MERRILL LYNCH CORPORATE BOND FUND, INC.
SUPPLEMENT DATED OCTOBER 26, 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") were
no longer available for purchase (or
exchange), except as follows: shareholders
of the Fund's High Income Portfolio could
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, continued to
be permitted to purchase shares of the
Portfolio through such plans; shares of the
Fund's High Income Portfolio continued to be
available for purchase by participants in
certain fee-based programs, such as the Mutual
Fund Advisor program administered by Merrill
Lynch, Pierce, Fenner & Smith Incorporated;
and shares of the Fund's High Income Portfolio
continued to be available for purchase in
single transactions over $1,000,000.
Effective October 26, 1998, Class A,
Class B, Class C, and Class D shares of the
Fund's High Income Portfolio will also be
available for purchase by existing shareholders
of High Income Portfolio.
Code# 10046-0198ALL2
