Filed Pursuant to Rule 497(e)
File No. 002-74452
MERRILL LYNCH VARIABLE SERIES FUNDS, INC.
Supplement dated December 18, 1997 to the
Prospectus dated April 25, 1997
Robert M. Shearer has become the Portfolio Manager of the
Natural Resources Focus Fund and is now responsible for the
Fund's day-to-day management. Mr. Shearer was an Associate
Portfolio Manager of the Fund since September 1997. From 1996 to
1997 he was a Vice President and an Assistant Portfolio Manager
at David L. Babson and Company, Incorporated. From 1993 to 1996
he was a Vice President/Sector Manager at Concert Capital
Management. From 1988-1993 he was the Senior Energy Analyst at
Fiduciary Trust Company International.
MERRILL LYNCH VARIABLE SERIES FUNDS, INC.
Supplement dated December 18, 1997 to the
Statement of Additional Information dated April 25, 1997
The name and biography of the portfolio manager of the
Natural Resources Focus Fund, which is listed under "Management
of the Fund," is revised as follows:
Robert M. Shearer (42) - Portfolio Manager (1)(2) - Vice
President of MLAM since 1997.
