Performance Calculations Pacific Value with 5% Credit Enhancement

EX-99.13(A)(2) 5 dex9913a2.htm PERFORMANCE CALCULATIONS PACIFIC VALUE WITH 5% CREDIT ENHANCEMENT Performance Calculations Pacific Value with 5% Credit Enhancement

EXHIBIT 13(a)(2)

Pacific Portfolios Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

From Inception of Fund

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services		Health Sciences		Technology		Telecommun- ications
Start Date		01/02/2001		01/02/2001		04/01/1996		01/03/2000		12/31/1992		01/03/2000		05/01/2000		01/02/2001		01/02/2001		01/02/2001		01/02/2001
Beginning AUV		10		10		10		10		7.545894929		10		10		10		10		10		10
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		5.863374		6.058383		5.535756		7.790781		12.747352		5.064973		2.651049		7.699572		6.883393		3.081028		2.742295
Days		728		728		2,465		1,093		3,652		1,093		974		728		728		728		728
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	36.00	$	63.00	$	—	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV	$	615.65	$	636.13	$	581.25	$	818.03	$	1,773.77	$	531.82	$	278.36	$	808.46	$	722.76	$	323.51	$	287.94
AATR W/Drawal		-25.72%		-24.35%		-8.59%		-8.96%		5.90%		-22.35%		-43.75%		-13.70%		-18.82%		-49.05%		-52.67%
AATR Account		-21.59%		-20.29%		-7.72%		-6.49%		5.90%		-19.01%		-38.07%		-10.11%		-15.02%		-43.21%		-46.43%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities		Mid-Cap Growth		Global Growth		Equity Index
Start Date		12/31/1992		12/31/1992		10/02/2000		01/04/1994		10/02/2000		01/04/1999		12/31/1992		01/02/2001		01/02/2001		01/02/2001		12/31/1992
Beginning AUV		7.690714346		7.260880457		10		6.634101737		10		10		6.940173533		10		10		10		6.83587819
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		13.290022		11.800039		6.649491		14.553163		4.895217		12.045122		9.196564		6.012902		4.181317		6.656409		14.024888
Days		3,652		3,652		820		3,283		820		1,457		3,652		728		728		728		3,652
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	—	$	—	$	63.00	$	—	$	63.00	$	63.00	$	—	$	63.00	$	63.00	$	63.00	$	—
Ending ERV	$	1,814.46	$	1,706.41	$	698.20	$	2,303.37	$	514.00	$	1,264.74	$	1,391.38	$	631.35	$	439.04	$	698.92	$	2,154.24
AATR W/Drawal		6.14%		5.49%		-18.29%		9.72%		-29.84%		4.71%		3.36%		-24.67%		-38.76%		-20.30%		7.98%
AATR Account		6.14%		5.49%		-14.78%		9.72%		-25.64%		6.06%		3.36%		-20.59%		-33.81%		-16.44%		7.98%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research		Equity		Aggressive Equity		Large-Cap Value
Start Date		01/04/1999		01/04/1999		12/31/1992		12/31/1992		12/31/1992		12/31/1992		01/02/2002		01/02/2002		12/31/1992		04/01/1996		01/04/1999
Beginning AUV		10		10		8.342795328		8.199955394		9.278833183		7.393702389		10		10		7.454115401		10		10
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		8.722391		13.583171		14.726397		14.770574		12.388093		11.008803		8.525561		7.772467		10.626376		7.185148		9.017837
Days		1,457		1,457		3,652		3,652		3,652		3,652		363		363		3,652		2,465		1,457
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	—	$	—	$	—	$	—	$	63.00	$	63.00	$	—	$	36.00	$	63.00
Ending ERV	$	915.85	$	1,426.23	$	1,853.42	$	1,891.36	$	1,401.85	$	1,563.39	$	895.18	$	816.11	$	1,496.85	$	754.44	$	946.87
AATR W/Drawal		-3.91%		8.07%		6.36%		6.58%		3.44%		4.57%		-16.78%		-24.69%		4.12%		-4.78%		-3.05%
AATR Account		-2.18%		9.30%		6.36%		6.58%		3.44%		4.57%		-10.48%		-18.39%		4.12%		-4.09%		-1.36%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [(ERV/$1000)^(365/# days)]-1

