EQUITY INVESTOR FUND CONC SER EARN GRO CONSI PORT DEF AS FND
487, 2000-03-03
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<PAGE>

      AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 3, 2000



                                                      REGISTRATION NO. 333-90151

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

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549
                     -------------------------------------


                                AMENDMENT NO. 2

                                       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
                                 CONCEPT SERIES

                     EARNINGS GROWTH CONSISTENCY PORTFOLIO

                              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

<TABLE>
<S>                        <C>                        <C>
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
</TABLE>

D. NAMES AND COMPLETE ADDRESSES OF AGENTS FOR SERVICE:

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

<TABLE>
<S>                        <C>                        <C>
                                  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
</TABLE>

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 will become
effective upon filing on March 3, 2000, pursuant to Rule 487.


- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>

                           DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
                           ----------------------------------------------------


                           EQUITY INVESTOR FUND
                           CONCEPT SERIES
                           EARNINGS GROWTH CONSISTENCY
                           PORTFOLIO
                           (A UNIT INVESTMENT TRUST)
                           -  CAPITAL APPRECIATION
                           -  OPTIONAL REINVESTMENT CASH DISTRIBUTIONS

SPONSOR:
MERRILL LYNCH,             -----------------------------------------------------
PIERCE, FENNER & SMITH     The Securities and Exchange Commission has not
INCORPORATED               approved or disapproved these Securities or passed
PAINEWEBBER INCORPORATED   upon the adequacy of this prospectus. Any
DEAN WITTER REYNOLDS       representation to the contrary is a criminal offense.
I+NC.                      Prospectus dated March 3, 2000.

<PAGE>
- --------------------------------------------------------------------------------

Defined Asset Funds--Registered Trademark--

Defined Asset Funds-Registered Trademark- 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:
  - A disciplined strategy of buying and holding with a long-term view is the
    cornerstone of Defined Asset Funds.
  - Fixed portfolio: Defined Funds follow a buy and hold investment strategy;
    funds are not managed and portfolio changes are limited.
  - Defined Portfolios: We choose the stocks and bonds in advance, so you know
    what you're investing in.
  - Professional research: Our dedicated research team seeks out stocks or bonds
    appropriate for a particular fund's objectives.
  - 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.


<TABLE>
<S>                                    <C>
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
  Concentration Risk.................    6
  Litigation and Legislation Risks...    6
Selling or Exchanging Units..........    6
  Sponsors' Secondary Market.........    7
  Selling Units to the Trustee.......    7
  Rollover/Exchange Option...........    8
How The Fund Works...................    8
  Pricing............................    8
  Evaluations........................    9
  Income.............................    9
  Expenses...........................    9
  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
  Advertising and Sales Literature...   13
Taxes................................   14
Supplemental Information.............   16
Financial Statements.................   17
  Report of Independent Accountants..   17
  Statement of Condition.............   17
</TABLE>


                                       2
<PAGE>
- --------------------------------------------------------------------------------

RISK/RETURN SUMMARY


<TABLE>
<C>  <S>
 1.  WHAT IS THE PORTFOLIO'S OBJECTIVE?

     The Portfolio seeks capital appreciation
     by investing in a fixed portfolio of
     global common stocks.

     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
     income and principal distributions, if
     any.

 2.  WHAT IS THE PORTFOLIO'S INVESTMENT
     STRATEGY?

  -  The Portfolio contains 19 global stocks
     with records of consistent sales and
     earnings growth over the last ten years.
     The stocks were selected by the Agent
     for the Sponsors from a proprietary
     database after passing the following
     screens.

     Each candidate must have:

     -- increased sales and earnings for at
     least 9 of the last 10 years;

     -- average annual earnings growth of at
       least 15% over the last 10 years;

     -- projected earnings growth of 15% for
     this year and next year based on First
       Call earnings consensus; and

     -- a minimum market capitalization of
     $500 million.

     The candidates that passed these screens
     were then evaluated for country risk,
     research opinions and pending
     developments.
  -  Our goal is to produce a diversified
     portfolio of companies that:

     -- have established growth records;

     -- are well managed, efficient operators
     in their industry sectors;

     -- have demonstrated the ability to
     survive and grow through down cycles;
       and

     -- are less likely to have negative
     earnings surpluses during the life of
       the fund.

