497 1 c37287_497.txt SUPPLEMENT DATED MAY 3, 2005 TO THE PROSPECTUS DATED MAY 2, 2005 UNIVERSAL ANNUITY The following information supplements, and to the extent inconsistent therewith, replaces the information in the prospectus. Please retain this supplement and keep it with the prospectus for future reference. In the section entitled "Appendix A - Condensed Financial Information," the Condensed Financial Information relating to The Travelers Growth and Income Stock Account for Variable Annuities, The Travelers Money Market Account for Variable Annuities, The Travelers Quality Bond Account for Variable Annuities, the Tactical Aggressive Stock Account for Variable Annuities, the Tactical Growth and Income Stock Account for Variable Annuities, and the Tactical Short-Term Bond Account for Variable Annuities, is replaced with the attached information. May, 2005 L-24510 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- THE TRAVELERS GROWTH AND INCOME STOCK ACCOUNT FOR VARIABLE ANNUITIES PER UNIT DATA FOR AN ACCUMULATION AND ANNUITY UNIT OUTSTANDING THROUGHOUT EACH YEAR The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of The Travelers Growth and Income Stock Account for Variable Annuities ("Account GIS"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account GIS' Annual Report, which is incorporated by reference into the statement of additional information.
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 ----------------------------------------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income.................... $ .330 $ .251 $ .229 $ .254 $ .232 $ .256 $ .234 Operating expenses......................... .331 .281 .287 .343 .416 .385 .303 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Net investment income (loss)............... (.001) (.030) (.058) (.089) (.184) (.129) (.069) Unit Value at beginning of year............ 17.028 13.496 17.245 20.498 23.436 19.253 14.955 Net realized and change in unrealized gains (losses)........................... 1.876 3.562 (3.691) (3.164) (2.754) 4.312 4.367 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Unit Value at end of year.................. $ 18.903 $ 17.028 $ 13.496 $ 17.245 $ 20.498 $ 23.436 $ 19.253 ========== ========== ========== ========== ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value...... $ 1.88 $ 3.53 $ (3.75) $ (3.25) $ (2.94) $ 4.18 $ 4.30 Ratio of operating expenses to average net assets................................... 1.90% 1.90% 1.89 1.88% 1.85% 1.85% 1.81% Ratio of net investment income (loss) to average net assets....................... (0.02)% (0.19)% (.37)% (.49)% (.82)% (.62)% (.41)% Number of units outstanding at end of year (thousands).............................. 19,978 21,853 24,100 27,559 29,879 32,648 32,051 Portfolio turnover rate.................... 43% 68% 54% 32% 52% 47% 50% CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income.................... $ .228 $ .212 $ .205 Operating expenses......................... .228 .175 .140 ---------- ---------- ---------- Net investment income (loss)............... .000 .037 .065 Unit Value at beginning of year............ 11.371 9.369 6.917 Net realized and change in unrealized gains (losses)........................... 3.584 1.965 2.387 ---------- ---------- ---------- Unit Value at end of year.................. $ 14.955 $ 11.371 $ 9.369 ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value...... $ 3.58 $ 2.00 $ 2.45 Ratio of operating expenses to average net assets................................... 1.70% 1.70% 1.70% Ratio of net investment income (loss) to average net assets....................... .00% .36% .79% Number of units outstanding at end of year (thousands).............................. 29,545 27,578 26,688 Portfolio turnover rate.................... 64% 85% 96%
CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 --------------------------------------------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income.................... $ .348 $ .264 $ .240 $ .266 $ .242 $ .267 $ .243 Operating expenses......................... .303 .256 .261 .311 .376 .347 .272 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Net investment income (loss)............... .045 .008 (.021) (.045) (.134) (.080) (.029) Unit Value at beginning of year............ 17.926 14.172 18.064 21.418 24.427 20.017 15.510 Net realized and change in unrealized gains (losses)........................... 1.978 3.746 (3.871) (3.309) (2.875) 4.490 4.536 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Unit Value at end of year.................. $ 19.949 $ 17.926 $ 14.172 $ 18.064 $ 21.418 24.427 $ 20.017 ========== ========== ========== ========== ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value...... $ 2.02 $ 3.75 $ (3.89) $ (3.35) $ (3.01) $ 4.41 $ 4.51 Ratio of operating expenses to average net assets................................... 1.65% 1.65% 1.64% 1.63% 1.60% 1.60% 1.56% Ratio of net investment income (loss) to average net assets....................... 0.23% .06% (.12)% (.24)% (.57)% (.37)% (.16)% Number of units outstanding at end of year (thousands).............................. 