MUNIHOLDINGS CALIFORNIA INSURED FUND V, INC.
July 22, 1999
VIA ELECTRONIC FILING
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Attention: Division of Investment Management
Re: MuniHoldings California Insured Fund V, Inc.
Pre-Effective Amendment No. 3 to
Registration Statement on Form N-2
(File Nos. 333-77531 and 811-09313)
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Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended (the
"1933 Act"), MuniHoldings California Insured Fund V, Inc. (the "Fund") hereby
certifies that:
(1) the form of prospectus that would have been filed pursuant to Rule
497(c) under the 1933 Act would not have differed from that
contained in Pre-Effective Amendment No. 3 to the Fund's
Registration Statement on Form N-2, constituting the most recent
amendment to the Fund's Registration Statement on Form N-2; and
(2) the text of Pre-Effective Amendment No. 3 to the Fund's Registration
Statement on Form N-2 was filed electronically with the Securities
and Exchange Commission on July 20, 1999.
Very truly yours,
MUNIHOLDINGS CALIFORNIA INSURED
FUND V, INC.
By: /s/ William E. Zitelli, Jr.
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William E. Zitelli, Jr.
Secretary
