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MERRILL LYNCH U.S.A. GOVERNMENT RESERVES
Supplement dated April 27, 1995 to
Prospectus dated December 28, 1994
The disclosure set forth under "Purchase of Shares" is modified to add
the following:
The minimum initial or subsequent purchase requirements may be waived
for certain employer-sponsored retirement or savings plans, such as tax
qualified retirement plans within the meaning of Section 401(a) of the
Internal Revenue Code of 1986, as amended (the "Code"), deferred compensation
plans within the meaning of Section 403(b) and Section 457 of the Code, other
deferred compensation arrangements, Voluntary Employee Benefits Association
("VEBA") plans, and non-qualified After Tax Savings and Investment programs,
maintained on the Merrill Lynch Group Employee Services System, referred to
herein as "Employer Sponsored Retirement or Savings Plans".
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