Document:

CUSTODY AGREEMENT
                           (U.S. SECURITIES)

      AGREEMENT,  dated as of December 13, 1996 between First Golden
American Life Insurance Company of New York Separate Account NY-B
("Customer") and The Bank of New York ("Custodian").

                               ARTICLE I
                              DEFINITIONS

      Whenever used in this Agreement, the following words shall have
the meanings set forth below:

      1.    "Authorized Person shall be any person, whether or not an
officer  or employee of Customer, duly authorized by Customer to give
Oral and/or Written Instructions on behalf of Customer, such persons to
be  designated in a Certificate of Authorized Persons which contains  a
specimen signature of such person.

      2.    "BNY Affiliate" shall mean any office, branch or subsidiary
of The Bank of New York Company, Inc.

      3.    "Book-Entry System" shall mean the Federal Reserve/Treasury
book-entry  system  for  receiving and delivering  securities, its
successors and nominees.

      4.    "Business Day" shall mean any day on which Custodian, Book-
Entry System and relevant Depositories are open for business.

      5.   "Depository" shall include the Depository Trust Company, the
Participants Trust Company and any other  securities  depository or
clearing agency (and  their  respective  successors and  nominees)
registered with  the Securities and Exchange Commission or otherwise
authorized to act as a securities depository or clearing agency.

      6.    "Oral Instructions" shall mean verbal instructions received
by  Custodian  from  an Authorized Person or from a person reasonably
believed by Custodian to be an Authorized Person.

      7.     "U.S.  Securities"  shall  include,  without  limitation,
securities held  in  the Book-Entry System or at a Depository, common
stock  and other equity securities, bonds debentures and other debt
securities, notes mortgages or other obligations, and any instruments
representing rights to receive, purchase, or subscribe for the same, or
representing any other rights or interests therein.

      8.    "Written Instructions" shall mean any notices, instructions
or   other  instruments  in  writing  received by Custodian  from an
Authorized Person or from a person reasonably believed by Custodian to
be an Authorized  Person  by letter, telex, facsimile  transmission,
Custodian's on-line communication system, or any other method  whereby
Custodians able to verify with a reasonable degree of  certainty  the
identity of the sender of such communications or the sender is required
to provide a password or other identification code.

                              ARTICLE II
                  APPOINTMENT OR CUSTODIAN; ACCOUNTS
                    REPRESENTATIONS AND WARRANTIES

      1.    Customer hereby appoints Custodian as custodian of all U.S.
Securities and cash at any time delivered to Custodian during the term
of  this Agreement,and authorizes Custodian to hold U.S. Securities in
registered  from in its name or the name of its nominees. Custodian
hereby  accepts such appointment and agrees to establish and maintain
one or more  securities accounts and cash accounts in the  name  of
Customer  (collectively,  the "Account") in which it will hold  U.S.
Securities and cash as provided herein.

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        2.     Customer   hereby   represents  and  warrants,  which
representations and warranties shall be continuing and shall be  deemed
to  be  reaffirmed  upon  each  Oral or Written  Instruction  given  by
Customer, that

           (a)   Customer is duly organized and existing under the laws
of the jurisdiction of its organization, with full power to carry on
its business as  now conducted, to enter into this Agreement and to
perform its obligations hereunder;

           (b)   This Agreement has been duly authorized, executed and
delivered  by  Customer, constitutes a valid and legally binding
obligation of Customer, enforceable in accordance with its terms, and
no  statute, regulation, rule, order, judgment or contract binding on
Customer prohibits Customer's execution or performance of this
Agreement; and

           (c)  Either Customer owns the U.S. Securities in the Account
free  and clear of all liens, claims, security interests  and
encumbrances (except those granted herein) or, if the U.S. Securities
are owned beneficially by others, Customer has the right to pledge such
U.S. Securities to the  extent  necessary to secure Customer's
obligations  hereunder, free of any right of redemption or prior  claim
by  the  beneficial owner.  Custodian's security interest  pursuant to
Article V hereof shall be a first lien and security interest subject to
no  setoffs, counterclaims or other liens prior to or on a parity with
it  in  favor  of  any  other party other than specific  liens granted
preferred  status  by statute), and Customer shall  take  any and  all
additional steps  which Custodian requires to assure  itself of  such
priority  and  status, including notifying third parties or obtaining
their consent to, Custodian's security interest.

                              ARTICLE III
                     CUSTODY AND RELATED SERVICES

      1.    Subject  to  the terms hereof, Customer hereby authorizes
Custodian to hold any Securities received by it from time to time  for
Customer's account.  Custodian shall be entitled to utilize the  Book-
Entry System and Depositories to the extend possible in connection with
its  performance hereunder. Securities and cash deposited by Custodian
in the Book-Entry System or a Depository will be held subject to
the  rules, terms  and  conditions of the Book-Entry  System  or  such
Depository.  Custodian shall identify on its books and records the U.S.
Securities  and  cash belonging to Customer, whether held  directly  or
indirectly  through  the  Book-Entry  System  or  a  Depository.   U.S.
Securities and cash of Customer deposited in the Book-Entry System or a
Depository  will be represented in accounts which include  only  assets
held by Custodian for its customers.

      2.    Custodian  shall furnish Customer with an advice of daily
transactions and a monthly summary of all transfers to or from  the
Account.

      3.    With  respect to all U.S. Securities held in the Account,
Custodian shall, unless otherwise instructed to the contrary:

           (a)  Receive  all  income  and other  payments  and advise
Customer  as  promptly as practicable of any such amounts due  but  not
paid;

           (b)  Present for payment and receive the amount paid upon all
U.S.  Securities which may mature and advise Customer as promptly  as
practicable of any such amounts due but not paid;

           (c)   Forward  to  Customer copies  of  all information  or
documents that it may receive from an issuer of U.S. Securities  which,
in  the opinion of Custodian, are intended for the beneficial owner  of
U.S. Securities;

           (d)   Execute, as custodian, any certificates of  ownership,
affidavits, declarations or other certificates under any tax  laws  now
or  hereafter in effect in connection with the collection of  bond  and
note coupons;

           (e)   Hold directly, or through the Book-Entry System  or  a
Depository, all rights and similar U.S. Securities issued with  respect
to any U.S. Securities credited to the Account hereunder; and

           (f)    Endorse  for collection checks, drafts or other
negotiable instruments.

     4.   (a)  Whenever U.S. Securities (including, but not limited to,
warrants, options, tenders, options to tender or non-mandatory puts  or
calls)  confer optional rights on Customer or provide for discretionary
action or alternative courses of action by Customer, Customer shall be
responsible for making any decisions relating thereto and for directing
Custodian to act.   In order for Custodian to act, it must  receive
Customer's  Written Instructions at Custodian's offices,  addressed  as
Custodian may
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from time to time request, not later than noon (New  York
time) at least two (2) Business Days prior to the last scheduled  date
to act with respect to such U.S. Securities (or such earlier date  or
time as Custodian  may notify Customer).  Absent Custodian's  timely
receipt of such written instructions, Custodian shall not be liable for
failure to take any action relating to or to exercise any rights
conferred by such U.S. Securities.

          (b)  Custodian shall endeavor to notify Customer of such rights
or discretionary actions or of the date or dates by when such rights must
be excercised or such action must be taken provided that Custodian has
received, from the issuer, timely  notice of such rights or discretionary
corporate action or of the date or dates such rights must be exercised or
such action must be taken.  Absent actual receipt of such notice, Custodian
shall have no liability for failing to so notify Customer.

      5.    All  voting rights with respect to U.S. Securities, however
registered,  shall  be  exercised  by Customer or its designee.
Custodian's only duty  shall be to mail to Customer any documents
(including proxy statements,  annual reports and signed  proxies)
relating to the exercise of such voting rights.

       6.     Custodian  shall  promptly  advise  Customer upon its
notification of the partial redemption, partial payment or other action
affecting less than all U.S. Securities of the  relevant class.  If
Custodian or Depository holds any U.S. Securities in which Customer has
an  interest as part of a fungible mass, Custodian or Depository  may
select the U.S. Securities to participate in such partial redemption,
partial payment or other action in any non-discriminatory manner  that
it customarily uses to make such selection.

      7.    Custodian  shall not under any circumstances accept  bearer
interest  coupons which have been stripped from United States  federal,
state or local government or agency securities unless explicitly agreed
to by Custodian in writing.

                              ARTICLE IV
                 PURCHASE AND SALE OF U.S. SECURITIES;
                          CREDITS TO ACCOUNT

      1.    Promptly after each purchase or sale of U.S. Securities  by
Customer,  Customer  shall  deliver to Custodian  Written Instructions
specifying  all information necessary for  Custodian to settle  such
purchase or sale. Custodian shall account for all purchases and sales
of U.S. Securities  on  the actual settlement date  unless otherwise
agreed to Custodian.

      2.    Customer understands  that when Custodians instructed  to
deliver  U.S. Securities against payment, delivery of such  U.S.
Securities and receipt  of  payment therefor may not  be completed
simultaneously.  Customer assumes full responsibility for all credit
risks  involved in connection with Custodian's  delivery  of U.S.
Securities pursuant to instructions of Customer.

