497 1 efc1-0853_857184form497.txt SUPPLEMENT DATED AUGUST 30, 2001 SUPPLEMENT DATED AUGUST 31, 2001 TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION FOR
The Asset Program, Inc. Merrill Lynch Mid Cap Value Fund Merrill Lynch Latin America Fund, Inc. Merrill Lynch Balanced Capital Fund, Inc. Merrill Lynch Mid Cap Growth Fund, Inc. Merrill Lynch Basic Value Fund, Inc. Merrill Lynch Multi-State Limited Maturity Merrill Lynch Bond Fund, Inc. Municipal Series Trust High Income Portfolio Merrill Lynch Florida Limited Maturity Core Bond Portfolio Municipal Bond Fund Intermediate Term Portfolio Merrill Lynch Multi-State Municipal Series Trust Merrill Lynch California Municipal Series Trust Merrill Lynch Arizona Municipal Bond Fund Merrill Lynch California Insured Municipal Merrill Lynch Connecticut Municipal Bond Bond Fund Fund Merrill Lynch Developing Capital Markets Fund, Merrill Lynch Florida Municipal Bond Fund Inc. Merrill Lynch Maryland Municipal Bond Fund Merrill Lynch Dragon Fund, Inc. Merrill Lynch Massachusetts Municipal Bond Merrill Lynch Emerging Markets Debt Fund, Inc. Fund Merrill Lynch Equity Income Fund Merrill Lynch Michigan Municipal Bond Fund Merrill Lynch EuroFund Merrill Lynch Minnesota Municipal Bond Fund Merrill Lynch Focus Twenty Fund, Inc. Merrill Lynch New Jersey Municipal Bond Fund Merrill Lynch Focus Value Fund, Inc. Merrill Lynch New York Municipal Bond Fund Merrill Lynch Fundamental Growth Fund, Inc. Merrill Lynch North Carolina Municipal Bond Merrill Lynch Global Allocation Fund, Inc. Fund Merrill Lynch Global Bond Fund For Investment Merrill Lynch Ohio Municipal Bond Fund and Retirement Merrill Lynch Oregon Municipal Bond Fund Merrill Lynch Global Financial Services Fund, Merrill Lynch Pennsylvania Municipal Bond Inc. Fund Merrill Lynch Global Growth Fund, Inc. Merrill Lynch Texas Municipal Bond Fund Merrill Lynch Global SmallCap Fund, Inc. Merrill Lynch Municipal Bond Fund, Inc. Merrill Lynch Global Technology Fund, Inc. Insured Portfolio Merrill Lynch Global Value Fund, Inc. Limited Maturity Portfolio Merrill Lynch Growth Fund National Portfolio Merrill Lynch International Equity Fund Merrill Lynch Municipal Series Trust Merrill Lynch Internet Strategies Fund, Inc. Merrill Lynch Municipal Intermediate Term Merrill Lynch Large Cap Series Funds, Inc. Fund Merrill Lynch Large Cap Core Fund Merrill Lynch Natural Resources Trust Merrill Lynch Large Cap Growth Fund Merrill Lynch Pacific Fund, Inc. Merrill Lynch Large Cap Value Fund Merrill Lynch Premier Growth Fund, Inc. Merrill Lynch Short-Term Global Income Fund, Inc. Merrill Lynch Small Cap Value Fund, Inc. Merrill Lynch U.S. Government Mortgage Fund Merrill Lynch Utilities and Telecommunications Fund, Inc. Merrill Lynch World Income Fund, Inc.
The transfer agency fee schedule has been amended for each Fund listed above. The revised schedule of fees payable to Financial Data Services, Inc., the transfer agent for each of the Funds, ranges from $16 to $23 per shareholder account (depending upon the level of service required) or 0.10% of account assets for certain accounts that participate in certain fee-based programs. In addition, the transfer agent is reimbursed for reasonable out-of-pocket expenses. Certain fees previously in effect, including transaction charges and closed account fees, have been eliminated. The revised fee schedule amends information provided in each Fund's Prospectus under the heading "Fees and Expenses" and in the Statement of Additional Information under the heading "Management and Advisory Arrangements." CODE: TAFEES0801-ALL 2