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                                        Ultimate annual real interest rate
                                  ---------------------------------------------
      Valuation period                1.5 percent    2.3 percent    3.0 percent 
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Summarized income rate:
  25-year: 1996-2020..............          13.49          13.54          13.58
  50-year: 1996-2045..............          13.31          13.35          13.39
  75-year: 1996-2070..............          13.29          13.33          13.37
Summarized cost rate:
  25-year: 1996-2020..............          13.28          13.18          13.10
  50-year: 1996-2045..............          15.04          14.74          14.49
  75-year: 1996-2070..............          15.97          15.52          15.15
Balance: 
  25-year: 1996-2020..............           +.22           +.36           +.48
  50-year: 1996-2045..............          -1.73          -1.39          -1.10
  75-year: 1996-2070..............          -2.68          -2.19          -1.78
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