File No. 033-79166, 811-8522
Filed under Rule 497(e)
THE EQUI-SELECT SERIES TRUST
PROSPECTUS SUPPLEMENT
JANUARY 5, 1998
SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 1997
AS AMENDED 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
responsibilities 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 Equi-Select
