Summary of MERRILL LYNCH & CO., INC.

Item 2.02. Results of Operations and Financial Condition.

On September 15, 2008, Merrill Lynch & Co., Inc. ("Merrill Lynch" or the "Company") entered into an Agreement and Plan of Merger (as amended by Amendment No. 1 dated as of October 21, 2008, the "Merger Agreement") with Bank of America Corporation ("Bank of America"). Pursuant to the Merger Agreement, on January 1, 2009, a wholly-owned subsidiary of Bank of America ("Merger Sub") merged with and into Merrill Lynch, with Merrill Lynch continuing as the surviving corporation and a subsidiary of Bank of America (the "Merger").

Merrill Lynch's preliminary results indicate a fourth-quarter net loss of $15.31 billion, or $9.62 per diluted share, driven by severe capital markets dislocations.

Merrill Lynch's Global Wealth Management division generated $2.6 billion in net revenue in the period as fees held up well in the declining markets. The strongest performance came from the U.S. Advisory portion of the business. Retention of financial advisors remains consistent with historical trends.

Significant negative fourth-quarter items for Merrill Lynch include:

- Credit valuation adjustments related to monoline financial guarantor exposures of $3.22 billion.

- Goodwill impairments of $2.31 billion.

- Leveraged loan writedowns of $1.92 billion.

- $1.16 billion in the U.S. Bank Investment Securities Portfolio writedowns.

- Commercial real estate writedowns of $1.13 billion.

A Preliminary Unaudited Earnings Summary, Segment Data for the three- and twelve-month periods ended December 26, 2008 and supplemental quarterly data for Merrill Lynch are filed as Exhibit 99.1 to this Form 8-K and are incorporated herein by reference.

This information furnished under this Item 2.02, including Exhibit 99.1, shall be considered "filed" for purposes of the Securities Exchange Act of 1934, as amended.