<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 33-83750
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
ROLLOVER IRA
MAY 1, 1997
PROFILE OF INCOME MANAGER (SERVICE MARK) ROLLOVER IRA
COMBINATION VARIABLE AND FIXED DEFERRED ANNUITY CERTIFICATES
This Profile is a summary of some of the more important points that you should
know and consider before purchasing a Certificate. The Certificate is more
fully described in the prospectus which accompanies this Profile.
Please read the prospectus carefully.
1. THE ANNUITY CERTIFICATE. The Rollover IRA Certificate is a deferred
individual retirement annuity (IRA) issued by Equitable Life. It is designed to
provide for the accumulation of savings and for retirement income through the
investment, during an accumulation phase, of rollover contributions, direct
transfers from other individual retirement arrangements and regular IRA
contributions. You may invest in Investment Funds where your Certificate's
value may vary up or down depending upon investment performance. You may also
invest in Guarantee Periods (also called GIROs) that when held to maturity
provide guaranteed interest rates that we have set and a guarantee of
principal. If you make any transfers or withdrawals from a GIRO before
maturity, its investment value may increase or decrease due to interest rate
changes. Earnings accumulate under your Certificate on a tax-deferred basis
until amounts are distributed. All amounts distributed are subject to income
tax.
The Investment Funds offer a potential for better returns than the interest
rates guaranteed when GIROs are held to maturity, but the Investment Funds
involve risk and you can lose money. You may make transfers among the
Investment Funds and GIROs. The value of GIROs prior to their maturity
fluctuates and you can lose money on premature transfers or withdrawals.
The Certificate provides a number of distribution methods during the
accumulation phase and for converting to annuity income, which include the
ASSURED PAYMENT OPTION, APO PLUS and other annuity benefits.
The Assured Payment Option may also be elected if you desire to start receiving
a form of lifetime income immediately. When you elect the Assured Payment
Option, your Certificate's value will be reduced to provide for guaranteed
lifetime income. You may also elect APO Plus whereby a portion of your money is
invested under the Assured Payment Option, and the remaining amount is
allocated to the Alliance Common Stock Fund or the Alliance Equity Index Fund,
as you select. Every three years during the fixed period of the Assured Payment
Option, a portion of your money in the selected Investment Fund is applied to
increase the guaranteed payments under the Assured Payment Option. The amount
accumulated under your Certificate during the accumulation phase will affect
the amount of distribution or annuity benefits you will receive.
-------------------
Income Manager and baseBUILDER are service marks of The Equitable Life
Assurance Society of the United States.
page 1
<PAGE>
2. ANNUITY PAYMENTS. You can have your Certificate's value applied to any of
the following five ANNUITY BENEFITS: (1) Life Annuity - payments for your life,
(2) Life Annuity - Period Certain - payments for your life, but with payments
continuing to the beneficiary for the balance of the 5, 10, 15 or 20 years (as
you select) if you die before the end of the selected period; (3) Life Annuity
- - Refund Certain - payments for your life, with payments continuing to the
beneficiary after your death until any remaining amount applied to this option
runs out; and (4) Period Certain Annuity - payments for a specified period of
time, usually 5, 10, 15 or 20 years, with no life contingencies. Options (2)
and (3) are also available as a Joint and Survivor Annuity - payments for your
life, and after your death, continuation of payments to the survivor for life.
Income Annuity Options (other than the Refund Certain only available on a fixed
basis) are available as a fixed annuity, or as a variable annuity, where the
dollar amount of your payments will depend upon the investment performance of
the Investment Funds. Once you begin receiving income annuity payments, you
cannot change your annuity benefit.
3. PURCHASE. You can purchase a Certificate by rolling over or transferring at
least $5,000 or more from one or more individual retirement arrangements. You
may add additional amounts of $1,000 or more at any time (subject to certain
restrictions). Regular contributions are limited to $2,000 per year, but
additional rollover or IRA transfer amounts are unlimited. Subject to certain
age restrictions, you may purchase the baseBUILDER(SM) guaranteed benefits in
the form of a Combined Guaranteed Minimum Death Benefit and Guaranteed Minimum
Income Benefit (Plan A). If you do not elect the combined benefit, the
Guaranteed Minimum Death Benefit is provided under the Certificate at a lower
charge (Plan B). Both benefits are discussed below.
4. INVESTMENT OPTIONS. You may invest in any or all of the following Investment
Funds, which invest in shares of corresponding portfolios of The Hudson River
Trust (HR Trust) and EQ Advisors Trust (EQ Trust). The portfolios are described
in the prospectuses for HR Trust and EQ Trust.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
EQUITY SERIES
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DOMESTIC EQUITY INTERNATIONAL EQUITY AGGRESSIVE EQUITY
Alliance Common Stock Alliance Global Alliance Aggressive Stock
Alliance Growth & Income Alliance International Alliance Small Cap Growth
EQ/Putnam Growth & Morgan Stanley Emerging MFS Emerging Growth
Income Value Markets Equity* Companies
MFS Research T. Rowe Price International Stock Warburg Pincus Small Company
Merrill Lynch Basic Value Equity ___________________ Value
T. Rowe Price Equity Income *Available on or about September 2,
1997.
