.30% - Landmark ML	997,495.8188	4,468,163.6789	238,008.0437	80,063.8421
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	1,346,829.4224	6,682,366.2169	307,256.5673	441,540.4463
M&E - 1.50% - Suntrust Landmark	14,498.0512	58,434.5797	—	9,524.7650
M&E - 1.50% - Landmark Select	2,166.8636	97,564.4976	1,700.3347	—
M&E - 1.50% - Huntington Landmark	127,579.0947	136,000.8198	—	19,555.2469
M&E - 1.50% - Landmark ML	101,250.8680	358,669.6573	—	3,911.3827
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	145,754.2780	1,193,518.3880	15,860.0836	1,194,636.4790
M&E - 1.70% - Freedom	2,333,334.9975	6,723,271.6416	221,575.8754	424,103.0086
M&E - 1.80% - Landmark	1,408,848.9793	6,604,068.5069	64,446.3362	470,782.1122
M&E - 1.80% - Suntrust Landmark	—	11,901.4394	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	27,188.2780	106,818.2859	—	—
	43,022.9908	354,748.3676	—	—

See accompanying notes.

43

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Large Cap Value VP Subaccount	Transamerica PIMCO Total Return VP Subaccount	Transamerica  Focus VP Subaccount	Transamerica Convertible Securities VP Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	333,482.8982	778,935.3002	32,522.9920	128,352.0734
M&E - 1.90% - Freedom	177,029.8952	790,154.2322	93,372.2518	26,968.4074
M&E - 1.95% - Landmark	—	3,589,127.2946	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	234,004.0714	—	—
M&E - 2.00% - Landmark	61,995.3831	781,038.0963	21,794.8853	3,145.1799
M&E - 2.00% - Suntrust Landmark	11,191.5051	—	—	28,062.2974
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	42,763.7552	151,275.6079	—	83,123.1136
M&E - 2.00% - Landmark ML	5,753.9537	50,492.2650	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	495,017.3611	1,261,928.3001	194,647.3476	48,386.6891
M&E - 2.20% - Freedom	389,339.1661	153,777.8368	13,883.0908	37,729.3227
M&E - 2.30% - Landmark	—	114,559.9783	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	191,381.2097	—	—
M&E - 2.45% - Landmark	—	101,995.0485	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

44

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount		Transamerica  Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.453604	$	1.262615	$	1.289546	$	1.353255
M&E - 1.30% - Suntrust Landmark	$	1.453604	$	1.262615	$	1.289546	$	1.353255
M&E - 1.30% - Landmark Select	$	1.453604	$	1.262615	$	1.289546	$	1.353255
M&E - 1.30% - Huntington Landmark	$	0.744398	$	1.133644	$	0.788587	$	0.875365
M&E - 1.30% - Landmark ML	$	1.453604	$	1.262615	$	1.289546	$	1.353255
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	1.230568	$	1.108333	$	—	$	—
M&E - 1.50% - Landmark	$	1.434601	$	1.246128	$	1.272672	$	1.335549
M&E - 1.50% - Suntrust Landmark	$	1.434601	$	1.246128	$	1.272672	$	1.335549
M&E - 1.50% - Landmark Select	$	1.434601	$	1.246128	$	1.272672	$	1.335549
M&E - 1.50% - Huntington Landmark	$	0.741017	$	1.128488	$	0.784986	$	0.871381
M&E - 1.50% - Landmark ML	$	1.434601	$	1.246128	$	1.272672	$	1.335549
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.420531	$	1.233892	$	1.260189	$	1.322453
M&E - 1.70% - Freedom	$	0.791956	$	1.203194	$	0.836363	$	0.920995
M&E - 1.80% - Landmark	$	1.406606	$	1.221804	$	1.247848	$	1.309501
M&E - 1.80% - Suntrust Landmark	$	1.406606	$	1.221804	$	1.247848	$	1.309501
M&E - 1.80% - Landmark Select	$	1.406606	$	1.221804	$	1.247848	$	1.309501
M&E - 1.80% - Huntington Landmark	$	0.735955	$	1.120822	$	0.779642	$	0.865453
M&E - 1.80% - Landmark ML	$	1.406606	$	1.221804	$	1.247848	$	1.309501

See accompanying notes.

45

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount		Transamerica  Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.402016	$	1.217797	$	1.243782	$	1.305220
M&E - 1.90% - Freedom	$	0.786258	$	1.194546	$	0.830356	$	0.914390
M&E - 1.95% - Landmark	$	—	$	1.217156	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	1.042214	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	1.042214	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	1.042214	$	—	$	—
M&E - 2.00% - Landmark	$	1.388309	$	1.205885	$	1.231606	$	1.292440
M&E - 2.00% - Suntrust Landmark	$	1.388309	$	1.205885	$	1.231606	$	1.292440
M&E - 2.00% - Landmark Select	$	1.388309	$	1.205885	$	1.231606	$	1.292440
M&E - 2.00% - Huntington Landmark	$	0.732638	$	1.115752	$	0.776120	$	0.861537
M&E - 2.00% - Landmark ML	$	1.388309	$	1.205885	$	1.231606	$	1.292440
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.374770	$	1.194111	$	1.219584	$	1.279852
M&E - 2.20% - Freedom	$	0.777810	$	1.181738	$	0.821415	$	0.904570
M&E - 2.30% - Landmark	$	1.361363	$	1.182481	$	1.207689	$	1.267372
M&E - 2.30% - Suntrust Landmark	$	1.361363	$	1.182481	$	1.207689	$	1.267372
M&E - 2.30% - Landmark Select	$	1.361363	$	1.182481	$	1.207689	$	1.267372
M&E - 2.30% - Huntington Landmark	$	0.727673	$	1.108221	$	0.770871	$	0.855712
M&E - 2.30% - Landmark ML	$	1.361363	$	1.182481	$	1.207689	$	1.267372
M&E - 2.35% - Freedom	$	—	$	1.034332	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	1.032354	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	1.032354	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	1.032354	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	1.032354	$	—	$	—

See accompanying notes.

46

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica  U.S. Government  Securities VP Subaccount		Transamerica  U.S. Government Securities VP -  PAM Fund - SC Subaccount		Transamerica T. Rowe Price Equity Income VP Subaccount		Transamerica T. Rowe Price Growth Stock VP Subaccount
Assets
Investment in securities:
Number of shares - Initial		9,466,971.117		—		18,975,410.143		6,505,374.823
Cost	$	115,297,638	$	—	$	294,047,712	$	121,748,442
Number of shares - Service		3,658,758.000		6,570,387.726		705,539.966		233,095.809
Cost	$	47,438,965	$	81,798,803	$	9,046,496	$	4,444,853
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	169,958,988	$	86,072,079	$	196,865,944	$	132,650,184
Receivable for units sold		—		—		—		6
Total assets		169,958,988		86,072,079		196,865,944		132,650,190
Liabilities
Payable for units redeemed		6		62		4		—
	$	169,958,982	$	86,072,017	$	196,865,940	$	132,650,190
Net Assets:
Deferred annuity contracts terminable by owners	$	169,958,982	$	86,072,017	$	196,865,940	$	132,650,190
Total net assets	$	169,958,982	$	86,072,017	$	196,865,940	$	132,650,190

See accompanying notes.

47

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP	Transamerica U.S. Government Securities VP - PAM Fund - SC	Transamerica T. Rowe Price Equity Income VP	Transamerica T. Rowe Price Growth Stock VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	6,011,581.9685	—	8,569,292.6780	4,189,416.7458
M&E - 1.25% - Landmark ML	1,941,604.5810	—	1,877,042.1135	2,010,813.2036
M&E - 1.25% - Freedom	179,774.0855	—	1,646,714.9999	855,805.8786
M&E - 1.30% - Landmark	9,441,322.4827	—	15,677,800.5463	10,526,670.6641
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	1,161,095.5394	—	920,966.0250	617,092.1542
M&E - 1.40% - Landmark	7,234,033.8458	—	14,597,929.7537	9,395,782.5439
M&E - 1.40% - Landmark ML	2,668,465.5776	—	2,571,462.9192	2,423,100.3197
M&E - 1.40% - Freedom	3,326,718.9052	—	10,517,736.7976	6,715,442.2822
M&E - 1.50% - Landmark	14,015,304.8745	—	24,288,110.1269	13,568,894.5278
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	5,545,491.0137	—	6,382,127.0183	5,006,362.4138
M&E - 1.50% - Freedom	432,125.9284	—	368,891.0384	104,298.6417
M&E - 1.55% - Landmark	22,535,337.2708	—	19,756,622.2562	12,594,203.9272
M&E - 1.55% - Landmark ML	4,627,975.7894	—	2,991,610.7396	2,707,607.0287
M&E - 1.65% - Freedom	1,478,270.5011	—	1,235,581.4016	882,754.1619
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

48

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP	Transamerica U.S. Government Securities VP - PAM Fund - SC	Transamerica T. Rowe Price Equity Income VP	Transamerica T. Rowe Price Growth Stock VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

49

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government  Securities VP Subaccount		Transamerica U.S. Government Securities VP -  PAM Fund - SC Subaccount		Transamerica T. Rowe  Price Equity Income VP Subaccount		Transamerica T. Rowe  Price Growth Stock VP Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.304088	$	—	$	1.156556	$	1.025585
M&E - 1.25% - Landmark ML	$	1.304088	$	—	$	1.156556	$	1.025585
M&E - 1.25% - Freedom	$	1.130004	$	—	$	0.751337	$	0.827234
M&E - 1.30% - Landmark	$	1.275736	$	—	$	1.138448	$	1.171869
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.275736	$	—	$	1.138448	$	1.171869
M&E - 1.40% - Landmark	$	1.792649	$	—	$	2.718615	$	2.947718
M&E - 1.40% - Landmark ML	$	1.792649	$	—	$	2.718615	$	2.947718
M&E - 1.40% - Freedom	$	1.208102	$	—	$	1.066267	$	1.101477
M&E - 1.50% - Landmark	$	1.276501	$	—	$	1.132120	$	1.003869
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.276501	$	—	$	1.132120	$	1.003869
M&E - 1.50% - Freedom	$	1.761522	$	—	$	2.668586	$	2.893455
M&E - 1.55% - Landmark	$	1.762437	$	—	$	2.668404	$	2.893208
M&E - 1.55% - Landmark ML	$	1.762695	$	—	$	2.668771	$	2.893727
M&E - 1.65% - Freedom	$	1.726662	$	—	$	2.619987	$	2.840785
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.228445	$	—	$	1.096239	$	1.128450
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.228445	$	—	$	1.096239	$	1.128450

See accompanying notes.

50

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government  Securities VP Subaccount		Transamerica  U.S. Government Securities VP -  PAM Fund - SC Subaccount		Transamerica T. Rowe  Price Equity Income VP Subaccount		Transamerica T. Rowe  Price Growth Stock VP Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.205510	$	—	$	1.075756	$	1.107353
M&E - 2.05% - Landmark ML	$	1.205510	$	—	$	1.075756	$	1.107353
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

51

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP	Transamerica U.S. Government Securities VP - PAM Fund - SC	Transamerica T. Rowe Price Equity Income VP	Transamerica T. Rowe Price Growth Stock VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	105,907.8777	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	18,790,773.1156	32,714,153.8870	1,863,639.5775	985,568.0004
M&E - 1.30% - Suntrust Landmark	226,742.6308	3,796,109.0712	121,606.7454	320,217.0087
M&E - 1.30% - Landmark Select	712,008.2715	4,446,617.4658	272,204.7729	154,038.2325
M&E - 1.30% - Huntington Landmark	3,174,107.0971	609,795.7721	26,890.8802	85,999.9969
M&E - 1.30% - Landmark ML	997,124.8495	1,306,625.9116	212,940.4335	51,222.0056
M&E - 1.40% - Landmark	—	30,146.7529	—	—
M&E - 1.40% - Landmark ML	—	9,715.0078	—	—
M&E - 1.40% - Freedom	—	45,916.5326	—	—
M&E - 1.50% - Landmark	5,535,078.6755	14,487,560.1461	1,302,247.7396	688,778.7927
M&E - 1.50% - Suntrust Landmark	299,888.6729	501,407.2318	10,533.6407	10,734.0618
M&E - 1.50% - Landmark Select	42,206.6763	1,665,158.3596	23,388.5594	—
M&E - 1.50% - Huntington Landmark	948,961.7066	228,870.1614	39,974.5249	503.2551
M&E - 1.50% - Landmark ML	327,021.4841	1,380,784.7503	94,727.2334	21,627.3967
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	560,870.1475	1,658,881.2489	144,444.2275	103,387.8829
M&E - 1.70% - Freedom	3,456,286.3392	366,923.2318	474,560.2041	336,216.8411
M&E - 1.80% - Landmark	3,195,387.2617	5,177,468.1784	411,374.2577	399,187.3486
M&E - 1.80% - Suntrust Landmark	44,003.0002	114,167.4313	—	—
M&E - 1.80% - Landmark Select	—	145,405.9589	—	2,334.8544
M&E - 1.80% - Huntington Landmark	253,933.5401	57,916.3796	—	—
M&E - 1.80% - Landmark ML	24,586.4427	156,980.8961	50,331.1574	55,968.1828

See accompanying notes.

52

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP	Transamerica U.S. Government Securities VP - PAM Fund - SC	Transamerica T. Rowe Price Equity Income VP	Transamerica T. Rowe Price Growth Stock VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	233,240.1528	1,304,264.1568	100,080.6724	34,021.3761
M&E - 1.90% - Freedom	477,437.0769	515,621.7442	174,757.3832	43,776.7543
M&E - 1.95% - Landmark	974,277.0799	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	13,025.5718	—	—	—
M&E - 2.00% - Landmark	342,297.7350	2,343,195.4546	22,567.7293	—
M&E - 2.00% - Suntrust Landmark	—	325,926.8038	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	20,753.0334	—
M&E - 2.00% - Landmark ML	98,561.6627	25,345.3617	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	433,673.1318	—	365,727.1101	307,138.9167
M&E - 2.20% - Freedom	5,257.9624	—	27,698.1286	38,041.0147
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

53

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP		Transamerica U.S. Government Securities VP - PAM Fund - SC		Transamerica T. Rowe Price Equity Income VP		Transamerica T. Rowe Price Growth Stock VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	1.201264	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	1.201264	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	1.123009	$	—	$	—
M&E - 1.30% - Landmark	$	1.181779	$	1.181779	$	1.309947	$	1.327964
M&E - 1.30% - Suntrust Landmark	$	1.181779	$	1.181779	$	1.309947	$	1.327964
M&E - 1.30% - Landmark Select	$	1.181779	$	1.181779	$	1.309947	$	1.327964
M&E - 1.30% - Huntington Landmark	$	1.107163	$	1.107163	$	0.783714	$	0.830866
M&E - 1.30% - Landmark ML	$	1.181779	$	1.181779	$	1.309947	$	1.327964
M&E - 1.40% - Landmark	$	—	$	1.190380	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	1.190380	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	1.191066	$	—	$	—
M&E - 1.50% - Landmark	$	1.166358	$	1.166358	$	1.292820	$	1.310561
M&E - 1.50% - Suntrust Landmark	$	1.166358	$	1.166358	$	1.292820	$	1.310561
M&E - 1.50% - Landmark Select	$	1.166358	$	1.166358	$	1.292820	$	1.310561
M&E - 1.50% - Huntington Landmark	$	1.102143	$	1.102143	$	0.780153	$	0.827078
M&E - 1.50% - Landmark ML	$	1.166358	$	1.166358	$	1.292820	$	1.310561
M&E - 1.50% - Freedom	$	—	$	1.183164	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	1.179574	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	1.179574	$	—	$	—
M&E - 1.65% - Freedom	$	1.154918	$	1.154918	$	1.280140	$	1.297737
M&E - 1.70% - Freedom	$	1.168061	$	1.168061	$	0.858373	$	0.921737
M&E - 1.80% - Landmark	$	1.143620	$	1.143620	$	1.267609	$	1.285036
M&E - 1.80% - Suntrust Landmark	$	1.143620	$	1.143620	$	1.267609	$	1.285036
M&E - 1.80% - Landmark Select	$	1.143620	$	1.162706	$	1.267609	$	1.285036
M&E - 1.80% - Huntington Landmark	$	1.094646	$	1.094646	$	0.774830	$	0.821458
M&E - 1.80% - Landmark ML	$	1.143620	$	1.143620	$	1.267609	$	1.285036

See accompanying notes.

54

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica U.S. Government Securities VP		Transamerica U.S. Government Securities VP - PAM Fund - SC		Transamerica T. Rowe Price Equity Income VP		Transamerica T. Rowe Price Growth Stock VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.139846	$	1.139846	$	1.263447	$	1.280794
M&E - 1.90% - Freedom	$	1.159638	$	1.159638	$	0.852210	$	0.915098
M&E - 1.95% - Landmark	$	1.151322	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	1.053056	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	1.053056	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	1.053056	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.128725	$	1.128725	$	1.251114	$	1.268301
M&E - 2.00% - Suntrust Landmark	$	1.128725	$	1.128725	$	1.251114	$	1.268301
M&E - 2.00% - Landmark Select	$	1.128725	$	1.128725	$	1.251114	$	1.268301
M&E - 2.00% - Huntington Landmark	$	1.089701	$	1.089701	$	0.771336	$	0.817727
M&E - 2.00% - Landmark ML	$	1.128725	$	1.128725	$	1.251114	$	1.268301
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.117712	$	—	$	1.238901	$	1.255901
M&E - 2.20% - Freedom	$	1.147205	$	—	$	0.843056	$	0.905270
M&E - 2.30% - Landmark	$	1.106788	$	—	$	1.226806	$	1.243671
M&E - 2.30% - Suntrust Landmark	$	1.106788	$	—	$	1.226806	$	1.243671
M&E - 2.30% - Landmark Select	$	1.106788	$	—	$	1.226806	$	1.243671
M&E - 2.30% - Huntington Landmark	$	1.082334	$	—	$	0.766110	$	0.812204
M&E - 2.30% - Landmark ML	$	1.106788	$	—	$	1.226806	$	1.243671
M&E - 2.35% - Freedom	$	1.045079	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	1.043081	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	1.043081	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	1.043081	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	1.043081	$	—	$	—	$	—

See accompanying notes.

55

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP		Transamerica Van Kampen Active International Allocation VP		Transamerica Van Kampen Large Cap Core VP		Transamerica Money Market VP
	Subaccount		Subaccount		Subaccount		Subaccount
Assets
Investment in securities:
Number of shares - Initial		8,808,228.335		9,692,598.016		11,731,220.718		189,715,717.520
Cost	$	81,001,507	$	124,935,590	$	143,586,078	$	189,715,718
Number of shares - Service		969,782.536		708,242.572		637,844.626		73,627,114.010
Cost	$	7,245,963	$	8,544,339	$	7,184,711	$	73,627,114
Investments in mutual funds, Level 1 quoted prices at net asset value	$	68,613,344	$	112,404,758	$	162,435,220	$	263,342,832
Receivable for units sold		34		—		190		—
Total assets		68,613,378		112,404,758		162,435,410		263,342,832
Liabilities
Payable for units redeemed		—		20		—		122
	$	68,613,378	$	112,404,738	$	162,435,410	$	263,342,710
Net Assets:
Deferred annuity contracts terminable by owners	$	68,613,378	$	112,404,738	$	162,435,410	$	263,342,710
Total net assets	$	68,613,378	$	112,404,738	$	162,435,410	$	263,342,710

See accompanying notes.

56

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP	Transamerica Van Kampen Active International Allocation VP	Transamerica Van Kampen Large Cap Core VP	Transamerica Money Market VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	3,408,196.3028	3,639,852.7147	6,325,940.8170	8,420,583.5803
M&E - 1.25% - Landmark ML	421,278.6271	1,020,585.8589	2,104,906.3656	1,269,698.8170
M&E - 1.25% - Freedom	85,462.5413	761,038.3549	625,211.9592	175,700.7280
M&E - 1.30% - Landmark	9,886,226.0101	7,419,352.0014	8,048,674.4404	24,877,409.4036
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	518,102.3714	587,236.4630	1,013,444.7596	2,289,303.6002
M&E - 1.40% - Landmark	2,191,490.5842	12,873,999.1633	13,227,358.9244	10,004,040.2796
M&E - 1.40% - Landmark ML	957,571.1414	3,193,538.5257	2,233,824.6462	3,078,096.2104
M&E - 1.40% - Freedom	540,802.5723	4,263,484.4129	7,923,385.3392	4,046,436.0436
M&E - 1.50% - Landmark	8,936,449.1474	9,766,951.4951	18,141,208.4819	25,985,405.3254
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	2,552,564.7984	2,762,393.8262	4,971,205.6219	2,123,099.2054
M&E - 1.50% - Freedom	291,548.9659	507,708.8061	762,991.9385	1,488,730.7048
M&E - 1.55% - Landmark	30,066,170.4943	17,104,277.0510	13,327,503.3644	57,633,797.8387
M&E - 1.55% - Landmark ML	4,541,528.6792	2,304,287.5127	2,030,235.9146	4,685,968.7583
M&E - 1.65% - Freedom	914,078.9895	2,813,228.4228	1,869,699.1434	3,312,757.8503
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	27,968.4011	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

57

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP	Transamerica Van Kampen Active International Allocation VP	Transamerica Van Kampen Large Cap Core VP	Transamerica Money Market VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

58

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP		Transamerica Van Kampen Active International Allocation VP		Transamerica Van Kampen Large Cap Core VP		Transamerica Money Market VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.081922	$	1.203254	$	1.107576	$	1.094790
M&E - 1.25% - Landmark ML	$	1.081922	$	1.203254	$	1.107576	$	1.094790
M&E - 1.25% - Freedom	$	0.885390	$	0.795520	$	0.836016	$	1.024461
M&E - 1.30% - Landmark	$	1.169467	$	1.451334	$	1.210691	$	1.077875
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.169467	$	1.451334	$	1.210691	$	1.077875
M&E - 1.40% - Landmark	$	0.851754	$	1.755151	$	3.048951	$	1.463956
M&E - 1.40% - Landmark ML	$	0.851754	$	1.755151	$	3.048951	$	1.463956
M&E - 1.40% - Freedom	$	1.092695	$	1.317982	$	1.144770	$	1.080742
M&E - 1.50% - Landmark	$	1.059041	$	1.177791	$	1.084134	$	1.071558
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.059041	$	1.177791	$	1.084134	$	1.071558
M&E - 1.50% - Freedom	$	0.843676	$	1.508040	$	2.252680	$	1.359868
M&E - 1.55% - Landmark	$	0.839620	$	1.722687	$	2.992576	$	1.436968
M&E - 1.55% - Landmark ML	$	0.839620	$	1.722988	$	2.993078	$	1.437207
M&E - 1.65% - Freedom	$	0.831679	$	1.480611	$	2.211626	$	1.335075
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.126075	$	1.397487	$	1.165796	$	1.037883
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.126075	$	1.397487	$	1.165796	$	1.037883

See accompanying notes.

59

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP		Transamerica Van Kampen Active International Allocation VP		Transamerica Van Kampen Large Cap Core VP		Transamerica Money Market VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.105063	$	1.371410	$	1.144053	$	1.018499
M&E - 2.05% - Landmark ML	$	1.105063	$	1.371410	$	1.144053	$	1.018499
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

60

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP	Transamerica Van Kampen Active International Allocation VP	Transamerica Van Kampen Large Cap Core VP	Transamerica Money Market VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	1,773,828.9849	1,336,813.1244	2,114,242.9295	35,104,491.8664
M&E - 1.30% - Suntrust Landmark	116,159.6716	37,202.9298	129,011.4288	828,446.5512
M&E - 1.30% - Landmark Select	53,346.1935	24,369.7645	91,297.9108	1,118,298.6938
M&E - 1.30% - Huntington Landmark	103,170.2100	88,264.2040	45,313.1077	742,834.9294
M&E - 1.30% - Landmark ML	258,568.9300	496,589.6933	619,828.9666	2,903,374.9816
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	703,686.8224	699,955.6325	749,860.5737	10,332,545.1715
M&E - 1.50% - Suntrust Landmark	11,238.1794	45,290.1257	13,740.9354	239,735.8409
M&E - 1.50% - Landmark Select	—	—	4,478.4190	131,663.3932
M&E - 1.50% - Huntington Landmark	7,466.8103	1,759.3106	14,241.2883	406,494.5577
M&E - 1.50% - Landmark ML	11,794.7041	108,294.5228	52,893.1953	974,815.2230
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	150,065.5168	75,665.8270	124,802.1744	818,260.6066
M&E - 1.70% - Freedom	525,139.9790	1,005,468.5295	1,143,330.2422	5,206,256.1503
M&E - 1.80% - Landmark	702,990.7992	325,162.8634	945,823.1277	3,543,778.9921
M&E - 1.80% - Suntrust Landmark	—	—	—	8,691.7866
M&E - 1.80% - Landmark Select	—	—	—	115,525.5621
M&E - 1.80% - Huntington Landmark	367.9435	4,266.2421	—	281,341.6342
M&E - 1.80% - Landmark ML	1,665.8908	11,999.6430	49,221.9485	8,394.4171

See accompanying notes.

61

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP	Transamerica Van Kampen Active International Allocation VP	Transamerica Van Kampen Large Cap Core VP	Transamerica Money Market VP
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	74,521.6278	110,162.5103	329,807.4416	253,903.3099
M&E - 1.90% - Freedom	27,681.6312	138,862.0616	229,872.4281	399,264.6655
M&E - 1.95% - Landmark	—	—	—	1,578,466.2695
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	2,131,405.2534
M&E - 2.00% - Landmark	79,403.2775	55,234.4196	1,863.9361	440,000.1231
M&E - 2.00% - Suntrust Landmark	5,474.2413	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	203,157.7945	313,124.8228	284,783.1833	951,101.3161
M&E - 2.20% - Freedom	17,614.1002	327,745.8514	53,582.3139	927,845.4823
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	410,140.7295
M&E - 2.45% - Landmark	—	—	—	205,776.5242
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	29,874.1348
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

62

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP		Transamerica Van Kampen Active International Allocation VP		Transamerica Van Kampen Large Cap Core VP		Transamerica Money Market VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.491012	$	1.740389	$	1.316406	$	1.064264
M&E - 1.30% - Suntrust Landmark	$	1.491012	$	1.740389	$	1.316406	$	1.064264
M&E - 1.30% - Landmark Select	$	1.491012	$	1.740389	$	1.316406	$	1.064264
M&E - 1.30% - Huntington Landmark	$	0.869276	$	0.802074	$	0.843048	$	1.005428
M&E - 1.30% - Landmark ML	$	1.491012	$	1.740389	$	1.316406	$	1.064264
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.471490	$	1.717602	$	1.299201	$	1.050379
M&E - 1.50% - Suntrust Landmark	$	1.471490	$	1.717602	$	1.299201	$	1.050379
M&E - 1.50% - Landmark Select	$	1.471490	$	1.717602	$	1.299201	$	1.050379
M&E - 1.50% - Huntington Landmark	$	0.865334	$	0.798422	$	0.839207	$	1.000900
M&E - 1.50% - Landmark ML	$	1.471490	$	1.717602	$	1.299201	$	1.050379
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.457091	$	1.700800	$	1.286458	$	1.040052
M&E - 1.70% - Freedom	$	0.864603	$	0.886892	$	0.921209	$	1.037558
M&E - 1.80% - Landmark	$	1.442802	$	1.684119	$	1.273847	$	1.029906
M&E - 1.80% - Suntrust Landmark	$	1.442802	$	1.684119	$	1.273847	$	1.029906
M&E - 1.80% - Landmark Select	$	1.442802	$	1.684119	$	1.273847	$	1.029906
M&E - 1.80% - Huntington Landmark	$	0.859451	$	0.792999	$	0.833505	$	0.994079
M&E - 1.80% - Landmark ML	$	1.442802	$	1.684119	$	1.273847	$	1.029906

See accompanying notes.

63

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica T. Rowe Price Small Cap VP		Transamerica Van Kampen Active International Allocation VP		Transamerica Van Kampen Large Cap Core VP		Transamerica Money Market VP
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.438085	$	1.678627	$	1.269687	$	1.026507
M&E - 1.90% - Freedom	$	0.858378	$	0.880545	$	0.914578	$	1.030079
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	1.027323
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	0.981792
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	0.981792
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	0.981792
M&E - 2.00% - Landmark	$	1.424005	$	1.662230	$	1.257249	$	1.016514
M&E - 2.00% - Suntrust Landmark	$	1.424005	$	1.662230	$	1.257249	$	1.016514
M&E - 2.00% - Landmark Select	$	1.424005	$	1.662230	$	1.257249	$	1.016514
M&E - 2.00% - Huntington Landmark	$	0.855539	$	0.789402	$	0.829731	$	0.989604
M&E - 2.00% - Landmark ML	$	1.424005	$	1.662230	$	1.257249	$	1.016514
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.410149	$	1.645991	$	1.244984	$	1.006569
M&E - 2.20% - Freedom	$	0.849152	$	0.871065	$	0.904751	$	1.019041
M&E - 2.30% - Landmark	$	1.396380	$	1.629936	$	1.232849	$	0.996753
M&E - 2.30% - Suntrust Landmark	$	1.396380	$	1.629936	$	1.232849	$	0.996753
M&E - 2.30% - Landmark Select	$	1.396380	$	1.629936	$	1.232849	$	0.996753
M&E - 2.30% - Huntington Landmark	$	0.849760	$	0.784048	$	0.824114	$	0.982920
M&E - 2.30% - Landmark ML	$	1.396380	$	1.629936	$	1.232849	$	0.996753
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	0.974345
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	0.972509
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	0.972509
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	0.972509
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	0.972509

See accompanying notes.

64

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP		Transamerica International Moderate Growth VP - SC		Transamerica Small/Mid Cap Value VP		Transamerica Index 50 VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Assets
Investment in securities:
Number of shares - Initial		1,383,187.023		—		8,347,659.195		—
Cost	$	25,986,400	$	—	$	116,468,230	$	—
Number of shares - Service		138,108.273		16,551,171.843		193,335.753		5,133,025.678
Cost	$	2,821,011	$	149,466,008	$	2,795,968	$	45,006,290
Investments in mutual funds, Level 1 quoted prices at net asset value	$	33,153,231	$	139,691,890	$	137,826,524	$	49,277,047
Receivable for units sold		2		—		—		63
Total assets		33,153,233		139,691,890		137,826,524		49,277,110
Liabilities
Payable for units redeemed		—		112		3		—
	$	33,153,233	$	139,691,778	$	137,826,521	$	49,277,110
Net Assets:
Deferred annuity contracts terminable by owners	$	33,153,233	$	139,691,778	$	137,826,521	$	49,277,110
Total net assets	$	33,153,233	$	139,691,778	$	137,826,521	$	49,277,110

See accompanying notes.

65

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP	Transamerica International Moderate Growth VP - SC	Transamerica Small/Mid Cap Value VP	Transamerica Index 50 VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	2,995,825.8302	—	7,634,988.1707	—
M&E - 1.25% - Landmark ML	669,637.3293	—	1,794,312.7909	—
M&E - 1.25% - Freedom	12,360.6824	—	925,908.2801	—
M&E - 1.30% - Landmark	3,845,902.4370	—	735,668.0190	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	151,173.9313	—	63,758.6279	—
M&E - 1.40% - Landmark	1,557,250.2908	—	7,926,847.5184	—
M&E - 1.40% - Landmark ML	95,182.9324	—	1,885,082.3188	—
M&E - 1.40% - Freedom	140,924.1903	—	6,488,979.8234	—
M&E - 1.50% - Landmark	7,923,902.2513	—	18,422,100.5761	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	2,277,234.8861	—	5,844,942.0319	—
M&E - 1.50% - Freedom	116,002.7804	—	100,944.6782	—
M&E - 1.55% - Landmark	12,417,843.1984	—	1,011,550.2014	—
M&E - 1.55% - Landmark ML	2,382,182.9922	—	837,110.3155	—
M&E - 1.65% - Freedom	557,667.9732	—	731,597.5365	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

66

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP	Transamerica International Moderate Growth VP - SC	Transamerica Small/Mid Cap Value VP	Transamerica Index 50 VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

67

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP		Transamerica International Moderate Growth VP - SC		Transamerica Small/Mid Cap Value VP		Transamerica Index 50 VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.838670	$	—	$	1.686857	$	—
M&E - 1.25% - Landmark ML	$	0.838670	$	—	$	1.686857	$	—
M&E - 1.25% - Freedom	$	0.942178	$	—	$	0.920358	$	—
M&E - 1.30% - Landmark	$	1.134188	$	—	$	1.794580	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.134188	$	—	$	1.794580	$	—
M&E - 1.40% - Landmark	$	0.827922	$	—	$	5.396438	$	—
M&E - 1.40% - Landmark ML	$	0.827922	$	—	$	5.396438	$	—
M&E - 1.40% - Freedom	$	1.245886	$	—	$	1.489184	$	—
M&E - 1.50% - Landmark	$	0.820868	$	—	$	1.651190	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	0.820868	$	—	$	1.651190	$	—
M&E - 1.50% - Freedom	$	0.820868	$	—	$	4.960561	$	—
M&E - 1.55% - Landmark	$	0.817385	$	—	$	5.296667	$	—
M&E - 1.55% - Landmark ML	$	0.817385	$	—	$	5.297572	$	—
M&E - 1.65% - Freedom	$	0.810414	$	—	$	4.870210	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.092131	$	—	$	1.728017	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.092131	$	—	$	1.728017	$	—

See accompanying notes.

68

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP		Transamerica International Moderate Growth VP - SC		Transamerica Small/Mid Cap Value VP		Transamerica Index 50 VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.071732	$	—	$	1.695816	$	—
M&E - 2.05% - Landmark ML	$	1.071732	$	—	$	1.695816	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

69

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP	Transamerica International Moderate Growth VP - SC	Transamerica Small/Mid Cap Value VP	Transamerica Index 50 VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	568,218.5710	—	16,969.5161
M&E - 1.25% - Landmark ML	—	2,488.7461	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	985,753.4263	75,261,058.1618	1,873,102.1446	26,972,596.8517
M&E - 1.30% - Suntrust Landmark	37,091.1669	211,806.6210	—	—
M&E - 1.30% - Landmark Select	19,432.3881	883,739.8106	16,636.5952	88,012.9608
M&E - 1.30% - Huntington Landmark	42,925.5562	2,394,771.7929	52,331.0027	803,310.7901
M&E - 1.30% - Landmark ML	38,908.5960	9,546,101.7925	26,022.3084	950,901.2416
M&E - 1.40% - Landmark	—	118,787.2336	—	—
M&E - 1.40% - Landmark ML	—	77,970.5765	—	—
M&E - 1.40% - Freedom	—	117,482.9287	—	—
M&E - 1.50% - Landmark	481,395.1138	23,007,157.9478	700,801.3030	13,554,185.0234
M&E - 1.50% - Suntrust Landmark	17,996.4194	20,053.5120	—	—
M&E - 1.50% - Landmark Select	14,149.4773	256,091.7066	—	—
M&E - 1.50% - Huntington Landmark	32,165.5573	1,095,105.1062	19,788.4095	394,232.9747
M&E - 1.50% - Landmark ML	—	2,710,250.9987	165,426.1829	180,842.1220
M&E - 1.50% - Freedom	—	261,551.8786	—	—
M&E - 1.55% - Landmark	—	3,595,582.9908	—	173,654.5021
M&E - 1.55% - Landmark ML	—	440,331.0557	—	—
M&E - 1.65% - Freedom	55,188.1814	402,773.3825	3,971.4140	—
M&E - 1.70% - Freedom	275,521.7233	12,365,816.8912	350,757.3839	748,782.6376
M&E - 1.80% - Landmark	62,864.9574	11,959,488.9455	22,599.3763	1,804,911.9540
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	911,460.7750	—	—
M&E - 1.80% - Huntington Landmark	—	127,468.6081	—	40,701.5921
M&E - 1.80% - Landmark ML	—	1,232,088.9087	—	428,511.4036

See accompanying notes.

70

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP	Transamerica International Moderate Growth VP - SC	Transamerica Small/Mid Cap Value VP	Transamerica Index 50 VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	17,735.3367	29,209.3079	1,751.4802	3,823.5394
M&E - 1.90% - Freedom	27,347.9534	2,041,513.5467	13,539.4429	185,075.2147
M&E - 1.95% - Landmark	—	3,563,928.0781	—	4,772,916.6703
M&E - 1.95% - Landmark Select	—	50,570.9926	—	—
M&E - 1.95% - Huntington Landmark	—	21,201.9711	—	—
M&E - 1.95% - Landmark ML	—	447,997.0494	—	—
M&E - 2.00% - Landmark	15,674.9032	2,664,470.8783	13,148.5680	745,788.9962
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	20,212.6707	44,091.2801	—	—
M&E - 2.00% - Landmark ML	—	256,349.9918	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	26,581.1514	474,493.5494	49,205.0149	11,205.6405
M&E - 2.20% - Freedom	25,642.8975	536,162.4257	9,579.0755	—
M&E - 2.30% - Landmark	2,878.8837	12,119.3804	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	908,777.4194	—	109,564.3066
M&E - 2.45% - Landmark	—	19,091.0776	—	455,585.2167
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

71

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP		Transamerica International Moderate Growth VP - SC		Transamerica Small/Mid Cap Value VP		Transamerica Index 50 VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	0.888717	$	—	$	0.996462
M&E - 1.25% - Landmark ML	$	—	$	0.888717	$	—	$	0.942791
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	0.996462
M&E - 1.30% - Landmark	$	1.453041	$	0.887090	$	0.934838	$	0.942001
M&E - 1.30% - Suntrust Landmark	$	1.453041	$	0.887090	$	—	$	0.942001
M&E - 1.30% - Landmark Select	$	1.453041	$	0.887090	$	0.934838	$	0.942001
M&E - 1.30% - Huntington Landmark	$	0.910790	$	0.831661	$	0.934838	$	0.942001
M&E - 1.30% - Landmark ML	$	1.453041	$	0.887090	$	0.934838	$	0.942001
M&E - 1.40% - Landmark	$	—	$	0.883896	$	—	$	0.996289
M&E - 1.40% - Landmark ML	$	—	$	0.883896	$	—	$	0.940448
M&E - 1.40% - Freedom	$	—	$	0.883896	$	—	$	0.996289
M&E - 1.50% - Landmark	$	1.434038	$	0.880687	$	0.931271	$	0.938912
M&E - 1.50% - Suntrust Landmark	$	1.434038	$	0.880687	$	—	$	0.938912
M&E - 1.50% - Landmark Select	$	1.434038	$	0.880687	$	0.931271	$	0.938912
M&E - 1.50% - Huntington Landmark	$	0.906643	$	0.827868	$	0.931271	$	0.938912
M&E - 1.50% - Landmark ML	$	1.434038	$	0.880687	$	0.931271	$	0.938912
M&E - 1.50% - Freedom	$	—	$	0.880687	$	—	$	0.996170
M&E - 1.55% - Landmark	$	—	$	0.879106	$	—	$	0.996117
M&E - 1.55% - Landmark ML	$	—	$	0.879106	$	—	$	0.938137
M&E - 1.65% - Freedom	$	1.419987	$	0.875915	$	0.928586	$	0.936613
M&E - 1.70% - Freedom	$	0.989658	$	0.874362	$	0.927726	$	0.935839
M&E - 1.80% - Landmark	$	1.406099	$	0.871200	$	0.925936	$	0.934286
M&E - 1.80% - Suntrust Landmark	$	1.406099	$	0.871200	$	—	$	0.934286
M&E - 1.80% - Landmark Select	$	1.406099	$	0.871200	$	0.925936	$	0.934286
M&E - 1.80% - Huntington Landmark	$	0.900477	$	0.822246	$	0.925936	$	0.934286
M&E - 1.80% - Landmark ML	$	1.406099	$	0.871200	$	0.925936	$	0.934286

See accompanying notes.

72

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Van Kampen Mid-Cap Growth VP		Transamerica International Moderate Growth VP - SC		Transamerica Small/Mid Cap Value VP		Transamerica Index 50 VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.401446	$	0.869641	$	0.925057	$	0.933525
M&E - 1.90% - Freedom	$	0.982522	$	0.868064	$	0.924159	$	0.932770
M&E - 1.95% - Landmark	$	—	$	0.866493	$	0.923285	$	0.931999
M&E - 1.95% - Landmark Select	$	—	$	0.868514	$	—	$	0.931999
M&E - 1.95% - Huntington Landmark	$	—	$	0.868514	$	—	$	0.931999
M&E - 1.95% - Landmark ML	$	—	$	0.868514	$	—	$	0.931999
M&E - 2.00% - Landmark	$	1.387778	$	0.864938	$	0.922394	$	0.931235
M&E - 2.00% - Suntrust Landmark	$	1.387778	$	0.864938	$	—	$	0.931235
M&E - 2.00% - Landmark Select	$	1.387778	$	0.864938	$	0.922394	$	0.931235
M&E - 2.00% - Huntington Landmark	$	0.896384	$	0.818535	$	0.922394	$	0.931235
M&E - 2.00% - Landmark ML	$	1.387778	$	0.864938	$	0.922394	$	0.931235
M&E - 2.05% - Landmark	$	—	$	0.863371	$	—	$	0.995540
M&E - 2.05% - Landmark ML	$	—	$	0.863371	$	—	$	0.930482
M&E - 2.15% - Freedom	$	1.374217	$	0.860268	$	0.919767	$	0.928956
M&E - 2.20% - Freedom	$	0.971986	$	0.858728	$	0.918896	$	0.928203
M&E - 2.30% - Landmark	$	1.360817	$	0.855654	$	0.917145	$	0.926675
M&E - 2.30% - Suntrust Landmark	$	1.360817	$	0.855654	$	—	$	0.926675
M&E - 2.30% - Landmark Select	$	1.360817	$	0.855654	$	0.917145	$	0.926675
M&E - 2.30% - Huntington Landmark	$	0.890324	$	0.812994	$	0.917145	$	0.926675
M&E - 2.30% - Landmark ML	$	1.360817	$	0.855654	$	0.917145	$	0.926675
M&E - 2.35% - Freedom	$	—	$	0.861942	$	—	$	0.925927
M&E - 2.45% - Landmark	$	—	$	0.860297	$	—	$	0.924430
M&E - 2.45% - Landmark Select	$	—	$	0.860297	$	—	$	0.924430
M&E - 2.45% - Huntington Landmark	$	—	$	0.860297	$	—	$	0.924430
M&E - 2.45% - Landmark ML	$	—	$	0.860297	$	—	$	0.924430

See accompanying notes.

73

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC		Transamerica Value Balanced VP - SC		Transamerica Efficient Markets VP - SC		Transamerica BlackRock Global Allocation VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Assets
Investment in securities:
Number of shares - Initial		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Number of shares - Service		10,631,545.472		775,934.619		718,855.330		5,666,052.123
Cost	$	82,436,779	$	7,400,551	$	8,015,899	$	66,197,001
Investments in mutual funds, Level 1 quoted prices at net asset value	$	95,152,332	$	8,178,351	$	8,798,789	$	68,899,194
Receivable for units sold		89		3		4		1
Total assets		95,152,421		8,178,354		8,798,793		68,899,195
Liabilities
Payable for units redeemed		—		—		—		—
	$	95,152,421	$	8,178,354	$	8,798,793	$	68,899,195
Net Assets:
Deferred annuity contracts terminable by owners	$	95,152,421	$	8,178,354	$	8,798,793	$	68,899,195
Total net assets	$	95,152,421	$	8,178,354	$	8,798,793	$	68,899,195

See accompanying notes.

74

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC	Transamerica Value Balanced VP - SC	Transamerica Efficient Markets VP - SC	Transamerica BlackRock Global Allocation VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - .30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

75

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC	Transamerica Value Balanced VP - SC	Transamerica Efficient Markets VP - SC	Transamerica BlackRock Global Allocation VP - SC
	Subaccount	Subaccount	Subaccount	Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

76

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC		Transamerica Value Balanced VP - SC		Transamerica Efficient Markets VP - SC		Transamerica BlackRock Global Allocation VP - SC
	Subaccount		Subaccount		Subaccount		Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

77

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC Subaccount		Transamerica Value Balanced VP - SC Subaccount		Transamerica Efficient  Markets VP - SC Subaccount		Transamerica BlackRock Global Allocation VP -  SC Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

78

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC Subaccount	Transamerica Value Balanced VP - SC Subaccount	Transamerica Efficient Markets VP  - SC Subaccount	Transamerica BlackRock Global Allocation VP -  SC Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	107,314.2530
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	66,873,512.3183	5,695,939.3780	4,211,338.3221	28,085,032.1238
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	837,143.8725	—	—	—
M&E - 1.30% - Huntington Landmark	892,503.6981	26,754.2907	17,284.4733	990,580.4544
M&E - 1.30% - Landmark ML	2,657,019.6155	78,510.2395	90,586.0574	4,449,760.2760
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	708,205.1128
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	17,306,830.0449	1,456,982.8124	531,851.4055	4,602,981.6938
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	84,787.8667	—	—	—
M&E - 1.50% - Huntington Landmark	1,067,833.6600	—	—	291,448.6455
M&E - 1.50% - Landmark ML	984,132.7413	6,723.8828	53,648.9791	3,215,956.5457
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	17,990.5997	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	6,259,351.6807
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	5,259,673.8849	1,509,057.8414	78,807.4150	3,596,173.4495
M&E - 1.80% - Landmark	3,983,771.6347	138,095.0048	137,640.4999	3,315,301.5903
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	263,079.4411	—	—	156,368.1316
M&E - 1.80% - Landmark ML	38,496.6767	28,852.4346	—	329,123.0843

See accompanying notes.

79

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC Subaccount	Transamerica Value Balanced VP - SC Subaccount	Transamerica Efficient Markets VP  - SC Subaccount	Transamerica BlackRock Global Allocation VP -  SC Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	866,031.5925	—	9,805.4496	130,561.4941
M&E - 1.95% - Landmark	5,471,459.4530	229,203.5458	2,109,539.2325	—
M&E - 1.95% - Landmark Select	51,048.8378	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	147,110.7263	76,587.6183	36,603.5716	—
M&E - 2.00% - Landmark	1,109,171.3924	145,580.9548	25,040.0873	658,412.6449
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	20,064.7915	—	224,063.6972
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	4,305.5293	—	—	—
M&E - 2.20% - Freedom	—	—	—	116,933.3470
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	112,931.6562	—	2,045.1460	—
M&E - 2.45% - Landmark	448,930.5782	—	5,857.1517	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	17,585.9945	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

80

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC Subaccount		Transamerica Value Balanced VP - SC Subaccount		Transamerica Efficient  Markets VP - SC Subaccount		Transamerica BlackRock Global Allocation VP -  SC Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	0.999658	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	0.879543	$	0.871567	$	—	$	1.205169
M&E - 1.25% - Freedom	$	0.999658	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	0.878829	$	0.870860	$	1.206694	$	1.204759
M&E - 1.30% - Suntrust Landmark	$	0.878829	$	0.870860	$	0.995229	$	—
M&E - 1.30% - Landmark Select	$	0.878829	$	0.870860	$	1.206694	$	—
M&E - 1.30% - Huntington Landmark	$	0.878829	$	0.870860	$	1.206694	$	1.204759
M&E - 1.30% - Landmark ML	$	0.878829	$	0.870860	$	1.206694	$	1.204759
M&E - 1.40% - Landmark	$	0.999483	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	0.877381	$	0.869424	$	—	$	1.203969
M&E - 1.40% - Freedom	$	0.999483	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	0.875931	$	0.867991	$	1.203984	$	1.203183
M&E - 1.50% - Suntrust Landmark	$	0.875931	$	0.867991	$	0.994998	$	—
M&E - 1.50% - Landmark Select	$	0.875931	$	0.867991	$	1.203984	$	—
M&E - 1.50% - Huntington Landmark	$	0.875931	$	0.867991	$	1.203984	$	1.203183
M&E - 1.50% - Landmark ML	$	0.875931	$	0.867991	$	1.203984	$	1.203183
M&E - 1.50% - Freedom	$	0.999366	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	0.999308	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	0.875203	$	0.867276	$	—	$	1.202788
M&E - 1.65% - Freedom	$	0.873783	$	0.865845	$	1.201944	$	—
M&E - 1.70% - Freedom	$	0.873054	$	0.865150	$	1.201275	$	1.201597
M&E - 1.80% - Landmark	$	0.871619	$	0.863718	$	1.199928	$	1.200822
M&E - 1.80% - Suntrust Landmark	$	0.871619	$	0.863718	$	0.994650	$	—
M&E - 1.80% - Landmark Select	$	0.871619	$	0.863718	$	1.199928	$	—
M&E - 1.80% - Huntington Landmark	$	0.871619	$	0.863718	$	1.199928	$	1.200822
M&E - 1.80% - Landmark ML	$	0.871619	$	0.863718	$	1.199928	$	1.200822

See accompanying notes.

