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, 2001
                                           -------------------------------------

                                       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  333-16279, 333-77385
                                         -------------------------

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

 New York                                               13-3919096
--------------------------------------------------------------------------------
 (State or other jurisdiction of             (IRS employer identification no.)
  incorporation or organization)

230 Park Avenue, Suite 966, New York, New York                  10169-0999
--------------------------------------------------------------------------------
(Address of principal executive offices)                         (Zip code)

Registrant's telephone number, including area code        (212) 973-9647
                                                  ------------------------------

--------------------------------------------------------------------------------
               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: 200,000 shares of Common Stock
as of May 11, 2001.


NOTE: WHEREAS FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK 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 17                                             Page 1 of 19


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<CAPTION>


                                                     FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS.

Person for whom the Financial Information is given:            First Golden American Life Insurance Company of New York

Condensed Statements of Operations (Unaudited):


                                                                                        For the Three            For the Three
                                                                                         Months Ended             Months Ended
                                                                                       March 31, 2001           March 31, 2000
                                                                              -------------------------------------------------
                                                                                           (Dollars in thousands)
<S>                                                                                             <C>                     <C>
       Revenues:
         Annuity product charges                                                                $241                    $191
         Management fee revenue                                                                   22                       8
         Net investment income                                                                   384                     462
         Realized losses on investments                                                          (52)                   (234)
                                                                              -------------------------------------------------
                                                                                                 595                     427
       Insurance benefits and expenses:
         Annuity benefits:
            Interest credited to account balances                                                 86                      88
            Benefit claims incurred in excess of account balances                                 37                      --
         Underwriting, acquisition, and insurance expenses:
            Commissions                                                                          101                     321
            General expenses                                                                     227                     164
            Insurance taxes, state licenses, and fees                                              8                      26
            Policy acquisition costs deferred                                                   (136)                   (468)
            Amortization:
              Deferred policy acquisition costs                                                  176                      97
              Value of purchased insurance in force                                               (3)                      1
            Goodwill                                                                               1                       1
                                                                              -------------------------------------------------
                                                                                                 497                     230
                                                                              -------------------------------------------------
       Income before income taxes                                                                 98                     197

       Income taxes                                                                               35                      87
                                                                              -------------------------------------------------

       Net income                                                                                $63                    $110
                                                                              =================================================


See accompanying notes.

                                                                 2
</TABLE>
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<TABLE>
<CAPTION>


Condensed Balance Sheets (Unaudited):

                                                                                    March 31, 2001     December 31, 2000
                                                                            -----------------------------------------------
                                                                            (Dollars in thousands, except per share data)
<S>                                                                                        <C>                   <C>
ASSETS
Investments:
  Fixed maturities, available for sale, at fair value
    (cost:  2001-$24,075; 2000-$25,770)                                                    $24,464               $25,204
  Short-term investments                                                                     9,405                 7,114
                                                                            -----------------------------------------------
Total investments                                                                           33,869                32,318

Cash and cash equivalents                                                                    2,263                 1,541
Due from affiliates                                                                             98                    68
Accrued investment income                                                                      461                   392
Deferred policy acquisition costs                                                            4,062                 4,170
Value of purchased insurance in force                                                           98                   113
Property and equipment, less allowances for
   depreciation of $37 in 2001 and $36 in 2000                                                  29                    30
Goodwill, less accumulated amortization of $8 in 2001
   and $7 in 2000                                                                               88                    89
Current income taxes recoverable                                                                --                    17
Other assets                                                                                    34                    17
Separate account assets                                                                     52,056                57,703
                                                                            -----------------------------------------------

Total assets                                                                               $93,058               $96,458
                                                                            ===============================================

LIABILITIES AND STOCKHOLDER'S EQUITY
Policy liabilities and accruals:
  Future policy benefits:
    Annuity products                                                                        $6,822                $7,065
Current income tax liability                                                                   176                    --
Deferred income tax liability                                                                  685                   843
Due to affiliates                                                                            1,058                   987
Other liabilities                                                                            1,951                   483
Separate account liabilities                                                                52,056                57,703
                                                                            -----------------------------------------------
                                                                                            62,748                67,081
Commitments and contingencies

Stockholder's equity:
  Preferred stock, par value $5,000 per share,
    authorized 6,000 shares                                                                     --                    --
  Common stock, par value $10 per share, authorized,
    issued, and outstanding 200,000 shares                                                   2,000                 2,000
  Additional paid-in capital                                                                26,049                26,049
  Accumulated other comprehensive income (loss)                                                413                  (457)
  Retained earnings                                                                          1,848                 1,785
                                                                            -----------------------------------------------


Total stockholder's equity                                                                  30,310                29,377
                                                                            -----------------------------------------------

Total liabilities and stockholder's equity                                                 $93,058               $96,458
                                                                            ===============================================


See accompanying notes.