7,413 8,139 9,089 10,329 11,413 12,646 13,894 Portfolio turnover rate.................... 43% 68% 54% 32% 52% 47% 50% CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income.................... $ .233 $ .216 $ .208 Operating expenses......................... .201 .154 .123 ---------- ---------- ---------- Net investment income (loss)............... .032 .062 .085 Unit Value at beginning of year............ 11.763 9.668 7.120 Net realized and change in unrealized gains (losses)........................... 3.715 2.033 2.463 ---------- ---------- ---------- Unit Value at end of year.................. $ 15.510 $ 11.763 $ 9.668 ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value...... $ 3.75 $ 2.10 $ 2.55 Ratio of operating expenses to average net assets................................... 1.45% 1.45 1.45% Ratio of net investment income (loss) to average net assets....................... .24% .60% 1.02% Number of units outstanding at end of year (thousands).............................. 15,194 16,554 17,896 Portfolio turnover rate.................... 64% 85% 96%
2 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- THE TRAVELERS QUALITY BOND ACCOUNT FOR VARIABLE ANNUITIES PER UNIT DATA FOR AN ACCUMULATION AND ANNUITY UNIT OUTSTANDING THROUGHOUT EACH YEAR The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of The Travelers Quality Bond Account for Variable Annuities ("Account QB"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account QB's Annual Report, which is incorporated by reference into the statement of additional information.
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 --------------------------------------------- --------- --------- ---------- ---------- ---------- --------- --------- SELECTED PER UNIT DATA Total investment income............................ $ .304 $ .328 $ .363 $ .402 $ .427 $ .378 $ .350 Operating expenses................................. .110 .105 .097 .101 .092 .091 .088 --------- --------- ---------- ---------- ---------- --------- --------- Net investment income.............................. .194 .223 .266 .301 .335 .287 .262 Unit Value at beginning of year.................... 6.917 6.356 6.309 6.063 5.810 5.765 5.393 Net realized and change in unrealized gains (losses)......................................... .002 .338 (.219) (.055) (.082) (.242) .110 --------- --------- ---------- ---------- ---------- --------- --------- Unit Value at end of year.......................... $ 7.113 $ 6.917 $ 6.356 $ 6.309 $ 6.063 $ 5.810 $ 5.765 ========= ========= ========== ========== ========== ========= ========= SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value.............. $ .20 $ .56 $ .05 $ .25 $ .25 $ .04 $ .37 Ratio of operating expenses to average net assets.. 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% Ratio of net investment income to average net assets........................................... 2.78% 3.33% 4.31% 4.74% 5.69% 4.97% 4.71% Number of units outstanding at end of year (thousands)...................................... 10,296 11,682 12,733% 15,116 14,045 17,412 21,251 Portfolio turnover rate............................ 98% 139% 113% 166% 105% 340% 438% CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- --------- ---------- ---------- SELECTED PER UNIT DATA Total investment income............................ $ .342 $ .368 $ .319 Operating expenses................................. .082 .078 .073 --------- ---------- ---------- Net investment income.............................. .260 .290 .246 Unit Value at beginning of year.................... 5.060 4.894 4.274 Net realized and change in unrealized gains (losses)......................................... (.073) (.124) .374 --------- ---------- ---------- Unit Value at end of year.......................... $ 5.393 $ 5.060 $ 4.894 ========= ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value.............. $ .33 $ .17 $ .62 Ratio of operating expenses to average net assets.. 1.57% 1.57% 1.57% Ratio of net investment income to average net assets........................................... 5.00% 5.87 5.29% Number of units outstanding at end of year (thousands)...................................... 21,521 24,804 27,066 Portfolio turnover rate............................ 196% 176% 138%
CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 ----------------------------------------- --------- --------- ---------- ---------- ---------- --------- --------- SELECTED PER UNIT DATA Total investment income............................ $ .321 $ .345 $ .381 $ .421 $ .446 $ .393 $ .363 Operating expenses................................. .097 .093 .086 .089 .081 .080 .076 --------- --------- ---------- ---------- ---------- --------- --------- Net investment income.............................. .224 .252 .295 .332 .365 .313 .287 Unit Value at beginning of year.................... 7.281 6.674 6.608 6.335 6.055 5.994 5.593 Net realized and change in unrealized gains (losses)......................................... .002 .355 (.229) (.059) (.085) (.252) .114 --------- --------- ---------- ---------- ---------- --------- --------- Unit Value at end of year.......................... $ 7.507 $ 7.281 $ 6.674 $ 6.608 $ 6.335 $ 6.055 $ 5.994 ========= ========= ========== ========== ========== ========= ========= SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value.............. $ .23 $ .61 $ .07 $ .27 $ .28 $ .06 $ .40 Ratio of operating expenses to average net assets.. 