-----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, RbIaTnAzDbf+Qn/4BYTO4xfj7M3JyzG+YJ+/EK/EZjVz0X+gLqXEk79qHUW+AN0r iDhJl+5yn5CoBBaYsjwP/g== 0001047469-98-008660.txt : 19980306 0001047469-98-008660.hdr.sgml : 19980306 ACCESSION NUMBER: 0001047469-98-008660 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19980305 EFFECTIVENESS DATE: 19980305 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHBROOK VARIABLE ANNUITY ACCOUNT II CENTRAL INDEX KEY: 0000864922 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: SEC FILE NUMBER: 033-35412 FILM NUMBER: 98557871 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: SEC FILE NUMBER: 811-06116 FILM NUMBER: 98557872 BUSINESS ADDRESS: STREET 1: 3100 SANDERS RD CITY: NORTHBROOK STATE: IL ZIP: 60062 BUSINESS PHONE: 7084024301 MAIL ADDRESS: STREET 1: 3100 SANDERS RD CITY: NORTHBROOK STATE: IL ZIP: 60062 485BPOS 1 485BPOS AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 5, 1998 FILE NO. 33-35412 FILE NO. 811-06116 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------------------ FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 /X/ POST-EFFECTIVE AMENDMENT NO. 17 AND/OR REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/ AMENDMENT NO. 18 ------------------------ NORTHBROOK VARIABLE ANNUITY ACCOUNT II (Exact Name of Registrant) NORTHBROOK LIFE INSURANCE COMPANY (Name of Depositor) MICHAEL J. VELOTTA VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL NORTHBROOK LIFE INSURANCE COMPANY 3100 SANDERS ROAD NORTHBROOK, ILLINOIS 60062 847/402-2400 (Name and Complete Address of Agent for Service) ------------------------ COPIES TO: RICHARD T. CHOI, ESQUIRE CHRISTINE A. EDWARDS, ESQUIRE FREEDMAN, LEVY, KROLL & SIMONDS DEAN WITTER REYNOLDS INC. 650 CONNECTICUT AVENUE, NW TWO WORLD TRADE CENTER WASHINGTON, DC 20006 NEW YORK, NEW YORK 10048 ------------------------ IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (CHECK APPROPRIATE BOX) X immediately upon filing pursuant to paragraph (b) of Rule 485 --- on (date) pursuant to paragraph (b) of Rule 485 --- 60 days after filing pursuant to paragraph (a)(1) of Rule 485 --- on (date) pursuant to paragraph (a)(1) of Rule 485 --- IF APPROPRIATE, CHECK THE FOLLOWING BOX: ___ This post-effective amendment designates a new effective date for a previously filed post-effective amendment. - -------------------------------------------------------------------------------- CROSS REFERENCE SHEET Showing Location in Part A (Prospectus) and Part B of Registration Statement of Information Required by Form N-4
ITEM OF FORM N-4 PROSPECTUS CAPTION - -------- ------------------ 1. Cover Page. . . . . . . . . . . . . . . . . . . Cover Page 2. Definitions . . . . . . . . . . . . . . . . . . Glossary 3. Synopsis. . . . . . . . . . . . . . . . . . . . Introduction: Summary of Separate Account Expenses 4. Condensed Financials. . . . . . . . . . . . . . -- (a) Chart . . . . . . . . . . . . . . . . . . Condensed Financial Statements (b) Performance Data. . . . . . . . . . . . . Performance Data (c) Location of Others. . . . . . . . . . . . Financial Statements 5. General . . . . . . . . . . . . . . . . . . . . -- (a) Depositor . . . . . . . . . . . . . . . . Northbrook Life Insurance Company (b) Registrant. . . . . . . . . . . . . . . . The Variable Account (c) Portfolio Company . . . . . . . . . . . . Dean Witter Variable Investment Series (d) Fund Prospectus . . . . . . . . . . . . . Dean Witter Variable Investment Series (e) Voting Rights . . . . . . . . . . . . . . Voting Rights (f) Administrators. . . . . . . . . . . . . . Charges & Other Deductions -- Contract Maintenance Charge 6. Deductions & Expenses . . . . . . . . . . . . . Charges & Other Deductions (a) General . . . . . . . . . . . . . . . . . Charges & Other Deductions (b) Sales Load. . . . . . . . . . . . . . . . Surrender Charge (c) Special Purchase Plans. . . . . . . . . . N/A (d) Commissions . . . . . . . . . . . . . . . Sales Commission (e) Fund Expenses . . . . . . . . . . . . . . Summary of Expenses; Dean Witter Variable Investment Series Expenses (f) Organizational Expenses . . . . . . . . . N/A 7. Contracts (a) Persons with Rights . . . . . . . . . . . The Contracts; Benefits; Income Payments; Voting Rights; Assignments; Beneficiaries Contract Owners (b) (i) Allocation of Purchase Payments . Allocation of Purchase Payments (ii) Transfers. . . . . . . . . . . . . Transfers (iii) Exchanges. . . . . . . . . . . . . N/A (c) Changes . . . . . . . . . . . . . . . . . Modification (d) Inquiries . . . . . . . . . . . . . . . . Customer Inquiries 8. Annuity Period. . . . . . . . . . . . . . . . . Income Payments (a) Material Factors. . . . . . . . . . . . . Amount of Variable Annuity Income Payments (b) Dates . . . . . . . . . . . . . . . . . . Date Income Starting (c) Frequency, duration & level . . . . . . . Amount of Variable Annuity Income Payments (d) AIR . . . . . . . . . . . . . . . . . . . Amount of Variable Annuity Income Payments (e) Minimum . . . . . . . . . . . . . . . . . Amount of Variable Annuity Income Payments (f) -- Change Options . . . . . . . . . . . . Income Plans -- Transfer . . . . . . . . . . . . . . . -- 9. Death Benefit . . . . . . . . . . . . . . . . . Benefits Under the Contract 10. Purchases & Contract Value (a) Purchases . . . . . . . . . . . . . . . . Purchase of the Contract; Crediting of Purchase Payments (b) Valuation . . . . . . . . . . . . . . . . Value of Variable Account Accumulation Units (c) Daily Calculation . . . . . . . . . . . . Value of Variable Account Accumulation Units; Allocation of Purchase Payments (d) Underwriter . . . . . . . . . . . . . . . Dean Witter Reynolds Inc. 11. Redemptions (a) -- By Owners . . . . . . . . . . . . . . Surrender & Withdrawals (b) -- By Annuitant. . . . . . . . . . . . . Annuity Options (c) Texas ORP. . . . . . . . . . . . . . . . N/A (d) Lapse. . . . . . . . . . . . . . . . . . Default (e) Free Look. . . . . . . . . . . . . . . . Introduction 12. Taxes . . . . . . . . . . . . . . . . . . . . . Federal Tax Matters 13. Legal Proceedings . . . . . . . . . . . . . . . N/A 14. SAI Contents. . . . . . . . . . . . . . . . . . SAI Table of Contents 15. Cover Page. . . . . . . . . . . . . . . . . . . SAI: Cover Page 16. Table of Contents . . . . . . . . . . . . . . . SAI: Table of Contents 17. General Information & History (a) Depositor's Name. . . . . . . . . . . . . Northbrook Life Insurance Company (b) Assets of Sub-Account . . . . . . . . . . The Variable Account (c) Control of Depositor. . . . . . . . . . . Northbrook Life Insurance Company 18. Services (a) Fees & Expenses of Registrant . . . . . . Contract Maintenance Charge (b) Management Contracts. . . . . . . . . . . Contract Maintenance Charge; Sales Commissions (c) Custodian . . . . . . . . . . . . . . . . SAI: Safekeeping of the Variable Account's Assets Independent Public Accountant . . . . . . SAI: Experts (d) Assets of Registrant. . . . . . . . . . . SAI: Safekeeping of the Variable Account Assets (e) Affiliated Persons. . . . . . . . . . . . N/A (f) Principal Underwriter . . . . . . . . ... Dean Witter Reynolds Inc. 19. Purchase of Securities Being Offered (a) Offering. . . . . . . . . . . . . . . . . SAI: Purchase of Contracts (b) Sales load. . . . . . . . . . . . . . ... SAI: Sales Commissions 20. Underwriters (a) Principal Underwriter . . . . . . . . . . N/A (b) Continuous offering . . . . . . . . . ... SAI: Purchase of Contracts (c) Commissions . . . . . . . . . . . . . . . SAI: Sales Commissions; Dean Witter Reynolds Inc. (d) Unaffiliated Underwriters . . . . . . . . N/A 21. Calculation of Performance Data . . . . . . . . SAI: Performance Data 22. Annuity Payments. . . . . . . . . . . . . . . . SAI; Income Payments 23. Financial Statements (a) Financial Statements of Registrant. . . . SAI; Northbrook Variable Annuity Account Financial Statements (b) Financial Statements of Depositor . . . . SAI; Northbrook Life Insurance Company Financial Statements 24a. Financial Statements. . . . . . . . . . . . . . Part C. Financial Statements 24b. Exhibits. . . . . . . . . . . . . . . . . . . . Part C. Exhibits 25. Directors and Officers. . . . . . . . . . . . . Part C. Directors & Officers of Depositor 26. Persons Controlled By or Under Common Control with Depositor or Registrant . . . . . . . . . Part C. Persons Controlled by or Under Common Control with Depositor or Registrant 27. Number of Contract Owners . . . . . . . . . . . Part C. Number of Contract Owners 28. Indemnification . . . . . . . . . . . . . . . . Part C. Indemnification 29a. Relationship of Principal Underwriter to Other Investment Companies. . . . . . . . . . . . . . Part C. Relationship of Principal Underwriter to Other Investment Companies 29b. Principal Underwriters. . . . . . . . . . . . . Part C. Principal Underwriters 29c. Compensation of Underwriter . . . . . . . . . . Part C. Compensation of Dean Witter 30. Location of Accounts and Records. . . . . . . . Part C. Location of Accounts and Records 31. Management Services . . . . . . . . . . . . . . Part C. Management Services 32. Undertakings. . . . . . . . . . . . . . . . ... Part C. Undertakings
Registrant is filing this Post-effective Amendment No. 17 for the purpose of adding four additional Sub-Accounts to the Variable Account. Registrant does not intend for this Post-effective Amendment No. 17 to amend or delete any other part of this Registration Statement except as specifically noted herein. SUPPLEMENT DATED MARCH 5, 1998 TO THE PROSPECTUS DATED MAY 1, 1997 AS SUPPLEMENTED JANUARY 19, 1998 OF NORTHBROOK VARIABLE ANNUITY ACCOUNT II OF NORTHBROOK LIFE INSURANCE COMPANY Northbrook Life Insurance Company ("Northbrook Life") is pleased to announce the availability of four new Sub-Accounts, described below, to the Contracts described in the Prospectus. Capitalized terms have the same meaning as given to them in the Prospectus. Please retain this Supplement for future reference. FOUR NEW SUB-ACCOUNTS Cover Page: Replace the fourth paragraph with the following paragraph: The Variable Account invests in shares of one or more management investment companies ("Funds"). All of the Funds which are described in this prospectus may not be available in your state. Presently, the Variable Account invests in shares of the following Funds: Dean Witter Variable Investment Series Morgan Stanley Universal Funds, Inc. Van Kampen American Capital Life Investment Trust Page 4: Replace the following definitions: Fund - The Dean Witter Variable Investment Series, the Morgan Stanley Universal Funds, Inc. and/or the Van Kampen American Capital Life Investment Trust. Investment Alternative - The Fixed Account and the seventeen Sub-Accounts of the Variable Account constitute the eighteen Investment Alternatives. Portfolios - The mutual fund portfolios of the Funds. Page 5: Question 3, substitute the following sentence for the first sentence: The Variable Account invests in shares of the Dean Witter Variable Investment Series, a mutual fund managed by Dean Witter InterCapital Inc., a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co. Question 3, insert the following sentences before the third to last sentence of the paragraph: The Variable Account invests in shares of three Portfolios of Morgan Stanley Universal Funds, Inc., a mutual fund managed by Morgan Stanley Asset Management Inc., a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co. The Fund Portfolios include: the Equity Growth Portfolio, the International Magnum Portfolio, and the Emerging Markets Equity Portfolio. The Variable Account also invests in shares of one Portfolio of Van Kampen American Capital Life Investment Trust, a mutual fund managed by Van Kampen American Capital Asset Management, Inc., a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co. The Fund Portfolio includes: the Emerging Growth Portfolio. Page 7: Replace the existing chart and add the following charts: Dean Witter Variable Investment Series, Inc. ("Fund") Expenses (as a percentage of Fund average assets)
Management Other Total Fund Portfolio Fees Expenses Annual Expenses - --------- ---------- -------- --------------- Money Market .50% .02% .52% Quality Income Plus .50%(1) .03% .53% High Yield .50% .03% .53% Utilities .65%(2) .02% .67% Income Builder(4) .75% .24% .99% Dividend Growth .53%(3) .01% .54% Capital Growth .65% .06% .71% Global Dividend Growth .75% .09% .84% European Growth 1.00% .12% 1.12% Pacific Growth 1.00% .44% 1.44% Capital Appreciation(4) .75% .22% .97% Equity .50%(5) .02% .52% Strategist .50% .02% .52%
(1) This percentage is applicable to Portfolio net assets of up to $500 million. For net assets which exceed $500 million, the management fee will be 0.45%. (2) This percentage is applicable to Portfolio net assets of up to $500 million. For net assets which exceed $500 million, the management fee will be 0.55%. (3) The management fee will be 0.625% for net assets of up to $500 million. For net assets which exceed $500 million, but to not exceed $1 billion, the management fee will be 0.50% and for net assets that exceed $1 billion, the management fee will be 0.475%. (4) Dean Witter InterCapital has undertaken to assume all expenses until the pertinent portfolio has $50 million in assets or until July 31, 1998, whichever occurs first. Income Builder obtained $50 million on December 3, 1997 resulting in fees being applied on that date and thereafter. (5) This percentage is applicable to Portfolio net assets of up to $1 billion. For net assets which exceed $1 billion, the management fee will be 0.475%. Morgan Stanley Universal Funds, Inc. ("Fund") Expenses (as a percentage of Fund average assets)
Management Other Total Fund Portfolio Fees(1) Expenses Annual Expenses - --------- ---------- -------- --------------- Equity Growth 0% .85% .85% International Magnum 0% 1.15% 1.15% Emerging Markets Equity 0% 1.75% 1.75%
(1) Morgan Stanley Asset Management Inc. has voluntarily agreed to a reduction in its management fees and to reimburse the Portfolios for which it acts as investment adviser if such fees would cause "Total Fund Annual Expenses" to exceed the amount set forth in the table above. Absent such reductions the expenses would have been as follows:
Management Other Total Fund Portfolio Fees Expenses Annual Expenses - --------- ---------- -------- --------------- Equity Growth .55% 1.50% 2.05% International Magnum .80% 1.98% 2.78% Emerging Markets Equity 1.25% 2.87% 4.12%
Van Kampen American Capital Life Investment Trust ("Fund") Expenses (as a percentage of Fund average assets)
Management Other Total Fund Portfolio Fees(1) Expenses Annual Expenses - --------- ---------- -------- --------------- Emerging Growth 0% .85% .85%
(1) Van Kampen American Capital has voluntarily agreed to a reduction in its management fees and to reimburse the Portfolio for which it acts as investment adviser if such fees would cause "Total Fund Annual Expenses" to exceed the amount set forth in the table above. Absent such reductions the expenses would have been as follows:
Management Other Total Fund Portfolio Fees Expenses Annual Expenses - --------- ---------- -------- --------------- Emerging Growth .70% 1.80% 2.50%
Page 8: Replace the charts in the example with the charts listed below: "If you surrender your Contract ..." (with both the optional Performance Income Benefit and the optional Performance Death Benefit****)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $65 $94 $125 $250 Quality Income Plus Sub-Account $65 $94 $126 $251 High Yield Sub-Account $65 $94 $126 $251 Utilities Sub-Account $66 $98 $133 $266 Income Builder Sub-Account $69 $108 $149 $299 Dividend Growth Sub-Account $65 $94 $126 $252 Capital Growth Sub-Account $67 $100 $135 $270 Global Dividend Growth Sub-Account $68 $104 $142 $283 European Growth Sub-Account $71 $112 $156 $311 Pacific Growth Sub-Account $74 $122 $172 $343 Capital Appreciation Sub-Account $69 $108 $148 $296 Equity Sub-Account $65 $94 $125 $250 Strategist Sub-Account $65 $94 $125 $250 Equity Growth Sub-Account $68 $104 $142 $284 International Magnum Sub-Account $71 $113 $157 $314 Emerging Markets Equity Sub-Account $77 $131 $187 $372 Emerging Growth Sub-Account $68 $104 $142 $284
(with an optional Death Benefit provision or the optional Performance Income Benefit**)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $63 $90 $120 $239 Quality Income Plus Sub-Account $64 $91 $120 $240 High Yield Sub-Account $64 $91 $120 $240 Utilities Sub-Account $65 $95 $127 $255 Income Builder Sub-Account $68 $105 $144 $287 Dividend Growth Sub-Account $64 $91 $121 $241 Capital Growth Sub-Account $65 $96 $129 $259 Global Dividend Growth Sub-Account $67 $100 $136 $272 European Growth Sub-Account $70 $109 $150 $300 Pacific Growth Sub-Account $73 $118 $167 $332 Capital Appreciation Sub-Account $68 $104 $143 $285 Equity Sub-Account $63 $90 $120 $239 Strategist Sub-Account $63 $90 $120 $239 Equity Growth Sub-Account $67 $100 $137 $273 International Magnum Sub-Account $70 $110 $152 $303 Emerging Markets Equity Sub-Account $76 $128 $182 $361 Emerging Growth Sub-Account $67 $100 $137 $273
(without an optional Death Benefit provision or the optional Performance Income Benefit ***)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $62 $86 $113 $225 Quality Income Plus Sub-Account $62 $87 $114 $227 High Yield Sub-Account $62 $87 $114 $227 Utilities Sub-Account $64 $91 $121 $241 Income Builder Sub-Account $67 $101 $137 $275 Dividend Growth Sub-Account $62 $87 $114 $228 Capital Growth Sub-Account $64 $92 $123 $246 Global Dividend Growth Sub-Account $65 $96 $130 $259 European Growth Sub-Account $68 $105 $144 $288 Pacific Growth Sub-Account $72 $115 $160 $320 Capital Appreciation Sub-Account $67 $100 $136 $273 Equity Sub-Account $62 $86 $113 $225 Strategist Sub-Account $62 $86 $113 $225 Equity Growth Sub-Account $66 $97 $130 $260 International Magnum Sub-Account $69 $106 $146 $291 Emerging Markets Equity Sub-Account $75 $124 $176 $350 Emerging Growth Sub-Account $66 $97 $130 $260
"If you do not surrender your Contract ...." (with both the optional Performance Income Benefit and the optional Performance Death Benefit****)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $22 $68 $117 $250 Quality Income Plus Sub-Account $22 $68 $117 $251 High Yield Sub-Account $22 $68 $117 $251 Utilities Sub-Account $24 $73 $124 $266 Income Builder Sub-Account $27 $83 $141 $299 Dividend Growth Sub-Account $22 $69 $118 $252 Capital Growth Sub-Account $24 $74 $127 $270 Global Dividend Growth Sub-Account $25 $78 $133 $283 European Growth Sub-Account $28 $87 $147 $311 Pacific Growth Sub-Account $32 $96 $164 $343 Capital Appreciation Sub-Account $27 $82 $140 $296 Equity Sub-Account $22 $68 $117 $250 Strategist Sub-Account $22 $68 $117 $250 Equity Growth Sub-Account $25 $78 $134 $284 International Magnum Sub-Account $29 $88 $149 $314 Emerging Markets Equity Sub-Account $35 $106 $179 $372 Emerging Growth Sub-Account $25 $78 $134 $284
(with an optional Death Benefit provision or the optional Performance Income Benefit**)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $21 $65 $111 $239 Quality Income Plus Sub-Account $21 $65 $112 $240 High Yield Sub-Account $21 $65 $112 $240 Utilities Sub-Account $23 $69 $119 $255 Income Builder Sub-Account $26 $79 $135 $287 Dividend Growth Sub-Account $21 $65 $112 $241 Capital Growth Sub-Account $23 $71 $121 $259 Global Dividend Growth Sub-Account $24 $75 $128 $272 European Growth Sub-Account $27 $83 $142 $300 Pacific Growth Sub-Account $30 $93 $158 $332 Capital Appreciation Sub-Account $26 $79 $134 $285 Equity Sub-Account $21 $65 $111 $239 Strategist Sub-Account $21 $65 $111 $239 Equity Growth Sub-Account $24 $75 $128 $273 International Magnum Sub-Account $27 $84 $143 $303 Emerging Markets Equity Sub-Account $34 $102 $173 $361 Emerging Growth Sub-Account $24 $75 $128 $273
(without an optional Death Benefit provision or the optional Performance Income Benefit ***)
1 Year 3 Year 5 Year 10 Year ------ ------ ------ ------- Money Market Sub-Account $20 $61 $105 $225 Quality Income Plus Sub-Account $20 $61 $105 $227 High Yield Sub-Account $20 $61 $105 $227 Utilities Sub-Account $21 $66 $112 $241 Income Builder Sub-Account $25 $75 $129 $275 Dividend Growth Sub-Account $20 $62 $106 $228 Capital Growth Sub-Account $22 $67 $114 $246 Global Dividend Growth Sub-Account $23 $71 $121 $259 European Growth Sub-Account $26 $79 $136 $288 Pacific Growth Sub-Account $29 $89 $152 $320 Capital Appreciation Sub-Account $24 $75 $128 $273 Equity Sub-Account $20 $61 $105 $225 Strategist Sub-Account $20 $61 $105 $225 Equity Growth Sub-Account $23 $71 $122 $260 International Magnum Sub-Account $26 $80 $137 $291 Emerging Markets Equity Sub-Account $32 $99 $167 $350 Emerging Growth Sub-Account $23 $71 $122 $260
