EQUITY INVESTOR FUND SEL SER DEFINED TECH PORT DEF ASSET FDS, 487, 1998-08-25

EQUITY INVESTOR FUND SEL SER DEFINED TECH PORT DEF ASSET FDS
487, 1998-08-25

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AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST 25, 1998

REGISTRATION NO. 33-61205
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------------------------

AMENDMENT NO. 4

TO
FORM S-6
------------------------------------------
FOR REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OF SECURITIES OF UNIT INVESTMENT
TRUSTS REGISTERED ON FORM N-8B-2
------------------------------------------
A. EXACT NAME OF TRUST:
EQUITY INVESTOR FUND
SELECT SERIES
DEFINED TECHNOLOGY PORTFOLIO
DEFINED ASSET FUNDS

B. NAMES OF DEPOSITOR:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
C. COMPLETE ADDRESSES OF DEPOSITOR'S PRINCIPAL EXECUTIVE OFFICES:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEFINED ASSET FUNDS
P.O. BOX 9051
PRINCETON, NJ 08543-9051

D. NAME AND COMPLETE ADDRESS OF AGENT FOR SERVICE:

TERESA KONCICK, ESQ.
P.O. BOX 9051
PRINCETON, NJ 08543-9051 COPIES TO:
PIERRE DE SAINT PHALLE,
ESQ.
450 LEXINGTON AVENUE
NEW YORK, NY 10017

E. TITLE OF SECURITIES BEING REGISTERED:
An indefinite number of Units of Beneficial Interest pursuant to Rule 24f-2
promulgated under the Investment Company Act of 1940, as amended.
F. APPROXIMATE DATE OF PROPOSED SALE TO PUBLIC:
As soon as practicable after the effective date of the Registration Statement.
F. PROPOSED MAXIMUM OFFERING PRICE TO THE PUBLIC OF THE SECURITIES BEING
REGISTERED: Indefinite

/ x / Check box if it is proposed that this registration statement shall become
effective upon filing on August 25, 1998 pursuant to Rule 487.

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DEFINED ASSET FUNDSSM
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EQUITY INVESTOR FUND The objective of this Defined Fund is capital
SELECT SERIES appreciation by investing for a period of about
DEFINED TECHNOLOGY PORTFOLIO one year in a portfolio of common stocks believed
(A UNIT INVESTMENT to have potential for outperforming its benchmark,
TRUST) the Merrill Lynch 100 Technology IndexSM (the
- ------------------------------'Merrill Lynch 100' or the 'Index') without
increasing the price volatility of the Portfolio.
This Portfolio is designed for investors who want
to invest a portion of their assets in technology
stocks, with the opportunity to change the focus
of their equity investment by exchanging units of
this Portfolio into units of other equity Defined
Funds at a reduced sales charge if their views on
this investment change.
The Portfolio is composed of aggressive growth
stocks that are subject to extreme price
volatility. Therefore, the Portfolio may be
considered speculative and may be appropriate only
for those investors able and willing to assume
this risk and by those who are not seeking
preservation of capital or a high level of current
income. Because the Portfolio is focused on only
one industry sector, the Portfolio should be
considered as a vehicle for investing a portion of
your assets and not as a complete equity
investment program.
The value of units will fluctuate with the value
of the common stocks in the Portfolio and there
can be no assurance that the Portfolio will
achieve its objective.
Minimum purchase: $250.

-------------------------------------------------
THESE SECURITIES HAVE NOT BEEN APPROVED OR
DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION OR ANY STATE SECURITIES COMMISSION NOR
HAS THE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY
OF THIS DOCUMENT. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
Inquiries should be directed to the Trustee at
SPONSOR: 1-800-221-7771.

Merrill Lynch, Prospectus dated August 25, 1998.

Pierce, Fenner & Smith INVESTORS SHOULD READ THIS PROSPECTUS CAREFULLY
Incorporated AND RETAIN IT FOR FUTURE REFERENCE.

<PAGE>
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Defined Asset FundsSM
Defined Asset Funds is America's oldest and largest family of unit investment
trusts, with over $115 billion sponsored in the last 25 years. Each Defined
Asset Fund is a portfolio of preselected securities. The portfolio is divided
into 'units' representing equal shares of the underlying assets. Each unit
receives an equal share of income and principal distributions.
Defined Asset Funds offer several defined 'distinctives'. You know in advance
what you are investing in and that changes in the portfolio are limited - a
defined portfolio. Most defined bond funds pay interest monthly - defined
income. The portfolio offers a convenient and simple way to invest - simplicity
defined.
Your financial professional can help you select a Defined Asset Fund to meet
your personal investment objectives. Our size and market presence enable us to
offer a wide variety of investments. The Defined Asset Funds family offers:
o Municipal bond portfolios
o Corporate bond portfolios
o Government bond portfolios
o Equity portfolios
o International bond and equity portfolios
The terms of Defined Funds are as short as one year or as long as 30 years.
Special defined bond funds are available including: insured funds, double and
triple tax-free funds and funds with 'laddered maturities' to help protect
against changing interest rates. Defined Asset Funds are offered by prospectus
only.
- ----------------------------------------------------------------
Defined Technology Portfolio
- ----------------------------------------------------------------
The Portfolio contains 100 common stocks selected through the application of a
quantitative model developed by Bernard V. Tew, Ph.D., chairman of Q.E.D.
Investments, the Portfolio Consultant. The Model is designed to identify those
technology stocks that have a strong potential for capital appreciation and to
provide investment results that exceed the Merrill Lynch 100. The Merrill Lynch
100 is an equally weighted index of the 100 largest technology stocks by market
capitalization and trading volume. The Defined Technology Portfolio consists of
the same stocks, reweighted in the Portfolio to enhance investment results. This
Select Series permits investors to buy and hold the Portfolio for approximately
one year. At the end of the year, the Portfolio will be liquidated and the Model
reapplied to select a new portfolio. Each Select Portfolio is designed to be
part of a longer term strategy and the Sponsor believes that more consistent
results are likely if the strategy is followed for at least three to five years.
So long as the Sponsor continues to offer new portfolios, investors will have
the option to reinvest into a new portfolio at a reduced sales charge. The
Sponsor reserves the right, however, not to offer a new portfolio.
The Model was designed to identify stocks with similar returns and dissimilar
price movement (low correlation). To implement this strategy the Portfolio
Consultant compiles the historical price data of all securities that comprise
the Merrill Lynch 100. Using this historical price data and incorporating risk
reduction techniques, the Portfolio Consultant sets the stock weightings that
the Portfolio Consultant believes will have a return greater than, but highly
correlated with, the return of the Index. The Portfolio Consultant will
rebalance the Portfolio on a yearly basis. (See Portfolio Description in Part
B.) Because there is no active management of the Portfolio, the Sponsor
anticipates that the Portfolio will remain unchanged over its one-year life
despite adverse developments concerning an issuer, an industry group or the
economy or stock market generally.
If your view of the technology sector changes you may exchange Units of this
Portfolio for Units of other Focus or Select Series or certain other selected
Equity Investor Series.
- ----------------------------------------------------------------
Defining Your Portfolio
- ----------------------------------------------------------------
The Portfolio is concentrated in technology stocks although it is diversified
among various industry groups.
Based upon the principal business of each issuer and current market values, the
following industry groups are represented in the Portfolio:

APPROXIMATE
PORTFOLIO
PERCENTAGE
/ / Software 19%
/ / Telecommunication Equipment/Services 14%
/ / Electronic Equipment 11%
/ / Electronic Component-Semiconductors 11%
/ / Networking Products 10%
/ / Computers 9%
/ / Data Processing/Management 7%
/ / Internet Software/Services 6%
/ / Computers Services 5%
/ / Memory Devices 3%
/ / Commercial Services 3%
/ / Distribution/Wholesale 1%
/ / Internet Retail 1%

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Defining Your Risks
- ----------------------------------------------------------------
The Portfolio is concentrated in technology stocks.
10 issuers are foreign issuers. (See Risk Factors and Taxes in Part B.)

There can be no assurance that the Portfolio will meet its objective over its
one-year life or that portfolios selected through re-application of the Model
during consecutive one-year periods will meet their objectives. Current dividend
income is not a criterion for the selection of stocks for the Portfolio. The
Portfolio may not reflect any investment recommendations of the Sponsor or the
Portfolio Consultant, and one or more of the stocks in the Portfolio may, from
time to time, be subject to sell recommendations from the Sponsor or the
Portfolio Consultant. The Portfolio is not designed to be a complete equity
investment program.
Unit price fluctuates with the value of the Portfolio, which could be affected
by changes in the financial condition of
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the issuers, changes in the technology industry, movements in stock prices
generally, the impact of the Sponsor's purchase and sale of securities for the
Portfolio and other factors. Additionally, equity markets have been at
historically high levels and no assurance can be given that these levels will
continue. Therefore, there is no guarantee that the objective of the Portfolio
will be achieved.

Unlike a mutual fund, the Portfolio is not actively managed and the Sponsor
receives no management fee. Therefore, the adverse financial condition of an
issuer or any market movement in the price of a security will not require the
sale of securities from the Portfolio or mean that the Sponsor will not continue
to purchase the security in order to create additional Units. Although the
Sponsor may instruct the Trustee to sell securities under certain limited
circumstances, given the investment philosophy of the Portfolio, the Sponsor is
not likely to do so. (See Portfolio Supervision in Part B.) Investors should be
aware that the Portfolio is generally fixed and because the Merrill Lynch 100 is
rebalanced annually in December, or may otherwise change, the stocks in the
Portfolio may not always reflect the current Merrill Lynch 100. Although a
subsequent application of the Model might yield different stock weightings, the
proportional relationship will remain the same as when originally selected.
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Defining Your Investment
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PUBLIC OFFERING PRICE PER 1,000 UNITS $999.94
The Public Offering Price as of August 24, 1998, the business day prior to the
initial date of deposit, is based on the aggregate value of the underlying
securities ($450,234.06) and any cash held to purchase securities, divided by
the number of units outstanding (454,781) times 1,000, plus the initial sales
charge. The Public Offering Price includes the estimated organization costs of
$2.44 per 1,000 Units, to which no sales charge has been applied. Units offered
on the Initial Date of Deposit will also be priced at $999.94 per 1,000 Units
although the aggregate value of the underlying securities, cash amount and
number of Units may vary. The Public Offering Price on any subsequent date will
vary. The underlying securities are valued by the Trustee on the basis of their
closing sale prices at 4:00 p.m. Eastern time on every business day.
SALES CHARGES
The total sales charge for this investment combines an initial up-front sales
charge and a deferred sales charge that will be deducted from the net asset
value of the Portfolio on December 15, 1998, January 1 and January 15, 1999, and
thereafter on the first of each month through August 1, 1999.
ROLLOVER/EXCHANGE OPTION
You may exchange your units of this Portfolio for units of any other Focus or
Select Series, or certain other selected Equity Investor Series, any time prior
to termination of this Portfolio. If you continue to hold your units, when this
Portfolio is about to be liquidated you may have the option to roll your
proceeds into the next Select or Focus Series, if one is available. If you
notify your financial professional by August 27, 1999, your units will be
redeemed and your proceeds will be reinvested in units of the next portfolio, if
available. If you decide not to roll over your proceeds, you will receive a cash
distribution after termination. Of course you can sell or redeem your Units at
any time prior to termination.

