MERRILL LYNCH CORPORATE BOND FUND INC/NY, 497, 1995-05-02

MERRILL LYNCH CORPORATE BOND FUND INC/NY
497, 1995-05-02

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             MERRILL LYNCH CORPORATE BOND FUND, INC.

      Supplement dated May 2, 1995 to the Prospectus dated
                        January 31, 1995


          The first paragraph of "Investment Policies of the
Portfolios--Investments in Foreign Securities" on page 19 of the
prospectus is deleted and replaced by the following:

          Each Portfolio of the Fund may invest in securities
issued by foreign governments (or political subdivisions or
instrumentalities thereof) or foreign companies (collectively,
"Foreign Securities").  A Portfolio may only invest in Foreign
Securities if, at the time of acquisition, no more than 25% of the
assets of such Portfolio (taken at market value at the time of the
investment) would be invested in Foreign Securities following such
investment.

Code # 10046-0195ALL

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