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<PAGE> PAGE 8
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 19
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048 K020400 0.400
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050 000400 N
051 000400 N
052 000400 N
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053 B000400 Y
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 25000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 100.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 34
063 B000400 0.0
064 A000400 Y
064 B000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
<PAGE> PAGE 21
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 12
072 B000400 68694
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 8910
072 G000400 0
072 H000400 0
072 I000400 217
072 J000400 157
072 K000400 0
072 L000400 24
072 M000400 20
072 N000400 431
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<PAGE> PAGE 22
072 R000400 21
072 S000400 8
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 27
072 X000400 9815
072 Y000400 4886
072 Z000400 63765
072AA000400 0
072BB000400 1
072CC010400 0
072CC020400 0
072DD010400 63753
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073 A010400 0.0300
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074 C000400 1934387
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074 J000400 3355
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074 L000400 13118
074 M000400 77
074 N000400 1953641
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<PAGE> PAGE 23
075 B000400 0
076 000400 0.00
024 000500 Y
025 A000501 GOLDMAN, SACHS & CO.
025 B000501 13-5108880
025 C000501 D
025 D000501 264997
025 A000502 MORGAN (J.P.) SECURITIES INC.
025 B000502 13-3224016
025 C000502 D
025 D000502 200000
025 A000503 LEHMAN BROTHERS INC.
025 B000503 13-2518466
025 C000503 D
025 D000503 194423
025 A000504 CHASE SECURITIES INC.
025 B000504 13-3112953
025 C000504 D
025 D000504 185000
025 A000505 LANSTON (AUBREY G.) & CO., INC.
025 B000505 13-5552129
025 C000505 D
025 D000505 150000
025 A000506 SALOMON, SMITH BARNEY INC.
025 B000506 11-2418191
025 C000506 D
025 D000506 148778
025 A000507 SUNTRUST BANK
025 B000507 58-2109565
025 C000507 D
025 D000507 133760
025 A000508 MORGAN STANLEY, DEAN WITTER & CO.
025 B000508 13-2655998
025 C000508 D
025 D000508 99074
028 A010500 10402005
028 A020500 34049
028 A030500 0
028 A040500 9421205
028 B010500 13416359
028 B020500 29437
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<PAGE> PAGE 24
028 E010500 10613231
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028 F020500 37676
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028 G020500 214820
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028 H000500 0
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.150
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048 B010500 0
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048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
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048 I010500 0
048 I020500 0.000
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048 J020500 0.000
048 K010500 0
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049 000500 N
050 000500 N
<PAGE> PAGE 25
051 000500 N
052 000500 N
053 A000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000000
062 A000500 Y
062 B000500 5.1
062 C000500 13.7
062 D000500 1.4
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062 F000500 9.2
062 G000500 2.3
062 H000500 0.0
062 I000500 37.0
062 J000500 3.7
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062 L000500 27.6
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062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 87
063 B000500 0.0
064 A000500 N
064 B000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
<PAGE> PAGE 26
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 12
072 B000500 481191
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072 F000500 13596
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<PAGE> PAGE 27
072EE000500 0
073 A010500 0.0520
073 A020500 0.0000
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074 A000500 7893
074 B000500 150000
074 C000500 10495504
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074 O000500 73500
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075 A000500 9064192
075 B000500 0
076 000500 0.00
024 000600 Y
025 A000601 SUNTRUST BANK
025 B000601 58-2109565
025 C000601 D
025 D000601 21292
025 A000602 GOLDMAN, SACHS & CO.
025 B000602 13-5108880
025 C000602 D
025 D000602 18000
025 A000603 CHASE SECURITIES INC.
025 B000603 13-3112953
025 C000603 D
025 D000603 15000
<PAGE> PAGE 28
025 A000604 LEHMAN BROTHERS INC.
025 B000604 13-2518466
025 C000604 D
025 D000604 14920
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025 D000608 0
028 A010600 354318
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<PAGE> PAGE 29
048 A010600 0
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048 B010600 0
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050 000600 N
051 000600 N
052 000600 N
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060 A000600 Y
060 B000600 Y
061 000600 1000000
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062 C000600 12.2
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<PAGE> PAGE 30
063 A000600 48
063 B000600 0.0
064 A000600 N
064 B000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
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070 E020600 N
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070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
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070 J020600 N
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070 K020600 N
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070 L020600 Y
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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SIGNATURE JOHN DOE
TITLE CFO
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 1
<NAME> MERRILL LYNCH TREASURY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 673,304,901
<INVESTMENTS-AT-VALUE> 673,260,684
<RECEIVABLES> 5,965,124
<ASSETS-OTHER> 1,305,740
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 680,531,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 191,061
<TOTAL-LIABILITIES> 191,061
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 680,384,704
<SHARES-COMMON-STOCK> 680,384,704
<SHARES-COMMON-PRIOR> 758,257,032
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (44,217)
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<EXPENSES-NET> 1,896,149
<NET-INVESTMENT-INCOME> 35,098,764
<REALIZED-GAINS-CURRENT> 339,022
<APPREC-INCREASE-CURRENT> (984,043)
<NET-CHANGE-FROM-OPS> 34,453,743
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35,437,786
<DISTRIBUTIONS-OF-GAINS> 425,811
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<NUMBER-OF-SHARES-SOLD> 3,344,371,792
<NUMBER-OF-SHARES-REDEEMED> 3,455,926,782
<SHARES-REINVESTED> 33,682,662
<NET-CHANGE-IN-ASSETS> (77,872,328)
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<PER-SHARE-NII> .046
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 2
<NAME> MERRILL LYNCH INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 8,069,714,289
<INVESTMENTS-AT-VALUE> 8,068,080,232
<RECEIVABLES> 41,563,169
<ASSETS-OTHER> 5,444,745
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,115,088,146
<PAYABLE-FOR-SECURITIES> 50,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,977,186
<TOTAL-LIABILITIES> 54,997,186
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,061,745,017
<SHARES-COMMON-STOCK> 8,061,745,017
<SHARES-COMMON-PRIOR> 7,373,694,806
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,634,057)
<NET-ASSETS> 8,060,110,960
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<INTEREST-INCOME> 430,110,671
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<EXPENSES-NET> 19,207,398
<NET-INVESTMENT-INCOME> 410,903,273
<REALIZED-GAINS-CURRENT> 673,370
<APPREC-INCREASE-CURRENT> (364,199)
<NET-CHANGE-FROM-OPS> 411,212,444
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 411,576,643
<DISTRIBUTIONS-OF-GAINS> 1,169,003
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<NUMBER-OF-SHARES-SOLD> 44,168,257,580
<NUMBER-OF-SHARES-REDEEMED> 43,844,221,739
<SHARES-REINVESTED> 364,014,371
<NET-CHANGE-IN-ASSETS> 688,050,212
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 26,504,478
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,632,197