     The Portfolio plans to hold the stocks
     in the Portfolio for about two years. At
     the end of approximately two years, we
     will liquidate the Portfolio and apply a
     similar Strategy to select a new
     portfolio, if available.
</TABLE>



<TABLE>
<C>  <S>
 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:
</TABLE>



<TABLE>
  -  Retail                                26%
  -  Memory Devices/Circuits              15
  -  Drugs/Medical Products               13
<C>  <S>
  -  Networking Products                   9
  -  Electronic Components                8
  -  Financial Services                      6
  -  Restaurants                            6
  -  Computers-Integrated Systems          5
  -  Power Supply Equipment              5
  -  Software                               4
  -  Linen Supplies                         3
</TABLE>



<TABLE>
<C>  <S>
 4.  WHAT ARE THE SIGNIFICANT RISKS?

     YOU CAN LOSE MONEY BY INVESTING IN THE
     PORTFOLIO. THIS CAN HAPPEN FOR VARIOUS
     REASONS, INCLUDING:

  -  Stock prices can be volatile.

  -  Share prices may decline during the life
     of the Portfolio.

  -  Because the Portfolio is concentrated in
     the retail industry, adverse
     developments in this industry may affect
     the value of your units.

  -  The Portfolio may continue to purchase
     or hold the stocks originally selected
     even though their market value or yield
     may have changed. The Portfolio does not
     reflect any investment recommendations
     of the Sponsors, and any one or more of
     the stocks in the Portfolio may be
     subject to sell recommendations from one
     or more of the Sponsors.
</TABLE>


                                       3
<PAGE>
- --------------------------------------------------------------------------------
                               Defined Portfolio
- -------------------------------------------------------------------

Equity Investor Fund

Concept Series Earnings Growth Consistency Portfolio

Defined Asset Funds

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


<TABLE>
 1. American Power Conversion
   Corporation                           APCC               5.61%        $31.6563       $ 16,777.81
<S>                                  <C>              <C>                <C>          <C>
 2. Brinker International, Inc.           EAT               5.79          21.9375         17,330.63
 3. Cintas Corporation*                  CTAS               2.98          40.5625          8,923.75
 4. Cisco Systems, Inc.                  CSCO               8.87         132.7500         26,550.00
 5. Concord EFS, Inc.                    CEFT               4.36          18.3750         13,046.25
 6. Dollar General Corporation*           DG                4.30          20.7500         12,865.00
 7. EMC Corporation                       EMC               8.18         116.6250         24,491.25
 8. Fastenal Company*                    FAST               4.69          42.5000         14,025.00
 9. The Gap, Inc.*                        GPS               6.36          44.2500         19,027.50
10. The Home Depot, Inc.*                 HD                6.78          54.8750         20,303.75
11. Linear Technology Corporation*       LLTC               6.70          95.5000         20,055.00
12. MICROS Systems, Inc.                 MCRS               5.36          53.4375         16,031.25
13. Microsoft Corporation                MSFT               3.74          93.3750         11,205.00
14. Safeway, Inc.                         SWY               3.52          36.3125         10,530.63
15. Schering-Plough Corporation*          SGP               4.67          34.9375         13,975.00
16. The Charles Schwab Corporation*       SCH               1.36          45.1250          4,061.25
17. Solectron Corporation                 SLR               7.90          69.5000         23,630.00
18. Stryker Corporation*                  SYK               5.22          57.8125         15,609.38
19. Techne Corporation                   TECH               3.61          83.1563         10,810.31
                                                          ------                        -----------
                                                          100.00%                       $299,248.76
                                                          ======                        ===========
</TABLE>


- ----------------------------
(1) Based on Cost to Portfolio.

(2) Valuation by the Trustee made on the basis of closing sale prices at the
    evaluation time on March 2, 2000, the business day prior to the initial date
    of deposit. The value of the Securities on any subsequent business day will
    vary.


 * These stocks currently pay dividends.

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

The securities were acquired on March 2, 2000 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>
- --------------------------------------------------------------------------------

RISK/RETURN SUMMARY (CONTINUED)


<TABLE>
<C>  <S>
 5.  IS THIS PORTFOLIO APPROPRIATE FOR YOU?

