December 31, 2001 •  Pacific Select Fund •  Separate Account A of
Pacific Life Insurance Company

Annual

    Reports

PACIFIC SELECT

TABLE OF CONTENTS

PACIFIC SELECT FUND

Chairman’s Letter	A-1
Performance Discussion	A-2
Schedules of Investments and Notes	B-1
Financial Statements:
Statements of Assets and Liabilities	C-1
Statements of Operations	C-5
Statements of Changes in Net Assets	C-9
Financial Highlights	D-1
Notes to Financial Statements	E-1
Independent Auditors’ Report	F-1
SEPARATE ACCOUNT A
Financial Statements:
Statement of Assets and Liabilities	G-1
Statement of Operations	G-5
Statement of Changes in Net Assets	G-9
Notes to Financial Statements	H-1
Independent Auditors’ Report	I-1

SEPARATE ACCOUNT A

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2001

(In thousands)

	Blue Chip Variable Account	Aggressive Growth Variable Account	Emerging Markets Variable Account	Diversified Research Variable Account	Small-Cap Equity Variable Account	International Large-Cap Variable Account	I-Net Tollkeeper Variable Account	Financial Services Variable Account	Health Sciences Variable Account
ASSETS
Investments:
Blue Chip Portfolio	$399,469
Aggressive Growth Portfolio		$65,998
Emerging Markets Portfolio			$93,720
Diversified Research Portfolio				$187,693
Small-Cap Equity Portfolio					$228,677
International Large-Cap Portfolio						$374,465
I-Net Tollkeeper Portfolio							$60,858
Financial Services Portfolio								$51,669
Health Sciences Portfolio									$70,567
Receivables:
Due from Pacific Life Insurance Company	1,761	279		1,476	833		372	322	463
Fund shares redeemed			124			2,316
Total Assets	401,230	66,277	93,844	189,169	229,510	376,781	61,230	51,991	71,030
LIABILITIES
Payables:
Due to Pacific Life Insurance Company			124			2,316
Fund shares purchased	1,761	279		1,476	833		372	322	463
Other	20	3	5	11	15	18	3	3	4
Total Liabilities	1,781	282	129	1,487	848	2,334	375	325	467
NET ASSETS	$399,449	$65,995	$93,715	$187,682	$228,662	$374,447	$60,855	$51,666	$70,563
Shares Owned in each Portfolio	49,091	8,227	15,263	17,605	13,140	58,892	13,571	5,587	7,645
Cost of Investments	$438,963	$71,113	$99,788	$186,311	$243,972	$392,529	$99,854	$52,029	$67,937

See Notes to Financial Statements

G-1

SEPARATE ACCOUNT A

STATEMENT OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2001

(In thousands)

	Technology Variable Account	Telecom- munications Variable Account	Multi- Strategy Variable Account	Equity Income Variable Account	Strategic Value Variable Account	Growth LT Variable Account	Focused 30 Variable Account	Mid-Cap Value Variable Account	International Value Variable Account
ASSETS
Investments:
Technology Portfolio	$42,029
Telecommunications Portfolio		$13,925
Multi-Strategy Portfolio			$375,960
Equity Income Portfolio				$694,855
Strategic Value Portfolio					$71,149
Growth LT Portfolio						$1,282,173
Focused 30 Portfolio							$47,230
Mid-Cap Value Portfolio								$606,396
International Value Portfolio									$597,747
Receivables:
Due from Pacific Life Insurance Company	100	78	821	660	376			703	860
Fund shares redeemed						167	182
Other									14
Total Assets	42,129	14,003	376,781	695,515	71,525	1,282,340	47,412	607,099	598,621
LIABILITIES
Payables:
Due to Pacific Life Insurance Company						167	182
Fund shares purchased	100	78	821	660	376			703	860
Other	2	1	22	44	4	73	3	37
Total Liabilities	102	79	843	704	380	240	185	740	860
NET ASSETS	$42,027	$13,924	$375,938	$694,811	$71,145	$1,282,100	$47,227	$606,359	$597,761
Shares Owned in each Portfolio	7,116	2,616	25,376	33,123	8,113	68,975	6,635	42,810	49,564
Cost of Investments	$43,951	$17,502	$402,491	$803,734	$76,402	$1,958,314	$52,423	$520,240	$627,796

See Notes to Financial Statements

G-2

SEPARATE ACCOUNT A

STATEMENT OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2001

(In thousands)

	Capital Opportunities Variable Account	Mid-Cap Growth Variable Account	Global Growth Variable Account	Equity Index Variable Account	Small-Cap Index Variable Account	REIT Variable Account	Inflation Managed Variable Account (1)	Managed Bond Variable Account	Money Market Variable Account
ASSETS
Investments:
Capital Opportunities Portfolio	$114,718
Mid-Cap Growth Portfolio		$81,288
Global Growth Portfolio			$19,604
Equity Index Portfolio				$970,914
Small-Cap Index Portfolio					$154,542
REIT Portfolio						$171,792
Inflation Managed Portfolio (1)							$437,789
Managed Bond Portfolio								$1,443,874
Money Market Portfolio									$1,049,096
Receivables:
Due from Pacific Life Insurance Company	359	674	167		140	44	2,197	4,788	2,947
Fund shares redeemed				905
Total Assets	115,077	81,962	19,771	971,819	154,682	171,836	439,986	1,448,662	1,052,043
LIABILITIES
Payables:
Due to Pacific Life Insurance Company				905
Fund shares purchased	359	674	167		140	44	2,197	4,788	2,947
Other	6	5	2	59	9	9	28	98	128
Total Liabilities	365	679	169	964	149	53	2,225	4,886	3,075
NET ASSETS	$114,712	$81,283	$19,602	$970,855	$154,533	$171,783	$437,761	$1,443,776	$1,048,968
Shares Owned in each Portfolio	13,597	10,012	2,305	32,864	14,994	13,425	40,800	130,918	103,983
Cost of Investments	$128,117	$84,952	$20,203	$1,029,147	$151,507	$151,807	$425,890	$1,415,481	$1,048,059

(1)  Formerly named Government Securities Variable Account and Government Securities Portfolio.

See Notes to Financial Statements

G-3

SEPARATE ACCOUNT A

STATEMENT OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2001

(In thousands)

	High Yield Bond Variable Account	Equity Variable Account	Aggressive Equity Variable Account	Large-Cap Value Variable Account	Prudential Jennison Variable Account	Value Variable Account	SP Jennison International Growth Variable Account	SP Prudential U.S.  Emerging Growth Variable Account
ASSETS
Investments:
High Yield Bond Portfolio	$284,424
Equity Portfolio		$444,555
Aggressive Equity Portfolio			$194,887
Large-Cap Value Portfolio				$775,423
Prudential Jennison Portfolio (II)					$451
Value Portfolio (II)						$472
SP Jennison International Growth Portfolio (II)							$153
SP Prudential U.S. Emerging Growth Portfolio (II)								$104
Receivables:
Due from Pacific Life Insurance Company	4,667	183	1,002	2,031	16			9
Total Assets	289,091	444,738	195,889	777,454	467	472	153	113
LIABILITIES
Payables:
Fund shares purchased	4,667	183	1,002	2,031	16			9
Other	19	27	13	40
Total Liabilities	4,686	210	1,015	2,071	16			9
NET ASSETS	$284,405	$444,528	$194,874	$775,383	$451	$472	$153	$104
Shares Owned in each Portfolio	40,251	23,138	21,246	66,079	24	26	28	15
Cost of Investments	$305,816	$602,733	$208,969	$799,472	$422	$470	$146	$95

See Notes to Financial Statements

G-4

SEPARATE ACCOUNT A

STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Blue Chip Variable Account (1)		Aggressive Growth Variable Account (1)		Emerging Markets Variable Account		Diversified Research Variable Account		Small-Cap Equity Variable Account		International Large-Cap Variable Account		I-Net Tollkeeper Variable Account		Financial Services Variable Account (1)		Health Sciences Variable Account (1)
INVESTMENT INCOME
Dividends	$262				$142		$349		$31,658		$2,616				$129
Total Investment Income	262				142		349		31,658		2,616				129
EXPENSES
Mortality and expense risk fees and administrative fees	3,101		$530		1,413		1,967		2,848		4,425		$1,018		374		$486
Charges for Stepped-Up death benefit rider	52		10		21		51		64		77		22		9		10
Charges for Premier death benefit rider	51		8		26		40		68		78		31		13		16
Total Expenses	3,204		548		1,460		2,058		2,980		4,580		1,071		396		512
Net Investment Income (Loss)	(2,942	)	(548	)	(1,318	)	(1,709	)	28,678		(1,964	)	(1,071	)	(267	)	(512	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized loss from security transactions	(2,640	)	(1,728	)	(20,125	)	(3,001	)	(60,534	)	(69,802	)	(29,163	)	(582	)	(884	)
Net unrealized appreciation (depreciation) on investments	(39,494	)	(5,114	)	7,015		446		24,323		9,725		(2,942	)	(360	)	2,630
Net Realized and Unrealized Gain (Loss) on Investments	(42,134	)	(6,842	)	(13,110	)	(2,555	)	(36,211	)	(60,077	)	(32,105	)	(942	)	1,746
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	($45,076	)	($7,390	)	($14,428	)	($4,264	)	($7,533	)	($62,041	)	($33,176	)	($1,209	)	$1,234

(1)  Operations commenced during 2001 (see Note 1 to Financial Statements).

