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THE FIRST TRUST(REGISTERED TRADEMARK) SPECIAL SITUATIONS TRUST, SERIES 157 DORSEY, WRIGHT SECTOR TRUSTS, PRECIOUS METALS SERIES 1 Supplement to the Prospectus dated November 14, 1996 Notwithstanding anything to the contrary in the Prospectus, the total maximum sales charge which may be assessed to Unit holders on a per Unit basis is 4.9% of the Public Offering Price (equivalent to a maximum of 5.152% of the net amount invested, exclusive of the deferred sales charge). January 3, 1997
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