GOLDMAN SACHS TRUST, 497, 1998-10-23

GOLDMAN SACHS TRUST
497, 1998-10-23

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                            GOLDMAN SACHS TRUST
 
                    GOLDMAN SACHS DOMESTIC EQUITY FUNDS
 
          CLASS A, CLASS B, CLASS C, INSTITUTIONAL, SERVICE SHARES
 
                                  ----------
 
                     SUPPLEMENT DATED OCTOBER 23, 1998
       TO PROSPECTUSES DATED MAY 1, 1998 AS REVISED SEPTEMBER 1, 1998
 
    Effective October 23, 1998, the Goldman Sachs Balanced Fund which
    invests, under normal circumstances, between 45% and 65% of its
    total assets in equity securities may employ a value oriented
    and/or a growth equity oriented approach to manage the equity
    portion of the Fund. Furthermore, the following portfolio managers
    have been added to the equity portion of the Balanced Fund: George
    D. Adler, Robert G. Collins, Herbert E. Ehlers, Gregory H. Ekizian,
    David G. Shell and Ernest C. Segundo, Jr. For more information on
    the aforementioned portfolio managers, please refer to section
    "MANAGEMENT" subsection "Fund Managers" in the prospectus.
 
    503072
    BALSTK 10/98