<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 333-17217
NOTICE OF SUBSTITUTION AND
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION FOR
EQ ADVISORS TRUST DATED MAY 1, 2000
--------------------------------------------------------------------------------
This Supplement updates the above-dated Prospectus and Statement of Additional
Information ("SAI") of EQ Advisors Trust.
The Securities and Exchange Commission is expected to issue an order approving
the substitution of shares issued by the Alliance Equity Index Portfolio for
shares issued by the BT Equity 500 Index Portfolio ("Substitution"). The
Alliance Equity Index Portfolio, which will be renamed the EQ Equity 500 Index
Portfolio, has investment objectives, investment strategies and anticipated
risks that are substantially similar in all material respects to those of the BT
Equity 500 Index Portfolio. Unless you receive notice otherwise, the
Substitution will be effected on or about October 6, 2000, by redeeming in-kind
shares of the BT Equity 500 Index Portfolio, at their net asset value, and then
using the proceeds of that redemption to purchase shares of the EQ Equity 500
Index Portfolio, at their net asset value. No action is required on your part.
The Equitable Life Assurance Society of the United States, as the Investment
Manager of the Trust, will bear all expenses relating to the Substitution.
As a result of the Substitution, effective October 6, 2000, all references to
the BT Equity 500 Index Portfolio and the Alliance Equity Index Portfolio will
be changed to the "EQ Equity 500 Index Portfolio" throughout the Prospectus and
SAI.
In addition, the following information replaces the information with respect to
the "BT Equity 500 Index Portfolio" in the sections of the EQ Advisors Trust
Prospectus entitled "Summary Information Concerning EQ Advisors Trust," "About
the Investment Portfolios" and "Management of the Trust" in the Trust
Prospectus:
EQ EQUITY INDEX 500 PORTFOLIO
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PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL RISKS
--------------------------------------------------------------------------------
Securities in the S&P 500 Index, General investment, index-fund,
derivatives, and securities lending derivatives, leveraging, and securities
lending risks
--------------------------------------------------------------------------------
INVESTMENT OBJECTIVE: Seeks a total return before expenses that approximates the
total return performance of the S&P 500 Index, including reinvestment of
dividends, at a risk level consistent with that of the S&P 500 Index.
THE INVESTMENT STRATEGY
The Adviser will not utilize customary economic, financial or market analyses or
other traditional investment techniques in managing the Portfolio. Rather, the
Adviser will
<PAGE>
use proprietary modeling techniques to construct a portfolio that it believes
will, in the aggregate, approximate the performance results of the S&P 500
Index.
The Adviser will first select from the largest capitalization securities in the
S&P 500 on a capitalization-weighted basis. Generally, the largest
capitalization securities reasonably track the S&P 500 because the S&P 500 is
significantly influenced by a small number of securities. However, in the
Adviser's view, selecting securities on the basis of their capitalization alone
would distort the Portfolio's industry diversification, and therefore economic
events could potentially have a dramatically different impact on the performance
of the Portfolio from that of the S&P 500. Recognizing this fact, the modeling
techniques also consider industry diversification when selecting investments for
the Portfolio. The Adviser also seeks to diversify the Portfolio's assets with
respect to market capitalization. As a result, the Portfolio will include
securities of smaller and medium-sized capitalization companies in the S&P 500.
Cash may be accumulated in the Portfolio until it reaches approximately 1% of
the value of the Portfolio at which time such cash will be invested in common
stocks as described above. Accumulation of cash increases tracking error. The
Portfolio will, however, remain substantially fully invested in common stocks
even when common stock prices are generally failing. Similarly, adverse
performance of a stock will ordinarily not result in its elimination from the
Portfolio.
In order to reduce brokerage costs, maintain liquidity to meet shareholder
redemptions or minimize tracking error when the Portfolio holds cash, the
Portfolio may from time to time buy and hold futures contracts on the S&P 500
Index and options on such futures contracts. The contract value of futures
contracts underlying call options purchased by the Portfolio will not exceed 20%
of the Portfolio's total assets. The Portfolio may seek to increase income by
lending its portfolio securities with a value of up to 50% of its total assets
to brokers-dealers.
