MERRILL LYNCH LATIN AMERICA FUND INC, 497, 1994-10-21

MERRILL LYNCH LATIN AMERICA FUND INC
497, 1994-10-21

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<PAGE>   1
 
                     MERRILL LYNCH LATIN AMERICA FUND, INC.
 
                       SUPPLEMENT DATED OCTOBER 21, 1994,
                    TO THE PROSPECTUS DATED OCTOBER 21, 1994
 
                                FOR USE IN OHIO
 
     This Prospectus must be delivered to the investor prior to the consummation
of sale.
 
     Investment in the Fund may involve a higher degree of risk than investment
in more traditional diversified investment companies because the Fund may, as to
50% of its assets, purchase more than 10% of the voting securities of any one
issuer.
 
Code # 13989-OH
<PAGE>   2
 
                     MERRILL LYNCH LATIN AMERICA FUND, INC.
 
                       SUPPLEMENT DATED OCTOBER 21, 1994,
                      TO PROSPECTUS DATED OCTOBER 21, 1994
 
                       FOR USE IN THE STATE OF WASHINGTON
 
     The Fund may invest significantly in lower rated bonds (or unrated bonds
with similar credit characteristics), commonly known as "junk bonds".
Investments of this type are subject to greater risk of loss of principal and
interest than are investments in higher rated bonds. Purchasers should carefully
assess the risks associated with an investment in this Fund.
 
Code # 13989-WA