NEW ENGLAND FUNDS TRUST I
                      NEW ENGLAND FUNDS TRUST II
                                   
     Supplement dated November 17, 1995 to New England Stock Funds
                          Class Y Prospectus
                           dated May 1, 1995
                                   
The following paragraphs are added to the section of the Prospectus
captioned "Fund Management" for New England Capital Growth Fund, New
England Balanced Fund, New England International Equity Fund, New
England Value Fund and New England Growth Opportunities Fund (the
"Funds"):

  The investment adviser of each Fund and the subadviser of New
  England Growth Opportunities Fund, are wholly-owned subsidiaries of
  New England Investment Companies, L.P. ("NEIC").  New England Mutual
  Life Insurance Company ("The New England") owns NEIC's sole general
  partner and a majority of the limited partnership interest in NEIC.
  The New England and Metropolitan Life Insurance Company ("MetLife")
  have entered into an agreement to merge, with MetLife to be the
  survivor of the merger.  The merger is conditioned upon, among other
  things, approval by the policyholders of The New England and MetLife
  and receipt of certain regulatory approvals.  The merger is not
  expected to occur until after December 31, 1995.

  The merger of The New England into MetLife is being treated, for
  purposes of the Investment Company Act of 1940 (the "Act"), as an
  "assignment" of the existing investment advisory agreements and the
  subadvisory agreements with NEIC and its affiliate companies.  Under
  the Act, such an "assignment" will result in the automatic
  termination of those agreements, effective at the time of the
  merger.  Prior to the merger, shareholders of the Funds will be
  asked to approve new investment advisory and subadvisory agreements,
  intended to take effect at the time of the merger.  A proxy
  statement describing the new agreements will be sent to shareholders
  of the Funds prior to their being asked to vote on the new
  agreements.
     
The following paragraphs are added to the section of the Prospectus
captioned "Fund Management" for New England International Equity Fund:

  NEIC, the parent company of Draycott Partners, Ltd. ("Draycott"),
  has agreed to sell Draycott to Cursitor Holdings, Ltd. U.K.
  ("Cursitor").  Draycott serves as the investment adviser to the
  Fund.  The sale is expected to occur in late December, 1995.  The
  sale is subject to a number of conditions, including approval by the
  Fund's shareholders of new investment advisory arrangements for the
  Fund.  Under these new arrangements, New England Funds Management,
  L.P., a subsidiary of NEIC, would become the Fund's investment
  adviser, and Draycott would continue to be responsible, as
  subadviser, for the day-to-day management of the Fund's investment
  portfolio.  A proxy statement describing the new arrangements will
  be sent to shareholders of the Fund prior to their being asked to
  vote on the new arrangements.  No changes in the Fund's investment
  objective or policies, or in the portfolio management personnel
  responsible for the Fund's day-to-day investment management, are
  contemplated in connection with the sale.

  Cursitor, headquartered at 66 Buckingham Gate, London, England SW1E
  6AU, is an international investment management group that had
  approximately $9.4 billion of assets under management at September
  30, 1995.

  On October 24, 1995, Alliance Capital Management, L.P. ("Alliance
  Capital") announced that it had agreed in principle to acquire the
  business of Cursitor and of an affiliated company, Cursitor-Eaton
  Asset Management Company.  If consummated, this acquisition would
  result in Draycott becoming a wholly-owned subsidiary of a new
  entity, Cursitor Alliance LLC, in which Alliance Capital would own a
  93% interest.  Alliance Capital Management Corporation ("ACMC"), the
  sole general partner of, and the owner of a 1% general partnership
  interest in, Alliance Capital, is an indirect wholly-owned
  subsidiary of The Equitable Life Assurance Society of the United
  States, which is a wholly-owned subsidiary of The Equitable
  Companies Incorporated, a holding company controlled by AXA, a
  French insurance holding company.

The following paragraphs are added to the section of the Prospectus
captioned "Ways to Buy Fund Shares" for each of the Funds:

  Investment checks should be made payable to New England Funds.

  New England Funds will accept second-party checks (up to $10,000)
  for investments into existing accounts only.  (A second-party check
  is a check made payable to a New England Funds shareholder which the
  shareholder has endorsed to New England Funds for deposit into an
  account registered to the shareholder.)

  New England Funds will NOT accept third-party checks, except certain
  third-party checks issued by other mutual fund companies, broker
  dealers or banks representing the transfer of retirement assets.  (A
  third-party check is a check made payable to a party which is not a
  New England Funds shareholder, but which has been ultimately
  endorsed to New England Funds for deposit into an account.)