-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Boc44+3aQ4KT6bKg6bR/iJualLCQMiWyR7L0y+Wh/M+1pfE5sRtw16ljN3hFic/c W50uecVAURPbrvmOJUtNuw== 0001206774-03-000676.txt : 20030909 0001206774-03-000676.hdr.sgml : 20030909 20030909123054 ACCESSION NUMBER: 0001206774-03-000676 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20030630 FILED AS OF DATE: 20030909 EFFECTIVENESS DATE: 20030909 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRANSAMERICA OCCIDENTALS SEPARATE ACCOUNT FUND B CENTRAL INDEX KEY: 0000073710 IRS NUMBER: 951060502 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-01902 FILM NUMBER: 03887459 BUSINESS ADDRESS: STREET 1: 1150 S OLIVE ST CITY: LOS ANGELES STATE: CA ZIP: 90015 BUSINESS PHONE: 2137423131 MAIL ADDRESS: STREET 1: 1150 SOUTH OLIVE ST CITY: LOS ANGELES STATE: CA ZIP: 90015 FORMER COMPANY: FORMER CONFORMED NAME: OCCIDENTALS SEPARATE ACCOUNT FUND B DATE OF NAME CHANGE: 19811209 N-CSRS 1 d13218.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-01902 ---------------------------------------------- Transamerica Occidental's Separate Account Fund B ------------------------------------------------------------------------ (Exact name of registrant as specified in charter) 570 Carillon Parkway, St. Petersburg, Florida 33716 ------------------------------------------------------------------------ (Address of principal executive offices) (Zip code) John K. Carter, Esq., P.O. Box 5068, Clearwater, Florida 33758-5068 ------------------------------------------------------------------------ (Name and address of agent for service) Registrant's telephone number, including area code: (727) 299-1800 ------------------ Date of fiscal year end: 12/31/03 ----------------- Date of reporting period: 01/01/03 - 06/30/03 ---------------------------- Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1 (REPORT TO SHAREHOLDERS): The Semi-Annual Report is attached. TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B SEMI-ANNUAL REPORT Dear Investor: PERFORMANCE Investor Class shares of Transamerica Separate Account fund B generated a total return of 13.94% for the first half of 2003. This compares favorably to the 11.76% six-month total return for the fund's benchmark, the Standard & Poor's 500 Index. MARKET OVERVIEW For the initial three months of the period, domestic equity markets were exceptionally volatile. Later, the markets staged a remarkably strong rally; the benchmark index recouped in a single quarter more than half the value it surrendered in 2002. Leading the market's rapid second-quarter advance were stocks from sectors severely downtrodden in prior periods -- such as tobacco, energy and utilities, and telecommunications. Following close on their heels were many high-volatility, lower-quality technology stocks. PORTFOLIO STRATEGY Our focus on quality was a distinct advantage in the first half of the period, and a relative disadvantage in the second half, when cyclical stocks and stocks in highly unstable sectors dominated the market. Such stocks rarely meet our investment criteria: defensible competitive positions; favorable, long-term industry or demographic trends; and solid capital structures. We prefer businesses with free cash flows that allow them to continue to operate and invest profitably even in a slothful economy. We also favor companies that have avoided potential pitfalls like expensive stock-option plans. Despite our lack of high-flying technology stocks, the fund's holdings did very well during the period. Chief among the equities making strong contributions to performance were Expedia Inc., the Internet travel-booking company, and Echostar Communications, a provider of satellite TV services. Results for Schwab Corp. were less impressive. While Schwab benefited from the market's rebound, the stock became overvalued during the quarter, and we sold our shares. OUTLOOK Many stocks are currently overvalued, given the present economic and earnings picture. Although a fair number of corporations have done a better job since 2000 of removing debt from their balance sheets and deploying their capital more wisely, many are still in a vulnerable position. Although pent-up demand, historically low interest rates, and optimism about a more robust economy may keep the recent rally going for some weeks or months to come, we doubt that many of the current market leaders will still be strong performers a year from now. With this risk in mind, we will continue to focus on businesses with the financial strength, competitive edge and/or pricing power to thrive in a moderately positive economic environment. /s/ Gary U. Rolle Gary U. Rolle President and Chairman, Board of Managers Transamerica Occidental's Separate Account Fund B PAST PERFORMANCE IS NOT PREDICTIVE OF FUTURE RESULTS. VALUE WILL FLUCTUATE; CAN LOSE PRINCIPAL. 1 TABLE OF ACCUMULATION UNIT VALUES
