Notice to Policy Owner
Important! Please Respond Immediately
May 20, 1999
Dear Transamerica Tribute(R) Variable Universal Life Policy Owner:
The Board of Directors of Transamerica Variable Insurance Fund, Inc., has called
a special meeting of shareholders to be held June 16, 1999, for the purposes
explained in the enclosed Notice of a Special Meeting of Shareholders and Proxy
Statement.
The Growth Portfolio and the Money Market Portfolio of Transamerica Variable
Insurance Fund, Inc., are two of the portfolios available for investment under
your Transamerica Tribute(R) variable universal life policy. As a shareholder in
the Portfolios, Transamerica will vote its shares at this meeting. As a Policy
Owner, with amounts allocated to one or both of the sub-accounts associated with
the Portfolios, you have the right to instruct Transamerica how to vote its
shares. Transamerica will vote all the shares held in Separate Account VUL-1 in
accordance with the instructions it receives from you and other Policy Owners.
This mailing is to solicit instructions from you.
This special meeting is prompted by the merger agreement between Transamerica
Corporation, the parent company of the Portfolios' investment adviser and
sub-adviser, and AEGON N.V., one of the world's leading international insurance
groups. We expect the transaction to be completed in the next few months.
However, you can rest assured that it will not cause any disruptions in the
services you currently receive from Transamerica.
The enclosed materials provide information about the meeting and seek your
instructions regarding approval of new investment advisory and sub-advisory
agreements for the Portfolios and other proposals. The enclosed materials
explain that these new agreements are identical to the existing agreements in
all material respects. In the course of representing your interests, the Fund's
Board of Directors has evaluated and unanimously approved the proposals and
recommends approval of the new agreements and the other proposals.
Your instructions are important to us. Please mark your instructions on the
enclosed instruction form, sign, date and return it in the enclosed postage paid
envelope as soon as possible. At any time prior to when Transamerica votes its
shares, you may revoke your previously submitted instructions. If you have any
questions, please call our proxy solicitor, Georgeson & Company, at
800-223-2064, 8 a.m. to 8 p.m. Eastern time. If we have not received your
instructions prior to the meeting date, you may be contacted by Georgeson. We
hope this contact will not be an inconvenience to you.
Sincerely,
Sandra Brown, Vice President
Transamerica Occidental Life Insurance Company
INSTRUCTION FORM TO TRANSAMERICA
IN CONNECTION WITH
THE PROXY SOLICITED BY For
TRANSAMERICA VARIABLE INSURANCE FUND, INC. Against Abstain
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1. To approve the new investment o o o
The undersigned Policy Owner instructs Transamerica advisory agreement between the
Occidental Life Insurance Company ("Transamerica") to vote Portfolio and Transamerica Occidental
in the manner indicated on this form all shares of the Life Insurance Company.
Money Market Portfolio ("Portfolio") of Transamerica
Variable Insurance Fund, Inc., attributable as of May 10,
1999, to the Policy Owner's account value in the o o o
corresponding sub-account of Separate Account VUL-1 at the
Special Meeting of Shareholders on June 16, 1999, and all
adjournments or postponements thereof, and in its sole 2. To approve the new investment
discretion on such other matters as may properly come sub-advisory agreement, relating to
before the meeting. the Portfolio, between Transamerica
Occidental Life Insurance Company and
These instructions are being solicited by Transamerica Transamerica Investment Services, Inc.
as a shareholder in the Portfolio. Receipt of the
Notice to Policy Owners, Notice of a Special Meeting
of Shareholders and Proxy Statement is hereby acknowledged.
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PLEASE MARK INSTRUCTIONS AS FOLLOWS: x For The
Nominee Abstain
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3. To elect as directors the nominees o o
listed below:
Gary U. Rolle
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o o
Peter J. Sodini
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o o
Jon C. Strauss
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Dr. James H. Garrity o o
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For Against Abstain
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o o o
4. To ratify the selection
by the Board of Directors of Ernst &
Young LLP as independent public accountants
for the fiscal year ending December
31, 1999.
Please be sure to sign and date this form.
Date
-------------------------
Please sign exactly as name appears to the left.
When signing as attorney, executor, administrator,
trustee, or guardian, please give full title as
such. If signing for a corporation, please sign in
full corporate name by President or other authorized
officer. If a partnership, please sign in partnership
name by authorized person.
Policy Owner signs here Joint-owner signs here
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INSTRUCTION FORM TO TRANSAMERICA
IN CONNECTION WITH
THE PROXY SOLICITED BY For
TRANSAMERICA VARIABLE INSURANCE FUND, INC. Against Abstain
------------------------------------------------------------ --------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
1. To approve the new investment o o o
The undersigned Policy Owner instructs Transamerica advisory agreement between the
Occidental Life Insurance Company ("Transamerica") to vote Portfolio and Transamerica Occidental
in the manner indicated on this form all shares of the Life Insurance Company.
Growth Portfolio ("Portfolio") of Transamerica Variable
Insurance Fund, Inc., attributable as of May 10, 1999 to
the Policy Owner's account value in the corresponding o o o
sub-account of Separate Account VUL-1, at the Special
Meeting of Shareholders on June 16, 1999, and all
adjournments or postponements thereof, and in its sole 2. To approve the new investment
discretion on such other matters as may properly come sub-advisory agreement, relating to
before the meeting. the Portfolio, between Transamerica
Occidental Life Insurance Company and
These instructions are being solicited by Transamerica Transamerica Investment Services, Inc.
as a shareholder in the Portfolio. Receipt of the
Notice to Policy Owners, Notice of a Special Meeting of
Shareholders and Proxy Statement is hereby acknowledged.
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
PLEASE MARK INSTRUCTIONS AS FOLLOWS: x For The
Nominee Abstain
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
3. To elect as directors the nominees o o
listed below:
Gary U. Rolle
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
o o
Peter J. Sodini
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
o o
Jon C. Strauss
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
Dr. James H. Garrity o o
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
--------------------------------------- --------- ------- --------
For Against Abstain
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o o o
4. To ratify the selection
by the Board of Directors
of Ernst & Young LLP as
independent public accountants
Please be sure to sign and date for the fiscal year ending December
this form. 31, 1999.
Date
------------------------- Please sign exactly as
name appears to the left.
When signing as attorney,
executor, administrator,
trustee, or guardian,
please give full title as
such. If signing for a
corporation, please sign in
full corporate name by
President or other
authorized officer. If a
partnership, please sign in
partnership name by authorized person.
Policy Owner signs here Joint-owner signs here
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