Exhibit 1(e)

                              MUNIYIELD FUND, INC.
                         Articles Supplementary creating

                five series of Auction Market Preferred Stock (R)

         MUNIYIELD FUND, INC., a Maryland corporation having its principal
Maryland office in the City of Baltimore (the "Corporation"), certifies to the
Maryland State Department of Assessments and Taxation that:

         FIRST: Pursuant to authority expressly vested in the Board of Directors
of the Corporation by Article FIFTH of its Charter, the Board of Directors has
reclassified 5,000 authorized and unissued shares of common stock of the
Corporation as additional preferred stock of the Corporation and has authorized
the issuance of preferred stock, par value $.10 per share, liquidation
preference $50,000 per share plus an amount equal to accumulated but unpaid
dividends (whether or not earned or declared) thereon, to be designated Auction
Market Preferred Stock.

         SECOND: The preferences, voting powers, restrictions, limitations as to
dividends, qualifications, and terms and conditions of redemption, of the shares
of such preferred stock shall be identical to the 5,000 shares of Auction Market
Preferred Stock previously reclassified and authorized by the Board of Directors
pursuant to Articles Supplementary dated December 19, 1991 and filed on December
20, 1991 with the Maryland State Department of Assessments and Taxation, as
amended by Articles of Amendment to Articles Supplementary filed on November 13,
1992. Accordingly, these Articles Supplementary hereby incorporate by reference
such previously filed Articles Supplementary beginning with the section entitled
"DESIGNATION"

--------------------------
(R) Registered trademark of Merrill Lynch & Co., Inc.





and continuing until the end of the final section entitled "Securities
Depository; Stock Certificates," with the following exception:

         At page 2, in the section entitled "DESIGNATION," strike out "a date to
be determined by the Board of Directors of the Corporation" and insert in lieu
thereof the date " Dec. 1, 1994";

         IN WITNESS WHEREOF, MUNIYIELD FUND, INC. has caused these presents to
be signed in its name and on its behalf by a duly authorized officer, and
attested by its Secretary, and the said officers of the Corporation further
acknowledge said instrument to be the corporate act of the Corporation, and
state under the penalties of perjury that to the best of their knowledge,
information and belief the matters and facts herein set forth with respect to
approval are true in all material respects, all on Nov. 30, 1994.

                                             MUNIYIELD FUND, INC.


                                             By /s/ Vincent R. Giordano
                                                ----------------------------
                                                Name: Vincent R. Giordano
                                                Title: Senior Vice President


Attest:

/s/ Mark B. Goldfus
---------------------
Name: Mark B. Goldfus
Its: Secretary