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SUPPLEMENT DATED JANUARY 31, 1994
TO
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED NOVEMBER 29, 1993
OF
MERRILL LYNCH NATURAL RESOURCES TRUST
Effective January 31, 1994, the name of Merrill Lynch Natural Resources Trust
(the "Trust") will be changed to Merrill Lynch Global Resources Trust. The
Trust expects that, under normal circumstances, at least 65% of its total
assets will be invested in the securities of issuers from at least three
different countries (including the United States). For purpose of this policy,
an issuer ordinarily will be considered to be located in the country under the
laws of which it is organized or where the primary trading market of its
securities is located. The Trust, however, may consider a company to be located
in a country, without reference to its domicile or to the primary trading
market of its securities, when at least 50% of its non-current assets,
capitalization, gross revenues or profits in any one of the two most recent
fiscal years represents (directly or indirectly through subsidiaries) assets or
activities located in such country. The Trust also may consider closed-end
investment companies to be located in the country or countries in which they
primarily make their portfolio investments. The risks attendant to investing in
foreign securities are described in the Prospectus under the heading
"Investment Objectives and Policies--Special Considerations."
In addition, effective January 31, 1994, the Trust's portfolio will be
managed by a new portfolio manager. Reference is made to the section entitled
"Management of the Trust--Management and Advisory Arrangements." The following
should be inserted in lieu of the last paragraph of such section:
Peter Lehman is primarily responsible for the day-to-day management of
the Trust's portfolio. Mr. Lehman has been a senior fund analyst for an
international fund managed by the Investment Adviser since 1992 and prior
thereto was a global natural resources portfolio manager and basic industry
analyst for the Prudential Insurance Company.
Code # 10301ALL
10302ALL