                                                                 3
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<CAPTION>


Condensed Statements of Cash Flows (Unaudited):

                                                                                              For the Three          For the Three
                                                                                               Months Ended           Months Ended
                                                                                             March 31, 2001        March 31, 2000
                                                                                      ----------------------------------------------
                                                                                                 (Dollars in thousands)

<S>                                                                                                  <C>                   <C>
NET CASH PROVIDED BY OPERATING ACTIVITIES                                                            $2,089                  $296

INVESTING ACTIVITIES
Sale, maturity, or repayment of fixed maturities - available for sale                                 8,344                 1,455
Acquisition of fixed maturities - available for sale                                                 (6,711)                 (956)
Short-term investments - net                                                                         (2,291)               (1,808)
Sale of property and equipment                                                                           --                     6
                                                                                      ----------------------------------------------
Net cash used in investing activities                                                                  (658)               (1,303)

FINANCING ACTIVITIES
Proceeds from revolving note payable                                                                     --                   100
Repayment of revolving note payable                                                                      --                  (200)
Receipts from investment contracts credited to account balances                                         146                   276
Return of account balances on investment contracts                                                     (282)                  (79)
Net reallocations to Separate Account                                                                  (573)                 (794)
Contribution from parent                                                                                 --                 2,113
                                                                                      ----------------------------------------------
Net cash used in (provided by) financing activities                                                    (709)                1,416
                                                                                      ----------------------------------------------

Increase in cash and cash equivalents                                                                   722                   409
Cash and cash equivalents at beginning of period                                                      1,541                 1,026
                                                                                      ----------------------------------------------

Cash and cash equivalents at end of period                                                           $2,263                $1,435
                                                                                      ==============================================


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for:
   Interest                                                                                              --                   $11
   Income taxes                                                                                          --                    28




See accompanying notes.

                                                                 4
</TABLE>
<PAGE>


NOTE 1 -- BASIS OF PRESENTATION

The accompanying  unaudited condensed 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.  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, 2001 are not  necessarily  indicative of the results that
may be  expected  for  the  year  ending  December  31,  2001.  These  financial
statements  should be read in conjunction with the financial  statements and the
related notes included in First Golden  American Life  Insurance  Company of New
York's ("First Golden" or the "Company") annual report on Form 10-K for the year
ended December 31, 2000.

ORGANIZATION  First Golden is a stock life insurance company organized under the
laws of the  State  of New  York  and is a wholly  owned  subsidiary  of  Golden
American Life Insurance Company ("Golden American"). Golden American is a wholly
owned  subsidiary  of  Equitable  of Iowa  Companies,  Inc.  ("EIC").  EIC is an
indirect wholly owned subsidiary of ING Groep N.V., a global financial  services
holding company based in The Netherlands.

SIGNIFICANT ACCOUNTING POLICIES
NEW ACCOUNTING  STANDARDS:  As of January 1, 2001,  the Company  adopted FAS No.
133, Accounting for Derivative  Instruments and Hedging  Activities,  as amended
and  interpreted  by FAS No. 137,  Accounting  for  Derivative  Instruments  and
Hedging  Activities - Deferral of the Effective  Date of FASB Statement No. 133,
FAS No. 138,  Accounting for Certain Derivative  Instruments and Certain Hedging
Activities  - an Amendment  of FASB  Statement  No. 133, and certain FAS No. 133
implementation  issues. This standard, as amended,  requires companies to record
all derivatives on the balance sheet as either assets or liabilities and measure
those  instruments  at fair value.  The manner in which  companies are to record
gains or losses  resulting from changes in the fair values of those  derivatives
depends  on the  use of the  derivative  and  whether  it  qualifies  for  hedge
accounting.

Adoption  of FAS  No.  133 did  not  have a  material  effect  on the  Company's
financial  position  or  results  of  operations  given the  Companies'  limited
derivative and embedded derivative holdings.

The Company  chose to elect a  transition  date of January 1, 1999 for  embedded
derivatives.  Therefore,  only those derivatives  embedded in hybrid instruments
issued,  acquired or substantively modified by the entity on or after January 1,
1999 are recognized as separate assets or liabilities.  The cumulative effect of
the accounting change upon adoption was not material.

ACCOUNTING FOR DERIVATIVE  INSTRUMENTS AND HEDGING  ACTIVITIES:  The Company may
from time to time utilize various derivative instruments to manage interest rate
and price risk (collectively, market risk). The Company has appropriate controls
in place, and financial exposures are monitored and managed by the Company as an
integral part of its overall risk management program. Derivatives are recognized
on the balance sheet at their fair value.

The  Company  occasionally  purchases  a financial  instrument  that  contains a
derivative  instrument  that is  "embedded"  in the  instrument.  The  Company's
insurance  products are  reviewed to determine  whether they contain an embedded
derivative.  The Company  assesses whether the economic  characteristics  of the
embedded   derivative   are  clearly  and  closely   related  to  the   economic
characteristics  of the  remaining  component  of the  financial  instrument  or
insurance  product (i.e.,  the host contract) and whether a separate  instrument
with the same terms as the embedded  instrument  would meet the  definition of a
derivative  instrument.  When it is  determined  that  the  embedded  derivative
possesses economic  characteristics  that are not clearly and closely related to
the economic characteristics of the host contract and that a separate instrument
with the same terms  would  qualify as a  derivative  instrument,  the  embedded
derivative  is  separated  from the host  contract  and  carried at fair  value.
However,  in cases where the host  contract  is  measured  at fair  value,  with
changes in fair value  reported  in current  period  earnings  or the Company is


                                       5
<PAGE>


unable to reliably  identify and measure the embedded  derivative for separation
from its host contract,  the entire  contract is carried on the balance sheet at
fair value and is not designated as a hedging instrument.

STATUTORY
Net  income  for  First  Golden  as  determined  in  accordance  with  statutory
accounting  practices  was $154,000 and $36,000 for the three months ended March
31, 2001 and 2000,  respectively.  Total  statutory  capital  and  surplus  were
$26,775,000 at March 31, 2001 and $26,630,000 at December 31, 2000.

