Merrill Lynch Elects Alberto Cribiore to Board of Directors

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NEW YORK, June 4, 2003 — Merrill Lynch & Co., Inc. (NYSE: MER) today announced the election of Alberto Cribiore to its Board of Directors. Mr. Cribiore, 57, is the managing partner of Brera Capital Partners, a global private equity investment firm that he founded in 1997.

"We are delighted that Alberto has agreed to join our Board," said Stan O'Neal, chairman and chief executive officer. "He has an outstanding track record as an investor and businessman, with extensive investment banking and asset management experience in U.S. and European markets. He brings keen insight across a number of industries, and is widely respected as a person of integrity, character and sound judgment."

His election increases to 11 the number of members on the Merrill Lynch board.

Mr. Cribiore, a native of Milan, Italy, is a cum laude graduate of Bocconi University in Milan and holds degrees in business administration and economics. Prior to forming Brera Capital Partners, Mr. Cribiore was co-president of Clayton, Dubilier and Rice, which he joined in 1985. He had previously been a senior vice president at Warner Communications where he was responsible for mergers, acquisitions and divestitures.

Mr. Cribiore serves on the boards of directors of 2-10 Home Buyers Warranty, GAB Robins, Western Industries, Inc. and Riverwood International Corporation, all privately held companies. He is also a member of the Board of Trustees of Reed College, a director of the Metropolitan Opera and The Council for the United States and Italy. Mr. Cribiore lives in New York City with his wife and two children.

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 $1.1 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.contacts

Contact:
Paul Critchlow 212.449.9900