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Rule 497(e)
File No. 33-59692
RYDEX SERIES TRUST
THE RYDEX HIGH YIELD FUND
Supplement, dated November 7, 1997,
to
Prospectus, dated August 1, 1997
The first sentence in the first paragraph under the heading
"DETERMINATION OF NET ASSET VALUE," at page 15 in the Prospectus,
is hereby deleted, and the following text is hereby inserted in
lieu thereof:
The net asset value of the Fund s shares is determined
each day on which both the NYSE and the New York Fed
are open for business as of the time that prices for
the high yield corporate bonds included in the MLHY
Index are taken (currently approximately 3:00 P.M.,
Eastern Time).
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Rule 497(e)
File No. 33-59692
RYDEX SERIES TRUST
Supplement, dated November 7, 1997
to
Prospectus, dated August 1, 1997
The fourth sentence in the first paragraph under the heading
"DETERMINATION OF NET ASSET VALUE," at page 32 in the Prospectus,
is hereby deleted, and the following text is hereby inserted in
lieu thereof:
The net asset value of the shares of the High Yield
Fund is determined each day on which both the NYSE and
the New York Fed are open for business as of the time
that prices for the high yield corporate bonds included
in the Merrill Lynch High Yield Master IndexTM, the
High Yield Fund s benchmark, are taken (currently
approximately 3:00 P.M., Eastern Time).
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