EQUITY INVESTOR FUND SEL LG CAP GROW PORT 2 DEF ASS FD, 487, 1999-07-20

EQUITY INVESTOR FUND SEL LG CAP GROW PORT 2 DEF ASS FD
487, 1999-07-20

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AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 20, 1999

REGISTRATION NO. 333-80631
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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

------------------------------------------

AMENDMENT NO. 1
TO
FORM S-6

------------------------------------------

FOR REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OF SECURITIES OF UNIT INVESTMENT
TRUSTS REGISTERED ON FORM N-8B-2

------------------------------------------

A. EXACT NAME OF TRUST:

EQUITY INVESTOR FUND
SELECT LARGE-CAP GROWTH PORTFOLIO 2
(FORMERLY CONCEPT SERIES 37)
DEFINED ASSET FUNDS

B. NAMES OF DEPOSITORS:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEAN WITTER REYNOLDS INC.
PAINEWEBBER INCORPORATED

C. COMPLETE ADDRESSES OF DEPOSITORS' PRINCIPAL EXECUTIVE OFFICES:

MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED
DEFINED ASSET FUNDS
P.O. BOX 9051
PRINCETON, NJ 08543-9051

PAINEWEBBER INCORPORATED
1285 AVENUE OF THE
AMERICAS
NEW YORK, NY 10019 DEAN WITTER REYNOLDS INC.
TWO WORLD TRADE
CENTER--59TH FLOOR
NEW YORK, NY 10048

D. NAMES AND COMPLETE ADDRESSES OF AGENTS FOR SERVICE:

TERESA KONCICK, ESQ.
P.O. BOX 9051
PRINCETON, NJ 08543-9051

COPIES TO:
ROBERT E. HOLLEY PIERRE DE SAINT PHALLE, DOUGLAS LOWE, ESQ.
1285 AVENUE OF THE ESQ. DEAN WITTER REYNOLDS INC.
AMERICAS 450 LEXINGTON AVENUE TWO WORLD TRADE
NEW YORK, NY 10019 NEW YORK, NY 10017 CENTER--59TH FLOOR
NEW YORK, NY 10048

E. TITLE OF SECURITIES BEING REGISTERED:

An indefinite number of Units of Beneficial Interest pursuant to Rule 24f-2
promulgated under the Investment Company Act of 1940, as amended.

F. APPROXIMATE DATE OF PROPOSED SALE TO PUBLIC.

As soon as practicable after the effective date of the registration statement.

/ x / Check box if it is proposed that this Registration Statement shall become
effective upon filing on July 20, 1999, pursuant to Rule 487.

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DEFINED ASSET FUNDSSM
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EQUITY INVESTOR FUND
SELECT LARGE-CAP GROWTH PORTFOLIO 2
(A UNIT INVESTMENT TRUST)
O CAPITAL APPRECIATION
O DIVERSIFIED PORTFOLIO
O CONVENIENT WAY TO PARTICIPATE IN LARGE-CAP
GROWTH STOCKS

-------------------------------------------------
SPONSORS: The Securities and Exchange Commission has not
Merrill Lynch, approved or disapproved these Securities or
Pierce, Fenner & Smith passed upon the adequacy of this prospectus. Any
Incorporated representation to the contrary is a criminal
PaineWebber Incorporated offense.
Dean Witter Reynolds Inc. Prospectus dated July 20, 1999.

<PAGE>
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Defined Asset FundsSM
DEFINED ASSET FUNDSSM IS AMERICA'S OLDEST AND LARGEST FAMILY OF UNIT INVESTMENT
TRUSTS, WITH OVER $160 BILLION SPONSORED OVER THE LAST 28 YEARS. DEFINED ASSET
FUNDS HAS BEEN A LEADER IN UNIT INVESTMENT TRUST RESEARCH AND PRODUCT
INNOVATION. OUR FAMILY OF FUNDS HELPS INVESTORS WORK TOWARD THEIR FINANCIAL
GOALS WITH A FULL RANGE OF QUALITY INVESTMENTS, INCLUDING MUNICIPAL, CORPORATE
AND GOVERNMENT BOND PORTFOLIOS, AS WELL AS DOMESTIC AND INTERNATIONAL EQUITY
PORTFOLIOS.

DEFINED ASSET FUNDS OFFER A NUMBER OF ADVANTAGES:

O A DISCIPLINED STRATEGY OF BUYING AND HOLDING WITH A LONG-TERM VIEW IS THE
CORNERSTONE OF DEFINED ASSET FUNDS.

O FIXED PORTFOLIO: DEFINED FUNDS FOLLOW A BUY AND HOLD INVESTMENT STRATEGY;
FUNDS ARE NOT MANAGED AND PORTFOLIO CHANGES ARE LIMITED.
O DEFINED PORTFOLIOS: WE CHOOSE THE STOCKS AND BONDS IN ADVANCE, SO YOU KNOW
WHAT YOU'RE INVESTING IN.
O PROFESSIONAL RESEARCH: OUR DEDICATED RESEARCH TEAM SEEKS OUT STOCKS OR
BONDS APPROPRIATE FOR A PARTICULAR FUND'S OBJECTIVES.
O ONGOING SUPERVISION: WE MONITOR EACH PORTFOLIO ON AN ONGOING BASIS.
NO MATTER WHAT YOUR INVESTMENT GOALS, RISK TOLERANCE OR TIME HORIZON, THERE'S
PROBABLY A DEFINED ASSET FUND THAT SUITS YOUR INVESTMENT STYLE. YOUR FINANCIAL
PROFESSIONAL CAN HELP YOU SELECT A DEFINED ASSET FUND THAT WORKS BEST FOR YOUR
INVESTMENT PORTFOLIO.

CONTENTS
PAGE
-----------
RISK/RETURN SUMMARY..................................... 3
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT................ 6
INCOME............................................... 6
RECORDS AND REPORTS.................................. 6
THE RISKS YOU FACE...................................... 6
LITIGATION AND LEGISLATION RISKS..................... 6
INDEX PAST PERFORMANCE............................... 6
SELLING OR EXCHANGING UNITS............................. 7
SPONSORS' SECONDARY MARKET........................... 7
SELLING UNITS TO THE TRUSTEE......................... 7
ROLLOVER/EXCHANGE OPTION............................. 8
HOW THE FUND WORKS...................................... 9
PRICING.............................................. 9
EVALUATIONS.......................................... 9
INCOME............................................... 9
EXPENSES............................................. 10
PORTFOLIO CHANGES.................................... 10
PORTFOLIO TERMINATION................................ 11
NO CERTIFICATES...................................... 11
TRUST INDENTURE...................................... 11
LEGAL OPINION........................................ 12
AUDITORS............................................. 12
SPONSORS............................................. 12
TRUSTEE.............................................. 12
UNDERWRITERS' AND SPONSORS' PROFITS.................. 12
PUBLIC DISTRIBUTION.................................. 13
CODE OF ETHICS....................................... 13
YEAR 2000 ISSUES..................................... 13
ADVERTISING AND SALES LITERATURE........................ 13
TAXES................................................... 13
SUPPLEMENTAL INFORMATION................................ 15
FINANCIAL STATEMENTS.................................... 16
REPORT OF INDEPENDENT ACCOUNTANTS.................... 16
STATEMENT OF CONDITION............................... 16

2
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RISK/RETURN SUMMARY

1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
o The Portfolio seeks capital appreciation by investing in a
fixed portfolio of 63 common stocks of the Russell 1000R
Growth Index.
You can participate in the Portfolio by purchasing units.
Each unit represents an equal share of the stocks in the
Portfolio and receives an equal share of dividend income.
2. WHAT IS THE PORTFOLIO'S INVESTMENT STRATEGY?
o The Russell 1000R Index measures the performance of the
1000 largest US companies based on total market
capitalization.
o The Russell 1000 Growth Index is a subset of approximately
562 of those Russell 1000 companies with higher
price-to-book ratios and higher forecasted growth values.
The Russell 1000 Growth Index is weighted by market
capitalization.
o We selected the 63 stocks in the Portfolio by applying a
quantitative model developed by Bernard V. Tew, chairman of
Q.E.D. Investments, the Portfolio Consultant.
o The Model is designed to identify those stocks:

-- with similar returns and dissimilar price movement (low
correlation).
-- with a strong potential for capital appreciation and to
provide investment results that exceed the Russell 1000
Growth Index.
O To implement the Model the Portfolio Consultant compiles
the historical price data of all securities that comprise
the Russell 1000 Growth Index.

