Supplement No. 1 dated February 1, 1999
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to Prospectus dated November 1, 1998
(as supplemented February 1, 1999)
for State Street Research Argo Fund
A series of State Street Research Equity Trust
In the Prospectus section captioned "Investor Expenses," the Shareholder Fees
portion of the table is revised as follows:
<TABLE>
<CAPTION>
Class Class Class Class Class
Shareholder Fees (% of offering price) A B(1) B C S
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Maximum front-end sales charge (load) 5.75 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
Maximum deferred sales charge (load) 0.00(1) 5.00 5.00 1.00 0.00
- --------------------------------------------------------------------------------
</TABLE>
(1) Except for investments of $1 million or more: see "Sales Charges -- Class A
-- Front Load."
AG-523F-299
Control Number: (exp1199)SSR-LD
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