AMENDMENT 4 TO PARTICIPATION AGREEMENT

                                 AMENDMENT 4 TO
                             PARTICIPATION AGREEMENT

                                      Among

                          ▇▇▇▇▇▇ CAPITAL MANAGER TRUST
                      (now known as ▇▇▇▇▇▇ Variable Trust)

                            ▇▇▇▇▇▇ MUTUAL FUNDS CORP.

                                       and

                   AMERICAN ENTERPRISE LIFE INSURANCE COMPANY



THIS AMENDMENT 4 TO PARTICIPATION AGREEMENT ("Amendment 4") is made and entered
into this 15th day of June, 1999 by and among ▇▇▇▇▇▇ Variable Trust (formerly
▇▇▇▇▇▇ Capital Manager Trust) (the "Fund"); ▇▇▇▇▇▇ Mutual Funds Corp. (the
"Distributor"); and American Enterprise Life Insurance Company (the "Company").

WHEREAS, the Company, the Fund and the Distributor are parties to the
Participation Agreement dated January 16, 1995, as amended April 30, 1997,
October 30, 1997 and August 21, 1998 (the "Agreement"); and

WHEREAS, the parties now desire to amend the Agreement to add Authorized Funds
and to allow new flexible premium variable annuity contracts to invest in the
Authorized Funds;

NOW, THEREFORE, in consideration of their mutual promises, the Company, the Fund
and the Distributor agree as follows:



1.  Amendmentto Schedule A. In accordance with the terms of the Agreement, the
         parties hereby amend Schedule A to read as follows:
                                   Schedule A

                                    Contracts

American Enterprise Variable Annuity Account, established July 15, 1987.

         AEL Personal PortfolioSM and AEL Personal Portfolio Plus offer the
         following Authorized Funds as investment options:

                  ▇▇▇▇▇▇ VT Diversified Income Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT Growth and Income Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT New Opportunities Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT High Yield Fund - Class IA Shares

         AEL Personal Portfolio Plus2 offers the following Authorized Funds as
         investment options:

                  ▇▇▇▇▇▇ VT Diversified Income Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT Growth and Income Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT High Yield Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT Voyager Fund - Class IB Shares

         AEL PreferredSM, distributed through TCF, offers the following
         Authorized Funds as investment options:

                  ▇▇▇▇▇▇ VT Diversified Income Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT Growth and Income Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT New Opportunities Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT Voyager Fund - Class IA Shares
                  ▇▇▇▇▇▇ VT Global Growth Fund - Class IA Shares

         American Express Platinum Variable AnnuitySM offers the following
         Authorized Funds as investment options:

                  ▇▇▇▇▇▇ VT Growth & Income Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT International Growth & Income Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT Vista Fund - Class IB Shares

         American Express Signature Variable AnnuitySM offers the following
         Authorized Funds as investment options:

                  ▇▇▇▇▇▇ VT Growth and Income Fund - Class IB Shares
                  ▇▇▇▇▇▇ VT International New Opportunities Fund - Class IB
                  Shares
                  ▇▇▇▇▇▇ VT International Growth Fund - Class IB Shares

2.       Definitions. Terms not defined in this Amendment 4 will have the
         meaning as those terms defined in the Agreement.

3.       Counterparts. This Amendment 4 may be executed simultaneously in two or
         more counterparts, each of which taken together will constitute one and
         the same instrument.



IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment 4 to be
executed in its name and on its behalf by its duly authorized representatives as
of the date specified above.


▇▇▇▇▇▇ VARIABLE TRUST                                  ▇▇▇▇▇▇ MUTUAL FUNDS CORP.

By:                                                    By:

Name:                                                  Name:

Title:                                                 Title:



AMERICAN ENTERPRISE LIFE
INSURANCE COMPANY                                      ATTEST:

By:                                                    By:

Name:                                                  Name:

Title:                                                 Title: