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                 MERRILL LYNCH ARKANSAS MUNICIPAL BOND FUND OF
                MERRILL LYNCH MULTI-STATE MUNICIPAL SERIES TRUST
 
                     SUPPLEMENT DATED FEBRUARY 10, 1995 TO
                       PROSPECTUS DATED FEBRUARY 10, 1995
 
                        FOR USE IN THE STATE OF MISSOURI
 
  The Fund is authorized to invest up to 20% of its total assets in lower rated
Municipal Bonds, commonly known as "junk bonds." Investments of this type are
subject to greater risk of loss of principal and interest than are higher rated
bonds. For additional information about lower rated Municipal Bonds, see page 8
of the Prospectus.
 
Code #18321-0295MO



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