<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000701960
<NAME>MERRILL LYNCH PHOENIX FUND, INC
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-2000
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 502458101
<INVESTMENTS-AT-VALUE> 508817228
<RECEIVABLES> 4451633
<ASSETS-OTHER> 74872
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 513343733
<PAYABLE-FOR-SECURITIES> 2943655
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3424009
<TOTAL-LIABILITIES> 6367664
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 416106324
<SHARES-COMMON-STOCK> 12511814
<SHARES-COMMON-PRIOR> 15251431
<ACCUMULATED-NII-CURRENT> (29498)
<OVERDISTRIBUTION-NII> (172473)
<ACCUMULATED-NET-GAINS> 84712589
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6359127
<NET-ASSETS> 165523822
<DIVIDEND-INCOME> 4971697
<INTEREST-INCOME> 6350953
<OTHER-INCOME> 0
<EXPENSES-NET> (8949370)
<NET-INVESTMENT-INCOME> 2373280
<REALIZED-GAINS-CURRENT> 93613287
<APPREC-INCREASE-CURRENT> (31241270)
<NET-CHANGE-FROM-OPS> 64745297
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (62223)
<DISTRIBUTIONS-OF-GAINS> (19332398)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2592979
<NUMBER-OF-SHARES-REDEEMED> (6732783)
<SHARES-REINVESTED> 1400187
<NET-CHANGE-IN-ASSETS> (30591516)
<ACCUMULATED-NII-PRIOR> 1928693
<ACCUMULATED-GAINS-PRIOR> 42700906
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8422317
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8949370
<AVERAGE-NET-ASSETS> 194309617
<PER-SHARE-NAV-BEGIN> 13.06
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 1.47
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.28)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.23
<EXPENSE-RATIO> 2.23
</TABLE>