-- Using this historical price data and incorporating risk
reduction techniques, the Portfolio Consultant sets the
stock weightings that the Portfolio Consultant believes
will have a return greater than, but highly correlated
with, the return of the Index.

o The Portfolio Consultant will rebalance the Portfolio on a
yearly basis.

o The Portfolio plans to hold the stocks in the Portfolio for
about one year. At the end of the year, we will liquidate
the Portfolio and apply the same Model to select a new
portfolio, if available.
o Each Select Large-Cap Growth Portfolio is designed to be
part of a longer term strategy. We believe that more
consistent results are likely if the Strategy is followed
for at least three to five years but you are not required
to stay with the Strategy or to roll over your investment.
You can sell your units any time.
3. WHAT INDUSTRIES ARE REPRESENTED IN THE PORTFOLIO?
Based upon the principal business of each issuer and
current market values, the Portfolio represents the
following industries:
APPROXIMATE
PORTFOLIO
PERCENTAGE

o Consumer Products 15%
o Technology 14
o Telecommunications 12
o Medical/Health Care 12
o Food Processing 12
o Others 12
o Food Retail/Wholesales 5
o Multi-Sector 5
o Retail 4
o Financial Services 3
o Multimedia 3
o Oil/Gas 3

3
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Defined Portfolio
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Equity Investor Fund

Select Large-Cap Growth Portfolio 2

Defined Asset Funds
<TABLE>
<CAPTION>

PRICE
TICKER PERCENTAGE PER SHARE COST
NAME OF ISSUER SYMBOL OF PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
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<S> <C> <C> <C> <C>
1. Albertson's, Inc. ABS 1.48% $ 54.1875 $ 5,202.00
2. ALLTEL Corporation AT 1.50 70.9375 5,249.38
3. America Online, Inc. AOL 1.70 119.0000 5,950.00
4. American Home Products
Corporation AHP 0.95 52.8750 3,331.13
5. American International Group,
Inc. AIG 1.89 120.3750 6,620.63
6. Anheuser-Busch Companies, Inc. BUD 1.50 78.6250 5,267.88
7. A T & T Corporation T 2.34 55.6875 8,186.06
8. Avery Dennison Corporation AVY 1.51 62.8750 5,281.50
9. Bestfoods BFO 1.50 47.8125 5,259.38
10. Bristol-Myers Squibb Company BMY 1.82 73.3750 6,383.63
11. Cisco Systems, Inc. CSCO 2.69 64.9375 9,415.94
12. CMGI, Inc. CMGI 0.14 101.5000 507.50
13. Corning, Inc. GLW 0.33 71.6250 1,146.00
14. Dell Computer Corporation DELL 1.21 42.4375 4,243.75
15. Ecolab, Inc. ECL 1.51 41.6250 5,286.38
16. Eli Lilly and Company LLY 1.04 76.0000 3,648.00
17. Enron Corporation ENE 1.49 85.3125 5,204.06
18. General Electric Company GE 4.90 120.0000 17,160.00
19. General Mills, Inc. GIS 1.51 84.1875 5,303.81
20. General Motors Corporation GM 1.50 68.3125 5,260.06
21. H.J. Heinz Company HNZ 1.51 49.3125 5,276.44
22. Hershey Foods Corporation HSY 1.50 57.7500 5,255.25
23. Hewlett-Packard Company HWP 1.26 116.2500 4,417.50
24. Intel Corporation INTC 2.68 67.5625 9,391.19
25. Johnson & Johnson JNJ 1.67 95.9375 5,852.19
26. Kellogg Company K 1.51 32.3750 5,277.13
27. Kimberly-Clark Corporation KMB 1.49 55.0000 5,225.00
28. Lucent Technologies, Inc. LU 2.72 76.1250 9,515.63
29. Maytag Corporation MYG 1.50 73.9375 5,249.56
30. MCI WorldCom, Inc. WCOM 1.99 90.4375 6,963.69
31. Merck & Company, Inc. MRK 2.22 70.6875 7,775.63
32. Microsoft Corporation MSFT 4.02 98.3750 14,067.63

</TABLE>

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(1) Based on Cost to Portfolio.

(2) Valuation by the Trustee made on the basis of closing sale prices at the
evaluation time on July 19, 1999, the business day prior to the initial date
of deposit. The value of the securities on any subsequent business day will
vary.

------------------------------------

The securities were acquired on July 19, 1999 and are represented entirely by
contracts to purchase the securities. Any of the Sponsors may have acted as
underwriters, managers or co-managers of a public offering of the securities in
this Portfolio during the last three years. Affiliates of the Sponsors may serve
as specialists in the securities in this Portfolio on one or more stock
exchanges and may have a long or short position in any of these securities or
options on any of them, and may be on the opposite side of public orders
executed on the floor of an exchange where the securities are listed. An
officer, director or employee of any of the Sponsors may be an officer or
director of one or more of the issuers of the securities in the Portfolio. A
Sponsor may trade for its own account as an odd-lot dealer, market maker, block
positioner and/or arbitrageur in any of the securities or in options on them.
Any Sponsor, its affiliates, directors, elected officers and employee benefits
programs may have either a long or short position in any securities or in
options on them.
------------------------------------

PLEASE NOTE THAT IF THIS PROSPECTUS IS USED AS A PRELIMINARY
PROSPECTUS
FOR A FUTURE FUND IN THIS SERIES, THE PORTFOLIO WILL CONTAIN
DIFFERENT
STOCKS FROM THOSE DESCRIBED ABOVE.

