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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950123-01-002489.txt : 20010322
<SEC-HEADER>0000950123-01-002489.hdr.sgml : 20010322
ACCESSION NUMBER:		0000950123-01-002489
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20010425
FILED AS OF DATE:		20010321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD FLORIDA INSURED FUND /NJ/
		CENTRAL INDEX KEY:			0000891188
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-07156
		FILM NUMBER:		1574386

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

	MAIL ADDRESS:	
		STREET 1:		P O BOX 9011
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

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

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD MICHIGAN INSURED FUND INC
		CENTRAL INDEX KEY:			0000890393
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-07080
		FILM NUMBER:		1574387

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD NEW JERSEY INSURED FUND INC
		CENTRAL INDEX KEY:			0000891037
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223196059
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-07138
		FILM NUMBER:		1574388

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

	MAIL ADDRESS:	
		STREET 1:		P O BOX 9011
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08543-9011

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

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIYIELD PENNSYLVANIA FUND
		CENTRAL INDEX KEY:			0000891038
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				223199516
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		
		SEC FILE NUMBER:	811-07136
		FILM NUMBER:		1574389

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08543-9011
		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
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>y46120def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>

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

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

</FONT></DIV>

<DIV align="center">
 <FONT size="2">As filed with the Securities and Exchange
Commission on March&nbsp;21, 2001</FONT>
</DIV>

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

</FONT></DIV>

<P align="center">
<B>SCHEDULE 14A</B>

<DIV align="center">
<B>(Rule&nbsp;14a-101)</B>
</DIV>

<DIV align="center">
<B>INFORMATION REQUIRED IN PROXY STATEMENT</B>
</DIV>

<DIV align="center">
<B>SCHEDULE 14A INFORMATION</B>
</DIV>

<DIV align="center">
<B>PROXY STATEMENT PURSUANT TO SECTION&nbsp;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="y46120pi5-178.gif"></FONT>

<DIV align="left">
<FONT size="2">Filed by a party other than the Registrant&nbsp;
<IMG src="y46120pi5-110.gif"></FONT>
</DIV>

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

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

</FONT></DIV>

<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="y46120pi5-110.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="y46120pi5-110.gif">&nbsp;&nbsp;Confidential, for
	Use of the Commission Only (as permitted by
	Rule&nbsp;14a-6(e)(2))</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top"><FONT size="2">
	&nbsp;&nbsp;<IMG src="y46120pi5-178.gif">&nbsp;&nbsp;Definitive Proxy
	Statement</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="y46120pi5-110.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="y46120pi5-110.gif">&nbsp;&nbsp;Soliciting
	Material Pursuant to Rule&nbsp;14a-11(c) or Rule&nbsp;14a-12</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

<P align="center">
MUNIYIELD FLORIDA INSURED FUND

<DIV align="center">
MUNIYIELD PENNSYLVANIA INSURED FUND
</DIV>

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

<DIV align="center">
MUNIYIELD MICHIGAN 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">
SAME AS ABOVE

<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>

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

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

<TR valign="top">
	<TD><IMG src="y46120pi5-178.gif"></TD>
	<TD align="left">
	<FONT size="2">No fee required.</FONT></TD>
</TR>

</TABLE>

<DIV align="left">
<IMG src="y46120pi5-110.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%" border="0" cellpadding="0" cellspacing="0">

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

<TR valign="top">
	<TD><IMG src="y46120pi5-110.gif"></TD>
	<TD align="left">
	<FONT size="2">Fee paid previously with preliminary
	materials:</FONT></TD>
</TR>

</TABLE>

<DIV align="right">
<HR size="1" width="97%" align="right" 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><IMG src="y46120pi5-110.gif"></TD>
	<TD align="left">
	<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 FLORIDA INSURED FUND</B>

<DIV align="center">
<B>MUNIYIELD PENNSYLVANIA INSURED FUND</B>
</DIV>

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

<DIV align="center">
<B>MUNIYIELD MICHIGAN 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>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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 in Exhibit&nbsp;A hereto for the
following purposes:

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

</FONT></DIV>
<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; To elect members of the Board of Directors/ Trustees
	of each Fund to serve for the ensuing year;</TD>
</TR>

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

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors/ Trustees (each, a &#147;Board&#148;) 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.

