MERRILL LYNCH INTERNATIONAL EQUITY FUND, 497, 1997-02-20

MERRILL LYNCH INTERNATIONAL EQUITY FUND
497, 1997-02-20

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                   Merrill Lynch International Equity Fund

                  Supplement dated February 20, 1997 to the
                     Prospectus dated September 26, 1996

     Andrew John Bascand is the portfolio manager of the Merrill Lynch
International Equity Fund (the "Fund") and will be responsible for all
aspects of the day-to-day portfolio management of the Fund.  Mr. Bascand was
previously the Fund's asset allocator and co-portfolio manager.  Decisions
concerning security selection, as well as asset allocation, will be
centralized in London.

Code #16747-0996ALL