Merrill Lynch Institutional Fund
Merrill Lynch Government Fund
of
Merrill Lynch Funds For Institutions Series
Supplement dated January 23, 1995 to
Prospectuses and Statements of Additional Information
dated August 29, 1994
----------------
All references in the Prospectuses and Statements of Additional Information
of Merrill Lynch Institutional Fund and Merrill Lynch Government Fund of Merrill
Lynch Funds For Institutions Series (the "Funds") to the time of day for
determination of net asset value per share of the Funds for purposes of
purchases or redemptions, and for purposes of determining shareholders of record
for declarations of dividends, shall be to 3:00 p.m. Boston time, rather than
2:00 p.m. Boston time.
NCS4550.1
