SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    ---------

                                    FORM 10-Q

(Mark One)
[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

         For the quarterly period ended             March 31, 2002
                                       -----------------------------------------

                                       OR

[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

         For the transition period from                   to
                                       ------------------     ------------------

Commission file number    33-87272,  333-51353, 333-28765, 333-28681, 333-28743,
                          ------------------------------------------------------
                          333-51949, 333-65009, 333-66745, 333-76941, 333-76945,
                          ------------------------------------------------------
                          333-35592, 333-95511, 333-30186, 333-40596, 333-33924,
                          ------------------------------------------------------
                          333-95457, 333-59386, 333-59398, 333-59408, 333-52320
                          ------------------------------------------------------
                          333-57212, 333-63694, 333-67660, 333-68138, 333-70602
                          ------------------------------------------------------
                          333-76150, 333-84394, 333-87152
                          -------------------------------



                     GOLDEN AMERICAN LIFE INSURANCE COMPANY
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

Delaware                                             41-0991508
--------------------------------------------------------------------------------
(State or other jurisdiction of           (IRS employer identification no.)
 incorporation or organization)

1475 Dunwoody Drive, West Chester, Pennsylvania              19380-1478
--------------------------------------------------------------------------------
(Address of principal executive offices)                     (Zip code)

Registrant's telephone number, including area code (610) 425-3400
                                                   -----------------------------


--------------------------------------------------------------------------------
              Former name, former address and formal fiscal year,
                          if changed since last report


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]


                     APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest  practicable date:

As of May  13,  2002,  250,000  shares  of  Common  Stock,  $10 Par  Value,  are
authorized, issued and outstanding.
As of May 13, 2002,  50,000  shares of  Preferred  Stock,  $5000 Par Value,  are
authorized.

NOTE:  WHEREAS GOLDEN  AMERICAN LIFE INSURANCE  COMPANY MEETS THE CONDITIONS SET
FORTH IN GENERAL  INSTRUCTION  H(1)(a)  AND (b) OF FORM 10Q,  THIS FORM IS BEING
FILED WITH THE REDUCED DISCLOSURE FORMAT PURSUANT TO GENERAL INSTRUCTION H(2).

Exhibit index - Page 21                                             Page 1 of 33

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                                                        FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

Person for whom the Financial Information is given:                 Golden American Life Insurance Company

Condensed Consolidated Statements of Income (Unaudited):

                                                                      For the Three              For the Three
                                                                       Months Ended               Months Ended
                                                                     March 31, 2002             March 31, 2001
                                                               -------------------------------------------------------
                                                                                 (DOLLARS IN THOUSANDS)
<S>                                                                         <C>                        <C>
   Revenues:
      Contract and other charges assessed against
        policyholders                                                       $45,044                    $40,857
      Management fee revenue                                                  6,734                      6,131
      Net investment income                                                  33,357                     19,412
      Net realized capital losses                                           (15,713)                    (1,963)
                                                               -------------------------------------------------------
                                                                             69,422                     64,437

   Benefits and expenses:
      Benefits:
        Interest credited and other benefits to policyholders                55,332                     42,009
      Underwriting, acquisition, and insurance expenses:
        Commissions                                                             214                        514
        Commissions - affiliates                                             64,001                     55,884
        General expenses                                                     38,761                     27,221
        Policy acquisition costs deferred                                   (61,773)                    13,419
        Amortization:
          Deferred policy acquisition costs                                     535                     16,528
          Value of business acquired                                           (669)                       492
          Goodwill (NOTE 2)                                                      --                      1,056
        Expense and charges reimbursed under modified
          coinsurance agreements                                                208                       (880)
        Expense and charges reimbursed under modified
          coinsurance agreements - affiliates                               (28,725)                  (110,705)
     Interest expense                                                         4,720                      4,743
                                                               -------------------------------------------------------
                                                                             72,604                     50,281
                                                               -------------------------------------------------------
   Income (loss) before income taxes                                         (3,182)                    14,156

   Income taxes                                                                (985)                     5,223
                                                               -------------------------------------------------------

   Net income (loss)                                                        $(2,197)                    $8,933
                                                               =======================================================


SEE ACCOMPANYING NOTES


                                                                 2
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Condensed Consolidated Balance Sheets (Unaudited):
                                                                                  March 31, 2002          December 31, 2001
                                                                              ------------------------------------------------
                                                                                (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                                                                  <C>                     <C>
ASSETS
Investments:
  Fixed maturities, available for sale, at fair value
    (cost:  2002 - $2,342,463; 2001 - $1,982,527)                                     $2,327,405              $1,994,913
  Equity securities, at fair value (cost: 2002 - $74; 2001 - $74)                             55                      55
  Mortgage loans on real estate                                                          222,593                 213,883
  Policy loans                                                                            15,524                  14,847
  Short-term investments                                                                  72,984                  10,021
                                                                              ------------------------------------------------
Total investments                                                                      2,638,561               2,233,719
Cash and cash equivalents                                                                183,037                 195,726
Reinsurance recoverable                                                                   21,846                  27,151
Reinsurance recoverable from affiliates                                                   38,400                  28,800
Due from affiliates                                                                       19,992                      20
Accrued investment income                                                                 27,214                  22,771
Deferred policy acquisition costs                                                        786,906                 709,042
Value of business acquired                                                                22,323                  20,203
Current income taxes recoverable                                                           8,623                     400
Property and equipment, less allowances for depreciation of
  $11,515 in 2002 and $10,624 in 2001                                                      9,546                  10,468
Goodwill, less accumulated amortization of $17,600 in 2002 and 2001                      151,363                 151,363
Receivable for securities sold                                                           242,758                   8,509
Other assets                                                                               4,613                   4,279
Separate account assets                                                               11,640,123              10,958,191
                                                                              ------------------------------------------------
Total assets                                                                         $15,795,305             $14,370,642
                                                                              ================================================

LIABILITIES AND STOCKHOLDER'S EQUITY
Policy liabilities and accruals:
    Future policy benefits and claims reserves                                        $2,553,750              $2,178,189
    Unearned revenue reserve                                                               5,994                   6,241
    Other policy claims and benefits                                                       1,237                     836
                                                                              ------------------------------------------------
                                                                                       2,560,981               2,185,266
Surplus notes                                                                            245,000                 245,000
Revolving note payable                                                                        --                   1,400
Due to affiliates                                                                         11,173                  25,080
Deferred income tax liability                                                             17,803                  12,612
Payable for securities purchased                                                         319,042                  36,283
Dollar roll obligations                                                                   63,257                   3,951
Other liabilities                                                                        129,612                  85,030
Separate account liabilities                                                          11,640,123              10,958,191
                                                                              ------------------------------------------------
                                                                                      14,986,991              13,552,813
Commitments and contingencies

Stockholder's equity:
  Preferred stock, par value $5,000 per share, authorized 50,000 shares                       --                      --
  Common stock, par value $10 per share, authorized, issued,
    and outstanding  250,000 shares                                                        2,500                   2,500
  Additional paid-in capital                                                             780,436                 780,436
  Accumulated other comprehensive income (loss)                                           (3,514)                  3,804
  Retained earnings                                                                       28,892                  31,089
                                                                              ------------------------------------------------
Total stockholder's equity                                                               808,314                 817,829
                                                                              ------------------------------------------------
Total liabilities and stockholder's equity                                           $15,795,305             $14,370,642
                                                                              ================================================


SEE ACCOMPANYING NOTES


                                                                 3
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Condensed Consolidated Statements of Changes in Stockholder's Equity(Unaudited):
(DOLLARS IN THOUSANDS)


                                                                                      Accumulated
                                                                    Additional              Other                         Total
                                                         Common        Paid-in      Comprehensive     Retained    Stockholder's
                                                          Stock        Capital      Income (Loss)     Earnings           Equity
                                                    ----------------------------------------------------------------------------
<S>                                                      <C>         <C>                 <C>          <C>              <C>
Balance at December 31, 2000                             $2,500      $583,640            $(4,046)     $35,043          $617,137
   Comprehensive income:
     Net loss                                                --            --                 --       (3,954)           (3,954)
     Change in net unrealized investment
       gains                                                 --            --              7,850           --             7,850
                                                                                                                ----------------
   Comprehensive income                                                                                                   3,896
   Contribution of capital                                   --       196,796                 --           --           196,796
                                                    ----------------------------------------------------------------------------
Balance at December 31, 2001                             $2,500      $780,436             $3,804      $31,089          $817,829
   Comprehensive income:
     Net loss                                                --            --                 --       (2,197)           (2,197)
     Change in net unrealized investment
       losses                                                --            --             (7,318)          --            (7,318)
                                                                                                                ----------------
   Comprehensive loss                                                                                                    (9,515)
                                                    ----------------------------------------------------------------------------
Balance at March 31, 2002                                $2,500      $780,436            $(3,514)     $28,892          $808,314
                                                    ============================================================================



SEE ACCOMPANYING NOTES


                                                                 4
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Condensed Consolidated Statements of Cash Flows (Unaudited):

                                                                                   For the Three          For the Three
                                                                                    Months Ended           Months Ended
                                                                                  March 31, 2002         March 31, 2001
                                                                            -------------------------------------------------
                                                                                           (DOLLARS IN THOUSANDS)

<S>                                                                                  <C>                       <C>
NET CASH PROVIDED BY OPERATING ACTIVITIES                                              $127,400                $107,617

INVESTING ACTIVITIES
Proceeds from sales of investments:
   Fixed maturities - available for sale                                              1,275,674                  64,361

Investment maturities, repayments or collections:
   Fixed maturities - available for sale                                                 49,297                  24,355
   Mortgage loans on real estate                                                          3,614                     886
                                                                            -------------------------------------------------
                                                                                         52,911                  25,241
Acquisition of investments:
   Fixed maturities - available for sale                                             (1,700,768)               (406,749)
   Mortgage loans on real estate                                                        (12,398)                     --
   Policy loans - net                                                                      (562)                   (172)
   Short-term investments - net                                                         (62,963)                     --
                                                                            -------------------------------------------------
                                                                                     (1,776,691)               (406,921)
Net sale of property and equipment                                                           63                     111
                                                                            -------------------------------------------------
Net cash used in investing activities                                                  (448,043)               (317,208)

FINANCING ACTIVITIES
Proceeds from reciprocal loan agreement borrowings                                        8,500                  29,300
Repayment of reciprocal loan agreement borrowings                                        (8,500)                (29,300)
Proceeds from revolving note payable                                                     (1,400)                  1,400
Investment contract deposits                                                            671,367                 444,841
Investment contract withdrawals                                                         (36,269)                (34,220)
Investment contract transfers                                                          (325,744)               (176,098)
                                                                            -------------------------------------------------
Net cash provided by financing activities                                               307,954                 235,923
                                                                            -------------------------------------------------

Increase (decrease) in cash and cash equivalents                                        (12,689)                 26,332

Cash and cash equivalents at beginning of period                                        195,726                 164,682
                                                                            -------------------------------------------------

Cash and cash equivalents at end of period                                             $183,037                $191,014
                                                                            =================================================


SEE ACCOMPANYING NOTES


                                                                 5
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NOTE 1 -- BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information  and the  instructions  to Form  10-Q and  Article  10 of
Regulation S-X. Accordingly,  the financial statements do not include all of the
information and footnotes required by generally accepted  accounting  principles
for  complete   financial   statements.   These  interim  financial   statements
necessarily  rely heavily on estimates,  including  assumptions as to annualized
tax rates. In the opinion of management,  all adjustments  considered  necessary
for a fair  presentation  have been included.  All adjustments  were of a normal
recurring nature, unless otherwise noted in Management's Discussion and Analysis
and the Notes to Financial  Statements.  Operating  results for the three months
ended March 31, 2002 are not  necessarily  indicative of the results that may be
expected for the year ending December 31, 2002.