Accumulation End of Quarter Unit Value -------------- ------------ June, 1993..................... 6.139891 September, 1993................ 6.868266 December, 1993................. 6.851062 March, 1994.................... 6.629959 June, 1994..................... 6.325672 September, 1994................ 6.905430 December, 1994................. 7.364882 March, 1995.................... 8.376121 June, 1995..................... 9.806528 September, 1995................ 11.275672 December, 1995................. 11.163517 March, 1996.................... 11.495829 June, 1996..................... 12.356950 September, 1996................ 13.007681 December, 1996................. 14.289273 March, 1997.................... 14.574090 June, 1997..................... 18.948025 September, 1997................ 22.762719 December, 1997................. 20.822981 March, 1998.................... 24.769837 June, 1998..................... 26.122076
Accumulation End of Quarter Unit Value -------------- ------------ September, 1998................ 24.532238 December, 1998................. 31.039623 March, 1999.................... 36.274720 June, 1999..................... 36.182643 September, 1999................ 33.766134 December, 1999................. 43.812753 March, 2000.................... 49.902772 June, 2000..................... 46.517366 September, 2000................ 45.550563 December, 2000................. 38.753772 March, 2001.................... 32.935996 June, 2001..................... 34.566512 September, 2001................ 27.939022 December, 2001................. 31.800123 March, 2002.................... 31.249545 June, 2002..................... 26.102110 September, 2002................ 21.962538 December, 2002................. 24.139846 March, 2003.................... 24.392041 June, 2003..................... 27.210522
The table above covers the period from June, 1993, to June, 2003. The results shown should not be considered a representation of the gain or loss which may be realized from an investment made in the Fund today. 2 TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B PORTFOLIO OF INVESTMENTS JUNE 30, 2003 (UNAUDITED)
Number of Market Shares Common Stocks Value(1) - ------ ------------- -------- BANKING (6.28%) 65,000 Northern Trust Corp..................... $ 2,716,350 50,000 State Street Corp....................... 1,970,000 ----------- 4,686,350 ----------- BASIC INDUSTRY (3.22%) 40,000 Praxair Inc............................. 2,404,000 ----------- COMMUNICATIONS (19.05%) 75,000 Clear Channel Communications*........... 3,179,250 100,000 Cox Communications Inc*................. 3,190,000 120,000 Echostar Communications................. 4,154,400 70,000 Moody's Corporation..................... 3,689,700 ----------- 14,213,350 ----------- CONSUMER CYCLICAL (23.06%) 40,000 Expedia Inc............................. 3,055,200 280,000 Liberty Media Corp...................... 3,236,800 65,000 Marriott International.................. 2,497,300 140,000 Staples Inc............................. 2,569,000 80,000 TJX Companies........................... 1,507,200 55,000 Walgreen Company........................ 1,655,500 50,000 Wal-Mart Stores......................... 2,683,500 ----------- 17,204,500 -----------
Number of Market Shares Common Stocks Value(1) - ------ ------------- -------- CONSUMER NON CYCLICAL (16.19%) 45,000 Allergan Inc............................ $ 3,469,500 22,000 Genentech............................... 1,586,640 90,000 Gillette Company........................ 2,867,400 60,000 Pfizer Inc.............................. 2,049,000 25,000 Wellpoint Health Networks............... 2,107,500 ----------- 12,080,040 ----------- NON-CAPTIVE FINANCE (3.34%) 85,000 Paychex Inc............................. 2,491,350 ----------- OTHER INDUSTRY (5.34%) 115,000 Expeditors Intl Washington IN........... 3,983,600 ----------- TECHNOLOGY (17.73%) 105,000 First Data Corp......................... 4,351,200 100,000 Intel Corp.............................. 2,078,400 140,000 Microsoft Corp*......................... 3,585,400 90,000 QUALCOMM Inc............................ 3,217,500 ----------- 13,232,500 ----------- TRANSPORTATION (3.84%) 45,000 United Parcel Service................... 2,866,500 ----------- TOTAL COMMON STOCK (98.05%)............. 73,162,190 =========== Cash, Cash Equivalents and Receivables Less Liabilities (1.95%)............... 1,457,197 ----------- NET ASSETS (100.00%).................... $74,619,387 ===========