81

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Index 75 VP - SC Subaccount		Transamerica Value Balanced VP - SC Subaccount		Transamerica Efficient  Markets VP - SC Subaccount		Transamerica BlackRock Global Allocation VP -  SC Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	0.870910	$	0.863011	$	1.199258	$	—
M&E - 1.90% - Freedom	$	0.870203	$	0.862314	$	1.198589	$	1.200030
M&E - 1.95% - Landmark	$	0.869488	$	0.861611	$	1.197925	$	—
M&E - 1.95% - Landmark Select	$	0.869488	$	0.861611	$	1.197925	$	—
M&E - 1.95% - Huntington Landmark	$	0.869488	$	0.861611	$	1.197925	$	—
M&E - 1.95% - Landmark ML	$	0.869488	$	0.861611	$	1.197925	$	—
M&E - 2.00% - Landmark	$	0.868778	$	0.860905	$	1.197245	$	1.199247
M&E - 2.00% - Suntrust Landmark	$	0.868778	$	0.860905	$	0.994421	$	—
M&E - 2.00% - Landmark Select	$	0.868778	$	0.860905	$	1.197245	$	—
M&E - 2.00% - Huntington Landmark	$	0.868778	$	0.860905	$	1.197245	$	1.199247
M&E - 2.00% - Landmark ML	$	0.868778	$	0.860905	$	1.197245	$	1.199247
M&E - 2.05% - Landmark	$	0.998731	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	0.868056	$	0.860199	$	—	$	1.198851
M&E - 2.15% - Freedom	$	0.866647	$	0.858803	$	1.195259	$	—
M&E - 2.20% - Freedom	$	0.865935	$	0.858083	$	1.194573	$	1.197677
M&E - 2.30% - Landmark	$	0.864525	$	0.856670	$	1.193244	$	1.196900
M&E - 2.30% - Suntrust Landmark	$	0.864525	$	0.856670	$	0.994077	$	—
M&E - 2.30% - Landmark Select	$	0.864525	$	0.856670	$	1.193244	$	—
M&E - 2.30% - Huntington Landmark	$	0.864525	$	0.856670	$	1.193244	$	1.196900
M&E - 2.30% - Landmark ML	$	0.864525	$	0.856670	$	1.193244	$	1.196900
M&E - 2.35% - Freedom	$	0.863815	$	0.855991	$	1.192580	$	—
M&E - 2.45% - Landmark	$	0.862408	$	0.854585	$	1.191252	$	—
M&E - 2.45% - Landmark Select	$	0.862408	$	0.854585	$	1.191252	$	—
M&E - 2.45% - Huntington Landmark	$	0.862408	$	0.854585	$	1.191252	$	—
M&E - 2.45% - Landmark ML	$	0.862408	$	0.854585	$	1.191252	$	—

See accompanying notes.

82

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Tactical Allocation VP - SC Subaccount		Transamerica ProFunds  UltraBear VP - SC OAM Subaccount		Transamerica Foxhall Global Growth VP -  SC Subaccount		Transamerica Foxhall  Global Conservative VP - SC Subaccount
Assets
Investment in securities:
Number of shares - Initial		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Number of shares - Service		1,450,628.677		63,323.942		75,823.440		72,534.456
Cost	$	17,020,596	$	407,184	$	827,255	$	732,759
Investments in mutual funds, Level 1 quoted prices at net asset value	$	17,683,164	$	359,680	$	834,816	$	731,147
Receivable for units sold		8		—		—		—
Total assets		17,683,172		359,680		834,816		731,147
Liabilities
Payable for units redeemed		—		1		1		—
	$	17,683,172	$	359,679	$	834,815	$	731,147
Net Assets:
Deferred annuity contracts terminable by owners	$	17,683,172	$	359,679	$	834,815	$	731,147
Total net assets	$	17,683,172	$	359,679	$	834,815	$	731,147

See accompanying notes.

83

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Tactical Allocation VP - SC Subaccount	Transamerica ProFunds UltraBear VP  - SC OAM Subaccount	Transamerica Foxhall Global Growth VP -  SC Subaccount	Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

84

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Tactical Allocation VP - SC Subaccount	Transamerica ProFunds UltraBear VP  - SC OAM Subaccount	Transamerica Foxhall Global Growth VP -  SC Subaccount	Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

85

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Tactical Allocation VP - SC Subaccount		Transamerica ProFunds  UltraBear VP - SC OAM Subaccount		Transamerica Foxhall Global Growth VP -  SC Subaccount		Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

86

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Tactical Allocation VP - SC Subaccount		Transamerica ProFunds  UltraBear VP - SC OAM Subaccount		Transamerica Foxhall Global Growth VP -  SC Subaccount		Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

87

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Tactical Allocation VP - SC Subaccount	Transamerica ProFunds UltraBear VP  - SC OAM Subaccount	Transamerica Foxhall Global Growth VP -  SC Subaccount	Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	6,901,863.9723	355,021.8187	600,255.2501	478,314.4767
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	1,140,849.5428	40,860.8818	—	—
M&E - 1.30% - Landmark ML	384,164.9553	—	—	41,876.2356
M&E - 1.40% - Landmark	103,766.4107	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	1,621,280.9901	172,759.6060	220,925.3635	90,472.3314
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	252,877.5967	—	—	—
M&E - 1.50% - Landmark ML	184,223.1393	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	246,689.6197	—	—	—
M&E - 1.55% - Landmark ML	1,271.8740	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	403,876.2821	36,339.1460	3,706.1928	111,904.0357
M&E - 1.80% - Landmark	2,923,217.8861	34,220.2325	4,419.9150	14,571.4201
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	155,476.9137	—	—	—
M&E - 1.80% - Landmark ML	4,150.8623	—	—	—

See accompanying notes.

88

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock Tactical Allocation VP - SC Subaccount	Transamerica ProFunds UltraBear VP  - SC OAM Subaccount	Transamerica Foxhall Global Growth VP -  SC Subaccount	Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	39,945.9496	—	—	6,105.1090
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	328,853.9044	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	14,799.7266	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

89

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Tactical Allocation VP - SC Subaccount		Transamerica ProFunds  UltraBear VP - SC OAM Subaccount		Transamerica Foxhall Global Growth VP -  SC Subaccount		Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	1.003480	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	1.003480	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	1.003480	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.208532	$	0.563085	$	1.006710	$	0.983837
M&E - 1.30% - Suntrust Landmark	$	1.003418	$	—	$	1.006710	$	0.983837
M&E - 1.30% - Landmark Select	$	1.003418	$	—	$	1.006710	$	0.983837
M&E - 1.30% - Huntington Landmark	$	1.208532	$	0.563085	$	1.006710	$	0.983837
M&E - 1.30% - Landmark ML	$	1.208532	$	0.563085	$	1.006710	$	0.983837
M&E - 1.40% - Landmark	$	1.003303	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	1.003303	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	1.003303	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.206946	$	0.562345	$	1.006476	$	0.983612
M&E - 1.50% - Suntrust Landmark	$	1.003183	$	—	$	1.006476	$	0.983612
M&E - 1.50% - Landmark Select	$	1.003183	$	—	$	1.006476	$	0.983612
M&E - 1.50% - Huntington Landmark	$	1.206946	$	0.562345	$	1.006476	$	0.983612
M&E - 1.50% - Landmark ML	$	1.206946	$	0.562345	$	1.006476	$	0.983612
M&E - 1.50% - Freedom	$	1.003183	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	1.003130	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	1.003130	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.003010	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	1.205357	$	0.561600	$	1.006242	$	0.983383
M&E - 1.80% - Landmark	$	1.204569	$	0.561223	$	1.006125	$	0.983269
M&E - 1.80% - Suntrust Landmark	$	1.002838	$	—	$	1.006125	$	0.983269
M&E - 1.80% - Landmark Select	$	1.002838	$	—	$	1.006125	$	0.983269
M&E - 1.80% - Huntington Landmark	$	1.204569	$	0.561223	$	1.006125	$	0.983269
M&E - 1.80% - Landmark ML	$	1.204569	$	0.561223	$	1.006125	$	0.983269

See accompanying notes.

90

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica BlackRock  Tactical Allocation VP - SC Subaccount		Transamerica ProFunds  UltraBear VP - SC OAM Subaccount		Transamerica Foxhall Global Growth VP -  SC Subaccount		Transamerica Foxhall  Global Conservative VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.002778	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	1.203782	$	0.560855	$	1.006014	$	0.983154
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	0.983098
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	0.983098
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	0.983098
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	0.983098
M&E - 2.00% - Landmark	$	1.202998	$	0.560486	$	1.005897	$	0.983042
M&E - 2.00% - Suntrust Landmark	$	1.002607	$	—	$	1.005897	$	0.983042
M&E - 2.00% - Landmark Select	$	1.002607	$	—	$	1.005897	$	0.983042
M&E - 2.00% - Huntington Landmark	$	1.202998	$	0.560486	$	1.005897	$	0.983042
M&E - 2.00% - Landmark ML	$	1.202998	$	0.560486	$	1.005897	$	0.983042
M&E - 2.05% - Landmark	$	1.002548	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	1.002548	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.002432	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	1.201415	$	—	$	1.005660	$	0.982813
M&E - 2.30% - Landmark	$	1.200632	$	—	$	1.005546	$	0.982701
M&E - 2.30% - Suntrust Landmark	$	1.002258	$	—	$	1.005546	$	0.982701
M&E - 2.30% - Landmark Select	$	1.002258	$	—	$	1.005546	$	0.982701
M&E - 2.30% - Huntington Landmark	$	1.200632	$	—	$	1.005546	$	0.982701
M&E - 2.30% - Landmark ML	$	1.200632	$	—	$	1.005546	$	0.982701
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	0.982642
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	0.982531
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	0.982531
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	0.982531
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	0.982531

See accompanying notes.

91

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount		Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount		Transamerica Hanlon Growth VP - SC Subaccount		Transamerica Hanlon Growth and Income VP - SC Subaccount
Assets
Investment in securities:
Number of shares - Initial		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Number of shares - Service		138,599.298		180,153.767		52,604.142		34,871.187
Cost	$	1,436,563	$	1,947,405	$	595,685	$	394,469
Investments in mutual funds, Level 1 quoted prices at net asset value	$	1,431,731	$	1,970,882	$	604,948	$	398,229
Receivable for units sold		—		—		—		—
Total assets		1,431,731		1,970,882		604,948		398,229
Liabilities
Payable for units redeemed		—		—		1		—
	$	1,431,731	$	1,970,882	$	604,947	$	398,229
Net Assets:
Deferred annuity contracts terminable by owners	$	1,431,731	$	1,970,882	$	604,947	$	398,229
Total net assets	$	1,431,731	$	1,970,882	$	604,947	$	398,229

See accompanying notes.

92

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount	Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount	Transamerica Hanlon Growth VP - SC Subaccount	Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

93

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount	Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount	Transamerica Hanlon Growth VP - SC Subaccount	Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

94

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount		Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount		Transamerica Hanlon Growth VP - SC Subaccount		Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

95

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount		Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount		Transamerica Hanlon Growth VP - SC Subaccount		Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

96

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount	Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount	Transamerica Hanlon Growth VP - SC Subaccount	Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	1,111,447.3023	1,489,678.9590	361,705.4504	359,995.9811
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	8,015.0764	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	286,431.4498	385,379.9734	174,362.5225	26,955.7021
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	54,170.3453	67,253.7953	56,168.8692	—
M&E - 1.80% - Landmark	—	2,027.4992	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

97

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount	Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount	Transamerica Hanlon Growth VP - SC Subaccount	Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	2,461.6597
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

98

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount		Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount		Transamerica Hanlon Growth VP - SC Subaccount		Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	0.986069	$	1.009552	$	1.021578	$	1.022659
M&E - 1.30% - Suntrust Landmark	$	0.986069	$	1.009552	$	1.021578	$	1.022659
M&E - 1.30% - Landmark Select	$	0.986069	$	1.009552	$	1.021578	$	1.022659
M&E - 1.30% - Huntington Landmark	$	0.986069	$	1.009552	$	1.021578	$	1.022659
M&E - 1.30% - Landmark ML	$	0.986069	$	1.009552	$	1.021578	$	1.022659
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	0.985842	$	1.009319	$	1.021338	$	1.022422
M&E - 1.50% - Suntrust Landmark	$	0.985842	$	1.009319	$	1.021338	$	1.022422
M&E - 1.50% - Landmark Select	$	0.985842	$	1.009319	$	1.021338	$	1.022422
M&E - 1.50% - Huntington Landmark	$	0.985842	$	1.009319	$	1.021338	$	1.022422
M&E - 1.50% - Landmark ML	$	0.985842	$	1.009319	$	1.021338	$	1.022422
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	0.985611	$	1.009087	$	1.021103	$	1.022185
M&E - 1.80% - Landmark	$	0.985496	$	1.008970	$	1.020987	$	1.022067
M&E - 1.80% - Suntrust Landmark	$	0.985496	$	1.008970	$	1.020987	$	1.022067
M&E - 1.80% - Landmark Select	$	0.985496	$	1.008970	$	1.020987	$	1.022067
M&E - 1.80% - Huntington Landmark	$	0.985496	$	1.008970	$	1.020987	$	1.022067
M&E - 1.80% - Landmark ML	$	0.985496	$	1.008970	$	1.020987	$	1.022067

See accompanying notes.

99

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount		Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount		Transamerica Hanlon Growth VP - SC Subaccount		Transamerica Hanlon Growth and Income VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	0.985386	$	1.008852	$	1.020867	$	1.021949
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	0.985270	$	1.008739	$	1.020750	$	1.021832
M&E - 2.00% - Suntrust Landmark	$	0.985270	$	1.008739	$	1.020750	$	1.021832
M&E - 2.00% - Landmark Select	$	0.985270	$	1.008739	$	1.020750	$	1.021832
M&E - 2.00% - Huntington Landmark	$	0.985270	$	1.008739	$	1.020750	$	1.021832
M&E - 2.00% - Landmark ML	$	0.985270	$	1.008739	$	1.020750	$	1.021832
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	0.985042	$	1.008506	$	1.020512	$	1.021595
M&E - 2.30% - Landmark	$	0.984931	$	1.008390	$	1.020396	$	1.021477
M&E - 2.30% - Suntrust Landmark	$	0.984931	$	1.008390	$	1.020396	$	1.021477
M&E - 2.30% - Landmark Select	$	0.984931	$	1.008390	$	1.020396	$	1.021477
M&E - 2.30% - Huntington Landmark	$	0.984931	$	1.008390	$	1.020396	$	1.021477
M&E - 2.30% - Landmark ML	$	0.984931	$	1.008390	$	1.020396	$	1.021477
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

100

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount		Transamerica Hanlon Managed Income VP - SC Subaccount		Transamerica Index 35 VP - SC Subaccount		Transamerica Index 100 VP - SC Subaccount
Assets
Investment in securities:
Number of shares - Initial		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Number of shares - Service		102,395.077		865,097.003		20,661.716		29,028.977
Cost	$	1,149,552	$	9,572,051	$	207,472	$	296,965
Investments in mutual funds, Level 1 quoted prices at net asset value	$	1,165,256	$	9,585,275	$	206,617	$	297,837
Receivable for units sold		—		—		—		—
Total assets		1,165,256		9,585,275		206,617		297,837
Liabilities
Payable for units redeemed		1		2		—		—
	$	1,165,255	$	9,585,273	$	206,617	$	297,837
Net Assets:
Deferred annuity contracts terminable by owners	$	1,165,255	$	9,585,273	$	206,617	$	297,837
Total net assets	$	1,165,255	$	9,585,273	$	206,617	$	297,837

See accompanying notes.

101

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon  Balanced VP - SC Subaccount	Transamerica Hanlon Managed Income VP - SC Subaccount	Transamerica Index 35 VP - SC Subaccount	Transamerica Index 100 VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

102

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount	Transamerica Hanlon Managed Income VP - SC Subaccount	Transamerica Index 35 VP - SC Subaccount	Transamerica Index 100 VP - SC Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

103

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount		Transamerica Hanlon Managed Income VP - SC Subaccount		Transamerica Index 35 VP - SC Subaccount		Transamerica Index 100 VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

104

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount		Transamerica Hanlon Managed Income VP - SC Subaccount		Transamerica Index 35 VP - SC Subaccount		Transamerica Index 100 VP - SC Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

105

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount	Transamerica Hanlon Managed Income VP - SC Subaccount	Transamerica Index 35 VP - SC Subaccount	Transamerica Index 100 VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	835,274.5374	5,542,137.2946	176,781.5317	103,643.0502
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	174,804.9270	2,483,443.1333	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	2,988.3455	184,420.8402
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	7,241.3364	—
M&E - 1.70% - Freedom	131,413.3433	1,210,008.4087	—	2,721.9252
M&E - 1.80% - Landmark	—	22,274.3626	19,935.8862	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

106

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount	Transamerica Hanlon Managed Income VP - SC Subaccount	Transamerica Index 35 VP - SC Subaccount	Transamerica Index 100 VP - SC Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	291,366.3635	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

107

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount		Transamerica Hanlon Managed Income VP - SC Subaccount		Transamerica Index 35 VP - SC Subaccount		Transamerica Index 100 VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	0.998540	$	1.024505
M&E - 1.25% - Landmark ML	$	—	$	—	$	0.998540	$	1.024505
M&E - 1.25% - Freedom	$	—	$	—	$	0.998540	$	1.024505
M&E - 1.30% - Landmark	$	1.020908	$	1.003918	$	0.998480	$	1.024441
M&E - 1.30% - Suntrust Landmark	$	1.020908	$	1.003918	$	0.998480	$	1.024441
M&E - 1.30% - Landmark Select	$	1.020908	$	1.003918	$	0.998480	$	1.024441
M&E - 1.30% - Huntington Landmark	$	1.020908	$	1.003918	$	0.998480	$	1.024441
M&E - 1.30% - Landmark ML	$	1.020908	$	1.003918	$	0.998480	$	1.024441
M&E - 1.40% - Landmark	$	—	$	—	$	0.998364	$	1.024327
M&E - 1.40% - Landmark ML	$	—	$	—	$	0.998364	$	1.024327
M&E - 1.40% - Freedom	$	—	$	—	$	0.998364	$	1.024327
M&E - 1.50% - Landmark	$	1.020671	$	1.003681	$	0.998250	$	1.024203
M&E - 1.50% - Suntrust Landmark	$	1.020671	$	1.003681	$	0.998250	$	1.024203
M&E - 1.50% - Landmark Select	$	1.020671	$	1.003681	$	0.998250	$	1.024203
M&E - 1.50% - Huntington Landmark	$	1.020671	$	1.003681	$	0.998250	$	1.024203
M&E - 1.50% - Landmark ML	$	1.020671	$	1.003681	$	0.998250	$	1.024203
M&E - 1.50% - Freedom	$	—	$	—	$	0.998250	$	0.998250
M&E - 1.55% - Landmark	$	—	$	—	$	0.998190	$	1.024147
M&E - 1.55% - Landmark ML	$	—	$	—	$	0.998190	$	1.024147
M&E - 1.65% - Freedom	$	—	$	—	$	0.998075	$	1.024027
M&E - 1.70% - Freedom	$	1.020435	$	1.003452	$	0.998015	$	1.023968
M&E - 1.80% - Landmark	$	1.020318	$	1.003336	$	0.997901	$	1.023848
M&E - 1.80% - Suntrust Landmark	$	1.020318	$	1.003336	$	0.997901	$	1.023848
M&E - 1.80% - Landmark Select	$	1.020318	$	1.003336	$	0.997901	$	1.023848
M&E - 1.80% - Huntington Landmark	$	1.020318	$	1.003336	$	0.997901	$	1.023848
M&E - 1.80% - Landmark ML	$	1.020318	$	1.003336	$	0.997901	$	1.023848

See accompanying notes.

108

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica Hanlon Balanced VP - SC Subaccount		Transamerica Hanlon Managed Income VP - SC Subaccount		Transamerica Index 35 VP - SC Subaccount		Transamerica Index 100 VP - SC Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	0.997845	$	1.023790
M&E - 1.90% - Freedom	$	1.020195	$	1.003215	$	0.997783	$	1.023730
M&E - 1.95% - Landmark	$	—	$	—	$	0.997727	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	0.997727	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	0.997727	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	0.997727	$	—
M&E - 2.00% - Landmark	$	1.020080	$	1.003102	$	0.997673	$	1.023612
M&E - 2.00% - Suntrust Landmark	$	1.020080	$	1.003102	$	0.997673	$	1.023612
M&E - 2.00% - Landmark Select	$	1.020080	$	1.003102	$	0.997673	$	1.023612
M&E - 2.00% - Huntington Landmark	$	1.020080	$	1.003102	$	0.997673	$	1.023612
M&E - 2.00% - Landmark ML	$	1.020080	$	1.003102	$	0.997673	$	1.023612
M&E - 2.05% - Landmark	$	—	$	—	$	0.997612	$	1.023555
M&E - 2.05% - Landmark ML	$	—	$	—	$	0.997612	$	1.023555
M&E - 2.15% - Freedom	$	—	$	—	$	0.997500	$	1.023437
M&E - 2.20% - Freedom	$	1.019844	$	1.002869	$	0.997437	$	1.023376
M&E - 2.30% - Landmark	$	1.019726	$	1.002757	$	0.997328	$	1.023261
M&E - 2.30% - Suntrust Landmark	$	1.019726	$	1.002757	$	0.997328	$	1.023261
M&E - 2.30% - Landmark Select	$	1.019726	$	1.002757	$	0.997328	$	1.023261
M&E - 2.30% - Huntington Landmark	$	1.019726	$	1.002757	$	0.997328	$	1.023261
M&E - 2.30% - Landmark ML	$	1.019726	$	1.002757	$	0.997328	$	1.023261
M&E - 2.35% - Freedom	$	—	$	—	$	0.997267	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	0.997153	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	0.997153	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	0.997153	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	0.997153	$	—

See accompanying notes.

109

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount		AIM V.I. Basic  Value Subaccount		AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount
Assets
Investment in securities:
Number of shares - Initial		—		4,220,550.247		305,512.995		2,649,968.972
Cost	$	—	$	33,818,660	$	7,065,902	$	56,760,882
Number of shares - Service		7,217.092		—		—		—
Cost	$	79,189	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	80,471	$	25,112,274	$	6,110,260	$	39,961,532
Receivable for units sold		—		—		2		—
Total assets		80,471		25,112,274		6,110,262		39,961,532
Liabilities
Payable for units redeemed		1		32		—		9
	$	80,470	$	25,112,242	$	6,110,262	$	39,961,523
Net Assets:
Deferred annuity contracts terminable by owners	$	80,470	$	25,112,242	$	6,110,262	$	39,961,523
Total net assets	$	80,470	$	25,112,242	$	6,110,262	$	39,961,523

See accompanying notes.

110

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount	AIM V.I. Basic Value Subaccount	AIM V.I. Capital Appreciation Subaccount	AllianceBernstein Growth & Income Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	1,348,192.3282	162,620.6601	4,603,028.9211
M&E - 1.25% - Landmark ML	—	47,108.7293	12,230.1759	936,857.9239
M&E - 1.25% - Freedom	—	6,730.0384	—	—
M&E - 1.30% - Landmark	—	7,224,792.7667	2,076,548.1697	4,965,377.9722
M&E - 1.30% - Suntrust Landmark	—	284,209.5771	13,597.0246	—
M&E - 1.30% - Landmark Select	—	10,793.0796	28,501.1848	—
M&E - 1.30% - Huntington Landmark	—	105,562.8606	54,925.6619	18,875.0567
M&E - 1.30% - Landmark ML	—	468,956.4018	42,049.2295	382,750.1987
M&E - 1.40% - Landmark	—	380,857.6980	178,521.5143	1,062,378.7862
M&E - 1.40% - Landmark ML	—	212,769.7133	43,437.8647	409,151.1088
M&E - 1.40% - Freedom	—	66,106.2904	19.2863	396,438.1492
M&E - 1.50% - Landmark	—	2,290,968.5320	662,302.3399	12,213,587.1722
M&E - 1.50% - Suntrust Landmark	—	—	2,576.8092	6,034.5799
M&E - 1.50% - Landmark Select	—	11,687.2842	40,629.4777	40,593.5533
M&E - 1.50% - Huntington Landmark	—	—	2,760.7857	54,289.9027
M&E - 1.50% - Landmark ML	—	100,219.9817	29,825.4623	4,710,332.8587
M&E - 1.50% - Freedom	—	129,389.9688	15,062.5772	150,509.5446
M&E - 1.55% - Landmark	—	14,072,620.4727	2,921,980.5571	12,336,637.5269
M&E - 1.55% - Landmark ML	—	1,476,482.3625	468,124.5327	2,122,408.1215
M&E - 1.65% - Freedom	—	172,689.9061	80,741.4689	422,550.7593
M&E - 1.70% - Freedom	—	148,627.2553	107,629.8977	366,631.7514
M&E - 1.80% - Landmark	—	168,806.5481	12,305.4885	89,035.3363
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

111

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount	AIM V.I. Basic Value Subaccount	AIM V.I. Capital Appreciation Subaccount	AllianceBernstein Growth & Income Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	98,443.1214	2,141.4412	9,876.5539
M&E - 1.90% - Freedom	—	1,087.0208	25,988.4323	7,353.5405
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	2,076.0680	10,078.4128	6,670.3639
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	107,486.9877	—	239,492.3026
M&E - 2.20% - Freedom	—	—	—	137,891.6454
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

112

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount		AIM V.I. Basic Value Subaccount		AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	0.881600	$	0.891339	$	0.878204
M&E - 1.25% - Landmark ML	$	—	$	0.881600	$	0.891339	$	0.878204
M&E - 1.25% - Freedom	$	—	$	0.662709	$	0.705296	$	0.693596
M&E - 1.30% - Landmark	$	—	$	0.878240	$	0.887962	$	0.969833
M&E - 1.30% - Suntrust Landmark	$	—	$	0.878240	$	0.887962	$	0.969833
M&E - 1.30% - Landmark Select	$	—	$	0.878240	$	0.887962	$	0.969833
M&E - 1.30% - Huntington Landmark	$	—	$	0.689183	$	0.701060	$	0.707381
M&E - 1.30% - Landmark ML	$	—	$	0.878240	$	0.887962	$	0.969833
M&E - 1.40% - Landmark	$	—	$	0.871620	$	0.881256	$	0.867005
M&E - 1.40% - Landmark ML	$	—	$	0.871620	$	0.881256	$	0.867005
M&E - 1.40% - Freedom	$	—	$	0.850525	$	0.887145	$	0.918890
M&E - 1.50% - Landmark	$	—	$	0.865048	$	0.874606	$	0.859625
M&E - 1.50% - Suntrust Landmark	$	—	$	0.865048	$	0.874606	$	0.859625
M&E - 1.50% - Landmark Select	$	—	$	0.865048	$	0.874606	$	0.859625
M&E - 1.50% - Huntington Landmark	$	—	$	0.686050	$	0.697854	$	0.704181
M&E - 1.50% - Landmark ML	$	—	$	0.865048	$	0.874606	$	0.859625
M&E - 1.50% - Freedom	$	—	$	0.865048	$	0.874606	$	0.859625
M&E - 1.55% - Landmark	$	—	$	0.861770	$	0.871300	$	0.855967
M&E - 1.55% - Landmark ML	$	—	$	0.861770	$	0.871300	$	0.855967
M&E - 1.65% - Freedom	$	—	$	0.855291	$	0.864752	$	0.848695
M&E - 1.70% - Freedom	$	—	$	0.726689	$	0.724882	$	0.786609
M&E - 1.80% - Landmark	$	—	$	0.845657	$	0.855021	$	0.933832
M&E - 1.80% - Suntrust Landmark	$	—	$	0.845657	$	0.855021	$	0.933832
M&E - 1.80% - Landmark Select	$	—	$	0.845657	$	0.855021	$	0.933832
M&E - 1.80% - Huntington Landmark	$	—	$	0.681369	$	0.693113	$	0.699386
M&E - 1.80% - Landmark ML	$	—	$	0.845657	$	0.855021	$	0.933832

See accompanying notes.

113

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount		AIM V.I. Basic Value Subaccount		AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	1.096316	$	1.037518	$	1.119343
M&E - 1.90% - Freedom	$	—	$	0.721445	$	0.719664	$	0.780936
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	1.085592	$	1.027386	$	1.108421
M&E - 2.00% - Suntrust Landmark	$	—	$	1.085592	$	1.027386	$	1.108421
M&E - 2.00% - Landmark Select	$	—	$	1.085592	$	1.027386	$	1.108421
M&E - 2.00% - Huntington Landmark	$	—	$	0.678280	$	0.689966	$	0.696212
M&E - 2.00% - Landmark ML	$	—	$	1.085592	$	1.027386	$	1.108421
M&E - 2.05% - Landmark	$	—	$	0.829842	$	0.839037	$	0.916404
M&E - 2.05% - Landmark ML	$	—	$	0.829842	$	0.839037	$	0.916404
M&E - 2.15% - Freedom	$	—	$	1.074985	$	1.017376	$	1.097579
M&E - 2.20% - Freedom	$	—	$	0.713676	$	0.711919	$	0.772547
M&E - 2.30% - Landmark	$	—	$	1.064489	$	1.007445	$	1.086865
M&E - 2.30% - Suntrust Landmark	$	—	$	1.064489	$	1.007445	$	1.086865
M&E - 2.30% - Landmark Select	$	—	$	1.064489	$	1.007445	$	1.086865
M&E - 2.30% - Huntington Landmark	$	—	$	0.673685	$	0.685305	$	0.691504
M&E - 2.30% - Landmark ML	$	—	$	1.064489	$	1.007445	$	1.086865
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

114

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount	AIM V.I. Basic Value Subaccount	AIM V.I. Capital Appreciation Subaccount	AllianceBernstein Growth & Income Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	61,107.1074	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	15,768.1314	—	—	—
M&E - 1.55% - Landmark ML	1,264.9759	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

115

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount	AIM V.I. Basic Value Subaccount	AIM V.I. Capital Appreciation Subaccount	AllianceBernstein Growth & Income Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

116

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount		AIM V.I. Basic Value Subaccount		AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	1.029949	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	1.029949	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	1.029949	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.029886	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	1.029886	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	1.029886	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	1.029886	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	1.029886	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	1.029767	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	1.029767	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	1.029767	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.029652	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	1.029652	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	1.029652	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	1.029652	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	1.029652	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	1.029652	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	1.029587	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	1.029587	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	1.029468	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	1.029410	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	1.029290	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	1.029290	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	1.029290	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	1.029290	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	1.029290	$	—	$	—	$	—

See accompanying notes.

117

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Transamerica JPMorgan Mid Cap Value VP - SC Subaccount		AIM V.I. Basic Value Subaccount		AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	1.029234	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	1.029171	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.029054	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	1.029054	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	1.029054	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	1.029054	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	1.029054	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	1.028991	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	1.028991	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	1.028874	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	1.028818	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	1.028698	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	1.028698	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	1.028698	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	1.028698	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	1.028698	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

118

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount		Janus Aspen- Enterprise Subaccount		Janus Aspen Perkins- Mid Cap Value Subaccount
Assets
Investment in securities:
Number of shares - Initial		870,453.164		949,693.935		628,421.495		228,871.864
Cost	$	19,783,627	$	8,936,677	$	19,044,702	$	3,148,803
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	21,517,602	$	10,047,762	$	18,789,803	$	3,137,833
Receivable for units sold		23		—		—		—
Total assets		21,517,625		10,047,762		18,789,803		3,137,833
Liabilities
Payable for units redeemed		—		13		18		1
	$	21,517,625	$	10,047,749	$	18,789,785	$	3,137,832
Net Assets:
Deferred annuity contracts terminable by owners	$	21,517,625	$	10,047,749	$	18,789,785	$	3,137,832
Total net assets	$	21,517,625	$	10,047,749	$	18,789,785	$	3,137,832

See accompanying notes.

119

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount	AllianceBernstein Balanced Wealth Strategy Subaccount	Janus Aspen- Enterprise Subaccount	Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	1,601,860.7979	—	1,569,166.3898	443,893.8596
M&E - 1.25% - Landmark ML	499,795.1153	—	116,367.9518	21,455.2545
M&E - 1.25% - Freedom	—	—	5,092.8754	1,889.1944
M&E - 1.30% - Landmark	1,980,576.1002	4,221,944.0174	2,058,082.9000	—
M&E - 1.30% - Suntrust Landmark	—	—	19,330.3184	—
M&E - 1.30% - Landmark Select	12,209.8721	—	18,692.5888	—
M&E - 1.30% - Huntington Landmark	1,387.1216	41,217.2461	16,070.8432	—
M&E - 1.30% - Landmark ML	637,984.4467	127,718.8672	325,885.7144	—
M&E - 1.40% - Landmark	519,535.6919	—	2,690,143.8450	430,263.5066
M&E - 1.40% - Landmark ML	372,591.9038	—	146,980.8936	112,547.3553
M&E - 1.40% - Freedom	28,010.4607	—	196,520.4765	9,076.8842
M&E - 1.50% - Landmark	6,080,832.4219	1,834,244.0973	3,398,124.2572	514,013.8613
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	94,240.4532	—	1,156.4488	—
M&E - 1.50% - Landmark ML	3,481,196.9725	15,061.4781	739,292.8163	270,691.4415
M&E - 1.50% - Freedom	219,181.3715	—	69,931.0391	10,761.1145
M&E - 1.55% - Landmark	9,022,306.7197	—	9,896,647.6425	142,985.3086
M&E - 1.55% - Landmark ML	2,179,227.6343	—	1,846,665.5346	306,188.0027
M&E - 1.65% - Freedom	223,759.6590	—	674,811.3906	87,253.7266
M&E - 1.70% - Freedom	138,678.6426	240,848.4554	247,056.5678	—
M&E - 1.80% - Landmark	29,515.6429	231,591.5095	43,648.3414	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	357.8254	—	—	—
M&E - 1.80% - Landmark ML	—	8,028.9169	—	—

See accompanying notes.

120

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount	AllianceBernstein Balanced Wealth Strategy Subaccount	Janus Aspen- Enterprise Subaccount	Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	2,942.2858	—	1,779.2745	—
M&E - 1.90% - Freedom	3,971.9950	—	20,113.3759	—
M&E - 1.95% - Landmark	—	1,104,617.5347	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	63,727.3445	—	—
M&E - 2.00% - Landmark	9,740.9510	103,789.7003	10,954.2586	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	18,399.2355	—	—	—
M&E - 2.00% - Landmark ML	7,395.5488	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	186,754.0849	—	81,680.1573	—
M&E - 2.20% - Freedom	167,322.1108	—	10,258.2076	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	59,166.7670	—	—
M&E - 2.45% - Landmark	—	52,674.2260	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

121

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount		Janus Aspen- Enterprise Subaccount		Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.766396	$	—	$	1.019736	$	1.359661
M&E - 1.25% - Landmark ML	$	0.766396	$	—	$	1.019736	$	1.359661
M&E - 1.25% - Freedom	$	0.874638	$	—	$	0.864100	$	0.923874
M&E - 1.30% - Landmark	$	1.023151	$	1.242394	$	1.481994	$	—
M&E - 1.30% - Suntrust Landmark	$	1.023151	$	—	$	1.481994	$	—
M&E - 1.30% - Landmark Select	$	1.023151	$	1.242394	$	1.481994	$	—
M&E - 1.30% - Huntington Landmark	$	0.862730	$	1.242394	$	0.855860	$	—
M&E - 1.30% - Landmark ML	$	1.023151	$	1.242394	$	1.481994	$	—
M&E - 1.40% - Landmark	$	0.756619	$	—	$	0.525230	$	1.337220
M&E - 1.40% - Landmark ML	$	0.756619	$	—	$	0.525230	$	1.337220
M&E - 1.40% - Freedom	$	1.078218	$	—	$	1.342446	$	1.357615
M&E - 1.50% - Landmark	$	0.750174	$	1.239595	$	0.998153	$	1.330883
M&E - 1.50% - Suntrust Landmark	$	0.750174	$	—	$	0.998153	$	—
M&E - 1.50% - Landmark Select	$	0.750174	$	1.239595	$	0.998153	$	—
M&E - 1.50% - Huntington Landmark	$	0.858812	$	1.239595	$	0.851959	$	—
M&E - 1.50% - Landmark ML	$	0.750174	$	1.239595	$	0.998153	$	1.330883
M&E - 1.50% - Freedom	$	0.750174	$	—	$	0.570323	$	1.325106
M&E - 1.55% - Landmark	$	0.746965	$	—	$	0.567737	$	1.319144
M&E - 1.55% - Landmark ML	$	0.746965	$	—	$	0.567737	$	1.319144
M&E - 1.65% - Freedom	$	0.740617	$	1.237531	$	0.562599	$	1.307150
M&E - 1.70% - Freedom	$	0.881799	$	1.236838	$	0.983918	$	—
M&E - 1.80% - Landmark	$	0.985173	$	1.235456	$	1.427028	$	—
M&E - 1.80% - Suntrust Landmark	$	0.985173	$	—	$	1.427028	$	—
M&E - 1.80% - Landmark Select	$	0.985173	$	1.235456	$	1.427028	$	—
M&E - 1.80% - Huntington Landmark	$	0.852967	$	1.235456	$	0.846177	$	—
M&E - 1.80% - Landmark ML	$	0.985173	$	1.235456	$	1.427028	$	—

See accompanying notes.

122

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount		Janus Aspen- Enterprise Subaccount		Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	1.190673	$	1.234764	$	1.694991	$	—
M&E - 1.90% - Freedom	$	0.875466	$	1.234087	$	0.976820	$	—
M&E - 1.95% - Landmark	$	—	$	1.233390	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	1.233390	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	1.233390	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	1.233390	$	—	$	—
M&E - 2.00% - Landmark	$	1.179043	$	1.232706	$	1.678444	$	—
M&E - 2.00% - Suntrust Landmark	$	1.179043	$	—	$	1.678444	$	—
M&E - 2.00% - Landmark Select	$	1.179043	$	1.232706	$	1.678444	$	—
M&E - 2.00% - Huntington Landmark	$	0.849100	$	1.232706	$	0.842337	$	—
M&E - 2.00% - Landmark ML	$	1.179043	$	1.232706	$	1.678444	$	—
M&E - 2.05% - Landmark	$	0.966825	$	—	$	1.400411	$	—
M&E - 2.05% - Landmark ML	$	0.966825	$	—	$	1.400411	$	—
M&E - 2.15% - Freedom	$	1.167532	$	1.230654	$	1.662040	$	—
M&E - 2.20% - Freedom	$	0.866064	$	1.229961	$	0.966318	$	—
M&E - 2.30% - Landmark	$	1.156159	$	1.228584	$	1.645849	$	—
M&E - 2.30% - Suntrust Landmark	$	1.156159	$	—	$	1.645849	$	—
M&E - 2.30% - Landmark Select	$	1.156159	$	1.228584	$	1.645849	$	—
M&E - 2.30% - Huntington Landmark	$	0.843356	$	1.228584	$	0.836635	$	—
M&E - 2.30% - Landmark ML	$	1.156159	$	1.228584	$	1.645849	$	—
M&E - 2.35% - Freedom	$	—	$	1.227904	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	1.226543	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	1.226543	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	1.226543	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	1.226543	$	—	$	—

See accompanying notes.

123

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount	AllianceBernstein Balanced Wealth Strategy Subaccount	Janus Aspen- Enterprise Subaccount	Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

124

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount	AllianceBernstein Balanced Wealth Strategy Subaccount	Janus Aspen- Enterprise Subaccount	Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

125

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount		Janus Aspen- Enterprise Subaccount		Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

126

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount		Janus Aspen- Enterprise Subaccount		Janus Aspen Perkins- Mid Cap Value Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

127

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount		MFS New Discovery Subaccount		MFS Total Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Assets
Investment in securities:
Number of shares - Initial		1,367,338.828		1,875,843.318		3,668,304.888		8,607,289.192
Cost	$	40,394,656	$	23,798,853	$	70,382,778	$	232,892,490
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	35,455,096	$	24,479,755	$	63,388,308	$	174,641,898
Receivable for units sold		—		—		—		31
Total assets		35,455,096		24,479,755		63,388,308		174,641,929
Liabilities
Payable for units redeemed		14		—		2		—
	$	35,455,082	$	24,479,755	$	63,388,306	$	174,641,929
Net Assets:
Deferred annuity contracts terminable by owners	$	35,455,082	$	24,479,755	$	63,388,306	$	174,641,929
Total net assets	$	35,455,082	$	24,479,755	$	63,388,306	$	174,641,929

See accompanying notes.

128

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount	MFS New Discovery Subaccount	MFS Total Return Subaccount	Fidelity-VIP Contrafund® Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	2,547,712.3424	478,997.4225	1,148,186.0662	6,017,677.7107
M&E - 1.25% - Landmark ML	597,619.9813	67,440.1942	141,530.6809	904,593.5337
M&E - 1.25% - Freedom	67,651.5385	22,342.9186	48,063.5750	38,114.8850
M&E - 1.30% - Landmark	5,731,481.8225	4,157,288.1548	10,125,041.2315	23,780,857.5789
M&E - 1.30% - Suntrust Landmark	20,261.9156	2,036.0856	78,205.3673	268,646.2177
M&E - 1.30% - Landmark Select	66,012.0731	16,519.4040	150,924.2731	402,374.6147
M&E - 1.30% - Huntington Landmark	31,875.0869	17,467.9109	194,303.1049	358,038.9989
M&E - 1.30% - Landmark ML	437,079.8516	269,674.1173	598,236.8758	1,808,449.7951
M&E - 1.40% - Landmark	1,347,456.6655	828,197.5528	1,076,513.2652	5,297,430.3806
M&E - 1.40% - Landmark ML	362,438.8139	161,234.8028	328,881.1472	2,056,714.0784
M&E - 1.40% - Freedom	449,530.5597	89,120.2016	681,488.3460	1,718,034.3696
M&E - 1.50% - Landmark	9,024,505.6455	3,448,194.4360	5,416,682.9698	18,651,108.4902
M&E - 1.50% - Suntrust Landmark	—	18,132.1472	26,513.4326	24,558.8567
M&E - 1.50% - Landmark Select	16,659.7541	—	14,088.8371	11,189.9035
M&E - 1.50% - Huntington Landmark	42,677.1838	25,588.0475	89,372.1767	236,115.0664
M&E - 1.50% - Landmark ML	1,758,572.0804	198,781.1022	559,663.7968	3,473,488.2538
M&E - 1.50% - Freedom	217,213.5934	25,285.2151	348,195.9484	1,352,048.9774
M&E - 1.55% - Landmark	20,429,840.5583	9,651,130.2354	26,451,848.0696	61,139,525.5080
M&E - 1.55% - Landmark ML	3,596,813.2409	1,105,295.8497	2,070,128.6704	6,514,540.7551
M&E - 1.65% - Freedom	4,261,710.4044	260,249.5771	3,997,110.5972	7,154,851.0293
M&E - 1.70% - Freedom	243,199.7586	251,340.3638	679,769.1367	1,932,025.0444
M&E - 1.80% - Landmark	106,525.2406	126,642.0229	275,430.9026	727,552.3573
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	9,415.4591	4,436.2682
M&E - 1.80% - Landmark ML	—	—	—	48,273.3909

See accompanying notes.

129

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount	MFS New Discovery Subaccount	MFS Total  Return Subaccount	Fidelity-VIP Contrafund® Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	99,830.8247	15,951.4537	98,407.9550	113,040.2507
M&E - 1.90% - Freedom	22,656.2534	33,821.9045	59,511.7388	89,329.0914
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	23,411.3098	22,807.1411	48,365.3979	124,210.3797
M&E - 2.00% - Suntrust Landmark	—	—	—	25,947.0553
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	43,753.8953	—	—	41,240.2058
M&E - 2.00% - Landmark ML	—	—	—	6,057.9039
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	190,110.2700	148,887.1736	151,350.9937	544,766.0971
M&E - 2.20% - Freedom	23,468.2081	5,743.6343	16,460.8492	325,026.9310
M&E - 2.30% - Landmark	—	2,814.4659	—	3,623.4070
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

130

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount		MFS New  Discovery Subaccount		MFS Total  Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.751573	$	1.161385	$	1.180963	$	1.354615
M&E - 1.25% - Landmark ML	$	0.751573	$	1.161385	$	1.180963	$	1.354615
M&E - 1.25% - Freedom	$	0.739380	$	0.908059	$	0.876023	$	0.838051
M&E - 1.30% - Landmark	$	0.952525	$	1.156972	$	1.176500	$	1.379022
M&E - 1.30% - Suntrust Landmark	$	0.952525	$	1.156972	$	1.176500	$	1.379022
M&E - 1.30% - Landmark Select	$	0.952525	$	1.156972	$	1.176500	$	1.379022
M&E - 1.30% - Huntington Landmark	$	0.742880	$	0.936854	$	0.898898	$	0.809531
M&E - 1.30% - Landmark ML	$	0.952525	$	1.156972	$	1.176500	$	1.379022
M&E - 1.40% - Landmark	$	0.601096	$	1.148229	$	1.167604	$	1.125366
M&E - 1.40% - Landmark ML	$	0.541340	$	1.148229	$	1.167604	$	1.125366
M&E - 1.40% - Freedom	$	0.989907	$	1.161359	$	1.102006	$	1.217417
M&E - 1.50% - Landmark	$	0.735679	$	1.139562	$	1.158823	$	1.325944
M&E - 1.50% - Suntrust Landmark	$	0.735679	$	1.139562	$	1.158823	$	1.325944
M&E - 1.50% - Landmark Select	$	0.735679	$	1.139562	$	1.158823	$	1.325944
M&E - 1.50% - Huntington Landmark	$	0.739486	$	0.932579	$	0.894816	$	0.805840
M&E - 1.50% - Landmark ML	$	0.735679	$	1.139562	$	1.158823	$	1.325944
M&E - 1.50% - Freedom	$	0.595641	$	1.139562	$	1.158823	$	1.114693
M&E - 1.55% - Landmark	$	0.592948	$	1.135251	$	1.154449	$	1.109404
M&E - 1.55% - Landmark ML	$	0.592948	$	1.135251	$	1.154449	$	1.109404
M&E - 1.65% - Freedom	$	0.587549	$	1.126746	$	1.145761	$	1.098878
M&E - 1.70% - Freedom	$	0.872856	$	0.964471	$	0.966566	$	0.889158
M&E - 1.80% - Landmark	$	0.917171	$	1.114037	$	1.132857	$	1.327858
M&E - 1.80% - Suntrust Landmark	$	0.917171	$	1.114037	$	1.132857	$	1.327858
M&E - 1.80% - Landmark Select	$	0.917171	$	1.114037	$	1.132857	$	1.327858
M&E - 1.80% - Huntington Landmark	$	0.734453	$	0.926223	$	0.888734	$	0.800354
M&E - 1.80% - Landmark ML	$	0.917171	$	1.114037	$	1.132857	$	1.327858

See accompanying notes.

131

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount		MFS New  Discovery Subaccount		MFS Total  Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	1.196010	$	1.444279	$	1.214297	$	1.509722
M&E - 1.90% - Freedom	$	0.866567	$	0.957525	$	0.959602	$	0.882764
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.184350	$	1.430124	$	1.202404	$	1.494952
M&E - 2.00% - Suntrust Landmark	$	1.184350	$	1.430124	$	1.202404	$	1.494952
M&E - 2.00% - Landmark Select	$	1.184350	$	1.430124	$	1.202404	$	1.494952
M&E - 2.00% - Huntington Landmark	$	0.731122	$	0.922038	$	0.884700	$	0.796717
M&E - 2.00% - Landmark ML	$	1.184350	$	1.430124	$	1.202404	$	1.494952
M&E - 2.05% - Landmark	$	0.900081	$	1.093260	$	1.111728	$	1.303097
M&E - 2.05% - Landmark ML	$	0.900081	$	1.093260	$	1.111728	$	1.303097
M&E - 2.15% - Freedom	$	1.172770	$	1.416164	$	1.190685	$	1.480365
M&E - 2.20% - Freedom	$	0.857255	$	0.947224	$	0.949322	$	0.873279
M&E - 2.30% - Landmark	$	1.161339	$	1.402387	$	1.179051	$	1.465942
M&E - 2.30% - Suntrust Landmark	$	1.161339	$	1.402387	$	1.179051	$	1.465942
M&E - 2.30% - Landmark Select	$	1.161339	$	1.402387	$	1.179051	$	1.465942
M&E - 2.30% - Huntington Landmark	$	0.726179	$	0.915783	$	0.878717	$	0.791336
M&E - 2.30% - Landmark ML	$	1.161339	$	1.402387	$	1.179051	$	1.465942
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

132

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount	MFS New  Discovery Subaccount	MFS Total  Return Subaccount	Fidelity-VIP Contrafund® Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

133

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount	MFS New  Discovery Subaccount	MFS Total  Return Subaccount	Fidelity-VIP Contrafund® Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

134

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount		MFS New  Discovery Subaccount		MFS Total  Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

135

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Janus Aspen- Worldwide Subaccount		MFS New  Discovery Subaccount		MFS Total  Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

136

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount		Fidelity-VIP  Growth Subaccount		Fidelity-VIP  Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount
Assets
Investment in securities:
Number of shares - Initial		2,746,913.620		813,645.523		132,719.061		7,668,883.154
Cost	$	64,354,938	$	30,651,980	$	1,715,633	$	226,762,465
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	45,516,359	$	24,205,954	$	1,911,154	$	192,488,967
Receivable for units sold		—		27		—		53
Total assets		45,516,359		24,205,981		1,911,154		192,489,020
Liabilities
Payable for units redeemed		8		—		2		—
	$	45,516,351	$	24,205,981	$	1,911,152	$	192,489,020
Net Assets:
Deferred annuity contracts terminable by owners	$	45,516,351	$	24,205,981	$	1,911,152	$	192,489,020
Total net assets	$	45,516,351	$	24,205,981	$	1,911,152	$	192,489,020

See accompanying notes.