These  financial  statements  should be read in  conjunction  with the financial
statements and related footnotes  included in the Golden American Life Insurance
Company's annual report on Form 10-K for the year ended December 31, 2001.

ORGANIZATION
Golden American is a wholly owned subsidiary of Equitable Life Insurance Company
of Iowa  ("Equitable  Life" or the  "Parent").  Equitable Life is a wholly owned
subsidiary  of Equitable of Iowa  Companies,  Inc.  (EIC),  which is an indirect
wholly owned subsidiary of ING Groep N.V., a global  financial  services holding
company based in The Netherlands.

CONSOLIDATION
The  consolidated  financial  statements  include Golden American Life Insurance
Company ("Golden American") and its former wholly owned subsidiary, First Golden
American Life Insurance  Company of New York ("First  Golden," and  collectively
with Golden American,  the "Companies").  All significant  intercompany accounts
and transactions have been eliminated.

As of April 1, 2002,  First  Golden was merged  into  Reliastar  Life  Insurance
Company of New York ("RLNY").

STATUTORY
The net loss for Golden  American as  determined in  accordance  with  statutory
accounting  practices  was $28.7  million and $77.3 million for the three months
ended March 31, 2002 and 2001, respectively. Total statutory capital and surplus
was $296.9 million at March 31, 2002 and $451.6 million at December 31, 2001.

RECLASSIFICATIONS
Certain  reclassifications  have been made to the 2001 information to conform to
the 2002 financial statement presentation.

NOTE 2 - NEW ACCOUNTING STANDARDS

In June 2001,  the Financial  Accounting  Standards  Board issued  Statements of
Financial  Accounting Standards No. 141, "Business  Combinations",  and No. 142,
"Goodwill and Other  Intangible  Assets,"  effective for fiscal years  beginning
after December 15, 2001. Under the new standards, goodwill and intangible assets
deemed to have indefinite  lives will no longer be amortized but will be subject
to annual  impairment tests in accordance with the Statements.  Other intangible
assets are still amortized over their estimated useful lives.

The Companies adopted the new standards  effective January 1, 2002.  Application
of the  nonamortization  provisions of the new standards resulted in an increase
in net  income  of $1.1  million  for the three  months  ended  March 31,  2002;
however,  the Companies are still evaluating the impact of the adoption of these
standards.  The Companies are  performing  the first of the required  impairment
tests for goodwill as of January 1, 2002 and will complete this  calculation  as
required by June 30, 2002.  The Companies  have not yet determined the effect of
adoption on their financial position and results of operations.


                                       6
<PAGE>


Had the  Companies  been  accounting  for  goodwill  under  SFAS No. 142 for all
periods presented, the Companies' net income would have been as follows:

                                                 For The Three Months
                                                 Ended March 31, 2001
                                                    (IN THOUSANDS)
   ---------------------------------------------------------------------

   Reported net income                                      $8,933

   Add back goodwill amortization                            1,056
                                               -------------------------

   Adjusted net income                                      $9,989
                                               =========================

NOTE 3 -- INVESTMENTS

INVESTMENT VALUATION ANALYSIS: The Companies analyze the investment portfolio at
least  quarterly in order to determine if the carrying  value of any  investment
has been impaired.  The carrying value of debt and equity  securities is written
down to fair  value by a charge to  realized  losses  when  impairment  in value
appears to be other than temporary.

During the first quarter of 2002,  Golden American  determined that the carrying
value of seven bonds exceeded their estimated net realizable value. As a result,
at March 31, 2002,  Golden American  recognized a total pre-tax loss of $447,000
to reduce the carrying value of the bonds to their combined net realizable value
of $557,000.  During the first quarter of 2001, Golden American  determined that
the carrying value of three bonds exceeded their estimated net realizable value.
As a result, at March 31, 2001, Golden American  recognized a total pre-tax loss
of  $679,000 to reduce the  carrying  value of the bonds to their  combined  net
realizable value of $389,000.

DOLLAR ROLL  AGREEMENTS:  In 2001, the Companies began entering into dollar roll
agreements to increase the return on investments  and improve  liquidity.  These
transactions  involve a sale of  securities by the Companies and an agreement to
repurchase substantially the same securities as those sold, typically within one
month. The dollar roll agreements are accounted for as short-term collateralized
financings.  The repurchase  obligations totalled $63.3 million and $4.0 million
at March 31, 2002 and December  31, 2001,  respectively.  Such  borrowings  were
collaterized by investment  securities with fair values  approximately  equal to
loan value. The primary risk associated with short-term  collaterized borrowings
is that the  counterparty  will be  unable  to  perform  under  the terms of the
contract.  The  Companies'  exposure  is  limited  to  the  excess  of  the  net
replacement cost of the securities over the value of the short-term investments,
an amount that was not material at March 31, 2002 and  December  31,  2001.  The
Companies  believe the  counterparties to dollar roll agreements are financially
responsible and that the counterparty risk is minimal.

NOTE 4 -- DERIVATIVE INSTRUMENTS

The Companies may from time to time utilize  various  derivative  instruments to
manage interest rate and price risk  (collectively,  market risk). The Companies
have appropriate  controls in place,  and financial  exposures are monitored and
managed by the Companies as an integral  part of their  overall risk  management
program. Derivatives are recognized on the balance sheet at their fair value. At
March 31, 2002, the Companies did not utilize any such derivatives.

The  estimated  fair  values and  carrying  amounts of the  Companies'  embedded
derivatives  at March 31, 2002 were $3.6 million  ($3.1  million at December 31,
2001) on a direct basis, before  reinsurance,  and $0, net of reinsurance ($0 at
December 31, 2001).


                                       7
<PAGE>


The fair value of these instruments was estimated based on quoted market prices,
dealer quotations or internal estimates.

NOTE 5 -- RELATED PARTY TRANSACTIONS

OPERATING AGREEMENTS: Directed Services, Inc. ("DSI"), an affiliate, acts as the
principal  underwriter  (as  defined  in the  Securities  Act of  1933  and  the
Investment  Company Act of 1940,  as amended)  and  distributor  of the variable
insurance  products  issued by the  Companies.  DSI is  authorized to enter into
agreements with  broker/dealers  to distribute the Companies'  variable products
and appoint  representatives of the broker/dealers as agents. The Companies paid
commissions  to DSI totaling  $64.0  million and $55.9  million for the quarters
ended March 31, 2002 and 2001, respectively.

Golden American provides certain managerial and supervisory services to DSI. The
fee paid by DSI for these  services is  calculated  as a  percentage  of average
assets in the variable separate accounts.  For the quarters ended March 31, 2002
and 2001, the fee was $6.3 million and $5.7 million, respectively.

Golden American has expense  sharing  agreements with certain of its affiliates.
Golden  American has an expense  sharing  agreement  with ING America  Insurance
Holdings,  Inc.  ("ING  AIH") for  administrative,  management,  financial,  and
information  technology  services.  Under these  agreements with ING AIH, Golden
American incurred expenses of $13.2 million for the quarter ended March 31, 2002
($10.8 million for the quarter ended March 31, 2001).

Golden  America has an expense  sharing  agreement  with ING Life  Insurance and
Annuity Company ("ILIAC") for  administrative,  management,  training,  customer
service, information technology, and distribution services. Under this agreement
with ILIAC,  Golden American's  general expenses were reduced by a net amount of
$6.0  million  for the quarter  ended  March 31, 2002 ($0 for the quarter  ended
March 31, 2001).

For the quarter ended March 31, 2002, the Companies  received  premiums,  net of
reinsurance, for variable products sold through eight affiliates,  Locust Street
Securities, Inc., Vestax Securities Corporation, DSI, Multi-Financial Securities
Corporation,  IFG Network Securities,  Inc., Washington Square Securities, Inc.,
PrimeVest  Financial  Services,  Inc., and Compulife Investor Services,  Inc. of
$23.9 million, $8.6 million,  $0.6 million,  $8.0 million,  $5.8 million,  $44.8
million, $27.0 million and $0.0,  respectively ($9.4 million, $3.8 million, $0.1
million,  $3.1  million,  $1.6  million,  $7.3  million,  $3.1  million and $1.5
million, respectively, for the same period of 2001).

MODIFIED  COINSURANCE  AGREEMENT:  On June 30, 2000,  effective January 1, 2000,
Golden  American  entered into a modified  coinsurance  agreement with Equitable
Life,  an  affiliate,  covering  a  considerable  portion  of Golden  American's
variable  annuities issued on or after January 1, 2000,  excluding those with an
interest  rate  guarantee.  The  financial  statements  are presented net of the
effects of the agreement.

Under this agreement,  Golden American  received a net reimbursement of expenses
and charges of $28.7 million in the first quarter of 2002 ($110.7 million in the
first quarter of 2001). This was offset by decreased deferred  acquisition costs
of $38.2 million  ($108.1  million in the first  quarter of 2001).  At March 31,
2002,  Golden American had a receivable from Equitable Life of $20.2 million due
to the timing of the cash settlement for the modified coinsurance agreement.  As
of December 31, 2001,  Golden  American had a payable to Equitable Life of $22.6
million under the agreement due to the overpayment by Equitable Life of the cash
settlement for the modified coinsurance agreement.

REINSURANCE  AGREEMENT  COVERING MINIMUM  GUARANTEED  BENEFITS:  On December 28,
2000, Golden American entered into a reinsurance agreement with Security Life of
Denver International Limited ("SLDI"),  an affiliate,  covering variable annuity
minimum  guaranteed  death benefits and minimum  guaranteed  living  benefits of
variable  annuities issued on or after January 1, 2000. An irrevocable letter of
credit was  obtained  through  Bank of New York in the  amount of $25.0  million
related to this  agreement.  Effective  December 24, 2001,  the letter of credit


                                        8
<PAGE>


amount was revised to $70 million,  and effective  March 29, 2002, the letter of
credit amount was revised to $75 million. Under this agreement,  Golden American
recorded a reinsurance recoverable of $38.4 million at March 31, 2002, and $28.8
million at December 31, 2001.

NOTE 6 -- COMMITMENTS AND CONTINGENCIES

REINSURANCE:  Golden American remains liable to the extent its reinsurers do not
meet their obligations under the reinsurance  agreements.  At March 31, 2002 and
December 31, 2001, the Companies had net  receivables of $60.2 million and $56.0
million,  respectively,  for  reinsurance  claims,  reserve  credits,  or  other
receivables  from these  reinsurers.  At March 31, 2002 and  December  31, 2001,
respectively,  these net  receivables  were  comprised  of $2.8 million and $7.8
million,  respectively, for claims recoverable from reinsurers, $3.7 million and
$3.4  million,  respectively,  for a payable  for  reinsurance  premiums,  $38.4
million and $28.8 million,  respectively, for reserve credits, and $22.7 million
and $22.7  million,  respectively,  for reinsured  surrenders and allowances due
from  an  unaffiliated   reinsurer.   Included  in  the  accompanying  financial
statements,   excluding   the   modified   coinsurance   agreements,   are   net
considerations  to  reinsurers  of $13.4  million for the first  quarter of 2002
compared  to $6.7  million  for the same  period in 2001.  Also  included in the
accompanying financial statements are net policy benefits recoveries of $10.1 in
the first quarter of 2002 compared to $3.4 million for same period in 2001.

Under  the  modified  coinsurance  agreement  which  Golden  American  has  with
Equitable Life, disclosed in NOTE 5, Golden American received a total settlement
of $28.7 million  pertaining to the first quarter of 2002 ($110.7 million in the
first quarter of 2001). The carrying value of the separate  account  liabilities
covered  under  this  agreement   represent  32.5%  of  total  separate  account
liabilities  outstanding at March 31, 2002 (31.9% at December 31, 2001).  Golden
American  remains  liable  to the  extent  Equitable  Life  does  not  meet  its
obligations  under the  agreement.  The  accompanying  financial  statements are
presented net of the effects of the agreement.