****Total Separate Account Annual Expenses of 1.59% **Total Separate Account Annual Expenses of 1.48% ***Total Separate Account Annual Expenses of 1.35% Page 9: Add the following column to the Condensed Financial Information table:
1997 ---- Money Market Sub-Account Accumulation Unit Value, Beginning of Period 12.086240 Accumulation Unit Value, End of Period 12.545891 Number of Units Outstanding, End of Period 18,625,329.60 Quality Income Plus Sub-Account Accumulation Unit Value, Beginning of Period 16.291873 Accumulation Unit Value, End of Period 17.982521 Number of Units Outstanding, End of Period 20,839,536.29 High Yield Sub-Account Accumulation Unit Value, Beginning of Period 24.146504 Accumulation Unit Value, End of Period 26.651638 Number of Units Outstanding, End of Period 8,797,892.14 Utilities Sub-Account Accumulation Unit Value, Beginning of Period 19.132545 Accumulation Unit Value, End of Period 24.208448 Number of Units Outstanding, End of Period 15,172,386.90 Income Builder Sub-Account Accumulation Unit Value, Beginning of Period 10.000000 Accumulation Unit Value, End of Period 12.083732 Number of Units Outstanding, End of Period 2,364,582.81 Dividend Growth Sub-Account Accumulation Unit Value, Beginning of Period 26.253625 Accumulation Unit Value, End of Period 32.589936 Number of Units Outstanding, End of Period 39,673,541.61 Capital Growth Sub-Account Accumulation Unit Value, Beginning of Period 16.213165 Accumulation Unit Value, End of Period 20.177340 Number of Units Outstanding, End of Period 4,469,790.49 Global Dividend Growth Sub-Account Accumulation Unit Value, Beginning of Period 13.769880 Accumulation Unit Value, End of Period 15.303559 Number of Units Outstanding, End of Period 21,662,482.02 European Growth Sub-Account Accumulation Unit Value, Beginning of Period 23.949281 Accumulation Unit Value, End of Period 27.870064 Number of Units Outstanding, End of Period 9,765,284.13 Pacific Growth Sub-Account Accumulation Unit Value, Beginning of Period 9.817883 Accumulation Unit Value, End of Period 6.059243 Number of Units Outstanding, End of Period 8,191,656.38 Capital Appreciation Sub-Account Accumulation Unit Value, Beginning of Period 10.000000 Accumulation Unit Value, End of Period 11.176955 Number of Units Outstanding, End of Period 1,609,655.21 Equity Sub-Account Accumulation Unit Value, Beginning of Period 28.243565 Accumulation Unit Value, End of Period 38.873354 Number of Units Outstanding, End of Period 13,511,971.54 Strategist Sub-Account Accumulation Unit Value, Beginning of Period 19.132545 Accumulation Unit Value, End of Period 21.539863 Number of Units Outstanding, End of Period 16,153,105.07
Page 10: Add the following column to the Condensed Financial Information table: for Contracts with an Optional Death Benefit Provision
1997 ---- Money Market Sub-Account Accumulation Unit Value, Beginning of Period 12.067804 Accumulation Unit Value, End of Period 12.510584 Number of Units Outstanding, End of Period 5,406,174.68 Quality Income Plus Sub-Account Accumulation Unit Value, Beginning of Period 16.266995 Accumulation Unit Value, End of Period 17.931874 Number of Units Outstanding, End of Period 2,700,281.79 High Yield Sub-Account Accumulation Unit Value, Beginning of Period 24.109648 Accumulation Unit Value, End of Period 26.576588 Number of Units Outstanding, End of Period 3,843,253.28 Utilities Sub-Account Accumulation Unit Value, Beginning of Period 19.103338 Accumulation Unit Value, End of Period 24.140294 Number of Units Outstanding, End of Period 1,753,742.93 Income Builder Sub-Account Accumulation Unit Value, Beginning of Period 10.000000 Accumulation Unit Value, End of Period 12.068959 Number of Units Outstanding, End of Period 2,024,851.02 Dividend Growth Sub-Account Accumulation Unit Value, Beginning of Period 26.213574 Accumulation Unit Value, End of Period 32.498223 Number of Units Outstanding, End of Period 13,973,140.58 Capital Growth Sub-Account Accumulation Unit Value, Beginning of Period 16.188413 Accumulation Unit Value, End of Period 20.120513 Number of Units Outstanding, End of Period 1,365,426.82 Global Dividend Growth Sub-Account Accumulation Unit Value, Beginning of Period 13.748863 Accumulation Unit Value, End of Period 15.260474 Number of Units Outstanding, End of Period 7,789,952.24 European Growth Sub-Account Accumulation Unit Value, Beginning of Period 23.912739 Accumulation Unit Value, End of Period 27.791611 Number of Units Outstanding, End of Period 3,091,981.26 Pacific Growth Sub-Account Accumulation Unit Value, Beginning of Period 9.802888 Accumulation Unit Value, End of Period 6.042153 Number of Units Outstanding, End of Period 2,105,514.42 Capital Appreciation Sub-Account Accumulation Unit Value, Beginning of Period 10.000000 Accumulation Unit Value, End of Period 11.163269 Number of Units Outstanding, End of Period 1,147,827.70 Equity Sub-Account Accumulation Unit Value, Beginning of Period 28.200434 Accumulation Unit Value, End of Period 38.763896 Number of Units Outstanding, End of Period 5,454,408.82 Strategist Sub-Account Accumulation Unit Value, Beginning of Period 19.042238 Accumulation Unit Value, End of Period 21.479229 Number of Units Outstanding, End of Period 3,529,096.07
Page 11: Under "Dean Witter Reynolds Inc.", replace the second sentence in the first paragraph with the following sentence: Dean Witter is a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co. ("Morgan Stanley, Dean Witter Discover"). After the second paragraph add the following paragraphs: Morgan Stanley, Dean Witter Discover's wholly owned subsidiary, Morgan Stanley Asset Management Inc. ("MSAM"), is the investment manager of Morgan Stanley Universal Funds, Inc. MSAM is registered with the Securities and Exchange Commission as an investment adviser. As compensation for investment management, the Fund pays MSAM a monthly advisory fee. These expenses are more fully described in the Fund's Prospectus. Morgan Stanley, Dean Witter Discover's wholly owned subsidiary, Van Kampen American Capital Asset Management, Inc. ("VKACAM"), is the investment manager of Van Kampen American Capital Life Investment Trust. VKACAM is registered with the Securities and Exchange Commission as an investment adviser. As compensation for investment management, the Fund pays VKACAM a monthly advisory fee. These expenses are more fully described in the Fund's Prospectus. Pages 11-12: Delete the third paragraph under "Dean Witter Reynolds Inc." Page 12: In the first sentence under "Dean Witter Variable Investment Series" delete the word "exclusively" and at the end of the sentence add ", the Morgan Stanley Universal Funds, Inc. and the Van Kampen American Capital Life Investment Trust (collectively "Funds")." Also in the fourth, fifth and sixth sentences change "Fund" to "Funds". In the third paragraph under "Dean Witter Variable Investment Series" change "Fund" to "Funds". Page 13: Before the third to last paragraph prior to "The Contracts", add the following: Morgan Stanley Universal Funds, Inc. The Fund Portfolios available under the Contracts include: the Equity Growth Portfolio, the International Magnum Portfolio, and the Emerging Markets Equity Portfolio. Each Portfolio has different investment objectives and policies and operates as a separate investment fund. The Equity Growth Portfolio seeks long-term capital appreciation by investing primarily in equity securities of medium and large capitalization companies that, in the investment adviser's judgment, provide above-average potential for capital growth. The International Magnum Portfolio seeks long-term capital appreciation by investing primarily in equity securities of non-US issuers domiciled in EAFE countries (defined as countries that include Australia, Japan, New Zealand, most nations in Western Europe and certain developed countries in Asia such as Hong Kong and Singapore, see the Fund's prospectus for greater detail). The Emerging Markets Equity Portfolio seeks long-term capital appreciation by investing primarily in equity securities of emerging market country issuers with a focus on those in which the investment manager believes the economies are developing strongly and in which the markets are becoming more sophisticated. Van Kampen American Capital Life Investment Trust The Fund Portfolio available under the Contracts includes: the Emerging Growth Portfolio. The Emerging Growth Portfolio seeks capital appreciation by investing in a portfolio of securities consisting of common stocks of small and medium sized companies considered by the investment manager to be emerging growth companies. Page 13: In the last two paragraphs before "The Contracts" change "Fund" to "Funds" and "Prospectus" to "Prospectuses". Page 17: Under "Dean Witter Variable Investment Series ("Fund") Expenses" change the heading to "Fund Expenses" and replace the word "the" with the word "each". SUPPLEMENT DATED MARCH 5, 1998 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1997 AS SUPPLEMENTED JANUARY 19, 1998 OF NORTHBROOK VARIABLE ANNUITY ACCOUNT II OF NORTHBROOK LIFE INSURANCE COMPANY The Statement of Additional Information is amended as set forth below. Please retain this Supplement for future reference. Under "Standardized Total Return" replace the existing table with the following tables for the periods ended December 31, 1997: (Without an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.48%) 2.91% 3.15% Quality Income Plus 5.32% 6.54% 8.47% High Yield 6.06% 10.13% 14.58% Utilities 21.14% 11.67% 13.05% Income Builder NA NA 16.74% Dividend Growth 19.62% 16.90% 17.84% Capital Growth 18.58% 9.48% 10.77% Global Dividend Growth 6.23% NA 11.13% European Growth 10.22% 21.96% 16.13% Pacific Growth (42.84%) NA (13.22%) Capital Appreciation NA NA 7.05% Equity 31.29% 18.42% 20.77% Strategist 7.89% 8.78% 11.23%
(With an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.61%) 2.78% 3.07% Quality Income Plus 5.18% 6.40% 8.33% High Yield 5.92% 9.98% 14.43% Utilities 20.99% 11.53% 12.91% Income Builder NA NA 16.58% Dividend Growth 19.46% 16.75% 17.69% Capital Growth 18.41% 9.34% 10.63% Global Dividend Growth 6.09% NA 10.99% European Growth 10.08% 21.81% 15.99% Pacific Growth (42.91%) NA (13.33%) Capital Appreciation NA NA 6.90% Equity 31.12% 18.27% 20.62% Strategist 7.75% 8.64% 11.09%
(With both the Optional Performance Income Benefit and the Optional Performance Death Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.72%) 2.67% 2.91% Quality Income Plus 5.07% 6.29% 8.21% High Yield 5.81% 9.86% 14.31% Utilities 20.85% 11.41% 12.79% Income Builder NA NA 16.45% Dividend Growth 19.33% 16.62% 17.56% Capital Growth 18.28% 9.22% 10.51% Global Dividend Growth 5.98% NA 10.87% European Growth 9.96% 21.67% 15.86% Pacific Growth (42.98%) NA (13.43%) Capital Appreciation NA NA 6.78% Equity 30.97% 18.15% 20.49% Strategist 7.63% 8.52% 10.97%
Above the first paragraph on page 5, add the heading "Adjusted Historical Return". Replace the existing table that follows that paragraph with the following tables for the periods ended December 31, 1997: Adjusted Historical Return (Without an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.48%) 2.91% 4.13% Quality Income Plus 5.32% 6.54% 7.93% High Yield 6.06% 10.13% 7.32% Utilities 21.14% 11.67% 11.73% Income Builder NA NA 16.74% Dividend Growth 19.62% 16.90% 13.44% Capital Growth 18.58% 9.48% 10.77% Global Dividend Growth 6.23% NA 11.13% European Growth 10.22% 21.96% 16.13% Pacific Growth (42.84%) NA (13.22%) Capital Appreciation NA NA 7.05% Equity 31.29% 18.42% 15.89% Strategist 7.89% 8.78% 9.57% Equity Growth NA NA 26.32% International Magnum NA NA 0.74% Emerging Markets Equity (5.33%) NA (6.22%) Emerging Growth 14.52% NA 19.34%
(With an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.61%) 2.78% 4.06% Quality Income Plus 5.18% 6.40% 7.86% High Yield 5.92% 9.98% 7.26% Utilities 20.99% 11.53% 11.68% Income Builder NA NA 16.58% Dividend Growth 19.46% 16.75% 13.39% Capital Growth 18.41% 9.34% 10.63% Global Dividend Growth 6.09% NA 10.99% European Growth 10.08% 21.81% 15.99% Pacific Growth (42.91%) NA (13.33%) Capital Appreciation NA NA 6.90% Equity 31.12% 18.27% 15.81% Strategist 7.75% 8.64% 9.50% Equity Growth NA NA 26.15% International Magnum NA NA 0.60% Emerging Markets Equity (5.46%) NA (6.35%) Emerging Growth 14.36% NA 19.18%
(With both the Optional Performance Income Benefit and the Optional Performance Death Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market (0.72%) 2.67% 3.88% Quality Income Plus 5.07% 6.29% 7.67% High Yield 5.81% 9.86% 7.06% Utilities 20.85% 11.41% 11.46% Income Builder NA NA 16.45% Dividend Growth 19.33% 16.62% 13.16% Capital Growth 18.28% 9.22% 10.51% Global Dividend Growth 5.98% NA 10.87% European Growth 9.96% 21.67% 15.86% Pacific Growth (42.98%) NA (13.43%) Capital Appreciation NA NA 6.78% Equity 30.97% 18.15% 15.61% Strategist 7.63% 8.52% 9.31% Equity Growth NA NA 26.00% International Magnum NA NA 0.49% Emerging Markets Equity (5.57%) NA (6.45%) Emerging Growth 14.23% NA 19.05%
Under "Other Total Return" replace the existing table with the following tables for the periods ended December 31, 1997: (Without an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market 3.82% 3.11% 3.21% Quality Income Plus 9.62% 6.72% 8.51% High Yield 10.37% 10.29% 14.61% Utilities 25.45% 11.83% 13.09% Income Builder NA NA 22.24% Dividend Growth 23.92% 17.03% 17.86% Capital Growth 22.87% 9.65% 10.81% Global Dividend Growth 10.54% NA 11.66% European Growth 14.53% 22.07% 16.16% Pacific Growth (38.54%) NA (12.18%) Capital Appreciation NA NA 12.53% Equity 35.59% 18.55% 20.79% Strategist 12.19% 8.95% 11.26% Equity Growth NA NA 31.48% International Magnum NA NA 5.92% Emerging Markets Equity (1.04%) NA (2.71%) Emerging Growth 18.81% NA 20.41%
(With an optional Death Benefit provision or the optional Performance Income Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market 3.69% 2.97% 3.07% Quality Income Plus 9.48% 6.58% 8.36% High Yield 10.22% 10.13% 14.45% Utilities 25.29% 11.69% 12.94% Income Builder NA NA 22.08% Dividend Growth 23.76% 16.88% 17.71% Capital Growth 22.71% 9.50% 10.66% Global Dividend Growth 10.39% NA 11.52% European Growth 14.38% 21.92% 16.01% Pacific Growth (38.62%) NA (12.29%) Capital Appreciation NA NA 12.39% Equity 35.42% 18.40% 20.63% Strategist 12.05% 8.80% 11.12% Equity Growth NA NA 31.31% International Magnum NA NA 5.78% Emerging Markets Equity (1.17%) NA (2.83%) Emerging Growth 18.66% NA 20.25%
(With both the Optional Performance Income Benefit and the Optional Performance Death Benefit)
10-Years or Since Sub-Account 1 Year 5-Years Inception (if less) - ----------------------------------------------------------------------------------------------- Money Market 3.57% 2.86% 2.96% Quality Income Plus 9.36% 6.46% 8.25% High Yield 10.10% 10.01% 14.33% Utilities 25.15% 11.56% 12.82% Income Builder NA NA 21.95% Dividend Growth 23.63% 16.75% 17.58% Capital Growth 22.58% 9.38% 10.54% Global Dividend Growth 10.27% NA 11.39% European Growth 14.25% 21.78% 15.89% Pacific Growth (38.68%) NA (12.39%) Capital Appreciation NA NA 12.26% Equity 35.27% 18.27% 20.50% Strategist 11.93% 8.68% 11.00% Equity Growth NA NA 31.16% International Magnum NA NA 5.66% Emerging Markets Equity (1.27%) NA (2.94%) Emerging Growth 18.53% NA 20.12%
The unaudited financial statements of Northbrook Life Insurance Company for the third quarter ended September 30, 1997 are incorporated by reference to the Company's Form 10-Q Report for that period (File No. 33-90272), a copy of which accompanies this Statement of Additional Information. INDEPENDENT AUDITORS' REPORT To the Board of Directors and Shareholder of Northbrook Life Insurance Company: We have audited the accompanying statement of net assets of Northbrook Variable Annuity Account II (the "Account") as of December 31, 1997, and the related statement of operations for the year then ended and the statement of changes in net assets for the year ended December 31, 1997 of the Money Market, High Yield, Equity, Quality Income Plus, Strategist, Dividend Growth, Utilities, European Growth, Capital Growth, Global Dividend Growth, Pacific Growth, Capital Appreciation, and Income Builder portfolios that comprise the Account and for the year ended December 31, 1996 of the Money Market, High Yield, Equity, Quality Income Plus, Strategist, Dividend Growth, Utilities, European Growth, Capital Growth, Global Dividend Growth, and Pacific Growth portfolios that comprise the Account. These financial statements are the responsibility of the Account's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned at December 31, 1997. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the financial position of the Account as of December 31, 1997, the results of its operations for the year then ended, and the changes in net assets for each of the two years in the period then ended, of each of the portfolios comprising the Account, in conformity with generally accepted accounting principles. /s/ DELOITTE & TOUCHE LLP Chicago, Illinois February 20, 1998 NORTHBROOK VARIABLE ANNUITY ACCOUNT II
STATEMENT OF NET ASSETS DECEMBER 31, 1997 - -------------------------------------------------------------------------------- ($ and shares in thousands) ASSETS Investments in the Dean Witter Variable Investment Series Portfolios: Money Market, 301,306 shares (cost $301,306) $ 301,306 High Yield, 55,003 shares (cost $348,823) 336,619 Equity, 21,938 shares (cost $560,962) 736,690 Quality Income Plus, 39,291 shares (cost $416,727) 423,168 Strategist, 28,631 shares (cost $371,672) 423,738 Dividend Growth, 80,882 shares (cost $1,254,591) 1,747,060 Utilities, 22,035 shares (cost $297,406) 409,636 European Growth, 15,212 shares (cost $264,905) 358,090 Capital Growth, 6,433 shares (cost $96,620) 117,662 Global Dividend Growth, 32,426 shares (cost $386,272) 450,391 Pacific Growth, 10,189 shares (cost $96,689) 62,357 Capital Appreciation, 2,721 shares (cost $29,661) 30,805 Income Builder, 4,508 shares (cost $49,413) 53,011 ----------- Total assets 5,450,533 LIABILITIES Payable to Northbrook Life Insurance Company: Accrued contract maintenance charges 1,303 ----------- Net assets $ 5,449,230 ----------- -----------
See notes to financial statements. NORTHBROOK VARIABLE ANNUITY ACCOUNT II
STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 1997 - ---------------------------------------------------------------------------------------------------------------------------------- ($ in thousands) Dean Witter Variable Investment Series Portfolios ------------------------------------------------------------------------------------------------------ Quality Money High Income Dividend Market Yield Equity Plus Strategist Growth Utilities ------------------------------------------------------------------------------------------------------ INVESTMENT INCOME Dividends $ 16,353 $ 34,268 $ 41,702 $ 27,402 $ 20,644 $ 99,490 $ 17,681 Charges from Northbrook Life Insurance Company: Mortality and expense risk (4,022) (3,549) (7,450) (5,127) (5,001) (18,630) (4,653) Administrative expense (316) (278) (583) (407) (396) (1,463) (370) --------- --------- --------- --------- --------- --------- --------- Net investment income (loss) 12,015 30,441 33,669 21,868 15,247 79,397 12,658 REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS Realized gains (losses) from sales of investments: Proceeds from sales 196,264 23,906 67,364 72,313 44,632 80,976 92,601 Cost of investments sold (196,264) (24,070) (53,203) (73,318) (38,107) (53,624) (76,667) --------- --------- --------- --------- --------- --------- --------- Net realized gains (losses) - (164) 14,161 (1,005) 6,525 27,352 15,934 --------- --------- --------- --------- --------- --------- --------- Change in unrealized gains (losses) - (2,116) 125,556 16,518 21,328 191,096 56,029 --------- --------- --------- --------- --------- --------- --------- Net gains (losses) on investments - (2,280) 139,717 15,513 27,853 218,448 71,963 --------- --------- --------- --------- --------- --------- --------- CHANGE IN NET ASSETS RESULTING FROM OPERATIONS $ 12,015 $ 28,161 $ 173,386 $ 37,381 $ 43,100 $ 297,845 $ 84,621 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- ---------
