-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000950123-01-002543.txt : 20010323
<SEC-HEADER>0000950123-01-002543.hdr.sgml : 20010323
ACCESSION NUMBER:		0000950123-01-002543
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20010425
FILED AS OF DATE:		20010322

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD ARIZONA FUND INC /NJ/
		CENTRAL INDEX KEY:			0000911308
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-07083
		FILM NUMBER:		1576716

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD ARIZONA FUND II INC
		DATE OF NAME CHANGE:	19930826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD NEW YORK INSURED FUND INC
		CENTRAL INDEX KEY:			0000882150
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223144223
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06500
		FILM NUMBER:		1576717

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

	MAIL ADDRESS:	
		STREET 1:		PO BOX 9011
		STREET 2:		C/O MERRILL LYNCH ASSET MANAGEMENT
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW YORK MUNIYIELD FUND INC
		DATE OF NAME CHANGE:	19600201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD MICHIGAN FUND INC
		CENTRAL INDEX KEY:			0000882151
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223144219
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06501
		FILM NUMBER:		1576718

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		STREET 2:		C/O MERRILL LYNCH ASSET MANAGEMENT
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08543-9011
		BUSINESS PHONE:		6092822800

	MAIL ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		STREET 2:		C/O MERRILL LYNCH ASSET MANAGEMENT
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICHIGAN MUNIYIELD FUND INC
		DATE OF NAME CHANGE:	19600201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD CALIFORNIA FUND INC
		CENTRAL INDEX KEY:			0000882152
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223144221
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06499
		FILM NUMBER:		1576719

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08543-9011
		BUSINESS PHONE:		6092822800

	MAIL ADDRESS:	
		STREET 1:		P O BOX 9066
		STREET 2:		C/O MERRILL LYNCH ASSET MANAGEMENT
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALIFORNIA MUNIYIELD FUND INC
		DATE OF NAME CHANGE:	19600201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD FLORIDA FUND
		CENTRAL INDEX KEY:			0000882153
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06502
		FILM NUMBER:		1576720

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08543-9011
		BUSINESS PHONE:		6092822800

	MAIL ADDRESS:	
		STREET 1:		BOX 9011
		STREET 2:		C/O MERRILL LYNCH ASSET MANAGEMENT
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FLORIDA MUNIYIELD FUND INC
		DATE OF NAME CHANGE:	19600201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD NEW JERSEY FUND INC
		CENTRAL INDEX KEY:			0000884216
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223153971
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06570
		FILM NUMBER:		1576721

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 9011
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543
		BUSINESS PHONE:		6092822800

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD CALIFORNIA INSURED FUND INC
		CENTRAL INDEX KEY:			0000887126
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223170743
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06645
		FILM NUMBER:		1576722

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD CALIFORNIA INSURED FUND II INC
		CENTRAL INDEX KEY:			0000888410
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223194459
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-06692
		FILM NUMBER:		1576723

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536
		BUSINESS PHONE:		6092822800
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>y46430def14a.htm
<DESCRIPTION>NOTICE OF 2001 ANNUAL MEETING OF STOCKHOLDERS
<TEXT>

<HTML>
<HEAD>
<TITLE>DEFINITIVE PROXY</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV align="center">
 <FONT size="2">As filed with the Securities and Exchange
Commission on March&nbsp;22, 2001</FONT>
</DIV>

<P align="center">
<B>PROXY STATEMENT PURSUANT</B>

<DIV align="center">
<B>TO SECTION 14(A) OF THE SECURITIES</B>
</DIV>

<DIV align="center">
<B>EXCHANGE ACT OF 1934 (AMENDMENT
NO.&nbsp;&nbsp;&nbsp;&nbsp;)</B>
</DIV>

<P align="left">
<FONT size="2">Filed by the Registrant&nbsp;
<IMG src="y46430pi5-178.gif"></FONT>

<DIV align="left">
<FONT size="2">Filed by a party other than the Registrant&nbsp;
<IMG src="y46430pi5-110.gif"></FONT>
</DIV>

<P align="left">
<FONT size="2">Check the appropriate box:</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="49%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="48%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp;&nbsp;<IMG src="y46430pi5-110.gif">&nbsp;&nbsp;Preliminary Proxy
        Statement</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp;&nbsp;<IMG src="y46430pi5-110.gif">&nbsp;&nbsp;Confidential, for
        Use of the Commission Only (as</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp;&nbsp;<IMG src="y46430pi5-178.gif">&nbsp;&nbsp;Definitive Proxy
        Statement</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp; permitted by rule 14a-6(e)(2))</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp;&nbsp;<IMG src="y46430pi5-110.gif">&nbsp;&nbsp;Definitive
        Additional Materials</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top"><FONT size="2">
        &nbsp;&nbsp;<IMG src="y46430pi5-110.gif">&nbsp;&nbsp;Soliciting
        Material Pursuant to Rule&nbsp;14a-12</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">
MUNIYIELD ARIZONA FUND, INC.

<DIV align="center">
MUNIYIELD CALIFORNIA FUND, INC.
</DIV>

<DIV align="center">
MUNIYIELD CALIFORNIA INSURED FUND, INC.
</DIV>

<DIV align="center">
MUNIYIELD CALIFORNIA INSURED FUND II, INC.
</DIV>

<DIV align="center">
MUNIYIELD FLORIDA FUND
</DIV>

<DIV align="center">
MUNIYIELD MICHIGAN FUND, INC.
</DIV>

<DIV align="center">
MUNIYIELD NEW JERSEY FUND, INC.
</DIV>

<DIV align="center">
MUNIYIELD NEW YORK INSURED FUND, INC.
</DIV>

<P align="center">
P.O. Box 9011, Princeton, New Jersey 08543-9011

<DIV align="center">
<HR size="1" width="95%" align="center" noshade>
</DIV>

<DIV align="center">
<FONT size="2">(Name of Registrant as Specified in Its
Charter)</FONT>
</DIV>

<P align="center">


<DIV align="center">
<HR size="1" width="95%" align="center" noshade>
</DIV>

<DIV align="center">
<FONT size="2">(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</FONT>
</DIV>

<P align="left">
<FONT size="2">Payment of filing fee (Check the appropriate
box):</FONT>

<DIV align="left">
<IMG src="y46430pi5-178.gif"><FONT size="2">&nbsp;&nbsp;No fee
required.</FONT>
</DIV>

<DIV align="left">
<IMG src="y46430pi5-110.gif"><FONT size="2">&nbsp;&nbsp;Fee computed
on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and
0-11.</FONT>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT></TD>
        <TD align="left">
        <FONT size="2">Title of each class of securities to which
        transaction applies:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(2)</FONT></TD>
        <TD align="left">
        <FONT size="2">Aggregate number of securities to which
        transaction applies:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(3)</FONT></TD>
        <TD align="left">
        <FONT size="2">Per unit price or other underlying value of
        transaction computed pursuant to Exchange Act Rule&nbsp;0-11
        (Set forth the amount on which the filing fee is calculated and
        state how it was determined.):</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(4)</FONT></TD>
        <TD align="left">
        <FONT size="2">Proposed maximum aggregate value of
        transaction:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(5)</FONT></TD>
        <TD align="left">
        <FONT size="2">Total fee paid:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="2%"></TD>
        <TD width="1%"></TD>
        <TD width="97%"></TD>
</TR>

<TR>
        <TD valign="top">
        <IMG src="y46430pi5-110.gif"><FONT size="2"> <BR>
        </FONT></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">Fee paid previously with preliminary
        materials:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="100%" align="right" noshade>
</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
        <TD width="2%"></TD>
        <TD width="1%"></TD>
        <TD width="97%"></TD>
</TR>

