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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000900092-01-500031.txt : 20010613
<SEC-HEADER>0000900092-01-500031.hdr.sgml : 20010613
ACCESSION NUMBER:		0000900092-01-500031
CONFORMED SUBMISSION TYPE:	N-30D
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010430
FILED AS OF DATE:		20010612

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:		N-30D
		SEC ACT:		
		SEC FILE NUMBER:	811-07136
		FILM NUMBER:		1658923

	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>N-30D
<SEQUENCE>1
<FILENAME>ml6642.txt
<DESCRIPTION>MYPAINS6642
<TEXT>




Merrill Lynch Investment Managers


Semi-Annual Report

April 30, 2001



MuniYield Pennsylvania Insured Fund


www.mlim.ml.com




MuniYield Pennsylvania Insured Fund seeks to provide shareholders
with as high a level of current income exempt from Federal and
Pennsylvania income taxes as is consistent with its investment
policies and prudent investment management by investing primarily in
a portfolio of long-term municipal obligations the interest on
which, in the opinion of bond counsel to the issuer, is exempt from
Federal and Pennsylvania income taxes.

This report, including the financial information herein, is
transmitted to shareholders of MuniYield Pennsylvania Insured Fund
for their information. It is not a prospectus. Past performance
results shown in this report should not be considered a
representation of future performance. The Fund has leveraged its
Common Shares by issuing Preferred Shares to provide the Common
Shareholders with a potentially higher rate of return. Leverage
creates risks for Common Shareholders, including the likelihood of
greater volatility of net asset value and market price of the Common
Shares, and the risk that fluctuations in the short-term dividend
rates of the Preferred Shares may affect the yield to Common
Shareholders. Statements and other information herein are as dated
and are subject to change.




MuniYield Pennsylvania
Insured Fund
Box 9011
Princeton, NJ
08543-9011


Printed on post-consumer recycled paper



MUNIYIELD PENNSYLVANIA INSURED FUND



The Benefits and
Risks of
Leveraging

MuniYield Pennsylvania Insured Fund utilizes leveraging to seek to
enhance the yield and net asset value of its Common Shares. However,
these objectives cannot be achieved in all interest rate
environments. To leverage, the Fund issues Preferred Shares, which
pay dividends at prevailing short-term interest rates, and invests
the proceeds in long-term municipal bonds. The interest earned on
these investments is paid to Common Shareholders in the form of
dividends, and the value of these portfolio holdings is reflected in
the per share net asset value of the Fund's Common Shares. However,
in order to benefit Common Shareholders, the yield curve must be
positively sloped; that is, short-term interest rates must be lower
than long-term interest rates. At the same time, a period of
generally declining interest rates will benefit Common Shareholders.
If either of these conditions change, then the risks of leveraging
will begin to outweigh the benefits.

To illustrate these concepts, assume a fund's Common Share
capitalization of $100 million and the issuance of Preferred Shares
for an additional $50 million, creating a total value of $150
million available for investment in long-term municipal bonds. If
prevailing short-term interest rates are approximately 3% and long-
term interest rates are approximately 6%, the yield curve has a
strongly positive slope. The fund pays dividends on the $50 million
of Preferred Shares based on the lower short-term interest rates. At
the same time, the fund's total portfolio of $150 million earns the
income based on long-term interest rates. Of course, increases in
short-term interest rates would reduce (and even eliminate) the
dividends on the Common Shares.

In this case, the dividends paid to Preferred Shareholders are
significantly lower than the income earned on the fund's long-term
investments, and therefore the Common Shareholders are the
beneficiaries of the incremental yield. However, if short-term
interest rates rise, narrowing the differential between short-term
and long-term interest rates, the incremental yield pickup on the
Common Shares will be reduced or eliminated completely. At the same
time, the market value of the fund's Common Shares (that is, their
price as listed on the New York Stock Exchange) may, as a result,
decline. Furthermore, if long-term interest rates rise, the Common
Shares' net asset value will reflect the full decline in the price
of the portfolio's investments, since the value of the fund's
Preferred Shares does not fluctuate. In addition to the decline in
net asset value, the market value of the fund's Common Shares may
also decline.

As a part of its investment strategy, the Fund may invest in certain
securities whose potential income return is inversely related to
changes in a floating interest rate ("inverse floaters"). In
general, income on inverse floaters will decrease when short-term
interest rates increase and increase when short-term interest rates
decrease. Investments in inverse floaters may be characterized as
derivative securities and may subject the Fund to the risks of
reduced or eliminated interest payments and losses of invested
principal. In addition, inverse floaters have the effect of
providing investment leverage and, as a result, the market value of
such securities will generally be more volatile than that of fixed-
rate, tax-exempt securities. To the extent the Fund invests in
inverse floaters, the market value of the Fund's portfolio and the
net asset value of the Fund's shares may also be more volatile than
if the Fund did not invest in these securities.



MuniYield Pennsylvania Insured Fund, April 30, 2001



DEAR SHAREHOLDER

For the six months ended April 30, 2001, the Common Shares of
MuniYield Pennsylvania Insured Fund earned $0.405 per share income
dividends, which included earned and unpaid dividends of $0.070.
This represents a net annualized yield of 5.65%, based on a month-
end net asset value of $14.47 per share. For the six-month period
ended April 30, 2001, the total investment return on the Fund's
Common Shares was +5.35%, based on a change in per share net asset
value from $14.16 to $14.47, and assuming reinvestment of $0.401 per
share income dividends.

For the six-month period ended April 30, 2001, the Fund's Auction
Market Preferred Shares had an average yield of 3.84% for Series A
and 3.77% for Series B.

The Municipal Market Environment
During the six months ended April 30, 2001, the direction of long-
term fixed-income bond yields was affected by the continued decline
in US economic activity, volatile US equity markets, and most
importantly, the reaction of the Federal Reserve Board to these
factors. A preliminary estimate for the first quarter of 2001 gross
national product growth was recently released at 2%, much higher
than expected by most economic analysts. While this estimate is
subject to revision in the coming months, its initial level denotes
that US economic activity remains far below its growth potential.
Additionally, inflationary pressures have remained well contained,
largely in the 2% - 3% range. These factors combined to promote a
very favorable financial environment for bonds, and when coupled
with significant declines in US equity markets in late 2000,
especially the NASDAQ, pushed US Treasury bond yields lower.

