0000898432-98-000381 Sample Contracts

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MORGAN STANLEY ASSET MANAGEMENT INC. 1221 AVENUE OF THE AMERICAS NEW YORK, NEW YORK 10020 (212) 703-4000 May 1, 1997 Mark F. Muething, Esq. Senior Vice President Annuity Investors Life Insurance Company 250 East Fifth Street Cincinnati, OH 45202...
Participation Agreement • April 29th, 1998 • Annuity Investors Variable Account A

We are please to have entered into an agreement with Annuity Investors Life Insurance Company (the "Company") dated May 1, 1997 providing for the purchase by the Company of shares of Morgan Stanley Universal Funds, Inc. (the "Fund") for its separate accounts to fund variable annuity contract and variable life policy benefits ("Participation Agreement").

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