Amex Lists Dow Jones Industrial Average MITTS - New $52 Million Issue Offers Investors Exposure to Thirty Blue Chip Stocks Through Single Shares With Downside Protection

The American Stock Exchange ON June 23 began trading Merrill Lynch & Co., Inc. Dow Jones Industrial Average Market Index Target-Term Securities® , or MITTS® . Trading under the ticker symbol MDJ, the new seven-year securities were issued at $10 each. Dow Jones Industrial Average MITTS offer upside participation in the performance of the Dow Jones Industrial Average, along with the assurance that 100% of the principal amount will be returned at maturity on June 26, 2006. If upon maturity the Dow Jones Industrial Average has increased from its starting value of 10,721.63, holders are entitled to receive the principal amount of $10, plus the supplemental redemption amount, if any. "Merrill Lynch has created an efficient and inexpensive way for investors to gain exposure to the world's best-known market indicator," said Richard A. Mikaliunas, senior vice president of capital markets at the Nasdaq-Amex Market Group. "Through single shares, investors can participate in the upside performance of a venerable index while benefiting from the guarantee of principal preservation at maturity." The issuer for the Dow Jones Industrial Average MITTS is Merrill Lynch & Co. and the underwriter for the new listing is Merrill Lynch & Co. The Amex Specialist unit for the new listing is LETCO-Specialist, L.P. The Dow Jones Industrial Average is a price-weighted index published by Dow Jones & Company, Inc. The Index is designed to provide an indication of the composite price performance of 30 common stocks of corporations representing a broad cross-section of U.S. industry. The corporation represented in the Index tend to be market leaders in their respective industries and their stocks are typically widely held by individuals and institutional investors. The Amex trades options on 30 broad-based and sector indexes and 1,124 domestic and foreign stocks, as well as Long-term Equity AnticiPation Securities® (LEAPS®) on 121 stocks. Amex is a leader in listing warrants on indexes, hybrid instruments and other structured products. The Amex is home to the Index ShareTM Marketplace, which includes SPDRs®, Select Sector SPDRs®, DIAMONDSSM, MidCap SPDRsTM, WEBSTM and Nasdaq-100 SharesSM. The Nasdaq-Amex Market GroupSM, which operates The Nasdaq Stock Market® and the American Stock Exchange®, is a subsidiary of the National Association of Securities Dealer, Inc. (NASD®), the largest securities-industry, self-regulatory organization in the United States. The union of Nasdaq® and Amex® creates the world's first financial market that brings together central auction specialist and multiple Market Maker systems.