FIRST INVESTORS SPECIAL SITUATIONS
GROWTH & TREASURY SECURITIES TRUST, SERIES 1
Supplement to the Prospectus dated June 27, 1994
Notwithstanding anything to the contrary in the Prospectus, the
following financial information will supplement the information
contained in the chart on page 12.
<TABLE>
<CAPTION>
Year Ended December 31
Per Share Data 1994
________
<S> <C>
Net Asset Value - Beginning of Period $18.00
========
Income from Investment Operations:
Net Investment Income (Loss){ (.04)
Net Realized and Unrealized Gain
(Loss) on Investments (.62)
________
Total from Investment Operations (.66)
========
Less Distributions From:
Net Investment Income -
Net Realized Gain on Investments .91
________
Total Distributions .91
========
Net Asset Value - End of Period $16.43
========
Total Return[] (3.66)%
</TABLE>
<TABLE>
<CAPTION>
Ratios/Supplemental Data
<S> <C>
Net Assets - End of Period (in thousands) 89,906
Ratio of Expenses to Average Net Assets{ 1.65
Ratio of Net Investment Income to
Average Net Assets{ (.26)%
Ratio of Expenses to Average Net Assets Before
Expenses Waived or Assumed 1.90%
Ratio of Net Investment Income to Average Net
Assets Before Expenses Waived or Assumed (.51)%
Portfolio Turnover Rate 53%
</TABLE>
___________________
[FN]
[] Calculated without sales charge.
{ Net of expenses waived or assumed by the investment adviser.
June 5, 1995