      3.   Custodian may, as a matter of bookkeeping convenience or by
separate agreement with Customer, credit the Account with the proceeds
from  the sale, redemption or other disposition of U.S. Securities or
interest, dividends or other distributions payable on U.S. Securities
prior  to its  actual  receipt of final payment therefor.  All such
credits shall be conditional until Custodian's actual receipt of final
payment and may be reversed by Custodian to the  extent  that final
payment is  not received.  Payment with respect to a transaction will
not be "final" until Custodian  shall have received  immediately
available funds which under applicable law or rule are irreversible and
not  subject  to any security interest, levy or other encumbrance, and
which are specifically applicable to such transaction.

      4.   Custodian shall have no obligation, and shall not be liable,
for  any loss or damage whatsoever resulting from its failure to settle
any  Security transaction where the rules of a Depository  prevent the
receipt or delivery of such Security (i.e., that the Security has  been
"chilled").  Custodian may, but shall have no obligation to, attempt to
utilize alternative methods of delivering securities from time to time
offered by a Depository.

                               ARTICLE V
                      OVERDRAFTS OR INDEBTEDNESS

      If Custodian in its sole discretion advances funds to Customer or
there  shall arise for whatever reason an overdraft in the Account
(including, without limitation, overdrafts incurred in connection with
the  settlement of securities transactions or funds transfers or if
Customer is for any other reason indebted to Custodian,Customer agrees
to  repay  Custodian on demand the amount of the advance,overdraft or
indebtedness plus accrued interest at a rate  ordinarily charged by
Custodian to its institutional custody customers. In order to  secure
repayment of Customer's obligations to Custodian hereunder, Customer
hereby  agrees that Custodian shall have a continuing lien and security
interest in and to all U.S. Securities, money and other property now or
hereafter  held  in the Account (including proceeds thereof), and  any
other  property at any time held by it for the
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account of Customer.  In this regard, Custodian shall be entitled to all
the rights and remedies of a pledgee under common law and a secured party
under the New York Commercial Code and any other applicable laws, rules or
regulations as then in effect.

                              ARTICLE VI
                         CONCERNING CUSTODIAN

      1.    (a)   Custodian shall exercise the due care expected of a
professional custodian for hire with respect to the Securities in its
possession or control.  Except as otherwise expressly provided herein,
Custodian  shall  not  be  liable  for any  costs,  expenses, damages,
liabilities or claims (including  attorneys' and accounts'  fees)
incurred by or asserted against Customer, except those costs, expenses,
damages, liabilities or claims arising out of the negligence, fraud  or
wilful misconduct  of Custodian.  Custodian shall have  no  obligation
hereunder for costs, expenses, damages, liabilities or claims
(including attorneys'  or  accounts'  fees)  which are sustained or
incurred  by reason of any action or inaction by the Book-Entry System
or  any  Depository, unless such action or inaction is caused by the
negligence, fraud or wilful misconduct of Custodian.  In no event shall
Custodian  be liable to  Customer or any  third  party  for  special,
indirect or consequential damages, or lost profits or loss of business,
arising in connection with this Agreement.

            (b)   Customer  agrees  to  indemnify  Custodian  and  hold
Custodian  harmless  from  and against any  and  all  costs,  expenses,
damages,  liabilities and claims (including reasonable attorneys'  fees
and  accounts'  fees),  sustained or incurred by  or  asserted  against
Custodian  by  reason of or as a result of any action or  inaction,  or
arising  out of Custodian's performance hereunder, including reasonable
fees  and  expenses of counsel incurred by Custodian  in  a  successful
defense  of  claims  by  Customer; provided, that  Customer  shall  not
indemnify Custodian for those costs, expenses, damages, liabilities  or
claims   arising  out  of  Custodian's  negligence,  fraud  or   wilful
misconduct.   This  indemnity  shall  be  a  continuing  obligation  of
Customer,  its successors and assigns, notwithstanding the  termination
of this Agreement.

           (c)  If any loss of Securities arises out of the negligence,
fraud  or  wilful misconduct of Custodian, or if any loss of definitive
Securities   arises  out  of  the  (I)  negligence  or  dishonesty   of
Custodian's officers and employees, or (ii) burglary, robbery,  holdup,
theft  or  mysterious  disappearance, including  loss  by  damage  or
destruction (while  the  definitive Securities  are in Custodian's
physical possession), Custodian shall promptly replace such Securities
with like kind  and quality, together with all rights and  privileges
pertaining to  such Securities or, if acceptable to Customer,  deliver
the  cash equivalent  to the extent of the fair market  value  of  the
Securities as of the date of discovery of such loss.

      2.    Without limiting the generality of the foregoing, Custodian
shall  be under no obligation to inquire into, and shall not be liable
for, any losses incurred by Customer or any other person as a result of
the  receipt or  acceptance  of fraudulent,  forged  or  invalid  U.S.
Securities, or  U.S.  Securities  which  are  otherwise  not   freely
transferable or deliverable without encumbrance.

      3.    Custodian may, with respect to questions of law related to
this Agreement and Custodian's performance hereunder, obtain the advice
of  counsel, at the expense of Customer if prior approval is  received
from  Customer.  Custodian shall be fully protected  with  respect to
anything  done or omitted by it in good faith in conformity  with  such
advice.

      4.    Custodian  shall be under no obligation to take  action  to
collect any amount payable on U.S. Securities in default, or if payment
is refused after due demand and presentment.

      5.    Custodian shall have no duty or responsibility  to  inquire
into, make recommendations, supervise, or determine the suitability  of
any transactions affecting any Account.

      6.    Customer  shall  pay to Custodian the  fees  set  forth  in
Schedule I attached hereto, such fees to remain in effect for a  period
of two years from the date of this Agreement.  Customer shall reimburse
Custodian  for  all costs associated with the conversion of  Customer's
Securities hereunder and the transfer of Securities and records kept in
connection with this Agreement.  Custodian hereby waives all  customary
fees  for services performed in conjunction with the initial conversion
of  Customer's Securities hereunder and the transfer of Securities  and
records kept in connection with such Securities initially converted.

      7.   Custodian shall be entitled to rely upon any Written or Oral
Instruction  actually received by Custodian and reasonably believed  by
Custodian  to  be  duly authorized and delivered.  Customer  agrees  to
forward  to Custodian Written Instructions confirming Oral Instructions
by  the  close of business of same day that such Oral Instructions  are
given to Custodian.  Customer agrees that the fact that such confirming
Written   Instructions  are  not  received  or  that  contrary  Written
Instructions  are  received by Custodian shall in  no  way  affect  the
validity  or  enforceability of transactions authorized  by  such  Oral
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Instructions and effected by Custodian.  If Customer elects to  transmit
Written Instructions through an on-line communication system offered by
Custodian,  Customer's use thereof shall be subject to  the  Terms  and
Conditions attached hereto as Appendix I.

     8.   (a)  During Custodian's normal business hours upon receipt of
reasonable  notice  from  Customer, any  officer  or  employee  of  the
Customer, any independent account(s) selected by the Customer  and  any
person designated by any regulatory authority having jurisdiction  over
Customer   shall  be  entitled  to  examine  on  Custodian's  premises.
Securities  held  by  Custodian  on its premises  and  the  Custodian's
records  regarding  Securities held hereunder deposited  with  entities
authorized to hold Securities in accordance with Article III, Section I
hereof,  but  only upon Customer's furnishing Custodian  with  properly
authorized  instructions  to  that effect, provided,  such  examination
shall be consistent with Custodian's obligations of confidentiality  to
other  parties.   Custodian's costs and expenses in  facilitating  such
examinations shall be borne by Customer, provided that such  costs  and
expenses  are not deemed to be Custodian's costs in providing  Customer
with documents it is otherwise obligated to provide Customer hereunder.

            (b)    Custodian  shall,  subject  to  restrictions  under
applicable  law, provide for itself and seek to obtain from any entity
with  which Custodian maintains the physical possession of any of the
Securities in the Account such records of such entity relating to the
Account as may be reasonably required by the Customer or its agents in
connection  with  an internal examination by the Customer  of  its own
affairs. Upon reasonable request from Customer, Custodian shall useits
best efforts to furnish to Customer such reports (or portions thereof)
of the external auditors of each such entity as related  directly to
such entity's system of internal accounting controls applicable to its
duties under its agreement with Custodian.

      9.    It is understood that Custodian is authorized to supply any
information  regarding  the  Account which  is  required  by  any  law,
regulation or rule now or hereafter in effect.

      10.  Custodian shall not be responsible or liable for any failure
or  delay in the performance its obligations under this Agreement
arising out of or caused, directly or indirectly, by circumstances
beyond  its reasonable control, including without limitation,  acts  of
God; earthquakes; fires; floods; wars; civil or military disturbances;
sabotage; epidemics; riots; interruptions, loss  or  malfunctions  of
utilities, computer (hardware or software)or communications  service;
accidents; labor  disputes; acts of civil or military  authority  or
governmental actions; it being understood that Custodian shall use  its
best efforts to resume performance as soon as practicable  under  the
circumstances.

      11.   Custodian  may  enter  into  subcontracts,  agreements  and
understands  with  any BNY Affiliate, whenever and on  such  terms  and
conditions as it deems necessary or appropriate to perform its services
hereunder.   No  such  subcontract, agreement  or  understanding  shall
discharge Custodian from its obligations hereunder.

      12.   Custodian  shall notify  Customer  promptly of missing
Securities which could effect the sale, redemption or other payments to
Customer related to such missing Securities.  Custodian shall  notify
Customer of any position shortages older than 30 days in any Security
held by Customer.

