MERRILL LYNCH INSTITUTIONAL INTERMEDIATE FUND, 497, 1997-06-04

MERRILL LYNCH INSTITUTIONAL INTERMEDIATE FUND
497, 1997-06-04

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                                                             File No. 033-08708
							     Rule 497(e)

	
            Merrill Lynch Intermediate Government Bond Fund

                 Supplement dated June 4, 1997 to the
                  Prospectus dated February 18, 1997



     The second paragraph on page 11 of the prospectus  is deleted and replaced
with the following:


     Ralph A. DeCesare is the  Portfolio Manager  for the Fund and is primarily
responsible for the day-to-day management of the Fund.  Mr. DeCesare has served
as Vice President of MLAM since 1993.





CODE 10431-0297ALL<PAGE>

            Merrill Lynch Intermediate Government Bond Fund

                 Supplement dated June 4, 1997 to the
      Statement of Additional Information dated February 18, 1997



     The Statement  of  Additional  Information  is  amended  by  including the
following biographical information on page 6 under the heading,"Management of
the  Fund."  The  sub-heading  of  this  section  should  be  amended  to read,
"Trustees, Officers and Portfolio Manager."


     RALPH A. DECESARE (36)--Portfolio Manager--Vice  President of MLAM since
1993; Assistant Vice President of MLAM since 1991; and Credit Analyst of MLAM
since 1990.





CODE 10432-0297ALL