MERRILL LYNCH BASIC VALUE FUND, INC.
SUPPLEMENT DATED JULY 12, 1999 TO PROSPECTUS DATED OCTOBER 27, 1998
The "sidebar" labeled "About the Portfolio Manager" on page 7 of the
Fund's prospectus is amended to read as follows:
"Paul M. Hoffmann and Kevin Rendino are co-portfolio managers and Senior
Vice Presidents of the Fund. Mr. Hoffmann has been a First Vice President of
Merrill Lynch Asset Management since 1997 and was a Vice President from 1976
to 1997. He has been a portfolio manager of the Fund since 1977 and was
responsible for management of the Fund from 1977 until 1999. Mr. Hoffmann and
Mr. Rendino will jointly manage the Fund during a transition period prior to
Mr. Hoffmann's anticipated retirement, after which Mr. Rendino will assume
sole responsibility for management of the Fund. Mr. Rendino has been a First
Vice President of Merrill Lynch Asset Management since 1997, and a Vice
President from 1993 to 1997."
Code #10042-1098 ALL
