<TABLE>
<CAPTION>
                                              VALUEMARK INCOME PLUS
                                         Allianz Life Variable Account B
                             Cumulative and Average Annual Total Return Calculations

                                    Original Purchase as of December 31, 1998
                                      Valuation Date as of December 31, 1999


                                           Dollar                          Units This    Accum.       Accum.
    Date             Transaction           Amount         Unit Value         Trans.       Units       Value

                                    Franklin Global Communications Securities
<S>           <C>                          <C>                <C>               <C>         <C>       <C>
12-31-98      Purchase                     $1,000.00          $28.30779835      35.326      35.326    $1,000.00
12-31-99      Current Value                                    38.91678151       0.000      35.326     1,374.77
              Cumulative and Average Annual Total Returns                                                37.48% A

                                      Franklin Growth and Income Securities
12-31-98      Purchase                     $1,000.00          $26.22646854      38.129      38.129    $1,000.00
12-31-99      Current Value                                    26.14748139       0.000      38.129       996.99
              Cumulative and Average Annual Total Returns                                                -0.30% A

                                               Franklin High Income
12-31-98      Purchase                     $1,000.00          $21.20849040      47.151      47.151    $1,000.00
12-31-99      Current Value                                    20.89988452       0.000      47.151       985.45
              Cumulative and Average Annual Total Returns                                                -1.46% A

                                            Franklin Income Securities
12-31-98      Purchase                     $1,000.00          $25.12170867      39.806      39.806    $1,000.00
12-31-99      Current Value                                    24.32274932       0.000      39.806       968.20
              Cumulative and Average Annual Total Returns                                                -3.18% A

                                       Franklin Large Cap Growth Securities
12-31-98      Purchase                     $1,000.00          $15.57416691      64.209      64.209    $1,000.00
12-31-99      Current Value                                    20.21840693       0.000      64.209     1,298.20
              Cumulative and Average Annual Total Returns                                                29.82% A

                                              Franklin Money Market
12-31-98      Purchase                     $1,000.00          $14.38555424      69.514      69.514    $1,000.00
12-31-99      Current Value                                    14.86037176       0.000      69.514     1,033.01
              Cumulative and Average Annual Total Returns                                                 3.30% A

                                               Franklin Real Estate
12-31-98      Purchase                     $1,000.00          $23.10677956      43.277      43.277    $1,000.00
12-31-99      Current Value                                    21.38599208       0.000      43.277       925.53
              Cumulative and Average Annual Total Returns                                                -7.45% A

                                       Franklin Rising Dividends Securities
12-31-98      Purchase                     $1,000.00          $21.16548977      47.247      47.247    $1,000.00
12-31-99      Current Value                                    18.84623514       0.000      47.247       890.42
              Cumulative and Average Annual Total Returns                                               -10.96% A

                                                Franklin Small Cap
12-31-98      Purchase                     $1,000.00          $14.59958077      68.495      68.495    $1,000.00
12-31-99      Current Value                                    28.35274064       0.000      68.495     1,942.02
              Cumulative and Average Annual Total Returns                                                94.20% A

                                            Franklin Value Securities
12-31-98      Purchase                     $1,000.00           $7.71743151     129.577     129.577    $1,000.00
12-31-99      Current Value                                     7.73575540       0.000     129.577     1,002.37
              Cumulative and Average Annual Total Returns                                                 0.24% A

                                           Mutual Discovery Securities
12-31-98      Purchase                     $1,000.00          $11.22622113      89.077      89.077    $1,000.00
12-31-99      Current Value                                    13.70059906       0.000      89.077     1,220.41
              Cumulative and Average Annual Total Returns                                                22.04% A

                                             Mutual Shares Securities
12-31-98      Purchase                     $1,000.00          $11.83677406      84.482      84.482    $1,000.00
12-31-99      Current Value                                    13.23680837       0.000      84.482     1,118.28
              Cumulative and Average Annual Total Returns                                                11.83% A

                                             Templeton Asset Strategy
12-31-98      Purchase                     $1,000.00          $13.58859831      73.591      73.591    $1,000.00
12-31-99      Current Value                                    14.40812335       0.000      73.591     1,060.31
              Cumulative and Average Annual Total Returns                                                 6.03% A

                                     Templeton Developing Markets Securities
12-31-98      Purchase                     $1,000.00           $7.99263591     125.115     125.115    $1,000.00
12-31-99      Current Value                                    12.18796363       0.000     125.115     1,524.90
              Cumulative and Average Annual Total Returns                                                52.49% A

