NORTHSTAR EQUITY TRUST
497, 1998-09-21
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                         NORTHSTAR MID-CAP GROWTH FUND
                 Prospectus Supplement dated September 21, 1998
                       to Prospectus dated August 20, 1998

The disclosure in the section entitled "NORTHSTAR MID-CAP GROWTH FUND-HOLDINGS"
is hereby amended to reflect that:

Effective September 21, 1998, the definition of "mid-sized companies" on page 2
is revised to read as follows:

     "companies with a market capitalization of between $800 million to $5
billion".




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