INVESTMENT  COMMITMENTS:  At March 31, 2002 and December  31, 2001,  outstanding
commitments  to fund  mortgage  loans  totaled  $1.0  million and $3.2  million,
respectively.  At March 31, 2002 and December 31, 2001, outstanding  commitments
to fund fixed maturities totaled $10.6 million and $22.0 million, respectively.

LITIGATION:  The  Companies,  like other  insurance  companies,  may be named or
otherwise   involved  in  lawsuits,   including   class   action   lawsuits  and
arbitrations.  In some  class  action  and  other  actions  involving  insurers,
substantial  damages  have  been  sought  and/or  material  settlement  or award
payments  have  been  made.  The  Companies  currently  believe  no  pending  or
threatened  lawsuits  or  actions  exist  that are  reasonably  likely to have a
material adverse impact on the Companies.

VULNERABILITY FROM CONCENTRATIONS:  The Companies have various concentrations in
the investment portfolio.  As of March 31, 2002, the Companies had 2 investments
(other than bonds issued by agencies of the United States government)  exceeding
ten percent of stockholder's equity. The Companies' asset growth, net investment
income,  and  cash  flow are  primarily  generated  from  the  sale of  variable
insurance  products and associated  future policy benefits and separate  account
liabilities. Substantial changes in tax laws that would make these products less
attractive  to consumers  and extreme  fluctuations  in interest  rates or stock
market returns,  which may result in higher lapse experience than assumed, could
cause a severe impact on the Companies'  financial  condition.  The Premium Plus
product  generated 27% of the Companies'  sales during the first quarter of 2002
(50% in the same period of 2001).

NOTE 7 - SUBSEQUENT EVENT:  MERGER OF FIRST GOLDEN INTO RLNY

On April 1, 2002,  First Golden was merged into RLNY.  ReliaStar  Life Insurance
Company ("ReliaStar"), the parent of Security-Connecticut Life Insurance Company
("Security-Connecticut"),  who in turn is the  parent  of RLNY,  paid to  Golden
American the preliminary  merger  consideration of $27.7 million in exchange for
100% of the  shares  of First  Golden.  ReliaStar  contributed  First  Golden to
Security-Connecticut  who in turn  contributed  First Golden to RLNY.  The final
merger consideration of First Golden will be the fair market value as determined


                                       9
<PAGE>


by the first quarter statutory  financial  statement and will be recorded in the
second quarter of 2002.  Approval for the merger was obtained from the Insurance
Departments of the States of New York and Delaware.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS.

The  purpose of this  section is to discuss  and analyze  Golden  American  Life
Insurance  Company's  ("Golden  American")  condensed  consolidated  results  of
operations.  In addition,  some  analysis and  information  regarding  financial
condition  and  liquidity and capital  resources  has also been  provided.  This
analysis  should  be read  jointly  with the  condensed  consolidated  financial
statements,   the  related  notes,  and  the  Cautionary   Statement   Regarding
Forward-Looking  Statements,  which  appear  elsewhere  in this  report.  Golden
American  reports  financial  results on a  consolidated  basis.  The  condensed
consolidated  financial  statements  include the accounts of Golden American and
its subsidiary, First Golden American Life Insurance Company of New York ("First
Golden," and collectively with Golden American, the "Companies").

Golden American is a wholly owned subsidiary of Equitable Life Insurance Company
of Iowa  ("Equitable  Life" or the  "Parent").  Equitable Life is a wholly owned
subsidiary  of Equitable of Iowa  Companies,  Inc.  ("EIC") which is an indirect
wholly owned subsidiary of ING Groep N.V. ("ING"),  a global financial  services
holding company based in The Netherlands.

RESULTS OF OPERATIONS
---------------------

<TABLE>
<CAPTION>
PREMIUMS

                                                                                 Percentage            Dollar
Three Months ended March 31                                          2002          Change              Change          2001
-------------------------------------------------------------------------------------------------------------------------------
                                                                                    (DOLLARS IN MILLIONS)
<S>                                                                 <C>             <C>                <C>           <C>
Variable annuity premiums:
   Separate account........................................         $326.4          260.4%             $529.9        $(203.5)
   General account.........................................          669.2           53.0               231.8          437.4
                                                               ----------------------------------------------------------------
Total variable annuity premiums............................          995.6          325.7               761.7          233.9
Fixed annuity premiums.....................................            0.7           75.0                 0.3            0.4
Variable life premiums.....................................            0.2          (33.3)               (0.1)           0.3
                                                               ----------------------------------------------------------------
Total premiums.............................................         $996.5          324.8%             $761.9         $234.6
                                                               ================================================================

</TABLE>
For the Companies'  variable and fixed insurance  contracts,  premiums collected
are not reported as revenues, but as deposits to insurance liabilities. Revenues
for these products are recognized over time in the form of investment spread and
product charges.

Variable annuity premiums net of reinsurance increased $761.7 million during the
first three months of 2002 as compared to the same period in 2001. This increase
is primarily due to the reduction of ceded  variable  annuity  separate  account
premiums related to the modified coinsurance  agreement with Equitable Life from
$815.7  million  in the first  quarter  of 2001 to $264.1  million  in the first
quarter of 2002. Also  contributing to the increase in variable annuity premiums
were sales of new variable  annuity  products of $281.8 million during the first
quarter of 2002, including GoldenSelect Landmark,  Multi-Rate Index, SmartDesign
Advantage,  SmartDesign Variable Annuity, and Retirement  Solutions-ING Rollover
Choice.

Premiums,  net  of  reinsurance,   for  variable  products  from  a  significant
broker/dealer  having at least ten  percent of total  sales for the first  three
months of 2002 totaled $106.4 million (11% of total premiums), compared to $23.0
million  (10%) from a  significant  broker/dealer  for the same  period in 2001.
Gross premiums for variable products from a significant broker/dealer (having at
least ten percent of total  sales) for the first three  months in 2002,  totaled
$139.3 million (11%) of total gross  premiums  compared to $114.8 million (11%),
from a significant broker/dealer for the same period in 2001.


                                       10
<PAGE>


<TABLE>
<CAPTION>
REVENUES

                                                                                 Percentage          Dollar
Three Months ended March 31                                           2002         Change            Change           2001
------------------------------------------------------------------------------------------------------------------------------
                                                                                   (DOLLARS IN MILLIONS)
<S>                                                                  <C>             <C>               <C>           <C>
Contract and other charges assessed against
 policyholders.............................................          $45.0           10.0%             $4.1          $40.9
Management fee revenue.....................................            6.7            9.8               0.6            6.1
Net investment income......................................           33.4           72.2              14.0           19.4
Net realized capital losses................................          (15.7)         685.0             (13.7)          (2.0)
                                                               ---------------------------------------------------------------
                                                                     $69.4            7.8%             $5.0          $64.4
                                                               ===============================================================
</TABLE>

Total revenues  increased 7.8% in the first quarter of 2002 from the same period
in 2001.  Contract and other charges  assessed against  policyholders  increased
$4.1 million or 10.0% in the first quarter of 2002,  primarily due to additional
fees earned from the higher  average  level of assets in the  variable  separate
accounts.

Golden American provides certain managerial and supervisory services to Directed
Services, Inc. ("DSI"), a wholly owned subsidiary of EIC. The fee paid to Golden
American for these  services,  which is  calculated  as a percentage  of average
assets in the variable separate accounts,  was $6.3 million and $5.7 million for
the first  quarters of 2002 and 2001,  respectively.  This  increase  was due to
increased average assets in the variable separate accounts.

Net investment  income  increased $14.0 million or 72.2% in the first quarter of
2002 from the same period in 2001.  This was due to a growth in invested  assets
backing the general account variable products.

For the first three  months of 2002,  the  Companies  had net  realized  capital
losses on investments  of $15.7  million,  mainly due to capital losses of $15.3
million from the sale of fixed maturities. The Companies also had write downs of
$447,000 from seven impaired fixed maturities.

EXPENSES

Total benefits and expenses increased 47.5%, or $22.3 million,  to $72.6 million
in  the  first  quarter  of  2002.  Interest  credited  and  other  benefits  to
policyholders  increased 31.7%, or $13.3 million,  to $55.3 million in the first
quarter  of 2002.  This  increase  was  largely  due to higher  average  account
balances  associated with the Companies'  general account options,  as well as a
non-recurring  reinsurance  gain.  This was  partially  offset by lower  premium
credits on the Premium Plus product within the variable separate  accounts.  The
premium credit payments  decreased by $2.9 million due to a decrease in variable
annuity sales of the separate account product.

Commissions increased $7.8 million to $64.2 million in the first three months of
2002  due to  increased  sales  of  the  general  account  options.  Changes  in
commissions are generally related to changes in the level and mix or composition
of fixed and variable product sales.  Most costs incurred as the result of sales
have been deferred, having little impact on current earnings.

General  expenses  increased $11.5 million or 42.7% in the first three months of
2002. The Companies use a network of wholesalers to distribute products, and the
salaries  and  sales  bonuses  of these  wholesalers  are  included  in  general
expenses.  The  portion of these  salaries  and  related  expenses  that  varies
directly  with  production  levels is  deferred,  thus having  little  impact on
current  earnings.   Contributing  to  the  increase  in  general  expenses  are
additional salary and consulting  expenses,  as well as cost allocations  during
the first three months in 2002.  The increase in general  expenses was partially
offset by reimbursements  received from the Companies' affiliates including DSI,
Equitable Life, ING Mutual Funds  Management  Co., LLC,  Security Life of Denver
Insurance Company,  Southland Life Insurance Company,  and United Life & Annuity
Insurance  Company,  for certain  advisory,  computer,  and other  resources and
services provided by the Companies.


                                       11
<PAGE>


Policy acquisition costs deferred are offset in part by the expenses  reimbursed
under modified  coinsurance  agreements.  Policy acquisition costs deferred were
$61.8 million in the first  quarter of 2002,  as compared to ($13.4)  million in
the first quarter of 2001. The change in the amount of policy  acquisition costs
deferred was mainly due to a decrease in the amount of deferred  costs that have
been offset due to modified  coinsurance  agreements  ($38.2  million and $108.1
million for the first quarters of 2002 and 2001, respectively).  Amortization of
deferred policy acquisition costs ("DPAC") decreased $16.0 million, or 97.0%, in
the first quarter of 2002.  The decrease in the  amortization  was mainly due to
the lower net amount of deferred costs.

During the first quarters of 2002 and 2001, value of business  acquired ("VOBA")
was adjusted to decrease amortization by $469,000 and $29,000,  respectively, to
reflect  changes in the  assumptions  related to the timing of  estimated  gross
profits.  Based on current conditions and assumptions as to the impact of future
events on acquired policies in force, the expected  approximate net amortization
relating to VOBA as of March 31, 2002 is $2.6  million for the reminder of 2002,
$2.8 million in 2003,  $2.4 million in 2004,  $1.9 million in 2005, $1.5 million
in 2006,  and $1.3  million  in 2007.  Actual  amortization  may vary based upon
changes in assumptions and experience.

Expenses and charges reimbursed under modified coinsurance  agreements decreased
by $83.1  million  to $28.5  million  during the first  three  months in 2002 as
compared to the same period in 2001.  This  reimbursement  is primarily due to a
modified  coinsurance  agreement,  with  Equitable  Life covering a considerable
portion of Golden  American's  variable  annuities issued after January 1, 2000,
excluding  those  with  an  interest  rate  guarantee.  Under  this  reinsurance
agreement,  $28.7  million and $110.7 in expenses  and charges  were  reimbursed
during the first three months of 2002 and 2001, respectively. This reimbursement
offset deferred policy  acquisition  costs and  non-deferrable  costs related to
policies reinsured under this agreement.

