Auction Rate Securities

Auction Rate Security Documents

Merrill Lynch is pleased to announce its Auction Rate Securities Program (the “ML ARS Program”), including its Offer to Purchase being made by Merrill Lynch, Pierce, Fenner & Smith Incorporated and its designated affiliates. The ML ARS Program and the Offer cover certain publicly offered auction rate securities issued by municipalities or closed-end funds and publicly offered auction rate securities backed by student loans (“ARS”) that were purchased from Merrill Lynch by, or are held at Merrill Lynch by, individual, not-for-profit and small business clients of the Merrill Lynch Global Wealth Management business that meet certain eligibility thresholds

The documents below will provide additional details on the ML ARS Program.

January Eligible Important Notice (PDF)   This Important Notice will provide you with information about the Merrill Lynch Auction Rate Security Program, including the eligibility requirements for the Offer to Purchase beginning on January 2, 2009 to January 15, 2010. October Eligible Notice (PDF)   This Important Notice will provide you with information about the Merrill Lynch Auction Rate Security Program, including the eligibility requirements for the Offer to Purchase starting on October 1, 2008 and continuing to January 15, 2010. Eligible Auction Rate Securities List (PDF)   The attachment contains the security details for the ML ARS Program. Only municipality-issued, closed end fund-issued and student loan-backed auction rate securities are eligible for purchase under the Merrill Lynch liquidity program

Former Clients Who Currently Own Merrill Lynch Auction Rate Securities

The below documents are required in order to facilitate the buy back process for former Merrill Lynch clients who currently own an eligible Auction Rate Security.

Letter of Instruction (PDF)   This form is only to be utilized by former clients of Merrill Lynch who currently own eligible Auction Rate Securities (as described in the Important Notices) and wish to participate in the buy back program. The form must be sent to your current financial institution in order to deliver the Auction Rate security to Merrill Lynch. W-9 Form (PDF)   Complete Form W-9 if you are a U.S. person (including a resident alien), to provide your correct TIN to Merrill Lynch. You must complete this form to certify that the TIN you are providing is correct, certify that you are not subject to backup withholding, or claim exemption from back up withholding if you are a U.S. exempt payee. W-8 BEN Form (PDF)   Complete Form W-8 BEN and return it to Merrill Lynch if you are a foreign person and you are the beneficial owner of an amount subject to withholding, whether or not you are claiming a reduced rate of, or exemption from, withholding.