Wolf Haldenstein Adler Freeman And Herz LLP Commences Class Action Suit On Behalf Of Shareholders Of Merrill Lynch Internet Strategies Fund

Wolf Haldenstein Adler Freeman & Herz LLP has commenced a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Merrill Lynch Internet Strategies Fund ("Internet Strategies Fund" or the "Fund") between March 14, 2000 and October 15, 2001 (the "Class Period"), inclusive, against Merrill Lynch & Company, Inc. ("Merrill Lynch") and others for violations of Sections 10(b) and 20(a)of the Securities Exchange Act of 1934, and Sections 11, 12 and 15 of the Securities Act of 1933. The Internet Strategies Fund merged with The Merrill Lynch Global Technology Fund (NASDAQ:MAGTX) on October 15, 2001.

The case name is Hawkins v. Merrill Lynch & Co., Inc., et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at www.whafh.com.

This action arises as a result of the issuance by the Defendants of shares in the Fund and of Merrill Lynch analyst reports regarding Internet companies in the Fund, which recommended the purchase of shares of Internet companies in the Fund and which set price targets for Internet companies included in the Fund, without any reasonable factual basis. Furthermore, when issuing shares of the Fund and their Internet Company reports, the Defendants failed to disclose significant, material conflicts of interest which they had, in light of their use of defendant Henry Blodget's reputation and his Internet companies' analyst reports, to obtain investment banking business for Merrill Lynch. Furthermore, in issuing shares of the Fund and their Internet company reports, in which they were recommending the purchase of stock in Internet companies, the Defendants failed to disclose material, non- public, adverse information which they possessed about Internet companies in the Fund as well as their true opinion about Internet companies in the Fund.

Plaintiffs seek to recover damages on behalf of all those who purchased shares of Internet Strategies Fund common stock during the Class Period (the "Class"). If you are a member of the Class, you may wish to join in the action to serve as lead plaintiff by requesting that the Court appoint you as lead plaintiff. You must make any such request by June 25, 2002. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiffs.'' Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New Jersey, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Fred T. Isquith, Esq., Robert Abrams, Esq., Michael Miske, George Peters, or Derek Behnke), via e-mail at classmember@whafh.com or visit our website at www.whafh.com. Your e-mail should refer to Merrill Lynch Internet Strategies Fund.