John Hancock Special Equities Fund, March 1, 1996
Supplement to Class A and Class B Prospectus
On April 30, 1996, the Trustees of the John Hancock Special Equities Fund (the
"Fund") approved a new Subadvisory Agreement between the Fund and DiCarlo,
Forbes & St. Pierre Advisers, LLC ("DFS Advisors"). DFS Advisors is a
newly-created entity registered under the Investment Advisors Act of 1940 with
Michael P. DiCarlo as one of its principals.
Under the contract, Mr. DiCarlo will continue to be responsible for the
day-to-day management of the Fund. Mr. DiCarlo has been associated with John
Hancock Advisers, Inc. since 1984.
On June 26, 1996, the Fund's shareholders will vote on the new subadvisory
contract.
May 1, 1996
1800S-5/96
