Rule 497(e)
File No. 33-59692
RYDEX SERIES TRUST
Supplement dated May 1, 1996
to
Prospectus dated November 1, 1995
The following text is inserted after the second sentence under
"Purchases, Redemptions, and Exchanges of Trust Shares" at
page 5 in the Prospectus and also is inserted as the final
paragraph under "Redeeming an Investment (Withdrawals);
General" at page 24 in the Prospectus:
Because of the administrative expense of handling
small accounts, the Trust reserves the right to
redeem involuntarily an investor's account,
including a retirement account, which falls below
the applicable minimum investment in total value in
the Trust due to redemptions, after providing 60
days written notice to the investor. In addition,
both a request for a partial redemption by an
investor whose account balance is below the minimum
investment and a request for a partial redemption by
an investor that would bring the account balance
below the minimum investment will be treated as a
request by the investor for a complete redemption of
that account.
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