SUPPLEMENT DATED MAY 1, 1997
TO THE PROSPECTUSES OF THE MERRILL LYNCH
SELECT PRICING/SM/ SYSTEM FUNDS
"Purchase of Shares/____/Deferred Sales Charge Alternatives/__/Class B
and Class C Shares/____/Contingent Deferred Sales Charges/__/Class B Shares"
is amended by adding the following sentence:
Effective on or about May 12, 1997, the Class B CDSC also
will be waived for any Class B shares purchased within
eligible Employee Access/SM/ Accounts.
Additionally, the processing fee referred to in the Prospectus, which
Merrill Lynch may charge its customers for confirming purchases and
repurchases, is now $5.35.
Code # SELECT-ALL97
