<SEC-DOCUMENT>0000950123-11-047526.txt : 20111017
<SEC-HEADER>0000950123-11-047526.hdr.sgml : 20111017
<ACCEPTANCE-DATETIME>20110509171959
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-11-047526
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		18
FILED AS OF DATE:		20110509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHN HANCOCK LIFE INSURANCE CO USA
		CENTRAL INDEX KEY:			0001073894
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				010233346
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200 BLOOR STREET EAST
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5
		BUSINESS PHONE:		4169260100

	MAIL ADDRESS:	
		STREET 1:		200 BLOOR STREET EAST
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MANUFACTURERS LIFE INSURANCE CO USA
		DATE OF NAME CHANGE:	19981117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MANULIFE FINANCIAL CORP
		CENTRAL INDEX KEY:			0001086888
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200 BLOOR ST EAST
		STREET 2:		NORTH TOWER 11
		CITY:			TORONTO ONTARIO CANA
		STATE:			A6
		ZIP:			00000
		BUSINESS PHONE:		4169263500

	MAIL ADDRESS:	
		STREET 1:		200 BLOOR ST EAST
		STREET 2:		NORTH TOWER 11
		CITY:			TORONTO ONTARIO CANA
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>John Hancock Financial Services</B><BR>
U.S. Wealth Management Law Department<BR>
601 Congress Street<BR>
Boston, MA 02210-2805<BR>
(617)&nbsp;663-3192<BR>
Fax: (617)&nbsp;663-2197<BR>
E-Mail: <u>tloftus@jhancock.com</u>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><IMG src="b86174a2b8617400.gif" alt="(John Hancock Logo)"></TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">May 9, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>VIA E-MAIL and FEDERAL EXPRESS</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Alison T. White<BR>
Senior Counsel<BR>
Office of Insurance Products<BR>
U.S. Securities and Exchange Commission<BR>
100 F Street, NE<BR>
Washington, D.C. 20549-4644

</DIV>

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    <TD valign="top"><DIV style="margin-left:15px; text-indent:-0px">Re:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Manulife Financial Corporation/John Hancock Life Insurance Company (U.S.A.)<BR>
single payment modified guarantee deferred annuity contract with market value adjustment interests<BR>

Combined Registration Statement on Form&nbsp;F-3 (File Nos. 333-168694 and 333-168694-01)</TD>
</TR>
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</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Ms.&nbsp;White:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for your e-mail message of May 3, 2011. An EDGAR blackline
 comparison of the prospectus revisions, marked against the original filing of August 9, 2010, is attached as you requested.
The document includes several changes and updates. The changes are: </DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:22px; text-indent:-22px">a.        &nbsp;&nbsp;&nbsp;A revision to the definition of &#147;CPI MVA Separate Account.&#148; </DIV> </DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:22px; text-indent:-22px">b.        &nbsp;&nbsp;&nbsp;The insertion of brackets into the mathematical
equation appearing at &#147;III. Description of the
Contract &#150; Impact of Rate Cap on Indexed Crediting Rate&#148; and at &#147;Appendix A: How Interest is Credited &#150; Example B.&#148;
</DIV> </DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:22px; text-indent:-22px">c.        &nbsp;&nbsp;&nbsp;The performance figures for CPI and S&#38;P 500 Index Year over Year % Change in Appendix D were one year off from 1980 to current, which is now corrected. </DIV> </DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:22px; text-indent:-22px">d.        &nbsp;&nbsp;&nbsp;A red herring legend at the top of the first page. </DIV>
 </DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you have any questions or comments with respect to this letter, the Subordinated Guarantee or
the Registration Statement, please contact me at (617)&nbsp;663-3192 or, in my absence, please contact
Scott A. Lively, AVP and Chief Counsel, Fixed Products, at (617)&nbsp;663-2218. Thank you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sincerely,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">/s/ Thomas J. Loftus

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thomas J. Loftus<BR>
Senior Counsel &#151; Annuities

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">

 <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NOT FOR PUBLIC DISTRIBUTION &#150; FOR BROKER DEALER REVIEW ONLY<BR>
<BR>


THE FOLLOWING MATERIAL HAS BEEN FILED AS PART OF A REGISTRATION <BR>
STATEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION ON <BR>
AUGUST 9, 2010, BUT HAS NOT YET BECOME EFFECTIVE.  THIS INFORMATION <BR>
IS NOT COMPLETE AND MAY BE CHANGED.  THIS PRODUCT MAY NOT BE <BR>
SOLD UNTIL THE REGISTRATION IS EFFECTIVE AND THE PRODUCT IS <BR>
APPROVED IN THE APPLICABLE JURISDICTIONS.</B> </div>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">JOHN
HANCOCK LIFE INSURANCE COMPANY (U.S. A.)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Inflation Guard</U><BR>
^
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SINGLE PAYMENT MODIFIED GUARANTEE DEFERRED ANNUITY NON-PARTICIPATING<BR>
<BR style="font-size: 6pt">
CONTRACT VALUE INTERESTS<BR>
Guaranteed as described herein by
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">MANULIFE FINANCIAL CORPORATION
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This
prospectus describes <B><U>Inflation Guard</U>^,</B>
a single payment modified guarantee deferred annuity contract with market value adjustment
interests (&#147;<U>Market Value Adjustment&#146;&#146;)
(individually, a &#147;</U>Contract<U>&#148; and,^  collectively,
the &#147;Contracts&#146;&#148;). Inflation Guard</U>^ is
issued and offered by <B>John Hancock Life Insurance Company (U.S.A.) (&#147;John Hancock USA&#148;)</B> in all
jurisdictions except New York. Unless otherwise specified, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; or &#147;Company&#148; refers
to John Hancock USA. <U>This</U> ^ prospectus also
describes the subordinated guarantee by Manulife Financial Corporation (&#147;MFC&#148;) of obligations of
John Hancock USA under a Contract (the &#147;MFC Subordinated Guarantee&#148;). MFC is our parent company.
<U>Our wholly-owned subsidiary, John Hancock Distributors, LLC (&#147;JH Distributors&#148;), acts as
principal underwriter of the Contracts.</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The <U>Company offers</U>^ both
^ individual deferred annuity contract<u>s</u> and certificates issued under
a group deferred annuity contract. We use the term &#147;Contract&#148; to describe both an individual
contract and a certificate under a group contract that evidences a participating interest in the
group contract. <U>As used in this prospectus, &#147;you&#148; refers to the Owner of a Contract (the person
or entity entitled to ownership rights).</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract is designed to provide retirement income pursuant to either nonqualified retirement
plans or plans qualifying for special income tax treatment under the Internal Revenue Code of 1986,
as amended (the &#147;Code&#148;). <U>The Contract provides for the daily crediting of interest (subject to
Market Value Adjustment on early withdrawals and annuitization) on the amount we hold under the
Contract for you at any given time (the &#147;Account Value&#148;). The Company declares the interest rate it
will use throughout the ^ first year of each Term (a &#147;Term&#148; is a ^ period of time you select on the
application), and may declare different first year rates from time to time for new Terms, or Terms
of different durations (the &#147;Declared Interest Rate&#148;). For each remaining year in any Term, the
Company will determine a rate on specified anniversaries to be used during the current year based,
in part, on historical changes of the All Items Consumer Price Index for All Urban Consumers for
the U.S. City Average (&#147;CPI-U&#148;). We refer to this rate as the &#147;Indexed Crediting Rate.&#148; The U.S.
Department of Labor publishes the CPI-U monthly, but such monthly changes will not be reflected in
a current Indexed Crediting Rate.</U> ^
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You make a single <u>&#147;</u>Purchase Payment<u>&#148;</u> for the Contract <U>(an amount that you pay to us to
purchase a Contract)</U>.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#9702;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The minimum Purchase Payment <U>depends on the Term you select, but in no event
will be less than</U> ^ $25,000^.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#9702;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The maximum Purchase Payment (without our prior
approval) is $1,000,000.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You may not make additional Purchase Payments for a Contract, but
<U>you</U> may purchase additional Contracts at the then prevailing rates and
<U>Terms</U>^ .</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You designate the Term to which we allocate your Purchase Payment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>R</U>egardless of the annual changes in the CPI-U, the Indexed
Crediting Rate will never <U>fall below 0% (the &#147;</U> ^  Floor
Rate<U>&#148;)</U>  ^ nor <U>be </U> greater than a Rate Cap<U>. The Rate Cap will
be set no lower than 5%.</U> </TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>^</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You select <U>a method</U> ^ under your Contract <U>for receiving payments
upon annuitization (an &#147;Annuity Option&#148;)</U> or an alternate form of settlement
acceptable to us.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Please read this prospectus carefully and keep it for future reference. It contains information
about the Contract and the MFC Subordinated Guarantee that a prospective purchaser should know
before investing.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>There are risks
associated with the </B><B><U>purchase of a</U> Contract. </B>These risks include liquidity
risks, risk that the Index<U>ed</U> Crediting Rate could be as low as the Floor Rate^, risk that
the CPI-U and the way the CPI-U is calculated may change, risk that the change in
<U>CPI</U>^ = U may not be the same rate of inflation that individual
consumers may experience,  ^ <B>risk that inflation and the change in CPI-U may exceed the contract
^ Rate Cap</B>^, risk that we may substitute the CPI-U with another index, and Company and guarantor
solvency risks. <U>Withdrawal</U> ^
charges and ^
Market Value <U>Adjustments</U> ^ may apply for <U>as long
as you own the Contract because we assess</U> a <U>withdrawal charge and impose Market
Value Adjustments if <FONT style="FONT-variant: SMALL-CAPS">you </FONT>make a withdrawal from the Contract before the end of <I>any</I></U>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U> Term
then in effect.</U> ^ <b>Because of the Market Value
Adjustment provision of the Contract, you bear the investment risk that the Guaranteed Margins
offered by us at the time of withdrawal or at <U>annuitization</U>^ may be higher than the Guaranteed Margins applied to the Contract
with the result that the amount you receive upon withdrawal or annuitization may be reduced by the
Market Value Adjustment and may be less than your original investment
in the Contract. See <U>&#147;II.
Overview &#150; Are there any risks in purchasing this
Contract?&#148; and &#147;IV.</U></B>^ <B>Charges<U>, Deductions and Adjustments &#150;
Adjustments and Charges upon</U>^ Withdrawals.</B><U>&#148;</U>^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved
or disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense.</b>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>These securities are not deposits with, or obligations of, or guaranteed or endorsed by, any bank
or any affiliate thereof, and are not insured by the Federal Deposit Insurance Corporation, the
Federal Reserve Board or any other government agency.</b>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>The MFC Subordinated Guarantee does not relieve the Company of any obligations under its Contracts.
Therefore, the MFC Subordinated Guarantee is in addition to all of the rights and benefits that the
Contracts otherwise provide.</b>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Your ability to enforce civil liabilities related to the MFC Subordinated Guarantee under U.S.
securities laws may be affected adversely by the fact that MFC is organized under the laws of
Canada, most of its officers and directors and some of the experts named in this prospectus are
residents of Canada, and a substantial portion of MFC&#146;s assets are located outside the United
States.</U></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>You should be aware that owning these securities may have tax consequences both in the United
States and Canada. This prospectus and any applicable prospectus supplement may not describe these
tax consequences fully. You should read the tax discussion contained in this prospectus and in any
applicable prospectus supplement.</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>^ You should rely on the information contained in or incorporated by reference in this prospectus or
any applicable prospectus supplement and on the other information included in the registration
statement of which this prospectus forms a part. We have not authorized anyone to provide you with
different or additional information. We are not making an offer of the securities covered by this
prospectus in any jurisdiction where the offer is not permitted by
law. </b> ^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>There is no market through which these securities may be sold and purchasers may not be able to
resell securities purchased under this prospectus.</b>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.)</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Annuities Service Center</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Mailing Address</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">164 Corporate Drive
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Post Office Box 9505</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Portsmouth, NH 03801-6815
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Portsmouth, NH 03802-9505</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(617) 663-3000 or
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">www.jhannuities.com</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(800)344-1029</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>(The
information contained in, or accessible through, John Hancock USA&#146;s website<BR>
is not incorporated by reference into this prospectus.)</U>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>2011</U>
</DIV>


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</DIV>



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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Table <U>of</U>^ Contents
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174101"><B>ABOUT THIS PROSPECTUS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>1</B></U>&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174102"><B>I. GLOSSARY </B><U><B>OF</B></U>^<B> SPECIAL TERMS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>2</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174103"><B>II. OVERVIEW</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>5</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174104"><B>ARE THERE ANY RISKS IN PURCHASING THIS
CONTRACT?</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>10</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174105"><B>III.
DESCRIPTION </B><U><B>OF THE</B></U>^ <b>CONTRACT</b></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>12</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174106"><B>ELIGIBLE
GROUPS FOR^ GROUP ANNUITY
CONTRACT</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B><U><B>2</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174107"><B>ACCUMULATION PROVISIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1<B>2</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174108">Purchase Payment</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>12</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174109"><U>Cancellation</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>13</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174110"><U>How
Interest is Credited</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>13</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174111"><U>Withdrawals</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>14</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174112"><U>Special
Withdrawal Services &#150; The Systematic Withdrawal Program</U></A> ^
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>15</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174113"><U>Telephone and Electronic Transactions</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>16</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174114"><U>Death Benefit Before Maturity Date</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>16</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174115"><B>ANNUITY </B><U><B>PROVISIONS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>17</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174116"><U>General</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>17</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174117"><U>Annuity Options</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>17</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174118"><U>Death Benefit on or After Maturity Date</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>18</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174119"><U><B>OTHER CONTRACT PROVISIONS </B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>18</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174120"><U>Right to Review</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>18</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174121"><U>Ownership A</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>18</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174122"><U>Beneficiary</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>19</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174123"><U>Annuitant</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>19</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174124"><U>Spouse</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>19</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174125"><U>Modification</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>19</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174126"><U>Our
Approval </U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>20</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174127"><U>Discontinuance of New Owners</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>20</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174128"><U>Misstatement
and Proof of Age, Sex or Survival </U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>20</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174129"><U>Non-participating</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>20</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174130"><U><B>IV. CHARGES. DEDUCTIONS AND ADJUSTMENTS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>21</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174131"><U><B>FEE TABLE</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>21</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174132"><U><B>ADJUSTMENTS AND CHARGES UPON WITHDRAWALS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>2<B>1</B></U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174133"><U>Free</U>^ Withdrawal <U>Amount</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>22</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174134">^ Market Value Adjustment <U>Factor</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>22</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174135"><U>Withdrawal Charge</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>24</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174136"><U>Waiver of Applicable Withdrawal Charge and MVA
&#150; Confinement to Nursing Home</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>25</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174137"><U>Impact of Market Value Adjustment and Withdrawal Charge on Payable
Withdrawal Amounts and Account Value</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174138"><B><U>OTHER CHARGES AND DEDUCTIONS</U></B></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>2<B>6</B></U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174139"><U>Taxes</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174140"><U><B>V.</B> <B>GENERAL INFORMATION ABOUT US</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>28</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174141"><U><B>THE COMPANY </B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>28</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174140"><U><B>CPI MVA SEPARATE ACCOUNT</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>28</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174141"><U><B>DISTRIBUTION OF THE CONTRACT</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>29</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174142">
<U><B>VI.</B></U> <U><B>THE</B></U>^<B> MFC SUBORDINATED GUARANTEE</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>30</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174143"><U><B>DESCRIPTION OF MANULIFE FINANCIAL CORPORATION</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>30</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174144"><B>
<U>DESCRIPTION OF THE MFC SUBORDINATED GUARANTEE</U></B></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>30</B></U> <B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174145"><U>What additional guarantee applies to my Contract?</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174146"><U>What are the reasons for the additional MFC Subordinated Guarantee?</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174147"><U>What are the terms of the MFC Subordinated Guarantee?</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174148"><U><B>WHERE YOU CAN FIND MORE INFORMATION</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>32</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174149"><U><B>ENFORCEMENT OF JUDGMENTS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>33</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174150"><U><B>VII.</B></U> <U><B>FEDERAL TAX MATTERS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>35</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174151"><U><B>INTRODUCTION</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>35</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174152"><U>Our Tax Status</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>35</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174153"><U>Taxation of Annuities in General</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>35</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174154"><U><B>QUALIFIED RETIREMENT PLANS </B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>38</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174155"><U>In General</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>38</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174156"><U><B>QUALIFIED PLAN TYPES</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>39</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174157"><U>Direct Rollover Rules</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>40</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:45px; text-indent:-15px"><A href="#B86174158"><U>Federal Income Tax Withholding</U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>41</U>^</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174159"><U><B>VIII. GENERAL MATTERS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174160"><U><B>CONFIRMATION STATEMENTS </B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174161"><U><B>LEGAL PROCEEDINGS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174162"><U><B>LEGAL OPINIONS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174163"><U><B>EXPERTS A</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174164"><U><B>NOTICES AND REPORTS TO CONTRACT OWNERS</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:30px; text-indent:-15px"><A href="#B86174165"><U><B>CONTRACT OWNER INQUIRIES</B></U></A> ^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>42</B></U><B>^</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174166"><U><B>APPENDIX A: HOW INTEREST IS CREDITED</B></U></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>1</B></U></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174167"><U><B>APPENDIX B: EXAMPLES OF MARKET VALUE ADJUSTMENT CALCULATIONS</B></U></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>1</B></U></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:0px; text-indent:-0px"><A href="#B86174168"><U><B>APPENDIX C: WITHDRAWAL CHARGE</B></U>
<BR> <U><B>SCHEDULE</B></U></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>1</B></U></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174169"><U><B>APPENDIX D: HISTORICAL RATES FOR CPI AND S&#038;P</B></U></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B>1</B></U></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV STYLE="margin-left:15px; text-indent:-15px"><A href="#B86174170"><U><B>APPENDIX E: STATE PREMIUM TAXES</B></U></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><U>1</U></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>MVA</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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</DIV>



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<DIV align="left">
<A name="B86174101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">About This Prospectus
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This prospectus describes both individual deferred annuity contracts and
^ group deferred annuity contracts. <U>For a
group contract, the document we issue to each Owner, which summarizes the Owner&#146;s rights and
benefits under the group contract, is called a &#147;Certificate.&#148;</U> We use the term &#147;Contract&#148; to
describe both an individual contract and a Certificate under a group contract that evidences a
participating interest in that group contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this prospectus, unless otherwise specified or the context otherwise requires, references to
&#147;MFC&#148; refer to Manulife Financial Corporation. Unless otherwise specified, all dollar amounts
contained in this prospectus are expressed in U.S. dollars, ^
references to &#147;dollars&#148; or &#147;$&#148; are to U.S. dollars and all references to &#147;Cdn$&#148; are to Canadian
dollars. Unless otherwise specified, MFC financial information included and incorporated by
reference in this prospectus is prepared using generally accepted accounting principles in Canada,
which we refer to as &#147;Canadian GAAP.&#148; <U>International Financial Reporting Standards (&#147;IFRS&#148;)
replaced prior Canadian generally accepted accounting principles effective January&nbsp;1, 2011.
Accordingly, Canadian GAAP refers to prior Canadian generally accepted accounting principles for
2010 and earlier and IFRS for 2011 and beyond.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Inflation Guard is issued and offered by John Hancock USA (the &#147;Company&#148;) in all jurisdictions
except New York. MFC is John Hancock USA&#146;s parent company.</U> The Company filed this prospectus as
part of a joint registration statement with MFC relating to the Contracts that <U>the
Company</U>^ issues and <U>the MFC Subordinated
Guarantee</U>^. This
prospectus, together with the documents incorporated by reference herein, describes information
about both the Contracts and the <U>MFC Subordinated Guarantee</U>^.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Before you invest, you should read this prospectus together with the additional information
described under the heading &#147;Where You Can Find More Information.&#148; This prospectus does not contain
all of the information contained in the registration statements, certain
<U>items</U>^ of which are <U>contained in other parts of and in
exhibits to the registration statements</U>^ . You should refer to the registration statements and the
exhibits to the registration statements for further information with respect to us<U>,</U>^ the Contracts <U>and the MFC Subordinated Guarantee</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC prepares its consolidated financial statements in accordance with Canadian GAAP <U>(for 2010
and earlier years) and IFRS (for 2011 and all later years)</U>, which differs from generally
accepted accounting principles in the United States, which we refer to as &#147;U.S. GAAP.&#148; Although MFC
reconciles its consolidated financial statements to U.S. GAAP to the extent required by applicable
SEC rules and guidelines, MFC&#146;s consolidated financial statements incorporated by reference in this
prospectus and in the documents incorporated by reference in this prospectus may not be comparable
to financial statements prepared in accordance with U.S. GAAP. You should refer to note <U>22 to
MFC&#146;s annual audited consolidated financial statements as at and for the year ended December&nbsp;31,
2010 on Form 40-F filed on March&nbsp;18, 2011, and to note</U> 21 to MFC&#146;s annual audited consolidated
financial statements as at and for the year ended December&nbsp;31, 2009 on Form 40-F filed on March&nbsp;19,
2010^, ^ for a discussion of the principal differences between
MFC&#146;s financial results calculated under Canadian GAAP <U>and IFRS</U> and under U.S. GAAP. MFC&#146;s
financial statements include a footnote containing condensed consolidating financial information
with separate columns for MFC, John Hancock USA and other subsidiaries of MFC, together with
consolidating adjustments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock USA has been a subsidiary of MFC for financial reporting purposes since September,
1999 and, as a consequence, John Hancock USA has been, and will continue to be, included in the
consolidated financial statements of MFC in reports filed by MFC
with the SEC since that date.
</DIV>






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<DIV align="left">
<A name="B86174102"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">I.
Glossary <U>of</U>^ Special Terms
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Account Value: </B>The amount we hold under the Contract for you at any given time. On the
Contract Date, the Account Value is equal to the Purchase Payment^ .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuitant: </B>Any individual person or persons whose life is used to determine the duration of
Annuity Payments involving life contingencies. The Annuitant is as designated on the
specifications page of the Contract, unless <U>you change
it</U>^ prior to the Maturity Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity Option: </B>The method selected by you <U>from the available options</U> for Annuity Payments
<U>paid</U>^ by us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity
Payment(s): </B><U>Periodic payment</U>^ (s)&nbsp;by us to you or
your Payee, which generally commence on or after the Maturity Date and are in accordance with the
Annuity Option elected under the terms of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuities Service Center: </B>Any office designated by us for the receipt of Payment and processing of
Owner requests.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Beneficiary: </B>The person, persons or entity to whom
<U>specified</U>^ benefits are payable following the death
of an Owner, or if the Owner is a non-natural person, following the death of an Annuitant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Certificate:
</B>For a group contract, the <U>document</U>^ we
issued to each Owner which summarize<U>s</U> the Owner&#146;s rights and benefits under the
<U>group</U> contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contingent Beneficiary: </B>The person, persons or entity who becomes the Beneficiary if the
<U>Primary</U> Beneficiary is not alive when a benefit is due and payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract: </B>For an individual contract, the individual annuity Contract. For a group contract, the
Certificate evidencing a participating interest in the group annuity
<U>contract</U>^. Any reference in this prospectus to
&#147;Contract&#148; shall, in the case of a group contract, refer to the Certificates unless the context
otherwise requires the underlying group annuity contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Anniversary: </B>For an individual Contract, the anniversary of the Contract <U>which
is</U>^ twelve consecutive months from the Contract Date and
each year thereafter. For a Contract issued under a group contract in the form of a Certificate,
the anniversary of the date we issued the Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Date: </B>In the case of an individual Contract, the date we issue the Contract as designated
on the Contract specifications page. In the case of a Contract issued under a group contract in the
form of a Certificate, the effective date of participation under the group contract as designated
<U>on</U> ^ the <U>initial</U> Certificate specifications page.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Value Interests: </B>Amounts guaranteed by MFC, as described in &#147;<U>VI.</U> Description of
MFC Subordinated Guarantee<U>.&#148;</U>^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Year: </B>The period of time measured twelve consecutive months from the Contract
Date, or any Contract Anniversary thereafter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Code: </B>The <U>U.S.</U> Internal Revenue Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CPI</B><U> <B>MVA Separate Account: </B>A non-registered separate account that we established within the
General Account and in which we hold reserves for our guarantees under the Contract. Our other
General Account assets are also available to meet the guarantees under the Contract and our other
general obligations. The assets of the CPI MVA ^ Separate Account are subject to the liabilities that
arise out of the other business that we conduct. Your Contract
may refer to the separate account either as the CPI MVA Separate
Account or as the MVA Separate Account.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>CPI</B></U><B>-U:<U> </U> ^ </B>The All Items Consumer Price Index for All Urban Consumers for the U.S. City Average
published monthly by the Department of Labor. It reflects spending patterns of almost all residents
of urban or metropolitan areas. If this index is discontinued or if the calculation is changed
substantially the Company may substitute a comparable index.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Due Proof of Death: </B>We require Due Proof of Death upon the death of the Owner or Annuitant, as
applicable. <U>Any</U>^ one of the following
<U>constitutes Due Proof of Death when received</U> at our Annuities Service Center:
</DIV>

