----------
96
----------------------------------------------------------------------------------------------------------------------------------
Regatta New York 1-Year SEC thru 12/31/96 accumulated
initial 12/31/96 12/31/95 value less ending %
amount unit value unit value fee less fees free amt free amt cdsc value Change
------- ---------- ---------- --- --------- -------- -------- ---- ----- ------
MMS 1000.00 11.1041530 10.7317909 2.25 1032.45 100 932.45 55.95 976.50 -2.35%
HYS 1000.00 13.3940860 12.1148594 1.25 1104.34 100 1004.34 60.26 1044.08 4.41%
CAS 1000.00 16.8790590 14.0889919 4.56 1193.47 100 1093.47 65.61 1127.86 12.79%
UTS 1000.00 15.0048120 12.6437966 0.44 1186.29 100 1086.29 65.18 1121.12 12.11%
WGS 1000.00 12.5095730 12.1202512 1.34 1030.78 100 930.78 55.85 974.93 -2.51%
MSS 1000.00 15.8730830 13.6881759 1.66 1157.96 100 1057.96 63.48 1094.48 9.45%
TRS 1000.00 14.2736690 12.6896445 4.62 1120.21 100 1020.21 61.21 1059.00 5.90%
GSS 1000.00 11.6198000 11.5958390 1.90 1000.17 100 900.17 54.01 946.16 -5.38%
CGS 1000.00 16.5964820 13.4204585 2.81 1233.85 100 1133.85 68.03 1165.81 16.58%
WGR 1000.00 12.2345060 10.9710671 1.32 1113.84 100 1013.84 60.83 1053.01 5.30%
----------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------
Money Market
1000.00 11.1041530 9.78228 1135.1293 91
3.56 11.1041530 9.96915 3.9653 92
3.50 11.1041530 10.090085 3.8518 93
3.13 11.1041530 10.3192635 3.3681 94
2.55 11.1041530 10.7317909 2.6385 95
2.25 11.1041530 11.104153 2.2500 96
---------
accumulated value less fees: 1119.06
free amt: 100.00
less free amt: 1019.06
cdsc: 40.76
ending value: 1078.29 1.52%
---------------------------------------------------------------
Managed Sectors
1000.00 15.8730830 10.0682700 1576.5452 (- 12/31/91
1.57 15.8730830 10.5737200 2.3569 (- 12/31/92
1.37 15.8730830 10.8495244 2.0043 (- 12/31/93
1.33 15.8730830 10.4940153 2.0117 (- 12/31/94
1.46 15.8730830 13.6881759 1.6930 (- 12/31/95
1.66 15.8730830 15.8730830 1.6600 (- 12/31/96
---------
accumulated value less fees: 1566.82
free amt: 100.00
less free amt: 1466.82
cdsc: 58.67
ending value: 1508.15 8.56%
---------------------------------------------------------------
High Yield
1000.00 13.3940860 8.2695000 1619.6972 (- 12/31/91
0.44 13.3940860 9.3749600 0.6286 (- 12/31/92
1.67 13.3940860 10.8856964 2.0548 (- 12/31/93
1.49 13.3940860 10.4959618 1.9014 (- 12/31/94
1.30 13.3940860 12.1148594 1.4373 (- 12/31/95
1.25 13.3940860 13.3940860 1.2500 (- 12/31/96
---------
accumulated value less fees: 1612.43
free amt: 100.00
less free amt: 1512.43
cdsc: 60.50
ending value: 1551.93 9.19%
---------------------------------------------------------------
Total Return
1000.00 14.2736690 8.8160700 1619.0512 (- 12/31/91
5.61 14.2736690 9.4396600 8.4829 (- 12/31/92
6.75 14.2736690 10.5293553 9.1503 (- 12/31/93
5.94 14.2736690 10.1490654 8.3540 (- 12/31/94
5.01 14.2736690 12.6896445 5.6354 (- 12/31/95
4.62 14.2736690 14.2736690 4.6200 (- 12/31/96