- -----------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------
ASSET ALLOCATION SERIES FIXED INCOME SERIES
- -----------------------------------------------------------------------------------------------------------------
Alliance Conservative Investors AGGRESSIVE FIXED INCOME DOMESTIC FIXED INCOME
Alliance Growth Investors Alliance High Yield Alliance Intermediate
EQ/Putnam Balanced Government Securities
Merrill Lynch World Strategy Alliance Money Market
----------------------------------------------------------------------------
Alliance Equity Index Fund (AVAILABLE ONLY UNDER APO PLUS)
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
[Picture of mature couple]
page 2
<PAGE>
You may also invest in one or more GIROs currently maturing in years 1998
through 2007. Under the Assured Payment Option and APO Plus, GIROs currently
maturing in years 2008 through 2012 are also available.
5. EXPENSES. The Certificate has expenses as follows: There is an annual charge
expressed as a percentage of the Guaranteed Minimum Death Benefit. For Plan A
the percentage is equal to 0.45% for the 6% to Age 80 Benefit; and 0.30% for
the 6% to Age 70 Benefit. For Plan B the percentage is equal to 0.20%. As a
percentage of assets in the Investment Funds, a daily charge is deducted for
mortality and expense risks at an annual rate of 0.90%; and a daily charge is
deducted for administration expenses at an annual rate of 0.25%.
The charges for the portfolios of HR Trust range from 0.63% to 1.33% of the
average daily net assets of HR Trust portfolios, depending upon HR Trust
portfolios selected. The charges for the portfolios of EQ Trust range from
0.85% to 1.75% of the average daily net assets of EQ Trust portfolios,
depending upon the EQ Trust portfolios selected. The amounts for HR Trust are
based on restated values during 1996 (as well as an expense cap for the
Alliance Small Cap Growth portfolio) and the amounts for EQ Trust are based on
a current expense cap. The 12b-1 fees for the portfolios of HR Trust and EQ
Trust are 0.25% of the average daily net assets of HR Trust and EQ Trust,
respectively. Charges for state premium and other applicable taxes may also
apply at the time you elect to start receiving annuity payments.
A withdrawal charge is imposed as a percentage of each contribution withdrawn
in excess of a free corridor amount, or if the Certificate is surrendered. The
free corridor amount for withdrawals is 15% of the Certificate's value at the
beginning of the year, except that under the Assured Payment Option and APO
Plus it is 10%. The withdrawal charge does not apply under certain of the
distribution methods available under the Certificate. When applicable, the
withdrawal charge is determined in accordance with the table below, based on
the year a contribution is withdrawn. The year in which we receive your
contribution is "Year 1."
Year of Contribution Withdrawal
1 2 3 4 5 6 7 8+
--------------------------------------------
Percentage of
Contribution 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%
The following chart is designed to help you understand the charges in the
Certificate. The "Total Annual Charges" column shows the combined total of the
Certificate charges deducted as a percentage of assets in the Investment Funds
and the portfolio charges, as shown in the first two columns. The last two
columns show you two examples of the charges, in dollars, that you would pay
under a Certificate, and include the Guaranteed Minimum Death Benefit based
charge for the optional Combined Guaranteed Minimum Death Benefit and
Guaranteed Minimum Income Benefit equal to 0.45%. The examples assume that you
invested $1,000 in a Certificate which earns 5% annually and that you withdraw
your money: (1) at the end of year 1, and (2) at the end of year 10. For year
1, the Total Annual Charges are assessed as well as the withdrawal charge. For
year 10, the example shows the aggregate of all the annual charges assessed for
the 10 years, but there is no withdrawal charge. No charges for state premium
and other applicable taxes are assumed in the examples.
