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<ACCESSION-NUMBER>0000911801-01-000002
<TYPE>424B2
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<FILING-DATE>20010202
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<CONFORMED-NAME>EARTHSHELL CORP
<CIK>0000911801
<ASSIGNED-SIC>2650
<IRS-NUMBER>770322379
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
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<FILM-NUMBER>1524046
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<STREET1>9020 JUNCTION DRIVE
<STREET2>SUITE D
<CITY>ANNAPOLIS JUNCTION
<STATE>MD
<ZIP>20701-1146
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<STREET1>9020 JUNCTION DRIVE
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<FORMER-CONFORMED-NAME>EARTHSHELL CONTAINER CORP
<DATE-CHANGED>19960521
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<FILENAME>0001.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT NO. 1
<TEXT>

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<TITLE>  Prospectus Supplement No. 1 (To Prospectus Dated January 4, 2001)
</TITLE>
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<BODY>
<P  ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filing pursuant to Rule 424(b)(2)</FONT></P>
<P  ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration Statement No. 333-52256</FONT></P>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Prospectus Supplement No. 1</FONT></H1>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(To Prospectus Dated January 4, 2001)</FONT></H1>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15,000,000 Shares</FONT></H1>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EARTHSHELL CORPORATION</FONT></H1>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>You should read this
prospectus supplement along with the accompanying prospectus. These documents
contain information you should consider when making your investment decision.
You should rely only on the information contained or incorporated by reference
in this prospectus supplement and the accompanying prospectus. We have not
authorized anyone else to provide you with different or additional information. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This prospectus supplement
and the accompanying prospectus do not constitute an offer to sell or a
solicitation of an offer to buy any securities other than the common stock
offered hereby. This prospectus supplement and the accompanying prospectus do
not constitute an offer to sell or a solicitation of an offer to buy our common
stock in any circumstances in which an offer or solicitation is unlawful. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Information in this
prospectus supplement and the accompanying prospectus may change after the date
on the front of the applicable document. You should not interpret the delivery
of this prospectus supplement or the accompanying prospectus or the sale of the
common stock as an indication that there has been no change in our affairs since
that date. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
principal executive offices are located at 800 Miramonte Drive, Santa Barbara,
California 93109-1419. Our telephone number is (805) 897-2294. </FONT></P>

<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=CENTER>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Investing
in our common stock involves a high degree of risk. See &#147;Risk Factors&#148;
beginning on page 1 of the prospectus.</B> </FONT></P>

<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=CENTER>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Neither
the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.</B> </FONT></P>

<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=CENTER>

<P  ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The date of
this Prospectus Supplement is February 2, 2001</FONT></P>





<HR SIZE=1 NOSHADE WIDTH=75% ALIGN=CENTER>


<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>USE OF
PROCEEDS</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will use the net  proceeds of this  offering of our common stock as described in
the   prospectus.   See  "Use  of   Proceeds"   beginning  on  page  11  of  the
prospectus.</FONT></P>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLAN OF
DISTRIBUTION</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
date, and before the issuance of shares pursuant to this prospectus  supplement,
we have not  issued  or sold any  shares of our  common  stock  pursuant  to the
prospectus dated January 4, 2001 which is part of our Registration  Statement on
Form S-3 (File No. 333-52256). </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are  offering  and  selling  1,090,909  shares  of our  common  stock  to  Acqua
Wellington  North  American  Equities  Fund,  Ltd.  pursuant to this  prospectus
supplement. The common stock will be purchased at a negotiated purchase price of
$1.375 per share for aggregate  proceeds to EarthShell of  $1,500,000.  To date,
and including the issuance of shares pursuant to this prospectus  supplement and
the  receipt of the net  proceeds in  consideration  for those  shares,  we have
issued and sold an aggregate  of  5,548,078  shares of our common stock to Acqua
Wellington  North  American  Equities  Fund,  Ltd. for aggregate net proceeds of
$12,021,788.
</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acqua
Wellington and its pledgees,  donees,  transferees and other subsequent  owners,
may offer  their  shares at various  times in the  over-the-counter  market,  in
privately  negotiated  transactions,  at prevailing market prices at the time of
sale, at prices related to those prevailing  market prices,  at negotiated or at
fixed prices. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
transactions  in the shares may be effected by ordinary  brokerage  transactions
and transactions in which the broker solicits purchasers,  purchases by a broker
or dealer as principal,  and the resale by that broker or dealer for its account
under  this  prospectus,  including  resale to another  broker or dealer,  block
trades in which the  broker or dealer  will  attempt to sell the shares as agent
but may  position  and  resell a portion of the block as  principal  in order to
facilitate  the  transaction,   or  negotiated   transactions   between  selling
stockholders and purchasers without a broker or dealer. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have agreed to indemnify and hold harmless Acqua  Wellington and each person who
controls Acqua Wellington  against certain  liabilities,  including  liabilities
under the  Securities  Act of 1933, as amended,  which may be based upon,  among
other things,  any untrue  statement or alleged  untrue  statement of a material
fact or any omission or alleged omission of a material fact. </FONT></P>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MARKET FOR
OUR COMMON STOCK</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
common  stock  is  listed  on  the  NASDAQ  National  Market  under  the  symbol
&#147;ERTH.&#148;  On  February 1, 2001,  the closing  price of one share of our
common stock was $1.438. The common stock sold under this prospectus  supplement
will be listed on the NASDAQ National Market after we notify the NASDAQ National
Market  that the  shares  have been  issued.  As of  February  1,  2001,  we had
106,136,075 shares of common stock outstanding. </FONT></P>


<PAGE>



<PRE>
TABLE OF CONTENTS

PROSPECTUS SUPPLEMENT
                                        Page
                                        ----
USE OF PROCEEDS                          S-2
PLAN OF DISTRIBUTION                     S-2
MARKET FOR OUR COMMON STOCK              S-2

PROSPECTUS
                                        Page
                                        ----

RISK FACTORS                             1
USE OF PROCEEDS                          10
PLAN OF DISTRIBUTION                     10
LEGAL MATTERS                            11
EXPERTS                                  11
FORWARD-LOOKING STATEMENTS               11
WHERE YOU CAN FIND MORE INFORMATION      11
INFORMATION INCORPORATED BY
REFERENCE                                12
</PRE>
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