<DOCUMENT>
<TYPE>EX-99.2(A)(7)
<SEQUENCE>8
<FILENAME>efc4-1273_ex992a7.txt
<TEXT>

                                                                Exhibit (a)(7)


                              MUNIVEST FUND, INC.

           Articles of Amendment to Articles Supplementary creating
                        Auction Market Preferred Stock

         MUNIVEST 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: The Articles Supplementary, filed on December 7, 1988,
creating 2,750 shares of Auction Market Preferred Stock ("AMPS(R)") of the
Corporation and the Articles Supplementary filed on December 1, 1994 creating
8,500 shares of AMPS (the "Articles Supplementary"), are hereby amended by
these Articles of Amendment as follows:

         In each of the Articles Supplementary, paragraph (c) of section 5
entitled "Right to Vote with Respect to Certain Other Matters" is deleted in
its entirety and replaced with the following:

                  (c) Right to Vote with Respect to Certain Other Matters. So
         long as any shares of AMPS are outstanding, the Corporation shall
         not, without the affirmative vote of the holders of a majority of the
         shares of the Preferred Stock Outstanding at the time, voting
         separately as one class: (i) authorize, create or issue any class or
         series of stock ranking prior to the AMPS or any other series of
         Preferred Stock with respect to payment of dividends or the
         distribution of assets on liquidation, or (ii) amend, alter or repeal
         the provisions of the Charter, whether by merger, consolidation or
         otherwise, so as to adversely affect any of the contract rights
         expressly set forth in the Charter of holders of shares of AMPS or
         any other Preferred Stock. To the extent permitted under the 1940
         Act, in the event shares of more than one series of AMPS are
         outstanding, the Corporation shall not approve any of the actions set
         forth in clause (i) or (ii) which adversely affects the contract
         rights expressly set forth in the Charter of a Holder of shares of a
         series of AMPS differently than those of a Holder of shares of any
         other series of AMPS without the affirmative vote of the holders of
         at least a majority of the shares of AMPS of each series adversely
         affected and outstanding at such time (each such adversely affected
         series voting separately as a class). The


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




<PAGE>



         Corporation shall notify Moody's and S&P ten Business Days prior to
         any such vote described in clause (i) or (ii). Unless a higher
         percentage is provided for under the Charter, the affirmative vote
         of the holders of a majority of the outstanding shares of Preferred
         Stock, including AMPS, voting together as a single class, will be
         required to approve any plan of reorganization (including bankruptcy
         proceedings) adversely affecting such shares or any action requiring
         a vote of security holders under Section 13(a) of the 1940 Act. The
         class vote of holders of shares of Preferred Stock, including AMPS,
         described above will in each case be in addition to a separate vote
         of the requisite percentage of shares of Common Stock and shares of
         Preferred Stock, including AMPS, voting together as a single class
         necessary to authorize the action in question.


         SECOND: The foregoing amendment to the Articles Supplementary has
been effected in the manner and by the vote required by the charter of the
Corporation (the "Charter") and the laws of Maryland. The amendment of the
Articles Supplementary, as hereinabove set forth has been duly advised,
approved, and adopted by a majority of the entire Board of Directors of the
Corporation, and by a majority of the outstanding Common Stock and AMPS voting
together as a single class and by a majority of the outstanding AMPS voting
together as a separate class.

         THIRD:   Except as amended, hereby, the Charter shall remain in full
force and effect.

         FOURTH:  The authorized capital stock of the Corporation has not been
increased by these Articles of Amendment.

         FIFTH:   These Articles of Amendment shall be effective immediately
upon the acceptance for recording or filing by the Maryland State Department
of Assessments and Taxation.




                                      2
<PAGE>



         The undersigned Vice President and Treasurer acknowledges these
Articles of Amendment to be the corporate act of the Corporation and as to all
matters or facts required to be verified under oath, the undersigned Vice
President and Treasurer states that to the best of his knowledge, information
and belief the matters and facts set forth in these Articles of Amendment with
respect to the authorization and approval of the amendment of the
Corporation's Articles Supplementary are true in all material respects, and
that this statement is made under the penalties of perjury.

         IN WITNESS WHEREOF, MUNIVEST FUND, INC. has caused these Articles of
Amendment to be signed in its name and on its behalf by its Vice President and
Treasurer, a duly authorized officer of the Corporation, and attested by its
Secretary as of October 11, 1999.


                                       MUNIVEST FUND, INC.



                                       By  /s/  Donald C. Burke
                                         ------------------------------------
                                          Name:  Donald C. Burke
                                          Title: Vice President and Treasurer


Attest:


  /s/  William E. Zitelli
-------------------------------
Name:  William E. Zitelli
Title: Secretary





                                      3


</TEXT>
</DOCUMENT>