<TR>
        <TD valign="top">
        <IMG src="y46430pi5-110.gif"><FONT size="2"> <BR>
        </FONT></TD>
        <TD></TD>
        <TD valign="top">
        <FONT size="2">Check box if any part of the fee is offset as
        provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the
        filing for which the offsetting fee was paid previously.
        Identify the previous filing by registration statement number,
        or the form or schedule and the date of its filing.</FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT></TD>
        <TD align="left">
        <FONT size="2">Amount previously paid:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(2)</FONT></TD>
        <TD align="left">
        <FONT size="2">Form, Schedule or Registration Statement
        No.:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(3)</FONT></TD>
        <TD align="left">
        <FONT size="2">Filing Party:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;(4)</FONT></TD>
        <TD align="left">
        <FONT size="2">Date Filed:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="91%" align="right" noshade>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="center"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center"><B>MUNIYIELD ARIZONA FUND, INC.</B>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA INSURED FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA INSURED FUND&nbsp;II, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD FLORIDA FUND</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD MICHIGAN FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD NEW JERSEY FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD NEW YORK INSURED FUND, INC.</B>
</DIV>

<DIV align="center">
<B>P.O. Box 9011</B>
</DIV>

<DIV align="center">
<B>Princeton, New Jersey 08543-9011</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center"><B>NOTICE OF 2001 ANNUAL MEETING OF STOCKHOLDERS</B>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center"><B>April&nbsp;25, 2001</B>

<DIV align="left">TO THE STOCKHOLDERS:
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">NOTICE IS HEREBY GIVEN that the 2001 Annual
Meeting of Stockholders (the &#147;Meeting&#148;) of each of the
above-listed investment companies (each a &#147;Fund&#148; and,
collectively, the &#147;Funds&#148;) will be held at the offices
of Merrill Lynch Investment Managers, L.P., 800&nbsp;Scudders
Mill Road, Plainsboro, New Jersey, on Wednesday, April&nbsp;25,
2001 at the time specified for each Fund in Exhibit&nbsp;A of
the combined proxy statement for the following purposes:</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;
	<FONT size="2">(1)&nbsp; To elect a Board of Directors/ Trustees
	of each Fund to serve for the ensuing year;</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;
	<FONT size="2">(2)&nbsp; To transact such other business as may
	properly come before the Meeting or any adjournment
	thereof.</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors/ Trustees of each Fund has
fixed the close of business on February&nbsp;28, 2001 as the
record date for the determination of stockholders entitled to
notice of and to vote at the Meeting or any adjournment
thereof.</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A complete list of the stockholders of each Fund
entitled to vote at the Meeting will be available and open to
the examination of any stockholder of that Fund for any purpose
germane to the Meeting during ordinary business hours from and
after April&nbsp;11, 2001, at the office of the Funds, 800
Scudders Mill Road, Plainsboro, New Jersey 08536. You are
cordially invited to attend the Meeting. <B>Stockholders who do
not expect to attend the meeting in person are requested to
complete, date and sign the enclosed form of proxy and return it
promptly in the envelope provided for this purpose. If you have
been provided with the opportunity on your proxy card or voting
instruction form to provide voting instructions via telephone or
the Internet, please take advantage of these prompt and
efficient voting options. </B>The enclosed proxy is being
solicited on behalf of the Board of Directors/ Trustees of each
Fund.</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you have any questions regarding the enclosed
proxy material or need assistance in voting your shares, please
contact our proxy solicitor, Shareholder Communications
Corporation at 1-800-645-4519.</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By Order of the Boards of Directors/
	Trustees</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">ALICE A. PELLEGRINO</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<I><FONT size="2">Secretary of the Funds</FONT></I></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Plainsboro, New Jersey</FONT>

<DIV align="left">
<FONT size="2">Dated: March&nbsp;22, 2001</FONT>
</DIV>

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<P><HR noshade><P>

<P align="center"><B>COMBINED PROXY STATEMENT</B>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center">
<B>MUNIYIELD ARIZONA FUND, INC.</B>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA INSURED FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD CALIFORNIA INSURED FUND&nbsp;II, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD FLORIDA FUND</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD MICHIGAN FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD NEW JERSEY FUND, INC.</B>
</DIV>

<DIV align="center">
<B>MUNIYIELD NEW YORK INSURED FUND, INC.</B>
</DIV>

<DIV align="center">
<B>P.O. Box 9011</B>
</DIV>

<DIV align="center">
<B>Princeton, New Jersey 08543-9011</B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center"><B>2001 ANNUAL MEETING OF STOCKHOLDERS</B>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<P align="center"><B>April&nbsp;25, 2001</B>

<P align="center"><B>INTRODUCTION</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Proxy Statement is furnished in connection with the
solicitation of proxies on behalf of the Boards of Directors or
Trustees of the above-listed funds (each a &#147;Fund&#148; and,
collectively, the &#147;Funds&#148;), to be voted at the 2001
Annual Meeting of Stockholders of each Fund (the
&#147;Meeting&#148;), to be held at the offices of Merrill Lynch
Investment Managers, L.P. (&#147;MLIM&#148;), 800 Scudders Mill
Road, Plainsboro, New Jersey, on Wednesday, April&nbsp;25, 2001
at the time specified in Exhibit&nbsp;A hereto. The approximate
mailing date of this Proxy Statement is March&nbsp;26, 2001.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Fund is organized either as a Maryland corporation or a
Massachusetts business trust. In each jurisdiction, nomenclature
varies. For ease and clarity of presentation, throughout the
proxy statement shares of common stock or common shares of
beneficial interest of a Fund are referred to as
&#147;Shares,&#148; the outstanding Shares together with the
outstanding auction market preferred stock or auction market
preferred shares (&#147;AMPS&#148;) of a Fund are referred to
collectively as the &#147;Capital Stock,&#148; holders of Shares
or AMPS are referred to as &#147;Stockholders,&#148; the Board
of Directors or Trustees of each of the Funds is referred to as
the &#147;Board,&#148; the directors or trustees of each Fund
are referred to as &#147;Board members,&#148; the investment
adviser of each Fund is referred to as the &#147;Investment
Adviser&#148; or &#147;FAM&#148; and each Fund&#146;s Articles
of Incorporation or Declaration of Trust is referred to as its
&#147;charter.&#148; Unless otherwise indicated, MLIM and Fund
Asset Management, L.P. (&#147;FAM&#148;) are together referred
to as &#147;MLIM.&#148;

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All properly executed proxies received prior to the Meeting will
be voted at the Meeting in accordance with the instructions
marked thereon or otherwise as provided therein. Unless
instructions to the contrary are marked, proxies will be voted
<I>for </I>the election of the Board members. Any proxy may be
revoked at any time prior to the exercise thereof by giving
written notice to the Secretary of the Fund at the Fund&#146;s
address indicated above or by voting in person at the Meeting.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of each Fund has fixed the close of business on
February&nbsp;28, 2001 as the record date (the &#147;Record
Date&#148;) for the determination of stockholders entitled to
notice of and to vote at the Meeting and at

<P align="center">

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<P><HR noshade><P>

<DIV align="left">
any adjournment thereof. Stockholders on the Record Date will be
entitled to one vote for each share held, with no shares having
cumulative voting rights. As of the Record Date, each Fund had
outstanding the number of Shares and the number of AMPS
indicated in Exhibit&nbsp;A. To the knowledge of each Fund, as
of the Record Date, no person is the beneficial owner of more
than five percent of the outstanding Shares or AMPS at such date.
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of each Fund knows of no business other than that
mentioned in Item&nbsp;1 of the Notice of Meeting that will be
presented for consideration at the Meeting. If any other matter
is properly presented, it is the intention of the persons named
in the enclosed proxy to vote in accordance with their best
judgment.