By mid-December, the Federal Reserve Board announced that economic
conditions warranted the cessation of the series of short-term
interest rate increases. Given a supportive economic environment
and, at least, a neutral Federal Reserve Board, investors were free
again to focus on the ongoing US Treasury debt reduction programs
and forecasts of sizable Federal budgetary surpluses going forward.
Many analysts and investors concluded that there would be a
significant future shortage of longer-maturing US Treasury
securities. These factors combined to help push US Treasury bond
yields significantly lower.

In early January 2001, the Federal Reserve Board lowered short-term
interest rates by 50 basis points (0.50%), citing declining consumer
confidence and weakening industrial production and retail sales
growth. Similar reasons were given for an additional 50 basis point
reduction in short-term interest rates by the Federal Reserve Board
at the end of January 2001. These interest rate cuts triggered a
significant rebound in many US equity indexes, reducing the appeal
of a large number of US fixed-income securities. Additionally, many
investors, believing that the Federal Reserve Board's actions in
January 2001 as well as those anticipated in the coming months would
quickly restore US economic growth to earlier levels, sold US
Treasury bonds to realize recent profits. At the end of January
2001, long-term US Treasury bonds yielded approximately 5.50%, a
decline of more than 25 basis points since the end of October 2000.

In response to weakening employment, a decline in business
investments and profits, and fears of ongoing weak consumer
spending, the Federal Reserve Board continued to lower short-term
interest rates in March and April in an effort to foster higher US
economic activity. Long-term taxable fixed-income interest rates
responded by declining to recent historic lows. By late March 2001,
long-term US Treasury bond yields declined an additional 25 basis
points to 5.26%.

However, in April, US equity markets, particularly the NASDAQ,
rallied strongly on the expectation that the Federal Reserve Board
would take steps to restore economic activity and corporate
profitability. Throughout much of April many investors reallocated
assets out of US Treasury securities into equities. Corporate bond
issuance remained heavy, providing an additional investment
alternative to US Treasury issues. Under these various pressures, US
Treasury bond prices declined sharply and yields rose to 5.78% by
the end of April. During the past six months, long-term US Treasury
bond yields, although exhibiting considerable volatility, remained
unchanged.

By April 2001, the tax-exempt bond market also reacted to the
Federal Reserve Board's actions and equity market volatility, but
its reaction was muted in both intensity and degree. Throughout most
of the past six months, long-term municipal bond yields traded in a
range between 5.45%--5.60%. In mid-March, the tax-exempt bond market
rallied to 5.40%, following the Federal Reserve Board's most recent
monetary easing. With tax-exempt bond yield ratios in excess of 95%
relative to their US Treasury counterparts during most of the
period, investor demand was particularly strong during periods of
declining equity prices. Strong equity markets in April 2001, as
well as the possibility that the Federal Reserve Board was close to
the end of its interest rate reduction cycle, lowered much of the
investor demand and long-term tax-exempt bond yields rose throughout
April. As measured by the Bond Buyer Revenue Bond Index, long-term,
uninsured tax-exempt bond yields rose to approximately 5.63% at the
end of the period. Despite the price reversal in April, long-term
municipal bond yields declined more than 10 basis points.

The recent relative outperformance of the tax-exempt bond market was
particularly impressive given the dramatic increase in long-term
municipal bond issuance during April 2001. Historically low
municipal bond yields continued to allow municipalities to refund
outstanding, higher-couponed debt. Also, as yields rose in early
April, tax-exempt issuers rushed to issue new financing, fearing
higher yields in the coming months. During the past six months, more
than $115 billion in long-term tax-exempt bonds was issued, an
increase of over 25% compared to the same period a year ago. During
the three-month period ended April 30, 2001, tax-exempt bond
issuance was particularly heavy with more than $66 billion in long-
term municipal bonds underwritten, an increase of over 40% compared
to the same period ended April 30, 2000. More than $20 billion in
municipal securities was issued in April 2001, a 20% increase
compared to April 2000.

Historically, April has been a period of weak demand for tax-exempt
products as investors are often forced to liquidate bond positions
to meet Federal and state tax payments. In April 2001, there was no
appreciable selling by retail accounts. It has been noted that thus
far in 2001, new net cash inflows into municipal bond mutual funds
have exceeded $4 billion compared to net new cash outflows of nearly
$9 billion for the same period a year ago. This suggests that the
positive technical structure of the municipal market has remained
intact. Also, the coming months of June and July tend to be periods
of strong retail demand in response to the larger-coupon income
payments and proceeds from bond maturities these months generate.
Additionally, short-term tax-exempt interest rates are poised to
move lower. Seasonal tax pressures have kept short-term municipal
rates artificially high, although not as high as in recent years. We
believe all of these factors should enhance the tax-exempt market's
technical position in the coming months.

Looking forward, the municipal market's direction appears uncertain.
Should the US economy materially weaken into late summer, the
Federal Reserve Board may be forced to ease monetary policy to a
greater extent than investors currently expect. The prospect of two
or three additional interest rate easings may push fixed-income bond
yields, including municipal bond yields, lower. However, should the
cumulative 200 basis point reduction in short-term interest rates by
the Federal Reserve Board and the proposed Federal tax reform
combine to quickly restore consumer confidence and economic
activity, tax-exempt bond rates may not decline further. Given the
strong technical position of the municipal market, we believe the
tax-exempt market is poised to continue to outperform its taxable
counterpart in the coming months.

Portfolio Strategy
During the six-month period ended April 30, 2001, we focused on
enhancing the level of tax-exempt income and moderating net asset
value volatility of the Fund. We concentrated on the acquisition of
higher-couponed securities in the 15-year--20-year maturity range
and the sale of long duration bonds. As a result of the municipal
bond market's yield curve, these issues represented 90%--95% of the
yield available in the entire yield curve. This maturity sector also
provided less interest rate sensitivity than bonds maturing in 25
years--30 years.

Looking ahead, we anticipate that we will maintain our current
market neutral and fully invested positions in an effort to enhance
shareholder income. Tax-exempt bond yields are expected to remain in
a narrow range until it becomes clearer that the Federal Reserve
Board actions are having an impact and the US economy displays signs
of growth. At this time we do not foresee any significant changes to
the Fund. If either the US economy or equity markets show any major
weakness, we are prepared to adopt a more positive strategy in order
to enhance portfolio appreciation.