INCOME

Net loss for the first three months of 2002 was $2.2  million,  a decrease  from
net income of $8.9  million  for the same  period in 2001.  The  decrease in net
income is mainly  due to the fact that in the first  quarter  of 2001 there were
some  nonrecurring  reinsurance  gains. In addition,  the proportion of deferred
expenses was lower in 2002 than in 2001.  Comprehensive loss for the first three
months of 2002 was $9.5 million and  comprehensive  income of $14.7  million for
the same  period in 2001.  This  decrease  was partly due to the  decline in net
income and partly related to the change in unrealized  gains and losses on fixed
maturities during the first quarter of 2002 as compared to 2001.

The net loss for Golden  American as  determined in  accordance  with  statutory
accounting  practices was $28.7 million and $77.3 million in the first  quarters
of 2002 and 2001, respectively.  The decrease in statutory loss during the first
quarter of 2002 was mainly due to reduced reserve change resulting from improved
equity market  returns  during the first quarter of 2002 as compared to the same
period in 2001.

Total  statutory  capital and  surplus was $296.9  million at March 31, 2002 and
$451.6  million at December  31,  2001.  The  decrease  in surplus  relates to a
temporary reduction due to a State of Delaware regulatory invesment restriction.

FINANCIAL CONDITION
-------------------

INVESTMENTS

The  financial  statement  carrying  value  and  amortized  cost  basis  of  the
Companies' total  investments  increased 18.1% and 18.2%,  respectively,  in the
first quarter of 2002.  All of the Companies'  investments,  other than mortgage
loans on real  estate,  are  carried at fair value in the  Companies'  financial
statements.  The increase in the  carrying  value of the  Companies'  investment
portfolio  was  mainly  due to net  purchases.  Growth in the cost  basis of the
Companies'  investment  portfolio  resulted from the investment of premiums from
sales of the general  account  products as well as increased  use of the general
account  investment  option  as  part  of the  variable  annuity  products.  The
Companies  manage  the  growth  of  insurance  operations  in order to  maintain
adequate  capital  ratios.  To  support  the  general  account  options  of  the
Companies'  insurance  products,  cash  flow  was  invested  primarily  in fixed
maturities and mortgage loans on real estate.


                                       12
<PAGE>


The Companies'  investments  had an average yield of 6.2% at March 31, 2002. The
Companies estimate the total investment portfolio, excluding policy loans, had a
fair value  approximately  equal to 99.6% of  amortized  cost value at March 31,
2002.

FIXED MATURITIES:  At March 31, 2002, the Companies had fixed maturities with an
amortized  cost and an  estimated  fair  value of $2.3  billion.  The  Companies
classify 100% of securities as available for sale. Net  unrealized  depreciation
of fixed  maturities  of $15.1 million was  comprised of gross  appreciation  of
$22.2 million and gross  depreciation of $37.3 million.  Net unrealized  holding
losses on these securities of $3.5 million were included in stockholder's equity
at March 31, 2002 (net of  adjustments  for VOBA of $0.9 million,  DPAC of $10.7
million, and deferred income taxes of $1.2 million,  offset by a deferred income
taxes valuation allowance of $1.2 million).

The  individual  securities in the  Companies'  fixed  maturities  portfolio (at
amortized cost) include  investment grade securities,  which include  securities
issued by the U.S. government,  its agencies, and corporations that are rated at
least A- by Standard & Poor's  ($1.2  billion or 51.7%),  that are rated BBB+ to
BBB- by Standard & Poor's ($561.6 million or 24.0%),  and below investment grade
securities,  which are securities  issued by corporations that are rated BB+ and
lower by  Standard & Poor's  ($68.5  million or 2.9%).  Securities  not rated by
Standard & Poor's had a National Association of Insurance Commissioners ("NAIC")
rating of 1, 2, 3, 4, or 5, with 1 being the  highest  rating  (totaling  $502.3
million  or  21.4%),  and  investments  with a rating  of 6 on which  impairment
writedowns have been  recognized  ($0.2 million or 0.0%).  The Companies'  fixed
maturity investment  portfolio had a combined yield at amortized cost of 6.4% on
March 31, 2002.

Fixed maturities rated BBB+ to BBB- (24% of the fixed maturities  portfolio) may
have  speculative  characteristics  and changes in economic  conditions or other
circumstances  are more  likely to lead to a weakened  capacity of the issuer to
make  principal  and interest  payments than is the case with higher rated fixed
maturities.

At March 31, 2002, the amortized cost value of the Companies'  total  investment
in below investment grade securities,  excluding mortgage-backed securities, was
$90.8 million, or 3.3%, of the Companies'  investment  portfolio.  The Companies
intend to purchase  additional  below investment  grade  securities,  but do not
expect the percentage of the portfolio invested in such securities to exceed 10%
of the investment  portfolio.  At March 31, 2002, the average yield at amortized
cost on the Companies'  below  investment  grade  portfolio was 8.4% compared to
6.8% for the Companies' investment grade corporate bond portfolio. The Companies
estimate  the fair  value of the  below  investment  grade  portfolio  was $88.5
million, or 97.4% of amortized cost value, at March 31, 2002.

Below investment grade securities have different characteristics than investment
grade  corporate debt  securities.  Risk of loss upon default by the borrower is
significantly  greater with respect to below  investment  grade  securities than
with other corporate debt  securities.  Below  investment  grade  securities are
generally unsecured and are often subordinated to other creditors of the issuer.
Also, issuers of below investment grade securities usually have higher levels of
debt and are more sensitive to adverse economic conditions, such as recession or
increasing  interest  rates,  than are investment  grade issuers.  The Companies
attempt to reduce the overall risk in the below investment  grade portfolio,  as
in all investments,  through careful credit analysis,  strict  investment policy
guidelines, and diversification by issuer and/or guarantor and by industry.

The Companies analyze the investment portfolio, including below investment grade
securities,  at least quarterly in order to determine if the Companies'  ability
to realize the carrying value on any investment has been impaired.  For debt and
equity  securities,  if  impairment  in value  is  determined  to be other  than
temporary  (i.e.,  if it is probable the Companies will be unable to collect all
amounts due according to the contractual terms of the security),  the cost basis
of the impaired  security is written down to fair value,  which  becomes the new
cost basis.  The amount of the  write-down is included in earnings as a realized
loss.  Future  events may occur,  or additional  or updated  information  may be
received,  which  may  necessitate  future  write-downs  of  securities  in  the
Companies'  portfolio.   Significant   write-downs  in  the  carrying  value  of
investments  could  materially  adversely  affect the  Companies'  net income in
future periods.


                                       13
<PAGE>


During the first quarter of 2002, fixed  maturities  designated as available for
sale with a combined amortized cost of $1.3 billion were sold, called, or repaid
by their issuers. In total, net pre-tax losses from sales, calls, and repayments
of fixed maturities amounted to $15.3 million during the first quarter of 2002.

During the first quarter of 2002,  Golden American  determined that the carrying
value of seven impaired fixed maturity  investments exceeded their estimated net
realizable value. As a result, during the first quarter of 2002, Golden American
recognized  a total  pre-tax  loss of  approximately  $0.4 million to reduce the
carrying  value  of  all  impaired  fixed  maturity  investments  to  their  net
realizable value of $0.6 million.

At March 31, 2002, the Companies had nine fixed maturity investments in default.

MORTGAGE LOANS ON REAL ESTATE:  Mortgage loans on real estate  represent 8.2% of
the Companies'  investment  portfolio.  Mortgages  outstanding at amortized cost
were  $222.6  million at March 31, 2002 with an  estimated  fair value of $226.0
million.  The  Companies'  mortgage  loan  portfolio  includes  82 loans with an
average size of $2.7 million.  The Companies'  mortgage loans on real estate are
typically secured by occupied buildings in major metropolitan  locations and are
diversified by type of property and geographic location.

At March 31, 2002, no mortgage loan on real estate was  delinquent by 90 days or
more.  The Companies'  loan  investment  strategy is consistent  with other life
insurance  subsidiaries  of  ING  in  the  United  States.  The  Companies  have
experienced a historically low default rate in their mortgage loan portfolios.

OTHER ASSETS

Reinsurance  recoverables  increased  $4.3 million  during the first  quarter of
2002, due largely to an increase of $9.6 million in reinsurance reserves from an
intercompany  reinsurance agreement between Golden American and Security Life of
Denver International  Limited ("SLDI").  On December 28, 2000, effective January
1, 2000,  Golden  American  entered into a reinsurance  agreement  with SLDI, an
affiliate,  covering  variable  annuity  minimum  guaranteed  death benefits and
minimum  guaranteed living benefits.  Negative equity market returns during 2002
led to the increase in the reinsurance reserves under this agreement.

Amounts due from affiliates were $20.0 million and $20,000 at March 31, 2002 and
December  31,  2001,  respectively.  At March  31,  2002,  the  Companies  had a
receivable of $22.6 million from Equitable Life related to the  overpayment  for
the amounts due under the modified coinsurance agreement.

Accrued  investment  income increased $4.4 million during the first three months
of 2002, due to an increase in investments in fixed maturities  during the first
three months of 2002, which lead to an increase in investment  income from fixed
maturities.

DPAC  represents  certain  deferred  costs  of  acquiring   insurance  business,
principally  first year commissions and interest bonuses,  premium credits,  and
other expenses  related to the  production of business.  Any expenses which vary
directly with the sales of the  Companies'  products are deferred and amortized.
VOBA is amortized  into income in proportion to the expected gross profits of in
force acquired business in a manner similar to DPAC  amortization.  At March 31,
2002,  the  Companies  had DPAC and VOBA  balances  of $786.9  million and $22.3
million,  respectively,  as compared to DPAC and VOBA balances of $709.0 million
and $20.2 million,  respectively, at December 31, 2001. During the first quarter
of 2002,  additional  policy  acquisition  costs  were  deferred  due to a lower
reimbursement  of  expenses  under  the  modified  coinsurance  agreements.  See
Liquidity and Capital Resources for further  information  regarding the modified
coinsurance agreements.

At March 31, 2002,  the Companies had $11.6 billion of separate  account  assets
compared to $11.0 billion at December 31, 2001. The increase in separate account
assets resulted from sales of the Companies'  variable annuity products,  net of
redemptions, and from net policyholder transfers to the separate account options
from the fixed account options within the variable products.


                                       14
<PAGE>


At March 31,  2002,  the  Companies  had total assets of $15.8  billion,  a 9.9%
increase from December 31, 2001.

LIABILITIES

Future policy benefits increased $0.4 billion (17.2%),  to $2.6 billion at March
31, 2002 reflecting net sales of the Companies' general account options,  net of
transfers to the separate account.

Separate account liabilities  increased $0.7 billion (6.2%), to $11.6 billion at
March 31, 2002. Net  contributions to the separate account were partially offset
by a decrease in separate  account  liabilities  resulting from negative  equity
market returns.

Amounts due to  affiliates  decreased  by $13.9  million  from $25.1  million at
December  31,  2001 to  $11.2  million  at March  31,  2002,  mainly  due to the
settlement  of a payable to Equitable  Life related to the modified  coinsurance
agreement.

Other  liabilities  increased  $44.6  million from $85.0 million at December 31,
2001 to $129.6 at March 31, 2002,  due primarily to the timing of the settlement
of account transfers and an increase in outstanding checks.

In conjunction  with the volume of variable  annuity sales, the Companies' total
liabilities  increased $1.4 billion,  or 10.6%, during the first quarter of 2002
and totaled $15.0 billion at March 31, 2002.

The  effects  of  inflation  and  changing  prices on the  Companies'  financial
position  are not  material  since  insurance  assets and  liabilities  are both
primarily monetary and remain in balance. An effect of inflation, which has been
low in recent years, is a decline in  stockholder's  equity when monetary assets
exceed monetary liabilities.