- ------------ (1) Common stocks are valued at the last closing price for securities traded on a national stock exchange and the bid price for unlisted securities. * Indicates non-income producing stocks. See notes to financial statements. 3 TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B STATEMENT OF ASSETS AND LIABILITIES JUNE 30, 2003 (UNAUDITED) ASSETS: Investments in common stock -- at market value (cost $65,622,180).............................................. $73,162,190 Cash and cash equivalents................................... 1,502,496 Dividends and interest receivable........................... 35,223 ----------- TOTAL ASSETS........................................... 74,699,909 LIABILITIES: Accrued asset charges and management fee.................... 80,523 ----------- NET ASSETS.................................................. $74,619,387 =========== Net assets attributed to variable annuity contractholders -- 2,742,299 units at $27.210522 per unit...................................................... $74,619,387 ===========
See notes to financial statements. STATEMENTS OF CHANGES IN NET ASSETS
Period ended Year ended June 30, December 31, 2003 2002 ------------ ------------ Net investment loss......................................... $ (217,130) $ (594,145) Net realized loss from security transactions................ (352,572) (5,465,983) Net unrealized depreciation on investments.................. 9,160,614 (16,193,424) ------------ ------------ Net decrease in net assets resulting from operations........ 8,590,911 (22,253,552) Variable annuity deposits (net of sales and administration expenses and applicable state premium taxes).............. 41,933 42,923 Payments to Contract Owners: Annuity payments.......................................... (9,111) (22,185) Terminations and withdrawals.............................. (1,550,335) (3,579,701) ------------ ------------ Total decrease in net assets................................ 7,073,398 (25,812,514) Balance at beginning of period.............................. 67,545,989 93,358,503 ------------ ------------ Balance at end of period.................................... $ 74,619,387 $ 67,545,989 ============ ============
See notes to financial statements. 4 TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B STATEMENT OF OPERATIONS JUNE 30, 2003 (UNAUDITED) NET INVESTMENT LOSS INCOME: Dividends.............................................. $ 235,875 Interest............................................... (5,550) ------------ Total investment income.............................. 230,325 ------------ EXPENSES: Investment management services......................... 103,258 Mortality and expense risk charges..................... 344,197 ------------ Total expenses....................................... 447,455 ------------ Net investment loss....................................... (217,130) ------------ NET REALIZED AND UNREALIZED LOSS ON INVESTMENTS Net realized loss from security transactions.............. (352,572) Net change in unrealized appreciation/depreciation on investments............................................ 9,160,614 ------------ Net realized and unrealized loss on investments........... 8,808,042 ------------ Net decrease in net assets resulting from operations.......................................... $ 8,590,911 ============
See notes to financial statements. 5 TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B NOTES TO FINANCIAL STATEMENTS NOTE A -- SIGNIFICANT ACCOUNTING POLICIES Transamerica Occidental's Separate Account Fund B (the Fund) is registered under the Investment Company Act of 1940 as an open-end diversified investment company. The Fund's investment objective is long-term capital growth. The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions could change in the future as additional information becomes known which could impact the amounts reported and disclosed herein. Investment in Common Stock Common stocks are valued at the last closing price for securities traded on a national stock exchange and the bid price for unlisted securities. The cost of securities purchased (excluding short-term investments) and proceeds from sales aggregated $9,202,155 and $11,250,536, respectively, in June, 2003. The Fund had gross unrealized gains of $4,797,282 and gross unrealized losses of $12,337,292 at June 30, 2003 related to these investments. Realized gains and losses on investments are determined using the average cost method. Cash Equivalents Cash equivalents consist of money market funds invested daily from excess cash balances on deposit. Federal Income Taxes Operations of the Fund form a part of, and