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<PAGE> PAGE 2
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
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<CIK> 0000110055
<NAME> MERRILL LYNCH CAPITAL FUND, INC.
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