Rule 497(e)
File No. 33-59692
RYDEX SERIES TRUST
Supplement dated January 16, 1997
to
Prospectus dated November 1, 1996,
as Supplemented January 2, 1997
The following paragraph is inserted after the fourth paragraph
under "Determination of Net Asset Value" at page 33 in the
Prospectus:
On days when 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 portfolio securities at the
open of the CBOT Evening Session.<PAGE>
