MERRILL LYNCH SERIES FUND, INC.
Supplement Dated May 5, 1999
to the Prospectus Dated April 21, 1999
Page 3 of the Prospectus for Merrill Lynch Intermediate Government Bond
Portfolio is amended by deleting the paragraphs headed "What are the Portfolio's
goals?" and "What are the Portfolio's main investment strategies?" and replacing
them with the following:
WHAT ARE THE PORTFOLIO'S GOALS?
The Portfolio tries to provide current income from an actively managed portfolio
of U.S. government and agency securities. We cannot guarantee that the Portfolio
will achieve its goals.
WHAT ARE THE PORTFOLIO'S MAIN INVESTMENT STRATEGIES?
The Portfolio invests in bonds and other debt securities that are issued or
guaranteed by the U.S. government or U.S. government AGENCIES or
GOVERNMENT-SPONSORED ENTERPRISES. The Portfolio may invest a substantial
portion of its assets in MORTGAGE-BACKED SECURITIES issued by
government-sponsored enterprises. The Portfolio may also invest in securities
linked to an interest rate or other index. The Portfolio may invest in
securities of any MATURITY, but under normal circumstances will maintain a
dollar-weighted average maturity of six to eight years.
Page 7 of the Prospectus for Merrill Lynch Intermediate Government Bond
Portfolio is amended by deleting the second paragraph and replacing it with the
following:
The Portfolio may invest in securities of any maturity. Under normal
circumstances, however, the Portfolio will maintain a dollar-weighted average
maturity of six to eight years.