137

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount	Fidelity-VIP  Growth Subaccount	Fidelity-VIP Growth Opportunities Subaccount	Fidelity-VIP Mid Cap Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	2,473,212.0689	2,186,092.7600	277,453.7623	5,354,900.7129
M&E - 1.25% - Landmark ML	217,880.5470	132,761.2894	79,981.8611	668,937.1729
M&E - 1.25% - Freedom	19,540.3257	188,675.4000	140.2264	130,784.3964
M&E - 1.30% - Landmark	7,327,742.9170	5,138,681.7565	—	17,029,449.2799
M&E - 1.30% - Suntrust Landmark	139,529.2128	24,571.8226	—	238,246.5454
M&E - 1.30% - Landmark Select	210,790.5740	221,700.8467	—	209,385.9624
M&E - 1.30% - Huntington Landmark	98,591.3005	55,762.8863	—	344,755.1718
M&E - 1.30% - Landmark ML	486,168.0418	440,768.8297	—	844,962.5344
M&E - 1.40% - Landmark	1,534,495.1841	877,970.1605	29,312.6998	3,178,397.2151
M&E - 1.40% - Landmark ML	389,020.9662	469,911.0265	94,396.8471	1,820,582.9816
M&E - 1.40% - Freedom	324,106.7599	136,255.3171	12,469.0308	2,149,179.6420
M&E - 1.50% - Landmark	8,602,662.0923	5,506,005.7140	1,241,073.8538	18,790,047.4535
M&E - 1.50% - Suntrust Landmark	96,546.2525	251,838.3247	—	52,548.1377
M&E - 1.50% - Landmark Select	21,065.0099	18,717.6828	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	49,479.6639
M&E - 1.50% - Landmark ML	1,833,860.4119	995,030.4657	308,528.2988	3,523,499.9571
M&E - 1.50% - Freedom	452,350.6729	622,900.8362	7,198.4179	464,091.5322
M&E - 1.55% - Landmark	16,251,928.1025	11,232,669.5274	124,501.6677	40,024,858.6051
M&E - 1.55% - Landmark ML	3,073,775.8315	2,074,648.3603	260,184.2365	5,030,714.3006
M&E - 1.65% - Freedom	984,823.8074	593,690.5239	74,157.5228	3,181,919.7366
M&E - 1.70% - Freedom	214,300.6042	363,435.1143	—	1,013,808.2163
M&E - 1.80% - Landmark	364,857.0872	227,029.9452	—	970,335.3619
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	3,410.6053	—	—
M&E - 1.80% - Huntington Landmark	134.8575	—	—	17,592.9611
M&E - 1.80% - Landmark ML	9,588.8970	—	—	1,370.9103

See accompanying notes.

138

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount	Fidelity-VIP  Growth Subaccount	Fidelity-VIP Growth Opportunities Subaccount	Fidelity-VIP  Mid Cap Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	84,230.2232	2,478.4466	—	76,735.3362
M&E - 1.90% - Freedom	167,938.3015	556,322.8124	—	51,172.5751
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	1,696.0044	21,798.9443	—	70,194.5460
M&E - 2.00% - Suntrust Landmark	—	—	—	8,173.6198
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	44,280.3916	20,480.7040	—	39,994.6584
M&E - 2.00% - Landmark ML	—	—	—	4,734.8014
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	83,710.7730	94,671.9683	—	514,906.0851
M&E - 2.20% - Freedom	32,182.9417	24,943.6597	—	272,750.7957
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

139

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount		Fidelity-VIP  Growth Subaccount		Fidelity-VIP  Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.968848	$	0.719468	$	0.817352	$	1.865781
M&E - 1.25% - Landmark ML	$	0.968848	$	0.719468	$	0.817352	$	1.865781
M&E - 1.25% - Freedom	$	0.685479	$	0.781239	$	0.714448	$	0.876053
M&E - 1.30% - Landmark	$	1.030945	$	0.893030	$	—	$	1.744598
M&E - 1.30% - Suntrust Landmark	$	1.030945	$	0.893030	$	—	$	1.744598
M&E - 1.30% - Landmark Select	$	1.030945	$	0.893030	$	—	$	1.744598
M&E - 1.30% - Huntington Landmark	$	0.708169	$	0.715925	$	—	$	0.852606
M&E - 1.30% - Landmark ML	$	1.030945	$	0.893030	$	—	$	1.744598
M&E - 1.40% - Landmark	$	1.034630	$	0.710288	$	0.631473	$	1.899892
M&E - 1.40% - Landmark ML	$	1.034630	$	0.710288	$	0.631473	$	1.899892
M&E - 1.40% - Freedom	$	0.965701	$	0.923404	$	0.910178	$	1.446806
M&E - 1.50% - Landmark	$	0.948336	$	0.704251	$	0.800043	$	1.826305
M&E - 1.50% - Suntrust Landmark	$	0.948336	$	0.704251	$	—	$	1.826305
M&E - 1.50% - Landmark Select	$	0.948336	$	0.704251	$	—	$	1.826305
M&E - 1.50% - Huntington Landmark	$	0.704949	$	0.712682	$	—	$	0.848723
M&E - 1.50% - Landmark ML	$	0.948336	$	0.704251	$	0.800043	$	1.826305
M&E - 1.50% - Freedom	$	1.024801	$	0.704251	$	0.625457	$	1.881811
M&E - 1.55% - Landmark	$	1.019922	$	0.701231	$	0.622473	$	1.872854
M&E - 1.55% - Landmark ML	$	1.019922	$	0.701231	$	0.622473	$	1.872854
M&E - 1.65% - Freedom	$	1.010262	$	0.695259	$	0.616620	$	1.855115
M&E - 1.70% - Freedom	$	0.787750	$	0.820340	$	—	$	0.908666
M&E - 1.80% - Landmark	$	0.992706	$	0.859926	$	—	$	1.679865
M&E - 1.80% - Suntrust Landmark	$	0.992706	$	0.859926	$	—	$	1.679865
M&E - 1.80% - Landmark Select	$	0.992706	$	0.859926	$	—	$	1.679865
M&E - 1.80% - Huntington Landmark	$	0.700147	$	0.707834	$	—	$	0.842947
M&E - 1.80% - Landmark ML	$	0.992706	$	0.859926	$	—	$	1.679865

See accompanying notes.

140

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount		Fidelity-VIP  Growth Subaccount		Fidelity-VIP  Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	1.191040	$	1.101766	$	—	$	2.003663
M&E - 1.90% - Freedom	$	0.782082	$	0.814445	$	—	$	0.902106
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	1.179385	$	1.090989	$	—	$	1.984089
M&E - 2.00% - Suntrust Landmark	$	1.179385	$	1.090989	$	—	$	1.984089
M&E - 2.00% - Landmark Select	$	1.179385	$	1.090989	$	—	$	1.984089
M&E - 2.00% - Huntington Landmark	$	0.696980	$	0.704615	$	—	$	0.839130
M&E - 2.00% - Landmark ML	$	1.179385	$	1.090989	$	—	$	1.984089
M&E - 2.05% - Landmark	$	0.974207	$	0.843890	$	—	$	1.648564
M&E - 2.05% - Landmark ML	$	0.974207	$	0.843890	$	—	$	1.648564
M&E - 2.15% - Freedom	$	1.167869	$	1.080349	$	—	$	1.964731
M&E - 2.20% - Freedom	$	0.773660	$	0.805695	$	—	$	0.892420
M&E - 2.30% - Landmark	$	1.156483	$	1.069823	$	—	$	1.945547
M&E - 2.30% - Suntrust Landmark	$	1.156483	$	1.069823	$	—	$	1.945547
M&E - 2.30% - Landmark Select	$	1.156483	$	1.069823	$	—	$	1.945547
M&E - 2.30% - Huntington Landmark	$	0.692262	$	0.699841	$	—	$	0.833463
M&E - 2.30% - Landmark ML	$	1.156483	$	1.069823	$	—	$	1.945547
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

141

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount	Fidelity-VIP  Growth Subaccount	Fidelity-VIP Growth Opportunities Subaccount	Fidelity-VIP  Mid Cap Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

142

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount	Fidelity-VIP  Growth Subaccount	Fidelity-VIP Growth Opportunities Subaccount	Fidelity-VIP  Mid Cap Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

143

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount		Fidelity-VIP  Growth Subaccount		Fidelity-VIP  Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

144

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Equity- Income Subaccount		Fidelity-VIP  Growth Subaccount		Fidelity-VIP  Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

145

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount		Fidelity-VIP Balanced Subaccount		Franklin Income Securities Subaccount		Mutual Shares Securities Subaccount
Assets
Investment in securities:
Number of shares - Initial		6,722,174.166		1,333,085.631		2,053,630.432		668,470.225
Cost	$	69,297,190	$	14,566,096	$	27,527,875	$	8,943,965
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	52,231,293	$	17,650,054	$	28,997,262	$	9,746,296
Receivable for units sold		2		26		24		—
Total assets		52,231,295		17,650,080		28,997,286		9,746,296
Liabilities
Payable for units redeemed		—		—		—		1
	$	52,231,295	$	17,650,080	$	28,997,286	$	9,746,295
Net Assets:
Deferred annuity contracts terminable by owners	$	52,231,295	$	17,650,080	$	28,997,286	$	9,746,295
Total net assets	$	52,231,295	$	17,650,080	$	28,997,286	$	9,746,295

See accompanying notes.

146

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount	Fidelity-VIP Balanced Subaccount	Franklin Income Securities Subaccount	Mutual Shares Securities Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	1,568,415.5624	—	605,023.6391	488,924.1216
M&E - 1.25% - Landmark ML	103,853.7099	—	22,231.2637	1,999.1156
M&E - 1.25% - Freedom	321,966.4336	—	—	—
M&E - 1.30% - Landmark	10,479,516.2661	11,413,908.9390	7,033,802.4449	2,669,534.8845
M&E - 1.30% - Suntrust Landmark	133,888.2405	—	8,082.7793	22,801.1964
M&E - 1.30% - Landmark Select	15,227.3805	107,968.8168	74,540.1290	—
M&E - 1.30% - Huntington Landmark	17,072.0458	151,843.3473	160,409.2825	36,267.9275
M&E - 1.30% - Landmark ML	515,058.7437	1,267,104.0308	879,637.4264	216,135.1908
M&E - 1.40% - Landmark	787,878.8764	—	588,084.4557	354,034.0090
M&E - 1.40% - Landmark ML	297,835.1322	—	441,537.2123	115,188.8456
M&E - 1.40% - Freedom	443,546.8655	—	522,321.4596	165,994.4942
M&E - 1.50% - Landmark	5,033,377.8449	3,276,384.4441	5,083,015.3309	2,628,590.8515
M&E - 1.50% - Suntrust Landmark	11,054.2378	—	—	—
M&E - 1.50% - Landmark Select	3,921.2636	—	51,933.8433	—
M&E - 1.50% - Huntington Landmark	22,972.1716	128,702.0814	86,102.8660	75,486.5310
M&E - 1.50% - Landmark ML	500,757.2738	105,870.3180	464,491.6239	64,168.9062
M&E - 1.50% - Freedom	434,208.5411	—	205,627.7184	7,247.5996
M&E - 1.55% - Landmark	19,513,547.2121	—	10,220,074.6781	4,620,400.2333
M&E - 1.55% - Landmark ML	2,098,125.5492	—	1,172,505.5097	233,028.1970
M&E - 1.65% - Freedom	1,743,605.9163	—	1,286,158.7459	279,220.6969
M&E - 1.70% - Freedom	440,228.3390	917,997.5726	1,900,072.5343	679,484.8945
M&E - 1.80% - Landmark	121,456.0473	334,924.5869	977,072.0493	373,958.0767
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	41,956.1188	—	19,547.7026
M&E - 1.80% - Landmark ML	1,806.9705	192,782.7224	12,447.1644	3,957.0980

See accompanying notes.

147

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount	Fidelity-VIP Balanced Subaccount	Franklin  Income Securities Subaccount	Mutual  Shares Securities Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	133,789.3128	—	183,588.2222	4,996.3588
M&E - 1.90% - Freedom	139,934.7273	78,165.4443	36,920.6271	14,373.9089
M&E - 1.95% - Landmark	—	708,333.2506	—	—
M&E - 1.95% - Landmark Select	—	50,664.9243	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	181,968.8568	—	—
M&E - 2.00% - Landmark	27,653.3524	121,447.3431	149,924.4496	32,958.2123
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	33,861.5397	21,490.5267
M&E - 2.00% - Landmark ML	—	85,199.5663	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	318,662.0574	—	36,481.4121	—
M&E - 2.20% - Freedom	42,267.1089	—	32,778.4282	—
M&E - 2.30% - Landmark	—	5,864.7992	12,934.5187	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	210,572.3838	—	—
M&E - 2.45% - Landmark	—	52,520.2927	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

148

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount		Fidelity-VIP Balanced Subaccount		Franklin  Income Securities Subaccount		Mutual Shares Securities Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	1.180361	$	—	$	0.903723	$	0.746489
M&E - 1.25% - Landmark ML	$	1.180361	$	0.910832	$	0.903723	$	0.746489
M&E - 1.25% - Freedom	$	0.694130	$	—	$	0.903723	$	0.746489
M&E - 1.30% - Landmark	$	1.175913	$	0.910073	$	0.902535	$	0.745500
M&E - 1.30% - Suntrust Landmark	$	1.175913	$	0.910073	$	0.902535	$	0.745500
M&E - 1.30% - Landmark Select	$	1.175913	$	0.910073	$	0.902535	$	0.745500
M&E - 1.30% - Huntington Landmark	$	0.736273	$	0.910073	$	0.931177	$	0.781025
M&E - 1.30% - Landmark ML	$	1.175913	$	0.910073	$	0.902535	$	0.745500
M&E - 1.40% - Landmark	$	1.167052	$	—	$	0.900151	$	0.743536
M&E - 1.40% - Landmark ML	$	1.167052	$	0.908581	$	0.900151	$	0.743536
M&E - 1.40% - Freedom	$	0.995655	$	—	$	0.900151	$	0.743536
M&E - 1.50% - Landmark	$	1.158245	$	0.907083	$	0.897800	$	0.741580
M&E - 1.50% - Suntrust Landmark	$	1.158245	$	0.907083	$	0.897800	$	0.741580
M&E - 1.50% - Landmark Select	$	1.158245	$	0.907083	$	0.897800	$	0.741580
M&E - 1.50% - Huntington Landmark	$	0.732907	$	0.907083	$	0.926929	$	0.777478
M&E - 1.50% - Landmark ML	$	1.158245	$	0.907083	$	0.897800	$	0.741580
M&E - 1.50% - Freedom	$	1.158245	$	—	$	0.897800	$	0.741580
M&E - 1.55% - Landmark	$	1.153874	$	—	$	0.896617	$	0.740603
M&E - 1.55% - Landmark ML	$	1.153874	$	0.906333	$	0.896617	$	0.740603
M&E - 1.65% - Freedom	$	1.145202	$	0.904846	$	0.894268	$	0.738651
M&E - 1.70% - Freedom	$	0.813664	$	0.904091	$	0.893086	$	0.737697
M&E - 1.80% - Landmark	$	1.132287	$	0.902620	$	0.890743	$	0.735749
M&E - 1.80% - Suntrust Landmark	$	1.132287	$	0.902620	$	0.890743	$	0.735749
M&E - 1.80% - Landmark Select	$	1.132287	$	0.902620	$	0.890743	$	0.735749
M&E - 1.80% - Huntington Landmark	$	0.727935	$	0.902620	$	0.920628	$	0.772176
M&E - 1.80% - Landmark ML	$	1.132287	$	0.902620	$	0.890743	$	0.735749

See accompanying notes.

149

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount		Fidelity-VIP Balanced Subaccount		Franklin  Income Securities Subaccount		Mutual Shares Securities Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	1.442325	$	0.901874	$	0.889558	$	0.734780
M&E - 1.90% - Freedom	$	0.807801	$	0.901140	$	0.888410	$	0.733813
M&E - 1.95% - Landmark	$	—	$	0.900399	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	0.900399	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	0.900399	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	0.900399	$	—	$	—
M&E - 2.00% - Landmark	$	1.428212	$	0.899667	$	0.886076	$	0.731897
M&E - 2.00% - Suntrust Landmark	$	1.428212	$	0.899667	$	0.886076	$	0.731897
M&E - 2.00% - Landmark Select	$	1.428212	$	0.899667	$	0.886076	$	0.731897
M&E - 2.00% - Huntington Landmark	$	0.724622	$	0.899667	$	0.916469	$	0.768699
M&E - 2.00% - Landmark ML	$	1.428212	$	0.899667	$	0.886076	$	0.731897
M&E - 2.05% - Landmark	$	1.111150	$	—	$	0.884913	$	0.730930
M&E - 2.05% - Landmark ML	$	1.111150	$	0.898925	$	0.884913	$	0.730930
M&E - 2.15% - Freedom	$	1.414285	$	0.897454	$	0.882623	$	0.729031
M&E - 2.20% - Freedom	$	0.799135	$	0.896724	$	0.881467	$	0.728066
M&E - 2.30% - Landmark	$	1.400499	$	0.895254	$	0.879150	$	0.726181
M&E - 2.30% - Suntrust Landmark	$	1.400499	$	0.895254	$	0.879150	$	0.726181
M&E - 2.30% - Landmark Select	$	1.400499	$	0.895254	$	0.879150	$	0.726181
M&E - 2.30% - Huntington Landmark	$	0.719724	$	0.895254	$	0.910267	$	0.763493
M&E - 2.30% - Landmark ML	$	1.400499	$	0.895254	$	0.879150	$	0.726181
M&E - 2.35% - Freedom	$	—	$	0.894518	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	0.893065	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	0.893065	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	0.893065	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	0.893065	$	—	$	—

See accompanying notes.

150

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount	Fidelity-VIP Balanced Subaccount	Franklin  Income Securities Subaccount	Mutual  Shares Securities Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

151

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount	Fidelity-VIP Balanced Subaccount	Franklin  Income Securities Subaccount	Mutual  Shares Securities Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

152

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount		Fidelity-VIP Balanced Subaccount		Franklin  Income Securities Subaccount		Mutual Shares Securities Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

153

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Fidelity-VIP  Value Strategies Subaccount		Fidelity-VIP Balanced Subaccount		Franklin  Income Securities Subaccount		Mutual Shares Securities Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

154

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton  Foreign Securities Subaccount		Franklin Templeton Founding Funds Allocation Subaccount		American Funds – Asset Allocation Fund Subaccount		American Funds – Bond Fund Subaccount
Assets
Investment in securities:
Number of shares - Initial		2,296,713.736		3,578,247.271		50,764.073		49,011.066
Cost	$	29,953,226	$	22,537,320	$	743,839	$	504,642
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	30,890,800	$	25,548,686	$	743,694	$	501,383
Receivable for units sold		20		3		1		—
Total assets		30,890,820		25,548,689		743,695		501,383
Liabilities
Payable for units redeemed		—		—		—		—
	$	30,890,820	$	25,548,689	$	743,695	$	501,383
Net Assets:
Deferred annuity contracts terminable by owners	$	30,890,820	$	25,548,689	$	743,695	$	501,383
Total net assets	$	30,890,820	$	25,548,689	$	743,695	$	501,383

See accompanying notes.

155

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount	Franklin Templeton Founding Funds Allocation Subaccount	American Funds - Asset Allocation Fund Subaccount	American Funds - Bond Fund Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	1,348,728.1791	—	—	—
M&E - 1.25% - Landmark ML	213,131.2016	—	—	—
M&E - 1.25% - Freedom	3,868.4498	—	—	—
M&E - 1.30% - Landmark	5,594,797.3568	10,440,662.5445	269,768.1738	256,270.8911
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	22,291.2032	47,534.5406	—	—
M&E - 1.30% - Huntington Landmark	49,762.4736	354,008.6010	16,227.5097	11,828.2322
M&E - 1.30% - Landmark ML	346,786.4113	380,394.1545	6,721.4514	—
M&E - 1.40% - Landmark	1,579,289.2767	—	—	—
M&E - 1.40% - Landmark ML	510,659.0872	—	—	—
M&E - 1.40% - Freedom	413,261.3060	—	—	—
M&E - 1.50% - Landmark	4,677,807.7133	3,962,360.5799	342,751.3750	150,622.3716
M&E - 1.50% - Suntrust Landmark	11,809.2376	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	58,886.2569	69,621.9288	—	—
M&E - 1.50% - Landmark ML	370,650.2983	175,139.0126	—	—
M&E - 1.50% - Freedom	47,206.2493	—	—	—
M&E - 1.55% - Landmark	16,704,737.8524	—	—	—
M&E - 1.55% - Landmark ML	1,202,403.6819	—	—	—
M&E - 1.65% - Freedom	772,731.4854	5,753.0277	—	—
M&E - 1.70% - Freedom	1,107,019.6614	1,100,688.8431	78,055.6308	63,418.3689
M&E - 1.80% - Landmark	540,806.6376	889,794.3533	14,254.2687	10,772.6885
M&E - 1.80% - Suntrust Landmark	39,003.7547	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	177.8070	2,631.5718	—	—
M&E - 1.80% - Landmark ML	9,018.1256	19,094.0788	—	—

See accompanying notes.

156

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount	Franklin Templeton Founding Funds Allocation Subaccount	American Funds - Asset Allocation Fund Subaccount	American Funds - Bond Fund Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	185,896.3991	1,235.8708	—	—
M&E - 1.90% - Freedom	77,842.9337	16,095.1241	—	—
M&E - 1.95% - Landmark	—	1,649,520.5940	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	510,576.8251	—	—
M&E - 2.00% - Landmark	8,344.3126	314,913.5654	9,853.1293	11,523.3636
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	39,581.4062	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	58,184.9342	—	—	—
M&E - 2.20% - Freedom	497,986.5769	—	—	—
M&E - 2.30% - Landmark	3,605.2898	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	56,305.8858	—	—
M&E - 2.45% - Landmark	—	121,575.6754	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

157

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount		Franklin Templeton Founding Funds Allocation Subaccount		American Funds - Asset Allocation Fund Subaccount		American Funds - Bond Fund Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	0.852876	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	0.852876	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	0.852876	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	0.851754	$	1.269985	$	1.008398	$	0.994105
M&E - 1.30% - Suntrust Landmark	$	0.851754	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	0.851754	$	1.269985	$	1.008398	$	0.994105
M&E - 1.30% - Huntington Landmark	$	0.873260	$	1.269985	$	1.008398	$	0.994105
M&E - 1.30% - Landmark ML	$	0.851754	$	1.269985	$	1.008398	$	0.994105
M&E - 1.40% - Landmark	$	0.849508	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	0.849508	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	0.850630	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	0.847271	$	1.267151	$	1.008165	$	0.993876
M&E - 1.50% - Suntrust Landmark	$	0.847271	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	0.847271	$	1.267151	$	1.008165	$	0.993876
M&E - 1.50% - Huntington Landmark	$	0.869281	$	1.267151	$	1.008165	$	0.993876
M&E - 1.50% - Landmark ML	$	0.847271	$	1.267151	$	1.008165	$	0.993876
M&E - 1.50% - Freedom	$	0.847271	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	0.846164	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	0.846164	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	0.843928	$	1.265010	$	—	$	—
M&E - 1.70% - Freedom	$	0.842826	$	1.264301	$	1.007931	$	0.993644
M&E - 1.80% - Landmark	$	0.840606	$	1.262890	$	1.007817	$	0.993531
M&E - 1.80% - Suntrust Landmark	$	0.840606	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	0.840606	$	1.262890	$	1.007817	$	0.993531
M&E - 1.80% - Huntington Landmark	$	0.863365	$	1.262890	$	1.007817	$	0.993531
M&E - 1.80% - Landmark ML	$	0.840606	$	1.262890	$	1.007817	$	0.993531

See accompanying notes.

158

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount		Franklin Templeton Founding Funds Allocation Subaccount		American Funds - Asset Allocation Fund Subaccount		American Funds - Bond Fund Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	0.839500	$	1.262175	$	—	$	—
M&E - 1.90% - Freedom	$	0.838401	$	1.261486	$	1.007699	$	0.993413
M&E - 1.95% - Landmark	$	—	$	1.260784	$	1.007640	$	0.993361
M&E - 1.95% - Landmark Select	$	—	$	1.260784	$	1.007640	$	0.993361
M&E - 1.95% - Huntington Landmark	$	—	$	1.260784	$	1.007640	$	0.993361
M&E - 1.95% - Landmark ML	$	—	$	1.260784	$	1.007640	$	0.993361
M&E - 2.00% - Landmark	$	0.836210	$	1.260066	$	1.007586	$	0.993302
M&E - 2.00% - Suntrust Landmark	$	0.836210	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	0.836210	$	1.260066	$	1.007586	$	0.993302
M&E - 2.00% - Huntington Landmark	$	0.859465	$	1.260066	$	1.007586	$	0.993302
M&E - 2.00% - Landmark ML	$	0.836210	$	1.260066	$	1.007586	$	0.993302
M&E - 2.05% - Landmark	$	0.835113	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	0.835113	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	0.832934	$	1.257960	$	—	$	—
M&E - 2.20% - Freedom	$	0.831865	$	1.257278	$	1.007351	$	0.993075
M&E - 2.30% - Landmark	$	0.829687	$	1.255873	$	1.007237	$	0.992961
M&E - 2.30% - Suntrust Landmark	$	0.829687	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	0.829687	$	1.255873	$	1.007237	$	0.992961
M&E - 2.30% - Huntington Landmark	$	0.853633	$	1.255873	$	1.007237	$	0.992961
M&E - 2.30% - Landmark ML	$	0.829687	$	1.255873	$	1.007237	$	0.992961
M&E - 2.35% - Freedom	$	—	$	1.255171	$	1.007176	$	0.992900
M&E - 2.45% - Landmark	$	—	$	1.253768	$	1.007062	$	0.992791
M&E - 2.45% - Landmark Select	$	—	$	1.253768	$	1.007062	$	0.992791
M&E - 2.45% - Huntington Landmark	$	—	$	1.253768	$	1.007062	$	0.992791
M&E - 2.45% - Landmark ML	$	—	$	1.253768	$	1.007062	$	0.992791

See accompanying notes.

159

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount	Franklin Templeton Founding Funds Allocation Subaccount	American Funds - Asset Allocation Fund Subaccount	American Funds - Bond Fund Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

160

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount	Franklin Templeton Founding Funds Allocation Subaccount	American Funds - Asset Allocation Fund Subaccount	American Funds - Bond Fund Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

161

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount		Franklin Templeton Founding Funds Allocation Subaccount		American Funds - Asset Allocation Fund Subaccount		American Funds - Bond Fund Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

162

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Templeton Foreign Securities Subaccount		Franklin Templeton Founding Funds Allocation Subaccount		American Funds - Asset Allocation Fund Subaccount		American Funds - Bond Fund Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

163

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount		American Funds  – Growth–Income Fund Subaccount		American Funds – International Fund Subaccount		GE Investments Total Return Fund Subaccount
Assets
Investment in securities:
Number of shares - Initial		4,790.413		2,571.855		4,546.573		10,448.257
Cost	$	220,110	$	80,055	$	77,377	$	158,515
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	220,838	$	80,190	$	77,792	$	158,291
Receivable for units sold		—		—		—		1
Total assets		220,838		80,190		77,792		158,292
Liabilities
Payable for units redeemed		—		—		—		—
	$	220,838	$	80,190	$	77,792	$	158,292
Net Assets:
Deferred annuity contracts terminable by owners	$	220,838	$	80,190	$	77,792	$	158,292
Total net assets	$	220,838	$	80,190	$	77,792	$	158,292

See accompanying notes.

164

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount	American Funds  – Growth–Income Fund Subaccount	American Funds – International Fund Subaccount	GE Investments Total Return Fund Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	191,615.6587	58,438.6371	30,877.1055	109,575.2835
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	3,161.0766	12,147.5275	—
M&E - 1.30% - Landmark ML	—	—	—	522.8439
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	28,512.5400	17,907.1862	36,301.7972	2,605.9607
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	32,520.3345
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	12,456.9860

See accompanying notes.

165

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount	American Funds  – Growth–Income Fund Subaccount	American Funds – International Fund Subaccount	GE Investments Total Return Fund Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

166

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount		American Funds  – Growth–Income Fund Subaccount		American Funds – International Fund Subaccount		GE Investments Total Return Fund Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	1.003254	$	1.008648	$	0.980758	$	1.004036
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	1.003254	$	1.008648	$	0.980758	$	1.004036
M&E - 1.30% - Huntington Landmark	$	1.003254	$	1.008648	$	0.980758	$	1.004036
M&E - 1.30% - Landmark ML	$	1.003254	$	1.008648	$	0.980758	$	1.004036
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	1.003022	$	1.008415	$	0.980531	$	1.003804
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	1.003022	$	1.008415	$	0.980531	$	1.003804
M&E - 1.50% - Huntington Landmark	$	1.003022	$	1.008415	$	0.980531	$	1.003804
M&E - 1.50% - Landmark ML	$	1.003022	$	1.008415	$	0.980531	$	1.003804
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	1.002789	$	1.008181	$	0.980303	$	1.003571
M&E - 1.80% - Landmark	$	1.002679	$	1.008062	$	0.980191	$	1.003453
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	1.002679	$	1.008062	$	0.980191	$	1.003453
M&E - 1.80% - Huntington Landmark	$	1.002679	$	1.008062	$	0.980191	$	1.003453
M&E - 1.80% - Landmark ML	$	1.002679	$	1.008062	$	0.980191	$	1.003453

See accompanying notes.

167

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount		American Funds  – Growth–Income Fund Subaccount		American Funds – International Fund Subaccount		GE Investments Total Return Fund Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	1.002561	$	1.007946	$	0.980076	$	1.003337
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	1.003281
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	1.003281
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	1.003281
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	1.003281
M&E - 2.00% - Landmark	$	1.002444	$	1.007829	$	0.979961	$	1.003223
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	1.002444	$	1.007829	$	0.979961	$	1.003223
M&E - 2.00% - Huntington Landmark	$	1.002444	$	1.007829	$	0.979961	$	1.003223
M&E - 2.00% - Landmark ML	$	1.002444	$	1.007829	$	0.979961	$	1.003223
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	1.002214	$	1.007604	$	0.979738	$	1.002991
M&E - 2.30% - Landmark	$	1.002101	$	1.007487	$	0.979627	$	1.002880
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	1.002101	$	1.007487	$	0.979627	$	1.002880
M&E - 2.30% - Huntington Landmark	$	1.002101	$	1.007487	$	0.979627	$	1.002880
M&E - 2.30% - Landmark ML	$	1.002101	$	1.007487	$	0.979627	$	1.002880
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	1.002820
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	1.002704
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	1.002704
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	1.002704
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	1.002704

See accompanying notes.

168

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount	American Funds  – Growth–Income Fund Subaccount	American Funds – International Fund Subaccount	GE Investments Total Return Fund Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

169

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount	American Funds  – Growth–Income Fund Subaccount	American Funds – International Fund Subaccount	GE Investments Total Return Fund Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

170

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount		American Funds  – Growth–Income Fund Subaccount		American Funds – International  Fund Subaccount		GE Investments Total Return Fund Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

171

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	American Funds – Growth Fund Subaccount		American Funds  – Growth–Income Fund Subaccount		American Funds – International Fund Subaccount		GE Investments Total Return Fund Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

172

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount		BlackRock Basic  Value V.I. Subaccount		BlackRock High  Income V.I. Subaccount		BlackRock Global Allocation V.I. Subaccount
Assets
Investment in securities:
Number of shares - Initial		85,540.533		2,856,240.281		1,354,454.886		1,850,694.109
Cost	$	798,351	$	38,401,571	$	9,178,877	$	28,031,457
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	741,636	$	30,704,583	$	9,047,759	$	27,612,356
Receivable for units sold		—		2		399		—
Total assets		741,636		30,704,585		9,048,158		27,612,356
Liabilities
Payable for units redeemed		2		—		—		9
	$	741,634	$	30,704,585	$	9,048,158	$	27,612,347
Net Assets:
Deferred annuity contracts terminable by owners	$	741,634	$	30,704,585	$	9,048,158	$	27,612,347
Total net assets	$	741,634	$	30,704,585	$	9,048,158	$	27,612,347

See accompanying notes.

173

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	2,233,939.9652	610,674.2078	939,953.0551
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	578,722.3848	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	1,336,923.0266	836,429.0530	3,869,355.0849
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	4,137,757.8211	1,553,576.4787	3,345,937.5413
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	111,712.1699	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	7,494,055.4536	1,484,358.8313	2,834,212.1652
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	6,262,873.8227	1,330,553.0521	6,747,432.9131
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	23,261.6416	2,497.2462

See accompanying notes.

174

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

175

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount		BlackRock Basic  Value V.I. Subaccount		BlackRock High  Income V.I. Subaccount		BlackRock Global Allocation V.I. Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	1.138637	$	1.577858	$	2.042513
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	1.076087	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	1.153248	$	1.572902	$	1.882054
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	1.775888	$	1.552970	$	1.277807
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	1.064144	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	1.114532	$	1.544499	$	1.999243
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	1.743381	$	1.524554	$	1.254385
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	1.046476	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	1.110497	$	1.514573	$	1.812235

See accompanying notes.

176

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount		BlackRock Basic  Value V.I. Subaccount		BlackRock High  Income V.I. Subaccount		BlackRock Global Allocation V.I. Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	1.035095	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	1.353147	$	1.409319	$	2.200946
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	1.089754	$	1.486339	$	1.778471
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	1.019065	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	1.326857	$	1.381950	$	2.158253
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

177

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

178

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

179

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

180

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	MTB Managed Allocation Fund- Moderate Growth II Subaccount	BlackRock Basic  Value V.I. Subaccount	BlackRock High  Income V.I. Subaccount	BlackRock Global Allocation V.I. Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

181

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount		Huntington VA Growth Subaccount		Huntington VA  Income Equity Subaccount		Huntington VA International Equity Subaccount
Assets
Investment in securities:
Number of shares - Initial		15,791.278		15,264.706		7,889.273		47,169.761
Cost	$	134,768	$	122,151	$	55,466	$	519,961
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	140,069	$	108,685	$	63,035	$	633,018
Receivable for units sold		3		8		8		1
Total assets		140,072		108,693		63,043		633,019
Liabilities
Payable for units redeemed		—		—		—		—
	$	140,072	$	108,693	$	63,043	$	633,019
Net Assets:
Deferred annuity contracts terminable by owners	$	140,072	$	108,693	$	63,043	$	633,019
Total net assets	$	140,072	$	108,693	$	63,043	$	633,019

See accompanying notes.

182

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount	Huntington VA Growth Subaccount	Huntington VA  Income Equity Subaccount	Huntington VA International Equity Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	134,308.7201	86,906.3026	87,478.3085	555,107.6128
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	3,166.8902	2,783.3819	—	84,181.5666
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	2,827.6437	13,647.0764	—	43,110.4986
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

183

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount	Huntington VA Growth Subaccount	Huntington VA  Income Equity Subaccount	Huntington VA International Equity Subaccount
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	28,776.8791	40,100.9532	—	79,229.6156
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

184

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount		Huntington VA Growth Subaccount		Huntington VA  Income Equity Subaccount		Huntington VA International Equity Subaccount
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	0.830901	$	0.762029	$	0.720672	$	0.833463
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	0.827110	$	0.758555	$	0.717396	$	0.829660
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	0.821495	$	0.753393	$	0.712513	$	0.824033
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

185

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount		Huntington VA Growth Subaccount		Huntington VA  Income Equity Subaccount		Huntington VA International Equity Subaccount
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	0.817770	$	0.749978	$	0.709277	$	0.820293
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	0.812222	$	0.744905	$	0.704479	$	0.814734
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

186

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount	Huntington VA Growth Subaccount	Huntington VA  Income Equity Subaccount	Huntington VA International Equity Subaccount
Accumulation units outstanding: Service
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	—	—	—	—
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	—	—	—
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	—	—	—
M&E - 1.80% - Landmark ML	—	—	—	—

See accompanying notes.

187

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount	Huntington VA Growth Subaccount	Huntington VA  Income Equity Subaccount	Huntington VA International Equity Subaccount
Accumulation units outstanding: Service
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	—	—
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—
M&E - 2.30% - Landmark	—	—	—	—
M&E - 2.30% - Suntrust Landmark	—	—	—	—
M&E - 2.30% - Landmark Select	—	—	—	—
M&E - 2.30% - Huntington Landmark	—	—	—	—
M&E - 2.30% - Landmark ML	—	—	—	—
M&E - 2.35% - Freedom	—	—	—	—
M&E - 2.45% - Landmark	—	—	—	—
M&E - 2.45% - Landmark Select	—	—	—	—
M&E - 2.45% - Huntington Landmark	—	—	—	—
M&E - 2.45% - Landmark ML	—	—	—	—

See accompanying notes.

188

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount		Huntington VA Growth Subaccount		Huntington VA  Income Equity Subaccount		Huntington VA International Equity Subaccount
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

189

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Dividend Capture Subaccount		Huntington VA Growth Subaccount		Huntington VA  Income Equity Subaccount		Huntington VA International Equity Subaccount
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

190

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA  Macro 100 Subaccount		Huntington VA Mid Corp America Subaccount		Huntington VA Mortgage Securities Subaccount		Huntington VA New Economy Subaccount
Assets
Investment in securities:
Number of shares - Initial		316.268		11,314.688		49,707.798		10,502.115
Cost	$	2,499	$	153,468	$	543,465	$	108,290
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds,
Level 1 quoted prices at net asset value	$	2,521	$	163,724	$	556,727	$	114,683
Receivable for units sold		—		3		—		6
Total assets		2,521		163,727		556,727		114,689
Liabilities
Payable for units redeemed		—		—		3		—
	$	2,521	$	163,727	$	556,724	$	114,689
Net Assets:
Deferred annuity contracts terminable by owners	$	2,521	$	163,727	$	556,724	$	114,689
Total net assets	$	2,521	$	163,727	$	556,724	$	114,689

See accompanying notes.

191

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Macro 100 Subaccount	Huntington VA Mid Corp America Subaccount	Huntington VA Mortgage Securities Subaccount	Huntington VA New Economy Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	3,368.2463	170,390.6431	360,977.1560	109,247.1179
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	—	27,925.3096	138,333.1973	40,444.0992
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	—	2,324.4527	4,077.6074	1,158.2020
M&E - 1.80% - Landmark ML	—	—	—	—
See accompanying notes.
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	—
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	—	—	22,555.5041	23,059.8506
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—

192

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA  Macro 100 Subaccount		Huntington VA Mid Corp America Subaccount		Huntington VA Mortgage Securities Subaccount		Huntington VA New Economy Subaccount
M&E - 2.30% - Landmark		—		—		—		—
M&E - 2.30% - Suntrust Landmark		—		—		—		—
M&E - 2.30% - Landmark Select		—		—		—		—
M&E - 2.30% - Huntington Landmark		—		—		—		—
M&E - 2.30% - Landmark ML		—		—		—		—
M&E - 2.35% - Freedom		—		—		—		—
M&E - 2.45% - Landmark		—		—		—		—
M&E - 2.45% - Landmark Select		—		—		—		—
M&E - 2.45% - Huntington Landmark		—		—		—		—
M&E - 2.45% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	0.748352	$	0.816647	$	1.060597	$	0.661610
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	0.744945	$	0.812922	$	1.055801	$	0.658606
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	0.739870	$	0.807395	$	1.048607	$	0.654114
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—

193

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA  Macro 100 Subaccount		Huntington VA Mid Corp America Subaccount		Huntington VA Mortgage Securities Subaccount		Huntington VA New Economy Subaccount
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	0.736518	$	0.803733	$	1.043862	$	0.651152
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	0.731530	$	0.798286	$	1.036818	$	0.646734
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation units outstanding: Service
M&E - 1.25% - Landmark		—		—		—		—
M&E - 1.25% - Landmark ML		—		—		—		—
M&E - 1.25% - Freedom		—		—		—		—
M&E - 1.30% - Landmark		—		—		—		—
M&E - 1.30% - Suntrust Landmark		—		—		—		—
M&E - 1.30% - Landmark Select		—		—		—		—
M&E - 1.30% - Huntington Landmark		—		—		—		—
M&E - 1.30% - Landmark ML		—		—		—		—
M&E - 1.40% - Landmark		—		—		—		—
M&E - 1.40% - Landmark ML		—		—		—		—
M&E - 1.40% - Freedom		—		—		—		—
M&E - 1.50% - Landmark		—		—		—		—
M&E - 1.50% - Suntrust Landmark		—		—		—		—
M&E - 1.50% - Landmark Select		—		—		—		—
M&E - 1.50% - Huntington Landmark		—		—		—		—
M&E - 1.50% - Landmark ML		—		—		—		—
M&E - 1.50% - Freedom		—		—		—		—
M&E - 1.55% - Landmark		—		—		—		—
M&E - 1.55% - Landmark ML		—		—		—		—
M&E - 1.65% - Freedom		—		—		—		—
M&E - 1.70% - Freedom		—		—		—		—

194

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA  Macro 100 Subaccount		Huntington VA Mid Corp America Subaccount		Huntington VA Mortgage Securities Subaccount		Huntington VA New Economy Subaccount
M&E - 1.80% - Landmark		—		—		—		—
M&E - 1.80% - Suntrust Landmark		—		—		—		—
M&E - 1.80% - Landmark Select		—		—		—		—
M&E - 1.80% - Huntington Landmark		—		—		—		—
M&E - 1.80% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation units outstanding: Service
M&E - 1.85% - Freedom		—		—		—		—
M&E - 1.90% - Freedom		—		—		—		—
M&E - 1.95% - Landmark		—		—		—		—
M&E - 1.95% - Landmark Select		—		—		—		—
M&E - 1.95% - Huntington Landmark		—		—		—		—
M&E - 1.95% - Landmark ML		—		—		—		—
M&E - 2.00% - Landmark		—		—		—		—
M&E - 2.00% - Suntrust Landmark		—		—		—		—
M&E - 2.00% - Landmark Select		—		—		—		—
M&E - 2.00% - Huntington Landmark		—		—		—		—
M&E - 2.00% - Landmark ML		—		—		—		—
M&E - 2.05% - Landmark		—		—		—		—
M&E - 2.05% - Landmark ML		—		—		—		—
M&E - 2.15% - Freedom		—		—		—		—
M&E - 2.20% - Freedom		—		—		—		—
M&E - 2.30% - Landmark		—		—		—		—
M&E - 2.30% - Suntrust Landmark		—		—		—		—
M&E - 2.30% - Landmark Select		—		—		—		—
M&E - 2.30% - Huntington Landmark		—		—		—		—
M&E - 2.30% - Landmark ML		—		—		—		—
M&E - 2.35% - Freedom		—		—		—		—
M&E - 2.45% - Landmark		—		—		—		—
M&E - 2.45% - Landmark Select		—		—		—		—
M&E - 2.45% - Huntington Landmark		—		—		—		—
M&E - 2.45% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—

195

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA  Macro 100 Subaccount		Huntington VA Mid Corp America Subaccount		Huntington VA Mortgage  Securities Subaccount		Huntington VA  New Economy Subaccount
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

196

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount		Huntington VA Rotating  Markets Subaccount		Huntington VA Situs Subaccount		Huntington VA Balanced Allocation Subaccount
Assets
Investment in securities:
Number of shares - Initial		25,629.797		6,976.246		48,143.054		300,217.435
Cost	$	191,772	$	61,302	$	503,816	$	3,421,086
Number of shares - Service		—		—		—		—
Cost	$	—	$	—	$	—	$	—
Investments in mutual funds, Level 1 quoted prices at net asset value	$	195,812	$	73,041	$	559,422	$	3,608,614
Receivable for units sold		5		1		—		—
Total assets		195,817		73,042		559,422		3,608,614
Liabilities
Payable for units redeemed		—		—		2		4
	$	195,817	$	73,042	$	559,420	$	3,608,610
Net Assets:
Deferred annuity contracts terminable by owners	$	195,817	$	73,042	$	559,420	$	3,608,610
Total net assets	$	195,817	$	73,042	$	559,420	$	3,608,610

See accompanying notes.

197

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount	Huntington VA Rotating Markets Subaccount	Huntington VA Situs Subaccount	Huntington VA Balanced Allocation Subaccount
Accumulation units outstanding: Initial
M&E - 1.25% - Landmark	—	—	—	—
M&E - 1.25% - Landmark ML	—	—	—	—
M&E - 1.25% - Freedom	—	—	—	—
M&E - 1.30% - Landmark	—	—	—	—
M&E - 1.30% - Suntrust Landmark	—	—	—	—
M&E - 1.30% - Landmark Select	—	—	—	—
M&E - 1.30% - Huntington Landmark	173,824.2830	38,276.0088	536,976.0548	1,813,507.8791
M&E - 1.30% - Landmark ML	—	—	—	—
M&E - 1.40% - Landmark	—	—	—	—
M&E - 1.40% - Landmark ML	—	—	—	—
M&E - 1.40% - Freedom	—	—	—	—
M&E - 1.50% - Landmark	—	—	—	—
M&E - 1.50% - Suntrust Landmark	—	—	—	—
M&E - 1.50% - Landmark Select	—	—	—	—
M&E - 1.50% - Huntington Landmark	21,065.7496	24,068.7496	109,918.4559	873,178.5975
M&E - 1.50% - Landmark ML	—	—	—	—
M&E - 1.50% - Freedom	—	—	—	—
M&E - 1.55% - Landmark	—	—	—	—
M&E - 1.55% - Landmark ML	—	—	—	—
M&E - 1.65% - Freedom	—	—	—	—
M&E - 1.70% - Freedom	—	—	—	—
M&E - 1.80% - Landmark	—	—	—	—
M&E - 1.80% - Suntrust Landmark	—	—	—	—
M&E - 1.80% - Landmark Select	—	—	—	—
M&E - 1.80% - Huntington Landmark	22,253.0644	10,539.1519	39,924.8402	305,801.5472
M&E - 1.80% - Landmark ML	—	—	—	—
See accompanying notes.
Accumulation units outstanding: Initial
M&E - 1.85% - Freedom	—	—	—	—
M&E - 1.90% - Freedom	—	—	—	—
M&E - 1.95% - Landmark	—	—	—	—
M&E - 1.95% - Landmark Select	—	—	—	—
M&E - 1.95% - Huntington Landmark	—	—	—	3,528.7311
M&E - 1.95% - Landmark ML	—	—	—	—
M&E - 2.00% - Landmark	—	—	—	—
M&E - 2.00% - Suntrust Landmark	—	—	—	—
M&E - 2.00% - Landmark Select	—	—	—	—
M&E - 2.00% - Huntington Landmark	37,055.0085	20,599.0057	44,312.7664	28,086.0833
M&E - 2.00% - Landmark ML	—	—	—	—
M&E - 2.05% - Landmark	—	—	—	—
M&E - 2.05% - Landmark ML	—	—	—	—
M&E - 2.15% - Freedom	—	—	—	—
M&E - 2.20% - Freedom	—	—	—	—

198

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount		Huntington VA Rotating Markets Subaccount		Huntington VA Situs Subaccount		Huntington VA Balanced Allocation Subaccount
M&E - 2.30% - Landmark		—		—		—		—
M&E - 2.30% - Suntrust Landmark		—		—		—		—
M&E - 2.30% - Landmark Select		—		—		—		—
M&E - 2.30% - Huntington Landmark		—		—		—		—
M&E - 2.30% - Landmark ML		—		—		—		—
M&E - 2.35% - Freedom		—		—		—		—
M&E - 2.45% - Landmark		—		—		—		—
M&E - 2.45% - Landmark Select		—		—		—		—
M&E - 2.45% - Huntington Landmark		—		—		—		10,109.0535
M&E - 2.45% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation unit value: Initial
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	0.773179	$	0.786014	$	0.766873	$	1.190894
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	0.769653	$	0.782444	$	0.763402	$	1.188221
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	0.764404	$	0.777110	$	0.758198	$	1.184238
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation unit value: Initial
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—

199

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount		Huntington VA Rotating Markets Subaccount		Huntington VA Situs Subaccount		Huntington VA Balanced Allocation Subaccount
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	1.182241
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	0.760952	$	0.773580	$	0.754753	$	1.181581
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	0.755789	$	0.768354	$	0.749637	$	1.177642
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	1.175665
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation units outstanding: Service
M&E - 1.25% - Landmark		—		—		—		—
M&E - 1.25% - Landmark ML		—		—		—		—
M&E - 1.25% - Freedom		—		—		—		—
M&E - 1.30% - Landmark		—		—		—		—
M&E - 1.30% - Suntrust Landmark		—		—		—		—
M&E - 1.30% - Landmark Select		—		—		—		—
M&E - 1.30% - Huntington Landmark		—		—		—		—
M&E - 1.30% - Landmark ML		—		—		—		—
M&E - 1.40% - Landmark		—		—		—		—
M&E - 1.40% - Landmark ML		—		—		—		—
M&E - 1.40% - Freedom		—		—		—		—
M&E - 1.50% - Landmark		—		—		—		—
M&E - 1.50% - Suntrust Landmark		—		—		—		—
M&E - 1.50% - Landmark Select		—		—		—		—
M&E - 1.50% - Huntington Landmark		—		—		—		—
M&E - 1.50% - Landmark ML		—		—		—		—
M&E - 1.50% - Freedom		—		—		—		—
M&E - 1.55% - Landmark		—		—		—		—
M&E - 1.55% - Landmark ML		—		—		—		—
M&E - 1.65% - Freedom		—		—		—		—
M&E - 1.70% - Freedom		—		—		—		—

200

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount		Huntington VA Rotating Markets Subaccount		Huntington VA Situs Subaccount		Huntington VA Balanced Allocation Subaccount
M&E - 1.80% - Landmark		—		—		—		—
M&E - 1.80% - Suntrust Landmark		—		—		—		—
M&E - 1.80% - Landmark Select		—		—		—		—
M&E - 1.80% - Huntington Landmark		—		—		—		—
M&E - 1.80% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation units outstanding: Service
M&E - 1.85% - Freedom		—		—		—		—
M&E - 1.90% - Freedom		—		—		—		—
M&E - 1.95% - Landmark		—		—		—		—
M&E - 1.95% - Landmark Select		—		—		—		—
M&E - 1.95% - Huntington Landmark		—		—		—		—
M&E - 1.95% - Landmark ML		—		—		—		—
M&E - 2.00% - Landmark		—		—		—		—
M&E - 2.00% - Suntrust Landmark		—		—		—		—
M&E - 2.00% - Landmark Select		—		—		—		—
M&E - 2.00% - Huntington Landmark		—		—		—		—
M&E - 2.00% - Landmark ML		—		—		—		—
M&E - 2.05% - Landmark		—		—		—		—
M&E - 2.05% - Landmark ML		—		—		—		—
M&E - 2.15% - Freedom		—		—		—		—
M&E - 2.20% - Freedom		—		—		—		—
M&E - 2.30% - Landmark		—		—		—		—
M&E - 2.30% - Suntrust Landmark		—		—		—		—
M&E - 2.30% - Landmark Select		—		—		—		—
M&E - 2.30% - Huntington Landmark		—		—		—		—
M&E - 2.30% - Landmark ML		—		—		—		—
M&E - 2.35% - Freedom		—		—		—		—
M&E - 2.45% - Landmark		—		—		—		—
M&E - 2.45% - Landmark Select		—		—		—		—
M&E - 2.45% - Huntington Landmark		—		—		—		—
M&E - 2.45% - Landmark ML		—		—		—		—
See accompanying notes.
Accumulation unit value: Service
M&E - 1.25% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.25% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.25% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.40% - Landmark ML	$	—	$	—	$	—	$	—

201

Transamerica Life Insurance Company Separate

Account VA B

Statements of Assets and Liabilities

December 31, 2009

	Huntington VA Real Strategies Subaccount		Huntington VA Rotating Markets Subaccount		Huntington VA Situs Subaccount		Huntington VA Balanced Allocation Subaccount
M&E - 1.40% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.50% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.50% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.50% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.55% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 1.65% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.70% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.80% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.80% - Landmark ML	$	—	$	—	$	—	$	—
See accompanying notes.
Accumulation unit value: Service
M&E - 1.85% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.90% - Freedom	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 1.95% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 1.95% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.00% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.00% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.05% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.15% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.20% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Suntrust Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.30% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.30% - Landmark ML	$	—	$	—	$	—	$	—
M&E - 2.35% - Freedom	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark Select	$	—	$	—	$	—	$	—
M&E - 2.45% - Huntington Landmark	$	—	$	—	$	—	$	—
M&E - 2.45% - Landmark ML	$	—	$	—	$	—	$	—

See accompanying notes.

