MERRILL LYNCH GLOBAL CONVERTIBLE FUND, INC.
P.O. BOX 9011
PRINCETON, NEW JERSEY 08543-9011
TO THE STOCKHOLDERS OF MERRILL LYNCH
GLOBAL CONVERTIBLE FUND, INC.
Attached for your information is a copy of the prospectus of Merrill Lynch
Global Convertible Fund, Inc. (the "Fund") dated February 18, 1998. Please
note that, as discussed in the attached prospectus, the Fund is the subject
of a pending proposal for reorganization. Under this proposal, substantially
all of the Fund's assets and liabilities would be assumed by Merrill Lynch
Convertible Fund, Inc. ("Convertible Fund") in exchange solely for an equal
aggregate value of newly-issued shares of Convertible Fund (the
"Reorganization"). Convertible Fund is a registered, open-end investment
company with investment objectives and policies that are similar to those of
the Fund.
Stockholders of the Fund of record on December 19, 1997 are currently
scheduled to vote to approve or disapprove the Agreement and Plan of
Reorganization at the meeting of stockholders that has been adjourned to
March 11, 1998. If you were a stockholder of record on December 19, 1997 you
would have received at the beginning of January 1998 proxy materials
detailing the Reorganization and requesting you to vote to approve or
disapprove the Agreement and Plan of Reorganization. If the Reorganization
is approved at that time, Convertible Fund will acquire substantially all of
the assets and assume substantially all of the liabilities of the Fund on
April 6, 1998. At the time of the Reorganization, holders of Class A, Class
B, Class C, and Class D shares of the Fund will receive shares of the same
class of Convertible Fund based upon the net asset value of each Fund at the
close of business on April 3, 1998. You will receive a notice confirming
whether the Reorganization has occurred after the proposed Reorganization
date.