THE PRINCIPAL RISKS
This Portfolio invests in common stocks, therefore, its performance may go up
and down depending on general market conditions. Other principal risks include:
INDEX-FUND RISK: The Portfolio is not actively managed and invests in securities
included in the index regardless of their investment merit. Therefore, the
Portfolio cannot modify its investment strategies to respond to changes in the
economy and may be particularly susceptible to a general decline in the U.S. or
global stock market segment relating to the index. Although the Portfolio's
modeling techniques are intended to produce performance that approximates that
of the S&P 500 (before expenses), there can be no assurance that these
techniques will reduce "tracking error" (i.e., the difference between the
Portfolio's investment results (before expenses) as the S&P 500's). Tracking
error may arise as a result of brokerage costs, fees and operating expenses and
a lack of correlation between the Portfolio's investments and the S&P 500.
DERIVATIVES RISK: The Portfolio's investments in derivatives can significantly
increase the Portfolio's exposure to market risk or credit risk of the
counterparty. Derivatives
<PAGE>
also involve the risk of mispricing or improper valuation and the risk that
changes in value of the derivative may not correlate perfectly with the relevant
assets, rates and indices.
SECURITIES LENDING RISK: The Portfolio may make secured loans of its portfolio
securities. The risks in lending portfolio securities, as with other extensions
of secured credit, consist of possible delay in receiving additional collateral,
or in the recovery of the securities or possible loss of rights in the
collateral should the borrower fail financially.
LEVERAGING RISK: When the Portfolio borrows money or otherwise leverages its
portfolio, the value of an investment in the Portfolio will be more volatile and
all other risk will tend to be compounded.
PORTFOLIO PERFORMANCE
The bar chart below illustrates the Portfolio's annual total returns for each of
the last five calendar years and some of the risks of investing in the Portfolio
by showing yearly changes in the Portfolio's performance. The table below shows
the Portfolio's average annual total returns for the past one year, five years
and since inception and compares the Portfolio's performance to (i) the returns
of a broad-based index and (ii) the returns of an index of funds with similar
investment objectives. Past performance is not an indication of future
performance.
The Portfolio's performance shown below is principally the performance of its
predecessor registered investment company (HRT/Alliance Equity Index Portfolio)
managed by the Adviser using the same investment objectives and strategy as the
Portfolio. For these purposes, the Portfolio is considered to be the successor
entity to the predecessor registered investment company (HRT/Alliance Equity
Index Portfolio) whose inception date is March 1, 1994. The assets of the
predecessor were transferred to the Portfolio on October 18, 1999. Following
that transfer, the performance shown (for the period October 19, 1999 through
December 31, 1999) is that of the Portfolio. For these purposes, the performance
results of the Portfolio and its predecessor registered investment company have
been linked.
Both the bar chart and table assume reinvestment of dividends and distributors.
The performance results do not reflect any insurance and Contract-related fees
and expenses, which would reduce the performance results.
<PAGE>
--------------------------------------------------------------------------------
CALENDAR YEAR ANNUAL TOTAL RETURN - CLASS IB SHARES
--------------------------------------------------------------------------------
36.2 22.1% 32.3% 27.7% 20.08%
--------------------------------------------------------------------------------
1995 1996 1997 1998 1999
Best quarter (% and time period) Worst quarter (% and time period)
21.05% (1998 4th Quarter) (10.02)% (1998 3rd Quarter)
--------------------------------------------------------------------------------
AVERAGE ANNUAL TOTAL RETURNS*
--------------------------------------------------------------------------------
SINCE
ONE YEAR FIVE YEAR INCEPTION
--------------------------------------------------------------------------------
EQ Equity Index 500 Portfolio
--- Class IA Shares 20.38% 27.84% 23.63%
--------------------------------------------------------------------------------
EQ Equity Index 500 Portfolio
--- Class IB Shares 20.08% 27.61% 23.43%
--------------------------------------------------------------------------------
S&P 500 Index** 21.03% 28.56% 24.14%
--------------------------------------------------------------------------------
Lipper S&P Index Funds Average 20.48% 28.07% 25.07%
--------------------------------------------------------------------------------
* For periods prior to the inception of Class IB Shares (May 2, 1997),
performance information shown is the performance of Class IA Shares adjusted to
reflect the 12b-1 fees paid by Class IB Shares.
** For more information on this index, see the section in the Prospectus
entitled "The Benchmarks."
