NATIONAL EQUITY TRUST UTILITY SERIES 2
497, 1994-07-14
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NATIONAL EQUITY TRUST
UTILITY SERIES 2
SUPPLEMENT TO PROSPECTUS
JULY 14, 1994

The Summary of Essential Information (page A-4) is revised as
follows:

ESTIMATED ANNUAL INCOME PER 100 UNITS(4).............  $   61.86
     Less estimated annual expenses per 100 Units....  $    1.10
ESTIMATED NET ANNUAL INCOME PER 100 UNITS............  $   60.76

MONTHLY INCOME DISTRIBUTIONS(4):
$5.06 Per 100 Units<PAGE>


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