MERRILL LYNCH AMERICAS INCOME FUND, INC.
Supplement dated May 8, 2000 to the Prospectus and Statement of Additional
Information, each dated March 30, 2000
On April 26, 2000, the Board of Directors of Merrill Lynch Americas
Income Fund, Inc. ("the Fund") approved a proposed amendment to the investment
objective and policies of the Fund and called a meeting of the stockholders of
the Fund to be held July 10, 2000 to consider the amendments. The record date
for determining the stockholders entitled to receive notice of and to vote at
the meeting is May 12, 2000. If the stockholders approve the proposed
amendments, the Fund will change its name to Merrill Lynch Emerging Markets
Debt Fund, Inc.
The proposed investment objective of the Fund will be to provide high
current income with a secondary objective of capital appreciation. Under
normal market conditions, the Fund will invest at least 65% of its total
assets in debt obligations of issuers in emerging market countries. Debt
obligations include fixed or floating rate bonds, notes, debentures,
commercial paper, corporate loans, Brady Bonds, and other debt securities
issued or guaranteed by governments, agencies, or instrumentalities, central
banks, commercial banks or private issuers, including repurchase agreements.
Debt obligations also include convertible securities, which have
characteristics of both debt and equity investments. There will be no maturity
restrictions on the securities in which the Fund will invest. Its weighted
average maturity normally will range between five and ten years, but may vary
substantially because of market conditions. Under normal circumstances, 65% of
the Fund's total assets are expected to be denominated in U.S. dollars. The
Fund will not usually attempt to cushion the impact of foreign currency
fluctuations on the dollar. Under its amended policies, the Fund will be
permitted to invest up to 40% of its assets in issuers domiciled in any one
country.
The Board of Directors of the Fund also approved an Agreement and Plan of
Reorganization between the Fund and Worldwide DollarVest Fund, Inc.
("Worldwide DollarVest"), a closed-end investment company, pursuant to which,
in substance, the Fund will acquire substantially all of the assets and assume
substantially all of the liabilities of Worldwide DollarVest in exchange for
newly issued Class A shares of the Fund (the "Reorganization").
The Reorganization is conditioned upon approval by the Fund's
stockholders of the amendments to the investment objective and policies of the
Fund described above and upon approval of the Reorganization by the
stockholders of Worldwide DollarVest. The annual meeting of the stockholders
of Worldwide DollarVest at which stockholders will consider the
Reorganization, has been called for August 23, 2000. Stockholders of the Fund
are not required to vote on the Reorganization.
Code # 16802-03-00ALL
Code #16800-03-00ALL