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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of a death certificate;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of a decree of a court of competent jurisdiction as to the finding of
death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other proof satisfactory to us.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Declared Interest Rate:</B> The interest credited on any given day at a rate that, if compounded daily
for one year, would equal the rate we declare for the first year of any selected Term under the
terms of the Contract, as shown on the specifications page of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Fixed Annuity: </B>An Annuity Option with <U>periodic </U>payments which are predetermined and
guaranteed as to dollar amount.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Floor Rate:</B> ^ The minimum rate of interest the Company will credit to the Contract regardless of the
year-over-year movement in the CPI-U. The Floor Rate applicable to you appears on the first page of
this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Free Withdrawal Amount: </B>An amount that may be withdrawn from the Account Value without being
subject to withdrawal charges or a Market Value Adjustment. See &#147;IV. Charges, Deductions and
Adjustments &#151; Free Withdrawal Amount.&#148;</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>General Account: </B>All of the Company&#146;s assets other than the assets in segregated asset accounts
which are maintained as &#147;insulated&#148; separate accounts under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Gross Withdrawal Amount: </B>The amount deducted from the Account Value for a full or partial
withdrawal. For a full withdrawal, such
amount is the Account Value. For a partial withdrawal, it is the amount you request plus any
applicable withdrawal charge, adjusted by
any applicable Market Value Adjustment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Group Holder: </B>In the case of a group annuity contract, the person, persons or entity to whom we
issue the group contract.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Guaranteed Margin: </B>A rate that is used to determine the Indexed Crediting Rate and the Market
Value Adjustment factor. The Guaranteed Margin remains constant for the Term. This rate will be
shown on the specifications page of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Index: </B>The price index used for determining the Indexed Crediting Rate, which is currently the All
Items Consumer Price Index for All Urban Consumers (&#147;CPI-U&#148;) for the U.S. City Average. This Index
is published monthly and reflects spending patterns of almost all residents of urban or
metropolitan areas. We may substitute a comparable index, subject to approval by the Interstate
Insurance Product Regulation&nbsp;Commission, if the CPI-U is discontinued or if its calculation is
changed substantially.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indexed Crediting Rate: </B>The crediting rate that is based on annual changes in the CPI-U, adjusted
by the Guaranteed Margin. This rate will never be less than the Floor Rate
^ or greater than the Rate Cap ^. See
Appendix&nbsp;A<U>: &#147;How Interest is Credited.&#148;</U>^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Initial Term: </B>The period of time that you select on the application form, beginning on the Contract
Date. The Initial Term continues for the period shown on the specifications page of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Market Value Adjustment: </B>An adjustment we make to amounts <U>(other than Free Withdrawal
Amounts) </U>that are withdrawn or annuitized on any date other than during the period 30&nbsp;days
after the expiration of the Term. <U>The Market Value Adjustment </U>^ may increase or decrease the amount available for withdrawal or
annuitization.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Maturity
Date: </B>The date on which <U>Annuity Payments</U>^ are scheduled to commence. It is the date specified on the
Contract specifications page, unless <U>you change it</U>^.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Nonqualified Contracts: </B>Contracts which are not issued under Qualified Plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Owner or Contract Owner: </B>In the case of an individual Contract, the person, persons or entity
entitled to the ownership rights under the Contract. In the case of a Contract issued under a group
contract in the form of a Certificate, the person, persons or entity named in the
Certificate who is entitled to all of the ownership rights under the group contract not expressly
reserved to the group contract holder. The Owner is as designated on the Contract, unless <U>you
change it</U>^.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Payee:
</B><U>The person,</U> ^ person(s) or entity <U>you
designate </U>to whom Annuity Payments are to be made.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Payment
or Purchase Payment: </B>An amount <U>you pay</U>^ to us <U>that we accept</U> as
<U>consideration</U>^ for the benefits provided by the
Contract^<U>.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Qualified Contracts: </B>Contracts issued under Qualified Plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Qualified Plans: </B>Retirement plans which receive favorable tax treatment under Section<U>s</U> 401,
403, 408, 408A or 457 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>^ Rate Cap: </B>The maximum <U>Indexed Crediting Rate</U>
^  the Company will credit to the Contract regardless of
the year-over-year movement in the CPI-U.^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Subsequent Term: </B>A period of time beginning on the day following expiry of the immediately
preceding Term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Term: </B>The Initial Term or a Subsequent Term.
</DIV>



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<DIV align="left">
<A name="B86174103"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">II. Overview
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This overview tells you some key points you should know about the Contract. Because this is an
overview, it does not contain all the information that may be important to you. You should read
carefully this entire prospectus, including its Appendices,<u>&nbsp;&nbsp;</u>^ for more detailed information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Insurance laws and regulations apply to us in every state in which our contracts are sold. As a
result, a Contract purchased in one state may have terms and conditions that vary from the terms
and conditions of a Contract purchased in a different jurisdiction. We disclose all material
features and benefits of the Contracts in this

<u>prospectus</u>^.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What kind of Contract is described in this Prospectus?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract is a single payment modified guarantee deferred annuity contract <U>subject to
a</U>^ market value adjustment <U>on early
withdrawals</U>^ . It provides for the accumulation of the
Account Value and the payment of annuity benefits on a fixed basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the Contract, you make a Purchase Payment to us, you select a Term, and we credit interest
for the Term. <U>The Term you select at Contract issue is your &#147;Initial Term;&#148; any Term you
select thereafter is a &#147;Subsequent Term.&#148;</U> At the end of
<U><I>any</I></U>^ Term, you can choose:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to start a Subsequent Term (up to a maximum
<U>&#147;</U>Maturity Date<U>&#148; &#150;
the date on which annuity benefits are scheduled to commence</U>),</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to start &#147;Annuity Payments<u>&#148;  under an Annuity Option
(see &#147;III. Description of the Contract &#150; Annuity
Options&#148;),</u> or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to receive your Account Value.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>We issue your Contract on the &#147;Contract Date,&#148; and the period of time measured twelve
consecutive months from the Contract Date is a &#147;Contract Year.&#148; The first day of any Contract Year
is the &#147;Contract Anniversary.&#148;</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>EXAMPLE: Assume you are 55 when you purchase the Contract, you do not take withdrawals, and we
make 5-Year and 6-Year Terms available until you are 70:</U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B><FONT face="Wingdings">&#224;</FONT></B> <I>Age 55 &#150; You purchase a Contract and elect an Initial 5-Year Term. We credit interest
during the first Contract Year of the Term at the then current Declared Interest Rate. We credit
interest during the second Contract Year at the Indexed Crediting Rate that we calculate on the
first Contract Anniversary. We credit interest during each remaining Contract Year in the
Initial Term at the then current Indexed Crediting Rate we calculate on each Contract
Anniversary until the end of the Initial Term.</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B><FONT face="Wingdings">&#224;</FONT></B> <I>Age 60 &#150; You renew for a Subsequent 6-Year Term. We credit interest during the first
Contract Year of the Term at the then current Declared Interest Rate. We credit interest during
each remaining Contract Year in this Subsequent Term at the then current Indexed Crediting Rate
we calculate on each Contract Anniversary until the end of this Subsequent Term.</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B><FONT face="Wingdings">&#224;</FONT></B> <I>Age 66 &#150; You renew for a Subsequent 5-Year Term. We credit interest during the first
Contract Year of the Term at the then current Declared Interest Rate. We credit interest during
each remaining Contract Year in this Subsequent Term at the then current Indexed Crediting Rate
we calculate on each Contract Anniversary until the end of this Subsequent Term.</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B><FONT face="Wingdings">&#224;</FONT></B> <I>Age 71 &#150; You elect to begin Annuity Payments.</I></U>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>We may assess a withdrawal charge and make a Market Value Adjustment to your Account
Value if you elect to start Annuity Payments or receive your Account Value outside of a
30-day period at the end of a Term, which is the first 30&nbsp;days of the next Subsequent Term
(please see &#147;IV. Charges, Deductions and Adjustments &#150; Adjustments and Charges upon
Withdrawal&#148;).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>This prospectus describes both individual deferred annuity Contracts and participating
interests in group deferred annuity Contracts. For information on eligible groups, see &#147;III.
Description of the Contract &#150; Eligible Groups For Group Annuity Contract.&#148;</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Participation in a group Contract will be separately accounted for by the
issuance of a Certificate evidencing the Owner&#146;s interest under the Contract.</U></TD>
</TR>

</TABLE>
</DIV>


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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">^&nbsp;</TD>
    <TD>Ownership of an individual Contract will be evidenced by the issuance
of an individual annuity Contract.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this prospectus, we refer to both the Certificate and the individual annuity Contract as the
&#147;Contract.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Retirement Plans. </B>We may issue the Contract pursuant to either nonqualified retirement plans or
plans qualifying for special income tax treatment
under the Code <U>(&#147;</U>^ Qualified <U>Plans&#148;). Qualified
Plans </U>^ include individual retirement accounts <U>(&#147;IRAs&#148;)&nbsp;</U>and
annuities (including Roth IRAs), pension and profit-sharing plans for corporations and sole
proprietorships/partnerships (&#147;H.R. 10&#148; and &#147;Keogh&#148; plans), tax-sheltered annuities, and state and
local government deferred compensation plans^ . If you are considering purchasing a Contract for use
in connection with a <U>Qualified Plan (a &#147;Qualified
Contract&#148;)</U>^ , you should consider, in evaluating the suitability
of the Contract, that<u>:</u>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the Contract</U>^ allows only a single Purchase
Payment in a minimum amount stated on the first page of this prospectus. (See &#147;Tax
Deferral&#148; below.)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>we will not separately account for any part of the
Purchase, Payment Account Value
or an Annuity Payment as attributable to both a Roth account and a
non-Roth account, <I>even if
permitted in your Qualified Plan.</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>any transfer of Account Value from a Contract used to fund a non-Roth account to a
Roth account permitted in your Qualified Plan (or from a Contract used to fund a Roth
account to a non-Roth account) may incur withdrawal charges and be subject to a Market
Value Adjustment.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Please
see &#147;VII. Federal Tax Matters &#150; Qualified Retirement Plans&#148; for additional information
about Qualified Plans.</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>How can I invest money in the Contract?</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We use the term Purchase Payment to refer to the investment you make in the Contract. You make your
Purchase Payment to us at our <U>office designated for the receipt of Payment and processing of
Owner requests (&#147;</U>Annuities Service Center<U>&#148;)</U>. The minimum and maximum Purchase Payments
are stated on the first page of this prospectus. We allocate your
Purchase Payment to the Term ^ ,
which you designate.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While we will not accept additional Purchase Payments for a Contract, you may purchase additional
Contracts at the then prevailing rates and terms.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the Maturity Date and at our option, we
may cancel a Contract if the Account Value is less than $5,000. This cancellation privilege may
vary in certain states to comply with the requirements of their insurance laws and regulations (see
&#147;<U>III. Description of the Contract &#150;</U> Purchase Payment&#148;). If we cancel your Contract, we
will not apply a Market Value Adjustment factor or withdrawal charges (see &#147;IV. Charges, Deductions
and Adjustments&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>How
does my Account Value grow</B></U>^ ?
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Terms</B></U>^ .When you purchase a Contract, you must
elect <U>a single Initial Term. At the end of an</U>^ Initial Term,<U> you may elect a single Subsequent Term from among those we
make available at that time</U>. We may offer up to ten different
Terms under the Contract<u>&#150;</u>^ one year through ten years
<U>&#150;</U> ^ for you to choose, but we may not make all of these Terms
available at all times or through all authorized distributors of the Contracts. <U>We may
establish different minimum Purchase Payments for different Terms and may change the minimum
Purchase Payment requirements from time to time.</U> ^ We
do not expect to offer Terms of over ten years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ <b>Crediting Rates</B><U><B>. </B>For the first year of any Term, we
will determine</U>
^ , <B>in our sole
discretion</B>, the interest <U>rate</U> ^ that we will credit for
the first year of any ^ Term <U>( the &#147;Declared Interest
Rate.&#148;)</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>For the
second and any subsequent year of any</U>^ Term<U>, we will apply
the &#147;Indexed Crediting</U>^ Rate<U>.&#148; The</U> ^ Indexed Crediting Rate <U>will be determined based on:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the annual <I>changes </I>in the All Items Consumer Price Index for All
Urban Consumers for the U.S. City Average (published monthly by the Department of Labor, the &#147;CPI-U&#148;) as
determined three months prior to the</U>^ Contract
Anniversary<u>;</u> <U>adjusted by</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>a rate that we will determine, <B>in our sole discretion</B>, for</U>^ the Indexed Crediting Rate
<U>and the Market Value Adjustment factor (the
&#147;</U>^ Guaranteed
Margin<U>&#148;).</U>^ The <U>Guaranteed Margin is guaranteed
by us for the duration of the Term and, under certain market conditions, <I>could be a
negative value</I>. (Please see &#147;IV. Charges, Deductions and
Adjustments &#150; Adjustments and
Charges upon Withdrawals,&#148; for a discussion of the impact of the Guaranteed Margin on
the Market Value Adjustment factor.)</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>As
illustrated by the example below, the </U> Indexed Crediting Rate may change annually based
on the CPI-U, but the Guaranteed Margin will remain constant through
out the Term.<u>&nbsp; The
Crediting Rate is subject to a Rate Cap set in this example to 8%, and to a Floor Rate of 0%</U>^ .
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Inflation Guard</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>Assume you have invested $100,000 and elected a 10 Year Term and your Declared Interest
Rate is 3.25%.</U>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><u>Account Value</u></B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><u>(at each</u></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><u>Change in</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><u>Guaranteed</u></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><u>Contract</u></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B><u>Year</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B><u>CPI-U</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B><u>Margin</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B><u>Crediting Rate</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><u>Anniversary)</u></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><B><u>Declared Interest Rate</u></B><br>
<u>(applicable to first year only)</u><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>1</u></B></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>N/A</u></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>N/A</u></TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>3.25</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>103,250</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>2</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>1.50</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>1.70</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>105,005</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>3</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap align="right" valign="top"><u>-0.10</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.10</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>105,110</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><B><u>Indexed Crediting Rate</u></B><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>4</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.50</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.70</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>105,846</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><u>(the percentage change in</u><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>5</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap align="right" valign="top"><u>-1.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.00</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>105,846</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><u>CPI-U plus the Guaranteed</u><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>6</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>2.30</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>2.50</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>108,492</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><u>Margin &#151; applicable to the</u><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>7</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>10.23</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>8.00</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>117,171</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><u>second and any subsequent</u><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>8</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>2.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>2.40</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>119,983</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px"><u>years)</u></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>9</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>7.95</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>8.00</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>129,582</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B><u>10</u></B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>2.80</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>0.20</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><u>3.00</u></TD>
    <TD nowrap valign="top"><u>%</u></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><u>$</u></TD>
    <TD align="right" valign="top"><u>133,470</u></TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>How
We Set the Declared Interest Rate and the Guaranteed Margin</B></U> <B>^ . </B>We
consider various factors in setting the Declared Interest Rate and the Guaranteed Margin, including
investment returns available at the time that we issue the Contract, sales commissions,
administrative expenses, regulatory and tax requirements, general economic trends, and competitive
factors. In addition, the Declared Interest Rate and the Guaranteed Margin may depend on the Term
<U>and Purchase Payment amount</U> that you choose. In general, a Term with a longer duration may
have a higher Declared Interest Rate and Guaranteed Margin.
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>The CPI-U percentages are only one part of the total crediting rate formula. We use the </B><B><I>prior</I></B>
<B>year&#146;s change in the CPI-U, as a percentage, to help calculate the interest we will credit to
your Account Value in the </B><B><I>current </I></B><B>year. The interest we will credit to your Account Value is
never &#147;linked&#148; so as to directly correspond with any </B><B><I>currently published </I></B><B>CPI-U percentage.</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Regardless of the annual changes in the CPI-U, the Indexed Crediting Rate will never be less
than a minimum floor amount of 0% (the &#147;Floor Rate&#148;). For more detailed information on how interest
is credited to your Contract, including the impact of Floor Rates and Rate Caps, see &#147;III.
Description of the Contract &#150; Accumulation Provisions &#150; Accumulation of Account Value,&#148; and
Appendix&nbsp;A: &#147;How Interest is Credited.&#148;</B></U>
</DIV>

</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>May I make withdrawals under the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Withdrawals. </B>Before the earlier of the Maturity Date or the death of a Contract Owner, you may
withdraw all or a portion of your Account Value.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You must withdraw an amount at least equal to $1,000, the minimum specified in the Contract.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a partial withdrawal (plus any applicable withdrawal charge and after giving
effect to any Market Value Adjustment) reduces the Account Value to less than $5,000,
the minimum specified in the Contract, we may treat the partial withdrawal as a total
withdrawal.</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>^What fees and charges do I pay under the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Withdrawal
Charges.</B><u> We will</u>^ assess a withdrawal charge (contingent
deferred sales charge) <U>and a Market Value Adjustment</U> against amounts withdrawn
<U>from the Contract prior to the Maturity Date. The withdrawal
charge</U>^ will never <U>exceed</U>^ 8% of your Account Value<U>. The withdrawal charge period will never
exceed the longest then-available Term. When you select your Term, you determine your
withdrawal charge period</U>^. There
is never a withdrawal charge with respect to certain <U>Free Withdrawal Amounts (see &#147;IV.
Charges, Deductions and Adjustments &#150; Free Withdrawal
Amount&#148;). A</U>^ withdrawal <U>may be subject to income tax and a 10% penalty tax (see &#147;VII.
Federal Tax Matters&#148; for a more detailed discussion).</U>^
The amount of the withdrawal charge and when it is assessed are discussed <U>in greater
detail in the &#147;Fee Table&#148; and &#147;Withdrawal Charge&#148;
sections </U>under &#147;IV. Charges, Deductions
and Adjustments<U>,&#148;</U>^ and <U>also in
</U>Appendix&nbsp;C<U>:</U> &#147;Withdrawal Charge Schedule.&#148;^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Market
Value Adjustment.</B> We will adjust any amount withdrawn or annuitized prior to the end of
either the Initial Term or a Subsequent Term by the Market Value Adjustment factor. The Market
Value Adjustment factor, when it is assessed, and when it will not apply are discussed under &#147;IV.
Charges, Deductions and Adjustments&#148; ^  and Appendix&nbsp;B<U>:</U> &#147;Example Of Market Value Adjustment
Calculation.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^<B>State Premium Taxes. </B>State premium taxes may also apply to your Contract, which currently range
from 0.50% to 3.50% of each Purchase Payment (see Appendix&nbsp;E<U>:</U> &#147;State Premium Taxes&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What are some benefits of the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Telephone and Electronic Transactions. </B>You may request withdrawals by telephone. We may also permit
you to access information through our website (see &#147;<U>III.
Description of the Contract &#150;</U>
Telephone And Electronic Transactions&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Death Benefits. </B>We will pay the death benefit to the <U>&#148;</U>Beneficiary<U>&#148;</U> if any Contract
Owner dies before the Maturity Date. The death benefit equals the Account Value. If there is a
surviving Contract Owner, that Contract Owner will be deemed to be the Beneficiary. No death
benefit is payable on the death of any <U>individual or persons whose life is used to determine
the duration of Annuity Payments, the &#147;</U>Annuitant,<U>&#148;</U> except that if any Contract Owner is
not a natural person, we will treat the death of any Annuitant as the death of an Owner.
 ^ We will determine the death benefit as of the date we receive written notice and proof of
death (<U>&#147;</U>Due Proof of Death<U>&#148;</U>) and all required claim forms at our Annuities
Service Center.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity
Payments. </B>We offer a variety of <U>&#147;</U>Fixed Annuities<U>,&#148; annuity options with
payments, which are predetermined and guaranteed as to dollar amount</U>. Periodic Annuity Payments
will begin on the Maturity Date. You select the Maturity Date, frequency of payment and Annuity
Option<U>. We may extend the Maturity Date in certain situations if you do not select a Subsequent
Term. See &#147;III. Description of the Contract &#150;</U>^ Annuity
Provisions<U>.&#148;</U>^
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Can I return my Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ Within 15&nbsp;days (or other time period as required by
applicable state insurance law) of your receipt of a Contract, you may cancel the Contract by
returning it to us or our agent (see &#147;<U>III. Description of the
Contract &#150; </U>Right To
Review&#148;). Within seven days after we receive the returned Contract, we will pay you an amount equal
to the Account Value, adjusted by any Market Value Adjustment, if applicable, computed on the day
the <U>Contract</U>^ is received by us. The Market Value
Adjustment will only be applied where the change<U>, up or down,</U>
in <U>the </U>Guaranteed
Margin <U>in effect when you purchase your Contract</U>^ is greater than 0.25%. If
the purchase of this Contract involves the replacement of any existing life insurance or annuity,
then the right to review is extended to thirty days. If the Contract is issued as an individual
retirement
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">annuity
under Section&nbsp;408 or Section&nbsp;408A of the Code^ , and you cancel during the first seven days of this right
to review period, then we will return <U>an amount equal to</U> the Payment made for the Contract
<U>(without the deduction of the Market Value Adjustment), if greater than the Account Value
adjusted as described above</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What are the tax consequences of purchasing the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax Deferral. </B>The status of the Contract as an annuity generally allows all earnings under the
Contract to be tax-deferred until withdrawn or until Annuity Payments begin (see &#147;VII. Federal Tax
Matters&#148; for ^ a more detailed discussion).
In most cases, no income tax will have to be paid on your earnings under the Contract until these
earnings are paid out. This tax-deferred treatment may be beneficial to you in building assets in a
long-term investment program. <B>When you purchase a Contract for any tax-qualified retirement plan,
including an IRA, the Contract does not provide any additional tax deferred treatment of earnings
beyond the treatment provided by the plan </B><U><B>for a non-Roth account</B></U><B>. Consequently, you should
purchase a Contract for an IRA </B><B><U>or other Qualified Plan</U> only on the basis of other benefits
offered by the Contract. These benefits may include lifetime income payments, protection through
death benefits, and guaranteed fees.</B>
</DIV>