page 3
<PAGE>
<TABLE>
<CAPTION>
EXAMPLES
TOTAL ANNUAL TOTAL ANNUAL TOTAL Total Annual
CERTIFICATE PORTFOLIO ANNUAL Expenses at End of:
INVESTMENT FUND CHARGES CHARGES CHARGES (1) (2)
1 Year 10 Years
<S> <C> <C> <C> <C> <C>
HR TRUST
Alliance Conservative
Investors 1.15% 0.80% 1.95% $89.74 $275.75
Alliance Growth
Investors 1.15 0.84 1.99 90.14 279.80
Alliance Growth &
Income 1.15 0.85 2.00 90.24 280.80
Aliance Common Stock 1.15 0.66 1.81 88.35 261.52
Alliance Global 1.15 0.98 2.13 91.53 293.80
Alliance International 1.15 1.33 2.48 95.01 328.00
Alliance Aggressive
Stock 1.15 0.83 1.98 90.04 278.79
Alliance Small Cap
Growth 1.15 1.20 2.35 93.72 315.43
Alliance Money Market 1.15 0.64 1.79 88.15 259.45
Alliance Intermediate
Government
Securities 1.15 0.84 1.99 90.14 279.80
Alliance High Yield 1.15 0.91 2.06 90.84 286.83
UNDER APO PLUS
Alliance Common Stock 1.15% 0.66% 1.81% $88.35 $233.84
Alliance Equity Index 1.15 0.63 1.78 88.05 230.74
EQ TRUST
EQ/Putnam Balanced 1.15% 0.90% 2.05% $90.74 $293.88
EQ/Putnam Growth &
Income Value 1.15 0.85 2.00 90.24 288.87
MFS Emerging Growth
Companies 1.15 0.85 2.00 90.24 288.87
MFS Research 1.15 0.85 2.00 90.24 288.87
Merrill Lynch Basic
Value Equity 1.15 0.85 2.00 90.24 288.87
Merrill Lynch World
Strategy 1.15 1.20 2.35 93.72 323.50
Morgan Stanley
Emerging Markets Equity
(available on or about
September 2, 1997 1.15 1.75 2.90 99.19 375.62
T. Rowe Price Equity
Income 1.15 0.85 2.00 90.24 288.87
T. Rowe Price
International Stock 1.15 1.20 2.35 93.72 323.50
Warburg Pincus Small
Company Value 1.15 1.00 2.15 91.73 303.84
For Investment Funds investing in portfolios with less than 10 years of
operations, charges have been estimated. The charges reflect any expense waiver
or limitation. For more detailed information, see the Fee Table in the
prospectus.
page 4
<PAGE>
6. TAXES. Your earnings are not taxed until distributions are made from your
Certificate. If you are younger than age 59 1/2 when you receive any
distributions, you may be charged a 10% Federal tax penalty on the amount
received.
7. ACCESS TO YOUR MONEY. During the accumulation phase, you also may receive
distributions under a Certificate through the following WITHDRAWAL OPTIONS: (1)
Lump Sum Withdrawals of at least $1,000 may be taken at any time. Lump Sum
Withdrawals are also available under the Distribution Options. (2)
Substantially Equal Payment Withdrawals (if you are less than age 59 1/2), paid
monthly, quarterly or annually based on life expectancy; (3) Systematic
Withdrawals (if you are age 59 1/2 to 70), paid monthly, quarterly or annually,
subject to certain restrictions, including a maximum percentage of your
Certificate's value; and (4) Minimum Distribution Withdrawals (after you are
age 70 1/2), which pays the minimum amount necessary to meet minimum
distribution requirements in the Internal Revenue Code. You also have access to
your Certificate's value by surrendering the Certificate. All or a portion of
certain withdrawals may be subject to a withdrawal charge to the extent that
the withdrawal exceeds the free corridor amount. A free corridor amount does
not apply to a surrender. Withdrawals and surrenders are subject to income tax
and may be subject to a tax penalty.
8. PERFORMANCE. During the accumulation phase, your Certificate's value in the
Investment Funds may vary up or down depending upon the investment performance
of the Investment Funds you have selected. The following chart shows total
returns for certain Investment Funds for the time periods shown. The results
indicated reflect all of the charges, except the optional Combined Guaranteed
Minimum Death Benefit and Guaranteed Minimum Income Benefit Charge, the
withdrawal charge, and any charge for state premium and other applicable taxes.
If included, these charges would reduce the performance numbers shown below.
Past performance is not a guarantee of future results.
The performance data for the Alliance Conservative Investors, Alliance Growth &
Income, Alliance International, and Alliance Intermediate Government Securities
Funds and Alliance Equity Index Fund (under which portfolios of HR Trust with a
12b-l fee were not previously available) and for the other Investment Funds
prior to October 16, 1996, do not reflect the 12b-1 fee. There is no
performance data for the Alliance Small Cap Growth Fund and the Investment
Funds investing in EQ Trust portfolios, as such Investment Funds were not
available under the Certificate prior to May 1, 1997.
</TABLE>
<TABLE>
<CAPTION>
CALENDAR YEAR
INVESTMENT FUND 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987
- -----------------------------------------------------------------------------------------------------------
HR TRUST
- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Alliance Conservative
Investors 3.99% 19.02% (5.20)% 9.54% 4.50% 18.51% 5.14% 2.79% -- --
Alliance Growth Investors 11.24 24.92 (4.27) 13.95 3.69 47.19 9.39 3.53 -- --
Alliance Growth & Income 18.70 22.65 (1.72) (0.55) -- -- -- -- -- --
Alliance Common Stock 22.76 30.93 (3.26) 23.39 2.03 36.30 (9.17) 24.16 21.03% 6.21%
Alliance Global 13.20 17.45 4.02 30.60 (1.65) 29.06 (7.15) 25.29 9.61 (13.62)
Alliance International 8.54 10.34 -- -- -- -- -- -- -- --
Alliance Aggressive Stock 20.71 30.13 (4.92) 15.41 (4.28) 84.73 6.92 41.86 (0.03) 6.06
Alliance Money Market 4.05 4.53 2.82 1.78 2.37 4.97 6.99 7.93 6.09 5.41
Alliance Intermediate
Government Securities 2.57 12.03 (5.47) 9.27 4.38 11.30 -- -- -- --
Alliance High Yield 21.39 18.54 (3.90) 21.74 11.02 23.03 (2.26) 3.93 8.48 3.49
Alliance Equity Index 20.97 34.92 0.11 -- -- -- -- -- -- --
</TABLE>
page 5
<PAGE>
9. DEATH BENEFIT. If you die before amounts are applied under an annuity
benefit, the named beneficiary will be paid a death benefit. The death benefit
(except in New York ) is equal to (1) your Certificate's value in the
Investment Funds, or if greater, the Guaranteed Minimum Death Benefit, and (2)
the amount of the death benefit provided with respect to GIROs.
