NEW YORK, Oct. 30 /PRNewswire/ -- Merrill Lynch & Co., Inc., (NYSE: MER)
has approved a plan to build a new facility in Hopewell, New Jersey to
consolidate existing operations and allow for future expansion.
    The plan calls for the purchase of 450 acres to develop in the first phase
up to six separate buildings, each to be approximately 160,000 square feet in
size.  Future phases will be constructed as business needs dictate.
Construction of a first building is currently scheduled to start in Spring,
1999, with initial occupancy projected for late 2000.
    The plan is subject to various contingencies including agreements by
Bristol Myers Squibb to sell the land to Merrill Lynch, and by the Hopewell
Township for development approvals.
    "Merrill Lynch is committed to New Jersey," said David H. Komansky,
Merrill Lynch Chairman and Chief Executive Officer.  "As a leader in global
financial services, with over 880 offices worldwide, our office expansion in
Hopewell makes sound business sense, and gives us an opportunity to further
attract a highly skilled and diversified work force."
    Merrill Lynch has approximately 10,300 employees throughout New Jersey.
Initial occupancy of the Hopewell facility will include 3500 employees
currently located in New Jersey, with space available for future expansion.
The site is located on I-95 & Scotch Road.
    "This is a very important and welcomed announcement for New Jersey," said
Governor Christine Todd-Whitman.  "Merrill Lynch's decision to develop a new
site in Hopewell Township retains 3500 jobs and will potentially add an
additional 1500.  We will continue to work with firms such as Merrill Lynch to
help us shape our growth in a way that maintains New Jersey's beauty and
quality of life," the Governor said.
    This announcement concludes almost two years' of site search and
evaluations by Merrill Lynch's Corporate Real Estate group.  The selection of
Hopewell, New Jersey is the result of the efforts of the Governor's Business
Development Office, Hopewell Township and the Mercer County Economic
Development.
    Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 40 countries.  As an investment bank, it is
the top global underwriter and market maker of debt and equity securities and
a leading strategic advisor to corporations, governments, institutions, and
individuals worldwide.  Through Merrill Lynch Asset Management, a wholly owned
subsidiary, Merrill Lynch operates one of the world's largest mutual fund
groups.

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