WHO MANAGERS THE PORTFOLIO
ALLIANCE CAPITAL MANAGEMENT, L.P. ("Alliance"), 1345 Avenue of the Americas, New
York, New York 10105. Alliance has been the Adviser to the Portfolio and its
predecessor registered investment company since the predecessor commenced
operations. Alliance, a publicly traded limited partnership, is indirectly
majority-owned by Equitable. Alliance manages investments companies, endowment
funds, insurance companies, foreign entities, qualified and non-tax qualified
corporate funds, public and private pension and profit-sharing plans, foundation
and tax-exempt organizations.
JUDITH A. DEVIVO has been responsible for the day-to-day management of the
Portfolio and its predecessor since its inception. Ms. DeVivo, a Vice President
of Alliance, has been associated with Alliance since 1970.
<PAGE>
EQ ADVISORS TRUST
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
This Supplement updates certain information contained in the above-dated
Prospectus and Statement of Additional Information ("SAI") of EQ Advisors Trust
("Trust") regarding certain of the Portfolios of the Trust. You may obtain an
additional copy of the Prospectus or SAI, free of charge, by writing to the
Trust at 1290 Avenue of the Americas, New York, New York 10104.
INFORMATION REGARDING PORTFOLIO NAME CHANGES
Effective October 6, 2000, the names of certain of the Portfolios of the Trust
will be changed as follows:
Current Name New Name
------------ --------
Alliance Equity Index Portfolio EQ Equity 500 Index Portfolio
BT International Equity Index Portfolio EQ International Equity Index Portfolio
BT Small Company Index Portfolio EQ Small Company Index Portfolio
All references to each of these Portfolios in the Prospectus and SAI are hereby
changed to each Portfolio's new name.
INFORMATION REGARDING EQUITABLE DISTRIBUTORS, INC.
It is anticipated that during the fourth quarter 2000, Equitable Distributors,
LLC will become a successor by merger to Equitable Distributors, Inc.
Accordingly, all references to Equitable Distributors, Inc. in the Prospectus
and SAI should be replaced with Equitable Distributors, LLC.
INFORMATION REGARDING THE EQ/AGGRESSIVE STOCK PORTFOLIO
The information provided below updates information regarding the EQ/Aggressive
Stock Portfolio and replaces the first paragraph of the section entitled "The
Investment Strategy":
The Portfolio invests primarily on common stocks and other equity
securities of small and medium-sized companies that, in the opinion of
the Advisers, have favorable appreciation prospects. The Portfolio may
also invest in large-sized companies, securities of cyclical
industries, companies whose securities are temporarily undervalued,
companies in special situations (e.g., change in management, new
products or changes in customer demand), companies stocks whose growth
prospects are not recognized by the market and less widely known
companies.
The information provided below replaces that located in the fourth paragraph of
the section entitled "Who Manages the Portfolio", which relates to Alliance
Capital Management, L.P.:
Since September 2000, ARYEH GLATTER, WALT PEARSON AND JOSEPH POTTER are
the persons principally responsible for the day-to-day management of
the Alliance portion of the Portfolio. Mr. Glatter is a Vice President
of Alliance and has been associated with Alliance since prior to 1995.
Mr. Pearson is a Senior Vice President of Alliance and has been
associated with Alliance since prior to 1995. Mr. Potter is a Senior
Vice President of Alliance and has been associated with Alliance since
prior to 1995.
<PAGE>
INFORMATION REGARDING ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES PORTFOLIO
The information provided below updates information regarding the Alliance
Intermediate Government Securities Portfolio and replaces that located in the
second paragraph of the section entitled "Who Manages the Portfolio":
The Portfolio Managers are JEFFREY S. PHLEGAR and EDWIN M. WITHAM. Mr.
Phlegar has been responsible for the day-today- management of the
Portfolio and its predecessor since January 1999. Mr. Phlegar, a Senior
Vice President of Alliance has been associated with Alliance for the
past five years. Mr. Witham is a Vice President of Alliance and joined
the high grade and mortgage fixed income group in 1999. Prior to
joining Alliance, Mr. Witham served as a portfolio manager for eight
years at The Boston Company Asset Management, LLC.
