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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000912057-01-512489.txt : 20010504
<SEC-HEADER>0000912057-01-512489.hdr.sgml : 20010504
ACCESSION NUMBER:		0000912057-01-512489
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAINEWEBBER PACE SELECT ADVISORS TRUST
		CENTRAL INDEX KEY:			0000930007
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	033-87254
		FILM NUMBER:		1620965

	BUSINESS ADDRESS:	
		STREET 1:		C/O MITCHELL HUTCHINS
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127133269

	MAIL ADDRESS:	
		STREET 1:		C/O MITCHELL HUTCHINS
		STREET 2:		51 WEST 52ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST
		DATE OF NAME CHANGE:	19941212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINEWEBBER CONSULTING FUND PRODUCT
		DATE OF NAME CHANGE:	19940914
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>a2047646z497.txt
<DESCRIPTION>497
<TEXT>

<PAGE>

                     PAINEWEBBER PACE SELECT ADVISORS TRUST

             SUPPLEMENT TO PROSPECTUSES DATED NOVEMBER 27, 2000 FOR
                                 CLASS P SHARES
                                       AND
                          PACE MONEY MARKET INVESTMENTS


                                                                   May 1, 2001
Dear Investor,

The purpose of this supplement is to notify you of the following changes:

The manager and distributor of PACE has been renamed Brinson Advisors, Inc.
Brinson Advisors is a wholly owned asset management subsidiary of UBS Americas
Inc. UBS Americas Inc. is a wholly owned subsidiary of UBS AG, an
internationally diversified organization with headquarters in Zurich,
Switzerland and operations in many areas of the financial services industry.

PaineWebber Incorporated has been renamed "UBS PaineWebber Inc."


For more information on the PACE funds, please contact your Financial Advisor.


                                                 Item #: ZS-94
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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