Despite recent seasonal tax-related pressures on short-term interest
rates, the Federal Reserve Board's 200 basis point decrease in short-
term interest rates by April 30, 2001 has had a beneficial impact on
the Fund's borrowing costs, which were in the 3.5%--3.75% range.
Short-term tax-exempt rates are expected to fall into the 3% range.
This decline in borrowing costs can generate a significant income
benefit to the Fund's Common Shareholders from the leveraging of the
Preferred Shares. However, should the spread between short-term and
long-term interest rates narrow, the benefits of leverage will
decline and, as a result, reduce the yield on the Fund's Common
Shares. (For a complete explanation of the benefits and risks of
leveraging, see page 1 of this report to shareholders.)

In Conclusion
We appreciate your continuing interest in MuniYield Pennsylvania
Insured Fund, and we look forward to serving your investment needs
in the months and years to come.

Sincerely,



(Terry K. Glenn)
Terry K. Glenn
President and Trustee



(Vincent R. Giordano)
Vincent R. Giordano
Senior Vice President



(William R. Bock)
William R. Bock
Vice President and Portfolio Manager



May 29, 2001



MuniYield Pennsylvania Insured Fund, April 30, 2001



PROXY RESULTS

During the six-month period ended April 30, 2001, MuniYield
Pennsylvania Insured Fund's Common Shareholders voted on the
following proposal. The proposal was voted on at a shareholders'
meeting on April 25, 2001. The meeting was adjourned until May 16,
2001 at which time the proposal was approved. The description of the
proposal and number of shares voted are as follows:


<TABLE>
<CAPTION>
                                                                    Shares Voted                 Shares Withheld
                                                                        For                        From Voting
<S>                                      <S>                          <C>                            <C>
1. To elect the Fund's Trustees:         Terry K. Glenn               10,844,430                     115,557
                                         Stephen B. Swensrud          10,844,844                     115,143
                                         J. Thomas Touchton           10,844,430                     115,557
                                         Fred G. Weiss                10,844,430                     115,557


During the six-month period ended April 30, 2001, MuniYield
Pennsylvania Insured Fund's Preferred Shareholders voted on the
following proposal. The proposal was voted on at a shareholders'
meeting on April 25, 2001. The meeting was adjourned until May 16,
2001 at which time the proposal was approved. The description of the
proposal and number of shares voted are as follows:

<CAPTION>
                                                                     Shares Voted                Shares Withheld
                                                                         For                       From Voting
<S>                                      <S>                            <C>                             <C>
1. To elect the Fund's Board of Trustees: Terry K. Glenn,
   M. Colyer Crum, Laurie Simon Hodrick, Stephen B. Swensrud,
   J. Thomas Touchton and Fred G. Weiss as follows:
                                         Series A                       1,569                           0
                                         Series B                       1,918                           0
</TABLE>


MuniYield Pennsylvania Insured Fund, April 30, 2001


Portfolio
Abbreviations

To simplify the listings of MuniYield Pennsylvania Insured Fund's
portfolio holdings in the Schedule of Investments, we have
abbreviated the names of many of the securities according to the
list at right.

AMT   Alternative Minimum Tax
      (subject to)
GO    General Obligation Bonds
HFA   Housing Finance Agency
IDA   Industrial Development Authority
PCR   Pollution Control Revenue Bonds
RIB   Residual Interest Bonds
S/F   Single-Family
VRDN  Variable Rate Demand Notes


