497 1 b64369a2e497.txt VINTAGE ANNUITY SUPPLEMENT SUPPLEMENT DATED FEBRUARY 28, 2007 TO THE VINTAGE(SM) ANNUITY PROSPECTUS DATED MAY 1, 2006 Effective February 28, 2007, the following information supplements, and to the extent inconsistent therewith, replaces the information contained in the variable annuity contract prospectus listed above. Please retain this supplement and keep it with the prospectus for future reference. 1. UNDERLYING FUND FEES AND EXPENSES Your variable annuity contract offers the following Underlying Funds: - the Legg Mason Partners Variable Dividend Strategy Portfolio and Legg Mason Partners Variable Premier Selections All Cap Growth Portfolio of the Legg Mason Partners Investment Series; - the Legg Mason Partners Variable Money Market Portfolio of the Legg Mason Partners Variable Portfolios III, Inc.; and - the Met/AIM Capital Appreciation Portfolio and Pioneer Strategic Income Portfolio of the Met Investors Series Trust. The information in the table below replaces the disclosure regarding the Underlying Funds noted above contained in the sub-section of the prospectus titled "Underlying Fund Fees and Expenses." The figures in the table are for the fiscal year ended October 31, 2006 and are expressed as a percentage of the Underlying Fund's average daily net assets (note: effective November 1, 2006, the fiscal year end of the Met/AIM Capital Appreciation Portfolio and Pioneer Strategic Income Portfolio of the Met Investors Series Trust was changed to December 31). There is no guarantee that actual expenses will be the same as those shown in the table. For more complete information on these fees and expenses, please refer to the prospectus for each Underlying Fund. UNDERLYING FUND FEES AND EXPENSES (as a percentage of average daily net assets)
DISTRIBUTION AND/OR CONTRACTUAL FEE NET TOTAL SERVICE TOTAL ANNUAL WAIVER ANNUAL MANAGEMENT (12B-1) OTHER OPERATING AND/OR EXPENSE OPERATING UNDERLYING FUND: FEE FEES EXPENSES EXPENSES REIMBURSEMENT EXPENSES ---------------- ----------- ------------- -------- ------------ --------------------------------------- LEGG MASON PARTNERS -- INVESTMENT SERIES Legg Mason Partners Variable Dividend Strategy Portfolio 0.65% -- 0.24% 0.89% -- 0.89% Legg Mason Partners Variable Premier Selections All Cap Growth Portfolio 0.75% -- 0.25% 1.00% -- 1.00%
February 2007
DISTRIBUTION AND/OR CONTRACTUAL FEE NET TOTAL SERVICE TOTAL ANNUAL WAIVER ANNUAL MANAGEMENT (12B-1) OTHER OPERATING AND/OR EXPENSE OPERATING UNDERLYING FUND: FEE FEES EXPENSES EXPENSES REIMBURSEMENT EXPENSES ---------------- ------------ ----------- -------- ------------ --------------- ----------- LEGG MASON PARTNERS VARIABLE PORTFOLIOS III, INC. Legg Mason Partners Variable Money Market Portfolio 0.45% -- 0.03% 0.48% -- 0.48% MET INVESTORS SERIES TRUST Met/AIM Capital Appreciation Portfolio 0.78% -- 0.16% 0.94% -- 0.94% Pioneer Strategic Income Portfolio 0.72% -- 0.16% 0.88% -- 0.88%
2. MINIMUM AND MAXIMUM TOTAL ANNUAL UNDERLYING FUND OPERATING EXPENSES The information in the table below replaces the disclosure regarding the range (minimum and maximum) of the total annual operating expenses charged by all of the Underlying Funds, before any voluntary or contractual fee waivers and/or expense reimbursements, contained in the sub-section of the prospectus titled "Minimum and Maximum Total Annual Underlying Fund Operating Expenses." MINIMUM AND MAXIMUM TOTAL ANNUAL UNDERLYING FUND OPERATING EXPENSES
MINIMUM MAXIMUM ------- ------- TOTAL ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Underlying Fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) 0.48% 1.16%
3. EXAMPLE The information below replaces the disclosure contained in the section of the prospectus titled "Example." The example is intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include Contract Owner transaction expenses, contract fees, separate account annual expenses, and Underlying Fund total annual operating expenses. The example does not represent past or future expenses. Your actual expenses may be more or less than those shown. The example assumes that you invest $10,000 in the Contract for the time periods indicated and that your investment has a 5% return each year. The example reflects the annual contract administrative charge, factoring in that the charge is waived for contracts over a certain value. Additionally, the example is based on the minimum and maximum Underlying Fund total annual 2 operating expenses shown above, and does not reflect any Underlying Fund fee waivers and/or expense reimbursements. The example assumes you have allocated all of your Contract Value to either the Underlying Fund with the maximum total annual operating expenses or the Underlying Fund with the minimum total annual operating expenses.
IF CONTRACT IS SURRENDERED AT THE END IF CONTRACT IS NOT SURRENDERED OR OF PERIOD SHOWN: ANNUITIZED AT THE END OF PERIOD SHOWN: ----------------------------------------- ------------------------------------------ FUNDING OPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS ----------------------------------- ------- --------- --------- --------- -------- --------- --------- ---------- Underlying Fund with Minimum Total $801 $1,221 $1,265 $2,297 $201 $621 $1,065 $2,297 Annual Operating Expenses........ Underlying Fund with Maximum Total Annual Operating Expenses........ $869 $1,425 $1,606 $2,978 $269 $825 $1,406 $2,978
3