<DIV align="left">
<A name="B86174104"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Are there any risks in purchasing this Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are various risks associated with an investment in the Contract that we summarize below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Company</B></U><B>^/Guarantor
 Risk. </B>Your Contract is issued by the
Company and thus is backed by the Company&#146;s financial strength. If the Company were to experience
significant financial adversity, it is possible that the Company&#146;s ability to pay interest and
principal under the Contract could be impaired. Contract Value Interests (as defined in
<U>&#147;VI.</U> ^ The <U>MFC </U> Subordinated
Guarantee<U>&#148;</U>^ ) are subject to a
subordinated guarantee by MFC. If MFC were to experience significant financial adversity, it is
possible that MFC&#146;s ability to carry out its obligations under the <U>MFC Subordinated
Guarantee</U>^ could be impaired.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Risks Related to the MFC Subordinated Guarantee. </B>Your ability to enforce civil liabilities
related to the MFC Subordinated Guarantee under U.S. federal securities laws may be affected
adversely by the fact that MFC is organized under the laws of Canada, most of its officers and
directors and some of the experts named in this prospectus are residents of Canada, and a
substantial portion of its and their assets are located outside the United States.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Market Value Adjustment Risk. </B>If you choose to withdraw your money or annuitize on any date other
than the period 30&nbsp;days after the expiration of the Term, and the Guaranteed Margin that we offer
on a Term equal to the number of months remaining on the Term for new Contracts
<U>has</U>^ risen above <U>the Guaranteed
Margin</U>^ level when you selected your Term, you will experience
a negative Market Value Adjustment. You do not participate directly in the investment experience of
the assets that the Company holds to support the Contract. Nonetheless, the Market Value Adjustment
formula (which is discussed below under the caption &#147;Market Value Adjustment&#148; and in Appendix&nbsp;B to
this prospectus) reflects the effect that prevailing Guaranteed Margins have on those assets. If
you need to withdraw your money during a period in which prevailing Guaranteed Margins have risen
above their level when you made your purchase, you will experience a &#147;negative&#148; Market Value
Adjustment. When we impose this Market Value Adjustment, it could result in the loss of both the
interest you have earned and a portion of your Purchase Payment. ^ <B>The Market Value Adjustment, alone
or in combination with the applicable withdrawal charges, could result in your total withdrawal
proceeds being less than your Purchase Payment. </B>^ Thus, before you commit to a particular Term, you
should consider carefully whether you have the ability to remain invested throughout the Term. In
addition, we cannot, of course, assure you that the Contract will perform better than another
investment that you might have made.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Risks Related to the Withdrawal Charge. </B>We may impose withdrawal charges that range as high as 8%.
If you anticipate needing to withdraw your money prior to the end of a Term, you should be prepared
to pay the withdrawal charge that we will impose.
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Because we assess a withdrawal charge
 if you take a withdrawal from the Contract before the end
of your elected Term, and because you may elect Subsequent Terms upon the expiration of any Term,
withdrawal charges will apply, according</B></U> <B>^ to the</B>
<U><B>schedules</b></U>^ <B>that </B><U><B>appear in &#147;IV. Charges,
Deductions</B></U>^ <B>and </B><U><B>Adjustments &#150; Fee
Table&#148;</B></U>^ <B>and </B><U><B>in Appendix&nbsp;C, for as long as you own your Contract. See &#147;IV.
Charges, Deductions and Adjustments &#150; Withdrawal Charge&#148; for more detailed
information</B></U>^ <B>.</B>
</DIV>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Index</B><U><B>ed</b></U> <b>Crediting Rate Will Be Based upon the Annual Percentage Change of the CPI-U,
combined with the declared</B>
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Guaranteed Margin for your current Term. The
Indexed Crediting Rate</B>
<U><B>could</B></U>^<b> be as low as the Floor Rate<U>&nbsp;</U></B> ^<b> and will never be greater than the Rate Cap </B><U><B>established for the
current Term</B></U>^ . Changes
in the CPI-U are a function of the changes in specified consumer prices over time, which result
from the interaction of many factors over which we have no control. If the CPI-U declines or does
not change, you bear the risk that you will only receive the Floor Rate of interest on your
Purchase Payment. <B>Under certain market conditions, the Guaranteed Margin may be a negative number.</B>
You also bear the risk that sustained declines in the CPI-U may result in only the Floor Rate being
credited to your Purchase Payment for a prolonged period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The CPI-U Itself and the Way the CPI-U is Calculated may Change in the Future</B><U><B>.</B></U> There can be
no assurance that the Bureau of Labor Statistics of the U.S. Department of Labor will not change
the method by which it calculates the CPI-U. In addition, changes in the way the CPI-U is
calculated could reduce the level of the CPI-U and lower the interest payment with respect to the
Indexed Crediting Rate. Accordingly, the amount of interest, if any, payable on the Contract, and
therefore the value of the Contract, may be significantly reduced. If the CPI-U is discontinued or
if its calculations are changed substantially, then we may substitute a comparable index (subject
to the approval of the Interstate Insurance Product Regulation&nbsp;Commission or your state insurance
department^ ).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Department of Labor&#146;s Bureau of Labor Statistics may revise and republish prior published CPI-U
historic rates. </B>^ We will not revise any Indexed Crediting Rate to reflect any such revisions made by
the Bureau of Labor Statistics.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ <B>Inflation and year</B><U><B>-</b></U><b> over</B><U><B>-</b></U><b> year CPI-U change may
exceed our </B><U><B>Rate Cap</B></U> ^<b> on the Indexed Crediting Rate.
There can be no assurance that inflationary changes in specified consumer prices in any particular
year will not be greater than the Rate Cap^ . In such event,
your Contract credited interest earnings will not keep pace with inflation.</B>
^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Historical Levels of the CPI-U are not an Indication of the Future Levels of the CPI</B><U><B>-U</B></U><B>.</B>
The historical levels of the CPI<U>-U</U>are not an indication of the future levels of the CPI-U
during the Term of your Contract. In the past, the CPI-U has experienced periods of volatility, and
such volatility will occur in the future. Fluctuations and trends in the CPI-U that have occurred
in the past are not necessarily indicative, however, of fluctuations that will occur in the future.
</DIV>


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<DIV align="left">
<A name="B86174105"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">III.
Description <U>of the </U>^ Contract
</DIV>

<DIV align="left">
<A name="B86174106"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Eligible Groups </B><U><B>for</B></U>^<b> Group Annuity Contract</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may issue the group deferred annuity contract to fund plans qualifying for special income tax
treatment under the Internal Revenue Code of 1986, as amended (the
&#147;Code&#148;). <U>&#147;</U>Qualified
Plans<U>&#148;</U> include individual retirement accounts and annuities, pension and profit-sharing
plans for corporations and sole proprietorships/partnerships (&#147;H.R. 10&#148; and &#147;Keogh&#148; plans),
tax-sheltered annuities, and state and local government deferred compensation plans. If you are
considering purchasing a Contract under a group contract for use in connection with a Qualified
Plan, you should consider, in evaluating the suitability of the Contract, that<U>:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the Contract</U>^ allows for only a single Purchase
Payment in an amount of at least the amount stated on the first page of this
prospectus<U>;</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>we will not separately account for any part of the Purchase Payment, Account Value
or an Annuity Payment as attributable to both a Roth account and a non-Roth account, <I>even
if permitted in your Qualified Plan</I>; and</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>any transfer of Account Value from a Contract used to fund a non-Roth account to a
Roth account permitted in your Qualified Plan (or from a Contract used to fund a Roth
account to a non-Roth account) may incur withdrawal charges and be subject to a Market
Value Adjustment.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Please </U>&nbsp;^ see &#147;<U>VII. Federal Tax Matters &#150;</U> Qualified
Retirement Plans<U>&#148; for additional information about Qualified Plans.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ The group deferred annuity contract is also designed for use with
nonqualified retirement plans and such other groups (customers of certain financial institutions,
trusteed or non-trusteed groups) as may be eligible under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An eligible member of a group to which a Contract has been issued may become an Owner under the
Contract by submitting a completed application, if required by us, and a minimum Purchase Payment.
We will issue a Certificate summarizing the rights and benefits of the Owner under the Contract to
an applicant acceptable to us. We reserve the right to decline to issue a Certificate to any person
in our sole discretion, which we will exercise in a non-discriminatory manner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All rights and privileges under the Contract may be exercised by each Owner as to such Owner&#146;s
interest unless expressly reserved to the <U>person, persons or entity to whom we issue a group
contract (the &#147;</U>Group Holder<U>&#148;)</U>. However, provisions of any plan in connection with
which we issue the Contract may restrict an Owner&#146;s ability to exercise such rights and
privileges.
</DIV>

<DIV align="left">
<A name="B86174107"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Accumulation Provisions</B>
</DIV>

<DIV align="left">
<A name="B86174108"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Purchase Payment</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You make your Purchase Payment to us at our Annuities Service Center. The minimum Purchase Payment
for a Contract <U>depends on the Term you select, but in no event will it be less than
$25,000.</U>^ The
maximum Purchase Payment which you may make without our prior approval is
<U>$1,000,000</U>^ . We
allocate the entire Purchase Payment to the Term which you select <U>(see &#147;Initial Term&#148; and
&#147;Subsequent Terms&#148; below)</U>. We will not accept additional Purchase Payments for a Contract. You
may, however, purchase additional Contracts at the then prevailing rates and terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>The Purchase Payment may consist of multiple components that we might receive on different
dates if</U>^ your purchase<U>:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is part of a tax-free exchange pursuant to ^
Section&nbsp;1035 <U>of the Code </U>(see &#147;VII. Federal Tax Matters
<U>&#150;</U>^ Exchanges of Annuity Contracts&#148; for a more
detailed discussion)<U>;</U> or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>is</U> a trustee-to-trustee transfer of Qualified Plan funds <U>from either a
non-Roth account or from a Roth account permitted under your plan, but not both. We will
not knowingly permit a Contract to be issued if you wish to transfer funds for both Roth
and non-Roth accounts permitted under your plan. (See &#147;III. Description
of</U>^ the <U>Contract &#150; Eligible Groups For Group Annuity
Contract.&#148;)</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>If your
Purchase Payment consists of multiple components</U>^ , your Term
<U>wi</U>^ ll commence on the date
the first Purchase Payment component is received <U>in good order</U> (within 60&nbsp;days of the
receipt of your application<U>). Any</U> ^
component ^ received within 60&nbsp;days of your
application ^ <U>wi</U>^ ll be applied
to the same Term as the first component and interest shall accrue as of the date of receipt of each
component. <U>We reserve the right to not issue a C^ ontract if the
sum total of the payment components received is less than the minimum Purchase Payment stated on
the first page of this prospectus.</U> In the event a subsequent Purchase
Payment component is not
received by us within 60&nbsp;days of the date of your application, we <U>may </U> ^ seek your instructions to <U>establish the Contract without the
missing Purchase Payment component or</U>^ return the subsequent
Purchase Payment component to you or, if the subsequent Purchase
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment component is at least the
amount stated on the first page of this prospectus, to establish a separate additional annuity
Contract. Some or all of the subsequent Purchase Payment component may be taxable if we return it
to you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Initial Term. </B>When you purchase a Contract, you elect your Initial Term.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Subsequent Terms. </B>At the end of your Initial Term you may elect a Subsequent Term. You will
have a period of 30&nbsp;days commencing with the expiration of a Term to elect in writing a Subsequent
Term from among those that are available. At least 15&nbsp;days, but not more than 45&nbsp;days prior to that
period, we will provide you with written notice of the expiry of the Term. If you do not elect a
Subsequent Term within the required period, we will select the next shortest Term available for
you. The effective date of the Subsequent Term will be the first day following the expiry of the
immediately preceding Term. Your Account Value will not be subject to any Market Value Adjustment
at the time it is applied to a Subsequent Term pursuant to this provision. Once the Subsequent Term
has been in effect for 30&nbsp;days, the Market Value Adjustment formula will be re-imposed for the
duration of that Subsequent Term (see &#147;IV. Charges, Deductions
and Adjustments &#150; Adjustments and
Charges upon Withdrawals&#148;).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>We may offer as many as ten Terms, ranging from one year through ten years, in connection
with the Contracts, but we may limit the number of Terms we make available at any time, or
through any authorized distributor of the Contracts. All Terms may not be available through
all authorized distributors of the Contracts. You will be required to select the shortest
available Term if all of the then-available Terms have expiration dates that would extend
beyond the maximum Maturity Date. In that event, we will extend the maximum Maturity Date to
coincide with the expiration date of the shortest available Term. For example, assume you are
age 91 when your current Term expires, the maximum Maturity Date at the time will occur when
you are age 95, and the shortest then-available Term is a 5-Year Term. If you choose to elect
a Subsequent Term, you must elect the 5-Year Term even though you will be 96, and past the
maximum Maturity Date when the 5-Year Term expires. Once you elect the 5-Year Term, we will
extend the maximum Maturity Date to occur when you are age 96. (See &#147;III. Description of the
Contract &#150; Annuity Provisions&#148; for more information about the Maturity Date.)</U>
</DIV>

<DIV align="left">
<A name="B86174109"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>Cancellation</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the Maturity Date, we may, at our option, cancel a Contract if the Account Value<U>, as a
result of any partial withdrawal,</U> is less than $5,000. If we cancel the Contract, we will pay
the amount that would be paid as a result of a total withdrawal^ . The amount paid may be treated as a withdrawal for federal tax purposes
and thus may be subject to income tax and to a 10% penalty tax. (See &#147;VII. Federal Tax Matters&#148; for
^ a more detailed discussion.)
</DIV>

<DIV align="left">
<A name="B86174110"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>How
Interest is Credited</i></U> <i>^</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ <B>Declared Interest Rate</B><U><B>. </B>During</U>
^ the first year of <U>any Term, we will declare and
apply the</U>^ Declared
Interest Rate <U>to your Account Value.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Indexed
Crediting Rate. </B>At each</U> ^ Contract Anniversary, we will determine the
Indexed Crediting Rate applicable for the <U>second and any subsequent Contract
Years</U>^ based on the year-over-year percentage change
in the <U>CPI-U, as determined three months prior to the Contract Anniversary
and</U>^ adjusted by <U>a </U> ^
Guaranteed Margin<U>. The Indexed Crediting Rate will be applied on a daily basis, which, if
compounded daily for one year, would equal the applicable Indexed Crediting Rate determined for
that year (please see </U> ^ Appendix&nbsp;A<U>:
&#147;How Interest is Credited&#148; for a description of the Indexed Crediting Rate formula). The Guaranteed
Margin will be shown on the specifications page, remains constant for the selected Term, and <I>could
be a negative value</I>. The Guaranteed Margin may vary by Term and Purchase payment amount. We will
reference the CPI-U as published three months previous to determining the Indexed Crediting Rate.
The CPI-U is available approximately mid-month every month and calculated based upon the previous
month&#146;s values</U>^ .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Floor Rate and Rate Cap. </B>The Indexed Crediting Rate will never fall below the minimum
Floor Rate of 0%. The Rate Cap will be set no lower than 5%. The Rate Cap may vary by Term and
Purchase payment amount.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>EXAMPLES:</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>The following examples assume that the current date is April&nbsp;10, 2010. To set the Indexed
Crediting Rate as of April&nbsp;10, 2010, we</u>
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>would look to the CPI-U that was available on February&nbsp;19, 2010, reflecting January&nbsp;2010 values. This may be referred to as a &#147;3&nbsp;month look-back;&#148; (April to
January). For example, if we are setting rates on
April&nbsp;20&#146;<sup>^</sup> 2010, we would still look to the
CPI-U that was available on February&nbsp;19, 2010. Therefore, on any day in April, we would be using
the CPI-U from January that was released in February.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Determining
the Indexed Crediting Rate</B>. If the CPI-U value three^ months prior to the
rate determination date is 200, the prior year&#146;s CPI-U value is 195, and the Guaranteed Margin
is 0.50%, then the Indexed Crediting Rate before the Floor Rate is applied would be:</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u style="border-bottom: 1px solid #000000"><IMG src="b86174a2b8617416.gif" alt="(LOG0)"></u>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Before any Floor Rate is applied, the Indexed Crediting Rate for the Contract Year is
<B>3.06%</B>.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Impact
of Rate Floor on Indexed Crediting Rate</B>. If the CPI-U value three^ months prior to the
rate determination date is 190, the prior year&#146;s CPI-U value is 200, the Floor Rate is 0%, and the
Guaranteed Margin is 0.50%, then the Indexed Crediting Rate before the Floor Rate is applied would
be:</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><u style="border-bottom: 1px solid #000000"><IMG src="b86174a2b8617417.gif" alt="(LOG0)"></u>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Because -4.50% is less than the 0% Floor Rate, the Indexed Crediting Rate for the Contract
Year is <B>0%</B>.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Impact
of Rate Cap on Indexed Crediting Rate</B>. If the CPI-U value three^ months prior to the
rate determination date is 210, the prior year&#146;s CPI-U value is 190, the -Rate Cap is 8%. and the
Guaranteed Margin is 0.50%, then the Indexed Crediting Rate before the Cap Rate is applied would
be:</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617418.gif" alt="(LOG0)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Because 11.03% is greater than the 8% Rate Cap, the Indexed Crediting Rate for the Contract
Year is <B>8%</B>.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^
</DIV>

<DIV align="left">
<A name="B86174111"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Withdrawals</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the earlier of the Maturity Date or the death of a Contract Owner, you may withdraw all
or a portion of your Account Value by written request, complete with all necessary information, to
our Annuities Service Center. For certain ^ Contracts <U>&nbsp;&nbsp;issued under
Qualified Plans (&#147;Qualified Contracts&#148;)</U>, the Code and regulations promulgated by the Internal
Revenue Service (&#147;IRS&#148;) may require the consent of a Qualified Plan participant&#146;s spouse to an
exercise of the withdrawal right. (See &#147;<U>IV. Charges, Deductions and</U>Adjustments <U>&#150;
Adjustments and</U>^ Charges <U>upon</U>^ Withdrawals.&#148;)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^Under our current administrative practices for partial withdrawals, we will permit you to specify
whether the amount you request is to be treated as a &#147;gross&#148; withdrawal amount or a &#147;net&#148;
withdrawal amount. If you request a &#147;gross&#148; amount, we will
reduce the Account Value of your
Contract by the amount requested, apply any applicable withdrawal charges and <U>Market Value
Adiustments</U>^ to the amount withdrawn from your Account Value and
pay you the difference. Because we impose withdrawal charges upon a withdrawal, the amount you
receive is likely to be less than the &#147;gross&#148; amount you requested. Application of a Market
Value Adjustment will further decrease the amount you receive, if the adjustment is negative,
and will increase the net amount you receive, if the adjustment is positive. (See &#147;<U>IV.
Charges, Deductions and</U> Adjustments <U>&#150; Adjustments
and</U>^ Charges
upon^ Withdrawals&#148; and the examples in Appendix&nbsp;B<U>:
&#147;Examples of Market Value Adjustment
Calculations.&#148;</U>)<BR><BR style="font-size: 6pt">^
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you request a &#147;net&#148; amount, and you have sufficient Account Value, we will reduce your Account
Value by the gross amount necessary to cover any applicable withdrawal charges and <U>Market
Value Adjustments</U>^ and leave a balance for payment to
you of the &#147;net&#148; amount requested. (We may, however, be required to reduce the amount payable
because of tax withholding requirements. Please read &#147;VII. Federal Tax Matters&#148; for more
information.) The amount you receive as a result of a &#147;net&#148; request may be less than the amount of
reduction of your Account Value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you do not specify if you want a &#147;gross&#148; amount or a &#147;net&#148; amount, we will process your partial
withdrawal request as a request for a &#147;gross&#148; amount. We also may change our current
administrative practices and discontinue processing &#147;net&#148; requests at any time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is no limit on the frequency of partial withdrawals. However, the amount withdrawn from your
Account Value must be at least equal to $1,000, the minimum amount specified in the Contract, or,
if less, the entire Account Value. If a partial withdrawal plus any
applicable withdrawal charge and any applicable Market Value Adjustment ^ would reduce the Account Value to less than
$5,000, the minimum specified in the Contract, we may treat the partial withdrawal as a total
withdrawal of the Account Value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>We treat any request to use a portion of your Account Value for the purchase of an immediate
annuity contract as a withdrawal request, subject to any applicable withdrawal charge and any
applicable Market Value Adjustment. We will do this even if you wish to purchase an immediate
annuity contract from us or from an affiliate of ours.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We treat all requests for a total withdrawal of the Account Value as a request to surrender your
Contract for a &#147;gross&#148; amount. As a result:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>you may receive less than the amount requested because of the imposition of
contract charges, including any applicable ^
Market Value Adjustment; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we will cancel your Contract as of the date we receive the request at our Annuities
Service Center.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may defer the payment of a full or partial withdrawal for not more than six months (or the
period permitted by applicable state law if shorter) from the date we receive the withdrawal
request. If we defer payments for more than 30&nbsp;days, we will credit the amount deferred with
interest at a rate not less <U>than t</U>he minimum required by applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Withdrawals are subject to Contract charges and Market Value Adjustments (see &#147;</B><U><B>IV. Charges,
Deductions and</B></U><B> Adjustments </B><U><B>&#150; Adjustments
and</B></U><B>^ Charges
</B><U><B>upon</B></U><B>^
Withdrawals&#148;)- Withdrawals from the Contract also may be subject to income tax and a 10% penalty
tax. Withdrawals are permitted from Contracts issued in connection with Section&nbsp;403(b)</B>
<U><B>Qualified Plans</B></U><B>^</B><B> only under limited circumstances </B>(see
<B>&#147;VII. Federal </B>Tax <B>Matters&#148;).</B>
</DIV>

<DIV align="left">
<A name="B86174112"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Special Withdrawal Services &#150; The Systematic Withdrawal Program</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We administer a Systematic Withdrawal Program (&#147;SWP&#148;) which permits you to pre-authorize a
periodic withdrawal of a specified amount of Account Value. We apply a Market Value Adjustment
factor and assess withdrawal charges if a SWP withdrawal exceeds the
^ Free Withdrawal Amount^<U>&#148; in</U> &#147;IV. Charges, Deductions and
Adjustments <U>&#150; Free Withdrawal Amount</U>&#148;). SWP withdrawals, like other withdrawals, may be
subject to income tax to the extent of earnings under the Contract
and, if made prior to age 59^ &#189;,
may also ^
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"> be subject to a 10% IRS penalty tax. If you are interested in a SWP, you may obtain a
separate authorization form and full information concerning the program and its restrictions from
your registered representative or our Annuities Service Center. There is no charge for
participation in the SWP program.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may modify or suspend the SWP program at any time. If we do, existing systematic withdrawal
payments will not be affected.
</DIV>

<DIV align="left">
<A name="B86174113"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Telephone and Electronic Transactions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may request withdrawals by telephone if you elect that option on an appropriate authorization
form provided by us. We will not be liable for following telephone instructions that we reasonably
believe to be genuine. We will employ reasonable procedures to confirm that instructions
communicated by telephone are genuine; such procedures include asking you, upon telephoning a
request, to provide certain identifying information. We may be liable for any losses due to
unauthorized or fraudulent instructions only where we fail to employ our procedures properly. For
your and our protection, we will tape record all such conversations. All telephone transactions
will be followed by a confirmation statement of the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We reserve the right to impose maximum withdrawal amounts and other procedural requirements related
to data security and identity verification in connection with the telephone withdrawal privilege.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">From time to time, we may also permit you to access information through our website. If we do, we
will require you to create an account with a username and password, and to maintain a valid e-mail
address. You will be responsible for keeping your password confidential and notifying us of any
loss or theft of your password or any unauthorized use of your password.
</DIV>

<DIV align="left">
<A name="B86174114"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Death Benefit Before Maturity Date</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any Owner dies prior to the Maturity Date (or date Annuity Payments begin, if earlier) the
death benefit will be equal to the Account Value, as of the date on which written notice and
proof of death (Due Proof of Death) and all required claim forms are received in good order at
our Annuities Service Center.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is
an individual. If any Owner is a non-natural person, the death of an Annuitant is treated as the
death of an Owner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section
72(s) of the Code. If the Contract cannot continue under Section&nbsp;72(s), or if the Beneficiary
elects not to continue the Contract, the death benefit will be distributed:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as an Annuity Option as described in the Contract; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>over the life of the Beneficiary, or over a period not to extend beyond the life
expectancy of the Beneficiary, with such distributions beginning within one year from
the date of the Owner&#146;s death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within five (5)&nbsp;years of the Owner&#146;s death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in one lump sum.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Withdrawal
Charges will be waived <U>and M^ arket
V^ alue A^ djustments will not apply</U> on any
withdrawals under (i<U>), (i</U>i), (iii)&nbsp;or (iv). If the Beneficiary dies before distributions
under (ii)&nbsp;or (iii)&nbsp;are complete, the remaining death benefit must be distributed in a lump sum
immediately. If there is more than one Beneficiary, the foregoing provisions will independently
apply to each Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract will terminate if the death benefit is taken in one sum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ If the Beneficiary decides to continue the Contract as the Owner, subject to Section&nbsp;72(s), the
new Owner must carry out the current Term and thereafter, applicable Market Value Adjustments and
withdrawal charges will apply to amounts withdrawn as described under the Contract. Such amounts
may be adjusted upward or downward by the application of a Market Value Adjustment factor. Subject
to the rights of an irrevocable Beneficiary, the new Owner in such instance may name a new
Beneficiary and, if no Beneficiary is so named, the new Owner&#146;s estate will be the Beneficiary. If
the Contract is held as part of a Qualified Plan, the terms of your Qualified Plan endorsement form
will control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will permit the Owner to limit the death benefit option(s) to be offered to any named
Beneficiary, if the Owner provides notice in writing to the Company prior to death and the desired
option(s) is one provided for in the Contract.
</DIV>