<TABLE>
SCHEDULE OF INVESTMENTS                                                                                     (in Thousands)
<CAPTION>
           S&P      Moody's   Face
STATE      Ratings  Ratings  Amount  Issue                                                                          Value
<S>            <C>   <C>   <C>       <S>                                                                         <C>
Pennsylvania   AAA   Aaa   $  2,000  Allegheny County, Pennsylvania, Hospital Development Authority
- --98.2%                              Revenue Bonds (Allegheny General Hospital Project), Series A,
                                     6.25% due 9/01/2007 (d)(e)                                                  $  2,237
               AAA   Aaa      6,000  Allegheny County, Pennsylvania, Port Authority, Special Transportation
                                     Revenue Bonds, 6% due 3/01/2009 (d)(e)                                         6,685
               AAA   Aaa      9,000  Allegheny County, Pennsylvania, Port Authority, Transportation
                                     Special Revenue Refunding Bonds, 5.25% due 3/01/2020 (c)                       8,904
                                     Allegheny County, Pennsylvania, Sanitation Authority, Sewer Revenue
                                     Bonds (d):
               AAA   Aaa      3,660    5.75% due 12/01/2018                                                         3,844
               AAA   Aaa     10,000    5.375% due 12/01/2024                                                        9,966
               AAA   Aaa      9,000    5.50% due 12/01/2024                                                         9,076
               AAA   Aaa      2,550  Berks County, Pennsylvania, GO, Refunding, 5.85% due 11/15/2018 (c)            2,619
               NR*   Aaa      4,500  Bucks County, Pennsylvania, Water and Sewer Authority, Revenue
                                     Refunding Bonds (Neshaminy Interceptor Sewer System), 5.60% due
                                     6/01/2024 (a)                                                                  4,565
               AAA   Aaa      2,000  Delaware County, Pennsylvania, IDA, PCR, Refunding (Philadelphia
                                     Electric Company Project), Series A, 7.375% due 4/01/2021 (a)                  2,045
               A1+   VMIG1++  3,900  Geisinger Authority, Pennsylvania, Health System Revenue Refunding
                                     Bonds (Geisinger Health Systems), VRDN, 4.45% due 8/01/2028 (j)                3,900
               AAA   Aaa      4,000  Gettysburg, Pennsylvania, Municipal Authority, College Revenue
                                     Refunding Bonds, 5% due 8/15/2023 (d)                                          3,783
               AAA   Aaa      3,280  Johnstown, Pennsylvania, GO, Refunding, 6.45% due 10/01/2019 (c)               3,494
               AAA   Aaa      7,000  Lehigh County, Pennsylvania, General Purpose Authority Revenue Bonds
                                     (Saint Luke's Hospital--Bethlehem), 6.25% due 7/01/2022 (a)                    7,185
               AAA   Aaa     10,750  Lehigh County, Pennsylvania, IDA, PCR, Refunding (Pennsylvania
                                     Power and Light Company Project), Series A, 6.40% due 11/01/2021 (d)          11,282
               AAA   Aaa      4,570  Lower Providence Township, Pennsylvania, Sewer Authority, Sewer
                                     Revenue Refunding Bonds, 5.25% due 5/01/2022 (d)                               4,473
               NR*   A3       1,500  Luzerne County, Pennsylvania, IDA, Exempt Facilities Revenue Bonds
                                     (Pennsylvania Gas and Water Company Project), AMT, Series B, 7.125%
                                     due 12/01/2022                                                                 1,581
                                     Luzerne County, Pennsylvania, IDA, Exempt Facilities Revenue
                                     Refunding Bonds (Pennsylvania Gas and Water Company Project),
                                     AMT, Series A:
               NR*   A3       2,500    7.20% due 10/01/2017                                                         2,629
               AAA   Aaa      5,000    7% due 12/01/2017 (a)                                                        5,526
               AAA   Aaa      1,000  Northeastern Pennsylvania, Hospital and Education Authority,
                                     College Revenue Bonds (Luzerne County Community College), 6.625%
                                     due 2/15/2005 (a)(e)                                                           1,098
               AAA   NR*      4,000  Norwin, Pennsylvania, School District, GO, 6% due 4/01/2010 (c)(e)            4,446
               BBB   Baa2     6,500  Pennsylvania Economic Development Financing Authority, Wastewater
                                     Treatment Revenue Bonds (Sun Company Inc.--R & M Project), AMT,
                                     Series A, 7.60% due 12/01/2024                                                 6,941
               AAA   Aaa      4,000  Pennsylvania HFA, Rental Housing Revenue Refunding Bonds, 6.50%
                                     due 7/01/2023 (d)(g)                                                           4,126
               AA+   Aa2      2,000  Pennsylvania HFA, Revenue Bonds, RIB, AMT, 8.638% due 4/01/2025 (i)            2,043
                                     Pennsylvania HFA, S/F Mortgage Revenue Bonds, AMT (d):
               AAA   Aaa      2,630    Series 34B, 7% due 4/01/2024 (h)                                             2,706
               AAA   Aaa      8,000    Series 70A, 5.80% due 10/01/2021                                             8,133
                                     Pennsylvania HFA, S/F Mortgage Revenue Refunding Bonds, AMT (d):
               AAA   Aaa      2,500    Series 39B, 6.875% due 10/01/2024                                            2,622
               AAA   Aaa      2,965    Series 41B, 6.65% due 4/01/2025                                              3,098
               AAA   Aaa      1,720    Series 60A, 5.85% due 10/01/2027 (h)                                         1,746
               AAA   Aaa      6,900  Pennsylvania Intergovernmental Co-Op Authority, Special Tax
                                     Revenue Refunding Bonds (Philadelphia Funding Program), 5% due
                                     6/15/2021 (c)                                                                  6,521
               AAA   Aaa      3,015  Pennsylvania State, GO, First Series, 5% due 6/01/2018 (d)                     2,934
               NR*   Aaa      5,500  Pennsylvania State, GO, RIB, Series 465x, 7.03% due 10/01/2019 (d)(i)          6,002
                                     Pennsylvania State, GO, Refunding, First Series:
               AA    Aa2      6,405    5% due 1/15/2009                                                             6,641
               AAA   Aaa      5,770    6% due 1/15/2017 (d)                                                         6,219
               AAA   Aaa      4,000  Pennsylvania State, GO, Third Series, 5% due 12/01/2018 (c)                    3,877
               AAA   Aaa      6,000  Pennsylvania State Higher Education Assistance Agency, Student
                                     Loan Revenue Bonds, AMT, Series C, 7.15% due 9/01/2021 (a)                     6,258
               AAA   Aaa      1,690  Pennsylvania State Higher Educational Facilities Authority, College
                                     and University Revenue Bonds (Marywood University Project),
                                     5.50% due 6/01/2018 (d)                                                        1,715
               AA    NR*      4,000  Pennsylvania State Higher Educational Facilities Authority, College
                                     and University Revenue Refunding Bonds (University of the Arts),
                                     5.75% due 3/15/2030                                                            3,977
                                     Pennsylvania State Higher Educational Facilities Authority, Revenue
                                     Refunding Bonds:
               A1+   NR*      2,500    (Carnegie Mellon University), VRDN, Series A, 4.45% due 11/01/2025 (j)       2,500
               AA    Baa3     1,400    (Philadelphia University), 6% due 6/01/2029                                  1,457
                                     Pennsylvania State Turnpike Commission, Oil Franchise Tax Revenue
                                     Refunding Bonds, Senior Series A (a):
               AAA   Aaa      4,000    5% due 12/01/2023                                                            3,787
               AAA   Aaa      3,000    4.75% due 12/01/2027                                                         2,674
               AAA   Aaa      9,000  Pennsylvania State Turnpike Commission, Turnpike Revenue Bonds,
                                     Series R, 5% due 12/01/2026 (a)                                                8,494
               AAA   Aaa      9,125  Philadelphia, Pennsylvania, Authority for Industrial Development,
                                     Lease Revenue Bonds (City of Philadelphia Project), Series A,
                                     5.375% due 2/15/2027 (d)                                                       8,992
               AAA   NR*      3,000  Philadelphia, Pennsylvania, Hospitals and Higher Education
                                     Facilities Authority, Hospital Revenue Refunding Bonds (Presbyterian
                                     Medical Center), 6.65% due 12/01/2019 (b)                                      3,478
               AAA   Aaa      2,000  Philadelphia, Pennsylvania, Parking Authority, Airport Parking
                                     Revenue Bonds, 5.625% due 9/01/2015 (f)                                        2,092
               AAA   Aaa      5,500  Philadelphia, Pennsylvania, Parking Authority, Parking Revenue
                                     Refunding Bonds, 5% due 2/01/2027 (a)                                          5,130
</TABLE>


