EXHIBIT (1)(8)(m) PUTNAM PARTICIPATION AGREEMENT AMENDMENT

   1

                                                               EXHIBIT (1)(8)(m)



                    XXXXXX PARTICIPATION AGREEMENT AMENDMENT

                                AMENDMENT NO. 3

     Amendment to the Participation Agreement among ReliaStar Life Insurance
Company of New York (formerly ReliaStar Bankers Security Life Insurance Company)
(the "Company"), Xxxxxx Variable Trust (the "Trust") and Xxxxxx Mutual Funds
Corp. (the "Underwriter") dated January 8, 1997 (the "Agreement").

     Schedule A is hereby revised to read as follows:

                                   SCHEDULE A

                                   CONTRACTS

                               FEBRUARY __, 2001

     1.   ReliaStar Life Insurance Company of New York Variable Life Separate
          Account I

          (a)  Flexible Premium Variable Life Insurance Policy Contract Form
               Number 85-251

          (b)  Survivorship Flexible Premium Variable Life Insurance Policy
               Contract Form Number 85-438

          (c)  Flexible Premium Variable Life Insurance Policy Contract Form
               Number 86-025

     2.   ReliaStar Life Insurance Company of New York Variable Life Insurance
          Separate Account II

          (a)  Flexible Premium Variable Annuity Insurance Policy Contract Form
               Number 85-499


     IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed in its name and on its behalf by its duly authorized representative as
of March 30, 2001.


                                    RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK


                                    By: /s/ Xxxx Xxxxxxx
                                       -----------------------------------------
                                        Name:  Xxxx Xxxxxxx
                                        Title: Vice President


                                    XXXXXX VARIABLE TRUST

                                    By: /s/ Xxxx Xxxxxx
                                       -----------------------------------------
                                        Name:  Xxxx Xxxxxx
                                        Title: Vice President


                                    XXXXXX RETAIL MANAGEMENT INC.

                                    By: /s/ Xxxx Xxxx
                                       -----------------------------------------
                                        Name:  Xxxx Xxxx
                                        Title: Senior Vice President