DISTRIBUTIONS
Any income will be distributed to investors upon termination of the Portfolio.
TAXES
In the opinion of counsel, you will be considered to have received all dividends
when those dividends are received by the Portfolio, even though a portion of the
dividend payments may be used to pay expenses of the Portfolio. (See Taxes in
Part B.)
TAX BASIS REPORTING

The proceeds received when you sell this investment will reflect the deduction
of the deferred sales charge and, after the initial offering period, the charge
for organizational expenses. In addition, the statement and the relevant tax
reporting forms you receive at year-end will be based upon the amount paid to
you (net of the deferred sales charge or the charge for organizational
expenses). Accordingly, you should not increase your basis in your units by the
deferred sales charge or the charge for organizational expenses.

MANDATORY TERMINATION DATE
The Portfolio will terminate by September 24, 1999. The final distribution will
be made within a reasonable time afterward. The Portfolio may be terminated
earlier if its value is less than 40% of the value of the securities when
deposited.
SPONSOR'S PROFIT OR LOSS
The Sponsor's profit or loss from the Portfolio will include the receipt of
applicable sales charges, fluctuations in the Public Offering Price or secondary
market price of units, a loss of $661.30 on the initial deposit of the
securities and a gain or loss on subsequent deposits of securities (see
Sponsor's and Underwriters' Profits in Part B).
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Defining Your Costs
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SALES CHARGE
First-time investors pay a maximum sales charge of 2.75% of the offering price,
of which $17.50 per 1,000 units is deferred. For example, on a $1,000
investment, 2.75% less $17.50 (or about 1%) is deducted when they buy and the
remaining $990 is invested in the securities. The initial sales charge is
reduced on purchases of $50,000 or more, as described in Part B. In addition, a
deferred sales charge of $1.75 per 1,000 units will be deducted from the
Portfolio's net asset value in ten installments ($17.50 total). This deferred
method of payment keeps more of your money invested over a longer period of
time. If you exchange units of this Portfolio for units of another Focus or
Select Series or certain other selected Equity Investor Series or roll the
proceeds of your investment into a new portfolio, you will not be subject to the
initial charge otherwise payable upon an investment in the new portfolio. (See
How To Buy Units--Public Offering Price.)
Although this is a unit investment trust rather than a mutual fund, the
following information is presented to permit a comparison of fees and an
understanding of the direct or indirect costs and expenses that you pay. On a
$1,000 investment for 1,000 Units, you will pay the following charges:

As a %
of Initial Public
Offering Price
-----------------
Initial Sales Charge 1.00%
Deferred Sales Charge per Year 1.75%
Maximum Sales Charge 2.75%

ESTIMATED ANNUAL FUND OPERATING EXPENSES

As a % Amount per
of Net Assets 1,000 Units
----------------- --------------
Trustee's Fee .091% $ 0.90
Portfolio Supervision,
Bookkeeping and Administrative
Fees .046% $ 0.45
Other Operating Expenses .033% $ 0.33
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TOTAL .170% $ 1.68

These estimates do not include the costs of purchasing and selling the
underlying Stocks.
ORGANIZATION COSTS
Investors will bear all or a portion of the expenses incurred in organizing the
Portfolio--including costs of preparing the registration statement, the trust
indenture and other closing documents, registering units with the SEC and the
states, and the initial audit of the Portfolio--as is common for mutual funds.
Estimated organization costs shown below are included in the public offering
price and will be deducted from the assets of the Portfolio as of the close of
the initial offering period.

AMOUNT
PER 1,000
UNITS
-------------
Estimated Organization Costs $ 2.44

COSTS OVER TIME
You would pay the following cumulative expenses on a $1,000 investment, assuming
5% annual return on the investment throughout the indicated periods and
redemption at the end of the period:

1 Year 3 Years 5 Years 10 Years
$32 $78 $126 $259

Although the Portfolio has a term of only one year and is a unit investment
trust rather than a mutual fund, this information is presented to permit a
comparison of fees, assuming the investment is rolled over into a new portfolio
subject only to the deferred sales charge and fund expenses.
The example uses a 5% annual rate of return as mandated by SEC regulations
applicable to mutual funds. Reductions to the repurchase and cash redemption
prices in the secondary market to recoup the costs of liquidating securities to
meet redemption (described below) have not been reflected. The example should
not be considered a representation of past or future expenses or annual rates of
return; the actual expenses and annual rates of return may be more or less than
the example.
REDEEMING OR SELLING YOUR INVESTMENT

You may redeem or sell your units at any time prior to the termination of the
Portfolio. Your price will be based on the then current net asset value. The
redemption and secondary market repurchase price as of August 24, 1998 was
$972.50 per 1,000 units ($17.50 per 1,000 units less than Net Asset Value). This
price reflects deductions of the deferred sales charge which declines over the
life of the Portfolio ($17.50 initially). If you redeem or sell your units
before termination of the Portfolio, you will pay the remaining balance of the
deferred sales charge. As of the close of the initial offering period these
prices will be reduced to reflect the estimated organization costs shown above.

After the initial offering period, the repurchase and cash redemption prices for
units may be reduced to reflect the estimated costs of liquidating securities to
meet the redemption, currently estimated at $0.75 per 1,000 units. If you
reinvest in a new portfolio, you will pay your share of any brokerage
commissions on the sale of underlying securities when your units are liquidated
during the rollover.
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REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsor, Trustee and Holders of Equity Investor Fund, Select Series, Defined
Technology Portfolio, Defined Asset Funds (the 'Portfolio'):

We have audited the accompanying statement of condition and the defined
portfolio included in the prospectus of the Portfolio as of August 25, 1998.
This financial statement is the responsibility of the Trustee. Our
responsibility is to express an opinion on this financial statement based on our
audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statement is free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statement. Our procedures included
confirmation of an irrevocable letter of credit deposited for the purchase of
securities, as described in the statement of condition, with the Trustee. An
audit also includes assessing the accounting principles used and significant
estimates made by the Trustee, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.

In our opinion, the financial statement referred to above presents fairly, in
all material respects, the financial position of the Portfolio as of August 25,
1998 in conformity with generally accepted accounting principles.

DELOITTE & TOUCHE LLP
New York, N.Y.

August 25, 1998
STATEMENT OF CONDITION AS OF AUGUST 25, 1998
TRUST PROPERTY

Investments--Contracts to purchase Securities(1).........$ 450,234.06
--------------------
Total.........................................$ 450,234.06
--------------------
--------------------
LIABILITY AND INTEREST OF HOLDERS
Reimbursement of Sponsor for organization
expenses(2)............................................$ 1,109.67
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Subtotal...............................................$ 1,109.67
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Interest of Holders of 454,781 Units of fractional
undivided interest outstanding(3):
Cost to investors(4)...................................$ 454,753.71
Gross underwriting commissions and organization
expenses(2)(5)......................................... (5,629.32)
--------------------
Subtotal...............................................$ 449,124.39
--------------------
Total.........................................$ 450,234.06
--------------------
--------------------

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(1) Aggregate cost to the Portfolio of the securities listed under
Defined Portfolio determined by the Trustee at 4:00 p.m., Eastern time on August
24, 1998. The contracts to purchase securities are collateralized by an
irrevocable letter of credit which has been issued by DBS Bank, New York Branch,
in the amount of $450,895.36 and deposited with the Trustee. The amount of the
letter of credit includes $450,234.06 for the purchase of securities.
(2) A portion of the Public Offering Price consists of securities in
an amount sufficient to pay all or a portion of the costs incurred in
establishing the Portfolio. These costs have been estimated at $2.44 per 1,000
Units. A distribution will be made as of the close of the initial offering
period to an account maintained by the Truste from which the organization
expenses obligation of the investors to the Sponsor will be satisfied.
(3) Because the value of securities at the evaluation time on the
Initial Date of Deposit may differ from the amounts shown in this statement of
condition, the number of Units offered on the Initial Date of Deposit will be
adjusted from the initial number of Units to maintain the $999.94 per 1,000
Units offering price only for that day. The Public Offering Price on any
subsequent day will vary.
(4) Aggregate public offering price computed on the basis of the
value of the underlying securities at 4:00 p.m., Eastern time on August 24,
1998.
(5) Assumes the maximum initial sales charge per 1,000 units of 1.00%
of the Public Offering Price. A deferred sales charge of $1.75 per 1,000 Units
is payable on December 15, 1998, January 1 and 15, 1999, and thereafter on the
1st of each month through August 1, 1999. Distributions will be made on behalf
of investors to an account maintained by the Trustee from which the deferred
sales charge obligation of the investors to the Sponsor will be satisfied.

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Defined Portfolio
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Equity Investor Fund
Select Series

Defined Technology Portfolio August 25, 1998
Defined Asset Funds
<TABLE><CAPTION>

PERCENTAGE PRICE
TICKER OF PER SHARE COST
NAME OF ISSUER SYMBOL PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
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<S> <C> <C> <C> <C>
1. 3Com Corporation COMS 0.25% $ 30.0625 $ 1,112.31
2. Adaptec, Inc. ADPT 1.10 12.5625 4,949.63
3. ADC Telecommunications, Inc. ADCT 1.24 28.0000 5,600.00
4. Adobe Systems, Inc. ADBE 1.12 24.4375 5,058.56
5. Advanced Fibre Communications,
Inc. AFCI 1.01 10.5625 4,531.31
6. Advanced Micro Devices, Inc. AMD 1.18 17.3125 5,297.63
7. Alcatel Alsthom+ ALA 1.42 36.0000 6,372.00
8. Altera Corporation ALTR 0.24 37.6875 1,092.94
9. Amazon.com, Inc. AMZN 1.02 134.7500 4,581.50
10. America Online, Inc. AOL 2.63 108.8125 11,860.56
11. American Power Conversion
Corporation APCC 1.21 33.0625 5,455.31
12. AMP, Inc. AMP 1.60 38.7500 7,207.50
13. Analog Devices, Inc. ADI 0.25 18.4375 1,124.69
14. Andrew Corporation ANDW 1.07 15.4375 4,816.50
15. Apple Computer, Inc. AAPL 1.38 41.1875 6,219.31
16. Applied Materials, Inc. AMAT 0.25 30.6875 1,104.75
17. Ascend Communications, Inc. ASND 1.65 44.6250 7,407.75
18. ASM Lithography Holding N.V.+ ASMLF 1.00 23.8750 4,488.50
19. At Home Corporation ATHM 1.00 44.3750 4,481.88
20. Atmel Corporation ATML 1.09 8.6875 4,908.44
21. Autodesk, Inc. ADSK 1.10 24.1250 4,969.75
22. Automatic Data Processing, Inc. AUD 0.25 70.0000 1,120.00
23. Baan Company, N.V.+ BAANF 1.49 32.4375 6,714.56
24. Bay Networks, Inc. BAY 1.49 32.0000 6,720.00
25. BMC Software, Inc. BMCS 0.25 49.6250 1,141.38
</TABLE>

- ------------------------------------
(1) Based on Cost to Portfolio.
(2) Valuation by the Trustee made on the basis of closing sale prices at the
evaluation time on August 24, 1998, the initial date of deposit. The value
of the securities on any subsequent date will vary.

+ This is a foreign corporation; dividends, if any, will be subject to
withholding taxes (see Risk Factors--Foreign Issuers, Taxes in Part B.)
The securities were acquired on August 24, 1998 and are represented entirely by
contracts to purchase the securities. The Sponsor may have acted as underwriter,
manager or comanager of a public offering of the securities in this Portfolio
during the last three years. Affiliates of the Sponsor may serve as specialists
in the securities in this Portfolio on one or more stock exchanges and may have
a long or short position in any of these securities or in options on any of
them, and may be on the opposite side of public orders executed on the floor of
an exchange where the securities are listed. An officer, director or employee of
the Sponsor may be an officer or director of one or more of the issuers of the
securities in the Portfolio. The Sponsor may trade for its own account as an
odd-lot
dealer, market maker, block positioner or arbitrageur in any of the securities
or in options on them. The Sponsor, its affiliates, directors, elected officers
and employee benefits programs may have either a long or short position in any
securities or in options on them.