INFORMATION REGARDING EQ/BALANCED PORTFOLIO
The information provided below updates information regarding the EQ/Balanced
Portfolio and replaces that located in the fourth paragraph of the section
entitled "Who Manages the Portfolio" relating to Alliance Capital Management,
L.P.:
The portfolio managers responsible for that portion of the Portfolio's
total assets that will be advised by Alliance as an Adviser are as
follows:
TYLER J. SMITH AND ALISON MARTIER, are the persons responsible
for the day-to-day management of the Alliance portion of the
Portfolio. Mr. Smith is a Senior Vice President of Alliance
and has been associated with Alliance since 1970. Ms. Martier
is a Senior Vice President of Alliance and has been associated
with Alliance since prior to 1995.
The information provided below updates information regarding the EQ/Balanced
Portfolio and supplements that located in the section entitled "Who Manages the
Portfolio" relating to Capital Guardian Trust Company:
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING CAPITAL GUARDIAN INTERNATIONAL PORTFOLIO
The information provided below updates information regarding the Capital
Guardian International Portfolio and supplements that located in the section
entitled "Who Manages the Portfolio":
ARTHUR J. GROMADZKI. Arthur Gromadzki is a Vice President of Capital
International Research, Inc. with European equity portfolio management
and investment analyst responsibilities. He also serves as a Research
Portfolio Coordinator for diversified and concentrated Global Equity
Research Portfolios. He joined the Capital Guardian organization in
1987.
CHRISTOPHER A. REED. Christopher A. Reed is a Vice President of Capital
International Research, Inc. with portfolio management responsibilities
for Japan and Pacific Basin portfolios and research responsibilities
for the Japanese financial sector. He joined the Capital Guardian
organization in 1994.
<PAGE>
INFORMATION REGARDING CAPITAL GUARDIAN U.S. EQUITY PORTFOLIO
The information provided below updates information regarding the Capital
Guardian U.S. Equity Portfolio and supplements that located in the second
paragraph of the section entitled "Who Manages the Portfolio":
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING THE J. P. MORGAN CORE BOND PORTFOLIO
The information provided below updates information regarding the J. P. Morgan
Core Bond Portfolio and replaces that located in the second paragraph of the
section entitled "Who Manages the Portfolio":
The Portfolio Managers, responsible for the day-to-day management of
the Portfolio are PAUL L. ZEMSKY, a Managing Director of J.P. Morgan
and a portfolio manager specializing in quantitative techniques, who
joined J.P. Morgan in 1985; and JAY GLADIEUX, a Vice President of J.P.
Morgan, and a fixed income portfolio manager, who joined J.P. Morgan in
1997. Prior to joining J.P. Morgan, Mr. Gladieux spent 15 years at
Morgan Stanley & Co, primarily in the Fixed Income division.
INFORMATION REGARDING THE MERCURY BASIC VALUE PORTFOLIO
AND MERCURY WORLD STRATEGY PORTFOLIO
Effective June 30, 2000, Mercury Asset Management US changed its name to
"Mercury Advisors." Accordingly, all references to "Mercury Asset Management US"
in the Prospectus and SAI are hereby changed to "Mercury Advisors."
<PAGE>
EQ ADVISORS TRUST
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
This Supplement updates certain information contained in the above-dated
Prospectus and Statement of Additional Information ("SAI") of EQ Advisors Trust
("Trust") regarding certain of the Portfolios of the Trust. You may obtain an
additional copy of the Prospectus or SAI, free of charge, by writing to the
Trust at 1290 Avenue of the Americas, New York, New York 10104.
INFORMATION REGARDING PORTFOLIO NAME CHANGES
Effective October 6, 2000, the names of certain of the Portfolios of the Trust
will be changed as follows:
Current Name New Name
------------ --------
Alliance Equity Index Portfolio EQ Equity 500 Index Portfolio
BT International Equity Index Portfolio EQ International Equity Index Portfolio
BT Small Company Index Portfolio EQ Small Company Index Portfolio
All references to each of these Portfolios in the Prospectus and SAI are hereby
changed to each Portfolio's new name.
INFORMATION REGARDING EQUITABLE DISTRIBUTORS, INC.
It is anticipated that during the fourth quarter 2000, Equitable Distributors,
LLC will become a successor by merger to Equitable Distributors, Inc.
Accordingly, all references to Equitable Distributors, Inc. in the Prospectus
and SAI should be replaced with Equitable Distributors, LLC.
