<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM AT&T-FIRST
EXCHANGE SERIES IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER> 1

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               SEP-30-1997
<INVESTMENTS-AT-COST>                      298,343,900
<INVESTMENTS-AT-VALUE>                   1,732,776,714
<RECEIVABLES>                                3,286,297
<ASSETS-OTHER>                               2,564,043
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           1,738,627,054
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                          3,392,960
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   298,300,612
<SHARES-COMMON-STOCK>                       14,505,395
<SHARES-COMMON-PRIOR>                       15,726,053
<ACCUMULATED-NII-CURRENT>                    2,500,668
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                 1,434,432,814
<NET-ASSETS>                             1,735,234,094
<DIVIDEND-INCOME>                           42,399,400
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (438,859)
<NET-INVESTMENT-INCOME>                     41,960,541
<REALIZED-GAINS-CURRENT>                    86,260,735
<APPREC-INCREASE-CURRENT>                  456,514,395
<NET-CHANGE-FROM-OPS>                      584,735,671
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (42,211,078)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                  1,220,658
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     428,439,799
<ACCUMULATED-NII-PRIOR>                      3,030,470
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0


</TABLE>