<P align="center"><B>ITEM 1.&nbsp;&nbsp;ELECTION OF BOARD MEMBERS</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the Meetings, the Board members of each Fund will be elected
to serve until the next Annual Meeting of Stockholders for such
Fund and until their successors are elected and qualified. It is
intended that all properly executed proxies will be voted
(unless such authority has been withheld in the proxy) as
follows:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(1)&nbsp; All proxies of the holders of AMPS, voting separately
	as a class, in favor of the two (2)&nbsp;persons designated
	below as Board members to be elected by holders of AMPS; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(2)&nbsp; All proxies of the holders of Shares and AMPS, voting
	together as a single class, in favor of the four
	(4)&nbsp;persons designated below as Board members to be elected
	by holders of Shares and AMPS.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of each Fund knows of no reason why any of these
nominees will be unable to serve, but in the event of any such
unavailability, the proxies received will be voted for such
substitute nominee or nominees as the Board for such Fund may
recommend.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Certain information concerning the nominees is set forth below.
Additional information concerning the nominees and other
information relevant to the election of Board members is set
forth in Exhibit&nbsp;A.

<P align="center"><B>TO BE ELECTED BY HOLDERS OF AMPS OF EACH OF THE FUNDS,</B>

<DIV align="center">
<B>VOTING SEPARATELY AS A CLASS</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Principal Occupations</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>During Past Five Years</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>and Public Directorships</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Joseph L. May<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;424 Church Street<BR>
	&nbsp;&nbsp;Suite&nbsp;2000<BR>
	&nbsp;&nbsp;Nashville, Tennessee 37219</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">71</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Attorney in private practice since 1984; President, May and
	Athens Hosiery Mills Division, Wayne- Gossard Corporation from
	1954 to 1983; Vice President, Wayne-Gossard Corporation from
	1972 to 1983; Chairman, The May Corporation (personal holding
	company) from 1972 to 1983; Director, Signal Apparel Co. from
	1972 to 1989</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">1

<!-- PAGEBREAK -->
<P><HR noshade><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Principal Occupations</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>During Past Five Years</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>and Public Directorships</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Andr&#233; F. Perold<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;Morgan Hall<BR>
	&nbsp;&nbsp;Soldiers Field<BR>
	&nbsp;&nbsp;Boston, Massachusetts 02163</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">48</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Harvard Business School: George Gund Professor of Finance and
	Banking since 2000, Finance Area Chair since 1996,
	Sylvan&nbsp;C. Coleman Professor of Financial Management from
	1993 to 2000; Trustee, The Common Fund since 1989; Director,
	Genbel Securities Limited and Gensec Bank since 1999; Director,
	Gensec Asset Management since 2000; Director,
	Bulldogresearch.com since 2000; Director, Stockback.com since
	2000; Director, Quantec Limited from 1991 to 1999; Director,
	TIBCO from 1994 to 1996.</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><B>TO BE ELECTED BY HOLDERS OF SHARES AND AMPS OF EACH OF</B>

<DIV align="center">
<B>THE FUNDS, VOTING TOGETHER AS A SINGLE CLASS</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Principal Occupations</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>During Past Five Years</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>and Public Directorships</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	James H. Bodurtha<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;36 Popponesset Road<BR>
	&nbsp;&nbsp;Cotuit, Massachusetts 02635</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">57</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director and Executive Vice President, The China Business Group,
	Inc. since 1996; Chairman and Chief Executive Officer, China
	Enterprise Management Corporation from 1993 to 1996; Chairman,
	Berkshire Corporation since 1980; Partner, Squire, Sanders &#38;
	Dempsey from 1980 to 1993.</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Terry K. Glenn<SUP>(1)</SUP>*<BR>
	&nbsp;&nbsp;P.O. Box 9011<BR>
	&nbsp;&nbsp;Princeton, New Jersey 08593-9011</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">60</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Executive Vice President of FAM and MLIM (which terms as used
	herein include their corporate predecessors) since 1983;
	Executive Vice President and Director of Princeton Services,
	Inc. (&#147;Princeton Services&#148;) since 1993; President of
	FAM Distributors, Inc. (&#147;FAMD&#148;) since 1986 and
	Director thereof since 1991; President of Princeton
	Administrators, L.P. since 1988.</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Herbert I. London<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;2 Washington Square Village<BR>
	&nbsp;&nbsp;New York, New York 10012</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">62</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	John M. Olin Professor of Humanities, New York University since
	1993 and Professor since 1980; President, Hudson Institute since
	1997 and Trustee thereof since 1980; Dean, Gallatin Division of
	New York University from 1976 to 1993; Distinguished Fellow,
	Herman Kahn Chair, Hudson Institute from 1984 to 1985; Director,
	Damon Corp. from 1991 to 1995; Overseer, Center for Naval
	Analyses from 1983 to 1993; Limited Partner, Hypertech LP since
	1996.</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">2

<!-- PAGEBREAK -->
<P><HR noshade><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Principal Occupations</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>During Past Five Years</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>and Public Directorships</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Roberta Cooper Ramo<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;P.O. Box 2168<BR>
	&nbsp;&nbsp;500 Fourth Street, N.W.<BR>
	&nbsp;&nbsp;Albuquerque, New Mexico 87103</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">58</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Shareholder, Modrall, Sperling, Roehl, Harris &#38; Sisk, P.A.
	since 1993 President, American Bar Association from 1995 to 1996
	and Member of the Board of Governors thereof from 1994 to 1997;
	Partner, Poole, Kelly &#38; Ramo, Attorneys at Law, P.C. from
	1977 to 1993; Director, Coopers, Inc. since 1999; Director,
	United New Mexico Bank (now Wells Fargo) from 1983 to 1988;
	Director, First National Bank of New Mexico (now First Security)
	from 1975 to 1976.</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Each of the nominees is a director, trustee or
	member of an advisory board of certain other investment
	companies for which FAM or MLIM acts as investment adviser. See
	&#147;Compensation of Board Members.</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Member of the Audit Committee of each
	Board.</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp; *</FONT></TD>
	<TD align="left">
	<FONT size="2">Interested person, as defined in the Investment
	Company Act of 1940, as amended (the &#147;Investment Company
	Act&#148;), of each of the Funds.</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<I>Committee Report.</I> The Board of each Fund has a standing
Audit Committee (each, a &#147;Committee&#148;), which consists
of Board members who are not &#147;interested persons&#148; of
the Fund within the meaning of the Investment Company Act and
who are &#147;independent&#148; as defined in the listing
standards of the New York Stock Exchange or American Stock
Exchange, as applicable. Currently, Messrs.&nbsp;Bodurtha,
London, May and Perold and Ms.&nbsp;Ramo are members of each
Committee. The principal responsibilities of each Committee are
to: (i)&nbsp;recommend to the Board the selection, retention or
termination of the Fund&#146;s independent auditors;
(ii)&nbsp;review with the independent auditors the scope,
performance and anticipated cost of their audit;
(iii)&nbsp;discuss with the independent auditors certain matters
relating to the Fund&#146;s financial statements, including any
adjustment to such financial statements recommended by such
independent auditors, or any other results of any audit;
(iv)&nbsp;ensure that the independent auditors submit on a
periodic basis a formal written statement as to their
independence, discuss with the independent auditors any
relationships or services disclosed in the statement that may
impact the objectivity and independence of the Fund&#146;s
independent auditors and recommend that the Board take
appropriate action in response to this statement to satisfy
itself of the independent auditors&#146; independence; and
(v)&nbsp;consider the comments of the independent auditors and
management&#146;s responses thereto with respect to the quality
and adequacy of the Fund&#146;s accounting and financial
reporting policies and practices and internal controls. Each
Fund adopted an Audit Committee Charter at a meeting held on
May&nbsp;23, 2000. The Board revised and reapproved the Charter
on March&nbsp;13, 2001. A copy of the revised Audit Committee
Charter is attached to this Proxy Statement as Exhibit&nbsp;B.
The Committee also has (a)&nbsp;received written disclosures and
the letter required by Independence Standards Board Standard
No.&nbsp;1 from Deloitte &#38;
Touche&nbsp;<FONT size="1">LLP</FONT> (&#147;D&#38;T&#148;),
each Fund&#146;s independent auditors and (b)&nbsp;discussed
certain matters required to be discussed by Statements on
Auditing Standards No.&nbsp;61 with D&#38;T. The Committee has
considered whether the provision of non-audit services by the
Fund&#146;s independent auditors is compatible with maintaining
the independence of those auditors.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At its meeting held on December&nbsp;14, 2000, the Committee
reviewed and discussed the audit of each Fund&#146;s financial
statements with Fund management and the independent auditors.
Had any material concerns arisen during the course of the audit
and the preparation of the audited financial statements mailed