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

Liquidity is the ability of the Companies to generate  sufficient  cash flows to
meet the cash requirements of operating,  investing,  and financing  activities.
The  Companies'  principal  sources of cash are  variable  annuity  premiums and
product charges,  investment income,  maturing  investments,  proceeds from debt
issuance, and capital contributions. Primary uses of these funds are payments of
commissions and operating  expenses,  interest and premium  credits,  investment
purchases, repayment of debt, as well as withdrawals and surrenders.

Net cash  provided  by  operating  activities  was  $127.4  million in the first
quarter of 2002 compared to net cash provided by operating  activities of $107.6
million  in the same  period  of  2001.  A main  source  of cash  provided  from
operating  activities is an increase in other liabilities,  net of a decrease in
other assets, of $152.1 million in the first quarter of 2002.

Net cash used in  investing  activities  was  $448.0  million  during  the first
quarter of 2002 as compared to net cash used in investing  activities  of $317.2
million  in the same  period  in 2001.  This  increase  in the net cash  used in
investing  activities  is  primarily  due to  increased  net  purchases of fixed
maturities  during  the first  three  months  of 2002.  Net  purchases  of fixed
maturities  reached  $375.8  million  in the first  quarter  of 2002  versus net
purchases  of $318.0  million  in the same  period  in 2001.  Net  purchases  of
mortgage  loans on real estate reached $8.8 million in the first quarter of 2002
versus  net  maturities  of $0.8  million  during the same  period in 2001.  Net
purchase of short-term  investments increased $63.0 million in the first quarter
of 2002 compared to the same period in 2001.  These  investment  purchases  were
mainly due to an increase in sales of the Companies' general account options.

Net cash provided by financing  activities  was $308.0  million during the first
quarter of 2002 as compared  to net cash  provided by  financing  activities  of
$235.9 million during the same period in 2001. During the first quarter of 2002,
net cash provided by financing activities was positively impacted by net general
account deposits of $635.1 million compared to $410.6 million in the same period
of 2001  primarily due to the  introduction  of new variable  annuity  products.
Offsetting  these  increases,  during  the  first  quarter  of  2002,  were  net


                                       15
<PAGE>


reallocations  to the Companies'  separate  accounts,  which increased to $325.7
million from $176.1 million during the same period in 2001.

The Companies'  liquidity position is managed by maintaining  adequate levels of
liquid assets,  such as cash or cash  equivalents  and  short-term  investments.
Additional sources of liquidity include borrowing  facilities to meet short-term
cash  requirements.  Golden American  maintains a $65.0 million  reciprocal loan
agreement  with ING  America  Insurance  Holdings,  Inc.  ("ING  AIH"),  and the
Companies  have  established  an $85.0  million  revolving  note  facility  with
SunTrust  Bank.  This  revolving  note payable was amended and restated in April
2001 with an  expiration  date of May 31, 2002.  Management  believes that these
sources  of  liquidity  are  adequate  to meet the  Companies'  short-term  cash
obligations.

Based on current  trends,  the  Companies  expect to continue to use net cash in
operating  activities,  given the  continued  growth  of  annuity  sales.  It is
anticipated that a continuation of capital  contributions  from its Parent,  the
issuance of additional  surplus  notes,  and/or the use of modified  coinsurance
agreements  will cover  these net cash  outflows.  ING AIH is  committed  to the
sustained  growth of Golden  American.  During 2002,  ING AIH  maintains  Golden
American's  statutory  capital and surplus at the end of each quarter at a level
such that:  1) the ratio of Total  Adjusted  Capital  divided by Company  Action
Level Risk Based Capital  exceeds 300%; 2) the ratio of Total  Adjusted  Capital
(excluding  surplus  notes)  divided by Company  Action Level Risk Based Capital
exceeds 200%; and 3) Golden American's statutory capital and surplus exceeds the
"Amounts Accrued for Expense Allowances  Recognized in Reserves" as disclosed on
page 3, Line 13 of Golden American's statutory statement.

Golden  American  occupies  125,000 square feet of leased space in West Chester,
Pennsylvania.  At March 31, 2002, First Golden's principal office was located in
Woodbury, New York, where certain of the Company's records were maintained.

The ability of Golden  American to pay  dividends  to the Parent is  restricted.
Prior  approval of insurance  regulatory  authorities is required for payment of
dividends to the stockholder  which exceed an annual limit.  During 2002, Golden
American  cannot pay  dividends to  Equitable  Life  without  prior  approval of
statutory authorities.

Under the  provisions  of the  insurance  laws of the  State of New York,  First
Golden could not distribute any dividends to its  stockholder,  Golden American,
unless a notice  of its  intent  to  declare a  dividend  and the  amount of the
dividend has been filed with the New York  Insurance  Department at least thirty
days in advance of the proposed  declaration.  If the  Superintendent of the New
York Insurance Department finds the financial condition of First Golden does not
warrant the distribution,  the Superintendent may disapprove the distribution by
giving written notice to First Golden within thirty days after the filing. First
Golden did not pay dividends to Golden  American  during the first quarter ended
March 31, 2002.

The NAIC's  risk-based  capital  requirements  require  insurance  companies  to
calculate  and report  information  under a risk-based  capital  formula.  These
requirements  are  intended  to  allow  insurance   regulators  to  monitor  the
capitalization  of insurance  companies based upon the type and mixture of risks
inherent in a company's  operations.  The formula includes  components for asset
risk,  liability risk, interest rate exposure,  and other factors. The Companies
have complied with the NAIC's risk-based capital reporting requirements. Amounts
reported  indicate  that the  Companies  have total  adjusted  capital above all
required capital levels.

REINSURANCE:  At March 31, 2002,  Golden American had reinsurance  treaties with
five  unaffiliated   reinsurers  and  three  affiliated  reinsurers  covering  a
significant  portion  of the  mortality  risks and  guaranteed  death and living
benefits under its variable  contracts.  Golden  American  remains liable to the
extent  its  reinsurers  do not meet  their  obligations  under the  reinsurance
agreements.

On June 30, 2000,  effective  January 1, 2000,  Golden  American  entered into a
modified  coinsurance  agreement  with  Equitable  Life covering a  considerable
portion of Golden  American's  variable  annuities issued after January 1, 2000,
excluding those with an interest rate guarantee.


                                       16
<PAGE>


On December 28, 2000, Golden American entered into a reinsurance  agreement with
SLDI, an affiliate,  covering variable annuity minimum guaranteed death benefits
and  minimum  guaranteed  living  benefits of variable  annuities  issued  after
January 1, 2000.  Golden American also obtained an irrevocable  letter of credit
was obtained  through  Bank of New York in the amount of $25 million  related to
this  agreement.  Effective  March 29,  2002,  the  letter of credit  amount was
revised to $75 million.

On December 29, 2000, First Golden entered into a reinsurance treaty with London
Life Reinsurance Company of Pennsylvania,  an unaffiliated  reinsurer,  covering
the minimum  guaranteed  death  benefits of First  Golden's  variable  annuities
issued on or after January 1, 2000.

MARKET RISK AND RISK MANAGEMENT
-------------------------------

Asset/liability  management  is integrated  into many aspects of the  Companies'
operations,  including investment decisions,  product development, and crediting
rates determination.  As part of the risk management process, different economic
scenarios  are  modeled,  including  cash flow testing  required  for  insurance
regulatory  purposes,  to determine  that  existing  assets are adequate to meet
projected  liability cash flows.  Key variables in the modeling  process include
anticipated contractholder behavior, and variable separate account performance.

Contractholders  bear the majority of the  investment  risks related to variable
insurance  products.  The Companies' products also provide certain minimum death
and guaranteed  living  benefits;  the Companies'  liabilities  related to these
benefits  which  depend  in part on the  performance  of the  variable  separate
accounts.  Currently,  the  majority  of death  and  living  benefit  risks  are
reinsured,  which protects the Companies from adverse  mortality  experience and
prolonged capital market decline.

A surrender,  partial withdrawal,  transfer,  or annuitization made prior to the
end of a guarantee  period under a fixed  account or product may be subject to a
market value adjustment. As the majority of the liabilities in the fixed account
are subject to market  value  adjustment,  the  Companies do not face a material
amount of market risk volatility. The fixed account liabilities are supported by
a portfolio  principally  composed of fixed rate  investments  that can generate
predictable,  steady rates of return. The portfolio  management strategy for the
fixed  account  considers  the  assets  available  for sale.  This  enables  the
Companies to respond to changes in market interest rates,  changes in prepayment
risk, changes in relative values of asset sectors and individual  securities and
loans,  changes in credit  quality  outlook,  and other  relevant  factors.  The
objective of portfolio  management is to maximize  returns,  taking into account
interest  rate  and  credit  risk,  as  well  as  other  risks.  The  Companies'
asset/liability  management  discipline includes strategies to minimize exposure
to loss as interest rates and economic and market conditions change.

On the  basis of these  analyses,  management  believes  there is  currently  no
material  solvency risk to the  Companies.  With respect to a 10% drop in equity
values  from  year end 2001  levels,  variable  separate  account  funds,  which
represent 82% of the Companies' in force  business,  pass the risk in underlying
fund  performance to the  contractholder  (except for certain  minimum  benefits
guarantees, described above). With respect to interest rate movements up or down
100 basis points from March 31, 2002 levels,  the  remaining 18% of the in force
are fixed account funds,  and almost all of these have market value  adjustments
which  provide  significant  protection  to the  Companies  against  changes  in
interest rates.

CRITICAL ACCOUNTING POLICIES
----------------------------

The preparation of financial statements in conformity with accounting principles
generally  accepted  in the United  States  requires  the use of  estimates  and
assumptions  in  certain  circumstances  that  affect  amounts  reported  in the
accompanying  condensed consolidated financial statements and related footnotes.
These  estimates and  assumptions  are  evaluated on an on-going  basis based on
historical   developments,   market   conditions,   industry  trends  and  other
information we believe to be reasonable under the circumstances. There can be no
assurance that actual results will conform to our estimates and assumptions, and
that reported results of operations will not be materially adversely affected by
the need to make  accounting  adjustments to reflect  changes in these estimates


                                       17
<PAGE>


and assumptions from time to time. Item 7 of Golden  American's Annual Report on
Form 10K discusses  several  critical  accounting  policies which we believe are
most  sensitive  to  estimates  and  judgments  and  involve a higher  degree of
judgment and complexity. There have been no material changes to that information
during the first quarter of 2002.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
---------------------------------------------------------

Any  forward-looking  statement contained herein or in any other oral or written
statement by the Companies or any of their officers,  directors, or employees is
qualified by the fact that actual results of the Companies may differ materially
from such  statement,  among  other  risks  and  uncertainties  inherent  in the
Companies' business, due to the following important factors:

1.   Prevailing  interest rate levels and equity  performance,  which may affect
     the ability of the Companies to sell their  products,  the market value and
     liquidity of the Companies' investments, fee revenue, and the lapse rate of
     the Companies' products,  notwithstanding  product design features intended
     to enhance persistency of the Companies' products.

2.   Changes in the federal income tax laws and  regulations,  which benefit the
     tax  treatment  of  investments  that  compete  with  annuity  products for
     retirement savings may adversely affect the tax treatment of the Companies'
     products and benefits thereunder.

3.   Changes  in the  regulation  of  financial  services,  including  potential
     federal regulation of insurance,  bank sales, and underwriting of insurance
     products,  which may affect the competitive  environment for the Companies'
     products.

