MERRILL LYNCH DEVELOPING CAPITAL MARKETS FUND INC
NSAR-A, 1999-02-25
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<PAGE>      PAGE  1
000 A000000 12/31/98
000 C000000 0000849402
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
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000 I000000 3.0.a
000 J000000 A
001 A000000 ML DEVELOPING CAPITAL MARKETS FUND, INC.
001 B000000 811-5723
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
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008 B000002 S
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008 D010002 LONDON
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<PAGE>      PAGE  2
011 C040001 9011
012 A000001 FINANCIAL DATA SERVICES, INC.
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012 C040001 6484
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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SIGNATURE   GERALD M. RICHARD                            
TITLE       TREASURER           
 


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<CIK> 0000849402
<NAME> MERRILL LYNCH DEVELOPING CAPITAL MARKETS FUND, INC.
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<TABLE> <S> <C>

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