MERRILL LYNCH MUNICIPAL BOND FUND INC, 497, 1996-01-04

MERRILL LYNCH MUNICIPAL BOND FUND INC
497, 1996-01-04

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             MERRILL LYNCH MUNICIPAL BOND FUND, INC.

                Supplement dated January 4, 1996
            to the Prospectus dated October 31, 1995


          The Prospectus is amended by substituting the following
language for the second paragraph of "Investment Adviser" on page
28:

          Kenneth A. Jacob has served as the Portfolio Manager for
the Insured and National Portfolios since 1995 and is primarily
responsible for the day-to-day management of those portfolios.  He
has served as Vice President of the Fund and of the Investment
Adviser since 1984.  Peter J. Hayes has served as the Portfolio
Manager for the Limited Maturity Portfolio and Vice President of
the Fund since 1995.  Mr. Hayes is primarily responsible for day to
day management of the Limited Maturity Portfolio and has served as
a Vice President of the Investment Adviser since 1988.


Code # 10130-1095ALL