<AVERAGE-NET-ASSETS> 8,039,839,382
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .051
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> .051
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .24
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 3
<NAME> MERRILL LYNCH GOVERNMENT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 2,624,980,731
<INVESTMENTS-AT-VALUE> 2,624,859,293
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,170,856
<TOTAL-LIABILITIES> 26,170,856
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,636,793,744
<SHARES-COMMON-STOCK> 2,636,793,744
<SHARES-COMMON-PRIOR> 2,114,794,326
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (121,438)
<NET-ASSETS> 2,636,672,306
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<INTEREST-INCOME> 130,445,341
<OTHER-INCOME> 0
<EXPENSES-NET> 5,977,396
<NET-INVESTMENT-INCOME> 124,467,945
<REALIZED-GAINS-CURRENT> 180,541
<APPREC-INCREASE-CURRENT> 80,459
<NET-CHANGE-FROM-OPS> 124,728,945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 124,648,486
<DISTRIBUTIONS-OF-GAINS> 350,292
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,384,418,297
<NUMBER-OF-SHARES-REDEEMED> 13,977,888,964
<SHARES-REINVESTED> 115,470,085
<NET-CHANGE-IN-ASSETS> 521,999,418
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,841,106
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,849,431
<AVERAGE-NET-ASSETS> 2,484,535,424
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> .050
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .24
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 4
<NAME> MERRILL LYNCH INSTITUTIONAL TAX-EXEMPT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 1,934,387,496
<INVESTMENTS-AT-VALUE> 1,934,387,496
<RECEIVABLES> 16,473,583
<ASSETS-OTHER> 2,780,312
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,953,641,391
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 566,492
<TOTAL-LIABILITIES> 566,492
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,953,192,778
<SHARES-COMMON-STOCK> 1,953,192,778
<SHARES-COMMON-PRIOR> 1,804,571,031
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (117,879)
<NET-ASSETS> 1,953,074,899
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 68,693,927
<OTHER-INCOME> 0
<EXPENSES-NET> 4,929,088
<NET-INVESTMENT-INCOME> 63,764,839
<REALIZED-GAINS-CURRENT> (538)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 63,764,301
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 63,752,758
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,221,984,624
<NUMBER-OF-SHARES-REDEEMED> 9,133,185,224
<SHARES-REINVESTED> 59,822,347
<NET-CHANGE-IN-ASSETS> 148,621,747
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,910,128
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,929,088
<AVERAGE-NET-ASSETS> 2,012,068,191
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .24
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 5
<NAME> MERRILL LYNCH PREMIER INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 10,647,490,782
<INVESTMENTS-AT-VALUE> 10,647,504,768
<RECEIVABLES> 53,737,821
<ASSETS-OTHER> 8,084,718
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,707,327,307
<PAYABLE-FOR-SECURITIES> 73,500,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,944,488
<TOTAL-LIABILITIES> 79,444,448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,629,868,833
<SHARES-COMMON-STOCK> 10,629,868,833
<SHARES-COMMON-PRIOR> 6,645,472,621
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,986,014)
<NET-ASSETS> 10,627,882,819
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 481,191,519
<OTHER-INCOME> 0
<EXPENSES-NET> 16,318,123
<NET-INVESTMENT-INCOME> 464,873,396
<REALIZED-GAINS-CURRENT> 928,397
<APPREC-INCREASE-CURRENT> (1,036,026)
<NET-CHANGE-FROM-OPS> 464,765,767
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 465,807,793
<DISTRIBUTIONS-OF-GAINS> 1,263,641
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 118,945,464,135
<NUMBER-OF-SHARES-REDEEMED> 115,344,184,289
<SHARES-REINVESTED> 383,116,366
<NET-CHANGE-IN-ASSETS> 3,984,396,212
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13,596,287
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,318,123
<AVERAGE-NET-ASSETS> 9,064,191,627
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .052
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> .052
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
<NUMBER> 6
<NAME> MERRILL LYNCH RATED INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> JUN-15-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 435,230,183
<INVESTMENTS-AT-VALUE> 435,225,980
<RECEIVABLES> 1,943,645
<ASSETS-OTHER> 786,106
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 437,955,731
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 291,659
<TOTAL-LIABILITIES> 291,659
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 437,668,275
<SHARES-COMMON-STOCK> 437,668,275
<SHARES-COMMON-PRIOR> 100,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4,203)
<NET-ASSETS> 437,664,072
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18,768,749
<OTHER-INCOME> 0
<EXPENSES-NET> 818,002
<NET-INVESTMENT-INCOME> 17,950,747
<REALIZED-GAINS-CURRENT> 23,721
<APPREC-INCREASE-CURRENT> (4,203)
<NET-CHANGE-FROM-OPS> 17,790,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 17,974,468
<DISTRIBUTIONS-OF-GAINS> 33,382
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,497,694,629
<NUMBER-OF-SHARES-REDEEMED> 4,075,718,985
<SHARES-REINVESTED> 15,592,631
<NET-CHANGE-IN-ASSETS> 437,568,275
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 719,585
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 972,019
<AVERAGE-NET-ASSETS> 410,388,556
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .045
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> .045
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
Exhibit to Item 77B
[LETTERHEAD OF DELOITTE & TOUCHE LLP]
INDEPENDENT AUDITORS' REPORT
To the Trustees and Shareholders of Merrill Lynch Funds for Institutions Series:
In planning and performing our audits of the financial statements of Merrill
Lynch Funds for Institutions Series (consisting of Merrill Lynch Premier
Institutional Fund, Merrill Lynch Institutional Fund, Merrill Lynch Rated
Institutional Fund, Merrill Lynch Government Fund, Merrill Lynch Treasury Fund,
and Merrill Lynch Institutional Tax-Exempt Fund) (the "Funds") for the year
ended April 30, 1999 (on which we have issued our report dated May 27, 1999), we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on the Funds' internal
control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in any internal control, misstatements due to
error or fraud may occur and not be detected. Also, projections of any
evaluation of internal control to future periods are subject to the risk that
the internal control may become inadequate because of changes in conditions, or
that the degree of compliance with policies or procedures may deteriorate.
Our consideration of the Funds' internal control would not necessarily disclose
all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
Funds' internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
April 30, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees and the Securities and Exchange Commission, and is not
intended to be and should not be used by anyone other than these specified
parties.
/s/ Deloitte & Touche LLP
Boston, Massachusetts
May 27, 1999
Exhibit to Items 77C 77D
Merrill Lynch Funds for Institutions Series
Merrill Lynch Premier Institutional Fund
Merrill Lynch Institutional Fund
Merrill Lynch Government Fund
Merrill Lynch Treasury Fund
Merrill Lynch Institutional Tax-Exempt Fund
Special Meeting of Shareholders
June 8, 1998
Certificate and Report of Inspectors
The undersigned, Inspectors duly appointed to act as such at the Special
Meeting of Shareholders of the Merrill Lynch Funds for Institutions Series (the
"Trust") to be held on the 8th day of June, 1998, do hereby certify and report
that, having taken the oath to execute faithfully and impartially the duties of
Inspectors at said meeting and to conduct there at/thereafter the vote of
shareholders entitled to vote and to the best of our skill and ability we did
hold and conduct the vote by ballot of the holders of shares of beneficial
interest of the Trust and that we did decide upon qualifications of voters and
accepted their vote and that when such vote was completed we did count and
ascertain the number of shares voted therefore.