     Yes, if you want capital appreciation.
     You will benefit from a professionally
     selected and supervised portfolio whose
     risk is reduced by investing in equity
     securities of different issuers.
     The Portfolio is NOT appropriate for you
     if you are not comfortable with the
     Strategy or are unwilling to take the
     risk involved with an equity investment.
     It may not be appropriate for you if you
     are seeking preservation of capital or
     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.
</TABLE>



<TABLE>
                                           .091  %         $0.90
     Trustee's Fee
                                           .071  %         $0.70
     Portfolio Supervision,
     Bookkeeping and
     Administrative Fees   (including
     updating
     expenses)
<CAPTION>
     ESTIMATED ANNUAL OPERATING EXPENSES
                                          AS A % OF        AMOUNT
                                             NET         PER 1,000
                                           ASSETS          UNITS
                                          ---------      ---------
<C>  <S>                                  <C>            <C>
                                           .250  %         $2.48
     Creation and Development Fee
                                           .041  %         $0.40
     Other Operating Expenses
                                          -------          -----
                                           .453  %         $4.48
     TOTAL
</TABLE>



<TABLE>
<C>  <S>                                        <C>
     ORGANIZATION COSTS per 1,000 units                $2.74
     (deducted from Portfolio assets at
     the close of the initial offering
     period)
</TABLE>



<TABLE>
<C>  <S>
     The Creation and Development Fee (estimated at
     $0.00248 per unit) is an annual charge that
     compensates the Sponsors for the creation and
     development of the Portfolio and is computed
     based on the Portfolio's average daily net
     asset value through the date of collection.
     This fee historically had been included in the
     sales fee.
</TABLE>



<TABLE>
<C>  <S>                                   <C>
     INVESTOR FEES

                                             4.00%
     Maximum Sales Fee (Load) on new
     purchases (as a percentage of $1,000
     invested)
</TABLE>



<TABLE>
<C>  <S>
     You will pay an up-front sales fee of
     approximately 1.00%. In addition, six monthly
     deferred sales charges of $2.50 per 1,000 units
     ($15.00 annually) will be deducted from the
     Portfolio's net asset value each year of the
     Portfolio's two-year life (September 1, 2000,
     through February 1, 2001, and March 1, 2001
     through August 1, 2001).
</TABLE>


<TABLE>
<C>  <S>
     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:
</TABLE>


<TABLE>
<S>  <C>     <C>      <C>      <C>
     1 Year  3 Years  5 Years  10 Years
      $326    $768    $1,236    $2,512
</TABLE>



<TABLE>
<C>  <S>
     The aggregate fees and expenses will not
     exceed the applicable NASD limit which
     is 6.25% of the public offering price.
</TABLE>


                                       4
<PAGE>


<TABLE>
<C>  <S>
 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?

     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.

     The minimum investment is $250.

     UNIT PRICE PER 1,000 UNITS       $999.87
     (as of March 2, 2000)

     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 of $2.74
     per 1,000 Units, 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 July and November, 2000 and July
     and November, 2001 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. Foreign investors shares
     of dividends will generally be subject
     to withholding taxes.

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.
</TABLE>


                                       5
<PAGE>
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT

INCOME


The Portfolio will pay to you any income it has received four 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:

  - changes in the Portfolio because of additional securities purchases or
    sales;
  - a change in the Portfolio's expenses; and
  - 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:
- - a notice from the Trustee if new equity securities are deposited in exchange
  or substitution for equity securities originally deposited;
- - annual reports on Portfolio activity; and
- - 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 ADVISOR 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

CONCENTRATION RISK

When stocks in a particular industry make up 25% or more of the Portfolio, it is
said to be "concentrated" in that industry, which makes the Portfolio less
diversified.


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:
  - reducing the dividends-received deduction or
  - increasing the corporate tax rate resulting in less money available for
    dividend payments.

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:
  - ADDING the value of the Portfolio Securities, cash and any other Portfolio
    assets;
  - 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
  - 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

                                       6
<PAGE>
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 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:
  - if the New York Stock Exchange is closed (other than customary weekend and
    holiday closings);
  - if the SEC determines that trading on the New York Stock Exchange is

                                       7
<PAGE>
    restricted or that an emergency exists making sale or evaluation of the
    securities not reasonably practicable; and
  - 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 Healthcare Portfolio if one is available.


If you hold your Units with one of the Sponsors and notify your financial
adviser by February 28, 2002, 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 Healthcare
Portfolio. 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 April 3, 2002.