The Guaranteed Minimum Death Benefit is a "6% to Age 80 Benefit." We add
interest to the initial amount at 6% (3% for amounts in the Alliance Money
Market and Alliance Intermediate Government Securities Funds) through age
80 (or at your death, if earlier). The 6% interest rate will still apply
for amounts in the Alliance Money Market Fund under the Special Dollar Cost
Averaging program discussed below.
If you elect Plan A and are between the ages of 20 through 65, you may
instead elect a 6% to Age 70 Benefit, for a lower charge.
The death benefit with respect to the GIROs is equal to the amounts in the
GIROs, or if greater, the amounts in the GIROs reflecting guaranteed interest,
but not reflecting any increase due to interest rate changes.
The death benefit applicable to Certificates issued in New York is equal to the
amounts in the Investment Funds and the GIROs, or if greater, the Guaranteed
Minimum Death Benefit.
The Guaranteed Minimum Death Benefit is reset each year through age 80 to
your Certificate's value, if it is higher than the prior year's Guaranteed
Minimum Death Benefit. The Guaranteed Minimum Death Benefit at your death
will never be less than the amounts in the Investment Funds, plus the
amounts in the GIROs reflecting guaranteed interest, but not reflecting any
increase due to interest rate changes.
10. OTHER INFORMATION.
BASEBUILDER BENEFIT (PLAN A). The baseBUILDER (available for ages 20 through 75
at issue of the Certificates) is an optional benefit that combines the
Guaranteed Minimum Income Benefit and the Guaranteed Minimum Death Benefit. The
baseBUILDER benefit may be available for ages 76 and older, and is currently
not available in New York.
INCOME BENEFIT - The Guaranteed Minimum Income Benefit, as part of the
baseBUILDER, provides a minimum amount of guaranteed lifetime income for
your future. When you are ready to convert (at specified future times) your
Certificate's value to the Assured Payment Option, the amount of lifetime
income that will be provided will be the greater of (i) your Guaranteed
Minimum Income Benefit or (ii) your Certificate's current value applied at
current annuity factors. Investment performance is not guaranteed. The
Guaranteed Minimum Income Benefit provides a safety net for your future.
DEATH BENEFIT - As part of the baseBUILDER a Guaranteed Minimum Death
Benefit is provided which is the 6% to Age 80 Benefit or the 6% to Age 70
Benefit, both of which are described in "Death Benefit" above.
page 6
<PAGE>
FREE LOOK. You can examine the Certificate for a period of 10 days after you
receive it, and return it to us for a refund. The free look period is longer in
some states.
Your refund will equal your Certificate's value, reflecting any investment gain
or loss, in the Investment Funds, and any increase or decrease in the value of
any amounts held in the GIROs, through the date we receive your Certificate.
Some states or Federal income tax regulations may require that we calculate the
refund differently.
PRINCIPAL ASSURANCE. This option is designed to assure the return of your
original amount invested on a GIRO maturity date, by putting a portion of your
money in a particular GIRO, and the balance in the Investment Funds in any way
you choose. Assuming that you make no transfers or withdrawals of the portion
in the GIRO, such amount will grow to your original investment upon maturity.
DOLLAR COST AVERAGING. Special Dollar Cost Averaging - You can elect when you
apply for your Certificate to allocate your contribution to the Alliance Money
Market Fund and have it transferred from the Alliance Money Market Fund into
the other Investment Funds on a monthly basis over the first twelve months
during which time the mortality and expense risks and administration charges
will not be deducted from the Alliance Money Market Fund. General Dollar Cost
Averaging - You can elect at any time to put money into the Alliance Money
Market Fund and have a dollar amount or percentage transferred from the
Alliance Money Market Fund into the other Investment Funds on a periodic basis
over a longer period of time, and all applicable Certificate charges deducted
from the Alliance Money Market Fund will apply. Dollar cost averaging does not
assure a profit or protect against a loss should market prices decline.
REPORTS. We will provide you with an annual statement of your Certificate's
values as of the last day of each year, and three additional reports of your
Certificate's values each year. You also will be provided with written
confirmations of each financial transaction, and copies of annual and
semi-annual statements of HR Trust and EQ Trust.
You may call toll-free at 1-800-789-7771 for a recording of daily Investment
Fund values and guaranteed rates applicable to GIROs.