Dean Witter Variable Investment Series Portfolios ------------------------------------------------------------------------------------------------------ Global European Capital Dividend Pacific Capital Income Growth Growth Growth Growth Appreciation Builder Total ------------------------------------------------------------------------------------------------------ INVESTMENT INCOME Dividends $ 20,132 $ 11,049 $ 23,088 $ 1,707 $ - $ 1,239 $ 314,755 Charges from Northbrook Life Insurance Company: Mortality and expense risk (4,142) (1,254) (5,018) (1,368) (199) (283) (60,696) Administrative expense (326) (99) (394) (108) (15) (22) (4,777) --------- --------- --------- --------- --------- --------- --------- Net investment income (loss) 15,664 9,696 17,676 231 (214) 934 249,282 REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS Realized gains (losses) from sales of investments: Proceeds from sales 43,054 13,791 21,637 56,309 2,358 642 715,847 Cost of investments sold (30,764) (10,602) (17,642) (64,678) (2,200) (608) (641,747) --------- --------- --------- --------- --------- --------- --------- Net realized gains (losses) 12,290 3,189 3,995 (8,369) 158 34 74,100 --------- --------- --------- --------- --------- --------- --------- Change in unrealized gains (losses) 15,432 4,657 12,263 (35,707) 1,144 3,598 409,798 --------- --------- --------- --------- --------- --------- --------- Net gains (losses) on investments 27,722 7,846 16,258 (44,076) 1,302 3,632 483,898 --------- --------- --------- --------- --------- --------- --------- CHANGE IN NET ASSETS RESULTING FROM OPERATIONS $ 43,386 $ 17,542 $ 33,934 $ (43,845) $ 1,088 $ 4,566 $ 733,180 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- ---------
See notes to financial statements. NORTHBROOK VARIABLE ANNUITY ACCOUNT II
STATEMENT OF CHANGES IN NET ASSETS YEAR ENDED DECEMBER 31, 1997 - ---------------------------------------------------------------------------------------------------------------------------------- ($ and units in thousands, except value per unit) Dean Witter Variable Investment Series Portfolios ------------------------------------------------------------------------------------------------------ Quality Money High Income Dividend Market Yield Equity Plus Strategist Growth Utilities ------------------------------------------------------------------------------------------------------ FROM OPERATIONS Net investment income (loss) $ 12,015 $ 30,441 $ 33,669 $ 21,868 $ 15,247 $ 79,397 $ 12,658 Net realized gains (losses) - (164) 14,161 (1,005) 6,525 27,352 15,934 Change in unrealized gains (losses) - (2,116) 125,556 16,518 21,328 191,096 56,029 --------- --------- --------- --------- --------- ---------- --------- Change in net assets resulting from operations 12,015 28,161 173,386 37,381 43,100 297,845 84,621 FROM CAPITAL TRANSACTIONS Deposits 149,402 104,526 162,502 50,521 85,569 446,039 30,744 Benefit payments (9,812) (3,029) (4,642) (7,406) (4,738) (13,976) (6,217) Payments on termination (82,460) (34,243) (76,080) (55,141) (53,102) (185,959) (53,999) Contract maintenance charges (101) (123) (296) (182) (184) (748) (192) Transfers among the portfolios and with the Fixed Account - net (68,644) 13,062 30,461 (17,577) 6,753 59,898 (32,932) --------- --------- --------- --------- --------- ---------- --------- Change in net assets resulting from capital transactions (11,615) 80,193 111,945 (29,785) 34,298 305,254 (62,596) --------- --------- --------- --------- --------- ---------- --------- INCREASE (DECREASE) IN NET ASSETS 400 108,354 285,331 7,596 77,398 603,099 22,025 NET ASSETS AT BEGINNING OF PERIOD 300,834 228,184 451,183 415,471 346,239 1,143,544 387,513 --------- --------- --------- --------- --------- ---------- --------- NET ASSETS AT END OF PERIOD $ 301,234 $ 336,538 $ 736,514 $ 423,067 $ 423,637 $1,746,643 $ 409,538 --------- --------- --------- --------- --------- ---------- --------- --------- --------- --------- --------- --------- ---------- --------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 12.55 $ 26.65 $ 38.87 $ 17.98 $ 21.54 $ 32.59 $ 24.21 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 18,622 8,795 13,509 20,834 16,149 39,665 15,170 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 12.51 $ 26.57 $ 38.76 $ 17.93 $ 21.48 $ 32.50 $ 24.14 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 5,407 3,844 5,455 2,701 3,529 13,970 1,754 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- ---------
Dean Witter Variable Investment Series Portfolios ------------------------------------------------------------------------------------------------------ Global European Capital Dividend Pacific Capital Income Growth Growth Growth Growth Appreciation Builder Total ------------------------------------------------------------------------------------------------------ FROM OPERATIONS Net investment income (loss) $ 15,664 $ 9,696 $ 17,676 $ 231 $ (214) $ 934 $ 249,282 Net realized gains (losses) 12,290 3,189 3,995 (8,369) 158 34 74,100 Change in unrealized gains (losses) 15,432 4,657 12,263 (35,707) 1,144 3,598 409,798 --------- --------- --------- --------- --------- --------- ---------- Change in net assets resulting from operations 43,386 17,542 33,934 (43,845) 1,088 4,566 733,180 FROM CAPITAL TRANSACTIONS Deposits 87,645 24,982 128,566 15,672 18,352 31,208 1,335,728 Benefit payments (2,725) (910) (3,466) (1,262) (109) (165) (58,457) Payments on termination (37,732) (11,218) (41,571) (11,743) (944) (1,458) (645,650) Contract maintenance charges (148) (49) (199) (37) (12) (15) (2,286) Transfers among the portfolios and with the Fixed Account - net (3,726) 8,692 25,556 (26,769) 12,422 18,862 26,058 --------- --------- --------- --------- --------- --------- ---------- Change in net assets resulting from capital transactions 43,314 21,497 108,886 (24,139) 29,709 48,432 655,393 --------- --------- --------- --------- --------- --------- ---------- INCREASE (DECREASE) IN NET ASSETS 86,700 39,039 142,820 (67,984) 30,797 52,998 1,388,573 NET ASSETS AT BEGINNING OF PERIOD 271,305 78,594 307,464 130,326 - - 4,060,657 --------- --------- --------- --------- --------- --------- ---------- NET ASSETS AT END OF PERIOD $ 358,005 $ 117,633 $ 450,284 $ 62,342 $ 30,797 $ 52,998 $5,449,230 --------- --------- --------- --------- --------- --------- ---------- --------- --------- --------- --------- --------- --------- ---------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 27.87 $ 20.18 $ 15.30 $ 6.06 $ 11.18 $ 12.08 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 9,762 4,469 21,656 8,190 1,609 2,363 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 27.79 $ 20.12 $ 15.26 $ 6.04 $ 11.16 $ 12.07 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 3,091 1,365 7,789 2,105 1,148 2,025 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- ---------
See notes to financial statements. NORTHBROOK VARIABLE ANNUITY ACCOUNT II
STATEMENT OF CHANGES IN NET ASSETS YEAR ENDED DECEMBER 31, 1996 - ---------------------------------------------------------------------------------------------------------------------------------- ($ and units in thousands, except value per unit) Dean Witter Variable Investment Series Portfolios ------------------------------------------------------------------------------------------------------ Quality Money High Income Dividend Market Yield Equity Plus Strategist Growth Utilities ------------------------------------------------------------------------------------------------------ FROM OPERATIONS Net investment income (loss) $ 9,192 $ 19,006 $ 42,957 $ 23,023 $ 8,903 $ 31,688 $ 10,360 Net realized gains (losses) - (360) 1,623 (1,632) 1,212 3,058 8,482 Change in unrealized gains (losses) - (1,795) (7,081) (21,855) 30,151 152,104 8,559 --------- --------- --------- --------- --------- ---------- --------- Change in net assets resulting from operations 9,192 16,851 37,499 (464) 40,266 186,850 27,401 FROM CAPITAL TRANSACTIONS Deposits 167,498 83,674 131,579 52,568 42,708 266,005 37,371 Benefit payments (8,807) (2,069) (3,092) (7,512) (4,219) (9,022) (5,738) Payments on termination (37,294) (11,121) (23,766) (31,874) (23,127) (66,865) (32,116) Contract maintenance charges (109) (94) (207) (195) (172) (565) (217) Transfers among the portfolios and with the Fixed Account - net (39,281) 18,476 23,390 (37,007) (10,465) 38,681 (49,309) --------- --------- --------- --------- --------- ---------- --------- Change in net assets resulting from capital transactions 82,007 88,866 127,904 (24,020) 4,725 228,234 (50,009) --------- --------- --------- --------- --------- ---------- --------- INCREASE (DECREASE) IN NET ASSETS 91,199 105,717 165,403 (24,484) 44,991 415,084 (22,608) NET ASSETS AT BEGINNING OF PERIOD 209,635 122,467 285,780 439,955 301,248 728,460 410,121 --------- --------- --------- --------- --------- ---------- --------- NET ASSETS AT END OF PERIOD $ 300,834 $ 228,184 $ 451,183 $ 415,471 $ 346,239 $1,143,544 $ 387,513 --------- --------- --------- --------- --------- ---------- --------- --------- --------- --------- --------- --------- ---------- --------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 12.08 $ 24.15 $ 28.67 $ 16.40 $ 19.20 $ 26.30 $ 19.30 --------- --------- --------- --------- --------- ---------- --------- --------- --------- --------- --------- --------- ---------- --------- Units outstanding at end of period 21,477 7,989 13,438 24,233 17,132 38,903 19,259 --------- --------- --------- --------- --------- ---------- --------- --------- --------- --------- --------- --------- ---------- --------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 12.07 $ 24.11 $ 28.63 $ 16.38 $ 19.17 $ 26.26 $ 19.27 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 3,424 1,463 2,303 1,096 904 4,587 823 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- ---------
Dean Witter Variable Investment Series Portfolios ----------------------------------------------------------------------------- Global European Capital Dividend Pacific Growth Growth Growth Growth Total ----------------------------------------------------------------------------- FROM OPERATIONS Net investment income (loss) $ 7,751 $ 431 $ 7,678 $ (422) $ 160,567 Net realized gains (losses) 1,911 1,890 407 180 16,771 Change in unrealized gains (losses) 43,165 3,981 28,418 449 236,096 --------- --------- --------- --------- ---------- Change in net assets resulting from operations 52,827 6,302 36,503 207 413,434 FROM CAPITAL TRANSACTIONS Deposits 54,928 18,649 76,120 37,469 968,569 Benefit payments (1,847) (736) (2,137) (1,002) (46,181) Payments on termination (15,391) (5,821) (14,070) (7,379) (268,824) Contract maintenance charges (127) (39) (151) (74) (1,950) Transfers among the portfolios and with the Fixed Account - net 16,815 1,244 26,476 14,897 3,917 --------- --------- --------- --------- ---------- Change in net assets resulting from capital transactions 54,378 13,297 86,238 43,911 655,531 --------- --------- --------- --------- ---------- INCREASE (DECREASE) IN NET ASSETS 107,205 19,599 122,741 44,118 1,068,965 NET ASSETS AT BEGINNING OF PERIOD 164,100 58,995 184,723 86,208 2,991,692 --------- --------- --------- --------- ---------- NET ASSETS AT END OF PERIOD $ 271,305 $ 78,594 $ 307,464 $ 130,326 $4,060,657 --------- --------- --------- --------- ---------- --------- --------- --------- --------- ---------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 24.33 $ 16.42 $ 13.84 $ 9.86 --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 10,007 4,278 19,847 11,811 --------- --------- --------- --------- --------- --------- --------- --------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Net asset value per unit at end of period $ 24.30 $ 16.40 $ 13.82 $ 9.84 --------- --------- --------- --------- --------- --------- --------- --------- Units outstanding at end of period 1,144 509 2,364 1,412 --------- --------- --------- --------- --------- --------- --------- ---------
See notes to financial statements. NORTHBROOK VARIABLE ANNUITY ACCOUNT II NOTES TO FINANCIAL STATEMENTS TWO YEARS ENDED DECEMBER 31, 1997 - -------------------------------------------------------------------------------- 1. ORGANIZATION Northbrook Variable Annuity Account II (the "Account"), a unit investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, is a Separate Account of Northbrook Life Insurance Company ("Northbrook Life"). The assets of the Account are legally segregated from those of Northbrook Life. Northbrook Life is wholly owned by Allstate Life Insurance Company ("Allstate Life"), a wholly owned subsidiary of Allstate Insurance Company, which is wholly owned by The Allstate Corporation. Northbrook Life writes certain annuity contracts, the proceeds of which are invested at the direction of the contractholder. Contractholders primarily invest in units of the portfolios comprising the Account, for which they bear all of the investment risk, but may also invest in the general account of Northbrook Life. The Account, in turn, invests in shares of the portfolios of the Dean Witter Variable Investment Series ("Fund"). Northbrook Life provides administrative and insurance services to the Account for a fee. Dean Witter Reynolds, Inc. ("Dean Witter"), a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co., is the sole distributor of Northbrook Life's flexible premium deferred variable annuity contracts and certain single and flexible premium annuities. Dean Witter InterCapital, Inc. ("InterCapital"), a wholly owned subsidiary of Morgan Stanley, Dean Witter, Discover & Co., is the investment manager for the Fund. In October 1993, Allstate Life and Northbrook Life announced a strategic alliance to develop, market and distribute proprietary annuity and life insurance products through Dean Witter account executives. InterCapital receives investment management fees from the Fund. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES VALUATION OF INVESTMENTS - Investments consist of shares in the portfolios of the Fund and are stated at fair value based on quoted market prices. RECOGNITION OF INVESTMENT INCOME - Investment income consists of dividends declared by the portfolios of the Fund and is recognized on the date of record. REALIZED GAINS AND LOSSES - Realized gains and losses represent the difference between the proceeds from sales of shares by the Account and the cost of such shares, which is determined on a weighted average basis. CONTRACTHOLDER ACCOUNT ACTIVITY - Account activity is reflected in individual contractholder accounts on a daily basis. FEDERAL INCOME TAXES - The Account is intended to qualify as a segregated asset account as defined in the Internal Revenue Code ("Code"). As such, the operations of the Account are included with and taxed as a part of Northbrook Life. Northbrook Life is taxed as a life insurance company under the Code. Under current law, no federal income taxes are payable by the Account. ACCOUNT VALUE - Certain calculations that could be made in the financial statements may differ from published amounts due to truncation of actual Account values. 3. CONTRACT MAINTENANCE, MORTALITY AND EXPENSE RISK, ADMINISTRATIVE EXPENSE, AND ENHANCED DEATH BENEFIT CHARGES For each year or portion of a year a contract is in effect, Northbrook Life deducts a fixed annual contract maintenance charge of $30 as reimbursement for expenses related to the maintenance of each contract and the Account. The amount of this charge is guaranteed not to increase over the life of the contract. Northbrook Life assumes mortality and expense risks related to the operations of the Account and deducts charges daily at a rate equal to 1.25% per annum of the daily net assets of the Account. Northbrook Life guarantees that the amount of this charge will not increase over the life of the contract. Northbrook Life deducts administrative expense charges daily at a rate equal to .10% per annum of the daily net assets of the Account. This charge is designed to cover administrative expenses. Northbrook Life offers contractholders the choice of two death benefit options. The Enhanced Death Benefit option guarantees that the death benefit will provide a cumulative return greater than or equal to a specified level, while the Performance Death Benefit option guarantees that the death benefit will not be less than the contract's highest value on any anniversary (collectively, "Death Benefit Options"). For either death benefit, Northbrook Life deducts daily an additional charge equal to .13% per annum of the daily net assets of the Account which are attributable to contractholders who have elected the optional death benefit. 4. FINANCIAL INSTRUMENTS The investments of the Separate Accounts are carried at fair value, based upon quoted market prices. Accrued contract maintenance charges are of a short-term nature. It is assumed that their carrying value approximates fair value. 5. UNITS ISSUED AND REDEEMED Units issued and redeemed by the Account during 1997 for contracts with and without the Death Benefit Options were as follows:
DEAN WITTER VARIABLE INVESTMENT SERIES PORTFOLIOS -------------------------------------------------------------------------------- (Units in thousands) QUALITY MONEY HIGH INCOME DIVIDEND MARKET YIELD EQUITY PLUS STRATEGIST GROWTH UTILITIES -------------------------------------------------------------------------------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Units outstanding at beginning of period 21,477 7,989 13,438 24,233 17,132 38,903 19,259 Unit activity during 1997: Issued 13,675 2,640 3,203 1,824 2,408 7,783 759 Redeemed (16,530) (1,834) (3,132) (5,223) (3,391) (7,021) (4,848) ------- ------- ------- ------- ------- ------- ------- Units outstanding at end of period 18,622 8,795 13,509 20,834 16,149 39,665 15,170 ------- ------- ------- ------- ------- ------- ------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Units outstanding at beginning of period 3,424 1,463 2,303 1,096 904 4,587 823 Unit activity during 1997: Issued 9,358 2,883 3,851 2,005 2,953 10,318 1,131 Redeemed (7,375) (502) (699) (400) (328) (935) (200) ------- ------- ------- ------- ------- ------- ------- Units outstanding at end of period 5,407 3,844 5,455 2,701 3,529 13,970 1,754 ------- ------- ------- ------- ------- ------- ------- DEAN WITTER VARIABLE INVESTMENT SERIES PORTFOLIOS ------------------------------------------------------------------- (Units in thousands) GLOBAL EUROPEAN CAPITAL DIVIDEND PACIFIC CAPITAL INCOME GROWTH GROWTH GROWTH GROWTH APPRECIATION BUILDER ------------------------------------------------------------------- CONTRACTS WITHOUT THE DEATH BENEFIT OPTIONS Units outstanding at beginning of period 10,007 4,278 19,847 11,811 - - Unit activity during 1997: Issued 2,051 1,203 5,450 2,237 1,908 2,541 Redeemed (2,296) (1,012) (3,641) (5,858) (299) (178) ------- ------- ------- ------- ------- ------- Units outstanding at end of period 9,762 4,469 21,656 8,190 1,609 2,363 ------- ------- ------- ------- ------- ------- CONTRACTS WITH THE DEATH BENEFIT OPTIONS Units outstanding at beginning of period 1,144 509 2,364 1,412 - - Unit activity during 1997: Issued 2,332 1,051 5,991 2,560 1,266 2,086 Redeemed (385) (195) (566) (1,867) (118) (61) ------- ------- ------- ------- ------- ------- Units outstanding at end of period 3,091 1,365 7,789 2,105 1,148 2,025 ------- ------- ------- ------- ------- -------
Units relating to accrued contract maintenance charges are included in units redeemed. ****** PART C OTHER INFORMATION 24A. FINANCIAL STATEMENTS Northbrook Life Insurance Company Financial Statements and Northbrook Variable Annuity Account II Financial Statements are included in Part B of this Registration Statement. 24B. EXHIBITS The following exhibits, correspond to those required by paragraph (b) of item 24 as to exhibits in Form N-4: (1) Resolution of the Board of Directors of Northbrook Life Insurance Company authorizing establishment of the Variable Annuity Account II* (2) Not Applicable (3)(a) Underwriting Agreement* (b) Form of General Agency Agreement* (4)(a) Form of Contract and Certificate Amendments*,**,*** (5) Form of application for a Contract* (6)(a) Articles of Incorporation of Northbrook Life Insurance Company* (b) By-laws of Northbrook Life Insurance Company* (7) Not applicable (8) Form of Participation Agreement**** (9) Opinion of Robert S. Seiler, Senior Vice President, Secretary and General Counsel of Northbrook Life Insurance Company* (10)(a) Consent of Accountants (b) Consent of Attorneys***** (11) Not applicable (12) Form of Agreement to Purchase Shares* (13) Performance Data Calculations (99) Powers of Attorney* - ------------------------ * Previously filed in Form N-4 Registration Statement No. 33-35412 dated December 31, 1996 and incorporated by reference. ** Previously filed in Form N-4 Registration Statement No. 33-35412 dated February 28, 1997 and incorporated by reference. *** Previously filed in Form N-4 Registration Statement No. 33-35412 dated November 20, 1997 and incorporated by reference. **** Previously filed in Form N-4 Registration Statement No. 33-35412 dated April 30, 1996 and incorporated by reference. ***** Previously filed in Form N-4 Registration Statement No. 33-35412 dated June 14, 1990 and incorporated by reference. 25. DIRECTORS AND OFFICERS OF THE DEPOSITOR