Pacific Value Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

From Inception of Separate Account

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services		Health Sciences		Technology		Telecommun- ications
Start Date		01/02/2001		01/02/2001		04/17/1996		01/03/2000		10/01/1999		01/03/2000		05/01/2000		01/02/2001		01/02/2001		01/02/2001		01/02/2001
Beginning AUV		10		10		10.102463		10		17.977974		10		10		10		10		10		10
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		5.863374		6.058383		5.535756		7.790781		12.747352		5.064973		2.651049		7.699572		6.883393		3.081028		2.742295
Days		728		728		2,449		1,093		1,187		1,093		974		728		728		728		728
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	36.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV	$	615.65	$	636.13	$	575.36	$	818.03	$	744.51	$	531.82	$	278.36	$	808.46	$	722.76	$	323.51	$	287.94
AATR W/Drawal		-25.72%		-24.35%		-8.79%		-8.96%		-11.12%		-22.35%		-43.75%		-13.70%		-18.82%		-49.05%		-52.67%
AATR Account		-21.59%		-20.29%		-7.91%		-6.49%		-8.67%		-19.01%		-38.07%		-10.11%		-15.02%		-43.21%		-46.43%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities		Mid-Cap Growth		Global Growth		Equity Index
Start Date		01/02/1996		01/02/1996		10/02/2000		01/02/1996		10/02/2000		01/04/1999		01/02/1996		01/02/2001		01/02/2001		01/02/2001		01/02/1996
Beginning AUV		10		10		10		10		10		10		10		10		10		10		10
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		13.290022		11.800039		6.649491		14.553163		4.895217		12.045122		9.196564		6.012902		4.181317		6.656409		14.024888
Days		2,555		2,555		820		2,555		820		1,457		2,555		728		728		728		2,555
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	36.00	$	36.00	$	63.00	$	36.00	$	63.00	$	63.00	$	36.00	$	63.00	$	63.00	$	63.00	$	36.00
Ending ERV	$	1,395.45	$	1,239.00	$	698.20	$	1,528.08	$	514.00	$	1,264.74	$	965.64	$	631.35	$	439.04	$	698.92	$	1,472.61
AATR W/Drawal		4.48%		2.68%		-18.29%		5.88%		-29.84%		4.71%		-1.04%		-24.67%		-38.76%		-20.30%		5.31%
AATR Account		4.88%		3.11%		-14.78%		6.24%		-25.64%		6.06%		-0.50%		-20.59%		-33.81%		-16.44%		5.68%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research		Equity		Aggressive Equity		Large-Cap Value
Start Date		01/04/1999		01/04/1999		01/02/1996		01/02/1996		01/02/1996		01/02/1996		01/02/2002		01/02/2002		01/02/1996		04/17/1996		01/04/1999
Beginning AUV		10		10		10		10		10		10		10		10		10		9.90872		10
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		8.722391		13.583171		14.726397		14.770574		12.388093		11.008803		8.525561		7.772467		10.626376		7.185148		9.017837
Days		1,457		1,457		2,555		2,555		2,555		2,555		363		363		2,555		2,449		1,457
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	36.00	$	36.00	$	36.00	$	36.00	$	63.00	$	63.00	$	36.00	$	36.00	$	63.00
Ending ERV	$	915.85	$	1,426.23	$	1,546.27	$	1,550.91	$	1,300.75	$	1,155.92	$	895.18	$	816.11	$	1,115.77	$	761.39	$	946.87
AATR W/Drawal		-3.91%		8.07%		6.07%		6.11%		3.41%		1.63%		-16.78%		-24.69%		1.10%		-4.67%		-3.05%
AATR Account		-2.18%		9.30%		6.42%		6.47%		3.83%		2.09%		-10.48%		-18.39%		1.58%		-3.98%		-1.36%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [(ERV/$1000)^(365/# days)]-1

