The RS Money Market VIP Series is neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC), and there can be no assurance that the Fund will be able to maintain a stable net asset value of $10.00 per share. It is possible to lose money by investing in the Fund. Yields shown do not reflect the deduction of fund-level expenses, separate account level charges, contract administrative fees or CDSCs.

GIAC guarantees that premium payments or transfers allocated to the Fixed-Rate Option will earn a minimum annual interest rate of 3%. At our discretion, an interest rate in excess of the minimum 3% may be credited. GIAC reserves the right to change rates prospectively without notice.

Payments to the Fixed Rate Option receive an annual interest rate that is accrued daily. The rate will continue until the next contract anniversary date.

On the contract anniversary date, all payments and transfers allocated to the Fixed-Rate Option during the previous year together with interest earned will begin receiving the interest rate in effect on the renewal date, known as the renewal rate. The renewal rate will be guaranteed until the next contract anniversary date. At that time a new rate will be determined.

Investments in The Guardian Investor Retirement Asset Manager^® variable annuity or any of its investment options are not deposits or obligations of, or guaranteed or endorsed by any bank or depository institution; further, neither the contract nor such investments are insured by the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Association (NCUA), the Federal Reserve Board, or any other agency.

Performance data quoted is historical. Past performance is no guarantee of future results. Investment return and principal will fluctuate with changes in the market value of the underlying securities. Investors' units, when redeemed, may be worth more or less than the original investment.

You can view your annuity account information, including unit values from your contract, on My Account Manager. Just click on the Account Access tab above to register or log in to My Account Manager. You may also call 1-800-221-3253, Option 2 for further information.

These returns, including historical fund performance results prior to the commencement of operations of the Separate Account (September 15, 1997), reflect the deduction of two types of charges:

a) the investment division charges consist of fund-level expenses, which are similar to the charges on traditional mutual funds.

b) the separate account level charges are the annual mortality and expense risk charge (M&E charge) of 1.05% and administrative expenses of .20%.

These returns are calculated from the inception date of each investment option. This section does not reflect the deduction of a $35.00 annual contract fee (which is waived for accounts over $100,000).

Figures for contract owners who elect an enhanced death benefit or other optional rider would be slightly lower to reflect each rider’s applicable annual charges (0.20% of variable investment option assets for the 7-Year Enhanced Death Benefit Rider, 0.25% of variable investment option assets for each of the Earnings Benefit Rider, the Decade Living Benefit Rider, and the Contract Anniversary Enhanced Death Benefit Rider.)

Effective May 1, 2005 the following fund name changes went into effect: AllianceBernstein Premier Growth Portfolio became AllianceBernstein Large Cap Growth Portfolio; AllianceBerstein Global Thematic Growth Portfolio (formerly AllianceBernstein Global Technology Portfolio); Janus Aspen Capital Appreciation Portfolio became Janus Aspen Forty Portfolio.

• Initial offering of Class B shares for AllianceBernstein Growth & Income Portfolio, AllianceBernstein Premier Growth, and AllianceBernstein Technology Portfolio took place on 6/1/1999, 7/14/1999, and 9/22/1999, respectively.
• Initial offering of Service Class shares for Fidelity VIP Contrafund Portfolio, Fidelity VIP Equity-Income Portfolio, and Fidelity VIP Growth Opportunities Portfolio took place on 11/3/1997.
• Initial offering of Class 2 shares for the Templeton Growth Securities Fund took place on 1/6/1999. The initial offering of Class II shares for the Jennison Portfolio took place on 2/10/2000. For the ValueLine funds, a 12b-1 fee became effective on 9/18/2002.
• Initial offering of Class II shares for Van Kampen LIT Government Portfolio and Van Kampen LIT Growth and Income Portfolio took place on 12/15/2000 and 9/18/2000, respectively.

12b-1 fees were imposed on those dates listed above. Returns prior to those dates do not include the effects of any 12b-1 fees and returns listed would have been lower for each fund if these fees had been in place and reflected in the performance.

All funds involve some risk, including possible loss of principal amount invested. There are some additional risks to consider when investing in certain funds. Certain portfolios may have similar investment objectives and policies and, in some cases, similar names to retail mutual funds managed by the same manager. The portfolios named are not the same funds as the retail funds. As a result, specific investments may be different and investment results may be higher or lower.