NAME AND PRINCIPAL BUSINESS ADDRESS POSITION AND OFFICE WITH DEPOSITOR OF THE TRUST - ------------------ ----------------------------------------------- Louis G. Lower, II Chairman of the Board of Directors and Chief Executive Officer Michael J. Velotta Director, Vice President, Secretary and General Counsel Peter H. Heckman Director, President and Chief Operating Officer Marla G. Friedman Vice President John R. Hunter Director and Assistant Vice President Kevin R. Slawin Director and Vice President Casey J. Sylla Director and Chief Investment Officer Karen C. Gardner Vice President James P. Zils Treasurer Keith A. Hauschildt Assistant Vice President and Controller Sarah R. Donahue Assistant Vice President Ronald Johnson Assistant Vice President Barry S. Paul Assistant Vice President Emma M. Kalaidjian Assistant Secretary Paul N. Kierig Assistant Secretary Mary J. McGinn Assistant Secretary Robert N. Roeters Assistant Vice President Brenda D. Sneed Assistant Secretary and Assistant General Counsel C. Nelson Strom Assistant Vice President and Corporate Actuary Charles F. Thalheimer Assistant Vice President Nancy M. Bufalino Assistant Treasurer Patricia A. Wilson Assistant Vice President, Assistant Secretary and Assistant Treasurer
The principal business address of the foregoing officers and directors is 3100 Sanders Road, Northbrook, Illinois 60062. 26. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH DEPOSITOR OR REGISTRANT See 10-K Commission File #1-11840, The Allstate Corporation. 27. NUMBER OF CONTRACT OWNERS As of December 31, 1997 there were in force 13,838 qualified and 75,462 non-qualified contracts. The Registrant began operations on October 25, 1990. 28. INDEMNIFICATION The General Agency Agreement (Exhibit 3(b)) has a provision in which Northbrook Life agrees to indemnify Dean Witter Reynolds as Underwriter for certain damages and expenses that may be caused by actions, statements or omissions by Northbrook Life. The Agreement to Purchase Shares contains a similar provision in paragraph 16 of Exhibit 12. Insofar as indemnification for liability arising out of the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than payment by the registrant of expenses incurred by a director, officer or controlling person of the registrant in the successful defense of any action, suit, or proceeding) is asserted such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. 29A. RELATIONSHIP OF PRINCIPAL UNDERWRITER TO OTHER INVESTMENT COMPANIES Dean Witter Reynolds Inc. is the principal underwriter for the following investment companies: Dean Witter Offshore Money Market Fund Various Unit Investment Trusts Various Variable Annuities 29B. PRINCIPAL UNDERWRITER
NAME AND PRINCIPAL BUSINESS ADDRESS OF EACH SUCH PERSON POSITIONS AND OFFICES WITH UNDERWRITER - --------------------------- -------------------------------------- Dean Witter Reynolds Inc. Underwriter ("Dean Witter") Philip J. Purcell Chairman, Chief Executive Officer and Director Richard M. Demartini President, Chief Operating Officer and Director, Dean Witter Capital James F. Higgins President and Chief Operating Officer and Director, Dean Witter Financial Stephen R. Miller Senior Executive Vice President and Director Raymond J. Drop Executive Vice President Robert J. Dwyer Executive Vice President, National Sales Director and Director Christine A. Edwards Executive Vice President, Secretary, General Counsel and Director Charles A. Fiumefreddo Executive Vice President and Director Frederick J. Frohne Executive Vice President Alfred J. Golden Executive Vice President E. Davisson Hardman, Jr. Executive Vice President Mitchell M. Merin Executive Vice President, Chief Administrative Officer and Director Laurence E. Mollner Executive Vice President Jeremiah A. Mullins Executive Vice President Richard F. Powers, III Executive Vice President and Director John H. Schaefer Executive Vice President Thomas C. Schneider Executive Vice President, Chief Financial Officer and Director Robert B. Sculthorpe Executive Vice President William B. Smith Executive Vice President and Director Samule H. Wolcott, III Executive Vice President Anthony Basile Senior Vice President Ronald T. Carman Senior Vice President, Associate General Counsel and Assistant Secretary Michael T. Cunningham Senior Vice President Mary E. Curran Senior Vice President David Diaz Senior Vice President Raymond F. Douglas Senior Vice President Paul J. Dubow Senior Vice President and Deputy General Counsel Michael T. Gregg Senior Vice President and Deputy General Counsel Erick R. Holt Senior Vice President and Assistant Secretary Birendra Kumar Senior Vice President and Treasurer George R. Ross Senior Vice President Robert P. Seass Senior Vice President Joseph G. Siniscalchi Senior Vice President and Controller, Dean Witter Financial Michael H. Stone Senior Vice President Lawrence Volpe Senior Vice President and Controller, Dean Witter Reynolds Inc. and Dean Witter Capital Lorena J. Kern Senior Vice President Kathryn M. McNamara Senior Vice President and Director of Governmental Affairs Michael D. Browne Assistant Secretary Linda M. Butler Assistant Secretary Marilyn Cranney Assistant Secretary Sheldon Curtis Assistant Secretary Barry Fink Assistant Secretary Sabrina Hurley Assistant Secretary Barbara B. Kiley Assistant Secretary
The principal business address of Dean Witter and the foregoing directors and officers is Two World Trade Center, New York, New York 10048. 29C. COMPENSATION OF DEAN WITTER The following commissions and other compensation were received by each principal underwriter, directly or indirectly, from the Registrant during the Registrant's last fiscal year:
(1) (2) (3) (4) (5) NET COMPENSATION UNDERWRITING OR REDEMPTION NAME OF DISCOUNTS AND OR BROKERAGE PRINCIPAL COMMISSIONS ANNUITIZATION COMMISSIONS COMPENSATION - ------------- ------------- -------------- ----------- ------------ Dean Witter Reynolds Inc. $81,393,283
30. LOCATION OF ACCOUNTS AND RECORDS Northbrook Life Insurance Company 3100 Sanders Road Northbrook, Illinois 60062 31. MANAGEMENT SERVICES None 32. UNDERTAKINGS The Registrant promises to file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted. Registrant furthermore agrees to include either as part of any application to purchase a contract offered by the prospectus, a space that an applicant can check to request a Statement of Additional Information or a post card or similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information. Finally, the Registrant agrees to deliver any Statement of Additional Information and any Financial Statements required to be made available under this Form N-4 promptly upon written or oral request. 33. REPRESENTATIONS PURSUANT TO SECTION 403(B) OF THE INTERNAL REVENUE CODE The Company represents that it is relying upon a November 28, 1988 Securities and Exchange Commission no-action letter issued to the American Council of Life Insurance ("ACLI") and that the provisions of paragraphs 1-4 of the no-action letter have been complied with. 34. REPRESENTATION REGARDING CONTRACT EXPENSES Northbrook Life Insurance Company ("Northbrook Life") represents that the fees and charges deducted under the Group and Individual Variable Annuity Contracts hereby registered by this Registration Statement, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Northbrook Life. SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, Northbrook Variable Annuity Account II, certifies that it meets the requirements of Securities Act Rule 485 (b) for effectiveness of this amended Registration Statement and has caused this amended Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, and its seal to be hereunto affixed and attested, all in the Township of Northfield, State of Illinois, on the 3rd day of March, 1998. NORTHBROOK VARIABLE ANNUITY ACCOUNT II (REGISTRANT) BY: NORTHBROOK LIFE INSURANCE COMPANY (DEPOSITOR) (SEAL) Attest: /S/ BRENDA D. SNEED By: /S/ MICHAEL J. VELOTTA --------------------------- ------------------------------------ Brenda D. Sneed Michael J. Velotta Assistant Secretary Vice President, Secretary and And Assistant General Counsel General Counsel As required by the Securities Act of 1933, this amended Registration Statement has been duly signed below by the following Directors and Officers of Northbrook Life Insurance Company on the 3rd day of March, 1998. */LOUIS G. LOWER, II Chairman of the Board of Directors and - ------------------------ Chief Executive Officer Louis G. Lower, II (Principal Executive Officer) /S/ MICHAEL J. VELOTTA Vice President, Secretary, General - ------------------------ Counsel and Director Michael J. Velotta */PETER H. HECKMAN President, Chief Operating Officer - ------------------------ and Director Peter H. Heckman */JOHN R. HUNTER Assistant Vice President - ------------------------ and Director John R. Hunter */KEVIN R. SLAWIN Vice President and Director - ------------------------ (Principal Financial Officer) Kevin R. Slawin */CASEY J. SYLLA Chief Investment Officer and Director - ------------------------ Casey J. Sylla */MARLA G. FRIEDMAN Vice President - ------------------------ Marla G. Friedman */KAREN C. GARDNER Vice President - ------------------------ Karen C. Gardner */JAMES P. ZILS Treasurer - ------------------------ James P. Zils */KEITH A. HAUSCHILDT Assistant Vice President and Controller - ------------------------ (Principal Accounting Officer) Keith A. Hauschildt */ By Michael J. Velotta, pursuant to Power of Attorney, previously filed. EX-10.(A) 2 EXHIBIT 10(A) Exhibit 10(a) INDEPENDENT AUDITORS' CONSENT We consent to the use in this Post-Effective Amendment No. 16 to Registration Statement No. 033-35412 of Northbrook Variable Annuity Account II of Northbrook Life Insurance Company on Form N-4 of our report February 20, 1998, relating to the financial statements of Northbrook Variable Annuity Account II for the year ended December 31, 1997, contained in the Statement of Additional Information, which is part of this Registration Statement, and to the reference to us under the heading "Experts" in such Registration Statement. /s/ Deloitte & Touche LLP Chicago, Illinois February 26, 1998 EX-13 3 EXHIBIT 13
NLIC VAII MONEY MARKET 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 12.083835 82.75518492 FEE 12/31/97 0.448 12.545891 0.035708903 RESULTING VALUE 12/31/97 12.545891 82.71947602 1037.79 1 FORMULA: 1000*(1+T)= $ 1,037.79 - (0.85 * 1000 * 0.05) = $ 995.29 T = -0.47% R = -0.47%
NLIC VAII HIGH YIELD 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 24.14829 41.41079969 FEE 12/31/97 0.448 26.651638 0.016809473 RESULTING VALUE 12/31/97 26.651638 41.39399021 1103.218 1 FORMULA: 1000*(1+T)= $ 1,103.22 - (0.85 * 1000 * 0.05) = $ 1,060.72 T = 6.07% R = 6.07%
NLIC VAII EQUITY 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 28.669371 34.88043041 FEE 12/31/97 0.448 38.873354 0.011524604 RESULTING VALUE 12/31/97 38.873354 34.8689058 1355.471 1 FORMULA: 1000*(1+T)= $ 1,355.47 - (0.85 * 1000 * 0.05) = $ 1,312.97 T = 31.30% R = 31.30%
NLIC VAII QUALITY INCOME 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.403816 60.96142507 FEE 12/31/97 0.448 17.982521 0.024913081 RESULTING VALUE 12/31/97 17.982521 60.93651199 1095.792 1 FORMULA: 1000*(1+T)= $ 1,095.79 - (0.85 * 1000 * 0.05) = $ 1,053.29 T = 5.33% R = 5.33%
NLIC VAII STRATEGIST 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 19.1987 52.08686005 FEE 12/31/97 0.448 21.539863 0.020798647 RESULTING VALUE 12/31/97 21.539863 52.0660614 1121.496 1 FORMULA: 1000*(1+T)= $ 1,121.50 - (0.85 * 1000 * 0.05) = $ 1,079.00 T = 7.90% R = 7.90%
NLIC VAII DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 26.298448 38.0250576 FEE 12/31/97 0.448 32.589936 0.013746575 RESULTING VALUE 12/31/97 32.589936 38.01131103 1238.786 1 FORMULA: 1000*(1+T)= $ 1,238.79 - (0.85 * 1000 * 0.05) = $ 1,196.29 T = 19.63% R = 19.63%
NLIC VAII UTILITIES 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 19.297511 51.82015442 FEE 12/31/97 0.448 24.208448 0.018505936 RESULTING VALUE 12/31/97 24.208448 51.80164849 1254.038 1 FORMULA: 1000*(1+T)= $ 1,254.04 - (0.85 * 1000 * 0.05) = $ 1,211.54 T = 21.15% R = 21.15%
NLIC VAII EUROPEAN GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 24.33484 41.093346 FEE 12/31/97 0.448 27.870064 0.016074595 RESULTING VALUE 12/31/97 27.870064 41.07727141 1144.826 1 FORMULA: 1000*(1+T)= $ 1,144.83 - (0.85 * 1000 * 0.05) = $ 1,102.33 T = 10.23% R = 10.23%
NLIC VAII CAPITAL GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.421498 60.89578429 FEE 12/31/97 0.448 20.17734 0.022203125 RESULTING VALUE 12/31/97 20.17734 60.87358117 1228.267 1 FORMULA: 1000*(1+T)= $ 1,228.27 - (0.85 * 1000 * 0.05) = $ 1,185.77 T = 18.58% R = 18.58%
NLIC VAII PACIFIC GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.858203 101.4383656 FEE 12/31/97 0.448 6.059243 0.073936629 RESULTING VALUE 12/31/97 6.059243 101.364429 614.1917 1 FORMULA: 1000*(1+T)= $ 614.19 - (0.85 * 1000 * 0.05) = $ 571.69 T = -42.83% R = -42.83%
NLIC VAII GLOBAL DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.844714 72.22973331 FEE 12/31/97 0.448 15.303559 0.029274236 RESULTING VALUE 12/31/97 15.303559 72.20045908 1104.924 1 FORMULA: 1000*(1+T)= $ 1,104.92 - (0.85 * 1000 * 0.05) = $ 1,062.42 T = 6.24% R = 6.24%
NLIC VAII CAPITAL APPRECIATION 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 11.176955 0.040082473 RESULTING VALUE 12/31/97 11.176955 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 12.083732 0.037074639 RESULTING VALUE 12/31/97 12.083732 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 13.127931 0.034125713 RESULTING VALUE 12/31/97 13.127931 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 10.588201 0.042311248 RESULTING VALUE 12/31/97 10.588201 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.764247 102.4144514 FEE 12/31/97 0.448 9.662961 0.0463626 RESULTING VALUE 12/31/97 9.662961 102.3680888 989.1788 1 FORMULA: 1000*(1+T)= $ 989.18 - (0.85 * 1000 * 0.05) = $ 946.68 T = -5.33% R = -5.33%
NLIC VAII EMERGING GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.386945 74.69964208 FEE 12/31/97 0.448 15.905074 0.028167112 RESULTING VALUE 12/31/97 15.905074 74.67147496 1187.655 1 FORMULA: 1000*(1+T)= $ 1,187.66 - (0.85 * 1000 * 0.05) = $ 1,145.16 T = 14.52% R = 14.52%
NLIC VAII MONEY MARKET 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.764714 92.89610481 FEE 12/31/93 0.448 10.913226 0.041051106 FEE 12/31/94 0.448 11.182786 0.040061573 FEE 12/31/95 0.448 11.65311 0.038444673 FEE 12/31/96 0.448 12.083835 0.037074323 FEE 12/31/97 0.448 12.545891 0.035708903 RESULTING VALUE 12/31/97 12.545891 92.70376423 1163.051321 5 FORMULA: 1000*(1+T)= $ 1,163.05 - (0.85 * 1000 * 0.01) = $ 1,154.55 T = 2.92% R = 15.46%
NLIC VAII HIGH YIELD 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.335603 61.21598327 FEE 12/31/93 0.448 20.022205 0.022375158 FEE 12/31/94 0.448 19.314985 0.023194427 FEE 12/31/95 0.448 21.859326 0.020494685 FEE 12/31/96 0.448 24.14829 0.018552038 FEE 12/31/97 0.448 26.651638 0.016809473 RESULTING VALUE 12/31/97 26.651638 61.11455749 1628.803063 5 FORMULA: 1000*(1+T)= $ 1,628.80 - (0.85 * 1000 * 0.01) = $ 1,620.30 T = 10.13% R = 62.03%
NLIC VAII EQUITY 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.599155 60.24403049 FEE 12/31/93 0.448 19.604447 0.022851958 FEE 12/31/94 0.448 18.189346 0.024629803 FEE 12/31/95 0.448 25.863867 0.017321462 FEE 12/31/96 0.448 28.669371 0.015626433 FEE 12/31/97 0.448 38.873354 0.011524604 RESULTING VALUE 12/31/97 38.873354 60.15207623 2338.312953 5 FORMULA: 1000*(1+T)= $ 2,338.31 - (0.85 * 1000 * 0.01) = $ 2,329.81 T = 18.43% R = 132.98%
NLIC VAII QUALITY INCOME 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 12.993017 76.96441866 FEE 12/31/93 0.448 14.486819 0.030924663 FEE 12/31/94 0.448 13.311063 0.033656215 FEE 12/31/95 0.448 16.373027 0.027362075 FEE 12/31/96 0.448 16.403816 0.027310718 FEE 12/31/97 0.448 17.982521 0.024913081 RESULTING VALUE 12/31/97 17.982521 76.8202519 1381.421793 5 FORMULA: 1000*(1+T)= $ 1,381.42 - (0.85 * 1000 * 0.01) = $ 1,372.92 T = 6.54% R = 37.29%
NLIC VAII STRATEGIST 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 14.034777 71.25157742 FEE 12/31/93 0.448 15.285892 0.02930807 FEE 12/31/94 0.448 15.687325 0.028558088 FEE 12/31/95 0.448 16.919048 0.026479031 FEE 12/31/96 0.448 19.1987 0.023334913 FEE 12/31/97 0.448 21.539863 0.020798647 RESULTING VALUE 12/31/97 21.539863 71.12309867 1531.981802 5 FORMULA: 1000*(1+T)= $ 1,531.98 - (0.85 * 1000 * 0.01) = $ 1,523.48 T = 8.78% R = 52.35%
NLIC VAII DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 14.844196 67.36639694 FEE 12/31/93 0.448 16.746027 0.026752614 FEE 12/31/94 0.448 16.068087 0.027881353 FEE 12/31/95 0.448 21.504641 0.020832712 FEE 12/31/96 0.448 26.298448 0.017035226 FEE 12/31/97 0.448 32.589936 0.013746575 RESULTING VALUE 12/31/97 32.589936 67.26014846 2192.003934 5 FORMULA: 1000*(1+T)= $ 2,192.00 - (0.85 * 1000 * 0.01) = $ 2,183.50 T = 16.90% R = 118.35%
NLIC VAII UTILITIES 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 13.840391 72.25229403 FEE 12/31/93 0.448 15.797759 0.028358453 FEE 12/31/94 0.448 14.189948 0.031571645 FEE 12/31/95 0.448 17.998758 0.024890606 FEE 12/31/96 0.448 19.297511 0.023215429 FEE 12/31/97 0.448 24.208448 0.018505936 RESULTING VALUE 12/31/97 24.208448 72.12575196 1746.052516 5 FORMULA: 1000*(1+T)= $ 1,746.05 - (0.85 * 1000 * 0.01) = $ 1,737.55 T = 11.68% R = 73.76%
NLIC VAII EUROPEAN GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.280422 97.27227151 FEE 12/31/93 0.448 14.289849 0.031350926 FEE 12/31/94 0.448 15.296029 0.029288647 FEE 12/31/95 0.448 18.975848 0.023608958 FEE 12/31/96 0.448 24.33484 0.018409819 FEE 12/31/97 0.448 27.870064 0.016074595 RESULTING VALUE 12/31/97 27.870064 97.15353856 2707.675338 5 FORMULA: 1000*(1+T)= $ 2,707.68 - (0.85 * 1000 * 0.01) = $ 2,699.18 T = 21.97% R = 169.92%
NLIC VAII CAPITAL GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 12.731456 78.54561175 FEE 12/31/93 0.448 11.682455 0.038348104 FEE 12/31/94 0.448 11.32227 0.039568037 FEE 12/31/95 0.448 14.92275 0.030021276 FEE 12/31/96 0.448 16.421498 0.027281311 FEE 12/31/97 0.448 20.17734 0.022203125 RESULTING VALUE 12/31/97 20.17734 78.3881899 1581.66516 5 FORMULA: 1000*(1+T)= $ 1,581.67 - (0.85 * 1000 * 0.01) = $ 1,573.17 T = 9.49% R = 57.32%
NLIC VAII PACIFIC GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.129646 0.049070906 FEE 12/31/95 0.448 9.619002 0.046574478 FEE 12/31/96 0.448 9.858203 0.045444388 FEE 12/31/97 0.448 6.059243 0.073936629 RESULTING VALUE 12/31/97 6.059243 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII GLOBAL DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.894112 0.045279455 FEE 12/31/95 0.448 11.934841 0.037537157 FEE 12/31/96 0.448 13.844714 0.032358921 FEE 12/31/97 0.448 15.303559 0.029274236 RESULTING VALUE 12/31/97 15.303559 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII CAPITAL APPRECIATION 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 11.176955 0.040082473 RESULTING VALUE 12/31/97 11.176955 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 12.083732 0.037074639 RESULTING VALUE 12/31/97 12.083732 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 13.127931 0.034125713 RESULTING VALUE 12/31/97 13.127931 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 10.588201 0.042311248 RESULTING VALUE 12/31/97 10.588201 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 9.764247 0.045881674 FEE 12/31/97 0.448 9.662961 0.0463626 RESULTING VALUE 12/31/97 9.662961 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 11.632799 0.038511798 FEE 12/31/96 0.448 13.386945 0.03346544 FEE 12/31/97 0.448 15.905074 0.028167112 RESULTING VALUE 12/31/97 15.905074 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII MONEY MARKET 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 10.484979 0.042727792 0.06 2 FEE 10/25/92 0.448 10.732236 0.041743398 0.05 3 FEE 10/25/93 0.448 10.885812 0.041154486 0.04 4 10/25/94 0.448 11.106634 0.040336253 0.03 5 10/25/95 0.448 11.572726 0.038711709 0.02 6 10/25/96 0.448 12.003612 0.037322099 0.01 7 10/25/97 0.448 12.456143 0.03596619 0 8 12/31/97 0.448 12.545891 0.035708903 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.545891 99.68632917 1250.65382 7.18412 FORMULA: 1000*(1+T)= 1250.65382 = 1250.65382 T = 0.0316 R = 0.2507