---------
accumulated value less fees: 1582.81
free amt: 100.00
less free amt: 1482.81
cdsc: 59.31
ending value: 1523.50 8.78%
---------------------------------------------------------------
Capital Appreciation
1000.00 16.8790590 8.5680800 1969.9932 (- 12/31/91
3.57 16.8790590 9.6015800 6.2759 (- 12/31/92
5.53 16.8790590 11.1751056 8.3526 (- 12/31/93
4.88 16.8790590 10.6243119 7.7530 (- 12/31/94
4.50 16.8790590 14.0889919 5.3911 (- 12/31/95
4.56 16.8790590 16.8790590 4.5600 (- 12/31/96
---------
accumulated value less fees: 1937.66
free amt: 100
less free amt: 1837.66
cdsc: 73.51
ending value: 1864.15 13.27%
---------------------------------------------------------------
Government Securities
1000.00 11.6198000 9.1701700 1267.1303 (- 12/31/91
1.99 11.6198000 9.6581800 2.3942 (- 12/31/92
3.84 11.6198000 10.3576737 4.3079 (- 12/31/93
2.91 11.6198000 9.9943411 3.3833 (- 12/31/94
2.17 11.6198000 11.5958390 2.1745 (- 12/31/95
1.90 11.6198000 11.6198000 1.9000 (- 12/31/96
---------
accumulated value less fees: 1252.97
free amt: 100
less free amt: 1152.97
cdsc: 46.12
ending value: 1206.85 3.83%
---------------------------------------------------------------
World Governments
1000.00 12.5095730 9.6910200 1290.8417 (- 12/31/91
1.19 12.5095730 9.6141500 1.5484 (- 12/31/92
1.69 12.5095730 11.2775740 1.8746 (- 12/31/93
1.76 12.5095730 10.6228626 2.0726 (- 12/31/94
1.54 12.5095730 12.1202512 1.5895 (- 12/31/95
1.34 12.5095730 12.5095730 1.3400 (- 12/31/96
---------
accumulated value less fees: 1282.42
free amt: 100
less free amt: 1182.42
cdsc: 47.30
ending value: 1235.12 4.31%
---------------------------------------------------------------
Conservative Growth
1000.00 16.5964820 9.1164900 1820.4903 (- 12/31/91
2.14 16.5964820 9.4983400 3.7392 (- 12/31/92
2.50 16.5964820 10.1521944 4.0869 (- 12/31/93
2.37 16.5964820 9.9013356 3.9726 (- 12/31/94
2.50 16.5964820 13.4204585 3.0916 (- 12/31/95
2.81 16.5964820 16.5964820 2.8100 (- 12/31/96
---------
accumulated value less fees: 1802.79
free amt: 100
less free amt: 1702.79
cdsc: 68.11
ending value: 1734.68 11.65%
---------------------------------------------------------------
REGATTA NEW YORKLife SEC through:12/31/96
---------------------------------------------------------------
Money Market 12/31/96
1000.00 11.1041530 7.4225800 1495.9964 12/31/96
3.56 11.1041530 7.7670900 5.0895 12/31/87
3.56 11.1041530 8.2066500 4.8169 12/31/88
3.56 11.1041530 8.8147600 4.4846 12/31/89
3.56 11.1041530 9.3752500 4.2165 12/31/90
3.56 11.1041530 9.7822800 4.0411 12/31/91
3.56 11.1041530 9.9691500 3.9653 12/31/92
3.50 11.1041530 10.0900850 3.8518 12/31/93
3.13 11.1041530 10.3192635 3.3681 12/31/94
2.55 11.1041530 10.7317909 2.6385 12/31/95
2.25 11.1041530 11.1041530 2.2500 12/31/96
---------
accumulated value less fees: 1457.27
free amt: 100.00
Yrs: less free amt: 1357.27
10 cdsc % cdsc: 0.00
10 0% ending value: 1457.27 3.84%
---------------------------------------------------------------