The National  Association of Insurance  Commissioners has revised the Accounting
Practices and Procedures Manual, the guidance that defines statutory  accounting
principles.  The  revised  manual was  effective  January 1, 2001,  and has been
adopted,  at least in part,  by the  State of New  York,  which is the  state of
domicile  for First  Golden.  The revised  manual has resulted in changes to the
accounting  practices  that the  Company  uses to  prepare  its  statutory-basis
financial   statements.   The  impact  of  these   changes  to  First   Golden's
statutory-basis capital and surplus as of January 1, 2001 was not significant.

NOTE 2 -- COMPREHENSIVE INCOME

Comprehensive  income  includes  all changes in  stockholder's  equity  during a
period except those  resulting  from  investments  by and  distributions  to the
stockholder.  Total comprehensive  income for the first quarter of 2001 and 2000
amounted  to $933,000  and  $69,000  respectively.  Other  comprehensive  income
excludes  net  investment  gains  (losses)  included in net income  which merely
represent transfers from unrealized to realized gains and losses.  These amounts
total  $(30,000) and $(130,000)  during the first three months of 2001 and 2000,
respectively.  Such amounts,  which have been measured through the date of sale,
are net of income  taxes and  adjustments  for value of  purchased  insurance in
force and deferred policy  acquisition  costs totaling  $(22,000) and $(104,000)
for the first three months of 2001 and 2000, respectively.

NOTE 3 -- DERIVATIVE INSTRUMENTS

The Company may from time to time  utilize  various  derivative  instruments  to
manage interest rate and price risk (collectively, market risk). The Company has
appropriate controls in place, and financial exposures are monitored and managed
by the Company as an integral  part of their  overall risk  management  program.
Derivatives  are  recognized on the balance sheet at their fair value.  At March
31, 2001, the Company did not utilize any such derivatives.

NOTE 4 -- RELATED PARTY TRANSACTIONS

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 Company.  DSI is authorized to enter into agreements with  broker/dealers to
distribute the Company's variable insurance products and appoint representatives
of the  broker/dealers  as agents.  The Company paid commissions to DSI totaling
$65,000  in the first  quarter  of 2001.  For the  first  quarter  of 2000,  the
commissions were $321,000.

The Company has an asset management agreement with ING Investment Management LLC
("ING  IM"),  an  affiliate,  in which  ING IM  provides  asset  management  and
accounting services. Under the agreement, the Company records a fee based on the
value of the assets  managed by ING IM.  The fee is payable  quarterly.  For the
first  quarters  of 2001 and 2000,  the  Company  incurred  fees of $75,000  and
$20,000, respectively, under this agreement.

The Company has service  agreements  with Golden  American  and  Equitable  Life
Insurance  Company of Iowa  ("Equitable  Life"),  an affiliate,  in which Golden
American  and  Equitable  Life  provide  administrative  and  financial  related
services.  Under the  agreement  with  Golden  American,  the  Company  incurred
expenses  of  $25,000  and  $121,000  for the first  quarters  of 2001 and 2000,
respectively. Under the agreement with Equitable Life, the Company did not incur
expenses  for the  first  quarter  of 2001 and  incurred  $91,000  for the first
quarter of 2000.


                                       6
<PAGE>


The Company provides resources and services to DSI. Revenues for these services,
which reduce  general  expenses  incurred by the Company,  totaled  $126,000 and
$52,000 for the first quarters of 2001 and 2000, respectively.

The Company  provides  resources and services to Golden  American.  Revenues for
these services,  which reduce general expenses incurred by the Company,  totaled
$43,000 and $148,000 for the first quarters of 2001 and 2000 respectively.

The Company had  premiums,  net of  reinsurance,  for variable  products for the
three  months ended March 31, 2001 and 2000,  respectively,  that totaled $0 and
$2,000 from Locust Street Securities, Inc., an affiliate.

The Company had  premiums  from fixed  products for the three months ended March
31, 2001 of approximately  $100,000 from Washington Square Securities,  Inc., an
affiliate.

As at March 31, 2001, the Company had a payable to Golden American in the amount
of  $500,000  related  to a payment  for taxes  made by Golden  American  on the
Company's behalf.

The Golden American Board of Directors has agreed by resolution to provide funds
as needed  for the  Company to  maintain  policyholders'  surplus  that meets or
exceeds the greater of: (1) the minimum capital adequacy standards to maintain a
level of capitalization  necessary to meet A.M. Best Company's guidelines or one
level less than the one  originally  given to First Golden,  or (2) the New York
State Insurance Department risk-based capital minimum requirements as determined
in  accordance  with New York  statutory  accounting  principles.  No funds were
transferred  from  Golden  American  in 1999 or  1998.  During  2001  and  2000,
respectively,  Golden  American  provided a cash capital  contribution of $0 and
$2,113,000 to First Golden.

NOTE 5 -- COMMITMENTS AND CONTINGENCIES

REINSURANCE:  At March 31, 2001, First Golden had two reinsurance  treaties with
two  unaffiliated  reinsurers  covering a  significant  portion of the mortality
risks and minimum death benefit guarantees under its variable  contracts.  First
Golden remains liable to the extent its reinsurers do not meet their obligations
under the reinsurance agreements.

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

At March 31, 2001 and December 31, 2000, the Company has a payable of $6,000 and
$17,000,  respectively,  for reinsurance premiums.  Included in the accompanying
financial  statements  are net  considerations  to the  reinsurers of $8,000 and
$9,000 in the first quarters of 2001 and 2000,  respectively.  In addition,  the
accompanying  financial  statements  contain net policy  benefits  recoveries of
$53,000 and $0 for the first quarter of 2001 and 2000, respectively.