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<DIV align="left">
<A name="B86174115"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>^ Annuity Provisions</B>
</DIV>

<DIV align="left">
<A name="B86174116"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>General</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may apply the <U>entire Account Value, as may be increased or decreased by any applicable
Market Value Adjustment, to the</U>
<U>Annuity Options described below to begin receiving Annuity Payments. Your Beneficiary may apply
all ^ of the p</U>roceeds of the
Contract payable on death <U>before the Maturity Date</U>^ to the
Annuity Options described below, subject to the distribution
of death benefit provisions (see &#147;<U>III. Description of the Contract</U> &#150;<u>&nbsp;</u> Accumulation
Provisions &#150; Death Benefit Before Maturity Date&#148;
<U>above</U>).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Generally, annuity benefits under the Contract will begin on the Maturity Date (the
&#147;Annuitization&#148;). The Maturity Date is the date specified on the Contract specifications page,
unless changed. If no date is specified, the Maturity Date is the maximum Maturity Date. The
maximum Maturity Date is the first day of the month following the
95^ birthday of the Annuitant.
You may specify a different Maturity Date at any time by written request at least one month before
both the previously specified and the new Maturity Date. Without our consent, the new Maturity Date
may not be later than the maximum Maturity
Date.<SUP style="FONT-size: 85%; vertical-align: text-top"><U>1</U></SUP>
<U>You</U>^ will <U>be required to select </U>&nbsp; ^ the shortest <U>available Term if all of the
then-available Terms have expiration dates that would extend beyond
the maximum Maturity Date.</U><u>&nbsp;</u>
^ The Maximum Maturity Date will be revised to match the expiration date of that
shortest available Subsequent Term. The occurrence or scheduled occurrence of Maturity Dates when
the Annuitant is at an advanced age, <I>e.g., </I>past age 95, may in some circumstances have adverse
income tax consequences (see &#147;VII. Federal Tax Matters&#148; for ^ a more detailed discussion). Distributions from
<U>Oualified</U>^ Contracts may be required
before the Maturity Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may select the frequency of Annuity Payments. However, if the Account Value at the
Maturity Date is such that a monthly payment would be less than our minimum then in effect, we may
make a single payment in one lump sum adjusted by any Market Value Adjustment, if applicable, to
the Annuitant or <U>the person, person(s) or entity you designate to whom Annuity Payments are to
be made (the &#147;</U>Payee<U>&#148;)</U> on the Maturity Date.
</DIV>

<DIV align="left">
<A name="B86174117"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Annuity Options</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Annuity benefits are available under the Contract on a fixed basis <U>(&#147;Fixed Annuity&#148;)</U>. When
you purchase a Contract, and on or before
the Maturity Date, you may select one of the Annuity Options described below or choose an alternate
form of settlement acceptable to
us. If you do not select an Annuity Option, we will provide as a default option that Annuity
Payments be made for a period certain of
ten years and continue thereafter during the lifetime of the Annuitant. IRS regulations may
preclude the availability of certain Annuity
Options in connection with certain qualified Contracts. After the Maturity Date, the Annuitant or
Annuity Option selected may not be
changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We guarantee the following Annuity Options in the Contract.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Option (a): Non-Refund Life Annuity. </I>We will make Annuity Payments during the
lifetime of the Annuitant. No payments are due after the death of the Annuitant. Since
we do not guarantee that any minimum number of payments will be made, an Annuitant may
receive only one payment if the Annuitant dies prior to the date the second payment is
due.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Option (b): Life Annuity with Payments Guaranteed for 5, 10 or 20 Years. </I>We will
make Annuity Payments for the guaranteed period elected and continuing thereafter during
the lifetime of the Annuitant. Since we guarantee payments
for the period elected, we will make Annuity Payments to the end of such period
even if the Annuitant dies prior to the end of the period.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 3pt"><SUP style="FONT-size: 85%; vertical-align: text-top"><U>1</U></SUP><U>We will deny our consent to a later Maturity Date based solely upon any current or
future legal restrictions imposed by state laws and regulations or by the Internal Revenue Code or
the Internal Revenue Service (&#147;IRS&#148;). Currently, for Nonqualified Contracts, the IRS has not
provided guidance with respect to a maximum date on which annuity payments must start. In the event
that any future rulings, regulations, or other pronouncements by the IRS provide us with guidance,
we may need to restrict your ability to change to a Maturity Date under a Nonqualified Contract
which occurs when the Annuitant is at an advanced age (for example, past age 95). You should
consult with a qualified tax advisor for information about potential adverse tax consequences for
such Maturity Dates.</U>
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">











<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the foregoing Annuity Options which we are contractually obligated to offer at all
times, we may offer other Annuity Options in the future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Only an Account Value of $5,000 or more may be applied to one of the Annuity Options offered. If
the amount of the first Annuity Payment would be less than our minimum requirements then in effect,
we may make a single payment, adjusted by any Market Value Adjustment, if applicable, on the date
the first payment is payable. This single payment is in place of all other benefits provided by the
Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Effective January&nbsp;1, 2011, Section&nbsp;72(a)(2) of the Code permits partial annuitization of an
annuity contract and specifies that the tax cost basis, or investment in the contract, be allocated
pro rata between the portion of the contract being annuitized and the portion of the contract
remaining deferred. Currently, we do not support partial annuitization. Accordingly, any portion of
your Contract that you withdraw to be annuitized will be reported to the IRS as a taxable
distribution unless you transfer it into another contract (issued by John Hancock or by another
company) in a partial exchange conforming to the rules of Section&nbsp;1035 of the Code and Rev. Proc.
2008-24. Any such withdrawal, whether carried out as a tax-deferred partial exchange or as a
taxable withdrawal, will be subject to Market Value Adjustment and withdrawal charges.</U>
</DIV>

<DIV align="left">
<A name="B86174118"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Death Benefit on or After Maturity Date</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ If you have selected an Annuity Option providing for payments for a guaranteed period, and the
Annuitant dies on or after the Maturity Date, we will make the remaining guaranteed payments to the
Beneficiary. We will make any remaining payments at least as rapidly as under the method of
distribution being used as of the date of the Annuitant&#146;s death. If no Beneficiary is living, we
will commute any unpaid guaranteed payments to a single sum and pay that single sum to the estate
of the last to die of the Annuitant and the Beneficiary.
</DIV>

<DIV align="left">
<A name="B86174119"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Other Contract Provisions</B>
</DIV>

<DIV align="left">
<A name="B86174120"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">^ <I>Right to Review</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may cancel the Contract by returning it to our Annuities Service Center or agent within a
specified number of days after receipt of the Contract. The right to review period may vary in
certain states in order to comply with the requirements of insurance laws and regulations in such
states. The right to review period applicable to you, usually between fifteen and thirty days, will
appear on the first page of the Contract delivered to you. Within seven days after we receive the
returned Contract, we will pay you an amount equal to the Account Value, adjusted by any Market
Value Adjustment, if applicable, computed on the date your Contract is received by us. The Market
Value Adjustment will only be applied where the change<U>, up or down,</U> in <U>Guaranteed
Margins</U>^, as determined by the <U>Market Value Adjustment</U>
formula ^, is greater than 0.25%. If the purchase of this Contract involves the
replacement of any existing life insurance or annuity, then the right to review period is extended
to 30&nbsp;days. If the Contract is issued as an individual retirement annuity
under Section&nbsp;408 or
Section&nbsp;408A of the Code ^, and you
cancel the Contract during the first seven days of this right to review period, then we will return
to you <U>the greater of the Account Value or</U> the Payment made for the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We do not impose any withdrawal charge upon return of the Contract within the right to review
period, as determined by state insurance law. Upon cancellation, we will return to you either the
current Account Value or your full Purchase Payment, as required by state insurance laws and
regulations.
</DIV>

<DIV align="left">
<A name="B86174121"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Ownership</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of an individual annuity Contract, the Contract Owner is the person entitled to
exercise all rights under the Contract. In the case of a group annuity Contract, the group annuity
Contract is owned by the Group Holder; however, all Contract rights and privileges not expressly
reserved to the Group Holder may be exercised by each Certificate Owner as to such Owner&#146;s interest
as specified in his or her Certificate. The Contract Owner is the person designated in the Contract
specifications page or as subsequently named. If amounts become payable to any Beneficiary under
the Contract, then the Beneficiary becomes the Contract Owner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of <U>Contracts which do not receive favorable tax treatment under Sections&nbsp;401,
403 408A or 457 of the Code</U><U> (&#147;</U>Nonqualified
Contracts<U>&#148;)</U>, you may change the ownership of or
collaterally assign the Contract at any time prior to the Maturity Date, subject to the rights
of any irrevocable Beneficiary. Assigning a Contract, or changing the ownership of a Contract,
may be
 treated as a distribution of the Account Value for federal tax purposes (see &#147;VII.
Federal Tax Matters&#148; for ^ a more detailed
discussion).
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As the Owner of the Contract, you may have access to information for you or a member of your
family that we may provide regarding elder care needs and questions and informational assistance
that may help you identify various elder care service agencies available in your community.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You must make any request for a change of ownership or assignment in writing, and such a request
is subject to our approval. If approved by us, any assignment and any change will be effective as
of the date we receive your request at our Annuities Service Center. We assume no liability for
any payments made or actions taken before we approve a change or accept an assignment and no
responsibility for the validity or sufficiency of any assignment. If you make an absolute
assignment, it will revoke the interest of any revocable Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of qualified Contracts, ownership of the Contract generally may be transferred only by
the trustee of an exempt employees&#146; trust which is part of a retirement plan qualified under
Section&nbsp;401 of the Code or as otherwise permitted by applicable IRS regulations. Subject to the
foregoing, a qualified Contract may not be sold, assigned, transferred, discounted or pledged as
collateral for a loan or as security for the performance of an obligation or for any other purpose
to any person other than us.
</DIV>

<DIV align="left">
<A name="B86174122"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Beneficiary</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Beneficiary is the person, persons or entity designated in the Contract specifications page or
as subsequently named. However, if there is a surviving Contract Owner, that person will be
treated as the Beneficiary. You may change the Beneficiary subject to the rights of any
irrevocable Beneficiary. You must make any request for a change in writing. Such a request is
subject to our approval and if approved by us, the change will be effective on the date the
request is signed. We assume no liability for any payments made or actions taken before we approve
the change. If no Beneficiary is living, the Contingent Beneficiary will be the Beneficiary. The
interest of any Beneficiary is subject to that of any assignee. If no Beneficiary or Contingent
Beneficiary is living, the Beneficiary is the estate of the deceased Contract Owner. In the case
of certain Qualified Contracts, IRS regulations prescribe certain limitations on the designation
of a Beneficiary.
</DIV>

<DIV align="left">
<A name="B86174123"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Annuitant</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Annuitant is any natural person or persons to whom we will make Annuity Payments (unless you
designate a different Payee) and whose life is used to determine the duration of Annuity Payments
involving life contingencies. If you name more than one person as an Annuitant, the second person
named will be referred to as &#147;co-Annuitant.&#148; The Annuitant is as designated on the Contract
specifications page or in the application, unless changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On the death of the Annuitant, the co-Annuitant, if living, becomes the Annuitant. If there
is no living co-Annuitant, the Owner becomes the Annuitant. In the case of certain qualified
Contracts, there are limitations on the ability to designate and change the Annuitant and the
co-Annuitant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may change the Annuitant subject to the rights of any irrevocable Beneficiary. You must make
any request for a change in writing. Such a request is subject to our approval and, if approved by
us, the change will be effective as of the date we receive your request at our Annuities Service
Center. The Annuitant may not be changed after the Maturity Date.
</DIV>

<DIV align="left">
<A name="B86174124"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Spouse</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ Any federal tax provisions related to status as a &#147;spouse&#148; are governed by the Federal Defense of
Marriage Act (&#147;DOMA&#148;), which does not recognize civil unions or same-sex marriages that may be
allowed under state law. Therefore, the federal tax treatment available to spouses who fall within
the DOMA definition may not be available to civil union or same-sex marriage partners. However,
state law may extend to civil union and same-sex marriage partners some or all of the benefits
(other than federal tax benefits) accorded to spouses that fall under the DOMA definition. Please
consult with your tax advisor for information on how federal tax rules may affect Contracts where
civil union or same-sex marriage partners, either singularly or jointly own the Contract, or are
designated Annuitant(s), Beneficiary(ies) and/or Covered Person(s). <U> We will interpret the
provisions of the Contract so as to comply with the requirements of Section 72(s) of the Code.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Some states require that civil union and same-sex marriage partners receive the same contractual
benefits as spouses who fall within the DOMA definition. You should consult with a qualified
financial professional for additional information on your state&#146;s regulations regarding civil
unions and same-sex marriages.
</DIV>

<DIV align="left">
<A name="B86174125"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Modification</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not change or modify the Contract without the consent of the Owner or Group Holder, as
applicable, except to the extent necessary to conform to any applicable law or regulation or any
ruling issued by a government agency. However, on 30&nbsp;days notice to the Group Holder, we may change
the withdrawal charges, ^ free withdrawal percentage, annuity purchase
rate and the Market Value Adjustment as to any Certificates issued after the effective date of the
modification.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^
</DIV>

<DIV align="left">
<A name="B86174126"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Our Approval</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may accept or reject a Contract application in our sole discretion, which we will exercise in a
non-discriminatory manner.
</DIV>

<DIV align="left">
<A name="B86174127"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Discontinuance of New Owners</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of a group annuity Contract, we may, on 30&nbsp;days notice to the Group Holder, limit or
discontinue acceptance of new
applications and the issuance of new Certificates to group members or participants.
</DIV>

<DIV align="left">
<A name="B86174128"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Misstatement and Proof of Age, Sex or Survival</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may require proof of age, sex or survival of any person upon whose age, sex or survival an
Annuity Payment depends. If the age or sex of the Annuitant has been misstated, the benefits will
be those which the Annuity Payment would be provided for the correct age and sex. If we have made
incorrect Annuity Payments, the amount of any underpayments will be paid immediately. The amount of
any overpayment will be deducted from future Annuity Payments. We will uniformly charge or credit
interest in accordance with state law, as applicable. The provisions of the Contract shall be
interpreted so as to comply with the requirements of Section 72(s) of the Code.
</DIV>

<DIV align="left">
<A name="B86174129"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Non-participating</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your Contract is non-participating and will not share in our profits or surplus earnings. We will
pay no dividends on your Contract.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left">
<A name="B86174130"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">IV. Charges, Deductions and Adjustments
</DIV>

<DIV align="left">
<A name="B86174131"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Fee Table</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Contract Owner Transaction Expenses</B><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>Maximum Withdrawal Charge</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>2,</B></SUP> <SUP style="FONT-size: 85%; vertical-align: text-top"><B>3</B><BR></SUP></u>
<U>(as percent of applicable withdrawal amount)</U>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>Contract/Certificate Year at Time of Withdrawal &#150; Initial Term</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Term</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>3</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>4</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>5</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>7</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>8</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>9</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>10</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>1 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>0%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>2 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>0%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>0%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>3 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>4 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>5 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>6 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>7 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>4%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>8 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>4%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>3%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>9 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>4%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>3%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>2%</u></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><u>10 Year</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>8%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>7%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>6%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>5%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>4%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>3%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>2%</u></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD colspan="2" align="right"><u>1%</u></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top"><U>1</U></sup></TD>
    <TD>&nbsp;</TD>
    <TD><U>State premium taxes may also apply to your Contract, which currently range from 0.50% to
3.50% of your Purchase Payment (see Appendix&nbsp;E: &#147;State</U> <U>Premium Taxes&#148;)</u>.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top"><U>2</U></sup></TD>
    <TD>&nbsp;</TD>
    <TD><u>This charge is taken upon withdrawal or surrender within
the specified period of years measured from the date of your election of either an Initial
or</U> <U>Subsequent Term (see &#147;Withdrawal Charge&#148; below).</u></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top"><U>3</U></sup></TD>
    <TD>&nbsp;</TD>
    <TD><u>Withdrawal charges vary by
Terms. Because you select the Term, you determine your withdrawal charge period. Depicted in
this table are the maximum</U>
<U>withdrawal charges that will ever be imposed on this Contract, and which apply to the
Initial Term only. For the full schedule of withdrawal charges by</U>
<U>Subsequent Terms, please see Appendix&nbsp;C: &#147;Withdrawal Charge Schedule.&#148;</U></TD>
</TR>

</TABLE>


<DIV align="left">
<A name="B86174132"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Adjustments
</B><U><B>and</B></U><B>^ Charges</B>
<U><B>upon</B></U><B>^ Withdrawals</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We <U>will
deduct</U>^ withdrawal charges under the Contracts if you request a partial or full
withdrawal of Account Value <U>during the Initial Term or</U>  ^ any <U>Subsequent Term. When you select your Initial Term, your
withdrawal charge schedule is established. We may apply a Market Value Adjustment factor under the
Contracts if you request a partial or full withdrawal of Account Value or annuitize the Account
Value</U> ^ prior to the end of either the Initial Term or a
Subsequent Term. We may also <U>apply a Market Value Adjustment if your Beneficiary elects to
annuitize the death proceeds</U>^ .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not apply a Market Value Adjustment factor or assess withdrawal charges:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^if you request a withdrawal or annuitize ^ during the 30&nbsp;day period after the expiration of any Term. (We
must receive your written request for withdrawal at the end of a Term during the 30
day period following the end of that Term.); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if you request to withdraw any available <U>Free Withdrawal
Amount</U> ^; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if we cancel your Contract should you make withdrawals that bring your
Account Value below $5,000 (However, if the Account Value at the Maturity Date is such
that a monthly payment would be less than our minimum in effect, we may make a single
payment in one lump sum adjusted by any Market Value Adjustment, if applicable, to the
Annuitant or Payee on the Maturity Date.); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if you should be confined to an eligible Nursing Home as described below in
&#147;Waiver of Withdrawal Charge and M<U>arket</U> V<U>alue</U> A<U>djustment</U> &#150;
Confinement to Nursing Home&#148; and request <U>any withdrawal</U>^ of your Account Value; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in connection with our payment of Contract proceeds following the death of
the Owner or, if applicable, the Annuitant, except as described in &#147;Accumulation
Provisions &#150; Death Benefit Before Maturity Date.&#148;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not apply withdrawal charges on distributions made during
a one-year or a two-year
<U>Subsequent</U>^ Term. <U>For
C^ ontracts issued to Florida senior residents, withdrawal charges will not apply after the
tenth Contract Year. For example, if you are a Florida senior resident and selected an Initial Term
of seven years and then a Subsequent Term of five years, withdrawal charges would be applicable
only during the first three years of that Subsequent Term.</U>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide
information on the <U>Fee Withdrawal Amount</U>^, Market Value Adjustment factor and withdrawal charges in the sections that
follow. We next provide examples to illustrate how these impact &#147;gross&#148; and &#147;net&#148; requests to
withdraw Account Value. ^
</DIV>

<DIV align="left">
<A name="B86174133"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Free Withdrawal Amount</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We do not apply a Market Value Adjustment factor or assess withdrawal charges if your request does
not exceed a <U>&#147;Free Withdrawal</U>
<U>Amount.&#148; The Free Withdrawal Amount</U>^ is the greater of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the annual <U>&#147;</U>Required Minimum Distribution<U>&#148;</U>^ amount for Owners of Qualified Contracts (see &#147;VII.
Federal Tax Matters&#148;) who have attained age 70 <FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount of interest credited during the 12&nbsp;months prior to the date of the
request, less any <U>amount deducted from the Account Value for a full or partial
withdrawal (&#147;</U>Gross Withdrawal Amounts<U>&#148;)</U> taken during the 12&nbsp;month period
prior to the date of the request.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>EXAMPLE: Assume:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You purchase a Contract on September&nbsp;15, 2010 ^ for $100,000 and select a 5-year Initial Term.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You withdraw $25,000 at the end of the second year, and you have made no other withdrawals in the 12&nbsp;months prior.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Interest earned on your Contract in the second year (the 12&nbsp;months leading up to your withdrawal) equals $3,512.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your Free Withdrawal Amount equals the total interest earned in your second year (the 12&nbsp;months
leading up to your withdrawal), or $3,512, because you made no other withdrawals during that time
period.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Any</U> Market Value Adjustment <U>or withdrawal charges would be applied to only $21,488
of your withdrawal ($25,000 &#150; $3,512 = $21,488).</U>
</DIV>

<DIV align="left">
<A name="B86174134"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Market Value Adjustment</I></U> Factor
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>General. </B>One of the risks we face is the chance that you will want to withdraw money from your
Contract at a time when the market values of the investments that we purchase have declined in
value. We share that risk with you by applying a fixed formula, a &#147;Market Value Adjustment,&#148; to
amounts you withdraw or apply to an Annuity Option prior to the Maturity Date.</U> The Market Value
Adjustment ^ may decrease or increase the amount that we pay to
you or apply to an Annuity Option <U>, as described below and, alone or in combination with
applicable withdrawal charges, could result in your receiving less than your Purchase Payment</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ <B>Market Value Adjustment </B><U><B>Factor.</B>
Market Value Adjustment will be equal to (a)&nbsp;multiplied</U> by <U>&#091;(b)-1&#093;, where:</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>is equal to</U>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(i)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ the amount being withdrawn (in excess of the Free
Withdrawal Amount and <I>before </I>any applicable withdrawal
charge)<U>,</U> or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(ii)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the amount being</U> applied to an Annuity Option<U>; and</U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>(b)</U>&nbsp;<U>is equal to the Market Value Adjustment factor (the &#147;MVA</U> ^ factor&#148;)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><u>The
MVA factor is comprised of:</u>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the Guaranteed Margin offered for the Term you selected and is currently in effect for your Contract;</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><u><B>&#149;</B></u></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the Guaranteed Margin offered on a Term equal to the number of months remaining in
your current Term (as of the date of the withdrawal or annuitization);</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>an adjustment factor; and</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>the amount of time remaining in your current Term (as of the date of the withdrawal or annuitization).</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>The MVA factor components are applied according to</U>^ the following formula:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617419.gif" alt="(LOGO)">
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>M</I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB>^<I> = </I>the Guaranteed Margin in
effect for the current Term of your Contract (expressed as a decimal) (&#147;issued
Guaranteed Margin&#148;).</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>M</I><SUB style="FONT-size: 85%; vertical-align: text-bottom">withdrawal</sub> = the Guaranteed Margin offered on a Term equal to the number of months
remaining in your current Term, as of the date the withdrawal or annuitization request
is processed (expressed as a decimal) (&#147;withdrawal Guaranteed Margin&#148;). For purposes of
this calculation, months remaining will be rounded up to the next nearest whole month.
If a</u></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>withdrawal Guaranteed Margin of an appropriate duration is not available, we will
declare, solely for the purpose of applying the MVA factor, a withdrawal Guaranteed
Margin that is consistent with the Guaranteed Margin of durations that are available as
of the date of the withdrawal or annuitization.</TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="margin-left: 15px; text-indent: -15px"><U><B><I>k </I></B><I>= </I>the adjustment factor, which is always 0.25%. This is designed to compensate
us for certain expenses and losses that we may incur, either directly or indirectly, as
a result of withdrawal or annuitization. Thus, even if the issued Guaranteed Margin and
the withdrawal Guaranteed Margin are equal, or even if the withdrawal Guaranteed Margin
is less than the issued Guaranteed Margin by up to 0.25% (the amount of adjustment
factor &#145;k&#146;), adjustment factor &#145;k&#146; will cause the Market Value Adjustment to be
negative.</U></div></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="margin-left: 15px; text-indent: -15px"><U><B><I>n = </I></B>the number of months from the date of withdrawal or annuitization to the end
of the current Term. In the case of partial months, &#145;n&#146; is rounded up to the next month.
For example, assume you purchase a Contract on 9/15/10 and select a 5-year Term. On
9/15/12, you withdraw $25,000. &#145;n&#146; equals the number of months remaining between 9/15/12
and the end of your 5-Year Term (9/15/15), or 36&nbsp;months. Generally, the longer the time
remaining in your current Term, the greater the Market Value Adjustment impact on the
amount withdrawn or annuitized. This is because the more months remaining in your Term,
the higher the compounding factor &#145;n&#146; in the MVA factor.</U></div></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>EXAMPLE: Assume:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You purchase a Contract on September&nbsp;15, 2010^ for
$100,000 and select a 5-Y^ ear Initial Term.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>The Guaranteed Margin in effect for a 5-Year Initial Term on your date of purchase is 0.43%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You withdraw $25,000 at the end of the second year, and have made no other withdrawals in the 12&nbsp;months prior.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Because there are three years (36&nbsp;months) remaining in your Initial Term from the
date you make your withdrawal, we apply to the MVA factor the Guaranteed Margin for a
3-Y^ ear Term that is offered as of the date your withdrawal.
The Guaranteed Margin in effect for a 3-Year Term on the date of the withdrawal is
0.71%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>The adjustment factor &#145;k&#146; is 0.25%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U><B>&#149;</B></U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>And, after calculating the Free Withdrawal Amount (see &#147;Free Withdrawal Amount&#148;
above), the portion of your withdrawal that is subject to the Market Value Adjustment and a
withdrawal charge is $21,488.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your MVA factor equals 0.98433 ((1&#043;0.0043)/(1&#043;0.0071 &#043; 0.0025)) ^ (36/12).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your Market Value Adjustment equals -$337 (($21,488 * 0.98433) &#150; $21,488 = -$337).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Impact of the Guaranteed Margin on the Market Value Adjustment. </B>The Guaranteed Margin is based
on the difference between interest earned on investment bonds that we purchase, and the cost needed
to hedge our exposure under the Contracts. The interest earned/hedging cost differential passes to
the Market Value Adjustment through application of the Guaranteed Margin in the MVA factor. The
impact of the Guaranteed Margin on the Market Value Adjustment is visible in the relationship
between the issued Guaranteed Margin <I>(M</I><SUB style="FONT-size: 85%; vertical-align: text-bottom">issue</SUB>) and the withdrawal Guaranteed Margin
(<I>M</I><SUB style="FONT-size: 85%; vertical-align: text-bottom">withdrawal</SUB>). In general:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>if the issued Guaranteed Margin is <B><I>lower </I></B>than the withdrawal Guaranteed
Margin, the Market Value Adjustment will <B><I>reduce </I></B>the amount withdrawn or annuitized;
and</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>if the issued Guaranteed Margin is <B><I>higher </I></B>than the withdrawal Guaranteed
Margin plus the adjustment factor &#145;k&#146;, the Market Value Adjustment will <B><I>increase </I></B>the
amount withdrawn or annuitized.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>The greater the difference between the issued and the withdrawal Guaranteed Margins, the
greater the impact on the Market Value</U>
<U>Adjustment, especially if the withdrawal Guaranteed Margin is higher than the issued Guaranteed
Margin. The resulting negative</U>
<U>adjustment amount due to any <I>increase </I>of the withdrawal Guaranteed Margin from the issued
Guaranteed Margins will be higher than any positive adjustment amount resulting from a decrease of
the withdrawal Guaranteed Margin from the issued Guaranteed Margin (please see Appendix&nbsp;B:
&#147;Examples of Market Value Adjustment Calculations&#148;).</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><I>&nbsp;</I></TD>
    <TD width="1%"><I>&nbsp;</I></TD>
    <TD>^</TD>
</TR>


