MERRILL LYNCH GLOBAL UTILITY FUND, INC.                 
 MERRILL LYNCH GLOBAL UTILITY FUND, INC. 
 
                 Supplement dated February 5, 1996 to the                 
Supplement dated February 5, 1996 to the 
                      Prospectus dated March 28, 1995                      
Prospectus dated March 28, 1995 
 
The disclosure set forth under "Purchase of Shares -- Initial Sales Charge 
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Alternatives-Class A and Class D Shares -- Reduced Initial Sales Charges"
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is modified as follows: 
 
     Class D shares of the Fund are offered at net asset value to 
shareholders of Merrill Lynch Municipal Strategy Fund, Inc. ("Municipal 
Strategy Fund") and Merrill Lynch High Income Municipal Bond Fund, Inc. 
("High Income Fund") who wish to purchase shares of the Fund with the net 
proceeds from a sale of certain of their shares of common stock pursuant 
to a tender offer by Municipal Strategy Fund or High Income Fund.  This 
investment option is available only with respect to the proceeds of 
Municipal Strategy Fund shares as to which no CDSC (as defined in the 
Municipal Strategy Fund prospectus) is applicable, or with respect to the 
proceeds of High Income Fund shares as to which no Early Withdrawal Charge 
(as defined in the High Income Fund prospectus) is applicable.  Such Class 
D shares are offered subject to the conditions applicable to the offering 
of Class A shares of the Fund to shareholders of Merrill Lynch Senior 
Floating Rate Fund, Inc. ("Senior Floating Rate Fund") who wish to 
purchase shares of the Fund with the net proceeds from a sale of certain 
of their shares of common stock pursuant to a tender offer by Senior 
Floating Rate Fund, as described in the Statement of Additional 
Information under "Purchase of Shares -- Initial Sales Charge              
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Alternatives-Class A and Class D Shares -- Closed-End Fund Investment 
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Option". _______ 
 
Code #11281-0395 
 
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