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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 offices of the Fund, 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 the respective Fund.

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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.

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

</FONT></DIV>
<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">
	ALICE A. PELLEGRINO</TD>
</TR>

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

</TABLE>

<P align="left">
Plainsboro, New Jersey

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

</FONT></DIV>

<DIV align="left">
Dated: March&nbsp;21, 2001
</DIV>

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

</FONT></DIV>
<!-- PAGEBREAK -->
<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 FLORIDA INSURED FUND</B>

<DIV align="center">
<B>MUNIYIELD PENNSYLVANIA INSURED FUND</B>
</DIV>

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

<DIV align="center">
<B>MUNIYIELD MICHIGAN 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>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

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

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

</FONT></DIV>

<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;22, 2001.

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

</FONT></DIV>

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

</FONT></DIV>

<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;

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

</FONT></DIV>

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

</FONT></DIV>

<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 applicable Fund at that
Fund&#146;s address indicated above or by voting in person at
the Meeting.

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

</FONT></DIV>

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

</FONT></DIV>

<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 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,

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

</FONT></DIV>

<P align="center">1
<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV align="left">
as of the Record Date, no person is the beneficial owner of more
than five percent of its outstanding Shares or AMPS at such date.
</DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of each Fund knows of no business other than that
mentioned in Item 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.

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

</FONT></DIV>

<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 and in Exhibit&nbsp;A as Board members to be elected by
	holders of AMPS; and</TD>
</TR>

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

<TR><TD><FONT size="1">

</FONT></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&nbsp;(4)
	persons designated in Exhibit&nbsp;A as Board members to be
	elected by holders of Shares and AMPS.</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></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>

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

</FONT></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<SUP>(1)</SUP></B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address of Nominee</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">
	M. Colyer Crum<SUP>(1)(2)<BR>
	</SUP>&nbsp;&nbsp;104 Westcliff Road<BR>
	&nbsp;&nbsp;Weston, Massachusetts 02493-1410</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">68</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Currently James&nbsp;R. Williston Professor of Investment
	Management Emeritus, Harvard Business School; James&nbsp;R.
	Williston Professor of Investment Management, Harvard Business
	School from 1971 to 1996; Director of Cambridge Bancorp.</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">
	Laurie Simon Hodrick<SUP>(l)(2)<BR>
	</SUP>&nbsp;&nbsp;809 Uris Hall<BR>
	&nbsp;&nbsp;3022 Broadway<BR>
	&nbsp;&nbsp;New York, New York 10027</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">38</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Professor of Finance and Economics, Graduate School of Business,
	Columbia University since 1998; Associate Professor of Finance
	and Economics, Graduate School of Business, Columbia University
	from 1996 to 1998; Associate Professor of Finance, J.L. Kellogg
	Graduate School of Management, Northwestern University from 1992
	to 1996.</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