INFORMATION REGARDING THE EQ/AGGRESSIVE STOCK PORTFOLIO
The information provided below updates information regarding the EQ/Aggressive
Stock Portfolio and replaces the first paragraph of the section entitled "The
Investment Strategy":
The Portfolio invests primarily on common stocks and other equity
securities of small and medium-sized companies that, in the opinion of
the Advisers, have favorable appreciation prospects. The Portfolio may
also invest in large-sized companies, securities of cyclical
industries, companies whose securities are temporarily undervalued,
companies in special situations (e.g., change in management, new
products or changes in customer demand), companies stocks whose growth
prospects are not recognized by the market and less widely known
companies.
The information provided below replaces that located in the fourth paragraph of
the section entitled "Who Manages the Portfolio", which relates to Alliance
Capital Management, L.P.:
Since September 2000, ARYEH GLATTER, WALT PEARSON AND JOSEPH POTTER are
the persons principally responsible for the day-to-day management of
the Alliance portion of the Portfolio. Mr. Glatter is a Vice President
of Alliance and has been associated with Alliance since prior to 1995.
Mr. Pearson is a Senior Vice President of Alliance and has been
associated with Alliance since prior to 1995. Mr. Potter is a Senior
Vice President of Alliance and has been associated with Alliance since
prior to 1995.
<PAGE>
INFORMATION REGARDING ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES PORTFOLIO
The information provided below updates information regarding the Alliance
Intermediate Government Securities Portfolio and replaces that located in the
second paragraph of the section entitled "Who Manages the Portfolio":
The Portfolio Managers are JEFFREY S. PHLEGAR and EDWIN M. WITHAM. Mr.
Phlegar has been responsible for the day-today- management of the
Portfolio and its predecessor since January 1999. Mr. Phlegar, a Senior
Vice President of Alliance has been associated with Alliance for the
past five years. Mr. Witham is a Vice President of Alliance and joined
the high grade and mortgage fixed income group in 1999. Prior to
joining Alliance, Mr. Witham served as a portfolio manager for eight
years at The Boston Company Asset Management, LLC.
INFORMATION REGARDING EQ/BALANCED PORTFOLIO
The information provided below updates information regarding the EQ/Balanced
Portfolio and replaces that located in the fourth paragraph of the section
entitled "Who Manages the Portfolio" relating to Alliance Capital Management,
L.P.:
The portfolio managers responsible for that portion of the Portfolio's
total assets that will be advised by Alliance as an Adviser are as
follows:
TYLER J. SMITH AND ALISON MARTIER, are the persons responsible
for the day-to-day management of the Alliance portion of the
Portfolio. Mr. Smith is a Senior Vice President of Alliance
and has been associated with Alliance since 1970. Ms. Martier
is a Senior Vice President of Alliance and has been associated
with Alliance since prior to 1995.
The information provided below updates information regarding the EQ/Balanced
Portfolio and supplements that located in the section entitled "Who Manages the
Portfolio" relating to Capital Guardian Trust Company:
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING CAPITAL GUARDIAN INTERNATIONAL PORTFOLIO
The information provided below updates information regarding the Capital
Guardian International Portfolio and supplements that located in the section
entitled "Who Manages the Portfolio":
ARTHUR J. GROMADZKI. Arthur Gromadzki is a Vice President of Capital
International Research, Inc. with European equity portfolio management
and investment analyst responsibilities. He also serves as a Research
Portfolio Coordinator for diversified and concentrated Global Equity
Research Portfolios. He joined the Capital Guardian organization in
1987.
CHRISTOPHER A. REED. Christopher A. Reed is a Vice President of Capital
International Research, Inc. with portfolio management responsibilities
for Japan and Pacific Basin portfolios and research responsibilities
for the Japanese financial sector. He joined the Capital Guardian
organization in 1994.
<PAGE>
INFORMATION REGARDING CAPITAL GUARDIAN U.S. EQUITY PORTFOLIO
The information provided below updates information regarding the Capital
Guardian U.S. Equity Portfolio and supplements that located in the second
paragraph of the section entitled "Who Manages the Portfolio":
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING THE J. P. MORGAN CORE BOND PORTFOLIO
The information provided below updates information regarding the J. P. Morgan
Core Bond Portfolio and replaces that located in the second paragraph of the
section entitled "Who Manages the Portfolio":
The Portfolio Managers, responsible for the day-to-day management of
the Portfolio are PAUL L. ZEMSKY, a Managing Director of J.P. Morgan
and a portfolio manager specializing in quantitative techniques, who
joined J.P. Morgan in 1985; and JAY GLADIEUX, a Vice President of J.P.
