Supplement dated April 5, 1999 to PRICING
SUPPLEMENT NO.1 dated August 5, 1996
to the Prospectus dated December 28, 1995 and
Prospectus Supplement dated January 3, 1996
-------------------
$73,000,000
GS Financial Products U.S., L.P.
MEDIUM-TERM NOTES, SERIES B
S&P ENHANCED STOCK INDEX GROWTH NOTES DUE AUGUST 9, 2002
("E-SIGNS")
-------------------
On April 5, 1999, the closing value of the S&P 500 Composite Stock
Index (the "Index") was 1321.12. As a result, pursuant to the terms of the
E-SIGNS, the Redemption Amount payable on the Stated Maturity Date will be
$53.25 per each $25 face amount of E-SIGNS, irrespective of further increases or
decreases in the closing value of the Index. For a discussion of some of the
implications of this event, see "Certain Factors--Trading--Redemption Amount
Cap" in the accompanying Pricing Supplement No. 1 and for the possible tax
consequences of this event, see "Certain United States Federal Tax
Considerations" in the accompanying Pricing Supplement No. 1.
