2008-04-24 23:40:19 -

www.ml.com/ - Merrill Lynch & Co., Inc. (NYSE: MER) today announced that its Board of Directors has decided to ask shareholders to approve the declassification of the Board at the 2009 Annual Meeting of Shareholders. If the shareholders approve the proposal, all members of the Board of Directors will be elected annually for one-year terms commencing in

2009.

"The Board of Directors regularly reviews its governance practices to ensure it is operating efficiently, effectively, and in the best interests of shareholders," said John Thain, Chairman and Chief Executive Officer. "In discussions with investors, including recent conversations with CtW Investment Group, we have shared the Board's growing consensus that annual director elections are becoming a best practice. Today the Board agreed to move to this approach next year. Annual director elections will ensure that our investors have a regular opportunity to express their confidence in the performance of the Board and management."

In February, the Board amended the Company's Bylaws to adopt a majority vote standard for uncontested director elections.

Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.

Merrill Lynch & Co., Inc.
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