See Notes to Financial Statements

G-5

SEPARATE ACCOUNT A

STATEMENT OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Technology Variable Account (1)		Telecom- munications Variable Account (1)		Multi- Strategy Variable Account		Equity Income Variable Account		Strategic Value Variable Account		Growth LT Variable Account		Focused 30 Variable Account		Mid-Cap Value Variable Account		International Value Variable Account
INVESTMENT INCOME
Dividends			$13		$9,352		$13,562		$223		$242,849		$26		$15,009		$16,904
Total Investment Income			13		9,352		13,562		223		242,849		26		15,009		16,904
EXPENSES
Mortality and expense risk fees and administrative fees	$263		125		4,923		11,222		776		20,634		553		6,388		9,321
Charges for Stepped-Up death benefit rider	5		2		84		198		19		416		14		121		127
Charges for Premier death benefit rider	8		3		75		196		18		406		11		128		143
Total Expenses	276		130		5,082		11,616		813		21,456		578		6,637		9,591
Net Investment Income (Loss)	(276	)	(117	)	4,270		1,946		(590	)	221,393		(552	)	8,372		7,313
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized loss from security transactions	(4,789	)	(2,324	)	(7,741	)	(83,719	)	(2,211	)	(271,753	)	(6,192	)	(8,541	)	(103,245	)
Net unrealized appreciation (depreciation) on investments	(1,922	)	(3,577	)	(5,114	)	(4,887	)	(4,849	)	(521,583	)	810		46,090		(72,650	)
Net Realized and Unrealized Gain (Loss) on Investments	(6,711	)	(5,901	)	(12,855	)	(88,606	)	(7,060	)	(793,336	)	(5,382	)	37,549		(175,895	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	($6,987	)	($6,018	)	($8,585	)	($86,660	)	($7,650	)	($571,943	)	($5,934	)	$45,921		($168,582	)

(1)  Operations commenced during 2001 (see Note 1 to Financial Statements).

See Notes to Financial Statements

G-6

SEPARATE ACCOUNT A

STATEMENT OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Capital Opportunities Variable Account (1)		Mid-Cap Growth Variable Account (1)		Global Growth Variable Account (1)		Equity Index Variable Account		Small-Cap Index Variable Account		REIT Variable Account		Inflation Managed Variable Account (2)		Managed Bond Variable Account		Money Market Variable Account
INVESTMENT INCOME
Dividends	$130						$14,576		$11,372		$5,405		$14,121		$60,254		$32,950
Total Investment Income	130						14,576		11,372		5,405		14,121		60,254		32,950
EXPENSES
Mortality and expense risk fees and administrative fees	892		$562		$156		14,522		1,797		1,927		5,546		16,550		12,795
Charges for Stepped-Up death benefit rider	16		16		4		228		39		32		73		226		197
Charges for Premier death benefit rider	15		16		3		241		48		38		83		257		247
Total Expenses	923		594		163		14,991		1,884		1,997		5,702		17,033		13,239
Net Investment Income (Loss)	(793	)	(594	)	(163	)	(415	)	9,488		3,408		8,419		43,221		19,711
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized loss from security transactions	(1,630	)	(2,935	)	(985	)	(70,624	)	(6,260	)	(1,469	)	(944	)	(3,320	)	(155	)
Net unrealized appreciation (depreciation) on investments	(13,399	)	(3,663	)	(599	)	(85,436	)	(1,139	)	6,689		1,161		20,676		100
Net Realized and Unrealized Gain (Loss) on Investments	(15,029	)	(6,598	)	(1,584	)	(156,060	)	(7,399	)	5,220		217		17,356		(55	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	($15,822	)	($7,192	)	($1,747	)	($156,475	)	$2,089		$8,628		$8,636		$60,577		$19,656

(1)  Operations commenced during 2001 (see Note 1 to Financial Statements).

(2)  Formerly named Government Securities Variable Account.

See Notes to Financial Statements

G-7

SEPARATE ACCOUNT A

STATEMENT OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	High Yield Bond Variable Account		Equity Variable Account		Aggressive Equity Variable Account		Large-Cap Value Variable Account		Prudential Jennison Variable Account (1)		Value Variable Account (1)	SP Jennison International Growth Variable Account (1)	SP Prudential U.S.  Emerging Growth Variable Account (1)
INVESTMENT INCOME
Dividends (2)	$25,442		$30,606				$21,489				$19
Total Investment Income	25,442		30,606				21,489				19
EXPENSES
Mortality and expense risk fees and administrative fees	3,654		7,078		$3,026		7,891		$1		1
Charges for Stepped-Up death benefit rider	46		156		60		158
Charges for Premier death benefit rider	58		151		66		162
Total Expenses	3,758		7,385		3,152		8,211		1		1
Net Investment Income (Loss)	21,684		23,221		(3,152	)	13,278		(1	)	18
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized loss from security transactions	(21,433	)	(123,426	)	(53,019	)	(5,341	)
Net unrealized appreciation (depreciation) on investments	(1,506	)	(43,568	)	7,277		(51,120	)	29		2	$6	$9
Net Realized and Unrealized Gain (Loss) on Investments	(22,939	)	(166,994	)	(45,742	)	(56,461	)	29		2	6	9
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	($1,255	)	($143,773	)	($48,894	)	($43,183	)	$28		$20	$6	$9

(1) Operations commenced during 2001 (see Note 1 to Financial Statements).

(2) Prudential Series Fund declared dividends on the Prudential Jennison Portfolio (Class II) during 2001. The total amounts received by the corresponding Variable Account were below $500 for the period.

See Notes to Financial Statements

G-8

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Blue Chip Variable Account (1)		Aggressive Growth Variable Account (1)		Emerging Markets Variable Account		Diversified Research Variable Account		Small-Cap Equity Variable Account		International Large-Cap Variable Account		I-Net Tollkeeper Variable Account		Financial Services Variable Account (1)		Health Sciences Variable Account (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	($2,942	)	($548	)	($1,318	)	($1,709	)	$28,678		($1,964	)	($1,071	)	($267	)	($512	)
Net realized loss from security transactions	(2,640	)	(1,728	)	(20,125	)	(3,001	)	(60,534	)	(69,802	)	(29,163	)	(582	)	(884	)
Net unrealized appreciation (depreciation) on investments	(39,494	)	(5,114	)	7,015		446		24,323		9,725		(2,942	)	(360	)	2,630
Net Increase (Decrease) in Net Assets Resulting from Operations	(45,076	)	(7,390	)	(14,428	)	(4,264	)	(7,533	)	(62,041	)	(33,176	)	(1,209	)	1,234
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	126,643		26,638		15,404		61,802		54,326		110,736		14,709		29,148		37,197
Transfers between variable accounts, net	328,388		49,718		1,965		23,290		(16,996	)	90,226		(6,609	)	24,789		33,688
Transfers—policy charges and deductions	(1,017	)	(112	)	(1,183	)	(974	)	(2,385	)	(2,361	)	(731	)	(90	)	(95	)
Transfers—surrenders	(9,487	)	(2,906	)	(4,514	)	(5,163	)	(7,963	)	(13,957	)	(3,215	)	(966	)	(1,472	)
Transfers—other	(2	)	47		109		9		91		255		(20	)	(6	)	11
Net Increase in Net Assets Derived from Policy Transactions	444,525		73,385		11,781		78,964		27,073		184,899		4,134		52,875		69,329
NET INCREASE (DECREASE) IN NET ASSETS	399,449		65,995		(2,647	)	74,700		19,540		122,858		(29,042	)	51,666		70,563
NET ASSETS
Beginning of Year					96,362		112,982		209,122		251,589		89,897
End of Year	$399,449		$65,995		$93,715		$187,682		$228,662		$374,447		$60,855		$51,666		$70,563

(1) Operations commenced during 2001 (see Note 1 to Financial Statements).

See Notes to Financial Statements

G-9

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Technology Variable Account (1)		Telecom- munications Variable Account (1)		Multi- Strategy Variable Account		Equity Income Variable Account		Strategic Value Variable Account		Growth LT Variable Account		Focused 30 Variable Account		Mid-Cap Value Variable Account		International Value Variable Account
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	($276	)	($117	)	$4,270		$1,946		($590	)	$221,393		($552	)	$8,372		$7,313
Net realized loss from security transactions	(4,789	)	(2,324	)	(7,741	)	(83,719	)	(2,211	)	(271,753	)	(6,192	)	(8,541	)	(103,245	)
Net unrealized appreciation (depreciation) on investments	(1,922	)	(3,577	)	(5,114	)	(4,887	)	(4,849	)	(521,583	)	810		46,090		(72,650	)
Net Increase (Decrease) in Net Assets Resulting from Operations	(6,987	)	(6,018	)	(8,585	)	(86,660	)	(7,650	)	(571,943	)	(5,934	)	45,921		(168,582	)
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	22,177		9,252		71,635		147,432		31,817		232,773		18,942		146,410		131,685
Transfers between variable accounts, net	27,581		12,235		1,883		(328,506	)	18,658		(138,161	)	(557	)	141,378		(121,308	)
Transfers—policy charges and deductions	(57	)	(17	)	(5,880	)	(12,525	)	(411	)	(23,484	)	(219	)	(3,824	)	(8,338	)
Transfers—surrenders	(690	)	(1,517	)	(18,536	)	(39,204	)	(2,316	)	(73,058	)	(1,662	)	(22,468	)	(32,666	)
Transfers—other	3		(11	)	27		91		(2	)	306		9		19		475
Net Increase (Decrease) in Net Assets Derived from Policy Transactions	49,014		19,942		49,129		(232,712	)	47,746		(1,624	)	16,513		261,515		(30,152	)
NET INCREASE (DECREASE) IN NET ASSETS	42,027		13,924		40,544		(319,372	)	40,096		(573,567	)	10,579		307,436		(198,734	)
NET ASSETS
Beginning of Year					335,394		1,014,183		31,049		1,855,667		36,648		298,923		796,495
End of Year	$42,027		$13,924		$375,938		$694,811		$71,145		$1,282,100		$47,227		$606,359		$597,761

(1) Operations commenced during 2001 (see Note 1 to Financial Statements).

