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Rydex Variable Trust/SGI

At Rydex/SGI we are committed to offering investors greater potential to successfully navigate diverse market conditions. We believe that providing high-quality investment choices, insightful research and investor education is always in favor. Offering a wide array of alternative investment strategies in addition to index-based and fundamental strategies - including actively managed global, value, growth and fixed-income - we endeavor to put our investors first in all that we do.

Investment Option Firm/Funds Rydex	Asset Category	Risk/Reward Potential	Objective/Primary Investments
Government Long Bond 1.2x Strategy	Long Government Bond	1 2 3 4 5	Seeks to provide investment results that correspond to a benchmark for U.S. Government securities by investing in such securities and leveraged instruments. The Fund’s current benchmark is 120% of the price movement of the long Treasury Bond.¹
Inverse Government Long Bond Strategy	Bear Market	1 2 3 4 5	Seeks to provide total returns that will inversely correlate to the price movements of the Long Treasury bond by investing in short sales of securities or future contracts and options collateralized by U.S. Government securities or cash equivalents.²
Inverse NASDAQ-100® Strategy	Bear Market	1 2 3 4 5	Seeks to provide investment results that will match inversely the performance of the NASDAQ 100 Index by investing in short sales of securities or future contracts and options collateralized by U.S. Government securities or cash equivalents.^2,3
Inverse S&P 500 Strategy	Bear Market	1 2 3 4 5	Seeks to provide investment results that inversely correlate to the performance of the S&P 500 Index.^2,3
NASDAQ-100®	Large Cap Growth	1 2 3 4 5	Seeks to provide investment results that correspond to the performance of the NASDAQ 100 Index by investing in securities of companies included in the NASDAQ 100 Index.^3,4
Nova	Large Cap Blend	1 2 3 4 5	Seeks to provide investment results that match the performance of a specific benchmark. The Fund’s current benchmark is 150% of the performance of the S&P 500 Index. The Fund invests in leveraged instruments collateralized by U.S. Government securities or cash equivalents.^1,3
Precious Metals	Precious Metals	1 2 3 4 5	Seeks to provide capital appreciation by investing in U.S. and foreign companies that are involved in the precious metals sector.⁴
Russell 2000 1.5x Strategy	Small-Cap Blend	1 2 3 4 5	Seeks to provide 150% exposure to the daily movement of the Russell 2000 Index® by investing in the securities of companies included on the Russell 2000 Index® and in leveraged instruments.^1,3,5
U.S. Long Short Momentum Fund (prior to May 25, 2010, the All-Cap Opportunity Fund)	Large Cap Growth	1 2 3 4 5	Seeks long term capital appreciation by investing in equity securities representing entire industries or sectors.⁴

Information on the risk ranking of investment options is provided by the UNIFI Investment Products Group (an affiliate of Ameritas Life Insurance Corp.), and is provided as impersonal information, and not as investment advice. The Investment Products Group is not advising you personally concerning the nature, potential, value or suitability of any particular investment option. The provision of a risk ranking does not constitute a recommendation that any particular investment option is suitable for any specific person. Risk rankings are prepared from sources believed to be reliable, but the sources are not guaranteed and may not be accurate. Please consult with your own advisers concerning the advisability of selecting particular investment options within your policy. Risk rankings range from “1” (lower risk and lower reward potential) to “5” (higher risk and higher reward potential).

¹This fund invests to a significant extent in leveraged derivative instruments such as futures contracts; options on securities, future contracts and stock indices; and swap agreements. The fund is subject to a number of risks that may affect the value of its shares, including: active trading risk, counter party credit risk, derivatives risk, depository receipt risk, early closing risk, large-capitalization securities risk, leveraging risk, market risk, non-diversification risk, tracking error risk, and trading halt risk.

² This fund engages in short sales of securities included in the underlying index and may invest to a significant extent in derivatives and other instruments whose performance is expected to be opposite of the underlying index, such as futures contracts; options on securities, future contracts and stock indices; and swap agreements. The fund is subject to a number of risks that may affect the value of its shares, and which may include: active trading risk, counter party credit risk, depository receipt risk, derivatives risk, early closing risk, industry concentration risk, large capitalization securities risk, market risk, non-diversification risk, short sales risk, technology sector risk, tracking error risk, and trading halt risk.

³ Indexes are unmanaged.

⁴ A portfolio that concentrates its investments in one economic sector or geographic region faces the risk of higher share-price volatility.

⁵ Small capitalization stocks have historically exhibited more volatility than larger-capitalization stocks.

Ameritas No-Load Variable Annuity (Form 6150) is issued by Ameritas Life Insurance Corp. and underwritten by affiliate Ameritas Investment Corp. Product not available in NY.

Variable annuities are suitable for long-term investing, particularly for retirement, and are subject to investment risk, including possible loss of principal. Before investing, carefully consider the investment objectives, risks, charges, expenses and other important information about the policy issuer and underlying investment options. This information can be found in the policy prospectus and investment option prospectuses available on this website or by calling 800-555-0955. Read the prospectuses carefully before investing.

ADVAW 003 Rev. 5-08