Merrill Lynch Selects Marquis Jet as Exclusive Private Aviation Partners; Unique Rewards and Benefits to be Made Available Only to MERRILL + and Visa Signature

New York, NY

December 7, 2004p. NEW YORK—(BUSINESS WIRE)—Dec. 7, 2004—Merrill Lynch (NYSE: MER) today announced that it has selected Marquis Jet(SM), the recognized global leader in private jet card programs, as its exclusive private aviation partner. MERRILL+(SM) and Merrill Lynch Visa® Signature cardholders will be provided with unique, exclusive rewards and benefits including the unprecedented opportunity to purchase flight time with Marquis Jet using their cards.

“Our clients demand the best when it comes to their private jet travel experience, which is why we have constructed one of the most valuable programs for individuals seeking to fly privately,” said Peter Barsoom, director of card payments for Merrill Lynch. “Partnering with Marquis Jet provides clients and cardholders access to the leading private jet company and an incredible value in luxury amenities. This new partnership is another way we touch every aspect of our clients’ lifestyle through Total Merrill.”

MERRILL+ (Level 3) and Merrill Lynch Visa Signature cardholders who purchase a 25-hour Marquis Jet card will have their choice of either an additional free flight hour or a one-way aircraft upgrade, compliments of Merrill Lynch. In addition, Marquis Jet will now be a participant in the Merrill Lynch rewards programs, allowing cardholders to redeem points toward private jet flight hours.

MERRILL+ and Visa Signature cardholders will be provided a full aviation consultation and needs-analysis upon contacting Marquis Jet. Merrill Lynch clients who express an interest in the program will also have an exclusive, one-time opportunity to purchase a one-way or roundtrip flight to experience the Marquis Jet Card program.

The Marquis Jet fleet is provided by NetJets® through an exclusive alliance between the two companies. NetJets, a Berkshire Hathaway Inc. (NYSE: BRKa) company, is the worldwide leader in fractional jet ownership.

“Merrill Lynch spent a considerable amount of time performing due diligence on all available private jet card programs and we are very pleased that Marquis Jet was selected as their exclusive partner,” said Ken Austin, Executive Vice President of Marquis Jet. “Our ability to deliver access to NetJets fleet 25-hours at a time enables us to offer access to the safest, largest and most diversified fleet of private jet aircrafts in the world. We believe NetJets safety, security, and personal service along with the special client benefit package provided by Merrill Lynch will bring superior value to clients.”

Merrill Lynch cardholders electing to renew their Marquis Jet Card will again have their choice of either an additional free flight hour or a one-way aircraft upgrade for their first two renewals. Additionally, clients who join the Marquis Jet Card program and then refer a friend to purchase a Marquis Jet Card will receive a complimentary flight hour on a Citation V Ultra or a Bang&Olufsen BeoSound 3200 Music System with BeoLab 4000 loudspeakers.

For more information about the MERRILL+ Visa credit card, please visit www.card.ml.com , or for the Visa Signature card, please visit www.signaturerewards.ml.com .

ABOUT MERRILL LYNCH

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 $1.5 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. Firm-wide assets under management total $478 billion. For more information on Merrill Lynch, please visit www.ml.com .

ABOUT MARQUIS JET

Marquis Jet is the recognized global leader in private jet cards. Through its exclusive alliance with NetJets, Marquis Jet provides the convenience, quality and safety of the world’s premier fractional aircraft ownership program 25 hours at a time. The Card is available throughout North America and Europe, catering to businesses and individuals who desire access to the world’s best fleet and service. Marquis Jet also recently added the Boeing Business Jet Club to its services, offering exclusive access to the largest and most luxurious private jet available today. In 2004, Business Traveler Magazine, Executive Travel Magazine and Flight International recognized the Marquis Jet Card as the best in the industry. For additional information, visit the Company’s website at www.marquisjet.com .