We do hereby certify and report the results of votes cast at, or subsequent
to, said meeting in person or by proxy with regards to the following Proposals
(as filed in full detail with the SEC on April 30th, 1998.)
Proposal No.1 -- Election of Trustees
We do hereby certify and report that votes cast at said meeting in person
or by proxy by the holders of the shares of beneficial interest of the Trust for
the election of Robert W. Crook, A. Bruce Brackenridge, Charles C. Cabot, Jr.,
James T. Flynn, Terry K. Glenn, Todd Goodwin, George W. Holbrook, Jr., and W.
Carl Kester, as Trustees, or withholding authority to vote for all or some of
the above-named persons, as follows:
Shares of Beneficial Interest
-----------------------------
Trustee For Withheld
- ------- --- --------
Robert W. Crook 7,767,362,907 281,029,008
A. Bruce Brackenridge 7,767,099,259 281,292,656
Charles C. Cabot, Jr 7,766,800,300 281,591,615
James T. Flynn 7,765,341,153 283,050,762
Terry K. Glenn 7,764,722,709 283,669,206
Todd Goodwin: 7,764,695,314 283,696,601
George W. Holbrook, Jr 7,767,888,251 280,503,664
W. Carl Kester 7,764,578,684 283,813,231
Proposal No. 2 -- Selection of Independent Auditors
We do hereby certify and report the results of votes cast at said meeting
in person or by proxy by the holders of shares for beneficial interest of the
Trust for the selection of Deloitee & Touche LLP as independent auditors of the
Trust as follows:
Shares of Beneficial Interest
-----------------------------
For: 7,722,289,862
Against: 71,054,456
Abstain: 255,047,597
<PAGE>
Exhibit to Items 77C 77D
Proposal No. 3A -- Amendment to the Investment
Restrictions of the Premier Institutional Fund
We do hereby certify and report that votes were cast at said meeting in
person or by proxy by the holders of shares of beneficial interest of the
Premier Institutional Fund for the amendments to the investment restrictions of
the Premier Institutional Fund as follows:
Shares of Beneficial Interest
-----------------------------
For: 3,045,197,342
Against: 89,903,792
Abstain: 341,672,766
Proposal No. 3B -- Amendment to the Investment Restrictions of the Institutional
Fund
We do hereby certify and report the results of votes cast at, or
subsequently to, said meeting in person or by proxy by the holders of shares of
beneficial interest of the Institutional Fund (with the necessary quorum being
obtained on September 8, 1998) as follows:
Shares of Beneficial Interest
-----------------------------
For: 2,845,579,486
Against: 464,776,601
Abstain: 491,984,875
Proposal No. 3G -- Amendment to the Investment Restrictions of the Government
Fund
We do hereby certify and report the results of votes cast at, or subsequent
to said meeting in person or by proxy by the holders of shares of beneficial
interest of the Government Fund (with the necessary quorum being obtained on
June 12, 1998) as follows:
Shares of Beneficial Interest
-----------------------------
For: 837,141,772
Against: 196,196,110
Abstain: 61,021,953
We, the undersigned Inspectors do hereby certify and report that with
regards to each of the above mentioned Proposals (as filed in full detail with
the SEC in the Proxy Statement dated April 30, 1998) the necessary quorums were
obtained and in each case that the required affirmative votes needed were
received and that, thereby each of the Proposals has been passed.
Respectfully submitted,
/s/ William M. Breen
-----------------------
William M. Breen
/s/ James L. Fatseas
-----------------------
James L. Fatseas
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
01/04/99 GSI S U.S. Treasury Bill 21.88MM GOLDMAN SACHS & COMPANY 4.3950 USTB 02/11/99 NR
01/05/99 due 02/11/99 MORGAN STANLEY & CO, INC. 4.3950 USTB 02/11/99 NR
@ 4.3900% NR
01/05/99 GSI S U.S. Treasury Bill 49.40MM AUBREY G LANSTON & CO INC. 4.3950 USTB 02/11/99 NR
01/06/99 due 02/11/99 GOLDMAN SACHS & COMPANY 4.4000 USTB 02/11/99 NR
@ 4.3900% NR
01/07/99 GSI S U.S. Treasury Bill 30.40MM LEHMAN BROS. INC./LCPI 4.5700 USTB 1/21/99 NR
01/07/99 due 01/21/99 PARIBAS CORPORATION 4.5900 USTB 1/21/99 NR
@ 4.5700% NR
</TABLE>
10
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
03/09/99 GSI S U.S. Treasury Bill 1.00MM JP MORG. SEC/MORG. GUAR TR 4.3200 USTB 03/25/99 NR
03/09/99 due 03/25/99 GOLDMAN SACHS & COMPANY 4.3200 USTB 03/25/99 NR
@ 4.3000% NR
03/09/99 GSI S U.S. Treasury Bill 13.10MM JP MORG. SEC/MORG. GUAR TR 4.3200 USTB 03/25/99 NR
03/09/99 due 03/25/99 GOLDMAN SACHS & COMPANY 4.3200 USTB 03/25/99 NR
@ 4.3000% NR
03/11/99 GSI P U.S. Treasury Bill 50.00MM AUBREY G LANSTON & CO INC. 4.6800 USTB 4/22/99 NR
