IRA Ideal!
Defined Asset Funds (R)
Select Series 2000 A
Capital Appreciation Quantitative Research
Select Growth Portfolio
A Disciplined Approach to Growth Stock Investing
[logo] Merrill Lynch
How the Portfolio is Selected
O'Shaughnessy Capital Management, Inc., a registered investment advisor (the
Portfolio Consultant), developed a quantitative selection model that screens a
universe of over 5,000 stocks to identify growth stocks believed to be
reasonably priced and to have attractive growth potential.
(1) Growth is defined by selecting stocks with consensus estimated
earnings per share growth of 20% for the next year. Then, to give a
longer-term view and to avoid short-term runs ups, the Portfolio
Consultant screens for a 20% estimated consensus earnings per share
growth for the next three to five years.
(2) Value is considered by selecting growth stocks with Price to Earnings
Ratios not exceeding their estimated three to five year earnings
growth rates.
(3) Relative strength is determined by separating out stocks with strong
relative price performance over the prior six months.
(4) The Portfolio Consultant eliminates smaller companies with market
capitalizations below $750 million.
Finally, the Defined Asset Funds Research Group selects the ten stocks
considered most attractive.
The securities are selected and held without regard to any buy or sell
recommendations of any of the Sponsors.
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Choosing investments to support your financial objectives can be difficult.
This is particularly true if you're interested in adding aggressive growth
stocks to your portfolio. While many mutual funds and money managers follow a
"growth stock" investment style, there is no generally accepted definition of a
growth stock and no easy way to select one. That's why Defined Asset Funds(R
developed a portfolio designed to provide definition and discipline to
aggressive growth stock investing...
Select Growth Portfolio
The Strategy
The Select Growth Portfolio is based on the strategy of buying ten screened
growth stocks and holding them for about a year. At the end of that time, we
intend to reapply the strategy to select a new Portfolio. You can choose to
either redeem your investment, or roll your proceeds into the next Portfolio,
if available, at a reduced sales charge.
This is a one-year investment, but, like all equity investing, a longer-term
view is appropriate. To reduce the effect of short-term volatility, we
recommend staying with the strategy for at least three to five years for
potentially more consistent results.
Defined Portfolio
This preselected Portfolio will remain relatively fixed throughout its one-year
life. You will always know where your dollars are invested.
Convenience Defined
There's no need for multiple security purchases. The Select Growth Portfolio
offers a screened portfolio of ten stocks, with just one price to track.
Discipline
The Portfolio follows a disciplined strategy of buying and holding stocks for
about one year.
Exchange Option
You can exchange units of this Fund for units of certain other Defined Asset
funds at a reduced sales charge. You may also exchange into this Fund from
certain other funds.
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Cost
Investments start at $250, with sales charge discounts available for purchases
of $50,000 or more.
Investor Profile
This Portfolio is designed for investors whose primary objective is aggressive
long-term growth. Investors should have the will and ability to withstand the
extreme price volatility of aggressive growth stocks, in exchange for the
potential of greater rewards over time.
A Defined Portfolio
Company Symbol
Capital One Financial Corporation* COF
Through its subsidiaries, Capital One Financial Corporation provides a
variety of services such as credit card products, consumer lending and
deposit services to consumers.
CDW Computer Centers, Inc. CDWC
This direct marketer of microcomputer products sells brand-name
hardware and peripherals, software, networking/communications products
and accessories to users throughout the United States.
CSG Systems International, Inc. CSGS
This company provides customer and billing solutions for providers of
cable television, direct broadcast satellites and online and telephone
services.
CTS Corporation* CTS
CTS Corporation designs, manufactures and sells electronic components
and assemblies to original equipment manufacturers throughout the
world.
Cypress Semiconductor Corporation CY
This company designs, develops, manufactures and markets a line of
digital and mixed-signal integrated circuits for the
telecommunications, computer and instrumentation systems markets.
Dollar Tree Stores, Inc. DLTR
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Operating a discount variety store chain throughout the United States,
Dollar Tree Stores sells everyday general merchandise at the $1.00
price point.
Orthodontic Centers of America, Inc. OCA
This company provides practice management services to
orthodontic centers in the United States, Puerto Rico, Mexico
and Japan.
Pacific Sunwear of California, Inc. PSUN
This mall-based specialty retailer of casual apparel, footwear
and accessories operates throughout the United States.
Pixar, Inc. PIXR
Through the combination of creative and technical artistry,
this animation studio creates feature films and related
products. It produced and created Toy Story and A Bug's Life.
Sensormatic Electronics Corporation SRM
ensormatic Electronics Corporation designs, manufactures and
markets electronic security, sensing and tracking systems.
*These stocks currently pay dividends.
Past Performance of Prior Select Growth Portfolios
Past Performance is no guarantee of future results.