If you continue to hold your units, you may exchange units of this Portfolio any
time before this Portfolio terminates for units of certain other Defined Asset
Funds at a reduced sales fee if your investment goals change. In addition, you
may exchange into this Portfolio from certain other Defined Asset Funds. 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:
  - cost of initial preparation of legal documents;
  - federal and state registration fees;
  - initial fees and expenses of the Trustee;
  - initial audit; and
  - 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 $2.50 per 1,000 units
and is accrued in six monthly installments each year of the Portfolio's life.
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.
If you redeem or sell your units before March 1, 2001, you will pay only the


                                       8
<PAGE>

balance of any deferred sales fee remaining for the first year. If you redeem or
sell your units on or after March 1, 2001 you will pay the remaining balance of
the deferred sales fee for the second year. 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
- - 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 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.
- - 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:
  - for extraordinary services and costs of indemnifying the Trustee and the
    Sponsors;
  - costs of actions taken to protect the Portfolio and other legal fees and
    expenses;
  - expenses for keeping the Portfolio's registration statement current; and
  - Portfolio termination expenses and any governmental charges.

Legal, typesetting, electronic filing and regulatory filing fees and expenses
associated with updating the Portfolio's

                                       9
<PAGE>
registration statement yearly are also now chargeable to the Portfolio; the
Sponsors historically paid these amounts.

The Sponsors are currently reimbursed up to 70 CENTS per 1,000 units annually
for providing portfolio supervisory, bookkeeping and administrative services and
for any other expenses properly chargeable to the Portfolio. Legal, typesetting,
electronic filing and regulatory filing fees and expenses associated with
updating the Portfolio's registration statement yearly are also now 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 Sponsors will receive an annual Creation and Development Fee of .25% of the
Portfolio's average daily net asset value through the date of collection. This
fee, which has historically been included in the gross sales fee, compensates
the Sponsors for the creation and development of the Portfolio's objective and
policies and portfolio composition and size, selection of service providers and
information services. No portion of the Creation and Development Fee is applied
to the payment of distribution expenses or as compensation for sales efforts.


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


The maximum sales fee is 4.00%. If you hold units in certain eligible accounts
offered by the Sponsors, you will pay no sales fee. Employees and non-emplyee
directors of the Sponsors may be charged a reduced sales fee of no less than
$5.00 per 1,000 Units. If your aggregate sales fee is less than the deferred
sales fee, you will be given additional units which will decrease the effective
maximum sales fee to the amount shown below.



The maximum sales fee is effectively reduced if you invest as follows:



<TABLE>
<CAPTION>
                                  YOUR MAXIMUM
                                   SALES FEE
          IF YOU INVEST:            WILL BE:
          --------------          ------------
<C>  <S>                       <C>
     Less than $50,000                4.00%
     $ 50,000 to $99,999              3.75%
     $100,000 to $249,999             3.25%
     $250,000 to $999,999             3.00%
     $1,000,000 or more               2.50%
</TABLE>


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:
  - diversity of the Portfolio;

                                       10
<PAGE>
  - size of the Portfolio relative to its original size;
  - ratio of Portfolio expenses to income; and
  - cost of maintaining a current prospectus.


If a Portfolio is buying or selling a stock actively traded on a national
securities exchange or certain foreign exchanges, it may buy from or sell to
another Defined Asset Fund at the stock's closing sale price (without any
brokerage commissions).


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:
  - to cure ambiguities;
  - to correct or supplement any defective or inconsistent provision;
  - to make any amendment required by any governmental agency; or
  - 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:
  - it fails to perform its duties;
  - it becomes incapable of acting or bankrupt or its affairs are taken over by
    public authorities; or
  - 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

                                       11
<PAGE>
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:
  - remove it and appoint a replacement Sponsor;
  - liquidate the Portfolio; or
  - 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 Chase Manhattan Bank, Unit Trust Department, 4 New York Plaza--6th Floor,
New York, NY 10004 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. Sponsors also realize a
profit or loss on deposit of the securities shown

                                       12
<PAGE>
under Defined Portfolio. 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.


The Sponsors will receive an annual Creation and Development Fee of .25% of the
Portfolio's average daily net asset value through the date of collection. This
annual fee, which has historically been included in the gross sales fee,
compensates the Sponsors for the creation and development of the Portfolio's
objective and policies and portfolio composition and size, selection of service
providers and information services. No portion of the Creation and Development
Fee is applied to the payment of distribution expenses or as compensation for
sales efforts.



