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Merrill Lynch Index Funds, Inc.
Supplement dated May 11, 1998 to the
Prospectus dated March 31, 1998
The discussion of transfer agency services under "Management of the
Funds--Transfer Agency Services" is modified by deleting the last four sentences
on page 22 of the Prospectus and substituting the following:
Pursuant to the Transfer Agency Agreement, the Transfer Agent receives an annual
fee at the annual rate of .05% of the average daily value of the net assets of a
Fund for its services and is entitled to reimbursement for out-of-pocket
expenses incurred by it under the Transfer Agency Agreement.
Code #19003-0598ALL