Pacific Value Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

Last Year Ending 12/31/01

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services		Health Sciences		Technology		Telecommun- ications
Start Date		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001
Beginning AUV		8.028918		7.909705		5.791508		10.422392		16.915918		6.235545		4.379878		9.141828		9.101629		5.823391		5.253255
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		5.863374		6.058383		5.535756		7.790781		12.747352		5.064973		2.651049		7.699572		6.883393		3.081028		2.742295
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV	$	766.80	$	804.24	$	1,003.63	$	784.88	$	791.25	$	852.89	$	635.54	$	884.35	$	794.10	$	555.53	$	548.12
AATR W/Drawal		-29.62%		-25.88%		-5.94%		-27.81%		-27.18%		-21.01%		-42.75%		-17.87%		-26.89%		-50.75%		-51.49%
AATR Account		-23.32%		-19.58%		0.36%		-21.51%		-20.88%		-14.71%		-36.45%		-11.57%		-20.59%		-44.45%		-45.19%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities		Mid-Cap Growth		Global Growth		Equity Index
Start Date		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001
Beginning AUV		15.503009		16.713457		8.662383		20.778681		7.032229		14.27982		10.832825		8.327811		8.005332		8.383788		18.315224
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		13.290022		11.800039		6.649491		14.553163		4.895217		12.045122		9.196564		6.012902		4.181317		6.656409		14.024888
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV	$	900.12	$	741.32	$	806.01	$	735.41	$	730.92	$	885.68	$	891.40	$	758.13	$	548.43	$	833.66	$	804.04
AATR W/Drawal		-16.29%		-32.17%		-25.70%		-32.76%		-33.21%		-17.73%		-17.16%		-30.49%		-51.46%		-22.93%		-25.90%
AATR Account		-9.99%		-25.87%		-19.40%		-26.46%		-26.91%		-11.43%		-10.86%		-24.19%		-45.16%		-16.63%		-19.60%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research		Equity		Aggressive Equity		Large-Cap Value
Start Date		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001		12/31/2001
Beginning AUV		11.223609		13.819011		12.935447		13.502415		12.387528		11.5084		10		10		14.663321		9.727639		11.870354
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV		8.722391		13.583171		14.726397		14.770574		12.388093		11.008803		8.525561		7.772467		10.626376		7.185148		9.017837
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV	$	816.00	$	1,032.08	$	1,195.38	$	1,148.62	$	1,050.05	$	1,004.42	$	895.18	$	816.11	$	760.93	$	775.56	$	797.68
AATR W/Drawal		-24.70%		-3.09%		13.24%		8.56%		-1.30%		-5.86%		-16.78%		-24.69%		-30.21%		-28.74%		-26.53%
AATR Account		-18.40%		3.21%		19.54%		14.86%		5.00%		0.44%		-10.48%		-18.39%		-23.91%		-22.44%		-20.23%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [ERV/$1000]-1