MuniYield Pennsylvania Insured Fund, April 30, 2001


<TABLE>
SCHEDULE OF INVESTMENTS                                                                                     (in Thousands)
<CAPTION>
           S&P      Moody's   Face
STATE      Ratings  Ratings  Amount  Issue                                                                         Value
<S>            <C>   <C>   <C>       <S>                                                                         <C>
Pennsylvania                         Philadelphia, Pennsylvania, School District, GO:
(concluded)    AAA   Aaa   $  7,150    Series A, 5.75% due 2/01/2030 (f)                                         $  7,354
               AAA   Aaa      7,000    Series B, 5.375% due 4/01/2027 (a)                                           6,936
               AAA   Aaa      3,070  Pittsburgh, Pennsylvania, GO, Series A, 5.65% due 9/01/2017 (c)                3,172
                                     Pittsburgh, Pennsylvania, Public Parking Authority, Parking
                                     Revenue Bonds (a):
               AAA   Aaa      1,460    5.80% due 12/01/2017                                                         1,529
               AAA   Aaa      1,525    5.85% due 12/01/2018                                                         1,600
               A1+   NR*      1,200  Schuylkill County, Pennsylvania, IDA, Resource Recovery Revenue
                                     Refunding Bonds (Northeastern Power Company), VRDN, AMT, Series B,
                                     4.55% due 12/01/2022 (j)                                                       1,200
               A-    NR*      2,520  Scranton-Lackawanna, Pennsylvania, Health and Welfare Authority,
                                     Revenue Refunding Bonds (University of Scranton Project), Series B,
                                     6.50% due 3/01/2015                                                            2,616
                                     Southeastern Pennsylvania Transportation Authority, Special
                                     Revenue Bonds (c):
               AAA   Aaa      4,500    5.375% due 3/01/2017                                                         4,547
               AAA   Aaa      2,525    5.375% due 3/01/2022                                                         2,523
               AAA   Aaa      3,500  Washington County, Pennsylvania, Capital Funding Authority Revenue
                                     Bonds (Capital Projects and Equipment Program), 6.15% due 12/01/2029 (a)       3,886

Puerto         A     Baa1     1,000  Puerto Rico Commonwealth Highway and Transportation Authority,
Rico--0.4%                           Transportation Revenue Bonds, Series B, 6% due 7/01/2026                       1,042


               Total Investments (Cost--$240,327)--98.6%                                                          249,906

               Other Assets Less Liabilities--1.4%                                                                  3,562
                                                                                                                 --------
               Net Assets--100.0%                                                                                $253,468
                                                                                                                 ========


(a)AMBAC Insured.
(b)Escrowed to maturity.
(c)FGIC Insured.
(d)MBIA Insured.
(e)Prerefunded.
(f)FSA Insured.
(g)FNMA Collateralized.
(h)FHA Insured.
(i)The interest rate is subject to change periodically and inversely
based upon prevailing market rates. The interest rate shown is the
rate in effect at April 30, 2001.
(j)The interest rate is subject to change periodically based upon
prevailing market rates. The interest rate shown is the rate in
effect at April 30, 2001.
*Not Rated.
++Highest short-term rating by Moody's Investors Service, Inc.


See Notes to Financial Statements.
</TABLE>

<TABLE>
STATEMENT OF ASSETS, LIABILITIES AND CAPITAL
<CAPTION>
                    As of April 30, 2001
<S>                 <S>                                                                    <C>              <C>
Assets:             Investments, at value (identified cost--$240,327,129)                                   $249,906,427
                    Cash                                                                                           2,025
                    Receivables:
                      Securities sold                                                      $  7,333,665
                      Interest                                                                4,066,556       11,400,221
                                                                                           ------------
                    Prepaid expenses and other assets                                                             41,283
                                                                                                            ------------
                    Total assets                                                                             261,349,956
                                                                                                            ------------

Liabilities:        Payables:
                      Securities purchased                                                    7,536,597
                      Dividends to shareholders                                                 199,838
                      Investment adviser                                                        101,522        7,837,957
                                                                                           ------------
                    Accrued expenses                                                                              44,203
                                                                                                            ------------
                    Total liabilities                                                                          7,882,160
                                                                                                            ------------

Net Assets:         Net assets                                                                              $253,467,796
                                                                                                            ============

Capital:            Capital Shares (unlimited number of shares authorized):
                      Preferred Shares, par value $.05 per share (3,520 shares
                      of AMPS* issued and outstanding at $25,000 per share
                      liquidation preference)                                                               $ 88,000,000
                      Common Shares, par value $.10 per share (11,434,032
                      shares issued and outstanding)                                       $  1,143,403
                    Paid-in capital in excess of par                                        170,030,716
                    Undistributed investment income--net                                      1,194,493
                    Accumulated realized capital losses on investments--net                (15,139,859)
                    Accumulated distributions in excess of realized capital
                    gains on investments--net                                               (1,340,255)
                    Unrealized appreciation on investments--net                               9,579,298
                                                                                           ------------
                    Total--Equivalent to $14.47 net asset value per Common
                    Share (market price--$13.41)                                                             165,467,796
                                                                                                            ------------
                    Total capital                                                                           $253,467,796
                                                                                                            ============


                    *Auction Market Preferred Shares.


                    See Notes to Financial Statements.
</TABLE>


MuniYield Pennsylvania Insured Fund, April 30, 2001


<TABLE>
STATEMENT OF OPERATIONS
<CAPTION>
                    For the Six Months Ended April 30, 2001
<S>                 <S>                                                                    <C>              <C>
Investment          Interest and amortization of premium and discount earned                                $  7,122,260
Income:

Expenses:           Investment advisory fees                                               $    634,472
                    Commission fees                                                             115,264
                    Accounting services                                                          60,091
                    Professional fees                                                            40,885
                    Transfer agent fees                                                          32,010
                    Listing fees                                                                 17,878
                    Trustees' fees and expenses                                                  14,981
                    Printing and shareholder reports                                             14,232
                    Custodian fees                                                                7,920
                    Pricing fees                                                                  3,906
                    Other                                                                         8,064
                                                                                           ------------
                    Total expenses                                                                               949,703
                                                                                                            ------------
                    Investment income--net                                                                     6,172,557
                                                                                                            ------------

Realized &          Realized gain on investments--net                                                          1,634,911
Unrealized          Change in unrealized appreciation on investments--net                                      2,047,648
Gain on                                                                                                     ------------
Investments         Net Increase in Net Assets Resulting from Operations                                    $  9,855,116
- --Net:                                                                                                      ============