<P align="center">2

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

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

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

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

</FONT></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<SUP>(1)</SUP></B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Name and Address of Nominee</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">
	Terry K. Glenn<SUP>(l)</SUP>*<BR>
	&nbsp;&nbsp;P.O. Box 9011<BR>
	&nbsp;&nbsp;Princeton, New Jersey 08543-9011</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 Merrill Lynch Investment Managers,
	L.P. (&#147;MLIM&#148;) and Fund Asset Management, L.P.
	(&#147;FAM&#148;) (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">
	Stephen B. Swensrud<SUP>(l)(2)<BR>
	</SUP>&nbsp;&nbsp;88 Broad Street, 2nd Floor<BR>
	&nbsp;&nbsp;Boston, Massachusetts 02110</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">67</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Chairman of Fernwood Advisors (investment adviser) since 1996;
	Principal of Fernwood Associates (financial consultants) since
	1975; Chairman of R.P.P. Corporation (manufacturing) since 1978;
	Director of International Mobile Communications, Inc.
	(telecommunications) since 1998.</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">
	J. Thomas Touchton<SUP>(l)(2)<BR>
	</SUP>&nbsp;&nbsp;Suite&nbsp;3405<BR>
	&nbsp;&nbsp;One Tampa City Center<BR>
	&nbsp;&nbsp;201 North Franklin Street<BR>
	&nbsp;&nbsp;Tampa, Florida 33602</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">
	Managing Partner of The Witt-Touchton Company and its
	predecessor, The Witt Co. (a private investment partnership)
	since 1972; Trustee Emeritus of Washington and Lee University;
	Director of TECO Energy, Inc. (an electric utility holding
	company).</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">
	Fred G. Weiss<SUP>(l)(2)<BR>
	</SUP>&nbsp;&nbsp;16450 Maddalena Place<BR>
	&nbsp;&nbsp;Delray Beach, Florida 33446</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">59</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Managing Director of FGW Associates since 1997; Vice President,
	Planning, Investment and Development of Warner Lambert Co. from
	1979 to 1997; Director of Watson Pharmaceutical, Inc. (a
	pharmaceutical company) since 2000; Director of the
	Michael&nbsp;J. Fox Foundation for Parkinson&#146;s Research.</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

<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><TD><FONT size="1">

</FONT></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&#148; in Exhibit&nbsp;
	A.</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</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 and Nominating 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>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<I>Committee Report.</I> The Board of each Fund has a standing
Audit and Nominating Committee (the &#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 New York Stock Exchange listing standards. Currently,
Messrs.&nbsp;Crum, Swensrud, Touchton and Weiss and
Ms.&nbsp;Hodrick are members of the Committee. The principal
responsibilities of the Committee are to: (i)&nbsp;recommend to
the

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

</FONT></DIV>

<P align="center">3

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

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

</FONT></DIV>

<DIV align="left">
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 with
respect 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 thereto 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, a copy of which 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 LLP (&#147;D&#38;T&#148;), independent auditors for
MuniYield Florida Insured Fund, MuniYield Pennsylvania Insured
Fund and MuniYield New Jersey Insured Fund, Inc. and Ernst &#38;
Young LLP (&#147;E&#38;Y&#148;), independent auditors for
MuniYield Michigan Insured Fund, Inc. and (b)&nbsp;discussed
certain matters required to be discussed by Statements on
Auditing Standards No.&nbsp;61 with D&#38;T and E&#38;Y. The
Committee has considered whether the provision of non-audit
services by the Funds&#146; independent auditors is compatible
with maintaining the independence of those auditors.
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At its meeting held on February&nbsp;15, 2001, the Committee
reviewed and discussed the audit of each Fund&#146;s financial
statements with Fund management and D&#38;T and E&#38;Y. Had any
material concerns arisen during the course of the audit and the
preparation of the audited financial statements mailed to
Stockholders and included in each Fund&#146;s Annual Report, the
Committee would have been notified by Fund management or D&#38;T
and E&#38;Y. The Committee received no such notifications.
Beginning with each Fund&#146;s fiscal year ending
October&nbsp;31, 2001, the Committee will recommend to the Board
whether or not each Fund&#146;s audited financial statements
should be included in that Fund&#146;s Annual Report to
Stockholders.

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the above, the 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.

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

</FONT></DIV>

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

</FONT></DIV>

<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, the total number of meetings of the Committee held
during the period for which he or she served.

