MERRILL LYNCH CONVERTIBLE FUND, INC.
SUPPLEMENT DATED OCTOBER 10, 1997 TO THE PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION, EACH DATED AUGUST 4, 1997
The discussion of systematic withdrawal plans under "Shareholder
Services" is modified by deleting the references to Class A shares and Class
D shares. Effective immediately, shares of all classes are eligible for
inclusion in such plans. However, in the case of Class B and Class C shares,
the maximum value of shares that can be redeemed from an account annually
shall not exceed 10% of the value of shares of such class in that account at
the time the election to join the systematic withdrawal plan was made. No
otherwise applicable CDSC will be charged on redemption of such shares.
Class B and Class C shares redeemed through a systematic withdrawal plan will
be redeemed in the same order as Class B and Class C shares are otherwise
redeemed. See "Purchase of Shares--Deferred Sales Charge Alternatives--
Class B and Class C Shares--Contingent Deferred Sales Charges--Class B
Shares" and "--Contingent Deferred Sales Charges--Class C Shares" in the
Prospectus. Where the systematic withdrawal plan is applied to Class B
shares, upon conversion of the last Class B shares in the account to Class D
shares, the systematic withdrawal plan will automatically be applied
thereafter to Class D shares. See "Purchase of Shares--Deferred Sales Charge
Alternatives--Class B and Class C Shares--Conversion of Class B Shares to
Class D Shares."
For redemptions through the CMA(Registered Trademark) or CBA(Registered
Trademark) Systematic Redemption Program, a shareholder may elect to have his
or her shares redeemed on the first, second, third or fourth Monday of each
month, in the case of monthly redemptions, or of every other month, in the
case of bimonthly redemptions. For quarterly, semiannual or annual
redemptions, the shareholder may select the month in which the shares are to
be redeemed and may designate whether the redemption is to be made on the
first, second, third or fourth Monday of the month.
Code #19010-0897ALL
#19011-0897ALL
