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. Also as of
January 2, 1998, DSI is delegating the day-to-day management of the Money
Market Portfolio, Mortgage-Backed Securities Portfolio and Advantage Portfolio
to ING Investment Management, LLC ("IIM LLC"), another affiliate, who has
agreed to accept the sub-advisory duties for these three portfolios of the
Trust. The EISI personnel who managed these portfolios have moved to IIM LLC
and no changes in investment personnel are anticipated for any portfolio.
This supplement should be retained with your Prospectus for the Equi-Select
Series Trust.
5569-DSI 1/98
