Merrill Lynch Appoints George H. Young III Global Head of Technology, Media and Telecommunications Investment Banking

NEW YORK--(BUSINESS WIRE)--Merrill Lynch & Co., Inc. (NYSE: MER) today announced that George H. Young (Woody) III has joined Merrill Lynch as global head of Technology, Media and Telecommunications (TMT) Investment Banking. Mr. Young will be based in New York.

“Woody brings to Merrill Lynch vast international experience having led strategic and financing transactions across the globe and played a leading role in many of the transforming transactions in the communications industry over the last decade. We are delighted to have Woody join our firm.”

Gregory J. Fleming, president and COO of Merrill Lynch, said, "Woody is one of the most respected and experienced bankers in this sector. His considerable knowledge and industry expertise will ensure that our TMT business continues to excel as a best in class provider of advice and solutions to clients."

“Merrill Lynch views TMT as a key growth area,” said Andrea Orcel, head of global origination at Merrill Lynch. "Woody brings to Merrill Lynch vast international experience having led strategic and financing transactions across the globe and played a leading role in many of the transforming transactions in the communications industry over the last decade. We are delighted to have Woody join our firm.”

Mr. Young was head of the Global Communications group at Lehman Brothers Inc. until March, 2007. He was also a member of Lehman’s Investment Banking Division Executive Committee, a member of the firm’s Strategy Committee, and served as chairman of the firm’s Senior Client Council.

Some key deals Mr. Young has advised on include:

- AT&T on its $90 billion acquisition of BellSouth

- Verizon on its sale of its Latin American businesses

- Cingular on its $47 billion merger with AT&T Wireless

- SBC on its $22 billion merger with AT&T

- Sprint on its $46.5 billion merger with Nextel

- U S WEST on its $56 billion defense/merger with Qwest

- Belgacom on its $12 billion restructuring and IPO

Prior to joining Lehman Brothers in 1994, Mr. Young spent seven years at The First Boston Corporation in its Mergers & Acquisitions group. He served as a White House Fellow and special assistant to the U.S. Deputy Secretary of the Treasury, where he concentrated on international affairs from 1991 to 1992. Mr. Young is also a member of the Council on Foreign Relations.

Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies with $1.4 trillion in assets under management at June 30, 2008. For more information on Merrill Lynch, please visit www.ml.com.