</TABLE>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Because of the Market Value Adjustment provision of the Contract, you bear the investment risk that
the current available Guaranteed Margin offered by us at the time of withdrawal or annuitization
may be higher than the initial or subsequent Guaranteed Margin applicable to the Contract with the
result that the amount you receive upon a withdrawal or annuitization may be substantially reduced</B>.
</DIV>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For more
<U>examples of how we calculate</U>^ the
Market Value Adjustment, ^
see &#147;Impact of Market Value Adjustment and Withdrawal Charge<U>,&#148;
below,</U>^ and <U>also</U> Appendix&nbsp;B<U>: &#147;Examples of Market
Value Adjustment Calculations.&#148;</U>^
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="B86174135"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Withdrawal Charge</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ A
withdrawal charge will reduce the amount payable to you if you make a withdrawal from the Contract
before the end of your chosen
<font style="white-space: nowrap">Term. ^</font>
 ^ We calculate the amount of the withdrawal charge by multiplying the Gross Withdrawal Amount, less
any applicable <U>Free Withdrawal</U>
<FONT style="white-space: nowrap"><U>Amount</U>^,</font> by the applicable
withdrawal charge percentage ^. We use separate withdrawal charge percentages for Initial
and Subsequent Terms. <U>Please see &#147;Fee Table&#148; above for a</U>
<U>schedule of the maximum withdrawal charge percentages applicable to Initial
Terms,</U>^ and Appendix&nbsp;C:
&#147;Withdrawal Charge Schedule^&#148; for <U>a complete schedule of
withdrawal charge percentages, including those applicable to Subsequent</U>
<U>Terms.</U>
^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^<BR>
<BR style="font-size: 6pt">We may subject withdrawals to a Market Value Adjustment in addition to the withdrawal charge
described above (see &#147;Market Value Adjustment Factor&#148; <U>above^</U>
and &#147;Impact of Market Value Adjustment and Withdrawal Charge <U>on Payable Withdrawal Amounts and
Account Value&#148; below</U>^). The Market Value Adjustment, alone or in
combination with applicable withdrawal charges, could result in your receiving total withdrawal
proceeds of less than your Purchase Payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Withdrawals may be subject to income tax to the extent of earnings under the Contract and, if made
prior to age <I>59</I><FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT><I>, </I>may also be subject to a 10% IRS penalty tax (see &#147;VII. Federal Tax Matters
<U>&#150;</U>^ Taxation of Partial and Full Withdrawals&#148;).
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Because we assess a withdrawal charge if you take a withdrawal from the Contract before the end
of your elected Term, and because you may elect Subsequent Terms upon the expiration of any Term,
withdrawal charges will apply, according to the schedules that appear in &#147;IV. Charges, Deductions
and Adjustments &#150; Fee Table&#148; and in Appendix&nbsp;C, for as long as you own your Contract.</B></U></TD>
</TR>

</TABLE>
</DIV>
</DIV>


<DIV align="left">
<A name="B86174136"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Waiver
of Applicable Withdrawal Charge and M<u>arket</u> V<u>alue</u> A<u>djustment</u> &#150;
Confinement to Nursing Home
(Not available in </I><U><I>Massachusetts</I></U><I>^ )</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In states where approved, any applicable withdrawal charge and <U>Market Value
Adjustment</U>^ will be waived on a full or
partial withdrawal prior to the Maturity Date if (1)&nbsp;beginning at least 30&nbsp;days after the Contract
Date a &#147;triggering event&#148; occurs and the Covered <U>Person&#146;</U>^s attained age is less than 80 on the Contract Date. Triggering events are as
follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Covered Person being diagnosed with a first occurrence of any Covered
Condition, subject to the Pre-existing Condition Limitation; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Covered Person&#146;s confinement in a Nursing Home.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order for a Covered Person to be considered confined in a Nursing Home, the following conditions
must be met:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person was not confined to a Nursing Home within two years prior to the
Effective Date of the Contract.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person&#146;s confinement is for at least 90 consecutive days;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person is receiving Nursing Care;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is based on a Physician&#146;s plan in accordance with accepted
standards of medical practice, and is
Medically Necessary;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">e.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is needed because of a Covered Person&#146;s inability to perform at
least two of the Activities of Daily
Living without Human Assistance because of either Physical Impairment or Cognitive
Impairment; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">f.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is received while the contract is in
force ^ and is not assigned.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Covered Person&#148; means the Owner. &#147;Covered Person&#148; will mean the Annuitant if the Contract is owned
by a Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Nursing Home&#148; means a facility which meets both of the following requirements:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is licensed and operated to provide Nursing Care for a charge (including room
and board), according to the laws of the
jurisdiction in which it is located;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>has services performed by or under the continual, direct, and immediate
supervision of a registered nurse, licensed practical nurse, or licensed vocational
nurse, on-site twenty-four (24)&nbsp;hours per day.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A Nursing Home may be a freestanding facility or it may be a distinct part of a facility, including
a ward, wing, or swing-bed of a hospital or other facility.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Nursing Home does not mean:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a hospital or clinic;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a rehabilitation hospital or facility;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an assisted care living facility;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a rest home (a home for the aged or a retirement home) which does not, as its primary
function, provide custodial care;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>your primary place of residence, including your living quarters in a continuing
care retirement community or similar entity; <U>or</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a facility for the treatment of alcoholism, drug addiction, or mental illness.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Pre-Existing Condition Limitation. </B>We will not waive any withdrawal charge for a diagnosis of a
first occurrence of a Covered Condition during the first two years <U>(six months for Contracts
issued in North Dakota, one year for Contracts issued in Montana)</U> after the effective date of
the Contract if it results from a Pre-existing Condition, as defined in your Contract. <U>This
limitation does not apply to any Contract issued in Alabama, Alaska, Arizona, California,
^ Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas,
Missouri, Nebraska, New Jersey, South Carolina, Tennessee, Virginia and Wyoming.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Pre-existing Condition&#148; means the existence of symptoms which would cause an ordinarily prudent
person to seek medical diagnosis, care, and treatment within one year before the effective date of
the Contract or a condition for which medical consultation, advice, or treatment was recommended by
or received from or sought from a Physician during the two years immediately preceding the
effective date of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A &#147;Physician&#148; is a person other than you, the Annuitant(s) or a member of your or the Annuitant&#146;s
families who is a licensed medical doctor (M.D.) or a licensed doctor of osteopathy (D.O.),
practicing within the scope of that license.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please refer to your Contract for additional information on Activities of Daily Living, Nursing
Care and other terms not specifically discussed in this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The waiver described above is not available in all states and certain terms may vary depending on
the state of issue as noted in your Contract. Withdrawals may be taxable and if made prior to age
59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT> may be subject to a 10% penalty (see &#147;VII. Federal Tax Matters&#148;).</B>
</DIV>

<DIV align="left">
<A name="B86174137"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Impact of Market Value Adjustment and Withdrawal Charge </I><U><I>on Payable Withdrawal Amounts and
Account Value</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>EXAMPLE: Assume:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You purchase a Contract on September&nbsp;15, 2010^
for $100,000 and select a 5-Y^ ear Initial Term. By the end of
year two, your total Account Value, including interest, is $106,812 ($100,000 (Purchase
Payment) &#043; $6,812 (total interest)).</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>The Guaranteed Margin in effect for a 5-Y^ ear Initial Term on your date of purchase is 0.43%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>You withdraw $25,000 at the end of the second year, and have made no other withdrawals in the 12&nbsp;months prior.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Because there are three years (36&nbsp;months) remaining in your Initial Term from the
date you make your withdrawal, we apply to the MVA factor the Guaranteed Margin for a
3-Y^ear Term that is in effect at the time of your withdrawal.
The Guaranteed Margin in effect for a 3-Y^ear Term on the date
of the withdrawal is 0.71%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>The adjustment factor &#145;k&#146; is 0.25%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>The applicable withdrawal charge is 7%.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>And, after calculating the Free Withdrawal Amount (see &#147;Free Withdrawal Amount&#148;
above), the portion of your withdrawal that is subject to the Market Value Adjustment and a
withdrawal charge is $21,488.</U></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your MVA factor equals 0.98433 ((1&#043;0.0043)/(1&#043;0.0071 &#043; 0.0025))</U><SUP style="FONT-size: 85%; vertical-align: text-top"><U>(36/12)</U></SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your
Market Value Adjustment equals -$337 (($21,488 * 0.98433) &#150; $21,488 = -$337).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your withdrawal charge equals $1,504 ($21,488 * 0.07 = $1,504).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>The
withdrawal amount payable to you equals $23,159 ($25,000 &#150; $337
&#150; $1,504 = $23,159).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Your remaining Account Value equals $81,812 ($106,812 (total Account Value prior to your
withdrawal) &#150; $23,159 (withdrawal amount payable to you) &#150; $337 ( the negative Market Value
Adjustment) -$1,504 (the withdrawal charge) = $81,812).</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please see
Appendix&nbsp;B<U>: &#147;Examples of Market Value Adjustment Calculations&#148;^</U> for
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>more
information on this example ^  and for additional,</U> illustrative
examples of the impact the Market Value Adjustment and Withdrawal Charge may have on the
<U>withdrawal amounts payable to you and on your</U> Account Value^.
</DIV>

<DIV align="left">
<A name="B86174138"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Other Charges and Deductions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Taxes</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We reserve the right to charge or provide for certain taxes against Purchase Payments, Account
Values, death benefits or Annuity Payments. Such taxes may include premium taxes or other taxes
levied by any government entity which we determine to have resulted from the:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ receipt by us of Purchase Payments;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>issuance of the Contracts;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>commencement or continuance of Annuity Payments under the Contracts; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>death of the Owner or Annuitant.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, we will withhold taxes to the extent required by applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except for residents of those states which apply premium taxes upon receipt of Purchase Payments,
we will deduct premium taxes from the Account Value used to provide for Annuity Payments. For
residents of those states which apply premium taxes upon receipt of Purchase Payments, we will
deduct premium taxes upon payment of any withdrawal or death benefits or upon any annuitization.
The amount deducted will depend on the premium tax assessed in the applicable state. State premium
taxes currently range from 0% to 3.5% of the Purchase Payment, depending on the
<U>jurisdiction</U>^ and the tax status of the Contract
and are subject to change by the legislature or other authority (see Appendix&nbsp;E: &#147;State Premium
Taxes&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">^
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="B86174139"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">V. General Information About Us
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>The Company</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your Contract is issued by John Hancock USA. John Hancock USA, formerly known as &#147;The Manufacturers
Life Insurance Company (U.S.A.),&#148; is a stock life insurance company originally organized under the
laws of Maine on August&nbsp;20, 1955 by a special act of the Maine legislature. John Hancock USA
redomesticated under the laws of Michigan on December&nbsp;30, 1992. John Hancock USA is authorized to
transact life insurance and annuity business in all states (except New York), the District of
Columbia, Guam, Puerto Rico and the Virgin Islands. Its principal office is located at 601 Congress
Street, Boston, Massachusetts 02210-2805. John Hancock USA also has an Annuities Service Center at
164 Corporate Drive, Portsmouth, NH 03801-6815.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The ultimate parent of John Hancock USA is Manulife Financial Corporation, a publicly traded
company, based in Toronto, Canada. ^ The Company changed its name to John Hancock Life Insurance
Company (U.S.A.) on January&nbsp;1, 2005 following <U>MFC&#146;s</U>^ acquisition of John Hancock Financial Services, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Rating Agencies, Endorsements and Comparisons. </B>We are ranked and rated by independent financial
rating services, including <U>Moody&#146;s</U>^ Investors Service,
Inc., Standard &#038; <U>Poor&#146;s</U>^ Rating Services, Fitch Ratings
Ltd. and A.M. Best Company. The purpose of these ratings is to reflect the financial strength or
claims-paying ability of John Hancock USA. The ratings are not intended to reflect the investment
experience or financial strength of the <U>&#147;</U>CPI <U>MVA</U> Separate Account<U>&#148; (the
non-registered separate account that we established within the General Account where we hold
reserves for our guarantees under the Contract)</U> or the Contracts. The ratings are available on
our website. We may from time to time publish the ratings in advertisements, sales literature,
reports to Contract Owners, etc. In addition, we may include in certain promotional literature
endorsements in the form of a list of organizations, individuals or other parties that recommend
the Company or the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Regulation. </B>John Hancock USA is subject to the laws of the State of Michigan governing insurance
companies and to the regulation of Michigan&#146;s Office of Financial and Insurance Regulation. In
addition, we are subject to regulation under the insurance laws of other jurisdictions in which we
operate. Regulation by the applicable insurance department includes periodic examination of our
operations, including contract liabilities and reserves. Regulation by supervisory agencies
includes licensing to transact business, overseeing trade practices, licensing agents, approving
policy forms, establishing reserve requirements, fixing maximum interest rates on life insurance
policy loans and minimum rates for accumulation of surrender values, prescribing the form and
content of required financial statements and regulation of the type and amounts of investments
permitted. Our books and accounts are subject to review by the applicable insurance department and
other supervisory agencies at all times, and we file annual statements with these agencies. A full
examination of our operations is conducted periodically by the applicable insurance departments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under insurance guaranty fund laws in most states, insurers doing business therein can be assessed
(up to prescribed limits) for policyholder losses incurred by insolvent companies. The amount of
any future assessments on us under these laws cannot be reasonably estimated. Most of these laws do
provide, however, that an assessment may be excused or deferred if it would threaten an insurer&#146;s
own financial strength.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although the federal government generally does not directly regulate the business of insurance,
federal initiatives often have an impact on the business in a variety of ways. Federal legislation
that removed barriers preventing banks from engaging in the insurance business or that changed the
federal income tax treatment of insurance companies, insurance company products, or employee
benefit plans could significantly affect the insurance business.
</DIV>

<DIV align="left">
<A name="B86174140"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>CPI
</B><B><U>MVA</U> Separate Account</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We established the Company&#146;s CPI <U>MVA</U> Separate Account in 2010 as a non-unitized separate
account under Michigan law^. The CPI <U>MVA</U>^ Separate Account is not registered as an
investment company under the <U>U.S.</U> Investment Company Act of 1940<U>, as amended</U>. The
Company maintains in its CPI <U>MVA</U> Separate Account assets which it selects in accordance
with applicable state law and which have a market value (or other value prescribed by applicable
state law) equal to the reserves the Company must maintain for the contracts and its other
liabilities with respect to the account. A Contract Owner has no interest in the performance of
<U>the</U> ^ CPI <U>MVA</U> Separate Account. A Contract Owner&#146;s
Account Value is based on the Declared Interest Rate and the Indexed Crediting Rates under the
Contract and not on the performance of <U>the</U>^ CPI <U>MVA</U> ^
Separate Account. Any gain or loss in the Company&#146;s CPI <U>MVA</U> ^ Separate Account accrues solely
to the Company, and we assume any risk associated with the possibility that the value of the assets
in the CPI <U>MVA</U> Separate Account might fall below the reserves and other liabilities that
must be maintained. Should the value of the assets
in
the Company&#146;s CPI <U>MVA</U> ^ Separate Account fall below reserve and other liabilities, the
Company will transfer assets
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"> from its
<U>&#147;</U>General Account<U>,&#148; the account that contains all
of the Company&#146;s assets other than assets in segregated asset accounts,</U> to its CPI <U>MVA</U> ^ Separate
Account to make up the shortfall. The Company reserves the right to transfer to its
General Account any assets of its CPI <U>MVA</U> ^ Separate Account in excess of such reserves and
other liabilities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company reserves the right to maintain assets in its CPI <U>MVA</U> Separate Account to
support any number of kinds of annuity contracts which it offers or may offer. These annuity
contract owners would stand in an equal position with regard to claims against the underlying
assets in the CPI <U>MVA</U> ^ Separate Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Both the assets accounted for in the Company&#146;s CPI <U>MVA</U> ^ Separate Account and all the other
assets maintained in its General Account are available to meet the Company&#146;s guarantees under its
contracts. These assets are not insulated from the claims of the Company&#146;s creditors and may be
charged with liabilities which arise from other business the Company conducts. See &#147;VI. The <U>MFC
</U>Subordinated Guarantee&#148; for information on the parent company&#146;s, Manulife Financial
Corporation&#146;s, guarantee of the MVA interest in the Contracts.
</DIV>

<DIV align="left">
<A name="B86174141"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Distribution of the Contract</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our wholly-owned subsidiary, John Hancock Distributors, LLC (&#147;JH Distributors&#148;), acts as principal
underwriter of the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contracts will be sold by registered representatives of broker-dealers authorized by JH
Distributors to sell them. Such registered representatives will also be our licensed insurance
agents. JH Distributors will pay distribution compensation to authorized broker-dealers in varying
amounts which under normal circumstances are not expected to exceed
^ 6 ^% of Purchase Payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registered representative through whom your Contract is sold will be compensated pursuant to
that registered representative&#146;s own arrangement with his or her broker-dealer. The registered
representative and the firm may have multiple options on how they wish to allocate their
commissions and/or compensation. We are not involved in determining your registered
representative&#146;s compensation. You are encouraged to ask your registered representative about the
basis upon which he or she will be personally compensated for the advice or recommendations
provided in connection with the sale of your Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may make additional payments to firms. These payments are sometimes referred to as &#147;revenue
sharing.&#148; Revenue sharing expenses are any payments made to broker-dealers or other intermediaries
to either (i)&nbsp;compensate the intermediary for expenses incurred in connection with the promotion
and/or sale of John Hancock investment products or (ii)&nbsp;obtain promotional and/or distribution
services for John Hancock investment products. Many firms that sell the Contracts receive one or
more types of these cash payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are among several insurance companies that pay additional payments to certain firms to receive
&#147;preferred&#148; or recommended status. These privileges include: additional or special access to sales
staff; opportunities to provide and/or attend training and other conferences; advantageous
placement of our products on customer lists (&#147;shelf-space arrangements&#148;); and other improvements in
sales by featuring our products over others.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Revenue sharing payments assist in our efforts to promote the sale of the Contracts and could be
significant to a firm. Not all firms, however, receive additional compensation. We determine which
firms to support and the extent of the payments we are willing to make, and generally choose to
compensate firms that are willing to cooperate with our promotional efforts and have a strong
capability to distribute the Contracts. We do not make an independent assessment of the cost of
providing such services. Instead, we agree with the firm on the methods for calculating any
additional compensation. The methods, which vary by firm, may include different categories to
measure the amount of revenue sharing payments, such as the level of sales, assets attributable to
the firm and the annuity contracts covered under the arrangement (including contracts issued by any
of our affiliates). The categories of revenue sharing payments that we may provide to firms,
directly or through JH Distributors, are not mutually exclusive and may vary from contract to
contract. <U>Currently, we have revenue sharing agreements in effect with Edward Jones, LPL
Financial LLC, and Signator Investors, Inc.</U> We or our affiliates may make additional types of
revenue sharing payments for other products, and may enter into new revenue sharing arrangements in
the future.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="B86174142"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VI. The <U>MFC</U> Subordinated Guarantee
</DIV>

<DIV align="left">
<A name="B86174143"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Description of Manulife Financial Corporation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The <U>MFC</U> Subordinated Guarantee is issued by MFC. MFC was incorporated under the Insurance
Companies Act (Canada) in 1999 for the purpose of becoming the holding company of The Manufacturers
Life Insurance Company, which was founded in 1887. As a mutual life insurance company, The
Manufacturers Life Insurance Company had no common shareholders and its board of directors was
elected by its participating policyholders. In September&nbsp;1999, The Manufacturers Life Insurance
Company implemented a plan of demutualization and converted into a life insurance company with
common shares and became a wholly-owned subsidiary of MFC. MFC&#146;s head office and registered office
is located at 200 Bloor Street East, Toronto, Ontario, Canada M4W 1E5 (Tel. No.&nbsp;416-926-3000).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC and
its subsidiaries provide^ financial
<U>protection and wealth management</U> products and services, including individual life
insurance, group life and health insurance, <U>long-term care insurance,</U> pension products,
annuities and mutual funds<U>.</U> ^ <U>These services are
provided</U> to individual and group customers in Canada, ^ Asia and
<U>the United States</U> ^. MFC
and its subsidiaries also ^ provide investment management services with respect to MFC&#146;s
general fund assets, segregated funds assets and mutual funds and ^
<U>to</U> institutional <U>customers.</U> ^ <U>MFC and its subsidiaries also offer reinsurance services, specializing
in life retrocession and property and casualty reinsurance.</U> MFC has directly or indirectly held
all of the outstanding shares of John Hancock USA capital stock since September&nbsp;1999.
</DIV>

<DIV align="left">
<A name="B86174144"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Description of the MFC Subordinated Guarantee</B>
</DIV>