See Notes to Financial Statements

G-10

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	Capital Opportunities Variable Account (1)		Mid-Cap Growth Variable Account (1)		Global Growth Variable Account (1)		Equity Index Variable Account		Small-Cap Index Variable Account		REIT Variable Account		Inflation Managed Variable Account (2)		Managed Bond Variable Account		Money Market Variable Account
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	($793	)	($594	)	($163	)	($415	)	$9,488		$3,408		$8,419		$43,221		$19,711
Net realized loss from security transactions	(1,630	)	(2,935	)	(985	)	(70,624	)	(6,260	)	(1,469	)	(944	)	(3,320	)	(155	)
Net unrealized appreciation (depreciation) on investments	(13,399	)	(3,663	)	(599	)	(85,436	)	(1,139	)	6,689		1,161		20,676		100
Net Increase (Decrease) in Net Assets Resulting from Operations	(15,822	)	(7,192	)	(1,747	)	(156,475	)	2,089		8,628		8,636		60,577		19,656
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	42,609		51,246		13,136		179,665		24,406		50,492		154,092		367,375		747,154
Transfers between variable accounts, net	90,692		39,044		8,569		(199,456	)	(3,252	)	4,516		(52,901	)	231,631		(199,686	)
Transfers—policy charges and deductions	(236	)	(262	)	(36	)	(17,977	)	(1,555	)	(558	)	(4,859	)	(16,857	)	(26,933	)
Transfers—surrenders	(2,541	)	(1,588	)	(297	)	(53,182	)	(5,563	)	(7,385	)	(23,610	)	(67,520	)	(219,066	)
Transfers—other	10		35		(23	)	170		25		3		8		(31	)	60
Net Increase (Decrease) in Net Assets Derived from Policy Transactions	130,534		88,475		21,349		(90,780	)	14,061		47,068		72,730		514,598		301,529
NET INCREASE (DECREASE) IN NET ASSETS	114,712		81,283		19,602		(247,255	)	16,150		55,696		81,366		575,175		321,185
NET ASSETS
Beginning of Year							1,218,110		138,383		116,087		356,395		868,601		727,783
End of Year	$114,712		$81,283		$19,602		$970,855		$154,533		$171,783		$437,761		$1,443,776		$1,048,968

(1) Operations commenced during 2001 (see Note 1 to Financial Statements).

(2) Formerly named Government Securities Variable Account.

See Notes to Financial Statements

G-11

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2001

(In thousands)

	High Yield Bond Variable Account		Equity Variable Account		Aggressive Equity Variable Account		Large-Cap Value Variable Account		Prudential Jennison Variable Account (1)		Value Variable Account (1)	SP Jennison International Growth Variable Account (1)	SP Prudential U.S.  Emerging Growth Variable Account (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$21,684		$23,221		($3,152	)	$13,278		($1	)	$18
Net realized loss from security transactions	(21,433	)	(123,426	)	(53,019	)	(5,341	)
Net unrealized appreciation (depreciation) on investments	(1,506	)	(43,568	)	7,277		(51,120	)	29		2	$6	$9
Net Increase (Decrease) in Net Assets Resulting from Operations	(1,255	)	(143,773	)	(48,894	)	(43,183	)	28		20	6	9
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	70,416		73,660		27,772		188,637		422		398	147	95
Transfers between variable accounts, net	18,590		(81,429	)	(45,428	)	368,482		3		54
Transfers—policy charges and deductions	(3,604	)	(7,598	)	(4,193	)	(4,914	)
Transfers—surrenders	(16,047	)	(25,541	)	(11,541	)	(24,444	)	(1	)
Transfers—other	(1	)	110		11		50		(1	)
Net Increase (Decrease) in Net Assets Derived from Policy Transactions	69,354		(40,798	)	(33,379	)	527,811		423		452	147	95
NET INCREASE (DECREASE) IN NET ASSETS	68,099		(184,571	)	(82,273	)	484,628		451		472	153	104
NET ASSETS
Beginning of Year	216,306		629,099		277,147		290,755
End of Year	$284,405		$444,528		$194,874		$775,383		$451		$472	$153	$104

(1) Operations commenced during 2001 (see Note 1 to Financial Statements).

See Notes to Financial Statements

G-12

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2000

(In thousands)

	Emerging Markets Variable Account		Diversified Research Variable Account (1)		Small-Cap Equity Variable Account		International Large-Cap Variable Account (1)		I-Net Tollkeeper Variable Account (1)		Multi- Strategy Variable Account		Equity Income Variable Account		Strategic Value Variable Account (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	($1,488	)	($413	)	$9,950		($1,707	)	($759	)	$26,805		$70,684		($38	)
Net realized loss from security transactions	(12,385	)	(676	)	(30,810	)	(7,952	)	(1,514	)	(2,634	)	(3,115	)	(200	)
Net unrealized appreciation (depreciation) on investments	(34,422	)	936		(42,793	)	(27,789	)	(36,053	)	(26,393	)	(148,891	)	(404	)
Net Decrease in Net Assets Resulting from Operations	(48,295	)	(153	)	(63,653	)	(37,448	)	(38,326	)	(2,222	)	(81,322	)	(642	)
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	57,970		54,538		136,777		119,985		55,727		85,669		306,089		7,614
Transfers between variable accounts, net	1,253		61,278		110,716		174,690		74,309		(12,978	)	89,807		24,281
Transfers—policy charges and deductions	(1,593	)	(492	)	(1,655	)	(939	)	(288	)	(5,217	)	(11,970	)	(10	)
Transfers—surrenders	(4,039	)	(2,190	)	(6,495	)	(4,831	)	(1,809	)	(14,484	)	(37,665	)	(197	)
Transfers—other	65		1		(33	)	132		284		(11	)	106		3
Net Increase in Net Assets Derived from Policy Transactions	53,656		113,135		239,310		289,037		128,223		52,979		346,367		31,691
NET INCREASE IN NET ASSETS	5,361		112,982		175,657		251,589		89,897		50,757		265,045		31,049
NET ASSETS
Beginning of Year	91,001				33,465						284,637		749,138
End of Year	$96,362		$112,982		$209,122		$251,589		$89,897		$335,394		$1,014,183		$31,049

(1) Operations commenced on January 3, 2000 for the Diversified Research and International Large-Cap Variable Accounts, May 1, 2000 for the I-Net Tollkeeper Variable Account,

and October 2, 2000 for the Strategic Value Variable Account.

See Notes to Financial Statements

G-13

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2000

(In thousands)

	Growth LT Variable Account		Focused 30 Variable Account (1)		Mid-Cap Value Variable Account		International Value Variable Account		Equity Index Variable Account		Small-Cap Index Variable Account		REIT Variable Account		Inflation Managed Variable Account (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income	$273,389		$61		$167		$11,070		$7,016		$311		$2,600		$12,169
Net realized loss from security transactions	(99,958	)	(269	)	(500	)	(8,961	)	(6,870	)	(5,836	)	(334	)	(2,945	)
Net unrealized appreciation (depreciation) on investments	(724,635	)	(6,003	)	38,689		(75,430	)	(132,815	)	(5,390	)	15,127		19,592
Net Increase (Decrease) in Net Assets Resulting from Operations	(551,204	)	(6,211	)	38,356		(73,321	)	(132,669	)	(10,915	)	17,393		28,816
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	824,644		10,216		96,803		281,881		382,156		63,784		36,396		109,580
Transfers between variable accounts, net	184,393		33,075		98,084		(31,605	)	98,830		10,008		35,032		6,427
Transfers—policy charges and deductions	(22,972	)	(13	)	(1,286	)	(7,396	)	(14,756	)	(1,220	)	(443	)	(4,155	)
Transfers—surrenders	(83,575	)	(436	)	(5,700	)	(35,697	)	(50,376	)	(4,669	)	(2,769	)	(14,046	)
Transfers—other	682		17		(56	)	281		101		13		(12	)	(10	)
Net Increase in Net Assets Derived from Policy Transactions	903,172		42,859		187,845		207,464		415,955		67,916		68,204		97,796
NET INCREASE IN NET ASSETS	351,968		36,648		226,201		134,143		283,286		57,001		85,597		126,612
NET ASSETS
Beginning of Year	1,503,699				72,722		662,352		934,824		81,382		30,490		229,783
End of Year	$1,855,667		$36,648		$298,923		$796,495		$1,218,110		$138,383		$116,087		$356,395

(1) Operations commenced on October 2, 2000.

