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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000905148-06-005579.txt : 20060831
<SEC-HEADER>0000905148-06-005579.hdr.sgml : 20060831
<ACCEPTANCE-DATETIME>20060831171448
ACCESSION NUMBER:		0000905148-06-005579
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060815
FILED AS OF DATE:		20060831
DATE AS OF CHANGE:		20060831
EFFECTIVENESS DATE:		20060831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEBT STRATEGIES FUND
		CENTRAL INDEX KEY:			0001051003
		IRS NUMBER:				223564108
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-08603
		FILM NUMBER:		061069276

	BUSINESS ADDRESS:	
		STREET 1:		MERRILL LYNCH ASSET MANAGEMENT
		STREET 2:		PO BOX 9011
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011
		BUSINESS PHONE:		6092823087

	MAIL ADDRESS:	
		STREET 1:		MERRILL LYNCH ASSET MANAGEMENT
		STREET 2:		PO BOX 9011 INFORMATION SYSTEMS SEC 2-B,
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND II INC
		DATE OF NAME CHANGE:	19971208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PREFERRED INCOME STRATEGIES FUND INC
		CENTRAL INDEX KEY:			0001215664
		IRS NUMBER:				371461533
		STATE OF INCORPORATION:			MD

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21286
		FILM NUMBER:		061069277

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL ROAD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536
		BUSINESS PHONE:		6092822116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREFERRED INCOME FUND INC
		DATE OF NAME CHANGE:	20030123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SENIOR HIGH INCOME PORTFOLIO INC
		CENTRAL INDEX KEY:			0000896665
		IRS NUMBER:				223226962
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-07456
		FILM NUMBER:		061069278

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536
		BUSINESS PHONE:		6092822800

	MAIL ADDRESS:	
		STREET 1:		PO BOX 9011
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>efc6-2258_def14a.txt
<TEXT>

     Important Merrill Lynch Proxy Materials Requiring Immediate Attention
                          Debt Strategies Fund, Inc.
                      Senior High Income Portfolio, Inc.
                    Preferred Income Strategies Fund, Inc.

Dear Shareholders:

You have previously received proxy material dated June 15, 2006 with respect
to shareholder meetings to be held on August 15, 2006. Please note the
following additions:

Addition to page 11, under the caption "Comparison of Current Investment
Advisory Agreements to the New Investment Advisory Agreements--Fees" and page
H-3 under the caption "Fees"

Debt Strategies Fund, Inc., Senior High Income Portfolio, Inc. and Preferred
Income Strategies Fund, Inc. should be added to the list of Funds which pay an
advisory fee based on the fund's net assets plus the proceeds of any borrowings
or debt for leverage purposes.

If you have not already done so, please review and vote your proxy today!

By Touch-tone:  Please refer to the "800" number printed on your voting
instruction form.

By Internet: Visit www.proxyvote.com. Once there, enter the 12-digit control
number located on your proxy card.

By Mail:  Simply return your executed proxy card in the envelope provided.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