202

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Asset Allocation - Growth VP Subaccount			Transamerica Asset Allocation  - Conservative VP Subaccount			Transamerica Asset Allocation - Moderate VP Subaccount			Transamerica Asset Allocation - Moderate Growth VP Subaccount
Net investment income (loss)
Income:
Dividends	$	8,045,550		$	21,354,072		$	42,498,665		$	44,724,920
Expenses:
Administrative, mortality and expense risk charge		4,435,704			7,209,845			14,459,275			19,708,205
Net investment income (loss)		3,609,846			14,144,227			28,039,390			25,016,715
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		25,033,371			8,175,721			38,226,100			74,539,506
Proceeds from sales		51,313,962			136,029,785			127,438,230			138,188,185
Cost of investments sold		89,683,530			170,083,138			154,294,741			188,889,131
Net realized capital gains (losses) on investments		(13,336,197	)		(25,877,632	)		11,369,589			23,838,560
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(217,762,495	)		(123,082,037	)		(330,009,703	)		(612,011,140	)
End of period		(133,102,885	)		(5,362,629	)		(150,665,672	)		(337,429,463	)
Net change in unrealized appreciation/depreciation of investments		84,659,610			117,719,408			179,344,031			274,581,677
Net realized and unrealized capital gains (losses) on investments		71,323,413			91,841,776			190,713,620			298,420,237
Increase (decrease) in net assets from operations	$	74,933,259		$	105,986,003		$	218,753,010		$	323,436,952

See accompanying notes.

203

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Equity VP Subaccount			Transamerica American Century Large Company Value VP Subaccount			Transamerica MFS International Equity VP Subaccount			Transamerica Science & Technology VP Subaccount
Net investment income (loss)
Income:
Dividends	$	1,434,963		$	415,640		$	1,673,382		$	—
Expenses:
Administrative, mortality and expense risk charge		2,243,095			245,014			888,113			241,638
Net investment income (loss)		(808,132	)		170,626			785,269			(241,638	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			172,065
Proceeds from sales		26,159,741			3,046,253			14,601,201			5,354,707
Cost of investments sold		37,539,341			5,319,722			23,371,265			7,148,106
Net realized capital gains (losses) on investments		(11,379,600	)		(2,273,469	)		(8,770,064	)		(1,621,334	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(102,989,651	)		(11,031,228	)		(42,218,011	)		(9,025,267	)
End of period		(52,380,740	)		(6,042,354	)		(17,309,933	)		46,838
Net change in unrealized appreciation/depreciation of investments		50,608,911			4,988,874			24,908,078			9,072,105
Net realized and unrealized capital gains (losses) on investments		39,229,311			2,715,405			16,138,014			7,450,771
Increase (decrease) in net assets from operations	$	38,421,179		$	2,886,031		$	16,923,283		$	7,209,133

See accompanying notes.

204

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Clarion Global Real Estate Securities VP Subaccount			Transamerica Templeton  Global VP Subaccount			Transamerica Balanced VP Subaccount			Transamerica Jennison Growth VP Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	1,239,968		$	506,363		$	28,830
Expenses:
Administrative, mortality and expense risk charge		587,085			959,145			412,475			276,043
Net investment income (loss)		(587,085	)		280,823			93,888			(247,213	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			424,312			—
Proceeds from sales		7,436,675			18,859,264			4,531,007			4,263,805
Cost of investments sold		20,766,710			22,767,202			5,643,499			5,725,284
Net realized capital gains (losses) on investments		(13,330,035	)		(3,907,938	)		(688,180	)		(1,461,479	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(50,100,713	)		(6,798,393	)		(8,105,371	)		(8,220,010	)
End of period		(24,977,773	)		19,676,767			(750,148	)		(19,139	)
Net change in unrealized appreciation/depreciation of investments		25,122,940			26,475,160			7,355,223			8,200,871
Net realized and unrealized capital gains (losses) on investments		11,792,905			22,567,222			6,667,043			6,739,392
Increase (decrease) in net assets from operations	$	11,205,820		$	22,848,045		$	6,760,931		$	6,492,179

See accompanying notes.

205

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica JPMorgan Enhanced  Index VP Subaccount			Transamerica Marsico  Growth VP Subaccount			Transamerica AEGON High Yield Bond VP Subaccount			Transamerica Growth Opportunities VP Subaccount
Net investment income (loss)
Income:
Dividends	$	1,541,248		$	224,858		$	6,680,810		$	119,083
Expenses:
Administrative, mortality and expense risk charge		1,028,436			411,938			1,111,925			528,755
Net investment income (loss)		512,812			(187,080	)		5,568,885			(409,672	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		9,823,742			9,080,091			18,024,055			6,003,344
Cost of investments sold		13,987,194			11,952,429			23,414,642			9,819,515
Net realized capital gains (losses) on investments		(4,163,452	)		(2,872,338	)		(5,390,587	)		(3,816,171	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(36,999,808	)		(12,998,587	)		(27,452,620	)		(28,413,747	)
End of period		(15,081,086	)		(3,770,961	)		243,676			(13,233,210	)
Net change in unrealized appreciation/depreciation of investments		21,918,722			9,227,626			27,696,296			15,180,537
Net realized and unrealized capital gains (losses) on investments		17,755,270			6,355,288			22,305,709			11,364,366
Increase (decrease) in net assets from operations	$	18,268,082		$	6,168,208		$	27,874,594		$	10,954,694

See accompanying notes.

206

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica BlackRock Large Cap Value VP Subaccount			Transamerica PIMCO Total Return VP Subaccount			Transamerica Focus VP Subaccount			Transamerica Convertible Securities VP Subaccount
Net investment income (loss)
Income:
Dividends	$	773,301		$	20,457,049		$	1,748,433		$	1,069,901
Expenses:
Administrative, mortality and expense risk charge		1,000,382			4,593,751			1,019,435			424,244
Net investment income (loss)		(227,081	)		15,863,298			728,998			645,657
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			10,071,038			—			—
Proceeds from sales		15,710,861			36,944,113			15,273,251			15,567,542
Cost of investments sold		26,738,665			36,315,815			19,329,647			28,116,543
Net realized capital gains (losses) on investments		(11,027,804	)		10,699,336			(4,056,396	)		(12,549,001	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(35,863,942	)		(10,344,892	)		(44,408,325	)		(19,857,469	)
End of period		(15,779,406	)		3,865,736			(24,826,950	)		(844,743	)
Net change in unrealized appreciation/depreciation of investments		20,084,536			14,210,628			19,581,375			19,012,726
Net realized and unrealized capital gains (losses) on investments		9,056,732			24,909,964			15,524,979			6,463,725
Increase (decrease) in net assets from operations	$	8,829,651		$	40,773,262		$	16,253,977		$	7,109,382

See accompanying notes.

207

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica U.S. Government Securities VP Subaccount		Transamerica U.S. Government Securities VP - PAM Fund - SC Subaccount			Transamerica T. Rowe Price Equity Income VP Subaccount			Transamerica T. Rowe Price Growth Stock VP Subaccount
Net investment income (loss)
Income:
Dividends	$	3,567,574	$	2,461,943		$	6,829,176		$	521,092
Expenses:
Administrative, mortality and expense risk charge		2,297,800		1,707,836			2,525,597			1,645,802
Net investment income (loss)		1,269,774		754,107			4,303,579			(1,124,710	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—		—			1,386,453			—
Proceeds from sales		54,022,435		79,229,396			29,374,750			19,056,112
Cost of investments sold		51,368,305		75,723,531			54,310,251			20,043,783
Net realized capital gains (losses) on investments		2,654,130		3,505,865			(23,549,048	)		(987,671	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		6,835,849		5,593,067			(163,050,744	)		(35,398,138	)
End of period		7,222,385		4,273,276			(106,228,264	)		6,456,889
Net change in unrealized appreciation/depreciation of investments		386,536		(1,319,791	)		56,822,480			41,855,027
Net realized and unrealized capital gains (losses) on investments		3,040,666		2,186,074			33,273,432			40,867,356
Increase (decrease) in net assets from operations	$	4,310,440	$	2,940,181		$	37,577,011		$	39,742,646

See accompanying notes.

208

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica T. Rowe Price Small Cap VP Subaccount			Transamerica Van Kampen Active International Allocation VP Subaccount			Transamerica Van Kampen Large Cap Core VP Subaccount			Transamerica Money Market VP Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	144,992		$	1,121,439		$	412,815
Expenses:
Administrative, mortality and expense risk charge		848,221			1,421,362			1,736,486			4,870,409
Net investment income (loss)		(848,221	)		(1,276,370	)		(615,047	)		(4,457,594	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		2,385,902			1,611,439			—			—
Proceeds from sales		11,748,826			21,703,396			20,358,376			242,248,144
Cost of investments sold		23,047,766			27,743,824			28,804,159			242,248,144
Net realized capital gains (losses) on investments		(8,913,038	)		(4,428,989	)		(8,445,783	)		—
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(47,846,766	)		(47,322,360	)		(43,303,616	)		—
End of period		(19,634,126	)		(21,075,171	)		11,664,431			—
Net change in unrealized appreciation/depreciation of investments		28,212,640			26,247,189			54,968,047			—
Net realized and unrealized capital gains (losses) on investments		19,299,602			21,818,200			46,522,264			—
Increase (decrease) in net assets from operations	$	18,451,381		$	20,541,830		$	45,907,217		$	(4,457,594	)

See accompanying notes.

209

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Van Kampen Mid-Cap Growth VP Subaccount			Transamerica International Moderate Growth VP - SC Subaccount			Transamerica Small/Mid Cap Value VP Subaccount			Transamerica Index 50 VP - SC Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	2,751,258		$	3,777,008		$	80,810
Expenses:
Administrative, mortality and expense risk charge		363,762			1,513,605			1,686,199			338,580
Net investment income (loss)		(363,762	)		1,237,653			2,090,809			(257,770	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		4,677,034			11,364,543			20,774,953			268,324
Cost of investments sold		4,311,308			17,295,454			11,980,471			283,444
Net realized capital gains (losses) on investments		365,726			(5,930,911	)		8,794,482			(15,120	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(6,910,062	)		(40,957,528	)		(12,153,372	)		(291,653	)
End of period		4,345,820			(9,774,118	)		18,562,326			4,270,757
Net change in unrealized appreciation/depreciation of investments		11,255,882			31,183,410			30,715,698			4,562,410
Net realized and unrealized capital gains (losses) on investments		11,621,608			25,252,499			39,510,180			4,547,290
Increase (decrease) in net assets from operations	$	11,257,846		$	26,490,152		$	41,600,989		$	4,289,520

See accompanying notes.

210

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Index 75 VP - SC Subaccount			Transamerica Value  Balanced VP - SC Subaccount			Transamerica Efficient  Markets VP - SC Subaccount(1)			Transamerica BlackRock Global Allocation VP - SC Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	235,538		$	219,141		$	1,483		$	—
Expenses:
Administrative, mortality and expense risk charge		741,166			66,996			52,049			244,473
Net investment income (loss)		(505,628	)		152,145			(50,566	)		(244,473	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		338			—			755			—
Proceeds from sales		2,690,490			640,018			334,557			772,857
Cost of investments sold		3,144,779			861,340			286,461			670,515
Net realized capital gains (losses) on investments		(453,951	)		(221,322	)		48,851			102,342
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(1,934,487	)		(410,295	)		335			—
End of period		12,715,553			777,800			782,890			2,702,193
Net change in unrealized appreciation/depreciation of investments		14,650,040			1,188,095			782,555			2,702,193
Net realized and unrealized capital gains (losses) on investments		14,196,089			966,773			831,406			2,804,535
Increase (decrease) in net assets from operations	$	13,690,461		$	1,118,918		$	780,840		$	2,560,062

See accompanying notes.

211

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica BlackRock Tactical Allocation VP - SC Subaccount(1)			Transamerica ProFunds UltraBear VP -  SC OAM Subaccount(1)			Transamerica Foxhall Global Growth VP - SC Subaccount(1)			Transamerica Foxhall Global Conservative VP - SC Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	—
Expenses:
Administrative, mortality and expense risk charge		57,347			1,839			618			357
Net investment income (loss)		(57,347	)		(1,839	)		(618	)		(357	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		311,044			1,260,915			649			33,845
Cost of investments sold		268,758			1,414,788			643			34,059
Net realized capital gains (losses) on investments		42,286			(153,873	)		6			(214	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—			—			—			—
End of period		662,568			(47,504	)		7,561			(1,612	)
Net change in unrealized appreciation/depreciation of investments		662,568			(47,504	)		7,561			(1,612	)
Net realized and unrealized capital gains (losses) on investments		704,854			(201,377	)		7,567			(1,826	)
Increase (decrease) in net assets from operations	$	647,507		$	(203,216	)	$	6,949		$	(2,183	)

See accompanying notes.

212

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Foxhall Global Hard Asset VP  - SC Subaccount(1)			Transamerica Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount(1)			Transamerica Hanlon Growth VP - SC Subaccount(1)			Transamerica Hanlon Growth and Income VP  - SC Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	—
Expenses:
Administrative, mortality and expense risk charge		1,273			1,706			429			172
Net investment income (loss)		(1,273	)		(1,706	)		(429	)		(172	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		3,263			1,427			705			651
Cost of investments sold		3,261			1,427			702			650
Net realized capital gains (losses) on investments		2			—			3			1
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—			—			—			—
End of period		(4,832	)		23,477			9,263			3,760
Net change in unrealized appreciation/depreciation of investments		(4,832	)		23,477			9,263			3,760
Net realized and unrealized capital gains (losses) on investments		(4,830	)		23,477			9,266			3,761
Increase (decrease) in net assets from operations	$	(6,103	)	$	21,771		$	8,837		$	3,589

See accompanying notes.

213

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica Hanlon Balanced VP - SC Subaccount(1)			Transamerica Hanlon Managed Income VP - SC Subaccount(1)			Transamerica Index 35 VP -  SC Subaccount(1)			Transamerica Index 100 VP -  SC Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	—
Expenses:
Administrative, mortality and expense risk charge		844			4,831			136			58
Net investment income (loss)		(844	)		(4,831	)		(136	)		(58	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		2,375			547			773			659
Cost of investments sold		2,344			547			768			652
Net realized capital gains (losses) on investments		31			—			5			7
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—			—			—			—
End of period		15,704			13,224			(855	)		872
Net change in unrealized appreciation/depreciation of investments		15,704			13,224			(855	)		872
Net realized and unrealized capital gains (losses) on investments		15,735			13,224			(850	)		879
Increase (decrease) in net assets from operations	$	14,891		$	8,393		$	(986	)	$	821

See accompanying notes.

214

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Transamerica JPMorgan Mid Cap Value VP -  SC Subaccount(1)			AIM V.I. Basic Value Subaccount			AIM V.I. Capital Appreciation Subaccount			AllianceBernstein Growth & Income Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	255,197		$	15,167		$	1,328,559
Expenses:
Administrative, mortality and expense risk charge		62			295,097			74,614			549,752
Net investment income (loss)		(62	)		(39,900	)		(59,447	)		778,807
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		765			3,531,169			597,444			8,568,410
Cost of investments sold		759			7,615,789			764,263			12,661,938
Net realized capital gains (losses) on investments		6			(4,084,620	)		(166,819	)		(4,093,528	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—			(20,493,187	)		(2,109,138	)		(26,492,670	)
End of period		1,282			(8,706,386	)		(955,642	)		(16,799,350	)
Net change in unrealized appreciation/depreciation of investments		1,282			11,786,801			1,153,496			9,693,320
Net realized and unrealized capital gains (losses) on investments		1,288			7,702,181			986,677			5,599,792
Increase (decrease) in net assets from operations	$	1,226		$	7,662,281		$	927,230		$	6,378,599

See accompanying notes.

215

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	AllianceBernstein Large Cap Growth Subaccount			AllianceBernstein Balanced Wealth Strategy Subaccount			Janus Aspen- Enterprise Subaccount			Janus Aspen Perkins-Mid Cap Value Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	43,678		$	—		$	9,766
Expenses:
Administrative, mortality and expense risk charge		261,852			81,089			246,755			40,960
Net investment income (loss)		(261,852	)		(37,411	)		(246,755	)		(31,194	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			78,410
Proceeds from sales		3,046,314			1,590,716			6,628,531			476,530
Cost of investments sold		2,970,560			1,345,611			10,065,531			402,698
Net realized capital gains (losses) on investments		75,754			245,105			(3,437,000	)		152,242
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(3,905,673	)		9,888			(10,044,172	)		(687,075	)
End of period		1,733,975			1,111,085			(254,899	)		(10,970	)
Net change in unrealized appreciation/depreciation of investments		5,639,648			1,101,197			9,789,273			676,105
Net realized and unrealized capital gains (losses) on investments		5,715,402			1,346,302			6,352,273			828,347
Increase (decrease) in net assets from operations	$	5,453,550		$	1,308,891		$	6,105,518		$	797,153

See accompanying notes.

216

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Janus Aspen- Worldwide Subaccount			MFS New Discovery Subaccount			MFS Total Return Subaccount			Fidelity-VIP Contrafund® Subaccount
Net investment income (loss)
Income:
Dividends	$	360,361		$	—		$	1,970,718		$	1,762,364
Expenses:
Administrative, mortality and expense risk charge		402,499			231,834			863,910			2,195,504
Net investment income (loss)		(42,138	)		(231,834	)		1,106,808			(433,140	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			42,751
Proceeds from sales		6,422,759			2,708,259			9,756,428			21,949,579
Cost of investments sold		8,245,995			4,600,704			12,530,156			30,120,019
Net realized capital gains (losses) on investments		(1,823,236	)		(1,892,445	)		(2,773,728	)		(8,127,689	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(15,022,412	)		(8,755,809	)		(17,524,589	)		(110,979,245	)
End of period		(4,939,560	)		680,902			(6,994,470	)		(58,250,592	)
Net change in unrealized appreciation/depreciation of investments		10,082,852			9,436,711			10,530,119			52,728,653
Net realized and unrealized capital gains (losses) on investments		8,259,616			7,544,266			7,756,391			44,600,964
Increase (decrease) in net assets from operations	$	8,217,478		$	7,312,432		$	8,863,199		$	44,167,824

See accompanying notes.

217

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Fidelity-VIP Equity-Income Subaccount			Fidelity-VIP Growth Subaccount			Fidelity-VIP Growth Opportunities Subaccount			Fidelity-VIP Mid Cap Subaccount
Net investment income (loss)
Income:
Dividends	$	830,341		$	43,009		$	3,849		$	768,040
Expenses:
Administrative, mortality and expense risk charge		594,548			316,651			24,515			2,529,619
Net investment income (loss)		235,793			(273,642	)		(20,666	)		(1,761,579	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			19,192			—			875,080
Proceeds from sales		9,001,049			6,478,584			493,434			34,417,297
Cost of investments sold		15,759,631			8,963,736			531,184			39,690,391
Net realized capital gains (losses) on investments		(6,758,582	)		(2,465,960	)		(37,750	)		(4,398,014	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(35,330,781	)		(14,142,013	)		(483,134	)		(95,382,240	)
End of period		(18,838,579	)		(6,446,026	)		195,521			(34,273,498	)
Net change in unrealized appreciation/depreciation of investments		16,492,202			7,695,987			678,655			61,108,742
Net realized and unrealized capital gains (losses) on investments		9,733,620			5,230,027			640,905			56,710,728
Increase (decrease) in net assets from operations	$	9,969,413		$	4,956,385		$	620,239		$	54,949,149

See accompanying notes.

218

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Fidelity-VIP Value Strategies Subaccount			Fidelity-VIP Balanced Subaccount			Franklin Income Securities Subaccount			Mutual Shares Securities Subaccount
Net investment income (loss)
Income:
Dividends	$	156,782		$	262,045		$	1,288,296		$	134,069
Expenses:
Administrative, mortality and expense risk charge		638,713			151,882			259,268			98,105
Net investment income (loss)		(481,931	)		110,163			1,029,028			35,964
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			29,290			—			—
Proceeds from sales		10,692,493			1,591,724			2,583,044			2,651,346
Cost of investments sold		22,524,863			1,707,297			3,609,878			4,489,635
Net realized capital gains (losses) on investments		(11,832,370	)		(86,283	)		(1,026,834	)		(1,838,289	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(48,939,054	)		(620,042	)		(3,980,629	)		(2,407,953	)
End of period		(17,065,897	)		3,083,958			1,469,387			802,331
Net change in unrealized appreciation/depreciation of investments		31,873,157			3,704,000			5,450,016			3,210,284
Net realized and unrealized capital gains (losses) on investments		20,040,787			3,617,717			4,423,182			1,371,995
Increase (decrease) in net assets from operations	$	19,558,856		$	3,727,880		$	5,452,210		$	1,407,959

See accompanying notes.

219

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Templeton Foreign Securities Subaccount			Franklin Templeton Founding Funds Allocation Subaccount		American Funds – Asset Allocation Fund Subaccount(1)			American Funds – Bond Fund Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	478,237		$	569,011	$	366		$	1,915
Expenses:
Administrative, mortality and expense risk charge		265,966			179,806		232			157
Net investment income (loss)		212,271			389,205		134			1,758
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		589,982			—		—			—
Proceeds from sales		5,452,899			1,844,389		579			600
Cost of investments sold		9,539,098			1,522,179		574			601
Net realized capital gains (losses) on investments		(3,496,217	)		322,210		5			(1	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(7,491,657	)		15,004		—			—
End of period		937,574			3,011,366		(145	)		(3,259	)
Net change in unrealized appreciation/depreciation of investments		8,429,231			2,996,362		(145	)		(3,259	)
Net realized and unrealized capital gains (losses) on investments		4,933,014			3,318,572		(140	)		(3,260	)
Increase (decrease) in net assets from operations	$	5,145,285		$	3,707,777	$	(6	)	$	(1,502	)

See accompanying notes.

220

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	American Funds – Growth Fund Subaccount(1)		American Funds  – Growth–Income Fund Subaccount(1)		American Funds  – International Fund Subaccount(1)		GE Investments Total Return Fund Subaccount(1)
Net investment income (loss)
Income:
Dividends	$	262	$	596	$	328	$	1,097
Expenses:
Administrative, mortality and expense risk charge		79		59		50		97
Net investment income (loss)		183		537		278		1,000
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—		—		—		—
Proceeds from sales		3,127		550		526		10,771
Cost of investments sold		3,083		545		522		10,590
Net realized capital gains (losses) on investments		44		5		4		181
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—		—		—		—
End of period		728		135		415		(224	)
Net change in unrealized appreciation/depreciation of investments		728		135		415		(224	)
Net realized and unrealized capital gains (losses) on investments		772		140		419		(43	)
Increase (decrease) in net assets from operations	$	955	$	677	$	697	$	957

See accompanying notes.

221

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	MTB Managed Allocation Fund- Moderate Growth II Subaccount			BlackRock Basic Value V.I. Subaccount			BlackRock High Income V.I. Subaccount			BlackRock Global Allocation V.I. Subaccount
Net investment income (loss)
Income:
Dividends	$	82		$	562,339		$	731,974		$	474,812
Expenses:
Administrative, mortality and expense risk charge		9,344			394,964			111,456			355,513
Net investment income (loss)		(9,262	)		167,375			620,518			119,299
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		4,002			—			—			—
Proceeds from sales		215,171			4,388,505			2,257,229			3,541,806
Cost of investments sold		319,692			5,393,319			3,078,489			3,865,484
Net realized capital gains (losses) on investments		(100,519	)		(1,004,814	)		(821,260	)		(323,678	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(307,292	)		(15,630,105	)		(3,756,501	)		(5,124,005	)
End of period		(56,715	)		(7,696,988	)		(131,118	)		(419,101	)
Net change in unrealized appreciation/depreciation of investments		250,577			7,933,117			3,625,383			4,704,904
Net realized and unrealized capital gains (losses) on investments		150,058			6,928,303			2,804,123			4,381,226
Increase (decrease) in net assets from operations	$	140,796		$	7,095,678		$	3,424,641		$	4,500,525

See accompanying notes.

222

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Huntington VA Dividend Capture Subaccount			Huntington VA Growth Subaccount			Huntington VA Income Equity Subaccount			Huntington VA International Equity Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	189
Expenses:
Administrative, mortality and expense risk charge		1,092			1,213			451			5,825
Net investment income (loss)		(1,092	)		(1,213	)		(451	)		(5,636	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		2,229			15,677			5,272			118,554
Cost of investments sold		3,822			26,765			8,252			173,520
Net realized capital gains (losses) on investments		(1,593	)		(11,088	)		(2,980	)		(54,966	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(18,143	)		(37,079	)		(7,311	)		(75,501	)
End of period		5,301			(13,466	)		7,569			113,057
Net change in unrealized appreciation/depreciation of investments		23,444			23,613			14,880			188,558
Net realized and unrealized capital gains (losses) on investments		21,851			12,525			11,900			133,592
Increase (decrease) in net assets from operations	$	20,759		$	11,312		$	11,449		$	127,956

See accompanying notes.

223

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Huntington VA Macro 100 Subaccount			Huntington VA Mid Corp America Subaccount			Huntington VA Mortgage Securities Subaccount			Huntington VA New Economy Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	—
Expenses:
Administrative, mortality and expense risk charge		2			839			6,263			886
Net investment income (loss)		(2	)		(839	)		(6,263	)		(886	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		2			5,388			166,929			15,716
Cost of investments sold		2			7,270			176,250			32,690
Net realized capital gains (losses) on investments		—			(1,882	)		(9,321	)		(16,974	)
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		—			(12,319	)		(21,034	)		(28,486	)
End of period		22			10,256			13,262			6,393
Net change in unrealized appreciation/depreciation of investments		22			22,575			34,296			34,879
Net realized and unrealized capital gains (losses) on investments		22			20,693			24,975			17,905
Increase (decrease) in net assets from operations	$	20		$	19,854		$	18,712		$	17,019

See accompanying notes.

224

Transamerica Life Insurance Company Separate

Account VA B

Statements of Operations

Year Ended December 31, 2009, Except as Noted

	Huntington VA Real Strategies Subaccount			Huntington VA Rotating Markets Subaccount			Huntington VA Situs Subaccount			Huntington VA Balanced Allocation Subaccount
Net investment income (loss)
Income:
Dividends	$	—		$	—		$	—		$	2,540
Expenses:
Administrative, mortality and expense risk charge		1,267			621			4,564			14,937
Net investment income (loss)		(1,267	)		(621	)		(4,564	)		(12,397	)
Net realized and unrealized capital gains (losses) on investments
Net realized capital gains (losses) on investments:
Realized gain distributions		—			—			—			—
Proceeds from sales		4,244			6,978			67,590			41,184
Cost of investments sold		6,612			10,926			92,090			37,346
Net realized capital gains (losses) on investments		(2,368	)		(3,948	)		(24,500	)		3,838
Net change in unrealized appreciation/depreciation of investments:
Beginning of period		(22,428	)		(6,633	)		(69,364	)		399
End of period		4,040			11,739			55,606			187,528
Net change in unrealized appreciation/depreciation of investments		26,468			18,372			124,970			187,129
Net realized and unrealized capital gains (losses) on investments		24,100			14,424			100,470			190,967
Increase (decrease) in net assets from operations	$	22,833		$	13,803		$	95,906		$	178,570

See accompanying notes.

225

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Asset Allocation - Growth VP Subaccount						Transamerica Asset Allocation - Conservative VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	3,609,846		$	5,570,752		$	14,144,227		$	7,041,104
Net realized capital gains (losses) on investments		(13,336,197	)		72,913,735			(25,877,632	)		78,798
Net change in unrealized appreciation/depreciation of investments		84,659,610			(287,439,492	)		117,719,408			(120,941,442	)
Increase (decrease) in net assets from operations		74,933,259			(208,955,005	)		105,986,003			(113,821,540	)
Contract transactions
Net contract purchase payments		12,863,074			11,147,802			67,917,476			50,517,905
Transfer payments from (to) other subaccounts or general account		1,596,336			(50,274,022	)		30,023,631			140,918,946
Contract terminations, withdrawals, and other deductions		(15,583,444	)		(30,411,876	)		(40,215,276	)		(50,201,467	)
Contract maintenance charges		(1,718,172	)		(1,925,478	)		(2,532,665	)		(2,058,113	)
Increase (decrease) in net assets from contract transactions		(2,842,206	)		(71,463,574	)		55,193,166			139,177,271
Net increase (decrease) in net assets		72,091,053			(280,418,579	)		161,179,169			25,355,731
Net assets:
Beginning of the period		283,936,866			564,355,445			400,340,125			374,984,394
End of the period	$	356,027,919		$	283,936,866		$	561,519,294		$	400,340,125

See accompanying notes.

226

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Asset Allocation - Moderate VP Subaccount						Transamerica Asset Allocation - Moderate Growth VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	28,039,390		$	20,333,168		$	25,016,715		$	22,665,662
Net realized capital gains (losses) on investments		11,369,589			112,721,143			23,838,560			208,303,096
Net change in unrealized appreciation/depreciation of investments		179,344,031			(464,577,899	)		274,581,677			(830,729,194	)
Increase (decrease) in net assets from operations		218,753,010			(331,523,588	)		323,436,952			(599,760,436	)
Contract transactions
Net contract purchase payments		111,714,879			125,691,914			195,857,251			243,681,036
Transfer payments from (to) other subaccounts or general account		70,769,435			(15,348,465	)		63,639,969			(142,023,605	)
Contract terminations, withdrawals, and other deductions		(69,327,162	)		(85,306,884	)		(71,089,416	)		(98,089,577	)
Contract maintenance charges		(5,563,908	)		(4,774,677	)		(8,834,278	)		(7,468,379	)
Increase (decrease) in net assets from contract transactions		107,593,244			20,261,888			179,573,526			(3,900,525	)
Net increase (decrease) in net assets		326,346,254			(311,261,700	)		503,010,478			(603,660,961	)
Net assets:
Beginning of the period		856,542,397			1,167,804,097			1,168,981,435			1,772,642,396
End of the period	$	1,182,888,651		$	856,542,397		$	1,671,991,913		$	1,168,981,435

See accompanying notes.

227

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Equity VP Subaccount						Transamerica American Century Large Company Value VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(808,132	)	$	(3,107,517	)	$	170,626		$	222,280
Net realized capital gains (losses) on investments		(11,379,600	)		14,654,698			(2,273,469	)		(929,896	)
Net change in unrealized appreciation/depreciation of investments		50,608,911			(160,336,843	)		4,988,874			(11,347,370	)
Increase (decrease) in net assets from operations		38,421,179			(148,789,662	)		2,886,031			(12,054,986	)
Contract transactions
Net contract purchase payments		1,289,886			2,036,122			212,787			112,237
Transfer payments from (to) other subaccounts or general account		(8,565,426	)		(12,809,680	)		(371,073	)		(4,891,544	)
Contract terminations, withdrawals, and other deductions		(11,568,893	)		(26,092,125	)		(1,305,328	)		(2,348,387	)
Contract maintenance charges		(713,347	)		(864,784	)		(91,808	)		(115,152	)
Increase (decrease) in net assets from contract transactions		(19,557,780	)		(37,730,467	)		(1,555,422	)		(7,242,846	)
Net increase (decrease) in net assets		18,863,399			(186,520,129	)		1,330,609			(19,297,832	)
Net assets:
Beginning of the period		154,901,502			341,421,631			17,514,574			36,812,406
End of the period	$	173,764,901		$	154,901,502		$	18,845,183		$	17,514,574

See accompanying notes.

228

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica MFS International Equity VP Subaccount						Transamerica Science & Technology VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	785,269		$	3,258,427		$	(241,638	)	$	(318,981	)
Net realized capital gains (losses) on investments		(8,770,064	)		2,604,225			(1,621,334	)		1,091,075
Net change in unrealized appreciation/depreciation of investments		24,908,078			(43,677,054	)		9,072,105			(15,010,988	)
Increase (decrease) in net assets from operations		16,923,283			(37,814,402	)		7,209,133			(14,238,894	)
Contract transactions
Net contract purchase payments		1,248,496			951,112			1,330,394			398,556
Transfer payments from (to) other subaccounts or general account		(2,819,876	)		(13,417,696	)		2,070,637			(2,794,267	)
Contract terminations, withdrawals, and other deductions		(4,505,518	)		(7,064,714	)		(864,050	)		(1,791,457	)
Contract maintenance charges		(331,490	)		(370,140	)		(96,700	)		(103,501	)
Increase (decrease) in net assets from contract transactions		(6,408,388	)		(19,901,438	)		2,440,281			(4,290,669	)
Net increase (decrease) in net assets		10,514,895			(57,715,840	)		9,649,414			(18,529,563	)
Net assets:
Beginning of the period		59,550,150			117,265,990			13,508,045			32,037,608
End of the period	$	70,065,045		$	59,550,150		$	23,157,459		$	13,508,045

See accompanying notes.

229

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Clarion Global Real Estate Securities VP Subaccount						Transamerica Templeton Global VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(587,085	)	$	3,369,169		$	280,823		$	84,501
Net realized capital gains (losses) on investments		(13,330,035	)		7,185,038			(3,907,938	)		365,762
Net change in unrealized appreciation/depreciation of investments		25,122,940			(44,575,900	)		26,475,160			(12,803,355	)
Increase (decrease) in net assets from operations		11,205,820			(34,021,693	)		22,848,045			(12,353,092	)
Contract transactions
Net contract purchase payments		948,165			781,467			1,358,365			481,777
Transfer payments from (to) other subaccounts or general account		562,168			(14,268,605	)		60,752,394			(2,304,150	)
Contract terminations, withdrawals, and other deductions		(2,700,514	)		(5,514,093	)		(4,765,397	)		(1,948,883	)
Contract maintenance charges		(218,608	)		(275,255	)		(289,374	)		(88,680	)
Increase (decrease) in net assets from contract transactions		(1,408,789	)		(19,276,486	)		57,055,988			(3,859,936	)
Net increase (decrease) in net assets		9,797,031			(53,298,179	)		79,904,033			(16,213,028	)
Net assets:
Beginning of the period		39,869,448			93,167,627			13,594,435			29,807,463
End of the period	$	49,666,479		$	39,869,448		$	93,498,468		$	13,594,435

See accompanying notes.

230

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Balanced VP Subaccount						Transamerica Jennison Growth VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	93,888		$	106,458		$	(247,213	)	$	(299,284	)
Net realized capital gains (losses) on investments		(688,180	)		2,332,563			(1,461,479	)		685,654
Net change in unrealized appreciation/depreciation of investments		7,355,223			(13,080,082	)		8,200,871			(10,316,410	)
Increase (decrease) in net assets from operations		6,760,931			(10,641,061	)		6,492,179			(9,930,040	)
Contract transactions
Net contract purchase payments		6,517,414			3,964,415			590,759			167,235
Transfer payments from (to) other subaccounts or general account		4,839,969			550,262			4,028,708			(792,843	)
Contract terminations, withdrawals, and other deductions		(1,497,426	)		(2,704,146	)		(1,256,201	)		(2,262,180	)
Contract maintenance charges		(168,141	)		(122,455	)		(84,829	)		(71,751	)
Increase (decrease) in net assets from contract transactions		9,691,816			1,688,076			3,278,437			(2,959,539	)
Net increase (decrease) in net assets		16,452,747			(8,952,985	)		9,770,616			(12,889,579	)
Net assets:
Beginning of the period		21,423,465			30,376,450			15,596,912			28,486,491
End of the period	$	37,876,212		$	21,423,465		$	25,367,528		$	15,596,912

See accompanying notes.

231

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica JPMorgan Enhanced Index VP Subaccount						Transamerica Marsico Growth VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	512,812		$	4,028,012		$	(187,080	)	$	(289,747	)
Net realized capital gains (losses) on investments		(4,163,452	)		17,383,443			(2,872,338	)		2,932,549
Net change in unrealized appreciation/depreciation of investments		21,918,722			(65,261,560	)		9,227,626			(23,477,255	)
Increase (decrease) in net assets from operations		18,268,082			(43,850,105	)		6,168,208			(20,834,453	)
Contract transactions
Net contract purchase payments		166,422			790,608			883,574			900,934
Transfer payments from (to) other subaccounts or general account		6,701,079			(3,605,667	)		(1,932,019	)		(2,021,698	)
Contract terminations, withdrawals, and other deductions		(4,744,827	)		(13,296,822	)		(2,001,883	)		(3,188,956	)
Contract maintenance charges		(390,719	)		(425,177	)		(134,311	)		(157,089	)
Increase (decrease) in net assets from contract transactions		1,731,955			(16,537,058	)		(3,184,639	)		(4,466,809	)
Net increase (decrease) in net assets		20,000,037			(60,387,163	)		2,983,569			(25,301,262	)
Net assets:
Beginning of the period		65,362,497			125,749,660			27,984,529			53,285,791
End of the period	$	85,362,534		$	65,362,497		$	30,968,098		$	27,984,529

See accompanying notes.

232

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica AEGON High Yield Bond VP Subaccount						Transamerica Growth Opportunities VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	5,568,885		$	5,634,854		$	(409,672	)	$	1,095,269
Net realized capital gains (losses) on investments		(5,390,587	)		(6,389,936	)		(3,816,171	)		11,841,265
Net change in unrealized appreciation/depreciation of investments		27,696,296			(18,612,782	)		15,180,537			(40,078,276	)
Increase (decrease) in net assets from operations		27,874,594			(19,367,864	)		10,954,694			(27,141,742	)
Contract transactions
Net contract purchase payments		2,779,151			812,941			989,660			379,164
Transfer payments from (to) other subaccounts or general account		21,603,747			(8,344,828	)		(657,558	)		(7,735,799	)
Contract terminations, withdrawals, and other deductions		(7,037,472	)		(7,301,296	)		(2,830,242	)		(4,796,240	)
Contract maintenance charges		(366,114	)		(292,546	)		(205,826	)		(233,002	)
Increase (decrease) in net assets from contract transactions		16,979,312			(15,125,729	)		(2,703,966	)		(12,385,877	)
Net increase (decrease) in net assets		44,853,906			(34,493,593	)		8,250,728			(39,527,619	)
Net assets:
Beginning of the period		52,752,860			87,246,453			33,640,632			73,168,251
End of the period	$	97,606,766		$	52,752,860		$	41,891,360		$	33,640,632

See accompanying notes.

233

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica BlackRock Large Cap Value VP Subaccount						Transamerica PIMCO Total Return VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(227,081	)	$	(440,948	)	$	15,863,298		$	10,663,669
Net realized capital gains (losses) on investments		(11,027,804	)		8,317,550			10,699,336			1,146,106
Net change in unrealized appreciation/depreciation of investments		20,084,536			(40,713,918	)		14,210,628			(23,268,306	)
Increase (decrease) in net assets from operations		8,829,651			(32,837,316	)		40,773,262			(11,458,531	)
Contract transactions
Net contract purchase payments		2,218,404			1,544,777			37,035,262			9,276,758
Transfer payments from (to) other subaccounts or general account		134,885,695			(6,648,592	)		114,258,188			37,071,789
Contract terminations, withdrawals, and other deductions		(5,214,017	)		(7,201,708	)		(28,010,230	)		(23,199,303	)
Contract maintenance charges		(355,754	)		(316,046	)		(1,563,055	)		(1,067,427	)
Increase (decrease) in net assets from contract transactions		131,534,328			(12,621,569	)		121,720,165			22,081,817
Net increase (decrease) in net assets		140,363,979			(45,458,885	)		162,493,427			10,623,286
Net assets:
Beginning of the period		57,622,753			103,081,638			232,447,318			221,824,032
End of the period	$	197,986,732		$	57,622,753		$	394,940,745		$	232,447,318

See accompanying notes.

234

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Focus VP Subaccount						Transamerica Convertible Securities VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	728,998		$	635,061		$	645,657		$	1,759,511
Net realized capital gains (losses) on investments		(4,056,396	)		17,231,673			(12,549,001	)		2,382,186
Net change in unrealized appreciation/depreciation of investments		19,581,375			(64,609,192	)		19,012,726			(22,679,340	)
Increase (decrease) in net assets from operations		16,253,977			(46,742,458	)		7,109,382			(18,537,643	)
Contract transactions
Net contract purchase payments		483,935			779,189			650,923			572,044
Transfer payments from (to) other subaccounts or general account		(6,779,631	)		(14,697,067	)		1,643,457			(5,034,329	)
Contract terminations, withdrawals, and other deductions		(5,072,062	)		(9,212,110	)		(2,578,014	)		(3,187,060	)
Contract maintenance charges		(399,669	)		(474,870	)		(139,219	)		(156,489	)
Increase (decrease) in net assets from contract transactions		(11,767,427	)		(23,604,858	)		(422,853	)		(7,805,834	)
Net increase (decrease) in net assets		4,486,550			(70,347,316	)		6,686,529			(26,343,477	)
Net assets:
Beginning of the period		70,947,292			141,294,608			26,654,279			52,997,756
End of the period	$	75,433,842		$	70,947,292		$	33,340,808		$	26,654,279

See accompanying notes.

235

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica U.S. Government  Securities VP Subaccount						Transamerica U.S. Government  Securities VP - PAM Fund - SC Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	1,269,774		$	757,531		$	754,107		$	122,591
Net realized capital gains (losses) on investments		2,654,130			(975,489	)		3,505,865			114,064
Net change in unrealized appreciation/depreciation of investments		386,536			8,326,344			(1,319,791	)		5,570,848
Increase (decrease) in net assets from operations		4,310,440			8,108,386			2,940,181			5,807,503
Contract transactions
Net contract purchase payments		40,703,014			7,051,517			—			0
Transfer payments from (to) other subaccounts or general account		(15,084,789	)		46,543,918			(48,727,831	)		135,553,655
Contract terminations, withdrawals, and other deductions		(16,460,578	)		(15,190,371	)		(8,365,234	)		(5,282,757	)
Contract maintenance charges		(694,826	)		(456,495	)		(1,016,597	)		(403,118	)
Increase (decrease) in net assets from contract transactions		8,462,821			37,948,569			(58,109,662	)		129,867,780
Net increase (decrease) in net assets		12,773,261			46,056,955			(55,169,481	)		135,675,283
Net assets:
Beginning of the period		157,185,721			111,128,766			141,241,498			5,566,215
End of the period	$	169,958,982		$	157,185,721		$	86,072,017		$	141,241,498

See accompanying notes.

236

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica T. Rowe Price Equity  Income VP Subaccount						Transamerica T. Rowe Price Growth  Stock VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	4,303,579		$	5,586,140		$	(1,124,710	)	$	(1,103,532	)
Net realized capital gains (losses) on investments		(23,549,048	)		66,208,961			(987,671	)		11,664,642
Net change in unrealized appreciation/depreciation of investments		56,822,480			(188,399,236	)		41,855,027			(96,074,376	)
Increase (decrease) in net assets from operations		37,577,011			(116,604,135	)		39,742,646			(85,513,266	)
Contract transactions
Net contract purchase payments		1,374,939			1,687,472			1,551,977			825,752
Transfer payments from (to) other subaccounts or general account		(9,717,318	)		(26,917,922	)		(4,403,461	)		(15,741,183	)
Contract terminations, withdrawals, and other deductions		(13,490,666	)		(25,954,880	)		(8,073,171	)		(15,319,505	)
Contract maintenance charges		(750,284	)		(886,926	)		(495,457	)		(549,318	)
Increase (decrease) in net assets from contract transactions		(22,583,329	)		(52,072,256	)		(11,420,112	)		(30,784,254	)
Net increase (decrease) in net assets		14,993,682			(168,676,391	)		28,322,534			(116,297,520	)
Net assets:
Beginning of the period		181,872,258			350,548,649			104,327,656			220,625,176
End of the period	$	196,865,940		$	181,872,258		$	132,650,190		$	104,327,656

See accompanying notes.

237

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica T. Rowe Price Small Cap VP Subaccount						Transamerica Van Kampen Active International Allocation VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(848,221	)	$	123,184		$	(1,276,370	)	$	5,874,474
Net realized capital gains (losses) on investments		(8,913,038	)		7,977,694			(4,428,989	)		28,932,827
Net change in unrealized appreciation/depreciation of investments		28,212,640			(43,026,520	)		26,247,189			(111,736,860	)
Increase (decrease) in net assets from operations		18,451,381			(34,925,642	)		20,541,830			(76,929,559	)
Contract transactions
Net contract purchase payments		1,546,110			869,258			1,276,879			1,338,919
Transfer payments from (to) other subaccounts or general account		(2,626,941	)		(8,434,033	)		(3,417,617	)		(13,271,262	)
Contract terminations, withdrawals, and other deductions		(3,686,514	)		(6,710,395	)		(7,255,777	)		(16,232,547	)
Contract maintenance charges		(320,278	)		(349,988	)		(431,685	)		(536,682	)
Increase (decrease) in net assets from contract transactions		(5,087,623	)		(14,625,158	)		(9,828,200	)		(28,701,572	)
Net increase (decrease) in net assets		13,363,758			(49,550,800	)		10,713,630			(105,631,131	)
Net assets:
Beginning of the period		55,249,620			104,800,420			101,691,108			207,322,239
End of the period	$	68,613,378		$	55,249,620		$	112,404,738		$	101,691,108

See accompanying notes.

238

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Van Kampen Large Cap  Core VP Subaccount						Transamerica Money Market VP Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(615,047	)	$	2,465,133		$	(4,457,594	)	$	2,242,942
Net realized capital gains (losses) on investments		(8,445,783	)		12,025,080			—			(3,064	)
Net change in unrealized appreciation/depreciation of investments		54,968,047			(67,284,739	)		—			—
Increase (decrease) in net assets from operations		45,907,217			(52,794,526	)		(4,457,594	)		2,239,878
Contract transactions
Net contract purchase payments		983,372			840,449			60,086,875			45,548,665
Transfer payments from (to) other subaccounts or general account		61,112,270			(3,623,401	)		(97,259,494	)		237,719,305
Contract terminations, withdrawals, and other deductions		(10,621,765	)		(13,272,576	)		(83,340,207	)		(100,083,471	)
Contract maintenance charges		(422,870	)		(209,429	)		(1,796,100	)		(1,314,393	)
Increase (decrease) in net assets from contract transactions		51,051,007			(16,264,957	)		(122,308,926	)		181,870,106
Net increase (decrease) in net assets		96,958,224			(69,059,483	)		(126,766,520	)		184,109,984
Net assets:
Beginning of the period		65,477,186			134,536,669			390,109,230			205,999,246
End of the period	$	162,435,410		$	65,477,186		$	263,342,710		$	390,109,230

See accompanying notes.

