FT 266
497, 1998-07-27
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                                 FT 266

      Blue-Chip Undervalued Land of Lincoln Stocks Trust, Series 2

            Supplement to the Prospectus dated July 22, 1998

Notwithstanding anything to the contrary in the Prospectus, the Net
Dealer Concessions for volume purchases of 1.90%, 1.65%, 1.30%, 1.15%
and 0.50% as set forth in the chart on page 19 of the Prospectus shall
be amended to 1.75%, 1.50%, 1.15%, 1.00% and 0.50%, respectively.

July 27, 1998
 


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