4.   Increasing  competition  from  other  market  participants  for the sale of
     annuity products.

5.   Other  factors  that  could  affect  the   performance  of  the  Companies,
     including,  but not limited to, market conduct claims against the Companies
     and/or firms selling the Companies' product, litigation, insurance industry
     insolvencies,  availability  of  competitive  reinsurance  on new business,
     investment  performance  of  the  underlying  portfolios  of  the  variable
     products,  variable product design, and sales volume by significant sellers
     of the Companies' variable products.

PART II. OTHER INFORMATION

ITEM 5. OTHER INFORMATION.

PRODUCTS

The  Companies  offer a  portfolio  of  variable  and fixed  insurance  products
designed to meet customer  needs for  tax-advantaged  saving for  retirement and
protection from death. The Companies believe longer life expectancies,  an aging
population,  and growing  concern over the  stability  and  availability  of the
Social  Security  system  have made  retirement  planning  a  priority  for many
Americans.  The target  market for all  products is consumers  and  corporations
throughout the United States.

Variable and fixed insurance products currently offered by the Companies include
thirteen  variable annuity products and two fixed annuity  products.  During the
year 2002,  Golden  American began selling one new variable  insurance  product,
Multi-Rate Index Annuity.

SUBSEQUENT EVENTS - 8K

A filing was made on April 16, 2002, under the Reliastar Life Insurance  Company
of New York ("RLNY") registration,  in accordance with Item 5 of Form 8-K: Other
Events and  Regulation  FD  Disclosure.  The purpose of the filing was to report


                                       18
<PAGE>


that on April 1,  2002,  First  Golden was merged  into RLNY.  Approval  for the
merger was obtained from the Insurance Departments of the States of New York and
Delaware.

ReliaStar  Life  Insurance  Company  ("ReliaStar"),   the  parent  of  Security-
Connecticut Life Insurance Company ("Security-Connecticut"),  who in turn is the
parent of RLNY, paid to Golden American the preliminary merger  consideration of
$27.7  million in  exchange  for 100% of the shares of First  Golden.  ReliaStar
contributed First Golden to  Security-Connecticut  who in turn contributed First
Golden to RLNY. The final merger  consideration of First Golden will be the fair
market value as determined by the first quarter  statutory  financial  statement
and will be recorded in the second quarter of 2002.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a) Exhibits

A list of  exhibits  included as part of this report is set forth in the Exhibit
Index which  immediately  precedes such exhibits and is hereby  incorporated  by
reference herein.

(b) Reports on Form 8-K

None during the first quarter ended March 31, 2002.


                                       19
<PAGE>


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



DATE:   May 13, 2002                      GOLDEN AMERICAN LIFE INSURANCE COMPANY





                                            By/s/       Wayne R. Huneke
                                                --------------------------------
                                            Wayne R. Huneke
                                            Chief Financial Officer and Director
                                            (Principal Financial Officer)
                                            (Duly Authorized Officer)






                                       20
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>
2        PLAN OF ACQUISITION
           (a)     Stock Purchase Agreement dated as of May 3, 1996, between Equitable of Iowa
                   Companies ("Equitable") and Whitewood Properties Corp. (incorporated by reference from
                   Exhibit 2 in Equitable's Form 8-K filed August 28, 1996).............................................     __

           (b)     Agreement and Plan of Merger dated as of July 7, 1997, among ING Groep N.V.,
                   PFHI Holdings, Inc., and Equitable (incorporated by reference from Exhibit 2 in Equitable's
                   Form 8-K filed July 11, 1997)........................................................................     __

3        ARTICLES OF INCORPORATION AND BY-LAWS
           (a)     Articles of Incorporation of Golden American Life Insurance Company ("Registrant"
                   or "Golden American") (incorporated by reference from Exhibit 3(a) to Registrant's
                   Registration Statement on Form S-1 filed with the Securities and Exchange Commission
                   (the "SEC") on June 30, 2000 (File No. 333-40596))...................................................     __

           (b)(i)  By-laws of Golden American (incorporated by reference from Exhibit 3(b)(i) to Registrant's
                   Registration Statement on Form S-1 filed with the SEC on June 30, 2000
                   (File No. 333-40596))................................................................................     __

              (ii) By-laws of Golden American, as amended (incorporated by reference from Exhibit 3(b)(ii)
                   to the Registrant's Registration Statement on Form S-1 filed with the SEC on
                   June 30, 2000 (File No. 333-40596))..................................................................     __

              (iii)Certificate of Amendment of the By-laws of MB Variable Life Insurance Company, as
                   amended (incorporated by reference from Exhibit 3(b)(iii) to Registrant's Registration
                   Statement on Form S-1 filed with the SEC on June 30, 2000 (File No. 333-40596))......................     __

              (iv) By-laws of Golden American, as amended (12/21/93) (incorporated by reference
                   from Exhibit 3(b)(iv) to Registrant's Registration Statement on Form S-1 filed with the
                   SEC on June 30, 2000 (File No. 333-40596))...........................................................     __

4         INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, INCLUDING INDENTURES
           (a)     Individual Deferred Combination Variable and Fixed Annuity Contract (incorporated
                   by reference from Exhibit 4(a) to Amendment No. 5 of Registrant's Registration
                   Statement on Form S-1 filed with the SEC on or about April 23, 1999
                   (File No. 333-51353))................................................................................     __

           (b)     Discretionary Group Deferred Combination Variable Annuity Contract (incorporated
                   by reference from Exhibit 4(b) to Amendment No. 5 of Registrant's Registration
                   Statement on Form S-1 filed with the SEC on or about April 23, 1999
                   (File No. 333-51353))................................................................................     __


                                                                 21
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (c)      Individual Deferred Variable Annuity Contract (incorporated by reference from
                   Exhibit 4(c) to Amendment No. 5 of Registrant's Registration Statement on
                   Form S-1 filed with the SEC on or about December 3, 1999 (File No. 333-51353)).......................     __

          (d)      Individual Deferred Combination Variable and Fixed Annuity Application
                   (incorporated by reference from Exhibit 4(g) to Amendment No. 6 of Registrant's
                   Registration Statement on Form S-1 filed with the SEC on or about December 3, 1999
                   (File No. 333-51353))................................................................................     __

          (e)      Group Deferred Combination Variable and Fixed Annuity Enrollment Form
                   (incorporated by reference from Exhibit 4(h) to Amendment No. 6 of Registrant's
                   Registration Statement on Form S-1 filed with the SEC on or about December 3, 1999
                   (File No. 333-51353))................................................................................     __

          (f)      Individual Deferred Variable Annuity Application (incorporated by reference
                   from Exhibit 4(i) to Amendment No. 6 of Registrant's Registration Statement
                   on Form S-1 filed with the SEC on or about December 3, 1999 (File No. 333-51353))....................     __

          (g)      Individual Retirement Annuity Rider Page (incorporated by reference from Exhibit 4(d) to
                   Registrant's Registration Statement on Form S-1 filed with the SEC on June 30, 2000
                   (File No. 333-40596))................................................................................     __

          (h)      ROTH Individual Retirement Annuity Rider (incorporated by reference from Exhibit 4(g) to
                   Registrant's Registration Statement on Form S-1 filed with the SEC on June 30, 2000
                   (File No. 333-40596))................................................................................     __

          (i)      Minimum Guaranteed Accumulation Benefit Rider (REV) (incorporated by reference from
                   Exhibit 4(k) to Amendment No. 3 to a Registration Statement on Form S-1 filed with the
                   SEC on April 23, 2001 (File No. 333-35592))..........................................................     __

          (j)      Minimum Guaranteed Income Benefit Rider (REV) (incorporated by reference from Exhibit
                   4(l) to Amendment No. 3 to a Registration Statement on Form S-1 filed with the SEC on
                   April 23, 2001 (File No. 333-35592)).................................................................     __

          (k)      Minimum Guaranteed Withdrawal Benefit Rider (REV) (incorporated by reference from
                   Exhibit 4(m) to Amendment No. 3 to a Registration Statement on Form S-1 filed with the
                   SEC on April 23, 2001 (File No. 333-35592))..........................................................     __

          (l)      Living Benefit Rider Endorsement (incorporated by reference from Exhibit 4(n) to
                   Amendment No. 3 to a Registration Statement on Form S-1 filed with the SEC on
                   April 23, 2001 (File No. 333-35592)).................................................................     __


                                                                 22
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (m)      Death Benefit Endorsement Number 1 describing the 7% Solution Enhanced Death
                   Benefit (REV) (incorporated by reference from Exhibit 4(o) to Amendment No. 3 to a
                   Registration Statement on Form S-1 filed with the SEC on April 23, 2001
                   (File No. 333-35592))................................................................................     __

          (n)      Death Benefit Endorsement Number 2 describing the Annual Ratchet Enhanced
                   Death Benefit (REV) (incorporated by reference from Exhibit 4(p) to Amendment No. 3
                   to a Registration Statement on Form S-1 filed with the SEC on April 23, 2001
                   (File No. 333-35592))................................................................................     __

          (o)      Death Benefit Endorsement Number 3 describing the Standard Death Benefit (REV)
                   (incorporated by reference from Exhibit 4(q) to Amendment No. 3 to a Registration
                   Statement on Form S-1 filed with the SEC on April 23, 2001 (File No. 333-35592)).....................     __

          (p)      Death Benefit Endorsement Number 4 describing the Max 7 Enhanced Death Benefit (REV)
                   (incorporated by reference from Exhibit 4(r) to Amendment No. 3 to a Registration
                   Statement on Form S-1 filed with the SEC on April 23, 2001 (File No. 333-35592)).....................     __

          (q)      Death Benefit Endorsement Number 5 (Base Death Benefit) (incorporated by reference
                   from Exhibit 4(s) to Amendment No. 3 to a Registration Statement on Form S-1 filed with
                   the SEC on April 23, 2001 (File No. 333-35592)) .....................................................     __

          (r)      Death Benefit Endorsement Number 6 (Inforce Contracts) (incorporated by reference from
                   Exhibit 4(t) to Amendment No. 3 to a Registration Statement on Form S-1 filed with the
                   SEC on April 23, 2001 (File No. 333-35592)) .........................................................     __

          (s)      Individual Deferred Variable and Fixed Annuity Contract (incorporated by
                   reference from Exhibit 4(a) to Amendment No. 6 to Registrant's Registration
                   Statement filed with the SEC on or about December 3, 1999 (File No. 333-28765))......................     __

          (t)      Group Deferred Variable and Fixed Annuity Contract Individual Deferred Variable
                   and Fixed Annuity Contract (incorporated by reference from Exhibit 4(b) to Amendment
                   No. 6 to Registrant's Registration Statement filed with the SEC on or about December 3,
                   1999 (File No. 333-28765))...........................................................................     __

          (u)      Individual Deferred Variable Annuity Contract (incorporated by reference from
                   Exhibit 4(c) to Amendment No. 6 to Registrant's Registration Statement filed with
                   the SEC on or about December 3, 1999 (File No. 333-28765))...........................................     __

          (v)      Individual Deferred Variable and Fixed Annuity Contract (incorporated by reference
                   from Exhibit 4(a) to a Registration Statement for Golden American filed with the SEC
                   on or about April 23, 1999 (File No. 333-76941)).....................................................     __

          (w)      Group Deferred Variable and Fixed Annuity Contract Individual Deferred Variable
                   and Fixed Annuity Contract (incorporated by reference from Exhibit 4(b) to a Registration
                   Statement for Golden American filed with the SEC on or about April 23, 1999
                   (File No. 333-76941))................................................................................     __


                                                                 23
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (x)      Individual Deferred Variable Annuity Contract (incorporated by reference from
                   Exhibit 4(c) to a Registration Statement for Golden American filed with the SEC
                   on or about April 23, 1999 (File No. 333-76941)).....................................................     __

          (y)      Individual Deferred Variable and Fixed Annuity Contract (incorporated by reference
                   from Exhibit 4(a) to a Registration Statement for Golden American filed with the SEC
                   on or about April 23, 1999 (File No. 333-76945)).....................................................     __

