EV CLASSIC SENIOR FLOATING RATE FUND /MA/
497, 1997-05-30
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              EV Classic Senior Floating-Rate Fund


                         Supplement to Prospectus dated
                    February 21, 1997, as revised May 1, 1997



         Effective  today,  Authorized  Firms will be compensated at the rate of
 .75% of the dollar amount of the shares being  purchased,  consisting of .60% of
sales  commission  and .15% of service fee (for the first year's  services).  No
compensation  is paid for exchanges from another Eaton Vance fund, and exchanges
will be refused if shares in such other fund (and any prior Eaton  Vance  funds)
have been held for less than 30 days.





June 1, 1997                                                             C-SFRPS


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