1.33% 1.33% 1.33% 1.33% 1.33% 1.33% 1.33% Ratio of net investment income to average net assets........................................... 3.03% 3.58% 4.56% 4.99% 5.93% 5.22% 4.96% Number of units outstanding at end of year (thousands)...................................... 3,717 4,207 4,684 5,194 5,491 6,224 6,880 Portfolio turnover rate............................ 98% 139% 113% 166% 105% 340% 438% CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- --------- ---------- ---------- SELECTED PER UNIT DATA Total investment income............................ $ .353 $ .379 $ .328 Operating expenses................................. .071 .067 .063 --------- ---------- ---------- Net investment income.............................. .282 .312 .265 Unit Value at beginning of year.................... 5.234 5.050 4.400 Net realized and change in unrealized gains (losses)......................................... (.077) (.128) (.3850) --------- ---------- ---------- Unit Value at end of year.......................... $ 5.593 $ 5.234 $ 5.050 ========= ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value.............. $ .36 $ .18 $ (.65) Ratio of operating expenses to average net assets.. 1.33% 1.33% 1.33 Ratio of net investment income to average net assets........................................... 5.25% 6.12% 5.54 Number of units outstanding at end of year (thousands)...................................... 7,683 8,549 9,325 Portfolio turnover rate............................ 196% 176% 138
3 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- THE TRAVELERS MONEY MARKET ACCOUNT FOR VARIABLE ANNUITIES PER UNIT DATA FOR AN ACCUMULATION AND ANNUITY UNIT OUTSTANDING THROUGHOUT EACH YEAR The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of The Travelers Money Market Account for Variable Annuities ("Account MM"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account MM's Annual Report, which is incorporated by reference into the statement of additional information.
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 --------------------------------------------- ---------- ---------- ---------- --------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income........................... $ .038 $ .032 $ .048 $ .114 $ .167 $ .130 $ .133 Operating expenses................................. .043 .043 .043 .042 .041 .039 .038 ---------- ---------- ---------- --------- ---------- ---------- ---------- Net investment income............................. (.005) (.011) .005 .072 .126 .091 .095 Unit Value at beginning of year................... 2.733 2.744 2.739 2.667 2.541 2.450 2.355 ---------- ---------- ---------- --------- ---------- ---------- ---------- Unit Value at end of year......................... $ 2.728 $ 2.733 $ 2.744 $ 2.739 $ 2.667 $ 2.541 $ 2.450 ========== ========== ========== ========= ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase in unit value........................ $ (.01) $ (.01) $ .01 $ .07 $ .13 $ .09 $ .10 Ratio of operating expenses to average net assets. 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% 1.57% Ratio of net investment income to average net assets.......................................... (0.18) % (0.41)% 0.21% 2.64% 4.84% 3.62% 3.95% Number of units outstanding at end of year (thousands)..................................... 24,485 32,559 50,702 63,430 55,477 70,545 41,570 CONTRACTS ISSUED ON OR AFTER MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income........................... $ .128 $ .121 $ .127 Operating expenses................................. .036 .035 .034 ---------- ---------- ---------- Net investment income............................. .092 .086 .093 Unit Value at beginning of year................... 2.263 2.177 2.084 ---------- ---------- ---------- Unit Value at end of year......................... $ 2.355 $ 2.263 $ 2.177 ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase in unit value........................ $ .09 $ .09 $ .09 Ratio of operating expenses to average net assets. 1.57% 1.57% 1.57% Ratio of net investment income to average net assets.......................................... 4.02% 3.84% 4.36% Number of units outstanding at end of year (thousands)..................................... 36.134 38,044 35,721
CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 --------------------------------------------- ---------- ---------- --------- --------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income........................... $ .040 $ .033 $ .051 $ .120 $ .174 $ .135 $ .138 Operating expenses................................ .038 .038 .038 .037 .037 .034 .033 ---------- ---------- --------- --------- ---------- ---------- ---------- Net investment income............................. .002 (.005) .013 .083 .137 .101 .105 Unit Value at beginning of year................... 2.877 2.882 2.869 2.786 2.649 2.548 2.443 ---------- ---------- --------- --------- ---------- ---------- ---------- Unit Value at end of year......................... $ 2.879 2.877 2.882 $ 2.869 $ 2.786 $ 2.649 $ 2.548 ========== ========== ========= ========= ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase in unit value........................ $ .00 $ (.01) $ .01 $ .08 $ .14 $ .10 $ .11 Ratio of operating expenses to average net assets. 1.33% 1.33% 1.33% 1.33% 1.33% 1.33% 1.33% Ratio of net investment income to average net assets.......................................... 0.07% (0.16)% .46% 2.89% 5.09% 3.87% 4.20% Number of units outstanding at end of year (thousands)..................................... 26 39 49 60 70 80 91 CONTRACTS ISSUED PRIOR TO MAY 16, 1983 (TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995 --------------------------------------------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income........................... $ .134 $ .125 $ .130 Operating expenses................................ .032 .030 .030 ---------- ---------- ---------- Net investment income............................. .102 .095 .100 Unit Value at beginning of year................... 2.341 2.246 2.146 ---------- ---------- ---------- Unit Value at end of year......................... $ 2.443 $ 2.341 $ 2.246 ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase in unit value........................ $ .10 $ .10 $ .10 Ratio of operating expenses to average net assets. 1.33% 1.33% 1.33% Ratio of net investment income to average net assets.......................................... 4.27% 4.10% 4.61% Number of units outstanding at end of year (thousands)..................................... 105 112 206
-------------- * Annualized. 4 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- TACTICAL GROWTH AND INCOME STOCK ACCOUNT FOR VARIABLE ANNUITIES* PER UNIT DATA FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT EACH PERIOD The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of the Tactical Growth and Income Stock Account for Variable Annuities ("Account TGIS"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account TGIS' Annual Report, which is incorporated by reference into the statement of additional information.
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 --------- --------- --------- --------- --------- --------- ---------- SELECTED PER UNIT DATA Total investment income...................... $ .073 $ .056 $ .052 $ .064 $ .094 $ .076 $ .064 Operating expenses........................... .110 .094 .097 .117 .145 .136 .110 --------- --------- --------- --------- --------- --------- ---------- Net investment income (loss)................. (.037) (.038) (.045) (.053) (.051) (.060) (.046) Unit Value at beginning of year 3.818 3.057 3.914 4.679 5.394 4.468 3.526 Net realized and change in unrealized gains (losses)................................... .414 (.799) (.812) (.712) (.664) .986 .988 --------- --------- --------- --------- --------- --------- ---------- Unit Value at end of year.................... $ 4.195 $ 3.818 $ 3.057 $ 3.914 $ 4.679 $ 5.394 $ 4.468 ========= ========= ========= ========= ========= ========= ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value........ $ .38 $ .76 $ (.86) $ (.77) $ (.72) $ .93 $ .94 Ratio of operating expenses to average net assets**................................... 2.82% 2.82% 2.82% 2.82% 2.82% 2.82% 2.82% Ratio of net investment income (loss) to average net assets......................... (0.96)% (1.14)% (1.27)% 1.30% (0.98)% (1.25)% (1.16)% Number of units outstanding at end of year (thousands)................................ 21,935 17,590 39,162 38,818 27,691 26,010 25,192 Portfolio turnover rate...................... 67% 68% 84% 59% 59% 51% 81% 1997 1996 1995 --------- --------- --------- SELECTED PER UNIT DATA Total investment income...................... $ .075 $ .061 $ .083 Operating expenses........................... .090 .069 .057 --------- --------- --------- Net investment income (loss)................. (.015) (.008) .026 Unit Value at beginning of year 2.717 2.263 1.695 Net realized and change in unrealized gains (losses)................................... .824 .462 (.542) --------- --------- --------- Unit Value at end of year.................... $ 3,526 $ 2.717 $ 2.263 ========= ========= ========= SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value........ $ .81 $ .45 $ (.57) Ratio of operating expenses to average net assets**................................... 2.82% 2.82% 2.82% Ratio of net investment income (loss) to average net assets......................... (.45)% (.34)% 1.37% Number of units outstanding at end of year (thousands)................................ 60,312 68,111 105,044 Portfolio turnover rate...................... 63% 81% 79%
-------------- * Prior to May 3, 2004, the Account was known as The Travelers Timed Growth and Income Account for Variable Annuities. ** Annualized 5 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- TACTICAL SHORT-TERM BOND ACCOUNT FOR VARIABLE ANNUITIES* PER UNIT DATA FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT EACH YEAR The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of the Tactical Short-Term Bond Account for Variable Annuities ("Account TSB"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account TSB's Annual Report, which is incorporated by reference into the statement of additional information.