NLIC VAII HIGH YIELD 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 13.900601 0.032228822 0.06 2 FEE 10/25/92 0.448 16.311352 0.027465534 0.05 3 FEE 10/25/93 0.448 19.350163 0.02315226 0.04 4 10/25/94 0.448 19.319826 0.023188615 0.03 5 10/25/95 0.448 21.533545 0.020804749 0.02 6 10/25/96 0.448 23.660974 0.018934132 0.01 7 10/25/97 0.448 26.41058 0.016962899 0 8 12/31/97 0.448 26.651638 0.016809473 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 26.651638 99.82045352 2660.378592 7.18412 FORMULA: 1000*(1+T)= 2660.378592 = 2660.378592 T = 0.1459 R = 1.6604
NLIC VAII EQUITY 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 14.558444 0.030772519 0.06 2 FEE 10/25/92 0.448 15.176037 0.029520223 0.05 3 FEE 10/25/93 0.448 19.940376 0.022466979 0.04 4 10/25/94 0.448 18.441703 0.024292767 0.03 5 10/25/95 0.448 24.16712 0.018537583 0.02 6 10/25/96 0.448 27.938718 0.016035095 0.01 7 10/25/97 0.448 38.175337 0.011735325 0 8 12/31/97 0.448 38.873354 0.011524604 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 38.873354 99.8351149 3880.925763 7.18412 FORMULA: 000*(1+T)= 3880.925763 = 3880.925763 T = 0.2078 R = 2.8809
NLIC VAII QUALITY INCOME 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 11.516999 0.038899022 0.06 2 FEE 10/25/92 0.448 12.659574 0.035388237 0.05 3 FEE 10/25/93 0.448 14.651036 0.030578042 0.04 4 10/25/94 0.448 13.141206 0.034091239 0.03 5 10/25/95 0.448 15.793355 0.02836636 0.02 6 10/25/96 0.448 16.148615 0.027742317 0.01 7 10/25/97 0.448 17.588903 0.025470605 0 8 12/31/97 0.448 17.982521 0.024913081 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 17.982521 99.7545511 1793.83831 7.18412 FORMULA: 1000*(1+T)= 1793.83831 = 1793.83831 T = 0.0847 R = 0.7938
NLIC VAII STRATEGIST 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 12.36417 0.03623373 0.06 2 FEE 10/25/92 0.448 13.52122 0.033133105 0.05 3 FEE 10/25/93 0.448 15.087496 0.029693463 0.04 4 10/25/94 0.448 15.588566 0.028739013 0.03 5 10/25/95 0.448 16.438719 0.027252732 0.02 6 10/25/96 0.448 18.442834 0.024291278 0.01 7 10/25/97 0.448 21.645297 0.020697337 0 8 12/31/97 0.448 21.539863 0.020798647 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 21.539863 99.7791607 2149.229452 7.18412 FORMULA: 1000*(1+T)= 2149.229452 = 2149.229452 T = 0.1124 R = 1.1492
NLIC VAII DIVIDEND GROWTH 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 13.078903 0.034253637 0.06 2 FEE 10/25/92 0.448 14.34414 0.031232266 0.05 3 FEE 10/25/93 0.448 16.443098 0.027245474 0.04 4 10/25/94 0.448 16.165797 0.027712831 0.03 5 10/25/95 0.448 20.140294 0.022243965 0.02 6 10/25/96 0.448 24.878626 0.018007425 0.01 7 10/25/97 0.448 32.326525 0.013858588 0 8 12/31/97 0.448 32.589936 0.013746575 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.589936 99.81169924 3252.85689 7.18412 FORMULA: 1000*(1+T)= 3252.85689 = 3252.85689 T = 0.1784 R = 2.2529
NLIC VAII UTILITIES 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10 100 1 FEE 10/25/91 0.448 11.620536 0.038552439 0.06 2 FEE 10/25/92 0.448 12.997689 0.034467666 0.05 3 FEE 10/25/93 0.448 16.219874 0.027620437 0.04 4 10/25/94 0.448 14.343211 0.031234289 0.03 5 10/25/95 0.448 17.023609 0.026316394 0.02 6 10/25/96 0.448 18.520112 0.024189919 0.01 7 10/25/97 0.448 21.894505 0.020461755 0 8 12/31/97 0.448 24.208448 0.018505936 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 24.208448 99.77865117 2415.486288 7.18412 FORMULA: 1000*(1+T)= 2415.486288 = 2415.486288 T = 0.1306 R = 1.4155
NLIC VAII EUROPEAN GROWTH 03/01/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 03/01/91 1000 10 100 1 FEE 03/01/92 0.448 10.306403 0.043468124 0.06 2 FEE 03/01/93 0.448 10.74421 0.041696877 0.05 3 FEE 03/01/94 0.448 14.776559 0.03031829 0.04 4 03/01/95 0.448 15.668384 0.02859261 0.03 5 03/01/96 0.448 19.936189 0.022471697 0.02 6 03/01/97 0.448 24.428221 0.018339444 0.01 7 12/31/97 0.448 27.870064 0.016074595 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.870064 99.79903836 2781.405586 6.836413 FORMULA: 1000*(1+T)= 2781.405586 = 2781.405586 T = 0.1614 R = 1.7814
NLIC VAII CAPITAL GROWTH 03/01/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 03/01/91 1000 10 100 1 FEE 03/01/92 0.448 12.141744 0.0368975 0.06 2 FEE 03/01/93 0.448 11.843745 0.037825873 0.05 3 FEE 03/01/94 0.448 11.745794 0.038141313 0.04 4 03/01/95 0.448 12.152051 0.036866205 0.03 5 03/01/96 0.448 15.739179 0.028464001 0.02 6 03/01/97 0.448 16.887591 0.026528354 0.01 7 12/31/97 0.448 20.17734 0.022203125 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 20.17734 99.77307363 2013.155229 6.836413 FORMULA: 1000*(1+T)= 2013.155229 = 2013.155229 T = 0.1078 R = 1.0132
NLIC VAII PACIFIC GROWTH 02/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 02/22/94 1000 10 100 1 FEE 02/22/95 0.448 8.627411 0.051927513 0.06 2 FEE 02/22/96 0.448 10.401149 0.043072164 0.05 3 FEE 02/22/97 0.448 9.957804 0.044989839 0.04 4 12/31/97 0.448 6.059243 0.073936629 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.059243 99.78607385 604.6280695 3.854894 FORMULA: 1000*(1+T)= 604.6280695 = 579.1280695 T = -0.1321 R = -0.4209
NLIC VAII GLOBAL DIVIDEND GROWTH 02/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 02/22/94 1000 10 100 1 FEE 02/22/95 0.448 9.976816 0.044904106 0.06 2 FEE 02/22/96 0.448 12.277775 0.036488696 0.05 3 FEE 02/22/97 0.448 13.891783 0.03224928 0.04 4 12/31/97 0.448 15.303559 0.029274236 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.303559 99.85708368 1528.168772 3.854894 FORMULA: 1000*(1+T)= 1528.168772 = 1502.668772 T = 0.1114 R = 0.5027
NLIC VAII CAPITAL APPRECIATION 01/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 01/21/97 1000 10 100 1 FEE 12/31/97 0.448 11.176955 0.040082473 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.176955 99.95991753 1117.2475 0.941821 FORMULA: 1000*(1+T)= 1117.2475 = 1066.2475 T = 0.0705 R = 0.0662
NLIC VAII INCOME BUILDER 01/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 01/21/97 1000 10 100 1 FEE 12/31/97 0.448 12.083732 0.037074639 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.083732 99.96292536 1207.9252 0.941821 FORMULA: 1000*(1+T)= 1207.9252 = 1156.9252 T = 0.1674 R = 0.1569
NLIC VAII EQUITY GROWTH 01/02/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 01/02/97 1000 10 100 1 FEE 12/31/97 0.448 13.127931 0.034125713 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.127931 99.96587429 1312.3451 0.99384 FORMULA: 1000*(1+T)= 1312.3451 = 1261.3451 T = 0.2632 R = 0.2613
NLIC VAII INTERNATIONAL MAGNUM 01/02/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 01/02/97 1000 10 100 1 FEE 12/31/97 0.448 10.588201 0.042311248 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.588201 99.95768875 1058.3721 0.99384 FORMULA: 1000*(1+T)= 1058.3721 = 1007.3721 T = 0.0074 R = 0.0074
NLIC VAII EMERGING MARKETS 10/01/96 TO NO. YEARS 1.24846 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/01/96 1000 10 100 1 FEE 10/01/97 0.448 11.939048 0.03752393 0.06 2 FEE 12/31/97 0.448 9.662961 0.0463626 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.662961 99.91611347 965.4855077 1.24846 FORMULA: 1000*(1+T)= 965.4855077 = 922.9855077 T = -0.0622 R = -0.077
NLIC VAII EMERGING GROWTH 07/03/95 TO NO. YEARS 2.49692 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 07/03/95 1000 10 100 1 FEE 07/03/96 0.448 13.545823 0.033072926 0.06 2 FEE 07/03/97 0.448 14.804874 0.030260305 0.05 3 FEE 12/31/97 0.448 15.905074 0.028167112 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.905074 99.90849966 1589.05208 2.49692 FORMULA: 1000*(1+T)= 1589.05208 = 1555.05208 T = 0.1934 R = 0.5551
NLIC VAII MONEY MARKET 31-Dec-87 TO NO. YEARS 10.000 31-Dec-97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 31-Dec-87 1000.00 8.341159 119.88742 FEE 31-Dec-88 0.448 8.824322 0.05077 FEE 31-Dec-89 0.448 9.494579 0.04718 FEE 31-Dec-90 0.448 10.110932 0.04431 FEE 31-Dec-91 0.448 10.549114 0.04247 FEE 31-Dec-92 0.448 10.764714 0.04162 FEE 31-Dec-93 0.448 10.913226 0.04105 FEE 31-Dec-94 0.448 11.182786 0.04006 FEE 31-Dec-95 0.448 11.653110 0.03844 FEE 31-Dec-96 0.448 12.083835 0.03707 FEE 31-Dec-97 0.448 12.545891 0.03571 RESULTING VALUE 31-Dec-97 12.545891 119.46873 1498.8416 10.000 FORMULA: 1000*(1+T)= 1498.8416 - (0.85 * 1000 * 0) = 1498.841639 T = 4.13% R = 49.88%
NLIC VAII HIGH YIELD 31-Dec-87 TO NO. YEARS 10.000 31-Dec-97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 31-Dec-87 1000.00 13.096025 76.35905 FEE 31-Dec-88 0.448 14.344388 0.03123 FEE 31-Dec-89 0.448 12.370551 0.03622 FEE 31-Dec-90 0.448 8.932412 0.05015 FEE 31-Dec-91 0.448 13.981604 0.03204 FEE 31-Dec-92 0.448 16.335603 0.02742 FEE 31-Dec-93 0.448 20.022205 0.02238 FEE 31-Dec-94 0.448 19.314985 0.02319 FEE 31-Dec-95 0.448 21.859326 0.02049 FEE 31-Dec-96 0.448 24.148290 0.01855 FEE 31-Dec-97 0.448 26.651638 0.01681 RESULTING VALUE 31-Dec-97 26.651638 76.08055 2027.6714 10.000 FORMULA: 1000*(1+T)= 2027.6714 - (0.85 * 1000 * 0) = 2027.671385 T = 7.32% R = 102.77%
NLIC VAII EQUITY 31-Dec-87 TO NO. YEARS 10.000 31-Dec-97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 31-Dec-87 1000.00 8.875000 112.67606 FEE 31-Dec-88 0.448 9.600025 0.04667 FEE 31-Dec-89 0.448 11.259461 0.03979 FEE 31-Dec-90 0.448 10.705807 0.04185 FEE 31-Dec-91 0.448 16.799149 0.02667 FEE 31-Dec-92 0.448 16.599155 0.02699 FEE 31-Dec-93 0.448 19.604447 0.02285 FEE 31-Dec-94 0.448 18.189346 0.02463 FEE 31-Dec-95 0.448 25.863867 0.01732 FEE 31-Dec-96 0.448 28.669371 0.01563 FEE 31-Dec-97 0.448 38.873354 0.01152 RESULTING VALUE 31-Dec-97 38.873354 112.40214 4369.4483 10.000 FORMULA: 1000*(1+T)= 4369.4483 - (0.85 * 1000 * 0) = 4369.448294 T = 15.89% R = 336.94%
NLIC VAII QUALITY INCOME 31-Dec-87 TO NO. YEARS 10.000 31-Dec-97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 31-Dec-87 1000.00 8.361230 119.59963 FEE 31-Dec-88 0.448 8.863644 0.05054 FEE 31-Dec-89 0.448 9.867627 0.04540 FEE 31-Dec-90 0.448 10.403187 0.04306 FEE 31-Dec-91 0.448 12.163222 0.03683 FEE 31-Dec-92 0.448 12.993017 0.03448 FEE 31-Dec-93 0.448 14.486819 0.03092 FEE 31-Dec-94 0.448 13.311063 0.03366 FEE 31-Dec-95 0.448 16.373027 0.02736 FEE 31-Dec-96 0.448 16.403816 0.02731 FEE 31-Dec-97 0.448 17.982521 0.02491 RESULTING VALUE 31-Dec-97 17.982521 119.24514 2144.3282 10.000 FORMULA: 1000*(1+T)= 2144.3282 - (0.85 * 1000 * 0) = 2144.32825 T = 7.93% R = 114.43%
NLIC VAII STRATEGIST 31-Dec-87 TO NO. YEARS 10.000 31-Dec-97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 31-Dec-87 1000.00 8.611323 116.12617 FEE 31-Dec-88 0.448 9.582882 0.04675 FEE 31-Dec-89 0.448 10.463936 0.04281 FEE 31-Dec-90 0.448 10.483449 0.04273 FEE 31-Dec-91 0.448 13.266070 0.03377 FEE 31-Dec-92 0.448 14.034777 0.03192 FEE 31-Dec-93 0.448 15.285892 0.02931 FEE 31-Dec-94 0.448 15.687325 0.02856 FEE 31-Dec-95 0.448 16.919048 0.02648 FEE 31-Dec-96 0.448 19.198700 0.02333 FEE 31-Dec-97 0.448 21.539863 0.02080 RESULTING VALUE 31-Dec-97 21.539863 115.79971 2494.3098 10.000 FORMULA: 1000*(1+T)= 2494.3098 - (0.85 * 1000 * 0) = 2494.309829 T = 9.57% R = 149.43%
NLIC VAII DIVIDEND GROWTH 3/2/90 TO NO. YEARS 7.832991 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 3/2/90 1000 12.106506 82.60021512 1 FEE 3/2/91 0.448 12.465782 0.035938379 0.06 2 FEE 3/2/92 0.448 13.997394 0.032005958 0.05 3 FEE 3/2/93 0.448 15.555348 0.028800384 0.04 4 3/2/94 0.448 16.588395 0.027006832 0.03 5 3/2/95 0.448 16.960386 0.026414493 0.02 6 3/2/96 0.448 22.803449 0.019646151 0.01 7 3/2/97 0.448 27.282267 0.016420923 0 8 12/31/97 0.448 32.589936 0.013746575 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.589936 82.40023543 2685.418399 7.832991102 FORMULA: 1000*(1+T)= 2685.418399 = 2685.418399 T = 13.44% R = 168.54%
NLIC VAII UTILITIES 3/2/90 TO NO. YEARS 7.832991 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 3/2/90 1000 10.130909 98.70782572 1 FEE 3/2/91 0.448 10.811481 0.041437431 0.06 2 FEE 3/2/92 0.448 11.98733 0.037372793 0.05 3 FEE 3/2/93 0.448 14.946348 0.029973877 0.04 4 3/2/94 0.448 15.037831 0.02979153 0.03 5 3/2/95 0.448 14.666007 0.030546828 0.02 6 3/2/96 0.448 18.115984 0.024729543 0.01 7 3/2/97 0.448 19.481392 0.022996303 0 8 12/31/97 0.448 24.208448 0.018505936 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 35795 24.208448 98.47247148 2383.865705 7.832991102 FORMULA: 1000*(1+T)= 2383.865705 = 2383.865705 T = 11.73% R = 138.39%
NLIC VAII EUROPEAN GROWTH 3/1/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 3/1/91 1000 10 100 1 FEE 3/1/92 0.448 10.306403 0.043468124 0.06 2 FEE 3/1/93 0.448 10.74421 0.041696877 0.05 3 FEE 3/1/94 0.448 14.776559 0.03031829 0.04 4 3/1/95 0.448 15.668384 0.02859261 0.03 5 3/1/96 0.448 19.936189 0.022471697 0.02 6 3/1/97 0.448 24.428221 0.018339444 0.01 7 12/31/97 0.448 27.870064 0.016074595 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.870064 99.79903836 2781.405586 6.836413415 FORMULA: 1000*(1+T)= 2781.405586 = 2781.405586 T = 16.14% R = 178.14%
NLIC VAII CAPITAL GROWTH 3/1/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 3/1/91 1000 10 100 1 FEE 3/1/92 0.448 12.141744 0.0368975 0.06 2 FEE 3/1/93 0.448 11.843745 0.037825873 0.05 3 FEE 3/1/94 0.448 11.745794 0.038141313 0.04 4 3/1/95 0.448 12.152051 0.036866205 0.03 5 3/1/96 0.448 15.739179 0.028464001 0.02 6 3/1/97 0.448 16.887591 0.026528354 0.01 7 12/31/97 0.448 20.17734 0.022203125 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 20.17734 99.77307363 2013.155229 6.836413415 FORMULA: 1000*(1+T)= 2013.155229 = 2013.155229 T = 10.78% R = 101.32%
NLIC VAII PACIFIC GROWTH 2/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 2/22/94 1000 10 100 1 FEE 2/22/95 0.448 8.627411 0.051927513 0.06 2 FEE 2/22/96 0.448 10.401149 0.043072164 0.05 3 FEE 2/22/97 0.448 9.957804 0.044989839 0.04 4 12/31/97 0.448 6.059243 0.073936629 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.059243 99.78607385 604.6280695 3.854893908 FORMULA: 1000*(1+T)= 604.6280695 = 579.1280695 T = -13.21% R = -42.09%
NLIC VAII GLOBAL DIVIDEND GROWTH 2/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 2/22/94 1000 10 100 1 FEE 2/22/95 0.448 9.976816 0.044904106 0.06 2 FEE 2/22/96 0.448 12.277775 0.036488696 0.05 3 FEE 2/22/97 0.448 13.891783 0.03224928 0.04 4 12/31/97 0.448 15.303559 0.029274236 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.303559 99.85708368 1528.168772 3.854893908 FORMULA: 1000*(1+T)= 1528.168772 = 1502.668772 T = 11.14% R = 50.27%
NLIC VAII CAPITAL APPRECIATION 1/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 11.176955 0.040082473 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.176955 99.95991753 1117.2475 0.941820671 FORMULA: 1000*(1+T)= 1117.2475 = 1066.2475 T = 7.05% R = 6.62%
NLIC VAII INCOME BUILDER 1/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 12.083732 0.037074639 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.083732 99.96292536 1207.9252 0.941820671 FORMULA: 1000*(1+T)= 1207.9252 = 1156.9252 T = 16.74% R = 15.69%
NLIC VAII EQUITY GROWTH 1/2/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 13.127931 0.034125713 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.127931 99.96587429 1312.3451 0.993839836 FORMULA: 1000*(1+T)= 1312.3451 = 1261.3451 T = 26.32% R = 26.13%
NLIC VAII INTERNATIONAL MAGNUM 1/2/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 10.588201 0.042311248 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.588201 99.95768875 1058.3721 0.993839836 FORMULA: 1000*(1+T)= 1058.3721 = 1007.3721 T = 0.74% R = 0.74%
NLIC VAII EMERGING MARKETS 10/1/96 TO NO. YEARS 1.24846 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 10/1/96 1000 10 100 1 FEE 10/1/97 0.448 11.939048 0.03752393 0.06 2 FEE 12/31/97 0.448 9.662961 0.0463626 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.662961 99.91611347 965.485508 1.248459959 FORMULA: 1000*(1+T)= 965.4855077 = 922.9855077 T = -6.22% R = -7.70%
NLIC VAII EMERGING GROWTH 7/3/95 TO NO. YEARS 2.49692 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE 0 INIT DEPOSIT 7/3/95 1000 10 100 1 FEE 7/3/96 0.448 13.545823 0.033072926 0.06 2 FEE 7/3/97 0.448 14.804874 0.030260305 0.05 3 FEE 12/31/97 0.448 15.905074 0.028167112 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.905074 99.90849966 1589.05208 2.496919918 FORMULA: 1000*(1+T)= 1589.05208
Non-Standardized Calculations Dates: Current: 12/31/97 3 Months Ago: 9/30/97 End of Last Year: 12/31/96 One Yr Ago: 12/31/96 Two Yrs Ago: 12/29/95 Three Yrs Ago: 12/31/94 Five Yrs Ago: 12/31/92 Ten Yrs Ago: 12/31/87 Non-Standardized Performance Inception Inception Ten Yr Five Yr Three Two Fund Date AUV AUV AUV AUV AUV Money Market 10/25/90 10 N/A 10.764714 11.182786 11.65311 High Yield 10/25/90 10 N/A 16.335603 19.314985 21.859326 Equity 10/25/90 10 N/A 16.599155 18.189346 25.863867 Quality Income 10/25/90 10 N/A 12.993017 13.311063 16.373027 Managed Assets 10/25/90 10 N/A 14.034777 15.687325 16.919048 Dividend Growth 10/25/90 10 N/A 14.844196 16.068087 21.504641 Utilities 10/25/90 10 N/A 13.840391 14.189948 17.998758 European Growth 3/1/91 10 N/A 10.280422 15.296029 18.975848 Capital Growth 3/1/91 10 N/A 12.731456 11.32227 14.92275 Pacific Growth 2/22/94 10 N/A N/A 9.129646 9.619002 Global Div Growth 2/22/94 10 N/A N/A 9.894112 11.934841 Capital Appreciation 1/21/97 10 N/A N/A N/A N/A Income Builder 1/21/97 10 N/A N/A N/A N/A Equity Growth 1/2/97 10 N/A N/A N/A N/A International Magnum 1/2/97 10 N/A N/A N/A N/A Emerging Markets 10/1/96 10 N/A N/A N/A N/A Emerging Growth 7/3/95 10 N/A N/A N/A 11.632799 One Yr YTD 3 Months Today's Inception Ten Years Fund AUV AUV AUV AUV Total Average Total Average Money Market 12.083835 12.083835 12.424916 12.545891 25.46% 3.21% N/A N/A High Yield 24.14829 24.14829 26.306948 26.651638 166.52% 14.61% N/A N/A Equity 28.669371 28.669371 38.696252 38.873354 288.73% 20.79% N/A N/A Quality Income 16.403816 16.403816 17.439676 17.982521 79.83% 8.51% N/A N/A Managed Assets 19.1987 19.1987 21.969239 21.539863 115.40% 11.26% N/A N/A Dividend Growth 26.298448 26.298448 32.626471 32.589936 225.90% 17.86% N/A N/A Utilities 19.297511 19.297511 21.576775 24.208448 142.08% 13.09% N/A N/A European Growth 24.33484 24.33484 28.475823 27.870064 178.70% 16.16% N/A N/A Capital Growth 16.421498 16.421498 21.707373 20.17734 101.77% 10.81% N/A N/A Pacific Growth 9.858203 9.858203 8.394755 6.059243 -39.41% -12.18% N/A N/A Global Div Growth 13.844714 13.844714 16.110002 15.303559 53.04% 11.66% N/A N/A Capital Appreciation N/A 10 12.364355 11.176955 11.77% 12.53% N/A N/A Income Builder N/A 10 11.774989 12.083732 20.84% 22.24% N/A N/A Equity Growth N/A 10 12.712167 13.127931 31.28% 31.48% N/A N/A International Magnum N/A 10 11.494259 10.588201 5.88% 5.92% N/A N/A Emerging Markets 9.764247 9.764247 11.909837 9.662961 -3.37% -2.71% N/A N/A Emerging Growth 13.386945 13.386945 16.929532 15.905074 59.05% 20.41% N/A N/A N/A Five Years Three Years Two Years One Year YTD Three Months Fund Total Average Total Average Total Average Money Market 16.55% 3.11% 12.19% 3.91% 7.66% 3.76% 3.82% 3.82% 0.97% High Yield 63.15% 10.29% 37.98% 11.33% 21.92% 10.42% 10.37% 10.37% 1.31% Equity 134.19% 18.55% 113.71% 28.81% 50.30% 22.60% 35.59% 35.59% 0.46% Quality Income 38.40% 6.72% 35.09% 10.55% 9.83% 4.80% 9.62% 9.62% 3.11% Managed Assets 53.47% 8.95% 37.31% 11.15% 27.31% 12.83% 12.19% 12.19% -1.95% Dividend Growth 119.55% 17.03% 102.82% 26.58% 51.55% 23.10% 23.92% 23.92% -0.11% Utilities 74.91% 11.83% 70.60% 19.49% 34.50% 15.97% 25.45% 25.45% 12.20% European Growth 171.10% 22.07% 82.20% 22.14% 46.87% 21.19% 14.53% 14.53% -2.13% Capital Growth 58.48% 9.65% 78.21% 21.24% 35.21% 16.28% 22.87% 22.87% -7.05% Pacific Growth N/A N/A -33.63% -12.77% -37.01% -20.63% -38.54% -38.54% -27.82% Global Div Growth N/A N/A 54.67% 15.65% 28.23% 13.24% 10.54% 10.54% -5.01% Capital Appreciation N/A N/A N/A N/A N/A N/A N/A 11.77% -9.60% Income Builder N/A N/A N/A N/A N/A N/A N/A 20.84% 2.62% Equity Growth N/A N/A N/A N/A N/A N/A N/A 31.28% 3.27% International Magnum N/A N/A N/A N/A N/A N/A N/A 5.88% -7.88% Emerging Markets N/A N/A N/A N/A N/A N/A -1.04% -1.04% -18.87% Emerging Growth N/A N/A N/A N/A 36.73% 16.93% 18.81% 18.81% -6.05%