03/11/99 due 04/22/99 DONALDSON, LUFKIN & JEN 4.6850 USTB 4/22/99 NR
@ 4.6900% NR
04/05/99 GSI S U.S. Treasury Bill 21.20MM LEHMAN BROS. INC./LCPI 4.3500 USTB 5/6/99 NR
04/05/99 due 5/06/99 MORGAN STANLEY & CO, INC. 4.3500 USTB 5/6/99 NR
@ 4.3400% NR
04/12/99 GSI P U.S. Treasury Note 25.00MM AUBREY G LANSTON & CO INC. 4.3570 USTN 6.375 7/15/99 NR
04/15/99 cpn 6.3750 due 07/15/99 GOLDMAN SACHS & COMPANY 4.3570 USTN 6.375 7/15/99 NR
dtd 07/15/99 @ 4.3880% NR
04/13/99 GSI S U.S. Treasury Bill 18.90MM HSBC SECURITIES, INC. 4.7200 USTB 4/19/99 NR
04/14/99 due 04/19/99 DONALDSON, LUFKIN & JEN 4.7150 USTB 4/19/99 NR
@ 4.7000% NR
04/13/99 GSI P U.S. Treasury Note 18.50MM HSBC SECURITIES, INC. 4.5610 USTN 6.250 05/31/99 NR
04/14/99 cpn 6.2500 due 05/31/99 DONALDSON, LUFKIN & JEN 4.5610 USIN 6.250 05/31/99 NR
dtd 06/02/97@ 4.56.10% NR
</TABLE>
7
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
11/02/98 GSI P Federal Home Loan Bank AF 25.00MM GOLDMAN SACHS & COMPANY 4.6600 Federal Home Loan Bank AF NR
11/09/98 cpn 4.6400 due 11/09/99 JP MORG. SEC/MORG. GUAR TR 4.6400 Federal Home Loan Bank AF NR
dtd 11/09/98@ 4.7000% NR
11/03/98 GSI P Federal Home Loan Bank AF 50.00MM CREDIT SUISSE FIRST BOSTON 4.8600 Federal Home Loan Bank AF NR
11/12/98 cpn 5.0000 due 11/12/99 LEHMAN BROS. INC./LCPI 4.8300 Federal Home Loan Bank AF NR
dtd 11/12/98 5.0600% NR
11/04/98 MMI P Atlantis One Funding Corp. CP 50.00MM CHASE SECURITIES, INC. 5.1800 Atlantis One Funding Corp. CP FT
11/05/98 due 04/23/99 GOLDMAN SACHS & COMPANY 5.1700 Atlantis One Funding Corp. CP FT
@ 5.2000% FT
11/06/98 GSI P Federal Home Loan Bank AF 50.00MM GOLDMAN SACHS & COMPANY 5.0400 Student Loan Mrktng. Assn. CP NR
11/16/98 cpn 4.9800 due 11/16/99 SALOMON BROS/SM BARNEY INC 5.0100 Federal Home Loan Bank CP NR
dtd 11/16/98 5.0500% NR
11/09/98 MMI P Atlantis One Funding Corp. CP 100.00MM GOLDMAN SACHS & COMPANY 5.2900 Atlantis One Funding Corp. CP FT
11/09/98 due 04/27/99 MORGAN STANLEY & CO, INC. 5.3000 Atlantis One Funding Corp. CP FT
@ 5.3200% FT
12/11/98 MMI P Edison Asset Sec. LLC CP 50.00MM GOLDMAN SACHS & COMPANY 5.0700 Edison Asset Sec. LLC CP FT
12/11/98 due 03/31/99 PAINEWEBBER INC. 5.0700 Edison Asset Sec. LLC CP FT
@ 5.3200% FT
12/30/98 MMI P Sinochem American Inc. CP 17.00MM FIRST CHICAGO CAPITAL MKT. 5.2000 Sinochem American Inc. CP FT
12/30/98 due 02/25/99 CREDIT SUISSE FIRST BOSTON 5.1000 Glencore Ser. B ABN CP FT
@ 5.0700% FT
01/07/99 MMI P Grand Funding Corporation CP 23.80MM GOLDMAN SACHS & COMPANY 4.8800 Grand Funding Corporation CP FT
01/07/99 due 04/14/99 ABN AMRO 4.8800 Grand Funding Corporation CP FT
@ 4.8800% FT
01/08/99 MMI P Repeat Off. Secur. Entity CP 57.20MM LEHMAN BROS. INC./LCPI 4.8600 Repeat Off. Secur. Entity CP FT
01/08/99 due 04/08/99 GOLDMAN SACHS & COMPANY 4.8700 Repeat Off. Secur. Entity CP FT
@ 4.8800% FT
01/08/99 MMI P Repeat Off. Secur. Entity CP 34.50MM LEHMAN BROS. INC./LCPI 4.8600 Repeat Off. Secur. Entity CP FT
01/08/99 due 04/08/99 GOLDMAN SACHS & COMPANY 4.8700 Repeat Off. Secur. Entity CP FT
@ 4.8800% FT
01/11/99 MMI P Federal Home Loan Bank AC 25.00MM CREDTI SUISSE FIRST BOSTON 4.9800 Federal Home Loan Bank AC NR
01/19/99 cpn 4.9800 due 01/19/00 GOLDMAN SACHS & COMPANY 4.9800 Federal Home Loan Bank AC NR
dtd 01/19/99@ 4.9900% NR
</TABLE>
22
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
01/14/99 GSI P Federal Natl. Mrtg. Assn. DN 50.00MM HSBC SECURITIES, INC. 4.6000 Federal Natl. Mrtg. Assn. DN NR
01/14/99 due 07/15/99 CREDIT SUISSE FIRST BOSTON 4.6000 Federal Natl. Mrtg. Assn. DN NR
@ 4.6000% NR
01/14/99 GSI S Federal Natl. Mrtg. Assn. DN 50.00MM CREDIT SUISSE FIRST BOSTON 4.6400 Federal Natl. Mrtg. Assn. DN NR
01/14/99 due 06/11/99 HSBC SECURITIES, INC. 4.6200 Federal Natl. Mrtg. Assn. DN NR
@ 4.6200% NR
</TABLE>
23
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
02/02/99 MMI P Atlantis One Funding Corp. CP 86.70MM GOLDMAN SACHS & COMPANY 4.8100 Atlantis One Funding Corp. CP FT
02/02/99 due 05/11/99 MORGAN STANLEY & CO, INC. 4.8100 Atlantis One Funding Corp. CP FT
@ 4.8200% FT
02/11/99 MMI P Thames Asset Glbl. Secur. Cp 57.10MM LEHMAN BROS. INC./LCPI 4.8500 Thames Asset Glbl. Secur. Cp FT
02/16/99 due 05/17/99 GOLDMAN SACHS & COMPANY 4.8300 Thames Asset Glbl. Secur. Cp FT
@ 4.8500% FT
02/18/99 MMI P Windmill Funding Corp. CP 26.20MM LEHMAN BROS. INC./LCPI 4.8500 Windmill Funding Corp. CP FT
02/18/99 due 03/25/99 GOLDMAN SACHS & COMPANY 4.8600 Windmill Funding Corp. CP FT
@ 4.8600% FT
02/23/99 MMI P Windmill Funding Corp. CP 18.00MM GOLDMAN SACHS & COMPANY 4.8600 Windmill Funding Corp. CP FT
