MERRILL LYNCH GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT
Supplement dated December 16, 1998 to the
Prospectus dated April 2, 1998
The seventh paragraph under "Management of the Fund - Management and
Advisory Arrangements" is revised by deleting the entire paragraph and adding
the following:
VINCENT T. LATHBURY, III is the Fund's Portfolio Manager. Mr. Lathbury has
been First Vice President of MLAM since 1997, Portfolio Manager of FAM and MLAM
since 1982 and was Vice President of MLAM from 1982 to 1997. Mr. Lathbury is
primarily responsible for the day-to-day management of the Fund's investment
portfolio.
Code #10417-0498ALL
