Rule 497(e)

File Nos. 333-70963 and 811-09201

Key Business VUL – Prospectus

A Flexible Premium Variable Universal Life Insurance Policy

Offered by Great-West Life & Annuity Insurance Company

In connection with its COLI VUL-2 Series Account

SUPPLEMENT Dated December 29, 2009

To the Prospectus dated May 1, 2009

The name change of the Putnam VT International New Opportunities Fund to the Putnam VT International Growth Fund will become effective on or about February 1, 2010.

This change will be reflected on page 32 of your Prospectus.

This Supplement must be accompanied by, or read in conjunction with the

Prospectus dated May 1, 2009.  Please keep this Supplement for future reference.