<P align="center">3
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<P><HR noshade><P>

<DIV align="left">
to Stockholders and included in each Fund&#146;s Annual Report,
the Committee would have been notified by Fund management or the
independent auditors. The Committees received no such
notifications. Beginning with each Fund&#146;s fiscal year
ending October&nbsp;31, 2001 or November&nbsp;30, 2001 (for
MuniYield New Jersey Fund, Inc.), each Committee will recommend
to the Board whether or not the Fund&#146;s audited financial
statements should be included in the Fund&#146;s Annual Report
to Stockholders.
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the above, each Committee also reviews and
nominates candidates to serve as non-interested Board members.
The Committee generally will not consider nominees recommended
by stockholders of a Fund. The non-interested Board members have
retained independent legal counsel to assist them in connection
with these duties.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Committee and Board Meetings.</I> During each Fund&#146;s
last fiscal year, each of the Board members then in office
attended at least 75% of the aggregate of the total number of
meetings of the Board held during the fiscal year and, if a
member, of the total number of meetings of the Audit Committee
held during the period for which he or she served.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compliance with Section&nbsp;16(a) of the Securities Exchange
Act of 1934.</I> Section&nbsp;16(a) of the Securities Exchange
Act of 1934, as amended (the &#147;Exchange Act&#148;), requires
the officers and directors of each Fund and persons who own more
than ten percent of a registered class of the Fund&#146;s equity
securities, to file reports of ownership and changes in
ownership on Forms 3, 4 and 5 with the Securities and Exchange
Commission (&#147;SEC&#148;) and the New York Stock Exchange or
American Stock Exchange, as applicable. Officers, directors and
greater than ten percent stockholders are required by SEC
regulations to furnish the Fund with copies of all Forms&nbsp;3,
4 and 5 they file.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based solely on each Fund&#146;s review of the copies of such
forms, and amendments thereto, furnished to it during or with
respect to its most recent fiscal year, and written
representations from certain reporting persons that they were
not required to file Form&nbsp;5 with respect to the most recent
fiscal year, each Fund believes that all of its officers,
directors, greater than ten percent beneficial owners and other
persons subject to Section&nbsp;16 of the Exchange Act because
of the requirements of Section&nbsp;30 of the Investment Company
Act, (<I>i.e.</I>, any advisory board member, investment adviser
or affiliated person of the Fund&#146;s investment adviser),
have complied with all filing requirements applicable to them
with respect to transactions during each Fund&#146;s most recent
fiscal year, with the exception that (i)&nbsp;Roberta Cooper
Ramo inadvertently made late Form&nbsp;3 filings for all of the
Funds, except MuniYield New Jersey Fund, Inc., reporting her
election as Director of the Funds, and (ii)&nbsp;Michael G.
Clark, inadvertently made late Form&nbsp;4 filings reporting his
Statement of Changes in Beneficial Ownership for all of the
Funds.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Interested Persons.</I> Each Fund considers Mr.&nbsp;Glenn to
be an &#147;interested person&#148; of that Fund within the
meaning of Section&nbsp;2(a)(19) of the Investment Company Act
because of the positions he holds with FAM and its affiliates.
Mr.&nbsp;Glenn is the President of each Fund.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compensation of Board Members.</I> Each Fund pays fees to
each non-interested Board member for service to the Fund. Each
non-interested Board member receives an aggregate annual
retainer of $100,000 for his or her services to multiple
investment companies and portfolios advised by the Investment
Adviser or its affiliates (&#147;Affiliate-Advised Funds&#148;).
As of the date of this Combined Proxy Statement, each of the
Board members serves on the boards of a number of
Affiliate-Advised Funds set forth in Exhibit&nbsp;A under

<P align="center">4
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<DIV align="left">
&#147;Information Pertaining to Officers and Board
Members.&#148; The portion of the annual retainer allocated to
each Fund is determined quarterly based on relative net assets
of the Fund. In addition, each non-interested Board member
receives a fee per in-person Board meeting attended and per
in-person Committee meeting attended. The annual per meeting
fees paid to each non-interested Board member aggregate $60,000
for all Affiliate-Advised Funds on which such Board member
serves and are allocated equally among those funds. Each Fund
also reimburses the non-interested Board members for actual
out-of-pocket expenses relating to attendance at meetings. Each
Committee consists of all of the non-interested Board members.
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Officers of the Funds.</I> Information regarding the officers
of each Fund is set forth in Exhibit&nbsp;A. Officers of the
Funds are elected and appointed by the Board and hold office
until they resign, are removed or are otherwise disqualified to
serve.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Stock Ownership.</I> As of the Record Date, none of the
nominees held shares of the Funds.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the Record Date, the Board members and officers of each Fund
as a group owned an aggregate of less than 1% of the shares of
that Fund outstanding at such date and owned none of the AMPS
outstanding at such date. At such date, Mr.&nbsp;Glenn, an
officer and a Board member of each Fund, and the other officers
of each Fund owned an aggregate of less than 1% of the
outstanding shares of common stock of Merrill Lynch &#38; Co.,
Inc.

<P align="center"><B>ADDITIONAL INFORMATION</B>

<P align="left"><B>Expenses and Methods of Proxy Solicitation</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The expenses of preparation, printing and mailing of the
enclosed form of proxy and accompanying Notice and Proxy
Statement will be borne by each Fund in proportion to its
respective net assets. Each Fund will reimburse banks, brokers
and others for their reasonable expenses in forwarding proxy
solicitation material to the beneficial owners of the shares of
the Fund.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order to obtain the necessary quorum at the Meeting
(<I>i.e.</I>, a majority of the shares of each class of
securities of each Fund entitled to vote at the Meeting, present
in person or by proxy), supplementary solicitation may be made
by mail, telephone, telegraph or personal interview by officers
of the Funds. Each Fund has retained Shareholder Communications
Corporation, 17 State Street, New York, New York 10004 to assist
in the solicitation of proxies at a cost to each Fund of
approximately $3,500 plus out-of-pocket expenses estimated to be
$500 per Fund.

<P align="left"><B>Broker Non-Votes and Abstentions</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All shares represented by properly executed proxies, unless such
proxies have previously been revoked, will be voted at the
Meetings in accordance with the directions on the proxies; if no
direction is indicated, the shares will be voted &#147;FOR&#148;
the Board member nominees.

