MERRILL LYNCH ASSET BUILDER PROGRAM, INC.
SUPPLEMENT DATED JUNE 17, 1997 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 23, 1997
The name and biography of the portfolio manager for Fundamental Value
Portfolio, which is listed under "Management of the Program -- Directors and
Officers," is revised by deleting the paragraph relating to Kevin M. Rendino
and adding the following:
Geraldine Gunn (39) - Portfolio Manager (1) - Vice President of the
Investment Adviser since 1989; Securities Analyst for Basic Value Fund
since 1984.
Code #18472 - 0596