Merrill Lynch Variable Series Funds, Inc.
Supplement to the Prospectus Dated April 16, 1999
Page A-3 of the Prospectus is amended by adding the following paragraph:
More than one Insurance Company may invest in each Fund. It is possible that a
difference may arise among the interests of Insurance Companies that invest in a
Fund or the holders of different types of Contracts-for example, if applicable
state insurance law or Contract owner instructions prevent an Insurance Company
from continuing to invest in a Fund following a change in the Fund's investment
policies, or if different tax laws apply to variable life insurance contracts
and variable annuities. The Fund and the Insurance Companies will attempt to
monitor events to prevent such differences from arising. If a conflict between
Insurance Companies occurs, however, the Fund may be required to take actions
that are adverse to the interests of a particular Insurance Company and its
Contract owners, or to the interests of holders of a particular type of Contract