Morgan, and a fixed income portfolio manager, who joined J.P. Morgan in
1997. Prior to joining J.P. Morgan, Mr. Gladieux spent 15 years at
Morgan Stanley & Co, primarily in the Fixed Income division.
<PAGE>
EQ ADVISORS TRUST
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
This Supplement updates certain information contained in the above-dated
Prospectus and Statement of Additional Information ("SAI") of EQ Advisors Trust
("Trust") regarding certain of the Portfolios of the Trust. You may obtain an
additional copy of the Prospectus or SAI, free of charge, by writing to the
Trust at 1290 Avenue of the Americas, New York, New York 10104.
INFORMATION REGARDING PORTFOLIO NAME CHANGES
Effective October 6, 2000, the name of the following Portfolio of the Trust will
be changed as follows:
Current Name New Name
------------ --------
Alliance Equity Index Portfolio EQ Equity 500 Index Portfolio
All references to this Portfolio in the Prospectus and SAI are hereby changed to
the Portfolio's new name.
INFORMATION REGARDING EQUITABLE DISTRIBUTORS, INC.
It is anticipated that during the fourth quarter 2000, Equitable Distributors,
LLC will become a successor by merger to Equitable Distributors, Inc.
Accordingly, all references to Equitable Distributors, Inc. in the Prospectus
and SAI should be replaced with Equitable Distributors, LLC.
INFORMATION REGARDING THE EQ/AGGRESSIVE STOCK PORTFOLIO
The information provided below updates information regarding the EQ/Aggressive
Stock Portfolio and replaces the first paragraph of the section entitled "The
Investment Strategy":
The Portfolio invests primarily on common stocks and other equity
securities of small and medium-sized companies that, in the opinion of
the Advisers, have favorable appreciation prospects. The Portfolio may
also invest in large-sized companies, securities of cyclical
industries, companies whose securities are temporarily undervalued,
companies in special situations (e.g., change in management, new
products or changes in customer demand), companies stocks whose growth
prospects are not recognized by the market and less widely known
companies.
The information provided below replaces that located in the fourth paragraph of
the section entitled "Who Manages the Portfolio", which relates to Alliance
Capital Management, L.P.:
Since September 2000, ARYEH GLATTER, WALT PEARSON AND JOSEPH POTTER are
the persons principally responsible for the day-to-day management of
the Alliance portion of the Portfolio. Mr. Glatter is a Vice President
of Alliance and has been associated with Alliance since prior to 1995.
Mr. Pearson is a Senior Vice President of Alliance and has been
associated with Alliance since prior to 1995. Mr. Potter is a Senior
Vice President of Alliance and has been associated with Alliance since
prior to 1995.
<PAGE>
INFORMATION REGARDING ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES PORTFOLIO
The information provided below updates information regarding the Alliance
Intermediate Government Securities Portfolio and replaces that located in the
second paragraph of the section entitled "Who Manages the Portfolio":
The Portfolio Managers are JEFFREY S. PHLEGAR and EDWIN M. WITHAM. Mr.
Phlegar has been responsible for the day-today- management of the
Portfolio and its predecessor since January 1999. Mr. Phlegar, a Senior
Vice President of Alliance has been associated with Alliance for the
past five years. Mr. Witham is a Vice President of Alliance and joined
the high grade and mortgage fixed income group in 1999. Prior to
joining Alliance, Mr. Witham served as a portfolio manager for eight
years at The Boston Company Asset Management, LLC.
INFORMATION REGARDING EQ/BALANCED PORTFOLIO
The information provided below updates information regarding the EQ/Balanced
Portfolio and replaces that located in the fourth paragraph of the section
entitled "Who Manages the Portfolio" relating to Alliance Capital Management,
L.P.:
The portfolio managers responsible for that portion of the Portfolio's
total assets that will be advised by Alliance as an Adviser are as
follows:
TYLER J. SMITH AND ALISON MARTIER, are the persons responsible
for the day-to-day management of the Alliance portion of the
Portfolio. Mr. Smith is a Senior Vice President of Alliance
and has been associated with Alliance since 1970. Ms. Martier
is a Senior Vice President of Alliance and has been associated
with Alliance since prior to 1995.