      13.   Custodian shall have no duties or responsibilities whatsoever
except such duties and responsibilities as are specifically set forth
in this Agreement, and no covenant or obligation shall be implied
against Custodian in connection with this Agreement.

                              ARTICLE VII
                              TERMINATION

      Each  party may terminate this Agreement by giving to the other
party a notice  in  writing specifying the date of such  termination,
which  shall be not less than ninety (90) days after the date of such
notice. Upon termination hereof, Customer shall pay to Custodian  such
compensation  as may be due to Custodian, and shall likewise  reimburse
Custodian  for  other  amounts  payable or  reimbursable to Custodian
hereunder.  Custodian  shall follow such reasonable Oral or Written
Instructions  concerning  the  transfer of  custody  of  records, U.S.
Securities and other items as Customer shall give; provided, that  (a)
Custodian  shall  have no liability for shipping and insurance  costs
associated  therewith, and (b) full payment shall have been  made  to
Custodian of its compensation, costs, expenses and other amounts  to
which  it is entitled hereunder.  If any U.S. Securities or ash remain
in  the Account, Custodian may deliver to Customer such U.S. Securities
and  cash.  Upon termination of this Agreement,  except  as otherwise
provided herein, all obligations of the parties to each other hereunder
shall cease.
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                             ARTICLE VIII
                             MISCELLANEOUS

      1.   Customer agrees to furnish to Custodian a new Certificate of
Authorized  Persons  in the event of any change  in  the then  present
Authorized  Persons. Until such new Certificate is received, Custodian
shall  be fully protected in acting upon Oral Instructions and Written
Instruction of such present Authorized Persons.

      2.    Any  notice or other instrument in writing, authorized  or
required by this Agreement to be  given  to  Custodian, shall  be
sufficiently given if addressed to Custodian and received by it at  its
offices at One Wall Street - Financial Instructions Division, New York,
New  York 10286, or at such other place as Custodian may from  time  to
time designate in writing.

      3.    Any  notice or other instrument in writing, authorized or
required  by this  Agreement to be  given  to  Customer  shall be
sufficiently given if addressed to Customer and received by it at  its
offices at 604 Locust Street, P.O. Box 1635, Des Moines, Iowa  50306-
1635, or at such  other place as Customer may from time to time
designate in writing.

      4.    Each  and every right granted to either party hereunder  or
under any other document delivered hereunder or in connection herewith,
or  allowed  it by law  or equity, shall be cumulative and may be
exercised from ime to time.  No failure on the part of either party to
exercise,  and  no  delay in exercising, any right will operate  as  a
waiver thereof, nor will any single or partial exercise by either party
of  any  right  preclude any other or future exercise  thereof  or  the
exercise of any other right.

      5.    In case any provision in or obligation under this Agreement
shall be invalid,  illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions shall
not  in any way be affected thereby.  This Agreement may not be amended
or  modified  in any manner except by a written agreement  executed  by
both parties.  This Agreement shall extend to and shall be binding upon
the  parties  hereto, and their respective  successors and  assigns;
provided, however,  that this Agreement shall not  be assignable  by
either party without the written consent of the other.

      6.    This  Agreement shall be construed in accordance with the
substantive laws of the State of New York, without regard to conflicts
of  laws principles thereof.  Customer and Custodian hereby consent to
the jurisdiction of a state or federal court situated in New York City,
New  York  in  connection with any dispute arising hereunder.  To the
extent  that in any  jurisdiction Customer may now or hereafter be
entitled  to claim, for  itself or its assets, immunity  from  suit,
execution, attachment (before or after judgment) or other legal
process, Customer  irrevocably agrees not to claim, and it hereby
waives, such immunity.

      7.    The  parties hereto agree that in performing  hereunder,
Custodian is acting solely on behalf of Customer and no contractual  or
service  relationship shall be deemed to be established hereby  between
Custodian and any other person.

     8.   This Agreement may be executed in any number of counterparts,
each  of which shall be deemed to be an original, but such counterparts
shall, together, constitute only one instrument.

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      IN  WITNESS  WHEREOF, Customer and Custodian have caused this
Agreement to be executed by their respective officers, thereunto  duly
authorized, as of the day and year first above written.

                         FIRST GOLDEN AMERICAN LIFE
                         INSURANCE COMPANY OF NEW YORK

                                 By: /s/Myles R. Tashman
                                    -------------------------
                                        Myles R. Tashman
                                 Title: Executive Vice President

                         Tax Identification No.: 13-3919096

                         THE BANK OF NEW YORK

                                 By: /s/Christopher M. Teevan
                                    --------------------------
                                        Christopher M. Teevan
                                 Title: Vice President

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                              APPENDIX I

                         THE BANK OF NEW YORK
             ON-LINE COMMUNICATIONS SYSTEM (THE "SYSTEM")

                         TERMS AND CONDITIONS

     1.   License; Use.  Upon delivery to Customer of software enabling
Customer to  obtain access to the System (the "Software"), Custodian
grants to Customer a personal, nontransferable and nonexclusive license
to  use the  Software  solely  for the  purpose  of  transmitting  and
receiving  communications  to  and from Custodian in connection  with
Customer's  Account(s). Customer shall not sell, lease or otherwise
provide, directly or indirectly, the Software or any portion thereof to
any other person or entity without the written consent of Custodian.

      2.    Equipment.  Customer shall obtain and maintain at  its  own
cost  and expense all equipment and services, including but not limited
to  communications services, necessary for it to utilize  the  Software
and obtain access to the System, and Custodian shall not be responsible
for the reliability or availability of any such equipment or services.

      3.    Proprietary  Information.  Customer acknowledges that the
Software, all data bases made available to Customer through the System,
and  any  proprietary  data, processes, information  and documentation
(other than  which  are or become part of the  public domain  or are
legally required to be made available to the public) (collectively, the
"Information"),  are  the  exclusive  and  confidential  property  of
Custodian.  Customer shall keep the Information confidential by suing
the same care and discretion that Customer uses with respect to its own
confidential property  and trade secrets and shall  neither  make  nor
permit  any disclosure without the prior written consent of Custodian.
Upon  termination  of  the  Agreement or the Software  license  granted
hereunder  for  any  reason, Customer shall return all  copies  of  the
Information to Custodian.

      4.    Modifications.  Custodian reserves the right to modify the
Software from time to time and Customer shall install new releases  of
the Software as Custodian may direct.  Customer agrees not to modify or
attempt to  modify  the  Software without  Custodian's  prior  written
consent. Customer acknowledges that any modifications to the Software,
whether   by  Customer  or  Custodian and whether with or without
Custodian's consent, shall be come the property of Custodian.

      5.    No  Representations  or  Warranties.  Custodian makes  no
warranties  or representations of any kind with regard to the Software
or  the System, including but not limited to any implied warranties  of
merchantability or fitness for a particular purpose.

      6.    Security; Reliance; Unauthorized Use.  Customer will  cause
all  persons utilizing the Software and System to treat all applicable
user  and  authorization codes, passwords and authentication keys with
extreme  care.  Custodian is hereby irrevocably authorized  to act in
accordance with and rely on Written Instructions received by it through
the  System.   Customer acknowledges that it is its sole responsibility
to  assure that only  Authorized Persons use the System  and that
Custodian shall not be responsible nor liable for any unauthorized use
thereof.

      7.   System Acknowledgments.  Custodian shall acknowledge through
the System its receipt of each Written Instruction communicated through
the  System, and in the absence of such acknowledgment Custodian  shall
not be liable for any failure to act in accordance with such Written
Instruction and Customer may not clam that such Written Instruction was
received by Custodian.

                                 A-1PARTICIPATION AGREEMENT

                                    AMONG

                   SMITH BARNEY/TRAVELERS SERIES FUND INC.,

                  SMITH BARNEY MUTUAL FUNDS MANAGEMENT INC.

                                     AND

                  RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

     THIS AGREEMENT, made as of the ____ day of ___________, 1997 and effective
as of the ____ day of ___________, 1995 by and among the RELIASTAR LIFE
INSURANCE COMPANY OF NEW YORK, (hereinafter the "Company"), on its own
behalf and on behalf of each segregated asset account of the Company set forth
on Schedule A hereto as may be amended from time to time (each such account
hereinafter referred to as  the  "Account"),  the  SMITH BARNEY/TRAVELERS SERIES
FUND INC., a Maryland corporation (hereinafter the "Fund"), and SMITH BARNEY
MUTUAL FUNDS MANAGEMENT INC. (hereinafter the "Adviser"), a Delaware
corporation.

