Transamerica Insurance & Investment Group to Offer New Variable Universal Life Products.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Feb. 16, 2001

Capitalizing on its position as the country's third largest provider of universal life insurance (a), Transamerica Insurance & Investment Group (TIIG) has expanded its product portfolio to introduce the first of two proprietary variable universal life (VUL) insurance products.

Available immediately in most states, TransSurvivor(SM) Life VUL is a "second-to-die" product, underwritten by Transamerica Occidental Life Insurance Co., that offers life insurance coverage for two lives and pays a death benefit upon the death of the second insured.

TransSurvivor(SM) Life VUL leverages Transamerica Occidental Life's extensive survivorship life insurance experience, including the company's underwriting expertise. The variable component of the insurance policy provides the potential for tax-deferred cash accumulation through a variety of investment options.

"The introduction of TransSurvivor(SM) Life VUL signals our firm commitment to the variable universal life insurance marketplace," said Bill Tate, Transamerica Insurance & Investment Group's senior vice president and chief marketing officer.

"Service support for this product, as well as future products," Tate explained, "will be handled in our comprehensive operations unit located in Kansas City, Missouri. We feel one-stop shopping is essential when it comes to delivering the top-notch service that is so critical in the variable life arena. And producers and agencies have come to expect superior service from Transamerica."

In May 2001, the company will introduce a single life variable universal life insurance product, TransUltra(R) VUL, which is based on Transamerica's highly successful fixed universal life product. Both variable universal life insurance products -- TransSurvivor(SM) Life VUL and TransUltra(R) VUL -- will be issued and administered by Transamerica Occidental Life and will offer the company's "intelligently aggressive" underwriting.

Transamerica's large-case underwriting unit, known as "Underwriting XL(SM)," will provide extensive expertise with large, complex cases.

Tate adds that both products will be marketed by Transamerica's general agency system, its NASD-registered broker/dealer Transamerica Financial Resources Inc., and to other broker/dealers and wirehouses. Marketing support will be provided via three regional marketing centers and TIIG's home office in Los Angeles.

TransSurvivor(SM) Life VUL, currently approved for sale in 30 states, offers 19 sub-account investment options for potential policy value growth -- including domestic and international equity sub-accounts, bond sub-accounts, and a money market sub-account -- which are managed by some of the most highly regarded investment advisers in the industry, including Fred Alger Management Inc., Alliance Capital Management L.P., The Dreyfus Corp., Janus, MFS Investment Management(R), Morgan Stanley Asset Management, Miller Anderson & Sherrerd LLP, OpCap Advisors, PIMCO, and Transamerica Investment Management, LLC.

The death benefit, which is normally income-tax free, is payable upon the death of the second insured without the delays or costs associated with probate.

TransSurvivor(SM) Life VUL offers such features as:

-- Dollar Cost Averaging (b), which helps eliminate the guesswork of investment
timing by making transfers from the money-market sub-account to other
sub-accounts on regularly scheduled dates;

-- Automatic Account Rebalancing (b), which rebalances investment option values
to pre-set percentages when performance causes those values to vary over time;
and

-- 18 Transfers each policy year, which can be made between sub-accounts
without incurring a transfer fee.

Other available options and riders (c) enable the policy owner to:

-- Choose among three death benefit options;

-- Provide a guaranteed death benefit during the first 20 policy

years, regardless of investment performance;

-- Allow the policy to be split into two individual fixed

policies under certain conditions; and

-- Provide four-year level term insurance to cover the risk of

having death benefits included in the estate under certain

conditions.

Consumers who wish to obtain a current TransSurvivor(SM) Life VUL prospectus, which contains details about investment options and all charges, expenses and risk factors, should call 1-800-PYRAMID.

Registered representatives who wish to sell TransSurvivor(SM) Life VUL should contact one of three Transamerica Regional Marketing Centers -- Western Region: 888/862-1936; Central Region: 888/217-6879; or Eastern Region: 888/558-8743.

TransSurvivor(SM) Life VUL is marketed by Transamerica Insurance & Investment Group, distributed by Transamerica Securities Sales Corp., and issued by Transamerica Occidental Life Insurance Co.

Transamerica Insurance & Investment Group offers an array of innovative financial services and products designed to help individuals, families and businesses build, protect and preserve their assets. TIIG markets products underwritten by companies that are members of the AEGON Insurance Group, an international insurance organization with headquarters in The Hague, The Netherlands.

The AEGON Insurance Group is one of the top 10 life insurance and financial services organizations in the world.

Note (a): As of Dec. 31, 1999 Transamerica Occidental Life Insurance Co. was ranked number three in amount of Universal Life Insurance in-force, with $66.2 billion. Source: "Best Sales Studies," "Life Sales Results, 2000 Edition" AM Best Publisher.

Note (b): Dollar cost averaging involves continuous investment in securities regardless of fluctuating price levels of such securities. Investors should consider their financial ability to continue purchases through periods of low price levels. Dollar cost averaging and automatic account rebalancing do not assure a gain nor protect against a loss in a declining market.

Note (c): Riders may not be available in all states.

http://www.transamerica.com.

TransSurvivor(SM) Life VUL (policy form No. 1-17911101) is a variable universal life insurance policy issued by Transamerica Occidental Life Insurance Co., Los Angeles, and distributed by Transamerica Securities Sales Corp.

Policy form and number may vary, and this product may not be available in all jurisdictions. Not available in New York. Riders may not be available in all states. All sales must be made only when accompanied by current prospectuses for the product and for the underlying portfolios.

The prospectus contains information regarding risk considerations, charges and expenses. Investors should review the prospectus carefully before investing or sending money. This product is subject to investment risk, including possible loss of principal amount invested.