(2) Formerly named Government Securities Variable Account.

See Notes to Financial Statements

G-14

SEPARATE ACCOUNT A

STATEMENT OF CHANGES IN NET ASSETS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2000

(In thousands)

	Managed Bond Variable Account		Money Market Variable Account		High Yield Bond Variable Account		Equity Variable Account		Aggressive Equity Variable Account		Large-Cap Value Variable Account
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income	$32,931		$25,653		$16,396		$33,164		$4,814		$228
Net realized loss from security transactions	(3,108	)	(967	)	(14,047	)	(14,124	)	(8,340	)	(190	)
Net unrealized appreciation (depreciation) on investments	36,853		484		(12,136	)	(228,837	)	(63,262	)	24,316
Net Increase (Decrease) in Net Assets Resulting from Operations	66,676		25,170		(9,787	)	(209,797	)	(66,788	)	24,354
INCREASE (DECREASE) IN NET ASSETS FROM POLICY TRANSACTIONS
Transfer of net premiums	192,162		591,373		58,956		304,388		122,117		97,824
Transfers between variable accounts, net	146,999		(347,424	)	296		51,719		(5,888	)	48,904
Transfers—policy charges and deductions	(9,069	)	(18,715	)	(2,510	)	(8,101	)	(2,089	)	(1,798	)
Transfers—surrenders	(31,792	)	(57,023	)	(10,418	)	(23,882	)	(10,125	)	(7,203	)
Transfers—other	(17	)	(61	)	(1	)	54		63		(66	)
Net Increase in Net Assets Derived from Policy Transactions	298,283		168,150		46,323		324,178		104,078		137,661
NET INCREASE IN NET ASSETS	364,959		193,320		36,536		114,381		37,290		162,015
NET ASSETS
Beginning of Year	503,642		534,463		179,770		514,718		239,857		128,740
End of Year	$868,601		$727,783		$216,306		$629,099		$277,147		$290,755

See Notes to Financial Statements

G-15

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS

1.  SIGNIFICANT ACCOUNTING POLICIES

The Separate Account A (the “Separate Account”) is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and as of December 31, 2001 is comprised of thirty-five subaccounts called Variable Accounts: the Blue Chip, Aggressive Growth, Emerging Markets, Diversified Research, Small-Cap Equity, International Large-Cap, I-Net Tollkeeper, Financial Services, Health Sciences, Technology, Telecommunications, Multi-Strategy, Equity Income, Strategic Value, Growth LT, Focused 30, Mid-Cap Value, International Value, Capital Opportunities, Mid-Cap Growth, Global Growth, Equity Index, Small-Cap Index, REIT, Inflation Managed (formerly Government Securities), Managed Bond, Money Market, High Yield Bond, Equity, Aggressive Equity, Large-Cap Value, Prudential Jennison, Value, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Variable Accounts. The assets in each of the first thirty-one Variable Accounts are invested in shares of the corresponding portfolios of the Pacific Select Fund and the assets of the last four Variable Accounts are invested in the Class II shares of the corresponding portfolios of the Prudential Series Fund, Inc. (collectively, the “Funds”). Each portfolio pursues different investment objectives and policies. The financial statements of the Funds, including the schedules of investments, are either included in Sections B through E of this report or provided separately and should be read in conjunction with the Separate Account’s financial statements.

The Separate Account organized and registered with the Securities and Exchange Commission thirteen new Variable Accounts that began operations in 2001: The Blue Chip, Aggressive Growth, Financial Services, Health Sciences, Technology, Telecommunications, Capital Opportunities, Mid-Cap Growth, Global Growth, Prudential Jennison, Value, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Variable Accounts. The first nine new Variable Accounts commenced operations on January 2, 2001 and the last four new Variable Accounts commenced operations on September 6, 2001.

On September 22, 2000, the net assets of the Pacific Select Fund’s Bond and Income Portfolio, the underlying portfolio for the Bond and Income Variable Account, were transferred to the Pacific Select Fund’s Managed Bond Portfolio in exchange for shares of the Managed Bond Portfolio (the “reorganization”). In connection with the reorganization, a total of 8,935,784 outstanding accumulation units (valued at $105,092,244) of the Bond and Income Variable Account were exchanged for 8,571,349 accumulation units with equal value of the Managed Bond Variable Account.

The Separate Account was established by Pacific Life Insurance Company (“Pacific Life”) on September 7, 1994 and commenced operations on January 2, 1996. Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the other assets and liabilities of Pacific Life. The assets of the Separate Account will not be charged with any liabilities arising out of any other business conducted by Pacific Life, but the obligations of the Separate Account, including benefits related to variable annuities, are obligations of Pacific Life.

The Separate Account held by Pacific Life represents funds from individual flexible premium deferred variable annuity contracts (the “Contracts”).

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for investment companies which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates.

A.  Valuation of Investments

Investments in shares of the Funds are valued at the reported net asset values of the respective portfolios. Valuation of securities held by the Funds is discussed in the notes to their financial statements.

B.  Security Transactions and Investment Income

Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date.

C.  Federal Income Taxes

The operations of the Separate Account will be reported on the Federal income tax return of Pacific Life, which is taxed as a life insurance company under the provisions of the Tax Reform Act of 1986. Under current tax law, no Federal income taxes are expected to be paid by Pacific Life with respect to the operations of the Separate Account.

2.  DIVIDENDS

During 2001, the Funds declared dividends for each portfolio, except for the Aggressive Growth, I-Net Tollkeeper, Health Sciences, Technology, Mid-Cap Growth, Global Growth, Aggressive Equity, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Portfolios invested in by the Separate Account. The amounts accrued by the Separate Account for its share of the dividends were reinvested in additional full and fractional shares of the related portfolio.

3.  CHARGES AND EXPENSES

Contracts funded by the Separate Account currently being sold include the Pacific Portfolios, Pacific One, Pacific One Select, Pacific Value, Pacific Innovations, Pacific Innovations Select, and Pacific Odyssey. Pacific One Select, Pacific Value, Pacific Innovations, Pacific Innovations Select, and Pacific Odyssey Contracts have three different death benefit options: the Standard Death Benefit, the Stepped-Up Death Benefit Rider, and the Premier Death Benefit Rider. These death benefit riders are not available to owners of Pacific Portfolios and Pacific One Contracts. Pacific Life charges the Separate Account daily for mortality and expense (M&E) risks assumed, administrative costs incurred in operating the

H-1

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

Separate Account and issuing and administering the Contracts, and additional death benefit rider charges for Pacific One Select, Pacific Value, Pacific Innovations, Pacific Innovations Select, and Pacific Odyssey Contract Owners who purchased the Stepped-Up Death Benefit Rider or the Premier Death Benefit Rider. These charges are assessed daily at the following annual rates on the average daily net assets of each Variable Account:

Pacific Portfolio, Pacific One, Pacific Value and Pacific Innovations Contracts	Standard Death Benefit	With Stepped- Up Death Benefit Rider	With Premier Death Benefit Rider
M&E Risk Charge	1.25%	1.25%	1.25%
Administrative Fee	0.15%	0.15%	0.15%
Death Benefit Rider Charge	None	0.20%	0.35%
Total Annual Expenses	1.40%	1.60%	1.75%
Pacific Innovations Select and Pacific One Select Contracts
M&E Risk Charge	1.40%	1.40%	1.40%
Administrative Fee	0.25%	0.25%	0.25%
Death Benefit Rider Charge	None	0.20%	0.35%
Total Annual Expenses	1.65%	1.85%	2.00%
Pacific Odyssey Contracts
M&E Risk Charge	0.15%	0.15%	0.15%
Administrative Fee	0.25%	0.25%	0.25%
Death Benefit Rider Charge	None	0.20%	0.35%
Total Annual Expenses	0.40%	0.60%	0.75%

Under the Contracts, Pacific Life makes certain deductions from the net assets of each Variable Account for contract maintenance, any state premium taxes, and any surrender charges. The operating expenses of the Separate Account are paid by Pacific Life.

4.  RELATED PARTY AGREEMENT

Pacific Select Distributors, Inc., a wholly-owned subsidiary of Pacific Life, serves as principal underwriter of variable annuity contracts funded by interests in the Separate Account, without remuneration from the Separate Account.

5.  SEPARATE ACCOUNT’S COST OF INVESTMENTS IN THE FUNDS’ SHARES

The investment in the Funds’ shares are carried at identified cost, which represents the amount available for investment (including reinvested distributions of net investment income and realized gains) in such shares after deduction of mortality and expense risk, administrative charges, and additional death benefit rider charges, if any (M&E). A reconciliation of total cost and market value of the Separate Account’s investments in the Funds as of December 31, 2001 were as follows (amounts in thousands):

	Variable Accounts
	Blue Chip (1)		Aggressive Growth (1)		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap
Total cost of investments at beginning of year					$109,451		$112,051		$248,753		$279,392
Add:  Total net proceeds from policy and M&E transactions	$449,233		$87,392		106,861		115,417		179,187		653,689
Reinvested distributions from the Funds:
(a) Net investment income	262				142		349		1,256		2,616
(b) Net realized gain									30,402
Sub-Total	449,495		87,392		216,454		227,817		459,598		935,697
Less:  Cost of investments disposed during the year	10,532		16,279		116,666		41,506		215,626		543,168
Total cost of investments at end of year	438,963		71,113		99,788		186,311		243,972		392,529
Add:  Unrealized appreciation (depreciation)	(39,494	)	(5,115	)	(6,068	)	1,382		(15,295	)	(18,064	)
Total market value of investments at end of year	$399,469		$65,998		$93,720		187,693		$228,677		$374,465
	I-Net Tollkeeper		Financial Services (1)		Health Sciences (1)		Tech- nology (1)		Telecom- munications (1)		Multi- Strategy
Total cost of investments at beginning of year	$125,955										$356,829
Add:  Total net proceeds from policy and M&E transactions	34,017		$57,830		$83,626		$56,792		$25,982		89,829
Reinvested distributions from the Funds:
(a) Net investment income			129						13		8,719
(b) Net realized gain											633
Sub-Total	159,972		57,959		83,626		56,792		25,995		456,010
Less:  Cost of investments disposed during the year	60,118		5,930		15,689		12,841		8,493		53,519
Total cost of investments at end of year	99,854		52,029		67,937		43,951		17,502		402,491
Add:  Unrealized appreciation (depreciation)	(38,996	)	(360	)	2,630		(1,922	)	(3,577	)	(26,531	)
Total market value of investments at end of year	$60,858		$51,669		$70,567		$42,029		$13,925		$375,960

(1) Operations commenced during 2001 (See Note 1 to Financial Statements).

H-2

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	Variable Accounts
	Equity Income		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value
Total cost of investments at beginning of year	$1,118,231		$31,454		$2,010,334		$42,653		$258,875		$753,932
Add:  Total net proceeds from policy and M&E transactions	135,138		61,966		340,155		28,939		362,498		2,082,796
Reinvested distributions from the Funds:
(a) Net investment income	5,196		223		15,411		26		3,818		6,346
(b) Net realized gain	8,366				227,438				11,191		10,558
Sub-Total	1,266,931		93,643		2,593,338		71,618		636,382		2,853,632
Less:  Cost of investments disposed during the year	463,197		17,241		635,024		19,195		116,142		2,225,836
Total cost of investments at end of year	803,734		76,402		1,958,314		52,423		520,240		627,796
Add:  Unrealized appreciation (depreciation)	(108,879	)	(5,253	)	(676,141	)	(5,193	)	86,156		(30,049	)
Total market value of investments at end of year	$694,855		$71,149		$1,282,173		$47,230		$606,396		$597,747
	Capital Opportuni- ties (1)		Mid-Cap Growth (1)		Global Growth (1)		Equity Index		Small-Cap Index		REIT
Total cost of investments at beginning of year							$1,190,976		$134,217		$102,797
Add:  Total net proceeds from policy and M&E transactions	$135,483		$96,678		$25,591		263,536		95,201		94,893
Reinvested distributions from the Funds:
(a) Net investment income	130						10,856		1,256		4,943
(b) Net realized gain							3,720		10,116		462
Sub-Total	135,613		96,678		25,591		1,469,088		240,790		203,095
Less:  Cost of investments disposed during the year	7,496		11,726		5,388		439,941		89,283		51,288
Total cost of investments at end of year	128,117		84,952		20,203		1,029,147		151,507		151,807
Add:  Unrealized appreciation (depreciation)	(13,399	)	(3,664	)	(599	)	(58,233	)	3,035		19,985
Total market value of investments at end of year	$114,718		$81,288		$19,604		$970,914		$154,542		$171,792
	Inflation Managed (2)		Managed Bond		Money Market		High Yield Bond		Equity		Aggressive Equity
Total cost of investments at beginning of year	$345,677		$860,946		$726,885		$236,206		$743,746		$298,525
Add:  Total net proceeds from policy and M&E transactions	287,482		647,425		3,515,647		263,010		143,759		124,773
Reinvested distributions from the Funds:
(a) Net investment income	14,121		60,254		32,950		25,442		225
(b) Net realized gain									30,381
Sub-Total	647,280		1,568,625		4,275,482		524,658		918,111		423,298
Less:  Cost of investments disposed during the year	221,390		153,144		3,227,423		218,842		315,378		214,329
Total cost of investments at end of year	425,890		1,415,481		1,048,059		305,816		602,733		208,969
Add:  Unrealized appreciation (depreciation)	11,899		28,393		1,037		(21,392	)	(158,178	)	(14,082	)
Total market value of investments at end of year	$437,789		$1,443,874		$1,049,096		$284,424		$444,555		$194,887
	Large-Cap Value		Prudential Jennison (1)		Value (1)		SP Jennison International Growth (1)		SP Prudential U.S. Emerging Growth (1)
Total cost of investments at beginning of year	$263,698
Add:  Total net proceeds from policy and M&E transactions	568,995		$425		$452		$147		$95
Reinvested distributions from the Funds:
(a) Net investment income	4,883				19
(b) Net realized gain	16,606
Sub-Total	854,182		425		471		147		95
Less:  Cost of investments disposed during the year	54,710		3		1		1
Total cost of investments at end of year	799,472		422		470		146		95
Add:  Unrealized appreciation (depreciation)	(24,049	)	29		2		7		9
Total market value of investments at end of year	$775,423		$451		$472		$153		$104

(1) Operations commenced during 2001 (See Note 1 to Financial Statements).

(2) Inflation Managed Variable Account was formerly named Government Securities Variable Account.

H-3

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS

    Selected accumulation unit value (AUV), total units outstanding, total returns, total net assets, and ratios of investment income and expenses to average daily net assets data for the year ended December 31, 2001 were as follows:

	Contracts with Standard Death Benefit
	Date Variable Account Commenced Operations or Contract First Sold During 2001				Number of Units Outstanding at End of Year			Total Returns (1)
Variable Accounts	Pacific Portfolios and Pacific One Contracts	Pacific Value Contracts	Pacific Innovations Contracts	AUV at End of Year	Pacific Portfolios and Pacific One Contracts	Pacific Value Contracts	Pacific Innovations Contracts	Pacific Portfolios and Pacific One Contracts	Pacific Value Contracts	Pacific Innovations Contracts
Blue Chip	01/02/01	01/02/01	01/05/01	$8.03	19,099,383	13,283,021	1,166,467	(19.71%)	(19.71%)	(21.55%)
Aggressive Growth	01/02/01	01/03/01	01/04/01	7.91	2,897,951	2,289,419	203,178	(20.90%)	(24.82%)	(22.71%)
Emerging Markets				5.79	7,852,984	4,348,020	295,240	(9.96%)	(9.96%)	(9.96%)
Diversified Research				10.42	6,018,484	4,435,328	663,788	(4.10%)	(4.10%)	(4.10%)
Small-Cap Equity				16.92	4,724,501	4,150,519	300,104	(3.91%)	(3.91%)	(3.91%)
International Large-Cap				6.24	24,033,715	16,587,323	1,843,777	(19.44%)	(19.44%)	(19.44%)
I-Net Tollkeeper				4.38	4,719,596	4,008,505	642,382	(34.82%)	(34.82%)	(34.82%)
Financial Services	01/02/01	01/02/01	01/09/01	9.14	1,422,507	1,267,959	117,091	(8.58%)	(8.58%)	(5.28%)
Health Sciences	01/02/01	01/02/01	01/10/01	9.10	2,092,867	1,706,195	142,534	(8.98%)	(8.98%)	0.67%
Technology	01/02/01	01/02/01	01/03/01	5.82	2,183,699	1,559,337	144,194	(41.77%)	(41.77%)	(43.35%)
Telecommunications	01/02/01	01/02/01	01/03/01	5.25	685,717	636,851	54,067	(47.47%)	(47.47%)	(52.47%)
Multi-Strategy				15.50	12,389,066	5,446,273	316,790	(2.54%)	(2.54%)	(2.54%)
Equity Income				16.71	20,507,327	9,854,280	486,163	(10.15%)	(10.15%)	(10.15%)
Strategic Value				8.66	2,178,943	2,383,079	238,806	(11.13%)	(11.13%)	(11.13%)
Growth LT				20.78	28,200,043	16,503,806	964,288	(30.54%)	(30.54%)	(30.54%)
Focused 30				7.03	1,899,802	1,948,350	201,749	(14.57%)	(14.57%)	(14.57%)
Mid-Cap Value				14.28	16,063,739	12,316,098	930,516	11.72%	11.72%	11.72%
International Value				10.83	27,830,940	13,888,425	913,569	(22.97%)	(22.97%)	(22.97%)
Capital Opportunities	01/02/01	01/03/01	01/04/01	8.33	4,987,959	3,770,566	369,280	(16.72%)	(21.36%)	(21.27%)
Mid-Cap Growth	01/02/01	01/02/01	01/04/01	8.01	2,269,327	2,320,327	172,014	(19.95%)	(19.95%)	(21.86%)
Global Growth	01/02/01	01/11/01	01/04/01	8.38	458,883	658,850	55,910	(16.16%)	(19.07%)	(18.99%)
Equity Index				18.32	26,521,065	12,841,330	963,695	(13.38%)	(13.38%)	(13.38%)
Small-Cap Index				11.22	4,911,139	4,456,058	197,957	0.31%	0.31%	0.31%
REIT				13.82	4,618,797	3,701,943	303,119	7.03%	7.03%	7.03%
Inflation Managed (2)				12.94	13,897,811	9,495,198	703,795	2.81%	2.81%	2.81%
Managed Bond				13.50	50,452,819	26,140,032	1,853,547	5.83%	5.83%	5.83%
Money Market				12.39	31,599,970	23,184,659	1,082,193	2.41%	2.41%	2.41%
High Yield Bond				11.51	11,510,008	6,627,440	310,057	(0.07%)	(0.07%)	(0.07%)
Equity				14.66	13,689,954	7,460,021	543,137	(22.86%)	(22.86%)	(22.86%)
Aggressive Equity				9.73	9,654,622	4,738,022	248,174	(18.40%)	(18.40%)	(18.40%)
Large-Cap Value				11.87	25,206,629	18,293,597	1,388,991	(4.99%)	(4.99%)	(4.99%)
Prudential Jennison		09/06/01		10.84		5,276			8.43%
Value		09/06/01		10.33		10,260			3.31%
SP Jennison    International Growth		09/06/01		10.03		8,520			0.29%
SP Prudential    U.S. Emerging Growth		09/06/01		10.72		2,791			7.19%