<PAGE>
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Defined Portfolio
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Equity Investor Fund

Select Large-Cap Growth Portfolio 2

Defined Asset Funds

PRICE
TICKER PERCENTAGE PER SHARE COST
NAME OF ISSUER SYMBOL OF PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
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<S> <C> <C> <C> <C>
33. Nike, Inc. NKE 1.51% $ 58.7500 $ 5,287.50
34. Pfizer, Inc. PFE 1.83 37.0625 6,411.81
35. Philip Morris Companies, Inc. MO 1.33 37.4375 4,642.25
36. Pitney Bowes, Inc. PBI 0.06 69.0000 207.00
37. QUALCOMM, Inc. QCOM 0.27 158.6875 952.13
38. Ralston-Ralston Purina Group RAL 1.50 29.9375 5,239.06
39. Safeway, Inc. SWY 1.50 52.6250 5,262.50
40. Sara Lee Corporation SLE 1.50 23.0625 5,258.25
41. SBC Communications, Inc. SBC 1.63 57.0625 5,706.25
42. Schering-Plough Corporation SGP 0.97 54.0625 3,405.94
43. Sealed Air Corporation SEE 1.51 60.6250 5,274.38
44. SLM Holding Corporation SLM 1.51 47.5625 5,279.44
45. SYSCO Corporation SYY 1.48 31.5000 5,197.50
46. The AES Corporation AES 1.45 57.0000 5,073.00
47. The Clorox Company CLX 1.51 110.0000 5,280.00
48. The Coca-Cola Company KO 1.97 63.1875 6,887.44
49. The Estee Lauder Companies,
Inc. EL 1.47 55.3125 5,144.06
50. The Gillette Company G 1.51 46.6875 5,275.69
51. The Home Depot, Inc. HD 1.23 69.3750 4,301.25
52. The McGraw-Hill Companies, Inc. MHP 1.51 52.5625 5,308.81
53. The Procter & Gamble Company PG 1.43 89.6875 5,022.50
54. The Quaker Oats Company OAT 1.49 67.8125 5,221.56
55. The ServiceMaster Company SVM 1.49 17.1875 5,207.81
56. Time Warner, Inc. TWX 1.07 76.6875 3,757.69
57. U S WEST, Inc. USW 1.50 59.7500 5,258.00
58. UST, Inc. UST 1.51 29.5000 5,280.50
59. USX-Marathon Group MRO 1.49 32.3125 5,234.63
60. Wal-Mart Stores, Inc. WMT 2.69 48.1250 9,432.50
61. Waste Management, Inc. WMI 1.49 35.8750 5,237.75
62. Wellpoint Health Networks, Inc. WLP 1.50 83.3750 5,252.63
63. Yahoo!, Inc. YHOO 0.51 149.5000 1,794.00
-------------------- -----------------
100.00% $ 350,267.76
-------------------- -----------------
-------------------- -----------------

</TABLE>

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(1) Based on Cost to Portfolio.

------------------------------------

PLEASE NOTE THAT IF THIS PROSPECTUS IS USED AS A PRELIMINARY
PROSPECTUS
FOR A FUTURE FUND IN THIS SERIES, THE PORTFOLIO WILL CONTAIN
DIFFERENT
STOCKS FROM THOSE DESCRIBED ABOVE.

<PAGE>

RISK/RETURN SUMMARY (Continued)

4. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE PORTFOLIO. THIS CAN
HAPPEN FOR VARIOUS REASONS, INCLUDING:
o The Portfolio is composed of growth stocks that are subject
to above-average price volatility.
o The Portfolio has invested in a limited subset of index
stocks, and therefore Portfolio performance may not keep
pace with index performance to the extent the index is
driven by stocks not held in the Portfolio.
o The Portfolio does not reflect any investment
recommendations of any of the Sponsors.
o The Portfolio may continue to purchase or hold the stocks
originally selected even though their market value may have
changed, they may no longer be included in the Russell 1000
Growth Index or they may be subject to sell recommendations
from one or more of the Sponsors.

5. IS THIS PORTFOLIO APPROPRIATE FOR YOU?
Yes, if you want capital appreciation and are willing to
take the increased risks involved with growth stocks. You
will benefit from a professionally selected and supervised
portfolio whose risk is reduced by investing in equity
securities of different issuers in a variety of industries.
The Portfolio is not appropriate for you if you are not
comfortable with the Strategy or are unwilling to take the
risk involved with a growth equity investment. It may not
be appropriate for you if you are seeking preservation of
capital or high current income.

6. WHAT ARE THE PORTFOLIO'S FEES AND EXPENSES?
This table shows the costs and expenses you may pay,
directly or indirectly, when you invest in the Portfolio.

ESTIMATED ANNUAL OPERATING
EXPENSES
AMOUNT
AS A % OF PER 1,000
NET ASSETS UNITS
---------- -----------
.091% $ 0.90
Trustee's Fee
.070% $ 0.70
Portfolio Supervision,
Bookkeeping and
Administrative Fees
.078% $ 0.77
Other Operating Expenses
---------- -----------
.239% $ 2.37
TOTAL

ORGANIZATION COSTS per 1,000
units (deducted from Portfolio
assets at the close of the initial
offering period) $2.63
INVESTOR FEES
Maximum Sales Fee (Load) on new
purchases (as a percentage of $1,000
invested) 2.75%
You will pay an up-front sales fee of approximately 1.00%, as
well as a total deferred sales fee of $17.50 ($1.75 per 1,000
units deducted from the Portfolio's net asset value on
November 1 and November 15, 1999 and thereafter on the first
day of each month through July 1, 2000).
The maximum sales fees are as follows:

YOUR MAXIMUM
SALES FEE
IF YOU INVEST: WILL BE:
----------------------------------- -----------------
Less than $50,000 2.75%
$ 50,000 to $99,999 2.50%
$100,000 to $249,999 2.00%
$250,000 to $999,999 1.75%
$1,000,000 or more 1.00%

EXAMPLE
This example may help you compare the cost of investing in
the Portfolio to the cost of investing in other funds.
The example assumes that you invest $10,000 in the
Portfolio for the periods indicated and sell all your units
at the end of those periods. The example also assumes a 5%
return on your investment each year and that the
Portfolio's operating expenses stay the same. Although your
actual costs may be higher or lower, based on these
assumptions your costs would be:

1 Year 3 Years 5 Years 10 Years
$328 $803 $1,304 $2,682

4
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7. IS THE PORTFOLIO MANAGED?
Unlike a mutual fund, the Portfolio is not managed and
stocks are not sold because of market changes. The Sponsors
monitor the portfolio and may instruct the Trustee to sell
securities under certain limited circumstances. However,
given the investment philosophy of the Portfolio, the
Sponsors are not likely to do so.

8. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from any of the Sponsors and other
broker-dealers. The Sponsors are listed later in this
prospectus. Some banks may offer units for sale through
special arrangements with the Sponsors, although certain
legal restrictions may apply. Employees of certain Sponsors
and Sponsor affiliates and non-employee directors of
certain of the Sponsors may purchase Units at a reduced
sales charge.
UNIT PRICE PER 1,000 UNITS $999.93
(as of July 19, 1999)
Unit price is based on the net asset value of the Portfolio
plus the up-front sales fee. Unit price also includes the
estimated organization costs shown on page 4, to which no
sales fee has been applied.
The Portfolio stocks are valued by the Trustee on the basis
of their closing prices at 4:00 p.m. Eastern time every
business day. Unit price changes every day with changes in
the prices of the stocks.

9. HOW DO I SELL UNITS?
You may sell your units at any time to any Sponsor or the
Trustee for the net asset value determined at the close of
business on the date of sale, less any remaining deferred
sales fee and the costs of liquidating securities to meet
the redemption.

10. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays distributions of any dividend income, net of
expenses, on the 25th of November, 1999 and May, 2000, if
you own units on the 10th of those months. For tax
purposes, you will be considered to have received all the
dividends paid on your pro rata portion of each security in
the Portfolio when those dividends are received by the
Portfolio regardless of whether you reinvest your dividends
in the Portfolio. A portion of the dividend payments may be
used to pay expenses of the Portfolio.
11. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your distributions into
additional units of the Portfolio. You will pay only the
deferred sales fee remaining at the time of reinvestment.
Unless you choose reinvestment, you will receive your
distributions in cash.
EXCHANGE PRIVILEGES
You may exchange units of this Portfolio for units of
certain other Defined Asset Funds. You may also exchange
into this Portfolio from certain other funds. We charge a
reduced sales fee on designated exchanges.