02/23/99 due 03/23/99 LEHMAN BROS. INC./LCPI 4.8600 Windmill Funding Corp. CP FT
@ 4.8600% FT
02/23/99 MMI P Windmill Funding Corp. CP 24.30MM GOLDMAN SACHS & COMPANY 4.8600 Windmill Funding Corp. CP FT
02/23/99 due 03/26/99 LEHMAN BROS. INC./LCPI 4.8600 Windmill Funding Corp. CP FT
@ 4.8600% FT
02/24/99 MMI P Societe Generale YD 25.00MM CHASE SECURITIES, INC. 5.2500 Societe Generale YD FT
02/26/99 cpn 5.2200 due 02/28/00 BARCLAYS CAPITAL INC. 5.2400 Societe Generale YD FT
dtd 02/26/99@ 5.2500% FT
02/25/99 MMI P Bank Austria YD 25.00MM CHASE SECURITIES, INC. 5.3100 Bank Austria YD FT
03/01/99 cpn 5.2500 due 03/01/00 EVEREN SECURITIES, INC. 5.3150 Societe Generale YD FT
dtd 03/01/99@ 5.3500% FT
02/25/99 MMI P Societe Generale YD 25.00MM CHASE SECURITIES, INC. 5.3000 Societe Generale YD FT
03/01/99 cpn 5.2800 due 03/01/00 GOLDMAN SACHS & COMPANY 5.3100 Societe Generale YD FT
dtd 03/01/99@ 5.3100% FT
03/01/99 MMI P Bayerische Hypo-UND Ver. YD 25.00MM CREDIT SECURITIES, INC. 5.3400 Societe Generale YD FT
03/03/99 cpn 5.2700 due 03/03/00 LEHMAN BROS. INC./LCPI 5.3400 Svenska Handlesbankn YD FT
dtd 03/03/95@ 5.3500% FT
03/02/99 MMI P Societe Generale YD 25.00MM CHASE SECURITIES, INC. 5.3800 Societe Generale YD FT
03/03/99 cpn 5.2900 due 03/03/00 CREDIT SUISSE FIRST BOSTON 5.3700 Svenska Handlesbankn YD FT
dtd 03/03/99@ 5.3900% FT
03/04/99 MMI P Societe Generale VY 50.00MM LEHMAN BROS. INC./LCPI 4.9450 Societe Generale VY FT
03/05/99 cpn 4.8950 due 03/03/99 GOLDMAN SACHS & COMPANY 4.9250 Societe Generale VY FT
dtd 03/03/99@ 4.9550% FT
</TABLE>
15
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH TREASURY FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
03/23/99 MMI P Sigma Finance Inc. CP 40.00MM JP MORG. GUAR TR 4.8800 Sigma Finance Inc. CP FT
03/23/99 due 06/30/99 GOLDMAN SACHS & COMPANY 4.8800 Sigma Finance Inc. CP FT
@ 4.8800% FT
03/24/99 MMI P Fleet National Bank N.A. VD 75.00MM CHASE SECURITIES, INC. 4.9550 National City, Ohio BF FT
03/29/99 cpn 4.9000 due 04/17/00 GOLDMAN SACHS & COMPANY 4.9550 Fleet National Bank N.A. BF FT
dtd 03/29/99@ 4.9550% FT
03/30/99 MMI P Edison Asset Secur. LLC CP 100.00MM PAINEWEBBER INC. 4.8500 Edison Asset Secur. LLC CP FT
03/30/99 due 06/30/99 GOLDMAN SACHS & COMPANY 4.8500 Edison Asset Secur. LLC CP FT
@ 4.9100% FT
04/07/99 GSI P Federal Home Loan Mrtg. Co AF 150.00MM GOLDMAN SACHS & COMPANY 4.8050 Federal Home Loan Mrtg. Co AF NR
04/14/99 cpn 4.8050 due 04/14/00 SALOMON BROS/SM BARNEY INC. 4.8050 Federal Home Loan Mrtg. Co AF NR
dtd 04/14/99@ 4.8560% NR
04/13/99 GSI P Federal Home Loan Bank AAF 30.00MM GOLDMAN SACHS & COMPANY 4.9970 Federal Home Loan Bank AF NR
04/28/99 cpn 4.9970 due 04/28/00 CREDIT SUISSE FIRST BOSTON 5.0170 Federal Home Loan Bank AF NR
dtd 04/28/99@ 5.0380% NR
04/16/99 MMI P Deutsche Bank A.G. YD 75.00MM CHASE SECURITIES, INC. 5.1700 Commerzbank AG YD FT
04/19/99 cpn 5.1000 due 04/19/00 SALOMON BROS/SM BARNEY INC. 5.1800 Commerzbank AG YD FT
dtd 04/19/99@ 5.1800% FT
04/19/99 mmi p Deutsche Bank A.G. YD 40.00MM SALOMON BROS/SM BARNEY INC. 5.2000 Deutsche Bank A.G. YD FT
04/20/99 cpn 5.1300 due 04/20/00 CHASE SECURITIES, INC. 5.2100 Deutsche Bank A.G. YD FT
dtd 04/20/99@ 5.2100% FT
04/20/99 MMI P Grand Funding Corporation CP 39.70MM GOLDMAN SACHS & COMPANY 4.8300 Grand Funding Corporation CP FT
04/20/99 due 06/03/99 SALOMON BROS/SM BARNEY INC. 4.8200 Apreco, Inc. CP FT
@ 4.8300% FT
04/27/99 MMI P American Express Cent. Bk. BF 50.00MM GOLDMAN SACHS & COMPANY 4.9500 American Express Cent. Bk. BF FT
05/03/99 cpn 4.9500 due 05/03/00 SALOMON BROS/SM BARNEY INC. 4.9500 American Express Cent. Bk. BF FT
dtd 05/03/99@ 4.9500% FT
</TABLE>
16
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH GOVT
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
11/02/98 GSI P Federal Home Loan Bank AF 70.00MM GOLDMAN SACHS & COMPANY 4.6600 Federal Home Loan Bank AF NR
11/09/98 cpn 4.6400 due 11/09/99 JP MORG. SEC/MORG. GUAR TR 4.6400 Federal Home Loan Bank AF NR
dtd 11/09/98@ 4.7100 NR
11/03/98 GSI P Federal Home Loan Bank AF 15.00MM CREDIT SUISSE FIRST BOSTON 4.8600 Federal Home Loan Bank AF NR
11/12/98 cpn 4.8400 due 11/12/99 LEHMAN BROS. INC./LCPI 4.8300 Federal Home Loan Bank AF NR
dtd 11/12/98@ 4.9000% NR
11/05/98 GSI S Federal Natl. Mrtg. Assn DN 5.00MM MORGAN STANLEY & CO, INC. 4.6700 Federal Natl. Mrtg. Assn DN NR
11/05/98 due 08/20/99 LEHMAN BROS. INC./LCPI 4.7000 Federal Natl. Mrtg. Assn DN NR
@ 4.6200% NR
11/24/98 GSI P Student Loan Marktng Assoc AF 100.00MM CREDIT SUISSE FIRST BOSTON 5.5010 Student Loan Mrktng Assoc AF NR
12/03/98 cpn 5.4500 due 12/03/99 MORGAN STANLEY & CO, INC. 5.4450 Student Loan Mrktng Assoc AF NR
