EQUI SELECT SERIES TRUST, 497, 1998-01-02

EQUI SELECT SERIES TRUST
497, 1998-01-02

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                                                   File No. 033-79166, 811-8522
                                                   Filed under Rule 497(e)
 The Equi-Select Series Trust

                                
                           Prospectus Supplement
                                
                               January 2, 1998

                                   to the 
                                
                  Prospectus dated May 1, 1996 as Supplemented
              June 26, 1997, July 9, 1997 and October 24, 1997 for
                                
                       The Equi-Select Series Trust


     Effective  January 2, 1998,  Directed  Services, Inc.("DSI"), an affiliate
of  Equitable  Investment  Services, Inc.  ("EISI"), is  assuming the  advisory
responsibilities of EISI, under the Investment Advisory Agreement dated October
24, 1997.  In connection  with this  action, DSI  is also  assuming all  respon
- -sibilites for the  management  of sub-advisors  pursuant  to the terms  of the
Sub-Advisory Agreements with each sub-advisor of the Equi-Select Series Trust's
(the "Trust") portfolios.  EISI's management personnel  are  becoming a part of
DSI and  will continue the oversight of portfolio management.  

This supplement  should be retained  with your Prospectus  for the Equi-Select
Series Trust.



G3059-ES-DSI 1/98