Pacific Value Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

Last 3 Years ending 12/31/99

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services	Health Sciences		Technology		Telecommun- ications
Start Date		N/A		N/A		12/31/1999		12/31/1999		12/31/1999		12/31/1999		N/A	N/A		N/A		N/A		N/A
Beginning AUV						10.141653		10		23.007663		10
End Date						12/31/2002		12/31/2002		12/31/2002		12/31/2002
Ending AUV						5.535756		7.790781		12.747352		5.064973
Annual Fee ($0)					$	—	$	—	$	—	$	—
CDSC					$	63.00	$	63.00	$	63.00	$	63.00
Ending ERV					$	573.14	$	818.03	$	581.75	$	531.82
AATR W/Drawal						-20.10%		-8.94%		-19.65%		-22.32%
AATR Account						-16.93%		-6.48%		-16.52%		-18.98%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities	Mid-Cap Growth		Global Growth		Equity Index
Start Date		12/31/1999		12/31/1999		N/A		12/31/1999		N/A		12/31/1999		12/31/1999	N/A		N/A		N/A		12/31/1999
Beginning AUV		16.008586		20.219032				38.744794				10.376038		16.095415							23.637829
End Date		12/31/2002		12/31/2002				12/31/2002				12/31/2002		12/31/2002							12/31/2002
Ending AUV		13.290022		11.800039				14.553163				12.045122		9.196564							14.024888
Annual Fee ($0)	$	—	$	—			$	—			$	—	$	—						$	—
CDSC	$	63.00	$	63.00			$	63.00			$	63.00	$	63.00						$	63.00
Ending ERV	$	871.69	$	612.79			$	394.40			$	1,218.90	$	599.95						$	622.99
AATR W/Drawal		-6.83%		-18.08%				-30.80%				4.95%		-18.72%							-17.57%
AATR Account		-4.47%		-15.06%				-26.67%				6.82%		-15.66%							-14.59%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research	Equity		Aggressive Equity		Large-Cap Value
Start Date		12/31/1999		12/31/1999		12/31/1999		12/31/1999		12/31/1999		12/31/1999		N/A	N/A		12/31/1999		12/31/1999		12/31/1999
Beginning AUV		11.771037		9.860573		11.406225		11.600428		11.551771		12.128888					25.759119		15.312881		10.991754
End Date		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002		12/31/2002					12/31/2002		12/31/2002		12/31/2002
Ending AUV		8.722391		13.583171		14.726397		14.770574		12.388093		11.008803					10.626376		7.185148		9.017837
Annual Fee ($0)	$	—	$	—	$	—	$	—	$	—	$	—				$	—	$	—	$	—
CDSC	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00	$	63.00				$	63.00	$	63.00	$	63.00
Ending ERV	$	778.05	$	1,446.40	$	1,355.64	$	1,336.94	$	1,126.02	$	953.03				$	433.16	$	492.68	$	861.44
AATR W/Drawal		-10.58%		11.42%		8.93%		8.41%		2.06%		-3.81%					-28.20%		-24.54%		-7.23%
AATR Account		-8.02%		13.09%		10.67%		10.16%		4.04%		-1.59%					-24.34%		-21.02%		-4.85%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [(ERV/$1000)^(1/3)]-1

Pacific Value Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

Last 5 Years ending 12/31/97

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services	Health Sciences		Technology		Telecommun- ications
Start Date		N/A		N/A		12/31/1997		N/A		12/31/1997		N/A		N/A	N/A		N/A		N/A		N/A
Beginning AUV						9.281881				15.618726
End Date						12/31/2002				12/31/2002
Ending AUV						5.535756				12.747352
Annual Fee ($0)					$	—			$	—
CDSC					$	45.00			$	45.00
Ending ERV					$	626.22			$	856.97
AATR W/Drawal						-10.28%				-4.08%
AATR Account						-8.94%				-3.04%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities	Mid-Cap Growth		Global Growth		Equity Index
Start Date		12/31/1997		12/31/1997		N/A		12/31/1997		N/A		N/A		12/31/1997	N/A		N/A		N/A		12/31/1997
Beginning AUV		13.014333		14.783078				12.707541						12.762569							15.69257
End Date		12/31/2002		12/31/2002				12/31/2002						12/31/2002							12/31/2002
Ending AUV		13.290022		11.800039				14.553163						9.196564							14.024888
Annual Fee ($0)	$	—	$	—			$	—					$	—						$	—
CDSC	$	45.00	$	45.00			$	45.00					$	45.00						$	45.00
Ending ERV	$	1,072.24	$	838.12			$	1,202.50					$	756.62						$	938.41
AATR W/Drawal		0.54%		-4.53%				2.97%						-6.58%							-2.23%
AATR Account		1.40%		-3.47%				3.76%						-5.43%							-1.26%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research	Equity		Aggressive Equity		Large-Cap Value
Start Date		N/A		N/A		12/31/1997		12/31/1997		12/31/1997		12/31/1997		N/A	N/A		12/31/1997		12/31/1997		N/A
Beginning AUV						10.95187		11.137453		10.751784		11.82987					14.676255		10.921505
End Date						12/31/2002		12/31/2002		12/31/2002		12/31/2002					12/31/2002		12/31/2002
Ending AUV						14.726397		14.770574		12.388093		11.008803					10.626376		7.185148
Annual Fee ($0)					$	—	$	—	$	—	$	—				$	—	$	—
CDSC					$	45.00	$	45.00	$	45.00	$	45.00				$	45.00	$	45.00
Ending ERV					$	1,411.88	$	1,392.52	$	1,209.80	$	977.12				$	760.25	$	690.78
AATR W/Drawal						6.45%		6.15%		3.10%		-1.40%					-6.48%		-8.37%
AATR Account						7.14%		6.85%		3.88%		-0.46%					-5.33%		-7.13%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [(ERV/$1000)^(1/5)]-1

