Certificates of Deposit: Estimated market value reflects interest rate fluctuations and customary transaction costs. The full face value of certificates of deposit plus interest, if applicable, is paid at maturity.

Commercial Paper: Extended at par for tabulating purposes.

Mortgaged-Backed and Asset-Backed Securities: Estimated market value is calculated by multiplying the amortized value by the estimated market price divided by 100. Monthly principal payments and principal prepayments may cause the estimated annual income from such securities to change.

Fixed Income Securities: The market value of a security holding is calculated by multiplying the quantity held by the market price, if available. Fixed-income securities are traded primarily in over-the-counter markets and are valued at the most recent bid or yield equivalent. Less actively traded issues may be priced by using a yield based on a matrix system and may not reflect an actual market price but rather a mathematical approximation derived by computer. Although we strive to provide accurate prices, in some instances they may not closely reflect the value at which the securities could be sold.

Margin Lending Program
The net amount of credit available through the Margin Lending Program service (formerly referred to as Borrowing Power). This amount will not be included in the Authorized Limit when the account does not meet the $2,000 New York Stock Exchange minimum equity requirement.

Cash Dividend
Dividends earned on CMA^® funds that are less than one full share are credited to your account as Cash. Cash dividends are received whenever any CMA^® funds in the account are fully redeemed.

Estimated Accrued Interest
The estimated amount of interest that would be paid upon a sale, calculated from the last coupon interest date or dated date, up to but not including, the statement closing date.

Total Income
The sum of all cash dividends and interest received by Merrill Lynch from the securities we hold in your account as well as the value of share dividends on your CMA^® funds and interest on your ISA^® balance and balances at Merrill Lynch Bank USA. This figure does not include gains from the sale of investments.

Minimum Account Balance
The amount you last requested as the minimum balance to be maintained in your CMA^® Money Accounts (the CMA^® money market funds and/or ISA^® balance) through the CMA^®/WCMA^® Directed Reserve^SM program.

Closing Debit
If your CMA^® Visa^® Program subscription is terminated during the month, all retail card charges are automatically debited from your account at the time the account is closed. Any retail card charges presented after the closing date are charged to your account as they are received.

(U-1) Debit
Any CMA Access^SM Visa or CMA^® Visa^® Signature^® Program retail charges exceeding $100,000 in any one month when there is not a Federal Reserve Form U-1 on file for your account.

Month-End Debit
The total amount of your CMA Access^SM Visa or CMA^® Visa^® Signature Program retail card purchases are debited from your account on the Wednesday before the last Friday of each month.

Standing Instructions
Indicates how often and from which institution(s) your pre-authorized funds transfer(s) will occur through the Funds Transfer Service (FTS). Also indicates your participation in the CMA^® Automated Investment Program by giving you the frequency and amount of your mutual fund purchase(s).

Employer Identification Number
No Employer Identification Number (EIN) is required for an IRA, IRRA, SEP, or 403 (b). For a Basic Plan, for both employer and employee participants, the number is the nine-digit EIN assigned to the employer/plan sponsor by the IRS. An employer/plan sponsor should obtain a separate EIN for the business covered by the plan from the IRS by completing IRS form SS-4.

Plan Summary
Value of the assets in your account for which market prices are readily available and any cash balance as of the closing date of the statement. Prices for assets that are not publicly traded, other than limited partnerships and other direct investments reported in the "Independently Valued Direct Investments" section of the account statement, may reflect the initial offering or purchase price, or a price provided to Merrill Lynch by the Client and not the current value.

Dividend/Interest
Monthly and year-to-date dividends and interest earned on your security positions. If your account has been transferred from another Merrill Lynch office, refer to your previous statement for complete dividend/interest information. Dividends and Interest earned in your Retirement Plan are normally not reported to the IRS nor are they taxable until they are distributed. Contact a Merrill Lynch Financial Consultant if you hold a Limited Partnership that may generate Unrelated Business Taxable Income. Some mutual funds may withhold taxes on undistributed long-term capital gains. Contact a Merrill Lynch Financial Consultant for further information.

Employer: For Basic, SEP Plus, or 403(b) participants, the contribution for the tax year indicated made to your account by your employer. (This does not include Salary Deferral contributions, if any.)

Salary Deferral: SEP and 403 (b) contributions your employer has made to your plan as a result of your election to defer a portion of your annual compensation.