239

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Van Kampen Mid-Cap Growth VP Subaccount						Transamerica International Moderate Growth VP - SC Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(363,762	)	$	204,911		$	1,237,653		$	803,082
Net realized capital gains (losses) on investments		365,726			2,820,414			(5,930,911	)		904,843
Net change in unrealized appreciation/depreciation of investments		11,255,882			(22,426,693	)		31,183,410			(42,897,353	)
Increase (decrease) in net assets from operations		11,257,846			(19,401,368	)		26,490,152			(41,189,428	)
Contract transactions
Net contract purchase payments		1,293,013			540,160			36,268,791			43,084,876
Transfer payments from (to) other subaccounts or general account		2,160,167			(3,245,239	)		3,755,346			5,114,861
Contract terminations, withdrawals, and other deductions		(1,612,613	)		(2,597,391	)		(4,635,155	)		(5,378,388	)
Contract maintenance charges		(129,920	)		(142,995	)		(792,907	)		(470,299	)
Increase (decrease) in net assets from contract transactions		1,710,647			(5,445,465	)		34,596,075			42,351,050
Net increase (decrease) in net assets		12,968,493			(24,846,833	)		61,086,227			1,161,622
Net assets:
Beginning of the period		20,184,740			45,031,573			78,605,551			77,443,929
End of the period	$	33,153,233		$	20,184,740		$	139,691,778		$	78,605,551

See accompanying notes.

240

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Small/Mid Cap Value VP Subaccount						Transamerica Index 50 VP - SC Subaccount
	2009			2008(1)			2009			2008(1)
Operations
Net investment income (loss)	$	2,090,809		$	647,377		$	(257,770	)	$	(20,376	)
Net realized capital gains (losses) on investments		8,794,482			36,900,234			(15,120	)		(15,130	)
Net change in unrealized appreciation/depreciation of investments		30,715,698			(123,239,824	)		4,562,410			(291,653	)
Increase (decrease) in net assets from operations		41,600,989			(85,692,213	)		4,289,520			(327,159	)
Contract transactions
Net contract purchase payments		1,823,721			698,319			22,468,711			3,819,082
Transfer payments from (to) other subaccounts or general account		(5,732,086	)		(13,876,592	)		17,343,015			2,184,445
Contract terminations, withdrawals, and other deductions		(11,225,130	)		(21,727,796	)		(256,188	)		(187,885	)
Contract maintenance charges		(376,379	)		(445,451	)		(56,431	)		—
Increase (decrease) in net assets from contract transactions		(15,509,874	)		(35,351,520	)		39,499,107			5,815,642
Net increase (decrease) in net assets		26,091,115			(121,043,733	)		43,788,627			5,488,483
Net assets:
Beginning of the period		111,735,406			232,779,139			5,488,483			—
End of the period	$	137,826,521		$	111,735,406		$	49,277,110		$	5,488,483

See accompanying notes.

241

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Index 75 VP - SC Subaccount						Transamerica Value Balanced VP - SC Subaccount
	2009			2008(1)			2009			2008(1)
Operations
Net investment income (loss)	$	(505,628	)	$	(65,801	)	$	152,145		$	64,961
Net realized capital gains (losses) on investments		(453,951	)		(108,725	)		(221,322	)		(100,995	)
Net change in unrealized appreciation/depreciation of investments		14,650,040			(1,934,487	)		1,188,095			(410,295	)
Increase (decrease) in net assets from operations		13,690,461			(2,109,013	)		1,118,918			(446,329	)
Contract transactions
Net contract purchase payments		55,472,202			13,084,309			4,604,260			2,256,883
Transfer payments from (to) other subaccounts or general account		12,723,785			4,064,751			678,228			180,458
Contract terminations, withdrawals, and other deductions		(1,339,721	)		(267,892	)		(198,288	)		(9,756	)
Contract maintenance charges		(166,351	)		(110	)		(5,852	)		(168	)
Increase (decrease) in net assets from contract transactions		66,689,915			16,881,058			5,078,348			2,427,417
Net increase (decrease) in net assets		80,380,376			14,772,045			6,197,266			1,981,088
Net assets:
Beginning of the period		14,772,045			—			1,981,088			—
End of the period	$	95,152,421		$	14,772,045		$	8,178,354		$	1,981,088

See accompanying notes.

242

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Efficient Markets VP - SC Subaccount						Transamerica BlackRock Global Allocation VP -  SC Subaccount			Transamerica BlackRock Tactical Allocation VP - SC Subaccount
	2009(1)			2008(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	(50,566	)	$	(9	)	$	(244,473	)	$	(57,347	)
Net realized capital gains (losses) on investments		48,851			(383	)		102,342			42,286
Net change in unrealized appreciation/depreciation of investments		782,555			335			2,702,193			662,568
Increase (decrease) in net assets from operations		780,840			(57	)		2,560,062			647,507
Contract transactions
Net contract purchase payments		7,104,833			53,434			42,507,822			10,594,599
Transfer payments from (to) other subaccounts or general account		880,480			3,834			24,203,139			6,502,349
Contract terminations, withdrawals, and other deductions		(20,045	)		(3,230	)		(324,411	)		(40,198	)
Contract maintenance charges		(1,296	)		—			(47,417	)		(21,085	)
Increase (decrease) in net assets from contract transactions		7,963,972			54,038			66,339,133			17,035,665
Net increase (decrease) in net assets		8,744,812			53,981			68,899,195			17,683,172
Net assets:
Beginning of the period		53,981			—			—			—
End of the period	$	8,798,793		$	53,981		$	68,899,195		$	17,683,172

See accompanying notes.

243

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica ProFunds UltraBear VP - SC OAM Subaccount			Transamerica Foxhall Global Growth VP - SC Subaccount			Transamerica Foxhall Global Conservative VP - SC Subaccount			Transamerica Foxhall Global Hard Asset  VP - SC Subaccount
	2009(1)			2009(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	(1,839	)	$	(618	)	$	(357	)	$	(1,273	)
Net realized capital gains (losses) on investments		(153,873	)		6			(214	)		2
Net change in unrealized appreciation/depreciation of investments		(47,504	)		7,561			(1,612	)		(4,832	)
Increase (decrease) in net assets from operations		(203,216	)		6,949			(2,183	)		(6,103	)
Contract transactions
Net contract purchase payments		—			355,007			432,723			364,790
Transfer payments from (to) other subaccounts or general account		574,511			473,512			301,207			1,073,879
Contract terminations, withdrawals, and other deductions		(11,342	)		(606	)		(600	)		(779	)
Contract maintenance charges		(274	)		(47	)		—			(56	)
Increase (decrease) in net assets from contract transactions		562,895			827,866			733,330			1,437,834
Net increase (decrease) in net assets		359,679			834,815			731,147			1,431,731
Net assets:
Beginning of the period		—			—			—			—
End of the period	$	359,679		$	834,815		$	731,147		$	1,431,731

See accompanying notes.

244

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica  Foxhall Emerging Markets/Pacific Rim VP - SC Subaccount			Transamerica Hanlon Growth VP - SC Subaccount			Transamerica Hanlon Growth and Income VP - SC Subaccount			Transamerica Hanlon Balanced VP - SC Subaccount
	2009(1)			2009(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	(1,706	)	$	(429	)	$	(172	)	$	(844	)
Net realized capital gains (losses) on investments		—			3			1			31
Net change in unrealized appreciation/depreciation of investments		23,477			9,263			3,760			15,704
Increase (decrease) in net assets from operations		21,771			8,837			3,589			14,891
Contract transactions
Net contract purchase payments		501,401			321,799			253,024			563,849
Transfer payments from (to) other subaccounts or general account		1,448,636			274,922			142,216			588,644
Contract terminations, withdrawals, and other deductions		(781	)		(600	)		(600	)		(2,104	)
Contract maintenance charges		(145	)		(11	)		—			(25	)
Increase (decrease) in net assets from contract transactions		1,949,111			596,110			394,640			1,150,364
Net increase (decrease) in net assets		1,970,882			604,947			398,229			1,165,255
Net assets:
Beginning of the period		—			—			—			—
End of the period	$	1,970,882		$	604,947		$	398,229		$	1,165,255

See accompanying notes.

245

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Transamerica Hanlon Managed Income VP  - SC Subaccount			Transamerica Index 35 VP -  SC Subaccount			Transamerica Index 100 VP - SC Subaccount			Transamerica JPMorgan Mid  Cap Value VP - SC Subaccount
	2009(1)			2009(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	(4,831	)	$	(136	)	$	(58	)	$	(62	)
Net realized capital gains (losses) on investments		—			5			7			6
Net change in unrealized appreciation/depreciation of investments		13,224			(855	)		872			1,282
Increase (decrease) in net assets from operations		8,393			(986	)		821			1,226
Contract transactions
Net contract purchase payments		4,590,389			197,709			106,776			21,050
Transfer payments from (to) other subaccounts or general account		4,990,379			10,563			190,846			58,907
Contract terminations, withdrawals, and other deductions		(3,041	)		(669	)		(606	)		(606	)
Contract maintenance charges		(847	)		—			—			(107	)
Increase (decrease) in net assets from contract transactions		9,576,880			207,603			297,016			79,244
Net increase (decrease) in net assets		9,585,273			206,617			297,837			80,470
Net assets:
Beginning of the period		—			—			—			—
End of the period	$	9,585,273		$	206,617		$	297,837		$	80,470

See accompanying notes.

246

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	AIM V.I. Basic Value Subaccount						AIM V.I. Capital Appreciation Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(39,900	)	$	(317,545	)	$	(59,447	)	$	(106,598	)
Net realized capital gains (losses) on investments		(4,084,620	)		7,389,706			(166,819	)		307,891
Net change in unrealized appreciation/depreciation of investments		11,786,801			(28,152,809	)		1,153,496			(4,154,585	)
Increase (decrease) in net assets from operations		7,662,281			(21,080,648	)		927,230			(3,953,292	)
Contract transactions
Net contract purchase payments		943,981			223,507			413,893			465,108
Transfer payments from (to) other subaccounts or general account		535,822			(5,775,431	)		126,898			(743,623	)
Contract terminations, withdrawals, and other deductions		(1,316,118	)		(2,743,253	)		(247,572	)		(593,682	)
Contract maintenance charges		(121,635	)		(152,710	)		(31,257	)		(33,853	)
Increase (decrease) in net assets from contract transactions		42,050			(8,447,887	)		261,962			(906,050	)
Net increase (decrease) in net assets		7,704,331			(29,528,535	)		1,189,192			(4,859,342	)
Net assets:
Beginning of the period		17,407,911			46,936,446			4,921,070			9,780,412
End of the period	$	25,112,242		$	17,407,911		$	6,110,262		$	4,921,070

See accompanying notes.

247

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	AllianceBernstein Growth & Income Subaccount						AllianceBernstein Large Cap  Growth Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	778,807		$	204,859		$	(261,852	)	$	(352,504	)
Net realized capital gains (losses) on investments		(4,093,528	)		11,752,021			75,754			1,093,145
Net change in unrealized appreciation/depreciation of investments		9,693,320			(43,359,164	)		5,639,648			(12,759,778	)
Increase (decrease) in net assets from operations		6,378,599			(31,402,284	)		5,453,550			(12,019,137	)
Contract transactions
Net contract purchase payments		816,780			706,505			547,104			605,713
Transfer payments from (to) other subaccounts or general account		(3,546,367	)		(4,894,994	)		563,824			(1,675,171	)
Contract terminations, withdrawals, and other deductions		(2,741,150	)		(5,358,882	)		(1,170,613	)		(1,847,450	)
Contract maintenance charges		(205,095	)		(247,518	)		(90,263	)		(98,265	)
Increase (decrease) in net assets from contract transactions		(5,675,832	)		(9,794,889	)		(149,948	)		(3,015,173	)
Net increase (decrease) in net assets		702,767			(41,197,173	)		5,303,602			(15,034,310	)
Net assets:
Beginning of the period		39,258,756			80,455,929			16,214,023			31,248,333
End of the period	$	39,961,523		$	39,258,756		$	21,517,625		$	16,214,023

See accompanying notes.

248

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	AllianceBernstein Balanced Wealth Strategy Subaccount						Janus Aspen-Enterprise Subaccount
	2009			2008(1)			2009			2008
Operations
Net investment income (loss)	$	(37,411	)	$	(175	)	$	(246,755	)	$	(342,636	)
Net realized capital gains (losses) on investments		245,105			(270	)		(3,437,000	)		2,994,433
Net change in unrealized appreciation/depreciation of investments		1,101,197			9,888			9,789,273			(16,140,338	)
Increase (decrease) in net assets from operations		1,308,891			9,443			6,105,518			(13,488,541	)
Contract transactions
Net contract purchase payments		7,032,520			92,638			548,494			445,325
Transfer payments from (to) other subaccounts or general account		1,589,609			57,416			(1,985,749	)		(285,889	)
Contract terminations, withdrawals, and other deductions		(34,495	)		(3,165	)		(1,222,750	)		(2,133,780	)
Contract maintenance charges		(5,108	)		—			(89,057	)		(102,378	)
Increase (decrease) in net assets from contract transactions		8,582,526			146,889			(2,749,062	)		(2,076,722	)
Net increase (decrease) in net assets		9,891,417			156,332			3,356,456			(15,565,263	)
Net assets:
Beginning of the period		156,332			—			15,433,329			30,998,592
End of the period	$	10,047,749		$	156,332		$	18,789,785		$	15,433,329

See accompanying notes.

249

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Janus Aspen Perkins-Mid Cap Value Subaccount						Janus Aspen-Worldwide Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(31,194	)	$	(40,827	)	$	(42,138	)	$	(191,372	)
Net realized capital gains (losses) on investments		152,242			777,674			(1,823,236	)		2,870,656
Net change in unrealized appreciation/depreciation of investments		676,105			(1,951,717	)		10,082,852			(24,103,524	)
Increase (decrease) in net assets from operations		797,153			(1,214,870	)		8,217,478			(21,424,240	)
Contract transactions
Net contract purchase payments		245			3,774			866,708			475,607
Transfer payments from (to) other subaccounts or general account		(111,937	)		(308,344	)		5,622,010			(2,853,248	)
Contract terminations, withdrawals, and other deductions		(290,886	)		(665,712	)		(1,844,917	)		(2,954,385	)
Contract maintenance charges		(11,810	)		(12,820	)		(152,870	)		(174,028	)
Increase (decrease) in net assets from contract transactions		(414,388	)		(983,102	)		4,490,931			(5,506,054	)
Net increase (decrease) in net assets		382,765			(2,197,972	)		12,708,409			(26,930,294	)
Net assets:
Beginning of the period		2,755,067			4,953,039			22,746,673			49,676,967
End of the period	$	3,137,832		$	2,755,067		$	35,455,082		$	22,746,673

See accompanying notes.

250

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	MFS New Discovery Subaccount						MFS Total Return Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(231,834	)	$	(244,532	)	$	1,106,808		$	1,046,997
Net realized capital gains (losses) on investments		(1,892,445	)		1,985,031			(2,773,728	)		4,929,135
Net change in unrealized appreciation/depreciation of investments		9,436,711			(9,737,260	)		10,530,119			(24,663,579	)
Increase (decrease) in net assets from operations		7,312,432			(7,996,761	)		8,863,199			(18,687,447	)
Contract transactions
Net contract purchase payments		1,894,636			257,598			1,654,940			1,031,520
Transfer payments from (to) other subaccounts or general account		5,438,909			(2,055,725	)		289,761			(4,526,678	)
Contract terminations, withdrawals, and other deductions		(914,302	)		(1,784,172	)		(3,684,045	)		(6,920,254	)
Contract maintenance charges		(81,526	)		(71,893	)		(326,684	)		(328,430	)
Increase (decrease) in net assets from contract transactions		6,337,717			(3,654,192	)		(2,066,028	)		(10,743,842	)
Net increase (decrease) in net assets		13,650,149			(11,650,953	)		6,797,171			(29,431,289	)
Net assets:
Beginning of the period		10,829,606			22,480,559			56,591,135			86,022,424
End of the period	$	24,479,755		$	10,829,606		$	63,388,306		$	56,591,135

See accompanying notes.

251

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Fidelity-VIP Contrafund® Subaccount						Fidelity-VIP Equity-Income Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(433,140	)	$	(1,540,129	)	$	235,793		$	429,730
Net realized capital gains (losses) on investments		(8,127,689	)		10,991,506			(6,758,582	)		(624,256	)
Net change in unrealized appreciation/depreciation of investments		52,728,653			(125,398,884	)		16,492,202			(34,834,312	)
Increase (decrease) in net assets from operations		44,167,824			(115,947,507	)		9,969,413			(35,028,838	)
Contract transactions
Net contract purchase payments		4,569,182			3,509,756			800,812			689,536
Transfer payments from (to) other subaccounts or general account		(3,463,755	)		(3,694,483	)		(3,745,297	)		(7,538,662	)
Contract terminations, withdrawals, and other deductions		(10,349,496	)		(16,352,810	)		(2,699,003	)		(6,076,940	)
Contract maintenance charges		(825,970	)		(915,814	)		(225,965	)		(277,824	)
Increase (decrease) in net assets from contract transactions		(10,070,039	)		(17,453,351	)		(5,869,453	)		(13,203,890	)
Net increase (decrease) in net assets		34,097,785			(133,400,858	)		4,099,960			(48,232,728	)
Net assets:
Beginning of the period		140,544,144			273,945,002			41,416,391			89,649,119
End of the period	$	174,641,929		$	140,544,144		$	45,516,351		$	41,416,391

See accompanying notes.

252

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Fidelity-VIP Growth Subaccount						Fidelity-VIP Growth  Opportunities Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(273,642	)	$	(343,814	)	$	(20,666	)	$	(39,402	)
Net realized capital gains (losses) on investments		(2,465,960	)		2,343,612			(37,750	)		90,080
Net change in unrealized appreciation/depreciation of investments		7,695,987			(24,268,624	)		678,655			(2,226,662	)
Increase (decrease) in net assets from operations		4,956,385			(22,268,826	)		620,239			(2,175,984	)
Contract transactions
Net contract purchase payments		1,387,486			1,259,831			137,937			2,744
Transfer payments from (to) other subaccounts or general account		(2,959,130	)		(2,939,344	)		(219,303	)		(242,674	)
Contract terminations, withdrawals, and other deductions		(1,595,123	)		(2,550,558	)		(183,504	)		(282,580	)
Contract maintenance charges		(121,690	)		(159,299	)		(9,345	)		(11,746	)
Increase (decrease) in net assets from contract transactions		(3,288,457	)		(4,389,370	)		(274,215	)		(534,256	)
Net increase (decrease) in net assets		1,667,928			(26,658,196	)		346,024			(2,710,240	)
Net assets:
Beginning of the period		22,538,053			49,196,249			1,565,128			4,275,368
End of the period	$	24,205,981		$	22,538,053		$	1,911,152		$	1,565,128

See accompanying notes.

253

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Fidelity-VIP Mid Cap Subaccount						Fidelity-VIP Value Strategies Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(1,761,579	)	$	(3,181,814	)	$	(481,931	)	$	(651,495	)
Net realized capital gains (losses) on investments		(4,398,014	)		63,060,218			(11,832,370	)		4,641,951
Net change in unrealized appreciation/depreciation of investments		61,108,742			(182,593,389	)		31,873,157			(47,643,102	)
Increase (decrease) in net assets from operations		54,949,149			(122,714,985	)		19,558,856			(43,652,646	)
Contract transactions
Net contract purchase payments		3,404,568			2,245,129			1,290,135			880,494
Transfer payments from (to) other subaccounts or general account		(14,599,039	)		(29,447,087	)		(2,630,858	)		(11,550,841	)
Contract terminations, withdrawals, and other deductions		(13,697,805	)		(21,929,259	)		(3,046,848	)		(5,347,685	)
Contract maintenance charges		(943,751	)		(1,078,324	)		(253,767	)		(304,753	)
Increase (decrease) in net assets from contract transactions		(25,836,027	)		(50,209,541	)		(4,641,338	)		(16,322,785	)
Net increase (decrease) in net assets		29,113,122			(172,924,526	)		14,917,518			(59,975,431	)
Net assets:
Beginning of the period		163,375,898			336,300,424			37,313,777			97,289,208
End of the period	$	192,489,020		$	163,375,898		$	52,231,295		$	37,313,777

See accompanying notes.

254

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Fidelity-VIP Balanced Subaccount						Franklin Income Securities Subaccount
	2009			2008(1)			2009			2008
Operations
Net investment income (loss)	$	110,163		$	51,920		$	1,029,028		$	391,604
Net realized capital gains (losses) on investments		(86,283	)		(22,667	)		(1,026,834	)		(384,480	)
Net change in unrealized appreciation/depreciation of investments		3,704,000			(620,042	)		5,450,016			(3,928,145	)
Increase (decrease) in net assets from operations		3,727,880			(590,789	)		5,452,210			(3,921,021	)
Contract transactions
Net contract purchase payments		8,839,274			3,659,693			2,818,583			2,627,734
Transfer payments from (to) other subaccounts or general account		1,710,947			813,564			11,975,770			6,178,634
Contract terminations, withdrawals, and other deductions		(444,993	)		(26,812	)		(1,806,780	)		(791,949	)
Contract maintenance charges		(38,679	)		(5	)		(69,391	)		(23,432	)
Increase (decrease) in net assets from contract transactions		10,066,549			4,446,440			12,918,182			7,990,987
Net increase (decrease) in net assets		13,794,429			3,855,651			18,370,392			4,069,966
Net assets:
Beginning of the period		3,855,651			—			10,626,894			6,556,928
End of the period	$	17,650,080		$	3,855,651		$	28,997,286		$	10,626,894

See accompanying notes.

255

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Mutual Shares Securities Subaccount					Templeton Foreign Securities Subaccount
	2009		2008			2009			2008
Operations
Net investment income (loss)	$	35,964	$	103,437		$	212,271		$	191,439
Net realized capital gains (losses) on investments		(1,838,289)		(544,372	)		(3,496,217	)		(1,318,109	)
Net change in unrealized appreciation/depreciation of investments		3,210,284		(2,290,578	)		8,429,231			(8,102,332	)
Increase (decrease) in net assets from operations		1,407,959		(2,731,513	)		5,145,285			(9,229,002	)
Contract transactions
Net contract purchase payments		872,623		708,395			2,165,559			1,222,985
Transfer payments from (to) other subaccounts or general account		2,600,579		1,218,635			11,826,491			7,085,255
Contract terminations, withdrawals, and other deductions		(818,854)		(365,493	)		(1,028,408	)		(1,235,365	)
Contract maintenance charges		(30,471)		(21,428	)		(90,428	)		(67,729	)
Increase (decrease) in net assets from contract transactions		2,623,877		1,540,109			12,873,214			7,005,146
Net increase (decrease) in net assets		4,031,836		(1,191,404	)		18,018,499			(2,223,856	)
Net assets:
Beginning of the period		5,714,459		6,905,863			12,872,321			15,096,177
End of the period	$	9,746,295	$	5,714,459		$	30,890,820		$	12,872,321

See accompanying notes.

256

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Franklin Templeton Founding Funds Allocation Subaccount					American Funds – Asset Allocation  Fund Subaccount			American Funds – Bond Fund Subaccount
	2009		2008(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	389,205	$	6,513		$	134		$	1,758
Net realized capital gains (losses) on investments		322,210		6,459			5			(1	)
Net change in unrealized appreciation/depreciation of investments		2,996,362		15,004			(145	)		(3,259	)
Increase (decrease) in net assets from operations		3,707,777		27,976			(6	)		(1,502	)
Contract transactions
Net contract purchase payments		17,449,387		450,964			491,485			439,892
Transfer payments from (to) other subaccounts or general account		4,190,318		16,988			252,721			63,493
Contract terminations, withdrawals, and other deductions		(272,012)		(3,135	)		(505	)		(500	)
Contract maintenance charges		(19,574)		—			—			—
Increase (decrease) in net assets from contract transactions		21,348,119		464,817			743,701			502,885
Net increase (decrease) in net assets		25,055,896		492,793			743,695			501,383
Net assets:
Beginning of the period		492,793		—			—			—
End of the period	$	25,548,689	$	492,793		$	743,695		$	501,383

See accompanying notes.

257

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	American Funds – Growth Fund Subaccount			American Funds – Growth–Income Fund Subaccount			American Funds – International Fund Subaccount			GE Investments Total Return Fund Subaccount
	2009(1)			2009(1)			2009(1)			2009(1)
Operations
Net investment income (loss)	$	183		$	537		$	278		$	1,000
Net realized capital gains (losses) on investments		44			5			4			181
Net change in unrealized appreciation/depreciation of investments		728			135			415			(224	)
Increase (decrease) in net assets from operations		955			677			697			957
Contract transactions
Net contract purchase payments		220,613			76,835			60,563			155,588
Transfer payments from (to) other subaccounts or general account		(230	)		3,183			17,037			2,252
Contract terminations, withdrawals, and other deductions		(500	)		(505	)		(505	)		(505	)
Contract maintenance charges		—			—			—			—
Increase (decrease) in net assets from contract transactions		219,883			79,513			77,095			157,335
Net increase (decrease) in net assets		220,838			80,190			77,792			158,292
Net assets:
Beginning of the period		—			—			—			—
End of the period	$	220,838		$	80,190		$	77,792		$	158,292

See accompanying notes.

258

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	MTB Managed Allocation Fund-Moderate Growth II Subaccount						BlackRock Basic Value V.I. Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(9,262	)	$	(4,295	)	$	167,375		$	260,050
Net realized capital gains (losses) on investments		(100,519	)		(80,629	)		(1,004,814	)		327,779
Net change in unrealized appreciation/depreciation of investments		250,577			(352,262	)		7,933,117			(19,018,209	)
Increase (decrease) in net assets from operations		140,796			(437,186	)		7,095,678			(18,430,380	)
Contract transactions
Net contract purchase payments		34,710			6,449			43,262			42,533
Transfer payments from (to) other subaccounts or general account		(152,292	)		(374,098	)		(1,337,917	)		(3,485,674	)
Contract terminations, withdrawals, and other deductions		(38,689	)		(51,168	)		(2,196,268	)		(5,716,739	)
Contract maintenance charges		(2,839	)		(8,070	)		(122,492	)		(146,421	)
Increase (decrease) in net assets from contract transactions		(159,110	)		(426,887	)		(3,613,415	)		(9,306,301	)
Net increase (decrease) in net assets		(18,314	)		(864,073	)		3,482,263			(27,736,681	)
Net assets:
Beginning of the period		759,948			1,624,021			27,222,322			54,959,003
End of the period	$	741,634		$	759,948		$	30,704,585		$	27,222,322

See accompanying notes.

259

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	BlackRock High Income V.I. Subaccount						BlackRock Global Allocation V.I. Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	620,518		$	697,137		$	119,299		$	242,889
Net realized capital gains (losses) on investments		(821,260	)		(162,255	)		(323,678	)		730,534
Net change in unrealized appreciation/depreciation of investments		3,625,383			(3,443,382	)		4,704,904			(7,221,688	)
Increase (decrease) in net assets from operations		3,424,641			(2,908,500	)		4,500,525			(6,248,265	)
Contract transactions
Net contract purchase payments		14,823			1,297			135,155			3,218,210
Transfer payments from (to) other subaccounts or general account		(266,585	)		(116,307	)		453,078			7,952,851
Contract terminations, withdrawals, and other deductions		(500,235	)		(1,071,806	)		(1,416,840	)		(2,235,336	)
Contract maintenance charges		(26,245	)		(25,791	)		(85,087	)		(77,368	)
Increase (decrease) in net assets from contract transactions		(778,242	)		(1,212,607	)		(913,694	)		8,858,357
Net increase (decrease) in net assets		2,646,399			(4,121,107	)		3,586,831			2,610,092
Net assets:
Beginning of the period		6,401,759			10,522,866			24,025,516			21,415,424
End of the period	$	9,048,158		$	6,401,759		$	27,612,347		$	24,025,516

See accompanying notes.

260

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Dividend Capture Subaccount						Huntington VA Growth Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(1,092	)	$	3,760		$	(1,213	)	$	(153	)
Net realized capital gains (losses) on investments		(1,593	)		(635	)		(11,088	)		2,934
Net change in unrealized appreciation/depreciation of investments		23,444			(17,294	)		23,613			(37,098	)
Increase (decrease) in net assets from operations		20,759			(14,169	)		11,312			(34,317	)
Contract transactions
Net contract purchase payments		69,280			15,285			47,488			51,071
Transfer payments from (to) other subaccounts or general account		19,868			14,275			(5,119	)		36,091
Contract terminations, withdrawals, and other deductions		(1,300	)		(785	)		(2,484	)		(3,385	)
Contract maintenance charges		(304	)		(154	)		(342	)		(218	)
Increase (decrease) in net assets from contract transactions		87,544			28,621			39,543			83,559
Net increase (decrease) in net assets		108,303			14,452			50,855			49,242
Net assets:
Beginning of the period		31,769			17,317			57,838			8,596
End of the period	$	140,072		$	31,769		$	108,693		$	57,838

See accompanying notes.

261

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Income Equity Subaccount						Huntington VA International Equity Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(451	)	$	898		$	(5,636	)	$	3,682
Net realized capital gains (losses) on investments		(2,980	)		(2,051	)		(54,966	)		(4,306	)
Net change in unrealized appreciation/depreciation of investments		14,880			(6,964	)		188,558			(75,706	)
Increase (decrease) in net assets from operations		11,449			(8,117	)		127,956			(76,330	)
Contract transactions
Net contract purchase payments		40,724			17,063			346,985			113,795
Transfer payments from (to) other subaccounts or general account		552			(7,045	)		1,669			116,403
Contract terminations, withdrawals, and other deductions		(1,350	)		(1,690	)		(12,346	)		(6,122	)
Contract maintenance charges		(99	)		(60	)		(1,612	)		(391	)
Increase (decrease) in net assets from contract transactions		39,827			8,268			334,696			223,685
Net increase (decrease) in net assets		51,276			151			462,652			147,355
Net assets:
Beginning of the period		11,767			11,616			170,367			23,012
End of the period	$	63,043		$	11,767		$	633,019		$	170,367

See accompanying notes.

262

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Macro 100 Subaccount					Huntington VA Mid Corp America Subaccount
	2009			2008		2009			2008
Operations
Net investment income (loss)	$	(2	)	$	—	$	(839	)	$	4
Net realized capital gains (losses) on investments		—			—		(1,882	)		(2,267	)
Net change in unrealized appreciation/depreciation of investments		22			—		22,575			(12,049	)
Increase (decrease) in net assets from operations		20			—		19,854			(14,312	)
Contract transactions
Net contract purchase payments		2,500			—		120,320			27,395
Transfer payments from (to) other subaccounts or general account		1			—		4,999			(9,547	)
Contract terminations, withdrawals, and other deductions		—			—		(1,120	)		(1,256	)
Contract maintenance charges		—			—		(231	)		(48	)
Increase (decrease) in net assets from contract transactions		2,501			—		123,968			16,544
Net increase (decrease) in net assets		2,521			—		143,822			2,232
Net assets:
Beginning of the period		—			—		19,905			17,673
End of the period	$	2,521		$	—	$	163,727		$	19,905

See accompanying notes.

263

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Mortgage Securities Subaccount						Huntington VA New Economy Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(6,263	)	$	20,798		$	(886	)	$	(71	)
Net realized capital gains (losses) on investments		(9,321	)		28			(16,974	)		(2,038	)
Net change in unrealized appreciation/depreciation of investments		34,296			(20,861	)		34,879			(28,261	)
Increase (decrease) in net assets from operations		18,712			(35	)		17,019			(30,370	)
Contract transactions
Net contract purchase payments		305,244			217,971			58,139			56,836
Transfer payments from (to) other subaccounts or general account		(68,715	)		17,091			15,515			(16,266	)
Contract terminations, withdrawals, and other deductions		(17,894	)		(9,872	)		(2,649	)		(4,669	)
Contract maintenance charges		(976	)		(266	)		(194	)		(69	)
Increase (decrease) in net assets from contract transactions		217,659			224,924			70,811			35,832
Net increase (decrease) in net assets		236,371			224,889			87,830			5,462
Net assets:
Beginning of the period		320,353			95,464			26,859			21,397
End of the period	$	556,724		$	320,353		$	114,689		$	26,859

See accompanying notes.

264

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Real Strategies Subaccount						Huntington VA Rotating Markets Subaccount
	2009			2008			2009			2008
Operations
Net investment income (loss)	$	(1,267	)	$	171		$	(621	)	$	184
Net realized capital gains (losses) on investments		(2,368	)		(1,457	)		(3,948	)		(1,269	)
Net change in unrealized appreciation/depreciation of investments		26,468			(22,621	)		18,372			(6,213	)
Increase (decrease) in net assets from operations		22,833			(23,907	)		13,803			(7,298	)
Contract transactions
Net contract purchase payments		118,460			26,758			30,978			5,450
Transfer payments from (to) other subaccounts or general account		31,967			15,762			21,592			(4,670	)
Contract terminations, withdrawals, and other deductions		(2,615	)		(2,962	)		(1,875	)		(2,753	)
Contract maintenance charges		(206	)		(66	)		(88	)		(70	)
Increase (decrease) in net assets from contract transactions		147,606			39,492			50,607			(2,043	)
Net increase (decrease) in net assets		170,439			15,585			64,410			(9,341	)
Net assets:
Beginning of the period		25,378			9,793			8,632			17,973
End of the period	$	195,817		$	25,378		$	73,042		$	8,632

See accompanying notes.

265

Transamerica Life Insurance Company Separate

Account VA B

Statements of Changes in Net Assets

Years Ended December 31, 2009 and 2008, Except as Noted

	Huntington VA Situs Subaccount						Huntington VA Balanced Allocation Subaccount
	2009			2008			2009			2008(1)
Operations
Net investment income (loss)	$	(4,564	)	$	(1,799	)	$	(12,397	)	$	(4	)
Net realized capital gains (losses) on investments		(24,500	)		(14,069	)		3,838			(26	)
Net change in unrealized appreciation/depreciation of investments		124,970			(66,665	)		187,129			399
Increase (decrease) in net assets from operations		95,906			(82,533	)		178,570			369
Contract transactions
Net contract purchase payments		279,323			153,815			2,555,328			18,592
Transfer payments from (to) other subaccounts or general account		20,854			57,595			893,693			9,708
Contract terminations, withdrawals, and other deductions		(5,876	)		(5,621	)		(44,151	)		(651	)
Contract maintenance charges		(1,470	)		(341	)		(2,848	)		—
Increase (decrease) in net assets from contract transactions		292,831			205,448			3,402,022			27,649
Net increase (decrease) in net assets		388,737			122,915			3,580,592			28,018
Net assets:
Beginning of the period		170,683			47,768			28,018			—
End of the period	$	559,420		$	170,683		$	3,608,610		$	28,018

See accompanying notes.

266

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies

Organization

The Transamerica Life Insurance Company Separate Account VA B (the Mutual Fund Account or the Company) is a segregated investment account of Transamerica Life Insurance Company (Transamerica Life), an indirect wholly owned subsidiary of AEGON N.V., a holding company organized under the laws of The Netherlands.

The Mutual Fund Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. The Mutual Fund Account consists of multiple investment subaccounts (each a Series Fund and collectively the Series Funds). Each Series Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specific investment subaccounts, except for those of the MTB Group of Funds-Class VA, BlackRock Variable Series Funds, and Huntington VA Funds are available to contract owners of the Transamerica Landmark Variable Annuity, and the Transamerica Freedom Variable Annuity, issued by Transamerica Life. The MTB Group of Funds-Class VA subaccounts are available to the contract owners of the Transamerica Landmark Select Variable Annuity. The BlackRock Variable Series subaccounts are available to the contract owners of the Transamerica Landmark ML Variable Annuity. The Huntington VA subaccounts are available to the contract owners of the Transamerica Huntington Landmark Variable Annuity (which commenced operations September 10, 2007). The remaining subaccounts (not included herein) are available to the contract owners of the Transamerica Landmark Variable Annuity and the Transamerica Freedom Variable Annuity. Activity in all but one of these specific subaccounts is available to contract owners. The Transamerica U.S. Government Securities-PAM-Service Class subaccount (“PAM”) (formerly Transamerica U.S. Government Securities-Safe Fund-Service Class) was added on November 3, 2003 solely to facilitate a contract owner purchase option. If this option is elected, assets are automatically allocated from the contract owner’s other subaccounts into the “PAM” when the policy value has dropped relative to the guaranteed amount.

Subaccount Investment by Series Fund:

Transamerica Series Trust-Initial Class

Transamerica Asset Allocation - Growth VP - Initial Class

Transamerica Asset Allocation - Conservative VP - Initial Class

Transamerica Asset Allocation - Moderate VP - Initial Class

Transamerica Asset Allocation - Moderate Growth VP - Initial Class

Transamerica Equity VP - Initial Class

Transamerica American Century Large Company Value VP - Initial Class

Transamerica MFS International Equity VP - Initial Class

Transamerica Science & Technology VP - Initial Class

Transamerica Clarion Global Real Estate Securities VP - Initial Class

Transamerica Small/Mid Cap Value VP - Initial Class

Transamerica Templeton Global VP - Initial Class

Transamerica Balanced VP - Initial Class

Transamerica Jennison Growth VP - Initial Class

Transamerica JPMorgan Enhanced Index VP - Initial Class

Transamerica Marsico Growth VP - Initial Class

Transamerica AEGON High Yield Bond VP - Initial Class

Transamerica Growth Opportunities VP - Initial Class

267

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Subaccount Investment by Series Fund: (continued)

Transamerica BlackRock Large Cap Value VP - Initial Class

Transamerica PIMCO Total Return VP - Initial Class

Transamerica Focus VP - Initial Class

Transamerica Convertible Securities VP - Initial Class

Transamerica U.S. Government Securities VP - Initial Class

Transamerica T. Rowe Price Equity Income VP - Initial Class

Transamerica T. Rowe Price Growth Stock VP - Initial Class

Transamerica T. Rowe Price Small Cap VP - Initial Class

Transamerica Van Kampen Active International Allocation VP - Initial Class

Transamerica Van Kampen Large Cap Core VP - Initial Class

Transamerica Money Market VP - Initial Class

Transamerica Van Kampen Mid-Cap Growth VP - Initial Class

Transamerica Series Trust-Service Class

Transamerica Asset Allocation - Growth VP - Service Class

Transamerica Asset Allocation - Conservative VP - Service Class

Transamerica Asset Allocation - Moderate VP - Service Class

Transamerica Asset Allocation - Moderate Growth VP - Service Class

Transamerica Equity VP - Service Class

Transamerica American Century Large Company Value VP - Service Class

Transamerica MFS International Equity VP - Service Class

Transamerica Science & Technology VP - Service Class

Transamerica Clarion Global Real Estate Securities VP - Service Class

Transamerica Templeton Global VP - Service Class

Transamerica Balanced VP - Service Class

Transamerica Jennison Growth VP - Service Class

Transamerica JPMorgan Enhanced Index VP - Service Class

Transamerica Marsico Growth VP - Service Class

Transamerica AEGON High Yield Bond VP - Service Class

Transamerica Growth Opportunities VP - Service Class

Transamerica BlackRock Large Cap Value VP - Service Class

Transamerica PIMCO Total Return VP - Service Class

Transamerica Focus VP - Service Class

Transamerica Convertible Securities VP - Service Class

Transamerica U.S. Government Securities VP - Service Class

Transamerica U.S. Government Securities VP - PAM Fund - Service Class

Transamerica T. Rowe Price Equity Income VP - Service Class

Transamerica T. Rowe Price Growth Stock VP - Service Class

Transamerica T. Rowe Price Small Cap VP - Service Class

268

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Subaccount Investment by Series Fund: (continued)

Transamerica Van Kampen Active International Allocation VP - Service Class

Transamerica Van Kampen Large Cap Core VP - Service Class

Transamerica Money Market VP - Service Class

Transamerica Van Kampen Mid-Cap Growth VP - Service Class

Transamerica International Moderate Growth VP - Service Class

Transamerica Small/Mid Cap Value VP - Service Class

Transamerica Index 50 VP - Service Class

Transamerica Index 75 VP - Service Class

Transamerica Value Balanced VP - Service Class

Transamerica Efficient Markets VP - Service Class

Transamerica BlackRock Global Allocation VP - Service Class

Transamerica BlackRock Tactical Allocation VP - Service Class

Transamerica ProFunds UltraBear VP - Service Class OAM

Transamerica Foxhall Global Growth VP - Service Class

Transamerica Foxhall Global Conservative VP - Service Class

Transamerica Foxhall Global Hard Asset VP - Service Class

Transamerica Foxhall Emerging Markets/Pacific Rim VP - Service Class

Transamerica Hanlon Growth VP - Service Class

Transamerica Hanlon Growth and Income VP - Service Class

Transamerica Hanlon Balanced VP - Service Class

Transamerica Hanlon Managed Income VP - Service Class

Transamerica Index 35 VP - Service Class

Transamerica Index 100 VP - Service Class

Transamerica JPMorgan Mid Cap Value VP - Service Class

AIM Variable Insurance Funds - Series II

AIM V.I. Basic Value Fund-Series II

AIM V.I. Capital Appreciation Fund-Series II

AllianceBernstein Variable Products Series Fund, Inc.-Class B

AllianceBernstein Growth & Income Portfolio-Class B

AllianceBernstein Large Cap Growth Portfolio-Class B

AllianceBernstein Balanced Wealth Strategy Portfolio-Class B

Janus Aspen Series-Service Shares

Janus Aspen-Enterpriseh Portfolio-Service Shares

Janus Aspen Perkins-Mid Cap Value Portfolio-Service Shares

Janus Aspen-Worldwide-Service Shares

MFS® Variable Insurance TrustSM-Service Class

MFS New Discovery Series-Service Class

MFS Total Return Series-Service Class

269

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Subaccount Investment by Series Fund: (continued)

Variable Insurance Products Fund (VIP) - Service Class 2

Fidelity-VIP Contrafund® Portfolio-Service Class 2

Fidelity-VIP Equity-Income Portfolio-Service Class 2

Fidelity-VIP Growth Portfolio-Service Class 2

Fidelity-VIP Growth Opportunities Portfolio - Service Class 2

Fidelity-VIP Mid Cap Portfolio-Service Class 2

Fidelity-VIP Value Strategies Portfolio-Service Class 2

Fidelity-VIP Balanced Portfolio-Service Class 2

Franklin Templeton Variable Insurance Products Trust

Franklin Income Securities Fund - Class 2

Mutual Shares Securities Fund - Class 2

Templeton Foreign Securities Fund - Class 2

Franklin Templeton Founding Funds Allocation - Class 4

American Funds Unsurance Series Trust - Class 2

American Funds – Asset Allocation Fund

American Funds – Bond Fund

American Funds – Growth Fund

American Funds – Growth–Income Fund

American Funds – International Fund

GE Investments Funds, Inc. - Class 3

GE Investments Total Return Fund

MTB Group of Funds - Class VA

MTB Managed Allocation Fund-Moderate Growth II

BlackRock Variable Series Funds, Inc.

BlackRock Basic Value V.I. Fund

BlackRock High Income V.I. Fund

BlackRock Global Allocation V.I. Fund

Huntington VA Funds

Huntington VA Dividend Capture Fund

Huntington VA Growth Fund

Huntington VA Income Equity Fund

Huntington VA International Equity Fund

Huntington VA Macro 100 Fund

Huntington VA Mid Corp America Fund

Huntington VA Mortgage Securities Fund

Huntington VA New Economy Fund

Huntington VA Real Strategies Fund

Huntington VA Rotating Markets Fund

Huntington VA Situs Fund

Huntington VA Balanced Allocation Fund

270

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Each period reported on reflects a full twelve month period except as follows:

Subaccount	Inception Date
Transamerica International Moderate Growth VP - Service Class	May 1, 2006
Franklin Income Securities Fund - Class 2	May 1, 2007
Mutual Shares Securities Fund - Class 2	May 1, 2007
Templeton Foreign Securities Fund - Class 2	May 1, 2007
Huntington VA Dividend Capture Fund	September 10, 2007
Huntington VA Growth Fund	September 10, 2007
Huntington VA Income Equity Fund	September 10, 2007
Huntington VA International Equity Fund	September 10, 2007
Huntington VA Macro 100 Fund	September 10, 2007
Huntington VA Mid Corp America Fund	September 10, 2007
Huntington VA Mortgage Securities Fund	September 10, 2007
Huntington VA New Economy Fund	September 10, 2007
Huntington VA Real Strategies Fund	September 10, 2007
Huntington VA Rotating Markets Fund	September 10, 2007
Huntington VA Situs Fund	September 10, 2007
Transamerica Small/Mid Cap Value VP - Service Class	January 21, 2008
Fidelity-VIP Balanced Portfolio-Service Class 2	May 1, 2008
Transamerica Index 50 VP - Service Class	May 1, 2008
Transamerica Index 75 VP - Service Class	May 1, 2008
Transamerica Value Balanced VP - Service Class	May 1, 2008
Transamerica Efficient Markets VP - Service Class	November 10, 2008
AllianceBernstein Balanced Wealth Strategy Portfolio-Class B	November 10, 2008
Franklin Templeton Founding Funds Allocation - Class 4	November 10, 2008
Huntington VA Balanced Allocation Fund	November 10, 2008
Transamerica BlackRock Global Allocation VP - Service Class	May 1, 2009
Transamerica BlackRock Tactical Allocation VP - Service Class	May 1, 2009
Transamerica ProFunds UltraBear VP - Service Class OAM	May 1, 2009
Transamerica Efficient Markets VP - Service Class	November 19, 2009

271

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Each period reported on reflects a full twelve month period except as follows:

Subaccount	Inception Date
Transamerica ProFunds UltraBear VP - Service Class OAM	November 19, 2009
Transamerica Foxhall Global Growth VP - Service Class	November 19, 2009
Transamerica Foxhall Global Conservative VP - Service Class	November 19, 2009
Transamerica Foxhall Global Hard Asset VP - Service Class	November 19, 2009
Transamerica Foxhall Emerging Markets/Pacific Rim VP - Service Class	November 19, 2009
Transamerica Hanlon Growth VP - Service Class	November 19, 2009
Transamerica Hanlon Growth and Income VP - Service Class	November 19, 2009
Transamerica Hanlon Balanced VP - Service Class	November 19, 2009
Transamerica Hanlon Managed Income VP - Service Class	November 19, 2009
Transamerica Index 35 VP - Service Class	November 19, 2009
Transamerica Index 100 VP - Service Class	November 19, 2009
Transamerica JPMorgan Mid Cap Value VP - Service Class	November 19, 2009
American Funds – Bond Fund	November 19, 2009
American Funds – Growth Fund	November 19, 2009
American Funds – Growth–Income Fund	November 19, 2009
American Funds – International Fund	November 19, 2009
GE Investments Total Return Fund	November 19, 2009

The following Portfolio name changes were made effective during the fiscal year ended December 31, 2009:

Portfolio	Formerly
Transamerica AEGON High Yield Bond VP	Transamerica MFS High Yield VP
Transamerica Focus VP	Transamerica Legg Mason Partners All Cap VP
Janus Aspen-Enterprise	Janus Aspen-Mid Cap Growth
Janus Aspen-Worldwide	Janus Aspen-Worldwide Growth

The following Portfolio mergers were made effective during the fiscal year ended December 31, 2009:

Portfolio	Formerly
Transamerica Templeton Global VP	Transamerica Capital Guardian Global VP
Transamerica Van Kampen Large Cap Core VP	Transamerica Capital Guardian U.S. Equity VP
Transamerica BlackRock Large Cap Value VP	Transamerica Capital Guardian Value VP

As of May 1, 2003, new contract holders may only invest in the Service Class subaccounts. The Initial Class subaccounts are only available to contract holders that had purchases prior to May 1, 2003. The Service Class has a Rule 12b-1 Plan (and higher expenses) and the Initial Class does not.

The Transamerica Marsico Growth VP subaccount was re-opened May 1, 2003. If the contract holder purchased the policy prior to May 1, 2003, they can only invest in the Initial Class. If the contract holder purchased the policy on May 1, 2003, or after, they may only invest in Service Class.

272

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

1. Organization and Summary of Significant Accounting Policies (continued)

Investments

Net purchase payments received by the Mutual Fund Account are invested in the portfolios of the Series Funds, as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2009.

Realized capital gains and losses from the sales of shares in the Series Funds are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the mutual funds are included in the Statements of Operations.

Dividend Income

Dividends received from the Series Funds investments are reinvested to purchase additional mutual fund shares.

Accounting Policy

On July 1, 2009, the FASB Accounting Standards Codification^TM (ASC or the Codification) was launched as the single source of authoritative nongovernmental accounting principles generally accepted in the United States (GAAP). Guidance in the Codification is organized by Topic, each representing a collection of related guidance (e.g., Financial Services—Insurance). Topics are further subdivided into Subtopics (e.g., Insurance Activities), and Sections (e.g., Recognition, Measurement, or Disclosure). All guidance contained in the Codification carries an equal level of authority. The Mutual Fund Account adopted guidance that establishes the Codification as the source of authoritative GAAP for the period ended September 30, 2009. The adoption required updates to the Mutual Fund Account’s financial statement disclosures, but did not impact the results of operations or financial position. This guidance was formerly known as Statement of Financial Accounting Standards (SFAS) No. 168, The FASB Accounting Standards Codification^TM and the Hierarchy of Generally Accepted Accounting Principles, a replacement of FASB Statement No. 162.

As of December 31, 2009 the Company adopted ASC 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. The adoption did not impact the Mutual Fund Account’s financial statements. Management has evaluated the financial statements for subsequent events through the date which the financial statements are issued. This guidance was formerly known as SFAS No. 165, Subsequent Events.

Effective January 1, 2008, the Mutual Fund Account adopted ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosures about fair value measurements. The adoption did not have a material impact on the Mutual Fund Account’s financial statements. This guidance was formerly known as SFAS No. 157, Fair Value Measurements. See Note 8 to the financial statements for additional disclosure.