                                           Templeton Growth Securities
12-31-98      Purchase                     $1,000.00          $16.30853286      61.318      61.318    $1,000.00
12-31-99      Current Value                                    19.46559691       0.000      61.318     1,193.58
              Cumulative and Average Annual Total Returns                                                19.36% A

                                        Templeton International Securities
12-31-98      Purchase                     $1,000.00          $18.43652906      54.240      54.240    $1,000.00
12-31-99      Current Value                                    23.02199633       0.000      54.240     1,248.72
              Cumulative and Average Annual Total Returns                                                24.87% A

                                    Templeton International Smaller Companies
12-31-98      Purchase                     $1,000.00           $9.36443942     106.787     106.787    $1,000.00
12-31-99      Current Value                                    11.44110306       0.000     106.787     1,221.76
              Cumulative and Average Annual Total Returns                                                22.18% A

                                       Templeton Pacific Growth Securities
12-31-98      Purchase                     $1,000.00           $8.07846316     123.786     123.786    $1,000.00
12-31-99      Current Value                                    10.91531713       0.000     123.786     1,351.16
              Cumulative and Average Annual Total Returns                                                35.12% A

<FN>
A = (Accumulated Value as of December 31, 1999 - Accum. Value at Purch.)/Accum. Value at Purch.
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            VALUEMARK INCOME PLUS
                                       Allianz Life Variable Account B
                           Cumulative and Average Annual Total Return Calculations

                                  Original Purchase as of December 31, 1996
                                    Valuation Date as of December 31, 1999


                                           Dollar                       Units This    Accum.      Accum.
    Date             Transaction           Amount        Unit Value       Trans.      Units       Value

                                  Franklin Global Communications Securities
<S>           <C>                           <C>            <C>               <C>        <C>       <C>
12-31-96      Purchase                      $1,000.00      $20.65439774      48.416     48.416    $1,000.00
12-31-99      Current Value                                 38.91678151       0.000     48.416     1,884.19
              Cumulative Total Return                                                                88.42% A
              Average Annual Total Return                                                            23.51% B

                                    Franklin Growth and Income Securities
12-31-96      Purchase                      $1,000.00      $19.48959860      51.309     51.309    $1,000.00
12-31-99      Current Value                                 26.14748139       0.000     51.309     1,341.61
              Cumulative Total Return                                                                34.16% A
              Average Annual Total Return                                                            10.29% B

                                             Franklin High Income
12-31-96      Purchase                      $1,000.00      $19.37479425      51.613     51.613    $1,000.00
12-31-99      Current Value                                 20.89988452       0.000     51.613     1,078.72
              Cumulative Total Return                                                                 7.87% A
              Average Annual Total Return                                                             2.56% B

                                          Franklin Income Securities
12-31-96      Purchase                      $1,000.00      $21.70827863      46.065     46.065    $1,000.00
12-31-99      Current Value                                 24.32274932       0.000     46.065     1,120.44
              Cumulative Total Return                                                                12.04% A
              Average Annual Total Return                                                             3.86% B

                                     Franklin Large Cap Growth Securities
12-31-96      Purchase                      $1,000.00      $11.25417490      88.856     88.856    $1,000.00
12-31-99      Current Value                                 20.21840693       0.000     88.856     1,796.53
              Cumulative Total Return                                                                79.65% A
              Average Annual Total Return                                                            21.57% B

                                            Franklin Money Market
12-31-96      Purchase                      $1,000.00      $13.35923111      74.855     74.855    $1,000.00
12-31-99      Current Value                                 14.86037176       0.000     74.855     1,112.37
              Cumulative Total Return                                                                11.24% A
              Average Annual Total Return                                                             3.61% B

                                             Franklin Real Estate
12-31-96      Purchase                      $1,000.00      $23.66770609      42.252     42.252    $1,000.00
12-31-99      Current Value                                 21.38599208       0.000     42.252       903.59
              Cumulative Total Return                                                                -9.64% A
              Average Annual Total Return                                                            -3.32% B

                                     Franklin Rising Dividends Securities
12-31-96      Purchase                      $1,000.00      $15.30299222      65.347     65.347    $1,000.00
12-31-99      Current Value                                 18.84623514       0.000     65.347     1,231.54
              Cumulative Total Return                                                                23.15% A
              Average Annual Total Return                                                             7.19% B

                                              Franklin Small Cap
12-31-96      Purchase                      $1,000.00      $12.91274591      77.443     77.443    $1,000.00
12-31-99      Current Value                                 28.35274064       0.000     77.443     2,195.72
              Cumulative Total Return                                                               119.57% A
              Average Annual Total Return                                                            29.97% B