          (z)      Group Deferred Variable and Fixed Annuity Contract Individual Deferred Variable
                   and Fixed Annuity Contract (incorporated by reference from Exhibit 4(b) to a
                   Registration Statement for Golden American filed with the SEC on or about April 23,
                   1999 (File No. 333-76945))...........................................................................     __

          (aa)     Individual Deferred Variable Annuity Contract (incorporated by reference from
                   Exhibit 4(c) to a Registration Statement for Golden American filed with the SEC
                   on or about April 23, 1999 (File No. 333-76945)).....................................................     __

          (ab)     Schedule Page to the Premium Plus Contract featuring the Galaxy VIP Fund
                   (incorporated by reference from Exhibit 4(i) to a Registration Statement for Golden
                   American on Form S-1 filed with the SEC on or about September 24, 1999
                   (File No. 333-76945))................................................................................     __

          (ac)     Individual Deferred Variable and Fixed Annuity Contract (incorporated by reference
                   from Exhibit 4(a) to Amendment No. 3 to Registrant's Registration Statement filed
                   with the SEC on or about April 23, 1999 (File No. 333-66745))........................................     __

          (ad)     Group Deferred Variable and Fixed Annuity Contract Individual Deferred Variable
                   and Fixed Annuity Contract (incorporated by reference from Exhibit 4(b) to
                   Amendment No. 3 to Registrant's Registration Statement filed with the SEC on or
                   about April 23, 1999 (File No. 333-66745))...........................................................     __

          (ae)     Individual Deferred Variable Annuity Contract (incorporated by reference from
                   Exhibit 4(c) to Amendment No. 3 to Registrant's Registration Statement filed with
                   the SEC on or about April 23, 1999 (File No. 333-66745)).............................................     __

          (af)     Single Premium Deferred Modified Guaranteed Annuity Contract (incorporated by reference
                   to Exhibit 4(a) to Amendment No. 1 to a Registration Statement on Form S-1 filed with the
                   SEC on September 13, 2000 (File No. 333-40596))......................................................     __

          (ag)     Single Premium Deferred Modified Guaranteed Annuity Master Contract (incorporated by
                   reference to Exhibit 4(b) to Amendment No. 1 to a Registration Statement on Form S-1 filed
                   with the SEC on September 13, 2000 (File No. 333-40596)).............................................     __

          (ah)     Single Premium Deferred Modified Guaranteed Annuity Certificate (incorporated by
                   reference to Exhibit 4(c) to Amendment No. 1 to a Registration Statement on Form S-1 filed
                   with the SEC on September 13, 2000 (File No. 333-40596)).............................................     __


                                                                 24
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (ai)     Single Premium Deferred Modified Guaranteed Annuity Application (incorporated by
                   reference to Exhibit 4(e) to Amendment No. 1 to a Registration Statement on Form S-1 filed
                   with the SEC on September 13, 2000 (File No. 333-40596)).............................................     __

          (aj)     Single Premium Deferred Modified Guaranteed Annuity Enrollment Form (incorporated by
                   reference to Exhibit 4(f) to Amendment No. 1 to a Registration Statement on Form S-1 filed
                   with the SEC on September 13, 2000 (File No. 333-40596)).............................................     __

          (ak)     Earnings Enhancement Death Benefit Rider (incorporated by reference from Exhibit 4(u)
                   to Amendment No. 3 to a Registration Statement on Form S-1 filed with the SEC on
                   April 23, 2001 (Filed No. 333-35592))................................................................     __

          (al)     Deferred Combination Variable and Fixed Annuity Group Master Contract (incorporated by
                   reference from Exhibit 4(a) to a Registration Statement on Form S-1 filed by Registrant with
                   the SEC on or about April 24, 2001 (File No. 333-59408)).............................................     __

          (am)     Flexible Premium Individual Deferred Combination Variable and Fixed Annuity Contract
                   (incorporated by reference from Exhibit 4(b) to a Registration Statement on Form S-1 filed
                   by Registrant with the SEC on or about April 24, 2001 (File No. 333-59408))..........................     __

          (an)     Flexible Premium Individual Deferred Combination Variable and Fixed Annuity Certificate
                   (incorporated by reference from Exhibit 4(c) to a Registration Statement on Form S-1 filed
                   by Registrant with the SEC on or about April 24, 2001 (File No. 333-59408))..........................     __

          (ao)     Flexible Premium Individual Deferred Variable Annuity Contract (incorporated by
                   reference from Exhibit 4(d) to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about April 24, 2001 (File No. 333-59408))........................................     __

          (ap)     Individual Deferred Combination Variable and Fixed Annuity Application (incorporated by
                   reference from Exhibit 4(e) to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about April 24, 2001 (File No. 333-59408))........................................     __

          (aq)     Group Deferred Combination Variable and Fixed Annuity Enrollment Form (incorporated
                   by reference from Exhibit 4(f) to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about April 24, 2001 (File No. 333-59408))........................................     __

          (ar)     Individual Deferred Variable Annuity Application (incorporated by reference from
                   Exhibit 4(g) to a Registration Statement on Form S-1 filed by Registrant with the SEC on or
                   about April 24, 2001 (File No. 333-59408))...........................................................     __


                                                                 25
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (as)     Form of Variable Annuity Group Master Contract (incorporated by reference from
                   Exhibit 4(a) to Pre-Effective Amendment No. 1 to a Registration Statement on Form
                   S-2 filed by Registrant with the SEC on or about June 29, 2001 (File No. 333-57212)).................     __

          (at)     Form of Variable Annuity Contract (incorporated by reference from Exhibit 4(b) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-2 filed by
                   Registrant with the SEC on or about June 29, 2001 (File No. 333-57212))..............................     __

          (au)     Form of Variable Annuity Certificate (incorporated by reference from Exhibit 4(c) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-2 filed by
                   Registrant with the SEC on or about June 29, 2001 (File No. 333-57212))..............................     __

          (av)     Form of GET Fund Rider (incorporated by reference from Exhibit 4(d) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-2 filed by Registrant with the
                   SEC on or about June 29, 2001 (File No. 333-57212))..................................................     __

          (aw)     Form of Premium Bonus Endorsement Rider (incorporated by reference from Exhibit
                   4(e) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-2 filed by
                   Registrant with the SEC on or about June 29, 2001 (File No. 333-57212))..............................     __

          (ax)     Form of Individual Retirement Annuity Rider (incorporated by reference from Exhibit
                   4(d) to Initial Filing to a Registration Statement on Form S-1 filed by Registrant with
                   the SEC on or about August 16, 2001 (File No. 333-67660))............................................     __

          (ay)     Form of Variable Annuity Group Master Contract (incorporated by reference from
                   Exhibit 4(a) to Pre-Effective Amendment No. 1 to a Registration Statement on Form
                   S-1 filed by Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))..............     __

          (az)     Form of Variable Annuity Contract (incorporated by reference from Exhibit 4(b) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by
                   Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))...........................     __

          (ba)     Form of Variable Annuity Certificate (incorporated by reference from Exhibit 4(c) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about October 26, 2001 (File No. 333-63694))......................................     __

          (bb)     Form of Premium Bonus Endorsement (incorporated by reference from Exhibit 4(d) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant with the SEC
                   on or about October 26, 2001 (File No. 333-63694))...................................................     __

          (bc)     Earnings Enhancement Death Benefit Rider (incorporated by reference from Exhibit
                   4(e) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by
                   Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))...........................     __


                                                                 26
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<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (bd)     Form of Variable Annuity Group Master Contract (incorporated by reference from
                   Exhibit 4(a) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1
                   filed by Registrant with the SEC on or about December 11, 2001 (File No. 333-70602)).................     __

          (be)     Form of Variable Annuity Contract (incorporated by reference from Exhibit 4(b) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by
                   Registrant with the SEC on or about December 11, 2001 (File No. 333-70602))..........................     __

          (bf)     Form of Variable Annuity Certificate (incorporated by reference from Exhibit 4(c) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about December 11, 2001 (File No. 333-70602)).....................................     __

          (bg)     Form of GET Fund Rider (incorporated by reference from Exhibit 4(d) to Pre-Effective
                   Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about December 11, 2001 (File No. 333-70602)).....................................     __

          (bh)     Form of Section 72 Rider (incorporated by reference from Exhibit 4(e) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant with the
                   SEC on or about December 11, 2001 (File No. 333-70602))..............................................     __

          (bi)     Form of Waiver of Surrender Charge Rider (incorporated by reference from Exhibit 4(f)
                   to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by
                   Registrant with the SEC on or about December 11, 2001 (File No. 333-70602))..........................     __

10        MATERIAL CONTRACTS
          (a)      Administrative Services Agreement, dated as of January 1, 1997, between Golden
                   American and Equitable Life Insurance Company of Iowa (incorporated by reference
                   from Exhibit 10(a) to a Registration Statement for Golden American on Form S-1 filed
                   with the SEC on April 29, 1998 (File No. 333-51353)).................................................     __


                                                                 27
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                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>


          (b)      Service Agreement, dated as of January 1, 1994, between Golden American and Directed
                   Services, Inc. (incorporated by reference from Exhibit 10(b) to a Registration Statement
                   for Golden American on Form S-1 filed with the SEC on April 29, 1998
                   (File No. 333-51353))................................................................................     __

          (c)      Service Agreement, dated as of January 1, 1997, between Golden American and
                   Equitable Investment Services, Inc. (incorporated by reference from Exhibit 10(c)
                   to a Registration Statement for Golden American on Form S-1 filed with the SEC on
                   April 29, 1998 (File No. 333-51353)).................................................................     __

          (d)      Participation Agreement between Golden American and Warburg Pincus Trust
                   (incorporated by reference from Exhibit 8(a) to Amendment No. 54 to Separate
                   Account B of Golden American's Registration Statement on Form N-4 filed with
                   SEC on or about April 30, 1998 (File No. 333-28679 and 811-5626))....................................     __

          (e)      Participation Agreement between Golden American and PIMCO Variable Trust
                   (incorporated  by reference from Exhibit 8(b) to  Amendment No. 54 to Separate
                   Account B of Golden American's Registration Statement on Form N-4 filed with
                   the SEC on or about April 30, 1998 (File No. 333-28679 and 811-5626))................................     __

          (f)      Participation Agreement between Golden American and The Galaxy VIP Fund (incorporated
                   by reference from Exhibit 10(i) to a Registration  Statement for Golden  American on Form S-1
                   filed with the SEC on or about September 24, 1999 (File No. 333-76945))..............................     __

          (g)      Asset Management Agreement, dated January 20, 1998, between Golden American
                   and ING Investment Management LLC (incorporated by reference from Exhibit 10(f)
                   to Golden American's Form 10-Q filed with the SEC on August 14, 1998
                   (File No. 33-87272)).................................................................................     __

          (h)      Reciprocal Loan Agreement, dated January 1, 1998, as amended March 20, 1998, between Golden
                   American and ING America Insurance Holdings, Inc. (incorporated by reference from
                   Exhibit 10(g) to Golden American's Form 10-Q filed with the SEC on August 14, 1998
                   (File No. 33-87272)).................................................................................     __


                                                                 28
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<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (i)      Underwriting Agreement between Golden American and Directed Services, Inc.
                   (incorporated by reference from Exhibit 1 to Amendment No. 9 to Registrant's
                   Registration Statement on Form S-1 filed with the SEC on or about February 17, 1998
                   (File No. 33-87272)).................................................................................     __

          (j)      Revolving Note Payable, dated July 27, 1998, between Golden American and SunTrust
                   Bank, Atlanta (incorporated by reference from Exhibit 10(i) to Golden American's
                   Form 10-Q filed with the SEC on November 13, 1998 (File No. 33-87272))...............................     __

