<PAGE> 1
MERCURY V.I. U.S. LARGE CAP FUND OF
MERCURY ASSET MANAGEMENT V.I. FUNDS, INC.
Supplement dated June 18, 1999
to the Prospectus dated April 19, 1999
Page A-2 of the Prospectus is amended by adding the following paragraph:
More than one participating insurance company may invest in each Fund to support
either variable life insurance or variable annuity contracts, or both. It is
possible that a difference may arise among the interests of the holders of
different types of contracts--for example, if different tax laws apply, or if
applicable state insurance law or contract owner instructions prevent a
participating insurance company from continuing to invest in a Fund following a
change in the Fund's investment policies. The Fund and the participating
insurance companies will attempt to monitor events to prevent such differences
from arising. If a conflict between participating insurance companies occurs,
however, the Fund may be required to take actions that are adverse to the
interests of a particular participating insurance company and its contract
owners.