Pacific Value Variable Annuity Separate Account

Schedule for Computation of Performance Quotations

Average Initial Premium = $65,000.

Last 10 Years ending 12/31/92

	Blue Chip		Aggressive Growth		Emerging Markets		Diversified Research		Small-Cap Equity		International Large-Cap		I-Net Tollkeeper		Financial Services	Health Sciences		Technology	Telecommun- ications
Start Date		N/A		N/A		N/A		N/A		12/31/1992		N/A		N/A	N/A		N/A	N/A		N/A
Beginning AUV										7.545894929
End Date										12/31/2002
Ending AUV										12.747352
Annual Fee ($0)									$	—
CDSC									$	—
Ending ERV									$	1,773.77
AATR W/Drawal										5.90%
AATR Account										5.90%

	Multi- Strategy		Large-Cap Core		Strategic Value		Growth LT		Focused 30		Mid-Cap Value		International Value		Capital Opportunities	Mid-Cap Growth		Global Growth	Equity Index
Start Date		12/31/1992		12/31/1992		N/A		N/A		N/A		N/A		12/31/1992	N/A		N/A	N/A		12/31/1992
Beginning AUV		7.690714346		7.260880457										6.940173533						6.83587819
End Date		12/31/2002		12/31/2002										12/31/2002						12/31/2002
Ending AUV		13.290022		11.800039										9.196564						14.024888
Annual Fee ($0)	$	—	$	—									$	—					$	—
CDSC	$	—	$	—									$	—					$	—
Ending ERV	$	1,814.46	$	1,706.41									$	1,391.38					$	2,154.24
AATR W/Drawal		6.14%		5.49%										3.36%						7.98%
AATR Account		6.14%		5.49%										3.36%						7.98%

	Small-Cap Index		Real Estate		Inflation Managed		Managed Bond		Money Market		High Yield Bond		Equity Income		Research	Equity		Aggressive Equity	Large-Cap Value
Start Date		N/A		N/A		12/31/1992		12/31/1992		12/31/1992		12/31/1992		N/A	N/A		12/31/1992	N/A		N/A
Beginning AUV						8.342795328		8.199955394		9.278833183		7.393702389					7.454115401
End Date						12/31/2002		12/31/2002		12/31/2002		12/31/2002					12/31/2002
Ending AUV						14.726397		14.770574		12.388093		11.008803					10.626376
Annual Fee ($0)					$	—	$	—	$	—	$	—				$	—
CDSC					$	—	$	—	$	—	$	—				$	—
Ending ERV					$	1,853.42	$	1,891.36	$	1,401.85	$	1,563.39				$	1,496.85
AATR W/Drawal						6.36%		6.58%		3.44%		4.57%					4.12%
AATR Account						6.36%		6.58%		3.44%		4.57%					4.12%

Dollar Values are per $1000 of initial premium

Average Annual Total Return (AATR) of Surrender Value = [(ERV/$1000)^(1/10)]-1