Pursuant to Rule 497(e)
Registration No. 33-24962
Investment Company Act No.: 811-5186
American Skandia Trust
Supplement dated February 21, 1997 to the Prospectus dated December 30, 1996
Federated Utility Income Portfolio
Effective February 7, 1997, Linda A. Duessel became the sole manager of
the Federated Utility Income Portfolio upon the resignation of Christopher H.
Wiles as co-manager of the Portfolio.
Accordingly, the section of the Prospectus entitled "Management of the
Trust -- Sub-advisors -- Federated Utility Income Portfolio and Federated High
Yield Portfolio" (pages 96-97) is amended by deleting the second paragraph and
adding the following:
The manager responsible for management of the Federated Utility Income
Portfolio is Linda A. Duessel. Linda A. Duessel joined Federated Investors in
1991 and has been a Vice President of an affiliate of the Sub-advisor since
1995. Ms. Duessel was an Assistant Vice President of an affiliate of the
Sub-advisor from 1991 until 1995. Ms. Duessel is a Chartered Financial Analyst
and received her M.S. in International Administration from Carnegie Mellon
University.
T. Rowe Price Natural Resources Portfolio
Effective March 1, 1997, David J. Wallack will become the Chairman of the
Investment Advisory Committee managing the T. Rowe Price Natural Resources
Portfolio, replacing George A. Roche and Charles M. Ober, the current
Co-Chairmen. The other members of the Committee will be Mr. Ober, David M. Lee,
Hugh M. Evans III, Richard P. Howard and James A.C. Kennedy.
Accordingly, the section of the Prospectus entitled "Management of the
Trust -- Sub-advisors -- T. Rowe Price Asset Allocation Portfolio, T. Rowe Price
Natural Resources Portfolio and T. Rowe Price Small Company Value Portfolio"
(page 97) is amended by deleting the third paragraph and adding the following:
The T. Rowe Price Natural Resources Portfolio is managed by an Investment
Advisory Committee composed of the following members: David J. Wallack,
Chairman, Charles M. Ober, David M. Lee, Hugh M. Evans III, Richard P. Howard
and James A.C. Kennedy. The Committee Chairman has day-to-day responsibility for
managing the Portfolio and works with the Committee in developing and executing
the Portfolio's investment program. Mr. Wallack, who joined T. Rowe Price in
1990, is a Vice President of T. Rowe Price and an Investment Analyst for the
firm's Equity Research Division.
