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HERITAGE SERIES TRUST
SMALL CAP STOCK FUND
Supplement dated August 7, 1995 to the
Prospectus dated April 3, 1995
Effective on August 7, 1995, Heritage Asset Management, Inc.
("Heritage") has retained Eagle Asset Management, Inc. ("Eagle") as a
third subadviser to Heritage Series Trust-Small Cap Stock Fund ("Fund").
Accordingly, all references in the Prospectus to the "Subadvisers" also
include "Eagle." Heritage has decided that all assets of the Fund
previously allocated to the Research Department of Raymond James &
Associates, Inc. ("Research") will be allocated to Eagle.
Eagle Asset Management, Inc., 880 Carillon Parkway, St.
Petersburg, Florida 33716 makes investment decisions on behalf of its
allocated portion of the Fund's assets. Eagle intends to follow
substantially the same investment approach that Research previously
employed. While a majority of the stocks purchased by Eagle will be rated
"Buy-1" by Research at the time of purchase, stocks may carry ratings
other than "Buy-1" or may not be rated by Research. Eagle is a
wholly-owned subsidiary of Raymond James Financial, Inc. Eagle acts as
adviser to Heritage Series Trust-Eagle International Equity Portfolio.
Eagle also serves as subadviser to Heritage Income-Growth Trust, Heritage
Series Trust-Value Equity Fund, Heritage Capital Appreciation Trust
(although no assets currently are allocated to it) and Heritage Income
Trust-Diversified Portfolio, and advises private investment accounts with
net assets totaling approximately $1.8 billion as of June 30, 1995.
Mr. Bert L. Boksen serves as portfolio manager of the portion of
the Fund's assets allocated to Eagle. Mr. Boksen joined Eagle in 1995 as a
Senior Vice President. Mr. Boksen was employed for 16 years by Raymond
James & Associates ("RJA") in its institutional research and sales
department. Among the positions Mr. Boksen held while employed by RJA were
co-head of Equity Research, Chief Investment Officer of the Research
Department and Chairman of the Raymond James "Focus List" Committee.
