MERRILL LYNCH VARIABLE SERIES FUNDS, INC.
SUPPLEMENT DATED JANUARY 20, 1998 TO
PROSPECTUS DATED APRIL 25, 1997
Effective January 15, 1998, R. Elise Baum will serve as Co-
Manager of the Merrill Lynch Special Value Focus Fund along with
Daniel V. Szemis. Together, Mr. Szemis and Ms. Baum will be
primarily responsible for the day-to-day management of the Fund.
Ms. Baum has served as Vice President of MLAM since 1995; Senior
Fund Analyst from 1994-1995; Fund Analyst from 1993-1994;
Consultant from 1992-1993.
Effective January 15, 1998, Paolo H. Valle will be serving as
the Portfolio Manager for the Global Bond Focus Fund, and will be
primarily responsible for the day-to-day management of the Fund.
Mr. Valle has served as Vice President and Senior Portfolio Manager
of MLAM since 1992.