<DIV align="left">
<A name="B86174145"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>What additional guarantee applies to my Contract?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ John Hancock USA&#146;s ultimate corporate parent, MFC, guarantees its obligations with respect to any
Contract to which this prospectus relates^ . The MFC Subordinated
Guarantee <U> ^ ^</U> may only be terminated
<U>(subject to any existing claims at the time of such termination)</U> for Contracts issued after
notice of termination is provided. The MFC Subordinated Guarantee does not relieve the Company of
any obligations under your Contract &#150; it is in addition to all of the rights and benefits that the
Contract provides. There is no charge or cost to you for the MFC Subordinated Guarantee, and there
are no disadvantages to you of having this additional guarantee.
</DIV>

<DIV align="left">
<A name="B86174146"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>What are the reasons for the additional MFC Subordinated Guarantee?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^The MFC Subordinated Guarantee is being offered in order to relieve John Hancock USA of the
obligation to file with the SEC annual, quarterly and current reports on Form 10-K, Form 10-Q and
Form 8-K, and thus save <U>John Hancock USA</U> ^ the expense of
being an SEC reporting company. MFC, the company that is providing the MFC Subordinated Guarantee,
is the ultimate parent of all of the companies in the John Hancock group of companies, including
John Hancock USA. MFC is a company organized under the laws of Canada and its common shares are
listed principally on the Toronto Stock Exchange and the New York Stock Exchange. MFC files with
the SEC annual reports on Form 40-F and other reports on Form 6-K. The financial results of John
Hancock USA are included in MFC&#146;s consolidated financial statements in a footnote containing
condensed consolidating financial information with separate columns for MFC, John Hancock USA and
other subsidiaries of MFC, together with consolidating adjustments.
</DIV>

<DIV align="left">
<A name="B86174147"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>What are the terms of the MFC Subordinated Guarantee?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^MFC <U>has
agreed to</U> unconditionally and irrevocably guarantee^ ,
as a principal and not merely as a surety, the full and punctual payment when due of all Contract
Value Interests payable by John Hancock USA pursuant to or from the Contract to any holder, owner,
annuitant or beneficiary under any Contract creating such interest, to any successor, legatee,
heir, or assignee of any such person or entity, to any other account or option under the Contract,
or to any other account of any such person or entity (all of the foregoing persons, entities,
accounts and options being referred to for this purpose as &#147;Payees&#148;). For this purpose, Contract
Value Interests are defined as guaranteed rates of return on Contract values, inclusive of
earnings. Contract Value Interests payable by John Hancock USA to a Payee from a Contract<U>:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon a full or partial withdrawal, <U>a</U> cancellation, a loan, a full
<U>conversion of Account Value to annuity payments, a full</U>or
partial conversion of <U>Account Value attributable to death benefit proceeds</U>
^ to annuity payments, or similar removal of assets, will be a net amount equal to the Contract&#146;s then current
<U>Account Value</U>^ after (i)&nbsp;increase for
<U>any</U>^ positive <U>Market Value
Adjustment</U>^ that would be credited
to a Payee under the <U>terms</U> ^ of the Contract for
the transaction in question and (ii)&nbsp;reduction for any interest, fees, charges,
outstanding loans, and negative <U>Market Value Adjustments</U>^ that would be charged against a
<U>Payee</U>^ under the
<U>terms</U>^ of the Contract for the transaction in
question; or</TD>


</TR>


</TABLE>
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ upon ^ payment of any other amount as a consequence of the death of any owner,
holder, or annuitant under a Contract prior to a completion conversion of <U>Account
Value</U>^ to annuity payments, will be a net
amount equal to the <U>Contract&#146;s</U>^ then
current <U>Account Value</U>^ after (i)
increase to reflect any accrued but uncredited <U>statutory</U> interest attributable
thereto and (ii)&nbsp;reduction for any interest, fees, charges, and outstanding loans that
would be charged against a <U>Payee</U>^ under the
<U>terms</U>^ of the Contract for the transaction in
question.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For this purpose, Contract Value Interests include net amounts removed in connection with the above
transactions and amounts remaining in the Contract, but do not include annuity payments that are
made following the complete or partial conversion of <U>Account
Value</U>^ to annuity payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This means that, if John Hancock USA fails to honor any valid request to pay a Contract Value
Interest, MFC guarantees the full amount that you would have received, or value that you would have
been credited with, had John Hancock USA fully met its obligations under your Contract with respect
to such Contract Value Interest. There is no charge or cost to you for receiving the MFC
Subordinated Guarantee. If John Hancock USA fails to make payment when due of any amount that is
guaranteed by MFC, you could directly request MFC to satisfy John Hancock USA&#146;s obligation, and MFC
must do so. You would not have to make any other demands on John Hancock USA as a precondition to
making a claim against MFC under the MFC Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee is issued pursuant to a subordinated guarantee dated the effective
date of the registration statement of which this prospectus forms a part, whereby MFC is a
guarantor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Unless otherwise stated in this section, the MFC Subordinated Guarantee constitutes an unsecured
obligation of MFC as guarantor, and is subordinated in right of payment to the prior payment in
full of all other obligations of MFC, except for other guarantees or obligations of MFC which by
their terms are designated as ranking equally in right of payment with or subordinated to the MFC
Subordinated Guarantee, and effectively rank senior to MFC&#146;s preferred and common shares. As a
result, in the event of MFC&#146;s bankruptcy, liquidation, dissolution, winding-up or reorganization or
upon acceleration of any series of debt securities due to an event also triggering payment
obligations on other debt, MFC&#146;s assets will be available to pay its obligations on the MFC
Subordinated Guarantee only after all secured indebtedness and other indebtedness senior to the MFC
Subordinated Guarantee has been paid in full. There may not be sufficient assets remaining to pay
amounts due on all or any portion of the MFC Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee is governed by the laws of the Commonwealth of Massachusetts. The
MFC Subordinated Guarantee will provide that any claim or proceeding brought by a holder <U>of a
Contract</U> to enforce the obligations of MFC, as guarantor, may be brought in a <U>state or
federal</U> court <U>located</U> ^ in the
City of Boston, Commonwealth of Massachusetts, and that MFC submits to the non-exclusive
jurisdiction of such courts in connection with such action or proceeding. MFC has designated John
Hancock USA as its authorized agent upon whom process may be served in any legal action or
proceeding against MFC arising out of or in connection with the MFC Subordinated Guarantee. All
payments on the Contracts offered by this prospectus <U>made</U> by MFC <U>to any Payee</U> under
the MFC Subordinated Guarantee will be made without withholding or deduction for, or on account of,
any present or future taxes, duties, assessments or governmental charges of whatever nature imposed
or levied by or on behalf of the Government of Canada, or any province, territory or political
subdivision thereof, or any authority therein or thereof having power to tax, unless the
withholding or deduction of such taxes, duties, assessments or governmental charges by MFC is
required by law or by the administration or interpretation of such law. In the event of any
withholding or deduction, MFC will pay such additional amounts as may be necessary in order that
the net amounts received by the holders of the Contracts offered by this prospectus after such
withholding or deduction <U>equals</U>^ the respective
amounts under such Contracts which would have been receivable in respect of those Contracts in the
absence of such withholding or deduction (&#147;Guarantor Additional Amounts&#148;), except as described in
this section and except that no such Guarantor Additional Amounts shall be payable with respect to
^ taxes, duties, assessments or governmental charges <U>imposed on a Payee</U> <U>with</U>
^ respect <U>to any</U> ^ Contract <U>offered by this prospectus:</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(a)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;by reason of his being a person with whom John Hancock USA or
<U>MFC</U>^ is not dealing at arm&#146;s length
for the purposes of the Income Tax Act (Canada), or (ii)&nbsp;by reason of his having a connection
with Canada or any province or territory thereof other than the mere holding, use or ownership
or deemed holding, use or ownership of such Contract;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by <u>reason of his being</u> ^ liable for or subject to such
withholding or deduction <u>because of his failure to make</u>^ a claim for exemption to the
relevant tax authority; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>more than 10&nbsp;days after the Relevant Date (as defined below) except to the extent that the
holder thereof would have been entitled to Guarantor Additional Amounts on presenting the same for
payment on the last day of such period of 10&nbsp;days.</TD>
</TR>

</TABLE>
</DIV>


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</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As used in this section &#147;Relevant Date&#148; shall mean the date on which such payment first becomes
due.
</DIV>

<DIV align="left">
<A name="B86174148"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Where You Can Find More Information</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC is
subject to the information requirements of the^ Securities
Exchange Act of 1934, <U>as amended,</U> and, in accordance with that Act, files reports and other
information with the SEC. <U>Pursuant to the</U>^
multijurisdictional disclosure system adopted by the United States and Canada, these reports and
other information (including financial information) may be prepared in accordance with the
disclosure requirements of Canada, which are different from those of the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may read and copy any reports, statements or other information filed by MFC at the SEC&#146;s Public
Reference Room, Station Place, 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information on the operation of the Public Reference Room. You can also
inspect reports, proxy statements and other information about MFC at the offices of the New York
Stock Exchange, 20 Broad Street, New York, New York 10005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may also obtain copies of this information by mail from the Public Reference Section of the
SEC, Station Place, 100 F Street, N.E., Washington, D.C. 20549, at prescribed rates, or from
commercial document retrieval services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The SEC maintains a website that contains reports, proxy statements and other information,
including those filed by MFC, at <U>http://www.sec.gov</U>. You may also access the SEC filings
and obtain other information about MFC through the website maintained by MFC, which is
<U>http://www.manulife.com</U>. The information contained in<U>, or accessible through, MFC&#146;s</U>
^ website is not incorporated by reference into this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company and MFC filed a joint registration statement on Form F-3
  ^ relating to the Contracts
offered by this prospectus with the SEC under the Securities Act of 1933, as amended. This
prospectus is a part of that registration statement. As permitted by SEC rules, this prospectus
does not contain all the information you can find in the registration statement. The SEC allows MFC
to &#147;incorporate by reference&#148; information into this prospectus, which means that we can disclose
important information to you by referring you to other documents filed separately with the SEC. For
more information about the Contracts and us, you may obtain a copy of the Registration Statement
(File number <U>333-168694</U> ^) in the manner set forth in the
preceding paragraphs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The information incorporated by reference is deemed to be part of this prospectus, except for any
information superseded by information in this prospectus. These documents contain important
information about the companies and their financial condition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC incorporates by reference the documents listed below, which were filed with the SEC:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ MFC&#146;s <U>Report</U> ^ of Foreign Issuer on Form 6-K
filed <U>April&nbsp;14, 2011</U> ^;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ MFC&#146;s Report of Foreign Issuer on Form 6-K filed March <U>25,
2011</U> ^, other than the sections of the Notice of
Annual Meeting and Proxy Circular entitled &#147;Report of the Management Resources and
Compensation Committee,&#148; &#147;Performance Graph&#148; and &#147;Supplemental Shareholder
Return&#147;<U>,</U> and other than the consolidated financial statements as at, and for the
years then ended December&nbsp;31, <U>2010</U> ^ and
<U>2009;</U>
^ </TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31, 2010, as
filed on March&nbsp;18, 2011 and as amended</U>
<U>and filed on Form 40-F/A on March&nbsp;25, 2011; ^ and</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(d)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31, 2009, as
filed on March&nbsp;19, 2010 and as
amended and filed on Form 40-F/A on March&nbsp;29, 2010, other than the section of the Annual
Information Form entitled &#147;Ratings<U>.&#148;</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ </TD>
</TR>


</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Copies of the documents incorporated in this prospectus by reference may be obtained <U>upon
written or oral</U>^ request without charge from:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
ATTN: Corporate Secretary

</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">200 Bloor Street East, NT-10<BR>
Toronto, Ontario Canada M4W 1E5<BR>
Telephone: (416)&nbsp;926-3000

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any annual reports on Form 20-F, Form 40-F or Form 10-K, any reports on Form 10-Q or Form 8-K,
other than current reports furnished to the SEC pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 of Form 8-K, and
any Form 6-K specifying that it is being incorporated by reference in this prospectus <U>to the
extent expressly provided on such report</U>, as well as all prospectus supplements disclosing
additional or updated information, filed by MFC with the SEC subsequent to the date of this
prospectus shall be deemed to be incorporated by reference into this prospectus<U>, except that
any section of any annual information form entitled &#147;Ratings&#148; or another similar caption shall not
be deemed to be incorporated by reference into this prospectus and the registration statements of
which this prospectus forms a part</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any statement contained in this prospectus or in a document incorporated or deemed to be
incorporated by reference in this prospectus shall be deemed to be modified or superseded for
purposes of this prospectus to the extent that a statement contained in this prospectus or in any
other subsequently filed document which also is or is deemed to be incorporated by reference in
this prospectus modifies or supersedes such prior statement. Any statement or document so modified
or superseded shall not, except to the extent so modified or superseded, be incorporated by
reference and constitute a part of this prospectus.
</DIV>

<DIV align="left">
<A name="B86174149"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Enforcement of Judgments</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC is a corporation incorporated under the laws of Canada. Because a substantial portion of MFC&#146;s
assets are located outside the United States and most of its directors and officers are not
residents of the United States, any judgment obtained in the United States against MFC or certain
of its officers and directors, including a judgment with respect to payments on the MFC
Subordinated Guarantee, may not be collectible within the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the MFC Subordinated Guarantee, MFC agrees that any legal action or proceeding against
it arising out of or in connection with the MFC Subordinated Guarantee may be brought in any United
States federal or Massachusetts state court located in the City of Boston, Commonwealth of
Massachusetts (a &#147;Massachusetts Court&#148;), and irrevocably submits to the non-exclusive jurisdiction
of such courts in connection with such action or proceeding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC has been informed by its Canadian counsel, Torys LLP, that the laws of the Province of Ontario
and the federal laws of Canada applicable therein permit an action to be brought in a court of
competent jurisdiction in that province on any final judgment in personam of any Massachusetts
Court, against MFC, which judgment is subsisting and unsatisfied for a fixed sum of money with
respect to the enforcement of the MFC Subordinated Guarantee and that is not impeachable as void or
voidable under the internal laws of the Commonwealth of Massachusetts if:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(i)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ the court rendering such judgment had
jurisdiction over the judgment debtor, as recognized by the courts of Ontario (submission
by MFC in the MFC Subordinated Guarantee to the non-exclusive jurisdiction of a
Massachusetts Court , will be sufficient for this purpose);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(ii)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ such judgment was not obtained by fraud or
in a manner contrary to natural justice or other rule of law, whether equitable, legal or
statutory and the enforcement thereof would not be inconsistent with public policy, as
such term is understood under the laws of Ontario and the federal laws of Canada
applicable therein or contrary to any order made by
the Attorney General of Canada under the Foreign Extraterritorial Measures Act
(Canada) or by the Competition Tribunal under the Competition Act (Canada);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(iii)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ the enforcement of such judgment does not
constitute, directly or indirectly, the enforcement of foreign revenue or penal laws in the
Province of Ontario; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><U>(iv)</U></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ the action to enforce such judgment is
commenced within the applicable limitation period.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Enforcement of a judgment by a court in the Province of Ontario, as described above, may only be
given in Canadian dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the opinion of Torys LLP, there are currently no reasons under the present laws of the Province
of Ontario for avoiding recognition of said judgments of Massachusetts Courts on the MFC
Subordinated Guarantee based upon public policy. However, it may be difficult for holders of
Contracts to effect service within the United States upon MFC&#146;s directors and officers and the
experts named in this prospectus who are not residents of the United States or to enforce against
them, both in and outside of the United States,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">judgments of courts of the United States predicated
upon civil liability under United States federal securities laws. MFC has designated John Hancock
USA as its authorized agent upon whom process may be served in any legal action or proceeding
against MFC arising out of or in connection with the applicable MFC Subordinated Guarantee. Based
on the opinion of Torys LLP, MFC believes that a monetary judgment of a United States court
predicated solely upon the civil liability provisions of United States federal securities laws
would likely be enforceable in Canada if the United States court in which the judgment was obtained
had a basis for jurisdiction in the matter that was recognized by a Canadian court for such
purposes. We cannot assure you that this will be the case since the case law in Canada in respect
of this matter is not entirely clear. It is less certain that an action could be brought in Canada
in the first instance on the basis of liability predicated solely upon such laws.
</DIV>






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<DIV align="left">
<A name="B86174150"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VII. Federal Tax Matters
</DIV>

<DIV align="left">
<A name="B86174151"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Introduction</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any discussion of the federal income tax treatment of the Contracts contained in this prospectus is
not exhaustive, does not purport to cover all situations, is not intended as tax advice and is not
intended for and cannot be used for the purpose of avoiding penalties. The federal income tax
treatment of the Contracts is unclear in certain circumstances, and you should consult a qualified
and independent tax advisor with regard to the application of law to your individual circumstances.
Bear in mind that the tax-related discussions herein may have been written to support the promotion
or marketing of a transaction or other matter that is relevant to you for tax purposes. The
following discussion is based on the Code, IRS regulations, and interpretations existing on the
date of this prospectus. These authorities, however, are subject to change by Congress, the IRS,
and judicial decisions. The prospectus does not address state or local tax consequences associated
with the purchase of the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>We make no guarantee regarding any tax treatment, federal, state or local, of any Contract or of
any transaction involving a Contract.</B>
</DIV>

<DIV align="left">
<A name="B86174152"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Our Tax Status</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are taxed as a life insurance company under the Code. The assets in the CPI <U>MVA</U> Separate
Account are owned by us, and the
income derived from such assets is includible in our income for federal income tax purposes.
</DIV>

<DIV align="left">
<A name="B86174153"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Taxation of Annuities in General</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax Deferral During Accumulation Period</B>. Under existing provisions of the Code, except as described
below, any increase in Account Value is generally not taxable to you as the Contract Owner or to
the Annuitant until received, either in the form of Annuity Payments as contemplated by the
Contracts, or in some other form of distribution. However, this rule applies only if the Contract
Owner is an individual or, in some cases, a trust or other entity treated as an agent for a natural
person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a general rule, deferred annuity contracts held by &#147;non-natural persons,&#148; such as a corporation,
trust or other similar entity, as opposed to a natural person, are not treated as annuity contracts
for federal income tax purposes. The income on such contracts (as defined in the tax law) is taxed
as ordinary income that is received or accrued by the owner during the taxable year. There are
several exceptions to this general rule for non-natural contract owners. First, annuity contracts
will generally be treated as held by a natural person if the nominal owner is a trust or other
entity which holds the contract as an agent for a natural person. However, this exception will not
apply in the case of any employer which is the nominal owner of an annuity contract under a
nonqualified deferred compensation arrangement for its employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Other exceptions to the general rule for non-natural contract owners will apply with respect to:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ annuity contracts acquired by an estate of a decedent by reason of the death of the
decedent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>annuity contracts issued in connection with certain qualified retirement plans;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>annuity contracts purchased by employers upon the termination of certain qualified
retirement plans;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certain annuity contracts used in connection with structured settlement agreements; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>annuity contracts purchased with a single premium when the annuity starting date
is no later than a year from purchase of the annuity and substantially equal periodic
payments are made, not less frequently than annually, during the annuity period.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the foregoing, if the contract&#146;s maturity date occurs, or is scheduled to occur, at
a time when the annuitant is at an advanced age, such as over age 95, it is possible that the owner
will be taxable currently on the annual increase in the account value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The remainder of this discussion assumes that the Contract will constitute an annuity for federal
tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Partial and Total Withdrawals. </B>In the case of a partial withdrawal, amounts received
generally are includible in income to the extent the Owner&#146;s Account Value before the withdrawal
exceeds his or her &#147;investment in the contract.&#148; In the case of a total withdrawal, amounts
received are includible in income to the extent they exceed the &#147;investment in the contract.&#148; For
these purposes the &#147;investment in the contract&#148; at any time equals the total of the Purchase
Payments made under the Contract ^ (to the extent such
payments were neither deductible when made nor excludable from income as, for example, in the case
of certain employer contributions to qualified contracts) less any amounts previously received from
the Contract which were not included in income. If, however, the Contract was issued pursuant to a
tax-deferred exchange under Section&nbsp;1035 of the Code, the
&#147;investment in the
</DIV>


<DIV style="margin-top: 6pt">
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</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">contract&#148; at any time equals the amount brought over in the exchange as investment in the
contract less any amounts previously received from the Contract whish were not included in
income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Other than in the case of Qualified Contracts (which generally cannot be assigned or pledged), any
assignment or pledge (or agreement to assign or pledge) any portion of the Account Value is treated
as a withdrawal of such amount or portion. The investment in the Contract is increased by the
amount includible in income with respect to such assignment or pledge, though it is not affected by
any other aspect of the assignment or pledge (including its release). If you transfer your interest
in a Contract without adequate consideration to a person other than your spouse (or a former spouse
incident to divorce), you will be taxed on the difference between your Account Value and the
investment in the Contract at the time of transfer. In such case, the transferee&#146;s investment in
the Contract will be increased by the amount included in the transferor&#146;s income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is some uncertainty regarding the treatment of the Market Value Adjustment for purposes of
determining the amount includible in income as a result of any partial withdrawal, assignment or
pledge, or transfer without adequate consideration. The IRS has regulatory authority to address
this uncertainty. However, as of the date of this prospectus, the IRS has not issued any final
regulations addressing these determinations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Annuity Payments. </B>Normally, the portion of each Annuity Payment taxable as ordinary
income is equal to the excess of the payment over the exclusion amount. The exclusion amount is the
amount determined by multiplying (1)&nbsp;the payment by (2)&nbsp;the ratio of the investment in the
Contract, adjusted for any period certain or refund feature, to the total expected value of Annuity
Payments for the term of the Contract (determined under Treasury Department regulations). A
simplified method of determining the taxable portion of Annuity Payments applies to Contracts
issued in connection with certain Qualified Plans other than IRAs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Once the total amount of the investment in the Contract has been excluded using this ratio, further
Annuity Payments will be fully taxable. If Annuity Payments cease because of the death of the
Annuitant and before the total amount of the investment in the Contract is recovered, the
unrecovered amount generally will be allowed as a deduction to the Annuitant in his or her last
taxable year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There may be special income tax issues present in situations where the Owner and the Annuitant are
not the same person or are not married. You should consult a tax advisor in those situations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Effective January&nbsp;1, 2011, Section&nbsp;72(a)(2) of the Code permits partial annuitization of an
annuity contract and specifies that the tax cost basis, or investment
in the contract, be allocated
pro rata between the portion of the contract being annuitized and the portion of the contract
remaining deferred. Currently, we do not support partial annuitization. Accordingly, any portion of
your Contract that you withdraw to be annuitized will be reported to the IRS as a taxable
distribution unless you transfer it into another contract (issued by John Hancock or by another
company) in a partial exchange conforming to the rules of Section&nbsp;1035 of the Code and Rev. Proc.
2008-24. Any such withdrawal, whether carried out as a tax-deferred partial exchange or as a
taxable withdrawal, will be subject to Market Value Adjustment and withdrawal charges.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Death Benefit Proceeds. </B>Amounts may be distributed from a Contract because of the death
of an Owner or, if the Owner is not a natural person, the death of the Annuitant. Prior to the
Maturity Date, such death benefit proceeds are includible in income as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed in a lump sum, they are taxed in the same manner as a full withdrawal, as
described above; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed under an Annuity Option, they are taxed in the same manner as Annuity
Payments; as described above.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>After the Maturity Date, where a guaranteed period exists under an Annuity Option and the
Annuitant dies before the end of that period, payments made to the Beneficiary for the
remainder of that period are includible in income as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ if received in a lump sum, they are includible in income to the extent that they
exceed the unrecovered investment in the contract at that time;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed in accordance with an existing period certain Annuity Option, they
are fully excludible from income until the remaining investment in the contract is
deemed to be recovered, and all Annuity Payments thereafter are fully includible in
income; or</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Penalty Tax on Premature Distributions. </B>Where a Contract has not been issued in connection with a
Qualified Plan, there generally is a 10% penalty tax on the taxable amount of any payment from the
Contract. This penalty is not applicable if the payment is:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>^ received on or after the date on which the Owner reaches age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attributable to the Owner becoming disabled (as defined in the tax law);</TD>
</TR>