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 1998 ---------- --------- --------- --------- -------- ---------- --------- SELECTED PER UNIT DATA Total investment income............... $ .020 $ .018 $ .028 $ .065 $ .096 $ .076 $ .078 Operating expenses.................... .042 .043 .044 .044 .042 .041 .040** ---------- --------- --------- --------- -------- ---------- --------- Net investment income (loss).......... (.022) (.025) (.016) .021 .054 .035 .038 Unit Value at beginning of year....... 1.508 1.533 1.549 1.527 1.473 1.437 1.399 Net realized and change in unrealized gains (losses)***................... -- -- -- .001 -- .001 .000 ---------- --------- --------- --------- -------- ---------- --------- Unit Value at end of year............. $ 1.486 $ 1.508 $ 1.533 $ 1.549 $ 1.527 $ 1.473 $ 1.437 ========== ========= ========= ========= ======== ========== ========= SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value. $ (.02) $ (.03) $ (.02) $ .02 $ .05 $ .04 $ .04 Ratio of operating expenses to average net assets****.............. 2.82% 2.82% 2.82% 2.82% 2.82% 2.82% 2.82%** Ratio of net investment income to average net assets.................. (1.43)% (1.67)% (1.04)% 1.37% 3.61% 2.38% 2.71% Number of units outstanding at end of year (thousands).................... 73,728 90,498 20,968 23,384 75,112 109,666 137,067 1997 1996 1995 --------- --------- --------- SELECTED PER UNIT DATA Total investment income............... $ .077 $ .057 $ .074 Operating expenses.................... .039** .030** .035** --------- --------- --------- Net investment income (loss).......... 0.38 .027 .039 Unit Value at beginning of year....... 1.361 1.333 1.292 Net realized and change in unrealized gains (losses)***................... .000 .001 .002 --------- --------- --------- Unit Value at end of year............. $ 1.399 $ 1.361 $ 1.333 ========= ========= ========= SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value. $ .04 $ .03 $ .04 Ratio of operating expenses to average net assets****.............. 2.82%** 2.82%** 2.82%** Ratio of net investment income to average net assets.................. 2.77% 2.47% 3.17% Number of units outstanding at end of year (thousands).................... 47,262 54,565 --
-------------- * Prior to May 1, 2004, the Account was known as The Travelers Timed Money Market Account for Variable Annuities. ** Effective May 2, 1994, Account TSB was authorized to invest in securities with a maturity of greater than one year. As a result, net realized and change in unrealized gains (losses) are no longer included in total investment income. *** Annualized. 6 CONDENSED FINANCIAL INFORMATION -------------------------------------------------------------------------------- TACTICAL AGGRESSIVE STOCK ACCOUNT FOR VARIABLE ANNUITIES* PER UNIT DATA FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT EACH YEAR The following selected per unit data, significant ratios and additional data for each of the years in the ten-year period ended December 31, 2004 have been derived from the audited financial statements of the Tactical Aggressive Stock Account for Variable Annuities ("Account TAS"). The information set out below should be read in conjunction with the financial statements and related notes that appear in Account TAS's Annual Report, which is incorporated by reference into the statement of additional information.
