<ARTICLE> 5
<LEGEND> This schedule contains summary financial information extracted from
Consolidated Statements of Financial Condition, Consolidated Statements of
Income, Consolidated Statements of Changes in Partners' Capital and is
qualified in its entirety by reference to such financial statements. 
</LEGEND>
<CIK>      0000925433
<NAME>     ML Principal Protection Plus L.P.
       
                             
<PERIOD-TYPE>                   5-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAY-31-1996
<CASH>                                             856
<SECURITIES>                                79,566,875
<RECEIVABLES>                                9,434,252
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            89,001,983
<PP&E>                                               0     
<DEPRECIATION>                                       0   
<TOTAL-ASSETS>                              89,001,983
<CURRENT-LIABILITIES>                        4,500,971
<BONDS>                                              0
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  84,501,012
<TOTAL-LIABILITY-AND-EQUITY>                89,001,983
<SALES>                                              0
<TOTAL-REVENUES>                             2,767,766                 
<CGS>                                                0         
<TOTAL-COSTS>                                2,148,166
<OTHER-EXPENSES>                                 1,846
<LOSS-PROVISION>                                     0     
<INTEREST-EXPENSE>                                   0      
<INCOME-PRETAX>                                617,754      
<INCOME-TAX>                                         0     
<INCOME-CONTINUING>                                  0     
<DISCONTINUED>                                       0 
<EXTRAORDINARY>                                      0     
<CHANGES>                                            0 
<NET-INCOME>                                   617,754
<EPS-PRIMARY>                                      .75
<EPS-DILUTED>                                      .75