-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000065103-98-000067.txt : 19980205
<SEC-HEADER>0000065103-98-000067.hdr.sgml : 19980205
ACCESSION NUMBER:		0000065103-98-000067
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980204
SROS:			NYSE
GROUP MEMBERS:		MERRILL LYNCH & CO INC
GROUP MEMBERS:		MERRILL LYNCH ASSET MANAGEMENT, L.P.
GROUP MEMBERS:		PRINCETON SERVICES, INC.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRENCH BANK OF THE RIO DE LA PLATA
		CENTRAL INDEX KEY:			0000913059
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-49407
		FILM NUMBER:		98521261

	BUSINESS ADDRESS:	
		STREET 1:		RECONQUISTA 199
		CITY:			1003 BUENOS AIRES AR
		STATE:			C1
		BUSINESS PHONE:		2127595576

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH & CO INC
		CENTRAL INDEX KEY:			0000065100
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				132740599
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		250 VESEY ST
		STREET 2:		WORLD FINANCIAL CTR N TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281-1334
		BUSINESS PHONE:		2124491000

	MAIL ADDRESS:	
		STREET 1:		250 VESEY ST
		STREET 2:		WORLD FINANCIAL CTR N TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281-1334
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<TEXT>

OMB APPROVAL
EXPIRES:  October 31, 1994
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE   14.90


UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1 )*

Banco Frances Del Rio Plata
- -------------------------------------------------------------------
(Name of Issuer)


Ordinary Shares **
- -------------------------------------------------------------------
(Title of Class of Securities)


05959110
- --------------
(CUSIP NUMBER)

Check the following box if a fee is being paid with this statement.[ ]  (A
fee is not required only if the filing person: (1) has a previous statement 
on file reporting beneficial ownership of more than five percent of the 
class of securities described in Item 1; and (2) has filed no amendment 
subsequent thereto reporting beneficial ownership of five percent or less 
of such class.)  (See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of 
securities, and for any subsequent amendment containing information which 
would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be 
deemed to be "filed" for the purpose of Section 18 of the Securities 
Exchange Act of 1934 (the "1934 Act") or otherwise subject to the liabilities 
of that section of the Act but shall be subject to all other provisions of the 
Act (however, see the Notes).

** Each of the ordinary shares set forth on Item 9 of the cover sheets are
beneficially held through ADRs (CUSIP 05959110).  In the aggregate as of
December 31, 1997, Princeton Services, Inc. may be deemed to beneficially own
1,267,024 ADRs.

<PAGE>

Page 2 of 7 Pages


CUSIP NO.  05959110               13G

1. NAME OF REPORTING PERSON
   S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Princeton Services, Inc.

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing

(a) [ ]
(b) [ ]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION
     
Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5. SOLE VOTING POWER

NONE

6. SHARED VOTING POWER

3,801,072

7. SOLE DISPOSITIVE POWER

NONE

8. SHARED DISPOSITIVE POWER

3,801,072

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,801,072 (ownership disclaimed pursuant to Section 13d-4 of the 1934 Act)

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

2.2%

12. TYPE OF REPORTING PERSON*

HC, CO

    *SEE INSTRUCTION BEFORE FILING OUT!


<PAGE>

Page 3 of 7 Pages


CUSIP NO.  05959110                13G

1. NAME OF REPORTING PERSON
   S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Merrill Lynch Asset Management, L.P.

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* Joint Filing 

(a) [ ]
(b) [ ]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5. SOLE VOTING POWER

NONE

6. SHARED VOTING POWER

3,801,072

7. SOLE DISPOSITIVE POWER

NONE

8. SHARED DISPOSITIVE POWER

3,801,072

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,801,072

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

2.2%

12. TYPE OF REPORTING PERSON*

IA, PN

    *SEE INSTRUCTION BEFORE FILING OUT!

<PAGE>

Page 4 of 7 Pages

		    SCHEDULE 13G


ITEM 1 (a)  Name of Issuer:
	    --------------

	    Banco Frances Del Rio Plata (the "Company")

 
ITEM 1 (b)  Address of Issuer's Principal Executive Offices:
	    -----------------------------------------------

	    Reconquista 199
	    1003 Buenos Aires
	    Argentina

ITEM 2 (a)  Name of Persons Filing:
	    ---------------------

	    Princeton Services, Inc.
	    Merrill Lynch Asset Management, L.P.
	    