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Defined Portfolio
- --------------------------------------------------------------------------------
Equity Investor Fund
Select Series

Defined Technology Portfolio August 25, 1998
Defined Asset Funds (continued)
<TABLE><CAPTION>

PERCENTAGE PRICE
TICKER OF PER SHARE COST
NAME OF ISSUER SYMBOL PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
26. Cabletron Systems, Inc. CS 1.12% $ 8.9375 $ 5,049.69
27. Cadence Design Systems, Inc. CDN 0.25 27.1250 1,112.13
28. Cambridge Technology Partners,
Inc. CATP 1.20 42.8750 5,402.25
29. Ceridian Corporation CEN 1.27 57.6250 5,704.88
30. CIENA Corporation CIEN 1.00 36.1250 4,515.63
31. Cisco Systems, Inc. CSCO 3.00 103.0000 13,493.00
32. Citrix Systems, Inc. CTXS 1.20 65.3125 5,420.94
33. Compaq Computer Corporation CPQ 0.25 35.5000 1,136.00
34. Computer Associates
International, Inc. CA 0.25 33.9375 1,119.94
35. Computer Sciences Corporation CSC 0.26 61.0625 1,160.19
36. Compuware Corporation CPWR 1.12 56.2500 5,062.50
37. Creative Technology Limited+ CREAF 1.07 11.1250 4,828.25
38. Dell Computer Corporation DELL 2.99 119.1250 13,461.13
39. DSC Communications Corporation DIGI 1.24 28.50000 5,586.00
40. ECI Telecommunications Limited+ ECILF 1.18 33.0000 5,313.00
41. Electronic Arts, Inc. ERTS 1.19 48.0000 5,376.00
42. Electronic Data Systems
Corporation EDS 2.39 38.8125 10,751.06
43. EMC Corporation EMC 0.25 56.6250 1,132.50
44. First Data Corporation FDC 1.81 24.6875 8,146.88
45. Fiserv, Inc. FISV 0.65 43.0000 2,924.00
46. FORE Systems, Inc. FORE 1.15 23.8750 5,180.88
47. Gartner Group, Inc. (Class A) GART 1.21 27.50000 5,445.00
48. General Instrument Corporation GIC 1.01 27.5000 4,565.00
49. HBO & Company HBOC 1.81 28.8750 8,142.75
50. Hewlett-Packard Company HWP 0.25 54.2500 1,139.25
</TABLE>

+ This is a foreign corporation; dividends, if any, will be subject to
withholding taxes (see Risk Factors--Foreign Issuers, Taxes in Part B.)
The securities were acquired on August 24, 1998 and are represented entirely by
contracts to purchase the securities. The Sponsor may have acted as underwriter,
manager or comanager of a public offering of the securities in this Portfolio
during the last three years. Affiliates of the Sponsor may serve as specialists
in the securities in this Portfolio on one or more stock exchanges and may have
a long or short position in any of these securities or in options on any of
them, and may be on the opposite side of public orders executed on the floor of
an exchange where the securities are listed. An officer, director or employee of
the Sponsor may be an officer or director of one or more of the issuers of the
securities in the Portfolio. The Sponsor may trade for its own account as an
odd-lot dealer, market maker, block positioner or arbitrageur in any of the
securities or in options on them. The Sponsor, its affiliates, directors,
elected officers and employee benefits programs may have either a long or short
position in any securities or in options on them.

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Defined Portfolio
- --------------------------------------------------------------------------------
Equity Investor Fund
Select Series

Defined Technology Portfolio August 25, 1998
Defined Asset Funds (continued)
<TABLE><CAPTION>

PERCENTAGE PRICE
TICKER OF PER SHARE COST
NAME OF ISSUER SYMBOL PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
51. Intel Corporation INTC 3.01% $ 84.6250 $ 13,540.00
52. International Business Machines
Corporation IBM 3.03 128.5625 13,627.63
53. Intuit, Inc. INTU 1.18 48.8750 5,327.38
54. Iomega Corporation IOM 1.09 4.8125 4,908.75
55. Jabil Circuit, Inc. JBL 1.09 31.5625 4,892.19
56. KLA-Tencor Corporation KLAC 0.24 28.8125 1,094.88
57. Lexmark International Group,
Inc. (Class A) LXK 1.32 69.0000 5,934.00
58. Linear Technology Corporation LLTC 0.25 60.1250 1,142.38
59. LSI Logic Corporation LSI 0.25 14.5625 1,121.31
60. Lucent Technologies, Inc. LU 0.99 87.5000 4,462.50
61. Maxim Integrated Products, Inc. MXIM 0.25 33.1875 1,128.38
62. Micron Technology, Inc. MU 1.45 30.0000 6,540.00
63. Microsoft Corporation MSFT 2.99 110.3750 13,465.75
64. Molex, Inc. MOLX 1.13 25.1250 5,100.38
65. Motorola, Inc. MOT 0.25 49.2500 1,132.75
66. National Semiconductor
Corporation NSM 1.06 11.0000 4,785.00
67. Netscape Communications
Corporation NSCP 1.18 27.5000 5,335.00
68. Network Associates, Inc. NETA 1.38 40.7500 6,194.00
69. Newbridge Networks Corporation+ NN 1.24 23.6250 5,599.13
70. Nextel Communications, Inc.
(Class A) NXTL 1.42 26.6250 6,390.00
71. Nokia Corporation+ NOKA 0.26 77.3125 1,159.69
72. Northern Telecom Limited+ NT 0.25 53.8750 1,131.38
73. Novell, Inc. NOVL 1.29 11.4375 5,798.81
74. Oracle Corporation ORCL 0.25 24.2500 1,115.50
75. Parametric Technology
Corporation PMTC 1.23 13.6250 5,545.38
</TABLE>

A-8
<PAGE>
- --------------------------------------------------------------------------------
Defined Portfolio
- --------------------------------------------------------------------------------
Equity Investor Fund
Select Series

Defined Technology Portfolio August 25, 1998
Defined Asset Funds (continued)
<TABLE><CAPTION>

PERCENTAGE PRICE
TICKER OF PER SHARE COST
NAME OF ISSUER SYMBOL PORTFOLIO (1) TO PORTFOLIO TO PORTFOLIO (2)
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
76. Paychex, Inc. PAYX 1.45% $ 40.0625 $ 6,530.19
77. PeopleSoft, Inc. PSFT 0.25 34.6250 1,108.00
78. Philips Electronics N.V.+ PHG 0.25 73.5625 1,103.44
79. Platinum Technology, Inc. PLAT 1.13 23.8750 5,109.25
80. QUALCOMM, Inc. QCOM 1.28 54.0000 5,778.00
81. Quantum Corporation QNTM 0.25 16.5000 1,105.50
82. SCI Systems, Inc. SCI 0.25 29.7500 1,130.50
83. Seagate Technology, Inc. SEG 0.25 24.2500 1,115.50
84. Security Dynamics Technologies,
Inc. SDTI 1.04 13.0000 4,667.00
85. Silicon Graphics, Inc. SGI 1.11 11.1250 4,995.13
86. Solectron Corporation SLR 0.25 50.6875 1,115.13
87. Storage Technology Corporation STK 0.25 35.5000 1,136.00
88. Sun Microsystems, Inc. SUNW 0.25 48.2500 1,109.75
89. Synopsys, Inc. SNPS 1.17 31.6250 5,249.75
90. Tech Data Corporation TECD 1.13 43.3750 5,074.88
91. Telefonaktiebolaget LM
Ericsson+ ERICY 0.25 24.7500 1,138.50
92. Tellabs, Inc. TLAB 0.25 58.0625 1,103.19
93. Teradyne, Inc. TER 0.25 21.8125 1,134.25
94. Texas Instruments, Inc. TXN 0.26 57.7500 1,155.00
95. Unisys Corporation UIS 1.44 25.0000 6,475.00
96. Vitesse Semiconductor
Corporation VTSS 1.19 33.1250 5,366.25
97. Western Digital Corporation WDC 1.07 11.3750 4,823.00
98. Xerox Corporation XRX 0.25 104.3125 1,147.44
99. Xilinx, Inc. XLNX 0.24 39.0000 1,092.00
100. Yahoo!, Inc. YHOO 1.00 97.6875 4,493.63
----------------- -----------------
100.00% $ 450,234.06
----------------- -----------------
----------------- -----------------
</TABLE>

A-9

<PAGE>
DEFINED ASSET FUNDSSM
PROSPECTUS--PART B
EQUITY INVESTOR FUND, SELECT SERIES DEFINED TECHNOLOGY PORTFOLIO
FURTHER INFORMATION REGARDING THE PORTFOLIO MAY BE OBTAINED
WITHIN FIVE DAYS BY WRITING OR CALLING THE TRUSTEE AT THE ADDRESS AND
TELEPHONE NUMBER SET FORTH ON THE BACK COVER OF THIS PROSPECTUS.
INDEX

PAGE
---------
PORTFOLIO DESCRIPTION.................. 1
RISK FACTORS........................... 2
HOW TO BUY UNITS....................... 4
HOW TO REDEEM OR SELL UNITS............ 5
TRUST TERMINATION...................... 6
ROLLOVER............................... 7
INCOME AND DISTRIBUTIONS............... 8
PORTFOLIO EXPENSES..................... 8
TAXES.................................. 8
RECORDS AND REPORTS.................... 11
TRUST INDENTURE........................ 11
MISCELLANEOUS.......................... 11
EXCHANGE OPTION........................ 13
SUPPLEMENTAL INFORMATION............... 14

PORTFOLIO DESCRIPTION
THE DEFINED TECHNOLOGY PORTFOLIO
This Select Series is designed to permit an investor to buy and hold a
portfolio of equity securities for a period of approximately one year based upon
a strategy. At the end of the year the strategy is reapplied and the investor
may reinvest in a new portfolio, if available.

The Portfolio seeks capital appreciation by acquiring and holding for about
one year certain equity securities selected by the Sponsor through the
application of a quantitative model (the 'Model') developed by the Portfolio
Consultant, Bernard V. Tew, Ph.D., chairman of Q.E.D. Investments ('Q.E.D.').
Q.E.D. was formed in 1997 and is based in Charleston, West Virginia. Its
principal business is investment supervisory services, and as of July 31, 1998,
Q.E.D. had $127 million in assets under management. Its database includes over
9,500 common stocks. The Model was designed to identify stocks with similar
returns and dissimilar price movement (low correlation) without increasing price
volatility. To implement this strategy the Portfolio Consultant compiles the
historical price data of all securities that comprise the Merrill Lynch 100.
Using this historical price data, the Portfolio Consultant constructs and
analyzes a complete Covariance Matrix of all the possible price relationships
between the securities in the Index. Using a sophisticated software program that
incorporates risk reduction techniques, the Portfolio Consultant constructs a
number of portfolios that are believed to have optimal risk/reward
relationships. From these alternative portfolios, the Portfolio Consultant sets
the stock weightings two days prior to the date of deposit that the Portfolio
Consultant believes will comprise the optimal portfolio. The optimal portfolio
is designed to have a return greater than, but highly correlated with, the
return of the Index. The Portfolio Consultant will then rebalance the Portfolio
on a yearly basis.
Investors should be aware that the Portfolio is generally fixed and because
the Merrill Lynch 100 is rebalanced annually in December, or may otherwise
change, the stocks in the Portfolio may not always reflect the current Merrill
Lynch 100. Also, the Portfolio may not be able to buy each Security at the same
time because of availability of the Security, any purchase restrictions
applicable to the Portfolio relating to the purchase of the security by reason
of the federal securities laws or otherwise. Any monies allocated to the
purchase of a Security will generally be held for the purchase of the Security.

