Exhibit 12.1



GE LIFE AND ANNUITY ASSURANCE COMPANY

Computation of Ratio of Earnings to Fixed Charges

(Dollar amounts in millions)



|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ------------------------ | ----- | - | ---- | - | ------ |  | ---- | ----- | ---- | - | ----- |  | - | ----- | -
|                                                                                                                                                                   |  | Years Ended December 31, |      
|                                                                                                                                                                   |  | 2003                     |       |   | 2002 |   | 2001   |  | 2000 |       | 1999 |  
|Net earnings                                                                                                                                                       |  | $                        | 19.7  |   |      | $ | 115.8  |  | $    | 123.9 |      | $ | 163.1 |  | $ | 112.9 |  
|Provision for income taxes                                                                                                                                         |  |                          | (3.1  | ) |      |   | 42.9   |  |      | 70.1  |      |   | 72.9  |  |   | 56.6  |  
|Cumulative effect of change in accounting principle                                                                                                                |  |                          |      |   |      |   |       |  |      | 5.7   |      |   |      |  |   | (5.0  | )
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Earnings before income taxes and cumulative effect of change in accounting principle                                                                               |  |                          | 16.6  |   |      |   | 158.7  |  |      | 199.7 |      |   | 236.0 |  |   | 164.5 |  
|Fixed charges:                                                                                                                                                     |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Interest                                                                                                                                                           |  |                          | 0.1   |   |      |   | 0.1    |  |      | 2.2   |      |   | 1.1   |  |   | 1.9   |  
|Interest portion of net rentals                                                                                                                                    |  |                          | 1.0   |   |      |   | 1.0    |  |      | 1.8   |      |   | 1.7   |  |   | 1.2   |  
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Subtotal                                                                                                                                                           |  |                          | 1.1   |   |      |   | 1.1    |  |      | 4.0   |      |   | 2.8   |  |   | 3.1   |  
|Interest credited to contractholders                                                                                                                               |  |                          | 410.6 |   |      |   | 462.1  |  |      | 533.8 |      |   | 532.6 |  |   | 440.8 |  
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Total fixed charges                                                                                                                                                |  |                          | 411.7 |   |      |   | 463.2  |  |      | 537.8 |      |   | 535.4 |  |   | 443.9 |  
|Earnings, before income taxes and cumulative effect of change in accounting principle available for fixed charges (including interest credited
to contractholders) |  | $                        | 428.3 |   |      | $ | 621.9  |  | $    | 737.5 |      | $ | 771.4 |  | $ | 608.4 |  
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Earnings, before income taxes and cumulative effect of change in accounting principle available for fixed charges (excluding interest credited
to contractholders) |  | $                        | 17.7  |   |      | $ | 159.8  |  | $    | 203.7 |      | $ | 238.8 |  | $ | 167.6 |  
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  
|Ratio of earnings to fixed charges (including interest credited to contractholders)                                                                                |  |                          | 1.04  |   |      |   | 1.34   |  |      | 1.37  |      |   | 1.44  |  |   | 1.37  |  
|Supplemental Ratio (excluding interest credited to contractholders)                                                                                                |  |                          | 16.09 |   |      |   | 145.27 |  |      | 50.93 |      |   | 85.29 |  |   | 54.06 |  
|                                                                                                                                                                   |  |                          |       |   |      |   |        |  |      |       |      |   |       |  |   |       |  



For purposes of
computing the ratios, fixed charges consist of interest on all indebtedness and one-third of rentals, which management believes is a reasonable approximation of the interest factor of such rentals.