FORM N-SAR

                                  SEMI-ANNUAL REPORT

                       FOR REGISTERED INVESTMENT COMPANIES


Report for fiscal year ending:  12/31/2000

Is this a transition report?  N

Is this an amendment to a previous filing?  N

Those  items or  sub-items  with a box  "[/]"  after the item  number  should be
completed only if the answer has changed from the previous filing on this form.

1.A.  Registrant  Name:  COLI VUL 2 Series Account
B.      File Number:  811-09201
C.      Telephone Number:  3037373000

2.A. Street:  8515 EAST ORCHARD ROAD
B.      City:  GREENWOOD VILLAGE
C.      State  COLORADO
D.      Zip Code:  80111
E.      Foreign Country:

3.      Is this the first filing on this form by Registrant?  N

4.      Is this the last filing on this form by Registrant?  N

5.      Is Registrant a small a business investment company (SBIC)? N
        (If yes, complete only 89-110)

6.      Is Registrant a unit investment trust (UIT)? Y
        (If yes,  complete only 111 through 132)

111.  A. Depositor name: Great-West Life & Annuity Insurance Company
      B. File number: 333-01173
      C. City:  Greenwood Village   State:CO  Zip Code: 80111

114.  A.  Principal Underwriter Name: BenefitsCorp Equities, Inc.
      B.  File number:  033854
      C:  City:  Greenwood Village  State: CO  Zip Code: 80111

126.  Of the amount shown in item 125, state the total dollar amount of sales
      loads collected from secondary market operations in Registant's units
      (include the sales loads, if any, collectd on units of a prior series
      placed in the portfolio of a subsequent series)($000's omitted) N/A


127.List opposite the appropriate  description  below the number of series whose
    portfolios  are invested  primarily  (based upon a percentage f NAV) in each
    type of securities shown, the aggregate total assets at market value as of a
    date at or near the end of the  current  period of each such group of series
    and the total income  distributions made by echo such group of series during
    the current period (excluding distributions of realized gains, if any):


                                    Number of      Total Assets    Total Income
                                      Series          ($000's      Distributions
                                    Investing         omitted)  ($000's omitted)


                                                                    
A.      U.S. Treasury direct issue                        $                $
B.      U.S. Government agency                            $                $
C.      State and municipal tax-free                      $                $
D.      Public utility debt                               $                $
E.      Brokers or dealers debt or
          debt of brokers' or dealers' parent             $                $
F.      All other corporate intermed. &
         long-term debt                                   $                $
G.      All other corporate short term debt               $                $
H.      Equity securities of brokers or
          dealers or parents of brokers or dealers        $                $
I.      Investment company equity securities              $                $
J.      All other equity securities                       $   2,637        $
K.      Other securities                                  $       8        $
L.      Total assets of all series of registrant          $   2,645        $



131.  Total  expenses  incurred by all series of  Registrant  during the current
reporting period ($000's omitted): $7


Signature Page

The following  form or signature  shall follow items 79, 85, 88, 104, 110 or 130
as appropriate.  This report is signed on behalf of the registrant (or depositor
or trustee).

City of: Greenwood Village  State of: Colorado       Date: February 21, 2001

Name of Registrant,  Depositor,  or Trustee:  COLI VUL 2 Series Account


By:/s/ Beverly A. Byrne                      Witness:/s/  Susan E. Campbell
Beverly A. Byrne                                          Susan E. Campbell
Vice President & Counsel                                  Legal Assistant I