LITIGATION:  The  Company,  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 Company currently believes no pending or threatened
lawsuits or actions exist that are reasonably  likely to have a material adverse
impact on the Company.

VULNERABILITY FROM CONCENTRATIONS: The Company has various concentrations in its
investment  portfolio.  As of March 31,  2001,  the Company had two  investments
(other  than bonds  issued by  agencies of the United  States  government)  each
exceeding ten percent of stockholder's  equity.  The Company's asset growth, net
investment  income,  and cash  flow  are  primarily  generated  from the sale of
variable and fixed annuities and associated future policy benefits.  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 have a severe impact to


                                       7
<PAGE>


the Company's financial condition. Two broker/dealers,  each having at least ten
percent of total variable annuity sales, generated 71% of the Company's variable
annuity   sales  in  the  three   months  ended  March  31,  2001  (94%  by  two
broker/dealers  during the same period in 2000).  Two agents  accounted  for the
fixed annuity sales in the three months ended March 31, 2001.

REVOLVING NOTE PAYABLE: To enhance short-term liquidity, the Company established
a revolving note payable with SunTrust Bank,  Atlanta (the "Bank") which expires
July 30,  2001.  The note was  approved by the  Company's  Board of Directors on
September  29,  1998.  The total  amount the  Company  may have  outstanding  is
$10,000,000.  The note accrues interest at an annual rate equal to: (1) the cost
of funds for the Bank for the period  applicable  for the advance plus 0.225% or
(2) a rate quoted by the Bank to the Company for the  advance.  The terms of the
agreement  require the Company to maintain the minimum  level of Company  Action
Level Risk Based Capital as established  by applicable  state law or regulation.
Under this  agreement,  the Company did not incur  interest  expense in 2001 and
2000.  At March 31, 2001 and  December  31,  2000,  the Company did not have any
borrowings under this agreement.

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

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

First Golden is a wholly owned  subsidiary  of Golden  American  Life  Insurance
Company ("Golden  American" or the "Parent").  Golden American is a wholly owned
subsidiary  of Equitable of Iowa  Companies,  Inc.  ("EIC").  EIC is an indirect
wholly owned subsidiary of ING Groep N.V. ("ING"),  a global financial  services
holding company based in The  Netherlands.  First Golden's primary purpose is to
offer variable insurance products in the states of New York and Delaware.

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

PREMIUMS

The Company  reported $1.5 million in variable annuity premiums and $0.4 million
of fixed annuity premiums during the first three months of 2001 compared to $5.3
million of variable  annuity  premiums for the first three months of 2000.  This
decline in premiums is primarily  due to a downturn in the equity  markets.  For
the Company's variable and fixed 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  income and product
charges.

Premiums,  net of  reinsurance,  for  variable  products  from  two  significant
broker/dealers,  each  having at least ten  percent  of total  variable  annuity
sales, for the three months ended March 31, 2001 totaled $1.0 million, or 71% of
total variable  annuity  premiums ($5.0  million,  or 94%, from two  significant
broker/dealers  for the three months ended March 31, 2000). Two agents accounted
for all of the fixed annuity sales in the three months ended March 31, 2001.

REVENUES

During the first three months of 2001 and 2000, product charges totaled $241,000
and  $191,000,  respectively.  This  increase is due to higher  average  account
balances associated with the Company's variable account options.  Management fee
revenue  increased  to $22,000  in the first  three  months of 2001 from  $8,000
during the first three months of 2000.  Net  investment  income was $384,000 for
the first  three  months of 2001.  This is a decrease  of 16.8%  compared to net
investment  income of  $462,000  for the first  three  months of 2000,  due to a
decline  in  investment  yields  in  part  due to a shift  towards  shorter-term
investments.  The Company realized investment losses of $52,000 during the first
three months of 2001.


                                       8
<PAGE>


EXPENSES

The Company  reported total  insurance  benefits and expenses of $497,000 during
the first three  months of 2001  compared to $230,000  for first three months of
2000,  mainly due to increases  in general  expenses,  amortization  of deferred
acquisition costs and a reduction in the deferral of expenses. Interest credited
to account  balances  totaled  $86,000 during the first three months of 2001 and
$88,000 for the same period in 2000.

Commissions  decreased  $220,000 in the first three months of 2001 from $321,000
during the first three  months of 2000.  Changes in  commissions  are  generally
related to changes in the level of variable  and fixed  product  sales.  General
expenses were $227,000 and $164,000 for the first three months of 2001 and 2000,
respectively.  General expenses  increased in the first three months of 2001 due
to an increase in expense allocations.

First Golden deferred $136,000 of expenses  associated with the sale of variable
and fixed annuity contracts for the three months ended March 31, 2001.  Expenses
of $468,000  were  deferred for the three  months  ended March 31,  2000.  These
acquisition  costs are amortized in proportion to the expected  gross profits of
the underlying  business.  Amortization  of deferred  policy  acquisition  costs
("DPAC")  was $176,000 for the three months ended March 31, 2001 and $97,000 for
the three months ended March 31, 2000.  The  amortization  of value of purchased
insurance  in force  ("VPIF") was ($3,000) and $1,000 for the three months ended
March 31, 2001 and 2000, respectively. During the first three months of 2001 and
2000, respectively, VPIF was adjusted to reduce amortization by $0 and $2,000 to
reflect  changes  in the  assumptions  related  to the  timing of  future  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 VPIF as of March 31,  2001 is  $9,000  for the  remainder  of 2001,
$9,000 in 2002,  $9,000 in 2003,  $7,000 in 2004,  $5,000 in 2005, and $4,000 in
2006.  Actual  amortization  may vary based  upon  changes  in  assumptions  and
experience.

