MERRILL LYNCH GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT

                  SUPPLEMENT DATED FEBRUARY 6, 1998 TO THE 
           STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 28, 1997


     The name and biography of the  portfolio manager for the Fund, which  is
listed under "Management of the Fund - Trustees and Officers," is  revised by
deleting the paragraph relating to Sean J. Casey and adding the following:

     Paolo H. Valle (40) - Portfolio Manager (1)(2) - First Vice President of
the Investment Adviser  since 1997; Vice President of  the Investment Adviser
from 1992 to 1997; Senior  Portfolio Manager of the Investment  Adviser since
1992.


Code #10418-0497ALL



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