     WHEREAS, the Fund engages in business as an open-end management
investment company and is available to act as the investment vehicle for
separate  accounts  established for variable annuity contracts and, subject to
an  order  expected to be obtained from the Securities and Exchange Commission
(the "SEC"), expects to be available to act as the investment vehicle for
certain  qualified  pension  and  retirement plans ("Qualified Plans") and for
separate accounts established for variable life insurance policies (such
variable  life  insurance  policies and variable annuity contracts are herein,
collectively,  the  "Variable  Insurance Products") to be offered by insurance
companies  which  have entered into participation agreements with the Fund and
the Adviser (hereinafter "Participating Insurance Companies"); and

     WHEREAS, the beneficial interests in the Fund are divided into several
series of shares, each representing the interest in a particular managed
portfolio of securities and other assets; and

     WHEREAS, the Fund desires to make shares of such managed portfolios as
are  listed  on  Schedule B attached hereto, as such Schedule B may be amended
from  time  to  time  hereafter by mutual written agreement of all the parties
hereto,  available to the  Company for purchase (each such listed portfolio, a
"Portfolio"); and

     WHEREAS, the Fund is seeking and expects to obtain an order from the SEC,
granting  Participating  Insurance Companies and variable annuity and variable
insurance  separate  accounts exemptions from the provisions of Sections 9(a),
13(a),  15(a),  and  15(b)  of the Investment Company Act of 1940, as amended,
(hereinafter the "l940 Act") and Rules 6e-2(b)(15) and 6e-3(T)(b)(15)
thereunder, to the extent necessary to permit shares of the Fund to be sold to
and  held by variable annuity and variable life insurance separate accounts of
both  affiliated  and  unaffiliated  life insurance companies (hereinafter the
"Mixed and Shared Funding Exemptive Order"); and

     WHEREAS, the Fund is registered as an open-end management investment
company  under the l940 Act and its shares are registered under the Securities
Act of 1933, as amended (hereinafter the "1933 Act"); and

     WHEREAS, the Adviser is duly registered as an Investment Adviser under
the Federal Investment Advisers Act of 1940 and any applicable state
securities law; and

     WHEREAS, the Company has registered or will register certain variable
life and variable annuity contracts under the 1933 Act; and

     WHEREAS, each Account is a duly organized, validly existing segregated
asset account, established by resolution of the Board of Directors of the
Company, on the date shown for such Account on Schedule A hereto, to set aside
and invest assets attributable to one or more variable life and annuity
contracts; and

     WHEREAS, the Company has registered or will register each Account as a
unit investment trust under the l940 Act; and

     WHEREAS, to the extent permitted by applicable insurance laws and
regulations, the Company intends to purchase shares in the Portfolios on
behalf of each Account to fund certain of the aforesaid variable life and
variable annuity contracts,

     NOW, THEREFORE, in consideration of their mutual promises the Company,
the Fund and the Adviser agree as follows:

ARTICLE I.  SALE OF FUND SHARES

     1.1.  The Fund agrees to sell to the Company those shares of the Fund
which  each  Account orders, executing such orders on a daily basis at the net
asset  value  next  computed  after receipt by the Fund or its designee of the
order for the shares of the Fund.  For purposes of this Section l.l, the
Company shall be the designee of the Fund for receipt of such orders from each
Account  and  receipt  by  such designee shall constitute receipt by the Fund;
provided  that  the  Fund  receives notice of such order by 10:00 a.m. Eastern
time on the next following Business Day.  "Business Day" shall mean any day on
which  the  New  York Stock Exchange is open for trading and on which the Fund
calculates  its  net  asset  value pursuant to the rules of the Securities and
Exchange Commission.

     1.2.  The Fund agrees to make its shares available indefinitely for
purchase  at  the  applicable net asset value per share by the Company and its
Accounts on those days on which the Fund calculates its net asset value
pursuant to rules of the SEC and the Fund shall use reasonable efforts to
calculate  such  net asset value on each day which the New York Stock Exchange
is open for trading.  Notwithstanding the foregoing, the Board of Directors of
the  Fund (hereinafter the "Board") may refuse to sell shares of any Portfolio
to any person, or suspend or terminate the offering of shares of any Portfolio
if such action is required by law or by regulatory authorities having
jurisdiction  or  is, in the sole discretion of the Board acting in good faith
and  in light of their fiduciary duties under federal and any applicable state
laws, necessary in the best interest of the shareholders of such Portfolio.

     1.3.  The Fund and the Adviser agree that shares of the Fund will be sold
only  to Participating Insurance Companies and their separate accounts and, in
accordance  with  the  terms  of the Mixed and Shared Funding Exemptive Order,
certain Qualified Plans.  No shares of any Portfolio will be sold to the
general public.

     1.4.  The Fund will not sell Fund shares to any insurance company or
separate  account  unless an agreement containing provisions substantially the
same as Articles I and VII, Section 2.5 of Article II and Sections 3.4 and 3.5
of Article III of this Agreement is in effect to govern such sales.

     1.5.  The Fund agrees to redeem for cash, on the Company's request, any
full or fractional shares of the Fund held by the Company, executing such
requests  on  a daily basis at the net asset value next computed after receipt
by  the  Fund  or its designee of the request for redemption.  For purposes of
Sections  2.10  and  2.11,  upon the payment by the Fund to the Company of the
proceeds of such redemptions, such proceeds shall cease to be the
responsibility of the Fund and shall become the responsibility of the Company.
For  purposes  of this Section 1.5, the Company shall be the designee of the
Fund  for  receipt of requests for redemption from each Account and receipt by
such  designee  shall  constitute  receipt by the Fund; provided that the Fund
receives  notice  of such request for redemption by 10:00 a.m. Eastern time on
the next following Business Day.

     1.6.  The Company agrees to purchase and redeem the shares of each
Portfolio  offered  by  the  then current prospectus of the Fund in accordance
with the provisions of such prospectus.  The Company agrees that all net
amounts  available under the variable life and variable annuity contracts with
the form number(s) which are listed on Schedule C attached hereto and
incorporated  herein by this reference, as such Schedule C may be amended from
time  to  time hereafter by mutual written agreement of all the parties hereto
and which such contracts have been sold pursuant to an Annuity Selling
Agreement dated February 10, 1995, by and between the Company, PFS Investments
Inc. and Primerica Financial Services, Inc. (the "Contracts"), shall be
invested  in the Portfolios, in such other funds advised by the Adviser as may
be  mutually  agreed  to in writing by the parties hereto, or in the Company's
general account, provided that such amounts may also be invested in an
investment  company  other than the Fund if (a) such other investment company,
or series thereof, has investment objectives or policies that are
substantially  different  from  the  investment objectives and policies of the
Portfolios  of  the Fund; or (b) the Company gives the Fund and the Adviser 60
days  written  notice  of  its intention to make such other investment company
available as a funding vehicle for the Contracts; or (c) such other investment
company was available as a funding vehicle for the Contracts prior to the date
of  this  Agreement  and  the Company so informs the Fund and Adviser prior to
their  signing  this Agreement; or (d) the Fund or Adviser consents to the use
of such other investment company.

     1.7.  The Company shall pay for Fund shares on the next Business Day after
an  order to purchase Fund shares is made in accordance with the provisions of
Section  1.1  hereof.  Payment shall be in federal funds transmitted by wire.
For  purpose  of Section 2.9 and 2.10, upon receipt by the Fund of the federal
funds so wired, such funds shall cease to be the responsibility of the Company
and shall become the responsibility of the Fund.

     1.8.  Issuance and transfer of the Fund's shares will be by book entry
only.  Stock certificates will not be issued to the Company or any Account.
Shares ordered from the Fund will be recorded in an appropriate title for each
Account or the appropriate subaccount of each Account.

     1.9.  The Fund shall furnish notice (by wire or telephone, followed by
written  confirmation)  as soon as is reasonably practicable to the Company of
any income, dividends or capital gain distributions payable on the Fund's
shares.    The  Company hereby elects to receive all such income dividends and
capital gain distributions as are payable on the Portfolio shares in
additional shares of that Portfolio.  The Company reserves the right to revoke
this election and to receive all such income dividends and capital gain
distributions  in  cash.    The Fund shall notify the Company of the number of
shares so issued as payment of such dividends and distributions.

     1.10.  The Fund shall make the net asset value per share for each
Portfolio available to the Company on a daily basis as soon as reasonably
practical  after  the  net  asset value per share is calculated (normally 6:30
p.m. Eastern time) and shall use its best efforts to make such net asset value
per share available by 7:00 p.m. Eastern time.  If the Fund provides the
Company  with  the incorrect share net asset value information, the Company on
behalf  of  the Account shall be entitled to a prompt adjustment to the number
of shares purchased or redeemed to reflect the correct share net asset value.
Upon  a final determination that there has been an error in the calculation of
net asset value, dividend or capital gain, the Fund shall report such error to
the Company.

ARTICLE II.  REPRESENTATIONS AND WARRANTIES

     2.1.  The Company represents and warrants that the Contracts are or will
be  registered  under the 1933 Act; that the Contracts will be issued and sold
in  compliance  in all material respects with all applicable Federal and State
laws  and that the sale of the Contracts shall comply in all material respects
with state insurance suitability requirements.  The Company further represents
and warrants that it is an insurance company duly organized and in good
standing  under applicable law and that it has legally and validly established
each Account prior to any issuance or sale thereof as a segregated asset
account  under  Iowa  Code  Section 508A.1 and has registered or, prior to any
issuance or sale of the Contracts, will register each Account as a unit
investment trust in accordance with the provisions of the 1940 Act to serve as
a segregated investment account for the Contracts.

     2.2.  The Fund represents and warrants that Fund shares sold pursuant to
this Agreement shall be registered under the 1933 Act, shall be duly
authorized  for  issuance and sold in compliance with the laws of the State of
Maryland  and  all  applicable  federal and state securities laws and that the
Fund  is and shall remain registered under the 1940 Act.  The Fund shall amend
the  Registration Statement for its shares under the 1933 Act and the 1940 Act
from  time  to  time as required in order to effect the continuous offering of
its  shares.    The  Fund shall register and qualify the shares for sale where
necessary as determined by the Fund or the Adviser in accordance with the laws
of the various states.