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

</FONT></DIV>

<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&nbsp;3, 4 and 5 with the Securities and
Exchange Commission (&#147;SEC&#148;) and the New York Stock
Exchange. 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="center">4

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

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

</FONT></DIV>

<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.e., 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 the Fund&#146;s most recent
fiscal year, except that (i)&nbsp;Stephen&nbsp;B. Swensrud
inadvertently made a late Form&nbsp;3 filing reporting his
Initial Statement of Beneficial Ownership of each of the Funds,
(ii)&nbsp;J.&nbsp;Thomas Touchton inadvertently made a late
Form&nbsp;4 filing reporting his Statement of Changes in
Beneficial Ownership for MuniYield Florida Insured Fund, and
(iii)&nbsp;Michael&nbsp;G. Clark inadvertently made a late
Form&nbsp;4 filing reporting his Statement of Changes in
Beneficial Ownership for each of the Funds.

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

</FONT></DIV>

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

</FONT></DIV>

<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 the Fund within the
meaning of Section&nbsp;2(a)(19) of the Investment Company Act
because of the positions he holds or has held with FAM and its
affiliates and/or due to his ownership of securities issued by
Merrill Lynch &#38; Co., Inc. (&#147;ML &#38; Co.&#148;).
Mr.&nbsp;Glenn is the President of each Fund.

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compensation of Board Members.</I> FAM, the investment
adviser of each Fund, pays all compensation to all officers of
the Fund and all Board members of the Fund who are affiliated
with ML &#38; Co. or its affiliates. Each Fund pays each Board
member not affiliated with FAM (each, a &#147;non-affiliated
Board member&#148;) an annual fee plus a fee for each meeting
attended, and each Fund also pays each member of its Committee,
which consists of all of the non-affiliated Board members, an
annual fee plus a fee for each meeting attended, together with
such non-affiliated Board member&#146;s out-of-pocket expenses
relating to attendance at such meetings. Information with
respect to fees and expenses paid to the non-affiliated
Directors for each Fund&#146;s most recently completed fiscal
year is set forth in Exhibit&nbsp;A.

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

</FONT></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 was the beneficial owner of Capital Stock of the Funds
except as set forth in the table below:

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

</FONT></DIV>

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

<TR>
	<TD width="40%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="40%"><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></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>No. of Shares</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><FONT size="2"><B>Nominee</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap><FONT size="2"><B>Fund and Class of Capital Stock</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Held*</B></FONT></TD>
</TR>

<TR>
	<TD align="center" nowrap><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>
</TR>

<TR>
	<TD 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 align="left" valign="top"><FONT size="2">
	MuniYield Pennsylvania Insured Fund&nbsp;&#151; Common Shares</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">81,643</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">
	J. Thomas Touchton**</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	MuniYield Florida Insured Fund&nbsp;&#151; Common Shares</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">40,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp;*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Rounded to the nearest share.</FONT></TD>
</TR>

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

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">**&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Touchton&#146;s shares are held in the
	name of The Witt-Touchton Company, an investment partnership, of
	which Mr.&nbsp;Touchton is Managing Partner.</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="left">&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
the Fund outstanding at such date and owned none of the AMPS
outstanding at such

<P align="center">5

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<P><HR noshade><P>

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

</FONT></DIV>

<DIV align="left">
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 ML &#38; Co.
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

<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 the Funds in proportion to their
respective net assets. The Funds will reimburse banks, brokers
and others for their reasonable expenses in forwarding proxy
solicitation material to the beneficial owners of the shares of
the Funds.

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

</FONT></DIV>

<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 Fund. Each Fund has retained Shareholder Communications
Corporation, 17&nbsp;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 which are
estimated to be $500 per fund.

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<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.

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

</FONT></DIV>

<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 Maryland corporations,
(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 Massachusetts business trusts,
(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 present 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 present 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.

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

</FONT></DIV>

<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, 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-

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

</FONT></DIV>

<P align="center">6

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

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

</FONT></DIV>

<DIV align="left">
dealers as to which such authority has been granted in their
tabulation of the total number of votes present for purposes of
determining whether the necessary quorum of Stockholders exists.
Proxies that are returned to the 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 Fund 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
Maryland corporations; however, abstentions and broker non-votes
will have the same effect as a vote against Item&nbsp;1 in the
case of Massachusetts business trusts.
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

<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 meeting 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.