See explanation of references on H-9

H-4

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS (Continued)

	Contracts with Standard Death Benefit
	Date Variable Account Commenced Operations or Contract First Sold During 2001			AUV at End of Year for		Number of Units Outstanding at End of Year			Total Returns (1)
Variable Accounts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select & Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts
Blue Chip	04/05/01	04/10/01	07/02/01	$9.64	$9.02	3,907,567	579,802	722	(4.20%)	(6.22%)	(9.77%)
Aggressive Growth	04/03/01	04/19/01	07/02/01	9.74	8.70	641,768	118,682	168	1.81%	(11.10%)	(12.96%)
Emerging Markets	04/03/01	04/11/01	07/02/01	10.22	9.62	211,483	35,247	87	4.57%	(0.44%)	(3.80%)
Diversified Research	04/05/01	04/05/01	12/24/01	10.56	9.77	1,497,959	316,997	2,206	5.09%	5.09%	1.51%
Small-Cap Equity	04/02/01	04/03/01	09/17/01	11.29	9.54	918,780	191,163	295	12.92%	18.24%	18.76%
International Large-Cap	04/02/01	04/03/01	07/02/01	9.23	9.31	2,663,769	593,935	9,481	(7.66%)	(7.05%)	(6.90%)
I-Net Tollkeeper	04/03/01	04/05/01		9.25	7.71	177,211	16,732		0.91%	(7.73%)
Financial Services	04/03/01	04/05/01		9.97	9.35	823,284	95,626		2.44%	0.89%
Health Sciences	04/03/01	04/12/01	11/28/01	11.42	9.92	928,216	119,438	496	17.41%	7.32%	(1.63%)
Technology	04/05/01	04/05/01	09/17/01	9.78	8.27	625,538	45,727	See (3)	(3.42%)	(3.42%)	23.48%
Telecommunications	04/05/01	04/23/01		7.50	7.52	286,722	26,788		(24.57%)	(35.18%)
Multi-Strategy	04/06/01	04/27/01		10.32	9.86	1,473,184	304,069		3.60%	(1.73%)
Equity Income	04/02/01	04/03/01	11/28/01	10.16	9.37	1,984,450	334,966	545	1.55%	5.49%	2.24%
Strategic Value	04/02/01	04/27/01		9.43	9.21	703,659	83,799		(5.67%)	(11.33%)
Growth LT	04/02/01	04/03/01	07/02/01	9.44	8.46	3,483,870	527,454	1,361	(5.55%)	(0.37%)	(15.40%)
Focused 30	04/02/01	04/23/01	09/17/01	11.14	10.54	384,534	29,921	See (3)	11.38%	5.29%	20.22%
Mid-Cap Value	04/03/01	04/05/01	07/02/01	11.55	10.27	3,095,066	565,876	718	19.53%	15.33%	2.68%
International Value	04/02/01	04/03/01	07/02/01	9.04	9.10	2,504,993	428,924	1,023	(9.59%)	(8.53%)	(9.04%)
Capital Opportunities	04/05/01	04/12/01	07/02/01	9.36	8.79	1,163,015	149,055	1,401	(6.67%)	(11.15%)	(12.08%)
Mid-Cap Growth	04/02/01	04/27/01	09/17/01	10.62	8.49	1,200,646	168,874	See (3)	6.23%	(19.07%)	15.61%
Global Growth	04/05/01	05/03/01		9.55	9.07	355,428	32,037		(5.43%)	(13.13%)
Equity Index	04/02/01	04/03/01	09/07/01	9.97	9.32	3,326,399	581,320	27,684	(0.26%)	3.30%	5.98%
Small-Cap Index	04/09/01	04/05/01	11/28/01	11.07	9.86	603,720	93,843	973	10.16%	9.43%	7.68%
REIT	04/04/01	04/05/01	07/02/01	10.94	10.11	1,127,914	212,856	7,606	10.76%	9.55%	1.13%
Inflation Managed (2)	04/02/01	04/03/01	09/07/01	10.06	10.11	3,532,994	942,126	5,439	0.60%	0.51%	(0.18%)
Managed Bond	04/02/01	04/03/01	09/07/01	10.30	10.43	9,330,375	2,044,157	10,790	2.98%	2.88%	0.03%
Money Market	04/02/01	04/03/01	09/07/01	10.12	10.12	8,675,282	3,681,201	180,016	1.19%	1.18%	0.61%
High Yield Bond	04/02/01	04/03/01	09/07/01	9.59	9.87	1,862,023	376,053	795	(4.13%)	(3.09%)	(1.23%)
Equity	04/04/01	04/11/01		10.18	9.08	954,219	120,532		7.31%	(2.93%)
Aggressive Equity	04/02/01	04/05/01	09/17/01	11.01	9.09	293,748	47,256	See (3)	10.14%	9.62%	16.65%
Large-Cap Value	04/04/01	04/05/01	07/02/01	9.94	9.61	5,006,090	924,380	4,108	2.99%	(1.18%)	(3.91%)

See explanation of references on H-9

H-5

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS (Continued)