     2.3.  The Fund represents that it is currently qualified as a Regulated
Investment Company under Subchapter M of the Internal Revenue Code of 1986, as
amended, (the "Code") and that it will make every effort to maintain such
qualification  (under  Subchapter M or any successor or similar provision) and
that it will notify the Company immediately upon having a reasonable basis for
believing  that it has ceased to so qualify or that it might not so qualify in
the future.

     2.4.  The Company represents that the Contacts are currently treated as
endowment,  annuity or life insurance contacts, under applicable provisions of
the  Code  and  that  it will make every effort to maintain such treatment and
that it will notify the Fund and the Adviser immediately upon having a
reasonable basis for believing that the Contracts have ceased to be so treated
or that they might not be so treated in the future.

     2.5.  The Fund currently does not intend to make any payments to finance
distribution  expenses pursuant to Rule 12b-1 under the 1040 Act or otherwise,
although it may make such payments in the future.  To the extent that it
decides to finance distribution expenses pursuant to Rule 12b-1, the Fund
undertakes to have a board of directors, a majority of whom are not interested
persons of the Fund, formulate and approve any plan under Rule 12b-1 to
finance distribution expenses.

     2.6.  The Fund makes no representation as to whether any aspect of its
operations  (including,  but not limited to, fees and expenses  and investment
polices) complies with the insurance laws or regulations of the various states
except that the Fund and the Adviser represent that their respective
operations  are  and shall at all times remain in material compliance with the
laws of the State of Maryland to the extent required to perform this
Agreement.

     2.7.  The Fund represents that it is lawfully organized and validly
existing  under  the  laws  of the State of Maryland and that it does and will
comply in all material respects with the 1940 Act.

     2.8.  The Adviser represents and warrants that the Adviser is and shall
remain  duly  registered in all material respects under all applicable federal
and  state  securities laws and that the Adviser shall perform its obligations
for the Fund in compliance in all material respects with the laws of the State
of Maryland and any applicable state and federal securities laws.

     2.9.  The Fund and Adviser represent and warrant that all of their
directors, officers, employees, investment advisers, and other
individuals/entities  dealing with the money and/or securities of the Fund are
and  shall  continue  to be at all times covered by a blanket fidelity bond or
similar  coverage  for  the benefit of the Fund in an amount not less than the
minimal coverage as required currently by Rule 17g-1 of the 1940 Act or
related  provisions  as  may  be promulgated from time to time.  The aforesaid
Bond  shall  include coverage for larceny and embezzlement and shall be issued
by a reputable bonding company.

     2.10.  The Company represents and warrants that all if any of its
directors, officers, employees, investment advisers, and other
individuals/entities  deal  with  the money and/or securities of the Fund they
will at all such times be covered by a blanket fidelity bond or similar
coverage  for  the benefit of the Fund, in an amount not less than the minimal
coverage  as  required  by Rule 17g-1 of the 1940 Act or related provisions as
may be promulgated from time to time.  The aforesaid Bond shall include
coverage for larceny and embezzlement and shall be issued by a reputable
bonding company.

ARTICLE III.  PROSPECTUSES AND PROXY STATEMENTS; VOTING

     3.1.  The Adviser and the Fund shall provide to the Company such
documentation (including a final copy of the Fund's most current prospectus as
set in type at the Fund's expense) and other assistance as is reasonably
necessary  in  order for the Company once each year (or more frequently if the
prospectus  for  the Fund is amended) to have the prospectus for the Contracts
and  the  Portfolios' prospectus printed (such printing to be at the Company's
expense except as provided in Section 5.3 hereof).

     3.2.  The Fund's prospectus shall state that the Statement of Additional
Information ("SAI") for the Fund is available from the Adviser (or in the
Fund's  discretion, the Prospectus shall state that such SAI is available from
the Fund), and the Adviser (or the Fund), at its expense, shall print and
provide one copy of such SAI free of charge to the Company and to any owner of
a  Contract or prospective owner who requests such Statement.  The Company may
make additional copies of the SAI at its expense.

     3.3.  The Fund, at its expense, shall provide the Company with copies of
its proxy material, reports to shareholders, and other communications to
shareholders in such quantity as the Company shall reasonably require for
distributing  to  Contract  owners;  provided, however, that the Company shall
bear the expenses for the costs of printing and distributing any proxy
material,  reports  to  shareholders  and other communications to shareholders
that are prepared at the request of the Company.

     3.4.  If and to the extent required by law the Company shall:
          (i)   solicit voting instructions from Contract owners;
          (ii)  vote the Fund shares in accordance with instructions received
                from Contract owners; and
          (iii) vote Fund shares for which no instructions have been received
                in the same proportion as Fund shares of such Portfolio for
                which instructions have been received;

so long as and to the extent that the SEC continues to interpret the 1940 Act
to require pass-through voting privileges for owners of Variable Insurance
Products.  The Company  reserves  the  right to vote Fund shares held in any
segregated asset account in its own right, to the extent permitted by law.
Participating Insurance Companies shall be responsible for assuring that each
of their separate  accounts participating in the Fund calculates voting
privileges in a manner consistent with this Section.

     3.5.  The Fund will comply with all provisions of the 1940 Act requiring
voting by shareholders.

ARTICLE IV.  SALES MATERIAL AND INFORMATION

     4.1.  The Company shall furnish, or shall cause to be furnished, to the
Fund or its designee, each piece of sales literature or other promotional
material  in  which the Fund, the Adviser, or the Fund's underwriter is named,
at  least  ten Business Days prior to its use.  No such material shall be used
if  the Fund or its designee object to such use within ten Business Days after
receipt of such material.

     4.2.  The Company shall not give any information or make any
representations  or statements on behalf of the Fund or concerning the Fund in
connection with the sale of the Contracts other than the information or
representations  contained in the registration statement or prospectus for the
Fund  shares,  as such registration statement and prospectus may be amended or
supplemented from time to time, or in reports or proxy statements for the
Fund,  or  in  sales  literature or other promotional material approved by the
Fund or its designee or by the Adviser, except with the permission of the Fund
or the Adviser or the designee of either.

     4.3.  The Fund, and the Adviser, or its designee shall furnish, or shall
cause  to  be  furnished,  to the Company or its designee, each piece of sales
literature or other promotional material in which the Company and/or its
separate account(s), is named at least ten Business Days prior to its use.  No
such  material shall be used if the Company or its designee object to such use
within ten Business Days after receipt of such material.

     4.4.  The Fund and the Adviser shall not give any information or make any
representations on behalf of the Company or concerning the Company, each
Account, or the Contracts other than the information or representations
contained in a registration statement or prospectus for the Contracts, as such
registration statement and prospectus may be amended or supplemented from time
to time, or in published reports for each Account which are in the public
domain  or  approved by the Company for distribution to Contract owners, or in
sales  literature or other promotional material approved by the Company or its
designee, except with the permission of the Company.

     4.5.  The Fund will provide to the Company at least one complete copy of
all registration statements, prospectuses, Statements of Additional
Information, reports, proxy statements, sales literature and other promotional
materials,  applications  for  exemptions, requests for no-action letters, and
all  amendments to any of the above, that relate to the Fund or its shares, as
soon  as  is reasonably practicable after the filing of such document with the
SEC or other regulatory authorities.

     4.6.  The Company will provide to the Fund at least one complete copy of
all registration statements, prospectuses, Statements of Additional
Information, annual and semi-annual reports, solicitations for voting
instructions, applications for exemptions, requests for no action letters, and
all amendments to any of the above, that relate to the Contracts or each
Account, as soon as is reasonably practicable after the filing of such
document with the SEC or other regulatory authorities.

     4.7.  For purposes of this Article IV, the phrase "sales literature or
other  promotional  material"  includes, but is not limited to, advertisements
(such as materials published, or designed for use in, in a newspaper,
magazine, or other periodical, radio, television, telephone or tape recording,
videotape display, signs or billboards, motion pictures, or other public
media),  sales literature (i.e., any written communication distributed or made
generally available to customers or the public, including brochures,
circulars, research reports, market letters, form letters, seminar texts,
reprints or excerpts of any other advertisement, sales literature, or
published  article), educational or training materials or other communications
distributed  or  made  generally available to some or all agents or employees,
and registration statements, prospectuses, Statements of Additional
Information, shareholder reports, and proxy materials.

ARTICLE V.  FEES AND EXPENSES

     5.1.  The Fund and Adviser shall pay no fee or other compensation to the
Company  under this Agreement, except that if the Fund or any Portfolio adopts
and implements a plan pursuant to Rule 12b-1 to finance distribution expenses,
then the underwriter may make payments to the Company for the Contracts if and
in  amounts agreed to by the Adviser in writing and such payments will be made
out  of  existing  fees  otherwise payable to the Adviser, past profits of the
Adviser  or  other  resources available to the Adviser, or by the Fund, to the
extent permitted.  Currently, no such payments are contemplated.

     5.2.  All expenses incident to performance by the Fund under this
Agreement shall be paid by the Fund.  Except as provided in sections 3.1, 3.2,
3.3 and 5.3 hereof, the Fund shall bear the expenses for the cost of
registration and qualification of the Fund's shares, preparation and filing of
the Fund's prospectus and registration statement, proxy materials and reports,
setting the prospectus in type, setting in type and printing the proxy
materials  and reports to shareholders (including, if so elected, the costs of
printing  a  prospectus that constitutes an annual report), the preparation of
all  statements and notices required by any federal or state law, all taxes on
the issuance or transfer of the Fund's shares.