11. INQUIRIES. If you need more information, please contact your agent. You may
also contact us, at:
The Equitable Life Assurance Society of the United States
Income Management Group
P.O. Box 1547
Secaucus, NJ 07096-1547
Telephone 1-800-789-7771 and Fax 1-201-583-2224
[Picture of pair of eyeglasses]
[Equitable Logo]
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
Income Management Group
1290 Avenue of the Americas
New York, New York 10104
(c) 1997 The Equitable Life Assurance Society of the United States. All rights
reserved.
page 7
<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 33-83750
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
ACCUMULATOR
MAY 1, 1997
PROFILE OF INCOME MANAGER (SERVICE MARK) ACCUMULATOR
COMBINATION VARIABLE AND FIXED DEFERRED ANNUITY CERTIFICATES
This Profile is a summary of some of the more important points that you should
know and consider before purchasing a Certificate. The Certificate is more
fully described in the prospectus which accompanies this Profile.
Please read the prospectus carefully.
1. THE ANNUITY CERTIFICATE. The Accumulator Certificate is a combination
variable and fixed deferred annuity issued by Equitable Life. It is designed to
provide for the accumulation of retirement savings and for retirement income
through the investment of after-tax money during an accumulation phase. You may
invest in Investment Funds where your Certificate's value may vary up or down
depending upon investment performance. You may also invest in Guarantee Periods
(also called GIROs) that when held to maturity provide guaranteed interest
rates that we have set and a guarantee of principal. If you make any transfers
or withdrawals, the GIROs' investment value may increase or decrease until
maturity due to interest rate changes. Earnings accumulate under the
Certificate on a tax-deferred basis until amounts are distributed. Amounts
distributed under the Certificate may be subject to income tax.
The Investment Funds offer the potential for better returns than the interest
rates guaranteed under GIROs, but the Investment Funds involve risk and you can
lose money. You may make transfers among the Investment Funds and GIROs. The
value of GIROs prior to their maturity fluctuates and you can lose money on
premature transfers or withdrawals.
The Certificate provides a number of distribution methods during the
accumulation phase and for converting to annuity income. The amount accumulated
under your Certificate during the accumulation phase will affect the amount of
distribution or annuity benefits you receive.
2. ANNUITY PAYMENTS. When you are ready to start receiving income, annuity
income is available by applying your Certificate's value to the Income Manager
(Life Annuity with a Period Certain). You can also have your Certificate's
value applied to any of the following five ANNUITY BENEFITS: (1) Life Annuity -
payments for your life, (2) Life Annuity - Period Certain - payments for your
life, but with payments continuing to the beneficiary for the balance of the 5,
10, 15 or 20 years (as you select) if you die before the end of the selected
period; (3) Life Annuity - Refund Certain - payments for your life, with
payments continuing to the beneficiary after your death until any remaining
amount applied to this option runs out; and (4) Period Certain Annuity -
payments for a specified period of time, usually 5, 10, 15 or 20 years, with no
life contingencies. Options (2)
--------------------
Income Manager and baseBUILDER are service marks of The Equitable Life
Assurance Society of the United States.
page 1
<PAGE>
and (3) are also available as a Joint and Survivor Annuity - payments for your
life, and after your death, continuation of payments to the survivor for life.
Annuity benefits (other than the Refund Certain available only on a fixed
basis) are available as a fixed annuity, or as a variable annuity, where the
dollar amount of your payments will depend upon the investment performance of
the Investment Funds. Once you begin receiving annuity payments, you cannot
change your annuity benefit.
3. PURCHASE. You can purchase an Accumulator Certificate with $5,000 or more.
You may add additional amounts of $1,000 or more at any time (subject to
certain restrictions). Subject to certain age restrictions, you may purchase
the baseBUILDERSM guaranteed benefit in the form of a Combined Guaranteed
Minimum Death Benefit and Guaranteed Minimum Income Benefit (Plan A). If you do
not elect the combined benefit, the Guaranteed Minimum Death Benefit is
provided under the Certificate at a lower charge (Plan B). Both benefits are
discussed below. You choose the one that best suits your needs.
4. INVESTMENT OPTIONS. You may invest in any or all of the following Investment
Funds, which invest in shares of corresponding portfolios of The Hudson River
Trust (HR Trust) and EQ Advisors Trust (EQ Trust). The portfolios are described
in the prospectuses for HR Trust and EQ Trust.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
EQUITY SERIES
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C>
DOMESTIC EQUITY INTERNATIONAL EQUITY AGGRESSIVE EQUITY
Alliance Common Stock Alliance Global Alliance Aggressive Stock
Alliance Growth & Income Alliance International Alliance Small Cap Growth
EQ/Putnam Growth & Income Morgan Stanley Emerging MFS Emerging Growth
Value Markets Equity* Companies
MFS Research T. Rowe Price International Stock Warburg Pincus Small Company
Merrill Lynch Basic Value Equity _____________ Value
T. Rowe Price Equity Income *Available on or about September 2,
1997.