ITEM 2 (b)  Address of Principal Business Office or, if none, Residence:
	    -----------------------------------------------------------
		

Princeton Services, Inc.
800 Scudders Mill Road
Plainsboro, New Jersey  08536

Merrill Lynch Asset Management, L.P.
800 Scudders Mill Road
Plainsboro, New Jersey  08536


ITEM 2 (c)  Citizenship:
	    -----------
See Item 4 of Cover Pages

ITEM 2 (d)  Title of Class of Securities:
	    ----------------------------

Common Stock

ITEM 2 (e)  CUSIP NUMBER:
		
See Cover Page





<PAGE>

Page 5 of 7 Pages


ITEM 3          
   
    Princeton Services, Inc. ("PSI") is a parent holding company in 
accordance with (S) 240.13d-1(b)(ii)(G) of the 1934 Act.  Merrill Lynch
Asset Management, L.P. (d/b/a) Merrill Lynch Asset Management ("MLAM")
is an investment adviser registered under (S) 203 of the Investment Advisers
Act of 1940 (the "Advisers Act").



ITEM 4  Ownership
	--------- 
(a)  Amount Beneficially Owned:
	     
   See Item 9 of Cover Pages.

(b)  Percent of Class:

     See Item 11 of Cover Pages

(c)  Number of shares as to which such person has:

     (i)  sole power to vote or to direct the vote:
		 
	  See Item 5 of Cover Pages
		 
    (ii)  shared power to vote or to direct the vote:

	  See Item 6 of the Cover Pages

   (iii)  sole power to dispose of or to direct the disposition of:
			    
	  See Item 7 of Cover Pages

    (iv)  shared power to dispose of or direct the disposition of:

	  See Item 8 of Cover Pages
			


ITEM 5  Ownership of Five Percent or Less of a Class.
	--------------------------------------------

If this statement is being filed to report the fact that the reporting
person has ceased to be the beneficial owner of more than 5% of the class
of securities reported herein, check the following  [X].






<PAGE>

Page 6 of 7 Pages


ITEM 6  Ownership of More than Five Percent on Behalf of Another Person.
	---------------------------------------------------------------

Not applicable.


ITEM 7   Identification and Classification of the Subsidiary Which 
	 ---------------------------------------------------------
  Acquired the Security Being Reported on by the Parent Holding Company.
  ---------------------------------------------------------------------

   PSI is a corporate managing general partner of Merrill Lynch Asset
Management, L.P., which is a registered investment adviser under Section 203
of the Advisers Act.


ITEM 8   Identification and Classification of Members of the Group.
	 ----------------------------------------------------------

Not Applicable



ITEM 9  Notice of Dissolution of Group.
	------------------------------

Not Applicable


ITEM 10  Certification
	 -------------

    By signing below each of the undersigned certifies that, to the best of
their knowledge and belief, the securities referred to above were acquired 
and are held in the ordinary course of business and were not acquired and 
are not held for the purpose of and do not have the effect of changing or 
influencing the control of the issuer of such securities and were not acquired
and are not held in connection with or as a participant in any transaction 
having such purpose or effect.













<PAGE>

Page 7 of 7 Pages


Signature.
- ---------

    After reasonable inquiry and to the best of my knowledge and belief, each 
of the undersigned certifies that the information set forth in this statement
is true, complete and correct.


Date:  January 29, 1998



Princeton Services, Inc.  

/s/ Ira P. Shapiro
- -----------------------------
Name:  Ira P. Shapiro
Title:  Attorney-In-Fact*


Merrill Lynch Asset Management, L.P.
By: Princeton Services, Inc. (General Partner)

/s/ Ira P. Shapiro
- -------------------------
Name:  Ira P. Shapiro
Title Attorney-In-Fact**


- ------------------------------------
* Signed pursuant to a power of attorney, dated January 26, 1998, included
as an exhibit to Schedule 13G filed with the Securities and Exchange
Commission by Princeton Services, Inc., on February 14, 1998 with respect
to LTX Corporation.

** Signed pursuant to a power of attorney, dated January 26, 1998, included
as an exhibit to Schedule 13G filed with the Securities and Exchange
Commission by Princeton Services, Inc., on February 14, 1998 with respect
to Lattice SemiConductor Corp.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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