1 FILED PURSUANT TO RULE 424(b)(3) REGISTRATION NO. 333-45443 PROSPECTUS SUPPLEMENT DATED APRIL 30, 1998 TO THE PROSPECTUS DATED APRIL 10, 1998 ALTERNATIVE LIVING SERVICES, INC. Alternative Living Services, Inc. (the "Company") has prepared this Prospectus Supplement to update certain information included in the Company's Prospectus dated April 10, 1998 relating to the Company's $35,000,000 aggregate principal amount of Convertible Subordinated Debentures due 2006 (the "Debentures") issued in a private placement on May 17, 1996 and the 1,717,217 shares of common stock, $.01 par value, of the Company that are issuable upon conversion of the Debentures, subject to adjustment under certain circumstances. The table set forth in the Prospectus under the caption "SELLING SECURITYHOLDERS" is hereby supplemented as follows: PRINCIPAL PRINCIPAL AMOUNT AMOUNT OF OF DEBENTURES DEBENTURES PERCENT OF BENEFICIALLY THAT MAY BE OUTSTANDING NAME OWNED SOLD DEBENTURES - ---- --------------- ------------- ------------- Bankers Trust, Trustee for Chrysler Corp. Emp. #1 Pension Plan dated 4/1/89................................... $2,500,000 $2,500,000 7.1% HBK Finance L.P............................................. 658,000 658,000 1.9 HBK Offshore Fund Ltd....................................... 527,000 527,000 1.5 Mellon Bank NA, Trustee for NYNEX Master Pension Trust dated 11/1/84................................. 500,000 500,000 1.4 Scofield, Anthony L......................................... 72,250 72,250 * Scofield, Nanette E......................................... 72,250 72,250 * SoundShore Partners L.P..................................... 1,900,000 1,900,000 5.4 State Street Bank, Custodian for GE Pension Trust........... 2,500,000 2,500,000 7.1 Tanenbaum, Edith G.......................................... 72,250 72,250 * - ---------------------- * Less than 1%