MERRILL LYNCH RETIREMENT ASSET BUILDER PROGRAM INC
497, 1997-06-17
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                  MERRILL LYNCH ASSET BUILDER PROGRAM, INC.

                    SUPPLEMENT DATED JUNE 17, 1997 TO THE
                        PROSPECTUS DATED MAY 23, 1997

     Geraldine Gunn has joined the Program as Portfolio Manager for the
Fundamental Value Portfolio replacing Mr. Rendino.  She is responsible for
the day-to-day management of Fundamental Value Portfolio's investment
portfolio.  She has been a Vice President of the Investment Adviser since
1989, and a Securities Analyst for Basic Value Fund since 1984.

Code   #18471 - 0596



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