                                         Mutual Discovery Securities
12-31-96      Purchase                      $1,000.00      $10.18045638      98.227     98.227    $1,000.00
12-31-99      Current Value                                 13.70059906       0.000     98.227     1,345.77
              Cumulative Total Return                                                                34.58% A
              Average Annual Total Return                                                            10.41% B

                                           Mutual Shares Securities
12-31-96      Purchase                      $1,000.00      $10.33016898      96.804     96.804    $1,000.00
12-31-99      Current Value                                 13.23680837       0.000     96.804     1,281.37
              Cumulative Total Return                                                                28.14% A
              Average Annual Total Return                                                             8.62% B

                                           Templeton Asset Strategy
12-31-96      Purchase                      $1,000.00      $12.51416879      79.909     79.909    $1,000.00
12-31-99      Current Value                                 14.40812335       0.000     79.909     1,151.34
              Cumulative Total Return                                                                15.13% A
              Average Annual Total Return                                                             4.81% B

                                   Templeton Developing Markets Securities
12-31-96      Purchase                      $1,000.00      $11.48724479      87.053     87.053    $1,000.00
12-31-99      Current Value                                 12.18796363       0.000     87.053     1,061.00
              Cumulative Total Return                                                                 6.10% A
              Average Annual Total Return                                                             1.99% B

                                         Templeton Growth Securities
12-31-96      Purchase                      $1,000.00      $13.55953972      73.749     73.749    $1,000.00
12-31-99      Current Value                                 19.46559691       0.000     73.749     1,435.56
              Cumulative Total Return                                                                43.56% A
              Average Annual Total Return                                                            12.81% B

                                      Templeton International Securities
12-31-96      Purchase                      $1,000.00      $16.08142393      62.184     62.184    $1,000.00
12-31-99      Current Value                                 23.02199633       0.000     62.184     1,431.59
              Cumulative Total Return                                                                43.16% A
              Average Annual Total Return                                                            12.70% B

                                  Templeton International Smaller Companies
12-31-96      Purchase                      $1,000.00      $11.14519961      89.725     89.725    $1,000.00
12-31-99      Current Value                                 11.44110306       0.000     89.725     1,026.55
              Cumulative Total Return                                                                 2.65% A
              Average Annual Total Return                                                             0.88% B

                                     Templeton Pacific Growth Securities
12-31-96      Purchase                      $1,000.00      $14.93159316      66.972     66.972    $1,000.00
12-31-99      Current Value                                 10.91531713       0.000     66.972       731.02
              Cumulative Total Return                                                               -26.90% A
              Average Annual Total Return                                                            -9.92% B

<FN>
A = (Accumulated Value as of December 31, 1999 - Accum. Value at Purch.)/Accum. Value at Purch.
B = [(A+1)^(1/3 Years)]-1
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            VALUEMARK INCOME PLUS
                                       Allianz Life Variable Account B
                           Cumulative and Average Annual Total Return Calculations

                                  Original Purchase as of December 31, 1994
                                    Valuation Date as of December 31, 1999


                                           Dollar                       Units This    Accum.      Accum.
    Date             Transaction           Amount        Unit Value       Trans.      Units       Value

                                  Franklin Global Communications Securities
<S>           <C>                           <C>            <C>               <C>        <C>       <C>
12-31-94      Purchase                      $1,000.00      $15.10395032      66.208     66.208    $1,000.00
12-31-99      Current Value                                 38.91678151       0.000     66.208     2,576.60
              Cumulative Total Return                                                               157.66% A
              Average Annual Total Return                                                            20.84% B

                                    Franklin Growth and Income Securities
12-31-94      Purchase                      $1,000.00      $13.21462941      75.674     75.674    $1,000.00
12-31-99      Current Value                                 26.14748139       0.000     75.674     1,978.68
              Cumulative Total Return                                                                97.87% A
              Average Annual Total Return                                                            14.62% B

                                             Franklin High Income
12-31-94      Purchase                      $1,000.00      $14.60759128      68.458     68.458    $1,000.00
12-31-99      Current Value                                 20.89988452       0.000     68.458     1,430.76
              Cumulative Total Return                                                                43.08% A
              Average Annual Total Return                                                             7.43% B

                                          Franklin Income Securities
12-31-94      Purchase                      $1,000.00      $16.39171653      61.006     61.006    $1,000.00
12-31-99      Current Value                                 24.32274932       0.000     61.006     1,483.84
              Cumulative Total Return                                                                48.38% A
              Average Annual Total Return                                                             8.21% B

                                            Franklin Money Market
12-31-94      Purchase                      $1,000.00      $12.35398427      80.946     80.946    $1,000.00
12-31-99      Current Value                                 14.86037176       0.000     80.946     1,202.88
              Cumulative Total Return                                                                20.29% A
              Average Annual Total Return                                                             3.76% B

