PRESS RELEASE
Published on February 10, 2004
Exhibit 99.1
News
Merrill Lynch & Co., Inc.
World Headquarters
[LOGO]Merril Lynch 4 World Financial Center
New York, New York 10080
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Release date: February 10, 2004
For information contact:
Media Relations:
Michael O'Looney
(212) 449-9205
michael_olooney@ml.com
Investor Relations:
Tina Madon
(866) 607-1234
Investor_Relations@ml.com
MERRILL LYNCH ANNOUNCES SHARE REPURCHASE PROGRAM
NEW YORK, February 10 - Merrill Lynch (NYSE: MER) today announced that
its board of directors has authorized the repurchase of up to $2 billion of the
company's outstanding common shares.
"This repurchase program underscores the financial strength of Merrill
Lynch," said Ahmass Fakahany, executive vice president and chief financial
officer. "Over the past two years we have demonstrated the ability to grow our
businesses and to generate substantial levels of capital. We are confident that
Merrill Lynch can both invest in the growth initiatives that are key to our
future success and take this step to enhance returns. Our balance sheet and
liquidity are strong, and we will continue to actively manage our capital base
as we strive to sustain high levels of performance for our clients and
shareholders."
The authority will be exercised from time to time as market conditions
warrant and subject to regulatory considerations. Any repurchases are intended
to make appropriate adjustments to the company's capital structure and are for
general corporate purposes.
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Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 35 countries and total client assets of
approximately $1.5 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, with assets under management of $500 billion. For more
information on Merrill Lynch, please visit www.ml.com.
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