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ZWEIG SERIES TRUST
SUPPLEMENT DATED JANUARY 5, 1996
TO THE PROSPECTUS DATED SEPTEMBER 1, 1995
REVISION TO FOOTNOTE (1) TO FEE TABLE ON PAGE 2 OF THE PROSPECTUS:
(1) The Manager has voluntarily undertaken to limit the expenses of Zweig
Cash Fund (exclusive of taxes, interest, brokerage commissions, certain
distribution fees and extraordinary expenses) to .35% of its average net assets
effective November 9, 1995. The Manager reserves the right to discontinue this
policy at any time after April 30, 1996.
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REVISIONS TO LANGUAGE ON PAGE 11 OF THE PROSPECTUS:
NET ASSET VALUE. Net asset values of each class of shares are calculated
on each day that the NYSE is open, at 2:00 p.m. New York time for Zweig Cash
Fund and as of the close of regular trading on the NYSE for Zweig Cash Fund and
for the other funds.
DISTRIBUTIONS AND TAXES. It declares this dividend at 2:00 p.m. New York
time on each day the NYSE is open.
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ADDITION TO LANGUAGE ON PAGE 12 OF THE PROSPECTUS:
EXCHANGE PRIVILEGE. All exchanges are effected as of the close of regular
trading on the NYSE.
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ADDITION TO LANGUAGE ON PAGE 15 OF THE PROSPECTUS -- 1ST PARAGRAPH:
In addition, Zweig Securities Corp. may also pay dealers who maintain an
omnibus account with the transfer agent, a fee at the annual rate of 0.10% of
the average daily net assets held in any sub-account that has been continually
invested in Zweig Mutual Funds for more than four years.
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REVISION TO LANGUAGE ON PAGE 16 OF THE PROSPECTUS:
THROUGH THE TRANSFER AGENT BY TELEPHONE. The transfer agent must receive
your instructions before 2:00 p.m. New York time for Zweig Cash Fund in order to
redeem shares and receive Federal funds that day. For the other funds, the
transfer agent must receive your order before the close of regular trading on
the NYSE (presently 4:00 p.m. New York time) in order to redeem shares that day.
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REVISION TO LANGUAGE ON PAGE 17 OF THE PROSPECTUS:
The MANAGER AND MANAGEMENT FEE. The last sentence of paragraph 2 is
deleted in its entirety.
