MERRRILL LYNCH INTERNATIONAL EQUITY FOCUS FUND
OF
MERRILL LYNCH VARIABLE SERIES FUNDS, INC.
Supplement dated May 5, 1998 to the
Prospectus dated April 17, 1998
The seventh paragraph under "Management of the Fund -
Advisory and Management Arrangements," which provides information
about the portfolio manager of the Fund, is revised by deleting
the information relating to Andrew John Bascand and adding the
following:
Clive D. Lang has become the Portfolio Manager of the Fund
effective April 20, 1998. Mr. Lang is the Asset Allocator for the
Fund and, as such, is primarily responsible for determining the
allocation of the Fund's assets among world markets. Mr. Lang
has been associated with MLAM U.K. and has served as a Senior
Quantitative Analyst for the Fund since 1996, and was prior to
that the Chief Investment Officer of Panagora Asset Management
Limited.
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MERRRILL LYNCH INTERNATIONAL EQUITY FOCUS FUND
OF
MERRILL LYNCH VARIABLE SERIES FUNDS,INC.
Supplement dated May 5, 1998 to the
Statement of Additional Information dated April 17, 1998
This section entitled "Management of the Fund - Trustees and
Officers," is revised by deleting the information relating to
Andrew John Bascand and adding the following:
Clive D. Lang (47) - Portfolio Manager (1) - Associated with
MLAM U.K. and Senior Quantitative Analyst for the Fund since
1996; Chief Investment Officer of Panagora Asset Management
Limited from 1994 to 1996.