     5.3.  The printing and distributing of the prospectus for the Portfolios
(or that portion of a prospectus relating to the Portfolios should the Company
determine to print a combined prospectus) to existing owners of Contracts
shall be at the expense of the Fund.

ARTICLE VI.  DIVERSIFICATION

     6.1.  Subject to the following sentence, the Fund will at all times
comply with Section 817(h) of the Code and Treasury Regulation 1.817-5,
relating  to the diversification requirements for variable annuity, endowment,
or  life insurance contracts and any amendments or other modifications to such
Section or Regulations.  In the event of any changes to such Section or
Regulations  relating to the treatment of variable contracts, the Company will
advise the Fund of such changes.

ARTICLE VII.  POTENTIAL CONFLICTS

     7.1  The parties to this Agreement acknowledge that the Fund has filed an
application  with the SEC to request an order (the "Exemptive Order") granting
relief from various provisions of the 1940 Act and the rules thereunder to the
extent necessary to permit Fund shares to be sold to and held by variable
annuity  and  variable life insurance separate accounts of both affiliated and
unaffiliated  Participating  Insurance  Companies  and Qualified Plans.  It is
anticipated  that  the  Exemptive Order, when and if issued, shall require the
Fund  and  each  Participating Insurance Company to comply with conditions and
undertakings  substantially  as provided in this Article VII. If the Exemptive
Order imposes conditions on the Company materially different from those
provided  for  in this Article VII, the conditions and undertakings imposed by
the Exemptive Order shall govern this Agreement.  The Fund will not enter into
a participation agreement with any other Participating Insurance Company
unless  it  imposes the same conditions and undertakings as are imposed on the
Company hereby.

     7.2  The Company will report any potential or existing conflicts promptly
to  the  Board,  and in particular whenever contract owner voting instructions
are disregarded, and recognizes that it shall be responsible for assisting the
Board  in  carrying  out its responsibilities in connection with the Exemptive
Order.    The Company agrees to carry out such responsibilities with a view to
the interests of contract owners.

     7.3.  If it is determined by a majority of the Board, or a majority of
its  disinterested  directors  that a material irreconcilable conflict exists,
the Company and other Participating Insurance Companies shall, at their
expense  and to the extent reasonably practicable (as determined by a majority
of the disinterested trustees), take whatever steps are necessary to remedy or
eliminate  the irreconcilable material conflict, including but not limited to:
(1)  withdrawing  the assets allocable to some or all of the separate accounts
from the Fund or any Portfolio and reinvesting such assets in a different
investment  medium,  including  (but  not limited to) another Portfolio of the
Fund, or submitting the question whether such segregation should be
implemented,  to  a  vote of all affected Contract owners and, as appropriate,
segregating the assets of any appropriate group (i.e., annuity contract
owners,  life insurance contract owners, or variable contract owners of one or
more Participating Insurance Companies) that votes in favor of such
segregation,  or offering to the affected contract owners the option of making
such  a  change;  and  (2) establishing a new registered management investment
company or managed separate account.

     7.4  If a material irreconcilable conflict arises as a result of a
decision  by  the  Company to disregard contract owner voting instructions and
said decision represents a minority position or would preclude a majority vote
by all contract owners having an interest in the Fund, the Company may be
required, at the Board's election, to withdraw the Account's investment in the
Fund.

     7.5  For purposes of this Article VII, a majority of the disinterested
directors shall determine whether or not any proposed action adequately
remedies  any irreconcilable material conflict, but in no event shall the Fund
be  required  to bear the expense of establishing a new funding medium for any
Contract.   The Company shall not be required by this Article VII to establish
a  new  funding medium for any Contract if an offer to do so has been declined
by  vote of a majority of the contract owners materially adversely affected by
the  irreconcilable material conflict.  In the event that the Board determines
that any proposed action does not adequately remedy any irreconcilable
material  conflict, then the Company will withdraw the Account's investment in
the  Fund  and  terminate this Agreement within six (6) months after the Board
informs the Company in writing of the foregoing determination, provided,
however,  that  such withdrawal and termination shall be limited to the extent
required by any such material irreconcilable conflict as determined by a
majority of the disinterested members of the Board.

     7.6.  If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended,
or Rule 6e-3 is adopted, to provide exemptive relief from any provision of the
Act or the rules promulgated thereunder with respect to mixed or shared
funding  (as defined in the Mixed and Shared Funding Exemptive Order) on terms
and conditions materially different from those contained in the Shared Funding
Exemptive Order, then (a) the Fund and/or the Participating Insurance
Companies, as appropriate, shall take such steps as may be necessary to comply
with Rules 6e-2 and 6e-3(T) as amended, and Rule 6e-3, as adopted, to the
extent  such  rules  are applicable; and (b) Sections 3.4, 3.5, 7.1, 7.2, 7.3,
7.4 and 7.5 of this Agreement shall continue in effect only to the extent that
terms and conditions substantially identical to such Sections are contained in
such Rule(s) as so amended or adopted.

ARTICLE VIII.  INDEMNIFICATION

     8.1.  INDEMNIFICATION BY THE COMPANY

     8.1(a).  The Company agrees to indemnify and hold harmless the Fund
and  each  of its directors and officers and each person, if any, who controls
the  Fund  within the meaning of Section 15 of the 1933 Act (collectively, the
"Indemnified  Parties"  for  purposes of this Section 8.1) against any and all
losses,  claims,  damages,  liabilities  (including amounts paid in settlement
with  the  written  consent of the Company) or litigation (including legal and
other expenses), to which the Indemnified Parties may become subject under any
statute, regulation, at common law or otherwise, insofar as such losses,
claims,  damages,  liabilities  or expenses (or actions in respect thereof) or
settlements are related to the sale or acquisition of the Fund's shares or the
Contracts and:

     (i)  arise out of or are based upon any untrue statements or
alleged  untrue  statements of any material fact contained in the Registration
Statement or prospectus for the Contract or contained in the Contracts or
sales  literature  for the Contracts (or any amendment or supplement to any of
the  foregoing), or arise out of or are based upon the omission or the alleged
omission  to  state  therein  a material fact required to be stated therein or
necessary  to  make  the statements therein not misleading, provided that this
agreement  to  indemnify  shall  not apply as to any Indemnified Party if such
statement or omission or such alleged statement or omission was made in
reliance  upon  and in conformity with information furnished to the Company by
or  on  behalf of the Fund for use in the Registration Statement or prospectus
for the Contracts or in the Contracts or sales literature (or any amendment or
supplement)  or otherwise for use in connection with the sale of the Contracts
or Fund shares; or

     (ii)  arise out of or as a result of statements or
representations  (other  than  statements  or representations contained in the
Registration Statement, prospectus or sales literature of the Fund not
supplied  by the Company, or persons under its control) or wrongful conduct of
the Company or persons under its control, with respect to the sale or
distribution of the Contracts or Fund Shares; or

     (iii)  arise out of any untrue statement or alleged untrue
statement of a material fact contained in a Registration Statement,
prospectus, or sales literature of the Fund or any amendment thereof or
supplement thereto or the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the
statements  therein not misleading if such a statement or omission was made in
reliance upon information furnished to the Fund by or on behalf of the
Company; or

     (iv)  arise as a result of any failure by the Company to
provide the services and furnish the materials under the terms of this
Agreement; or

     (v)  arise out of or result from any material breach of any
representation  and/or warranty made by the Company in this Agreement or arise
out of or result from any other material breach of this Agreement by the
Company.

     8.1(b).  The Company shall not be liable under this indemnification
provision with respect to any losses, claims, damages, liabilities or
litigation incurred or assessed against an Indemnified Party as such may arise
from such Indemnified Party's willful misfeasance, bad faith, or gross
negligence  in the performance of such Indemnified Party's duties or by reason
of  such Indemnified Party's reckless disregard of obligations or duties under
this Agreement or to the Fund, whichever is applicable.

     8.1(c).  The Company shall not be liable under this indemnification
provision  with  respect to any claim made against an Indemnified Party unless
such  Indemnified  Party  shall  have notified the Company in writing within a
reasonable time after the summons or other first legal process giving
information of the nature of the claim shall have been served upon such
Indemnified  Party (or after such Indemnified Party shall have received notice
of such service on any designated agent), but failure to notify the Company of
any  such  claim shall not relieve the Company from any liability which it may
have  to  the  Indemnified Party against whom such action is brought otherwise
than on account of this indemnification provision.  In case any such action is
brought against the Indemnified Parties, the Company shall be entitled to
participate,  at  its own expense, in the defense of such action.  The Company
also shall be entitled to assume the defense thereof, with counsel
satisfactory  to the party named in the action.  After notice from the Company
to  such  party  of  the Company's election to assume the defense thereof, the
Indemnified  Party  shall bear the fees and expenses of any additional counsel
retained  by  it,  and the Company will not be liable to such party under this
Agreement  for any legal or other expenses subsequently incurred by such party
independently  in  connection  with  the defense thereof other than reasonable
costs of investigation.

     8.1(d).  The indemnification provided by this Section 8.1 shall
survive the termination of this Agreement and shall be in addition to any
other liability the Company may have.