dtd 12/03/98@ 5.5150% NR
12/04/98 GSI P Federal Home Loan Bank DN 31.10MM HSBC SECURITIES, INC. 4.6800 Federal Home Loan Mrtg. Co DN NR
12/04/98 due 12/11 98 CREDIT SUISSE FIRST BOSTON 4.6800 Federal Home Loan Mrtg. Co DN NR
@ 4.7000% NR
01/05/99 GSI P Federal Home Loan Mrtg. Co DN 40.00MM GOLDMAN SACHS & COMPANY 4.8000 Federal Home Loan Mrtg. Co DN DR
01/05/99 due 02/05/99 LEHMAN BROS. INC./LCPI 4.7700 Federal Home Loan Mrtg. Co DN NR
@ 4.8100% NR
</TABLE>
12
<PAGE>
Exhibit to Item 77P
MERRILL LYNCH GOVT
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
02/10/99 GSI P Federal Home Loan Mrtg. Co DN 25.00MM GOLDMAN SACHS & COMPANY 4.7400 Federal Home Loan Mrtg. Co DN NR
02/10/99 due 03/11/99 LEHMAN BROS. INC./LCPI 4.7450 Federal Home Loan Mrtg. Co DN NR
@ 4.7500% NR
03/09/99 GSI P Federal Home Loan Mrtg. Co DN 40.00MM HSBC SECURITIES, INC. 4.7800 Federal Home Loan Mrtg. Co DN NR
03/09/99 due 06/08/99 PAINEWEBBER INC 4.7900 Federal Home Loan Mrtg. Co DN NR
@ 4.8000% NR
03/18/99 GSI P Federal Home Loan Mrtg. Co AF 100.00MM GOLDMAN SACHS & COMPANY 4.7359 Federal Home Loan Mrtg. Co AF NR
03/19/99 cpn 4.7350 due 03/20/00 LEHMAN BROS. INC./LCPI 4.7359 Federal Home Loan Mrtg. Co AF NR
dtd 03/19/99@ 4.7900% NR
04/09/99 GSI P Federal Natl. Mrtg. Assn DN 50.00MM GOLDMAN SACHS & COMPANY 4.7150 Federal Natl. Mrtg. Assn DN NR
04/09/99 due 07/12/99 LEHMAN BROS. INC./LCPI 4.7100 Federal Natl. Mrtg. Assn DN NR
@ 4.7300% NR
</TABLE>
8
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
11/02/98 GSI P Federal Home Loan Bank AF 25.00MM GOLDMAN SACHS & COMPANY 4.6600 Federal Home Loan Bank AF NR
11/09/98 cpn 4.6400 due 11/09/99 JP MORG. SEC/MORG. GUAR TR 4.6400 Federal Home Loan Bank AF NR
dtd 11/09/98@ 4.7000 NR
11/03/98 GSI P Federal Home Loan Bank AF 48.50MM CREDIT SUISSE FIRST BOSTON 5.0200 Federal Home Loan Bank AF NR
11/12/98 cpn 5.0000 due 11/12/99 LEHMAN BROS. INC./LCPI 4.9890 Federal Home Loan Bank AF NR
dtd 11/12/98@ 5.0600% NR
11/04/98 MMI P Atlantis One Funding Corp. CP 50.00MM CHASE SECURITIES, INC. 5.1800 Atlantis One Funding Corp. CP FT
11/05/98 due 04/23/99 GOLDMAN SACHS & COMPANY 5.1700 Atlantis One Funding Corp. CP FT
@ 5.200% FT
11/06/98 GSI P Federal Home Loan Bank AF 50.00MM GOLDMAN SACHS & COMPANY 5.0400 Student Loan Mrktng. Assn. AF NR
11/16/98 cpn 4.9800 due 11/16/99 SALOMON BROS/SM BARNEY INC 5.0100 Federal Home Loan Bank AF NR
dtd 11/16/98@ 5.0500% NR
11/09/98 MMI P Atlantis One Funding Corp. CP 100.00MM GOLDMAN SACHS & COMPANY 5.2900 Atlantis One Funding Corp. CP FT
11/09/98 due 04/27/99 MORGAN STANLEY & CO, INC. 5.3000 Atlantis One Funding Corp. CP FT
@ 5.3200% FT
11/24/98 MMI P Atlantis One Funding Corp. CP 6.00MM GOLDMAN SACHS & COMPANY 5.1800 Asset Securitization CP FT
11/24/98 due 03/25/99 CREDIT SUISSE FIRST BOSTON 5.1700 China Merch (CSFB) CP FT
@ 5.2800% FT
12/09/98 MMI P Thames Asset Glbl. Secur. CP 25.00MM GOLDMAN SACHS & COMPANY 5.3000 Thames Asset Glbl. Secur. CP FT
12/09/98 due 02/18/99 LEHMAN BROS. INC./LCPI 5.3200 Thames Asset Glbl. Secur. CP FT
@ 5.3500% FT
12/09/98 MMI P Thames Asset Glbl. Secur. CP 28.00MM GOLDMAN SACHS & COMPANY 5.3000 Thames Asset Glbl. Secur. CP FT
12/09/98 due 02/19/99 LEHMAN BROS. INC./LCPI 5.3200 Thames Asset Glbl. Secur. CP FT
@ 5.3500% FT
12/11/98 MMI P Edison Asset Secur. LLC CP 50.00MM GOLDMAN SACHS & COMPANY 5.0700 Edison Asset Secur. LLC CP
12/11/98 due 03/31/99 PAINEWEBBER INC. 5.0700 Edison Asset Secur. LLC CP FT
@ 5.0700% FT
12/15/98 GSI S Federal Natl. Mrtg. Assn. DN 65.00MM LEHMAN BROS. INC./LCPI 4.6700 Federal Natl. Mrtg. Assn. DN NR
12/15/98 due 08/13/99 CREDIT SUISSE FIRST BOSTON 4.6700 Federal Natl. Mrtg. Assn. DN NR
@ 4.6500% NR
12/15/98 GSI S Federal Natl. Mrtg. Assn. DN 60.80MM HSBC SECURITIES, INC. 4.5700 Federal Natl. Mrtg. Assn. DN NR
12/15/98 due 11/22/99 CREDIT SUISSE FIRST BOSTON 4.5700 Federal Natl. Mrtg. Assn. DN NR
@ 4.5500% NR
</TABLE>
19
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
12/30/98 MMI P Sinochem American Inc. CP 20.00MM FIRST CHICAGO CAPITAL MKT. 5.2000 Sinochem American Inc. CP FT
12/30/98 due 03/02/99 CREDIT SUISSE FIRST BOSTON 5.1000 Glencore Ser. B ABN CP FT
@ 5.2000% FT
01/05/99 MMI P Lexington Parker Cap. Co. CP 40.00MM CREDIT SUISSE FIRST BOSTON 4.8800 Lexington Parker Cap. Co. CP FT
01/05/99 due 04/09/99 MORGAN STANLEY & CO, INC. 4.9000 Lexington Parker Cap. Co. CP FT
@ 4.9000% FT
01/06/99 MMI P Thames Asset Glbl. Secur. CP 62.40MM LEHMAN BROS. INC./LCPI 4.8800 Thames Asset Glbl. Secur. CP FT
01/06/99 due 04/06/99 GOLDMAN SACHS & COMPANY 4.8800 Thames Asset Glbl. Secur. CP FT