<P align="center">5
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<P><HR noshade><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
With respect to Item&nbsp;1, &#147;Election of Board
Members,&#148; holders of AMPS, voting separately as a class,
are entitled to elect two Board members, and holders of Capital
Stock, voting together as a single class, are entitled to elect
the remaining Board members. Assuming a quorum is present,
(A)&nbsp;with respect to each Fund except MuniYield Florida
Fund, (i)&nbsp;election of the two Board members to be elected
by the holders of AMPS, voting separately as a class, will
require a plurality of all votes cast by the holders of AMPS,
represented at the Meeting and entitled to vote; and
(ii)&nbsp;election of the remaining Board members will require a
plurality of all votes cast by the holders of Capital Stock
represented at the Meeting and entitled to vote, voting together
as a single class; (B)&nbsp;with respect to MuniYield Florida
Fund, (i)&nbsp;election of the two Board members to be elected
by the holders of AMPS, voting separately as a class, will
require the affirmative vote of a majority of the AMPS
represented at the Meeting in person or by proxy and
(ii)&nbsp;election of the remaining Board members will require
the affirmative vote of a majority of the shares of Capital
Stock represented at the Meeting in person or by proxy voting
together as a single class. A &#147;plurality of the votes&#148;
means the candidate must receive more votes than any other
candidate for the same position, but not necessarily a majority
of votes cast.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Broker-dealer firms, including Merrill Lynch, Pierce, Fenner
&#38; Smith Incorporated (&#147;MLPF&#38;S&#148;), holding
shares of each Fund in &#147;street name&#148; for the benefit
of their customers and clients will request the instructions of
such customers and clients on how to vote their shares on each
Item before the Meeting. The Funds understand that, under the
rules of the New York Stock Exchange or the American Stock
Exchange, as applicable, such broker-dealer firms may, without
instructions from their customers and clients, grant authority
to the proxies designated to vote on the election of Board
members (Item&nbsp;1) if no instructions have been received
prior to the date specified in the broker-dealer firm&#146;s
request for voting instructions. The Funds will include shares
held of record by broker-dealers as to which such authority has
been granted in its tabulation of the total number of votes
present for purposes of determining whether the necessary quorum
of stockholders exists. Proxies that are returned to any Fund
but that are marked &#147;abstain&#148; or on which a
broker-dealer has declined to vote on any proposal (&#147;broker
non-votes&#148;) will be counted as present for purposes of a
quorum. MLPF&#38;S has advised the Funds that it intends to vote
shares held in its name for which no instructions are received,
except as limited by agreement or applicable law, in the same
proportion as the votes received from beneficial owners of those
shares for which instructions have been received, whether or not
held in nominee name. Abstentions and broker non-votes will not
be counted as votes cast. Abstentions and broker non-votes,
therefore, will not have an effect on the vote on Item&nbsp;1 in
the case of all Funds except MuniYield Florida Fund; however,
abstentions and broker non-votes will have the same effect as a
vote against Item&nbsp;1 in the case of MuniYield Florida Fund.

<P align="left"><B>Other Matters</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Management knows of no other matters to be presented at the
Meetings. However, if other matters are presented for a vote at
the Meetings or any adjournments thereof, the proxy holders will
vote the Shares and AMPS represented by properly executed
proxies according to their judgment on those matters.

<P align="center">6
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<P align="left"><B>Independent Auditors&#146; Fees</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the aggregate fees paid to the
independent auditors for each Fund&#146;s most recent fiscal
year for professional services rendered for: (i)&nbsp;the audit
of each Fund&#146;s annual financial statements and the review
of financial statements included in each Fund&#146;s report to
stockholders; (ii)&nbsp;financial information systems design and
implementation services provided to each Fund, its investment
adviser and entities controlling, controlled by or under common
control with the investment adviser that provide services to the
Fund; and (iii)&nbsp;all other non-audit services provided to
each Fund, its investment adviser, and entities controlling,
controlled by or under common control with the investment
adviser that provide services to the Fund. The Committee of each
Fund has determined that the provision of information technology
services under clause&nbsp;(ii) and the provision of non-audit
services under clause&nbsp;(iii) are compatible with maintaining
the independence of the independent auditors.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="39%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Audit Fees</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Financial Information</B></FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Charged</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Systems Design and</B></FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>to the Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Implementation Fees</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Other Fees*</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fiscal Year End</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Arizona Fund, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Fund, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">29,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Insured Fund, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">29,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Insured Fund&nbsp;II, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">29,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Florida Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">32,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,436,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Michigan Fund, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">28,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October 31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield New Jersey Fund, Inc.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">32,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,436,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">November 30, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="17"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield New York Insured Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">33,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,437,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">October&nbsp;31, 2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="2%"></TD>
	<TD width="95%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">$3,396,800 of these other non-audit services
	relate to all funds managed by FAM and MLIM.</FONT></TD>
</TR>

</TABLE>

<P align="left"><B>Address of Investment Adviser</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The principal office of FAM is located at 800 Scudders Mill
Road, Plainsboro, New Jersey 08536.

<P align="left"><B>Annual Report Delivery</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Each Fund will furnish, without charge, a copy of its Annual
Report for the Fund&#146;s last fiscal year to any Stockholder
upon request. </I>Such requests should be directed to the
applicable Fund, P.O. Box 9011, Princeton, New Jersey
08543-9011, Attention: Alice A. Pellegrino, or to 1-800-637-3863.

<P align="center">7
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left"><B>Stockholder Proposals</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Stockholder intends to present a proposal at the 2002
Annual Meeting of Stockholders of a Fund, which is anticipated
to be held in April&nbsp;2002, and desires to have the proposal
included in the Fund&#146;s proxy statement and form of proxy
for that meeting, the Stockholder must deliver the proposal to
the offices of the Fund by November&nbsp;22, 2001. Any
stockholder of a Fund who desires to bring a proposal at the
Fund&#146;s 2002 Annual Meeting of Stockholders without
including such proposal in the Fund&#146;s proxy statement must
deliver written notice thereof to the Secretary of the Fund
(addressed to 800&nbsp;Scudders Mill Road, Plainsboro, New
Jersey 08543) by February&nbsp;5, 2002.
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	By Order of the Boards of Directors/ Trustees</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	A<FONT size="1">LICE</FONT> A. P<FONT size="1">ELLEGRINO</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<I>Secretary of the Funds</I></TD>
</TR>

</TABLE>

<P align="left">
Dated: March&nbsp;22, 2001

<P align="center">8

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left">

<P align="right"><B>EXHIBIT&nbsp;A</B>

<P align="center"><B>INFORMATION PERTAINING TO EACH FUND</B>

<P align="left"><B>General Information Pertaining to the Funds</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="41%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Defined Term</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fiscal</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>State of</B></FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Used in Exhibit A</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Year End</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Organization</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Meeting Time</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Arizona Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">AZ Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10:20&nbsp;AM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">CA Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10:40&nbsp;AM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Insured Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">CA Ins. Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11:00&nbsp;AM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield California Insured Fund II, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">CA Ins. Fund II</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11:20&nbsp;AM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Florida Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">FL Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MA</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11:40&nbsp;AM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Michigan Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">MI Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">12:00&nbsp;PM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield New Jersey Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">NJ Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11/30</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">12:20&nbsp;PM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield New York Insured Fund, Inc.</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">NY Ins. Fund</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10/31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">MD</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">12:40&nbsp;PM</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="63%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="7"><FONT size="2"><B>Shares of Capital Stock</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="7"><FONT size="2"><B>Outstanding as of the Record Date</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="7"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Shares</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>AMPS</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	AZ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,450,418</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,212</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">21,184,475</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,600</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">16,562,523</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund II</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18,359,120</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	FL Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">13,551,880</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,800</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MI Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7,911,326</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NJ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">14,182,113</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,900</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NY Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">39,445,962</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10,360</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left"><B>Information Pertaining to Officers and Board Members</B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="23"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="23"><FONT size="2"><B>Year in Which Each Nominee Became a Member of the Board</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="23"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Bodurtha</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Glenn</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>London</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>May</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Perold</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Ramo</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	AZ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund II</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	FL Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MI Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NJ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NY Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">A-1