The financial statements included herein have been prepared in accordance with GAAP for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

273

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

2. Investments

The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2009 were as follows:

	Purchases		Sales
Transamerica Series Trust-Initial Class
Transamerica Asset Allocation - Growth VP - Initial Class	$	52,977,176	$	37,566,530
Transamerica Asset Allocation - Conservative VP - Initial Class		81,441,953		102,552,902
Transamerica Asset Allocation - Moderate VP - Initial Class		98,589,523		98,254,925
Transamerica Asset Allocation - Moderate Growth VP - Initial Class		114,864,614		100,841,948
Transamerica Equity VP - Initial Class		3,984,457		24,267,272
Transamerica American Century Large Company Value VP - Initial Class		1,307,984		2,854,353
Transamerica MFS International Equity VP - Initial Class		7,054,920		13,278,821
Transamerica Science & Technology VP - Initial Class		5,596,123		4,599,857
Transamerica Clarion Global Real Estate Securities VP - Initial Class		3,882,643		5,988,049
Transamerica Small/Mid Cap Value VP - Initial Class		5,087,454		20,457,088
Transamerica Templeton Global VP - Initial Class		68,170,319		17,387,877
Transamerica Balanced VP - Initial Class		4,285,080		2,849,958
Transamerica Jennison Growth VP - Initial Class		6,342,039		4,050,063
Transamerica JPMorgan Enhanced Index VP - Initial Class		11,634,938		9,519,933
Transamerica Marsico Growth VP - Initial Class		3,605,576		7,521,810
Transamerica AEGON High Yield Bond VP - Initial Class		29,667,457		13,191,736
Transamerica Growth Opportunities VP - Initial Class		1,799,351		5,540,436
Transamerica BlackRock Large Cap Value VP - Initial Class		135,049,490		13,530,955
Transamerica PIMCO Total Return VP - Initial Class		115,650,322		30,853,705
Transamerica Focus VP - Initial Class		3,686,095		14,939,261
Transamerica Convertible Securities VP - Initial Class		13,405,860		14,051,440
Transamerica U.S. Government Securities VP - Initial Class		21,464,176		41,058,610
Transamerica T. Rowe Price Equity Income VP - Initial Class		10,060,755		28,281,419
Transamerica T. Rowe Price Growth Stock VP - Initial Class		4,299,964		17,770,415
Transamerica T. Rowe Price Small Cap VP - Initial Class		5,231,088		10,613,544
Transamerica Van Kampen Active International Allocation VP - Initial Class		9,637,792		19,408,479
Transamerica Van Kampen Large Cap Core VP - Initial Class		65,264,183		19,598,850
Transamerica Money Market VP - Initial Class		51,516,861		169,533,580
Transamerica Van Kampen Mid-Cap Growth VP - Initial Class		4,334,691		4,251,275
Transamerica Series Trust-Service Class
Transamerica Asset Allocation - Growth VP - Service Class		24,137,492		13,747,432
Transamerica Asset Allocation - Conservative VP - Service Class		132,100,940		33,476,883
Transamerica Asset Allocation - Moderate VP - Service Class		202,706,848		29,183,305
Transamerica Asset Allocation - Moderate Growth VP - Service Class		302,455,219		37,346,237
Transamerica Equity VP - Service Class		1,809,283		1,892,469

274

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

2. Investments (continued)

	Purchases		Sales
Transamerica American Century Large Company Value VP - Service Class	$	353,482	$	191,900
Transamerica MFS International Equity VP - Service Class		1,923,157		1,322,380
Transamerica Science & Technology VP - Service Class		2,129,285		754,850
Transamerica Clarion Global Real Estate Securities VP - Service Class		1,558,197		1,448,626
Transamerica Templeton Global VP - Service Class		8,025,778		1,471,387
Transamerica Balanced VP - Service Class		10,455,922		1,681,049
Transamerica Jennison Growth VP - Service Class		952,998		213,742
Transamerica JPMorgan Enhanced Index VP - Service Class		433,543		303,809
Transamerica Marsico Growth VP - Service Class		2,102,797		1,558,281
Transamerica AEGON High Yield Bond VP - Service Class		10,904,769		4,832,319
Transamerica Growth Opportunities VP - Service Class		1,090,655		462,908
Transamerica BlackRock Large Cap Value VP - Service Class		11,932,196		2,179,906
Transamerica PIMCO Total Return VP - Service Class		68,948,039		6,090,408
Transamerica Focus VP - Service Class		548,721		333,990
Transamerica Convertible Securities VP - Service Class		2,384,512		1,516,102
Transamerica U.S. Government Securities VP - Service Class		42,290,863		12,963,825
Transamerica U.S. Government Securities VP - PAM Fund - Service Class		21,873,708		79,229,396
Transamerica T. Rowe Price Equity Income VP - Service Class		2,420,660		1,093,331
Transamerica T. Rowe Price Growth Stock VP - Service Class		2,211,297		1,285,697
Transamerica T. Rowe Price Small Cap VP - Service Class		2,967,755		1,135,282
Transamerica Van Kampen Active International Allocation VP - Service Class		2,572,567		2,294,917
Transamerica Van Kampen Large Cap Core VP - Service Class		5,529,953		759,526
Transamerica Money Market VP - Service Class		63,965,189		72,714,564
Transamerica Van Kampen Mid-Cap Growth VP - Service Class		1,689,324		425,759
Transamerica International Moderate Growth VP - Service Class		47,198,391		11,364,543
Transamerica Small/Mid Cap Value VP - Service Class		2,268,434		317,865
Transamerica Index 50 VP - Service Class		39,509,603		268,324
Transamerica Index 75 VP - Service Class		68,875,011		2,690,490
Transamerica Value Balanced VP - Service Class		5,870,511		640,018
Transamerica Efficient Markets VP - Service Class		8,248,714		334,557
Transamerica BlackRock Global Allocation VP - Service Class		66,867,516		772,857
Transamerica BlackRock Tactical Allocation VP - Service Class		17,289,354		311,044
Transamerica ProFunds UltraBear VP - Service Class OAM		1,821,972		1,260,915
Transamerica Foxhall Global Growth VP - Service Class		827,898		649

275

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

2. Investments (continued)

	Purchases		Sales
Transamerica Foxhall Global Conservative VP - Service Class	$	766,818	$	33,845
Transamerica Foxhall Global Hard Asset VP - Service Class		1,439,824		3,263
Transamerica Foxhall Emerging Markets/Pacific Rim VP - Service Class		1,948,832		1,427
Transamerica Hanlon Growth VP - Service Class		596,387		705
Transamerica Hanlon Growth and Income VP - Service Class		395,119		651
Transamerica Hanlon Balanced VP - Service Class		1,151,896		2,375
Transamerica Hanlon Managed Income VP - Service Class		9,572,598		547
Transamerica Index 35 VP - Service Class		208,240		773
Transamerica Index 100 VP - Service Class		297,617		659
Transamerica JPMorgan Mid Cap Value VP - Service Class		79,948		765
AIM Variable Insurance Funds - Series II
AIM V.I. Basic Value Fund-Series II		3,533,368		3,531,169
AIM V.I. Capital Appreciation Fund-Series II		799,961		597,444
AllianceBernstein Variable Products Series Fund, Inc.-Class B
AllianceBernstein Growth & Income Portfolio-Class B		3,671,395		8,568,410
AllianceBernstein Large Cap Growth Portfolio-Class B		2,634,507		3,046,314
AllianceBernstein Balanced Wealth Strategy Portfolio-Class B		10,134,932		1,590,716
Janus Aspen Series-Service Shares
Janus Aspen-Enterpriseh Portfolio-Service Shares		3,632,748		6,628,531
Janus Aspen Perkins-Mid Cap Value Portfolio-Service Shares		109,485		476,530
Janus Aspen-Worldwide-Service Shares		10,871,567		6,422,759
MFS® Variable Insurance TrustSM-Service Class
MFS New Discovery Series-Service Class		8,814,126		2,708,259
MFS Total Return Series-Service Class		8,797,264		9,756,428
Variable Insurance Products Fund (VIP) - Service Class 2
Fidelity-VIP Contrafund® Portfolio-Service Class 2		11,489,335		21,949,579
Fidelity-VIP Equity-Income Portfolio-Service Class 2		3,367,399		9,001,049
Fidelity-VIP Growth Portfolio-Service Class 2		2,935,652		6,478,584
Fidelity-VIP Growth Opportunities Portfolio - Service Class 2		198,560		493,434
Fidelity-VIP Mid Cap Portfolio-Service Class 2		7,694,774		34,417,297
Fidelity-VIP Value Strategies Portfolio-Service Class 2		5,569,189		10,692,493
Fidelity-VIP Balanced Portfolio-Service Class 2		11,797,704		1,591,724
Franklin Templeton Variable Insurance Products Trust
Franklin Income Securities Fund - Class 2		16,530,317		2,583,044
Mutual Shares Securities Fund - Class 2		5,311,199		2,651,346
Templeton Foreign Securities Fund - Class 2		19,128,365		5,452,899
Franklin Templeton Founding Funds Allocation - Class 4		23,581,709		1,844,389

276

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

2. Investments (continued)

	Purchases		Sales
American Funds Insurance Series Trust - Class 2
American Funds – Asset Allocation Fund	$	744,413	$	579
American Funds – Bond Fund		505,243		600
American Funds – Growth Fund		223,193		3,127
American Funds – Growth–Income Fund		80,600		550
American Funds – International Fund		77,899		526
GE Investments Funds, Inc. - Class 3
GE Investments Total Return Fund		169,105		10,771
MTB Group of Funds - Class VA
MTB Managed Allocation Fund-Moderate Growth II		50,802		215,171
BlackRock Variable Series Funds, Inc.
BlackRock Basic Value V.I. Fund		942,466		4,388,505
BlackRock High Income V.I. Fund		2,097,715		2,257,229
BlackRock Global Allocation V.I. Fund		2,747,426		3,541,806
Huntington VA Funds
Huntington VA Dividend Capture Fund		88,682		2,229
Huntington VA Growth Fund		54,006		15,677
Huntington VA Income Equity Fund		44,646		5,272
Huntington VA International Equity Fund		447,611		118,554
Huntington VA Macro 100 Fund		2,501		2
Huntington VA Mid Corp America Fund		128,516		5,388
Huntington VA Mortgage Securities Fund		378,325		166,929
Huntington VA New Economy Fund		85,640		15,716
Huntington VA Real Strategies Fund		150,583		4,244
Huntington VA Rotating Markets Fund		56,965		6,978
Huntington VA Situs Fund		355,857		67,590
Huntington VA Balanced Allocation Fund		3,431,255		41,184

277

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Asset Allocation - Growth VP Subaccount		Transamerica Asset Allocation - Conservative VP Subaccount		Transamerica Asset Allocation - Moderate VP Subaccount		Transamerica Asset Allocation - Moderate Growth VP Subaccount		Transamerica Equity VP Subaccount
Units outstanding at January 1, 2008	351,864,822		271,510,446		792,140,948		1,127,588,611		283,879,833
Units purchased	8,520,945		48,606,567		99,321,676		182,786,420		2,538,901
Units redeemed and transferred	(59,941,478	)	56,281,814		(91,490,552	)	(190,887,743	)	(44,011,085	)
Units outstanding at December 31, 2008	300,444,289		376,398,827		799,972,072		1,119,487,288		242,407,649
Units purchased	14,477,310		60,811,194		96,692,158		181,609,410		4,873,596
Units redeemed and transferred	(21,313,955	)	(10,310,193	)	(11,231,207	)	(32,916,768	)	(35,766,003	)
Units outstanding at December 31, 2009	293,607,644		426,899,828		885,433,023		1,268,179,930		211,515,242

278

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica American Century Large Company Value VP Subaccount		Transamerica MFS International Equity VP Subaccount		Transamerica Science & Technology VP Subaccount		Transamerica Clarion Global Real Estate Securities VP Subaccount		Transamerica Templeton Global VP Subaccount
Units outstanding at January 1, 2008	28,503,957		85,687,522		30,164,795		39,920,169		30,718,024
Units purchased	116,055		894,521		436,160		515,946		540,040
Units redeemed and transferred	(6,833,062	)	(18,019,689	)	(5,355,655	)	(10,189,039	)	(5,597,902	)
Units outstanding at December 31, 2008	21,786,950		68,562,354		25,245,300		30,247,076		25,660,162
Units purchased	445,705		1,475,825		1,318,466		770,902		3,398,560
Units redeemed and transferred	(2,493,528	)	(8,548,796	)	606,314		(2,288,251	)	102,963,495
Units outstanding at December 31, 2009	19,739,127		61,489,383		27,170,080		28,729,727		132,022,217

279

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Balanced VP Subaccount		Transamerica Jennison Growth VP Subaccount		Transamerica JPMorgan Enhanced Index VP Subaccount		Transamerica Marsico Growth VP Subaccount		Transamerica AEGON High Yield Bond VP Subaccount
Units outstanding at January 1, 2008	20,464,582		27,500,516		88,489,862		45,618,795		65,237,746
Units purchased	3,160,235		273,397		903,721		914,790		785,773
Units redeemed and transferred	(1,912,500	)	(3,481,604	)	(13,831,756	)	(5,265,620	)	(12,367,267	)
Units outstanding at December 31, 2008	21,712,317		24,292,309		75,561,827		41,267,965		53,656,252
Units purchased	6,367,012		882,386		1,713,323		1,182,949		2,515,107
Units redeemed and transferred	2,971,427		2,862,619		(623,456	)	(6,409,726	)	12,586,582
Units outstanding at December 31, 2009	31,050,756		28,037,314		76,651,694		36,041,188		68,757,941

280

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Growth Opportunities VP Subaccount		Transamerica BlackRock Large Cap Value VP Subaccount		Transamerica PIMCO Total Return VP Subaccount	Transamerica Focus VP Subaccount		Transamerica Convertible Securities VP Subaccount
Units outstanding at January 1, 2008	37,506,754		60,237,862		179,268,797	110,812,098		32,362,294
Units purchased	311,648		1,347,527		8,770,239	872,242		473,236
Units redeemed and transferred	(8,138,036	)	(9,724,944	)	8,950,721	(22,696,148	)	(6,599,439	)
Units outstanding at December 31, 2008	29,680,366		51,860,445		196,989,757	88,988,192		26,236,091
Units purchased	964,997		2,495,267		32,785,772	985,661		747,083
Units redeemed and transferred	(3,108,144	)	103,552,102		66,605,293	(14,949,000	)	(1,530,046	)
Units outstanding at December 31, 2009	27,537,219		157,907,814		296,380,822	75,024,853		25,453,128

281

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica U.S. Government Securities VP Subaccount		Transamerica U.S. Government Securities VP - PAM Fund - SC Subaccount		Transamerica T. Rowe Price Equity Income VP Subaccount		Transamerica T. Rowe Price Growth Stock VP Subaccount		Transamerica T. Rowe Price Small Cap VP Subaccount
Units outstanding at January 1, 2008	81,431,564		5,178,923		157,698,265		96,060,943		92,857,315
Units purchased	6,631,694		—		1,465,544		796,542		1,028,510
Units redeemed and transferred	21,690,915		118,786,348		(27,113,426	)	(15,377,859	)	(15,469,638	)
Units outstanding at December 31, 2008	109,754,173		123,965,271		132,050,383		81,479,626		78,416,187
Units purchased	35,603,777		—		1,687,766		1,620,419		1,845,128
Units redeemed and transferred	(23,592,097	)	(50,444,405	)	(16,575,813	)	(7,863,039	)	(10,094,532	)
Units outstanding at December 31, 2009	121,765,853		73,520,866		117,162,336		75,237,006		70,166,783

282

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Van Kampen Active International Allocation VP Subaccount		Transamerica Van Kampen Large Cap Core VP Subaccount		Transamerica Money Market VP Subaccount		Transamerica Van Kampen Mid-Cap Growth VP Subaccount		Transamerica International Moderate Growth VP - SC Subaccount
Units outstanding at January 1, 2008	101,148,678		54,595,685		166,726,912		42,948,574		70,286,387
Units purchased	1,259,176		1,007,328		43,477,484		569,384		—
Units redeemed and transferred	(19,876,658	)	(7,306,420	)	107,670,754		(7,119,139	)	43,506,939
Units outstanding at December 31, 2008	82,531,196		48,296,593		317,875,150		36,398,819		113,793,326
Units purchased	1,893,538		1,991,616		59,049,409		1,390,349		—
Units redeemed and transferred	(10,200,567	)	39,315,378		(157,440,802	)	(446,610	)	44,844,300
Units outstanding at December 31, 2009	74,224,167		89,603,587		219,483,757		37,342,558		158,637,626

283

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Small/Mid Cap Value  VP Subaccount(1)		Transamerica Index 50 VP -  SC Subaccount(1)	Transamerica Index 75 VP -  SC Subaccount(1)	Transamerica Value Balanced VP - SC Subaccount(1)	Transamerica Efficient Markets VP -  SC Subaccount(1)
Units outstanding at January 1, 2008	73,511,327		—	—	—	—
Units purchased	681,060		—	—	—	—
Units redeemed and transferred	(10,841,275	)	6,707,702	20,462,446	2,767,641	52,057
Units outstanding at December 31, 2008	63,351,112		6,707,702	20,462,446	2,767,641	52,057
Units purchased	2,332,328		—	—	—	—
Units redeemed and transferred	(7,960,989	)	45,733,871	88,032,906	6,644,712	7,257,991
Units outstanding at December 31, 2009	57,722,451		52,441,573	108,495,352	9,412,353	7,310,048

284

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica BlackRock Global Allocation VP - SC Subaccount(1)	Transamerica BlackRock Tactical Allocation VP - SC Subaccount(1)	Transamerica ProFunds UltraBear VP - SC OAM Subaccount(1)	Transamerica Foxhall Global Growth VP - SC Subaccount(1)	Transamerica Foxhall Global Conservative VP - SC Subaccount(1)
Units outstanding at January 1, 2008	—	—	—	—	—
Units purchased	—	—	—	—	—
Units redeemed and transferred	—	—	—	—	—
Units outstanding at December 31, 2008	—	—	—	—	—
Units purchased	—	—	—	—	—
Units redeemed and transferred	57,237,568	14,707,310	639,202	829,307	743,244
Units outstanding at December 31, 2009	57,237,568	14,707,310	639,202	829,307	743,244

285

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Foxhall Global Hard Asset VP - SC Subaccount(1)	Transamerica Foxhall Emerging Markets/ Pacific Rim VP - SC Subaccount(1)	Transamerica Hanlon Growth VP - SC Subaccount(1)	Transamerica Hanlon Growth and Income VP - SC Subaccount(1)	Transamerica Hanlon Balanced VP - SC Subaccount(1)
Units outstanding at January 1, 2008	—	—	—	—	—
Units purchased	—	—	—	—	—
Units redeemed and transferred	—	—	—	—	—
Units outstanding at December 31, 2008	—	—	—	—	—
Units purchased	—	—	—	—	—
Units redeemed and transferred	1,452,049	1,952,355	592,237	389,413	1,141,493
Units outstanding at December 31, 2009	1,452,049	1,952,355	592,237	389,413	1,141,493

286

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Transamerica Hanlon Managed Income VP - SC Subaccount(1)	Transamerica Index 35 VP - SC Subaccount(1)	Transamerica Index 100 VP - SC Subaccount(1)	Transamerica JPMorgan Mid Cap  Value VP - SC Subaccount(1)	AIM V.I. Basic Value Subaccount
Units outstanding at January 1, 2008	—	—	—	—	37,303,273
Units purchased	—	—	—	—	346,895
Units redeemed and transferred	—	—	—	—	(8,457,793	)
Units outstanding at December 31, 2008	—	—	—	—	29,192,375
Units purchased	—	—	—	—	1,391,468
Units redeemed and transferred	9,549,230	206,947	290,786	78,140	(1,647,178	)
Units outstanding at December 31, 2009	9,549,230	206,947	290,786	78,140	28,936,665

287

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	AIM V.I. Capital Appreciation Subaccount		AllianceBernstein Growth & Income Subaccount		AllianceBernstein Large Cap Growth Subaccount		AllianceBernstein Balanced Wealth Strategy Subaccount(1)	Janus Aspen- Enterprise Subaccount
Units outstanding at January 1, 2008	7,509,747		63,800,491		32,264,687		—	31,800,279
Units purchased	476,417		759,399		688,067		97,164	535,194
Units redeemed and transferred	(1,293,802	)	(11,237,472	)	(4,882,386	)	57,123	(4,435,334	)
Units outstanding at December 31, 2008	6,692,362		53,322,418		28,070,368		154,287	27,900,139
Units purchased	525,917		1,279,956		769,129		6,586,287	838,684
Units redeemed and transferred	(223,681	)	(8,913,620	)	(1,319,722	)	1,364,056	(4,534,369	)
Units outstanding at December 31, 2009	6,994,598		45,688,754		27,519,775		8,104,630	24,204,454

288

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Janus Aspen Perkins-Mid Cap Value Subaccount		Janus Aspen- Worldwide Subaccount		MFS New Discovery Subaccount		MFS Total Return Subaccount		Fidelity-VIP Contrafund® Subaccount
Units outstanding at January 1, 2008	3,455,868		53,084,461		18,806,193		65,867,193		171,085,042
Units purchased	4,446		650,039		281,189		1,066,709		3,253,400
Units redeemed and transferred	(756,283	)	(8,701,733	)	(3,874,503	)	(10,188,412	)	(18,306,544	)
Units outstanding at December 31, 2008	2,704,031		45,032,767		15,212,879		56,745,490		156,031,898
Units purchased	4,350		1,502,594		2,021,611		1,876,734		5,104,949
Units redeemed and transferred	(357,361	)	5,224,708		4,216,494		(3,738,533	)	(15,942,960	)
Units outstanding at December 31, 2009	2,351,020		51,760,069		21,450,984		54,883,691		145,193,887

289

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Fidelity-VIP Equity- Income Subaccount		Fidelity-VIP Growth Subaccount		Fidelity-VIP Growth Opportunities Subaccount		Fidelity-VIP Mid Cap Subaccount		Fidelity-VIP Value Strategies Subaccount
Units outstanding at January 1, 2008	64,595,023		43,691,952		3,556,225		150,490,168		62,273,935
Units purchased	879,032		1,396,622		5,112		1,558,132		889,110
Units redeemed and transferred	(12,479,644	)	(6,680,416	)	(608,912	)	(28,843,883	)	(13,186,654	)
Units outstanding at December 31, 2008	52,994,411		38,408,158		2,952,425		123,204,417		49,976,391
Units purchased	1,240,206		2,007,289		414,973		2,812,756		1,560,500
Units redeemed and transferred	(8,693,607	)	(7,932,221	)	(858,000	)	(19,888,662	)	(6,265,264	)
Units outstanding at December 31, 2009	45,541,010		32,483,226		2,509,398		106,128,511		45,271,627

290

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Fidelity-VIP Balanced Subaccount(1)	Franklin Income Securities Subaccount	Mutual Shares Securities Subaccount	Templeton Foreign Securities Subaccount	Franklin Templeton Founding  Funds Allocation Subaccount(1)
Units outstanding at January 1, 2008	—	6,760,864	7,163,394	14,131,536	—
Units purchased	4,696,366	2,957,026	891,326	1,332,892	483,172
Units redeemed and transferred	1,091,321	6,089,716	1,505,882	5,050,177	14,416
Units outstanding at December 31, 2008	5,787,687	15,807,606	9,560,602	20,514,605	497,588
Units purchased	11,863,061	3,559,455	1,340,412	2,864,044	16,313,330
Units redeemed and transferred	1,783,432	12,914,600	2,228,776	13,078,045	3,346,570
Units outstanding at December 31, 2009	19,434,180	32,281,661	13,129,790	36,456,694	20,157,488

291

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	American Funds – Asset Allocation Fund Subaccount(1)	American Funds – Bond Fund Subaccount(1)	American Funds – Growth Fund Subaccount(1)		American Funds – Growth–Income Fund Subaccount(1)	American Funds – International Fund Subaccount(1)
Units outstanding at January 1, 2008	—	—	—		—	—
Units purchased	—	—	—		—	—
Units redeemed and transferred	—	—	—		—	—
Units outstanding at December 31, 2008	—	—	—		—	—
Units purchased	486,252	441,549	220,658		76,876	62,389
Units redeemed and transferred	251,380	62,887	(530	)	2,631	16,937
Units outstanding at December 31, 2009	737,632	504,436	220,128		79,507	79,326

292

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	GE Investments Total Return Fund Subaccount(1)	MTB Managed Allocation  Fund- Moderate Growth II Subaccount		BlackRock Basic  Value V.I. Subaccount		BlackRock High  Income V.I. Subaccount		BlackRock Global Allocation  V.I. Subaccount
Units outstanding at January 1, 2008	—	1,313,746		31,124,324		7,327,648		13,390,022
Units purchased	—	5,592		75,814		9,134		1,738,759
Units redeemed and transferred	—	(441,407	)	(6,425,221	)	(959,915	)	3,292,208
Units outstanding at December 31, 2008	—	877,931		24,774,917		6,376,867		18,420,989
Units purchased	155,847	42,370		176,347		29,063		219,598
Units redeemed and transferred	1,834	(229,866	)	(3,485,714	)	(567,077	)	(901,199	)
Units outstanding at December 31, 2009	157,681	690,435		21,465,550		5,838,853		17,739,388

293

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Huntington VA Dividend Capture Subaccount	Huntington  VA Growth Subaccount		Huntington VA Income Equity Subaccount		Huntington VA International Equity Subaccount	Huntington VA Macro 100 Subaccount
Units outstanding at January 1, 2008	18,278	7,929		11,874		21,371	—
Units purchased	16,640	49,666		18,954		117,760	—
Units redeemed and transferred	12,500	29,757		(11,226	)	131,112	—
Units outstanding at December 31, 2008	47,418	87,352		19,602		270,243	—
Units purchased	96,305	70,327		69,180		490,610	3,368
Units redeemed and transferred	25,357	(14,241	)	(1,304	)	776	—
Units outstanding at December 31, 2009	169,080	143,438		87,478		761,629	3,368

294

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Huntington VA Mid Corp America Subaccount		Huntington  VA Mortgage Securities Subaccount		Huntington VA New Economy Subaccount		Huntington VA Real Strategies Subaccount	Huntington VA Rotating Markets Subaccount
Units outstanding at January 1, 2008	17,316		94,524		20,091		8,485	17,218
Units purchased	28,017		213,531		58,561		25,023	5,828
Units redeemed and transferred	(13,014	)	7,329		(24,658	)	10,318	(8,581	)
Units outstanding at December 31, 2008	32,319		315,384		53,994		43,826	14,465
Units purchased	164,166		296,201		93,656		163,060	41,770
Units redeemed and transferred	4,155		(85,642	)	26,259		47,312	37,248
Units outstanding at December 31, 2009	200,640		525,943		173,909		254,198	93,483

295

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

Years Ended December 31, 2009 and 2008, Except as Noted

3. Accumulation Units Outstanding

A summary of changes in equivalent accumulation units outstanding follows:

	Huntington  VA Situs Subaccount	Huntington VA Balanced  Allocation Subaccount(1)
Units outstanding at January 1, 2008	47,445	—
Units purchased	176,602	18,655
Units redeemed and transferred	68,690	8,710
Units outstanding at December 31, 2008	292,737	27,365
Units purchased	411,080	2,261,433
Units redeemed and transferred	27,315	745,414
Units outstanding at December 31, 2009	731,132	3,034,212

296

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights

The Mutual Fund Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.

Subaccount	Year Ended	Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica Asset Allocation - Growth VP
	12/31/2009	293,607,644	$	1.21	to	$	0.76	$	356,027,919	2.49	%	1.25	%	to	2.30	%	28.22	%	to	26.63	%
	12/31/2008	300,444,289		0.94	to		0.60		283,936,866	2.77		1.25		to	2.30		(40.38	)	to	(41.12	)
	12/31/2007	352,164,822		1.58	to		1.79		564,355,445	2.21		1.25		to	2.30		6.42		to	5.10
	12/31/2006	350,039,016		1.49	to		1.70		530,509,389	0.89		1.25		to	2.30		14.19		to	12.69
	12/31/2005	335,758,577		1.30	to		1.51		444,784,754	0.46		1.25		to	2.30		10.86		to	9.41
Transamerica Asset Allocation - Conservative VP
	12/31/2009	426,899,828		1.34	to		0.96		561,519,294	4.40		1.25		to	2.45		23.68		to	21.92
	12/31/2008	376,398,827		1.08	to		0.79		400,340,125	3.06		1.25		to	2.45		(22.16	)	to	(20.97	)
	12/31/2007	271,510,446		1.39	to		1.40		374,984,394	3.03		1.25		to	2.30		5.06		to	3.75
	12/31/2006	236,067,755		1.33	to		1.35		311,598,094	3.42		1.25		to	2.30		8.10		to	6.69
	12/31/2005	218,645,810		1.23	to		1.26		268,389,137	2.75		1.25		to	2.30		3.89		to	2.65
Transamerica Asset Allocation - Moderate VP
	12/31/2009	885,433,023		1.34	to		0.94		1,182,888,651	4.33		1.25		to	2.45		24.84		to	23.18
	12/31/2008	799,972,072		1.07	to		0.76		856,542,397	3.39		1.25		to	2.45		(26.88	)	to	(23.89	)
	12/31/2007	792,140,948		1.47	to		1.53		1,167,804,097	2.94		1.25		to	2.30		6.62		to	5.30
	12/31/2006	728,972,014		1.38	to		1.45		1,013,622,612	2.59		1.25		to	2.30		10.11		to	8.72
	12/31/2005	670,507,761		1.25	to		1.33		846,622,154	1.83		1.25		to	2.30		6.12		to	4.73
Transamerica Asset Allocation - Moderate Growth VP
	12/31/2009	1,268,179,930		1.29	to		0.89		1,671,991,913	3.32		1.25		to	2.45		26.58		to	24.81
	12/31/2008	1,119,487,288		1.02	to		0.71		1,168,981,435	2.97		1.25		to	2.45		(33.60	)	to	(28.72	)
	12/31/2007	1,127,588,611		1.54	to		1.66		1,772,642,396	2.31		1.25		to	2.30		6.47		to	5.13
	12/31/2006	1,016,439,937		1.45	to		1.58		1,499,266,700	1.60		1.25		to	2.30		12.43		to	10.99
	12/31/2005	804,905,480		1.29	to		1.42		1,051,692,231	1.14		1.25		to	2.30		8.56		to	7.25
Transamerica Equity VP
	12/31/2009	211,515,242		0.96	to		0.73		173,764,901	0.92		1.25		to	2.30		27.60		to	26.00
	12/31/2008	242,407,649		0.75	to		0.58		154,901,502	0.22		1.25		to	2.30		(46.68	)	to	(47.39	)
	12/31/2007	283,879,833		1.41	to		1.86		341,421,631	0.02		1.25		to	2.30		14.84		to	13.42
	12/31/2006	365,699,293		1.23	to		1.64		380,393,246	—		1.25		to	2.30		7.38		to	5.95
	12/31/2005	203,562,245		1.14	to		1.55		208,740,139	0.37		1.25		to	2.30		15.10		to	13.67
Transamerica American Century Large Company Value VP
	12/31/2009	19,739,127		0.94	to		0.70		18,845,183	2.46		1.25		to	2.30		18.59		to	17.22
	12/31/2008	21,786,950		0.79	to		0.60		17,514,574	2.26		1.25		to	2.30		(37.56	)	to	(38.47	)
	12/31/2007	28,503,957		1.27	to		1.56		36,812,406	0.43		1.25		to	2.30		(2.34	)	to	(3.56	)
	12/31/2006	38,007,317		1.30	to		1.61		50,322,260	2.56		1.25		to	2.30		18.21		to	16.77
	12/31/2005	36,765,658		1.10	to		1.38		41,212,190	0.70		1.25		to	2.30		2.86		to	1.50

297

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended	Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica MFS International Equity VP
	12/31/2009	61,489,383	$	1.10	to	$	0.84	$	70,065,045	2.76	%	1.25	%	to	2.30	%	31.05	%	to	29.26	%
	12/31/2008	68,562,354		0.84	to		0.65		59,550,150	5.08		1.25		to	2.30		(36.09	)	to	(37.00	)
	12/31/2007	85,687,522		1.31	to		1.96		117,265,990	0.91		1.25		to	2.30		7.80		to	6.41
	12/31/2006	97,843,578		1.22	to		1.84		123,798,123	1.37		1.25		to	2.30		21.55		to	20.16
	12/31/2005	98,604,682		1.00	to		1.53		102,552,219	0.76		1.25		to	2.30		11.47		to	9.90
Transamerica Science & Technology VP
	12/31/2009	27,170,080		1.00	to		0.88		23,157,459	—		1.25		to	2.30		55.82		to	54.34
	12/31/2008	25,245,300		0.64	to		0.57		13,508,045	—		1.25		to	2.30		(49.23	)	to	(50.03	)
	12/31/2007	30,164,795		1.26	to		1.73		32,037,608	—		1.25		to	2.30		31.11		to	29.51
	12/31/2006	29,072,853		0.76	to		1.34		23,502,630	—		1.25		to	2.30		(0.24	)	to	(1.50	)
	12/31/2005	37,690,637		0.76	to		1.36		30,405,263	0.40		1.25		to	2.30		0.80		to	(0.43	)
Transamerica Clarion Global Real Estate Securities VP
	12/31/2009	28,729,727		1.78	to		0.73		49,666,479	—		1.25		to	2.30		31.77		to	30.01
	12/31/2008	30,247,076		1.35	to		0.56		39,869,448	6.44		1.25		to	2.30		(43.09	)	to	(43.80	)
	12/31/2007	39,920,169		2.38	to		2.28		93,167,627	6.31		1.25		to	2.30		(7.86	)	to	(9.01	)
	12/31/2006	55,297,091		2.58	to		2.51		140,937,555	1.38		1.25		to	2.30		40.52		to	38.73
	12/31/2005	51,274,577		1.84	to		1.81		93,352,692	1.64		1.25		to	2.30		12.08		to	10.64
Transamerica Templeton Global VP
	12/31/2009	132,022,217		0.97	to		0.74		93,498,468	1.88		1.25		to	2.30		26.74		to	24.97
	12/31/2008	25,660,162		0.76	to		0.60		13,594,435	1.85		1.25		to	2.30		(44.37	)	to	(45.08	)
	12/31/2007	30,718,024		1.37	to		1.47		29,807,463	1.51		1.25		to	2.30		13.82		to	12.38
	12/31/2006	32,638,941		1.20	to		1.31		27,543,986	1.28		1.25		to	2.30		17.33		to	15.79
	12/31/2005	32,519,818		1.03	to		1.13		23,436,725	1.08		1.25		to	2.30		14.75		to	13.04
Transamerica Balanced VP
	12/31/2009	31,050,756		1.25	to		0.90		37,876,212	1.78		1.25		to	2.45		24.74		to	22.93
	12/31/2008	21,712,317		1.00	to		0.73		21,423,465	1.84		1.25		to	2.45		(33.24	)	to	(27.04	)
	12/31/2007	20,464,582		1.50	to		1.47		30,376,450	1.11		1.25		to	2.30		12.20		to	10.81
	12/31/2006	20,246,317		1.34	to		1.33		26,879,335	0.98		1.25		to	2.30		7.78		to	6.30
	12/31/2005	21,405,197		1.24	to		1.25		26,347,351	1.33		1.25		to	2.30		6.63		to	5.37
Transamerica Jennison Growth VP
	12/31/2009	28,037,314		0.92	to		0.89		25,367,528	0.15		1.25		to	2.30		39.26		to	37.53
	12/31/2008	24,292,309		0.66	to		0.65		15,596,912	0.10		1.25		to	2.30		(37.79	)	to	(38.53	)
	12/31/2007	27,500,516		1.02	to		1.53		28,486,491	0.06		1.25		to	2.30		10.13		to	8.76
	12/31/2006	34,860,247		0.93	to		1.40		32,663,281	—		1.25		to	2.30		0.71		to	(0.68	)
	12/31/2005	37,772,640		0.92	to		1.41		35,130,760	0.20		1.25		to	2.30		12.39		to	10.98

298

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended	Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica JPMorgan Enhanced Index VP
	12/31/2009	76,651,694	$	0.89	to	$	0.77	$	85,362,534	2.18	%	1.25	%	to	2.30	%	27.99	%	to	26.41	%
	12/31/2008	75,561,827		0.70	to		0.61		65,362,497	5.60		1.25		to	2.30		(38.13	)	to	(38.93	)
	12/31/2007	88,489,862		1.12	to		1.51		125,749,660	1.14		1.25		to	2.30		3.24		to	1.94
	12/31/2006	106,837,575		1.09	to		1.48		149,820,009	1.04		1.25		to	2.30		13.89		to	12.39
	12/31/2005	124,292,071		0.96	to		1.32		154,751,471	1.26		1.25		to	2.30		2.19		to	0.88
Transamerica Marsico Growth VP
	12/31/2009	36,041,188		0.87	to		0.78		30,968,098	0.81		1.25		to	2.30		25.07		to	23.49
	12/31/2008	41,267,965		0.69	to		0.63		27,984,529	0.76		1.25		to	2.30		(41.68	)	to	(42.46	)
	12/31/2007	45,618,795		1.19	to		1.66		53,285,791	0.02		1.25		to	2.30		18.91		to	17.42
	12/31/2006	46,068,948		1.00	to		1.41		45,341,130	0.11		1.25		to	2.30		4.06		to	2.80
	12/31/2005	50,013,350		0.96	to		1.37		47,297,952	0.07		1.25		to	2.30		7.25		to	5.78
Transamerica AEGON High Yield Bond VP
	12/31/2009	68,757,941		1.48	to		1.05		97,606,766	8.81		1.25		to	2.30		45.42		to	43.56
	12/31/2008	53,656,252		1.02	to		0.73		52,752,860	9.45		1.25		to	2.30		(26.13	)	to	(27.15	)
	12/31/2007	65,237,746		1.38	to		1.23		87,246,453	8.71		1.25		to	2.30		0.59		to	(0.57	)
	12/31/2006	81,322,999		1.37	to		1.24		108,605,358	9.68		1.25		to	2.30		9.58		to	8.14
	12/31/2005	95,510,477		1.25	to		1.15		116,644,101	7.79		1.25		to	2.30		0.56		to	(0.77	)
Transamerica Growth Opportunities VP
	12/31/2009	27,537,219		1.60	to		0.82		41,891,360	0.33		1.25		to	2.30		35.17		to	33.45
	12/31/2008	29,680,366		1.18	to		0.62		33,640,632	3.51		1.25		to	2.30		(41.64	)	to	(42.40	)
	12/31/2007	37,506,754		2.03	to		1.98		73,168,251	0.04		1.25		to	2.30		21.56		to	19.96
	12/31/2006	44,227,884		1.67	to		1.65		71,071,187	0.19		1.25		to	2.30		3.81		to	2.54
	12/31/2005	56,252,510		1.61	to		1.61		86,974,458	—		1.25		to	2.30		14.80		to	13.33
Transamerica BlackRock Large Cap Value VP
	12/31/2009	157,907,814		1.20	to		0.73		197,986,732	1.04		1.25		to	2.30		12.58		to	11.16
	12/31/2008	51,860,445		1.07	to		0.65		57,622,753	0.90		1.25		to	2.30		(34.71	)	to	(35.55	)
	12/31/2007	60,237,862		1.64	to		1.90		103,081,638	0.91		1.25		to	2.30		3.34		to	1.99
	12/31/2006	66,036,946		1.59	to		1.86		109,965,001	0.49		1.25		to	2.30		15.48		to	14.00
	12/31/2005	69,926,649		1.37	to		1.63		100,796,696	0.70		1.25		to	2.30		14.51		to	13.14
Transamerica PIMCO Total Return VP
	12/31/2009	296,380,822		1.39	to		1.03		394,940,745	6.56		1.25		to	2.45		14.60		to	12.98
	12/31/2008	196,989,757		1.21	to		0.91		232,447,318	5.94		1.25		to	2.45		(4.00	)	to	(8.63	)
	12/31/2007	179,268,797		1.26	to		1.10		221,824,032	2.58		1.25		to	2.30		7.60		to	6.35
	12/31/2006	184,045,568		1.17	to		1.04		212,343,313	3.40		1.25		to	2.30		2.93		to	1.57
	12/31/2005	194,397,804		1.14	to		1.02		218,340,807	1.80		1.25		to	2.30		1.07		to	(0.26	)

299

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended	Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica Focus VP
	12/31/2009	75,024,853	$	0.97	to	$	0.77	$	75,433,842	2.54	%	1.25	%	to	2.30	%	26.33	%	to	24.70	%
	12/31/2008	88,988,192		0.76	to		0.62		70,947,292	2.05		1.25		to	2.30		(37.15	)	to	(37.97	)
	12/31/2007	110,812,098		1.22	to		1.56		141,294,608	1.28		1.25		to	2.30		(0.22	)	to	(1.51	)
	12/31/2006	135,756,807		1.22	to		1.59		173,770,465	0.98		1.25		to	2.30		17.10		to	15.64
	12/31/2005	157,334,438		1.04	to		1.37		171,849,115	0.60		1.25		to	2.30		2.80		to	1.48
Transamerica Convertible Securities VP
	12/31/2009	25,453,128		1.34	to		0.86		33,340,808	3.75		1.25		to	2.30		29.68		to	28.22
	12/31/2008	26,236,091		1.04	to		0.67		26,654,279	5.70		1.25		to	2.30		(37.66	)	to	(38.42	)
	12/31/2007	32,362,294		1.66	to		1.61		52,997,756	2.02		1.25		to	2.30		17.16		to	15.62
	12/31/2006	32,032,000		1.42	to		1.39		45,008,172	1.66		1.25		to	2.30		9.53		to	8.17
	12/31/2005	26,751,938		1.29	to		1.28		34,402,029	2.12		1.25		to	2.30		2.60		to	1.22
Transamerica U.S. Government Securities VP
	12/31/2009	121,765,853		1.30	to		1.04		169,958,982	2.25		1.25		to	2.45		3.18		to	1.71
	12/31/2008	109,754,173		1.26	to		1.03		157,185,721	2.05		1.25		to	2.45		6.33		to	2.56
	12/31/2007	81,431,564		1.19	to		1.03		111,128,766	4.51		1.25		to	2.30		4.73		to	3.39
	12/31/2006	92,284,663		1.13	to		1.00		120,957,931	3.65		1.25		to	2.30		2.00		to	0.75
	12/31/2005	103,954,082		1.11	to		0.99		133,651,378	3.92		1.25		to	2.30		0.97		to	(0.31	)
Transamerica U.S. Government Securities VP - PAM Fund - SC
	12/31/2009	73,520,866		1.20	to		1.09		86,072,017	2.08		1.25		to	2.00		2.91		to	2.15
	12/31/2008	123,965,271		1.17	to		1.07		141,241,498	1.65		1.25		to	2.00		6.09		to	5.30
	12/31/2007	5,178,923		1.10	to		1.05		5,566,215	18.43		1.25		to	2.00		4.47		to	3.70
	12/31/2006	164		1.05	to		1.01		170	11.71		1.25		to	2.00		1.79		to	1.04
	12/31/2005	81,725		1.03	to		1.00		83,158	0.00		1.25		to	2.00		0.73		to	(0.01	)
Transamerica T. Rowe Price Equity Income VP
	12/31/2009	117,162,336		1.16	to		0.77		196,865,940	3.91		1.25		to	2.30		23.87		to	22.35
	12/31/2008	132,050,383		0.93	to		0.63		181,872,258	3.49		1.25		to	2.30		(36.76	)	to	(37.64	)
	12/31/2007	157,698,265		1.48	to		1.61		350,548,649	2.08		1.25		to	2.30		2.03		to	0.73
	12/31/2006	185,892,672		1.45	to		1.60		412,500,843	1.84		1.25		to	2.30		17.50		to	16.04
	12/31/2005	213,458,620		1.23	to		1.38		411,811,607	1.76		1.25		to	2.30		2.83		to	1.48
Transamerica T. Rowe Price Growth Stock VP
	12/31/2009	75,237,006		1.03	to		0.81		132,650,190	0.46		1.25		to	2.30		41.54		to	39.70
	12/31/2008	81,479,626		0.72	to		0.58		104,327,656	0.77		1.25		to	2.30		(43.09	)	to	(43.80	)
	12/31/2007	96,060,943		1.27	to		1.58		220,625,176	0.26		1.25		to	2.30		8.55		to	7.13
	12/31/2006	113,692,822		1.17	to		1.48		245,084,685	0.23		1.25		to	2.30		11.99		to	10.60
	12/31/2005	131,745,179		1.05	to		1.34		256,198,435	0.49		1.25		to	2.30		4.86		to	3.52

300

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica T. Rowe Price Small Cap VP
	12/31/2009		70,166,783	$	1.08	to	$	0.85	$	68,613,378	—	%	1.25	%	to	2.30	%	36.99	%	to	35.22	%
	12/31/2008		78,416,187		0.79	to		0.63		55,249,620	1.60		1.25		to	2.30		(37.04	)	to	(37.84	)
	12/31/2007		92,857,315		1.25	to		1.66		104,800,420	—		1.25		to	2.30		8.25		to	6.80
	12/31/2006		117,898,288		1.16	to		1.56		122,758,117	—		1.25		to	2.30		2.31		to	1.02
	12/31/2005		136,061,148		1.13	to		1.54		138,762,687	—		1.25		to	2.30		9.25		to	7.92
Transamerica Van Kampen Active International Allocation VP
	12/31/2009		74,224,167		1.20	to		0.78		112,404,738	0.15		1.25		to	2.30		24.33		to	22.85
	12/31/2008		82,531,196		0.97	to		0.64		101,691,108	5.13		1.25		to	2.30		(39.59	)	to	(40.42	)
	12/31/2007		101,148,678		1.60	to		2.23		207,322,239	2.74		1.25		to	2.30		14.17		to	12.67
	12/31/2006		105,527,585		1.40	to		1.98		192,418,681	0.32		1.25		to	2.30		21.99		to	20.42
	12/31/2005		105,164,346		1.15	to		1.64		157,833,741	3.43		1.25		to	2.30		12.39		to	11.06
Transamerica Van Kampen Large Cap Core VP
	12/31/2009		89,603,587		1.11	to		0.82		162,435,410	0.93		1.25		to	2.30		43.62		to	41.82
	12/31/2008		48,296,593		0.77	to		0.58		65,477,186	3.79		1.25		to	2.30		(42.80	)	to	(43.51	)
	12/31/2007		54,595,685		1.35	to		1.54		134,536,669	0.90		1.25		to	2.30		7.89		to	6.48
	12/31/2006		66,608,332		1.25	to		1.45		158,096,474	0.93		1.25		to	2.30		8.97		to	7.59
	12/31/2005		82,584,820		1.15	to		1.34		182,253,826	1.36		1.25		to	2.30		8.07		to	6.68
Transamerica Money Market VP
	12/31/2009		219,483,757		1.09	to		0.97		263,342,710	0.12		1.25		to	2.45		(1.10	)	to	(2.38	)
	12/31/2008		317,875,150		1.11	to		1.00		390,109,230	2.24		1.25		to	2.45		1.13		to	(0.38	)
	12/31/2007		166,726,912		1.09	to		1.02		205,999,246	4.90		1.25		to	2.30		3.73		to	2.40
	12/31/2006		131,502,869		1.06	to		1.00		159,021,596	4.74		1.25		to	2.30		3.44		to	2.13
	12/31/2005		107,894,952		1.02	to		0.98		126,217,648	2.86		1.25		to	2.30		0.86		to	0.33
Transamerica Van Kampen Mid-Cap Growth VP
	12/31/2009		37,342,558		0.94	to		0.89		33,153,233	—		1.25		to	2.30		58.58		to	56.52
	12/31/2008		36,398,819		0.59	to		0.57		20,184,740	2.04		1.25		to	2.30		(46.96	)	to	(47.65	)
	12/31/2007		42,948,574		1.00	to		1.66		45,031,573	—		1.25		to	2.30		21.01		to	19.48
	12/31/2006		47,582,402		0.82	to		1.39		41,298,876	—		1.25		to	2.30		8.55		to	7.13
	12/31/2005		58,624,425		0.76	to		1.30		46,812,432	0.09		1.25		to	2.30		6.23		to	4.91
Transamerica International Moderate Growth VP - SC
	12/31/2009		158,637,626		0.89	to		0.86		139,691,778	2.66		1.25		to	2.45		27.73		to	26.23
	12/31/2008		113,793,326		0.70	to		0.68		78,605,551	2.45		1.25		to	2.45		(37.11	)	to	(31.85	)
	12/31/2007		70,286,387		1.11	to		1.09		77,443,929	1.32		1.25		to	2.30		7.15		to	6.04
	12/31/2006	(1)	14,250,077		1.03	to		1.03		14,692,958	—		1.25		to	2.30		3.21		to	2.54