IRA Contributions Designated as Nondeductible: That portion of your IRA contributions you have requested Merrill Lynch to record as non-deductible for Federal Income Tax purposes. (Please note that Merrill Lynch, as a service, maintains a cumulative record of the amount so designated by you, but it is your responsibility to determine and report the appropriate deductible/non-deductible contribution amounts on your Federal Income Tax return. The amount of non-deductible contributions indicated on your statement may not be accurate if you now maintain, or have ever maintained, an IRA with another firm or institution as custodian or trustee, if any portion of your IRA is transferred from your account, whether incident to a divorce or otherwise, or if you fail to notify Merrill Lynch of any change in the deductible/non-deductible status of your contributions.)

Contributions for Tax Year YYYY Made in YYYY: IRA or SEP/IRA contributions made between January 1 and April 15 for the previous tax year. Basic plan and 403 (b) employer contributions may also be made after the end of the employer's fiscal year.

Transfers In: Retirement plan assets received directly from a previous custodian or trustee, other than rollover deposits to your retirement plan account.

Voluntary Distributions: Distributions recorded as a return of your voluntary contributions in your Basic Plan account based on the information furnished to Merrill Lynch by your Plan Administrator.

Reportable Distributions: All distributions made from your account and paid to you during the year ending December 31 that Merrill Lynch will report to the IRS as required by law.

Taxes Withheld: Federal and/or state income taxes withheld by Merrill Lynch on distributions made from your account during the year ending December 31.

Deposits of Income Tax Withheld: Deposits of income tax withholding on distributions from Basic (Keogh Plus) and Retirement Selector accounts.

Premium Payments: Payments made from your account to fund an insurance contract and not reported as taxable distributions. However, the current cost of life insurance protection is taxable and reportable to the IRS annually.

Custodial Fee Charge: Fee charge based on most recent available quarter's account valuation. A final processing fee will be charged if the account is closed or transferred and the custodial fee for that year has not been charged. Additional fees may be charged for assets that require special custodial services.

Special Note on Retirement Plan Accounts Holding Annuities: Insurance contract information is provided by the insurance company that issued the contract. Values for annualized contracts are shown on the December statement to provide account values as of December 31 for federal tax reporting purposes only. Annuitized contracts do not necessarily have available cash values. Contract provisions can be obtained from the issuing insurance company.

Unless you give us other instructions, we will hold for your account any securities you purchase and the proceeds of any securities you sell.

Depository institutions participating in the ISA^® program and Merrill Lynch Bank USA in the Enhanced CMA^® program pay us a fee up to 2% per annum of the average daily depository account balances in each program, respectively.

We are required by law to report to the IRS certain dividends and registered bond interest credited to your account. Limited partnership distributions that are credited to your account are based on records of the General Partner. The General Partner will report to the IRS distributions made to you.

Trades made before the closing date of this statement that settle after that date will appear on your next statement.

We trade for our own account as an odd lot dealer, a block positioner, and/or arbitrageur. At the time of any transaction in your account, we may have a long or short position in the same security, and our position may be completely or partially hedged.

Precious metals appearing on your statement are held by depositories under contract with us. They have no loan value, are not subject to coverage by the Securities Investor Protection Corporation, and are subject to storage fees at our current rates.

We can use your closing credit balance in our business subject to the limitations of 17 CFR Section 240.15c3-3 under the Securities Exchange Act of 1934. You have the absolute right to receive, in the normal course of business, any free credit balance and any fully paid securities to which you are entitled, subject to any open commitments in any of your accounts. You are entitled to receive securities purchased through the Margin Lending Program service upon full payment of any indebtedness to us.

If this statement is for a margin account maintained through the Margin Lending Program service, it is a combined statement of your general account and special memorandum account maintained for you under Section 6 of Regulation T, issued by the Board of Governors of the Federal Reserve System. The permanent record of the separate account, as required by Regulation T, is available for your inspection upon request.

You should retain this statement of account for use in conjunction with your next statement to calculate Margin Lending Program service interest charges, if any, for the period covered by this statement. The interest charge period will parallel the statement period, except that interest due for the final day of the statement period will be carried over and appear on the next month's statement.

Interest charges incurred in connection with the Margin Lending Program service are due and payable on the business day prior to the statement close date. The exact amount may be obtained from a Merrill Lynch Financial Consultant. If the interest is not paid in full when due, the unpaid amount will be charged to your account and added to your principal, upon which interest will be charged.

Your Authorization Limit may not be increased to reflect checks or other negotiable instruments for up to 15 days following our receipt of them. However, this procedure will not delay your investment or deposit through the Money Accounts. For funds transferred to us electronically through the FTS, we reserve the right, subject to applicable law, not to allow withdrawals of the proceeds until such time as we feel funds have been collected from the drawee bank.

Please read "Agreement Regarding Your Securities Account and Other Important Information" printed at the end of your statement.