	Contracts with Stepped-Up Death Benefit							Contracts with Premier Death Benefit
	Date Variable Accounts Commenced Operations or Contract First Sold During 2001			Number of Units Outstanding at End of Year		Total Returns (1)		Date Variable Accounts Commenced Operations or Contract First Sold During 2001			Number of Units Outstanding at End of Year		Total Returns (1)
Variable Accounts	Pacific Value Contracts	Pacific Innovations Contracts	AUV at End of Year	Pacific Value Contracts	Pacific Innovations Contracts	Pacific Value Contracts	Pacific Innovations Contracts	Pacific Value Contracts	Pacific Innovations Contracts	AUV at End of Year	Pacific Value Contracts	Pacific Innovations Contracts	Pacific Value Contracts	Pacific Innovations Contracts
Blue Chip	01/02/01	01/02/01	$8.01	4,218,986	272,994	(19.87%)	(19.87%)	01/02/01	01/10/01	$8.00	2,498,852	112,661	(19.99%)	(22.36%)
Aggressive Growth	01/02/01	01/29/01	7.89	791,379	55,731	(21.06%)	(27.19%)	01/02/01	02/08/01	7.88	395,785	14,934	(21.18%)	(24.16%)
Emerging Markets			5.76	1,712,155	85,950	(10.14%)	(10.14%)			5.73	1,137,395	27,845	(10.28%)	(10.28%)
Diversified Research			10.38	2,503,111	143,436	(4.30%)	(4.30%)			10.35	1,037,855	100,919	(4.44%)	(4.44%)
Small-Cap Equity			16.81	1,793,887	111,966	(4.10%)	(4.10%)			16.74	1,052,182	85,623	(4.25%)	(4.25%)
International Large-Cap			6.21	5,788,862	490,702	(19.60%)	(19.60%)			6.19	3,240,232	327,597	(19.72%)	(19.72%)
I-Net Tollkeeper			4.37	1,809,475	194,993	(34.95%)	(34.95%)			4.35	1,757,030	103,915	(35.05%)	(35.05%)
Financial Services	01/02/01	01/19/01	9.12	586,542	33,833	(8.76%)	(3.73%)	01/02/01	01/23/01	9.11	417,466	4,358	(8.90%)	(7.07%)
Health Sciences	01/02/01	01/04/01	9.08	695,248	34,324	(9.16%)	(1.75%)	01/02/01	01/23/01	9.07	524,438	5,099	(9.30%)	(0.31%)
Technology	01/02/01	01/19/01	5.81	496,752	27,093	(41.88%)	(47.68%)	01/02/01	01/30/01	5.80	401,762	12,078	(41.97%)	(48.11%)
Telecommunications	01/02/01	01/31/01	5.24	258,369	20,017	(47.57%)	(55.52%)	01/02/01	01/30/01	5.23	167,184	2,457	(47.65%)	(56.34%)
Multi-Strategy			15.41	2,813,063	85,642	(2.73%)	(2.73%)			15.34	1,371,497	43,025	(2.88%)	(2.88%)
Equity Income			16.61	5,157,155	180,975	(10.33%)	(10.33%)			16.54	2,930,724	127,795	(10.46%)	(10.46%)
Strategic Value			8.64	1,050,502	50,417	(11.31%)	(11.31%)			8.62	595,596	16,437	(11.44%)	(11.44%)
Growth LT			20.65	8,253,627	276,157	(30.68%)	(30.68%)			20.56	4,393,510	160,026	(30.79%)	(30.79%)
Focused 30			7.01	984,779	52,538	(14.74%)	(14.74%)			7.00	487,453	22,130	(14.87%)	(14.87%)
Mid-Cap Value			14.19	4,781,053	216,947	11.49%	11.49%			14.13	2,937,900	134,668	11.32%	11.32%
International Value			10.77	4,992,402	249,388	(23.12%)	(23.12%)			10.72	3,264,750	135,937	(23.24%)	(23.24%)
Capital Opportunities	01/02/01	01/19/01	8.31	1,234,449	73,261	(16.89%)	(24.80%)	01/02/01	01/10/01	8.30	656,294	40,735	(17.01%)	(21.95%)
Mid-Cap Growth	01/02/01	01/02/01	7.99	1,009,314	32,020	(20.11%)	(20.11%)	01/02/01	02/08/01	7.98	697,944	13,270	(20.23%)	(22.01%)
Global Growth	01/02/01	02/20/01	8.37	258,178	5,496	(16.33%)	(15.33%)	01/02/01	03/12/01	8.35	152,873	49	(16.45%)	(9.65%)
Equity Index			18.21	5,683,784	201,357	(13.56%)	(13.56%)			18.12	3,274,769	116,049	(13.69%)	(13.69%)
Small-Cap Index			11.16	1,803,044	34,152	0.11%	0.11%			11.11	1,213,369	29,667	(0.04%)	(0.04%)
REIT			13.74	1,167,679	79,343	6.81%	6.81%			13.68	852,530	30,363	6.65%	6.65%
Inflation Managed (2)			12.86	2,779,674	105,804	2.60%	2.60%			12.80	1,858,921	65,875	2.45%	2.45%
Managed Bond			13.42	8,912,313	328,780	5.62%	5.62%			13.36	5,763,589	229,185	5.46%	5.46%
Money Market			12.31	7,277,398	250,652	2.21%	2.21%			12.26	5,777,615	204,875	2.05%	2.05%
High Yield Bond			11.44	1,955,677	67,597	(0.27%)	(0.27%)			11.39	1,583,223	44,400	(0.42%)	(0.42%)
Equity			14.58	4,565,452	165,415	(23.01%)	(23.01%)			14.51	2,502,904	104,893	(23.13%)	(23.13%)
Aggressive Equity			9.67	2,807,339	116,458	(18.56%)	(18.56%)			9.63	1,762,899	48,382	(18.68%)	(18.68%)
Large-Cap Value			11.80	7,367,627	343,633	(5.19%)	(5.19%)			11.75	4,283,946	176,129	(5.33%)	(5.33%)
Prudential Jennison	10/22/01		10.84	16,223		7.63%		09/19/01		10.83	20,110		20.86%
Value	10/03/01		10.32	10,496		8.19%		09/19/01		10.32	24,981		13.29%
SP Jennison International Growth	10/03/01		10.02	2,525		7.96%		10/18/01		10.02	4,185		4.46%
SP Prudential U.S. Emerging Growth	11/19/01		10.71	1,939		4.53%		09/19/01		10.71	4,945		21.60%

See explanation of references on H-9

H-6

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS (Continued)

	Contracts with Stepped-Up Death Benefit
	Date Variable Account Commenced Operations or Contract First Sold During 2001			AUV at End of Year for		Number of Units Outstanding at End of Year			Total Returns (1)
Variable Accounts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select & Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts	Pacific Innovations Select Contracts	Pacific One Select Contracts	Pacific Odysseys Contracts
Blue Chip	04/06/01	04/23/01	10/05/01	$9.62	$9.01	1,638,628	107,682	1,847	(2.18%)	(11.85%)	7.88%
Aggressive Growth	04/10/01	05/16/01		9.72	8.70	330,675	30,637		(6.12%)	(15.21%)
Emerging Markets	04/11/01	04/27/01	12/31/01	10.21	9.61	78,029	2,659	97	(0.58%)	(5.03%)	0.00%
Diversified Research	04/06/01	04/23/01		10.55	9.76	689,111	38,983		7.12%	(0.10%)
Small-Cap Equity	04/02/01	04/27/01	12/31/01	11.27	9.53	474,319	15,440	487	12.75%	(1.32%)	0.00%
International Large-Cap	04/02/01	04/18/01	10/05/01	9.22	9.30	989,214	50,195	2,411	(7.79%)	(14.05%)	8.95%
I-Net Tollkeeper	04/10/01	04/18/01		9.24	7.70	59,175	2,791		(13.86%)	(23.62%)
Financial Services	04/06/01	04/18/01		9.95	9.34	340,866	34,542		2.77%	(3.32%)
Health Sciences	04/06/01	04/18/01		11.40	9.91	384,333	31,748		12.46%	2.75%
Technology	04/06/01	04/18/01		9.77	8.26	374,247	27,409		0.43%	(22.56%)
Telecommunications	04/10/01	04/18/01		7.49	7.52	119,160	14,738		(27.93%)	(36.72%)
Multi-Strategy	04/06/01	04/30/01		10.31	9.85	519,267	42,531		3.45%	(1.77%)
Equity Income	04/02/01	04/25/01	12/31/01	10.14	9.36	840,251	54,269	1,057	1.40%	(5.50%)	0.00%
Strategic Value	04/06/01	04/27/01		9.42	9.20	414,009	13,978		(2.46%)	(11.45%)
Growth LT	04/02/01	04/23/01	10/05/01	9.43	8.45	1,294,812	69,077	1,506	(5.69%)	(18.62%)	6.02%
Focused 30	04/16/01	04/18/01		11.12	10.53	133,218	4,055		8.90%	1.46%
Mid-Cap Value	04/02/01	04/23/01	10/05/01	11.53	10.26	1,301,503	119,569	1,144	15.29%	9.39%	13.99%
International Value	04/02/01	04/23/01	10/05/01	9.03	9.09	834,945	62,513	1,336	(9.73%)	(12.89%)	5.46%
Capital Opportunities	04/05/01	05/16/01	12/31/01	9.35	8.78	561,878	11,166	247	(6.81%)	(18.22%)	0.00%
Mid-Cap Growth	04/05/01	04/18/01		10.61	8.48	756,565	51,567		3.66%	(13.68%)
Global Growth	04/06/01	05/07/01		9.54	9.07	169,187	5,336		(4.85%)	(13.78%)
Equity Index	04/02/01	04/25/01	10/05/01	9.96	9.31	1,114,646	86,834	1,384	(0.41%)	(7.01%)	7.29%
Small-Cap Index	04/11/01	04/18/01		11.05	9.85	204,137	27,686		8.12%	4.12%
REIT	04/10/01	04/18/01	12/31/01	10.92	10.10	415,872	27,993	153	10.54%	9.94%	0.00%
Inflation Managed (2)	04/02/01	04/25/01	10/05/01	10.04	10.10	1,016,780	81,623	841	0.45%	1.30%	(0.96%)
Managed Bond	04/02/01	04/11/01	10/05/01	10.28	10.42	3,094,696	254,503	4,173	2.82%	3.76%	(1.51%)
Money Market	04/02/01	04/11/01	09/04/01	10.10	10.11	3,485,768	262,308	1,022	1.04%	0.97%	0.57%
High Yield Bond	04/02/01	04/25/01	10/05/01	9.57	9.86	482,390	27,465	680	(4.27%)	(3.28%)	6.35%
Equity	04/10/01	04/23/01	12/31/01	10.16	9.07	442,282	9,976	341	(2.40%)	(10.40%)	0.00%
Aggressive Equity	04/10/01	04/27/01		11.00	9.08	137,859	5,371		5.04%	(5.44%)
Large-Cap Value	04/06/01	04/25/01	10/05/01	9.93	9.60	2,023,116	148,427	2,871	0.94%	(6.07%)	7.13%

See explanation of references on H-9

H-7

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS (Continued)