During the initial offering period, the Sponsor may realize profits or sustain
losses on units they hold due to fluctuations in the price per unit. The
Sponsors experienced a loss of $190.50 on the initial deposit of the Securities.
Any profit or loss to the Portfolio will be effected by the receipt of
applicable sales fees 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 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. On Units held in the second year, the dealer
will be entitled to an additional concession of $11 per 1,000 Units ($5 per
1,000 Units for purchases of $1 million or more).

<TABLE>
<CAPTION>
                                              DEALER CONCESSION
                                                      AS
                                                A % OF PUBLIC
                        AMOUNT PURCHASED        OFFERING PRICE
                        ----------------      -----------------
<S>                    <C>                  <C>
                       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%
</TABLE>

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.

ADVERTISING AND SALES LITERATURE


Advertising and sales literature may include brief descriptions of the principal
businesses of the companies represented in the


                                       13
<PAGE>

Portfolio, including major drugs offered and research and development spending.



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 discipline; 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.



Advertising and sales literature may state past total return performance of the
Portfolio for various periods. Returns are computed by taking price changes for
the period plus dividends reinvested, divided by the initial public offering
price, and reflecting deduction of maximum Portfolio sales charges and expenses.
For periods of more than a year, average annualized returns shall be stated,
which may be accompanied with no greater prominence by a statement of cumulative
total returns. Returns without reflecting deduction of sales charges or only of
deferred sales charges may also be stated with no greater prominence than total
returns reflecting deduction of all sales charges when the different basis of
computation is disclosed.


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.



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), when you exchange your units for units of another
Defined Asset Fund, 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


                                       14
<PAGE>

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 recognize
gain or loss only with respect to your share of those securities that are not
rolled over into the new portfolio. You will not recognize gain or loss with
respect to your share of those securities that are rolled over and your basis in
those securities will remain the same as before the rollover.



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 your units 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 were 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 or by any portion of
the Creation and Development Fee. 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 have been deducted. 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.



EXPENSES



If you are an individual who itemizes deductions, you may deduct your share of
Portfolio expenses (including the applicable portion of the Creation and
Development Fee), 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 $128,950
($64,475 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 at a rate of 30%
(or a lower applicable treaty rate) on your share of dividends received by the
Portfolio. You should consult your tax adviser about the possible


                                       15
<PAGE>

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.

                                       16
<PAGE>
                       REPORT OF INDEPENDENT ACCOUNTANTS


The Sponsors, Trustee and Holders of Equity Investor Fund, Concept Series
Earnings Growth Consistency Portfolio, 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 March 3, 2000. 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 March 3,
2000 in conformity with generally accepted accounting principles.



DELOITTE & TOUCHE LLP
New York, NY
March 3, 2000



                   STATEMENT OF CONDITION AS OF MARCH 3, 2000


TRUST PROPERTY


<TABLE>
<S>                                                        <C>
Investments--Contracts to purchase Securities(1).........  $         299,248.76
                                                           --------------------
        Total............................................  $         299,248.76
                                                           ====================
LIABILITY AND INTEREST OF HOLDERS
    Reimbursement of Sponsors for organization
     expenses(2).........................................  $             828.22
                                                           --------------------
    Subtotal                                                             828.22
                                                           --------------------
Interest of Holders of 302,271 Units of fractional
  undivided interest outstanding:(3)
  Cost to investors(4)...................................  $         302,231.70
  Gross underwriting commissions and organization
    expenses(5)(2).......................................             (3,811.16)
                                                           --------------------
    Subtotal                                                         298,420.54
                                                           --------------------
        Total............................................  $         299,248.76
                                                           ====================
</TABLE>


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


        (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 March
2, 2000. The contracts to purchase securities are collateralized by an
irrevocable letter of credit which has been issued by DG Bank, New York Branch,
in the amount of $299,439.26 and deposited with the Trustee. The amount of the
letter of credit includes $299,248.76 for the purchase of securities.


        (2) A portion of the Unit 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 $2.74 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 expense obligation
of the investors will be satisfied. If the actual organizational costs exceed
the estimated aggregate amount shown above, the Sponsors will pay for this
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 $999.87 per 1,000 Units offering price only for that
day. The Unit 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 March 2, 2000.


        (5) Assumes the maximum initial sales charge per 1,000 units of 1.00% of
the Unit Price. A deferred sales charge of $2.50 per 1,000 Units is payable on
September 1, 2000 and thereafter on the 1st day of each month through February
1, 2001; and monthly March 1, 2001 through August 1, 2001. 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.


