-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OcBXV3cEJd6pdu6XcC1xr1FidX4oJLT0U17qPI2laeNR10uE688zRnhhKO2UlR4B
 mWJEu8uhAWGXK08JkdQrsA==

<SEC-DOCUMENT>/in/edgar/work/0000950123-00-010364/0000950123-00-010364.txt : 20001114
<SEC-HEADER>0000950123-00-010364.hdr.sgml : 20001114
ACCESSION NUMBER:		0000950123-00-010364
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20001113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIHOLDINGS INSURED FUND II INC
		CENTRAL INDEX KEY:			0001071899
		STANDARD INDUSTRIAL CLASSIFICATION:	 [
]		IRS NUMBER:				223636347
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		DEFA14A
			SEC ACT:		
			SEC FILE NUMBER:	811-09191
			FILM NUMBER:		759331
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		C/O MERRILL LYNCH ASSET MANAGEMENT
				STREET 2:		800 SCUDDERS MILL RD
				CITY:			PLAINSBORO
				STATE:			NJ
				ZIP:			08536
				BUSINESS PHONE:		6092823087
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		C/O MERRILL LYNCH ASSET MANAGEMENT
					STREET 2:		PO BOX 9011, INFO SYSTEMS SECT 2-B
					CITY:			PRINCETON
					STATE:			NJ
					ZIP:			08543-9011
</MAIL-ADDRESS>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>y41294ddefa14a.htm
<DESCRIPTION>DEFINITIVE ADDITIONAL MATERIALS
<TEXT>

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





<P align="center">SCHEDULE 14A INFORMATION

<P align="CENTER">PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES<BR>
EXCHANGE ACT OF 1934 (AMENDMENT NO.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )

<P>Filed by the Registrant [X]

<P>Filed by a Party other than the Registrant [ ]

<P>Check the appropriate box:

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Preliminary Proxy Statement</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Confidential, for Use of the Commission Only</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(as permitted by Rule&nbsp;14a-6(e)(2))</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Definitive Proxy Statement</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top">[X]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Definitive Additional Materials</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Soliciting Material Pursuant to Section&nbsp;240.14a-12</TD>
</TR>
</TABLE>

<P align="center">MuniHoldings Insured Fund II, Inc. P.O. Box 9011 Princeton,<BR>
New Jersey 08543-9011

<P>
<HR noshade width="100%" align="center" size="1">
<P>

<P align="center"><FONT size="3">(Name of Registrant as Specified In Its Charter)</FONT>

<P>
<HR noshade width="100%" align="center" size="1">
<P>

<P align="center">(Name of Person(s) Filing Proxy Statement, if other than Registrant)

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of Filing Fee (Check the appropriate box):

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top">[X]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
No fee required.</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>

<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-11.</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(1) Title of each class of securities to which transaction applies:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(2) Aggregate number of securities to which transaction applies</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(3) 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):</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(4) Proposed maximum aggregate value of transaction:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(5) Total fee paid:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Fee paid previously with preliminary materials.</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top">[ ]</TD>
        <TD></TD>
        <TD  align="left" valign="top">
Check box if any part of the fee is offset as provided by Exchange Act Rule
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.</TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(1) Amount Previously Paid:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(2) Form, Schedule or Registration Statement No.:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(3) Filing Party:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
(4) Date Filed:</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD  align="left" valign="top">
<BR><HR size="1"></TD>
</TR>
</TABLE>


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

<P align="center"><B>MUNIHOLDINGS INSURED FUND II, INC.</B>

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

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

<DIV align="center">
<HR size="1" width="30%" align="center">
</DIV>

<P align="center"><B>NOTICE OF 2000 ANNUAL MEETING OF STOCKHOLDERS</B>

<DIV align="center">
<HR size="1" width="30%" align="center">
</DIV>

<P align="center">
<B>December&nbsp;13, 2000</B>

<P align="left">TO THE STOCKHOLDERS OF MUNIHOLDINGS INSURED FUND II, INC.:

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NOTICE IS HEREBY GIVEN that the 2000 Annual Meeting of
Stockholders (the &#147;Meeting&#148;) of MuniHoldings Insured
Fund&nbsp;II, Inc. (the &#147;Fund&#148;) will be held at the
offices of Merrill Lynch Investment Managers, L.P.,
800&nbsp;Scudders Mill Road, Plainsboro, New Jersey, on
Wednesday, December&nbsp;13, 2000 at 1:00&nbsp;p.m. for the
following purposes:
<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 a Board of Directors to serve for the ensuing
	year;</TD>
</TR>

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

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	(2)&nbsp; To consider and act upon a proposal to ratify the
	selection of Ernst &#38; Young LLP to serve as independent
	auditors of the Fund for its current fiscal year; and</TD>
</TR>

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

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

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors has fixed the close of business on
October&nbsp;30, 2000 as the record date for the determination
of stockholders entitled to notice of and to vote at the Meeting
or any adjournment thereof.

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A complete list of the stockholders of the Fund entitled to vote
at the Meeting will be available and open to the examination of
any stockholder of the Fund for any purpose germane to the
Meeting during ordinary business hours from and after
November&nbsp;29, 2000, at the office of the Fund, 800 Scudders
Mill Road, Plainsboro, New Jersey. You are cordially invited to
attend the Meeting. <B>Stockholders who do not expect to attend
the meeting in person are requested to complete, date and sign
the enclosed form of proxy and return it promptly in the
envelope provided for this purpose. If you have been provided
with the opportunity on your proxy card or voting instruction
form to provide voting instructions via telephone or the
Internet, please take advantage of these prompt and efficient
voting options. </B>The enclosed proxy is being solicited on
behalf of the Board of Directors of the Fund.

<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.
<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</TD>
</TR>

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

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	BRADLEY J. LUCIDO</TD>
</TR>

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

</TABLE>

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

<DIV align="left">
Dated:&nbsp; November&nbsp;9, 2000
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