	Contracts with Premier Death Benefit
	Date Variable Account Commenced Operations or Contract First Sold During 2001			AUV at End of Year for		Number of Units Outstanding at End of Year			Total Returns (1)
				Pacific
				Innovations
	Pacific	Pacific		Select &		Pacific	Pacific		Pacific	Pacific
	Innovations	One	Pacific	Pacific One	Pacific	Innovations	One	Pacific	Innovations	One	Pacific
	Select	Select	Odysseys	Select	Odysseys	Select	Select	Odysseys	Select	Select	Odysseys
Variable Accounts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts	Contracts
Blue Chip	04/11/01	04/10/01		$9.61	$9.01	1,290,854	75,424		(6.51%)	(6.46%)
Aggressive Growth	04/11/01	05/09/01	08/13/01	9.71	8.69	241,308	16,256	1,100	(5.79%)	(12.93%)	(6.33%)
Emerging Markets	04/11/01	05/09/01		10.20	9.60	90,230	4,419		(0.69%)	(6.71%)
Diversified Research	04/11/01	04/10/01		10.54	9.75	496,758	41,778		3.71%	3.67%
Small-Cap Equity	04/05/01	04/11/01		11.26	9.53	359,490	22,331		11.75%	7.88%
International Large-Cap	04/05/01	04/11/01		9.21	9.29	886,013	67,791		(9.72%)	(11.48%)
I-Net Tollkeeper	04/20/01	06/08/01		9.23	7.70	61,145	3,236		(26.44%)	(25.03%)
Financial Services	04/11/01	04/06/01		9.94	9.33	347,151	15,305		0.02%	2.66%
Health Sciences	04/10/01	05/25/01		11.39	9.91	566,124	9,301		8.22%	(1.70%)
Technology	04/11/01	04/06/01		9.76	8.25	345,460	8,358		(12.55%)	0.31%
Telecommunications	04/20/01	08/06/01		7.48	7.51	129,694	2,425		(38.31%)	(16.55%)
Multi-Strategy	04/11/01	05/24/01		10.29	9.84	380,828	9,678		1.55%	(3.88%)
Equity Income	04/05/01	04/11/01		10.13	9.36	697,289	25,962		0.59%	(1.50%)
Strategic Value	04/19/01	06/21/01		9.41	9.19	341,710	9,893		(10.58%)	(8.71%)
Growth LT	04/05/01	04/10/01		9.42	8.45	1,275,421	61,280		(6.68%)	(10.54%)
Focused 30	04/20/01	06/08/01		11.11	10.53	151,411	7,049		2.04%	1.68%
Mid-Cap Value	04/10/01	04/10/01	08/13/01	11.52	10.25	1,186,018	96,268	998	13.26%	13.26%	3.34%
International Value	04/05/01	04/10/01		9.02	9.08	851,203	78,043		(11.31%)	(12.56%)
Capital Opportunities	04/02/01	04/30/01		9.34	8.78	448,482	21,497		(6.62%)	(17.53%)
Mid-Cap Growth	04/11/01	05/18/01		10.60	8.47	537,801	33,315		(5.00%)	(23.23%)
Global Growth	04/16/01	06/19/01		9.53	9.06	91,333	4,648		(8.27%)	(8.54%)
Equity Index	04/05/01	04/11/01		9.95	9.30	1,209,353	42,899		(0.99%)	(2.26%)
Small-Cap Index	04/19/01	05/02/01	08/13/01	11.04	9.84	186,900	46,235	1,032	2.75%	(1.20%)	2.53%
REIT	04/10/01	04/11/01		10.91	10.09	323,797	25,918		10.42%	12.27%
Inflation Managed (2)	04/05/01	04/11/01		10.03	10.10	772,661	44,662		0.43%	0.97%
Managed Bond	04/05/01	04/10/01		10.27	10.41	2,643,122	154,159		2.80%	3.47%
Money Market	04/05/01	04/11/01		10.09	10.10	2,157,872	431,931		0.91%	0.86%
High Yield Bond	04/05/01	04/11/01		9.56	9.86	406,825	18,704		(2.94%)	(3.03%)
Equity	04/10/01	06/08/01		10.15	9.07	388,844	14,981		(2.51%)	(13.83%)
Aggressive Equity	04/10/01	04/10/01		10.99	9.07	113,526	15,249		4.92%	4.92%
Large-Cap Value	04/10/01	05/01/01		9.92	9.59	1,787,341	85,595		(2.58%)	(8.40%)

See explanation of references on H-9

H-8

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

6. FINANCIAL HIGHLIGHTS (Continued)

Variable Accounts	Total Net Assets at End of Year (in $000’s)	Ratios of Investment Income to Average Net Assets
Blue Chip (4)	$399,449	0.12%
Aggressive Growth (4)	65,995	0.00%
Emerging Markets	93,715	0.14%
Diversified Research	187,682	0.25%
Small-Cap Equity	228,662	15.57%
International Large-Cap	374,447	0.82%
I-Net Tollkeeper	60,855	0.00%
Financial Services (4)	51,666	0.47%
Health Sciences (4)	70,563	0.00%
Technology (4)	42,027	0.00%
Telecommunications (4)	13,924	0.14%
Multi-Strategy	375,938	2.66%
Equity Income	694,811	1.70%
Strategic Value	71,145	0.40%
Growth LT	1,282,100	16.55%
Focused 30	47,227	0.07%
Mid-Cap Value	606,359	3.28%
International Value	597,761	2.55%
Capital Opportunities (4)	114,712	0.20%
Mid-Cap Growth (4)	81,283	0.00%
Global Growth (4)	19,602	0.00%
Equity Index	970,855	1.41%
Small-Cap Index	154,533	8.88%
REIT	171,783	3.92%
Inflation Managed (2)	437,761	3.55%
Managed Bond	1,443,776	5.08%
Money Market	1,048,968	3.57%
High Yield Bond	284,405	9.72%
Equity	444,528	6.08%
Aggressive Equity	194,874	0.00%
Large-Cap Value	775,383	3.79%
Prudential Jennison (4)	451	0.00%
Value (4), (5)	472	28.39%
SP Jennison International Growth (4)	153	0.00%
SP Prudential U.S. Emerging Growth (4)	104	0.00%

Explanation of References for Financial Highlights on H-4 through H-9

(1) Total returns reflect a deduction for mortality and expense risk, administrative charges, and additional death benefit rider charges, if any, assessed through the daily accumulation unit value calculation and these charges are assessed at annual rates ranging from 0.40% to 2.00% of the average daily net assets of each Variable Account as discussed in Note 3. Total returns do not include deductions at the separate account or contract level for any premium loads, maintenance fees, premium tax charges, surrender charges, or other charges that may be incurred under a contract, which if incurred, would have resulted in lower returns. Total returns are not annualized for periods of less than one full year.

(2) Inflation Managed Variable Account was formerly named Government Securities Variable Account.

(3) The Variable Account had commenced operations but all purchased units were fully redeemed prior to December 31, 2001.

(4) The Variable Accounts commenced operations during 2001 (See Note 1 to Financial Statements). The ratios of investment income to average daily net assets are annualized.

(5) Ratios of investment income to average daily net assets are annualized in the table above for Variable Accounts that commenced operations during the year. Subsequent to September 6, 2001 (Commencement of the Value Variable Account), the Value Variable Account received its annual capital gains distribution. The investment income ratio for this Variable Account was 9.33% prior to annualization.

H-9

INDEPENDENT AUDITORS’ REPORT

The Board of Directors

Pacific Life Insurance Company:

We have audited the accompanying statement of assets and liabilities of Separate Account A (the “Separate Account”) (comprised of Blue Chip, Aggressive Growth, Emerging Markets, Diversified Research, Small-Cap Equity, International Large-Cap, I–Net Tollkeeper, Financial Services, Health Sciences, Technology, Telecommunications, Multi-Strategy, Equity Income, Strategic Value, Growth LT, Focused 30, Mid-Cap Value, International Value, Capital Opportunities, Mid-Cap Growth, Global Growth, Equity Index, Small-Cap Index, REIT, Inflation Managed, Managed Bond, Money Market, High Yield Bond, Equity, Aggressive Equity, Large-Cap Value, Prudential Jennison, Value, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Variable Accounts) as of December 31, 2001 and the related statement of operations and financial highlights for the year then ended (as to the Blue Chip, Aggressive Growth, Financial Services, Health Sciences, Technology, Telecommunications, Capital Opportunities, Mid-Cap Growth, Global Growth, Prudential Jennison, Value, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Variable Accounts, for each of the periods from commencement of operations through December 31, 2001), and the statement of changes in net assets for each of the two years in the period then ended (as to the Diversified Research, International Large-Cap, I–Net Tollkeeper, Strategic Value, and Focused 30 Variable Accounts, for the year ended December 31, 2001 and for each of the periods from commencement of operations through December 31, 2000, and as to the Blue Chip, Aggressive Growth, Financial Services, Health Sciences, Technology, Telecommunications, Capital Opportunities, Mid-Cap Growth, Global Growth, Prudential Jennison, Value, SP Jennison International Growth, and SP Prudential U.S. Emerging Growth Variable Accounts, for each of the periods from commencement of operations through December 31, 2001). These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2001. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement and financial highlights presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the respective Variable Accounts constituting Separate Account A as of December 31, 2001 and the results of their operations, financial highlights, and the changes in their net assets for the respective stated periods, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Costa Mesa, California

February 19, 2002

I-1

Annual Reports

as of December 31, 2001

•  Pacific Select Fund

•  Separate Account A of

Pacific Life Insurance Company

Accountants

Deloitte & Touche LLP

695 Town Center Drive

Suite 1200

Costa Mesa, CA 92626

Counsel

Dechert

1775 Eye Street, N.W.

Washington, D.C. 20006-2401

Pacific Life Insurance Company

Annuities & Mutual Funds Division

P.O. Box 7187

Pasadena, California 91109-7187

ADDRESS SERVICE REQUESTED

Form No. 2143-2A