The deposit of the Securities in the Portfolio on the initial date of
deposit established a proportionate relationship among the number of shares of
each Security. During the 90-day period following the initial date of deposit
the Sponsor
1
<PAGE>
may deposit additional Securities in order to create new Units, maintaining to
the extent practicable that original proportionate relationship. Deposits of
additional Securities subsequent to the 90-day period must generally replicate
exactly the proportionate relationship among the number of shares of each
Security at the end of the initial 90-day period. The ability to acquire each
Security at the same time will generally depend upon the Security's availability
and any restrictions on the purchase of that Security under the federal
securities laws or otherwise.
Additional Units may also be created by the deposit of cash (including a
letter of credit) with instructions to purchase additional Securities. This
practice could cause both existing and new investors to experience a dilution of
their investments and a reduction in their anticipated income because of price
fluctuations in the Securities between the time of the cash deposit and the
actual purchase of the additional Securities and because the associated
brokerage fees will be an expense of the Portfolio. To minimize the risk of
price fluctuations when purchasing Securities, the Portfolio will try to
purchase Securities as close to the evaluation time or at prices as close to the
evaluated prices as possible. The Portfolio may also enter into program trades
with unaffiliated broker/dealers, which may have the effect of increasing
brokerage commissions, while reducing market risk.
PORTFOLIO SUPERVISION
The Portfolio follows a buy and hold investment strategy that buys stocks
and generally holds them for one year, in contrast to the frequent portfolio
changes of a managed fund based on economic, financial and market analyses.
Although the Portfolio is regularly reviewed, because of the Strategy, the
Portfolio is unlikely to sell any of the Securities, other than to satisfy
redemptions of units, or to cease buying additional shares in connection with
the issuance of additional Units. More specifically, adverse developments
concerning a Security including the adverse financial condition of the issuer, a
failure to maintain a current dividend rate, the institution of legal
proceedings against the issuer, a default under certain documents materially and
adversely affecting the future declaration of dividends, or a decline in the
price or the occurrence of other market or credit factors (including a public
tender offer or a merger or acquisition transaction) that might otherwise make
retention of the Security detrimental to the interest of investors, will
generally not cause the Portfolio to dispose of a Security or cease buying it.
RISK FACTORS
An investment in the Portfolio entails certain risks, including the risk
that the value of your investment will decline if the financial condition of the
issuers of the Securities becomes impaired or if the general condition of the
stock market worsens. The rights of holders of common stocks to receive payments
from the issuer are generally inferior to the rights of creditors of, or holders
of debt obligations or preferred stocks issued by, the issuer. Moreover, because
common stocks do not represent an obligation of the issuer they do not offer any
assurance of income or provide the degree of protection of capital provided by
debt securities. Common stocks in general are susceptible to general stock
market movements and to volatile increases and decreases in value as market
confidence in and perceptions of issuers change. Equity markets can be affected
by unpredictable factors including expectations regarding government, economic,
monetary and fiscal policies, inflation and interest rates, economic expansion
or contraction, and global or regional political, economic or banking crises.
The Sponsor cannot predict the direction or scope of any of these factors. The
Portfolio consists of aggressive growth stocks that are subject to extreme
volatility. Therefore, there can be no assurance that the Model will be
effective in achieving its objective over the one-year life of the Portfolio or
that any future portfolios selected through reapplication of the Model during
consecutive one-year periods would meet their objectives. In addition, the Model
and the Portfolio Consultant have only a limited track record. The Portfolio is
not designed to be a complete equity investment program.
TECHNOLOGY STOCKS
The Portfolio is concentrated in stocks of computer services and data
processing issuers and issuers that manufacture semiconductors, electronic
components, software, integrated systems and other related products. These kinds
of companies are rapidly developing and highly competitive, both domestically
and internationally, and tend to be relatively volatile as compared to other
types of investments. Certain of these companies may be smaller and less
seasoned companies with limited product lines, markets or financial resources
and limited management or marketing personnel. These companies are characterized
by a high degree of investment to maintain competitiveness and are affected by
worldwide scientific and technological developments (and resulting product
obsolescence) as well as government regulation, increase in material or labor
costs, changes in distribution channels and the need to manage inventory levels
in line with product demand. Other risk factors include short product life
cycles, aggressive pricing and reduced profit margins, dramatic and often
unpredictable changes in growth rates, frequent new product introduction, the
need to enhance existing products, intense
2
<PAGE>
competition from large established companies and potential competition from
small start up companies. These companies are also dependent to a substantial
degree upon skilled professional and technical personnel and there is
considerable competition for the services of qualified personnel in the
industry.
FOREIGN ISSUERS
Investing in securities of foreign issuers involves risks that are
different from investing in securities of domestic issuers. These risks may
include future political and economic developments, the possibility of
withholding taxes, exchange controls or other governmental restrictions on the
payment of dividends, less publicly available information and the absence of
uniform accounting, auditing and financial reporting standards, practices and
requirements.
American Depositary Shares and Receipts. Certain of the Securities in the
Portfolio were purchased in ADR form in the United States. ADRs evidence
American Depositary Shares which represent common stock deposited with a
custodian in a depositary. American Depositary Shares (ADSs) and receipts
therefor (ADRs) are issued by an American bank or trust company to evidence
ownership of underlying securities issued by a foreign corporation. These
instruments may not necessarily be denominated in the same currency as the
securities into which they may be converted. Generally, ADSs and ADRs are
designed for use in the United States securities markets. For purposes of this
Prospectus, the term ADR generally includes ADSs. The terms and conditions of
depositary facilities may result in less liquidity or lower market prices for
ADRs than for the underlying shares. For those Securities that are ADRs,
currency fluctuations will also affect the U.S. dollar equivalent of the local
currency price of the underlying domestic share and, as a result, are likely to
affect the value of the ADRs and consequently the value of the Securities.
LIQUIDITY
Whether or not the Securities are listed on a national securities exchange,
the principal trading market for the Securities may be in the over-the-counter
market. As a result, the existence of a liquid trading market for the Securities
may depend on whether dealers will make a market in the Securities. There can be
no assurance that a market will be made for any of the Securities, that any
market for the Securities will be maintained or of the liquidity of the
Securities in any markets made. In addition, the Portfolio may be restricted
under the Investment Company Act of 1940 from selling Securities to the Sponsor.
The price at which the Securities may be sold to meet redemptions and the value
of the Portfolio will be adversely affected if trading markets for the
Securities are limited or absent.
LITIGATION AND LEGISLATION
The Sponsor does not know of any pending litigation as of the initial date
of deposit that might reasonably be expected to have a material adverse effect
on the Portfolio, although pending litigation may have a material adverse effect
on the value of Securities in the Portfolio. In addition, at any time after the
initial date of deposit, litigation may be initiated on a variety of grounds, or
legislation may be enacted, affecting the Securities in the Portfolio or the
issuers of the Securities. Changing approaches to regulation may have a negative
impact on certain companies represented in the Portfolio. There can be no
assurance that future litigation, legislation, regulation or deregulation will
not have a material adverse effect on the Portfolio or will not impair the
ability of the issuers of the Securities to achieve their business goals. From
time to time Congress considers proposals to reduce the rate of the
dividends-received deduction. This type of legislation, if enacted into law,
would adversely affect the after-tax return to investors who can take advantage
of the deduction. See Taxes.
LIFE OF THE PORTFOLIO
The size and composition of the Portfolio will be affected by the level of
redemptions of Units that may occur from time to time. Principally, this will
depend upon the number of investors seeking to sell or redeem their Units or
participating in an exchange or rollover. The Portfolio will be terminated no
later than the mandatory termination date specified in Part A of the Prospectus.
It will terminate earlier upon the disposition of the last Security or upon the
consent of investors holding 51% of the Units. The Portfolio may also be
terminated earlier by the Sponsor once its total assets have fallen below the
minimum value specified in Part A of the Prospectus. A decision by the Sponsor
to terminate the Portfolio early, which will likely be made following the
rollover, will be based on factors such as the size of the Portfolio relative to
its original size, the ratio of Portfolio expenses to income, and the cost of
maintaining a current prospectus. See Trust Termination.
Notice of impending termination will be provided to investors and
thereafter units will no longer be redeemable. On or shortly before termination,
the Trustee will seek to dispose of any Securities remaining in the Portfolio
although any Security unable to be sold at a reasonable price may continue to be
held by the Trustee in a liquidating trust pending its final
3
<PAGE>
disposition. A proportional share of the expenses associated with termination,
including brokerage costs in disposing of Securities, will be borne by investors
remaining at that time. This may have the effect of reducing the amount of
proceeds those investors are to receive in any final distribution.
HOW TO BUY UNITS
Units are available from the Sponsor, Underwriter and other broker-dealers
at the Public Offering Price. The Public Offering Price varies each Business Day
with changes in the value of the Portfolio and other assets and liabilities of
the Portfolio.
PUBLIC OFFERING PRICE
Units are charged a combination of Initial and Deferred Sales Charges
equal, in the aggregate to a maximum charge of 2.75% of the public offering
price or for quantity purchases of units of all Focus and Select Series, and
certain other selected Equity Investor Series, by an investor and the investor's
spouse and minor children or by a single trust estate or fiduciary account, made
on a single day, the following percentages of the public offering price:

APPLICABLE SALES CHARGE
(GROSS UNDERWRITING PROFIT)
---------------------------------- DEALER CONCESSION
AS % OF PUBLIC AS % OF NET AS % OF PUBLIC
AMOUNT PURCHASED OFFERING PRICE AMOUNT INVESTED OFFERING PRICE
- ---------------------------- --------------- ----------------- -------------------
<S> <C> <C> <C>
Less than $50,000........... 2.75% 2.778% 2.00%
$50,000 to $99,999.......... 2.50 2.519 1.80
$100,000 to $249,999........ 2.00 2.005 1.45
$250,000 to $999,999........ 1.75 1.750 1.25
$1,000,000 to $4,999,999.... 1.00 1.000 .50
$5,000,000 or more.......... 0.60 0.599 0.30
</TABLE>

In addition, a portion of the Public Offering Price also consists of securities
in an amount sufficient to pay for all or a portion of the costs incurred in
establishing the Portfolio, including the cost of the initial preparation of
documents relating to the Portfolio, federal and state registration fees, and
the initial fees and expenses of the Trustee, legal expenses and any other
out-of-pocket expenses. The estimated organization costs will be deducted from
the assets of the Portfolio as of the close of the initial offering period.
The Deferred Sales Charge is a monthly charge of $1.75 per 1,000 units and
is accrued in ten monthly installments commencing on the date indicated in part
A of this Prospectus. Units redeemed or repurchased prior to the accrual of the
final Deferred Sales Charge installment will have the amount of any remaining
installments deducted from the redemption or repurchase proceeds or deducted in
calculating an in-kind redemption, although this deduction will be waived in the
event of the death or disability (as defined in the Internal Revenue Code) of an
investor.
It is anticipated that Securities will not be sold to pay the Deferred
Sales Charge until after the date of the last installment. Investors will be at
risk for market price fluctuations in the Securities from the several
installment accrual dates to the dates of actual sale of Securities to satisfy
this liability. In selling Securities the Portfolio will attempt to minimize any
current tax liability for current investors.

