Templeton Foreign Ret Acct

 Investment Option Profile
International Stocks -- World/Foreign Stocks

INVESTMENT OBJECTIVE

Seeks long-term capital growth.
INVESTMENT ADVISOR

The TR Transamerica Templeton Foreign Fund is a Separate Account portfolio maintained by Transamerica Financial Life Insurance Company (TFLIC). The TR Transamerica Templeton Foreign Fund invests exclusively in the Transamerica Templeton Foreign Fund1, a Transamerica Life Insurance Company^ (TLIC) Separate Account, which had an inception date of May 1995. Since March 18, 2002, the Transamerica Templeton Foreign Fund (TTFF) is sub-advised by Franklin Advisors, Inc., Antonio Docal.
INVESTMENT DESCRIPTION

Best suited for long-term investors who want international investment opportunities and who can accept the special risks associated with these investments. The TTFF invests mainly in equity securities issued by companies located outside the United States, including emerging markets. It includes primarily international stocks diversified among a variety of industries, as well as a variety of countries. The TTFF invests for long-term capital growth, and does not intend to emphasize short-term trading profits. Although the portfolio is generally invested in common stocks, it may also include preferred stocks and bonds. In selecting investments, the TTFF portfolio manager takes a long-term, disciplined approach to identifying undervalued stocks which, over time, may produce the greatest share price return.
RISK/RETURN

Foreign investing involves special risks, including currency fluctuations and economic and political uncertainties; emerging markets involve similar, but heightened risks. The fund seeks to minimize these risks by broadly diversifying its investments among many industries and many countries.
CHARGES FEES AND EXPENSES

There are no Investment Management or Administrative Charges applicable to the TR Transamerica Templeton Foreign Fund Separate Account Portfolio. However, the assets in this Separate Account Portfolio are subject to the total operating expenses of the underlying Transamerica Templeton Foreign Fund, which consists of the Investment Management Charge, which was 1.40% as of November 30, 2005.
 
This Separate Account (SA) invests in the Templeton Foreign Ret Opt, a TLIC SA. Effective 03-18-02, the TLIC SA is sub-advised by Franklin Advisers, Inc and is subject to TLIC Separate Account Maintenance (SAM) and SA Administrative (Admin) Charges. Prior to 03-18-02, the TLIC SA invested in the Templeton Foreign Fund (Class A shares) and was subject to different TLIC SAM Charges, SA Admin Charges and the underlying mutual fund expenses. No adjustments have been made to performance prior to 03-18-02 to reflect the difference between the charges and expenses for the TLIC SA invested in the mutual fund from the charges for the sub-advised TLIC SA.