MERRILL LYNCH GLOBAL UTILITY FUND, INC.
                        SUPPLEMENT DATED MARCH 28, 1995
                     TO THE PROSPECTUS DATED MARCH 28, 1995
                          FOR USE IN THE STATE OF OHIO
 
    NOTWITHSTANDING THE FACT THAT THE BOARD MAY DETERMINE THAT A RULE 144A
SECURITY IS LIQUID AND NOT SUBJECT TO THE 15% RESTRICTION ON ILLIQUID
SECURITIES, THE STATE OF OHIO DOES NOT RECOGNIZE RULE 144A SECURITIES AS
SECURITIES WHICH ARE FREE OF RESTRICTIONS AS TO RESALE. CONSEQUENTLY, TO THE
EXTENT REQUIRED BY OHIO LAW, THE FUND WILL NOT INVEST MORE THAN 50% OF ITS TOTAL
ASSETS IN SECURITIES OF ISSUERS WHICH ARE RESTRICTED AS TO DISPOSITION,
INCLUDING RULE 144A SECURITIES, OR IN SECURITIES OF ISSUERS HAVING A RECORD,
TOGETHER WITH PREDECESSORS, OF LESS THAN THREE YEARS OF CONTINUOUS OPERATION.
 
CODE #11281-0395OH