are taxed with, those of Transamerica Occidental Life Insurance Company (Transamerica Occidental Life), which is taxed as a "life insurance company" under the Internal Revenue Code. Under the current Internal Revenue Code law, the investment income of the Fund, including realized and unrealized capital gains is not taxable to Transamerica Occidental Life as long as the earnings are credited under the Contract. Accordingly, no provision for Federal income taxes has been made. Expenses The value of the Fund has been reduced by charges on each valuation date for investment management services on the basis of an annual rate of 0.3% and mortality and expense risks on the basis of an annual rate of 1.0%. These charges are paid to Transamerica Occidental Life. Other The Fund follows industry practice and records security transactions on the trade date. Dividend income is recognized on the ex-dividend date, and interest income is recognized on an accrual basis. 6 NOTE B -- TRANSAMERICA OCCIDENTAL LIFE INVESTMENT As of June 30, 2003, Transamerica Occidental Life had deposited $2,000,000 (current fund value of $58,161,319) in the Fund under an amendment to the California Insurance Code which permits domestic life insurers to allocate amounts to such accounts. Transamerica Occidental Life is entitled to withdraw all but $100,000 of its proportionate share of the Fund, in whole or in part, at any time. NOTE C -- INVESTMENT ADVISORY ARRANGEMENTS No remuneration was paid during 2003 by Transamerica Occidental's Separate Account Fund B to any member of the Board of Managers or officer of Fund B or any affiliated person of such members or officers. FINANCIAL HIGHLIGHTS Selected data for an accumulation unit outstanding throughout each period are as follows:
Period Ended June 30, 2003 2002 2001 2000 1999 ------------- ------- ------- ------- ------- Investment income......................... $ 0.083 $ 0.139 $ 0.141 $ 0.096 $ 0.097 Expenses.................................. 0.160 0.345 0.436 0.598 0.456 ------- ------- ------- ------- ------- Net investment loss....................... (0.078) (0.206) (0.295) (0.502) (0.359) Net realized and unrealized gain (loss) on investments............................. 3.159 (7.454) (6.659) (4.558) 13.132 ------- ------- ------- ------- ------- Net increase (decrease) in accumulation unit value............. 3.071 (7.660) (6.954) (5.059) 12.773 Accumulation unit value: Beginning of period..................... 24.140 31.800 38.754 43.813 31.040 ------- ------- ------- ------- ------- End of period........................... $27.211 $24.140 $31.800 $38.754 $43.813 ======= ======= ======= ======= ======= Ratio of expenses to average accumulation fund balance............................ 1.29 % 1.28 % 1.29 % 1.33 % 1.29 % Ratio of net investment loss to average accumulation fund balance............... (0.62)% (0.77)% (0.87)% (1.12)% (1.02)% Portfolio turnover........................ 13.68 % 32.69 % 58.91 % 49.87 % 34.45 % Number of accumulation units outstanding at end of period (000's omitted)........ 2,742 2,798 2,936 3,028 3,084
7 TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B MANAGERS AND OFFICERS PETER R. BROWN, Vice Chairman, Director DANIEL CALABRIA, Director JANICE B. CASE, Director (LOGO) CHARLES C. HARRIS, Director LEO J. HILL, Director JOHN R. KENNEY, Chairman of the Board, Director RUSSELL A. KIMBALL, JR., Director LARRY N. NORMAN, Director WILLIAM W. SHORT, JR., Director BRIAN C. SCOTT, President and Chief Executive Officer THOMAS R. MORIARTY, Executive Vice President, Treasurer and Principal Financial Officer JOHN K. CARTER, Senior Vice President, TRANSAMERICA Secretary & General Counsel OCCIDENTAL'S WILLIAM T. DAVIS, Vice President, Investment Manager Oversight and Relations SEPARATE CHRISTOPHER G. ROETZER, Vice President and ACCOUNT FUND B Principal Accounting Officer SEMI-ANNUAL FINANCIAL Transamerica Occidental Life Insurance Company Annuity Service Center REPORT 4333 Edgewood Road NE Cedar Rapids, IA 52499 JUNE 30, 2003 877-717-8861 (LOGO) Must be preceded by a current Separate Account B prospectus. TFM 1036 Ed. 2-98 FORM N-CSR(2 OF 3) ITEM 2 (CODE OF ETHICS): Not applicable to this filing. ITEM 3 (AUDIT COMMITTEE FINANCIAL EXPERT): Not applicable to this filing. ITEM 4 (PRINCIPAL ACCOUNTANT FEES AND SERVICES): Not applicable to this filing. ITEM 5 (RESERVED) ITEM 6 (RESERVED) ITEM 7 (DISCLOSURE OF PROXY VOTING POLICIES & PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES): Not applicable to this filing. ITEM 8 (RESERVED) ITEM 9 (CONTROLS AND PROCEDURES): (a) Based on their evaluation of registrant's disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act of 1940 (17 CFR 270.30a-2(c)) as of June 30, 2003, registrant's principal executive officer and principal financial officer found registrant's disclosure controls and procedures to be appropriately designed to ensure that information required to be disclosed by registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in registrant's internal controls or in other factors that could significantly affect registrant's internal controls subsequent to the date of the most recent evaluation as indicated, including no significant deficiencies or material weaknesses that required corrective action. ITEM 10 (EXHIBITS): SUB-ITEM 10a - Not applicable to this filing. SUB-ITEM 10b - Included with this filing. Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Transamerica Occidental's Separate Account Fund B By: /s/ Brian C. Scott --------------------------------------------------------- President and Chief Executive Officer Date September 4, 2003 --------------------------------------------------------- FORM N-CSR(3 OF 3) Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities, and on the dates indicated. By: /s/ Brian C. Scott --------------------------------------------------------- President and Chief Executive Officer Date September 4, 2003 ------------------------ By: /s/ Kim D. Day --------------------------------------------------------- Vice President, Treasurer and Principal Financial Officer Date September 4, 2003 ------------------------ EX-99.1CERT 4 ex99_1cert.txt Exhibit 10(b)(1) Section 302 N-CSR Certification of Principal Executive Officer TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B FOR THE PERIOD ENDING JUNE 30, 2003 Form N-CSR Certification Pursuant to Section 302 of the Sarbanes-Oxley Act I, Brian C. Scott, certify that: 1. I have reviewed the report on Form N-CSR of Transamerica Occidental's Separate Account Fund B; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the fund's financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a. designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c. presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): a. all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions regarding significant deficiencies and material weaknesses. Date: September 4, 2003 By: /s/ Brian C. Scott --------------------- ---------------------------------------- Title: President and Chief Executive Officer EX-99.2CERT 5 ex99_2cert.txt Exhibit 10(b)(2) Section 302 N-CSR Certification of Principal Executive Officer TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B FOR THE PERIOD ENDING JUNE 30, 2003 Form N-CSR Certification Pursuant to Section 302 of the Sarbanes-Oxley Act I, Kim D. Day, certify that: 1. I have reviewed the report on Form N-CSR of Transamerica Occidental's Separate Account Fund B; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the fund's financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a. designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report (the "Evaluation Date"); and c. presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing equivalent functions): a. all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions regarding significant deficiencies and material weaknesses. Date: September 4, 2003 By: /s/ Kim D. Day --------------------- -------------------------------------- Title: Vice President, Treasurer & Principal Financial Officer EX-99.3CERT 6 ex99_3cert.txt Exhibit 10(b)(3) Section 906 N-CSR Certification of Principal Executive Officer TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B FOR THE PERIOD ENDING JUNE 30, 2003 FORM N-CSR CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT I, Brian C. Scott, President and Chief Executive Officer of Transamerica Occidental's Separate Account Fund B (the "Registrant"), certify that, to the best of my knowledge: (1) The Form N-CSR of Registrant (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Date: September 4, 2003 By: /s/ Brian C. Scott ------------------------- ------------------------------ EX-99.4CERT 7 ex99_4cert.txt Exhibit 10(b)(4) Section 906 N-CSR Certification of Principal Executive Officer TRANSAMERICA OCCIDENTAL'S SEPARATE ACCOUNT FUND B FOR THE PERIOD ENDING JUNE 30, 2003 FORM N-CSR CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT I, Kim D. Day, Vice President, Treasurer and Principal Financial Officer of Transamerica Occidental's Separate Account Fund B (the "Registrant"), certify that, to the best of my knowledge: (1) The Form N-CSR of Registrant (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Date: September 4, 2003 By: /s/ Kim D. Day --------------------- -------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----