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Merrill Lynch Hires Neil MacKinnon as Senior Currency Strategist

    NEW YORK, July 28 /PRNewswire/ -- Merrill Lynch is pleased to announce the
appointment of Neil MacKinnon as Senior Currency Strategist.
    Mr. MacKinnon will develop short-term investment strategies for clients
and work closely with the global economics team to form Merrill Lynch's
long-term outlook for major world currencies.  Mr. MacKinnon will be based in
London, and will report directly to Jim Winder, Manager of Global Economics in
New York.
    "Neil brings an unrivalled breath of experience to this important role,"
said Mr. Winder. "Together with our existing global foreign-exchange team,
Neil will provide in-depth analysis and creative solutions for our client's
complex needs."
    Mr. MacKinnon most recently worked for Citibank as Chief Currency
Strategist, and previous to that for Yamaichi International as Head of
Investment Strategy.  In 1998, Mr. MacKinnon won awards for Best Foreign
Exchange Research in both Euromoney and Foreign Exchange & Money Market
magazines.

    Notes for Editors

    1.  Merrill Lynch is one of the world's leading financial management and
        advisory companies, with a presence in 41 countries around the world.
    2.  Merrill Lynch Global Securities Research and Economics has more than
        700 analysts in 27 countries.
    3.  Merrill Lynch is the only firm to place first in five of the six
        Institutional Investor research team surveys (U.S. Equity, U.S. Fixed
        Income, Latin America, Europe and Asia).
    4.  Merrill Lynch was voted Best Firm for Research, All Categories, in
        Euromoney's 1999 Awards for Excellence.
    5.  The firm ranked first in The Wall Street Journal 1999 All-Star
        Analysts Survey.
    6.  Merrill Lynch was voted the best pan-European research house in the
        1999 Extel survey of investment analysts.
    7.  Merrill Lynch was ranked number one in the 1999 Reuters/Tempest
        surveys for European Larger Company Research and UK Larger Company
        Research.
    8.  Merrill Lynch has been ranked top in the 10 in the annual Euromoney FX
        surveys for the last three years.
    9.  The firm ranked first in the 1998 Financial News'  "Poll of Polls," a
        summary of nine equity research surveys from around the world.

                                    Biography
                                  Neil MacKinnon

    -- Ranking / Awards

    Euromoney magazine      - Best FX research 1998, 1997, 1995, 1994 and 1993
    FX & MM                 - Best FX research 1998, 1997, 1996, 1995 and 1993
    FX & MM                 - Best Currency Strategist 1994
    Institutional Investor  - Runners-up category, Best FX Research 1997
                            - No. 2, Best FX Research 1996
    -- Education

    Under Graduate:
       Degree:  BA Honours       Discipline/Major:  Economics
       School:  University of Liverpool

    Graduate:
       Degree:  MSc              Discipline/Major:  Economics and Econometrics
       School:  University of Southampton

    -- Professional Designations / Affiliations

    Member of the American Economic Association
    Member of Society of Business Economists
    Member of Association of Corporate Treasurers Panel of Distinguished
     Economists

    -- Previous Work Experience

    1992 - 1998     Citibank, Chief Currency Strategist
    1989 - 1992     Yamaichi International, Head of Investment Strategy
    1988 - 1989     Chase Investment Bank, Senior Economist
    1986 - 1988     Nomura Securities, Senior Economist
    1982 - 1986     HM Treasury, Economist


SOURCE Merrill Lynch & Co., Inc.




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