THE FIRST TRUST SPECIAL SITUATIONS TRUST, SERIES 162
10 UNCOMMON VALUES TRUST, 1996 PORTFOLIO
Supplement to the Prospectus dated September 9, 1996
Notwithstanding anything to the contrary in the Prospectus, investors
who purchase Units between December 19, 1996 and December 31, 1996 will
do so subject only to the amount of the remaining deferred sales charge,
deferred as set forth in the Prospectus. The applicable dealer
concession or agency commission for Units sold during this period will
be $0.14 per Unit.
December 19, 1996
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