                                       17
<PAGE>
              Defined
            Asset Funds

- -SM-


<TABLE>
<S>                                      <C>
HAVE QUESTIONS ?                         EQUITY INVESTOR FUND
Request the most                         CONCEPT SERIES
recent free Information                  EARNINGS GROWTH CONSISTENCY PORTFOLIO
Supplement that gives more               (A Unit Investment Trust)
details about the Fund,                  ---------------------------------------
by calling:                              This Prospectus does not contain
The Chase Manhattan Bank                 complete information about the
1-800-323-1508                           investment company filed with the
                                         Securities and Exchange Commission in
                                         Washington, D.C. under the:
                                         - Securities Act of 1933 (file no.
                                         333-91855) and
                                         - 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.
                                                                  100639RR--3/00
</TABLE>

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

<TABLE>
<S>                                                                     <C>                   <C>
       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.
</TABLE>

 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:

<TABLE>
<S>                                                                     <C>                   <C>
          Merrill Lynch, Pierce, Fenner & Smith Incorporated..........         8-7221
          PaineWebber Incorporated....................................        8-16267
          Dean Witter Reynolds Inc. ..................................        8-14172
</TABLE>

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

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


<TABLE>
<S>                                                                     <C>                   <C>
          Merrill Lynch, Pierce, Fenner & Smith Incorporated..........       13-5674085
          PaineWebber Incorporated....................................       13-2638166
          Dean Witter Reynolds Inc. ..................................       94-0899825
          The Chase Manhattan Bank, Trustee...........................       13-4994650
</TABLE>



                                  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



<TABLE>
<CAPTION>
                                                                      SEC
SERIES NUMBER                                                     FILE NUMBER
- -------------                                                     -----------
<S>                                                           <C>
"MERIT" 1987 Series (The Merrill Equity Research Investment
Trust)......................................................        33-10989
Concept Series Environmental Technology Trust...............        33-26511
Select Series Institutional Holdings Portfolio Series B.....       333-81879
</TABLE>



                       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:


<TABLE>
      <S>              <C>
      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 Income Fund, Select
                         Ten Portfolio 1999 International Series A (United Kingdom Port-
                         folio), 1933 Act File No. 33-70593).
</TABLE>


                                      R-1
<PAGE>



                                   SIGNATURES

    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 3RD DAY OF
MARCH, 2000.



                 SIGNATURES APPEAR ON PAGE R-3 AND R-4 AND R-5.


                  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

<TABLE>
<S>                                       <C>
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
</TABLE>

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

                                      R-3
<PAGE>
                            PAINEWEBBER INCORPORATED
                                   DEPOSITOR

<TABLE>
<S>                                       <C>
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
</TABLE>

     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)

                                      R-4
<PAGE>
                           DEAN WITTER REYNOLDS INC.
                                   DEPOSITOR

<TABLE>
<S>                                       <C>
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, 333-47553 and 333-89005
</TABLE>

     BRUCE F. ALONSO
     RICHARD M. DeMARTINI
     RAYMOND J. DROP
     JAMES F. HIGGINS
     JOHN J. MACK
     MITCHELL M. MERIN
     STEPHEN R. MILLER
     PHILIP J. PURCELL
     JOHN H. SCHAEFER
     THOMAS C. SCHNEIDER
     ALAN A. SCHRODER
     ROBERT G. SCOTT
     By MICHAEL D. BROWNE
       (As authorized signatory for
       Dean Witter Reynolds Inc.
       and Attorney-in-fact for the persons listed above)

                                      R-5

<PAGE>
                                                                     EXHIBIT 3.1
                             DAVIS POLK & WARDWELL
                              450 LEXINGTON AVENUE
                            NEW YORK, NEW YORK 10017
                                 (212) 450-4000


                                                                   MARCH 3, 2000



EQUITY INVESTOR FUND,
CONCEPT SERIES,
EARNINGS GROWTH CONSISTENCY PORTFOLIO

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, Concept Series Earnings Growth Consistency Portfolio,
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, Concept Series Earnings Growth
Consistency Portfolio, Defined Asset Funds:



We consent to the use in this Registration Statement No. 333-90151 of our report
dated March 3, 2000, relating to the Statement of Condition of Equity Investor
Fund, Concept Series Earnings Growth Consistency Portfolio, 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, NY
March 3, 2000


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