                    See Notes to Financial Statements.
</TABLE>


<TABLE>
STATEMENTS OF CHANGES IN NET ASSETS
<CAPTION>
                                                                                           For the Six        For the
                                                                                           Months Ended      Year Ended
                                                                                            April 30,       October 31,
                    Increase (Decrease) in Net Assets:                                         2001             2000
<S>                 <S>                                                                    <C>              <C>
Operations:         Investment income--net                                                 $  6,172,557     $ 10,355,793
                    Realized gain (loss) on investments--net                                  1,634,911      (7,084,167)
                    Change in unrealized appreciation/depreciation on
                    investments--net                                                          2,047,648       16,283,097
                                                                                           ------------     ------------
                    Net increase in net assets resulting from operations                      9,855,116       19,554,723
                                                                                           ------------     ------------

Dividends to        Investment income--net:
Shareholders:         Common Shares                                                         (4,580,599)      (7,590,869)
                      Preferred Shares                                                      (1,658,826)      (3,022,040)
                                                                                           ------------     ------------
                    Net decrease in net assets resulting from dividends to
                    shareholders                                                            (6,239,425)     (10,612,909)
                                                                                           ------------     ------------

Capital Share       Proceeds from issuance of Common Shares resulting from
Transactions:       reorganization                                                                   --       72,664,657
                    Proceeds from issuance of Preferred Shares resulting from
                    reorganization                                                                   --       48,000,000
                                                                                           ------------     ------------
                    Net increase in net assets derived from capital share
                    transactions                                                                     --      120,664,657
                                                                                           ------------     ------------

Net Assets:         Total increase in net assets                                              3,615,691      129,606,471
                    Beginning of period                                                     249,852,105      120,245,634
                                                                                           ------------     ------------
                    End of period*                                                         $253,467,796     $249,852,105
                                                                                           ============     ============

                    *Undistributed investment income--net                                  $  1,194,493     $  1,261,361
                                                                                           ============     ============

                    See Notes to Financial Statements.
</TABLE>


MuniYield Pennsylvania Insured Fund, April 30, 2001


<TABLE>
FINANCIAL HIGHLIGHTS
<CAPTION>
The following per share data and ratios have been derived        For the Six
from information provided in the financial statements.           Months Ended
                                                                  April 30,        For the Year Ended October 31,
Increase (Decrease) in Net Asset Value:                              2001       2000       1999        1998       1997
<S>                 <S>                                           <C>        <C>        <C>        <C>         <C>
Per Share           Net asset value, beginning of period          $   14.16  $   13.62  $   16.01  $   15.86   $   15.32
Operating                                                         ---------  ---------  ---------  ---------   ---------
Performance:        Investment income--net                              .54        .99       1.05       1.12        1.13
                    Realized and unrealized gain (loss)
                    on investments--net                                 .32        .65     (1.87)        .46         .66
                                                                  ---------  ---------  ---------  ---------   ---------
                    Total from investment operations                    .86       1.64      (.82)       1.58        1.79
                                                                  ---------  ---------  ---------  ---------   ---------
                    Less dividends and distributions to
                    Common Shareholders:
                      Investment income--net                          (.40)      (.80)      (.87)      (.88)       (.89)
                      Realized gain on investments--net                  --         --      (.25)      (.27)       (.09)
                      In excess of realized gain on
                      investments--net                                   --         --      (.20)         --          --
                                                                  ---------  ---------  ---------  ---------   ---------
                    Total dividends and distributions to
                    Common Shareholders                               (.40)      (.80)     (1.32)     (1.15)       (.98)
                                                                  ---------  ---------  ---------  ---------   ---------
                    Effect of Preferred Share activity:
                      Dividends and distributions to
                      Preferred Shareholders:
                        Investment income--net                        (.15)      (.30)      (.19)      (.18)       (.24)
                        Realized gain on investments--net                --         --      (.03)      (.10)       (.03)
                      In excess of realized gain on
                      investments--net                                   --         --      (.03)         --          --
                                                                  ---------  ---------  ---------  ---------   ---------
                    Total effect of Preferred Share activity          (.15)      (.30)      (.25)      (.28)       (.27)
                                                                  ---------  ---------  ---------  ---------   ---------
                    Net asset value, end of period                $   14.47  $   14.16  $   13.62  $   16.01   $   15.86
                                                                  =========  =========  =========  =========   =========
                    Market price per share, end of period         $   13.41  $   11.75  $   12.25  $   16.50   $ 14.8125
                                                                  =========  =========  =========  =========   =========

Total Investment    Based on market price per share               17.66%+++      2.46%   (18.98%)     19.82%      12.15%
Return:**                                                         =========  =========  =========  =========   =========
                    Based on net asset value per share             5.35%+++     11.06%    (7.16%)      8.58%      10.71%
                                                                  =========  =========  =========  =========   =========

Ratios Based on     Total expenses, excluding reorganization
Average Net         expenses***                                      1.14%*      1.18%      1.15%      1.11%       1.14%
Assets of                                                         =========  =========  =========  =========   =========
Common Shares:      Total expenses***                                1.14%*      1.46%      1.15%      1.11%       1.14%
                                                                  =========  =========  =========  =========   =========
                    Total investment income--net***                  7.42%*      7.58%      7.00%      7.01%       7.30%
                                                                  =========  =========  =========  =========   =========
                    Amount of dividends to Preferred
                    Shareholders                                     1.99%*      2.21%      1.24%      1.15%       1.52%
                                                                  =========  =========  =========  =========   =========
                    Investment income--net, to Common
                    Shareholders                                     5.43%*      5.37%      5.76%      5.86%       5.78%
                                                                  =========  =========  =========  =========   =========

Ratios Based on     Total expenses, excluding reorganization
Total Average Net   expenses                                          .75%*       .76%       .79%       .77%        .79%
Assets:***++                                                      =========  =========  =========  =========   =========
                    Total expenses                                    .75%*       .94%       .79%       .77%        .79%
                                                                  =========  =========  =========  =========   =========
                    Total investment income--net                     4.87%*      4.89%      4.82%      4.90%       5.07%
                                                                  =========  =========  =========  =========   =========

Ratios Based on     Dividends to Preferred Shareholders              3.80%*      4.01%      2.73%      2.62%       3.41%
Average Net                                                       =========  =========  =========  =========   =========
Assets of
Preferred
Shares:

Supplemental        Net assets, net of Preferred Shares,
Data:               end of period (in thousands)                  $ 165,468  $ 161,852  $  80,246  $  92,767   $  91,071
                                                                  =========  =========  =========  =========   =========
                    Preferred Shares outstanding, end of
                    period (in thousands)                         $  88,000  $  88,000  $  40,000  $  40,000   $  40,000
                                                                  =========  =========  =========  =========   =========
                    Portfolio turnover                               39.25%     37.77%     53.28%     60.52%      70.14%
                                                                  =========  =========  =========  =========   =========

Leverage:           Asset coverage per $1,000                     $   2,880  $   2,839  $   3,006  $   3,319   $   3,277
                                                                  =========  =========  =========  =========   =========
Dividends           Series A--Investment income--net              $     476  $     986  $     681  $     655   $     853
Per Share                                                         =========  =========  =========  =========   =========
On Preferred        Series B--Investment income--net              $     468  $     753         --         --          --
Shares                                                            =========  =========  =========  =========   =========
Outstanding:++++


                   *Annualized.
                  **Total investment returns based on market value, which can be
                    significantly greater or lesser than the net asset value, may result
                    in substantially different returns. Total investment returns exclude
                    the effects of sales charges.
                 ***Do not reflect the effect of dividends to Preferred Shareholders.
                  ++Includes Common and Preferred Share average net assets.
                ++++The Fund's Preferred Shares were issued on November 30, 1992
                    (Series A) and February 7, 2000 (Series B).
                 +++Aggregate total investment return.


                    See Notes to Financial Statements.
</TABLE>


MuniYield Pennsylvania Insured Fund, April 30, 2001


NOTES TO FINANCIAL STATEMENTS

1. Significant Accounting Policies:
MuniYield Pennsylvania Insured Fund (the "Fund") is registered under
the Investment Company Act of 1940 as a non-diversified, closed-end
management investment company. The Fund's financial statements are
prepared in conformity with accounting principles generally accepted
in the United States of America, which may require the use of
management accruals and estimates. These unaudited financial
statements reflect all adjustments, which are, in the opinion of
management, necessary to a fair statement of the results for the
interim period presented. All such adjustments are of a normal,
recurring nature. The Fund determines and makes available for
publication the net asset value of its Common Shares on a weekly
basis. The Fund's Common Shares are listed on the New York Stock
Exchange under the symbol MPA. The following is a summary of
significant accounting policies followed by the Fund.

(a) Valuation of investments--Municipal bonds are traded primarily
in the over-the-counter markets and are valued at the most recent
bid price or yield equivalent as obtained by the Fund's pricing
service from dealers that make markets in such securities. Financial
futures contracts and options thereon, which are traded on
exchanges, are valued at their closing prices as of the close of
such exchanges. Options written or purchased are valued at the last
sale price in the case of exchange-traded options. In the case of
options traded in the over-the-counter market, valuation is the last
asked price (options written) or the last bid price (options
purchased). Securities with remaining maturities of sixty days or
less are valued at amortized cost, which approximates market value.
Securities and assets for which market quotations are not readily
available are valued at their fair value as determined in good faith
by or under the direction of the Board of Trustees of the Fund,
including valuations furnished by a pricing service retained by the
Fund, which may utilize a matrix system for valuations. The
procedures of the pricing service and its valuations are reviewed by
the officers of the Fund under the general supervision of the Board
of Trustees.

(b) Derivative financial instruments--The Fund may engage in various
portfolio investment strategies to increase or decrease the level of
risk to which the Fund is exposed more quickly and efficiently than
transactions in other types of instruments. Losses may arise due to
changes in the value of the contract or if the counterparty does not
perform under the contract.

* Financial futures contracts--The Fund may purchase or sell
financial futures contracts and options on such futures contracts
for the purpose of hedging the market risk on existing securities or
the intended purchase of securities. Futures contracts are contracts
for delayed delivery of securities at a specific future date and at
a specific price or yield. Upon entering into a contract, the Fund
deposits and maintains as collateral such initial margin as required
by the exchange on which the transaction is effected. Pursuant to
the contract, the Fund agrees to receive from or pay to the broker
an amount of cash equal to the daily fluctuation in value of the
contract. Such receipts or payments are known as variation margin
and are recorded by the Fund as unrealized gains or losses. When the
contract is closed, the Fund records a realized gain or loss equal
to the difference between the value of the contract at the time it
was opened and the value at the time it was closed.

* Options--The Fund is authorized to write covered call options and
purchase put options. When the Fund writes an option, an amount
equal to the premium received by the Fund is reflected as an asset
and an equivalent liability. The amount of the liability is
subsequently marked to market to reflect the current market value of
the option written.

When a security is purchased or sold through an exercise of an
option, the related premium paid (or received) is added to (or
deducted from) the basis of the security acquired or deducted from
(or added to) the proceeds of the security sold. When an option
expires (or the Fund enters into a closing transaction), the Fund
realizes a gain or loss on the option to the extent of the premiums
received or paid (or gain or loss to the extent the cost of the
closing transaction exceeds the premium paid or received).

Written and purchased options are non-income producing investments.

(c) Income taxes--It is the Fund's policy to comply with the
requirements of the Internal Revenue Code applicable to regulated
investment companies and to distribute substantially all of its
taxable income to its shareholders. Therefore, no Federal income tax
provision is required.

(d) Security transactions and investment income--Security
transactions are recorded on the dates the transactions are entered
into (the trade dates). Realized gains and losses on security
transactions are determined on the identified cost basis. Interest
income is recognized on the accrual basis. The Fund will adopt the
provisions to amortize all premiums and discounts on debt securities
effective November 1, 2001, as now required under the new AICPA
Audit and Accounting Guide for Investment Companies. The cumulative
effect of this accounting change will have no impact on the total
net assets of the Fund. The impact of this accounting change has not
been determined, but will result in an adjustment to the cost of
securities and a corresponding adjustment to net unrealized
appreciation/depreciation, based on debt securities held as of
October 31, 2001.

(e) Dividends and distributions--Dividends from net investment
income are declared and paid monthly. Distributions of capital gains
are recorded on the ex-dividend dates. Distributions in excess of
realized capital gains are due primarily to differing tax treatments
for futures transactions.

