File No. 33-23512, 811-5629
Filed under Rule 497(e)
The GCG Trust
Prospectus Supplement
July 9, 1997
Supplement to the
Prospectuses dated May 1, 1996 for
The GCG Trust
On July 7, 1997, Equitable of Iowa Companies ("Equitable of
Iowa") and ING Groep, N.V. ("ING") entered into a definitive
merger agreement providing for Equitable of Iowa to become a
wholly owned subsidiary of ING in a transaction expected to occur
in the fourth quarter of this year. Equitable of Iowa is the
corporate parent of Directed Services, Inc. ("DSI"), the manager
and distributor of The GCG Trust, and Equitable Investment
Services, Inc. ("EISI"), a portfolio manager to the Liquid Assets
Series, the Limited Maturity Bond Series and the Market Manager
Series of The GCG Trust. ING, headquartered in the Netherlands,
is a global financial services holding company with over $275
billion in assets and another $50 billion in third-party assets
under management. Consummation of the acquisition, which is
subject to a number of conditions including customary regulatory
approvals, will likely result in the termination of the
management agreement between DSI and The GCG Trust and the
portfolio management agreements among DSI, The GCG Trust and each
of The GCG Trust's portfolio managers. It is expected that The
GCG Trust's Board of Trustees will consider before that time new
agreements with DSI and the portfolio managers, including EISI,
in respect of the Trust and its Series. Any such agreements,
which will likely be substantially identical to the current
agreements, would be subject to approval by shareholders of The
GCG Trusts.
This supplement should be retained with your Prospectus for The
GCG Trust.
IN 3058 GCG Trust 7/97