                                             Franklin Real Estate
12-31-94      Purchase                      $1,000.00      $15.59407180      64.127     64.127    $1,000.00
12-31-99      Current Value                                 21.38599208       0.000     64.127     1,371.42
              Cumulative Total Return                                                                37.14% A
              Average Annual Total Return                                                             6.52% B

                                     Franklin Rising Dividends Securities
12-31-94      Purchase                      $1,000.00       $9.76873744     102.367    102.367    $1,000.00
12-31-99      Current Value                                 18.84623514       0.000    102.367     1,929.24
              Cumulative Total Return                                                                92.92% A
              Average Annual Total Return                                                            14.05% B

                                   Templeton Developing Markets Securities
12-31-94      Purchase                      $1,000.00       $9.45424664     105.773    105.773    $1,000.00
12-31-99      Current Value                                 12.18796363       0.000    105.773     1,289.15
              Cumulative Total Return                                                                28.92% A
              Average Annual Total Return                                                             5.21% B

                                         Templeton Growth Securities
12-31-94      Purchase                      $1,000.00      $10.20085584      98.031     98.031    $1,000.00
12-31-99      Current Value                                 19.46559691       0.000     98.031     1,908.23
              Cumulative Total Return                                                                90.82% A
              Average Annual Total Return                                                            13.80% B

                                      Templeton International Securities
12-31-94      Purchase                      $1,000.00      $12.16131942      82.228     82.228    $1,000.00
12-31-99      Current Value                                 23.02199633       0.000     82.228     1,893.05
              Cumulative Total Return                                                                89.31% A
              Average Annual Total Return                                                            13.61% B

                                     Templeton Pacific Growth Securities
12-31-94      Purchase                      $1,000.00      $12.80173310      78.114     78.114    $1,000.00
12-31-99      Current Value                                 10.91531713       0.000     78.114       852.64
              Cumulative Total Return                                                               -14.74% A
              Average Annual Total Return                                                            -3.14% B

<FN>
A = (Accumulated Value as of December 31, 1999 - Accum. Value at Purch.)/Accum. Value at Purch.
B = [(A+1)^(1/5 Years)]-1
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            VALUEMARK INCOME PLUS
                                       Allianz Life Variable Account B
                           Cumulative and Average Annual Total Return Calculations

                                  Original Purchase as of December 31, 1989
                                    Valuation Date as of December 31, 1999


                                           Dollar                       Units This    Accum.      Accum.
    Date             Transaction           Amount        Unit Value       Trans.      Units       Value

                                  Franklin Global Communications Securities
<S>           <C>                           <C>            <C>               <C>        <C>       <C>
12-31-89      Purchase                      $1,000.00      $12.00985184      83.265     83.265    $1,000.00
12-31-99      Current Value                                 38.91678151       0.000     83.265     3,240.40
              Cumulative Total Return                                                               224.04% A
              Average Annual Total Return                                                            12.48% B

                                    Franklin Growth and Income Securities
12-31-89      Purchase                      $1,000.00      $10.17968496      98.235     98.235    $1,000.00
12-31-99      Current Value                                 26.14748139       0.000     98.235     2,568.59
              Cumulative Total Return                                                               156.86% A
              Average Annual Total Return                                                             9.89% B

                                             Franklin High Income
12-31-89      Purchase                      $1,000.00      $10.02140026      99.786     99.786    $1,000.00
12-31-99      Current Value                                 20.89988452       0.000     99.786     2,085.53
              Cumulative Total Return                                                               108.55% A
              Average Annual Total Return                                                             7.63% B

                                          Franklin Income Securities
12-31-89      Purchase                      $1,000.00      $10.78314539      92.737     92.737    $1,000.00
12-31-99      Current Value                                 24.32274932       0.000     92.737     2,255.63
              Cumulative Total Return                                                               125.56% A
              Average Annual Total Return                                                             8.47% B

                                            Franklin Money Market
12-31-89      Purchase                      $1,000.00      $10.63670089      94.014     94.014    $1,000.00
12-31-99      Current Value                                 14.86037176       0.000     94.014     1,397.08
              Cumulative Total Return                                                                39.71% A
              Average Annual Total Return                                                             3.40% B

                                             Franklin Real Estate
12-31-89      Purchase                      $1,000.00      $10.36764805      96.454     96.454    $1,000.00
12-31-99      Current Value                                 21.38599208       0.000     96.454     2,062.76
              Cumulative Total Return                                                               106.28% A
              Average Annual Total Return                                                             7.51% B