2. Investment Advisory Agreement and Transactions with
Affiliates:
The Fund has entered into an Investment Advisory Agreement with Fund
Asset Management, L.P. ("FAM"). The general partner of FAM is
Princeton Services, Inc. ("PSI"), an indirect, wholly-owned
subsidiary of Merrill Lynch & Co., Inc. ("ML & Co."), which is the
limited partner.

FAM is responsible for the management of the Fund's portfolio and
provides the necessary personnel, facilities, equipment and certain
other services necessary to the operations of the Fund. For such
services, the Fund pays a monthly fee at an annual rate of .50% of
the Fund's average weekly net assets, including proceeds from the
issuance of Preferred Shares.

Prior to January 1, 2001, FAM provided accounting services to the
Fund at its cost and the Fund reimbursed FAM for these services. FAM
continues to provide certain accounting services to the Fund. The
Fund reimburses FAM at its cost for such services. For the six
months ended April 30, 2001, the Fund reimbursed FAM an aggregate of
$29,409 for the above-described services. The Fund entered into an
agreement with State Street Bank and Trust Company ("State Street"),
effective January 1, 2001, pursuant to which State Street provides
certain accounting services to the Fund. The Fund pays a fee for
these services.

Certain officers and/or trustees of the Fund are officers and/or
directors of FAM, PSI, and/or ML & Co.

3. Investments:
Purchases and sales of investments, excluding short-term securities,
for the six months ended April 30, 2001 were $95,807,169 and
$101,181,933, respectively.

Net realized gains for the six months ended April 30, 2001 and net
unrealized gains as of April 30, 2001 were as follows:


                                   Realized      Unrealized
                                    Gains          Gains

Long-term investments            $  1,634,911   $  9,579,298
                                 ------------   ------------
Total                            $  1,634,911   $  9,579,298
                                 ============   ============


As of April 30, 2001, net unrealized appreciation for Federal income
tax purposes aggregated $9,579,298, of which $10,718,741 related to
appreciated securities and $1,139,443 related to depreciated
securities. The aggregate cost of investments at April 30, 2001 for
Federal income tax purposes was $240,327,129.

4. Capital Share Transactions:
The Fund is authorized to issue an unlimited number of shares of
beneficial interest, including Preferred Shares, par value $.10 per
share, all of which were initially classified as Common Shares. The
Board of Trustees is authorized, however, to reclassify any unissued
shares of beneficial interest without approval of the holders of
Common Shares.

Common Shares
Shares issued and outstanding during the six months ended April 30,
2001 remained constant and during the year ended October 31, 2000
increased by 5,542,626 as a result of issuance of Common Shares from
reorganization.

Preferred Shares
Auction Market Preferred Shares ("AMPS") are Preferred Shares of the
Fund, with a par value of $.05 per share and a liquidation
preference of $25,000 per share, that entitle their holders to
receive cash dividends at an annual rate that may vary for the
successive dividend periods. The yields in effect at April 30, 2001
were 3.30% for Series A and 3.40% for Series B.

Shares issued and outstanding during the six months ended April 30,
2001 remained constant and during the year ended October 31, 2000
increased by 1,920 as a result of issuance of Preferred Shares from
reorganization.

The Fund pays commissions to certain broker-dealers at the end of
each auction at an annual rate ranging from .25% to .375%,
calculated on the proceeds of each auction. For the six months ended
April 30, 2001, Merrill Lynch, Pierce, Fenner & Smith Incorporated,
an affiliate of FAM, earned $57,632 as commissions.

5. Capital Loss Carryforward:
At October 31, 2000, the Fund had a net capital loss carryforward of
approximately $16,882,000, of which $1,807,000 expires in 2001,
$3,117,000 expires in 2002, $954,000 expires in 2003, $1,637,000
expires in 2006, $1,782,000 expires in 2007 and $7,585,000 expires
in 2008. This amount will be available to offset like amounts of any
future taxable gains.

6. Subsequent Event:
On May 8, 2001, the Fund's Board of Trustees declared an ordinary
income dividend to holders of Common Shares in the amount of
$.070000 per share, payable on May 30, 2001 to shareholders of
record as of May 16, 2001.



MuniYield Pennsylvania Insured Fund, April 30, 2001


MANAGED DIVIDEND POLICY

The Fund's dividend policy is to distribute all or a portion of its
net investment income to its shareholders on a monthly basis. In
order to provide shareholders with a more consistent yield to the
current trading price of shares of Common Shares of the Fund, the
Fund may at times pay out less than the entire amount of net
investment income earned in any particular month and may at times in
any month pay out such accumulated but undistributed income in
addition to net investment income earned in that month. As a result,
the dividends paid by the Fund for any particular month may be more
or less than the amount of net investment income earned by the Fund
during such month. The Fund's current accumulated but undistributed
net investment income, if any, is disclosed in the Statement of
Assets, Liabilities and Capital, which comprises part of the
Financial Information included in this report.



QUALITY PROFILE

The quality ratings of securities in the Fund as of April 30, 2001
were as follows:

                                        Percent of
S&P Rating/Moody's Rating               Net Assets

AAA/Aaa                                    84.2%
AA/Aa                                       5.6
A/A                                         3.1
BBB/Baa                                     2.7
Other*                                      3.0


*Temporary investments in short-term municipal securities.



MuniYield Pennsylvania Insured Fund, April 30, 2001



OFFICERS AND TRUSTEES

Terry K. Glenn, President and Trustee
M. Colyer Crum, Trustee
Laurie Simon Hodrick, Trustee
Stephen B. Swensrud, Trustee
J. Thomas Touchton, Trustee
Fred G. Weiss, Trustee
Vincent R. Giordano, Senior Vice President
William R. Bock, Vice President
Kenneth A. Jacob, Vice President
Donald C. Burke, Vice President and Treasurer
Alice A. Pellegrino, Secretary

Custodian
State Street Bank and Trust Company
225 Franklin Street
Boston, MA 02110


Transfer Agents
Common Shares:

State Street Bank and Trust Company
225 Franklin Street
Boston, MA 02110

Preferred Shares:

The Bank of New York
100 Church Street
New York, NY 10286


NYSE Symbol
MPA


Jack B. Sunderland and Arthur Zeikel, Trustees of MuniYield
Pennsylvania Insured Fund, have recently retired. The Fund's Board
of Trustees wishes Messrs. Sunderland and Zeikel well in their
retirements.




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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