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<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 the Funds&#146; annual financial statements and the review of
financial statements included in the Funds&#146; reports to
Stockholders; (ii)&nbsp;financial information systems design and
implementation services provided to the 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
the 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.

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

</FONT></DIV>

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

</FONT></DIV>

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

<TR>
	<TD width="30%"><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="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="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="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="6%"><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 colspan="3"></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>Independent</B></FONT></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 align="center" nowrap colspan="3"><FONT size="2"><B>All</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>Auditors</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>
	<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 Florida Insured 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">D&#38;T</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</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><TR><TD><TR><TD><TR><TD>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
	MuniYield Pennsylvania Insured<BR>
	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">D&#38;T</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">27,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,437,300</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</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><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 Insured Fund, Inc.&nbsp;</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">D&#38;T</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,421,300</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">*</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><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 Insured<BR>
	Fund, Inc.&nbsp;</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">E&#38;Y</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">36,330</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,520</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>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR valign="top">
	<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/MLIM.</FONT></TD>
</TR>

</TABLE>

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

</FONT></DIV>

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

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

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

</FONT></DIV>

<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.

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

</FONT></DIV>

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

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Stockholder of a Fund 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;20, 2002.
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 Scudders Mill Road, Plainsboro,
New&nbsp;Jersey 08536) by February&nbsp;3, 2002.

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

</FONT></DIV>
<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 Board of Directors/ Trustees</TD>
</TR>

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

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

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

</TABLE>

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

</FONT></DIV>

<P align="left">
Dated: March&nbsp;21, 2001

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

</FONT></DIV>

<P align="center">8
<!-- PAGEBREAK -->
<P><HR noshade><P>

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

</FONT></DIV>

<P align="center">(This page intentionally left blank)

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

</FONT></DIV>

<DIV>&nbsp;</DIV>

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

<P align="right"><B>EXHIBIT 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="40%"><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="5%"><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 Florida Insured 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">MY FL 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">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">9:00&nbsp;a.m.</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 Pennsylvania Insured 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">MY PA 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">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">9:20&nbsp;a.m.</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 Insured Fund,&nbsp; Inc.&nbsp;</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">MY NJ 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">9:40&nbsp;a.m.</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 Insured Fund, Inc.&nbsp;</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">MY MI 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">10:00&nbsp;a.m.</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

<TR>
	<TD width="62%"><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="11%"><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">
	MY FL 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">8,437,358</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">2,400</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">
	MY PA 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">11,434,032</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">3,520</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">
	MY NJ 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">8,596,287</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">2,240</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">
	MY MI 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">18,155,932</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>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

<TR>
	<TD width="42%"><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="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="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="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="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>
</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>Crum</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Hodrick</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>Swensrud</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Touchton</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Weiss</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">
	MY FL 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">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>
	<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">2000</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">1998</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">
	MY PA 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">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>
	<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">2000</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">1998</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">
	MY NJ 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">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>
	<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">2000</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">1998</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">
	MY MI 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">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>
	<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">2000</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">1998</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

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

<TR>
	<TD width="25%"><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="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="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="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="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="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="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><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="11"></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="11"><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="11"><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>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>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 ($)</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Fee ($)**</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Expenses ($)&#134;</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>
	<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">
	MY FL 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">7</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">2,500</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">250</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</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">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">250</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">33,004</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">
	MY PA 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">6</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">2,500</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">250</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</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">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">250</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">33,032</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">
	MY NJ 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">7</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">2,500</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">250</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</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">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">250</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">33,594</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">
	MY MI 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">8</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">2,500</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">250</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</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">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">250</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">32,432</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp;*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes meetings held via teleconferencing
	equipment.</FONT></TD>
</TR>

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

<TR valign="top">
	<TD><FONT size="2">**&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The fee is payable for each meeting attended in
	person. A fee is not paid for telephonic meetings.</FONT></TD>
</TR>