The information provided below updates information regarding the EQ/Balanced
Portfolio and supplements that located in the section entitled "Who Manages the
Portfolio" relating to Capital Guardian Trust Company:
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING CAPITAL GUARDIAN INTERNATIONAL PORTFOLIO
The information provided below updates information regarding the Capital
Guardian International Portfolio and supplements that located in the section
entitled "Who Manages the Portfolio":
ARTHUR J. GROMADZKI. Arthur Gromadzki is a Vice President of Capital
International Research, Inc. with European equity portfolio management
and investment analyst responsibilities. He also serves as a Research
Portfolio Coordinator for diversified and concentrated Global Equity
Research Portfolios. He joined the Capital Guardian organization in
1987.
CHRISTOPHER A. REED. Christopher A. Reed is a Vice President of Capital
International Research, Inc. with portfolio management responsibilities
for Japan and Pacific Basin portfolios and research responsibilities
for the Japanese financial sector. He joined the Capital Guardian
organization in 1994.
<PAGE>
INFORMATION REGARDING CAPITAL GUARDIAN U.S. EQUITY PORTFOLIO
The information provided below updates information regarding the Capital
Guardian U.S. Equity Portfolio and supplements that located in the second
paragraph of the section entitled "Who Manages the Portfolio":
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING THE J. P. MORGAN CORE BOND PORTFOLIO
The information provided below updates information regarding the J. P. Morgan
Core Bond Portfolio and replaces that located in the second paragraph of the
section entitled "Who Manages the Portfolio":
The Portfolio Managers, responsible for the day-to-day management of
the Portfolio are PAUL L. ZEMSKY, a Managing Director of J.P. Morgan
and a portfolio manager specializing in quantitative techniques, who
joined J.P. Morgan in 1985; and JAY GLADIEUX, a Vice President of J.P.
Morgan, and a fixed income portfolio manager, who joined J.P. Morgan in
1997. Prior to joining J.P. Morgan, Mr. Gladieux spent 15 years at
Morgan Stanley & Co, primarily in the Fixed Income division.
INFORMATION REGARDING THE MERCURY BASIC VALUE PORTFOLIO
AND MERCURY WORLD STRATEGY PORTFOLIO
Effective June 30, 2000, Mercury Asset Management US changed its name to
"Mercury Advisors." Accordingly, all references to "Mercury Asset Management US"
in the Prospectus and SAI are hereby changed to "Mercury Advisors."
<PAGE>
EQ ADVISORS TRUST
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
This Supplement updates certain information contained in the above-dated
Prospectus and Statement of Additional Information ("SAI") of EQ Advisors Trust
("Trust") regarding certain of the Portfolios of the Trust. You may obtain an
additional copy of the Prospectus or SAI, free of charge, by writing to the
Trust at 1290 Avenue of the Americas, New York, New York 10104.
INFORMATION REGARDING PORTFOLIO NAME CHANGES
Effective October 6, 2000, the name of the following Portfolio of the Trust will
be changed as follows:
Current Name New Name
------------ --------
Alliance Equity Index Portfolio EQ Equity 500 Index Portfolio
All references to this Portfolio in the Prospectus and SAI are hereby changed to
the Portfolio's new name.
INFORMATION REGARDING EQUITABLE DISTRIBUTORS, INC.
It is anticipated that during the fourth quarter 2000, Equitable Distributors,
LLC will become a successor by merger to Equitable Distributors, Inc.
Accordingly, all references to Equitable Distributors, Inc. in the Prospectus
and SAI should be replaced with Equitable Distributors, LLC.
INFORMATION REGARDING THE EQ/AGGRESSIVE STOCK PORTFOLIO
The information provided below updates information regarding the EQ/Aggressive
Stock Portfolio and replaces the first paragraph of the section entitled "The
Investment Strategy":
The Portfolio invests primarily on common stocks and other equity
securities of small and medium-sized companies that, in the opinion of
the Advisers, have favorable appreciation prospects. The Portfolio may
also invest in large-sized companies, securities of cyclical
industries, companies whose securities are temporarily undervalued,
companies in special situations (e.g., change in management, new
products or changes in customer demand), companies stocks whose growth
prospects are not recognized by the market and less widely known
companies.