NLIC VAII MONEY MARKET 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 12.065489 82.88101709 FEE 12/31/97 0.448 12.510584 0.035809679 RESULTING VALUE 12/31/97 12.510584 82.84520741 1036.442 1 FORMULA: 1000*(1+T)= 1036.441926 - (0.85 * 1000 * 0.05) = 993.9419263 T = -0.61% R = -0.61%
NLIC VAII HIGH YIELD 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 24.111603 41.47380827 FEE 12/31/97 0.448 26.576588 0.016856942 RESULTING VALUE 12/31/97 26.576588 41.45695133 1101.784 1 FORMULA: 1000*(1+T)= 1101.784315 - (0.85 * 1000 * 0.05) = 1059.284315 T = 5.93% R = 5.93%
NLIC VAII EQUITY 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 28.625797 34.93352517 FEE 12/31/97 0.448 38.763896 0.011557146 RESULTING VALUE 12/31/97 38.763896 34.92196802 1353.712 1 FORMULA: 1000*(1+T)= 1353.711537 - (0.85 * 1000 * 0.05) = 1311.211537 T = 31.12% R = 31.12%
NLIC VAII QUALITY INCOME 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.378885 61.05421706 FEE 12/31/97 0.448 17.931874 0.024983446 RESULTING VALUE 12/31/97 17.931874 61.02923361 1094.369 1 FORMULA: 1000*(1+T)= 1094.368527 - (0.85 * 1000 * 0.05) = 1051.868527 T = 5.19% R = 5.19%
NLIC VAII STRATEGIST 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 19.16954 52.16609267 FEE 12/31/97 0.448 21.479229 0.020857359 RESULTING VALUE 12/31/97 21.479229 52.14523531 1120.039 1 FORMULA: 1000*(1+T)= 1120.03945 - (0.85 * 1000 * 0.05) = 1077.53945 T = 7.75% R = 7.75%
NLIC VAII DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 26.258516 38.08288328 FEE 12/31/97 0.448 32.498223 0.013785369 RESULTING VALUE 12/31/97 32.498223 38.06909791 1237.178 1 FORMULA: 1000*(1+T)= 1237.178033 - (0.85 * 1000 * 0.05) = 1194.678033 T = 19.47% R = 19.47%
NLIC VAII UTILITIES 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 19.26819 51.89901075 FEE 12/31/97 0.448 24.140294 0.018558183 RESULTING VALUE 12/31/97 24.140294 51.88045257 1252.409 1 FORMULA: 1000*(1+T)= 1252.409378 - (0.85 * 1000 * 0.05) = 1209.909378 T = 20.99% R = 20.99%
NLIC VAII EUROPEAN GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 24.297886 41.15584376 FEE 12/31/97 0.448 27.791611 0.016119972 RESULTING VALUE 12/31/97 27.791611 41.13972379 1143.339 1 FORMULA: 1000*(1+T)= 1143.3392 - (0.85 * 1000 * 0.05) = 1100.8392 T = 10.08% R = 10.08%
NLIC VAII CAPITAL GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.396546 60.98845452 FEE 12/31/97 0.448 20.120513 0.022265834 RESULTING VALUE 12/31/97 20.120513 60.96618869 1226.671 1 FORMULA: 1000*(1+T)= 1226.670992 - (0.85 * 1000 * 0.05) = 1184.170992 T = 18.42% R = 18.42%
NLIC VAII PACIFIC GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.843217 101.5928024 FEE 12/31/97 0.448 6.042153 0.074145756 RESULTING VALUE 12/31/97 6.042153 101.5186567 613.3913 1 FORMULA: 1000*(1+T)= 613.391256 - (0.85 * 1000 * 0.05) = 570.891256 T = -42.91% R = -42.91%
NLIC VAII GLOBAL DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.823682 72.33962703 FEE 12/31/97 0.448 15.260474 0.029356886 RESULTING VALUE 12/31/97 15.260474 72.31027014 1103.489 1 FORMULA: 1000*(1+T)= 1103.488997 - (0.85 * 1000 * 0.05) = 1060.988997 T = 6.10% R = 6.10%
NLIC VAII CAPITAL APPRECIATION 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 11.163269 0.040131614 RESULTING VALUE 12/31/97 11.163269 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 12.068959 0.03712002 RESULTING VALUE 12/31/97 12.068959 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 13.110994 0.034169797 RESULTING VALUE 12/31/97 13.110994 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 10.574532 0.042365941 RESULTING VALUE 12/31/97 10.574532 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.761094 102.447533 FEE 12/31/97 0.448 9.647291 0.046437907 RESULTING VALUE 12/31/97 9.647291 102.4010951 987.8932 1 FORMULA: 1000*(1+T)= 987.8931634 - (0.85 * 1000 * 0.05) = 945.3931634 T = -5.46% R = -5.46%
NLIC VAII EMERGING GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.360923 74.84512859 FEE 12/31/97 0.448 15.853533 0.028258685 RESULTING VALUE 12/31/97 15.853533 74.8168699 1186.112 1 FORMULA: 1000*(1+T)= 1186.111716 - (0.85 * 1000 * 0.05) = 1143.611716 T = 14.36% R = 14.36%
NLIC VAII MONEY MARKET 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.805244 92.54765556 FEE 12/31/93 0.448 10.939204 0.04095362 FEE 12/31/94 0.448 11.196088 0.040013976 FEE 12/31/95 0.448 11.650626 0.038452869 FEE 12/31/96 0.448 12.065489 0.037130696 FEE 12/31/97 0.448 12.510584 0.035809679 RESULTING VALUE 12/31/97 12.510584 92.35529472 1155.418672 5 FORMULA: 1000*(1+T)= 1155.418672 - (0.85 * 1000 * 0.01) = 1146.918672 T = 2.78% R = 14.69%
NLIC VAII HIGH YIELD 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.40258 60.96601876 FEE 12/31/93 0.448 20.069886 0.022322 FEE 12/31/94 0.448 19.33797 0.023166858 FEE 12/31/95 0.448 21.854658 0.020499062 FEE 12/31/96 0.448 24.111603 0.018580266 FEE 12/31/97 0.448 26.576588 0.016856942 RESULTING VALUE 12/31/97 26.576588 60.86459363 1617.573229 5 FORMULA: 1000*(1+T)= 1617.573229 - (0.85 * 1000 * 0.01) = 1609.073229 T = 9.98% R = 60.91%
NLIC VAII EQUITY 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.660353 60.02273781 FEE 12/31/93 0.448 19.651076 0.022797734 FEE 12/31/94 0.448 18.210988 0.024600532 FEE 12/31/95 0.448 25.858344 0.017325162 FEE 12/31/96 0.448 28.625797 0.015650219 FEE 12/31/97 0.448 38.763896 0.011557146 RESULTING VALUE 12/31/97 38.763896 59.93080702 2323.151571 5 FORMULA: 1000*(1+T)= 2323.151571 - (0.85 * 1000 * 0.01) = 2314.651571 T = 18.28% R = 131.47%
NLIC VAII QUALITY INCOME 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 13.040873 76.68198287 FEE 12/31/93 0.448 14.521285 0.030851264 FEE 12/31/94 0.448 13.32689 0.033616245 FEE 12/31/95 0.448 16.369534 0.027367914 FEE 12/31/96 0.448 16.378885 0.027352289 FEE 12/31/97 0.448 17.931874 0.024983446 RESULTING VALUE 12/31/97 17.931874 76.53781171 1372.466396 5 FORMULA: 1000*(1+T)= 1372.466396 - (0.85 * 1000 * 0.01) = 1363.966396 T = 6.40% R = 36.40%
NLIC VAII STRATEGIST 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 14.086481 70.99005067 FEE 12/31/93 0.448 15.322262 0.029238503 FEE 12/31/94 0.448 15.705992 0.028524145 FEE 12/31/95 0.448 16.915435 0.026484687 FEE 12/31/96 0.448 19.16954 0.02337041 FEE 12/31/97 0.448 21.479229 0.020857359 RESULTING VALUE 12/31/97 21.479229 70.86157557 1522.052009 5 FORMULA: 1000*(1+T)= 1522.052009 - (0.85 * 1000 * 0.01) = 1513.552009 T = 8.64% R = 51.36%
NLIC VAII DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 14.89886 67.11922926 FEE 12/31/93 0.448 16.785885 0.02668909 FEE 12/31/94 0.448 16.087197 0.027848232 FEE 12/31/95 0.448 21.50005 0.020837161 FEE 12/31/96 0.448 26.258516 0.017061132 FEE 12/31/97 0.448 32.498223 0.013785369 RESULTING VALUE 12/31/97 32.498223 67.01300827 2177.803687 5 FORMULA: 1000*(1+T)= 2177.803687 - (0.85 * 1000 * 0.01) = 2169.303687 T = 16.75% R = 116.93%
NLIC VAII UTILITIES 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 13.891409 71.98693811 FEE 12/31/93 0.448 15.835375 0.028291089 FEE 12/31/94 0.448 14.206834 0.031534119 FEE 12/31/95 0.448 17.994919 0.024895916 FEE 12/31/96 0.448 19.26819 0.023250757 FEE 12/31/97 0.448 24.140294 0.018558183 RESULTING VALUE 12/31/97 24.140294 71.86040805 1734.731377 5 FORMULA: 1000*(1+T)= 1734.731377 - (0.85 * 1000 * 0.01) = 1726.231377 T = 11.54% R = 72.62%
NLIC VAII EUROPEAN GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.318344 96.91477625 FEE 12/31/93 0.448 14.323885 0.031276431 FEE 12/31/94 0.448 15.314253 0.029253794 FEE 12/31/95 0.448 18.971796 0.023614 FEE 12/31/96 0.448 24.297886 0.018437818 FEE 12/31/97 0.448 27.791611 0.016119972 RESULTING VALUE 12/31/97 27.791611 96.79607423 2690.118841 5 FORMULA: 1000*(1+T)= 2690.118841 - (0.85 * 1000 * 0.01) = 2681.618841 T = 21.81% R = 168.16%
NLIC VAII CAPITAL GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 12.778358 78.257316 FEE 12/31/93 0.448 11.71024 0.038257115 FEE 12/31/94 0.448 11.335731 0.039521051 FEE 12/31/95 0.448 14.919563 0.030027689 FEE 12/31/96 0.448 16.396546 0.027322828 FEE 12/31/97 0.448 20.120513 0.022265834 RESULTING VALUE 12/31/97 20.120513 78.09992149 1571.410486 5 FORMULA: 1000*(1+T)= 1571.410486 - (0.85 * 1000 * 0.01) = 1562.910486 T = 9.34% R = 56.29%
NLIC VAII PACIFIC GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.140518 0.04901254 FEE 12/31/95 0.448 9.616944 0.046584445 FEE 12/31/96 0.448 9.843217 0.045513575 FEE 12/31/97 0.448 6.042153 0.074145756 RESULTING VALUE 12/31/97 6.042153 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII GLOBAL DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.90589 0.045225618 FEE 12/31/95 0.448 11.932293 0.037545173 FEE 12/31/96 0.448 13.823682 0.032408153 FEE 12/31/97 0.448 15.260474 0.029356886 RESULTING VALUE 12/31/97 15.260474 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII CAPITAL APPRECIATION 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 11.163269 0.040131614 RESULTING VALUE 12/31/97 11.163269 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 12.068959 0.03712002 RESULTING VALUE 12/31/97 12.068959 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 13.110994 0.034169797 RESULTING VALUE 12/31/97 13.110994 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 10.574532 0.042365941 RESULTING VALUE 12/31/97 10.574532 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 9.761094 0.045896495 FEE 12/31/97 0.448 9.647291 0.046437907 RESULTING VALUE 12/31/97 9.647291 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 11.625387 0.038536352 FEE 12/31/96 0.448 13.360923 0.033530618 FEE 12/31/97 0.448 15.853533 0.028258685 RESULTING VALUE 12/31/97 15.853533 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII MONEY MARKET 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.066205 99.34230427 1 FEE 10/25/91 0.448 10.540686 0.042501978 0.06 2 FEE 10/25/92 0.448 10.775291 0.041576603 0.05 3 FEE 10/25/93 0.448 10.914332 0.041046946 0.04 4 10/25/94 0.448 11.121265 0.040283187 0.03 5 10/25/95 0.448 11.572932 0.03871102 0.02 6 10/25/96 0.448 11.988236 0.037369968 0.01 7 10/25/97 0.448 12.424093 0.03605897 0 8 12/31/97 0.448 12.510584 0.035809679 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.510584 99.02894592 1238.909946 7.18412 FORMULA: 1000*(1+T)= 1238.909946 = 1238.909946 T = 3.03% R = 23.89%
NLIC VAII HIGH YIELD 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.069557 99.30923476 1 FEE 10/25/91 0.448 13.979125 0.032047786 0.06 2 FEE 10/25/92 0.448 16.38225 0.027346671 0.05 3 FEE 10/25/93 0.448 19.400871 0.023091747 0.04 4 10/25/94 0.448 19.345288 0.023158094 0.03 5 10/25/95 0.448 21.53393 0.020804377 0.02 6 10/25/96 0.448 23.63065 0.018958429 0.01 7 10/25/97 0.448 26.342591 0.017006679 0 8 12/31/97 0.448 26.576588 0.016856942 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 26.576588 99.12996403 2634.536213 7.18412 FORMULA: 1000*(1+T)= 2634.536213 = 2634.536213 T = 14.44% R = 163.45%
NLIC VAII EQUITY 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.065409 99.35016053 1 FEE 10/25/91 0.448 14.634655 0.030612269 0.06 2 FEE 10/25/92 0.448 15.235724 0.029404576 0.05 3 FEE 10/25/93 0.448 19.992584 0.022408309 0.04 4 10/25/94 0.448 18.465979 0.024260831 0.03 5 10/25/95 0.448 24.167546 0.018537257 0.02 6 10/25/96 0.448 27.902898 0.01605568 0.01 7 10/25/97 0.448 38.077069 0.011765611 0 8 12/31/97 0.448 38.763896 0.011557146 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 38.763896 99.18555886 3844.818688 7.18412 FORMULA: 1000*(1+T)= 3844.818688 = 3844.818688 T = 20.62% R = 284.48%
NLIC VAII QUALITY INCOME 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.06537 99.35054548 1 FEE 10/25/91 0.448 11.577245 0.038696598 0.06 2 FEE 10/25/92 0.448 12.70932 0.035249722 0.05 3 FEE 10/25/93 0.448 14.689403 0.030498176 0.04 4 10/25/94 0.448 13.158504 0.034046424 0.03 5 10/25/95 0.448 15.793637 0.028365854 0.02 6 10/25/96 0.448 16.127909 0.027777935 0.01 7 10/25/97 0.448 17.543612 0.02553636 0 8 12/31/97 0.448 17.931874 0.024983446 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 17.931874 99.10539097 1777.145384 7.18412 FORMULA: 1000*(1+T)= 1777.145384 = 1777.145384 T = 8.33% R = 77.71%
NLIC VAII STRATEGIST 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.065382 99.35042704 1 FEE 10/25/91 0.448 12.42886 0.03604514 0.06 2 FEE 10/25/92 0.448 13.574363 0.03300339 0.05 3 FEE 10/25/93 0.448 15.127003 0.029615913 0.04 4 10/25/94 0.448 15.609107 0.028701193 0.03 5 10/25/95 0.448 16.439011 0.027252248 0.02 6 10/25/96 0.448 18.419199 0.024322447 0.01 7 10/25/97 0.448 21.589594 0.020750738 0 8 12/31/97 0.448 21.479229 0.020857359 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 21.479229 99.12987861 2129.233363 7.18412 FORMULA: 1000*(1+T)= 2129.233363 = 2129.233363 T = 11.09% R = 112.92%
NLIC VAII DIVIDEND GROWTH 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.065378 99.35046652 1 FEE 10/25/91 0.448 13.147308 0.034075417 0.06 2 FEE 10/25/92 0.448 14.400498 0.031110035 0.05 3 FEE 10/25/93 0.448 16.486161 0.027174307 0.04 4 10/25/94 0.448 16.187098 0.027676363 0.03 5 10/25/95 0.448 20.140653 0.022243569 0.02 6 10/25/96 0.448 24.846756 0.018030523 0.01 7 10/25/97 0.448 32.243363 0.013894332 0 8 12/31/97 0.448 32.498223 0.013785369 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.498223 99.16247661 3222.604278 7.18412 FORMULA: 1000*(1+T)= 3222.604278 = 3222.604278 T = 17.69% R = 222.26%
NLIC VAII UTILITIES 10/25/90 TO NO. YEARS 7.18412 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/25/90 1000 10.065395 99.35029872 1 FEE 10/25/91 0.448 11.681345 0.038351748 0.06 2 FEE 10/25/92 0.448 13.048798 0.034332664 0.05 3 FEE 10/25/93 0.448 16.262377 0.027548248 0.04 4 10/25/94 0.448 14.362113 0.031193182 0.03 5 10/25/95 0.448 17.023912 0.026315926 0.02 6 10/25/96 0.448 18.496368 0.024220971 0.01 7 10/25/97 0.448 21.838143 0.020514565 0 8 12/31/97 0.448 24.140294 0.018558183 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 24.140294 99.12926323 2393.009558 7.18412 FORMULA: 1000*(1+T)= 2393.009558 = 2393.009558 T = 12.91% R = 139.30%
NLIC VAII EUROPEAN GROWTH 3/1/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 3/1/91 1000 10.060892 99.39476539 1 FEE 3/1/92 0.448 10.355745 0.043261011 0.06 2 FEE 3/1/93 0.448 10.781544 0.04155249 0.05 3 FEE 3/1/94 0.448 14.808589 0.030252713 0.04 4 3/1/95 0.448 15.681955 0.028567867 0.03 5 3/1/96 0.448 19.927472 0.022481527 0.02 6 3/1/97 0.448 24.386002 0.018371195 0.01 7 12/31/97 0.448 27.791611 0.016119972 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.791611 99.19415862 2756.76547 6.836413 FORMULA: 1000*(1+T)= 2756.76547 = 2756.76547 T = 15.99% R = 175.68%
NLIC VAII CAPTIAL GROWTH 3/1/91 TO NO. YEARS 6.836413 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 3/1/91 1000 10.060832 99.39535816 1 FEE 3/1/92 0.448 12.199795 0.036721929 0.06 2 FEE 3/1/93 0.448 11.88483 0.037695112 0.05 3 FEE 3/1/94 0.448 11.771223 0.038058917 0.04 4 3/1/95 0.448 12.162557 0.03683436 0.03 5 3/1/96 0.448 15.732296 0.028476454 0.02 6 3/1/97 0.448 16.858387 0.02657431 0.01 7 12/31/97 0.448 20.120513 0.022265834 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 20.120513 99.16873124 1995.325746 6.836413 FORMULA: 1000*(1+T)= 1995.325746 = 1995.325746 T = 10.63% R = 99.53%
NLIC VAII PACIFIC GROWTH 2/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 2/22/94 1000 10.021919 99.78128939 1 FEE 2/22/95 0.448 8.63509 0.051881335 0.06 2 FEE 2/22/96 0.448 10.396899 0.043089771 0.05 3 FEE 2/22/97 0.448 9.940823 0.045066691 0.04 4 12/31/97 0.448 6.042153 0.074145756 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.042153 99.56710584 601.5996872 3.854894 FORMULA: 1000*(1+T)= 601.5996872 = 576.0996872 T = -13.33% R = -42.39%
NLIC VAII DIVIDEND GROWTH 2/22/94 TO NO. YEARS 3.854894 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 2/22/94 1000 10.021914 99.78133917 1 FEE 2/22/95 0.448 9.9857 0.044864156 0.06 2 FEE 2/22/96 0.448 12.272756 0.036503618 0.05 3 FEE 2/22/97 0.448 13.868112 0.032304325 0.04 4 12/31/97 0.448 15.260474 0.029356886 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.260474 99.63831019 1520.527842 3.854894 FORMULA: 1000*(1+T)= 1520.527842 = 1495.027842 T = 11.00% R = 49.50%
NLIC VAII CAPTIAL APPRECIATION 1/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 11.163269 0.040131614 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.163269 99.95986839 1115.8789 0.941821 FORMULA: 1000*(1+T)= 1115.8789 = 1064.8789 T = 6.90% R = 6.49%
NLIC VAII INCOME BUILDER 1/21/97 TO NO. YEARS 0.941821 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 12.068959 0.03712002 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.068959 99.96287998 1206.4479 0.941821 FORMULA: 1000*(1+T)= 1206.4479 = 1155.4479 T = 16.58% R = 15.54%
NLIC VAII EQUITY GROWTH 1/2/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 13.110994 0.034169797 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.110994 99.9658302 1310.6514 0.99384 FORMULA: 1000*(1+T)= 1310.6514 = 1259.6514 T = 26.15% R = 25.97%
NLIC VAII INTERNATIONAL MAGNUM 1/2/97 TO NO. YEARS 0.99384 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 10.574532 0.042365941 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.574532 99.95763406 1057.0052 0.99384 FORMULA: 1000*(1+T)= 1057.0052 = 1006.0052 T = 0.60% R = 0.60%
NLIC VAII EMERGING MARKETS 10/1/96 TO NO. YEARS 1.24846 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/1/96 1000 10 100 1 FEE 10/1/97 0.448 11.923567 0.037572649 0.06 2 FEE 12/31/97 0.448 9.647291 0.046437907 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.647291 99.91598944 963.9186257 1.24846 FORMULA: 1000*(1+T)= 963.9186257 = 921.4186257 T = -6.35% R = -7.86%
NLIC VAII EMERGING GROWTH 7/3/95 TO NO. YEARS 2.49692 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 7/3/95 1000 10 100 1 FEE 7/3/96 0.448 13.528207 0.033115992 0.06 2 FEE 7/3/97 0.448 14.766407 0.030339134 0.05 3 FEE 12/31/97 0.448 15.853533 0.028258685 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.853533 99.90828619 1583.899312 2.49692 FORMULA: 1000*(1+T)= 1583.899312 = 1549.899312 T = 19.18% R = 54.99%
NLIC VAII MONEY MARKET 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.371772 119.4490247 FEE 12/31/88 0.448 8.845213 0.050648865 FEE 12/31/89 0.448 9.504727 0.047134442 FEE 12/31/90 0.448 10.175444 0.044027563 FEE 12/31/91 0.448 10.602635 0.042253647 FEE 12/31/92 0.448 10.805244 0.04146135 FEE 12/31/93 0.448 10.939204 0.04095362 FEE 12/31/94 0.448 11.196088 0.040013976 FEE 12/31/95 0.448 11.650626 0.038452869 FEE 12/31/96 0.448 12.065489 0.037130696 FEE 12/31/97 0.448 12.510584 0.035809679 RESULTING VALUE 12/31/97 12.510584 119.0311379 1489.14905 10 FORMULA: 1000*(1+T)= 1489.14905 - (0.85 * 1000 * 0) = 1489.14905 T = 4.06% R = 48.91%
NLIC VAII HIGH YIELD 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 13.144098 76.0797736 FEE 12/31/88 0.448 14.378379 0.031157893 FEE 12/31/89 0.448 12.383794 0.036176312 FEE 12/31/90 0.448 8.992388 0.049819914 FEE 12/31/91 0.448 14.057226 0.03186973 FEE 12/31/92 0.448 16.40258 0.027312776 FEE 12/31/93 0.448 20.069886 0.022322 FEE 12/31/94 0.448 19.33797 0.023166858 FEE 12/31/95 0.448 21.854658 0.020499062 FEE 12/31/96 0.448 24.111603 0.018580266 FEE 12/31/97 0.448 26.576588 0.016856942 RESULTING VALUE 12/31/97 26.576588 75.80201184 2014.558838 10 FORMULA: 1000*(1+T)= 2014.558838 - (0.85 * 1000 * 0) = 2014.558838 T = 7.26% R = 101.46%
NLIC VAII EQUITY 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.907562 112.2641639 FEE 12/31/88 0.448 9.622764 0.04655627 FEE 12/31/89 0.448 11.271503 0.039746252 FEE 12/31/90 0.448 10.77327 0.041584403 FEE 12/31/91 0.448 16.883076 0.026535449 FEE 12/31/92 0.448 16.660353 0.026890187 FEE 12/31/93 0.448 19.651076 0.022797734 FEE 12/31/94 0.448 18.210988 0.024600532 FEE 12/31/95 0.448 25.858344 0.017325162 FEE 12/31/96 0.448 28.625797 0.015650219 FEE 12/31/97 0.448 38.763896 0.011557146 RESULTING VALUE 12/31/97 38.763896 111.9909205 4341.204396 10 FORMULA: 1000*(1+T)= 4341.204396 - (0.85 * 1000 * 0) = 4341.204396 T = 15.81% R = 334.12%
NLIC VAII QUALITY INCOME 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.391894 119.162611 FEE 12/31/88 0.448 8.88462 0.050424216 FEE 12/31/89 0.448 9.878173 0.045352516 FEE 12/31/90 0.448 10.468699 0.042794238 FEE 12/31/91 0.448 12.223939 0.036649398 FEE 12/31/92 0.448 13.040873 0.034353528 FEE 12/31/93 0.448 14.521285 0.030851264 FEE 12/31/94 0.448 13.32689 0.033616245 FEE 12/31/95 0.448 16.369534 0.027367914 FEE 12/31/96 0.448 16.378885 0.027352289 FEE 12/31/97 0.448 17.931874 0.024983446 RESULTING VALUE 12/31/97 17.931874 118.8088659 2130.465614 10 FORMULA: 1000*(1+T)= 2130.465614 - (0.85 * 1000 * 0) = 2130.465614 T = 7.86% R = 113.05%