Selling dealers will be entitled to the concession stated in the above
table. On rollover purchases, the concession will be $11.00 per 1,000 Units
($5.00 per 1,000 Units on purchases of $1,000,000 or more). Employees of certain
Sponsors and Sponsor affiliates and non-employee directors of Merrill Lynch &
Co. Inc. may purchase Units subject only to the Deferred Sales Charge.
Commercial banks and their securities broker subsidiaries that have
agreements with the Sponsors may make Units available to their customers as
their agents. A portion of the sales charge (equal to the dealer commission
referred to above) will be retained or remitted to the banks. Under the
Glass-Steagall Act, banks are prohibited from underwriting Units; however, the
Glass-Steagall Act permits banks to act as agents of their customers on a
disclosed basis and federal banking regulators have approved similar
arrangements. In addition, state securities laws on this issue may differ from
the interpretations of federal law expressed above and banks and financial
institutions may be required to register as dealers pursuant to state law.

Employees of the Sponsor and Sponsor affiliates and non-employee directors
of Merrill Lynch & Co. Inc. may purchase Units subject only to the Deferred
Sales Charge.
4
<PAGE>
EVALUATIONS
Evaluations are determined by the Trustee on each Business Day. This
excludes Saturdays, Sundays and the following holidays as observed by the New
York Stock Exchange: New Year's Day, Martin Luther King, Jr. Day, Presidents'
Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and
Christmas. If the Securities are listed on a national securities exchange or the
Nasdaq National Market, evaluations are generally based on closing sales prices
on that exchange or system (unless the Trustee deems these prices inappropriate)
or, if closing sales prices are not available, at the mean between the closing
bid and offer prices. If the Securities are not listed or if listed but the
principal market is elsewhere, the evaluation is generally determined based on
sales prices of the Securities on the over-the-counter market or, if sales
prices in that market are not available, on the basis of the mean between
current bid and offer prices for the Securities or for comparable securities or
by appraisal or by any combination of these methods. Neither the Sponsor nor the
Trustee guarantees the enforceability, marketability or price of any Securities.
NO CERTIFICATES
All investors are required to hold their Units in uncertificated form and
in 'street name' by their broker, dealer or financial institution at the
Depository Trust Company ('DTC').
HOW TO REDEEM OR SELL UNITS
You can redeem your Units at any time for net asset value. In addition, the
Sponsor has maintained an uninterrupted secondary market for Units for over 20
years and will ordinarily buy back Units at net asset value. The following
describes these two methods to redeem or sell Units in greater detail.
REDEEMING UNITS WITH THE TRUSTEE
You can always redeem your Units for net asset value. This can be done by
contacting your broker, dealer or financial institution that holds your Units in
street name. In certain instances, additional documents may be required such as
a trust instrument, certificate of corporate authority, certificate of death or
appointment as executor, administrator or guardian.
Within seven days after the receipt of your request containing any
necessary documents, a check will be mailed to you in an amount equal to the net
asset value of your Units. Because of the sales charge, market movements or
changes in the Portfolio, net asset value at the time you redeem your Units may
be greater or less than the original cost of your Units. Net asset value is
calculated each Business Day by adding the value of the Securities, declared but
unpaid dividends on the Securities, cash and the value of any other Portfolio
assets; deducting unpaid taxes or other governmental charges, accrued but unpaid
Portfolio expenses and any remaining deferred sales charges for the current
period, unreimbursed Trustee advances, cash held to redeem Units or for
distribution to investors and the value of any other Portfolio liabilities; and
dividing the result by the number of outstanding Units. After the initial
offering period, net asset value will be reduced to reflect the cost to the
Portfolio of liquidating Securities to pay the redemption price.
As long as the Sponsor is maintaining a secondary market for Units (as
described below), the Trustee will not actually redeem your Units but will sell
them to the Sponsor for net asset value. If the Sponsor is not maintaining a
secondary market, the Trustee will redeem your Units for net asset value or will
sell your Units in the over-the-counter market if the Trustee believes it will
obtain a higher net price for your Units. If the Trustee is able to sell the
Units for a net price higher than net asset value, you will receive the net
proceeds of the sale.
If cash is not available in the Income and Capital Accounts to pay
redemptions, the Trustee may sell Securities selected by the Sponsor based on
market and credit factors determined to be in the best interest of the
Portfolio. These sales are often made at times when the Securities would not
otherwise be sold and may result in lower prices than might be realized
otherwise and may also reduce the size and diversity of the Portfolio. If
Securities are being sold during a time when additional Units are being created
by the purchase of additional Securities (as described under Portfolio
Description--The Defined Technology Portfolio), Securities will be sold in a
manner designed to maintain, to the extent practicable, the proportionate
relationship among the number of shares of each Security in the Portfolio.

Any investor owning Units representing Securities with a value of at least
$500,000 who redeems those Units prior to the rollover notification date
indicated in Part A of the Prospectus may, in lieu of cash redemption, request
distribution in kind of an amount and value of Securities per Unit equal to the
otherwise applicable Redemption Price per Unit. Generally, whole shares of each
Security together with cash from the Capital Account equal to any fractional
shares to which the investor would be entitled (less any Deferred Sales Charge
payable) will be paid over to a distribution agent and either held
5
<PAGE>
for the account of the investor or disposed of in accordance with instructions
of the investor. Any brokerage commissions on sales of Securities in connection
with in-kind redemptions may be borne by the redeeming investors. The in-kind
redemption option is subject to all applicable legal restrictions and may be
terminated by the Sponsor at any time upon prior notice to investors.

Redemptions may be suspended or payment postponed (i) if the New York Stock
Exchange is closed (other than customary weekend and holiday closings), (ii) if
the SEC determines that trading on the New York Stock Exchange is restricted or
that an emergency exists making disposal or evaluation of the Securities not
reasonably practicable or (iii) for any other period permitted by SEC order.
SPONSOR'S SECONDARY MARKET FOR UNITS
The Sponsor, while not obligated to do so, will buy back Units at net asset
value without any other fee or charge as long as it is maintaining a secondary
market for Units. Because of the sales charge, market movements or changes in
the portfolio, net asset value at the time you sell your Units may be greater or
less than the original cost of your Units. You should consult your financial
professional for current market prices to determine if other broker-dealers or
banks are offering higher prices for Units.
The Sponsor may discontinue the secondary market for Units without prior
notice. Regardless of whether the Sponsor maintains a secondary market, you have
the right to redeem your Units for net asset value, as described above.
TRUST TERMINATION
Notice of impending termination of the Portfolio will be provided to
investors. A proportional share of the expenses associated with termination,
including brokerage costs incurred in disposing of Securities, will be borne by
investors remaining at that time. These expenses will reduce the amount of cash
or Securities those investors are to receive in any final distribution.
Upon termination of the Portfolio, the Trustee will distribute the
Securities and any cash in the Portfolio to a distribution agent that will act
as agent for the investors. Unless an investor elects to receive an in-kind
distribution of Securities, as discussed below, the distribution agent will, as
promptly as practicable, sell the investor's pro rata share of the Securities
and distribute to the investor the proceeds of the sale, less brokerage and
other related expenses, and the investor's pro rata share of any cash from the
Portfolio.
Any investor holding units at the termination of the Portfolio may, by
written notice to the Trustee at least ten business days prior to termination,
elect to received an in kind distribution of the investor's pro rata share of
the Securities remaining in the Portfolio at that time (net of the investor's
share of expenses). Fractional shares of Securities will be sold by the
distribution agent and the net proceeds distributed to investors. Investors
subsequently selling Securities received in kind will incur brokerage costs at
that time which may exceed the value of any tax deferral obtained through the
in-kind distribution. Securities received in an in-kind termination distribution
may not be contributed to acquire units of another Series.
ROLLOVER
In lieu of redeeming their units or receiving liquidation proceeds in cash
or in kind upon termination of the Portfolio, investors who hold their Units
with the Sponsor may elect, by contacting their financial adviser prior to the
rollover notification date indicated in Part A, to exchange their Units in the
Portfolio for units of a new portfolio (if available). No election to roll over
may be made prior to 30 days before the date of the rollover, and any rollover
election will be revocable at any time prior to the date of the rollover. It is
expected that the terms of the new portfolio will be substantially the same as
those of the Portfolio.
The rollover of an investor's Units is intended to be effected in a manner
that will not result in the recognition of either gain or loss for U.S. federal
income tax purposes with respect to Securities that are included in the new
portfolio ('Duplicated Securities'). Units held by an investor who elects the
rollover option will be redeemed through an in-kind distribution to a
distribution agent of the investor's pro rata share of Securities. The
distribution agent will then adjust the Securities distributed to the investor
so that its composition matches the investment profile of the new portfolio.
This adjustment will involve the sale of non-Duplicated Securities and,
possibly, of a portion of certain Duplicated Securities in order to rebalance
the portfolio, and the purchase of replacement Securities. Any excess sales
proceeds, net of sales related expenses, will be distributed to the investor.
After this adjustment the distribution agent will make an in-kind contribution
6
<PAGE>
of the adjusted Securities to the new portfolio. Upon receipt of the in-kind
contribution, the trustee of the new portfolio will issue the appropriate number
of units in the new portfolio to the investor.
An investor who elects the rollover option will recognize capital gain or
loss with respect to the Securities, including fractional Securities, sold by
the distribution agent, but will not recognize gain or loss with respect to the
Duplicated Securities that are contributed in kind to the new portfolio. The
Sponsor intends to provide investors with information that will assist them in
determining their tax liability on an eventual sale of the Duplicated
Securities.
The Sponsor intends to cause the distribution agent to sell those
Securities that will not be contributed to the new portfolio, and then to create
units of the new portfolio, in each case as quickly as possible subject to the
Sponsor's sensitivity that the concentrated sale and purchase of large volumes
of securities may affect market prices in a manner adverse to the interest of
investors. Accordingly, the Sponsor may, in its sole discretion, undertake a
more gradual sale of Securities and a more gradual creation of units of the new
portfolio to help mitigate any negative market price consequences caused by this
large volume of securities trades. In order to minimize potential losses caused
by market movement during the rollover period, the Sponsor may enter into
program trades, which may increase brokerage commissions payable by investors.
There can be no assurance, however, that any trading procedures will be
successful or might not result in less advantageous prices. Pending the
investment of rollover proceeds in securities to comprise the new portfolio,
those moneys may be uninvested for several days.
Investors who participate in the rollover will not be entitled to receive a
cash distribution with which to pay any taxes incurred as a result of the
rollover procedure. Investors who do not participate in the rollover or
otherwise redeem their Units will continue to hold their Units until the
termination of the Portfolio; however, depending upon the extent of
participation in the rollover, the aggregate size of the Portfolio will be
reduced which could result in an increase in per Unit expenses.
The Sponsor may, in its sole discretion and without penalty or liability to
investors, decide not to sponsor a new portfolio or to modify the terms of the
rollover. Prior notice of any decision would be provided to investors.
The Division of Investment Management of the SEC is of the view that the
rollover option constitutes an 'exchange offer', for the purposes of Section
11(c) of the Investment Company Act of 1940, and would therefore be prohibited
absent an exemptive order. The Sponsor has received exemptive orders under
Section 11(c) which it believes permit it to offer the rollover, but no
assurance can be given that the SEC will concur with the Sponsor's position and
additional regulatory approvals may be required.
INCOME AND DISTRIBUTIONS
Although current dividend income is not an objective of the Portfolio, and
it is anticipated that expenses will exceed available income, the annual income
per Unit, after deducting estimated annual expenses per Unit, will depend
primarily upon the amount of dividends declared and paid by the issuers of the
Securities and changes in the expenses of the Portfolio and, to a lesser degree,
upon the level of purchases of additional Securities and sales of Securities.
There is no assurance that dividends on the Securities will continue at their
current levels or be declared at all.
Each Unit receives an equal share of any distributions of dividend income.
Dividends received are credited to an Income Account and other receipts are
credited to a Capital Account. A Reserve Account may be created by withdrawing
from the Income and Capital Accounts amounts considered appropriate by the
Trustee to reserve for any material amount that may be payable out of the
Portfolio. Funds held by the Trustee in the various accounts do not bear
interest. In addition, distributions of amounts necessary to pay the Deferred
Sales Charge will be made from the Capital Account to an account maintained by
the Trustee for purposes of satisfying investors' sales charge obligations.
Although the Sponsor may collect the Deferred Sales Charge during the months
stated in Part A, to keep Units more fully invested the Sponsor currently does
not anticipate sales of Securities to pay the Deferred Sales Charge until after
the rollover notification date. Proceeds of the disposition of any Securities
not used to pay the Deferred Sales Charge or to redeem Units will be held in the
Capital Account and distributed following liquidation of the Portfolio.
PORTFOLIO EXPENSES

