MSG ID: 000935-959569
[DESCRIPTION] THE MUNICIPAL FUND ACCUMULATION PROGRAM, INC. SUPPLEMENT
[TEXT]
THE MUNICIPAL FUND ACCUMULATION PROGRAM, INC.
Supplement dated January 4, 1996
to the Prospectus dated May 1, 1995
The Prospectus is amended by substituting the following
language for the last paragraph of "Management of the Program -
Advisory and Administration Arrangements" on page 11:
William Michael Petty is the Portfolio Manager for the
Program and is responsible for the day-to-day management of the
Program. Mr. Petty has been employed by Merrill Lynch Asset
Management L.P., since 1993 as Vice President and was an Assistant
Vice President thereof from 1992 to 1993. Prior thereto, he was a
Municipal Bond Broker with J.J. Kenny Municipal Bond Brokers from
1990 to 1992.