@ 4.8800% FT
01/07/99 MMI P Grand Funding Corporation CP 25.00MM GOLDMAN SACHS & COMPANY 4.8800 Grand Funding Corporation CP FT
01/07/99 due 04/08/99 ABN AMRO 4.8800 Grand Funding Corporation CP FT
@ 4.8800% FT
01/07/99 MMI P Grand Funding Corporation CP 45.90MM GOLDMAN SACHS & COMPANY 4.8800 Grand Funding Corporation CP FT
01/07/99 due 03/25/99 ABN AMRO 4.8800 Grand Funding Corporation CP FT
@ 4.8800% FT
01/11/99 GSI P Federal Home Loan Bank AC 25.00MM CREDIT SUISSE FIRST BOSTON 4.9800 Federa Home Loan Bank AC NR
01/19/99 cpn 4.9800 due 01/19/99 GOLDMAN SACHS & COMPANY 4.9800 Federa Home Loan Bank AC NR
dtd 01/19/99@ 4.9900% NR
01/14/99 GSI S Federal Natl. Mrtg. Assn. DN 50.00MM CREDIT SUISSE FIRST BOSTON 4.6400 Federal Natl. Mrtg. Assn. DN NR
01/14/98 due 06/11/99 HSBC SECURITIES, INC. 4.6200 Federal Natl. Mrtg. Assn. DN NR
@ 4.6200% NR
01/14/99 GSI S Federal Natl. Mrtg. Assn. DN 50.00MM HSBC SECURITIES, INC. 4.6000 Federal Natl. Mrtg. Assn. DN NR
01/14/98 due 07/15/99 CREDIT SUISSE FIRST BOSTON 4.6000 Federal Natl. Mrtg. Assn. DN NR
@ 4.6000% NR
01/15/99 MMI P Edison Asset Secur. LLC CP 119.30MM GOLDMAN SACHS & COMPANY 4.8000 Edison Asset Secur. LLC CP
01/15/99 due 04/30/99 PAINEWEBBER INC. 4.8200 Edison Asset Secur. LLC CP FT
@ 4.8200% FT
01/15/99 GSI P U.S. Treasury Note 10.00MM HSBC SECURITIES, INC. 4.5510 USTN 4.625 12/31/00 NR
01/19/99 cpn 4.6250 due 12/31/00 CREDIT SUISSE FIRST BOSTON 4.5470 USTN 4.625 12/31/00 NR
dtd 12/31/98@ 4.5510% NR
01/21/99 MNI P Windmill Funding Corp. CP 16.10MM LEHMAN BROS. INC./LCPI 4.8300 Windmill Funding Corp. CP FT
01/21/99 due 03/24/99 GOLDMAN SACHS & COMPANY 4.8300 Windmill Funding Corp. CP FT
@ 4.8500% FT
</TABLE>
20
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
01/28/99 GSI P U.S. Treasury Note 20.00MM JP MORG. SEC/MORG. GUAR TR 4.5740 USTN 4.500 1/31/99 NR
02/01/99 cpn 4.5000 due 01/31/01 GOLDMAN SACHS & COMPANY 4.5470 USTN 4.500 1/31/99 NR
dtd 01/31/99@ 4.5780% NR
</TABLE>
21
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
02/18/99 MMI P Preferred Receiv. Fndg. Co CP 24.00MM GOLDMAN SACHS & COMPANY 4.8600 Preferred Receiv. Fndg. Co CP FT
02/18/99 due 03/23/99 FIRST CHICAGO CAPITAL MKT. 4.8600 Preferred Receiv. Fndg. Co CP FT
@ 4.8600% FT
02/24/99 MMI P Beta Finance Inc. MA 40.00MM GOLDMAN SACHS & COMPANY 5.2550 Beta Finance Inc. MA FT
03/08/99 cpn 5.2600 due 03/08/00 LEHMAN BROS. INC./LCPI 5.2550 Beta Finance Inc. MA FT
dtd 03/08/99@ 5.2600% FT
03/01/99 MMI P Bayerische Hypo-UND Ver. YD 25.00MM CREDIT SUISSE FIRST BOSTON 5.3400 Societe Generale YD FT
03/03/99 cpn 5.2700 due 03/03/00 LEHMAN BROS. INC./LCPI 5.3400 Svenska Handelsbankn YD FT
dtd 03/03/99@ 5.3500% FT
03/02/99 MMI P Countrywide Home Loans Inc CP 25.00MM LEHMAN BROS. INC./LCPI 4.8500 Countrywide Home Loans Inc CP FT
03/02/99 due 03/03/99 CHASE SECURITIES, INC. 4.8500 Countrywide Home Loans Inc CP FT
@ 4.9000% FT
03/04/99 MMI P Societe Generale VY 73.00MM LEHMAN BROS. INC./LCPI 4.9450 Societe Generale VY FT
03/05/99 cpn 4.8950 due 03/03/00 GOLDMAN SACHS & COMPANY 4.9250 Societe Generale VY FT
dtd 03/03/99@ 4.9950% FT
03/11/99 MMI P Societe Generale YD 25.00MM CHASE SECURITIES, INC. 5.2500 Societe Generale YD FT
03/15/99 cpn 5.2000 due 03/15/00 JP MORG. SEC/MORG. GUAR TR 5.2400 Societe Generale YD FT
dtd 03/15/99@ 5.2600% FT
03/11/99 MMI S Societe Generale YD 25.00MM JP MORG. SEC/MORG. GUAR TR 4.8700 Societe Generale YD FT
03/15/99 cpn 5.7300 due 03/15/00 CHASE SECURITIES, INC. 4.8700 Societe Generale YD FT
dtd 03/30/98@ 4.8700% FT
03/24/99 MMI P Fleet National Bank B.A. VD 75.00MM CHASE SECURITIES, INC. 4.9550 National City, Ohio BF FT
03/29/99 cpn 4.9000 due 04/17/00 GOLDMAN SACHS& COMPANY 4.9550 Fleet National Bank N.A. VD FT
dtd 03/29/99@ 4.9550% FT
03/25/99 GSI P Federal Home Loan Mrtg. Co DN 100.00MM HSBC SECURITIES , INC. 4.7600 Federal Home Loan Mrtg. Co DN NR
03/25/99 due 06/22/99 CREDIT SUISSE FIRST BOSTON 4.7600 Federal Home Loan Mrtg. Co DN NR
@ 4.7650% NR
03/31/99 MMI P Apreco, Inc. CP 50.00MM GOLDMAN SACHS & COMPANY 4.8700 Apreco, Inc. CP FT
03/31/99 due 05/24/99 SALOMON BROS/SM BARNEY INC 4.8700 Apreco, Inc. CP FT
@ 4.8700% FT
04/07/99 MMI P Edison Asset Securit. LLC CP 23.80MM GOLDMAN SACHS & COMPANY 4.8300 TAGS CP FT
04/07/99 due 07/01/99 LEHMAN BROS. INC./LCPI 4.8300 TAGS CP FT
@ 4.8300% FT
</TABLE>
12
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
04/07/99 GSI P Federal Home Loan Mrtg. Co AF 150.00MM GOLDMAN SACHS & COMPANY 4.8050 Federal Home Loan Mrtg. Co AF NR
04/14/99 cpn 4.8050 due 04/14/00 SALOMON BROS/SM BARNEY INC 4.8050 Federal Home Loan Mrtg. Co AF NR
dtd 04/14/99@ 4.8560 NR