Estimated annual expenses are listed in Part A of the Prospectus; if actual
expenses exceed the estimate, the excess will be borne by the Portfolio. To the
extent that expenses exceed the amount available in the Income Account, the
Trustee is authorized to sell Securities and pay the excess expenses from the
Capital Account. The estimated expenses do not include the brokerage commissions
payable by the Portfolio in purchasing and selling Securities. The Trustee's Fee
shown in Part
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A of this Prospectus assumes that the Portfolio will reach a size estimated by
the Sponsor and is based on a sliding scale that reduces the Trustee's fee as
the size of the Portfolio increases. The Trustee's annual fee is payable in
monthly installments. The Trustee also benefits when it holds cash for the
Portfolio in non-interest bearing accounts. Possible additional charges include
Trustee fees and expenses for extraordinary services, costs of indemnifying the
Trustee and the Sponsor, costs of action taken to protect the Portfolio and
other legal fees and expenses, Portfolio termination expenses and any
governmental charges. The Trustee has a lien on Portfolio assets to secure
reimbursement of these amounts and may sell Securities for this purpose if cash
is not available. The Sponsor receives an annual fee currently estimated at
$0.45 per 1,000 Units to reimburse it for the cost of providing Portfolio
supervisory, bookkeeping and administrative services and for any other expenses
properly chargeable to the Portfolio. While the fee may exceed the amount of
these costs and expenses attributable to the Portfolio, the total of these fees
from all Series of Defined Asset Funds will not exceed the aggregate amount
attributable to all of those Series during any calendar year. The Trustee's and
Sponsor's fees may be adjusted for inflation without investors' approval.

Advertising and selling expenses will be paid by the Sponsor at no charge
to the Portfolio. Defined Asset Funds can be a cost-effective way to purchase
and hold investments. Annual operating expenses are generally lower than for
managed funds. Because Defined Asset Portfolios have no management fees, limited
transaction costs and no ongoing marketing expenses, operating expenses are
generally less than 0.25% a year. When compounded annually, small differences in
expense ratios can make a big difference in your investment results.
TAXES
The following discussion addresses only the tax consequences of Units held
as capital assets and does not address the tax consequences of Units held by
dealers, financial institutions or insurance companies.
In the opinion of Davis Polk & Wardwell, special counsel for the Sponsor,
under existing law:
The Portfolio is not an association taxable as a corporation for federal
income tax purposes. Each investor will be considered the owner of a pro
rata portion of each Security in the Portfolio under the grantor trust
rules of Sections 671-679 of the Internal Revenue Code of 1986, as amended
(the 'Code'). Each investor will be considered to have received all of the
dividends paid on his pro rata portion of each Security when such dividends
are received by the Portfolio, regardless of whether such dividends are
used to pay a portion of Portfolio expenses.
Amounts considered to have been received by a corporate investor from
domestic corporations that constitute dividends for federal income tax
purposes will generally qualify for the dividends-received deduction, which
is currently 70%. Depending upon the particular corporate investor's
circumstances, limitations on the availability of the dividends-received
deduction may be applicable. Further, Congress from time to time considers
proposals that would adversely affect the after-tax return to investors
that can take advantage of the deduction. For example, under the Taxpayer
Relief Act of 1997, the 46-day holding period for the dividends-received
deduction must begin before and include each ex-dividend date and excludes
the purchase date and any days during which the investor's investment is
hedged. Investors are urged to consult their own tax advisers in this
regard.
An individual investor who itemizes deductions will be entitled to
deduct his pro rata share of current Portfolio expenses only to the extent
that this amount together with the investor's other miscellaneous
deductions exceeds 2% of his adjusted gross income. The Code further
restricts the ability of an individual investor with an adjusted gross
income in excess of a specified amount (for 1998, $124,500 or $62,250 for a
married person filing a separate return) to claim itemized deductions
(including his pro rata share of Portfolio expenses).
The investor's basis in his Units will equal the cost of his Units,
including the initial sales charge. A portion of the sales charge is
deferred until the termination of the Portfolio or the redemption of the
Units. The proceeds received by an investor upon such event will reflect
deduction of the deferred amount (the 'Deferred Sales Charge') and a charge
for organizational expenses. The annual statement and the relevant tax
reporting forms received by investors will be based upon the amounts paid
to them, net of the Deferred Sales Charge and the charge for organizational
expenses. Accordingly, investors should not increase their basis in their
Units by the Deferred Sales Charge amount or any amount used to pay
organizational expenses.
An investor will generally recognize capital gain or loss when the
investor disposes of his Units for cash (by sale or redemption) or when the
Trustee disposes of the Securities from the Portfolio. An investor will not
recognize gain or loss upon the distribution of a pro rata amount of each
of the Securities by the Trustee to the investor (or to his agent) in
redemption of Units or upon termination of the Portfolio, except to the
extent of cash received in lieu of fractional
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<PAGE>
shares. The redeeming investor's basis for the Securities will be equal to
his basis for the same Securities (previously represented by his Units)
prior to the redemption, and his holding period for the Securities will
include the period during which he held his Units.
An investor who elects to roll over into a new portfolio (a 'rollover
investor') will not recognize gain or loss either upon the distribution of
Securities by the Trustee to the distribution agent or upon the
contribution of Duplicated Securities (as defined under Rollover) to the
new portfolio. The rollover investor will generally recognize capital gain
or loss as a consequence of the distribution agent's sale of non-Duplicated
Securities. The rollover investor's basis for the Duplicated Securities
that are contributed in kind to the new portfolio will be equal to his
basis for the same Duplicated Securities prior to the rollover.

A capital gain or loss is long-term if the relevant asset is held for
more than one year and short-term if held for one year or less. A
noncorporate investor may be entitled to the 20% maximum federal tax for
capital gains derived from the Portfolio if he has held his Units for more
than one year, or if his holding period for contributed Duplicated
Securities (which, in the case of a rollover investor, includes the period
during which he held an interest in the same Duplicated Securities in prior
years' corresponding Technology Portfolios) is more than one year. The
deduction of capital losses is subject to limitations. Investors should
consult their tax advisers regarding these matters.

Under the income tax laws of the State and City of New York, the
Portfolio is not an association taxable as a corporation and the income of
the Portfolio will be treated as the income of the investors in the same
manner as for federal income tax purposes.

The Portfolio will report as gross income earned by investors their pro
rata share of any dividends received by the Portfolio from the foreign
corporations in which the Portfolio holds stock as well as their pro rata
share of any amount withheld with respect to such dividends. (See Defined
Portfolio in Part A.) Those investors who hold Units on the relevant record
date for dividends on the underlying foreign stock held by the Portfolio
should be entitled, subject to applicable limitations, to either a credit
or a deduction for foreign taxes payable with respect to such dividend
payments. Capital gain on a disposition of foreign stock (or a
proportionate share of Units), if any, will generally be U.S. source
income. Any foreign currency gain or loss with respect to an investment in
the Portfolio will generally be treated as ordinary income or loss.
Investors should consult their own tax advisers regarding those matters.

The foregoing discussion summarizes only certain U.S. federal and New
York State and City income tax consequences of an investment in Units by
investors who are U.S. persons, as defined in the Code. Foreign investors
(including nonresident alien individuals and foreign corporations) not
engaged in U.S. trade or business will generally be subject to 30%
withholding tax (or lower applicable treaty rate) on dividend
distributions. Investors may be subject to taxation in New York or in other
U.S. or foreign jurisdictions and should consult their own tax advisers in
this regard.
* * * *
At termination, the Trustee will furnish to each investor a statement
containing information relating to the dividends received by the Portfolio on
the Securities, the cash proceeds received by the Portfolio from the disposition
of any Security (resulting from redemption or the sale by the Portfolio of any
Security), and the fees and expenses paid by the Portfolio. The Trustee will
also furnish annual information returns to each investor and to the Internal
Revenue Service.
RETIREMENT PLANS
This Series of Equity Investor Fund may be well suited for purchase by
Individual Retirement Accounts ('IRAs'), Keogh plans, pension funds and other
qualified retirement plans, certain of which are briefly described below.
Generally, capital gains and income received in each of the foregoing plans are
exempt from federal taxation. All distributions from such plans are generally
treated as ordinary income but may, in some cases, be eligible for special 5 or
10 year averaging (prior to the year 2000) or tax-deferred rollover treatment.
Investors in IRAs, Keogh plans and other tax-deferred retirement plans should
consult their plan custodian as to the appropriate disposition of distributions.
Investors considering participation in any of these plans should review specific
tax laws related thereto and should consult their attorneys or tax advisers with
respect to the establishment and maintenance of any of these plans. These plans
are offered by brokerage firms, including the Sponsor of this Portfolio, and
other financial institutions. Fees and charges with respect to such plans may
vary.
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Retirement Plans for the Self-Employed--Keogh Plans. Units may be purchased
by retirement plans established for self-employed individuals, partnerships or
unincorporated companies ('Keogh plans'). The assets of a Keogh plan must be
held in a qualified trust or other arrangement which meets the requirements of
the Code. Keogh plan participants may also establish separate IRAs (see below)
to which they may contribute up to an additional $2,000 per year ($4,000 in a
spousal account).

Individual Retirement Account--IRA. Any individual can make use of a
qualified IRA arrangement for the purchase of Units. Any individual (including
one covered by an employer retirement plan) can make a contribution to an IRA
equal to the lesser of $2,000 ($4,000 in a spousal account) or 100% of earned
income; such investment must be made in cash. However, the deductible amount of
a contribution by an individual covered by an employer retirement plan will be
reduced if the individual's adjusted gross income exceeds $25,000 (in the case
of a single individual), $40,000 (in the case of a married individual filing a
joint return) or $200 (in the case of a married individual filing a separate
return). These income threshholds will gradually be increased by 2004 to $50,000
for a single individual and $80,000 for a married individual filing jointly.
Certain transactions which are prohibited under Section 408 of the Code will
cause all or a portion of the amount in an IRA to be deemed to the distributed
and subject to tax at that time. Unless nondeductible contributions were made in
1987 or a later year, all distributions from an IRA will be treated as ordinary
income but generally are eligible for tax-deferred rollover treatment. Taxable
distributions made before attainment of age 59 1/2, except in the case of the
participant's death or disability or where the amount distributed is part of a
series of substantially equal periodic (at least annual) payments that are to be
made over the life expectancies of the participant and his or her beneficiary,
are generally subject to a surtax in an amount equal to 10% of the distribution.
The 10% surtax will be waived for withdrawals for certain educational and
first-time homebuyers expenses. Subject to certain income limitations, under a
special type of IRA, contributions would be non-deductible but distributions
would be tax-free if the account were held for at least five years and the
account holder was at least 59 1/2 at the time of distribution.

