MERRILL LYNCH NEW MEXICO MUNICIPAL BD FD OF MLMSMST, 497, 1997-10-09

MERRILL LYNCH NEW MEXICO MUNICIPAL BD FD OF MLMSMST
497, 1997-10-09
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                MERRILL LYNCH NEW MEXICO MUNICIPAL BOND FUND
               MERRILL LYNCH MULTI-STATE MUNICIPAL SERIES TRUST

           SUPPLEMENT DATED OCTOBER 9, 1997 TO THE PROSPECTUS AND 
      STATEMENT OF ADDITIONAL INFORMATION, EACH DATED NOVEMBER 15, 1996


     The  discussion  of  systematic  withdrawal  plans  under   "Shareholder
Services" is modified by deleting the references  to Class A shares and Class
D  shares.   Effective immediately,  shares of all  classes are  eligible for
inclusion in such plans.  However, in the case of Class B and Class C shares,
the maximum value  of shares that  can be redeemed  from an account  annually
shall not  exceed 10% of the value of shares of such class in that account at
the  time the election to join  the systematic withdrawal plan  was made.  No
otherwise  applicable CDSC  will be  charged  on redemption  of such  shares.
Class B and Class C shares redeemed through a systematic withdrawal plan will
be redeemed in  the same order  as Class B and  Class C shares  are otherwise
redeemed.    See  "Purchase of  Shares--Deferred  Sales  Charge Alternative--
Class B  and  Class  C  Shares--Contingent  Deferred  Sales  Charges--Class B
Shares" and  "--Contingent  Deferred Sales  Charges--Class C  Shares" in  the
Prospectus.   Where the  systematic withdrawal  plan  is applied  to Class  B
shares, upon conversion of the last Class B shares in  the account to Class D
shares,   the  systematic  withdrawal  plan  will  automatically  be  applied
thereafter to Class D shares.  See "Purchase of Shares--Deferred Sales Charge
Alternative--Class  B and  Class C  Shares--Conversion of  Class B  Shares to
Class D Shares."

     For redemptions through the  CMA(Registered Trademark) or CBA(Registered
Trademark) Systematic Redemption Program, a shareholder may elect to have his
or her  shares redeemed on the first, second, third  or fourth Monday of each
month, in the case  of monthly redemptions, or  of every other month, in  the
case  of  bimonthly  redemptions.     For  quarterly,  semiannual  or  annual
redemptions, the shareholder may select the month  in which the shares are to
be redeemed  and may designate  whether the redemption is  to be made  on the
first, second, third or fourth Monday of the month.


Code #18034-1196ALL
     #18036-1196ALL