Conservative Growth 12/31/96
1000 16.5964820 5.1657700 3212.7799 12/31/86
2.14 16.5964820 4.9919900 7.1147 12/31/87
2.14 16.5964820 5.2957200 6.7066 12/31/88
2.14 16.5964820 7.0959100 5.0052 12/31/89
2.14 16.5964820 6.7580700 5.2554 12/31/90
2.14 16.5964820 9.1164900 3.8958 12/31/91
2.14 16.5964820 9.4983400 3.7392 12/31/92
2.50 16.5964820 10.1521900 4.0869 12/31/93
2.37 16.5964820 9.9013356 3.9726 12/31/94
2.50 16.5964820 13.4204585 3.0916 12/31/95
2.81 16.5964820 16.5964820 2.8100 12/31/96
---------
accumulated value less fees: 3167.10
free amt: 100.00
Yrs: less free amt: 3067.10
10 cdsc % cdsc: 0.00
10 0% ending value: 3167.10 12.22%
---------------------------------------------------------------
High Yield Series12/31/96
1000.00 13.3940860 6.0975400 2196.6377 12/31/96
0.44 13.3940860 6.0773200 0.9697 12/31/87
0.44 13.3940860 6.8867200 0.8558 12/31/88
0.44 13.3940860 6.7279300 0.8760 12/31/89
0.44 13.3940860 5.6817300 1.0373 12/31/90
0.44 13.3940860 8.2695000 0.7127 12/31/91
0.44 13.3940860 9.3749600 0.6286 12/31/92
1.67 13.3940860 10.8856964 2.0548 12/31/93
1.49 13.3940860 10.4959618 1.9014 12/31/94
1.30 13.3940860 12.1148594 1.4373 12/31/95
1.25 13.3940860 13.3940860 1.2500 12/31/96
---------
accumulated value less fees: 2184.91
free amt: 100.00
Yrs: less free amt: 2084.91
10 cdsc % cdsc: 0.00
10 0% ending value: 2184.91 8.13%
---------------------------------------------------------------
World Government Series 5/16/88
1000.00 12.5095730 6.8344200 1830.3781 5/16/88
1.19 12.5095730 7.0678300 2.1062 5/31/89
1.19 12.5095730 7.6530200 1.9452 5/31/90
1.19 12.5095730 8.4006400 1.7721 5/31/91
1.19 12.5095730 9.5941700 1.5516 5/31/92
1.69 12.5095730 10.3048300 2.0516 5/31/93
1.76 12.5095730 10.2286973 2.1525 5/31/94
1.54 12.5095730 11.8191890 1.6300 5/31/95
1.34 12.5095730 11.9196310 1.4063 5/31/96
1.34 12.5095730 12.5095730 1.3400 12/31/96
---------
accumulated value less fees: 1814.42
free amt: 100.00
Yrs: less free amt: 1714.42
8.63287671 cdsc % cdsc: 0.00
9 0% ending value: 1814.42 7.14%
---------------------------------------------------------------
Capital Appreciation Series 12/31/96
1000.00 16.8790590 4.4710000 3775.2313 12/31/96
3.57 16.8790590 4.5142000 13.3486 12/31/87
3.57 16.8790590 4.7682200 12.6375 12/31/88
3.57 16.8790590 6.9216200 8.7058 12/31/89
3.57 16.8790590 6.1657000 9.7731 12/31/90
3.57 16.8790590 8.5680800 7.0329 12/31/91
3.57 16.8790590 9.6015800 6.2759 12/31/92
5.53 16.8790590 11.1751056 8.3526 12/31/93
4.88 16.8790590 10.6243119 7.7530 12/31/94
4.50 16.8790590 14.0889919 5.3911 12/31/95
4.56 16.8790590 16.8790590 4.5600 12/31/96
---------
accumulated value less fees: 3691.40
free amt: 100.00
Yrs: less free amt: 3591.40
10 cdsc % cdsc: 0.00
10 0% ending value: 3691.40 13.95%
---------------------------------------------------------------
Managed Sectors Series 5/27/88
1000.00 15.8730830 4.7905500 3313.4156 5/27/88
1.57 15.8730830 6.4248700 3.8788 5/31/89
1.57 15.8730830 7.1111200 3.5045 5/31/90