Corporate Pension and Profit-Sharing Plans. A pension or profit-sharing
plan for employees of a corporation may purchase Units.
RECORDS AND REPORTS
The Trustee keeps a register of the names, addresses and holdings of all
investors. The Trustee also keeps records of the transactions of the Portfolio,
including a current list of the Securities and a copy of the Indenture, which
may be inspected by investors at reasonable times during business hours.
Following termination, the Trustee sends each investor of record a
statement summarizing transactions in the Portfolio's accounts including amounts
distributed from them, identifying Securities sold and purchased and listing
Securities held and the number of Units outstanding and stating the Redemption
Price per 1,000 Units at termination, and the fees and expenses paid by the
Portfolio, among other matters. Portfolio accounts are audited by independent
accountants selected by the Sponsor and the report of the accountants is
available from the Trustee on request.
TRUST INDENTURE
The Portfolio is a 'unit investment trust' created under New York law by a
Trust Indenture between the Sponsor and the Trustee. This Prospectus summarizes
various provisions of the Indenture, but each statement is qualified in its
entirety by reference to the Indenture.
The Indenture may be amended by the Sponsor and the Trustee without consent
by investors to cure ambiguities or to correct or supplement any defective or
inconsistent provision, to make any amendment required by the SEC or other
governmental agency or to make any other change not materially adverse to the
interest of investors (as determined in good faith by the Sponsor). The
Indenture may also generally be amended upon consent of investors holding 51% of
the Units. No amendment may reduce the interest of any investor without the
investor's consent or reduce the percentage of Units required to consent to any
amendment without unanimous consent of investors. Investors will be notified of
the substance of any amendment.
The Trustee may resign upon notice to the Sponsor. It may be removed by
investors holding 51% of the Units at any time or by the Sponsor without the
consent of investors if it becomes incapable of acting or bankrupt, its affairs
are taken over by public authorities, or if under certain conditions the Sponsor
determines in good faith that its replacement is in the
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<PAGE>
best interest of the investors. The resignation or removal becomes effective
upon acceptance of appointment by a successor; in this case, the Sponsor will
use its best efforts to appoint a successor promptly; however, if upon
resignation no successor has accepted appointment within 30 days after
notification, the resigning Trustee may apply to a court of competent
jurisdiction to appoint a successor.
If the Sponsor fails to perform its duties or becomes incapable of acting
or bankrupt or its affairs are taken over by public authorities, the Trustee may
appoint a successor Sponsor at reasonable rates of compensation, terminate the
Indenture and liquidate the Portfolio or continue to act as Trustee without a
Sponsor.
The Sponsor and the Trustee are not liable to investors or any other party
for any act or omission in the conduct of their responsibilities absent bad
faith, willful misfeasance, negligence (gross negligence in the case of the
Sponsor) or reckless disregard of duty. The Indenture contains customary
provisions limiting the liability of the Trustee.
MISCELLANEOUS
LEGAL OPINION
The legality of the Units has been passed upon by Davis Polk & Wardwell,
450 Lexington Avenue, New York, New York 10017, as special counsel for the
Sponsor.
AUDITORS
The Statement of Condition in Part A of the Prospectus was audited by
Deloitte & Touche LLP, independent accountants, as stated in their opinion. It
is included in reliance upon that opinion given on the authority of that firm as
experts in accounting and auditing.
TRUSTEE
The Trustee and its address are stated on the back cover of the Prospectus.
The Trustee is subject to supervision by the Federal Deposit Insurance
Corporation, the Board of Governors of the Federal Reserve System and New York
State banking authorities.
SPONSOR
The Sponsor is a wholly-owned subsidiary of Merrill Lynch & Co., Inc. The
Sponsor, or one of its predecessor corporations, has acted as Sponsor of a
number of series of unit investment trusts and as principal underwriter and
managing underwriter of other investment companies. The Sponsor, in addition to
participating as a member of various selling groups or as agent of other
investment companies, executes orders on behalf of investment companies for the
purchase and sale of securities of these companies and sells securities to these
companies in its capacities as broker or dealer in securities.
CODE OF ETHICS
The Sponsor has adopted a code of ethics requiring preclearance and
reporting of personal securities transactions by its personnel who have access
to information on Defined Asset portfolio transactions. The code is intended to
prevent any act, practice or course of conduct which would operate as a fraud or
deceit on any portfolio and to provide guidance to these persons regarding
standards of conduct consistent with the Sponsor's responsibilities to Defined
Asset Funds.

YEAR 2000 ISSUES
Many computer systems were designed using only two digits to designate
years. These systems may not be able to distinguish the Year 2000 from the Year
1900 (commonly known as the 'Year 2000 Problem'). Like other investment
companies and financial and business organizations, the Portfolio could be
adversely affected if the computer systems used by the Sponsor or Portfolio
service providers do not properly address this problem prior to January 1, 2000.
The Sponsor has established a dedicated group to analyze these issues and to
implement any systems modifications necessary to prepare for the Year 2000.
Currently, we do not anticipate that the transition to the 21st century will
have any material effect on the Portfolio. The Sponsor has sought assurances
from the Portfolio's other service providers that they are taking all necessary
steps to ensure that their computer systems will accurately reflect the Year
2000, and the Sponsor will continue to monitor the situation. At this time,
however, no assurance can be given that the Portfolio's other service providers
have anticipated every step necessary to avoid any adverse effect on the
Portfolio attributable to the Year 2000 Problem.

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PUBLIC DISTRIBUTION
During the initial offering period and thereafter to the extent additional
Units continue to be offered for sale to the public by means of this Prospectus,
Units will be distributed directly to the public by this Prospectus at the
Public Offering Price determined in the manner provided above or to selected
dealers who are members of the National Association of Securities Dealers, Inc.
at a concession not in excess of the maximum sales charge. The Sponsor intends
to qualify Units for sale in all states in which qualification is deemed
necessary through the Underwriting Account and by dealers who are members of the
National Association of Securities Dealers, Inc.. The Sponsor does not intend to
qualify Units for sale in any foreign countries and this Prospectus does not
constitute an offer to sell Units in any country where Units cannot lawfully be
sold.
UNDERWRITER'S AND SPONSOR'S PROFITS
Upon sale of the Units, the Sponsor will be entitled to receive sales
charges. The Sponsor also realizes a profit or loss on deposit of the Securities
equal to the difference between the cost of the Securities to the Portfolio
(based on the aggregate value of the Securities on their date of deposit) and
the purchase price of the Securities to the Sponsor plus commissions payable by
the Sponsor. In addition, the Sponsor or Underwriter may realize profits or
sustain losses on Securities it deposits in the Portfolio which were acquired
from underwriting syndicates of which it was a member. During the initial
offering period, the Sponsor also may realize profits or sustain losses as a
result of fluctuations after the initial date of deposit in the Public Offering
Price of the Units. In maintaining a secondary market for Units, the Sponsor
will also realize profits or sustain losses in the amount of any difference
between the prices at which it buys Units and the prices at which it resells
these Units (which include the sales charge) or the prices at which it redeems
the Units. Cash, if any, made available by buyers of Units to the Sponsor prior
to a settlement date for the purchase of Units may be used in the Sponsor's
business to the extent permitted by Rule 15c3-3 under the Securities Exchange
Act of 1934 and may be of benefit to the Sponsor.
PERFORMANCE INFORMATION
Total returns, average annualized returns or cumulative returns for various
periods of the current Portfolio may be included from time to time in
advertisements, sales literature and reports to current and prospective
investors. Total return shows changes in unit price during the period plus
reinvestment of dividends and capital gains, divided by the maximum public
offering price. Average annualized returns show the average return for stated
periods for longer than a year. Figures reflect deduction of all Portfolio
expenses and, unless otherwise stated, the maximum sales charge. No provision is
made for any income taxes payable. Investors should bear in mind that this
represents past performance and is no assurance of the future results of any
current or future Portfolio.
Advertisements and other material distributed to prospective investors may
include the average annual compounded rate of return on selected types of assets
for periods of at least 10 years, as compiled by Ibbotson Associates, compared
to the rate of inflation over the same period. These materials may also compare
the shrinking relative proportion of world stock market capitalization
represented by U.S. markets for different years.
DEFINED ASSET FUNDS

For decades informed investors have purchased unit investment trusts for
dependability and professional selection of investments. Defined Asset
Portfolios' philosophy is to allow investors to 'buy with knowledge' (because,
unlike managed funds, the portfolio is generally fixed) and 'hold with
confidence' (because the portfolio is professionally selected and regularly
reviewed). Defined Asset Funds offer an array of simple and convenient
investment choices, suited to fit a wide variety of personal financial goals--a
buy and hold strategy for capital accumulation, such as for children's education
or retirement, or attractive, regular current income consistent with the
preservation of principal. Unit investment trusts are particularly suited for
the many investors who prefer to seek long-term profits by purchasing sound
investments and holding them, rather than through active trading. Few
individuals have the knowledge, resources or capital to buy and hold a
diversified portfolio on their own; it would generally take a considerable sum
of money to obtain the breadth and diversity that Defined Asset Funds offer.
Your investment objectives may call for a combination of Defined Asset Funds.

One of the most important investment decisions you face may be how to
allocate your investments among asset classes. Diversification among different
kinds of investments can balance the risks and rewards of each one. Most
investment experts recommend stocks for long-term capital growth. Long-term
corporate bonds offer relatively high rates of interest income. By purchasing
both defined equity and defined bond funds, investors can receive attractive
current income, as well as growth potential, offering some protection against
inflation.
Investors may pursue investment growth to meet long-term goals such as
children's education or retirement. But they are faced with decisions of
selecting stock groups, choosing individual stocks, determining when to buy and
sell and how to
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<PAGE>
reinvest sales proceeds. Growth stocks--those whose price is expected to
appreciate above average usually because of superior growth in earnings per
share--can be difficult to select successfully because their prices tend to be
more volatile than more established stocks and, by the time they are discovered
by ordinary investors, their prices may have already increased beyond attractive
levels or may be susceptible to dramatic declines if actual performance is less
than anticipated.
EXCHANGE OPTION
You may exchange Units for units of other Focus or Select Portfolios or
certain selected Equity Investor Funds with one-or two-year terms and a
combination of initial and deferred sales charges. Select and Focus Portfolios
have a sales charge for first-time investors of 1% initially and annual deferred
sales charges of $17.50 per 1,000 units. On exchanges, the initial sales charge
is waived and units are acquired subject to any remaining deferred sales
charges. Investors can also exchange units of those Portfolios and similar
series of unaffiliated equity unit investment trusts for Units, subject only to
the Fund's remaining deferred sales charges. In the future, the Exchange Option
may be extended to other series and types of trusts with similar sales charge
structures.
To make an exchange, you should contact your financial professional to find
out what suitable exchange funds are available and to obtain a prospectus. You
may acquire units of only those exchange funds in which the Sponsor is
maintaining a market and which are lawfully for sale in the state where you
reside. An exchange is a taxable event normally requiring recognition of any
gain or loss on the units exchanged. However, the Internal Revenue Service may
seek to disallow a loss if the portfolio of the units acquired is not materially
different from the portfolio of the units exchanged; you should consult your own
tax adviser. If the proceeds of units exchanged are insufficient to acquire a
whole number of exchange fund units, you may pay the difference in cash (not
exceeding the price of a single unit acquired).
As the Sponsor is not obligated to maintain a market in any series or to
offer successor portfolios, there can be no assurance that units can be
exchanged. The Exchange Option may be amended or terminated at any time without
notice.
SUPPLEMENTAL INFORMATION
Upon writing or calling the Trustee shown on the back cover of this
Prospectus, investors will receive without charge supplemental information about
the Portfolio, which has been filed with the SEC. The supplemental information
includes more detailed risk factor disclosure about the types of securities that
may be part of the Portfolio and general information about the structure and
operation of the Portfolio.
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Defined
Asset FundsSM