</TABLE>
<P>

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

</FONT></DIV>

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

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp;&#134;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">As of October&nbsp;30, 2000 the Committee Per
	Meeting fee was adjusted to the amount set forth above.</FONT></TD>
</TR>

</TABLE>

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

</FONT></DIV>

<P align="center">A-1
<!-- PAGEBREAK -->
<P><HR noshade><P>

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

<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="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="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="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>
	<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>
</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>Crum</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Hodrick</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Swensrud</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Touchton</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>Weiss</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">
	MY FL 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">4,500</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">4,500</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">2,750</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">4,500</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">4,500</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">
	MY PA 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">4,500</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">4,500</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">2,750</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">4,500</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">4,500</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">
	MY NJ 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">4,500</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">4,500</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">2,750</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">4,500</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">4,500</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">
	MY MI 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">4,500</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">4,500</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">2,750</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">4,500</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">4,500</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><FONT size="2">&#134;&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">No pension or retirement benefits are accrued as
	part of Fund expenses.</FONT></TD>
</TR>

</TABLE>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
Set forth in the table below is information regarding the
aggregate compensation paid by all registered investment
companies advised by FAM and its affiliate, MLIM (&#147;FAM/
MLIM Advised Funds&#148;), to the non-affiliated Board members
for the year ended December&nbsp;31, 2000.

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

</FONT></DIV>

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

</FONT></DIV>

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="66%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="15%"><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 Fund and Other</B></FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>FAM/MLAM 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">
	M. Colyer Crum</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">170,142</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">
	Laurie Simon Hodrick</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">156,892</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">
	Stephen B. Swensrud</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">289,484</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">
	J. Thomas Touchton</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">168,350</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">
	Fred G. Weiss</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">156,892</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

</FONT></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">The Directors serve on the boards of FAM/ MLIM
	Advised Funds as follows: Mr.&nbsp; Crum (26&nbsp;registered
	investment companies consisting of 52&nbsp;portfolios);
	Ms.&nbsp;Hodrick (26&nbsp;registered investment companies
	consisting of 52&nbsp;portfolios); Mr.&nbsp;Swensrud
	(43&nbsp;registered investment companies consisting of
	90&nbsp;portfolios); Mr.&nbsp;Touchton (26&nbsp; registered
	investment companies consisting of 52&nbsp; portfolios); and
	Mr.&nbsp;Weiss (26&nbsp;registered investment companies
	consisting of 52&nbsp; portfolios).</FONT></TD>
</TR>

</TABLE>

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

</FONT></DIV>

<P align="center">A-2

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

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

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

</FONT></DIV>

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

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<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="7%"><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="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="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="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="21"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="21"><FONT size="2"><B>Officer Since</B></FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="21"><HR size="1" noshade></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="5"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MY</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MY</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MY</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MY</B></FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="5"></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>FL Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>PA Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>NJ Ins.</B></FONT></TD>
	<TD></TD>
	<TD align="center" nowrap colspan="3"><FONT size="2"><B>MI 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</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>
</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>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top"><FONT size="2">
	Executive Vice President of MLIM and FAM 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>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&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>
</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>
</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>
</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>
</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">
	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">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">
	First Vice President of MLIM and FAM since 2000 and Treasurer
	thereof since 1999; Senior Vice and Treasurer of Princeton
	Services since 1999; Vice President of FAMD since 1999; Senior
	Vice President of MLIM and FAM from 1999 to 2000; First Vice
	President of MLIM from 1997 to 1999; Vice President of MLIM from
	1990 to 1997; Director of Taxation of MLIM 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">
	Vice<BR>
	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">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>
</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 R. 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">64</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">1998</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>
	<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 and a Portfolio Manager of
	MLIM since 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><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>
</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">
	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">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 (Tax-Exempt Fund Management) of MLIM since 1997 and
	Vice President thereof 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>
</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">1995</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 and a Portfolio Manager of
	MLIM since 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><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>
</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>
</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 &#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>
</TR>