          (k)      Revolving Note Payable, dated July 31, 1999, between Golden American and SunTrust
                   Bank, Atlanta (incorporated by reference from Exhibit 10(j) to Golden American's
                   Form 10-Q filed with the SEC on August 13, 1999 (File No. 33-87272)).................................     __

          (l)      Surplus Note, dated December 17, 1996, between Golden American and Equitable of Iowa
                   Companies (incorporated by reference from Exhibit 10(l) to Golden American's Form 10-K
                   filed with the SEC on March 29, 2000 (File No. 33-87272)) ...........................................     __

          (m)      Surplus Note, dated December 30, 1998, between Golden American and Equitable Life
                   Insurance Company of Iowa (incorporated by reference from Exhibit 10(m) to Golden American's
                   Form 10-K filed with the SEC on March 29, 2000 (File No. 33-87272))..................................     __

          (n)      Surplus Note, dated September 30, 1999, between Golden American and ING America
                   Insurance Holdings, Inc. (incorporated by reference from Exhibit 10(n) to Golden
                   American's Form 10-K filed with the SEC on March 29, 2000 (File No. 33-87272)........................     __

          (o)      Surplus Note, dated December 8, 1999, between Golden American and First
                   Columbine Life Insurance Company (incorporated by reference from Exhibit 10(g)
                   to Amendment No. 7 to a Registration Statement for Golden American on Form S-1
                   filed with the SEC on or about January 27, 2000 (File No. 333-28765))................................     __

          (p)      Surplus Note, dated December 30, 1999, between Golden American and Equitable
                   Life Insurance Company of Iowa (incorporated by reference from Exhibit 10(h) to
                   Amendment No. 7 to a Registration Statement for Golden American on Form S-1
                   filed with the SEC on or about January 27, 2000 (File No. 333-28765))................................     __

          (q)      Reinsurance Agreement, effective January 1, 2000, between Golden American Life
                   Insurance Company and Security Life of Denver International Limited (incorporated by reference
                   from Exhibit 10(q) to Golden American's Form 10-K filed with the SEC on March 29, 2001
                   (File No. 33-87272)).................................................................................     __


                                                                 29
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<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>


          (r)      Participation Agreement between Golden American and Prudential Series Fund, Inc.
                   (incorporated by reference from Exhibit 10(l) to  Registration  Statement for Golden American
                   on Form S-1 filed with the SEC on or about April 26, 2000 (File No. 333-35592)) .....................     __

          (s)      Participation Agreement between Golden American and ING Variable Insurance Trust
                   (incorporated by reference from Exhibit 10(m) to  Registration  Statement for Golden American
                   on Form S-1 filed with the SEC on or about April 26, 2000 (File No. 333-35592)) .....................     __

          (t)      Reinsurance Agreement, dated June 30, 2000, between Golden American Life Insurance Company
                   and Equitable Life Insurance Company of Iowa (incorporated by reference from Exhibit 10(s) to
                   Golden American's Form 10-Q filed with the SEC on August 11, 2000
                   (File No. 33-87272)) ................................................................................     __

          (u)      Renewal of Revolving Note Payable, dated July 31, 2000, between Golden American and SunTrust
                   Bank, Atlanta (incorporated by reference from Exhibit 10(t) to Golden American's Form 10-Q
                   filed with the SEC on August 11, 2000 (File No. 33-87272))...........................................     __

          (v)      Amendment to the Participation Agreement between Golden American and Prudential
                   Series Fund, Inc. (incorporated by reference to Exhibit 10(m) to Amendment No. 10
                   to a Registration Statement on Form S-1 filed with the SEC on December 15, 2000
                   (File No. 333-28765)) ...............................................................................     __

          (w)      Letter of Credit between Security Life of Denver International Limited and The Bank
                   of New York for the benefit of Golden American (incorporated by reference to
                   Exhibit 10(r) to Amendment No. 3 to a Registration Statement on Form S-1 filed with
                   the SEC on April 23, 2001 (File No. 333-35592)) .....................................................     __

          (x)      Participation Agreement between Golden American and ING Variable Products Trust (incorporated by
                   reference to Exhibit 8(n) to Amendment No. 32 to a Post Effective Amendment to a Registration
                   Statement on Form N-4 filed with the SEC on April 26, 2002 (File No. 33-23351 and 811-5626)) ........     __

          (y)      Form of Participation Agreement between Golden American and ProFunds (incorporated by
                   reference to Exhibit 10(s) to Amendment No. 3 to a Registration Statement on Form S-1
                   filed with the SEC on April 23, 2001 (File No. 333-35592)) ..........................................     __

          (z)      Renewal of Revolving Note Payable, dated April 30, 2001, between Golden American and
                   SunTrust Bank, Atlanta (incorporated by reference to Exhibit 10(z) to Golden American's
                   Form 10-Q filed with SEC on August 14, 2001 (File No. 33-87272)).....................................     __

          (aa)     Amendment to the Reinsurance Agreement between Golden American and Security Life of
                   Denver International Limited, amended September 28, 2001 (Incorporated by reference from
                   Exhibit 10(n) Pre-Effective Amendment No. 1 to a Registration Statement for Golden
                   American on Form S-1 filed with the SEC on October 26, 2001 (Filed No. 333-63694))...................     __


                                                                 30
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                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (ab)     Participation Agreement between Golden American Life Insurance Company, Aetna
                   Variable Fund, Aetna Variable Encore Fund, Aetna Income Shares, Aetna Balanced VP, Inc.,
                   Aetna GET Fund, Aetna Variable Portfolios, Inc. and Aeltus Investment Management, Inc.
                   (incorporated by reference from Exhibit 10(p) to Pre-Effective Amendment No. 1 to a
                   Registration Statement on Form S-1 filed by Registrant with the SEC on or about
                   October 26, 2001 (File No. 333-63694))...............................................................     __

          (ac)     Form of Participation Agreement between Golden American Life Insurance Company,
                   Directed Services, Inc., Alliance Capital Management L.P., Alliance Variable Products
                   Series Fund, Inc. and Alliance Fund Distributors, Inc. (incorporated by reference from
                   Exhibit 10(r) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1
                   filed by Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))..................     __

          (ad)     Participation Agreement between Golden American Life Insurance Company, Brinson Series
                   Trust and Brinson Advisors, Inc. (incorporated by reference from Exhibit 10(s) to
                   Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about October 26, 2001 (File No. 333-63694))......................................     __

          (ae)     Participation Agreement between Golden American Life Insurance Company, Fidelity
                   Distributors Corporation and each of Variable Insurance Products Fund, Variable Insurance
                   Products Fund II and Variable Insurance Products Fund III. (incorporated by reference from
                   Exhibit 10(t) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1
                   filed by Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))..................     __

          (af)     Participation Agreement between Golden American Life Insurance Company, INVESCO Variable
                   Investment Funds, Inc., INVESCO Funds Group, Inc. and INVESCO Distributors, Inc. (incorporated by
                   reference from Exhibit 10(u) to Post-Effective Amendment  No. 32 to a Registration Statement
                   on Form N-4 filed by Registrant with the SEC on or about April 26, 2002 (File No. 33-23351
                   and 811-5626)).......................................................................................     __

          (ag)     Form of Participation Agreement between Golden American Life Insurance Company and
                   Janus Aspen Series (incorporated by reference from Exhibit 10(v) to Pre-Effective Amendment
                   No. 1 to a Registration Statement on Form S-1 filed by Registrant with the SEC on or about
                   October 26, 2001 (File No. 333-63694))...............................................................     __

          (ah)     Participation Agreement between Golden American Life Insurance Company and ING
                   Pilgrim Investors, LLC (incorporated by reference from Exhibit 10(w) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant with the SEC
                   on or about October 26, 2001 (File No. 333-63694))...................................................     __

          (ai)     Participation Agreement between Golden American Life Insurance  Company and ING
                   Pilgrim Securities, Inc. (incorporated by reference from Exhibit 10(x) to Pre-Effective
                   Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant with the SEC
                   on or about October 26, 2001 (File No. 333-63694))...................................................     __


                                                                 31
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<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (aj)     Participation Agreement between Golden American Life Insurance Company, Pioneer Variable
                   Contracts Trust, Pioneer Investment Management, Inc. and Pioneer Funds Distributor, Inc.
                   (incorporated by reference from Exhibit 8(o) to Post-Effective Amendment No. 32 to a
                   Registration Statement on Form N-4 filed by Registrant with the SEC on or about April 26, 2002
                   (File No. 33-23351 and 811-5626))....................................................................     __

          (ak)     Form of Participation Agreement between Golden American Life Insurance Company,
                   Aetna Life Insurance and Annuity Company and Portfolio Partners, Inc. (incorporated by
                   reference from Exhibit 10(z) to Pre-Effective Amendment No. 1 to a Registration Statement
                   on Form S-1 filed by Registrant with the SEC on or about October 26, 2001
                   (File No. 333-63694))................................................................................     __

          (al)     Participation Agreement among Golden American Life Insurance Company, Putnam
                   Variable Trust and Putnam Retail Management, L.P. (incorporated by reference from
                   Exhibit 10(cc) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1
                   filed by Registrant with the SEC on or about October 26, 2001 (File No. 333-63694))..................     __

          (am)     Participation Agreement between Golden American Life Insurance Company, AIM Variable
                   Insurance Funds, Inc., and Directed Services, Inc. (incorporated by reference from Exhibit
                   10(q) to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by
                   Registrant with the SEC on or about December 11, 2001 (File No. 333-70602))..........................     __

          (an)     Form of Services Agreement between Golden American Life Insurance Company and the affiliated
                   companies listed on Exhibit B to that Agreement (incorporated by reference from Exhibit 10(p)
                   to Pre-Effective Amendment No. 1 to a Registration Statement on Form S-1 filed by Registrant
                   with the SEC on or about December 11, 2001 (File No. 333-70602)).....................................     __

          (ao)     Form of Services Agreement between Golden American Life Insurance Company and
                   ING North American Insurance Corporation, Inc. (incorporated by reference from
                   Exhibit 10(q) to Pre-Effective Amendment No. 1 to a Registration Statement on Form
                   S-1 filed by Registrant with the SEC on or about December 11, 2001 (File No. 333-70602)).............     __

          (ap)     Form of Shared Services Center Services Agreement by and among ING North America Insurance
                   Corporation ("Service Provider") and Ameribest Life Insurance Company, a Georgia corporation;
                   Equitable Life Insurance Company of Iowa, an Iowa corporation; USG Annuity & Life Company,
                   an Oklahoma corporation; Golden American Life Insurance Company, a Delaware corporation; First
                   Columbine Life Insurance Company, a Colorado corporation; Life Insurance Company of Georgia, a
                   Georgia corporation; Southland Life Insurance Company, a Texas corporation; Security Life of Denver
                   Insurance Company, a Colorado corporation; Midwestern United Life Insurance Company, an Indiana
                   corporation; and United Life & Annuity Insurance Company, a Texas corporation (incorporated by
                   reference from Exhibit 10(r) to Pre-Effective Amendment No. 1 to a Registration Statement
                   on Form S-1 filed by Registrant with the SEC on or about December 11, 2001
                   (File No. 333-70602))................................................................................     __


                                                                 32
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                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three months ended March 31, 2002
                                               GOLDEN AMERICAN LIFE INSURANCE COMPANY

                                                                                                                    Page Number
                                                                                                                    -----------
<S>                                                                                                                          <C>

          (aq)     Participation Agreement betweeen Golden American Life Insurance Company and Fidelity Distributors
                   Corporation (incorporated by reference from Exhibit 8(p) to Post-Effective Amendment No. 32 to a
                   Registration Statement on Form N-4 filed by Registrant with the SEC on or about April 26, 2002
                   (File No. 33-23351 and 811-5626))....................................................................     __


                                                                 33
</TABLE>