5
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WHAT YOU CAN EXPECT FROM YOUR INVESTMENT

INCOME

The Portfolio will pay to you any income it has received two times during its
life. Because the Portfolio generally pays dividends as they are received,
individual income payments will fluctuate based upon the amount of dividends
declared and paid by each issuer. Other reasons your income may vary are:

o changes in the Portfolio because of additional securities purchases or
sales;

o a change in the Portfolio's expenses; and

o the amount of dividends declared and paid.

There can be no assurance that any dividends will be declared or paid.

RECORDS AND REPORTS

You will receive:

o a notice from the Trustee if new equity securities are deposited in exchange
or substitution for equity securities originally deposited;

o a final report on Portfolio activity; and

o annual tax information. This will also be sent to the IRS. You must report the
amount of income received during the year. Please contact your tax adviser in
this regard.

You may request audited financial statements of the Portfolio from the Trustee.

You may inspect records of Portfolio transactions at the Trustee's office during
regular business hours.

THE RISKS YOU FACE

LITIGATION AND LEGISLATION RISKS

We do not know of any pending litigation that might have a material adverse
effect upon the Portfolio.

Future tax legislation could affect the value of the Portfolio by:

o reducing the dividends-received deduction or

o increasing the corporate tax rate resulting in less money available for
dividend payments.

INDEX PAST PERFORMANCE

The chart below shows how the Russell 1000 Growth Index has performed over the
past 20 years. The stocks in the Portfolio comprise only 63 of the 562 stocks
that make up the Russell 1000 Growth Index, and there can be no assurance that
the Portfolio will perform better or worse than the Index itself. Portfolio
performance will vary from that of the Index for a variety of reasons. For
example, the Portfolio is invested in a limited number of Index stocks, and
therefore its performance may not keep pace with Index performance to the extent
the Index is driven by stocks not held in the Portfolio. Of course, past
performance is no guarantee of future results. And, while the Index is the
starting point for selecting the Portfolio stocks, the application of the Model,
as well as Portfolio sales fees and expenses, would have materially affected
results.

6
<PAGE>

RUSSELL 1000R GROWTH INDEX
TOTAL RETURN*
--------------------------
1979 23.91%
1980 39.57
1981 -11.31
1982 20.46
1983 15.98
1984 -0.95
1985 32.85
1986 15.36
1987 5.31
1988 11.27
1989 35.92
1990 -0.26
1991 41.16
1992 5.00
1993 2.90
1994 2.66
1995 37.19
1996 23.12
1997 30.49
1998 38.71
20 YEAR AVERAGE
ANNUAL RETURN 17.40

- ------------------------------------

*Returns represent price changes plus dividends reinvested.

Source: Ibbotson Associates, Inc.

SELLING OR EXCHANGING UNITS

You can sell your units at any time for a price based on their net asset value.
Your net asset value is calculated each business day by:

o adding the value of the Portfolio Securities, cash and any other Portfolio
assets;

o subtracting accrued but unpaid Portfolio expenses, unreimbursed Trustee
advances, cash held to buy back units or for distribution to investors,
and any other Portfolio liabilities; and

o dividing the result by the number of outstanding units.

Your net asset value when you sell may be more or less than your cost because of
sales fees, market movements and changes in the Portfolio.

As of the close of the initial offering period, the price you receive will be
reduced to pay the Portfolio's estimated organization costs.

If you sell your units before the final deferred sales fee installment, the
amount of any remaining payments will be deducted from your proceeds.

SPONSORS' SECONDARY MARKET

While we are not obligated to do so, we will buy back units at net asset value
less any remaining deferred sales fee and the cost of liquidating securities to
meet the redemption. We may resell the units to other buyers or to the Trustee.

We have maintained a secondary market continuously for more than 28 years, but
we could discontinue it without prior notice for any business reason.

SELLING UNITS TO THE TRUSTEE

Regardless of whether we maintain a secondary market, you can sell your units to
the Trustee at any time by contacting your broker, dealer or financial
institution that holds your units in street name. Sometimes, additional
documents are needed such as a trust document, certificate of corporate
authority, certificate of death or appointment as executor, administrator or
guardian.

Within seven days after your request and the necessary documents are received,
the Trustee

7
<PAGE>
will mail a check to you. Contact the Trustee for additional information.

As long as we are maintaining a secondary market, the Trustee will sell your
units to us at a price based on net asset value. If there is no secondary
market, the Trustee will sell your units in the over-the-counter market if it
believes it can obtain a higher price. In that case, you will receive the net
proceeds of the sale.

If the Portfolio does not have cash available to pay you for the units you are
selling, the agent for the Sponsors will select securities to be sold. These
sales could be made at times when the securities would not otherwise be sold and
may result in your receiving less than you paid for your unit and also reduce
the size and diversity of the Portfolio.

If you sell units with a value of at least $500,000, you may choose to receive
your distribution 'in kind.' If you so choose, you will receive securities and
cash with a total value equal to the price of your units. The Trustee will try
to distribute securities in the portfolio pro rata, but it reserves the right to
distribute only one or a few securities. The Trustee will act as your agent in
an in-kind distribution and will either hold the securities for your account or
transfer them as you instruct. You must pay any transaction costs as well as
transfer and ongoing custodial fees on sales of securities distributed in kind.

There could be a delay in paying you for your units:

o if the New York Stock Exchange is closed (other than customary weekend and
holiday closings);

o if the SEC determines that trading on the New York Stock Exchange is
restricted or that an emergency exists making sale or evaluation of the
securities not reasonably practicable; and

o for any other period permitted by SEC order.

ROLLOVER/EXCHANGE OPTION

When this Portfolio is about to terminate, you may have the option to roll your
proceeds into the next Select Large-Cap Growth Portfolio if one is available.

If you hold your Units with one of the Sponsors and notify your financial
adviser by July 24, 2000, your units will be redeemed and certain distributed
securities plus the proceeds from the sale of the remaining distributed
securities will be reinvested in units of a new Select Large-Cap Growth
Portfolio Series. If you decide not to roll over your proceeds, you will receive
a cash distribution (or, if you so choose, an in-kind distribution) after the
Portfolio terminates.

The Portfolio will terminate by August 18, 2000. You may, by written notice to
the Trustee at least ten business days prior to termination, elect to receive an
in-kind distribution of your pro rata share of the securities remaining in the
Portfolio at that time (net of your share of expenses). Of course you can sell
your Units at any time prior to termination.

You may exchange units of this Portfolio for units of another Select or Focus
Series or certain other Defined Asset Funds any time before this Portfolio
terminates. If you continue to hold your Units, you may

8
<PAGE>
exchange units of this Portfolio for units of certain other Defined Asset Funds
at a reduced sales fee if your investment goals change. To exchange units, you
should talk to your financial professional about what Portfolios are
exchangeable, suitable and currently available.

We may amend or terminate the options to exchange your units or roll your
proceeds at any time without notice.

HOW THE FUND WORKS

PRICING

Units are charged a combination of initial and deferred sales fees.

In addition, during the initial offering period, a portion of the price of a
unit also consists of securities to pay all or some of the costs of organizing
the Portfolio including:

o cost of initial preparation of legal documents;

o federal and state registration fees;

o initial fees and expenses of the Trustee;

o initial audit; and

o legal expenses and other out-of-pocket expenses.

The estimated organization costs will be deducted from the assets of the
Portfolio as of the close of the initial offering period.

The deferred sales fee is generally a monthly charge of $1.75 per 1,000 units
and is accrued in ten monthly installments. Units redeemed or repurchased prior
to the accrual of the final deferred sales fee installment will have the amount
of any remaining installments deducted from the redemption or repurchase
proceeds or deducted in calculating an in-kind distribution, however, this
deduction will be waived in the event of the death or disability (as defined in
the Internal Revenue Code of 1986) of an investor. The initial sales fee is
equal to the aggregate sales fee less the aggregate amount of any remaining
installments of the deferred sales fee.

It is anticipated that securities will not be sold to pay the deferred sales fee
until after the date of the last installment. Investors will be at risk for
market price fluctuations in the securities from the several installment accrual
dates to the dates of actual sale of securities to satisfy this liability.

EVALUATIONS

The Trustee values the securities on each business day (i.e., any day other than
Saturdays, Sundays and the following holidays as observed by the New York Stock
Exchange: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
If the securities are listed on a national securities exchange or the Nasdaq
National Market, evaluations are generally based on closing sales prices on that
exchange or that system or, if closing sales prices are not available, at the
mean between the closing bid and offer prices.

INCOME

o The annual income per unit, after deducting estimated annual Portfolio
expenses per unit, will depend primarily upon the amount of dividends declared
and paid by the issuers of the securities and changes in the expenses of the
Portfolio and, to a lesser degree, upon the level of purchases of

9
<PAGE>
additional securities and sales of securities. There is no assurance that
dividends on the securities will continue at their current levels or be
declared at all.

o Each unit receives an equal share of distributions of dividend income net of
estimated expenses. Because dividends on the securities are not received at a
constant rate throughout the year, any distribution may be more or less than
the amount then credited to the income account. The Trustee credits dividends
received to an Income Account and other receipts to a Capital Account. The
Trustee may establish a reserve account by withdrawing from these accounts
amounts it considers appropriate to pay any material liability. These accounts
do not bear interest.

EXPENSES

The Trustee is paid a fee monthly. It also benefits when it holds cash for the
Portfolio in non-interest bearing accounts. The Trustee may also receive
additional amounts:

o for extraordinary services and costs of indemnifying the Trustee and the
Sponsors;

o costs of actions taken to protect the Portfolio and other legal fees and
expenses;

o expenses for keeping the Portfolio's registration statement current; and

o Portfolio termination expenses and any governmental charges.

The Sponsors are currently reimbursed up to 70 cents per 1,000 units annually
for fees charged by Portfolio Service providers, for providing portfolio
supervisory, bookkeeping and administrative services and for any other expenses
properly chargeable to the Portfolio. While this fee may exceed the amount of
these costs and expenses attributable to this Portfolio, the total of these fees
for all Series of Defined Asset Funds will not exceed the aggregate amount
attributable to all of these Series for any calendar year. Certain of these
expenses were previously paid for by the Sponsors.

The Trustee's and Sponsors'fees may be adjusted for inflation without investors'
approval.

The deferred sales fees you owe are paid from the Capital Account. Although we
may collect the deferred sales charge monthly, to keep Units more fully invested
we do not currently plan to pay the deferred sales charge until after the
rollover notification date.

The Sponsors will pay advertising and selling expenses at no charge to the
Portfolio. If Portfolio expenses exceed initial estimates, the Portfolio will
owe the excess. The Trustee has a lien on Portfolio assets to secure
reimbursement of Portfolio expenses and may sell securities if cash is not
available.

PORTFOLIO CHANGES

If we maintain a secondary market in units but are unable to sell the units that
we buy in the secondary market, we will redeem units, which will affect the size
and composition of the portfolio.

We decide whether to offer units for sale that we acquire in the secondary
market after reviewing:

o diversity of the Portfolio;

o size of the Portfolio relative to its original size;

o ratio of Portfolio expenses to income; and

o cost of maintaining a current prospectus.

10
<PAGE>
PORTFOLIO TERMINATION

When the Portfolio is about to terminate you will receive a notice, and you will
be unable to sell your units after that time. Unless you choose to receive an
in-kind distribution of securities, we will sell any remaining securities, and
you will receive your final distribution in cash.

You will pay your share of the expenses associated with termination, including
brokerage costs in selling securities. This may reduce the amount you receive as
your final distribution.

NO CERTIFICATES

All investors are required to hold their Units in uncertificated form and in
'street name' by their broker, dealer or financial institution at the Depository
Trust Company.

TRUST INDENTURE

The Portfolio is a 'unit investment trust' governed by a Trust Indenture, a
contract among the Sponsors and the Trustee, which sets forth their duties and
obligations and your rights. A copy of the Indenture is available to you on
request to the Trustee. The following summarizes certain provisions of the
Indenture.

The Sponsors and the Trustee may amend the Indenture without your consent:

o to cure ambiguities;

o to correct or supplement any defective or inconsistent provision;

o to make any amendment required by any governmental agency; or

o to make other changes determined not to be materially adverse to your best
interest (as determined by the Sponsors).

Investors holding 51% of the units may amend the Indenture. Every investor must
consent to any amendment that changes the 51% requirement. No amendment may
reduce your interest in the Portfolio without your written consent.

The Trustee may resign by notifying the Sponsors. The Sponsors may remove the
Trustee without your consent if:

o it fails to perform its duties;

o it becomes incapable of acting or bankrupt or its affairs are taken over by
public authorities; or

o the Sponsors determine that its replacement is in your best interest.

Investors holding 51% of the units may remove the Trustee. The Trustee may
resign or be removed by the Sponsors without the consent of investors. The
resignation or removal of the Trustee becomes effective when a successor accepts
appointment. The Sponsors will try to appoint a successor promptly; however, if
no successor has accepted within 30 days after notice of resignation, the
resigning Trustee may petition a court to appoint a successor.

Any Sponsor may resign as long as one Sponsor with a net worth of $2 million
remains and agrees to the resignation. The remaining Sponsors and the Trustee
may appoint a replacement. If there is only one Sponsor and it fails to perform
its duties or becomes bankrupt the Trustee may:

o remove it and appoint a replacement Sponsor;

o liquidate the Portfolio; or

11
<PAGE>
o continue to act as Trustee without a Sponsor.

Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as agent for the
Sponsors.

The Trust Indenture contains customary provisions limiting the liability of the
Trustee and the Sponsors.

LEGAL OPINION

Davis Polk & Wardwell, 450 Lexington Avenue, New York, New York 10017, as
special counsel for the Sponsors, has given an opinion that the units are
validly issued.

AUDITORS

Deloitte & Touche LLP, 2 World Financial Center, New York, New York 10281,
independent accountants, audited the Statement of Condition included in this
prospectus.

SPONSORS

The Sponsors are:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (a wholly-owned subsidiary of
Merrill Lynch & Co., Inc.)

P.O. Box 9051,
Princeton, NJ 08543-9051

DEAN WITTER REYNOLDS INC. (a principal operating subsidiary of Morgan Stanley
Dean Witter & Co.)
Two World Trade Center--59th Floor,
New York, NY 10048
PAINEWEBBER INCORPORATED (a wholly-owned subsidiary of PaineWebber Group Inc.)
1285 Avenue of the Americas,
New York, NY 10019

Each Sponsor is a Delaware corporation and it, or its predecessor, has acted as
sponsor to many unit investment trusts. As a registered broker-dealer each
Sponsor buys and sells securities (including investment company shares) for
others (including investment companies) and participates as an underwriter in
various selling groups.

TRUSTEE

The Bank of New York, Unit Trust Department, P.O. Box 974 Wall Street Station,
New York, New York 10268-0974, is the Trustee. It is supervised by the Federal
Deposit Insurance Corporation, the Board of Governors of the Federal Reserve
System and New York State banking authorities.