NLIC VAII STRATEGIST 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.64291 115.7017717 FEE 12/31/88 0.448 9.60557 0.046639606 FEE 12/31/89 0.448 10.47512 0.042768006 FEE 12/31/90 0.448 10.54948 0.042466548 FEE 12/31/91 0.448 13.332302 0.033602599 FEE 12/31/92 0.448 14.086481 0.031803543 FEE 12/31/93 0.448 15.322262 0.029238503 FEE 12/31/94 0.448 15.705992 0.028524145 FEE 12/31/95 0.448 16.915435 0.026484687 FEE 12/31/96 0.448 19.16954 0.02337041 FEE 12/31/97 0.448 21.479229 0.020857359 RESULTING VALUE 12/31/97 21.479229 115.3760163 2478.187876 10 FORMULA: 1000*(1+T)= 2478.187876 - (0.85 * 1000 * 0) = 2478.187876 T = 9.50% R = 147.82%
NLIC VAII DIVIDEND GROWTH 3/2/90 TO NO. YEARS 7.832991102 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES INIT DEPOSIT 3/2/90 1000 12.116743 82.53042918 1 FEE 3/2/91 0.448 12.541618 0.035721069 0.06 2 FEE 3/2/92 0.448 14.064146 0.031854049 0.05 3 FEE 3/2/93 0.448 15.609244 0.028700942 0.04 4 3/2/94 0.448 16.62428 0.026948536 0.03 5 3/2/95 0.448 16.975001 0.026391751 0.02 6 3/2/96 0.448 22.793486 0.019654738 0.01 7 3/2/97 0.448 27.235121 0.016449349 0 8 12/31/97 0.448 32.498223 0.013785369 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.498223 82.33092337 2675.608708 7.832991102 FORMULA: 1000*(1+T)= 2675.608708 = 2675.608708 T = 13.39% R = 167.56%
NLIC VAII UTILITIES 3/2/90 TO NO. YEARS 7.832991102 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES INIT DEPOSIT 3/2/90 1000 10.139456 98.62462049 1 FEE 3/2/91 0.448 10.87726 0.041186843 0.06 2 FEE 3/2/92 0.448 12.044534 0.037195295 0.05 3 FEE 3/2/93 0.448 14.998187 0.029870277 0.04 4 3/2/94 0.448 15.07037 0.029727206 0.03 5 3/2/95 0.448 14.678652 0.030520514 0.02 6 3/2/96 0.448 18.108068 0.024740353 0.01 7 3/2/97 0.448 19.447702 0.023036141 0 8 12/31/97 0.448 24.140294 0.018558183 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 24.140294 98.38978568 2375.158353 7.832991102 FORMULA: 1000*(1+T)= 2375.158353 = 2375.158353 T = 11.68% R = 137.52%
NLIC VAII EUROPEAN GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 3/1/91 1000 10.060892 99.39476539 1 FEE 3/1/92 0.448 10.355745 0.043261011 0.06 2 FEE 3/1/93 0.448 10.781544 0.04155249 0.05 3 FEE 3/1/94 0.448 14.808589 0.030252713 0.04 4 3/1/95 0.448 15.681955 0.028567867 0.03 5 3/1/96 0.448 19.927472 0.022481527 0.02 6 3/1/97 0.448 24.386002 0.018371195 0.01 7 12/31/97 0.448 27.791611 0.016119972 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.791611 99.19415862 2756.76547 6.836413415 FORMULA: 1000*(1+T)= 2756.76547 = 2756.76547 T = 15.99% R = 175.68%
NLIC VAII CAPITAL GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 3/1/91 1000 10.060832 99.39535816 1 FEE 3/1/92 0.448 12.199795 0.036721929 0.06 2 FEE 3/1/93 0.448 11.88483 0.037695112 0.05 3 FEE 3/1/94 0.448 11.771223 0.038058917 0.04 4 3/1/95 0.448 12.162557 0.03683436 0.03 5 3/1/96 0.448 15.732296 0.028476454 0.02 6 3/1/97 0.448 16.858387 0.02657431 0.01 7 12/31/97 0.448 20.120513 0.022265834 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 20.120513 99.16873124 1995.325746 6.836413415 FORMULA: 1000*(1+T)= 1995.325746 = 1995.325746 T = 10.63% R = 99.53%
NLIC VAII PACIFIC GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 2/22/94 1000 10.021919 99.78128939 1 FEE 2/22/95 0.448 8.63509 0.051881335 0.06 2 FEE 2/22/96 0.448 10.396899 0.043089771 0.05 3 FEE 2/22/97 0.448 9.940823 0.045066691 0.04 4 12/31/97 0.448 6.042153 0.074145756 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.042153 99.56710584 601.5996872 3.854893908 FORMULA: 1000*(1+T)= 601.5996872 = 576.0996872 T = -13.33% R = -42.39%
NLIC VAII GLOBAL DIVIDEND GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 2/22/94 1000 10.021914 99.78133917 1 FEE 2/22/95 0.448 9.9857 0.044864156 0.06 2 FEE 2/22/96 0.448 12.272756 0.036503618 0.05 3 FEE 2/22/97 0.448 13.868112 0.032304325 0.04 4 12/31/97 0.448 15.260474 0.029356886 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.260474 99.63831019 1520.527842 3.854893908 FORMULA: 1000*(1+T)= 1520.527842 = 1495.027842 T = 11.00% R = 49.50%
NLIC VAII CAPITAL APPRECIATION 1/21/97 TO NO. YEARS 0.941820671 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 11.163269 0.040131614 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.163269 99.95986839 1115.8789 0.941820671 FORMULA: 1000*(1+T)= 1115.8789 = 1064.8789 T = 6.90% R = 6.49%
NLIC VAII INCOME BUILDER 1/21/97 TO NO. YEARS 0.941820671 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 12.068959 0.03712002 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.068959 99.96287998 1206.4479 0.941820671 FORMULA: 1000*(1+T)= 1206.4479 = 1155.4479 T = 16.58% R = 15.54%
NLIC VAII EQUITY GROWTH 1/2/97 TO NO. YEARS 0.993839836 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 13.110994 0.034169797 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.110994 99.9658302 1310.6514 0.993839836 FORMULA: 1000*(1+T)= 1310.6514 = 1259.6514 T = 26.15% R = 25.97%
NLIC VAII INTERNATIONAL MAGNUM 1/2/97 TO NO. YEARS 0.993839836 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 10.574532 0.042365941 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.574532 99.95763406 1057.0052 0.993839836 FORMULA: 1000*(1+T)= 1057.0052 = 1006.0052 T = 0.60% R = 0.60%
NLIC VAII EMERGING MARKETS 10/1/96 TO NO. YEARS 1.248459959 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 10/1/96 1000 10 100 1 FEE 10/1/97 0.448 11.923567 0.037572649 0.06 2 FEE 12/31/97 0.448 9.647291 0.046437907 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.647291 99.91598944 963.9186257 1.248459959 FORMULA: 1000*(1+T)= 963.9186257 = 921.4186257 T = -6.35% R = -7.86%
NLIC VAII EMERGING GROWTH 7/3/95 TO NO. YEARS 2.496919918 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0 INIT DEPOSIT 7/3/95 1000 10 100 1 FEE 7/3/96 0.448 13.528207 0.033115992 0.06 2 FEE 7/3/97 0.448 14.766407 0.030339134 0.05 3 FEE 12/31/97 0.448 15.853533 0.028258685 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.853533 99.90828619 1583.899312 2.496919918 FORMULA: 1000*(1+T)= 1583.899312 = 1549.899312 T = 19.18% R = 54.99%
Non-Standardized Calculations Dates: Current: 12/31/97 3 Months Ago: 9/30/97 End of Last Year: 12/31/96 One Yr Ago: 12/31/96 Two Yrs Ago: 12/29/95 Three Yrs Ago: 12/31/94 Five Yrs Ago: 12/31/92 Ten Yrs Ago: 12/31/87 Inception Inception Ten Yr Five Yr Three Two One Yr YTD 3 Months Today's Fund Date AUV AUV AUV AUV AUV AUV AUV AUV AUV Money Market 10/25/90 10.066205 N/A 10.805244 11.196088 11.650626 12.065489 12.065489 12.394005 12.510584 High Yield 10/25/90 10.069557 N/A 16.40258 19.33797 21.854658 24.111603 24.111603 26.241467 26.576588 Equity 10/25/90 10.065409 N/A 16.660353 18.210988 25.858344 28.625797 28.625797 38.599941 38.763896 Quality Income 10/25/90 10.06537 N/A 13.040873 13.32689 16.369534 16.378885 16.378885 17.396254 17.931874 Managed Assets 10/25/90 10.065382 N/A 14.086481 15.705992 16.915435 19.16954 19.16954 21.914572 21.479229 Dividend Growth 10/25/90 10.065378 N/A 14.89886 16.087197 21.50005 26.258516 26.258516 32.545314 32.498223 Utilities 10/25/90 10.065395 N/A 13.891409 14.206834 17.994919 19.26819 19.26819 21.523067 24.140294 European Growth 3/1/91 10.060892 N/A 10.318344 15.314253 18.971796 24.297886 24.297886 28.404961 27.791611 Capital Growth 3/1/91 10.060832 N/A 12.778358 11.335731 14.919563 16.396546 16.396546 21.653341 20.120513 Pacific Growth 2/22/94 10.021919 N/A N/A 9.140518 9.616944 9.843217 9.843217 8.373836 6.042153 Global Div Growth 2/22/94 10.021914 N/A N/A 9.90589 11.932293 13.823682 13.823682 16.069908 15.260474 Capital Appreciation 1/21/97 10 N/A N/A N/A N/A N/A 10 12.353276 11.163269 Income Builder 1/21/97 10 N/A N/A N/A N/A N/A 10 11.764447 12.068959 Equity Growth 1/2/97 10 N/A N/A N/A N/A N/A 10 12.699925 13.110994 International Magnum 1/2/97 10 N/A N/A N/A N/A N/A 10 11.483185 10.574532 Emerging Markets 10/1/96 10 N/A N/A N/A N/A 9.761094 9.761094 11.894437 9.647291 Emerging Growth 7/3/95 10 N/A N/A N/A 11.625387 13.360923 13.360923 16.880207 15.853533 Non-Standardized Performance Inception Total Average Ten Years Five Years Three Years Two Years Total Average Total Average Total Average Total Average 24.28% 3.07% N/A N/A 15.78% 2.97% 11.74% 3.77% 7.38% 3.62% 163.93% 14.45% N/A N/A 62.03% 10.13% 37.43% 11.18% 21.61% 10.28% 285.12% 20.63% N/A N/A 132.67% 18.40% 112.86% 28.64% 49.91% 22.44% 78.15% 8.36% N/A N/A 37.51% 6.58% 34.55% 10.40% 9.54% 4.66% 113.40% 11.12% N/A N/A 52.48% 8.80% 36.76% 11.00% 26.98% 12.69% 222.87% 17.71% N/A N/A 118.13% 16.88% 102.01% 26.41% 51.15% 22.94% 139.83% 12.94% N/A N/A 73.78% 11.69% 69.92% 19.33% 34.15% 15.82% 176.23% 16.01% N/A N/A 169.34% 21.92% 81.48% 21.98% 46.49% 21.03% 99.99% 10.66% N/A N/A 57.46% 9.50% 77.50% 21.08% 34.86% 16.13% -39.71% -12.29% N/A N/A N/A N/A -33.90% -12.89% -37.17% -20.74% 52.27% 11.52% N/A N/A N/A N/A 54.05% 15.49% 27.89% 13.09% 11.63% 12.39% N/A N/A N/A N/A N/A N/A N/A N/A 20.69% 22.08% N/A N/A N/A N/A N/A N/A N/A N/A 31.11% 31.31% N/A N/A N/A N/A N/A N/A N/A N/A 5.75% 5.78% N/A N/A N/A N/A N/A N/A N/A N/A -3.53% -2.83% N/A N/A N/A N/A N/A N/A N/A N/A 58.54% 20.25% N/A N/A N/A N/A N/A N/A 36.37% 16.78% One Year YTD Three Months 3.69% 3.69% 0.94% 10.22% 10.22% 1.28% 35.42% 35.42% 0.42% 9.48% 9.48% 3.08% 12.05% 12.05% -1.99% 23.76% 23.76% -0.14% 25.29% 25.29% 12.16% 14.38% 14.38% -2.16% 22.71% 22.71% -7.08% -38.62% -38.62% -27.84% 10.39% 10.39% -5.04% N/A 11.63% -9.63% N/A 20.69% 2.59% N/A 31.11% 3.24% N/A 5.75% -7.91% -1.17% -1.17% -18.89% 18.66% 18.66% -6.08%
NLIC VAII MONEY MARKET 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 11.905367 83.99573067 FEE 12/31/97 0.448 12.330983 0.036331248 RESULTING VALUE 12/31/97 12.330983 83.95939942 1035.302 1 FORMULA: 1000*(1+T)= 1035.301927 - (0.85 * 1000 * 0.05) = 992.8019269 T = -0.72% R = -0.72%
NLIC VAII HIGH YIELD 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 23.783763 42.04549129 FEE 12/31/97 0.448 26.186425 0.017108101 RESULTING VALUE 12/31/97 26.186425 42.02838319 1100.573 1 FORMULA: 1000*(1+T)= 1100.573104 - (0.85 * 1000 * 0.05) = 1058.073104 T = 5.81% R = 5.81%
NLIC VAII EQUITY 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 28.248188 35.40050073 FEE 12/31/97 0.448 38.210604 0.011724494 RESULTING VALUE 12/31/97 38.210604 35.38877624 1352.227 1 FORMULA: 1000*(1+T)= 1352.226515 - (0.85 * 1000 * 0.05) = 1309.726515 T = 30.97% R = 30.97%
NLIC VAII QUALITY INCOME 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.162888 61.87013113 FEE 12/31/97 0.448 17.675955 0.025345165 RESULTING VALUE 12/31/97 17.675955 61.84478596 1093.166 1 FORMULA: 1000*(1+T)= 1093.165654 - (0.85 * 1000 * 0.05) = 1050.665654 T = 5.07% R = 5.07%
NLIC VAII STRATEGIST 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 18.916699 52.86334577 FEE 12/31/97 0.448 21.172661 0.021159362 RESULTING VALUE 12/31/97 21.172661 52.8421864 1118.81 1 FORMULA: 1000*(1+T)= 1118.809699 - (0.85 * 1000 * 0.05) = 1076.309699 T = 7.63% R = 7.63%
NLIC VAII DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 25.912299 38.59171276 FEE 12/31/97 0.448 32.034547 0.013984902 RESULTING VALUE 12/31/97 32.034547 38.57772786 1235.82 1 FORMULA: 1000*(1+T)= 1235.820036 - (0.85 * 1000 * 0.05) = 1193.320036 T = 19.33% R = 19.33%
NLIC VAII UTILITIES 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 19.014042 52.59271017 FEE 12/31/97 0.448 23.795739 0.0188269 RESULTING VALUE 12/31/97 23.795739 52.57388327 1251.034 1 FORMULA: 1000*(1+T)= 1251.034404 - (0.85 * 1000 * 0.05) = 1208.534404 T = 20.85% R = 20.85%
NLIC VAII EUROPEAN GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 23.997344 41.67127829 FEE 12/31/97 0.448 27.417722 0.016339797 RESULTING VALUE 12/31/97 27.417722 41.65493849 1142.084 1 FORMULA: 1000*(1+T)= 1142.083523 - (0.85 * 1000 * 0.05) = 1099.583523 T = 9.96% R = 9.96%
NLIC VAII CAPITAL GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 16.193773 61.75213151 FEE 12/31/97 0.448 19.849883 0.022569403 RESULTING VALUE 12/31/97 19.849883 61.72956211 1225.325 FORMULA: 1000*(1+T)= 1225.324586 - (0.85 * 1000 * 0.05) = 1182.824586 T = 18.28% R = 18.28%
NLIC VAII PACIFIC GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.790881 102.1358548 FEE 12/31/97 0.448 6.003407 0.074624293 RESULTING VALUE 12/31/97 6.003407 102.0612305 612.7151 1 FORMULA: 1000*(1+T)= 612.7151055 - (0.85 * 1000 * 0.05) = 570.2151055 T = -42.98% R = -42.98%
NLIC VAII GLOBAL DIVIDEND GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.750233 72.72604035 FEE 12/31/97 0.448 15.162705 0.029546179 RESULTING VALUE 12/31/97 15.162705 72.69649417 1102.275 1 FORMULA: 1000*(1+T)= 1102.275496 - (0.85 * 1000 * 0.05) = 1059.775496 T = 5.98% R = 5.98%
NLIC VAII CAPITAL APPRECIATION 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 11.1517 0.040173247 RESULTING VALUE 12/31/97 11.1517 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 12.056457 0.037158512 RESULTING VALUE 12/31/97 12.056457 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 13.096683 0.034207135 RESULTING VALUE 12/31/97 13.096683 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 #VALUE! #VALUE! FEE 12/31/97 0.448 10.562966 0.04241233 RESULTING VALUE 12/31/97 10.562966 #VALUE! #VALUE! 1 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.05) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 9.75842 102.4756057 FEE 12/31/97 0.448 9.634048 0.04650174 RESULTING VALUE 12/31/97 9.634048 102.4291039 986.8069 1 FORMULA: 1000*(1+T)= 986.806904 - (0.85 * 1000 * 0.05) = 944.306904 T = -5.57% R = -5.57%
NLIC VAII EMERGING GROWTH 12/31/96 NO. YEARS 1 TO 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/96 1000 13.338966 74.96832963 FEE 12/31/97 0.448 15.81009 0.028336335 RESULTING VALUE 12/31/97 15.81009 74.93999329 1184.808 1 FORMULA: 1000*(1+T)= 1184.808039 - (0.85 * 1000 * 0.05) = 1142.308039 T = 14.23% R = 14.23%
NLIC VAII MONEY MARKET 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.708868 93.38055152 FEE 12/31/93 0.448 10.829712 0.041367674 FEE 12/31/94 0.448 11.071838 0.04046302 FEE 12/31/95 0.448 11.508735 0.038926954 FEE 12/31/96 0.448 11.905367 0.037630087 FEE 12/31/97 0.448 12.330983 0.036331248 RESULTING VALUE 12/31/97 12.330983 93.18583254 1149.072917 5 FORMULA: 1000*(1+T)= 1149.072917 - (0.85 * 1000 * 0.01) = 1140.572917 T = 2.67% R = 14.06%
NLIC VAII HIGH YIELD 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.250889 61.5350951 FEE 12/31/93 0.448 19.862432 0.022555143 FEE 12/31/94 0.448 19.117027 0.023434606 FEE 12/31/95 0.448 21.581341 0.020758673 FEE 12/31/96 0.448 23.783763 0.01883638 FEE 12/31/97 0.448 26.186425 0.017108101 RESULTING VALUE 12/31/97 26.186425 61.43240219 1608.694993 5 FORMULA: 1000*(1+T)= 1608.694993 - (0.85 * 1000 * 0.01) = 1600.194993 T = 9.86% R = 60.02%
NLIC VAII EQUITY 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 16.51307 60.55809126 FEE 12/31/93 0.448 19.455923 0.023026407 FEE 12/31/94 0.448 18.010317 0.024874632 FEE 12/31/95 0.448 25.545466 0.017537359 FEE 12/31/96 0.448 28.248188 0.015859424 FEE 12/31/97 0.448 38.210604 0.011724494 RESULTING VALUE 12/31/97 38.210604 60.46506894 2310.406805 5 FORMULA: 1000*(1+T)= 2310.406805 - (0.85 * 1000 * 0.01) = 2301.906805 T = 18.15% R = 130.19%
NLIC VAII QUALITY INCOME 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 12.925627 77.36568601 FEE 12/31/93 0.448 14.377142 0.031160574 FEE 12/31/94 0.448 13.180086 0.033990674 FEE 12/31/95 0.448 16.171531 0.027703005 FEE 12/31/96 0.448 16.162888 0.027717819 FEE 12/31/97 0.448 17.675955 0.025345165 RESULTING VALUE 12/31/97 17.675955 77.21976878 1364.933158 5 FORMULA: 1000*(1+T)= 1364.933158 - (0.85 * 1000 * 0.01) = 1356.433158 T = 6.29% R = 35.64%
NLIC VAII STRATEGIST 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 13.961977 71.62309464 FEE 12/31/93 0.448 15.170142 0.029531695 FEE 12/31/94 0.448 15.532966 0.028841884 FEE 12/31/95 0.448 16.710795 0.026809018 FEE 12/31/96 0.448 18.916699 0.023682779 FEE 12/31/97 0.448 21.172661 0.021159362 RESULTING VALUE 12/31/97 21.172661 71.4930699 1513.698533 5 FORMULA: 1000*(1+T)= 1513.698533 - (0.85 * 1000 * 0.01) = 1505.198533 T = 8.52% R = 50.52%
NLIC VAII DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 14.767228 67.71751611 FEE 12/31/93 0.448 16.619291 0.026956625 FEE 12/31/94 0.448 15.910016 0.028158363 FEE 12/31/95 0.448 21.240032 0.021092247 FEE 12/31/96 0.448 25.912299 0.017289087 FEE 12/31/97 0.448 32.034547 0.013984902 RESULTING VALUE 12/31/97 32.034547 67.61003489 2165.85684 5 FORMULA: 1000*(1+T)= 2165.85684 - (0.85 * 1000 * 0.01) = 2157.35684 T = 16.62% R = 115.74%
NLIC VAII UTILITIES 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 13.768616 72.62894106 FEE 12/31/93 0.448 15.678167 0.028574769 FEE 12/31/94 0.448 14.050329 0.031885374 FEE 12/31/95 0.448 17.777227 0.025200781 FEE 12/31/96 0.448 19.014042 0.023561534 FEE 12/31/97 0.448 23.795739 0.0188269 RESULTING VALUE 12/31/97 23.795739 72.50089171 1725.212296 5 FORMULA: 1000*(1+T)= 1725.212296 - (0.85 * 1000 * 0.01) = 1716.712296 T = 11.41% R = 71.67%
NLIC VAII EUROPEAN GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 10.235625 97.69799109 FEE 12/31/93 0.448 14.193446 0.031563864 FEE 12/31/94 0.448 15.158111 0.029555134 FEE 12/31/95 0.448 18.757836 0.023883352 FEE 12/31/96 0.448 23.997344 0.018668733 FEE 12/31/97 0.448 27.417722 0.016339797 RESULTING VALUE 12/31/97 27.417722 97.57798021 2675.365935 5 FORMULA: 1000*(1+T)= 2675.365935 - (0.85 * 1000 * 0.01) = 2666.865935 T = 21.67% R = 166.69%
NLIC VAII CAPITAL GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 12.675973 78.88940754 FEE 12/31/93 0.448 11.603628 0.038608614 FEE 12/31/94 0.448 11.220177 0.039928069 FEE 12/31/95 0.448 14.751346 0.03037011 FEE 12/31/96 0.448 16.193773 0.027664955 FEE 12/31/97 0.448 19.849883 0.022569403 RESULTING VALUE 12/31/97 19.849883 78.73026639 1562.786576 5 FORMULA: 1000*(1+T)= 1562.786576 - (0.85 * 1000 * 0.01) = 1554.286576 T = 9.22% R = 55.43%
NLIC VAII PACIFIC GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.111947 0.049166221 FEE 12/31/95 0.448 9.576398 0.046781681 FEE 12/31/96 0.448 9.790881 0.045756863 FEE 12/31/97 0.448 6.003407 0.074624293 RESULTING VALUE 12/31/97 6.003407 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII GLOBAL DIVIDEND GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 9.87493 0.04536741 FEE 12/31/95 0.448 11.882013 0.037704049 FEE 12/31/96 0.448 13.750233 0.032581266 FEE 12/31/97 0.448 15.162705 0.029546179 RESULTING VALUE 12/31/97 15.162705 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII CAPITAL APPRECIATION 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 11.1517 0.040173247 RESULTING VALUE 12/31/97 11.1517 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INCOME BUILDER 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 12.056457 0.037158512 RESULTING VALUE 12/31/97 12.056457 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EQUITY GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 13.096683 0.034207135 RESULTING VALUE 12/31/97 13.096683 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII INTERNATIONAL MAGNUM 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 #VALUE! #VALUE! FEE 12/31/97 0.448 10.562966 0.04241233 RESULTING VALUE 12/31/97 10.562966 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING MARKETS 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 #VALUE! #VALUE! FEE 12/31/96 0.448 9.75842 0.045909071 FEE 12/31/97 0.448 9.634048 0.04650174 RESULTING VALUE 12/31/97 9.634048 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII EMERGING GROWTH 12/30/92 TO NO. YEARS 5 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/92 1000 #VALUE! #VALUE! FEE 12/31/93 0.448 #VALUE! #VALUE! FEE 12/31/94 0.448 #VALUE! #VALUE! FEE 12/31/95 0.448 11.619124 0.038557124 FEE 12/31/96 0.448 13.338966 0.033585812 FEE 12/31/97 0.448 15.81009 0.028336335 RESULTING VALUE 12/31/97 15.81009 #VALUE! #VALUE! 5 FORMULA: 1000*(1+T)= #VALUE! - (0.85 * 1000 * 0.01) = #VALUE! T = N/A R = N/A
NLIC VAII MONEY MARKET 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 10.459855 0.042830422 0.06 2FEE 10/25/92 0.448 10.681307 0.041942433 0.05 3FEE 10/25/93 0.448 10.80727 0.041453577 0.04 4 10/25/94 0.448 11.000066 0.040727028 0.03 5 10/25/95 0.448 11.43423 0.039180601 0.02 6 10/25/96 0.448 11.831524 0.037864945 0.01 7 10/25/97 0.448 12.248247 0.036576663 0 8 12/31/97 0.448 12.330983 0.036331248 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.330983 99.68309308 1229.190526 7.184120465 FORMULA: 1000*(1+T)= 1229.190526 = 1229.190526 T = 2.91% R = 22.92%
