MERRILL LYNCH GLOBAL BOND FOCUS FUND
OF
MERRILL LYNCH VARIABLE SERIES FUNDS, INC.
Supplement dated January 14, 1998
Prospectus dated April 17, 1998
The eleventh paragraph under " Management of the Fund - Advisory and
Management Arrangements," which provides information about the portfolio manger
of the Fund, is revised by deleting the information relating to Paolo H. Valle
and adding the following:
Harry Escobar is the Portfolio Manager of the Fund. Mr. Escobar has
been a Director (Global Fixed Income) of MLAM since August 1998. Previously he
was a Senior Vice President in the Fixed Income group at Lehman Brothers, Inc.
from 1991 to1998, a Trading Manager for fixed income securities at Citibank
Securities from 1985 to 1991, and a Portfolio Manager at MLAM from 1978 to 1985.
Mr. Escobar is primarily responsible for the day-to-day management of the Fund's
investment portfolio.