The information provided below replaces that located in the fourth paragraph of
the section entitled "Who Manages the Portfolio", which relates to Alliance
Capital Management, L.P.:
Since September 2000, ARYEH GLATTER, WALT PEARSON AND JOSEPH POTTER are
the persons principally responsible for the day-to-day management of
the Alliance portion of the Portfolio. Mr. Glatter is a Vice President
of Alliance and has been associated with Alliance since prior to 1995.
Mr. Pearson is a Senior Vice President of Alliance and has been
associated with Alliance since prior to 1995. Mr. Potter is a Senior
Vice President of Alliance and has been associated with Alliance since
prior to 1995.
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INFORMATION REGARDING ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES PORTFOLIO
The information provided below updates information regarding the Alliance
Intermediate Government Securities Portfolio and replaces that located in the
second paragraph of the section entitled "Who Manages the Portfolio":
The Portfolio Managers are JEFFREY S. PHLEGAR and EDWIN M. WITHAM. Mr.
Phlegar has been responsible for the day-today- management of the
Portfolio and its predecessor since January 1999. Mr. Phlegar, a Senior
Vice President of Alliance has been associated with Alliance for the
past five years. Mr. Witham is a Vice President of Alliance and joined
the high grade and mortgage fixed income group in 1999. Prior to
joining Alliance, Mr. Witham served as a portfolio manager for eight
years at The Boston Company Asset Management, LLC.
INFORMATION REGARDING EQ/BALANCED PORTFOLIO
The information provided below updates information regarding the EQ/Balanced
Portfolio and replaces that located in the fourth paragraph of the section
entitled "Who Manages the Portfolio" relating to Alliance Capital Management,
L.P.:
The portfolio managers responsible for that portion of the Portfolio's
total assets that will be advised by Alliance as an Adviser are as
follows:
TYLER J. SMITH AND ALISON MARTIER, are the persons responsible
for the day-to-day management of the Alliance portion of the
Portfolio. Mr. Smith is a Senior Vice President of Alliance
and has been associated with Alliance since 1970. Ms. Martier
is a Senior Vice President of Alliance and has been associated
with Alliance since prior to 1995.
The information provided below updates information regarding the EQ/Balanced
Portfolio and supplements that located in the section entitled "Who Manages the
Portfolio" relating to Capital Guardian Trust Company:
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING CAPITAL GUARDIAN INTERNATIONAL PORTFOLIO
The information provided below updates information regarding the Capital
Guardian International Portfolio and supplements that located in the section
entitled "Who Manages the Portfolio":
ARTHUR J. GROMADZKI. Arthur Gromadzki is a Vice President of Capital
International Research, Inc. with European equity portfolio management
and investment analyst responsibilities. He also serves as a Research
Portfolio Coordinator for diversified and concentrated Global Equity
Research Portfolios. He joined the Capital Guardian organization in
1987.
CHRISTOPHER A. REED. Christopher A. Reed is a Vice President of Capital
International Research, Inc. with portfolio management responsibilities
for Japan and Pacific Basin portfolios and research responsibilities
for the Japanese financial sector. He joined the Capital Guardian
organization in 1994.
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INFORMATION REGARDING CAPITAL GUARDIAN U.S. EQUITY PORTFOLIO
The information provided below updates information regarding the Capital
Guardian U.S. Equity Portfolio and supplements that located in the second
paragraph of the section entitled "Who Manages the Portfolio":
ALAN J. WILSON. Alan J. Wilson is a Vice President of Capital
International Research, Inc., a portfolio manager for Capital Guardian
and has research responsibilities covering U.S. oil services and
household products. He joined the Capital Guardian organization in
1991.
INFORMATION REGARDING THE J. P. MORGAN CORE BOND PORTFOLIO
The information provided below updates information regarding the J. P. Morgan
Core Bond Portfolio and replaces that located in the second paragraph of the
section entitled "Who Manages the Portfolio":
The Portfolio Managers, responsible for the day-to-day management of
the Portfolio are PAUL L. ZEMSKY, a Managing Director of J.P. Morgan
and a portfolio manager specializing in quantitative techniques, who
joined J.P. Morgan in 1985; and JAY GLADIEUX, a Vice President of J.P.
Morgan, and a fixed income portfolio manager, who joined J.P. Morgan in
1997. Prior to joining J.P. Morgan, Mr. Gladieux spent 15 years at
Morgan Stanley & Co, primarily in the Fixed Income division.