</TABLE>
</CENTER>

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

</FONT></DIV>

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

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

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp;*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The address of each officer is 800&nbsp;Scudders
	Mill Road, Plainsboro, New Jersey 08536.</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">**&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Glenn was elected President of each Fund
	in 1999. Prior to that he served as Executive Vice President of
	each Fund.</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="center">A-3

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

</FONT></DIV>

<P align="center">(This page intentionally left blank)

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

</FONT></DIV>

<DIV>&nbsp;</DIV>

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<P><HR noshade><P>

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

</FONT></DIV>

<P align="right"><B>EXHIBIT B</B>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors/Trustees of each investment company
listed on Appendix&nbsp;A hereto, has adopted the following
audit committee charter. 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:

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The audit committee (hereafter, the &#147;Audit Committee&#148;)
shall be composed of at least three Directors/Trustees:

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

</FONT></DIV>
<P>

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

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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 on which Fund
	shares are listed;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>
<P>

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

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

<TR><TD><FONT size="1">

</FONT></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, its internal audit
	controls and procedures and, as appropriate, the internal audit
	controls and procedures of certain of its service providers;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

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

</FONT></DIV>

<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.

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

</FONT></DIV>

<P align="center">B-1

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<P><HR noshade><P>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<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.

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>
<P>

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

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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, 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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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 and the scope of annual audits and special
	audits;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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 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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="center">B-2

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<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><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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><FONT size="1">

</FONT></TD></TR>

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

<TR><TD><FONT size="1">

</FONT></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>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

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

</FONT></DIV>

<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 within 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).

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

</FONT></DIV>

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

</FONT></DIV>

<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).

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<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.

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<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 appropriate to
discharge its responsibility, 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.

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">
Dated May&nbsp;23, 2000

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

</FONT></DIV>

<P align="center">B-3

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

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<P align="left">
MUNIHOLDINGS MICHIGAN INSURED FUND II, INC.

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

</FONT></DIV>

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

</FONT></DIV>

<DIV align="left">
MUNIYIELD FLORIDA INSURED FUND
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

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

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

</FONT></DIV>

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

</FONT></DIV>

<DIV align="left">
MUNIYIELD PENNSYLVANIA INSURED FUND
</DIV>

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

</FONT></DIV>

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

</FONT></DIV>

<DIV align="left">
THE S&#38;P 500 PROTECTED EQUITY FUND, INC.
</DIV>

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

</FONT></DIV>

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

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

<P align="center"><B>MUNIYIELD FLORIDA INSURED 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 Insured 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>&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.</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 [-] or [x] in blue or black ink.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE>
</CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>TERRY K. GLENN, STEPHEN B. SWENSRUD, J. THOMAS TOUCHTON AND FRED G. WEISS</TD>
</TR>
</TABLE>
<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>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated: ____________________________, 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _____________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _____________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

<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 INSURED 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 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 Shares of MuniYield Florida
Insured 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>&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.</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 [-] or [X] in blue or black ink.
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)
<BR>M. COLYER CRUM, TERRY K. GLENN, LAURIE SIMON HODRICK, STEPHEN B. SWENSRUD,
J. THOMAS TOUCHTON AND FRED G. WEISS</TD>
</TR>
</TABLE>
<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>If the undersigned is a broker-dealer, it hereby instructs the proxies,
pursuant to Rule&nbsp;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.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated: ____________________________ , 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _____________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _____________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

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



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

<P align="center"><B>MUNIYIELD PENNSYLVANIA INSURED 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 Pennsylvania Insured 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>&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.</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="center">&nbsp;

<p align="right">(Continued and to be signed on the reverse side)
<!-- PAGEBREAK -->
<P><HR noshade><P>

<P>PLEASE MARK BOXES [-] OR [X] IN BLUE OR BLACK INK.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>

<P>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, STRIKE A
LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)<BR>
TERRY K. GLENN, STEPHEN B. SWENSRUD, J. THOMAS TOUCHTON AND FRED G. WEISS

