<PAGE>
 
                    MERRILL LYNCH GLOBAL UTILITY FUND, INC.
 
                        SUPPLEMENT DATED MARCH 29, 1994
                       TO PROSPECTUS DATED MARCH 29, 1994
 
                              FOR USE IN WISCONSIN
 
  PROSPECTIVE WISCONSIN INVESTORS SHOULD NOTE THAT THE FUND MAY INVEST UP TO
10% OF ITS TOTAL ASSETS IN RESTRICTED SECURITIES. IT IS THE OPINION OF THE
WISCONSIN SECURITIES COMMISSION 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 FUND EXPENSES.
 
Code# 11281 WI



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission