MERRILL LYNCH MUNICIPAL BOND FUND INC, 497, 1996-01-09

MERRILL LYNCH MUNICIPAL BOND FUND INC
497, 1996-01-09

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           MERRILL LYNCH MUNICIPAL BOND FUND, INC.

              SUPPLEMENT DATED JANUARY 9, 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 the day-to-day
management of the Limited Maturity Portfolio and has served as a Vice President
of the Investment Adviser since 1988.


Code # 10051-1095ALL