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
ASSET ALLOCATION SERIES FIXED INCOME SERIES
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Alliance Conservative Investors AGGRESSIVE FIXED INCOME DOMESTIC FIXED INCOME
Alliance Growth Investors Alliance High Yield Alliance Intermediate
EQ/Putnam Balanced Govt. Securities
Merrill Lynch World Strategy Alliance Money Market
- ------------------------------------------------------------------------------------------------------------
</TABLE>
[Picture of mature couple]
You may also invest in one or more GIROs currently maturing in years 1998
through 2007.
5. EXPENSES. The Certificate has expenses as follows: There is an annual charge
expressed as a percentage of the Guaranteed Minimum Death Benefit. For Plan A
the percentage is equal to 0.45%. For Plan B the percentage is equal to 0.20%.
As a percentage of assets in the Investment Funds, a daily charge is deducted
for mortality and expense risks at an annual rate of 0.90%; and a daily charge
is deducted for administration expenses at an annual rate of 0.25%.
page 2
<PAGE>
The charges for the portfolios of HR Trust range from 0.64% to 1.33% of the
average daily net assets of HR Trust portfolios, depending upon HR Trust
portfolios selected. The charges for the portfolios of EQ Trust range from
0.85% to 1.75% of the average daily net assets of EQ Trust portfolios,
depending upon the EQ Trust portfolios selected. The amounts for HR Trust are
based on restated values during 1996 (as well as an expense cap for the
Alliance Small Cap Growth portfolio) and the amounts for EQ Trust are based on
a current expense cap. The 12b-1 fees for the portfolios of HR Trust and EQ
Trust are 0.25% of the average daily net assets of HR Trust and EQ Trust,
respectively. Charges for state premium and other applicable taxes may also
apply at the time you elect to start receiving annuity payments.
A withdrawal charge is imposed as a percentage of each contribution withdrawn
in excess of a free corridor amount, or if the Certificate is surrendered. The
free corridor amount for withdrawals is 15% of the Certificate's value at the
beginning of the year. When applicable, the withdrawal charge is determined in
accordance with the table below, based on the year a contribution is withdrawn.
The year in which we receive your contribution is "Year 1."
Year of Contribution Withdrawal
1 2 3 4 5 6 7 8+
----------------------------------------------
Percentage of
Contribution 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%
The following chart is designed to help you understand the charges in the
Certificate. The "Total Annual Charges" column shows the combined total of the
Certificate charges deducted as a percentage of assets in the Investment Funds
and the portfolio charges, as shown in the first two columns. The last two
columns show you two examples of the charges, in dollars, that would be paid
under a Certificate, and include the Guaranteed Minimum Death Benefit based
charge for the optional Combined Guaranteed Minimum Death Benefit and
Guaranteed Minimum Income Benefit. The examples assume that you invested $1,000
in a Certificate which earns 5% annually and that you withdraw your money: (1)
at the end of year 1, and (2) at the end of year 10. For year 1, the Total
Annual Charges are assessed as well as the withdrawal charge. For year 10, the
example shows the aggregate of all the annual charges assessed for the 10
years, but there is no withdrawal charge. No charges for state premium and
other applicable taxes are assumed in the examples.
<TABLE>
<CAPTION>
EXAMPLES
TOTAL ANNUAL TOTAL ANNUAL TOTAL Total Annual
CERTIFICATE PORTFOLIO ANNUAL Expenses at End of:
INVESTMENT FUND CHARGES CHARGES CHARGES (1) (2)
1 Year 10 Years
<S> <C> <C> <C> <C> <C>
HR TRUST
- --------
Alliance Conservative
Investors 1.15% 0.80% 1.95% $89.74 $275.75
Alliance Growth
Investors 1.15 0.84 1.99 90.14 279.80
Alliance Growth &
Income 1.15 0.85 2.00 90.24 280.80
Alliance Common Stock 1.15 0.66 1.81 88.35 261.52
Alliance Global 1.15 0.98 2.13 91.53 293.80
Alliance International 1.15 1.33 2.48 95.01 328.00
Alliance Aggressive
Stock 1.15 0.83 1.98 90.04 278.79
page 3
<PAGE>
Table (continued)
EXAMPLES
TOTAL ANNUAL TOTAL ANNUAL TOTAL Total Annual
CERTIFICATE PORTFOLIO ANNUAL Expenses at End of:
INVESTMENT FUND CHARGES CHARGES CHARGES (1) (2)
1 Year 10 Years
HR TRUST (continued)
- --------
Alliance Small Cap
Growth 1.15 1.20 2.35 93.72 315.43
Alliance Money Market 1.15 0.64 1.79 88.15 259.45
Alliance Intermediate
Government 1.15 0.84 1.99 90.14 279.80
Securities
Alliance High Yield 1.15 0.91 2.06 90.84 286.83
EQ TRUST
- --------
EQ/Putnam Balanced 1.15% 0.90% 2.05% $90.74 $293.88
EQ/Putnam Growth &
Income Value 1.15 0.85 2.00 90.24 288.87
MFS Emerging Growth
Companies 1.15 0.85 2.00 90.24 288.87
MFS Research 1.15 0.85 2.00 90.24 288.87
Merrill Lynch Basic
Value Equity 1.15 0.85 2.00 90.24 288.87
Merrill Lynch World
Strategy 1.15 1.20 2.35 93.72 323.50
Morgan Stanley
Emerging Markets
Equity
(available on or about
September 2, 1997) 1.15 1.75 2.90 99.19 375.62
T. Rowe Price Equity
Income 1.15 0.85 2.00 90.24 288.87
T. Rowe Price
International Stock 1.15 1.20 2.35 93.72 323.50
Warburg Pincus Small
Company Value 1.15 1.00 2.15 91.73 303.84
</TABLE>
For Investment Funds investing in portfolios with less than 10 years of
operations, charges have been estimated. The charges reflect any expense waiver
or limitation. For more detailed information, see the Fee Table in the
prospectus.
