February 10, 1997

To the Board of Directors of
  The Equitable Life Assurance Society of the United States

We have audited the  consolidated  financial  statements of The  Equitable  Life
Assurance Society of the United States ("Equitable Life") included in its Annual
Report on Form 10-K for the year ended  December  31, 1996 and issued our report
thereon dated February 10, 1997. Note 2 to the consolidated financial statements
describes a change in Equitable  Life's method of accounting  for  long-duration
participating life insurance contracts. It should be understood that alternative
methods of  accounting  for such life  insurance  contracts are permitted in the
authoritative literature and in arriving at our opinion expressed below, we have
relied  on  management's   business  planning  and  judgment.   Based  upon  our
discussions  with  management and the stated reasons for the change,  we believe
that such change represents, in your circumstances, the adoption of a preferable
alternative accounting principle for long-duration  participating life insurance
contracts in conformity with Accounting Principles Board Opinion No. 20.

Yours very truly,



/s/Price Waterhouse LLP
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