MERRILL LYNCH CORPORATE HIGH YIELD FUND, INC.
Supplement dated May 11, 2000
to Prospectus dated July 27, 1999
Effective May 15, 2000, the Fund will change its name to the Merrill Lynch
U.S. High Yield Fund, Inc.
Effective on or about May 11, 2000, the Fund also will do business as
"Mercury U.S. High Yield Fund" in connection with sales of trust interests in
qualified state tuition programs established pursuant to Section 529 of the
Internal Revenue Code of 1986, as amended.
The following information supersedes and replaces any contrary information
contained in the Prospectus under the caption "Details About the Fund -- How the
Fund Invests ":
Effective May 31, 2000, the Fund will limit its investments in foreign
securities to 10% of its assets. The Fund will limit its future investments in
foreign securities to issuers, a majority of whose assets, or whose executive
offices, are located in a country that is a member of the Organisation For
Economic Co-operation and Development.
Code #19025-07-99
