THE EQUITABLE COMPANIES INCORPORATED

Condensed Consolidated Statements of Earnings
(Unaudited)(In $ millions, except per share amounts)

	Three Months Ended September 30,		Nine Months Ended September 30,
	1998	1997	1998	1997
Total revenues	$2,373.6	$2,521.1	$8,269.9	$7,338.6
Total benefits and other deductions	2,107.2	2,154.5	7,013.5	6,271.8
Earnings from continuing operations before Federal income taxes and minority interest	266.4	366.6	1,256.4	1,066.8
Federal income taxes	86.0	116.5	414.8	376.2
Minority interest in net income of consolidated subsidiaries	41.3	63.5	188.9	112.6
Earnings from continuing operations	139.1	186.6	652.7	578.0
Discontinued operations, net of Federal income taxes	.7	(.2)	2.5	(2.9)
Net earnings	139.8	186.4	655.2	575.1
After-tax interest expense on convertible debt	----	1.3	----	8.9
Dilutive effect of subsidiary options	(1.5)	(6.5)	(13.4)	(14.1)
Net Earnings Applicable to Common Shares	$138.3	$181.2	$641.8	$569.9
Earnings from Continuing Operations Per Common Share*:
Basic	$.63	$.87	$2.94
Diluted	$.61	$.81	$2.84	$2.58
Net Earnings Per Common Share*:
Basic	$.63	$.87	$2.95	$2.87
Diluted	$.62	$.81	$2.85	$2.57
Weighted Average Number of Common Shares Outstanding:
Basic	221.9	211.1	222.3	194.8
Diluted	225.1	224.0	225.3	221.7
Cash Dividends Per Common Share	$.05	$.05	$.15	$.15