     8.2.  INDEMNIFICATION BY THE ADVISER

     8.2(a).  The Adviser agrees to indemnify and hold harmless the
Company  and  each  of its directors and officers and each person, if any, who
controls the Company within the meaning of Section 15 of the 1933 Act
(collectively,  the  "Indemnified  Parties"  for purposes of this Section 8.2)
against  any  and  all losses, claims, damages, liabilities (including amounts
paid in settlement with the written consent of the Adviser) or litigation
(including legal and other expenses) to which the Indemnified Parties may
become  subject under any statute, at common law or otherwise, insofar as such
losses, claims, damages, liabilities or expenses (or actions in respect
thereof) or settlements:

     (i)  arise out of or are based upon any untrue statement or
alleged  untrue  statement  of any material fact contained in the Registration
Statement  or  prospectus or sales literature of the Fund (or any amendment or
supplement  to  any  of  the foregoing), or arise out of or are based upon the
omission  or the alleged omission to state therein a material fact required to
be  stated therein or necessary to make the statements therein not misleading,
provided that this agreement to indemnify shall not apply as to any
Indemnified  Party  if such statement or omission or such alleged statement or
omission was made in reliance upon and in conformity with information
furnished to the Adviser or Fund by or on behalf of the Company for use in the
Registration  Statement  or prospectus for the Fund or in sales literature (or
any  amendment or supplement) or otherwise for use in connection with the sale
of the Contracts or Fund shares; or

     (ii)  arise out of or as a result of statements or
representations  (other  than  statements  or representations contained in the
Registration  Statement,  prospectus or sales literature for the Contracts not
supplied  by  the Adviser or persons under its control) or wrongful conduct of
the Fund or Adviser or persons under their control; or

     (iii) arise out of any untrue statement or alleged untrue
statement of a material fact contained in a Registration Statement, prospectus
or sales literature covering the Contracts, or any amendment thereof or
supplement  thereto,  or  the  omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statement
or  statements  therein not misleading, if such statement or omission was made
in  reliance  upon information furnished to the Company by or on behalf of the
Fund; or

     (iv)  arise as a result of (a) any failure by the Fund to
provide the services and furnish the material under the terms of this
Agreement;  or  (b) a failure to comply with Article VI of this Agreement with
respect to diversification requirements; or (c) failure to qualify as a
registered investment company under Subchapter M of the Code; or

     (v)  arise out of or result from any material breach of any
representation and/or warranty made by the Adviser or the Fund in this
Agreement  or  arise  out  of or result from any other material breach of this
Agreement by the Adviser or the Fund.

     8.2(b).  The Adviser shall not be liable under this indemnification
provision with respect to any losses, claims, damages, liabilities or
litigation  to which an Indemnified Party would otherwise be subject by reason
of such Indemnified Party's willful misfeasance, bad faith, or gross
negligence  in the performance of such Indemnified Party's duties or by reason
of such Indemnified Party's reckless disregard of obligations and duties under
this Agreement or to the Company or Account, whichever, is applicable.

     8.2(c).  The Adviser shall not be able under this indemnification
provision  with  respect to any claim made against an Indemnified Party unless
such  Indemnified  Party  shall  have notified the Adviser in writing within a
reasonable time after the summons or other first legal process giving
information of the nature of the claim shall have been served upon such
Indemnified  Party (or after such Indemnified Party shall have received notice
of such service on any designated agent), but failure to notify the Adviser of
any  such  claim shall not relieve the Adviser from any liability which it may
have  to  the  Indemnified Party against whom such action is brought otherwise
than on account of this indemnification provision.  In case any such action is
brought against the Indemnified Parties, the Adviser will be entitled to
participate,  at  its  own  expense, in the defense thereof.  The Adviser also
shall  be  entitled to assume the defense thereof with counsel satisfactory to
the party named in the action.  After notice from the Adviser to such party of
the  Adviser's  election  to assume the defense thereof, the Indemnified Party
shall bear the fees and expenses of any additional counsel retained by it, and
the Adviser will not be liable to such party under this Agreement for any
legal  or  other expenses subsequently incurred by such party independently in
connection with the defense thereof other than reasonable costs of
investigation.

     8.2(d).  The indemnification provided by this Section 8.2 shall
survive the termination of this Agreement and shall be in addition to any
other liability the Fund or Adviser may have.

ARTICLE IX.  APPLICABLE LAW

     9.1.  This Agreement shall be construed and the provisions hereof
interpreted under and in accordance with the laws of the State of New York.

     9.2.  This Agreement shall be subject to the provisions of the 1933, 1934
and 1940 acts, and the rules and regulations and rulings thereunder, including
such exemptions from those statutes, rules and regulations as the SEC may
grant  (including, but not limited to, the Shared Funding Exemptive Order) and
the terms hereof shall be interpreted and construed in accordance therewith.

ARTICLE X.  TERM AND TERMINATION

     10.1. The Agreement is effective as of the date hereof and will remain in
effect until terminated in accordance with the provisions herein.

     10.2.  This Agreement shall terminate:

     (a)  at the option of any party upon 180 days advance written
notice to the other parties unless otherwise agreed in a separate written
agreement among the parties; or

     (b)  at the option of the Company if shares of the Portfolios
delineated in Schedule 2 are not reasonably available to meet the requirements
of  the  Contracts  as determined by the Company; provided, however, that such
termination  shall  only  apply to the Portfolio(s) not reasonably available.
Prompt  notice  of the election to terminate for such cause shall be furnished
by the Company; or

     (c)  at the option of the Fund upon institution of formal
proceedings against the Company by the NASD, the SEC, the insurance commission
of any state or any other regulatory body regarding the Company's duties under
this  Agreement or related to the sale of the Contracts, the administration of
the Contracts, the operation of the Account, or the purchase of the Fund
shares, the expected or anticipated ruling, judgment or outcome of which
would, in the Fund's reasonable judgment, materially impair the Company's
ability to perform its obligation and duties hereunder; or

     (d)  at the option of the Company upon institution of formal
proceedings  against the Fund by the NASD, the SEC, or any state securities or
insurance department or any other regulatory body, the expected or anticipated
ruling, judgment or outcome of which would, in the Company's reasonable
judgment,  materially  impair the Fund's ability to perform its obligation and
duties hereunder; or

     (e)  at the option of the Company or the Fund upon receipt of any
necessary  regulatory  approvals and/or the vote of the contract owners having
an  interest  in  the  Account (or any subaccount) to substitute the shares of
another  investment company for the corresponding Portfolio shares of the Fund
in accordance with the terms of the Contracts for which those Portfolio shares
had  been  selected  to serve as the underlying investment media.  The Company
will give 30 days' prior written notice to the Fund of the date of any
proposed vote or other action taken to replace the Fund's shares; or

     (f)  at the option of the Company or the Fund upon a determination
by a majority of the Fund Board, or a majority of the disinterested Fund Board
members,  that  an irreconcilable material conflict exists among the interests
of (i) all contractowners of variable insurance products of all separate
accounts or (ii) the interests of the Participating Insurance Companies
investing in the Fund as delineated in Article VII of this Agreement; or

     (g)  at the option of the Company if the Fund ceases to qualify as
a  Regulated  Investment  Company under Subchapter M of the Code, or under any
successor or similar provision, or if the Company reasonably believes that the
Fund may fail to so qualify; or

     (h)  at the option of the Company if the Fund fails to meet the
diversification requirements specified in Article VI hereof; or

     (i)  at the option of any party to this Agreement, upon another
party's material breach of any provision of this Agreement; or

     (j)  at the option of the Company, if the Company determines in
its sole judgment exercised in good faith, that either the Fund or the Adviser
has suffered a material adverse change in its business, operations or
financial condition since the date of this Agreement or is the subject of
material adverse publicity and such material adverse change or material
adverse publicity is likely to have a material adverse impact upon the
business and operations of the Company; or

     (k)  at the option of the Fund or Adviser, if the Fund or Adviser
respectively,  shall  determine  in its sole judgment exercised in good faith,
that the Company has suffered a material adverse change in its business,
operations  or  financial condition since the date of this Agreement or is the
subject of material adverse publicity and such material adverse change or
material  adverse  publicity  is likely to have a material adverse impact upon
the business and operations of the Fund or Adviser; or

     (l)  at the option of the Fund in the event any of the Contracts
are not issued or sold in accordance with applicable federal and/or state law.
Termination shall be effective immediately upon such occurrence without
notice, or

     (m)  automatically upon its assignment by any party without the
other parties' prior written consent; or

     (n) in the event the Fund's shares are not registered, issued or
sold in accordance with applicable state or federal law, or such law precludes
the use of such shares for the underlying investment medium of variable
contracts issued or to be issued by the Company.  Termination shall be
effective immediately upon such occurrence without notice.

     10.3.  Notice Requirement

     (a)  In the event that any termination of this Agreement is based
upon the provisions of Article VII such prior written notice shall be given in
advance of the effective date of termination as required by such provisions.

     (b)  In the event that any termination of this Agreement is based
upon  the  provisions of Sections 10.2(b)- (d) or 10.2(g) - (i), prior written
notice of the election to terminate this Agreement for cause shall be
furnished by the party terminating the Agreement to the non-terminating
parties,  with said termination to be effective upon receipt of such notice by
the non-terminating parties.