6. TAXES. In most cases, your earnings are not taxed until distributions are
made from your Certificate. If you are younger than age 59 1/2 when you receive
any distributions, you may be charged an additional 10% Federal tax penalty on
the amount received.
page 4
<PAGE>
7. ACCESS TO YOUR MONEY. During the accumulation phase, you may receive
distributions under a Certificate through the following WITHDRAWAL OPTIONS: (1)
Lump Sum Withdrawals of at least $1,000 may be taken at any time, and (2)
Systematic Withdrawals, paid monthly, quarterly or annually, subject to certain
restrictions, including a maximum percentage of your Certificate's value. You
also have access to your Certificate's value by surrendering the Certificate.
All or a portion of a withdrawal may be subject to a withdrawal charge to the
extent that the withdrawal exceeds the free corridor amount. A free corridor
amount does not apply to a surrender. Withdrawals and surrenders may be subject
to income tax and a tax penalty. Withdrawals from GIROs prior to their maturity
may result in a market value adjustment.
8. PERFORMANCE. During the accumulation phase, your Certificate's value in the
Investment Funds may vary up or down depending upon the investment performance
of the Investment Funds you have selected. The following chart shows total
returns for certain Investment Funds for the time periods shown. The results
indicated reflect all of the charges, except the optional Combined Guaranteed
Minimum Death Benefit and Guaranteed Minimum Income Benefit Charge, the
withdrawal charge, and any charge for state premium and other applicable taxes.
If included, these charges would reduce the performance numbers shown below.
Past performance is not a guarantee of future results.
The performance data for the Alliance Conservative Investors, Alliance Growth &
Income, Alliance International, and Alliance Intermediate Government Securities
Funds (under which portfolios of HR Trust with a 12b-l fee were not previously
available) and for the other Investment Funds prior to October 16, 1996, do not
reflect the 12b-1 fee. There is no performance data for the Alliance Small Cap
Growth Fund and the Investment Funds investing in EQ Trust portfolios, as such
Investment Funds were not available under the Certificate prior to May 1, 1997.
<TABLE>
<CAPTION>
CALENDAR YEAR
INVESTMENT FUND 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987
- --------------------------------------------------------------------------------------------------------
HR TRUST
- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Alliance Conservative
Investors 3.99% 19.02% (5.20)% 9.54% 4.50% 18.51% 5.14% 2.79% -- --
Alliance Growth Investors 11.24 24.92 (4.27) 13.95 3.69 47.19 9.39 3.53 -- --
Alliance Growth & Income 18.70 22.65 (1.72) (0.55) -- -- -- -- -- --
Alliance Common Stock 22.76 30.93 (3.26) 23.39 2.03 36.30 (9.17) 24.16 21.03% 6.21%
Alliance Global 13.20 17.45 4.02 30.60 (1.65) 29.06 (7.15) 25.29 9.61 (13.62)
Alliance International 8.54 10.34 -- -- -- -- -- -- -- --
Alliance Aggressive Stock 20.71 30.13 (4.92) 15.41 (4.28) 84.73 6.92 41.86 (0.03) 6.06
Alliance Money Market 4.05 4.53 2.82 1.78 2.37 4.97 6.99 7.93 6.09 5.41
Alliance Intermediate
Government Securities 2.57 12.03 (5.47) 9.27 4.38 11.30 -- -- -- --
Alliance High Yield 21.39 18.54 (3.90) 21.74 11.02 23.03 (2.26) 3.93 8.48 3.49
</TABLE>
9. DEATH BENEFIT. If the annuitant dies before amounts are applied under an
annuity benefit, the named beneficiary will be paid a death benefit. The death
benefit (except in New York ) is equal to (1) your Certificate's value in the
Investment Funds, or if greater, the Guaranteed Minimum Death Benefit, and (2)
the amount of the death benefit provided with respect to GIROs.
page 5
<PAGE>
The Guaranteed Minimum Death Benefit is equal to a "6% to Age 80 Benefit" for
annuitant ages 20 through 79 at issue of the Certificate. For ages 80 through
83 at issue of the Certificate, the Guaranteed Minimum Death Benefit is a
return of the money you invested in the Investment Funds.
