Ambassador Richard McCormack Joins Merrill Lynch as Vice Chairman

NEW YORK--()--July 17, 2006--Merrill Lynch & Co., Inc. (NYSE: MER) today announced that Richard (Dick) McCormack, former Under Secretary of State for Economic and Agricultural Affairs and U.S. Ambassador to the Organization of American States, will join the company as vice chairman, effective August 1. Mr. McCormack will focus on strengthening the firm's relationships with governments, corporations and investors around the world. He will also advise on strategy and policy matters, and strategic investment opportunities.

Mr. McCormack served as senior advisor to the Center for Strategic and International Studies (CSIS) from March 2004 until July 2006. CSIS, under the chairmanship of former U.S. Senator Sam Nunn, is one of the country's most respected public policy institutions. Mr. McCormack advised on global financial systemic risk and on select foreign policy issues, consulting with political and financial leaders throughout the world.

Prior to his role with CSIS, Mr. McCormack consulted with major corporations, political leaders and government officials. Between 1989 and 1991, he served as Under Secretary of State for Economic and Agricultural Affairs, where he was the principal coordinator for President George H.W. Bush's involvement in the G-7 economic summits. He was awarded the State Department's highest honor by then Secretary of State, James A. Baker III.

"We are extremely fortunate to have Dick McCormack join Merrill Lynch," said Greg Fleming, president of the firm's Global Markets & Investment Banking group. "Dick has earned a strong reputation as a thought-leader among government officials, finance ministers, and leaders across both the public and private sectors. We are delighted to have him join the Merrill Lynch team and look forward to his contributions to our business development efforts globally."

"I am excited to be joining Merrill Lynch and look forward to contributing to the firm's future business growth," said Mr. McCormack. "Merrill Lynch has a great reputation as a premier global financial institution and has demonstrated tremendous business momentum over the last few years under the leadership of Stan O'Neal and his team."

Mr. McCormack served as the U.S. Ambassador to the Organization of the American States during the Reagan administration, and he received the Superior Honor Award for outstanding sustained performance during that period. From 1982 to 1985, he served as Assistant Secretary of State for Economic and Business Affairs. Earlier in his career, Mr. McCormack served as a policy analyst in both the House and U.S. Senate, was deputy to the Assistant Secretary of the Treasury, and a senior staff member of the President's Advisory Council on Executive Organization at the White House.

Mr. McCormack received his Ph.D magna cum laude, from the University of Freiburg in Switzerland in 1966, and his BA from Georgetown University in 1963.

Merrill Lynch is one of the world's leading financial management and advisory companies, with offices in 36 countries and total client assets of approximately $1.8 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. Firmwide, assets under management total $581 billion. For more information on Merrill Lynch, please visit www.ml.com.

Contacts

Merrill Lynch & Co., Inc., New York
Media Relations:
Jessica Oppenheim, 212-449-2107
Jessica_Oppenheim@ml.com

Contacts

Merrill Lynch & Co., Inc., New York
Media Relations:
Jessica Oppenheim, 212-449-2107
Jessica_Oppenheim@ml.com