NATIONAL EQUITY TRUST LOW FIVE PORTFOLIO SERIES 4
24F-2NT, 1997-01-31
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              Securities and Exchange Commission
                    Washington, D.C.  20549
                          FORM 24F-2
               Annual Notice of Securities Sold
                    Pursuant to Rule 24f-2


1.   Name and address of issuer:


          Prudential Securities Incorporated
          One Seaport Plaza
          New York, NY  10292


2.   Name of each series or class of funds for which this
     notice is filed:


          National Equity Trust Low Five Portfolio Series 4


3.   Investment Company Act File Number:


          811-5694


     Securities Act File Number:


          33-64381


4.   Last day of fiscal year for which this notice is filed:


          January 2, 1997


5.   Check box if this notice is being filed more than 180 days
     after the close of the issuer's fiscal year for purposes
     of reporting securities sold after the close of the fiscal
     year but before termination of the issuer's 24f-2
     declaration:
                                                         [    ]





     
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                                    -2-



6.    Date of termination of issuer's declaration under rule
      24f-2(a)(1), if applicable:


          January 31, 1997


7.    Number and amount of securities of the same class or
      series which had been registered under the Securities Act
      of 1933 other than pursuant to rule 24f-2 in a prior fis-
      cal year, but which remained unsold at the beginning of
      the fiscal year:

            None


8.    Number and amount of securities registered during the fis-
      cal year other than pursuant to rule 24f-2:


            None


9.    Number and aggregate sale price of securities sold during
      the fiscal year:

     
          The number of securities sold during the fiscal year was 115,153,545.
          The aggregate sale price for which securities were sold was 
          $114,955,456.00.


10.   Number and aggregate sale price of securities sold during
      the fiscal year in reliance upon registration pursuant to
      rule 24f-2:


          The number of securities sold during the fiscal year in reliance
          upon registration pursuant to Rule 24f-2 was 115,153,545.  The
          aggregate sale price of securities sold during the fiscal year
          in reliance upon registration pursuant to Rule 24f-2 was
          $114,955,456.00.


11.   Number and aggregate sale price of securities issued dur-
      ing the fiscal year in connection with dividend reinvest-
      ment plans, if applicable:


          N/A


12.   Calculation of registration fee:

      
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                                    -3-



          (i)  Aggregate sale price of securi-
               ties sold during the fiscal year
               in reliance on rule 24f-2 (from
               Item 10):                                   $114,955,456.00

         (ii)  Aggregate price of shares issued
               in connection with dividend
               reinvestment plans (from Item
               11, if applicable):                         +      0  

        (iii)  Aggregate price of shares
               redeemed or repurchased during
               the fiscal year (if applicable):            - 19,634,674.00

         (iv)  Aggregate price of shares
               redeemed or repurchased and pre-
               viously applied as a reduction
               to filing fees pursuant to rule
               24e-2 (if applicable):                      +      0  

          (v)  Net aggregate price of securi-
               ties sold and issued during the
               fiscal year in reliance on rule
               24f-2 [line (i), plus line (ii),
               less line (iii), plus line (iv)]
               (if applicable):                            $95,320,780.00       
 

         (vi)  Multiplier prescribed by Section
               6(b) of the Securities Act of
               1933 or other applicable law or
               regulation:                                 x   1/3300

        (vii)  Fee due [line (i) or line (v)
               multiplied by line (vi)]:                   $28,885.09


Instruction:   Issuers should complete lines (ii), (iii), (iv),
               and (v) only if the form is being filed within 60
               days after the close of the issuer's fiscal year.


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                                    -4-



13.   Check box if fees are being remitted to the Commission's
      lockbox depository as described in section 3a of the Com-
      mission's Rules of Informal and Other Procedures (17 CFR
      202.3a).

                                                             [ x ]

      Date of mailing or wire transfer of filing fees to the
      Commission's lockbox depository:    

          January 31, 1997<PAGE>
                                    -5-



                                SIGNATURES


This report has been signed below by the following person on
behalf of the issuer and in the capacity and on the date
indicated.


                                          By:   Richard R. Hoffmann
                                                Richard R. Hoffmann
                                                First Vice President



Date:  January 31, 1997 

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                  (Letterhead of Cahill Gordon & Reindel)



                             January 31, 1997 






                                                             (212) 701-3000




Prudential Securities Incorporated
One Seaport Plaza
New York, New York 10292

            Re:  NATIONAL EQUITY TRUST LOW FIVE PORTFOLIO SERIES 4


Gentlemen:

          We have acted as special counsel for you, as Sponsor of the
above referenced trust, (a Unit Investment Trust, herein called the
"Trust"), in connection with the issuance under a Trust Indenture and
Agreement and related Reference Trust Agreement (collectively, the
"Indenture"), among you and The Chase Manhattan Bank, as Trustee, 
of units of fractional undivided interest in the Trust (in the 
aggregate, the "Units").

            During the fiscal year ended January 2, 1997, certain Units
were sold by you upon their initial issuance and/or in connection with
your maintenance of a secondary market for Units.  The Chase Manhattan Bank, 
as Trustee, has confirmed that certificates evidencing the Units have been
executed and delivered by the depositor and the Trustee or the ownership of
Units has been recorded on the books of the Trustee, in either case in
accordance with the Indenture.

            We have examined copies of such documents delivered by The Chase
Manhattan Bank, the Indenture, the form of certificate evidencing the Units,
the Rule 24f-2 Notice being filed 
     
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                                       -2-


today with the Securities and Exchange Commission and such other documents as
we have deemed necessary or advisable for purposes of this opinion.  We have
assumed that the copies of the documents we have reviewed and the signatures
thereon are genuine.

            Based upon the foregoing, and in reliance upon such
documents delivered by The Chase Manhattan Bank, we are of the opinion 
that the Units, registration of which such Rule 24f-2 Notice makes definite 
in number, were legally issued, fully paid and nonassessable.

                                          Very truly yours,


                                          CAHILL GORDON & REINDEL



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