6% TO AGE 80 BENEFIT -- We add interest to the initial amount at 6% (3%
for amounts in the Alliance Money Market and Alliance Intermediate
Government Securities Funds) through the annuitant's age 80 (or at the
annuitant's death, if earlier). The 6% interest rate will still apply for
amounts in the Alliance Money Market Fund under the Special Dollar Cost
Averaging program discussed below.
The death benefit with respect to the GIROs is equal to the amounts in the
GIROs, or if greater, the amounts in the GIROs reflecting guaranteed interest,
but not reflecting any increase due to interest rate changes.
The death benefit applicable to Certificates issued in New York is equal to the
amounts in the Investment Funds and the GIROs, or if greater, the Guaranteed
Minimum Death Benefit.
For annuitant ages 20 through 79 at issue of the Certificate, the
Guaranteed Minimum Death Benefit is reset each year through the
annuitant's age 80 to the Certificate's value, if it is higher than the
prior year's Guaranteed Minimum Death Benefit. For ages 80 through 83 at
issue of the Certificate, the Guaranteed Minimum Death Benefit is a
return of the money you have invested in the Investment Funds and the
GIROs. The Guaranteed Minimum Death Benefit at the annuitant's death will
never be less than the amounts in the Investment Funds, plus the amounts
in the GIROs reflecting guaranteed interest, but not reflecting any
increase due to interest rate changes.
10. OTHER INFORMATION.
QUALIFIED PLANS. If the Certificates will be purchased by certain types of
plans qualified under Section 401(a), or 401(k) of the Internal Revenue Code,
please consult your tax adviser first. Any discussion of taxes in this profile
does not apply.
BASEBUILDER BENEFIT (PLAN A). The baseBUILDER (available for annuitant ages 20
through 75 at issue of the Certificates) is an optional benefit that combines
the Guaranteed Minimum Income Benefit and the Guaranteed Minimum Death Benefit.
The baseBUILDER benefit may be available for annuitant ages 76 and older, and
is currently not available in New York.
INCOME BENEFIT - The Guaranteed Minimum Income Benefit, as part of the
baseBUILDER, provides a minimum amount of guaranteed lifetime income for
your future. When you are ready to convert (at specified future times),
your Certificate's value to the Income Manager (Life Annuity with a
Period Certain) the amount of lifetime income that will be provided will
be the greater of (i) your Guaranteed Minimum Income Benefit or (ii) your
Certificate's current value applied at current annuity factors.
page 6
<PAGE>
Investment performance is not guaranteed. The Guaranteed Minimum Income
Benefit provides a safety net for your future.
DEATH BENEFIT - As part of the baseBUILDER a Guaranteed Minimum Death
Benefit is provided which is the 6% to Age 80 Benefit described in "Death
Benefit" above.
FREE LOOK. You can examine the Certificate for a period of 10 days after you
receive it, and return it to us for a refund. The free look period is longer in
some states.
Your refund will equal your Certificate's value, reflecting any investment gain
or loss, in the Investment Funds, and any increase or decrease in the value of
any amounts held in the GIROs, through the date we receive your Certificate.
Some states may require that we calculate the refund differently.
PRINCIPAL ASSURANCE. This option is designed to assure the return of your
original amount invested on a GIRO maturity date, by putting a portion of your
money in a particular GIRO, and the balance in the Investment Funds in any way
you choose. Assuming that you make no transfers or withdrawals of the portion
in the GIRO, such amount will grow to your original investment upon maturity.
DOLLAR COST AVERAGING. Special Dollar Cost Averaging - You can elect when you
apply for your Certificate to allocate your contribution to the Alliance Money
Market Fund and have it transferred from the Alliance Money Market Fund into
the other Investment Funds on a monthly basis over the first twelve months
during which time the mortality and expense risks and administration charges
will not be deducted from the Alliance Money Market Fund. General Dollar Cost
Averaging - You can elect at any time to put money into the Alliance Money
Market Fund and have a dollar amount or percentage transferred from the
Alliance Money Market Fund into the other Investment Funds on a periodic basis
over a longer period of time, and all applicable Certificate charges deducted
from the Alliance Money Market Fund will apply. Dollar cost averaging does not
assure a profit or protect against a loss should market prices decline.
REPORTS. We will provide you with an annual statement of your Certificate's
values as of the last day of each year, and three additional reports of your
Certificate's values each year. You also will be provided with written
confirmations of each financial transaction, and copies of annual and
semi-annual statements of HR Trust and EQ Trust.
You may call toll-free at 1-800-789-7771 for a recording of daily Investment
Fund values and guaranteed rates applicable to GIROs.
11. INQUIRIES. If you need more information, please contact your agent. You may
also contact us at:
The Equitable Life Assurance Society of the United States
Income Management Group
P.O. Box 1547
Secaucus, NJ 07096-1547
Telephone 1-800-789-7771 and Fax 1-201-583-2224
[Picture of pair of eyeglasses]
[Equitable Logo]
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
Income Management Group
1290 Avenue of the Americas
New York, New York 10104
(c) 1997 The Equitable Life Assurance Society of the United States. All rights
reserved.
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