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Set forth in the table below is information regarding board and
committee meetings held and the aggregate fees and expenses paid
by the Fund to non-interested Board members during each
Fund&#146;s most recently completed fiscal year.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="32%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="11"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="11"><FONT size="2"><B>Board</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="7"><FONT size="2"><B>Audit Committee</B></FONT></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="11"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="7"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Aggregate</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B># Meetings</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Annual</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Per Meeting</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B># Meetings</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Per Meeting</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fees and</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Held*</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fee ($)**</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fee ($)***</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Held*</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fee ($)***</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Expenses($)</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	AZ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">174.18</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.63</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">16,072</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">866.15</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">32,499</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">642.76</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">27,173</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund II</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">769.59</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,130</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	FL Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">552.33</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,633</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MI Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">322.23</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">19,808</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NJ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">577.56</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,379</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NY Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,568.86</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">227.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">113.64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">47,207</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="4%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;&nbsp;*&nbsp;</TD>
	<TD align="left">
	Includes meetings held via teleconferencing equipment.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;**&nbsp;</TD>
	<TD align="left">
	Each non-interested Board Member receives an aggregate annual
	retainer of $100,000 for his or her services to certain funds
	advised by FAM and its affiliate, MLIM (&#147;Affiliate-Advised
	Funds&#148;). The portion of the annual retainer allocated to
	each Affiliate-Advised Fund is determined quarterly based on the
	relative net assets of each such fund.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>***&nbsp;</TD>
	<TD align="left">
	The fee is payable for each meeting attended in person. No fee
	is paid for telephonic meetings. The annual per meeting fees
	paid to each non-interested Board Member aggregate $60,000 for
	all Affiliate-Advised Funds for which that Board Member serves
	and are allocated equally among those funds.</TD>
</TR>

</TABLE>

<P align="center">A-2
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Set forth in the table below is information regarding
compensation paid by the Fund to the non-interested Board
members for the most recently completed fiscal year.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="19"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="19"><FONT size="2"><B>Compensation From Fund ($)&#134;</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="19"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Bodurtha</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>London</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>May</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Perold</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Ramo</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	AZ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,420</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,420</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,420</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,420</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,944</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,422</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,422</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,422</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,422</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8,836</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">7,233</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	CA Ins. Fund II</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,137</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,137</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,137</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,137</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8,123</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	FL Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,525</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,525</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,525</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,525</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,162</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MI Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,854</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,854</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,854</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,854</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,009</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NJ Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,345</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,345</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,345</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,345</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,373</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	NY Ins. Fund</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,478</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,478</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,478</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,478</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11,604</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="99%"></TD>
</TR>

<TR valign="top">
	<TD>&#134;&nbsp;</TD>
	<TD align="left">
	No pension or retirement benefits are accrued as part of Fund
	expenses.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Set forth in the table below is information regarding the
aggregate compensation paid by all Affiliate-Advised Funds, to
non-interested Board members for the year ended
December&nbsp;31, 2000.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="23%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="23%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Aggregate Compensation</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>From Funds and Other</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Affiliate-Advised Funds</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name of Board Member</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Paid to Board Members ($)(1)</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	James H. Bodurtha</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,250</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Herbert I. London</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,250</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Joseph L. May</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,250</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Andr&#233; F. Perold</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,250</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Roberta Cooper Ramo</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">169,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="4%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>(1)&nbsp;</TD>
	<TD align="left">
	The Directors serve on the boards of Affiliate Advised Funds as
	follows: Mr.&nbsp; Bodurtha (30 registered investment companies
	consisting of 42 portfolios); Mr.&nbsp;London (30 registered
	investment companies consisting of 42 portfolios); Mr.&nbsp; May
	(30 registered investment companies consisting of 42
	portfolios); Mr.&nbsp;Perold (30 registered investment companies
	consisting of 42 portfolios); and Ms.&nbsp;Ramo (30 registered
	investment companies consisting of 42 portfolios).</TD>
</TR>

</TABLE>

<P align="center">A-3
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Set forth in the table below is information about the officers
of each of the Funds.

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="33%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>AZ</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>FL</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MI</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>NJ</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>NY Ins.</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="2"><FONT size="2"><B>Name and Biography*</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Office</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund II</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="2"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Terry K. Glenn</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">60</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">**</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Executive Vice President of FAM and MLIM since 1983; Executive
	Vice President and Director of Princeton Services since 1993;
	President of FAM Distributors, Inc. (&#147;FAMD&#148;) since
	1986 and Director thereof since 1991; President of Princeton
	Administrators, L.P. since 1988.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Vincent R. Giordano</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">56</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Senior</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Managing Director of MLIM since 2000; Senior Vice President of
	FAM and MLIM from 1984 to 2000; Senior Vice President of
	Princeton Services since 1993.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice<BR>
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Kenneth A. Jacob</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">50</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	First Vice President of MLIM since 1997; Vice President of MLIM
	from 1984 to 1997; Vice President of FAM since 1984.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Donald C. Burke</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">40</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1993</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	First Vice President of the Manager and FAM since 1997 and
	Treasurer thereof since 1999; Senior Vice President and
	Treasurer of Princeton Services since 1999; Vice President of
	FAMD since 1999; Vice President of the Manager from 1990 to
	1997; Director of Taxation of the Manager since 1990.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President<BR>
	Treasurer</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2"><BR>1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Michael Kalinoski</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">30</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice President and Portfolio Manager of MLIM since 1999; Head
	Municipal Bond Trader with Strong Funds from 1996 to 1999 and a
	member of the municipal bond investment team of Strong Funds
	from 1993 to 1996.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Walter C. O&#146;Connor</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">39</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1996</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director (Municipal Tax-Exempt Fund Management) of MLIM since
	1997; Vice President of MLIM from 1993 to 1997; Assistant Vice
	President of MLIM from 1991 to 1997.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Roberto W. Roffo</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">35</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1992</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice President of MLIM since 1996 and a Portfolio Manager
	thereof since 1992.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center">A-4

<!-- PAGEBREAK -->
<P><HR noshade><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="33%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>AZ</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>CA Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>FL</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MI</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>NJ</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>NY Ins.</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="2"><FONT size="2"><B>Name and Biography*</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Age</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Office</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund II</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fund</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap colspan="2"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Theodore R. Jaeckel, Jr.&nbsp;</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">41</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1997</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Director (Municipal Tax-Exempt Fund Management) of MLIM since
	1997; Vice President of MLIM from 1991 to 1997.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	William Bock</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice President of MLIM since 1989.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Fred K. Stuebe</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">50</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1995</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice President of MLIM since 1989.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	President</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	Alice A. Pellegrino</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">41</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Secretary</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Vice President of MLIM since 1999; Attorney associated with MLIM
	since 1997; Associate with Kirkpatrick&nbsp;&#38; Lockhart LLP
	from 1992 to 1997.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;*&nbsp;</TD>
	<TD align="left">
	The address of each officer is 800&nbsp;Scudders Mill Road,
	Plainsboro, New Jersey 08536.</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>**&nbsp;</TD>
	<TD align="left">
	Mr.&nbsp;Glenn was elected President of each Fund in 1999. Prior
	to that he served as Executive Vice President of each Fund.</TD>
</TR>

</TABLE>

<P align="center">A-5

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="center"><B>CHARTER OF THE AUDIT COMMITTEE</B>

<DIV align="center">
<B>OF THE BOARD OF DIRECTORS/ TRUSTEES</B>
</DIV>

<DIV align="center">
<B>FOR EXCHANGE LISTED FUNDS</B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Although each investment company audit committee also serves as
a nominating committee, the following charter pertains only to
each audit and nominating committee&#146;s duties as an audit
committee. The Board of Directors/ Trustees of each investment
company listed on Appendix&nbsp;A hereto, has adopted the
following audit committee charter:

<P align="left"><B>I.&nbsp;&nbsp;Composition of the Audit Committee</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Audit Committee shall be composed of at least three
Directors/ Trustees:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(a)&nbsp; each of whom shall not be an &#147;interested
	person&#148; of the Fund, as defined in Section&nbsp;2(a)(19) of
	the Investment Company Act of 1940, as amended;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(b)&nbsp; each of whom shall not have any relationship to the
	Fund that may interfere with the exercise of their independence
	from Fund management and the Fund;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(c)&nbsp; each of whom shall otherwise satisfy the applicable
	independence requirements for any stock exchange or market
	quotation system on which Fund shares are listed or quoted;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(d)&nbsp; each of whom shall be financially literate, as such
	qualification is interpreted by the Board of Directors/ Trustees
	in its business judgment, or shall become financially literate
	within a reasonable period of time after his or her appointment
	to the Audit Committee; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(e)&nbsp; at least one of whom shall have accounting or related
	financial management expertise as the Board of Directors/
	Trustees interprets such qualification in its business judgment.</TD>
</TR>

</TABLE>

<P align="left"><B>II.&nbsp;&nbsp;Purposes of the Audit Committee</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purposes of the Audit Committee are to assist the Board of
Directors/ Trustees:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(a)&nbsp; in its oversight of the Fund&#146;s accounting and
	financial reporting policies and practices, the Fund&#146;s
	internal audit controls and procedures and, as appropriate, the
	internal audit controls and procedures of certain of the
	Fund&#146;s service providers;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(b)&nbsp; in its oversight of the Fund&#146;s financial
	statements and the independent audit thereof; and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(c)&nbsp; in acting as a liaison between the Fund&#146;s
	independent accountants and the Board of Directors/Trustees.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The function of the Audit Committee is oversight. Fund
management is responsible for maintaining appropriate systems
for accounting. The independent accountants of the Fund are
responsible for conducting a proper audit of the Fund&#146;s
financial statements.

<P align="center">B-1

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="left"><B>III.&nbsp;&nbsp;Responsibilities and Duties of the Audit
Committee</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The policies and procedures of the Audit Committee shall remain
flexible to facilitate its ability to react to changing
conditions and to generally discharge its functions. The
following listed responsibilities describe areas of attention in
broad terms.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To carry out its purposes, the Audit Committee shall have the
following responsibilities and duties:
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(a)&nbsp; to recommend the selection, retention or termination
	of the Fund&#146;s independent accountants based on an
	evaluation of their independence and the nature and performance
	of audit services and other services;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(b)&nbsp; to ensure that the independent accountants for the
	Fund submit on a periodic basis to the Audit Committee a formal
	written statement delineating all relationships between such
	independent accountants and the Fund, consistent with
	Independence Standards Board Standard No.&nbsp;1, and actively
	engage in a dialogue with the independent accountants for the
	Fund with respect to any disclosed relationships or services
	that may impact the objectivity and independence of such
	independent accountants and, if deemed appropriate by the Audit
	Committee, to recommend that the Board of Directors/ Trustees
	take appropriate action in response to the report of such
	independent accountants to satisfy itself of the independence of
	such independent accountants;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(c)&nbsp; to receive specific representations from the
	independent accountants with respect to their independence and
	to consider whether the provision of any disclosed non-audit
	services by the independent accountants is compatible with
	maintaining the independence of those accountants;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(d)&nbsp; to review the fees charged by independent accountants
	for audit and other services;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(e)&nbsp; to review with the independent accountants
	arrangements for annual audits and special audits and the scope
	thereof;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(f)&nbsp; to discuss with the independent accountants those
	matters required by SAS No.&nbsp;61 and SAS No.&nbsp;90 relating
	to the Fund&#146;s financial statements, including, without
	limitation, any adjustment to such financial statements
	recommended by such independent accountants, or any other
	results of any audit;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(g)&nbsp; to consider with the independent accountants their
	comments with respect to the quality and adequacy of the
	Fund&#146;s accounting and financial reporting policies,
	practices and internal controls and management&#146;s responses
	thereto, including, without limitation, the effect on the Fund
	of any recommendation of changes in accounting principles or
	practices by management or the independent accountants;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(h)&nbsp; to report to the Board of Directors/ Trustees
	regularly with respect to the Audit Committee&#146;s activities
	and to make any recommendations it believes necessary or
	appropriate with respect to the Fund&#146;s accounting and
	financial reporting policies, practices and the Fund&#146;s
	internal controls;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(i)&nbsp; to review and reassess the adequacy of this Charter on
	an annual basis and recommend any changes to the Board of
	Directors/ Trustees;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(j)&nbsp; to review legal and regulatory matters presented by
	counsel and the independent accountants for the Fund that may
	have a material impact on the Fund&#146;s financial statements;</TD>
</TR>

</TABLE>

<P align="center">B-2

<!-- PAGEBREAK -->
<P><HR noshade><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(k)&nbsp; to cause to be prepared and to review and submit any
	report, including any recommendation of the Audit Committee,
	required to be included in the Fund&#146;s annual proxy
	statement by the rules of the Securities and Exchange Commission;</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(l)&nbsp; to assist the Fund, if necessary, in preparing any
	written affirmation or written certification required to be
	filed with any stock exchange on which Fund shares are listed;
	and</TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(m)&nbsp; to perform such other functions consistent with this
	Charter, the Fund&#146;s By-laws and governing law, as the Audit
	Committee or the Board of Directors/ Trustees deems necessary or
	appropriate.</TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In fulfilling their responsibilities hereunder, it is recognized
that members of the Audit Committee are not full-time employees
of the Fund and are not, and do not represent themselves to be,
accountants or auditors by profession or experts in the field of
accounting or auditing. As such, it is not the duty or
responsibility of the Audit Committee or its members to conduct
&#147;field work&#148; or other types of auditing or accounting
reviews or procedures, and each member of the Audit Committee
shall be entitled to rely on (i)&nbsp;the integrity of those
persons and organizations inside and outside the Fund from which
the Audit Committee receives information and (ii)&nbsp;the
accuracy of the financial and other information provided to the
Audit Committee by such persons or organizations absent actual
knowledge to the contrary (which actual knowledge shall be
promptly reported to the Board of Directors/ Trustees).

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The independent accountants for the Fund are ultimately
accountable to the Board of Directors/ Trustees and the Audit
Committee. The Board of Directors/ Trustees and the Audit
Committee have the ultimate authority and responsibility to
select, evaluate and, where appropriate, replace the independent
accountants for the Fund (or to nominate the independent
accountants to be proposed for shareholder approval in the proxy
statement).

<P align="left"><B>IV.&nbsp;&nbsp;Meetings</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Audit Committee shall meet at least once annually with the
independent accountants (outside the presence of Fund
management) and at least once annually with the representatives
of Fund management responsible for the financial and accounting
operations of the Fund. The Audit Committee shall hold special
meetings at such times as the Audit Committee believes
appropriate. Members of the Audit Committee may participate in a
meeting of the Audit Committee by means of conference call or
similar communications equipment by means of which all persons
participating in such meeting can hear each other.

<P align="left"><B>V.&nbsp;&nbsp;Outside Resources and Assistance from Fund
Management</B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The appropriate officers of the Fund shall provide or arrange to
provide such information, data and services as the Audit
Committee may request. The Audit Committee shall have the power
and authority to take all action it believes necessary or
appropriate to discharge its responsibilities, including the
authority to retain at the expense of the Fund their own counsel
and other experts and consultants whose expertise would be
considered helpful to the Audit Committee.