INCOME

Net  income was  $63,000  for the first  three  months of 2001,  a  decrease  of
$47,000, or 42.7%, from the same period in 2000.

Comprehensive  income  for the  first  three  months  of 2001 was  $933,000,  an
increase of $864,000 from comprehensive income of $69,000 during the first three
months of 2000. The 2001 comprehensive  income is mainly comprised of unrealized
gains on fixed maturities.

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

INVESTMENTS

All of the  Company's  investments  are  carried at fair value in the  Company's
financial  statements.  The  change  in the  carrying  value  of  the  Company's
investment   portfolio   includes   changes  in  unrealized   appreciation   and
depreciation of fixed maturities as well as a decline in the cost basis of these
securities due to scheduled principal payments.

FIXED  MATURITIES:  At March 31, 2001, the Company had fixed  maturities with an
amortized  cost of $24.1 million and an estimated  fair value of $24.5  million.
The  Company  classifies  100% of its  securities  as  available  for sale.  Net
unrealized  appreciation on fixed  maturities of $389,000 was comprised of gross
appreciation  of $575,000 and gross  depreciation  of $186,000.  Net  unrealized
holding  gains on these  securities,  net of  adjustments  for VPIF,  DPAC,  and
deferred  income taxes of $362,000,  were  included in  stockholder's  equity at
March 31, 2001.

The  individual  securities  in the  Company's  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  Rating  Services  ("Standard  & Poor's")  ($14.8
million  or  61.3%),  that are rated  BBB+ to BBB- by  Standard  & Poor's  ($5.1
million or 21.1%),  and below investment grade securities,  which are securities
issued by  corporations  that are rated BB+ to BB- by  Standard  & Poor's  ($1.0
million or 4.3%).  Securities  not rated by  Standard  and Poor's had a National
Association  of Insurance  Commissioners  ("NAIC")  rating of 1 ($3.2 million or
13.3%).


                                       9
<PAGE>


Fixed  maturities rated BBB+ to BBB- 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.

The Company does not expect the  percentage of its  portfolio  invested in below
investment grade securities,  excluding mortgage-backed securities to exceed 10%
of its investment  portfolio.  At March 31, 2001, the yield at amortized cost on
the Company's below investment grade portfolio was 8.1% compared to 6.7% for the
Company's  investment grade corporate bond portfolio.  The Company estimates the
fair value of its below  investment  grade  portfolio was $995,000,  or 96.4% of
amortized cost value, at March 31, 2001.

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 issuers of investment grade securities.  The
Company  attempts  to reduce  the  overall  risk in its below  investment  grade
portfolio, as in all of its investments, through careful credit analysis, strict
investment policy guidelines, and diversification by company and by industry.

The Company analyzes its investment portfolio,  including below investment grade
securities,  at least  quarterly in order to determine if its ability to realize
its carrying value on any investment has been impaired. For debt securities,  if
impairment  in value is determined to be other than  temporary  (i.e.,  if it is
probable the Company 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  Company's  portfolio.  Significant
write-downs  in the carrying  value of investments  could  materially  adversely
affect the Company's net income in future periods.

During the three months ended March 31, 2001,  the  amortized  cost basis of the
Company's fixed maturities  portfolio was reduced by $8.4 million as a result of
sales,  maturities,  and scheduled principal  repayments.  In total, net pre-tax
losses from sales, calls, and repayments of fixed maturity  investments amounted
to $52,000 in the first three months of 2001.

At March 31, 2001, no fixed maturities were deemed to have impairments in values
that are other than temporary.  At March 31, 2001, the Company had no investment
in default.  The Company's  fixed  maturities  portfolio had a combined yield at
amortized cost of 6.5% at March 31, 2001.

OTHER ASSETS

DPAC  represents  certain  deferred  costs of acquiring new insurance  business,
principally  first year  commissions  and  interest  bonuses and other  expenses
related to production  after October 24, 1997. The Company's DPAC was eliminated
as of the ING  merger  date  and an  asset  of  $132,000  representing  VPIF was
established  for all policies in force at the ING merger date. VPIF is amortized
into income in proportion to the expected  gross profits of in force acquired in
a manner similar to DPAC  amortization.  Any expenses,  which vary directly with
the sales of the Company's  products,  are deferred and amortized.  At March 31,
2001,  the  Company  had VPIF and DPAC  balances  of  $98,000  and $4.1  million
respectively.

Goodwill totaling $96,000,  representing the excess of the acquisition cost over
the fair value of net assets acquired, was established as a result of the merger
with  ING.  Accumulated  amortization  of  goodwill  as of  March  31,  2001 was
approximately $8,000.


                                       10
<PAGE>


At March 31,  2001,  the Company had $52.1  million of separate  account  assets
compared to $57.7 million at December 31, 2000. The decrease in separate account
assets resulted  mainly from negative  equity market  returns.  This decrease is
partially  offset  by  sales  of  the  Company's  variable   products,   net  of
redemptions,  and from net policyholder transfers to the separate account option
from the fixed account option within the variable products.