<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>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>DATED:____________________________, 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURE</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURE, IF HELD JOINTLY</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

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



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

<P align="center"><B>MUNIYIELD PENNSYLVANIA INSURED 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
Pennsylvania 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>&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.</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 [-] or [X] in blue or black ink.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, STRIKE A
LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)
<BR>M.&nbsp;COLYER CRUM, TERRY K. GLENN, LAURIE SIMON HODRICK, STEPHEN B. SWENSRUD, J.
THOMAS TOUCHTON AND FRED G. WEISS

<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>If the undersigned is a broker-dealer, it hereby instructs the proxies, pursuant
to Rule&nbsp;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.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated: ________________________ , 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X _________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

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



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

<P align="center"><B>MUNIYIELD NEW JERSEY 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 Jersey 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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER HEREIN
DIRECTED BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS
PROXY WILL BE VOTED FOR PROPOSAL 1.</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="center">&nbsp;

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

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

<P>Please mark boxes [-] or [x] in blue or black ink.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)<BR>
TERRY K. GLENN, STEPHEN B. SWENSRUD, J. THOMAS TOUCHTON AND FRED G. WEISS</TD>
</TR>
</TABLE>
<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>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated: _____________________________, 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

<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 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
Jersey 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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER
HEREIN DIRECTED BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS
MADE, THIS PROXY WILL BE VOTED FOR PROPOSAL 1.</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 [-] OR [X] IN BLUE OR BLACK INK.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)
<BR>M.&nbsp;COLYER CRUM, TERRY K. GLENN, LAURIE SIMON HODRICK, STEPHEN B. SWENSRUD,
J. THOMAS TOUCHTON AND FRED G. WEISS

<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>If the undersigned is a broker-dealer, it hereby instructs the proxies,
pursuant to Rule&nbsp;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.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>DATED:____________________________, 2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURE</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURE, IF HELD JOINTLY</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

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



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

<P align="center"><B>MUNIYIELD MICHIGAN 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 Michigan
Insured 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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER HEREIN
DIRECTED BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS
PROXY WILL BE VOTED FOR PROPOSAL 1.</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="center">&nbsp;

<p align="right">(Continued and to be signed on the reverse side)
<!-- PAGEBREAK -->
<P><HR noshade><P>
<P>Please mark boxes [-] or [x] in blue or black ink.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)<BR>
TERRY K. GLENN, STEPHEN B. SWENSRUD, J. THOMAS TOUCHTON AND FRED G. WEISS</TD>
</TR>
</TABLE>
<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>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated:________________________,2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>x_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>x_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

<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 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 Michigan 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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER HEREIN
DIRECTED BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS
PROXY WILL BE VOTED FOR PROPOSAL 1.</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="center">&nbsp;

<p align="right">(Continued and to be signed on the reverse side)
<!-- PAGEBREAK -->
<P><HR noshade><P>


<P align="left">Please mark boxes [-] or [x] in blue or black ink.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left">1.</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="96%">ELECTION OF TRUSTEES</TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="24%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
FOR all nominees listed below<BR>
(except as marked to the<BR>
contrary below) [ ]
</TD>
        <TD></TD>
        <TD  align="left" valign="top">WITHHOLD AUTHORITY<BR>
to vote for all nominees<BR>
listed below [ ]</TD>
</TR>
</TABLE></CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE,
STRIKE A LINE THROUGH THE NOMINEE&#146;S NAME IN THE LIST BELOW.)<BR>M. COLYER CRUM, TERRY K. GLENN, LAURIE SIMON HODRICK, STEPHEN B. SWENSRUD,
J. THOMAS TOUCHTON AND FRED G. WEISS</TD>
</TR>
</TABLE>
<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>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>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>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>Dated:________________________,2001</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>X ________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature, if held jointly</TD>
</TR>
</TABLE>
<P>SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.

<P>If the undersigned is a broker-dealer, it hereby instructs the proxies, pursuant
to Rule&nbsp;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.


<P align="center">&nbsp;

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