<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>c37287_497.txt
<TEXT>
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
<PAGE>
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.
<TABLE>
<CAPTION>
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
----------------------------------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- ---------- ---------- ----------
<S> <C> <C> <C>
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%
</TABLE>
<TABLE>
<CAPTION>
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
--------------------------------------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
CONTRACTS ISSUED PRIOR TO MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- ---------- ---------- ----------
<S> <C> <C> <C>
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%
</TABLE>
2
<PAGE>
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.
<TABLE>
<CAPTION>
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
--------------------------------------------- --------- --------- ---------- ---------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- --------- ---------- ----------
<S> <C> <C> <C>
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%
</TABLE>
<TABLE>
<CAPTION>
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
----------------------------------------- --------- --------- ---------- ---------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
CONTRACTS ISSUED PRIOR TO MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- --------- ---------- ----------
<S> <C> <C> <C>
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
</TABLE>
3
<PAGE>
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.
<TABLE>
<CAPTION>
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
--------------------------------------------- ---------- ---------- ---------- --------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
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
<CAPTION>
CONTRACTS ISSUED ON OR AFTER MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- ---------- ---------- ----------
<S> <C> <C> <C>
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
</TABLE>
<TABLE>
<CAPTION>
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
--------------------------------------------- ---------- ---------- --------- --------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
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
<CAPTION>
CONTRACTS ISSUED PRIOR TO MAY 16, 1983
(TOTAL M&E AND RIDER CHARGES 1.00%, 3.5% AIR) 1997 1996 1995
--------------------------------------------- ---------- ---------- ----------
<S> <C> <C> <C>
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
</TABLE>
--------------
* Annualized.
4
<PAGE>
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.
<TABLE>
<CAPTION>
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR)
2004 2003 2002 2001 2000 1999 1998
--------- --------- --------- --------- --------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
1997 1996 1995
--------- --------- ---------
<S> <C> <C> <C>
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%
</TABLE>
--------------
* Prior to May 3, 2004, the Account was known as The Travelers Timed Growth
and Income Account for Variable Annuities.
** Annualized
5
<PAGE>
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.
<TABLE>
<CAPTION>
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR)
2004 2003 2002 2001 2000 1999 1998
---------- --------- --------- --------- -------- ---------- ---------
SELECTED PER UNIT DATA
<S> <C> <C> <C> <C> <C> <C> <C>
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
<CAPTION>
1997 1996 1995
--------- --------- ---------
SELECTED PER UNIT DATA
<S> <C> <C> <C>
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 --
</TABLE>
--------------
* 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
<PAGE>
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.
<TABLE>
<CAPTION>
(TOTAL M&E AND RIDER CHARGES 1.25%, 3.5% AIR)
2004 2003 2002 2001 2000 1999
---------- --------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
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%
<CAPTION>
1998 1997 1996 1995
---------- --------- ---------- ----------
<S> <C> <C> <C> <C>
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%
</TABLE>
--------------
* Prior to May 3, 2004, the account was known as The Travelers Timed
Aggressive Stock Account for Variable Annuities.
** Annualized.
7
<PAGE>
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:
<TABLE>
<CAPTION>
REGISTRANT REGISTRATION 1940 ACT NO.
---------- ------------ ------------
<S> <C> <C>
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
</TABLE>
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
</TEXT>
</DOCUMENT>