MERRILL LYNCH CORPORATE BOND FUND, INC.
SUPPLEMENT, DATED MARCH 25, 1998,
TO PROSPECTUS DATED JANUARY 28, 1997
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; 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; and
until April 28, 1998, shareholders who hold Class A shares of the Fund's High
Income Portfolio will be permitted to continue to purchase additional Class A
shares of the Portfolio.
Code #10046-98AL
