X0101 EFFECT 33 LIVE 2006-06-19

N-14

0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST 333-133972 0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST S000004035 Merrill Lynch Pennsylvania Municipal Bond Fund 0000844779 BLACKROCK FUNDS S000001883 BLACKROCK PA TAX-FREE INCOME PORTFOLIO C000004940 INSTITUTIONAL 0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST S000004035 Merrill Lynch Pennsylvania Municipal Bond Fund 0000844779 BLACKROCK FUNDS S000001883 BLACKROCK PA TAX-FREE INCOME PORTFOLIO C000004941 SERVICE 0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST S000004035 Merrill Lynch Pennsylvania Municipal Bond Fund 0000844779 BLACKROCK FUNDS S000001883 BLACKROCK PA TAX-FREE INCOME PORTFOLIO C000004942 INVESTOR A 0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST S000004035 Merrill Lynch Pennsylvania Municipal Bond Fund 0000844779 BLACKROCK FUNDS S000001883 BLACKROCK PA TAX-FREE INCOME PORTFOLIO C000004943 INVESTOR B 0000774013 MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST S000004035 Merrill Lynch Pennsylvania Municipal Bond Fund 0000844779 BLACKROCK FUNDS S000001883 BLACKROCK PA TAX-FREE INCOME PORTFOLIO C000004944 INVESTOR C