04/08/99 MMI P Repeat Offering Secur. CP 55.30MM GOLDMAN SACHS & COMPANY 4.8300 Repeat Offering Secur. CP FT
04/08/99 due 07/23/99 LEHMAN BROS. INC./LCPI 4.8300 Repeat Offering Secur. CP FT
@ 4.8300% FT
04/13/99 MMI P Deutsche Bank A.G. VY 50.00MM EVEREN SECURITIES, INC. 5.3445 SouthTrust Bank N.A. VY FT
04/15/99 cpn 4.8900 due 04/17/00 BARCLAYS CAPITAL INC. 5.3445 Deutsche Bank A.G. VY FT
dtd 04/15/99@ 5.3559% FT
04/13/99 GSI P Federal Home Loan Bank AF 30.00MM GOLDMAN SACHS & COMPANY 4.9970 Federal Home Loan Bank AF NR
04/28/99 cpn 4.9970 due 04/28/00 CREDIT SUISSE FIRST BOSTON 5.0170 Federal Home Loan Bank AF NR
dtd 04/28/99@ 5.0380% NR
04/19/99 MMI P Deutsche Bank A.G. YD 60.00MM SALOMON BROS/SM BARNEY INC 5.2000 Deutsche Bank A.G. YD FT
04/20/99 cpn 5.1300 due 04/20/00 CHASE SECURITIES, INC. 5.2100 Deutsche Bank A.G. YD FT
dtd 04/20/99@ 5.2100% FT
04/20/99 MMI P Grand Funding Corporation CP 31.30MM GOLDMAN SACHS & COMPANY 4.8300 Grand Funding Corporation CP FT
04/20/99 due 06/03/99 SALOMON BROS/SM BARNEY INC 4.8200 Apreco, Inc. CP FT
@ 4.8300% FT
04/27/99 MMI P American Express Cent. Bk BF 50.00MM GOLDMAN SACHS & COMPANY 4.9500 American Express Cent. BF FT
05/03/99 cpn 4.9500 due 05/03/00 SALOMON BROS/SM BARNEY INC 4.9500 American Express Cent. BF FT
dtd 05/03/99@ 4.9500% FT
</TABLE>
13
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
11/02/98 GSI P Federal Home Loan Bank AF 4.00MM GOLDMAN SACHS & COMPANY 4.6600 Federal Home Loan Bank AF NR
11/09/98 cpn 4.6400 due 11/09/99 JP MORG. SEC/MORG. GUAR TR 4.6400 Federal Home Loan Bank AF NR
dtd 11/09/98@ 4.7000% NR
11/03/98 GSI P Federal Home Loan Bank AF 2.00MM CREDIT SUISSE FIRST BONSTON 4.8600 Federal Home Loan Bank AF NR
11/12/98 cpn 5.0000 due 11/12/99 LEHMAN BROS. INC./LCPI 4.8300 Federal Home Loan Bank AF NR
dtd 11/12/98@ 5.0600% NR
11/09/98 MMI P Atlantis One Funding Corp. CP 10.00MM GOLDMAN SACHS & COMPANY 5.2900 Atlantis One Funding Corp. CP FT
11/09/98 due 04/27/99 MORGAN STANLEY & CO, INC. 5.3000 Atlantis One Funding Corp. CP FT
@ 5.3200%
11/24/98 MMI P Atlantis One Funding Corp. CP 4.00MM GOLDMAN SACHS & COMPANY 5.1800 Asset Securitization CP FT
11/24/98 due 03/25/99 CREDIT SUISSE FIRST BOSTON 5.1700 China Merch (CSFB) CP FT
@ 5.2800% FT
12/09/98 MMI P Thames Asset Glbl. Secur. CP 18.80MM GOLDMAN SACHS & COMPANY 5.3000 Thames Asset Glbl. Secur. CP FT
12/09/98 due 02/18/99 LEHMAN BROS. INC./LCPI 5.3200 Thames Asset Glbl. Secur. CP FT
@ 5.3500 FT
01/15/99 MMI P Edison Asset Securit. LLC CP 20.00MM GOLDMAN SACHS & COMPANY 4.8000 Edison Asset Securit. LLC CP FT
01/15/99 due 04/30/99 PAINEWEBBER INC. 4.8200 Edison Asset Securit. LLC CP FT
@ 4.8200% FT
</TABLE>
16
<PAGE>
Exhibit to Item 77P
ML PREMIER INSTITUTIONAL FUND
TRADING VOLUME
<TABLE>
<CAPTION>
Trade Sub
Settle Code P/S Security Amount Competitive Broker Prices Security
- ------ ---- ---- -------- ------ ------------------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
02/03/99 MMI P Grand Funding Corporation CP 13.00MM GOLDMAN SACHS & COMPANY 4.8200 Grand Funding Corporation CP FT
02/03/99 due 05/07/99 LEHMAN BROS. INC./LCPI 4.8200 Tulip Funding Corporation CP FT
@ 4.8300% FT
02/17/99 MMI P Lexington Parker Cap. Co. CP 35.00MM LEHMAN BROS. INC./LCPI 4.8500 Lexington Parker Cap. Co. CP FT
02/17/99 due 05/20/99 MORGAN STANLEY & CO, INC. 4.8400 Lexington Parker Cap. Co. CP FT
@4.8600% FT
02/24/99 MMI P Societe Generale YD 10.00MM CHASE SECURITIES, INC. 5.2500 Societe Generale YD FT
02/26/99 cpn 5.2200 due 02/28/00 BARCLAYS CAPITAL , INC. 5.2400 Societe Generale YD FT
dtd 02/26/99@ 5.2500% FT
03/02/99 MMI P Countrywide Home Loans Inc CP 25.00MM LEHMAN BROS. INC./LCPI 4.8500 Countrywide Home Loans Inc CP FT
03/02/99 due 03/03/99 CHASE SECURITIES, INC. 4.8500 Countrywide Home Loans Inc CP FT
@ 4.9000% FT
03/04/99 MMI P Three Rivers Funding Corp. CP 20.10MM JP MORG. SEC/MORG. GUAR TR 4.8800 Three Rivers Funding Corp. CP FT
03/04/99 due 04/15/99 GOLDMAN SACHS & COMPANY 4.8900 Edison Asset CP FT
@ 4.9000% FT
03/04/99 MMI P Societe Generale VY 15.00MM LEHMAN BROS. INC./LCPI 4.9450 Societe Generale VY FT
03/05/99 cpn 4.8950 due 03/03/00 GOLDMAN SACHS & COMPANY 4.9250 Societe Generale VY FT
dtd 03/03/99@ 4.9550% FT
03/17/99 MMI S Grand Funding Corporation CP 25.00MM GOLDMAN SACHS & COMPANY 4.8700 Grand Funding Corporation CP FT
03/17/99 due 03/25/99 ABN AMRO 4.8900 Grand Funding Corporation CP FT
@ 4.8300% FT
04/29/99 MMI P Apreco, Inc. CP 18.00MM LEHMAN BROS. INC./LCPI 4.8200 Apreco, Inc. CP FT
04/29/99 due 07/20/99 GOLDMAN SACHS & COMPANY 4.8000 Asset Funding CP FT
@ 4.8300% FT
</TABLE>
10
