File Nos. 333-66745
Filed Under Rule 424(b)(3)
ING VARIABLE ANNUITIES
Golden American Life Insurance Company
Separate Account B of golden American Life Insurance Company
PROFILE AND PROSPECTUS SUPPLEMENT
December 5, 2001
Supplement to the Prospectuses:
dated May 1, 2001 for
Deferred Combination Variable and Fixed Annuity Contracts
(THE "GOLDENSELECT VALUE and GENERATIONS PROSPECTUSES")
issued by Golden American Life Insurance Company
and
dated November 5, 2001, for
Deferred Combination Variable and Fixed Annuity Contracts
(THE "GOLDENSELECT ESII and PREMIUM PLUS PROSPECTUSES")
issued by Golden American Life Insurance Company
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The following information supplements certain
information contained in the Profiles and
Prospectuses dated May 1, 2001
and those dated November 5, 2001,
for Deferred Combination Variable and Fixed
Annuity Contracts (the "Prospectus").
You should keep this supplement
with your
Profile and Prospectus.
Pursuant to an order of Securities and Exchange Commission ("SEC") dated
November 29, 2001, on or about December 14, 2001, Golden American Life Insurance
Company (the "Company") will substitute shares of the International Equity
Series of The GCG Trust (the "GCG Portfolio") for shares of the International
Equity Fund of Credit Suisse Warburg Pincus Trust ("Warburg Portfolio")
currently held by subaccounts of Separate Account B of Golden American Life
Insurance Company (the "Account"). To the extent required by law, approval of
the proposed substitution has also been obtained from the state insurance
regulators in certain jurisdictions. The effect of the proposed share
substitutions will be to replace the Warburg Portfolio the GGC Portfolio as an
investment option under the Contracts as described in your current prospectus.
If you have no assets allocated to the Warburg Portfolio on December 14, 2001,
you will not be affected by this substitution.
Following the substitution, the GCG Portfolio will be available as an
investment option as described in your prospectus. Directed Services, Inc.
("DSI") serves as the overall investment manager to The GCG Trust. ING Pilgrim
Investments, LLC. ("ING Pilgrim"), an affiliate of the Company and DSI, serves
as the portfolio manager to the GCG Portfolio. A more detailed description of
the GCG portfolio is included in the May 1, 2001 Prospectus for the GCG Trust.
If you would like another copy of the prospectus, please call 1-800-366-0066.
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121266 GALIC w CS December 5, 2001
As a Contract owner you have several options in responding to the pending
substitution. First, you can do nothing and your investment in Warburg Portfolio
will be replaced by an investment in the GCG Portfolio. Second, you can transfer
accumulated value under your Contract out of the subaccount of the Account
currently holding shares of Warburg Portfolio to another subaccount or the fixed
account. Any such transfer that you make between the date of this supplement and
30 days following the date of the substitution will not count towards the total
number of reallocations permitted free of charge under the Contracts. Third, you
may, in accordance with the terms of the Contract, surrender your Contract or
make a partial withdrawal of accumulated value from your Contract.
All costs associated with the substitution will be borne by the Company,
the other applicants and/or Directed Services, Inc. There will be no cost to
Contractholders.
This supplement should be retained with the Prospectus for future
reference.
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