Investor Profile Descriptions

Capital Preservation
Objective is to maintain capital. Adjusted for inflation, investment returns may be very low or in some years, negative, in exchange for high liquidity and reduced risk of principal loss.

Income
Objective is to obtain a continuing income stream from dependable debt and equity sources. In order to satisfy current yield requirements, an investor using this profile should be willing to absorb some risk of principal loss.

Income & Growth
Objective is to strike a balance between bonds for current income and stocks for growth. Despite the relatively balanced nature of the portfolio, an investor using this profile should be willing to assume risk of principal loss.

Growth
Objective is to accumulate wealth, over time, rather than current income. An investor using this profile should be willing to accept the risk of price volatility in seeking to achieve growth.

Aggressive Growth
Objective is to achieve above-average growth over time; income is of little, if any, concern. An investor using this profile should be willing to take more substantial risk in seeking to achieve above-average returns.

CMA^® Account (Cash Management Account): The CMA^® account is Merrill Lynch's pioneering, central asset account. This financial management tool enables clients to manage all of their investment, savings, credit and spending through a single account.

Retirement (IRA): The Individual Retirement Account is Merrill Lynch's standard contributory retirement account. This account acts as a tax-deferred retirement and savings plan.

LMA: The Merrill Lynch Loan Management Account^SM (LMA^®) is a line of credit for managing multiple securities-based loans that lets you leverage the combined value of your assets to meet personal and business financing needs. LMA is a loan product offered by Merrill Lynch Bank USA.

Mutual Fund Advisor Selects: The Merrill Lynch Mutual Fund Advisor Selects^SM Program is a fee-based, non-discretionary investment advisory program that provides clients with customized recommendations for investing in a portfolio of mutual funds, including load waived and no-load funds. Clients participating in the program pay a quarterly advisory fee based on the value of the MFA Selects^SM assets and can purchase eligible share classes of either recommended funds or any other eligible mutual funds at net asset value. MFA Selects was created for investors who want professional, customized advice to help them with the challenging fund selection process, but who also want to make their own portfolio investment decisions. For more complete information about the MFA Selects program, including the mutual funds available, MFA Selects^SM program fees and other charges and expenses, please contact your/a Financial Consultant. Please read the prospectus and the MFA Selects^SM Agreement carefully before you invest or send money.

Merrill Lynch Direct CMA^® Account: Merrill Lynch Direct Cash Management Account^® is an online financial services offering for investors who want to self-direct some or all of their investments through an account offering flexible cash management features.

Merrill Lynch Direct IRA: Merrill Lynch Direct Individual Retirement Account is an online financial services offering for investors who want to self-direct some or all of their investments in a tax-deferred retirement and savings account.

A dividend due, but not yet paid, to a preferred stockholder.

For Account Detail:
The client may elect to receive one dividend check on a monthly basis for all dividends paid during the month. The month-to-date amount of dividends and interest to be paid is reflected in Accumulated Dividends.

Related to Trade Confirmation: Rolled indicates a mutual find rollover.

All settled trades, journal entries, checks, deposits, withdrawals, etc. for an account, as of the stated close of business date.

For participants in employee stock option plans: Activity associated with your employee stock option account.

Merrill Lynch has identified seven asset allocation models for long-term investment planning. Our current allocation models are based on Merrill Lynch research and investment strategy and are subject to change. These models generally coincide with the way most individual investors characterize their objectives. You can use these models to begin considering what asset allocation is appropriate for you. Keep in mind that factors such as your investment time horizon, and risk tolerance are important to consider.

Capital Preservation: Investors in this risk category want to maintain capital. Adjusted for inflation, investment returns may be very low or, in some years, negative, in exchange for very high liquidity and essentially no risk of principal loss.

Income: Investors in this risk category are willing to absorb some risk of principal loss in order to satisfy current yield requirements. Objective is to obtain a continuing income stream from dependable debt and equity sources.

Income / Growth: Investors in this risk category accept possible principal loss as a natural function of investment risk incurred in the pursuit of higher total return. Objective is to strike a balance between bonds for current income and stocks for growth. The degree of risk is normally reduced through diversification and asset allocation and periodic revisions to rebalance any excesses that develop.

Growth: Investors in this risk category are willing to take risk, both in the types of securities held and in the concentration of holdings in favored market sectors. Objective is to accumulate wealth, over time, rather than current income. More active portfolio adjustment is a typical feature of this type of investor's behavior.

Aggressive Growth: Investors in this risk category typically are willing to sustain more in the way of losses on individual transactions in expectation that overall portfolio results in the balance of their holdings will produce above average annual total returns. Objective is to achieve above-average growth over time; income is of little concern. Investors in this category may experience a wide variance in results from one year to the next in the pursuit of longer-term goals.

Equity: Investors using this allocation model seeks to invest in a portfolio of equity investments. These investors should understand that investing in only one asset class typically increases risk and that sector and security diversification should be used to help reduce that risk.

Debt: Investor using this allocation model seeks to invest in a portfolio of fixed-income investments. These investors understand that investing in only one asset class typically increases risk and that sector and security diversification should be used to help reduce that risk.

The dollar value for each item.

For Alternative Investments indicates Amount to be invested in the fund. Depending on the fund this may be reduced to reflect any up front fees associated with this transaction.

Note: This number includes the current order that's being entered. If this number is negative the account will have a funds due notice if all Opening Orders are executed. Click here for more information.

Note: This number includes the current order that's being entered. If this number is negative the account will have a funds due notice if all Opening Orders are executed. Click here for more information.

Note: This number includes the current order that's being entered. If this number is negative the account will have a funds due notice if all Opening Orders are executed. Click here for more information.

Note: This number includes the current order that's being entered. If this number is negative the account will have a funds due notice if all Opening Orders are executed. Click here for more information.

The mean (average) of Annual Total Returns of an investment over a period of years. The Annual Total Return of a fund is expressed as a percentage and is computed by dividing the increase or decrease in the fund's net asset value over a period of one year, including dividends or interest payments and capital gains or losses, but excluding sales charges or loads, redemption fees and taxes, by the fund's net asset value at the beginning of the year. Total return figures will be lowered by any account management, administrative, or Rule 12b-1 fees and other costs automatically deducted from fund assets, and assets may also be affected by annual compounding. Average annual total return may include sales loads ("standardized") or may not ("non-standardized") and may be calculated on a before-tax basis or an after-tax basis.

Taxes are one of the costs associated with a mutual fund investment and may have a significant impact on the return an investor realizes from a fund. Disclosure of standardized mutual fund after-tax returns is intended to help investors to compare the impact of taxes on the performance of different funds. To facilitate comparison, all after-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. It is important to remember, therefore, that actual after-tax returns depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. A fund's past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.