MERRILL LYNCH NEW YORK MUNICIPAL BOND FUND OF
THE MERRILL LYNCH MULTI-STATE MUNICIPAL SERIES TRUST
Supplement dated February 16, 1995 to
Prospectus dated January 31, 1995
The third sentence in the second paragraph set forth under "Purchase
of Shares" is replaced by the following:
As to purchase orders received by securities dealers
prior to the close of business on the New York Stock
Exchange (generally, 4:00 P.M., New York time), which
includes orders received after the close of business on
the previous day, the applicable offering price will be
based on the net asset value determined as of 15
minutes after the close of business on the New York
Stock Exchange on that day, provided the Distributor in
turn receives the order from the securities dealer prior to
30 minutes after the close of business on the New York
Stock Exchange on that day.
Code #10042-0195ALL