UNDERWRITERS' AND SPONSORS' PROFITS

Underwriters receive sales charges when they sell units. Any cash made available
by you to the Sponsors before the settlement date for those units may be used in
the Sponsors' businesses to the extent permitted by federal law and may benefit
the Sponsors.

A Sponsor or Underwriter may realize profits or sustain losses on stocks in the
Portfolio which were acquired from underwriting syndicates of which it was a
member.

During the initial offering period, the Sponsors may realize profits or sustain
losses on units they hold due to fluctuations in the price per unit. The
Sponsors experienced a loss of $279.10 on the initial deposit of the securities.
Any profit or loss to the Portfolio will be effected by the receipt of
applicable sales charges and a gain or loss on subsequent deposits of
Securities. In maintaining a secondary market, the Sponsors will also realize
profits or sustain losses in the amount of any difference between the prices at
which

12
<PAGE>
they buy units and the prices at which they resell or redeem them.

PUBLIC DISTRIBUTION

During the initial offering period, units will be distributed to the public by
the Sponsors and dealers who are members of the National Association of
Securities Dealers, Inc.

Dealers will be entitled to the concession stated below on Units sold or
redeemed during the first year.

DEALER CONCESSION AS
A % OF PUBLIC
AMOUNT PURCHASED OFFERING PRICE
---------------------------- ---------------------
Less than $50,000 2.00%
$50,000 to $99,999 1.80%
$100,000 to $249,999 1.45%
$250,000 to $999,999 1.25%
$1,000,000 and over 0.50%

The Sponsors do not intend to qualify units for sale in any foreign countries.
This prospectus does not constitute an offer to sell units in any country where
units cannot lawfully be sold.

CODE OF ETHICS

Merrill Lynch, as agent for the Sponsors, has adopted a code of ethics requiring
reporting of personal securities transactions by its employees with access to
information on portfolio transactions. The goal of the code is to prevent fraud,
deception or misconduct against the Portfolio and to provide reasonable
standards of conduct.

YEAR 2000 ISSUES

Many computer systems were designed in such a way that they may be unable to
distinguish between the year 2000 and the year 1900 (commonly known as the 'Year
2000 Problem'). We do not expect that the computer system changes necessary to
prepare for the Year 2000 will cause any major operational difficulties for the
Portfolio. The Year 2000 Problem may adversely affect the issuers of the
securities contained in the Portfolio, but we cannot predict whether any impact
will be material to the Portfolio as a whole.

ADVERTISING AND SALES LITERATURE

Sales material may discuss developing a long-term financial plan, working with
your financial professional; the nature and risks of various investment
strategies and Defined Asset Funds that could help you toward your financial
goals and the importance of dicipline; how securities are selected for these
funds, how the funds are created and operated, features such as convenience and
costs, and options available for certain types of funds including automatic
reinvestment, rollover, exchanges and redemption. It may also summarize some
similarities and differences with mutual funds and discuss the philosophy of
spending time in the market rather than trying to time the market, including
probabilities of negative returns over various holding periods.

TAXES

The following summary describes some of the important income tax consequences of
holding units. It assumes that you are not a dealer, financial institution,
insurance company or other investor with special circumstances. You should
consult your own tax adviser about your particular circumstances.

13
<PAGE>
In the opinion of our counsel, under existing law:

GENERAL TREATMENT OF THE FUND AND YOUR INVESTMENT

The Portfolio will not be taxed as a corporation for federal income tax
purposes, and you will be considered to own directly your share of each Security
in the Portfolio.

You will be considered to receive your share of any dividends paid when those
dividends are received by the Portfolio. Income from dividends will be taxed at
ordinary income rates. If you are a corporate investor, you may be eligible for
the dividends received deduction if you satisfy the applicable holding period
and other requirements. You should consult your tax adviser in this regard.

GAIN OR LOSS UPON DISPOSITION

You will generally recognize gain or loss when you dispose of your units for
cash (by sale or redemption) or when the Trustee disposes of the Securities in
the Portfolio. You generally will not recognize gain or loss on an 'in-kind'
distribution to you of your proportional share of the Portfolio Securities,
whether it is in redemption of your units or upon termination of the Portfolio.
Your basis for Securities distributed to you will be the same as the portion of
your basis in your units that is attributable to the distributed Securities.
Your holding period for the distributed Securities will include your holding
period in your units.

If you elect to roll over your investment in the Portfolio, you will not
recognize gain or loss on your units except to the extent that your share of the
Securities in the Portfolio is sold and the proceeds are paid to you. Your basis
in the Securities that are rolled over into a new portfolio will be the same as
the portion of your basis in your units which was attributable to the rolled
over Securities.

If your net long-term capital gains exceed your net short-term capital losses,
the excess may be subject to tax at a lower rate than ordinary income. Any
capital gain or loss from the Portfolio will be long-term if you are considered
to have held your investment which produces the gain or loss for more than one
year and short-term otherwise. Because the deductibility of capital losses is
subject to limitations, you may not be able to deduct all of your capital
losses. You should consult your tax adviser in this regard.

YOUR TAX BASIS IN THE SECURITIES

Your aggregate tax basis in units that you have purchased for cash will be equal
to the cost of the units, including the sales fee. Your aggregate tax basis in
units that you hold as a result of a rollover from an earlier portfolio will
equal your basis in Securities that have been rolled over from the previous
portfolio plus the proceeds (other than proceeds that were paid to you) from the
sale of Securities from the portfolio which were not rolled over. You should not
increase your basis in your units by deferred sales charges or organizational
expenses. The tax reporting form and annual statements you receive will be based
on the net amounts paid to you, from which these expenses will already be
deducted.

EXPENSES

If you are an individual who itemizes deductions, you may deduct your share of

14
<PAGE>
Portfolio expenses, but only to the extent that your share of the expenses,
together with your other miscellaneous deductions, exceeds 2% of your adjusted
gross income. Your ability to deduct Portfolio expenses will be limited further
if your adjusted gross income exceeds a specified amount (currently, $126,600 or
$63,300 for a married person filing separately).

STATE AND LOCAL TAXES

Under the income tax laws of the State and City of New York, the Portfolio will
not be taxed as a corporation, and the income of the Portfolio will be treated
as the income of the investors in the same manner as for federal income tax
purposes.

FOREIGN INVESTORS

If you are a foreign investor and you are not engaged in a U.S. trade or
business, you generally will be subject to 30% withholding tax (or a lower
applicable treaty rate) on distributions. You should consult your tax adviser
about the possible application of federal, state and local, and foreign taxes.

RETIREMENT PLANS

You may wish to purchase units for an Individual Retirement Account ('IRAs') or
other retirement plan. Generally, capital gains and income received in each of
these plans are exempt from federal taxation. All distributions from these types
of plans are generally treated as ordinary income but may, in some cases, be
eligible for tax-deferred rollover treatment. You should consult your attorney
or tax adviser about the specific tax rules relating to these plans. These plans
are offered by brokerage firms, including the Sponsors of this Portfolio, and
other financial institutions. Fees and charges with respect to such plans may
vary.

SUPPLEMENTAL INFORMATION

You can receive at no cost supplemental information about the Portfolio by
calling the Trustee. The supplemental information includes more detailed risk
disclosure and general information about the structure and operation of the
Portfolio. The supplemental information is also available from the SEC.

