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Rule 497(e)
File No. 33-59692
RYDEX SERIES TRUST
Supplement dated June 6, 1996
to
Prospectus dated November 1, 1995
The first paragraph under "Determination of Net Asset Value" at
page 22 in the Prospectus is hereby deleted and inserted in lieu
thereof is the following:
The net asset value of the shares of the Nova Fund, the
Ursa Fund, the Metals Fund, and the OTC Fund is
determined each day on which the New York Stock
Exchange (the "NYSE") is open for business as of the
close of normal trading on the NYSE (currently 4:00
P.M., Eastern Time). The net asset value of the shares
of the Bond Fund and the Juno Fund is determined each
day on which the NYSE is open for business at 3:00
P.M., Eastern Time. The net asset value of the shares
of the Money Market Fund is determined each day on
which the NYSE is open for business at 1:00 P.M.,
Eastern Time. Currently, the NYSE is closed on
weekends and on the following holidays: (i) New Year s
Day, President s Day, Good Friday, Memorial Day, July
Fourth, Labor Day, Thanksgiving Day, and Christmas Day;
and (ii) the preceding Friday when any one of those
holidays falls on a Saturday or the subsequent Monday
when any one of those holidays falls on a Sunday. The
net asset value of a Rydex Fund serves as the basis for
the purchase and redemption price of that Rydex Fund s
shares, and the net asset value per share of a Rydex
Fund is calculated by dividing the net worth of the
Fund by the number of shares of the Rydex Fund
outstanding.
On days when the Chicago Board of Trade (the "CBOT") is
closed during its usual business hours, but the shares
of the Bond Fund or Juno Fund have been purchased,
redeemed, and/or exchanged, the portfolio securities
held by the Bond Fund or Juno Fund which are traded on
the CBOT are valued, at the earlier of (i) the time of
the execution of the last trade of the day for the Bond
Fund or Juno Fund in those CBOT-traded portfolio
securities and (ii) the time of the close of the CBOT
Evening Session. On days when the CBOT is closed
during its usual business hours and there is no need
for the Bond Fund or Juno Fund to execute trades on the
CBOT, the value of the CBOT-traded portfolio securities
held by the Bond Fund or Juno Fund will be the mean of
the bid and asked prices for those CBOT-traded
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portfolio securities at the open of the CBOT Evening
Session.
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