SPONSOR: EQUITY INVESTOR FUND
Merrill Lynch, SELECT SERIES
Pierce, Fenner & Smith IncorporatedDEFINED TECHNOLOGY PORTFOLIO
Defined Asset Funds
P.O. Box 9051
Princeton, NJ 08543-9051
(609) 282-8500 This Prospectus does not contain all of the
TRUSTEE: information with respect to the investment
The Bank of New York company set forth in its registration
Unit Investment Trust Department statement and exhibits relating thereto which
Box 974--Wall Street Division have been filed with the Securities and
New York, NY 10268-0974 Exchange Commission, Washington, D.C. under
1-800-221-7771 the Securities Act of 1933 and the Investment
Company Act of 1940, and to which reference
is hereby made. Copies of filed material can
be obtained from the Public Reference Section
of the Commission, 450 Fifth Street, N.W.,
Washington, D.C. 20549 at prescribed rates.
The Commission also maintains a Web site that
contains information statements and other
information regarding registrants such as
Defined Asset Funds that file electronically
with the Commission at http://www.sec.gov.
------------------------------
No person is authorized to give any
information or to make any representations
with respect to this investment company not
contained in its registration statement and
exhibits relating thereto; and any
information or representation not contained
therein must not be relied upon as having
been authorized.
------------------------------
When Units of this Portfolio are no longer
available or for investors who may reinvest
into subsequent Select or Focus Series, this
Prospectus may be used as a preliminary
prospectus for a future series, and investors
should note the following:
Information contained herein is subject to
amendment. A registration statement relating
to securities of a future series has been
filed with the Securities and Exchange
Commission. These securities may not be sold
nor may offers to buy be accepted prior to
the time the registration statement becomes
effective.
This Prospectus shall not constitute an offer
to sell or the solicitation of an offer to
buy nor shall there be any sale of these
securities in any State in which such offer,
solicitation or sale would be unlawful prior
to qualification under the securities laws of
any such State.

70107--8/98

<PAGE>
PART II
ADDITIONAL INFORMATION NOT INCLUDED IN THE PROSPECTUS

A. The following information relating to the Depositor is incorporated by
reference to the SEC filings indicated and made a part of this Registration
Statement.

I. Bonding arrangements of the Depositor are incorporated by reference to Item
A of Part II to the Registration Statement on Form S-6 under the Securities Act
of 1933 for Municipal Investment Trust Fund, Monthly Payment Series--573 Defined
Asset Funds (Reg. No. 333-08241).
II. The date of organization of the Depositor is set forth in Item B of Part II
to the Registration Statement on Form S-6 under the Securities Act of 1933 for
Municipal Investment Trust Fund, Monthly Payment Series--573 Defined Asset Funds
(Reg. No. 333-08241) and is herein incorporated by reference thereto.
III. The Charter and By-Laws of the Depositor are incorporated herein by
reference to Exhibits 1.3 and 1.4 to the Registration Statement on Form S-6
under the Securities Act of 1933 for Municipal Investment Trust Fund, Monthly
Payment Series--573 Defined Asset Funds (Reg. No. 333-08241).
IV. Information as to Officers and Directors of the Depositor has been filed
pursuant to Schedules A and D of Form BD under Rules 15b1-1 and 15b3-1 of the
Securities Exchange Act of 1934 and is incorporated by reference to the SEC
filing indicated and made a part of this Registration Statement:

Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221

------------------------------------
B. The Internal Revenue Service Employer Identification Numbers of the
Sponsor and Trustee are as follows:

Merrill Lynch, Pierce, Fenner & Smith Incorporated 13-5674085
The Bank of New York, Trustee................... 13-4941102

II-1
<PAGE>
SERIES OF EQUITY INCOME FUND, EQUITY INVESTOR FUND, MUNICIPAL
INVESTMENT TRUST FUND AND DEFINED ASSET FUNDS MUNICIPAL INSURED SERIES
DESIGNATED PURSUANT TO RULE 487 UNDER THE SECURITIES ACT OF 1933

SEC
SERIES NUMBER FILE NUMBER
- --------------------------------------------------------------------------------
Equity Income Fund, 'MERIT' 1987 Series (Merrill Equity
Research Investment Trust).................................. 33-10989
Equity Income Fund, Group One Overseas Index Fund, Series 1
and 2....................................................... 33-05654
Equity Income Fund, Select Ten Portfolio--1995 Spring
Series...................................................... 33-55807
Equity Investor Fund, Focus Series Financial Portfolio...... 333-32179
Equity Investor Fund, Standard & Poor's Industry Turnaround
Portfolio................................................... 333-39121
Equity Investor Fund, Select Ten Portfolio 1997 Series A.... 333-15193
Equity Investor Fund, Select Growth Portfolio............... 33-51985
Defined Asset Funds Municipal Insured Series................ 33-54565
Municipal Investment Trust Fund, Multistate Series 325...... 333-50907

CONTENTS OF REGISTRATION STATEMENT
This Registration Statement on Form S-6 comprises the following papers and
documents:
The facing sheet of Form S-6.
The Cross-Reference Sheet (incorporated by reference from the
Cross-Reference Sheet of the Registration Statement of Defined Asset Funds
Municipal Insured Series, 1933 Act File No. 33-54565).
The Prospectus.
The Signatures.
The following exhibits:

1.1 --Form of Trust Indenture (incorporated by reference to Exhibit 1.1 to
Amendment No. 2 to the Registration Statement on Form S-6 of Equity
Income Fund, Select Growth Portfolio--1995 Series 2, Defined Asset
Funds, Reg. No. 33-58535).
1.1.1 --Form of Standard Terms and Conditions of Trust Effective as of October
21, 1993 (incorporated by reference to Exhibit 1.1.1 to the
Registration Statement of Municipal Investment Trust Fund, Multistate
Series-48, 1933 Act File No. 33-50247).
1.2 --Form of Master Agreement Among Underwriters (incorporated by reference
to Exhibit 1.2 to the Registration Statement under the Securities Act
of 1933 of The Corporate Income Fund, One Hundred Ninety-Fourth
Monthly Payment Series, 1933 Act File No. 2-90925).
3.1 --Opinion of counsel as to the legality of the securities being issued
including their consent to the use of their name under the heading
'Miscellaneous--Legal Opinion' in the Prospectus.
5.1 --Consent of independent accountants.
9.1 --Information Supplement (incorporated by reference to Exhibit 9.1 to
the Registration Statement of Equity Income Fund, Select Ten Portfolio
1996 International Series B (United Kingdom and Japan Portfolios),
1933 Act File No. 33-00593).

R-1
<PAGE>
SIGNATURES
The registrant hereby identifies the series numbers of Municipal Investment
Trust Fund, Equity Income Fund, Equity Investor Fund and Defined Asset Funds
Municipal Insured Series listed on page R-1 for the purposes of the
representations required by Rule 487 and represents the following:
1) That the portfolio securities deposited in the series as to which this
registration statement is being filed do not differ materially in type
or quality from those deposited in such previous series;
2) That, except to the extent necessary to identify the specific portfolio
securities deposited in, and to provide essential information for, the
series with respect to which this registration statement is being filed,
this registration statement does not contain disclosures that differ in
any material respect from those contained in the registration statements
for such previous series as to which the effective date was determined
by the Commission or the staff; and
3) That it has complied with Rule 460 under the Securities Act of 1933.

PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THE REGISTRANT
HAS DULY CAUSED THIS REGISTRATION STATEMENT OR AMENDMENT TO THE REGISTRATION
STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY
AUTHORIZED IN THE CITY OF NEW YORK AND STATE OF NEW YORK ON THE 25TH DAY OF
AUGUST, 1998.

SIGNATURES APPEAR ON PAGE R-3.
A majority of the members of the Board of Directors of Merrill Lynch,
Pierce, Fenner & Smith Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.
R-2
<PAGE>
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEPOSITOR

By the following persons, who constitute Powers of Attorney have been filed
a majority of under
the Board of Directors of Merrill Form SE and the following 1933 Act
Lynch, Pierce, File
Fenner & Smith Incorporated: Number: 33-43466

HERBERT M. ALLISON, JR.
BARRY S. FREIDBERG
EDWARD L. GOLDBERG
STEPHEN L. HAMMERMAN
JEROME P. KENNEY
DAVID H. KOMANSKY
DANIEL T. NAPOLI
THOMAS H. PATRICK
JOHN L. STEFFENS
ROGER M. VASEY
ARTHUR H. ZEIKEL
By DANIEL C. TYLER
(As authorized signatory for Merrill Lynch, Pierce,
Fenner & Smith Incorporated and
Attorney-in-fact for the persons listed above)
R-3

<PAGE>
EXHIBIT 3.1
DAVIS POLK & WARDWELL
450 LEXINGTON AVENUE
NEW YORK, NEW YORK 10017
(212) 450-4000
AUGUST 25, 1998

EQUITY INVESTOR FUND,
SELECT SERIES DEFINED TECHNOLOGY PORTFOLIO
DEFINED ASSET FUNDS
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEFINED ASSET FUNDS
P.O. BOX 9051
PRINCETON, N.J. 08543-9051
(609) 282-8500

Dear Sirs:

We have acted as special counsel for you, as sponsor (the 'Sponsor') of
Equity Investor Fund, Select Series Defined Technology Portfolio, Defined Asset
Funds (the 'Fund'), in connection with the issuance of units of fractional
undivided interest in the Fund (the 'Units') in accordance with the Trust
Indenture relating to the Fund (the 'Indenture').

We have examined and are familiar with originals or copies, certified or
otherwise identified to our satisfaction, of such documents and instruments as
we have deemed necessary or advisable for the purpose of this opinion.

Based upon the foregoing, we are of the opinion that (i) the execution and
delivery of the Indenture and the issuance of the Units have been duly
authorized by the Sponsor and (ii) the Units, when duly issued and delivered by
the Sponsor and the Trustee in accordance with the Indenture, will be legally
issued, fully paid and non-assessable.

We hereby consent to the use of this opinion as Exhibit 3.1 to the
Registration Statement relating to the Units filed under the Securities Act of
1933 and to the use of our name in such Registration Statement and in the
related prospectus under the headings 'Taxes' and 'Miscellaneous--Legal
Opinion.'

Very truly yours,

DAVIS POLK & WARDWELL

<PAGE>
EXHIBIT 5.1
CONSENT OF INDEPENDENT ACCOUNTANTS
The Sponsor and Trustee of Equity Investor Fund
Select Series Defined Technology Portfolio,
Defined Asset Funds
We consent to the use in this Registration Statement No. 33-61205 of our opinion
dated August 25, 1998, relating to the Statement of Condition of Equity Investor
Fund, Select Series Defined Technology Portfolio, Defined Asset Funds and to the
reference to us under the heading 'Miscellaneous--Auditors' in the Prospectus
which is part of this Registration Statement.
DELOITTE & TOUCHE LLP
New York, N.Y.
August 25, 1998

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</TABLE>