15
<PAGE>

REPORT OF INDEPENDENT ACCOUNTANTS

The Sponsors, Trustee and Holders of Equity Investor Fund, Select Large-Cap
Growth Portfolio 2, Defined Asset Funds (the 'Portfolio'):

We have audited the accompanying statement of condition and the related defined
portfolio included in the prospectus of the Portfolio as of July 20, 1999. This
financial statement is the responsibility of the Trustee. Our responsibility is
to express an opinion on this financial statement based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statement is free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statement. Our procedures included
confirmation of an irrevocable letter of credit deposited for the purchase of
securities, as described in the statement of condition, with the Trustee. An
audit also includes assessing the accounting principles used and significant
estimates made by the Trustee, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.

In our opinion, the financial statement referred to above presents fairly, in
all material respects, the financial position of the Portfolio as of July 20,
1999 in conformity with generally accepted accounting principles.

DELOITTE & TOUCHE LLP
New York, N.Y.
July 20, 1999

STATEMENT OF CONDITION AS OF JULY 20, 1999

TRUST PROPERTY

Investments--Contracts to purchase Securities(1).........$ 350,267.76
--------------------
Total.........................................$ 350,267.76
--------------------
--------------------
LIABILITY AND INTEREST OF HOLDERS
Reimbursement of Sponsors for organization
expenses(2).......................................$ 930.51
--------------------
Subtotal 930.51
--------------------
Interest of Holders of 353,805 Units of fractional
undivided interest outstanding:(3)
Cost to investors(4)...................................$ 353,780.23
Gross underwriting commissions and organization
expenses(5)(2)....................................... (4,442.98)
--------------------
Subtotal 349,337.25
--------------------
Total.........................................$ 350,267.76
--------------------
--------------------

- ---------------

(1) Aggregate cost to the Portfolio of the securities listed under
Defined Portfolio determined by the Trustee at 4:00 p.m., Eastern time on July
19, 1999. The contracts to purchase securities are collateralized by an
irrevocable letter of credit which has been issued by DBS Bank, New York Branch,
in the amount of $350,546.86 and deposited with the Trustee. The amount of the
letter of credit includes $350,267.76 for the purchase of securities.

(2) A portion of the Public Offering Price consists of securities in
an amount sufficient to pay all or a portion of the costs incurred in
establishing the Portfolio. These costs have been estimated at $2.63 per 1,000
Units. A distribution will be made as of the close of the initial offering
period to an account maintained by the Trustee from which the organization
expenses obligation of the investors will be satisfied. If the actual
organization costs exceed the estimated aggregate amount shown above, the
Sponsors will pay for the excess amount.

(3) Because the value of securities at the evaluation time on the
Initial Date of Deposit may differ from the amounts shown in this statement of
condition, the number of Units offered on the Initial Date of Deposit will be
adjusted to maintain the $999.93 per 1,000 Units offering price only for that
day. The Public Offering Price on any subsequent business day will vary.

(4) Aggregate public offering price computed on the basis of the value
of the underlying securities at 4:00 p.m., Eastern time on July 19, 1999.

(5) Assumes the maximum initial sales charge per 1,000 units of 1.00%
of the Public Offering Price. A deferred sales charge of $1.75 per 1,000 Units
is payable on November 1 and 15, 1999 and thereafter on the 1st day of each
month through July 1, 2000. Distributions will be made to an account maintained
by the Trustee from which the deferred sales charge obligation of the investors
to the Sponsors will be satisfied. If units are redeemed prior to July 1, 2000,
the remaining portion of the distribution applicable to such units will be
transferred to such account on the redemption date.

16
<PAGE>
Defined
Asset FundsSM

HAVE QUESTIONS ? EQUITY INVESTOR FUND
Request the most SELECT LARGE-CAP GROWTH PORTFOLIO 2
recent free Information (A Unit Investment Trust)
Supplement that gives more ---------------------------------------
details about the Fund, This Prospectus does not contain
by calling: complete information about the
The Bank of New York investment company filed with the
1-800-221-7771 Securities and Exchange Commission in
Washington, D.C. under the:
o Securities Act of 1933 (file no.
333-80631) and
o Investment Company Act of 1940 (file
no. 811-3044).
TO OBTAIN COPIES AT PRESCRIBED RATES--
WRITE: Public Reference Section of the
Commission
450 Fifth Street, N.W., Washington,
D.C. 20549-6009
CALL: 1-800-SEC-0330.
VISIT: http://www.sec.gov.
---------------------------------------
No person is authorized to give any
information or representations about
this Fund not contained in this
Prospectus or the Information
Supplement, and you should not rely on
any other information.
---------------------------------------
When units of this Fund are no longer
available, this Prospectus may be used
as a preliminary prospectus for a
future series, but some of the
information in this Prospectus will be
changed for that series.
Units of any future series may not be
sold nor may offers to buy be accepted
until that series has become effective
with the Securities and Exchange
Commission. No units can be sold in any
State where a sale would be illegal.

100181RR--7/99

<PAGE>
PART II
ADDITIONAL INFORMATION NOT INCLUDED IN THE PROSPECTUS

A. The following information relating to the Depositors is incorporated by
reference to the SEC filings indicated and made a part of this Registration
Statement.

I. Bonding arrangements of each of the Depositors are incorporated by reference
to Item A of Part II to the Registration Statement on Form S-6 under the
Securities Act of 1933 for Municipal Investment Trust Fund, Monthly Payment
Series--573 Defined Asset Funds (Reg. No. 333-08241).

II. The date of organization of each of the Depositors is set forth in Item B
of Part II to the Registration Statement on Form S-6 under the Securities Act of
1933 for Municipal Investment Trust Fund, Monthly Payment Series--573 Defined
Asset Funds (Reg. No. 333-08241) and is herein incorporated by reference
thereto.

III. The Charter and By-Laws of each of the Depositors are incorporated herein
by reference to Exhibits 1.3 through 1.12 to the Registration Statement on Form
S-6 under the Securities Act of 1933 for Municipal Investment Trust Fund,
Monthly Payment Series--573 Defined Asset Funds (Reg. No. 333-08241).

IV. Information as to Officers and Directors of the Depositors has been filed
pursuant to Schedules A and D of Form BD under Rules 15b1-1 and 15b3-1 of the
Securities Exchange Act of 1934 and is incorporated by reference to the SEC
filings indicated and made a part of this Registration Statement:

Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221
PaineWebber Incorporated.................................. 8-16267
Dean Witter Reynolds Inc. ................................ 8-14172

------------------------------------

B. The Internal Revenue Service Employer Identification Numbers of the
Sponsors and Trustee are as follows:

Merrill Lynch, Pierce, Fenner & Smith Incorporated 13-5674085
PaineWebber Incorporated.................................. 13-2638166
Dean Witter Reynolds Inc. ................................ 94-0899825
The Bank of New York, Trustee............................. 13-4941102

UNDERTAKING
The Sponsors undertake that they will not make any amendment to the Supplement
to this Registration Statement which includes material changes without
submitting the amendment for Staff review prior to distribution.

II-1
<PAGE>
SERIES OF EQUITY INCOME FUND AND EQUITY INVESTOR FUND,
DESIGNATED PURSUANT TO RULE 487 UNDER THE SECURITIES ACT OF 1933

SEC
SERIES NUMBER FILE NUMBER
- --------------------------------------------------------------------------------
Equity Investor Fund, Select S&P Industrial Portfolio--1998
Series H.................................................... 333-64577
Equity Income Fund, Investment Philosophy Series 1991
Selected Industrial Portfolio............................... 33-39158
Equity Investor Fund, Standard & Poor's Industry Turnaround
Portfolio................................................... 333-39121

CONTENTS OF REGISTRATION STATEMENT
The Registration Statement on Form S-6 comprises the following papers and
documents:

The facing sheet of Form S-6.