At March 31, 2001, the Company had total assets of $93.1 million,  a decrease of
3.5% from December 31, 2000.

LIABILITIES

Future policy benefits  decreased  $243,000 in the first three months of 2001 to
$6.8 million due mainly to net reallocations to the Company's  separate account.
Policy reserves  represent the fixed account premiums  received plus accumulated
interest credited less mortality and administration charges net of reallocations
to the separate  accounts.  At March 31, 2001,  the Company had $52.1 million of
separate account  liabilities.  This is a decrease of 9.8% over separate account
liabilities  as of December  31,  2000.  The  decrease in the  separate  account
liabilities  resulted mainly from negative equity market returns.  This decrease
is  partially  offset  by  sales  of the  Company's  variable  products,  net of
redemptions,  and from net policyholder transfers to the separate account option
from the fixed account option within the variable products.

Other  liabilities  increased  $1,468,000  from December 31, 2000.  The increase
results primarily from payables for securities purchased at March 31, 2001.

The Company's  total  liabilities  decreased $4.3 million,  or 6.5%,  during the
first three  months of 2001 and totaled  $62.7  million at March 31,  2001.  The
change is the result of a decrease in separate account liabilities.

The effects of inflation and changing prices on the Company's 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 Company to  generate  sufficient  cash flows to
meet  the  cash  requirements  of  its  operating,   investing,   and  financing
activities.  The  Company's  principal  sources of cash are  variable  and fixed
annuity premiums and product charges,  investment income,  maturing investments,
and  capital  contributions.  Primary  uses  of  these  funds  are  payments  of
commissions and operating expenses, investment purchases,  repayment of debt, as
well as withdrawals and surrenders.

Net cash  provided  by  operating  activities  was $2.1  million the first three
months of 2001  compared to net cash  provided by  operations of $296,000 in the
same period of 2000. The increase in operating cash flows results primarily from
an increase in other liabilities relating to payables for securities purchased.

Net cash used in investing activities was $658,000 during the first three months
of 2001 compared to net cash used in investing activities of $1.3 million in the
same period of 2000.  The  decrease  results  primarily  from an increase in net
sales of fixed  maturities-available for sale of $1.6 million in the first three
months of 2001  versus  $0.5  million  in the first  three  months of 2000.  Net
purchases of short-term investments increased by $0.5 million to $2.3 million in
the first quarter of 2001.

Net cash used in financing activities was $709,000 during the first three months
of 2001 compared to cash provided by financing activities of $1.4 million during
the same period in the prior year, a decrease of $2.1 million. This is primarily
due to a  decrease  in  capital  contributions  received  from the  Parent.  The
Company's 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.  The Company has a $10.0  million  revolving  note  facility  with
SunTrust  Bank,  Atlanta,  which expires on July 30, 2001.  Management  believes
these sources of liquidity are adequate to meet the  Company's  short-term  cash
obligations.

First Golden's  principal office is located in New York, New York, where certain
of the Company's  records are maintained.  The 2,568 square feet of office space
is leased through 2001.


                                       11
<PAGE>


First Golden believes it will be able to fund the capital required for projected
new business  primarily with existing  capital and future capital  contributions
from  its  Parent.   First  Golden  expects  to  continue  to  receive   capital
contributions  from Golden  American if necessary.  It is ING's policy to ensure
adequate  capital  and surplus is provided  for the Company  and, if  necessary,
additional funds will be contributed.

The Golden American Board of Directors has agreed by resolution to provide funds
as needed  for the  Company to  maintain  policyholders'  surplus  that meets or
exceeds the greater of: (1) the minimum capital adequacy standards to maintain a
level of capitalization  necessary to meet A.M. Best Company's  guidelines for a
rating one level less than the one  originally  given to First Golden or (2) the
New York State Insurance  Department  risk-based capital minimum requirements as
determined in accordance with New York statutory accounting principles. No funds
were transferred from Golden American during the first three months of 2001.

First  Golden is required to maintain a minimum  capital and surplus of not less
than $6 million under the  provisions of the insurance  laws of the State of New
York.

Under the  provisions  of the  insurance  laws of the  State of New York,  First
Golden cannot  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 the Company  within thirty days after the filing.  The
management  of First  Golden does not  anticipate  paying any  dividends  to its
Parent during 2001.

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 Company has
complied with the NAIC's  risk-based  capital  reporting  requirements.  Amounts
reported indicate the Company has total adjusted capital well above all required
capital levels.

VULNERABILITY  FROM  CONCENTRATIONS:  First Golden's  operations  consist of one
business segment, the sale of variable and fixed annuity products.  First Golden
is not dependent upon any single customer, however, two broker/dealers accounted
for a  significant  portion of its  variable  annuity  sales volume in the first
three months of 2001.  Two agents  accounted  for the fixed annuity sales volume
during the first three months of 2001. All premiums are generated from consumers
and corporations in the states of New York and Delaware.

REINSURANCE:  At March 31, 2001, First Golden had two reinsurance  treaties with
two  unaffiliated  reinsurers  covering a  significant  portion of the mortality
risks and minimum  death  benefits  under its variable  contracts.  First Golden
remains liable to the extent its reinsurers do not meet their  obligations under
the reinsurance agreements.


                                       12
<PAGE>


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

Asset/liability  management  is  integrated  into many aspects of the  Company's
operations,  including investment decisions,  product development, and crediting
rates determination.  As part of its 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 include contractowner behavior and
the variable separate account's performance.

