Merrill Lynch Expands the Consults Diversified Portfolios Private Account Platform.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 17, 2003

Three Non-proprietary Offerings Now Join Merrill Lynch 

Investment Managers on the Diversified Portfolios Roster

Merrill Lynch (NYSE: MER) today announced it has launched its next generation of Consults(R) Diversified Portfolios (CDP), adding PIMCO Advisors, CDC IXIS Asset Management Advisors Group, and AIM/INVESCO to the CDP roster.

These three non-proprietary offerings are launched after last year's highly successful introduction of CDP, with a flagship offering from Merrill Lynch Investment Managers (MLIM).

"This expansion enables Merrill Lynch Financial Advisors to offer clients another option for diversified investment solutions," says John P. Galvin, Head of the Merrill Lynch Consults privately managed account service. "As with MLIM, PIMCO Advisors, CDC IXIS Asset Management Advisors Group, and AIM/INVESCO are well-known and highly-regarded participants in the Consults service. We are confident that our clients will benefit from the combination of the rigorous due diligence process of Consults and the investment and risk-management expertise of these managers."

The Diversified Portfolios utilize the logic and discipline of the Consults four-step process: investment strategy review, portfolio structure and manager selection, professional portfolio management, and goal monitoring. At the same time, clients are provided with a single privately managed account, which will be diversified among various asset classes and investment styles.

Each CDP, corresponding to the degree of risk the client elects to accept, represents a different combination of large-cap value, large-cap growth, small/mid-cap, international and, where appropriate, fixed income investments. Investment teams specializing in the particular asset class/investment styles manage each separately.

Prior to the launch of CDP, clients who wished to obtain this level of diversification within a privately managed account through the Consults service would have needed at least four to five individual Consults accounts to match the benefits and style diversification of a single Consults Diversified Portfolio.

"In looking at a client's financial life holistically, we believe CDP assists in obtaining a comprehensive wealth management strategy," said Mr. Galvin. "Private account management, when appropriate, provides access to leading money managers, a wide variety of investment styles, tax efficiencies, and more."

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 $1.3 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. For more information on Merrill Lynch, please visit www.ml.com.