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MUNIYIELD ARIZONA FUND TRADES ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, Aug. 16 /PRNewswire/ -- The American Stock Exchange announced that it has commenced trading the initial public offering of the common shares of MuniYield Arizona Fund, Inc. The Fund, trading under ticker symbol "MZA", opened at 11:30 a.m. at 15 (bid) to 15 1/8 (ask).
 J. Streicher & Co. has been selected as the Fund's specialist firm.
 MuniYield Arizona Fund is a newly organized, non-diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of current income exempt from Federal and Arizona income taxes, consistent with the preservation of capital. The Fund will seek to invest substantially all of its assets in a diversified portfolio of investment grade municipal obligations.
 The Fund's initial public offering consists of 2,200,000 common shares with an over-allotment option of 330,000 shares. The Fund's investment adviser is a wholly-owned subsidiary of New Jersey-based MLAM, which is an indirect, wholly-owned subsidiary of Merrill Lynch & Co., Inc.
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 8/16/93
 /CONTACT: Melissa Grand, manager - communications, of American Stock Exchange, 212-306-1635/
 (MZA)


CO: MuniYield Arizona Fund, Inc. ST: Arizona IN: FIN SU:

MP -- NY065 -- 3066 08/16/93 12:08 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:265
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