• Small-cap investing entails special risks. Small-cap stocks have tended to be more volatile than large-cap stocks. This may happen because small companies may be limited in terms of product lines, financial resources and management. These risks apply to RS Small Cap Growth Equity VIP Series, RS Partners VIP Series, and the MFS Growth Series (formerly MFS Emerging Growth Series).
• Sector related funds primarily limit their investments to companies in specific industries. Therefore, this type of fund may be susceptible to factors affecting these industries and the fund’s value may fluctuate more than a fund that invests in a wider range of industries. In addition, the rapid pace of change within many of these industries tends to create a more volatile environment than in other industries which may lower the market value of the securities of the companies held in this type of fund. These risks apply to the AIM V.I. Utilities Fund, the AllianceBerstein Global Thematic Growth Portfolio (formerly AllianceBernstein Global Technology Portfolio), the Davis Financial Portfolio, the Davis Real Estate Portfolio, the Fidelity VIP Equity Income Portfolio, the Fidelity VIP Mid Cap Stock Portfolio and the Templeton Growth Securities Fund.
• International investing has special risks relating to changes in currency rates, foreign taxation, differences in auditing and other financial standards, political uncertainty and greater volatility. These risks are even greater when investing in emerging markets. These risks apply to the AIM V.I. Utilities Fund, the Templeton Growth Securities Fund, the RS Emerging Markets VIP Fund, the RS International Growth VIP Fund, RS Large Cap Value Fund VIP Series, RS Partners VIP Series, the Janus Aspen Worldwide Growth Portfolio, the MFS Investors Trust Series, the MFS New Discovery Series and the MFS Total Return Series.
• High yield bond investing includes special risks. Investments in lower rated and unrated debt securities are subject to a greater loss of principal and interest than investments in higher rated securities. These risks apply to RS High Yield Bond VIP Series.
• An investment in a bond fund such as RS Low Duration Bond VIP Series or RS High Yield Bond VIP Series exposes you to the general risk of investing in debt markets. Duration is a measure of bond price sensitivity to a given change in interest rates. Generally, the longer a bond’s duration, the greater its price sensitivity to a change in interest rates. Low duration bond funds are not an alternative to money market funds. Low duration bond funds, unlike money market funds, do not seek to maintain a stable net asset value and as a result are a riskier asset class.

^¶ Prior to October 15, 2004 this fund was known as INVESCO VIF-Utilities Fund. On April 30, 2004, the AIM V.I. Global Utilities Fund merged into the INVESCO VIF-Utilities Fund. On that date, the AIM V.I. Global Utilities Fund ceased operations, and the INVESCO VIF-Utilities Fund replaced it as the fund in which the corresponding variable investment option under this contract invests. Performance for this variable investment option reflects the returns of the AIM V.I. Global Utilities Fund for time periods up to April 30, 2004 and reflects the returns of the INVESCO VIF-Utilities Fund for time periods beginning on and after April 30, 2004.

^* Effective May 1, 2006, pursuant to shareholder approval of a plan of reorganization, assets in the AIM V.I. Aggressive Growth and AIM V.I.Growth Funds were transferred to the AIM V.I. Capital Appreciation Fund. On that date, as a result of the reorganization, the AIM V.I. Aggressive Growth and AIM V.I. Growth Funds ceased operations, and the AIM V.I. Capital Appreciation Fund replaced it as the fund in which the corresponding investment division under this contract invests. Performance for this variable investment option reflects the returns of the AIM V.I. Growth Fund for time periods up to May 1, 2006 and reflects the returns of the AIM V.I. Capital Appreciation Fund for time periods beginning on and after May 1, 2006.

Effective May 1, 2006, pursuant to shareholder approval of a plan of reorganization, assets in the AIM V.I. Premier Equity Fund were transferred to the AIM V.I. Core Equity Fund. On that date, the AIM V.I. Premier Equity Fund ceased operations and the AIM V.I. Core Equity Fund replaced it as the fund in which the corresponding investment division under this contract invests. Performance for this variable investment option reflects the return of the AIM V.I. Premier Equity Fund for time periods up to May 1, 2006 and reflects returns of the AIM V.I. Core Equity Fund for time periods beginning on and after May 1, 2006.

^** Performance quoted for this fund is for a very short time period and should not be used as the basis for an investment decision.

^***On October 9, 2006, pursuant to shareholder approval of a plan of reorganization, the Guardian Stock Fund, Guardian VC 500 Index Fund, Guardian VC Asset Allocation Fund, Guardian VC High Yield Bond Fund, Guardian VC Low Duration Bond Fund, Guardian UBS VC Large Cap Value Fund, Guardian UBS VC Small Cap Value Fund, Guardian Bond Fund, Guardian Cash Fund, Baillie Gifford International Growth Fund, Baillie Gifford Emerging Markets Fund, and Guardian Small Cap Stock Fund (collectively, the "Guardian Funds") will no longer be available as investment options under this contract. They will be replaced by the RS Large Cap Alpha VIP Series, RS S&P 500 Index VIP Series, RS Asset Allocation VIP Series, RS High Yield Bond VIP Series, RS Low Duration Bond VIP Series, RS Large Cap Value Fund VIP Series, RS Partners VIP Series, RS Investment Quality Bond VIP Series, RS Money Market VIP Series, RS International Growth VIP Series, RS Emerging Markets VIP Series, and the RS Small Cap Growth Equity VIP Series (collectively, the "RS Funds"), respectively, each a series of the RS Variable Products Trust. Contract values allocated to any of the Guardian Funds as of October 6, 2006 will be transferred to the corresponding RS Fund.