Series From Inception Through 12/31/99 Most Recently Completed Portfolio
(including annual rollovers)
Inception Series Return Period Series Return
2/14/95 A 48.15% 2/17/98 - 3/19/99 A 26.37%
6/6/95 B 18.45 5/18/98 - 6/18/99 B -13.99
8/1/95 C 6.85 8/24/98 - 10/1/99 C 43.53
11/1/95 D 28.82 11/17/97 - 12/18/98 D -28.98
The chart above shows average annual total returns which represent price change
plus dividends reinvested, divided by the initial public offering price, and
reflect maximum sales charges and expenses. Returns for Series From inception
differ from most Recently Completed Portfolio because the former figures
reflect different performance periods and a reduced sales charge on annual
rollovers.
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Defined Asset Funds - Our Philosophy
At Defined Asset Funds, we are ever mindful that behind every investment dollar
lies something infinitely more important - your investment goal. This is why we
offer a full range of defined investments designed to meet a variety of
objectives.
We are committed to providing our investors with some of today's most
attractive equity and fixed-income investments, within the convenient structure
of a unit investment trust. For income, for growth or for total return, we
believe that time in the market an be an effective strategy for growing your
portfolio.
At Defined Asset Funds, we set the foundation for all of our portfolios in this
way, because we too have an important goal in mind - yours.
[logo] Defined Asset Funds(R)
Buy With Knowledge - Hold With Confidence
Equity Investor Funds
Other Select Series
Select Ten Portfolio (DJIA)
United Kingdom Portfolio (Financial Times Index)
Institutional Holdings Portfolio
Select Large-Cap Growth Portfolio
Select S&P Industrial Portfolio
Select Standard & Poor's Industry Turnaround Portfolio
Select Standard & Poor's Intrinsic Value Portfolio
Concept Series
Baby Boom Economy Portfolios(SM)
Earnings Growth Consistency Portfolio
Energy Portfolio
Financial Services Portfolio
Health Care Trust
Internet Portfolio
Premier American Portfolio
Premier World Portfolio
Real Estate Income Fund
Tele-Global Trust
Utility Portfolio
Western Premier Portfolio
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Index Series
S&P 500 Trust
S&P MidCap Trust
Fixed Income Funds
Corporate Funds
Government Funds
Municipal Funds
Participate in Growth Stocks Now!
You can get started today with the Select Growth Portfolio for $250. Call your
financial professional for a free prospectus containing more complete
information, including sales charges, expenses and risks. Please read it
carefully before you invest or send money.
Defining Your Risks
Please keep in mind the following factors when considering this investment.
Your financial professional will be happy to answer any questions you may have.
o The Portfolio consists of aggressive growth stocks which are subject
to extreme price volatility. Therefore, the Portfolio should be
considered speculative and not a complete equity investment program.
The Portfolio is concentrated in technology stocks, which may involve
special risks.
o There can be no assurance that the Portfolio will meet its objective.
o The Portfolio is designed for investors who can assume the risks
associated with speculative equity investments. It is not appropriate
for investors seeking capital preservation or current income.
o The value of your investment will fluctuate with the prices of the
underlying stocks. Stock prices can be volatile.
o The model and the Portfolio Consultant have a limited track record.
Since 1995, when the first Portfolio was offered, the model has often
underperformed the S&P 500 Index and other equity indices.
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o It is unlikely that the Portfolio will change over its one-year life,
even if the stock market decreases in value or adverse developments
affect the stocks held.
Tax Reporting
When seeking capital appreciation, managing tax liability on capital gains can
be vital to your overall return. By holding this Fund for more than one year,
individuals may be eligible for favorable federal tax rates on net long-term
capital gains for individuals (currently no more than 20%).
Generally, dividends and any gains will be subject to tax each year, whether or
not reinvested. However, on rollovers to future Portfolios, if available,
investors will defer recognition of gains and losses for federal tax purposes
on stocks that are transferred to the new Portfolio. Please consult your tax
advisor concerning state and local taxation.
Defining Your Costs
You will pay an initial sales charge of about 1% the first time you buy. In
addition, you'll pay a deferred sales charge of $15.00 per 1,000 units, about
1.50%.
As a % of Public Amount Per
Offering Price 1,000 Units
Initial Sales Charge 1.00% $10.00
Deferred Sales Charge 1.50% $15.00
Maximum Sales Charge 2.50% $25.00
Creation and Development Fee (as 0.250% $2.48
a % of net assets)
Estimated Annual Expenses 0.189% $1.87
(as a % of net assets)
Estimated Organization Costs $1.83
If you sell your units before the termination date, the remaining balance of
your deferred sales charge will be deducted, along with the estimated costs of
selling Portfolio securities, from the proceeds you receive. If you roll over
to a successor Portfolio, if available, the initial sales charge on that
Portfolio will be waived. You will only pay the deferred sales charge.
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Volume Purchase Discounts
For larger purchases, the overall sales charges are reduced to put more of your
investment dollars to work for you.
Total Sales Charge as a % of
Amount Purchased Public Offering Price
Less than $50,000 2.50%
$50,000 to $99,999 2.25
$100,000 to $249,999 1.75
$250,000 to $999,999 1.50
$1,000,000 or more 0.75
[logo] Printed on Recycled Paper 11591BR-3/00
(c) 2000 Merrill Lynch, Pierce, Fenner & Smith Incorporated. Member SIPC.
Defined Asset Funds is a registered service mark of Merrill Lynch & Co., Inc.
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