<PAGE> 1
FILED PURSUANT TO RULE 424(b)(3)
REGISTRATION NO. 333-37737
PROSPECTUS SUPPLEMENT
DATED APRIL 2, 1998
TO THE PROSPECTUS DATED NOVEMBER 14, 1997
ALTERNATIVE LIVING SERVICES, INC.
Alternative Living Services, Inc. (the "Company") has prepared this
Prospectus Supplement to update certain information included in the Company's
Prospectus dated November 14, 1997 relating to the Company's $50,000,000
aggregate principal amount of Convertible Subordinated Debentures due 2004 (the
"Debentures"), issued in a private placement on May 21, 1997 and the 2,469,136
shares of common stock, $.01 par value, of the Company that are issuable upon
conversion of the Debentures, subject to adjustment under certain circumstances.
The table set forth in the Prospectus under the caption "SELLING
SECURITYHOLDERS" is hereby supplemented as follows:
<TABLE>
<CAPTION>
PRINCIPAL PRINCIPAL
AMOUNT AMOUNT
OF OF
DEBENTURES DEBENTURES PERCENT OF
BENEFICIALLY THAT MAY BE OUTSTANDING
NAME OWNED SOLD DEBENTURES
- ---- ------------ ----------- -----------
<S> <C> <C> <C>
BNP Arbitrage SNC ............................... $ 1,500,000 $ 1,500,000 3.0%
Lewco Securities Corp.(1) ....................... 1,887,000 1,887,000 3.8
</TABLE>
- --------
(1) Schroder & Co., Inc., an affiliate of Lewco Securities Corp., acted as
underwriter and financial advisor in connection with the December 1997
offer and sale of certain of the Company's securities.