<P align="left">
Dated May&nbsp;23, 2000 <BR>
 Revised March&nbsp;13, 2001

<P align="center">B-3

<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="right"><B>Appendix A</B>

<P align="left"><B>M<FONT size="1">UNI</FONT>E<FONT size="1">NHANCED
</FONT>F<FONT size="1">UND, </FONT>I<FONT size="1">NC.</FONT></B>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>H<FONT size="1">OLDINGS
</FONT>C<FONT size="1">ALIFORNIA </FONT>I<FONT size="1">NSURED
</FONT>F<FONT size="1">UND, </FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>F<FONT size="1">UND, </FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>A<FONT size="1">RIZONA </FONT>F<FONT size="1">UND,
</FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>C<FONT size="1">ALIFORNIA </FONT>F<FONT size="1">UND,
</FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>C<FONT size="1">ALIFORNIA </FONT>I<FONT size="1">NSURED
</FONT>F<FONT size="1">UND, </FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>C<FONT size="1">ALIFORNIA </FONT>I<FONT size="1">NSURED
</FONT>F<FONT size="1">UND&nbsp;</FONT>II,
I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>F<FONT size="1">LORIDA
</FONT>F<FONT size="1">UND</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>M<FONT size="1">ICHIGAN </FONT>F<FONT size="1">UND,
</FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>N<FONT size="1">EW </FONT>J<FONT size="1">ERSEY
</FONT>F<FONT size="1">UND, </FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>N<FONT size="1">EW </FONT>Y<FONT size="1">ORK
</FONT>I<FONT size="1">NSURED </FONT>F<FONT size="1">UND,
</FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>Q<FONT size="1">UALITY </FONT>F<FONT size="1">UND,
</FONT>I<FONT size="1">NC.</FONT></B>
</DIV>

<DIV align="left">
<B>M<FONT size="1">UNI</FONT>Y<FONT size="1">IELD
</FONT>Q<FONT size="1">UALITY
</FONT>F<FONT size="1">UND&nbsp;</FONT>II,
I<FONT size="1">NC.</FONT></B>
</DIV>

<P align="center">B-4
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD ARIZONA FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield Arizona Fund, Inc. (the
&#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the annual
meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD ARIZONA FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield Arizona
Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001
at the annual meeting of stockholders of the Fund to be held on April&nbsp;25, 2001
or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield California Fund, Inc.
(the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the
annual meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield
California Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on
February&nbsp;28, 2001 at the annual meeting of stockholders of the Fund to be held
on April&nbsp;25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA INSURED FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield California Insured Fund,
Inc. (the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the
annual meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA INSURED FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield
California Insured Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on
February&nbsp;28, 2001 at the annual meeting of stockholders of the Fund to be held
on April&nbsp;25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA INSURED FUND II, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield California Insured Fund
II, Inc. (the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at
the annual meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or
any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD CALIFORNIA INSURED FUND II, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield
California Insured Fund II, Inc. (the &#147;Fund&#148;) held of record by the undersigned
on February&nbsp;28, 2001 at the annual meeting of stockholders of the Fund to be
held on April&nbsp;25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD MICHIGAN FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield Michigan Fund, Inc. (the
&#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the annual
meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD MICHIGAN FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield
Michigan Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on February
28, 2001 at the annual meeting of stockholders of the Fund to be held on April
25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>




<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD NEW JERSEY FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield New Jersey Fund, Inc.
(the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the
annual meeting of stockholders of the Fund to be held on April&nbsp;28, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD NEW JERSEY FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield New
Jersey Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on February
28, 2001 at the annual meeting of stockholders of the Fund to be held on April
25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON STOCK</B>

<P align="center"><B>MUNIYIELD NEW YORK INSURED FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Stock of MuniYield New York Insured Fund,
Inc. (the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the
annual meeting of stockholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED STOCK</B>

<P align="center"><B>MUNIYIELD NEW YORK INSURED FUND, INC.<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Directors</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Stock of MuniYield New
York Insured Fund, Inc. (the &#147;Fund&#148;) held of record by the undersigned on
February&nbsp;28, 2001 at the annual meeting of stockholders of the Fund to be held
on April&nbsp;25, 2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned stockholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF DIRECTORS
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Stock, in the same proportion as votes cast by holders of Auction
Market Preferred Stock, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>COMMON SHARES</B>

<P align="center"><B>MUNIYIELD FLORIDA FUND<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Trustees</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Common Shares of MuniYield Florida Fund (the
&#147;Fund&#148;) held of record by the undersigned on February&nbsp;28, 2001 at the annual
meeting of shareholders of the Fund to be held on April&nbsp;25, 2001 or any
adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned shareholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF TRUSTEES
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name appears hereon. When stock is held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR></FONT>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P align="right"><B>AUCTION MARKET<BR>
PREFERRED SHARES</B>

<P align="center"><B>MUNIYIELD FLORIDA FUND<BR>
P.O. Box 9011<BR>
Princeton, New Jersey 08543-9011</B>

<P align="center"><B>PROXY</B>

<P align="center"><B>This proxy is solicited on behalf of the Board of Trustees</B>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Donald C. Burke, Terry K. Glenn and Alice
A. Pellegrino as proxies, each with the power to appoint his or her substitute,
and hereby authorizes each of them to represent and to vote, as designated on
the reverse hereof, all the Auction Market Preferred Shares of MuniYield
Florida Fund (the &#147;Fund&#148;) held of record by the undersigned on February&nbsp;28,
2001 at the annual meeting of shareholders of the Fund to be held on April&nbsp;25,
2001 or any adjournment thereof.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy when properly executed will be voted in the manner
directed herein by the undersigned shareholder. If no direction
is made, this proxy will be voted FOR Proposal 1.</B></TD>
</TR>
</TABLE>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing and dating the reverse side of this card, you authorize the
proxies to vote Proposal 1 as marked, or if not marked, to vote &#147;FOR&#148; Proposal
1, and to use their discretion to vote for any other matter as may properly
come before the meeting or any adjournment thereof. If you do not intend to
personally attend the meeting, please complete and return this card at once in
the enclosed envelope.

<P align="right">(Continued and to be signed on the reverse side)

<P align="center">&nbsp;
<!-- PAGEBREAK -->
<P><HR noshade><P>



<P>Please mark boxes <IMG src="y46430bullet3.gif"> or [X] in blue or black ink.

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="top">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="21%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="28%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="top">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
ELECTION OF TRUSTEES
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>FOR </B>all nominees listed below<BR>
(except as marked to the contrary below)
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2"><B>WITHHOLD AUTHORITY</B><BR>
to vote for all nominees listed below<BR>
</FONT></TD>
        <TD></TD>
        <TD align="left" valign="bottom"><FONT size="2">[ ]</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><B><I>(INSTRUCTION: To withhold authority to vote for any individual nominee, strike
a line through the nominee&#146;s name in the list below.)</I></B><BR>

<B>James H. Bodurtha, Terry K. Glenn, Herbert I. London, Joseph L. May, Andr&#233; F.
Perold and Roberta Cooper Ramo</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">2.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">In the discretion of such proxies, upon such other business as may
properly come before the meeting or any adjournment thereof.</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%"><FONT size="3">If the undersigned is a broker-dealer, it
hereby instructs the proxies, pursuant to Rule 452 of the New York
Stock Exchange, to vote any uninstructed Auction Market Preferred
Shares, in the same proportion as votes cast by holders of Auction
Market Preferred Shares, who have responded to this proxy
solicitation.</FONT></TD>
        <TD width="2">&nbsp;</TD>
        <TD width="50">&nbsp;</TD>
</TR>
</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="48%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Please sign exactly as name
appears hereon. When shares are held by joint tenants,
both should sign. When signing as attorney or as executor, administrator, trustee
or guardian, please give full title as such. If a corporation, please sign in full
corporate name by president or other authorized officer. If a partnership, please
sign in partnership name by authorized person.</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">Dated: ____________________________, 2001<BR>
</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</FONT></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%"><FONT size="3">X __________________________________<BR>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</FONT></TD>
</TR>
</TABLE>


<P><B>Sign, Date and Return the Proxy Card Promptly Using the Enclosed Envelope.</B>


<P align="center">&nbsp;

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