     (c)  In the event that any termination of this Agreement is based
upon  the  provisions  of Sections 10.2(j) or 10.2(k), prior written notice of
the  election  to terminate this Agreement for cause shall be furnished by the
party  terminating  this Agreement to the non-terminating parties.  Such prior
written  notice  shall be given by the party terminating this Agreement to the
non-terminating parties at least 30 days before the effective date of
termination.

     10.4.  It is understood and agreed that the right to terminate this
Agreement  pursuant  to Section 10.2(a) may be exercised for any reason or for
no reason.

     10.5.  EFFECT OF TERMINATION

     (a)  Notwithstanding any termination of this Agreement pursuant to
Section  10.2  of this Agreement, the Fund may, at its option, or in the event
of termination of this Agreement by the Fund or the Adviser pursuant to
Section  10.2(a)  of  this Agreement, the Company may require the Fund and the
Adviser  to,  continue  to make available additional shares of the Fund for so
long  after  the  termination of this Agreement as the Fund or the Company, if
the  Company  is so requiring, desires pursuant to the terms and conditions of
this  Agreement as provided in paragraph (b) below for all Contracts in effect
on  the  effective date of termination of this Agreement (hereinafter referred
to as "Existing Contracts").  Specifically, without limitation, if the Fund so
elects to make available additional shares of the Fund or if the Company is so
requiring, the owners of the Existing Contracts shall be permitted to
reallocate investments in the Fund, redeem investments in the Fund and/or
invest  in  the Fund upon the making of additional purchase payments under the
Existing  Contracts.  The parties agree that this Section 10.5 shall not apply
to any terminations under Article VII and the effect of such Article VII
terminations shall be governed by Article VII of this Agreement.

     (b) In the event of a termination of this Agreement pursuant to
Section  10.2  of  this  Agreement, the Fund shall promptly notify the Company
whether the Fund will continue to make available shares of the Fund after such
termination,  except  that,  with  respect to a termination by the Fund or the
Adviser pursuant to Section 10.2(a) of this Agreement, the Company shall
promptly notify the Fund whether it wishes the Fund to continue to make
available additional shares of the Fund.  If shares of the Fund continue to be
made  available after such termination, the provisions of this Agreement shall
remain  in  effect  except  for Section 10.2(a) and thereafter the Fund or the
Company  may terminate the Agreement, as so continued pursuant to this Section
10.5  upon  written  notice to the other party, such notice to be for a period
that is reasonable under the circumstances.

     (c)  In determining whether to make available additional Fund
shares, the Fund shall act in good faith, giving due consideration to the
interest of the existing shareholders, including holders of the existing
Contracts.

     [10.6.  Except (a) as necessary to implement contractowner initiated or
approved transactions, or (b) as required by state insurance laws or
regulations  (a  "Legally  Required Redemption"), the Company shall not redeem
Fund shares attributable to the Contracts (as opposed to Fund shares
attributable  to  the  Company's  assets held in the Account), and the Company
shall  not prevent contractowners from allocating payments to a Portfolio that
was  otherwise  available under the Contracts, until 90 days after the Company
shall have notified the Fund or Adviser of its intention to do so.  Upon
request, the Company will promptly furnish to the Fund and Adviser the opinion
of  counsel for the Company (which counsel shall be reasonably satisfactory to
the Fund and the Adviser) to the effect that a particular redemption is a
Legally Required Redemption.]

ARTICLE XI.  NOTICES

     Any notice shall be sufficiently given when sent by registered or
certified mail to the other party at the address of such party set forth below
or at such other address as such party may from time to time specify in
writing to the other party.

          If to the Fund:
                Smith Barney/Travelers Series Fund Inc.
                388 Greenwich Street, 22nd Floor
                New York, NY 10013
                Attn:  Christina T. Sydor, Secretary

          If to the Company:
               ReliaStar Life Insurance
                    Company of New York
               1475 Dunwoody Drive
               West Chester, PA  19380
               Attn: Linda E. Senker, Counsel

          If to the Adviser:
               Smith Barney Mutual Funds Management Inc.
               388 Greenwich Street, 22nd Floor
               New York, NY 10013
               Attn:  Christina T. Sydor, General Counsel

ARTICLE XII.  MISCELLANEOUS

     12.1.  All persons dealing with the Fund must look solely to the property
of  the Fund for the enforcement of any claims against the Fund as neither the
Board, officers, agents or shareholders assume any personal liability for
obligations entered into on behalf of the Fund.

     12.2.  Subject to the requirement of legal process and regulatory
authority, each party hereto shall treat as if confidential the names and
addresses of the owners of the Contracts and all information reasonably
identified as confidential in writing by any other party hereto and, except as
permitted  by  this  Agreement  shall not disclose disseminate or utilize such
names  and  addresses and other confidential information until such time as it
may  come  into  the  public domain without the express written consent of the
affected party.

     12.3.  The captions in this Agreement are included for convenience of
reference  only  and in no way define or delineate any of the provision hereof
or otherwise affect their construction or effect.

     12.4.  This Agreement maybe executed simultaneously in two or more
counterparts,  each  of which taken together shall constitute one and the same
instrument.

     12.5.  If any provision of this Agreement shall be held or made invalid
by a court decision, statute, rule or otherwise, the remainder of the
Agreement shall not be affected thereby.

     12.6.  Each party hereto shall cooperate with each other party and all
appropriate  governmental  authorities  (including without limitation the SEC,
the  NASD  and  state  insurance regulators) and shall permit such authorities
reasonable access to its books and records in connection with any
investigation or inquiry relating to this Agreement or the transactions
contemplated hereby.

     12.7.  The rights, remedies and obligations contained in this Agreement
are cumulative and are in addition to any and all rights, remedies  and
obligations,  at law or in equity, which the parties hereto are entitled
to under stat and federal laws.

     IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement
to be executed in its name and on its behalf by its duly authorized
representative and its seal to be hereunder affixed hereto as of the date
specified below.

                                    RELIASTAR LIFE INSURANCE
                                            COMPANY OF NEW YORK
                                    By its authorized officer

                                    By:_____________________________________

                                    Title:__________________________________

                                    Date:___________________________________

                                    SMITH BARNEY/TRAVELERS SERIES FUND INC.
                                    By its authorized officer

                                    By:_____________________________________

                                    Title:__________________________________

                                    Date:___________________________________

                                    SMITH BARNEY MUTUAL FUNDS MANAGEMENT INC.
                                     By its authorized officer

                                    By:_____________________________________

                                    Title:__________________________________

                                    Date:___________________________________

                                  EXHIBIT B

Smith Barney Income and Growth Portfolio
Smith Barney International Equity Portfolio
Smith Barney High Income Portfolio
Smith Barney Money Market Portfolio

     7.1.  The Board will monitor the Fund for the existence of any material
irreconcilable conflict among the interests of the contract owners of all
separate  accounts investing in the Fund.  An irreconcilable material conflict
may arise for a variety of reasons, including: (a) an action by any state
insurance  regulatory  authority;  (b) a change in applicable federal or state
insurance,  tax or securities laws or regulations, or a public ruling, private
letter ruling, no-action or interpretive letter, or any similar action by
insurance, tax, or securities regulatory authorities; (c) an administrative or
judicial decision in any relevant proceeding; (d) the manner in which the
investments  of  any  Portfolio  are being managed; (e) a difference in voting
instructions given by variable annuity contract owners and variable life
insurance  contract  owners;  or (f) a decision by an insurer to disregard the
voting  instructions  of contract owners.  The Board shall promptly inform the
Company  if  it determines that an irreconcilable material conflict exists and
the implications thereof.

     7.2.  The Company will report any potential or existing conflicts of
which it is aware to the Board.  The Company will assist the Board in carrying
out  its  responsibilities under the Mixed and Shared Funding Exemptive Order,
by  providing the Board upon request with all information reasonably necessary
for the Board to consider any issues raised.  This includes, but is not
limited to, an obligation by the Company to inform the Board whenever contract
owner voting instructions are disregarded.

     7.4.  If a material irreconcilable conflict arises because of a decision
by the Company to disregard contract owner voting instructions and that
decision represents a minority position or would preclude a majority vote, the
Company may be required, at the Fund's election, to withdraw the affected
Account's  investment in the Fund and terminate this Agreement with respect to
such  Account; provided, however that such withdrawal and termination shall be
limited to the extent required by the foregoing material irreconcilable
conflict as determined by a majority of the disinterested members of the
Board.    Any  such  withdrawal and termination must take place within six (6)
months after the Fund gives written notice that this provision is being
implemented,  and  until the end of that six month period the Adviser and Fund
shall  continue to accept and implement orders by the Company for the purchase
(and redemption) of shares of the Fund.

     7.5.  If a material irreconcilable conflict arises because a particular
state  insurance regulator's decision applicable to the Company conflicts with
the  majority  of  other  state regulators, then the Company will withdraw the
affected  Account's  investment  in the Fund and terminate this Agreement with
respect  to such Account within six months after the Board informs the Company
in writing that it has determined that such decision has created an
irreconcilable  material conflict; provided, however, that such withdrawal and
termination  shall be limited to the extent required by the foregoing material
irreconcilable conflict as determined by a majority of the disinterested
members  of  the  Board.  Until the end of the foregoing six month period, the
Adviser  and Fund shall continue to accept and implement orders by the Company
for the purchase (and redemption) of shares of the Fund.

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