PROSPECTUS SUPPLEMENT
Dated August 14, 1996
Supplement to the
Prospectus dated May 1, 1996 for
The GCG Trust
__________
This supplement should be retained with your
Prospectus for The GCG Trust.
On August 13, 1996, Equitable of Iowa Companies ("Equitable
of Iowa") acquired all of the interest in BT Variable, Inc.
("BT Variable") and changed its name to EIC Variable, Inc.
("EIC Variable"). EIC Variable is the corporate parent of
Directed Services, Inc. ("DSI"), the Manager of The GCG
Trust (the "TRUST"). On July 29, 1996, at a special meeting
of the shareholders of the "Trust" (the "Shareholders"), the
Shareholders approved a new Management Agreement between the
Trust and DSI to be come effective upon the acquisition of
BT Variable by Equitable of Iowa Companies. The new
Management Agreement is substantially identical to the
previous Management Agreement also between the Trust and
DSI. Additionally, the Shareholders approved new separate
Portfolio Management Agreements to be entered into by the
Trust, DSI and each of the Trust's Portfolio Managers. The
Portfolio Managers, together with each Series managed,
follows:
Portfolio Manager Series
----------------- ------
Zweig Advisors Inc. Multiple Allocation Series
Zweig Advisors Inc. Strategic Equity Series
T. Rowe Price Associates, Fully Managed Series
Inc.
Van Eck Associates Natural Resources Series
Corporation
E.I.I. Realty Securities, Real Estate Series
Inc.
Warburg, Pincus Counsellors, All-Growth Series
Inc.
Chancellor Trust Company Capital Appreciation Series
Kayne, Anderson Investment Rising Dividends Series
Management, L.P.
Bankers Trust Company Emerging Markets Series
Eagle Asset Management, Inc. Value Equity Series
Fred Alger Management, Inc. Small Cap Series
Equitable Investment Limited Maturity Bond Series
Services, Inc.
Equitable Investment Liquid Asset Series
Services, Inc.
For each Series except the Limited Maturity Bond Series and
the Liquid Asset Series, each Portfolio Management Agreement
is substantially identical to its preceding agreement. For
the Limited Maturity Bond Series and the Liquid Asset
Series, the Shareholders appointed Equitable Investment
Services, Inc.("Equitable Investment Services") serve as
Portfolio Manager pursuant to a new Portfolio Management
Agreement under terms substantially identical to those with
the previous Portfolio Manager, Bankers Trust Company.
EQUITABLE INVESTMENT SERVICES
Equitable Investment Services is an Iowa corporation with
its place of business at 699 Walnut Street, Des Moines, Iowa
50309. Equitable Investment Services is an investment
advisor registered under the Investment Advisers Act of
1940. Equitable Investment Services is a wholly owned
subsidiary of Equitable of Iowa Companies and an affiliate
of Equitable Life Insurance Company of Iowa ("Equitable
Life"), USG Annuity & Life Company ("USG"), Locust Street
Securities, Inc., EIC Variable, Golden American Life
Insurance Company ("Golden American") and DSI. Neither
Equitable of Iowa Companies nor any of its affiliates are
affiliated with any of the other current Portfolio Managers
of the Trust. The address of Equitable of Iowa Companies is
604 Locust Street, Des Moines, Iowa 50319. Equitable
Investment Services also acts as the investment adviser to,
and administrator of, the Equi-Select Series Trust. The
Equi-Select Series Trust is the investment medium for
variable annuities issued by Equitable Life. The Equi-
Select Series Trust had assets of approximately $167 million
as of June 30, 1996. In addition to its responsibility for
the overall management of the investment strategies and
policies of the ten portfolios of the Equi-Select Trust,
Equitable Investment Services directly manages the Money
Market Portfolio, the Mortgage-Backed Securities Portfolio,
and the Advantage Portfolio of the Equi-Select Series Trust.
Additionally, Equitable Investment Services serves as the
investment adviser to Equitable Life, USG and Golden
American and is such capacity manages over $8.8 billion in
general account assets, comprised primarily of investment
grade corporate bonds, mortgage backed securities, non-
investment grade corporate bonds and commercial mortgages.
IN 3058-ACQ 8/96
