<PAGE>
CMA TREASURY FUND
August 2, 1994
VIA ELECTRONIC FILING
- ---------------------
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Attention: Division of Investment Management
Re: CMA Treasury Fund
Post-Effective Amendment No. 4 to the
Registration Statement on Form N-1A
(Securities Act File No. 33-37439;
Investment Company Act File No. 811-6196)
-----------------------------------------
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended (the
"1933 Act"), CMA Treasury Fund (the "Fund") hereby certifies that:
(1) the forms of prospectus and statement of additional information that
would have been filed pursuant to Rule 497(c) under the 1933 Act would
not have differed from that contained in Post-Effective Amendment No.
4 to the Fund's Registration Statement on Form N-1A, constituting the
most recent amendment to the Fund's Registration Statement on Form N-
1A under the 1933 Act; and
<PAGE>
(2) the text of Post-Effective Amendment No. 4 to the Fund's Registration
Statement on Form N-1A was filed electronically with the Securities
and Exchange Commission on July 29, 1994.
Very truly yours,
CMA TREASURY FUND
By: /s/ ROBERT HARRIS
-----------------
Robert Harris
Secretary
2