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 2004 2003 2002 2001 2000 1999 ---------- --------- ---------- ---------- ---------- ---------- SELECTED PER UNIT DATA Total investment income...................... $ .060 $ .053 $ .050 $ .063 $ .084 $ .052 Operating expenses........................... .153 .126 .125 .134 .135 .110 ---------- --------- ---------- ---------- ---------- ---------- Net investment income (loss)................. (.093) (.073) (.075) (.071) (.051) (.058) Unit Value at beginning of year 5.191 3.967 4.730 4.986 4.371 3.907 Net realized and change in unrealized gains (losses)............................. .822 1.297 (.688) (.185) .666 522 ---------- --------- ---------- ---------- ---------- ---------- Unit Value at end of year.................... $ 5.920 $ 5.191 $ 3.967 $ 4.730 $ 4.986 $ 4.371 ========== ========= ========== ========== ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value........ $ .73 $ 1.22 $ (.76) $ (.26) $ .61 .46 Ratio of operating expenses to average net assets**............................... 2.85% 2.85% 2.85% 2.85% 2.85% 2.85% Ratio of net investment income to (loss) average net assets......................... (1.73)% (1.65)% (1.70)% (1.53)% (1.06)% (1.49)% Number of units outstanding at end of year (thousands)........................ 17,503 12,822 21,164 19,061 13,923 15,180 Portfolio turnover rate...................... 91% 61% 116% 49% 106% 85% 1998 1997 1996 1995 ---------- --------- ---------- ---------- SELECTED PER UNIT DATA Total investment income...................... $ .056 $ .063 $ .041 $ .042 Operating expenses........................... .098 .085 .069 .057 ---------- --------- ---------- ---------- Net investment income (loss)................. (.042) (.022) (.028) (.015) Unit Value at beginning of year 3.389 2.623 2.253 1.706 Net realized and change in unrealized gains (losses)............................. .560 .788 .398 (.562) ---------- --------- ---------- ---------- Unit Value at end of year.................... $ 3.907 $ 3.389 $ 2.623 $ 2.253 ========== ========= ========== ========== SIGNIFICANT RATIOS AND ADDITIONAL DATA Net increase (decrease) in unit value........ $ .52 $ .77 $ .37 $ .55 Ratio of operating expenses to average net assets**............................... 2.85% 2.85% 2.84% 2.83% Ratio of net investment income to (loss) average net assets......................... (1.21)% (.76)% (1.13)% (.74)% Number of units outstanding at end of year (thousands)........................ 16,452 25,865 30,167 45,575 Portfolio turnover rate...................... 113% 92% 98% 113%
-------------- * Prior to May 3, 2004, the account was known as The Travelers Timed Aggressive Stock Account for Variable Annuities. ** Annualized. 7 THOMAS S. CLARK Counsel Law and Regulatory Affairs Telephone: (860) 308-5811 Fax: (860) 308-3923 May 3, 2005 Securities and Exchange Commission 450 Fifth Street, NW. Washington, D.C. 20549 Attention: Filing Desk Re:
REGISTRANT REGISTRATION 1940 ACT NO. ---------- ------------ ------------ The Travelers Fund U for Variable Annuities 2-79529 811-03575 The Travelers Growth and Income Stock Account for Variable 2-27330 811-01539 Annuities The Travelers Quality Bond Account for Variable Annuities 2-53757 811-02571 The Travelers Money Market Account for Variable Annuities 2-76358 811-03409 Tactical Growth and Income Stock Account for Variable 33-13052 811-05090 Annuities Tactical Short-Term Bond Account for Variable Annuities 33-13051 811-05089 Tactical Aggressive Stock Account for Variable Annuities 33-13053 811-05091
Members of the Commission: Pursuant to Rule 497(e) under the Securities Act of 1933, we hereby transmit for filing a Supplement Dated May 3, 2005 to the Prospectus Dated May 2, 2005 in connection with the above-captioned Registration Statements on Form N-4 and N-3. You may direct any questions regarding this filing to the undersigned at (860) 308-5811. Very truly yours, /s/ Thomas S. Clark ------------------- Thomas S. Clark