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MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST
SUPPLEMENT TO PROSPECTUS DATED JUNE 21, 1995
The following replaces the last two sentences appearing under the caption
"Management--Advisers--PACE Large Company Growth Equity Investments" on page 48
of the Prospectus:
Effective July 17, 1995, Patricia W. Chadwick, will be primarily
responsible for the day-to-day management of PACE Large Company Growth Equity
Investments. Ms. Chadwick has been a managing director of Chancellor since 1987
and a senior portfolio manager for growth equity and balanced accounts at
Chancellor since 1982. In addition, Ms. Chadwick is head of Chancellor's Equity
Strategy Committee. Ms. Chadwick has been with Chancellor and its predecessor,
Citicorp Investment Management, Inc., since 1980.
Dated: July 20, 1995