Contractowners bear the majority of the investment risks related to the variable
annuity  products.   Therefore,   the  risks  associated  with  the  investments
supporting the variable separate account are assumed by  contractowners,  not by
the Company (subject to, among other things,  certain minimum  guarantees).  The
Company's  products also provide  certain  minimum death benefits that depend on
the  performance  of the variable  separate  account.  Currently the majority of
death  benefit  risks are  reinsured,  which  protects  the Company 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  from the fixed  account  may be subject to a market
value adjustment.  As the liabilities in the fixed account are subject to market
value  adjustment,  the Company  does 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 Company 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
risks,  as  well  as  other  risks.  The  Company's  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 no  material
solvency  risk to the Company.  With respect to a 10% drop in equity values from
year 2001 levels, variable separate account funds, which represent 88% of the in
force, pass the risk in underlying fund performance to the contractowner (except
for certain minimum  guarantees).  With respect to interest rate movements up or
down 100 basis points from March 31, 2001 levels,  the  remaining  12% of the in
force  are fixed  account  funds  and  almost  all of these  have  market  value
adjustments  which provide  significant  protection  against changes in interest
rates.

The April  market  rebound  partially  offset  March's  year-to-date  lower than
expected separate account returns,  so that on a total year-to-date basis, April
separate  account returns are still lower than expected  returns.  The estimated
net effect of the April market  rebound would  indicate a normalized  net income
for the first  quarter of 2001 of  approximately  8% higher  than  actual  first
quarter net income. The corresponding  estimated net effect on the balance sheet
would be an increase of  approximately  $5.0  million of both  separate  account
assets and liabilities.


                                       13
<PAGE>


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

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

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

2.   Changes in the federal  income tax laws and  regulations,  which may affect
     the tax status of the Company's products.

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

4.   Increasing competition in the sale of the Company's products.

5.   Other factors that could affect the performance of the Company,  including,
     but not limited to, market conduct claims,  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 Company's variable products.



                                       14
<PAGE>


PART II. OTHER INFORMATION

ITEM 5.       OTHER INFORMATION.

PRODUCTS

The  Company  offers  variable  and fixed  insurance  products  designed to meet
customer needs for  tax-advantaged  saving for  retirement  and protection  from
death. The Company believes 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 in New York and Delaware.

Variable  and fixed  insurance  products  offered by the Company  consist of one
variable product,  DVA Plus (NY), and two fixed annuity  products,  FGA New York
Flex and FGA New York Multi Year Guarantee Annuity,  "MYGA",  which two products
First Golden began selling during the year 2001.

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




                                       15
<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 11, 2001      FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK





                               By/s/  Barnett Chernow
                                    --------------------------------------------
                               Barnett Chernow
                               President and Director
                               (Principal Executive Officer)



                               By/s/  E. Robert Koster
                                    --------------------------------------------
                               E. Robert Koster
                               Senior Vice President and Chief Financial Officer
                               (Principal Financial Officer)



<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three Months ended March 31, 2001
                                      FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK

                                                                                                                   Page Number
                                                                                                                   -----------
<S>                                                                                                                    <C>
    2      PLAN OF ACQUISITION
           (a)    Agreement and Plan of Merger dated July 7, 1997, among Equitable of Iowa Companies ("Equitable"),
                  ING Groep N.V. and PFHI Holdings, Inc. (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 First Golden American Life Insurance Company of New York
                  ("Registrant" or "First Golden") (incorporated by reference from Exhibit 3(i) to Amendment No. 1
                  to Registrant's Registration Statement on Form S-1 filed with the Securities and Exchange
                  Commission (the "SEC") on or about March 18, 1997 (File No. 333-16279))............................
                                                                                                                       ------

           (b)    By-laws of First Golden (incorporated by reference from Exhibit 3(ii) to Amendment No. 1 to
                  Registrant's Registration Statement on Form S-1 filed with the SEC on or about March 18, 1997
                  (File No. 333-16279))..............................................................................
                                                                                                                       ------

    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 a Registration Statement for First Golden on Form S-1 filed with the SEC on
                  or about April 23, 1999 (File No. 333-77385))......................................................
                                                                                                                       ------

           (b)    Individual Deferred Combination Variable and Fixed Annuity Contract Application (incorporated by
                  reference from Exhibit 4(b) to a Registration Statement for First Golden on Form S-1 filed with
                  the SEC on or about April 23, 1999 (File No. 333-77385))...........................................
                                                                                                                       ------

           (c)    Schedule Page to the DVA Plus-NY Contract featuring the Galaxy VIP Fund (incorporated by reference
                  from Exhibit 4(f) to Amendment No. 1 to a Registration Statement for First Golden on Form S-1
                  filed with the SEC on or about November 1, 1999 (File No. 333-77385))..............................
                                                                                                                       ------

   10      MATERIAL CONTRACTS
           (a)    Services Agreement, dated November 8, 1996, between Directed Services, Inc. and First Golden
                  (incorporated by reference from Exhibit 10(a) to Amendment No. 1 to Registrant's Registration
                  Statement on Form S-1 filed with the SEC on or about March 18, 1997 (File No. 333-16279))..........
                                                                                                                       ------

           (b)    Administrative Services Agreement, dated November 8, 1996, between First Golden and Golden
                  American Life Insurance Company (incorporated by reference from Exhibit 10(b) to Amendment  No. 1
                  to Registrant's Registration Statement on Form S-1 filed with the SEC on or about March 18, 1997
                  (File No. 333-16279))..............................................................................
                                                                                                                       ------




