MERRILL LYNCH CORPORATE BOND FUND, INC.
SUPPLEMENT DATED MAY 6, 1998,
TO PROSPECTUS DATED JANUARY 22, 1998
Effective March 24, 1998, shares of the High Income
Portfolio of the Merrill Lynch Corporate Bond Fund, Inc. (the
"Fund") will no longer be available for purchase (or exchange),
except as described below. Therefore, on or after March 24, 1998,
except as described below, the Fund will no longer sell Class A,
Class B, Class C or Class D shares of its High Income Portfolio.
After March 24, 1998, shares of the Fund's High Income
Portfolio will continue to be available for purchase under the
following circumstances: shareholders of the Fund's High Income
Portfolio may continue to elect to have dividends and distributions
paid on shares of the Portfolio reinvested in additional shares of
the Portfolio; certain participants in employer-sponsored
retirement or savings plans, including eligible 401(k) plans, will
continue to be permitted to purchase shares of the Portfolio
through such plans; and shares of the Fund's High Income Portfolio
will continue to be available for purchase by participants in
certain fee-based programs, such as the Mutual Fund Adviser program
administered by Merrill Lynch, Pierce, Fenner & Smith Incorporated.
In addition, shares of the Fund's High Income Portfolio will
continue to be available for purchase in single transactions over
$1,000,000.
Code #10046-0198ALL