301

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica Small/Mid Cap Value VP
	12/31/2009		57,722,451	$	1.69	to	$	0.92	$	137,826,521	3.20	%	1.25	%	to	2.30	%	41.45	%	to	39.69	%
	12/31/2008	(1)	63,351,112		1.19	to		0.66		111,735,406	1.76		1.25		to	2.30		(41.60	)	to	(34.34	)
	12/31/2007		73,511,327		2.04	to		5.94		232,779,139	0.90		1.25		to	2.05		23.19		to	22.22
	12/31/2006		93,211,808		1.66	to		1.71		246,204,461	0.87		1.25		to	2.05		16.60		to	15.69
	12/31/2005		110,928,225		1.42	to		1.48		260,494,622	0.41		1.25		to	2.05		12.16		to	11.29
Transamerica Index 50 VP - SC
	12/31/2009		52,441,573		1.00	to		0.92		49,277,110	0.34		1.25	%	to	2.45		15.09		to	13.74
	12/31/2008	(1)	6,707,702		0.82	to		0.81		5,488,483	—		1.25		to	2.45		(18.08	)%	to	(18.73	)
Transamerica Index 75 VP - SC
	12/31/2009		108,495,352		1.00	to		0.86		95,152,421	0.45		1.25		to	2.45		21.66		to	20.24
	12/31/2008	(1)	20,462,446		0.72	to		0.72		14,772,045	—		1.25		to	2.45		(27.70	)	to	(28.27	)
Transamerica Value Balanced VP - SC
	12/31/2009		9,412,353		0.87	to		0.85		8,178,354	4.66		1.25		to	2.45		21.62		to	20.20
	12/31/2008	(1)	2,767,641		0.72	to		0.68		1,981,088	6.56		1.25		to	2.45		(28.34	)	to	(31.85	)
Transamerica Efficient Markets VP - SC
	12/31/2009	(1)	7,310,048		1.21	to		1.19		8,798,793	0.04		1.30		to	2.45		16.35		to	15.04
	12/31/2008	(1)	52,057		1.04	to		1.04		53,981	—		1.30		to	2.45		3.71		to	3.55
Transamerica BlackRock Global Allocation VP - SC
	12/31/2009	(1)	57,237,568		1.21	to		1.20		68,899,195	—		1.35		to	2.40		20.52		to	19.69
Transamerica BlackRock Tactical Allocation VP - SC
	12/31/2009	(1)	14,707,310		1.00	to		1.00		17,683,172	—		1.25		to	2.30		1.02		to	0.90
Transamerica ProFunds UltraBear VP - SC OAM
	12/31/2009	(1)	639,202		0.56	to		0.56		359,679	—		1.30		to	2.00		(43.69	)	to	(43.95	)
Transamerica Foxhall Global Growth VP - SC
	12/31/2009	(1)	829,307		1.01	to		1.01		834,815	—		1.30		to	2.30		1.79		to	1.68
Transamerica Foxhall Global Conservative VP - SC
	12/31/2009	(1)	743,244		0.98	to		0.98		731,147	—		1.30		to	2.45		(1.13	)	to	(1.26	)
Transamerica Foxhall Global Hard Asset VP - SC
	12/31/2009	(1)	1,452,049		0.99	to		0.98		1,431,731	—		1.30		to	2.30		(0.05	)	to	(0.16	)
Transamerica Foxhall Emerging Markets/Pacific Rim VP - SC
	12/31/2009	(1)	1,952,355		1.01	to		1.01		1,970,882	—		1.30		to	2.30		1.90		to	1.79
Transamerica Hanlon Growth VP - SC
	12/31/2009	(1)	592,237		1.02	to		1.02		604,947	—		1.30		to	2.30		2.53		to	2.41
Transamerica Hanlon Growth and Income VP - SC
	12/31/2009	(1)	389,413		1.02	to		1.02		398,229	—		1.30		to	2.30		2.55		to	2.43

302

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Transamerica Hanlon Balanced VP - SC
	12/31/2009	(1)	1,141,493	$	1.02	to	$	1.02	$	1,165,255	—	%	1.30	%	to	2.30	%	2.28	%	to	2.16	%
Transamerica Hanlon Managed Income VP - SC
	12/31/2009	(1)	9,549,230		1.00	to		1.00		9,585,273	—		1.30		to	2.30		0.40		to	0.28
Transamerica Index 35 VP - SC
	12/31/2009	(1)	206,947		1.00	to		1.00		206,617	—		1.25		to	2.45		(0.14	)	to	(0.28	)
Transamerica Index 100 VP - SC
	12/31/2009	(1)	290,786		1.02	to		1.02		297,837	—		1.25		to	2.30		2.45		to	2.33
Transamerica JPMorgan Mid Cap Value VP - SC
	12/31/2009	(1)	78,140		1.03	to		1.03		80,470	—		1.25		to	2.30		4.55		to	4.42
AIM V.I. Basic Value
	12/31/2009		28,936,665		0.88	to		0.67		25,112,242	1.27		1.25		to	2.30		45.92		to	44.42
	12/31/2008		29,192,375		0.60	to		0.47		17,407,911	0.45		1.25		to	2.30		(52.50	)	to	(52.99	)
	12/31/2007		37,303,273		1.27	to		1.57		46,936,446	0.31		1.25		to	2.30		0.11		to	(0.93	)
	12/31/2006		44,971,961		1.27	to		1.58		56,640,792	0.12		1.25		to	2.30		11.55		to	10.41
	12/31/2005		55,129,915		1.14	to		1.43		62,338,470	—		1.25		to	2.30		4.13		to	3.06
AIM V.I. Capital Appreciation
	12/31/2009		6,994,598		0.89	to		0.69		6,110,262	0.30		1.25		to	2.30		19.23		to	18.00
	12/31/2008		6,692,362		0.75	to		0.58		4,921,070	—		1.25		to	2.30		(43.34	)	to	(43.92	)
	12/31/2007		7,509,747		1.32	to		1.52		9,780,412	—		1.25		to	2.30		10.35		to	9.21
	12/31/2006		9,306,881		1.20	to		1.39		11,023,632	—		1.25		to	2.30		4.75		to	3.68
	12/31/2005		9,932,372		1.14	to		1.34		11,248,958	—		1.25		to	2.30		7.24		to	6.14
AllianceBernstein Growth & Income
	12/31/2009		45,688,754		0.88	to		0.69		39,961,523	3.55		1.25		to	2.30		18.86		to	17.64
	12/31/2008		53,322,418		0.74	to		0.59		39,258,756	1.78		1.25		to	2.30		(41.43	)	to	(42.03	)
	12/31/2007		63,800,491		1.26	to		1.59		80,455,929	1.21		1.25		to	2.30		3.56		to	2.49
	12/31/2006		77,291,684		1.22	to		1.56		94,343,570	1.14		1.25		to	2.30		15.54		to	14.36
	12/31/2005		91,501,581		1.05	to		1.36		96,891,787	1.30		1.25		to	2.30		3.31		to	2.25
AllianceBernstein Large Cap Growth
	12/31/2009		27,519,775		0.87	to		0.84		21,517,625	—		1.25		to	2.30		35.41		to	34.02
	12/31/2008		28,070,368		0.65	to		0.63		16,214,023	—		1.25		to	2.30		(40.57	)	to	(41.18	)
	12/31/2007		32,264,687		0.95	to		1.47		31,248,333	—		1.25		to	2.30		12.20		to	11.05
	12/31/2006		38,492,899		0.85	to		1.32		33,301,544	—		1.25		to	2.30		(1.86	)	to	(2.87	)
	12/31/2005		44,575,244		0.86	to		1.36		39,479,283	—		1.25		to	2.30		13.43		to	12.27
AllianceBernstein Balanced Wealth Strategy
	12/31/2009		8,104,630		1.24	to		1.23		10,047,749	0.90		1.50		to	2.65		22.61		to	21.24
	12/31/2008	(1)	154,287		1.01	to		1.01		156,332	—		1.50		to	2.65		1.33		to	1.17

303

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended	Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Janus Aspen-Enterprise
	12/31/2009	24,204,454	$	1.02	to	$	0.84	$	18,789,785	—	%	1.25	%	to	2.30	%	42.66	%	to	41.19	%
	12/31/2008	27,900,139		0.71	to		0.59		15,433,329	0.06		1.25		to	2.30		(44.55	)	to	(45.13	)
	12/31/2007	31,800,279		1.29	to		2.12		30,998,592	0.63		1.25		to	2.30		20.23		to	18.99
	12/31/2006	26,432,690		1.07	to		1.79		21,816,991	—		1.25		to	2.30		11.91		to	10.76
	12/31/2005	31,261,264		0.96	to		1.61		23,844,610	—		1.25		to	2.30		10.65		to	9.52
Janus Aspen Perkins-Mid Cap Value
	12/31/2009	2,351,020		1.36	to		1.31		3,137,832	0.34		1.25	%	to	1.65		31.28		to	30.76
	12/31/2008	2,704,031		1.04	to		1.00		2,755,067	0.38		1.25		to	1.65		(28.79	)	to	(29.07	)
	12/31/2007	3,455,868		1.45	to		1.41		4,953,039	4.50		1.25		to	1.65		5.84		to	5.42
	12/31/2006	4,025,469		1.37	to		1.34		5,460,464	0.99		1.25		to	1.65		13.65		to	13.20
	12/31/2005	4,844,801		1.21	to		1.18		5,793,046	0.64		1.25		to	1.65		8.65		to	8.22
Janus Aspen-Worldwide
	12/31/2009	51,760,069		0.75	to		0.73		35,455,082	1.32		1.25		to	2.30		35.71		to	34.31
	12/31/2008	45,032,767		0.55	to		0.54		22,746,673	0.96		1.25		to	2.30		(45.49	)	to	(46.06	)
	12/31/2007	53,084,461		1.02	to		1.60		49,676,967	0.58		1.25		to	2.30		8.01		to	6.89
	12/31/2006	53,055,483		0.94	to		1.50		46,129,552	1.63		1.25		to	2.30		16.48		to	15.29
	12/31/2005	55,473,225		0.81	to		1.30		41,848,549	1.20		1.25		to	2.30		4.27		to	3.20
MFS New Discovery
	12/31/2009	21,450,984		1.16	to		0.92		24,479,755	—		1.25		to	2.30		60.91		to	59.26
	12/31/2008	15,212,879		0.72	to		0.58		10,829,606	—		1.25		to	2.30		(40.27	)	to	(40.89	)
	12/31/2007	18,806,193		1.21	to		1.49		22,480,559	—		1.25		to	2.30		0.98		to	(0.06	)
	12/31/2006	23,349,833		1.20	to		1.49		27,690,404	—		1.25		to	2.30		11.54		to	10.40
	12/31/2005	29,429,225		1.07	to		1.35		31,329,126	—		1.25		to	2.30		3.74		to	2.68
MFS Total Return
	12/31/2009	54,883,691		1.18	to		0.88		63,388,306	3.38		1.25		to	2.30		16.27		to	15.08
	12/31/2008	56,745,490		1.02	to		0.76		56,591,135	2.93		1.25		to	2.30		(23.28	)	to	(24.07	)
	12/31/2007	65,867,193		1.32	to		1.35		86,022,424	2.38		1.25		to	2.30		2.65		to	1.59
	12/31/2006	74,360,412		1.29	to		1.33		94,872,229	2.12		1.25		to	2.30		10.25		to	9.12
	12/31/2005	83,444,209		1.17	to		1.22		96,651,648	1.83		1.25		to	2.30		1.33		to	0.30
Fidelity-VIP Contrafund®
	12/31/2009	145,193,887		1.35	to		0.79		174,641,929	1.18		1.25		to	2.30		33.80		to	32.42
	12/31/2008	156,031,898		1.01	to		0.60		140,544,144	0.75		1.25		to	2.30		(43.40	)	to	(43.99	)
	12/31/2007	171,085,042		1.79	to		1.98		273,945,002	0.73		1.25		to	2.30		15.85		to	14.65
	12/31/2006	186,851,007		1.54	to		1.72		258,933,649	0.99		1.25		to	2.30		10.06		to	8.93
	12/31/2005	191,272,353		1.40	to		1.58		242,317,803	0.12		1.25		to	2.30		15.21		to	14.03

304

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Fidelity-VIP Equity-Income
	12/31/2009		45,541,010	$	0.97	to	$	0.69	$	45,516,351	2.05	%	1.25	%	to	2.30	%	28.28	%	to	26.96	%
	12/31/2008		52,994,411		0.76	to		0.55		41,416,391	2.09		1.25		to	2.30		(43.52	)	to	(44.11	)
	12/31/2007		64,595,023		1.34	to		1.63		89,649,119	1.51		1.25		to	2.30		0.01		to	(1.02	)
	12/31/2006		77,433,512		1.34	to		1.65		107,807,608	3.03		1.25		to	2.30		18.45		to	17.24
	12/31/2005		77,156,270		1.13	to		1.40		90,717,576	1.47		1.25		to	2.30		4.27		to	3.20
Fidelity-VIP Growth
	12/31/2009		32,483,226		0.78	to		0.70		24,205,981	0.20		1.25		to	2.30		26.38		to	25.09
	12/31/2008		38,408,158		0.62	to		0.56		22,538,053	0.55		1.25		to	2.30		(47.96	)	to	(48.50	)
	12/31/2007		43,691,952		1.09	to		1.66		49,196,249	0.36		1.25		to	2.30		25.09		to	23.80
	12/31/2006		38,679,255		0.87	to		1.34		34,871,994	0.17		1.25		to	2.30		5.26		to	4.18
	12/31/2005		45,726,579		0.83	to		1.29		39,429,887	0.30		1.25		to	2.30		4.20		to	3.14
Fidelity-VIP Growth Opportunities
	12/31/2009		2,509,398		0.82	to		0.62		1,911,152	0.23		1.25	%	to	1.65		43.67		to	43.10
	12/31/2008		2,952,425		0.57	to		0.43		1,565,128	0.12		1.25		to	1.65		(55.69	)	to	(55.87	)
	12/31/2007		3,556,225		1.28	to		0.98		4,275,368	—		1.25		to	1.65		21.38		to	20.90
	12/31/2006		4,382,176		1.06	to		0.81		4,366,730	0.49		1.25		to	1.65		3.82		to	3.42
	12/31/2005		5,285,568		1.02	to		0.78		5,069,255	0.68		1.25		to	1.65		7.34		to	6.92
Fidelity-VIP Mid Cap
	12/31/2009		106,128,511		1.87	to		0.83		192,489,020	0.45		1.25		to	2.30		38.03		to	36.61
	12/31/2008		123,204,417		1.35	to		0.61		163,375,898	0.24		1.25		to	2.30		(40.36	)	to	(40.97	)
	12/31/2007		150,490,168		2.27	to		2.41		336,300,424	0.49		1.25		to	2.30		13.91		to	12.73
	12/31/2006		178,739,314		1.99	to		2.14		352,519,842	0.18		1.25		to	2.30		11.02		to	9.88
	12/31/2005		208,812,409		1.79	to		1.95		371,650,060	—		1.25		to	2.30		16.56		to	15.37
Fidelity-VIP Value Strategies
	12/31/2009		45,271,627		1.18	to		0.72		52,231,295	0.36		1.25		to	2.30		55.21		to	53.62
	12/31/2008		49,976,391		0.76	to		0.47		37,313,777	0.49		1.25		to	2.30		(51.89	)	to	(52.39	)
	12/31/2007		62,273,935		1.58	to		1.91		97,289,208	0.58		1.25		to	2.30		4.13		to	3.06
	12/31/2006		70,643,721		1.52	to		1.86		106,323,014	0.36		1.25		to	2.30		14.58		to	13.41
	12/31/2005		79,580,913		1.32	to		1.64		104,685,364	—		1.25		to	2.30		1.17		to	0.13
Fidelity-VIP Balanced
	12/31/2009		19,434,180		0.91	to		0.89		17,650,080	2.45		1.25		to	2.45		36.62		to	35.01
	12/31/2008	(1)	5,787,687		0.67	to		0.66		3,855,651	4.07		1.25		to	2.45		(33.33	)	to	(33.85	)
Franklin Income Securities
	12/31/2009		32,281,661		0.90	to		0.88		28,997,286	7.29		1.25		to	2.30		33.92		to	32.55
	12/31/2008		15,807,606		0.67	to		0.66		10,626,894	5.50		1.25		to	2.30		(30.53	)	to	(31.24	)
	12/31/2007	(1)	6,760,864		0.97	to		1.00		6,556,928	0.26		1.25		to	2.30		(2.86	)	to	(3.53	)

305

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Mutual Shares Securities
	12/31/2009		13,129,790	$	0.75	to	$	0.73	$	9,746,295	2.01	%	1.25	%	to	2.30	%	24.49	%	to	23.22	%
	12/31/2008		9,560,602		0.60	to		0.59		5,714,459	3.08		1.25		to	2.30		(37.89	)	to	(38.53	)
	12/31/2007	(1)	7,163,394		0.97	to		1.01		6,905,863	0.01		1.25		to	2.30		(3.46	)	to	(4.12	)
Templeton Foreign Securities
	12/31/2009		36,456,694		0.85	to		0.83		30,890,820	2.65		1.25		to	2.30		35.35		to	33.96
	12/31/2008		20,514,605		0.63	to		0.62		12,872,321	2.57		1.25		to	2.30		(41.12	)	to	(41.72	)
	12/31/2007	(1)	14,131,536		1.07	to		1.09		15,096,177	0.18		1.25		to	2.30		7.01		to	6.28
Franklin Templeton Founding Funds Allocation
	12/31/2009		20,157,488		1.27	to		1.25		25,548,689	5.15		1.45		to	2.60		28.21		to	26.77
	12/31/2008	(1)	497,588		0.99	to		0.99		492,793	3.36		1.45		to	2.60		(0.94	)	to	(1.10	)
American Funds – Asset Allocation Fund
	12/31/2009	(1)	737,632		1.01	to		1.01		743,695	0.15		1.60		to	2.75		1.88		to	1.75
American Funds – Bond Fund
	12/31/2009	(1)	504,436		0.99	to		0.99		501,383	1.15		1.60		to	2.75		(0.68	)	to	(0.81	)
American Funds – Growth Fund
	12/31/2009	(1)	220,128		1.00	to		1.00		220,838	0.36		1.60		to	2.60		1.70		to	1.59
American Funds – Growth–Income Fund
	12/31/2009	(1)	79,507		1.01	to		1.01		80,190	2.23		1.60		to	2.60		2.21		to	2.10
American Funds – International Fund
	12/31/2009	(1)	79,326		0.98	to		0.98		77,792	1.26		1.60		to	2.60		(0.22	)	to	(0.33	)
GE Investments Total Return Fund
	12/31/2009	(1)	157,681		1.00	to		1.00		158,292	1.77		1.50		to	2.65		1.54		to	1.41
MTB Managed Allocation Fund-Moderate Growth II
	12/31/2009		690,435		1.08	to		1.02		741,634	0.01		1.30	%	to	2.30		24.01		to	22.80
	12/31/2008		877,931		0.87	to		0.83		759,948	1.13		1.30		to	2.30		(29.99	)	to	(30.68	)
	12/31/2007		1,313,746		1.24	to		1.20		1,624,021	2.04		1.30		to	2.30		5.51		to	4.47
	12/31/2006		1,399,049		1.17	to		1.15		1,640,423	2.48		1.30		to	2.30		9.01		to	7.94
	12/31/2005		1,548,498		1.08	to		1.06		1,666,970	1.60		1.30		to	2.30		7.76		to	6.15
BlackRock Basic Value V.I.
	12/31/2009		21,465,550		1.14	to		1.33		30,704,585	2.07		1.25		to	2.30		29.52		to	28.19
	12/31/2008		24,774,917		0.88	to		1.04		27,222,322	2.15		1.25		to	2.30		(37.55	)	to	(38.20	)
	12/31/2007		31,124,324		1.41	to		1.67		54,959,003	1.35		1.25		to	2.30		0.56		to	(0.48	)
	12/31/2006		39,810,741		1.40	to		1.68		70,276,190	1.53		1.25		to	2.30		20.36		to	19.13
	12/31/2005		49,192,956		1.16	to		1.41		71,753,858	1.31		1.25		to	2.30		1.67		to	0.63

306

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
BlackRock High Income V.I.
	12/31/2009		5,838,853	$	1.58	to	$	1.38	$	9,048,158	9.33	%	1.25	%	to	2.30	%	54.69	%	to	53.10	%
	12/31/2008		6,376,867		1.02	to		0.90		6,401,759	9.40		1.25		to	2.30		(30.05	)	to	(30.77	)
	12/31/2007		7,327,648		1.46	to		1.30		10,522,866	7.81		1.25		to	2.30		1.15		to	0.10
	12/31/2006		9,530,758		1.44	to		1.30		13,554,917	7.45		1.25		to	2.30		8.11		to	7.00
	12/31/2005		11,068,087		1.33	to		1.22		14,569,494	8.81		1.25		to	2.30		0.29		to	(0.73	)
BlackRock Global Allocation V.I.
	12/31/2009		17,739,388		2.04	to		2.16		27,612,347	1.90		1.25		to	2.30		19.71		to	18.48
	12/31/2008		18,420,989		1.71	to		1.82		24,025,516	2.48		1.25		to	2.30		(20.42	)	to	(21.24	)
	12/31/2007		13,390,022		2.14	to		2.31		21,415,424	3.01		1.25		to	2.30		15.56		to	14.37
	12/31/2006		12,154,479		1.86	to		2.02		16,596,816	2.96		1.25		to	2.30		15.10		to	13.92
	12/31/2005		10,624,951		1.61	to		1.78		12,746,876	2.85		1.25		to	2.30		9.16		to	8.04
Huntington VA Dividend Capture
	12/31/2009		169,080		0.83	to		0.81		140,072	—		1.30		to	2.30		23.50		to	22.29
	12/31/2008		47,418		0.67	to		0.66		31,769	12.63		1.30		to	2.30		(29.01	)	to	(29.71	)
	12/31/2007	(1)	18,278		0.95	to		0.94		17,317	—		1.30		to	2.30		(5.23	)	to	(5.51	)
Huntington VA Growth
	12/31/2009		143,438		0.76	to		0.74		108,693	—		1.30		to	2.30		14.47		to	13.35
	12/31/2008		87,352		0.67	to		0.66		57,838	1.51		1.30		to	2.30		(38.71	)	to	(39.31	)
	12/31/2007	(1)	7,929		1.09	to		1.08		8,596	—		1.30		to	2.30		8.60		to	8.28
Huntington VA Income Equity
	12/31/2009		87,478		0.72	to		0.70		63,043	—		1.30		to	2.30		20.05		to	18.88
	12/31/2008		19,602		0.60	to		0.59		11,767	6.99		1.30		to	2.30		(38.64	)	to	(39.24	)
	12/31/2007	(1)	11,874		0.98	to		0.98		11,616	—		1.30		to	2.30		(2.17	)	to	(2.47	)
Huntington VA International Equity
	12/31/2009		761,629		0.83	to		0.81		633,019	0.05		1.30		to	2.30		31.76		to	30.47
	12/31/2008		270,243		0.63	to		0.62		170,367	4.28		1.30		to	2.30		(41.32	)	to	(41.90	)
	12/31/2007	(1)	21,371		1.08	to		1.07		23,012	—		1.30		to	2.30		7.81		to	7.48
Huntington VA Macro 100
	12/31/2009		3,368		0.75	to		0.73		2,521	—		1.30		to	2.30		20.30		to	19.13
	12/31/2008		—		0.62	to		0.61		—	—		1.30		to	2.30		(34.76	)	to	(35.40	)
	12/31/2007	(1)	—		0.95	to		0.95		—	—		1.30		to	2.30		(4.65	)	to	(4.94	)
Huntington VA Mid Corp America
	12/31/2009		200,640		0.82	to		0.80		163,727	—		1.30		to	2.30		32.51		to	31.21
	12/31/2008		32,319		0.62	to		0.61		19,905	1.41		1.30		to	2.30		(39.62	)	to	(40.22	)
	12/31/2007	(1)	17,316		1.02	to		1.02		17,673	—		1.30		to	2.30		2.07		to	1.76

307

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

Subaccount	Year Ended		Units	Unit FairValue Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*		Expense Ratio** Lowest to Highest					Total Return*** Corresponding to Lowest to Highest Expense Ratio
Huntington VA Mortgage Securities
	12/31/2009		525,943	$	1.06	to	$	1.04	$	556,724	—	%	1.30	%	to	2.30	%	4.11	%	to	3.09	%
	12/31/2008		315,384		1.02	to		1.01		320,353	9.37		1.30		to	2.30		0.83		to	(0.15	)
	12/31/2007	(1)	94,524		1.01	to		1.01		95,464	—		1.30		to	2.30		1.03		to	0.73
Huntington VA New Economy
	12/31/2009		173,909		0.66	to		0.65		114,689	—		1.30	%	to	2.30		32.92		to	31.62
	12/31/2008		53,994		0.50	to		0.49		26,859	1.18		1.30		to	2.30		(53.26	)	to	(53.72	)
	12/31/2007	(1)	20,091		1.07	to		1.06		21,397	—		1.30		to	2.30		6.50		to	6.18
Huntington VA Real Strategies
	12/31/2009		254,198		0.77	to		0.76		195,817	—		1.30		to	2.30		33.01		to	31.71
	12/31/2008		43,826		0.58	to		0.57		25,378	2.15		1.30		to	2.30		(49.66	)	to	(50.15	)
	12/31/2007	(1)	8,485		1.15	to		1.15		9,793	—		1.30		to	2.30		15.47		to	15.12
Huntington VA Rotating Markets
	12/31/2009		93,483		0.79	to		0.77		73,042	—		1.30		to	2.30		31.66		to	30.38
	12/31/2008		14,465		0.60	to		0.59		8,632	2.59		1.30		to	2.30		(42.81	)	to	(43.37	)
	12/31/2007	(1)	17,218		1.04	to		1.04		17,973	—		1.30		to	2.30		4.39		to	4.08
Huntington VA Situs
	12/31/2009		731,132		0.77	to		0.75		559,420	—		1.30		to	2.30		31.24		to	29.96
	12/31/2008		292,737		0.58	to		0.58		170,683	0.36		1.30		to	2.30		(41.99	)	to	(42.56	)
	12/31/2007	(1)	47,445		1.01	to		1.00		47,768	0.88		1.30		to	2.30		0.72		to	0.41
Huntington VA Balanced Allocation
	12/31/2009		3,034,212		1.19	to		1.18		3,608,610	0.23		1.30		to	2.45		16.28		to	14.98
	12/31/2008	(1)	27,365		1.02	to		1.02		28,018	0.21		1.30		to	2.45		2.42		to	2.25

* These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying Series Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying Series Fund in which the subaccounts invest. These ratios are annualized for periods less than one year.

** These ratios represent the annualized contract expenses of the Mutual Fund Account, consisting primarily of mortality and expense charges. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Series Fund are excluded. These charges range from .25% to .85% of the average contract owner’s account value depending on the options selected. Refer to the product’s prospectus for specific details. Expense ratios for periods of less than one year have been annualized.

*** The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. These amounts represent the total return for the period indicated, including changes in the value of the underlying Series Fund, and reflect deductions for all items included in the expense ratio. Total returns reflect a full twelve month period except for those subaccounts indicated in the Organization and Summary of Significant Accounting Policies footnote and new expense ratios as follows:

Expense Ratio	Inception Date
2.35%	May 1, 2008
2.45%	January 21, 2008
1.95%	January 21, 2008
1.25%	May 1, 2007

308

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

4. Financial Highlights (continued)

There are subaccounts that have total return ranges outside of the range indicated above. Following is the list of the subaccounts and their corresponding lowest total return and highest total return.

Subaccount	2009 Total Return Range
Transamerica Science & Technology VP	54.34% to 55.86%
Transamerica BlackRock Large Cap Value VP	11.16% to 23.06%
Transamerica PIMCO Total Return VP	10.83% to 14.60%
Transamerica Index 50 VP - SC	0.39% to 15.09%
Transamerica Index 75 VP - SC	1.01% to 21.66%
Transamerica Efficient Markets VP - SC	0.48% to 16.35%
Transamerica BlackRock Tactical Allocation VP - SC	0.90% to 20.85%

Subaccount	2008 Total Return Range
Transamerica Asset Allocation - Conservative VP	(23.18)% to (2.03)%
Transamerica Asset Allocation - Moderate VP	(27.86)% to (1.12)%
Transamerica Asset Allocation - Moderate Growth VP	(34.44)% to (3.88)%
Transamerica Small/Mid Cap Value VP	(42.06)% to (18.11)%
Transamerica Balanced VP	(34.10)% to (6.98)%
Transamerica International Moderate Growth VP - SC	(37.75)% to (31.54)%

309

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

5. Administrative, Mortality, and Expense Risk Charge

Administrative charges include an annual charge of the lesser of 2% of the policy value or $35 per contract, which will commence on the first policy anniversary of each contract owner’s account. For policies issued on or after May 1, 1995, this charge is waived if the sum of the premium payments less the sum of all partial withdrawals equals or exceeds $50,000 on the policy anniversary. Charges for administrative fees to the variable annuity contracts are an expense of the Mutual Fund Account. Transamerica Life also deducts a daily charge equal to an annual rate of 0.15% of the contract owner’s account for administrative expenses. For certain policies sold on or after May 1, 1997 during the first seven policy years, Transamerica Life deducts a daily distribution finance charge equal to an effective rate of 0.15% of the contract owner’s account.

An annual charge is deducted from the unit values of the subaccounts of the Mutual Fund Account for Transamerica Life’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the account and ranges from 1.10% to 2.30%, depending on the death benefit selected. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees:

Subaccount	Additional Fund Facilitation Fee Assessed
AllianceBernstein Balanced Wealth Strategy	0.20	%
Franklin Templeton Founding Funds Allocation	0.15	%
American Funds – Asset Allocation Fund	0.30	%
American Funds – Bond Fund	0.30	%
American Funds – Growth Fund	0.30	%
American Funds – Growth–Income Fund	0.30	%
American Funds – International Fund	0.30	%
GE Investments Total Return Fund	0.20	%

6. Income Taxes

Operations of the Mutual Fund Account form a part of Transamerica Life, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Mutual Fund Account are accounted for separately from other operations of Transamerica Life for purposes of federal income taxation. The Mutual Fund Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from Transamerica Life. Under existing federal income tax laws, the income of the Mutual Fund Account is not taxable to Transamerica Life, as long as earnings are credited under the variable annuity contracts.

7. Dividend Distributions

Dividends are not declared by the Mutual Fund Account, since the increase in the value of the underlying investment in the Series Funds is reflected daily in the accumulation unit price used to calculate the equity value within the Mutual Fund Account. Consequently, a dividend distribution by the underlying Series Funds does not change either the accumulation unit price or equity values within the Mutual Fund Account.

310

Transamerica Life Insurance Company Separate

Account VA B

Notes to Financial Statements

December 31, 2009

8. Fair Value Measurements and Fair Value Hierarchy

ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Company has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded at fair value on the Statement of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

b) Quoted prices for identical or similar assets or liabilities in non-active markets

c) Inputs other than quoted market prices that are observable

d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.

All investments in Mutual Funds included in the Statement of Assets and Liabilities are stated at fair value and are based upon daily unadjusted quoted prices, therefore are considered Level 1.

311

PART C

OTHER INFORMATION

Item 24.    Financial Statements and Exhibits

	(a)  Financial Statements
	All required financial statements are included in Part B of this Registration Statement.
	(b)  Exhibits:
(1)	(a)		Resolution of the Board of Directors of PFL Life Insurance Company authorizing establishment of the Separate Account. Note 1.
	(b)		Authorization Changing Name of the Separate Account. Note 11.
(2)			Not Applicable.
(3)	(a)		Principal Underwriting Agreement by and between PFL Life Insurance Company, on its own behalf and on the behalf of the Separate Account, and AEGON USA Securities, Inc. Note 6.
	(a)	(1)	Principal Underwriting Agreement by and between PFL Life Insurance Company on its own behalf and on the behalf of the Separate Account and AFSG Securities Corporation. Note 13.
	(a)	(2)	Termination of Principal Underwriting Agreement by and between AEGON USA Securities, Inc., formerly known as, MidAmerica Management Corporation, and PFL Life Insurance Company on its own behalf and on the behalf of PFL Endeavor Variable Annuity Account. Note 15.
	(a)	(3)	Form of Amended and Reinstated Principal Underwriting Agreement by and between AFSG Securities Corporation and Transamerica Life Insurance Company on its behalf and on behalf of the separate investment accounts. Note 30.
	(a)	(4)	Amendment No. 8 and Novation to Amended and Restated Principal Underwriting Agreement. Note 42.
	(a)	(5)	Amendment No. 10 to Amended and Restated Principal Underwriting Agreement. Note 47.
	(b)		Form of Broker/Dealer Supervision and Sales Agreement by and between AFSG Securities Corporation, and the Broker/Dealer. Note 13.
	(b)	(1)	Form of Life Insurance Company Product Sales Agreement (TCI) Note 44.
(4)	(a)		Form of Policy for the Endeavor Platinum Variable Annuity. Note 7.
	(b)		Amended pages to Form of Policy for Endeavor Platinum Variable Annuity. Note 8.
	(c)		Form of Policy Endorsement (Death Benefits). Note 10.
	(d)		Form of Policy for the Endeavor Platinum Variable Annuity. Note 12.
	(e)		Form of Policy Endorsement (Nursing Care). Note 12.
	(f)		Form of Policy for the Endeavor Platinum Variable Annuity. Note 13.
	(g)		Form of Policy Endorsement (New Separate Accounts and Annuity Commencement Date). Note 13.
	(h)		Form of Policy Rider (GMIB). Note 15.
	(i)		Form of Policy Rider (Additional Death Distribution). Note 24.
	(j)		Form of Policy Rider (Managed Annuity Program). Note 26.
	(k)		Form of Policy Rider (MAP II). Note 31.
	(l)		Form of Policy Rider (GPS). Note 37.
	(m)		Form of Policy Rider (5 For life). Note 37.
	(n)		Form of Policy Rider (ADD+). Note 37.
	(o)		Form of Policy Rider (New GMWB). Note 39.
	(p)		Form of Policy Rider (5 for Life - Growth - without Death Benefit). Note 40.
	(q)		Form of Policy Rider (5 for Life - Growth - with Death Benefit). Note 40.
	(r)		Form of Rider (Income Select for Life). Note 41.
	(s)		Form of Rider (Double Enhanced). Note 43.
	(t)		Form of Rider (Retirement Income Choice). Note 43.
	(u)		Form of Endorsement (Fund Facilitation Fee). Note 46.
	(v)		Form of Policy Rider (Retirement Income Choice - Double Withdrawal Base Benefit). Note. 46.
	(w)		Form of Policy Rider (Retirement Income Choice 1.2). Note 49.
	(x)		Form of Policy Rider (Retirement Income Choice 1.4). Note 50.
	(y)		Form of Policy Rider (Income Link). Note 53.
(5)	(a)		Form of Application for the Endeavor Platinum Variable Annuity. Note 12.
	(b)		Form of Application for the Endeavor Platinum Variable Annuity. Note 13.
	(c)		Form of Application for the Endeavor Platinum Variable Annuity. Note 15.
	(d)		Form of Application for the Transamerica Freedom Variable Annuity (formerly Endeavor Platinum Variable Annuity) Note 24.
	(e)		Form of Application for Transamerica Freedom. Note 32.
	(f)		Form of Application. Note 33
	(g)		Form of Application. Note 50.
(6)	(a)		Articles of Incorporation of PFL Life Insurance Company. Note 2.
	(b)		ByLaws of PFL Life Insurance Company. Note 2.
(7)			Reinsurance Agreement Note 36.
	(a)		Reinsurance agreement between Transamerica Life Insurance & Annuity Company and Swiss RE Life & Health America Inc. dated January 2, 1998. Note 49.
	(b)		Reinsurance agreement between Transamerica Occidental Life Insurance Company and North American Reassurance Company dated July 1, 1994. Note 49.
	(c)		Reinsurance Agreement No. FUV-1 between Transamerica Life Insurance Company and Union Hamilton Reinsurance Limited dated April 1, 2001. Note 49.
	(c)	1	Reinsurance agreement Amendment No. 1 to agreement FUV-1 between Transamerica Life Insurance Company and Union Hamilton Reinsurance Limited dated April 1, 2001. Note 49.
	(d)		Reinsurance Agreement No. FUV-011 between Transamerica Life Insurance Company and Scottish Annuity & Life International Insurance Company (Bermuda) Limited initial dated April 1, 2001, Amended and Restated - May 1, 2007. Note 49.
	(e)		Reinsurance Agreement between Transamerica Life Insurance Company and Transamerica International RE (Bermuda) LTD dated December 31, 2008. Note 49.
	(f)		Reinsurance Agreement between American United Life Insurance Company and Transamerica Life Insurance Company dated July 1, 2007. Note 49.
	(g)		Reinsurance Agreement between Union Hamilton Reinsurance Ltd. And Scottish Annuity & Life International Insurance Company (Bermuda) Ltd. And Transamerica Life Insurance Company dated June 30, 2008. Note 52.
(8)	(a)		Participation Agreement by and between PFL Life Insurance Company and Endeavor Series Trust.

C-1

			Note 3.
	(b)		Participation Agreement by and between PFL Life Insurance Company and the WRL Growth Portfolio of WRL Series Fund, Inc. Note 4.
(8)	(b)	(1)	Amendment No. 12 to Participation Agreement among WRL Series Fund, Inc., PFL Life Insurance Company, AUSA Life Insurance Company, Inc., and Peoples Benefit Life Insurance Company. Note 17.
(8)	(b)	(2)	Amendment No. 15 to Participation Agreement among WRL Series Fund, Inc., PFL Life Insurance Company, AUSA Life Insurance Company, Inc., and Peoples Benefit Life Insurance Company. Note 22.
	(b)	(3)	Amendment No. 17 to Participation Agreement among WRL Series Fund, Inc., Transamerica Life Insurance Company (formerly PFL Life Insurance Company), AUSA Life Insurance Company, Inc., Peoples Benefit Life Insurance Company and Transamerica Occidental Life Insurance Company. Note 24.
	(b)	(4)	Amendment No. 20 to Participation Agreement among AEGON/Transamerica Series Fund, Inc., Transamerica Life Insurance Company, AUSA Life Insurance Company, Inc., Peoples Benefit Life Insurance Company, Transamerica Occidental Life Insurance Company and Transamerica Life Insurance and Annuity Company. Note 34.
(8)	(b)	(5)	Amendment No. 31 to Participation Agreement (AEGON/Transamerica). Note 36.
(8)	(b)	(6)	Amendment No. 32 to Participation Agreement (AEGON/Transamerica). Note 37.
	(b)	(7)	Amendment No. 36 to Participation Agreement (Transamerica Series Trust). Note 45.
	(b)	(8)	Amendment No. 38 to Participation Agreement (TST). Note 47.
	(b)	(9)	Amendment No. 40 to Participation Agreement (TST). Note 49.
	(b)	(10)	Amendment No. 41 to Participation Agreement (TST). Note 51.
	(b)	(11)	Amendment No. 42 to Participation Agreement (TST). Note 53.
	(c)		Administrative Services Agreement by and between PFL Life Insurance Company and State Street Bank and Trust Company (assigned to Vantage Computer Systems, Inc.). Note 3.
	(d)		Amendment and Assignment of Administrative Services Agreement. Note 4.
	(e)		Second Amendment to Administrative Services Agreement. Note 5.
	(f)		Amendment to Participation Agreement by and between PFL Life Insurance Company and Endeavor Series Trust. Note 12.
(8)	(f)	(1)	Amendment No. 6 to Participation Agreement by and between PFL Life Insurance Company, Endeavor Management Co. and Endeavor Series Trust. Note 17.
(8)	(f)	(2)	Amendment to Schedule A of the Participation Agreement by and between PFL Life Insurance Company and Endeavour Series Trust. Note 22.
	(f)	(3)	Form of Termination of Participation Agreement among Transamerica Life Insurance Company, AUSA Life Insurance Company, Inc., Peoples Benefit Life Insurance Company, on their own behalf and on behalf of their separate accounts, Endeavor Series Trust and Endeavor Management Co. Note 30.
	(g)		Participation Agreement by and between PFL Life Insurance Company and Transamerica Variable Insurance Fund, Inc. Note 20.
(8)	(g)	(1)	Termination of Participation Agreement (Transamerica). Note 26.
(8)	(g)	(2)	Participation Agreement (Transamerica). Note 26.
(8)	(g)	(3)	Addendum to Participation Agreement

C-2

			(Transamerica). Note 26.
	(h)		Participation Agreement by and between Variable Insurance Product Funds and Variable Insurance Products Fund II, Fidelity Distributors Corporation, and PFL Life Insurance Company, and Addendums thereto. Note 18.
	(h)	(1)	Amended Schedule A to Participation Agreement by and between Variable Insurance Product Funds and Variable Insurance Products Fund II, Fidelity Distributors Corporation, and PFL Life Insurance Company. Note 20.
	(h)	(2)	Form of Amended Schedule A to Participation Agreement by and between Variable Insurance Product Funds and Variable Insurance Products Fund II, Fidelity Distributors Corporation, and Transamerica Life Insurance Company (formerly PFL Life Insurance Company). Note 24.
	(h)	(3)	Amendment No. 4 to Participation Agreement by and between Variable Insurance Products Funds, Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 25.
	(h)	(4)	Amendment No. 4 to Participation Agreement by and between Variable Insurance Products Fund II, Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 25.
	(h)	(5)	Amended Schedule A to Participation Agreement by and between Variable Insurance Product Funds and Variable Insurance Products Fund II, Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 25.
	(i)		Participation Agreement between Variable Insurance Products Fund III, Fidelity Distributors Corporation, and PFL Life Insurance Company. Note 19.
	(i)	(1)	Amended Schedule A to Participation Agreement between Variable Insurance Products Fund III, Fidelity Distributors Corporation, and PFL Life Insurance Company. Note 20.
	(i)	(2)	Amendment No. 2 to Participation Agreement by and between Variable Insurance Products Fund III, Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 25.
	(i)	(3)	Amended Schedule A to Participation Agreement by and between Variable Insurance Products Fund III, Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 25.
(8)	(j)		Participation Agreement by and between Janus Aspen Series and PFL Life Insurance Company. Note 21.
(8)	(j)	(1)	Amendment No. 2 to Participation Agreement by and between Janus Aspen Series and PFL Life Insurance Company. Note 22.
(8)	(k)		Participation Agreement by and among Alliance Variable Products Series Fund, PFL Life Insurance Company, AFSG Securities Corporation. Note 23.
	(k)	(1)	Amendment No. 2 to Participation Agreement by and among Alliance Variable Products Series Fund, Transamerica Life Insurance Company (formerly PFL Life Insurance Company), AFSG Securities Corporation. Note 26.
	(k)	(2)	Amendment to Participation Agreement (Alliance Bernstein). Note 47.
(8)	(l)		Participation Agreement by and among AIM Variable

C-3

			Insurance funds, Inc., AIM Distributors, Inc., PFL Life Insurance Company and AFSG Securities Corporation Note 27.
	(l)	(1)	Form of Amendment No. 7 to Participation Agreement among AIM Variable Insurance Funds, AIM Distributors, Inc., Transamerica Life Insurance Company and AFSG Securities Corporation. Note 30.
(8)	(m)		Participation Agreement among MFS Variable Insurance Trust, PFL Life Insurance Company and Massachusetts Financial Services Company. Note 28.
	(m)	(1)	Partial Termination of Participation Agreement among MFS Variable Insurance Trust, PFL Life Insurance Company and Massachusetts Financial Services Company. Note 29.
	(m)	(2)	Form of Amendment to Participation Agreement by and among MFS Variable Insurance Trust, Massachusetts Financial Services Company, and Transamerica Life Insurance Company. Note 30.
(8)	(n)		Amended and Restated Participation Agreement among Fidelity Distributors Corporation and Transamerica Life Insurance Company. Note 39
(8)	(o)		Amended and Restated Participation Agreement among Franklin/Templeton Distributors, Inc. and Transamerica Life Insurance Company. Note 49.
	(o)	(1)	Amendment No. 3 to Participation Agreement (Franklin Templeton). Note 47.
(8)	(p)		Participation Agreement among Transamerica Life Insurance Company; American Funds Insurance Series, and Capital Research and Management Company (“CRMC”). Note 51.
	(p)	(1)	Amendment No. 2 to Participation Agreement (American Funds). Note 51.
	(p)	(2)	Amendment No. 4 to Participation Agreement (American Funds). Note 51.
(8)	(q)		Participation Agreement By and Among Transamerica Life Insurance Company and GE Investments Funds, Inc. and GE Investment Distributors, Inc. and GE Asset Management Incorporated. Note 51.
(9)	(a)		Opinion and Consent of Counsel. Note 53.
(9)	(b)		Consent of Counsel. Note 53.
(10)	(a)		Consent of Independent Registered Public Accounting Firm. Note 53.
	(b)		Opinion and Consent of Actuary. Note 39.
(11)			Not Applicable.
(12)			Not Applicable.
(13)			Performance Data Calculations. Note 39.
(14)			Powers of Attorney. Craig D. Vermie, Arthur C. Schneider, Eric J. Martin, Brenda K. Clancy, M. Craig Fowler, Mark Mullin, Kenneth Kilbane. Note 48.

Note 1.	Filed with the initial filing of this Form N-4 Registration Statement (File No. 33-56908, 811-06032) on January 8, 1993.
Note 2.	Filed with the initial filing of Form N-4 Registration Statement (File No. 33-33085 on January 23, 1990.
Note 3.	Filed with Pre-Effective Amendment No. 1 to Form N-4 Registration Statement (File No. 33-33085) on April 9, 1990.
Note 4.	Filed with Post-Effective Amendment No. 2 to Form N-4 Registration Statement (File No. 33-33085) on April 1, 1991.
Note 5.	Filed with Post-Effective Amendment No. 3 to Form N-4 Registration Statement (File No. 33-33085) on May 1, 1992.
Note 6.	Filed with Post-Effective Amendment No. 5 to Form

C-4

	N-4 Registration Statement (File No. 33-33085) on April 30, 1993.
Note 7.	Filed with Pre-Effective Amendment No. 1 to this Form N-4 Registration Statement (File No. 33-56908) on December 6, 1993.
Note 8.	Filed with Post-Effective Amendment No. 10 to this Form N-4 Registration Statement (File No. 33-56908) on February 28, 1994.
Note 9.	Filed with Post-Effective Amendment No. 12 to this Form N-4 Registration Statement (File No. 33-56908) on April 29, 1994.
Note 10.	Filed with Post-Effective Amendment No. 5 to this Form N-4 Registration Statement (File No. 33-56908) on April 27, 1995.
Note 11.	Filed with Post-Effective Amendment No. 6 to this Form N-4 Registration Statement (File No. 33-56908) on April 24, 1996.
Note 12.	Filed with Post-Effective Amendment No. 7 to this Form N-4 Registration Statement (File No. 33-56908) on April 29, 1997.
Note 13.	Filed with Post-Effective Amendment No. 8 to this Form N-4 Registration Statement (File No. 33-56908) on February 27, 1998.
Note 14.	Filed with Post-Effective Amendment No. 9 to this Form N-4 Registration Statement (File No. 33-56908) on April 29, 1998.
Note 15.	Filed with Post-Effective Amendment No. 10 to this Form N-4 Registration Statement (File No. 33-56908) on September 28, 1998.
Note 16.	Filed with Post-Effective Amendment No. 11 to this Form N-4 Registration Statement (File No. 33-56908) on April 29, 1999.
Note 17.	Filed with the Initial filing of Form N-4 Registration Statement for the Access Variable Annuity (File No. 333-94489) on January 12, 2000.
Note 18.	Incorporated by reference to Pre-Effective Amendment No. 1 to Form N-4 Registration Statement (File No, 333-07509) on December 6, 1996.
Note 19.	Incorporated by reference to Post-Effective Amendment No. 1 to Form N-4 Registration Statement (File No. 333-07509) on April 29, 1997.
Note 20.	Filed with Post-Effective Amendment No. 12 to this Form N-4 Registration Statement (File No. 33-56908) on April 27, 2000.
Note 21.	Incorporated by reference to Post-Effective Amendment No. 3 to this Form N-4 Registration Statement (333-26209) on April 28, 2000.
Note 22.	Filed with Post-Effective Amendment No. 13 to this Form N-4 Registration Statement (File No. 33-56908) on October 3, 2000.
Note 23.	Incorporated by reference to Post-Effective Amendment No. 3 to Form N-4 Registration Statement (File No. 333-26209) on April 28, 2000.
Note 24.	Filed with Post-Effective Amendment No. 14 to this Form N-4 Registration Statement (File No. 33-56908) on April 30, 2001.
Note 25.	Incorporated by reference to Pre-Effective Amendment No. 1 to Form N-4 Registration Statement (File No. 333-63086) on September 13, 2001.
Note 26.	Incorporated by reference to Post-Effective Amendment No. 26 to Form N-4 Registration Statement (File No. 33-33085) on October 2, 2001.
Note 27.	Incorporated herein by reference to Post-Effective Amendment No. 5 to Form N-4 Registration Statement (File No. 333-7509) on July 16, 1998.
Note 28.	Incorporated herein by reference to Post-Effective Amendment No. 2 to Form N-4 Registration Statement (File No. 333-7509) on December 23, 1997.
Note 29.	Incorporated herein by reference to Post-Effective Amendment No. 8 to Form N-4 Registration Statement (File No. 333-7509) on April 29, 1999.
Note 30.	Filed with Post-Effective Amendment No. 16 to this Form N-4 Registration Statement (File No. 33-56908) on April 30, 2002.
Note 31.	Incorporated herein by reference to Post-Effective Amendment No. 31 to Form N-4 Registration Statement (File No. 33-33085) on October 15, 2002.
Note 32.	Filed with Post-Effective Amendment No. 17 to this form N-4 Registration Statement (File No. 33-56908) on December 30, 2002.
Note 33.	Filed with Post-Effective No. 20 to Form N-4 Registration Statement (File No. 33-56908) on April 30, 2003.
Note 34.	Filed with Post-Effective No. 22 to Form N-4 Registration Statement (File No. 33-56908) on April 30, 2004.
Note 35.	Incorporated herein by reference to Initial Filing to N-4 Registration Statement (File No. 333-116562) on June 17, 2004.
Note 36.	Incorporated herein by reference to Post-Effective Amendment No. 2 to Form N-4 Registration Statement (File No. 333-109580) on January 7, 2005.
Note 37.	Filed with Post-Effective Amendment No. 23 to Form N-4 Registration Statement (File No. 33-56908) on April 28, 2005.
Note 38.	Incorporated herein by reference to Post-Effective Amendment No. 38 to Form N-4 Registration Statement (File No. 33-33085) on September 12, 2005.
Note 39.	Filed with Post-Effective Amendment No. 27 to this Form N-4 Registration Statement (File No. 33-56908) on April 26, 2006.
Note 40.	Incorporated herein by Reference to Post-Effective Amendment No. 39 to this Form N-4 Registration Statement (File No. 33-33085) on December 12, 2005.
Note 41.	Incorporated herein by Reference to Pre-Effective Amendment No. 1 to this Form N-4 Registration Statement (File No. 333-131987) on July 19, 2006.
Note 42.	Filed with Post-Effective Amendment No. 28 to this Form N-4 Registration Statement (File No. 33-56908) on April 27, 2007.
Note 43.	Incorporated herein by Reference to Post-Effective Amendment No. 2 to Form N-4 Registration Statement (File No. 333-131987) on September 21, 2007.
Note 44.	Incorporated herein by reference to Post-Effective Amendment No. 6 to Form N-4 Registration Statement (File No. 333-125817) filed on February 15, 2008.
Note 45.	Filed with Post-Effective Amendment No. 30 to this Form N-4 Registration Statement (File No. 33-56908) on April 30, 2008.
Note 46.	Incorporated herein by reference to Post-Effective Amendment No. 5 to Form N-4 Registration Statement (File No. 333-131987) filed on August 14, 2008.
Note 47.	Filed with Post-Effective Amendment No. 31 to this Form N-4 Registration Statement (File No. 33-56908) on November 6, 2008.
Note 48.	Incorporated herein by reference to Initial Filing to Form N-4 Registration Statement (File No. 333-156259) filed on December 18, 2008.
Note 49.	Filed with Post-Effective Amendment No. 32 to this Form N-4 Registration Statement (File No. 33-56908) filed on April 30, 2009.
Note 50.	Incorporated herein by reference to Post-Effective Amendment No. 9 to Form N-4 Registration Statement (File 333-142762) filed on August 31, 2009.
Note 51.	Filed with Post-Effective Amendment No. 34 to this Form N-4 Registration Statement (File No. 33-56908) filed on November 19, 2009.
Note 52.	Filed with Post-Effective Amendment No. 35 to Form N-4 Registration Statement (File No. 33-56908) on February 16, 2010.
Note 53.	Filed herewith.

