Filed Pursuant to Rule 497(e)
File No. 2-57354
MERRILL LYNCH MUNICIPAL BOND FUND, INC.
Supplement dated February 5, 1998 to
Statement of Additional Information dated October 7, 1997
Effective immediately, the contingent deferred sales charge
of 0.20% that ordinarily would apply to purchases of Class A or
Class D shares of the Limited Maturity Portfolio redeemed within
one year of purchase is waived with respect to any purchase in
excess of $25 million and any subsequent purchase after which
the value of the purchaser's investment in the Portfolio is at
least $25 million, provided that the purchaser (i) is an
individual who has maintained a brokerage account with Merrill
Lynch, Pierce, Fenner & Smith Incorporated for at least the last
three years, (ii) is purchasing for his or her own account, and
(iii) is an executive officer of a corporation with which the
Corporate and Institutional Client Group of Merrill Lynch has
had an investment banking relationship for at least the last
three years.
Code #10130-0298