                                                                 17
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three Months ended March 31, 2001
                                      FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK

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

           (c)    Form of Administrative Services Agreement between First Golden and Equitable Life Insurance
                  Company of Iowa (incorporated by reference from Exhibit 10(c) to Amendment No. 1 to Registrant's
                  Registration Statement on Form S-1 filed with the SEC on or about March 18, 1997 (File No.
                  333-16279))........................................................................................
                                                                                                                       ------

           (d)    Form of Custodial Agreement between Registrant and The Bank of New York (incorporated by reference
                  from Exhibit 10(d) to Amendment No. 1 to Registrant's Registration Statement on Form S-1 filed
                  with the SEC on or about March 18, 1997 (File No. 333-16279))......................................
                                                                                                                       ------

           (e)    Participation Agreement between First Golden and the Travelers Series Fund Inc. (incorporated by
                  reference from Exhibit 10(e) to a Registration Statement for First Golden on Form S-1 filed with
                  the SEC on or about April 29, 1999 (File No. 333-77385))...........................................
                                                                                                                       ------

           (f)    Participation Agreement between First Golden and the Greenwich Street Series Fund Inc.
                  (incorporated by reference from Exhibit 10(f) to a Registration Statement for First Golden on Form
                  S-1 filed with the SEC on or about April 29, 1999 (File No. 333-77385))............................
                                                                                                                       ------

           (g)    Participation Agreement between First Golden and the Smith Barney Concert Allocation Series Inc.
                  (incorporated by reference from Exhibit 10(g) to a Registration Statement for First Golden on Form
                  S-1 filed with the SEC on or about April 29, 1999 (File No. 333-77385))............................
                                                                                                                       ------

           (h)    Participation Agreement between First Golden and PIMCO Variable Insurance Trust (incorporated by
                  reference from Exhibit 10(h) to a Registration Statement for First Golden on Form S-1 filed with
                  the SEC on or about April 29, 1999 (File No. 333-77385))...........................................
                                                                                                                       ------

           (i)    Participation Agreement between First Golden and The Galaxy VIP Fund (incorporated by
                  reference from Exhibit 10(l) to Amendment No. 1 to a Registration Statement for First
                  Golden on Form S-1 filed with the SEC on or about April 25, 2000 (File No. 333-77385)).............
                                                                                                                       ------

           (j)    Asset Management Agreement, dated March 30, 1998, between First Golden and ING Investment
                  Management LLC (incorporated by reference from Exhibit 10(g) to First Golden's Form 10-Q filed with
                  the SEC on August 14, 1998 (File No. 333-16279))...................................................
                                                                                                                       ------

           (k)    Underwriting Agreement between First Golden and Directed Services, Inc. (incorporated by reference
                  from Exhibit 1 to Amendment No. 1 to Registrant's Registration Statement on Form S-1 filed with
                  the SEC on or about March 18, 1997 (File No. 333-16279))...........................................
                                                                                                                       ------

           (l)    Revolving Note Payable, dated July 27, 1998, between First Golden and SunTrust Bank, Atlanta
                  (incorporated by reference from Exhibit 10(i) to First Golden's Form 10-Q filed with the SEC on
                  November 12, 1998 (File No. 333-16279))............................................................
                                                                                                                       ------


                                                                 18
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                                INDEX

                                                        Exhibits to Form 10-Q
                                                  Three Months ended March 31, 2001
                                      FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK

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

           (m)    Revolving Note Payable, dated July 31, 1999, between First Golden and SunTrust Bank, Atlanta
                  (incorporated by reference from Exhibit 10(i) to First Golden's Form 10-Q filed with the SEC on
                  August 13, 1999 (File No. 333-16279))..............................................................
                                                                                                                       ------

           (n)    Participation Agreement between First Golden and ING Variable Insurance Trust (incorporated by
                  reference from Exhibit 10(m) to Amendment No. 2 to a Registration Statement for First Golden on
                  Form S-1 filed with the SEC on or about April 26, 2000 (File No. 333-77385)).......................

                                                                                                                       ------
           (o)    Participation Agreement between First Golden and Prudential Series Fund, Inc. (incorporated by
                  reference from Exhibit 10(n) to Amendment No. 2 to a Registration Statement for First Golden on
                  Form S-1 filed with the SEC on or about April 26, 2000 (File No. 333-77385)).......................
                                                                                                                       ------

           (p)    Renewal of Revolving Note Payable, dated July 31, 2000, between First Golden and SunTrust Bank,
                  Atlanta (incorporated by reference from Exhibit 10(p) to First Golden's Form 10-Q filed with the
                  SEC on August 11, 2000 (File No. 333-16279)).......................................................
                                                                                                                       ------

           (q)    Amended Schedule Page to the Participation Agreement between First Golden and Prudential Series
                  Fund, Inc. (incorporated by reference from Exhibit 10(p) to Amendment No. 3 to a Registration
                  statement for First Golden on Form S-1 filed with the SEC on September 13, 2000 (File No.
                  333-77385))........................................................................................
                                                                                                                       ------

           (r)    Reinsurance Agreement dated December 29, 2000 between First Golden and London Life
                  Reinsurance Company of Pennsylvania (incorporated by reference from Exhibit 10(r) to
                  First Golden's Form 10-K filed with the SEC on March 28, 2001 (File No.333-16279)).................
                                                                                                                       ------




                                                                 19
</TABLE>