NLIC VAII HIGH YIELD 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 13.867314 0.032306184 0.06 2FEE 10/25/92 0.448 16.233991 0.027596418 0.05 3FEE 10/25/93 0.448 19.204205 0.023328224 0.04 4 10/25/94 0.448 19.128129 0.023421005 0.03 5 10/25/95 0.448 21.268794 0.021063724 0.02 6 10/25/96 0.448 23.31404 0.019215889 0.01 7 10/25/97 0.448 25.961176 0.017256537 0 8 12/31/97 0.448 26.186425 0.017108101 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 26.186425 99.81870392 2613.895004 7.184120465 FORMULA: 1000*(1+T)= 2613.895004 = 2613.895004 T = 14.31% R = 161.39%
NLIC VAII EQUITY 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 14.523576 0.030846398 0.06 2FEE 10/25/92 0.448 15.104047 0.029660925 0.05 3FEE 10/25/93 0.448 19.798041 0.022628501 0.04 4 10/25/94 0.448 18.266185 0.024526194 0.03 5 10/25/95 0.448 23.879799 0.018760627 0.02 6 10/25/96 0.448 27.540367 0.016267031 0.01 7 10/25/97 0.448 37.541273 0.011933532 0 8 12/31/97 0.448 38.210604 0.011724494 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 38.210604 99.8336523 3814.704154 7.184120465 FORMULA: 1000*(1+T)= 3814.704154 = 3814.704154 T = 20.49% R = 281.47%
NLIC VAII QUALITY INCOME 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 11.489411 0.038992425 0.06 2FEE 10/25/92 0.448 12.599521 0.035556907 0.05 3FEE 10/25/93 0.448 14.546527 0.030797729 0.04 4 10/25/94 0.448 13.016184 0.03441869 0.03 5 10/25/95 0.448 15.605654 0.028707544 0.02 6 10/25/96 0.448 15.918424 0.02814349 0.01 7 10/25/97 0.448 17.296779 0.025900776 0 8 12/31/97 0.448 17.675955 0.025345165 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 17.675955 99.75213727 1763.21429 7.184120465 FORMULA: 1000*(1+T)= 1763.21429 = 1763.21429 T = 8.21% R = 76.32%
NLIC VAII STRATEGIST 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 12.334542 0.036320765 0.06 2FEE 10/25/92 0.448 13.457068 0.033291056 0.05 3FEE 10/25/93 0.448 14.979849 0.029906844 0.04 4 10/25/94 0.448 15.440267 0.029015042 0.03 5 10/25/95 0.448 16.243313 0.02758058 0.02 6 10/25/96 0.448 18.179915 0.024642579 0.01 7 10/25/97 0.448 21.285809 0.021046886 0 8 12/31/97 0.448 21.172661 0.021159362 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 21.172661 99.77703689 2112.545378 7.184120465 FORMULA: 1000*(1+T)= 2112.545378 = 2112.545378 T = 10.97% R = 111.25%
NLIC VAII DIVIDEND GROWTH 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 13.047578 0.034335874 0.06 2FEE 10/25/92 0.448 14.276117 0.031381082 0.05 3FEE 10/25/93 0.448 16.325837 0.027441166 0.04 4 10/25/94 0.448 16.012048 0.027978932 0.03 5 10/25/95 0.448 19.900968 0.022511468 0.02 6 10/25/96 0.448 24.524081 0.018267759 0.01 7 10/25/97 0.448 31.789831 0.014092557 0 8 12/31/97 0.448 32.034547 0.013984902 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.034547 99.81000626 3197.368337 7.184120465 FORMULA: 1000*(1+T)= 3197.368337 = 3197.368337 T = 17.56% R = 219.74%
NLIC VAII UTILITIES 10/25/90 TO NO. YEARS 7.184120465 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/25/90 1000 10 100 1FEE 10/25/91 0.448 11.592705 0.038644993 0.06 2FEE 10/25/92 0.448 12.936041 0.034631925 0.05 3FEE 10/25/93 0.448 16.104178 0.027818868 0.04 4 10/25/94 0.448 14.206767 0.031534268 0.03 5 10/25/95 0.448 16.821261 0.026632962 0.02 6 10/25/96 0.448 18.256079 0.024539771 0.01 7 10/25/97 0.448 21.53085 0.020807353 0 8 12/31/97 0.448 23.795739 0.0188269 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 23.795739 99.77656296 2374.257051 7.184120465 FORMULA: 1000*(1+T)= 2374.257051 = 2374.257051 T = 12.79% R = 137.43%
NLIC VAII EUROPEAN GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 3/1/91 1000 10 100 1FEE 3/1/92 0.448 10.281855 0.043571904 0.06 2FEE 3/1/93 0.448 10.693178 0.04189587 0.05 3FEE 3/1/94 0.448 14.671083 0.03053626 0.04 4 3/1/95 0.448 15.519258 0.02886736 0.03 5 3/1/96 0.448 19.699013 0.022742256 0.02 6 3/1/97 0.448 24.080107 0.018604568 0.01 7 12/31/97 0.448 27.417722 0.016339797 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.417722 99.79744199 2736.218521 6.836413415 FORMULA: 1000*(1+T)= 2736.218521 = 2736.218521 T = 15.86% R = 173.62%
NLIC VAII CAPITAL GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 3/1/91 1000 10 100 1FEE 3/1/92 0.448 12.112815 0.036985622 0.06 2FEE 3/1/93 0.448 11.787466 0.038006472 0.05 3FEE 3/1/94 0.448 11.661952 0.038415524 0.04 4 3/1/95 0.448 12.036405 0.037220416 0.03 5 3/1/96 0.448 15.55198 0.028806621 0.02 6 3/1/97 0.448 16.64696 0.026911821 0.01 7 12/31/97 0.448 19.849883 0.022569403 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 19.849883 99.77108412 1980.444347 6.836413415 FORMULA: 1000*(1+T)= 1980.444347 = 1980.444347 T = 10.51% R = 98.04%
NLIC VAII PACIFIC GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 2/22/94 1000 10 100 1FEE 2/22/95 0.448 8.606719 0.052052356 0.06 2FEE 2/22/96 0.448 10.351365 0.043279316 0.05 3FEE 2/22/97 0.448 9.886421 0.04531468 0.04 4 12/31/97 0.448 6.003407 0.074624293 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.003407 99.78472936 599.0483427 3.854893908 FORMULA: 1000*(1+T)= 599.0483427 = 573.5483427 T = -13.43% R = -42.65%
NLIC VAII GLOBAL DIVIDEND GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 2/22/94 1000 10 100 1FEE 2/22/95 0.448 9.952901 0.045012002 0.06 2FEE 2/22/96 0.448 12.219025 0.036664136 0.05 3FEE 2/22/97 0.448 13.792264 0.032481977 0.04 4 12/31/97 0.448 15.162705 0.029546179 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.162705 99.85629571 1514.091554 3.854893908 FORMULA: 1000*(1+T)= 1514.091554 = 1488.591554 T = 10.87% R = 48.86%
NLIC VAII CAPITAL APPRECIATION 1/21/97 TO NO. YEARS 0.941820671 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 1/21/97 1000 10 100 1FEE 12/31/97 0.448 11.1517 0.040173247 0.06 2FEE N/A 0 N/A 0 0.05 3FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.1517 99.95982675 1114.722 0.941820671 FORMULA: 1000*(1+T)= 1114.722 = 1063.722 T = 6.78% R = 6.37%
NLIC VAII INCOME BUILDER 1/21/97 TO NO. YEARS 0.941820671 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 1/21/97 1000 10 100 1FEE 12/31/97 0.448 12.056457 0.037158512 0.06 2FEE N/A 0 N/A 0 0.05 3FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.056457 99.96284149 1205.1977 0.941820671 FORMULA: 1000*(1+T)= 1205.1977 = 1154.1977 T = 16.45% R = 15.42%
NLIC VAII EQUITY GROWTH 1/2/97 TO NO. YEARS 0.993839836 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 1/2/97 1000 10 100 1FEE 12/31/97 0.448 13.096683 0.034207135 0.06 2FEE N/A 0 N/A 0 0.05 3FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.096683 99.96579287 1309.2203 0.993839836 FORMULA: 1000*(1+T)= 1309.2203 = 1258.2203 T = 26.00% R = 25.82%
NLIC VAII INTERNATIONAL MAGNUM 1/2/97 TO NO. YEARS 0.993839836 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 1/2/97 1000 10 100 1FEE 12/31/97 0.448 10.562966 0.04241233 0.06 2FEE N/A 0 N/A 0 0.05 3FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.562966 99.95758767 1055.8486 0.993839836 FORMULA: 1000*(1+T)= 1055.8486 = 1004.8486 T = 0.49% R = 0.48%
NLIC VAII EMERGING MARKETS 10/1/96 TO NO. YEARS 1.248459959 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 10/1/96 1000 10 100 1FEE 10/1/97 0.448 11.910475 0.037613949 0.06 2FEE 12/31/97 0.448 9.634048 0.04650174 0.05 3FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.634048 99.91588431 962.5944254 1.248459959 FORMULA: 1000*(1+T)= 962.5944254 = 920.0944254 T = -6.45% R = -7.99%
NLIC VAII EMERGING GROWTH 7/3/95 TO NO. YEARS 2.496919918 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE SURRENDER CHARGES 0INIT DEPOSIT 7/3/95 1000 10 100 1FEE 7/3/96 0.448 13.513333 0.033152443 0.06 2FEE 7/3/97 0.448 14.733975 0.030405916 0.05 3FEE 12/31/97 0.448 15.81009 0.028336335 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14FEE N/A 0 N/A 0 0 15FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.81009 99.90810531 1579.556137 2.496919918 FORMULA: 1000*(1+T)= 1579.556137 = 1545.556137 T = 19.05% R = 54.56%
NLIC VAII MONEY MARKET 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.397714 119.0800258 FEE 12/31/88 0.448 8.862911 0.050547726 FEE 12/31/89 0.448 9.51332 0.047091867 FEE 12/31/90 0.448 10.10648 0.044327996 FEE 12/31/91 0.448 10.519202 0.042588782 FEE 12/31/92 0.448 10.708868 0.041834487 FEE 12/31/93 0.448 10.829712 0.041367674 FEE 12/31/94 0.448 11.071838 0.04046302 FEE 12/31/95 0.448 11.508735 0.038926954 FEE 12/31/96 0.448 11.905367 0.037630087 FEE 12/31/97 0.448 12.330983 0.036331248 RESULTING VALUE 12/31/97 12.330983 118.658916 1463.181 10 FORMULA: 1000*(1+T)= 1463.181076 - (0.85 * 1000 * 0) = 1463.181076 T = 3.88% R = 46.32%
NLIC VAII HIGH YIELD 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 13.184852 75.8446132 FEE 12/31/88 0.448 14.407168 0.031095632 FEE 12/31/89 0.448 12.394992 0.03614363 FEE 12/31/90 0.448 8.928469 0.050176576 FEE 12/31/91 0.448 13.941981 0.032133167 FEE 12/31/92 0.448 16.250889 0.027567723 FEE 12/31/93 0.448 19.862432 0.022555143 FEE 12/31/94 0.448 19.117027 0.023434606 FEE 12/31/95 0.448 21.581341 0.020758673 FEE 12/31/96 0.448 23.783763 0.01883638 FEE 12/31/97 0.448 26.186425 0.017108101 RESULTING VALUE 12/31/97 26.186425 75.56480357 1978.772 10 FORMULA: 1000*(1+T)= 1978.772061 - (0.85 * 1000 * 0) = 1978.772061 T = 7.06% R = 97.88%
NLIC VAII EQUITY 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.935178 111.9171884 FEE 12/31/88 0.448 9.64204 0.046463197 FEE 12/31/89 0.448 11.281705 0.03971031 FEE 12/31/90 0.448 10.701099 0.041864859 FEE 12/31/91 0.448 16.751568 0.026743765 FEE 12/31/92 0.448 16.51307 0.027130025 FEE 12/31/93 0.448 19.455923 0.023026407 FEE 12/31/94 0.448 18.010317 0.024874632 FEE 12/31/95 0.448 25.545466 0.017537359 FEE 12/31/96 0.448 28.248188 0.015859424 FEE 12/31/97 0.448 38.210604 0.011724494 RESULTING VALUE 12/31/97 38.210604 111.642254 4265.918 10 FORMULA: 1000*(1+T)= 4265.917956 - (0.85 * 1000 * 0) = 4265.917956 T = 15.61% R = 326.59%
NLIC VAII QUALITY INCOME 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.417949 118.7937822 FEE 12/31/88 0.448 8.902424 0.050323373 FEE 12/31/89 0.448 9.887111 0.045311517 FEE 12/31/90 0.448 10.398609 0.043082685 FEE 12/31/91 0.448 12.128755 0.036937015 FEE 12/31/92 0.448 12.925627 0.034659827 FEE 12/31/93 0.448 14.377142 0.031160574 FEE 12/31/94 0.448 13.180086 0.033990674 FEE 12/31/95 0.448 16.171531 0.027703005 FEE 12/31/96 0.448 16.162888 0.027717819 FEE 12/31/97 0.448 17.675955 0.025345165 RESULTING VALUE 12/31/97 17.675955 118.4375505 2093.497 10 FORMULA: 1000*(1+T)= 2093.496814 - (0.85 * 1000 * 0) = 2093.496814 T = 7.67% R = 109.35%
NLIC VAII STRATEGIST 12/31/87 TO NO. YEARS 10 12/31/97 TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE INIT DEPOSIT 12/31/87 1000 8.669714 115.3440586 FEE 12/31/88 0.448 9.6248 0.046546422 FEE 12/31/89 0.448 10.484594 0.042729361 FEE 12/31/90 0.448 10.47884 0.042752824 FEE 12/31/91 0.448 13.228466 0.033866361 FEE 12/31/92 0.448 13.961977 0.032087146 FEE 12/31/93 0.448 15.170142 0.029531695 FEE 12/31/94 0.448 15.532966 0.028841884 FEE 12/31/95 0.448 16.710795 0.026809018 FEE 12/31/96 0.448 18.916699 0.023682779 FEE 12/31/97 0.448 21.172661 0.021159362 RESULTING VALUE 12/31/97 21.172661 115.0160518 2435.196 10 FORMULA: 1000*(1+T)= 2435.195874 - (0.85 * 1000 * 0) = 2435.195874 T = 9.31% R = 143.52%
NLIC VAII DIVIDEND GROWTH 3/2/90 TO NO. YEARS 7.832991102 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES INIT DEPOSIT 3/2/90 1000 12.125397 82.4715265 1 FEE 3/2/91 0.448 12.455402 0.035968329 0.06 2 FEE 3/2/92 0.448 13.95215 0.032109747 0.05 3 FEE 3/2/93 0.448 15.468493 0.028962097 0.04 4 3/2/94 0.448 16.456264 0.027223676 0.03 5 3/2/95 0.448 16.784958 0.026690564 0.02 6 3/2/96 0.448 22.513567 0.019899112 0.01 7 3/2/97 0.448 26.871271 0.016672081 0 8 12/31/97 0.448 32.034547 0.013984902 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 32.034547 82.27001599 2635.483 7.832991102 FORMULA: 1000*(1+T)= 2635.482694 = 2635.482694 T = 13.17% R = 163.55%
NLIC VAII UTILITIES 3/2/90 TO NO. YEARS 7.832991102 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES INIT DEPOSIT 3/2/90 1000 10.146697 98.55423888 1 FEE 3/2/91 0.448 10.802462 0.041472027 0.06 2 FEE 3/2/92 0.448 11.94858 0.037493995 0.05 3 FEE 3/2/93 0.448 14.862886 0.030142194 0.04 4 3/2/94 0.448 14.918016 0.030030803 0.03 5 3/2/95 0.448 14.514281 0.030866152 0.02 6 3/2/96 0.448 17.88562 0.025048055 0.01 7 3/2/97 0.448 19.187786 0.023348186 0 8 12/31/97 0.448 23.795739 0.0188269 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 23.795739 98.31701057 2339.526 7.832991102 fORMULA: 1000*(1+T)= 2339.525923 = 2339.525923 T = 11.46% R = 133.95%
NLIC VAII EUROPEAN GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 3/1/91 1000 10 100 1 FEE 3/1/92 0.448 10.281855 0.043571904 0.06 2 FEE 3/1/93 0.448 10.693178 0.04189587 0.05 3 FEE 3/1/94 0.448 14.671083 0.03053626 0.04 4 3/1/95 0.448 15.519258 0.02886736 0.03 5 3/1/96 0.448 19.699013 0.022742256 0.02 6 3/1/97 0.448 24.080107 0.018604568 0.01 7 12/31/97 0.448 27.417722 0.016339797 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 27.417722 99.79744199 2736.219 6.836413415 FORMULA: 1000*(1+T)= 2736.218521 = 2736.218521 T = 15.86% R = 173.62%
NLIC VAII CAPITAL GROWTH 3/1/91 TO NO. YEARS 6.836413415 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 3/1/91 1000 10 100 1 FEE 3/1/92 0.448 12.112815 0.036985622 0.06 2 FEE 3/1/93 0.448 11.787466 0.038006472 0.05 3 FEE 3/1/94 0.448 11.661952 0.038415524 0.04 4 3/1/95 0.448 12.036405 0.037220416 0.03 5 3/1/96 0.448 15.55198 0.028806621 0.02 6 3/1/97 0.448 16.64696 0.026911821 0.01 7 12/31/97 0.448 19.849883 0.022569403 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 19.849883 99.77108412 1980.444 6.836413415 FORMULA: 1000*(1+T)= 1980.444347 = 1980.444347 T = 10.51% R = 98.04%
NLIC VAII PACIFIC GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 2/22/94 1000 10 100 1 FEE 2/22/95 0.448 8.606719 0.052052356 0.06 2 FEE 2/22/96 0.448 10.351365 0.043279316 0.05 3 FEE 2/22/97 0.448 9.886421 0.04531468 0.04 4 12/31/97 0.448 6.003407 0.074624293 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 6.003407 99.78472936 599.0483 3.854893908 FORMULA: 1000*(1+T)= 599.0483427 = 573.5483427 T = -13.43% R = -42.65%
NLIC VAII GLOBAL DIVIDEND GROWTH 2/22/94 TO NO. YEARS 3.854893908 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 2/22/94 1000 10 100 1 FEE 2/22/95 0.448 9.952901 0.045012002 0.06 2 FEE 2/22/96 0.448 12.219025 0.036664136 0.05 3 FEE 2/22/97 0.448 13.792264 0.032481977 0.04 4 12/31/97 0.448 15.162705 0.029546179 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.162705 99.85629571 1514.092 3.854893908 FORMULA: 1000*(1+T)= 1514.091554 = 1488.591554 T = 10.87% R = 48.86%
NLIC VAII CAPITAL APPRECIATION 1/21/97 TO NO. YEARS 0.941820671 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 11.1517 0.040173247 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 11.1517 99.95982675 1114.722 0.941820671 FORMULA: 1000*(1+T)= 1114.722 = 1063.722 T = 6.78% R = 6.37%
NLIC VAII INCOME BUILDER 1/21/97 TO NO. YEARS 0.941820671 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 1/21/97 1000 10 100 1 FEE 12/31/97 0.448 12.056457 0.037158512 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 12.056457 99.96284149 1205.198 0.941820671 FORMULA: 1000*(1+T)= 1205.1977 = 1154.1977 T = 16.45% R = 15.42%
NLIC VAII EQUITY GROWTH 1/2/97 TO NO. YEARS 0.993839836 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 13.096683 0.034207135 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 13.096683 99.96579287 1309.22 0.993839836 FORMULA: 1000*(1+T)= 1309.2203 = 1258.2203 T = 26.00% R = 25.82%
NLIC VAII INTERNATIONAL MAGNUM 1/2/97 TO NO. YEARS 0.993839836 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 1/2/97 1000 10 100 1 FEE 12/31/97 0.448 10.562966 0.04241233 0.06 2 FEE N/A 0 N/A 0 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 10.562966 99.95758767 1055.849 0.993839836 FORMULA: 1000*(1+T)= 1055.8486 = 1004.8486 T = 0.49% R = 0.48%
NLIC VAII EMERGING MARKETS 10/1/96 TO NO. YEARS 1.248459959 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 10/1/96 1000 10 100 1 FEE 10/1/97 0.448 11.910475 0.037613949 0.06 2 FEE 12/31/97 0.448 9.634048 0.04650174 0.05 3 FEE N/A 0 N/A 0 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 9.634048 99.91588431 962.5944 1.248459959 FORMULA: 1000*(1+T)= 962.5944254 = 920.0944254 T = -6.45% R = -7.99%
NLIC VAII EMERGING GROWTH 7/3/95 TO NO. YEARS 2.496919918 12/31/97 SURRENDER TRANSACTION DATE $ VALUE UNIT VALUE NO. UNITS END VALUE CHARGES 0 INIT DEPOSIT 7/3/95 1000 10 100 1 FEE 7/3/96 0.448 13.513333 0.033152443 0.06 2 FEE 7/3/97 0.448 14.733975 0.030405916 0.05 3 FEE 12/31/97 0.448 15.81009 0.028336335 0.04 4 N/A 0 N/A 0 0.03 5 N/A 0 N/A 0 0.02 6 N/A 0 N/A 0 0.01 7 N/A 0 N/A 0 0 8 N/A 0 N/A 0 0 9 N/A 0 N/A 0 0 10 N/A 0 N/A 0 0 11 N/A 0 N/A 0 0 12 N/A 0 N/A 0 0 13 N/A 0 N/A 0 0 14 FEE N/A 0 N/A 0 0 15 FEE N/A 0 N/A 0 0 RESULTING VALUE 12/31/97 15.81009 99.90810531 1579.556 2.496919918 FORMULA: 1000*(1+T)= 1579.556137 = 1545.556137 T = 19.05% R = 54.56%
Non-Standardized Calculations Dates: Current: 12/31/97 3 Months Ago: 9/30/97 End of Last Year: 12/31/96 One Yr Ago: 12/31/96 Two Yrs Ago: 12/29/95 Three Yrs Ago: 12/31/94 Five Yrs Ago: 12/31/92 Ten Yrs Ago: 12/31/87 Inception Inception Ten Yr Five Yr Three Two One Yr Fund Date AUV AUV AUV AUV AUV AUV Money Market 10/25/90 10N/A 10.708868 11.071838 11.508735 11.905367 High Yield 10/25/90 10N/A 16.250889 19.117027 21.581341 23.783763 Equity 10/25/90 10N/A 16.51307 18.010317 25.545466 28.248188 Quality Income 10/25/90 10N/A 12.925627 13.180086 16.171531 16.162888 Managed Assets 10/25/90 10N/A 13.961977 15.532966 16.710795 18.916699 Dividend Growth 10/25/90 10N/A 14.767228 15.910016 21.240032 25.912299 Utilities 10/25/90 10N/A 13.768616 14.050329 17.777227 19.014042 European Growth 3/1/91 10N/A 10.235625 15.158111 18.757836 23.997344 Capital Growth 3/1/91 10N/A 12.675973 11.220177 14.751346 16.193773 Pacific Growth 2/22/94 10N/A N/A 9.111947 9.576398 9.790881 Global Div Growth 2/22/94 10N/A N/A 9.87493 11.882013 13.750233 Capital Appreciation 1/21/97 10N/A N/A N/A N/A N/A Income Builder 1/21/97 10N/A N/A N/A N/A N/A Equity Growth 1/2/97 10N/A N/A N/A N/A N/A International Magnum 1/2/97 10N/A N/A N/A N/A N/A Emerging Markets 10/1/96 10N/A N/A N/A N/A 9.75842 Emerging Growth 7/3/95 10N/A N/A N/A 11.619124 13.338966 Non-Standardized Performance YTD 3 Months Today's Inception Ten Years Five Years AUV AUV AUV Total Average Total Average Total 11.905367 12.21947 12.330983 23.31% 2.96%N/A N/A 15.15% 23.783763 25.863387 26.186425 161.86% 14.33%N/A N/A 61.14% 28.248188 38.059534 38.210604 282.11% 20.50%N/A N/A 131.40% 16.162888 17.152736 17.675955 76.76% 8.25%N/A N/A 36.75% 18.916699 21.607779 21.172661 111.73% 11.00%N/A N/A 51.65% 25.912299 32.089856 32.034547 220.35% 17.58%N/A N/A 116.93% 19.014042 21.221738 23.795739 137.96% 12.82%N/A N/A 72.83% 23.997344 28.030582 27.417722 174.18% 15.89%N/A N/A 167.87% 16.193773 21.368018 19.849883 98.50% 10.54%N/A N/A 56.59% 9.790881 8.322457 6.003407 -39.97% -12.39%N/A N/A N/A 13.750233 15.971378 15.162705 51.63% 11.39%N/A N/A N/A 10 12.343895 11.1517 11.52% 12.26%N/A N/A N/A 10 11.755517 12.056457 20.56% 21.95%N/A N/A N/A 10 12.689574 13.096683 30.97% 31.16%N/A N/A N/A 10 11.47381 10.562966 5.63% 5.66%N/A N/A N/A 9.75842 11.881412 9.634048 -3.66% -2.94%N/A N/A N/A 13.338966 16.838627 15.81009 58.10% 20.12%N/A N/A N/A Three Years Two Years One Year YTD Three Months Average Total Average Total Average 2.86% 11.37% 3.66% 7.14% 3.51% 3.57% 3.57% 0.91% 10.01% 36.98% 11.06% 21.34% 10.15% 10.10% 10.10% 1.25% 18.27% 112.16% 28.50% 49.58% 22.30% 35.27% 35.27% 0.40% 6.46% 34.11% 10.28% 9.30% 4.55% 9.36% 9.36% 3.05% 8.68% 36.31% 10.88% 26.70% 12.56% 11.93% 11.93% -2.01% 16.75% 101.35% 26.27% 50.82% 22.81% 23.63% 23.63% -0.17% 11.56% 69.36% 19.20% 33.86% 15.70% 25.15% 25.15% 12.13% 21.78% 80.88% 21.84% 46.17% 20.90% 14.25% 14.25% -2.19% 9.38% 76.91% 20.94% 34.56% 16.00% 22.58% 22.58% -7.10% N/A -34.11% -12.98% -37.31% -20.82% -38.68% -38.68% -27.86% N/A 53.55% 15.37% 27.61% 12.96% 10.27% 10.27% -5.06% N/A N/A N/A N/A N/A N/A 11.52% -9.66% N/A N/A N/A N/A N/A N/A 20.56% 2.56% N/A N/A N/A N/A N/A N/A 30.97% 3.21% N/A N/A N/A N/A N/A N/A 5.63% -7.94% N/A N/A N/A N/A N/A -1.27% -1.27% -18.91% N/A N/A N/A 36.07% 16.65% 18.53% 18.53% -6.11%
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