Merrill Lynch S.A.

Partial Repurchase

Merrill Lynch S.A.
                  

Please note that the following Issue has been repurchased by the Issuer:

-0-
*T
Sl.         ISIN      Issue    Value date  Currency  Repurchase     New
 No.                     No                          Amt            O/S
--------------------------------------------------------------------------------
     1  XS0290060911   M85064  22/05/2008    AUD         1,000,000     2,100,000
--------------------------------------------------------------------------------
*T

Please arrange for this to be reflected in your records.