MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
Supplement dated July 16, 1998 to the
Prospectus dated February 12, 1998
The section entitled "Performance Data" is revised by deleting the
last paragraph and adding the following:
On occasion, the Fund may compare its performance to the Standard &
Poor's 500 Index, the Dow Jones Industrial Average, other market indices,
or performance data published by Lipper Analytical Services, Inc.,
Morningstar Publications, Inc., Money Magazine, U.S. News & World Report,
Business Week, CDA Investment Technologies, Inc., Forbes Magazine, Fortune
Magazine or other industry publications. When comparing its performance
to a market index and/or other comparison reference, the Fund may refer
to various statistical measures derived from the historic performance of
the Fund, the index and/or other comparison reference such as standard
deviation, volatility and beta. In addition, from time to time the Fund
may include the Fund's risk adjusted performance ratings assigned by
Morningstar Publications, Inc. in advertising or supplemental sales
literature. As with other performance data, performance comparisons
should not be considered indicative of the Fund's relative performance
for any future period.
Code #10810-0298ALL
