Supplement to the Prospectus
Dated November 15, 1995
EVEREN Unit Investment Trusts Series 38
As of January 15, 1996, Investors Fiduciary Trust Company will be
replaced by The Bank Of New York as Trustee of the Trusts. The
Bank of New York is a trust company organized under the laws of
New York. The Bank of New York has its offices at 101 Barclay
Street, New York, New York 10286, telephone (800) 701-8178. The
Bank of New York is subject to supervision and examination by the
Superintendent of Banks of the State of New York and the Board of
Governors of the Federal Reserve System, and its deposits are
insured by the Federal Deposit Insurance Corporation to the
extent permitted by law. Commencing January 15, 1996, Unitholder
inquiries should be directed to the Bank of New York at the
address and telephone number above.
