PHOENIX EQUITY SERIES FUND
Supplement dated October 1, 1997 to
Prospectus dated September 25, 1997
DEALER CONCESSIONS
The following paragraph should be inserted under the heading "Dealer
Concessions" on page 17 of the Prospectus.
In connection with aggregate purchases (net of redemptions) of any
combination of Classes of Shares of the following Funds between October 1,
1997 and December 31, 1997, Equity Planning may pay participating
broker/dealers, out of its profits and resources, an additional dealer
discount or sales commission equal to 0.50% of the purchase price. This fee
does not apply to shares purchased through non-commissionable exchanges.
Phoenix-Engemann Funds:
o Growth Fund o Nifty Fifty Fund
o Balanced Return Fund o Global Growth Fund
o Small & Mid-Cap Growth Fund o Value 25 Fund
Phoenix Equity Series Fund:
o Core Equity Fund o Growth and Income Fund