The Cross-Reference Sheet (incorporated by reference to the Cross-Reference
Sheet to the Registration Statement of Defined Asset Funds Municipal Insured
Series, 1933 Act File No. 33-54565).

The Prospectus.

Additional Information not included in the Prospectus (Part II).

The following exhibits:

1.1 --Form of Trust Indenture (incorporated by reference to Exhibit
1.1 to the Registration Statement of Equity Income Fund, Select
S&P Industrial Portfolio 1997 Series A. 1933 Act File No.
33-05683.
1.1.1 --Form of Standard Terms and Conditions of Trust Effective
October 21, 1993 (incorporated by reference to Exhibit 1.1.1 to
the Registration Statement of Municipal Investment Trust Fund,
Multistate Series--48, 1933 Act File No. 33-50247).
1.2 --Form of Master Agreement Among Underwriters (incorporated by
reference to Exhibit 1.2 to the Registration Statement of The
Corporate Income Fund, One Hundred Ninety-Fourth Monthly
Payment Series, 1933 Act File No. 2-90925).
3.1 --Opinion of counsel as to the legality of the securities being
issued including their consent to the use of their names under
the heading 'How The Fund Works--Legal Opinion' in the
Prospectus.
5.1 --Consent of independent accountants.
9.1 --Information Supplement (incorporated by reference to Exhibit
9.1 to the Registration Statement of Equity Investor Fund,
Select Ten Portfolio 1999 International Series A (United
Kingdom Portfolio), 1933 Act File No. 333-70593).

R-1
<PAGE>
SIGNATURE

The registrant hereby identifies the series numbers of Equity Income Fund
and Equity Investor Fund listed on page R-1 for the purposes of the
representations required by Rule 487 and represents the following:

1) That the portfolio securities deposited in the series as to which this
registration statement is being filed do not differ materially in type
or quality from those deposited in such previous series;

2) That, except to the extent necessary to identify the specific portfolio
securities deposited in, and to provide essential information for, the
series with respect to which this registration statement is being filed,
this registration statement does not contain disclosures that differ in
any material respect from those contained in the registration statements
for such previous series as to which the effective date was determined
by the Commission or the staff; and

3) That it has complied with Rule 460 under the Securities Act of 1933.

PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THE REGISTRANT HAS
DULY CAUSED THIS REGISTRATION STATEMENT OR AMENDMENT TO THE REGISTRATION
STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY
AUTHORIZED IN THE CITY OF NEW YORK AND STATE OF NEW YORK ON THE 20TH DAY OF JULY
1999.

SIGNATURES APPEAR ON PAGES R-3, R-4 AND R-5.

A majority of the members of the Board of Directors of Merrill Lynch,
Pierce, Fenner & Smith Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.

A majority of the members of the Executive Committee of the Board of
Directors of PaineWebber Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.

A majority of the members of the Board of Directors of Dean Witter Reynolds
Inc. has signed this Registration Statement or Amendment to the Registration
Statement pursuant to Powers of Attorney authorizing the person signing this
Registration Statement or Amendment to the Registration Statement to do so on
behalf of such members.

R-2
<PAGE>
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEPOSITOR

By the following persons, who constitute Powers of Attorney have been filed
a majority of under
the Board of Directors of Merrill Form SE and the following 1933 Act
Lynch, Pierce, File
Fenner & Smith Incorporated: Number: 333-70593

GEORGE A. SCHIEREN
JOHN L. STEFFENS
J. DAVID MEGLEN
(As authorized signatory for Merrill Lynch, Pierce,
Fenner & Smith Incorporated and
Attorney-in-fact for the persons listed above)

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<PAGE>
PAINEWEBBER INCORPORATED
DEPOSITOR

By the following persons, who constitute Powers of Attorney have been filed
the Board of Directors of PaineWebber under
Incorporated: the following 1933 Act File
Number: 2-61279

MARGO N. ALEXANDER
TERRY L. ATKINSON
BRIAN M. BAREFOOT
STEVEN P. BAUM
MICHAEL CULP
REGINA A. DOLAN
JOSEPH J. GRANO, JR.
EDWARD M. KERSCHNER
JAMES P. MacGILVRAY
DONALD B. MARRON
ROBERT H. SILVER
MARK B. SUTTON
By
ROBERT E. HOLLEY
(As authorized signatory for
PaineWebber Incorporated
and Attorney-in-fact for the persons listed above)

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<PAGE>
DEAN WITTER REYNOLDS INC.
DEPOSITOR

By the following persons, who constitute Powers of Attorney have been filed
a majority of under Form SE and the following 1933
the Board of Directors of Dean Witter Act File Numbers: 33-17085,
Reynolds Inc.: 333-13039 and 333-47553

RICHARD M. DeMARTINI
RAYMOND J. DROP
JAMES F. HIGGINS
MITCHELL M. MERIN
STEPHEN R. MILLER
PHILIP J. PURCELL
THOMAS C. SCHNEIDER
By
MICHAEL D. BROWNE
(As authorized signatory for
Dean Witter Reynolds Inc.
and Attorney-in-fact for the persons listed above)

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<PAGE>
EXHIBIT 3.1
DAVIS POLK & WARDWELL
450 LEXINGTON AVENUE
NEW YORK, NEW YORK 10017
(212) 450-4000
JULY 20, 1999
EQUITY INVESTOR FUND,
SELECT LARGE-CAP GROWTH PORTFOLIO 2
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEAN WITTER REYNOLDS INC.
PAINEWEBBER INCORPORATED
C/O MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEFINED ASSET FUNDS
P.O. BOX 9051
PRINCETON, N.J. 08543-9051
(609) 282-8500
Dear Sirs:

We have acted as special counsel for you, as sponsors (the 'Sponsors') of
Equity Investor Fund, Select Large-Cap Growth Portfolio 2, Defined Asset Funds
(the 'Fund'), in connection with the issuance of units of fractional undivided
interest in the Fund (the 'Units') in accordance with the Trust Indenture
relating to the Fund (the 'Indenture').

We have examined and are familiar with originals or copies, certified or
otherwise identified to our satisfaction, of such documents and instruments as
we have deemed necessary or advisable for the purpose of this opinion.

Based upon the foregoing, we are of the opinion that (i) the execution and
delivery of the Indenture and the issuance of the Units have been duly
authorized by the Sponsors and (ii) the Units, when duly issued and delivered by
the Sponsors and the Trustee in accordance with the Indenture, will be legally
issued, fully paid and non-assessable.

We hereby consent to the use of this opinion as Exhibit 3.1 to the
Registration Statement relating to the Units filed under the Securities Act of
1933 and to the use of our name in such Registration Statement and in the
related prospectus under the heading 'How The Fund Works--Legal Opinion.'

Very truly yours,

DAVIS POLK & WARDWELL

<PAGE>
EXHIBIT 5.1
CONSENT OF INDEPENDENT ACCOUNTANTS
The Sponsors and Trustee of Equity Investor Fund, Select Large-Cap Growth
Portfolio 2,
Defined Asset Funds:

We consent to the use in this Registration Statement No. 333-80631 of our report
dated July 20, 1999, relating to the Statement of Condition of Equity Investor
Fund, Select Large-Cap Growth Portfolio 2, Defined Asset Funds and to the
reference to us under the heading 'How The Fund Works--Auditors' in the
Prospectus which is a part of this Registration Statement.

DELOITTE & TOUCHE LLP
New York, N.Y.
July 20, 1999