MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
Supplement dated January 26, 2000
to Prospectus dated April 1, 1999
On January 20, 2000, the Board of Directors of Merrill Lynch Middle
East/Africa Fund, Inc. (the "Fund") approved an Agreement and Plan of
Reorganization between the Fund and Merrill Lynch Developing Capital Markets
Fund, Inc. ("Developing Capital Markets") pursuant to which Developing Capital
Markets would acquire substantially all of the Fund's assets and assume
substantially all of the Fund's liabilities in exchange for newly issued
shares of Developing Capital Markets, and thereafter the Fund will deregister
as an investment company under the Investment Company Act of 1940, as amended,
and dissolve in accordance with the laws of the State of Maryland (the
"Reorganization").
The Reorganization is conditioned upon approval by the Fund's
stockholders. A special meeting of the stockholders of the Fund to consider
the Reorganization has been called for April 26, 2000. The record date for
determining the stockholders entitled to receive notice of and to vote at the
special meeting is March 15, 2000. If all of the requisite approvals are
obtained, it is anticipated that the Reorganization will take place in the
second calendar quarter of 2000.
If the Reorganization takes place, Fund stockholders will receive
shares of that class of Developing Capital Markets having the same letter
designation (i.e., Class A, Class B, Class C or Class D) and the same
distribution fees, account maintenance fees, and sales charges (including
contingent deferred sales charges), if any, as the shares of the Fund held by
them immediately prior to the Reorganization.
Code #18415-03-99ALL
