THREE YEAR RETURNS: Small Cap Index Growth II Balanced Growth I Asst. Equity Soc. Interntl Mgr. Income Resp. ----------------------------------------------- ------------------------------------------------------------------------------- -----Financial Report • April 30th, 1997 • Lincoln National Variable Annuity Acct L GRP Var Annuity Iii
Calculation of Previous Quarter's Return Final Value Quarter One = 1,000 * (31-Dec-96 Unit Value/30-Sep-96 Unit Value) - Annual Fee - Surrendrer Charge Annual Return = Final Value Quarter One/1,000 - 1
