Enjoy some real advantages when you choose VALIC for your Duke University 403(b) Retirement Plan provider. The following questions and answers will clarify plan features and benefits.

A: The tax-free loan provision gives you access to your voluntary (not required-employee or employer-matching) contributions, without permanently reducing your account balance.

A: Yes. Full cashability as well as 60 other settlement options are available anytime after you have separated from service. Please remember, however, that federal withdrawal restrictions and tax penalties may apply before age 59½.

A: No. Portfolio Director gives you immediate earning power. Your contributions or account values will never be reduced by initial sales charges, account maintenance fees, or withdrawal or surrender charges. Please note, however, that other fees may apply and are described in the current prospectus. These fees include Separate Account fees (mortality and expense risk) fees and Fund Annual Expenses for the variable options. Additionally, account maintenance fees and surrender charges may apply, depending on your contract. We invite you to refer to the prospectus for other expenses.

A: Yes.

• Effective November 2003, VALIC has established a more stringent frequent trading policy as a result of the market-timing focus. We will permit up to fifteen (15) transfers between investment options per calendar year. These transfers may be submitted via the internet or by telephone. Multiple transfers between options on the same day will be counted as a single transfer for purposes of applying these limitations. Transfers in excess of this limit may be required to be submitted in writing by regular U.S. mail and/or may be restricted to one transfer every 30 days. The limitations will be applied on a per participant, per account, basis. 'Per account' includes all funds in which a participant is invested. Transfers resulting from participation in the Guided Portfolio Services Portfolio Manager Program administered by VALIC Financial Advisors, Inc. will not count against these transfer limitations.

• 100% of the variable investment option balances may be transferred among other Portfolio Director investment options at any time.

• 100% of the Fixed Account Plus balance may be transferred over five years or up to 20% each contract year.

• 100% of the Short-Term Fixed Account balance may be transferred as soon as 90 days after a transfer into this account.

A: Yes. You may transfer account values among the variable investment options or to a fixed annuity once each year. However, amounts transferred into a fixed annuity must remain there to guarantee the income.

A: Yes. You can take all your funds in a single payment (lump sum), initiate a series of systematic withdrawals, or select one of more than 60 annuity options to start an income stream that VALIC guarantees you cannot outlive. Please note, however, that guarantees are subject to the claims-paying ability of the insurance company

A: Yes. Your financial advisor is ready and willing to meet with you wherever and whenever it is convenient for you.

A: Yes. Using notebook computers, financial advisors provide specialized, computer-aided services such as VALIC's 4SIGHT^® retirement-planning and Portfolio Optimizer^® asset-allocation services.