</TABLE>
</DIV>
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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> made on or after the death of the Owner or, if the Owner is not an individual, on or
after the death of the primary Annuitant (as defined in the tax law);</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made as a series of substantially equal periodic payments (not less frequently than annually)
for the life (or life expectancy) of the owner or the joint lives (or joint life expectancies)
of the owner and a &#147;designated beneficiary&#148; (as defined in the tax law), or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made under a contract purchased with a single premium when the maturity date is no later than
a year from purchase of the contract and substantially equal periodic payments are made, not
less frequently than annually, during the annuity period.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ <B>Aggregation of Contracts. </B>In certain circumstances, the IRS may determine the amount of an annuity
payment or a withdrawal from a contract that is includible in income by combining some or all of
the annuity contracts owned by an individual which are not issued in connection with a Qualified
Plan. For example, if you purchase a Contract offered by this prospectus and also purchase at
approximately the same time an immediate annuity, the IRS may treat the two contracts as one
contract. Similarly, if a person transfers part of his interest in one annuity contract to purchase
another annuity contract, the IRS may in some instances treat the two contracts as one contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, if you purchase two or more deferred annuity contracts from the same insurance company
(or its affiliates) during any calendar year, all such contracts will be treated as one contract
for purposes of determining whether any payment not received as an annuity (including withdrawals
prior to the maturity date) is includible in income. Thus, if during a calendar year you buy two or
more of the Contracts offered by this prospectus (which might be done, for example, in order to
invest amounts in different Terms), all of such Contracts would be treated as one Contract in
determining whether withdrawals from any of such Contracts are includible in income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The effects of such aggregation are not always clear and depend on the circumstances. However,
aggregation could affect the amount of a withdrawal that is taxable and the amount that might be
subject to the 10% penalty tax described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Exchanges of Annuity Contracts. </B>We may issue the Contract in exchange for all or part of another
annuity contract that you own. Such an exchange will be tax free under Code Section&nbsp;1035 if certain
requirements are satisfied. If you exchange all of another annuity contract and the exchange is tax
free, your investment in the Contract immediately after the exchange will generally be the same as
that of the annuity contract exchanged, increased by any additional Purchase Payment made as part
of the exchange. Your Account Value immediately after the exchange may exceed your investment in
the Contract. That excess may be includable in income should amounts subsequently be withdrawn or
distributed from the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you exchange part of an existing contract for the Contract, and within 12&nbsp;months of the exchange
you receive a payment (e.g., you make a withdrawal) from either contract, the exchange may not be
treated as a tax free exchange. Rather, the exchange may be treated as if you had made a partial
withdrawal from the existing contract and then purchased the Contract. In these circumstances, some
or all of the amount exchanged into the Contract could be includible in your income and subject to
a 10% penalty tax.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You should consult your tax advisor in connection with any exchange pursuant to Code Section&nbsp;1035
for the Contract, particularly if you plan to make a withdrawal from either contract within 12
months after the exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Loss of Interest Deduction Where Contracts are Held by or for the Benefit of Certain Non-Natural
Persons. </B>In the case of contracts issued after June&nbsp;8, 1997 to a non-natural taxpayer (such as a
corporation or a trust), or held for the benefit of such an entity, a portion of otherwise
deductible interest may not be deductible by the entity, regardless of whether the interest relates
to debt used to purchase or carry the contract. However, this interest deduction disallowance does
not affect contracts where the income on such contracts is treated as ordinary income that is
received or accrued by the owner during the taxable year. Entities that are considering purchasing
the Contract, or entities that will be beneficiaries under a Contract, should consult a tax
advisor.
</DIV>

<DIV align="left">
<A name="B86174154"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Qualified Retirement Plans</B>
</DIV>

<DIV align="left">
<A name="B86174155"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>In General</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contracts are also designed for use in connection with certain types of qualified retirement
plans which receive favorable
treatment under the Code. Numerous special tax rules apply to participants in such Qualified Plans
and to Contracts used in
connection with such Qualified Plans. In this prospectus we provide only general information about
the use of the Contract with the
various types of Qualified Plans. Persons intending to use the Contract in connection with a
Qualified Plan should seek competent
advice.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The tax rules applicable to Qualified Plans vary according to the type of plan and the terms and
conditions of the plan itself. For example, for both withdrawals and annuity payments under certain
Qualified Contracts, there may be no &#147;investment in the contract&#148; and the total amount received may
be taxable. Both the amount of the contribution that may be made, and the tax deduction or
exclusion that the owner may claim for such contribution, are limited under Qualified Plans. If you
are considering purchasing a Contract for use in connection with a qualified retirement plan, you
should consider, in evaluating the suitability of the Contract, that the Contract allows only a
single Purchase Payment in an amount of at least
<U>$2</U>^ 5,000^. If this Contract is
used in connection with a Qualified Plan, the Owner and Annuitant must be the same individual. If a
co-Annuitant is named, all distributions made while the Annuitant is alive must be made to the
Annuitant. Also, if a co-Annuitant is named who is not the Annuitant&#146;s spouse, the Annuity
Options which are available may be limited, depending on the difference in ages between the
Annuitant and co-Annuitant. Furthermore, the length of any Term may be limited in some
circumstances to satisfy certain minimum distribution requirements under the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Additionally, for Contracts issued in connection with Qualified Plans subject to the Employee
Retirement Income Security Act, the spouse or ex-spouse of the Owner will have rights in the
Contract. In such a case, the Owner may need the consent of the spouse or ex-spouse to a change
Annuity Options or make a withdrawal from the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, special rules apply to the time at which distributions must commence and the form in
which the distributions must be paid. For example, failure to comply with minimum distribution
requirements applicable to Qualified Plans will result in the imposition of an excise tax. This
excise tax generally equals 50% of the amount by which a minimum required distribution exceeds the
actual distribution from the Qualified Plan. In the case of Individual Retirement Accounts (&#147;IRAs&#148;)
(other than Roth IRAs), distributions of minimum amounts (as specified in the tax law) must
generally commence by April 1 of the calendar year following the calendar year in which the owner
attains age 70. In the case of certain other Qualified Plans, distributions of such minimum amounts
generally must commence by the later of this date or April 1 of the calendar year following the
calendar year in which the employee retires.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is also a 10% penalty tax on the taxable amount of any payment from certain Qualified
Contracts. (The amount of the penalty tax is 25% of the taxable amount of any payment received from
a &#147;SIMPLE retirement account&#148; during the 2-year period beginning on the date the individual first
participated in any qualified salary reduction agreement (as defined in the tax law) maintained by
the individual&#146;s employer.) There are exceptions to this penalty tax which vary depending on the
type of Qualified Plan. In the case of an IRA, including a &#147;SIMPLE IRA,&#148; exceptions provide that
the penalty tax does not apply to a payment (a)&nbsp;received on or after the date on which the owner
reaches age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>, (b)&nbsp;received on or after the owner&#146;s death or because of the owner&#146;s disability
(as defined in the tax law), or (c)&nbsp;made as a series of substantially equal periodic payments (not
less frequently than annually) for the life (or life expectancy) of the owner or for the joint
lives (or joint life expectancies) of the owner and designated beneficiary (as defined in the tax
law). These exceptions, as well as certain others not described herein, generally apply to taxable
distributions from other Qualified Plans (although, in the case of plans qualified under sections
401 and 403, exception &#147;c&#148; above for substantially equal periodic payments applies only if the
owner has separated from service). In addition, the penalty tax does not apply to certain
distributions from IRAs taken after December&nbsp;31, 1997 which are used for qualified first time home
purchases or for higher education expenses. Special conditions must be met to qualify for these two
exceptions to the penalty tax. In addition, the penalty tax does not apply to certain distributions
from IRAs that are used for first time home purchases or for higher education expenses, or for
distributions made to certain eligible individuals called to active duty after September&nbsp;11, 2001.
Special conditions must be met to qualify for these three exceptions to the penalty tax. If you
wish to take a distribution from an IRA for these purposes, you should consult your tax advisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When issued in connection with a Qualified Plan, a Contract will be amended as generally necessary
to conform to the requirements of the plan. <U>We will not amend a Contract, however, to permit
amounts to be held for both Roth and non-Roth accounts in the plan. The rights of any</U>
^ Owners, Annuitants, and Beneficiaries ^ to any benefits under Qualified Plans may be
subject to the terms and conditions of the plans themselves, regardless of the terms and conditions
of the Contract. In addition, we will not be bound by terms and conditions of Qualified Plans to
the extent such terms and conditions contradict the Contract, unless we consent.
</DIV>

<DIV align="left">
<A name="B86174156"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Qualified Plan Types</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Following are brief descriptions of various types of Qualified Plans in connection with which we
may issue a Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Individual Retirement Annuities. </B>Section&nbsp;408 of the Code permits eligible individuals to contribute
to an individual retirement program known as an IRA. IRAs are subject to limits on the amounts that
may be contributed and deducted, the persons who may be
</DIV>


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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">eligible and on the time when distributions
may commence. Also, distributions from certain qualified plans may be &#147;rolled over&#148; on a
tax-deferred basis into an IRA. The Contract may not be used in connection with an &#147;Education IRA&#148;
under Section&nbsp;530 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Simplified Employee Pensions (SEP-IRAs). </B>Section&nbsp;408(k) of the Code allows employers to establish
simplified employee pension plans for their employees, using the employees&#146; IRAs for such purposes,
if certain criteria are met. Under these plans the employer may, within specified limits, make
deductible contributions on behalf of the employees to IRAs. Employers intending to use the
Contract in connection with such plans should seek competent advice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SIMPLE IRAs. </B>Section&nbsp;408(p) of the Code permits certain small employers to establish &#147;SIMPLE
retirement accounts,&#148; including SIMPLE IRAs, for their employees. Under SIMPLE IRAs, certain
deductible contributions are made by both employees and employers. SIMPLE IRAs are subject to
various requirements, including limits on the amounts that may be contributed, the persons who may
be eligible, and the time when distributions may commence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Roth IRAs. </B>Section&nbsp;408A of the Code permits eligible individuals to contribute to a type of IRA
known as a &#147;Roth IRA.&#148; Roth IRAs are generally subject to the same rules as non-Roth IRAs, but
differ in certain respects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Among the differences are that contributions to a Roth IRA are not deductible and &#147;qualified
distributions&#148; from a Roth IRA are excluded from income. A qualified distribution is a distribution
that satisfies two requirements. First, the distribution must be made in a taxable year that is at
least five years after the first taxable year for which a contribution to any Roth IRA established
for the owner was made. Second, the distribution must be:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made after the owner attains age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made after the owner&#146;s death;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attributable to the owner being disabled; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a qualified first-time homebuyer distribution within the meaning of Section&nbsp;72(t)(2)(F) of
the Code.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, distributions from Roth IRAs need not commence when the owner attains age 70<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>. A Roth
IRA may accept a &#147;qualified rollover contribution&#148; from a non-Roth IRA and from an &#147;eligible
retirement plan&#148; that satisfies certain requirements specified in section 408A(e)(1)(B) of the
Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Corporate and Self-Employed (&#147;H.R. 10&#148; and &#147;Keogh&#148;) Pension and Profit-Sharing Plans. </B>Sections
401(a) and 403(a) of the Code permit corporate employers to establish various types of tax-favored
retirement plans for employees. The Self-Employed Individuals&#146; Tax Retirement Act of 1962, as
amended, commonly referred to as &#147;H.R. 10&#148; or &#147;Keogh,&#148; permits self-employed individuals also to
establish such tax-favored retirement plans for themselves and their employees. Such retirement
plans may permit the purchase of the Contract in order to provide benefits under the plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax-Sheltered Annuities. </B>Section&nbsp;403(b) of the Code permits public school employees and employees
of certain types of charitable, educational and scientific organizations specified in Section
501(c)(3) of the Code to have their employers purchase annuity contracts for them and, subject to
certain limitations, to exclude the amount of purchase payments from gross income for tax purposes.
These annuity contracts are commonly referred to as &#147;tax-sheltered annuities.&#148; Purchasers of the
Contracts for such purposes should seek competent advice as to eligibility, limitations on
permissible amounts of Purchase Payments and other tax consequences associated with the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;403(b) policies contain restrictions on withdrawals of (i)&nbsp;contributions made pursuant to a
salary reduction agreement in years beginning after December&nbsp;31, 1988, (ii)&nbsp;earnings on those
contributions, and (iii)&nbsp;earnings in such years on amounts held as of the last year beginning
before January&nbsp;1, 1989. These amounts can be paid only if the employee has reached age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>, had a
severance from employment, died, become disabled, or in the case of hardship. Amounts permitted to
be distributed in the event of hardship are limited to actual contributions; earnings thereon
cannot be distributed on account of hardship. Amounts subject to the withdrawal restrictions
applicable to Section&nbsp;403(b)(7) custodial accounts may be subject to more stringent restrictions.
(These limitations on withdrawals do not apply to the extent we are directed to transfer some or
all of the Account Value to the issuer of another tax-sheltered annuity or into a Section&nbsp;403(b)(7)
custodial account.)
</DIV>

<DIV align="left">
<A name="B86174157"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Direct Rollover Rules</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of Contracts used in connection with a pension, profit-sharing, or annuity plan
qualified under Sections 401(a) or 403(a) of the Code, or in the case of a Section 403(b) tax
sheltered annuity, any &#147;eligible rollover distribution&#148; from the contract will be subject to direct
rollover and mandatory withholding requirements. An eligible rollover distribution generally is any
taxable distribution from a qualified pension plan under Section 401(a) of the Code, qualified
annuity plan under Section 403(a) of the Code, or Section&nbsp;403(b)
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">tax sheltered annuity or custodial
account, excluding certain amounts (such as minimum distributions required under Section&nbsp;401(a)(9)
of the Code, distributions which are part of a &#147;series of substantially equal periodic payments&#148;
made for life or a specified period of 10&nbsp;years or more, and hardship distributions).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under these requirements, withholding at a rate of 20% will be imposed on any eligible rollover
distribution. In addition, the participant in these qualified retirement plans cannot elect out
of withholding with respect to an eligible rollover distribution. However, this 20% withholding
will not apply if, instead of receiving the eligible rollover distribution, the participant
elects to have
amounts directly transferred to certain qualified retirement plans (such as to an IRA). Before we
make an eligible rollover distribution, a notice will be provided explaining generally the direct
rollover and mandatory withholding requirements and how to avoid the 20% withholding by electing a
direct rollover.
</DIV>

<DIV align="left">
<A name="B86174158"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Federal Income Tax Withholding</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will withhold and remit to the U.S. government a part of the taxable portion of each
distribution made under a Contract unless (i)&nbsp;the distribution is not an eligible rollover
distribution and (ii)&nbsp;the distributee notifies us at or before the time of the distribution that he
or she elects not to have any amounts withheld. In certain circumstances, we may be required to
withhold tax. Except in the case of eligible rollover distributions, the withholding rates
applicable to the taxable portion of periodic annuity payments are the same as the withholding
rates generally applicable to payments of wages. Except in the case of eligible rollover
distributions, the withholding rate applicable to the taxable portion of non-periodic payments
(including withdrawals prior to the maturity date and rollovers from non-Roth IRAs to Roth IRAs) is
10%. As described above, the withholding rate applicable to eligible rollover distributions is 20%.
</DIV>






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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="B86174160"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VIII. General Matters
</DIV>

<DIV align="left">
<A name="B86174161"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Confirmation Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will send you confirmation statements for certain transactions in your account. You should
carefully review these statements to verify their accuracy and should immediately report any
mistake to our Annuities Service Center. If you fail to notify our Annuities Service Center of any
mistake within 60&nbsp;days of the mailing of the confirmation statement, you will be deemed to have
ratified the transaction.
</DIV>

<DIV align="left">
<A name="B86174162"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Legal Proceedings</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are no material pending legal proceedings, other than ordinary routine litigation, to
which John Hancock USA or any of our subsidiaries is a party or to which any of our or their
property is subject. To the best of our knowledge, no such proceedings are contemplated by any
governmental authority <U>or any other party</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For a description of legal proceedings to which MFC is a party, see &#147;Legal Proceedings&#148; in MFC&#146;s
Annual Information Form within MFC&#146;s Annual Report on Form&nbsp;40-F<U>/A</U> for the year ended
December&nbsp;31, <U>2010</U>^, as filed on March <U>25,
2011,</U>^ which is incorporated by reference in this prospectus and in the registration
statement of which this prospectus forms a part.
</DIV>

<DIV align="left">
<A name="B86174163"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Legal Opinions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The validity of the Contract Value Interests under deferred annuity Contracts and MFC Subordinated
Guarantee offered in this prospectus will be passed upon for us by Arnold R. Bergman, Esq., Vice
President and Annuities Chief Counsel, John Hancock USA. Certain matters regarding Canadian law
with respect to the MFC Subordinated Guarantee will be passed upon for MFC by Torys LLP, Toronto,
Canada. On the date of this prospectus, the partners and associates of Torys LLP own an aggregate
of approximately 22,000 MFC common shares.
</DIV>

<DIV align="left">
<A name="B86174164"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Experts</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The consolidated financial statements of MFC as at December&nbsp;31, <U>2010 and 2009, and for the
years then ended, included in MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31,
20^ 10, filed with the SEC on March&nbsp;18, 2011, and the amended
consolidated financial statements of MFC as at December&nbsp;31,</U> 2009 and 2008, and for the years
then ended, included in MFC&#146;s Annual Report on Form 40-F^ ,
filed with the SEC on March <U>19</U>^ , 2010,
which are incorporated by reference in this prospectus and in the registration statement of which
this prospectus forms a part, have been audited by Ernst &#038; Young LLP, Toronto, Canada, an
independent registered public accounting firm, as set forth in their reports thereon, included
<U>and incorporated herein and</U> therein by reference. Such consolidated financial statements
are incorporated herein by reference in reliance upon such reports given on
the^authority <U>of such firm</U> as experts in accounting and
auditing.
</DIV>

<DIV align="left">
<A name="B86174165"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Notices and Reports to Contract Owners</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At least once each Contract Year, we will send you a statement showing the Account Value of the
Contract as of the date of the statement. The statement will also show Purchase Payments and
any other information required by any applicable law or regulation.
</DIV>

<DIV align="left">
<A name="B86174166"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Contract Owner Inquiries</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You should direct all inquiries to our Annuities Service Center at 164 Corporate Drive, Portsmouth,
New Hampshire 03801.
</DIV>






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<DIV align="left">
<A name="B86174167"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;A: How Interest is Credited
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Declared Interest Rate is declared by us and will be shown on the Contract specifications
page. At each Contract Anniversary, we will determine the Indexed Crediting Rate applicable for the
following Contract Year based on the year-over-year change in the CPI-U as determined three months
prior to the Contract Anniversary and adjusted by a Guaranteed Margin. The Indexed Crediting Rate
will never fall below the Floor Rate ^ or be greater than the Rate Cap
^ as demonstrated in
example<B>^</B> s<B>^ </B> B and
C<B>^ </B> below. The Indexed Crediting Rate will be applied on a daily basis,
which, if compounded daily for one year, would equal the applicable Indexed Crediting Rate
determined for that year. The Guaranteed Margin will be shown on the specifications page, remains
constant for the selected Term, and <U><B>could</B></U>^<B> be a negative
value</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will reference the CPI-U as published three months previous to determining the Indexed Crediting
Rate. The CPI-U is available approximately mid-month every month and calculated based upon the
previous <U>month&#146;s</U>^ values.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following examples assume that the current date is April&nbsp;10, 2010. To set the Indexed Crediting
Rate as of April&nbsp;10, 2010, we would look to the CPI-U that was available on February&nbsp;19, 2010,
reflecting January&nbsp;2010 values. This may be referred to as a &#147;3&nbsp;month look-back,&#148; (April to
January). If today is instead April&nbsp;20^ 2010 and
we are setting rates, we would still look to the CPI-U that was available on February&nbsp;19, 2010,
rather than referencing the CPI-U available on April&nbsp;18, 2010. Therefore, any day in April would be
using the CPI-U from January that was released in February.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Indexed Crediting Rate Formula</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following formula represents that at the beginning of each Contract Anniversary within any
selected Term, the Indexed Crediting Rate (<I>R</I><SUB style="FONT-size: 85%; vertical-align: text-bottom">t</SUB>) for each year of the Term (<I>t</I>) would be
the greater of the Indexed Crediting Rate as determined using the CPI-U plus the Guaranteed Margin
(<I>M</I>), or the Floor Rate^ , and the lesser of the Indexed Crediting Rate
or the Rate Cap ^.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617401.gif" alt="(FORMULA)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>R</I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>t</I></SUB> may not be less than the Floor Rate &#091;nor greater than the Rate Cap&#093;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Where:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt; margin-left: 25%">R<SUB style="FONT-size: 85%; vertical-align: text-bottom">t</SUB> = Indexed Crediting Rate applicable for the following year<BR>
CPI<SUB style="FONT-size: 85%; vertical-align: text-bottom">t</SUB> = the CPI-U value from 3&nbsp;months prior to the rate determination date.<BR>
CPI<SUB style="FONT-size: 85%; vertical-align: text-bottom">t-1</SUB> = the CPI-U value 1&nbsp;year prior to CPI<SUB style="FONT-size: 85%; vertical-align: text-bottom">t</SUB><BR>
M = the Guaranteed Margin
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">^ <B>Example A. ^Determining the Indexed Crediting Rate</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ If the
CPI-U value <U>three</U>^ months prior to the rate
determination date is 200, the prior year&#146;s CPI-U value is 195, and the Guaranteed Margin is 0.50%,
then the Indexed Crediting Rate before the Floor Rate&#091;and Rate Cap&#093;is applied would be:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617402.gif" alt="(FORMULA)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3.06% is greater than the Floor Rate, &#091;and less than the Rate Cap&#093;, so the Indexed Crediting Rate
for the Contract Year is <B>3.06%</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"> ^</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example B Impact of Rate Floor on Indexed Crediting Rate</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#091;If
the CPI-U value <U>three</U>^ months prior to the rate
determination date is 190, the prior year&#146;s CPI-U value is 200, the Rate Cap is 8%, and the
Guaranteed Margin is 0.50%, then the Indexed Crediting Rate before the Rate Floor and Rate Cap are
applied would be:
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617404.gif" alt="(FORMULA)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Because -4.50% is less than the 0% Rate Floor, the Indexed Crediting Rate for the Contract Year is <B>0%</B>.&#093;
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">^ <B>Example C&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact of Rate Cap on Indexed Crediting Rate</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ &#091;If
the CPI-U value <U>three</U>^ months prior to the rate
determination date is 220, the prior year&#146;s CPI-U value is 200, the Rate Cap is 8%, and the
Guaranteed Margin is 0.50%, then the Indexed Crediting Rate before the Rate Floor and Rate Cap are
applied would be:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b86174a2b8617405.gif" alt="(FORMULA)"><BR>
<BR>
^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Because
<U>11.03</U>^ % is greater than the 8% Rate Cap, the
Indexed Crediting Rate for the Contract Year is <B>8%&#093;</B>
</DIV>



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</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left">
<A name="B86174168"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;B: Examples of Market Value Adjustment Calculations
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example 1: Request for Total Withdrawal with Negative MVA</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contract issue date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9/15/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Term Selected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" align="right">5 year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed Margin in effect for Current Term</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal occurs at the end of year 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Account Value at time of Withdrawal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,812</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Guaranteed Margin on a new 3-yr CPI-U MVA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.71</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.25</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal Charge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
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    <TD width="3%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Guaranteed</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Beginning</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Margin in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Interest</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">CPI- U</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Effect for</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Index<U>ed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Earned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Account</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Percentage</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crediting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Over The</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Value</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Change</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Term</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">MVA</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Charge</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.30</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.97</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.40</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,512</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,812</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,618</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,231</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">97,963</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2012</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2013</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2014</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2015</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 1</B>: We first determine the portion of the gross withdrawal request that is subject
to a Market Value Adjustment and withdrawal charges. Since a total withdrawal of Account
Value was requested, the <U>Free Withdrawal Amount of</U> ^ $3,512 is subtracted from the total amount of the Account
Value of $106,812. The <U>Free Withdrawal Amount</U>^ is equal to the prior 12&nbsp;months of interest earned. The <U>Gross
Withdrawal Amount</U>^ subject to Market Value Adjustment and withdrawal
charges in this case is $103,300.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 2</B>: We next determine the amount of the Market Value Adjustment. In this example, the
Guaranteed Margin we assume to be in effect for the Contract (0.43%) is lower than the
Guaranteed Margin we assume to be offering for the remaining duration of the Term (0.71% for
a new 3&nbsp;year Term). The resulting Market Value Adjustment factor of 0.98433 would reduce the
amount payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See below for MVA factor formula:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617407.gif" alt="(EQUATION)">