1.57 15.8730830 7.8381700 3.1794 5/31/91
1.57 15.8730830 9.1288400 2.7299 5/31/92
1.37 15.8730830 10.1993400 2.1321 5/31/93
1.33 15.8730830 10.4477567 2.0206 5/31/94
1.46 15.8730830 12.3415515 1.8778 5/31/95
1.66 15.8730830 15.2451450 1.7284 5/31/96
1.66 15.8730830 15.8730830 1.6600 12/31/96
---------
accumulated value less fees: 3290.70
free amt: 100.00
Yrs: less free amt: 3190.70
8.60273973 cdsc % cdsc: 0.00
9 0% ending value: 3290.70 14.85%
---------------------------------------------------------------
REGATTA NEW YORKLife SEC through 12/31/96 (continued)
---------------------------------------------------------------
Government Securities Series 12/31/96
1000.00 11.6198000 6.2375000 1862.8938 12/31/96
1.99 11.6198000 6.0350900 3.8315 12/31/87
1.99 11.6198000 6.6907000 3.4561 12/31/88
1.99 11.6198000 7.2549800 3.1872 12/31/89
1.99 11.6198000 7.6580900 3.0195 12/31/90
1.99 11.6198000 9.1701700 2.5216 12/31/91
1.99 11.6198000 9.6581800 2.3942 12/31/92
3.84 11.6198000 10.3576737 4.3079 12/31/93
2.91 11.6198000 9.9943411 3.3833 12/31/94
2.17 11.6198000 11.5958390 2.1745 12/31/95
1.90 11.6198000 11.6198000 1.9000 12/31/96
---------
accumulated value less fees: 1832.72
free amt: 100.00
Yrs: less free amt: 1732.72
10 cdsc % cdsc: 0.00
10 0% ending value: 1832.72 6.25%
---------------------------------------------------------------
Total Return Series5/16/88
1000.00 14.2736690 5.9760200 2388.4908 5/16/88
5.61 14.2736690 6.8561700 11.6793 5/31/89
5.61 14.2736690 7.3761700 10.8559 5/31/90
5.61 14.2736690 8.1451800 9.8310 5/31/91
5.61 14.2736690 8.9885000 8.9086 5/31/92
6.75 14.2736690 10.0976900 9.5415 5/31/93
5.94 14.2736690 10.2386337 8.2809 5/31/94
5.01 14.2736690 11.4171490 6.2635 5/31/95
4.62 14.2736690 13.1337800 5.0210 5/31/96
4.62 14.2736690 14.2736690 4.6200 12/31/96
accumulated value less fees: 2313.49
free amt: 100.00
Yrs: less free amt: 2213.49
8.63287671 cdsc % cdsc: 0.00
9 0% ending value: 2313.49 10.20%
---------------------------------------------------------------
World Growth Series 11/16/93
1000.00 12.2345060 8.8963700 1375.2245 11/16/93
0.20 12.2345060 9.7378868 0.2513 11/30/94
0.75 12.2345060 10.6895250 0.8584 11/30/95
1.32 12.2345060 12.3358540 1.3092 11/30/96
1.32 12.2345060 12.2345060 1.3200 12/31/96
---------
accumulated value less fees: 1371.49
free amt: 100.00
Yrs: less free amt: 1271.49
3.1260274 cdsc % cdsc: 63.57
4 5% ending value: 1307.91 8.97%
---------------------------------------------------------------
Utilities Series 11/16/93
1000.00 15.0048120 10.3296600 1452.5950 11/16/93
0.03 15.0048120 9.5173628 0.0473 11/30/94
0.27 15.0048120 12.1432750 0.3336 11/30/95
0.44 15.0048120 14.6454850 0.4508 11/30/96
0.44 15.0048120 15.0048120 0.4400 12/31/96
---------
accumulated value less fees: 1451.32
free amt: 100.00
Yrs: less free amt: 1351.32
3.1260274 cdsc % cdsc: 67.57
4 5% ending value: 1383.76 10.95%
---------------------------------------------------------------
