File No. 033-79166, 811-8522
Filed under Rule 497(e)
The Equi-Select Series Trust
Prospectus Supplement
July 9, 1997
Supplement to the
Prospectuses dated May 1, 1996 for
The Equi-Select Series Trust
On July 7, 1997, Equitable of Iowa Companies ("Equitable of
Iowa") and ING Groep, N.V. ("ING") entered into a definitive
merger agreement providing for Equitable of Iowa to become a
wholly owned subsidiary of ING in a transaction expected to occur
in the fourth quarter of this year. Equitable of Iowa is the
corporate parent of Equitable Investment Services, Inc. ("EISI"),
the adviser of the Equi-Select Series Trust (the "ESS Trust").
ING, headquartered in the Netherlands, is a global financial
services holding company with over $275 billion in assets and
another $50 billion in third-party assets under management.
Consummation of the acquisition, which is subject to a number of
conditions including customary regulatory approvals, will likely
result in the termination of the investment advisory agreement
between EISI and the ESS Trust and each of the sub-advisory
agreements among EISI, the ESS Trust and each the ESS Trust's sub-
advisers. It is expected that the ESS Trust's Board of Trustees
will consider before that time new agreements with EISI and the
sub-advisors in respect of the ESS Trust. Any such agreements,
which will likely be substantially identical to the current
agreements, would be subject to approval by shareholders of the
ESS Trust.
This supplement should be retained with your Prospectus for the
Equi-Select Series Trust.
5344 - 3 ESST 7/9/97