C-5

Item 25.     Directors and Officers of the Depositor

Name and Business Address	Principal Positions and Offices with Depositor
Craig D. Vermie   4333 Edgewood Road, N.E.   Cedar Rapids, IA 52499	Director, Senior Vice President, Secretary and General Counsel
Arthur C. Schneider   4333 Edgewood Road, N.E.   Cedar Rapids, IA 52499	Director, Chief Tax Officer, and Senior Vice President
Eric J. Martin   4333 Edgewood Road, N.E.   Cedar Rapids, IA 52499	Vice President and Corporate Controller
Brenda K. Clancy   4333 Edgewood Road, N.E.   Cedar Rapids, IA 52499	Director and President
M. Craig Fowler   400 West Market Street   Louisville, KY 40202	Vice President and Treasurer
Mark W. Mullin   4333 Edgewood Road, N.E.   Cedar Rapids, IA 52499	Director and Chief Executive Officer
Kenneth Kilbane   1150 South Olive Street   Los Angeles, CA 90015	Director and Chairman of the Board

C-6

Item 26. Persons Controlled by or under Common Control with the Depositor or Registrant

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Academy Alliance Holdings Inc.	Canada	100% Creditor Resources, Inc.	Holding company
Academy Alliance Insurance Inc.	Canada	100% Creditor Resources, Inc.	Insurance
AEGON Alliances, Inc.	Virginia	100% Commonwealth General Corporation	Insurance company marketing support
AEGON Asset Management Services, Inc.	Delaware	100% AUSA Holding Co.	Registered investment advisor
AEGON Assignment Corporation	Illinois	100% AEGON Financial Services Group, Inc.	Administrator of structured settlements
AEGON Assignment Corporation of Kentucky	Kentucky	100% AEGON Financial Services Group, Inc.	Administrator of structured settlements
AEGON Canada ULC	Canada	Ownership split between AEGON Canada Holding B.V. and TIHI Canada Holding, LLC	Holding company
AEGON Capital Management Inc.	Canada	100% AEGON Asset Management (Canada) B.V.	Portfolio management company/investment advisor
AEGON-CMF GP, LLC	Delaware	Transamerica Realty Services, Inc. is sole Member	Investment in commercial mortgage loans
AEGON Core Mortgage Fund, LP	Delaware	General Partner - AEGON-CMF GP, LLC	Investment in mortgages
AEGON Derivatives N.V.	Netherlands	100% AEGON N.V.	Holding company
AEGON Direct Marketing Services, Inc.	Maryland	Monumental Life Insurance Company owns 103,324 shares; Commonwealth General Corporation owns 37,161 shares	Marketing company
AEGON Direct Marketing Services International, Inc.	Maryland	100% Monumental General Insurance Group, Inc.	Marketing arm for sale of mass marketed insurance coverage
AEGON Direct Marketing Services Australia Pty Ltd.	Australia	100% Transamerica Direct Marketing Asia Pacific Pty Ltd.	Marketing/operations company
AEGON Direct Marketing Services e Corretora de Seguros Ltda.	Brazil	749,000 quota shares owned by AEGON DMS Holding B.V.; 1 quota share owned by AEGON International B.V.	Brokerage company
AEGON Direct Marketing Services Europe Ltd.	United Kingdom	100% Cornerstone International Holdings, Ltd.	Marketing
AEGON Direct Marketing Services Hong Kong Limited	China	100% AEGON DMS Holding B.V.	Provide consulting services ancillary to the marketing of insurance products overseas.
AEGON Direct Marketing Services Insurance Broker (HK) Limited	Hong Kong	100% AEGON Direct Marketing Services Hong Kong Limited	Brokerage company
AEGON Direct Marketing Services Japan K.K.	Japan	100% AEGON DMS Holding B.V.	Marketing company
AEGON Direct Marketing Services Korea Co., Ltd.	Korea	100% AEGON DMS Holding B.V.	Provide consulting services ancillary to the marketing of insurance products overseas.
AEGON Direct Marketing Services Mexico, S.A. de C.V.	Mexico	100% AEGON DMS Holding B.V.	Provide management advisory and technical consultancy services.
AEGON Direct Marketing Services Mexico Servicios, S.A. de C.V.	Mexico	100% AEGON DMS Holding B.V.	Provide marketing, trading, telemarketing and advertising services in favor of any third party, particularly in favor of insurance and reinsurance companies
AEGON Direct Marketing Services, Inc.	Taiwan	100% AEGON DMS Holding B.V.	Authorized business: Enterprise management consultancy, credit investigation services, to engage in business not prohibited or restricted under any law of R.O.C., except business requiring special permission of government
AEGON Direct Marketing Services (Thailand) Ltd.	Thailand	93% Transamerica International Direct Marketing Consultants, LLC; remaining 7% held by various AEGON employees	Marketing of insurance products in Thailand

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
AEGON DMS Holding B.V.	Netherlands	100% AEGON International B.V.	Holding company
AEGON Financial Services Group, Inc.	Minnesota	100% Transamerica Life Insurance Company	Marketing
AEGON Fund Management Inc.	Canada	100% AEGON Asset Management (Canada) B.V.	Mutual fund manager
AEGON Funding Company, LLC.	Delaware	100% AEGON USA, LLC	Issue debt securities-net proceeds used to make loans to affiliates
AEGON Institutional Markets, Inc.	Delaware	100% Commonwealth General Corporation	Provider of investment, marketing and administrative services to insurance companies
AEGON International B.V.	Netherlands	100% AEGON N.V.	Holding company
AEGON Life Insurance Agency Inc.	Taiwan	100% AEGON Direct Marketing Services, Inc. (Taiwan Domiciled)	Life insurance
AEGON Managed Enhanced Cash, LLC	Delaware	Members: Transamerica Life Insurance Company (74.8759%) ; Monumental Life Insurance Company (25.1241%)	Investment vehicle for securities lending cash collateral
AEGON Management Company	Indiana	100% AEGON U.S. Holding Corporation	Holding company
AEGON N.V.	Netherlands	22.95% of Vereniging AEGON Netherlands Membership Association	Holding company
AEGON Nederland N.V.	Netherlands	100% AEGON N.V.	Holding company
AEGON Nevak Holding B.V.	Netherlands	100% AEGON N.V.	Holding company
AEGON Stable Value Solutions Inc.	Delaware	100% Commonwealth General Corporation	Principle Business: Provides management services to the stable value division of AEGON insurers who issue synthetic GIC contracts
AEGON Structured Settlements, Inc.	Kentucky	100% Commonwealth General Corporation	Administers structured settlements of plaintiff’s physical injury claims against property and casualty insurance companies
AEGON U.S. Holding Corporation	Delaware	100% Transamerica Corporation	Holding company
AEGON USA Asset Management Holding, LLC	Iowa	100% AUSA Holding Company	Holding company
AEGON USA Investment Management, LLC	Iowa	100% AEGON USA Asset Management Holding, LLC	Investment advisor
AEGON USA Real Estate Services, Inc.	Delaware	100% AEGON USA Realty Advisors, Inc.	Real estate and mortgage holding company
AEGON USA Realty Advisors, LLC	Iowa	Sole Member - AEGON USA Asset Management Holding, LLC	Administrative and investment services
AEGON USA Realty Advisors of California, Inc.	Iowa	100% AEGON USA Realty Advisors, Inc.	Investments
AEGON USA Travel and Conference Services LLC	Iowa	100% Money Services, Inc.	Travel and conference services
AEGON USA, LLC	Iowa	100% AEGON U.S. Holding Corporation	Holding company
AFSG Securities Corporation	Pennsylvania	100% Commonwealth General Corporation	Inactive
ALH Properties Eight LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Eleven LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Four LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Nine LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Seven LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Seventeen LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Sixteen LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Ten LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Twelve LLC	Delaware	100% FGH USA LLC	Real estate
ALH Properties Two LLC	Delaware	100% FGH USA LLC	Real estate
American Bond Services LLC	Iowa	100% Transamerica Life Insurance Company (sole member)	Limited liability company

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Ampac, Inc.	Texas	100% Commonwealth General Corporation	Managing general agent
ARC Reinsurance Corporation	Hawaii	100% Transamerica Corporation	Property & Casualty Insurance
ARV Pacific Villas, A California Limited Partnership	California	General Partners - Transamerica Affordable Housing, Inc. (0.5%); Non-Affiliate of AEGON, Jamboree Housing Corp. (0.5%). Limited Partner: Transamerica Life Insurance Company (99%)	Property
Asia Business Consulting Company	China	100% Asia Investments Holdings, Limited	Provide various services upon request from Beijing Dafu Insurance Agency.
Asia Investments Holdings, Limited	Hong Kong	99% Transamerica Life Insurance Company	Holding company
AUSA Holding Company	Maryland	100% AEGON USA, LLC	Holding company
AUSA Properties, Inc.	Iowa	100% AUSA Holding Company	Own, operate and manage real estate
AUSACAN LP	Canada	General Partner - AUSA Holding Co. (1%); Limited Partner - AEGON USA, LLC (99%)	Inter-company lending and general business
Bay Area Community Investments I, LLC	California	70% Transamerica Life Insurance Company; 30% Monumental Life Insurance Company	Investments in low income housing tax credit properties
Bay State Community Investments I, LLC	Delaware	100% Monumental Life Insurance Company	Investments in low income housing tax credit properties
Bay State Community Investments II, LLC	Delaware	100% Monumental Life Insurance Company	Investments in low income housing tax credit properties
Beijing Dafu Insurance Agency Co. Ltd.	Peoples Republic of China	10% owned by WFG China Holdings, Inc.; 90% owned by private individual (non-AEGON associated)	Insurance Agency
Canadian Premier Holdings Ltd.	Canada	100% AEGON DMS Holding B.V.	Holding company
Canadian Premier Life Insurance Company	Canada	100% Canadian Premier Holdings Ltd.	Insurance company
Capital General Development Corporation	Delaware	2.64 shares of common stock owned by AEGON USA, LLC 18.79 shares of common stock owned by Commonwealth General Corporation	Holding company
Capmark Affordable Tax Credit Fund II, LLC	Delaware	100% owned by Garnet LIHTC Fund VIII, LLC	Investments
CBC Insurance Revenue Securitization, LLC	Delaware	100% Clark Consulting, LLC	Special purpose
CC Matteson, LLC	Illinois	Members: Monumental Life Insurance Company (83.03%); Pan-American Life Insurance Company, a non-affiliate of AEGON (9.75%); Nationwide Life Insurance Company, a non-affiliate of AEGON (7.22%)	Ownership of commercial real estate acquired via remedies enforcement.
Chicago Community Housing Fund I, LLC	Delaware	100% Transamerica Life Insurance Company	Investments
Clark/Bardes (Bermuda) Ltd.	Bermuda	100% Clark, LLC	Insurance agency
Clark, LLC	Delaware	Sole Member - Diverisified Investment Advisors, Inc.	Holding company
Clark Consulting, LLC	Delaware	100% Clark, LLC	Financial consulting firm
Clark Investment Strategies, Inc.	Delaware	100% Clark Consulting, LLC	Registered investment advisor
Clark Securities, Inc.	California	100% Clark Consulting, LLC	Broker-Dealer
Commonwealth General Corporation	Delaware	100% AEGON U.S. Holding Corporation	Holding company
Consumer Membership Services Canada Inc.	Canada	100% Canadian Premier Holdings Ltd.	Marketing of credit card protection membership services in Canada
Cornerstone International Holdings Ltd.	UK	100% AEGON DMS Holding B.V.	Holding company
CRG Insurance Agency, Inc.	California	100% Clark Consulting, Inc.	Insurance agency
Creditor Resources, Inc.	Michigan	100% AUSA Holding Co.	Credit insurance
CRI Canada Inc.	Canada	100% Creditor Resources, Inc.	Holding company

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
CRI Credit Group Services Inc.	Canada	100% Creditor Resources, Inc.	Holding company
CRI Solutions Inc.	Maryland	100% Creditor Resources, Inc.	Sales of reinsurance and credit insurance
Cupples State LIHTC Investors, LLC	Delaware	100% Garnet LIHTC Fund VIII, LLC	Investments
Diversified Actuarial Services, Inc.	Massachusetts	100% Diversified Investment Advisors, Inc.	Employee benefit and actuarial consulting
Diversified Investment Advisors, Inc.	Delaware	100% AUSA Holding Company	Registered investment advisor
Diversified Investors Securities Corp.	Delaware	100% Diversified Investment Advisors, Inc.	Broker-Dealer
FGH Realty Credit LLC	Delaware	100% FGH USA, LLC	Real estate
FGH USA LLC	Delaware	100% RCC North America LLC	Real estate
FGP 90 West Street LLC	Delaware	100% FGH USA LLC	Real estate
FGP Islandia, Inc.	Delaware	100% FGH USA LLC	Real estate
FGP West 32nd Street, Inc.	Delaware	100% FGH USA LLC	Real estate
FGP West Mezzanine LLC	Delaware	100% FGH USA LLC	Real estate
FGP West Street LLC	Delaware	100% FGP West Mezzanine LLC	Real estate
FGP West Street Two LLC	Delaware	100% FGH USA LLC	Real estate
Fifth FGP LLC	Delaware	100% FGH USA LLC	Real estate
Financial Planning Services, Inc.	District of Columbia	100% Commonwealth General Corporation	Special-purpose subsidiary
First FGP LLC	Delaware	100% FGH USA LLC	Real estate
Flashdance, LLC	New York	100% Transamerica Life Insurance Company	Broadway production
Fourth & Market Funding, LLC	Delaware	Commonwealth General Corporation owns 0% participating percentage, but is Managing Member. Ownership: 99% Monumental Life Insurance Company and 1% Garnet Assurance Corporation II	Inactive
Fourth FGP LLC	Delaware	100% FGH USA LLC	Real estate
Garnet Assurance Corporation	Kentucky	100% Transamerica Life Insurance Company	Investments
Garnet Assurance Corporation II	Iowa	100% Commonwealth General Corporation	Business investments
Garnet Community Investments, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments II, LLC	Delaware	100% Monumental Life Insurance Company	Securities
Garnet Community Investments III, LLC	Delaware	100% Transamerica Life Insurance Company	Business investments
Garnet Community Investments IV, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments V, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments VI, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments VII, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments VIII, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments IX, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments X, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments XI, LLC	Delaware	100% Monumental Life Insurance Company	Investments
Garnet Community Investments XII, LLC	Delaware	100% Monumental Life Insurance Company	Investments

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Garnet LIHTC Fund II, LLC	Delaware	Members: Garnet Community Investments II, LLC (0.01%); Metropolitan Life Insurance Company, a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund III, LLC	Delaware	Members: Garnet Community Investments III, LLC (0.01%); Jefferson-Pilot Life Insurance Company, a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund IV, LLC	Delaware	Members: Garnet Community Investments IV, LLC (0.01%); Goldenrod Asset Management, Inc., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund V, LLC	Delaware	Members: Garnet Community Investments V, LLC (0.01%); Lease Plan North America, Inc., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund VI, LLC	Delaware	Members: Garnet Community Investments VI, LLC (0.01%); Pydna Corporation, a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund VII, LLC	Delaware	Members: Garnet Community Investments VII, LLC (0.01%); J.P. Morgan Chase Bank, N.A., a non- AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund VIII, LLC	Delaware	Members: Garnet Community Investments VIII, LLC (0.01%); J.P. Morgan Chase Bank, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund IX, LLC	Delaware	Members: Garnet Community Investments IX, LLC (0.01%); Bank of America, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund X, LLC	Delaware	Members: Garnet Community Investments X, LLC (0.01%); Goldenrod Asset Management, a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XI, LLC	Delaware	Members: Garnet Community Investments XI, LLC (0.01%); NorLease, Inc., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XII, LLC	Delaware	Garnet Community Investments XII, LLC (.01%); and the following non-AEGON affiliates: Bank of America, N.A. (73.39%); J.P. Morgan Chase Bank, N.A. (13.30%); NorLease, Inc. (13.30%)	Investments
Garnet LIHTC Fund XII-A, LLC	Delaware	Garnet Community Investments XII, LLC (0.01%); Bank of America, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XII-B, LLC	Delaware	Garnet Community Investments XII, LLC (0.01%); J.P. Morgan Chase Bank, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XII-C, LLC	Delaware	Garnet Community Investments XII, LLC (.01%); NorLease, Inc., a non- AEGON affiliate (99.99%)	Investments

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Garnet LIHTC Fund XIII, LLC	Delaware	Garnet Community Investments XII, LLC (.01%); and the following non-AEGON affiliates: Bank of America, N.A.( 73.39%); J.P. Morgan Chase Bank, N.A. (13.30%); NorLease, Inc. (13.30%)	Investments
Garnet LIHTC Fund XIII-A, LLC	Delaware	Garnet Community Investments XII, LLC (.01%); J.P. Morgan Chase Bank, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XIII-B, LLC	Delaware	Garnet Community Investments XII, LLC (.01%); Norlease, Inc., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XIV, LLC	Delaware	0.01% Garnet Community Investments, LLC; 49.995% Wells Fargo Bank, N.A.; and 49.995% Goldenrod Asset Management Inc	Investments
Garnet LIHTC Fund XV, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); Bank of America, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XVI, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); FNBC Leasing Corporation, a non-AEGON entity (99.99%)	Investments
Garnet LIHTC Fund XVII, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); ING USA Annuity and Life Insurance company, a non-affiliate of AEGON (12.999%), and ReliaStar Life Insurance Company, a non-affiliate of AEGON (86.991%)	Investments
Garnet LIHTC Fund XVIII, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XIX, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); Bank of America, N.A., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XX, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XXI, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XXII, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); Norlease, Inc., a non-AEGON affiliate (99.99%)	Investments
Garnet LIHTC Fund XXIII, LLC	Delaware	Members: Garnet Community Investments, LLC (0.01%); Idacorp Financial Services, Inc. (99.99%)	Investments
Garnet LIHTC Fund XXIV, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XXV, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XXVI, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Garnet LIHTC Fund XXVII, LLC	Delaware	100% Garnet Community Investments, LLC	Investments
Global Preferred Re Limited	Bermuda	100% AEGON USA, LLC	Reinsurance
Innergy Lending, LLC	Delaware	50% World Financial Group, Inc.; 50% ComUnity Lending, Inc. (non-AEGON entity)	In the process of being dissolved
Investment Advisors International, Inc.	Delaware	100% AUSA Holding Company	Investments

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Investors Warranty of America, Inc.	Iowa	100% AUSA Holding Co.	Leases business equipment
JMH Operating Company, Inc.	Mississippi	100% Monumental Life Insurance Company	Real estate holdings
Legacy General Insurance Company	Canada	100% Canadian Premier Holdings Ltd.	Insurance company
Life Investors Alliance, LLC	Delaware	100% Transamerica Life Insurance Company	Purchase, own, and hold the equity interest of other entities
Life Investors Financial Group, Inc.	Iowa	100% AUSA Holding Company	Special-purpose subsidiary
LIICA Holdings, LLC	Delaware	Sole Member: Transamerica Life Insurance Company	To form and capitalize LIICA Re I, Inc.
LIICA Re I, Inc.	Vermont	100% LIICA Holdings, LLC	Captive insurance company
LIICA Re II, Inc.	Vermont	100% Transamerica Life Insurance Company	Captive insurance company
Massachusetts Fidelity Trust Company	Iowa	100% AUSA Holding Co.	Trust company
Merrill Lynch Life Insurance Company	Arkansas	100% AEGON USA, LLC	Insurance company
ML Life Insurance Company of New York	New York	100% AEGON USA, LLC	Insurance company
MLIC Re I, Inc.	Vermont	100% Stonebridge Life Insurance Company	Captive insurance company
Money Services, Inc.	Delaware	100% AUSA Holding Co.	Provides financial counseling for employees and agents of affiliated companies
Monumental General Administrators, Inc.	Maryland	100% Monumental General Insurance Group, Inc.	Provides management services to unaffiliated third party administrator
Monumental General Insurance Group, Inc.	Maryland	100% AUSA Holding Co.	Holding company
Monumental Life Insurance Company	Iowa	99.72% Capital General Development Corporation; .28% Commonwealth General Corporation	Insurance Company
nVISION Financial, Inc.	Iowa	100% AUSA Holding Company	Special-purpose subsidiary
National Association Management and Consultant Services, Inc.	Maryland	100% Monumental General Administrators, Inc.	Provides actuarial consulting services
NEF Investment Company	California	100% Transamerica Life Insurance Company	Real estate development
New Markets Community Investment Fund, LLC	Iowa	50% AEGON Institutional Markets, Inc.; 50% AEGON USA Realty Advisors, Inc.	Community development entity
Oncor Insurance Services, LLC	Iowa	Sole Member-Life Investors Financial Group, Inc.	Direct sales of term life insurance
Peoples Benefit Services, Inc.	Pennsylvania	100% Stonebridge Life Insurance Company	Special-purpose subsidiary
Pine Falls Re, Inc.	Vermont	100% Stonebridge Life Insurance Company	Captive insurance company
Primus Guaranty, Ltd.	Bermuda	Partners are: Transamerica Life Insurance Company (13.1%) and non-affiliates of AEGON: XL Capital, Ltd. (34.7%); CalPERS/PCO Corporate Partners Fund, LLC (13.0%); Radian Group (11.1%). The remaining 28.1% of stock is publicly owned	Provides protection from default risk of investment grade corporate and sovereign issues of financial obligations.
Prisma Holdings, Inc. I	Delaware	100% AEGON USA Asset Management Holding, LLC	Holding company
Prisma Holdings, Inc. II	Delaware	100% AEGON USA Asset Management Holding, LLC	Holding company
Pyramid Insurance Company, Ltd.	Hawaii	100% Transamerica Corporation	Property & Casualty Insurance
Quantitative Data Solutions, LLC	Delaware	100% Transamerica Life Insurance Company	Special purpose corporation
RCC North America LLC	Delaware	100% AEGON USA, LLC	Real estate

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Real Estate Alternatives Portfolio 1 LLC	Delaware	Members: Transamerica Life Insurance Company (90.958905%); Monumental Life Insurance Company (6.301370%); Transamerica Financial Life Insurance Company (2.739725%). Manager: AEGON USA Realty Advisors, Inc.	Real estate alternatives investment
Real Estate Alternatives Portfolio 2 LLC	Delaware	Members are: Transamerica Life Insurance Company (90.25%); Transamerica Financial Life Insurance Company (7.5%); Stonebridge Life Insurance Company (2.25%). Manager: AEGON USA Realty Advisors, Inc.	Real estate alternatives investment
Real Estate Alternatives Portfolio 3 LLC	Delaware	Members are: Transamerica Life Insurance Company (73.4%); Monumental Life Insurance Company (25.6%); Stonebridge Life Insurance Company (1%). Manager: AEGON USA Realty Advisors, Inc.	Real estate alternatives investment
Real Estate Alternatives Portfolio 3A, Inc.	Delaware	Members: Monumental Life Insurance Company (37%); Transamerica Financial Life Insurance Company (9.4%); Transamerica Life Insurance Company (52.6%); Stonebridge Life Insurance Company (1%)	Real estate alternatives investment
Real Estate Alternatives Portfolio 4 HR, LLC	Delaware	Members are: Transamerica Life Insurance Company (64%); Monumental Life Insurance Company (32%); Transamerica Financial Life Insurance Company (4%). Manager: AEGON USA Realty Advisors, Inc.	Investment vehicle for alternative real estate investments that are established annually for our affiliated companies common investment
Real Estate Alternatives Portfolio 4 MR, LLC	Delaware	Members are: Transamerica Life Insurance Company (64%); Monumental Life Insurance Company (32%); Transamerica Financial Life Insurance Company (4%). Manager: AEGON USA Realty Advisors Inc	Investment vehicle for alternative real estate investments that are established annually for our affiliated companies common investment
Real Estate Alternatives Portfolio 5 RE, LLC	Delaware	AEGON USA Realty Advisors, LLC is non-owner Manager; no ownership interests at this time.	Real estate investments
Realty Information Systems, Inc.	Iowa	100% Transamerica Realty Services, LLC	Information Systems for real estate investment management
Retirement Project Oakmont	California	General Partner: Transamerica Oakmont Retirement Associates, a CA limited partnership; Transamerica Life Insurance Company (limited partner); and Oakmont Gardens, a CA limited partnership (non-AEGON entity limited partner). General Partner of Transamerica Oakmont Retirement Associates is Transamerica Oakmont Corporation. 100 units of limited partnership interests widely held by individual investors.	Senior living apartment complex
River Ridge Insurance Company	Vermont	100% AEGON Management Company	Captive insurance company
Second FGP LLC	Delaware	100% FGH USA LLC	Real estate

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Selient Inc.	Canada	100% Canadian Premier Holdings Ltd.	Application service provider providing loan origination platforms to Canadian credit unions.
Separate Account Fund C	California	100% Transamerica Life Insurance Company	Mutual Fund
Seventh FGP LLC	Delaware	100% FGH USA LLC	Real estate
Short Hills Management Company	New Jersey	100% AEGON U.S. Holding Corporation	Holding company
Southwest Equity Life Insurance Company	Arizona	Voting common stock is allocated 75% of total cumulative vote - AEGON USA, LLC. Participating Common stock (100% owned by non-AEGON shareholders) is allocated 25% of total cumulative vote.	Insurance
Stonebridge Benefit Services, Inc.	Delaware	100% Commonwealth General Corporation	Health discount plan
Stonebridge Casualty Insurance Company	Ohio	100% AEGON USA, LLC	Insurance company
Stonebridge Group, Inc.	Delaware	100% Commonwealth General Corporation	General purpose corporation
Stonebridge International Insurance Ltd.	UK	100% Cornerstone International Holdings Ltd.	General insurance company
Stonebridge Life Insurance Company	Vermont	100% Commonwealth General Corporation	Insurance company
Stonebridge Reinsurance Company	Vermont	100% Stonebridge Life Insurance Company	Captive insurance company
TA Air XI, Corp.	Delaware	100% TCFC Air Holdings, Inc.	Special purpose corporation
TAH-MCD IV, LLC	Iowa	Sole Member - Transamerica Affordable Housing, Inc.	Serve as the general partner for McDonald Corporate Tax Credit Fund IV Limited Partnership
TAH Pentagon Funds, LLC	Iowa	Sole Member - Transamerica Affordable Housing, Inc.	Serve as a general partner in a lower-tier tax credit entity
TCF Asset Management Corporation	Colorado	100% TCFC Asset Holdings, Inc.	A depository for foreclosed real and personal property
TCFC Air Holdings, Inc.	Delaware	100% Transamerica Commercial Finance Corporation, I	Holding company
TCFC Asset Holdings, Inc.	Delaware	100% Transamerica Commercial Finance Corporation, I	Holding company
TCFC Employment, Inc.	Delaware	100% Transamerica Commercial Finance Corporation, I	Used for payroll for employees at Transamerica Finance Corporation
The AEGON Trust Advisory Board: Patrick J. Baird, Alexander R. Wynaendts, and Craig D. Vermie	Delaware	AEGON International B.V.	Voting Trust
The RCC Group, Inc.	Delaware	100% FGH USA LLC	Real estate
TIHI Canada Holding, LLC	Iowa	Sole Member - Transamerica International Holdings, Inc.	Holding company
TIHI Mexico, S. de R.L. de C.V.	Mexico	95% Transamerica International Holdings, Inc.; 5% Transamerica Life Insurance Company	To render and receive all kind of administrative, accountant, mercantile and financial counsel and assistance to and from any other Mexican or foreign corporation, whether or not this company is a shareholder of them
Transamerica Accounts Holding Corporation	Delaware	100% TCFC Asset Holdings, Inc.	Holding company
Transamerica Affinity Services, Inc.	Maryland	100% AEGON Direct Marketing Services, Inc.	Marketing company
Transamerica Affordable Housing, Inc.	California	100% Transamerica Realty Services, LLC	General partner LHTC Partnership
Transamerica Annuity Service Corporation	New Mexico	100% Transamerica International Holdings, Inc.	Performs services required for structured settlements

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Transamerica Asset Management, Inc.	Florida	Western Reserve Life Assurance Co. of Ohio owns 77%; AUSA Holding Co. owns 23%.	Fund advisor
Transamerica Aviation LLC	Delaware	100% TCFC Air Holdings, Inc.	Special purpose corporation
Transamerica Capital, Inc.	California	100% AUSA Holding Co.	Broker/Dealer
Transamerica Commercial Finance Corporation, I	Delaware	100% Transamerica Finance Corporation	Holding company
Transamerica Consultora Y Servicios Limitada	Chile	95% Transamerica Life Insurance Company; 5% Transamerica International Holdings, Inc.	Special purpose limited liability corporation
Transamerica Consumer Finance Holding Company	Delaware	100% TCFC Asset Holdings, Inc.	Consumer finance holding company
Transamerica Corporation	Delaware	100% The AEGON Trust	Major interest in insurance and finance
Transamerica Corporation (Oregon)	Oregon	100% Transamerica Corporation	Holding company
Transamerica Direct Marketing Asia Pacific Pty Ltd.	Australia	100% AEGON DMS Holding B.V.	Holding company
Transamerica Direct Marketing Consultants, LLC	Maryland	51% Hugh J. McAdorey; 49% AEGON Direct Marketing Services, Inc.	Provide consulting services ancillary to the marketing of insurance products overseas.
Transamerica Distribution Finance—Overseas, Inc.	Delaware	100% TCFC Asset Holdings, Inc.	Commercial Finance
Transamerica Finance Corporation	Delaware	100% Transamerica Corporation	Commercial & Consumer Lending & equipment leasing
Transamerica Financial Advisors, Inc. (f/k/a InterSecurities, Inc.)	Delaware	1,00 shares owned by AUSA Holding Company; 209 shares owned by Transamerica International Holdings, Inc	Broker/Dealer
Transamerica Financial Life Insurance Company	New York	87.40% AEGON USA, LLC; 12.60% Transamerica Life Insurance Company	Insurance
Transamerica Fund Services, Inc.	Florida	Western Reserve Life Assurance Co. of Ohio owns 44%; AUSA Holding Company owns 56%	Mutual fund
Transamerica Funding LP	U.K.	99% Transamerica Leasing Holdings, Inc.; 1% Transamerica Commercial Finance Corporation, I	Intermodal leasing
Transamerica Holding B.V.	Netherlands	100% AEGON International B.V.	Holding company
Transamerica Home Loan	California	100% Transamerica Consumer Finance Holding Company	Consumer mortgages
Transamerica Insurance Marketing Asia Pacific Pty Ltd.	Australia	100% Transamerica Direct Marketing Asia Pacific Pty Ltd.	Insurance intermediary
Transamerica International Direct Marketing Consultants, LLC	Maryland	51% Hugh J. McAdorey; 49% AEGON Direct Marketing Services, Inc.	Provide consulting services ancillary to the marketing of insurance products overseas.
Transamerica International Holdings, Inc.	Delaware	100% AEGON USA, LLC	Holding company
Transamerica Investment Holdings, LLC	Delaware	100 shares of Class A stock owned by Transamerica Investment Services, Inc.; 1,902.82 shares of Class B stock owned by Professional Members (employees of Transamerica Investment Services Inc)	Holding company
Transamerica International RE (Bermuda) Ltd.	Bermuda	100% AEGON USA, LLC	Reinsurance
Transamerica International Re Escritório de Representação no Brasil Ltd	Brazil	95% Transamerica International Re(Bermuda) Ltd.; 5% Transamerica International Holdings, Inc.	Insurance and reinsurance consulting

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Transamerica Investment Management, LLC	Delaware	81.75% Transamerica Investment Services, Inc. as Original Member; 18.25% owned by Professional Members (employees of Transamerica Investment Services, Inc.)	Investment advisor
Transamerica Investment Services, LLC	Delaware	100% AEGON USA Asset Management Holding, LLC	Holding company
Transamerica Investors, Inc.	Maryland	100% Transamerica Asset Management, Inc.	Open-end mutual fund
Transamerica Leasing Holdings, Inc.	Delaware	100% Transamerica Finance Corporation	Holding company
Transamerica Life (Bermuda) Ltd.	Bermuda	100% Transamerica Life Insurance Company	Long-term life insurer in Bermuda - - will primarily write fixed universal life and term insurance
Transamerica Life Canada	Canada	100% AEGON Canada ULC	Life insurance company
Transamerica Life Insurance Company	Iowa	676,190 shares Common Stock owned by Transamerica International Holdings, Inc.; 86,590 shares of Preferred Stock owned by Transamerica Corporation; 30,564 shares of Preferred Stock owned by AEGON USA, LLC	Insurance
Transamerica Life Solutions, LLC	Delaware	Investors Warranty of America, Inc. - sole member	Provision of marketing, training, educational, and support services to life insurance professionals relating to the secondary market for life insurance, primarily through its affiliation with LexNet, LP, a life settlements marketplace.
Transamerica Minerals Company	California	100% Transamerica Realty Services, LLC	Owner and lessor of oil and gas properties
Transamerica Oakmont Corporation	California	100% Transamerica International Holdings, Inc.	General partner retirement properties
Transamerica Oakmont Retirement Associates	California	General Partner is Transamerica Oakmont Corporation. 100 units of limited partnership interests widely held by individual investors	Senior living apartments
Transamerica Pacific Insurance Company, Ltd.	Hawaii	26,000 shares common stock owned by Commonwealth General Corporation; 1,000 shares of common stock owned by Transamerica International Holdings, Inc	Life insurance
Transamerica Pyramid Properties LLC	Iowa	100% Transamerica Life Insurance Company	Realty limited liability company
Transamerica Realty Investment Properties LLC	Delaware	100% Transamerica Life Insurance Company	Realty limited liability company
Transamerica Realty Services, LLC	Delaware	AUSA Holding Company - sole Member	Real estate investments
Transamerica Retirement Management, Inc.	Minnesota	100% AEGON Financial Services Group, Inc.	Life Insurance and underwriting services
Transamerica Retirement Services Corp.	Ohio	100% AUSA Holding Company	Record keeping
Transamerica Small Business Capital, Inc.	Delaware	100% TCFC Asset Holdings, Inc.	Holding company
Transamerica Trailer Leasing Sp. Z.O.O.	Poland	100% Transamerica Leasing Holdings, Inc.	Leasing
Transamerica Vendor Financial Services Corporation	Delaware	100% TCFC Asset Holdings, Inc.	Provides commercial leasing
United Financial Services, Inc.	Maryland	100% AEGON USA, LLC	General agency
Universal Benefits Corporation	Iowa	100% AUSA Holding Co.	Third party administrator
USA Administration Services, Inc.	Kansas	100% Transamerica Life Insurance Company	Third party administrator

Name	Jurisdiction of Incorporation	Percent of Voting Securities Owned	Business
Western Reserve Life Assurance Co. of Ohio	Ohio	100% AEGON USA, LLC	Insurance
Westport Strategies, LLC	Delaware	AUSA Holding Company - sole Member	Provide administrative and support services, including but not limited to plan consulting, design and administration in connection with retail insurance brokerage business as carried on by producers related to corporate-owned or trust-owned life insurance policies
WFG China Holdings, Inc.	Delaware	100% World Financial Group, Inc.	Hold interest in Insurance Agency located in Peoples Republic of China
WFG Insurance Agency of Puerto Rico, Inc.	Puerto Rico	100% World Financial Group Insurance Agency, Inc.	Insurance agency
WFG Properties Holdings, LLC	Georgia	100% World Financial Group, Inc.	Marketing
WFG Property & Casualty Insurance Agency of California, Inc.	California	100% WFG Property & Casualty Insurance Agency, Inc.	Insurance agency
WFG Property & Casualty Insurance Agency of Nevada, Inc.	Nevada	100% WFG Property & Casualty Insurance Agency, Inc.	Insurance agency
WFG Property & Casualty Insurance Agency, Inc.	Georgia	100% World Financial Group Insurance Agency, Inc.	Insurance agency
WFG Reinsurance Limited	Bermuda	51% owned by World Financial Group, Inc; remaining 49% is annually offered to independent contractors associated with WFG Reinsurance Ltd	Reinsurance
WFG Securities of Canada, Inc.	Canada	100% World Financial Group Holding Company of Canada, Inc.	Mutual fund dealer
World Financial Group Holding Company of Canada Inc.	Canada	100% Transamerica International Holdings, Inc.	Holding company
World Financial Group Insurance Agency of Canada Inc.	Ontario	50% World Financial Group Holding Co. of Canada Inc.; 50% World Financial Group Subholding Co. of Canada Inc.	Insurance agency
World Financial Group Insurance Agency of Hawaii, Inc.	Hawaii	100% World Financial Group Insurance Agency, Inc.	Insurance agency
World Financial Group Insurance Agency of Massachusetts, Inc.	Massachusetts	100% World Financial Group Insurance Agency, Inc.	Insurance agency
World Financial Group Insurance Agency of Wyoming, Inc.	Wyoming	100% World Financial Group Insurance Agency, Inc.	Insurance agency
World Financial Group Insurance Agency, Inc.	California	100% Western Reserve Life Assurance Co. of Ohio	Insurance agency
World Financial Group Subholding Company of Canada Inc.	Canada	100% World Financial Group Holding Company of Canada, Inc.	Holding company
World Financial Group, Inc.	Delaware	100% AEGON Asset Management Services, Inc.	Marketing
World Group Securities, Inc.	Delaware	100% AEGON Asset Management Services, Inc.	Broker-dealer
Zahorik Company, Inc.	California	100% AUSA Holding Co.	Inactive
Zero Beta Fund, LLC	Delaware	Members are: Transamerica Life Insurance Company (74.0181%); Monumental Life Insurance Company (23.6720%); Transamerica Financial Life Insurance Company (2.3097%). Manager: AEGON USA Investment Management LLC	Aggregating vehicle formed to hold various fund investments.

Item 27.    Number of Policyowners

As of March 31, 2010, there were 9,513 Owners of the Policies.

Item 28.    Indemnification

The Iowa Code (Sections 490.850 et. seq.) provides for permissive indemnification in certain situations, mandatory indemnification in other situations, and prohibits indemnification in certain situations. The Code also specifies procedures for determining when indemnification payments can be made.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Depositor pursuant to the foregoing provisions, or otherwise, the Depositor 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 Depositor of expenses incurred or paid by a director, officer or controlling person in connection with the securities being registered), the Depositor 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) Transamerica Capital, Inc. serves as the principal underwriter for:

Transamerica Capital, Inc. serves as the principal underwriter for the Retirement Builder Variable Annuity Account, Separate Account VA A, Separate Account VA B, Separate Account VA C, Separate Account VA D, Separate Account VA E, Separate Account VA F, Separate Account VA I, Separate Account VA J, Separate Account VA K, Separate Account VA L, Separate Account VA P, Separate Account VA Q, Separate Account VA R, Separate Account VA S, Separate Account VA W, Separate Account VA X, Separate Account VA Y; Separate Account VA Z, Separate Account VA EE, Separate Account VA-1, Separate Account VA-2L, Separate Account VA-5, Separate Account VA-6, Separate Account VA-7, Separate Account VA-8, Separate Account Fund B, Separate Account Fund C, Transamerica Corporate Separate Account Sixteen, Transamerica Separate Account R3, Separate Account VUL-3 Separate Account VUL A Separate Account VL, Separate Account VUL-1, Separate Account VUL-2, Separate Account VUL-4, Separate Account VUL-5, Separate Account VUL-6, and Variable Life Account A. These accounts are separate accounts of Transamerica Life Insurance Company.

Transamerica Capital, Inc. serves as principal underwriter for Separate Account VA BNY, Separate Account VA GNY, Separate Account VA HNY, Separate Account VA QNY, Separate Account VA WNY, Separate Account VA YNY, TFLIC Separate Account VNY, Separate Account VA-2LNY, TFLIC Separate Account C, Separate Account VA-5NLNY, Separate Account VA-6NY, TFLIC Series Annuity Account and TFLIC Series Life Account. These accounts are separate accounts of Transamerica Financial Life Insurance Company.

Transamerica Capital, Inc. serves as principal underwriter for Separate Account VA U, Separate Account VA V, Separate Account VA AA, WRL Series Life Account, WRL Series Life Account G, WRL Series Life Corporate Account, WRL Series Annuity Account and WRL Series Annuity Account B. These accounts are separate accounts of Western Reserve Life Assurance Co. of Ohio.

Transamerica Capital, Inc. also serves as principal underwriter for Separate Account VA BB, Separate Account VA CC, Separate Account VA WM, and Separate Account VL E. This account is a separate account of Monumental Life Insurance Company.

Transamerica Capital, Inc. also serves as principal underwriter for Merrill Lynch Life Variable Annuity Separate Account, Merrill Lynch Life Variable Annuity Separate Account A, Merrill Lynch Life Variable Annuity Separate Account B, Merrill Lynch Life Variable Annuity Separate Account C, Merrill Lynch Life Variable Annuity Separate Account D, Merrill Lynch Variable Life Separate Account, and Merrill Lynch Life Variable Life Separate Account II. These accounts are separate accounts of Merrill Lynch Life Insurance Company.

Transamerica Capital, Inc. also serves as principal underwriter for ML of New York Variable Annuity Separate Account, ML of New York Variable Annuity Separate Account A, ML of New York Variable Annuity Separate Account B, ML of New York Variable Annuity Separate Account C, ML of New York Variable Annuity Separate Account D, ML of New York Variable Life Separate Account, and ML of New York Variable Life Separate Account II. These accounts are separate accounts of ML Life Insurance Company of New York.

Transamerica Capital, Inc. also serves as principal underwriter for Transamerica Series Trust, Transamerica Funds and Transamerica Investors, Inc.

(b) Directors and Officers of Transamerica Capital, Inc.:

Name	Principal Business Address	Position and Offices with Underwriter
Thomas A. Swank	(1)	Director
David W. Hopewell	(1)	Director
Lon J. Olejniczak	(1)	Chief Executive Officer and Director
Michael W. Brandsma	(2)	Director, President and Chief Financial Officer
Blake S. Bostwick	(2)	Chief Operations Officer
David R. Paulsen	(2)	Executive Vice President
Michael G. Petko	(2)	Executive Vice President
Anne M. Spaes	(3)	Executive Vice President and Chief Marketing Officer
Courtney John	(2)	Chief Compliance Officer and Vice President
Frank A. Camp	(1)	Secretary
Amy J. Boyle	(4)	Assistant Vice President
John W. Fischer	(4)	Assistant Vice President
Clifton W. Flenniken, III	(5)	Assistant Vice President
Dennis P. Gallagher	(4)	Assistant Vice President
Wesley J. Hodgson	(2)	Assistant Vice President
Karen D. Heburn	(4)	Vice President
Kyle A. Keelan	(4)	Assistant Vice President
Christy Post-Rissin	(4)	Assistant Vice President
Brenda L. Smith	(4)	Assistant Vice President
Darin D. Smith	(1)	Assistant Vice President
Arthur D. Woods	(4)	Assistant Vice President
Tamara D. Barkdoll	(2)	Assistant Secretary
Erin K. Burke	(1)	Assistant Secretary
Amy Angle	(3)	Assistant Secretary
Elizabeth Belanger	(6)	Assistant Vice President
Jeff Carnal	(7)	Assistant Vice President
Julie Allomong	(7)	Assistant Vice President

(1) 4333 Edgewood Road N.E., Cedar Rapids, IA 52499-0001

(2) 4600 S Syracuse St, Suite 1100, Denver, CO 80237-2719

(3) 400 West Market Street, Louisville, KY 40202

(4) 570 Carillon Parkway, St. Petersburg, FL 33716

(5) 1111 North Charles Street, Baltimore, MD 21201

(6) 440 Mamaroneck Avenue, Harrison, NY 10528

(7) 1150 South Olive, Los Angeles, CA 90015

(c) Compensation to Principal Underwriter:

Name of Principal Underwriter	Net Underwriting Discounts and Commissions(1)	Compensation on Redemption	Brokerage Commissions	Compensation
Transamerica Capital, Inc.	$10,063,056	0	0	0

⁽¹⁾ Fiscal Year 2009

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 promulgated thereunder, are maintained by Manager Regulatory Filing Unit Transamerica, at 4 Manhattanville Road, Purchase, New York 10577, or its Service Office, Financial Markets Group—Variable Annuity Dept., 4333 Edgewood Road N.E., Cedar Rapids, Iowa 52499.

Item 31.    Management Services.

All management Policies are discussed in Part A or Part B.

Item 32.    Undertakings

(a) Registrant undertakes that it will file a post-effective amendment to this registration statement as frequently as necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old for so long as Premiums under the Policy may be accepted.

(b) Registrant undertakes that it will include either (i) 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 or (ii) a space in the Policy application that an applicant can check to request a Statement of Additional Information.

(c) Registrant undertakes 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 to Transamerica at the address or phone number listed in the Prospectus.

(d) Transamerica hereby represents that the fees and charges deducted under the policies, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Transamerica.

Section 403(b) Representations

Transamerica represents that it is relying on a no-action letter dated November 28, 1988, to the American Council of Life Insurance (Ref. No. IP-6-88), regarding Sections 22(e), 27(c)(1), and 27(d) of the Investment Company Act of 1940, in connection with redeemability restrictions on Section 403(b) Policies, and that paragraphs numbered (1) through (4) of that letter will be complied with.

SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant hereby certifies that this Amendment to the Registration Statement meets the requirements for effectiveness pursuant to paragraph (b) of Securities Act Rule 485 and has caused this Registration Statement to be signed on its behalf, in the City of Cedar Rapids and State of Iowa, on this 23^rd day of April, 2010.

SEPARATE ACCOUNT VA B

TRANSAMERICA LIFE INSURANCE COMPANY

Depositor

*

Brenda K. Clancy

President

As required by the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

Signatures	Title	Date
* Craig D. Vermie	Director, Secretary, Senior Vice President, and General Counsel	, 2010
* Arthur C. Schneider	Director, Chief Tax Officer, and Senior Vice President	, 2010
* Eric J. Martin	Vice President and Corporate Controller	, 2010
* Brenda K. Clancy	Director and President	, 2010
* M. Craig Fowler	Vice President and Treasurer	, 2010
* Mark W. Mullin	Chief Executive Officer and Director	, 2010
* Kenneth Kilbane	Chairman of the Board and Director	, 2010

  *By: /S/    DARIN D. SMITH         Darin D. Smith Vice President, Assistant Secretary, and General Counsel April 23, 2010

*By: Darin D. Smith – Attorney-in-Fact pursuant to powers of attorney filed previously and herewith.

Registration No.

33-56908

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

EXHIBITS

TO

FORM N-4

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

FOR

SEPARATE ACCOUNT VA B

EXHIBIT INDEX

Exhibit No.	Description of Exhibit	Page No.*
4(y)	Form of Policy Rider (Income Link)
8(b)(11)	Amendment No. 42 to Participation Agreement (Transamerica Series Trust).
9(a)	Opinion and Consent of Counsel
9(b)	Consent of Counsel
10(a)	Consent of Independent Registered Public Accounting Firm

* Page numbers included only in manually executed original.