Common use of CONFORMITY WITH REGISTRATION STATEMENT AND APPROVED SALES MATERIALS Clause in Contracts

CONFORMITY WITH REGISTRATION STATEMENT AND APPROVED SALES MATERIALS. In ------------------------------------------------------------------- performing its duties as Distributor, Distributor will act in conformity with the Prospectus and with the instructions and directions of PL&A, the requirements of the 1933 Act, the 1940 Act, the Securities Exchange Act, and all other applicable federal and state laws and regulations. Distributor shall not give any information nor make any representations, concerning any aspect of the Contract or of PL&A's operations to any persons or entity unless such information or representations are contained in the Registration Statement and the pertinent prospectus filed with the Securities and Exchange Commission, or are contained in sales or promotional literature approved by PL&A. Distributor will not use and will take reasonable steps to ensure Broker will not use any sales promotion material and advertising that has not been previously approved by PL&A. -------------------------------------------------------------------------------- Page 2 of 8 04/28/00

CONFORMITY WITH REGISTRATION STATEMENT AND APPROVED SALES MATERIALS. In ------------------------------------------------------------------- performing its duties as Distributor, Distributor PMD will act in conformity with the Prospectus and with the instructions and directions of PL&A, the requirements of the 1933 Act, the 1940 Act, the Securities Exchange Act, and all other applicable federal and state laws and regulations. Distributor PMD shall not give any information nor make any representations, concerning any aspect of the Contract or of PL&A's operations to any persons or entity unless such information or representations are contained in the Registration Statement and the pertinent prospectus filed with the Securities and Exchange Commission, or are contained in sales or promotional literature approved by PL&A. Distributor PMD will not use and will take reasonable steps to ensure Broker will not use any sales promotion material and advertising that which has not been previously approved by PL&A. -------------------------------------------------------------------------------- Page 2 of 8 04/28/00PL&A.