SUPPLEMENT DATED DECEMBER 17, 1996 TO THE PROSPECTUS OF CMA MONEY
FUND, CMA GOVERNMENT SECURITIES FUND, CMA TAX-EXEMPT FUND AND
CMA TREASURY FUND DATED JULY 26, 1996.
The next to last paragraph on the cover page of the prospectus is amended by
adding the following sentence immediately after the sentence therein which
reads "A different fee may be charged to certain group plans and special
accounts.":
In addition, on or about January 2, 1997, certain group plans and
special accounts offered by Merrill Lynch (such as the Employees
Access/sm/ Account financial service) may not afford participants in
such plans and accounts access to all of the CMA Funds. Participants in
such plans or special accounts should refer to the relevant program
descriptions or other explanatory material for such plans or accounts to
determine which of the CMA Funds are available to them.
code #10117-0796EAA