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>withdrawal</I></SUB> is the Guaranteed Margin offered on a Term equal to the number of months
remaining in the current Term, as of the date the withdrawal
request is processed. For purposes of this calculation, months remaining will be rounded up to the
next nearest whole month
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">n is the number of whole months remaining in the current Term, rounded up to nearest whole month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">k is the adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the <U>Gross Withdrawal
Amount</U> ^ that is subject to a
Market Value Adjustment ($103,300) by the Market Value Adjustment factor of 0.98433, which
produces a result of $101,682. The amount of Market Value Adjustment is the difference
between $101,682 and $103,300, or a negative $1,618.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 3</B>: We next determine the amount of withdrawal charge. To do this, we multiply the <U>Gross
Withdrawal Amount</U>^ that is
subject to a withdrawal charge of $103,300 by the 7% withdrawal charge to produce a
withdrawal charge of $7,231.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 4</B>: Next apply the Market Value Adjustment and subtract the withdrawal charge from the
<U>Gross Withdrawal Amount.</U> ^ This
results in a net amount payable of $97,963 ($106,812- $1,618 &#151; $7,231), assuming that no
amount is withheld for taxes. The Contract is then terminated.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example 2: Request for Total Withdrawal with Positive MVA</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contract issue date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9/15/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Term Selected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" align="right">5 year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed Margin in effect for Current Term</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal occurs at the end of year 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Account Value at time of Withdrawal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,812</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Guaranteed Margin on a new 3-yr CPI-U MVA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.10</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.25</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal Charge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Guaranteed</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Beginning</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Margin in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Interest</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">CPI- U</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Effect for</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Index<U>ed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Earned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Account</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Percentage</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crediting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Over The</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Value</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Change</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Term</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">MVA</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Charge</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.43</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.30</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,300</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2011
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">103,300</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.97</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.43</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.40</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,512</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">106,812</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">247</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,231</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99,828</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2012</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2013</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2014</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9/15/2015</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 1</B>: We first determine the portion of the gross withdrawal request that is subject
to a Market Value Adjustment and withdrawal charges. Since a total withdrawal of Account
Value was requested, the <U>Free Withdrawal Amount of</U> ^ $3,512 is subtracted from the total amount of the
Account Value of $106,812.
The Free Withdrawal Amount^ is equal to the prior 12&nbsp;months of interest
earned. The <U>Gross Withdrawal Amount</U>^
subject to Market Value Adjustment and withdrawal charges in this case is $103,300.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 2</B>: We next determine the amount of the Market Value Adjustment. In this example, the
Guaranteed Margin we assume to be in effect for the Contract (0.43%) is higher than the
Guaranteed Margin we assume to be offering for the remaining duration of the Term (0.1% for a
new 3&nbsp;year Term). The resulting Market Value Adjustment factor of 1.00239 increases the
amount payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See below for MVA factor formula:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617408.gif" alt="(EQUATION)">

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>withdrawal</I></SUB> is the Guaranteed Margin offered on a Term equal to the number of months
remaining in the current Term, as of the date the withdrawal
request is processed. For purposes of this calculation, months remaining will be rounded up to the
next nearest whole month
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">n is the number of whole months remaining in the current Term, rounded up to nearest whole month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">k is the adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the <U>Gross Withdrawal
Amount</U> ^ that is subject to a Market
Value Adjustment ($103,300) by the Market Value Adjustment factor of 1.00239, which produces
a result of $103,547. The amount of Market Value Adjustment is the difference between
$103,547 and $103,300, or a positive $247.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 3</B>: We next determine the amount of withdrawal charge. To do this, we multiply the <U>Gross
Withdrawal Amount</U>^ that is subject to a
withdrawal charge of $103,300 by the 7% withdrawal charge to produce a withdrawal charge of
$7,231.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 4</B>: Next apply the Market Value Adjustment and subtract the withdrawal charge from the
<U>Gross Withdrawal Amount.</U> ^ This results in
a net amount payable of $99,828 ($106,812&#043; $247 &#151; $7,231), assuming that no amount is withheld
for taxes. The Contract is then terminated.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example 3: Request for Gross Partial Withdrawal with Inflation all years</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contract issue date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9/15/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Term Selected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" align="right">5 year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed Margin in effect for Current Term</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross </B>Withdrawal occurs at the end of year 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Guaranteed Margin on a new 3-yr CPI-U MVA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.71</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.25</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal Charge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 0px solid #000000"></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Guaranteed</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Beginning</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Margin in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Interest</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">CPI- U</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Effect for</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Index<U>ed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Earned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Account</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Percentage</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crediting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Over The</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Value</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Change</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Term</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">MVA</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Charge</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.30</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.97</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.40</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,512</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(337</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,504</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2012</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,812</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.99</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.42</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2013</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">85,424</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.08</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.51</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,140</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2014</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87,565</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.28</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.71</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2015</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">91,689</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 1</B>: We first determine the portion of the partial withdrawal request that is subject
to a Market Value Adjustment and withdrawal charges. For a &#145;gross&#146; partial withdrawal
request, the <U>Free Withdrawal Amount of</U> ^ $3,512 is subtracted from the total amount of the request $25,000. The Free
Withdrawal Amount<U>^</U> is equal to the prior 12&nbsp;months of interest earned.
The <U>Gross Withdrawal Amount</U>^ subject to
Market Value Adjustment and withdrawal charges in this case is $21,488.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 2</B>: We next determine the amount of the Market Value Adjustment. In this example, the
Guaranteed Margin we assume to be in effect for the Contract (0.43%) is lower than the
Guaranteed Margin we assume to be offering for the remaining duration of the Term (0.71% for
a new 3&nbsp;year Term). The resulting Market Value Adjustment factor of 0.98433 would reduce the
amount payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See below for MVA factor formula:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617409.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>withdrawal</I></SUB> is the Guaranteed Margin offered on a Term equal to the number of months
remaining in the current Term, as of the date the withdrawal
request is processed. For purposes of this calculation, months remaining will be rounded up to the
next nearest whole month
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">n is the number of whole months remaining in the current Term, rounded up to nearest whole month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">k is the adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the <U>Gross Withdrawal
Amount</U> ^ that is subject to a Market
Value Adjustment ($21,488) by the Market Value Adjustment factor of 0.98433, which produces
a result of $21,151. The amount of Market Value Adjustment is the difference between $21,151
and $21,488, or a negative $337.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 3</B>: We next determine the amount of withdrawal charge.
To do this, we multiply the <U>Gross Withdrawal Amount</U>^ that is subject to a withdrawal charge of $21,488 by the 7% withdrawal
charge to produce a withdrawal charge of $1,504.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 4</B>: Next apply the Market Value Adjustment and subtract the withdrawal charge from the
<U>Gross Withdrawal Amount.</U> ^ This results in
a net amount payable of $23,159 ($25,000 &#151; $337 &#151; $1,504), assuming that no amount is withheld
for taxes. The remaining Account Value is $81,812 ($25,000 was deducted) and the Contract
remains in force.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example 4: Request for Gross Partial Withdrawal with Inflation and Deflation</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contract issue date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9/15/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Term Selected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" align="right">5 year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed Margin in effect for Current Term</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Gross </B>Withdrawal occurs at the end of year 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Guaranteed Margin on a new 3-yr CPI-U MVA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.71</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.25</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal Charge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Guaranteed</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Beginning</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Margin in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Interest</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">CPI- U</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Effect for</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Index<U>ed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Earned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Account</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Percentage</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crediting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Over The</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Value</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Change</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Term</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">MVA</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Charge</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.30</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-2.20</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(392</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,858</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2012</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.99</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.42</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,457</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2013</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,757</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-0.24</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.19</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2014</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,913</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.28</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.71</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,858</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2015</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">85,771</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 1</B>: We first determine the portion of the partial withdrawal request that is subject
to a Market Value Adjustment and withdrawal charges. For a &#145;gross&#146; partial withdrawal
request, the <U>Free Withdrawal Amount of</U> ^ $0 is subtracted from the total amount of the request
$25,000. The <U>Free
Withdrawal Amount</U>^ is equal to the prior 12&nbsp;months of interest earned,
and in this case there was no interest earned, because the 0% floor was reached. The <U>Gross
Withdrawal Amount</U>^ subject to Market Value
Adjustment and withdrawal charges in this case is $25,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 2</B>: We next determine the amount of the Market Value Adjustment. In this example, the
Guaranteed Margin we assume to be in effect for the Contract (0.43%) is lower than the
Guaranteed Margin we assume to be offering for the remaining duration of the Term (0.71% for
a new 3&nbsp;year Term). The resulting Market Value Adjustment factor of 0.98433 would reduce the
amount payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See below for MVA factor formula:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617410.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>withdrawal</I></SUB> is the Guaranteed Margin offered on a Term equal to the number of months
remaining in the current Term, as of the date the withdrawal
request is processed. For purposes of this calculation, months remaining will be rounded up to the
next nearest whole month
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">n is the number of whole months remaining in the current Term, rounded up to nearest whole month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">k is the adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the <U>Gross Withdrawal
Amount</U> ^ that is subject to a Market
Value Adjustment ($25,000) by the Market Value Adjustment factor of 0.98433, which produces
a result of $24,608. The amount of Market Value Adjustment is the difference between
$24,608 and $25,000, or a negative $392.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 3</B>: We next determine the amount of withdrawal charge. To do this, we multiply the
<U>Gross Withdrawal Amount</U>^ that is subject
to a withdrawal charge of $25,000 by the 7% withdrawal charge to produce a withdrawal
charge of $1,750.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 4</B>: Next apply the Market Value Adjustment and subtract the withdrawal charge from the
<U>Gross Withdrawal Amount.</U> ^ This results in
a net amount payable of $22,858 ($25,000 &#151; $392 &#151; $1,750), assuming that no amount is
withheld for taxes. The remaining Account Value is $78,300 ($25,000 was deducted) and the
Contract remains in force.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^</div>




<P align="center" style="font-size: 10pt"><!-- Folio -->B-4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Example 5: Request for Net Partial Withdrawal</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contract issue date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9/15/2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Term Selected</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" align="right">5 year</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed Margin in effect for Current Term</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net</B> Withdrawal occurs at the end of year 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Guaranteed Margin on a new 3-yr CPI-U MVA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.71</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.25</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Withdrawal Charge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Guaranteed</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Beginning</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Margin in</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Interest</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Gross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Net</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">CPI- U</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Effect for</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Index<U>ed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Earned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Account</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Percentage</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Current</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Crediting</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Over The</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Withdrawal</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(End Of</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Value</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Change</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Term</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rate</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">MVA</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Charge</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.30</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.97</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.40</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,512</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,013</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(368</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,645</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2012</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79,799</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.99</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.42</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,523</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2013</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83,322</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.08</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.51</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,088</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2014</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">85,410</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.28</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.43</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.71</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9/15/2015</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89,433</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 1</B>: We will calculate a <U>Gross Withdrawal Amount</U>
 ^ that is large enough to cover any applicable Market
Value Adjustment and withdrawal charge so that the requested net amount is received.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617412.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this example,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617413.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 2</B>: We then determine the portion of the partial withdrawal request that is subject to a
Market Value Adjustment and withdrawal charges. We subtract from the Gross Withdrawal Amount
calculated above ($27,013) the <U>Free Withdrawal Amount</U>^ of
$3,512. The <U>Free Withdrawal Amount</U>^ is equal to the prior 12&nbsp;months of interest earned.
The <U>Gross Withdrawal Amount</U>^
subject to Market Value Adjustment and withdrawal charges in this case is $23,501.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 3</B>: We next determine the amount of the Market Value Adjustment. In this example, the
Guaranteed Margin we assume to be in effect for the Contract (0.43%) is lower than the
Guaranteed Margin we assume to be offering for the remaining duration of the Term (0.71% for
a new 3&nbsp;year Term). The resulting Market Value Adjustment factor of 0.98433 would reduce the
amount payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See below for MVA factor formula:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">^ </div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617414.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>withdrawal</I></SUB> is the Guaranteed Margin offered on a Term equal to the number of months
remaining in the current Term, as of the date the withdrawal
request is processed. For purposes of this calculation, months remaining will
be rounded up to the next nearest whole month <BR>
<BR style="font-size: 6pt">
n is the number of whole months
remaining in the current Term, rounded up to nearest whole month. <BR>
<BR style="font-size: 6pt">k is the
adjustment factor.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>We determine the amount of the Market Value Adjustment by multiplying the Gross Withdrawal Amount
that is subject to a Market Value Adjustment
($23,501) by the Market Value Adjustment factor of 0.98433, which produces a result of
$23,133. The amount of Market Value Adjustment is the difference between $23,133 and $23,501,
or a negative $368.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Step 4</B>: We next determine the amount of withdrawal charge. To do this, we multiply the Gross
Withdrawal Amount that is subject to a withdrawal charge of $23,501 by the 7% withdrawal
charge to produce a withdrawal charge of $1,645.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Step 5</B>: Next apply the Market Value Adjustment and subtract the withdrawal charge from the
Gross Withdrawal Amount. This results in a net amount payable of $25,000 ($27,013 &#151; $368 -
$1,645), assuming that no amount is withheld for taxes. The remaining Account Value is
$79,799 ($27,013 was deducted) and the Contract remains in force.</U>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->B-6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Example
6: Request for Gross Partial Withdrawal with Cap</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>Contract
issue date:</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>9/15/2010</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><U>Cap</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.0</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>Premium</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>100,000</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center"><U>Floor</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>8.0</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>Term
Selected</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" nowrap align="right"><U>5 year</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>Guaranteed Margin in effect for Current Term</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U><B>Gross
</B>Withdrawal occurs at the end of year 2</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>25,000</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><U>The
Guaranteed Margin on a new 3-yr CPI-U MVA</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.71</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>Adjustment factor</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.25</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>Withdrawal Charge</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>7.00</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><U>Withdrawal</U></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Guaranteed</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Beginning</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Margin in</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Interest</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Gross</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Net</U></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>of Year</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>CPI- U</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Effect for</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Indexed</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Earned</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Withdrawal</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Withdrawal</U></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Account</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Percentage</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Current</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Crediting</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Over The</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>(End Of</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>Withdrawal</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><U>(End Of</U></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="left" style="border-bottom: 1px solid #000000"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Value</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Change</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Term</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Rate</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Year</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Year)</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>MVA</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Charge</U></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><U>Year)</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2010</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>100,000</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>3.30</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>3,300</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2011</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>103,300</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>8.20</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>8.00</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>8,264</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>25,000</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>(262</U></TD>
    <TD nowrap><U>)</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1,172</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>23,566</U></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2012</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>86,564</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>3.99</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>4.42</U></TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>3,826</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2013</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>90,390</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>7.84</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>8.00</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>7,231</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2014</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>97,621</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>4.28</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>0.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><U>4.71</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>4,598</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><U>9/15/2015</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>102,219</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Step 1</B>: We first determine the portion of the partial withdrawal request that
is subject to a Market Value Adjustment and withdrawal charges. For a &#145;gross&#146;
partial withdrawal request, the Free Withdrawal Amount of $8,264 is subtracted
from the total amount of the request $25,000. The Free Withdrawal Amount is
equal to the prior 12&nbsp;months of interest earned, and in this case the interest
earned is 8% because the 8% cap was reached. The Gross Withdrawal Amount
subject to Market Value Adjustment and withdrawal charges in this case is
$16,736.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Step 2</B>: We next determine the amount of the Market Value Adjustment. In this
example, the Guaranteed Margin we assume to be in effect for the Contract
(0.43%) is lower than the Guaranteed Margin we assume to be offering for the
remaining duration of the Term (0.71% for a new 3&nbsp;year Term). The resulting
Market Value Adjustment factor of 0.98433 would reduce the amount payable.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>See below for MVA factor formula:</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b86174a2b8617415.gif" alt="(EQUATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom"><I>issue</I></SUB> is the Guaranteed Margin in effect for current Term
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>M </I><SUB style="FONT-size: 85%; vertical-align: text-bottom">withdrawal</SUB> is the Guaranteed Margin offered on a Term equal to the number of
months remaining in the current Term, as of the date the withdrawal request is processed. For
purposes of this calculation, months remaining will be rounded up to the next nearest whole
month
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">n is the number of whole months remaining in the current Term, rounded up to nearest whole month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">k is the adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the <U>Gross Withdrawal
Amount</U> ^ amount that is subject to a Market Value
Adjustment (<U>$16,736</U>^) by the Market Value Adjustment factor of
0.98433, which produces a result of <U>$16,474.</U>^. The amount of
Market Value Adjustment is the difference between <U>$16,474</U>^ and
<U>$16,736</U>^ , or a negative <U>$262.</U>^
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step 34</B>: We next determine the amount of withdrawal charge. To do this, we multiply the
<U>Gross Withdrawal Amount</U>^ that is subject
to a withdrawal charge of <U>$16,736</U>^ by the 7% withdrawal
charge to produce a withdrawal charge of <U>$1,172.</U>^.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Step
</B><U><B>4</B></U>^: Next apply the Market Value Adjustment and subtract
the withdrawal charge from the <U>Gross Withdrawal Amount.</U>^. This results in a net amount payable of $23,566 ($25,000 -
<U>$262</U>^ -
<U>$1,172</U>^ ), assuming that no amount is withheld for taxes.
The remaining Account Value is <U>$86,564 (</U><U>$25,000</U>^ was deducted) and the Contract remains in force.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->B-7<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left">
<A name="B86174169"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;C: Withdrawal Charge Schedule
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">^<B>APPLICABLE TO ACCOUNT VALUE DURING THE INITIAL TERM:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="39" style="border-bottom: 1px solid #000000">CONTRACT/CERTIFICATE YEAR AT TIME OF WITHDRAWAL</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">TERM</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">9</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">10</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APPLICABLE TO ACCOUNT VALUE DURING ANY SUBSEQUENT TERM:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="39">NUMBER OF COMPLETE YEARS SINCE THE COMMENCEMENT OF THE SUBSEQUENT TERM</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="39" style="border-bottom: 1px solid #000000">AT THE TIME OF WITHDRAWAL</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">TERM</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">0</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">9</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->C-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left">
<A name="B86174170"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;D: Historical rates for CPI and S&#038;P
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Year
over Year change in CPI-U and S&#038;P 500 Indices since 1950</U>^<BR>^

</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->D-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
<U><I>Using January values of each year</I></U>

</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="19%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>S&#038;P 500</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>S&#038;P 500</U></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>CPI Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>CPI Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year over</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year over</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year over</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year over</U></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>CPI</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>S&#038;P 500</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>CPI</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>S&#038;P 500</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B><U>Year</U></B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="left" style="border-bottom: 1px solid #000000"><B><U>Month</U></B></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>% Change</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>% Change</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>Month</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>% Change</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>Index</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B><U>% Change</U></B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">

<TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1950</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>23.50</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>8.09</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>17.05</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>27.04</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1981</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>87.00</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>8.39</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>129.55</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-7.06</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1951</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>25.40</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.33</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>21.66</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.45</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1982</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>94.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.71</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>120.40</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>20.68</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1952</U></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.50</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.38</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>24.14</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>9.28</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><U>1/31/1983</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>97.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.19</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>145.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>12.46</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1953</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.13</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.38</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-1.14</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><U>1/31/1984</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>101.90</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.53</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>163.41</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>9.93</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1954</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.90</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-0.74</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.08</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>40.45</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1985</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>105.50</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.89</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>179.63</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>17.90</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1955</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.37</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>36.63</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>19.63</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1986</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>109.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.46</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>211.78</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>29.42</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1956</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>26.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.99</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>43.82</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.05</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1987</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>111.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.05</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>274.08</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-6.21</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1957</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>27.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.62</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>44.72</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-6.75</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1988</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>115.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.67</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>257.07</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>15.72</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1958</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>28.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.40</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>41.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>32.90</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1989</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>121.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>5.20</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>297.47</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>10.63</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1959</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>29.00</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.03</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>55.42</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.34</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1990</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>127.40</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>5.65</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>329.08</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.51</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1960</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>29.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.71</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>55.61</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.10</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1991</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>134.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.60</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>343.93</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>18.86</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1961</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>29.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.67</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>61.78</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.43</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1992</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>138.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.26</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>408.79</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>7.34</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1962</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30.00</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.33</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>68.84</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-3.83</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1993</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>142.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.52</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>438.78</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>9.76</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1963</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30.40</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.64</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>66.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>16.37</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1994</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>146.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.80</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>481.61</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-2.32</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1964</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>30.90</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.97</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>77.04</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>13.66</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1995</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>150.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.73</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>470.42</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>35.20</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1965</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>31.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.92</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>87.56</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>6.08</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1996</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>154.40</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.04</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>636.02</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>23.61</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1966</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>31.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.46</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>92.88</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-6.75</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1997</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>159.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.57</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>786.16</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>24.69</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1967</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>32.90</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.65</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>86.61</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>6.50</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1998</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>161.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.67</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>980.28</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>30.54</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1968</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>34.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.40</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>92.24</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.68</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/1999</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>164.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.74</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1279.64</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>8.97</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1969</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>35.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>6.18</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>103.01</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-17.46</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2000</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>168.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.73</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1394.46</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-2.04</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1970</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>37.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>5.29</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>85.02</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>12.77</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2001</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>175.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.14</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1366.01</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-17.26</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1971</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>39.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.27</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>95.88</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>8.41</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2002</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>177.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.60</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1130.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-24.29</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1972</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>41.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.65</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>103.94</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.63</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2003</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>181.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.93</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>855.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>32.19</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1973</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>42.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>9.39</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>116.03</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-16.77</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2004</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>185.20</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.97</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1131.13</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.43</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1974</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>46.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.80</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>96.57</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-20.29</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2005</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>190.70</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>3.99</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1181.27</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>8.36</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1975</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>52.10</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>6.72</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>76.98</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>31.02</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B><U>1/31/2006</U></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>198.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.08</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1280.08</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>12.36</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1976</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>55.60</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>5.22</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>100.86</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.16</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2007</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>202.42</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>4.28</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1438.24</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-4.15</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1977</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>58.50</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>6.84</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>102.03</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-12.53</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2008</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>211.08</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>0.03</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1378.55</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="right"><U>-40.09</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1978</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>62.50</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>9.28</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>89.25</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.97</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2009</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>211.14</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>2.63</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>825.88</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>30.03</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1979</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>68.30</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>13.91</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>99.93</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>14.24</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2010</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>216.69</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>1.63</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1073.87</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>19.76</U></TD>
    <TD nowrap><U>%</U></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><U>1/31/1980</U></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>77.80</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>11.83</U></TD>
    <TD nowrap><U>%</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>114.16</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><U>13.48</U></TD>
    <TD nowrap><U>%</U></TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U><B><U>1/31/2011</U></B></U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>220.22</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><U>1286.12</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>The
US Consumer Price Index &#151; All Urban Consumers (CPI-U) &#151; is
compiled monthly by the U.S. Bureau of Labor Statistics</U></B>
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->D-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="B86174171"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;E: State Premium Taxes
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Premium taxes vary according to the state and are subject to change. In many jurisdictions
there is no tax at all. For current information, a tax advisor should be consulted.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 0px solid #000000"><B>TAX RATE</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>QUALIFIED</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>NONQUALIFIED</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>STATE</B><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>CONTRACTS</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>CONTRACTS</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CALIFORNIA </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.35</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">MAINE<SUP style="FONT-size: 85%; vertical-align: text-top">2</SUP> </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NEVADA </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.50</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PUERTO RICO </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SOUTH DAKOTA<SUP style="FONT-size: 85%; vertical-align: text-top">2</SUP> </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.25</TD>
    <TD nowrap>%<SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">TEXAS<SUP style="FONT-size: 85%; vertical-align: text-top">4</SUP> </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WEST VIRGINIA </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WYOMING </DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based on the state of residence at the time the tax is assessed.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">2</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Premium tax paid upon receipt of Purchase Payment (no tax at annuitization if tax paid
on Purchase Payment at issue).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>0.80% on Purchase Payments in excess of $500,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">4</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Referred to as a &#147;maintenance&#148; tax.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->E-1<!-- /Folio -->
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