<FN>
A = (Accumulated Value as of December 31, 1999 - Accum. Value at Purch.)/Accum. Value at Purch.
B = [(A+1)^(1/10 Years)]-1
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                            VALUEMARK INCOME PLUS
                                       Allianz Life Variable Account B
                           Cumulative and Average Annual Total Return Calculations

                                Original Purchase as of Sub-Account Inception
                                    Valuation Date as of December 31, 1999


                                           Dollar                       Units This    Accum.      Accum.
    Date             Transaction           Amount        Unit Value       Trans.      Units       Value

                                  Franklin Global Communications Securities
<S>           <C>                           <C>            <C>              <C>        <C>        <C>
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 38.91678151       0.000    100.000     3,891.68
              Cumulative Total Return                                                               289.17% A
              Average Annual Total Return                                                            13.23% B

                                    Franklin Growth and Income Securities
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 26.14748139       0.000    100.000     2,614.75
              Cumulative Total Return                                                               161.47% A
              Average Annual Total Return                                                             9.18% B

                                             Franklin High Income
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 20.89988452       0.000    100.000     2,089.99
              Cumulative Total Return                                                               109.00% A
              Average Annual Total Return                                                             6.97% B

                                          Franklin Income Securities
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 24.32274932       0.000    100.000     2,432.27
              Cumulative Total Return                                                               143.23% A
              Average Annual Total Return                                                             8.46% B

                                     Franklin Large Cap Growth Securities
5-1-96        Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 20.21840693       0.000    100.000     2,021.84
              Cumulative Total Return                                                               102.18% A
              Average Annual Total Return                                                            21.16% B

                                            Franklin Money Market
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 14.86037176       0.000    100.000     1,486.04
              Cumulative Total Return                                                                48.60% A
              Average Annual Total Return                                                             3.69% B

                                             Franklin Real Estate
1-24-89       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 21.38599208       0.000    100.000     2,138.60
              Cumulative Total Return                                                               113.86% A
              Average Annual Total Return                                                             7.20% B

                                     Franklin Rising Dividends Securities
1-27-92       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 18.84623514       0.000    100.000     1,884.62
              Cumulative Total Return                                                                88.46% A
              Average Annual Total Return                                                             8.32% B

                                              Franklin Small Cap
11-1-95       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 28.35274064       0.000    100.000     2,835.27
              Cumulative Total Return                                                               183.53% A
              Average Annual Total Return                                                            28.41% B

                                          Franklin Value Securities
5-1-98        Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                  7.73575540       0.000    100.000       773.58
              Cumulative Total Return                                                               -22.64% A
              Average Annual Total Return                                                           -14.26% B

                                         Mutual Discovery Securities
11-8-96       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 13.70059906       0.000    100.000     1,370.06
              Cumulative Total Return                                                                37.01% A
              Average Annual Total Return                                                            10.53% B

                                           Mutual Shares Securities
11-8-96       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 13.23680837       0.000    100.000     1,323.68
              Cumulative Total Return                                                                32.37% A
              Average Annual Total Return                                                             9.33% B

                                           Templeton Asset Strategy
5-1-95        Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 14.40812335       0.000    100.000     1,440.81
              Cumulative Total Return                                                                44.08% A
              Average Annual Total Return                                                             8.13% B

                                   Templeton Developing Markets Securities
3-15-94       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 12.18796363       0.000    100.000     1,218.80
              Cumulative Total Return                                                                21.88% A
              Average Annual Total Return                                                             3.47% B

                                         Templeton Growth Securities
3-15-94       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 19.46559691       0.000    100.000     1,946.56
              Cumulative Total Return                                                                94.66% A
              Average Annual Total Return                                                            12.17% B

                                      Templeton International Securities
1-27-92       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 23.02199633       0.000    100.000     2,302.20
              Cumulative Total Return                                                               130.22% A
              Average Annual Total Return                                                            11.09% B

                                  Templeton International Smaller Companies
5-1-96        Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 11.44110306       0.000    100.000     1,144.11
              Cumulative Total Return                                                                14.41% A
              Average Annual Total Return                                                             3.74% B

                                     Templeton Pacific Growth Securities
1-27-92       Purchase                      $1,000.00      $10.00000000     100.000    100.000    $1,000.00
12-31-99      Current Value                                 10.91531713       0.000    100.000     1,091.53
              Cumulative Total Return                                                                 9.15% A
              Average Annual Total Return                                                             1.11% B

<FN>
A = (Accumulated Value as of December 31, 1999 - Accum. Value at Purch.)/Accum. Value at Purch.
B = [(A+1)^(1/Years since Inception)]-1
</FN>
</TABLE>