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                                                       Rule 497(e)
                                                       Registration No. 33-14517

                     MERRILL LYNCH STRATEGIC DIVIDEND FUND
 
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                SUPPLEMENT TO PROSPECTUS DATED OCTOBER 21, 1994
                              FOR USE IN WISCONSIN
 
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     Prospective Wisconsin investors should note that the Fund may invest up to
10% of its assets in restricted securities. It is the opinion of the Wisconsin
Securities Commissioner that investment in restricted securities in excess of 5%
of the Fund's total assets may be considered a speculative activity and may
involve greater risk and may increase the Fund's expenses.
 
Code #10559WI



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