<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
05/01/2000 - 07/31/2000
ML INSTITUTIONL FND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
05/02/2000 M P BRITISH TELECOMMUNIC 195.65 MM LEHMAN 6.5000 BRITISH TELECOMMUN FT2
05/03/3000 due 08/31/00 GOLDMAN SACHS 6.5000 BRITISH TELECOMMUN FT2
@ 6.5200 FT2
05/02/2000 M P ATLANTIS ONE FUNDING- 99.16 MM GOLDMAN SACHS 6.2900 ATLANTIS ONE FUNDIN FT2
05/02/2000 due 06/19/2000 LEHMAN 6.2800 ATLANTIS ONE FUNDIN FT2
@ 6.3000 FT2
06/08/2000 M P GEN MTRS ACCEP CORP-M 99.94 MM SALOMON SMITH BARN 6.6202 GEN MTRS ACCEP CORP FT2
06/12/2000 due 07/09/2001 CREDIT SUISSE 6.6202 GEN MTRS ACCEP CORP FT2
@ 6.6414 FT2
06/26/2000 M P GEN MTRS ACCEP CORP-M 50.59 MM CREDIT SUISSE 6.3279 GEN MTRS ACCEP CORP FT2
07/03/2000 due 07/27/2001 MORGAN STANLEY & C 6.3181 GEN MTRS ACCEP CORP FT2
@ 6.3377 FT2
07/06/2000 M P CORPORATE RECEIVABLE 35.40 MM GOLDMAN SACHS 6.5700 ATLANTIS ONE FUNDIN FT2
07/07/2000 due 10/06/2000 J.P. MORGAN 6.5700 DELAWARE FNDING CO FT2
@ 6.5700 FT2
07/07/2000 M P CORPORATE RECEIVABLE 49.18 MM GOLDMAN SACHS 6.5400 CXC INCORPORATED-C4 FT2
07/07/2000 due 10/05/2000 CREDIT SUISSE 6.5400 CORP ASSET FUNDING-C FT2
@ 6.5500 FT2
07/10/2000 M P SVENSKA HANDELSBANK 49.99 MM J.P. MORGAN 6.9800 SVENSKA HANDELSBAN FT2
07/12/2000 due 07/12/2001 CHASE MANHATTAN 6.9700 DEUTSCHE BANK A.G.-Y FT2
@ 7.0000 FT2
07/19/2000 M P FORRESTAL FUNDING-C4 73.81 MM BANC OF AMER SEC LL 6.5700 FORRESTAL FUNDING-C FT2
07/24/2000 due 10/19/2000 MORGAN STANLEY & C 6.5700 FORRESTAL FUNDING-C FT2
@ 6.5700 FT2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
05/01/2000 - 07/31/2000
ML PREMIER INST FND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
05/02/2000 M P BRITISH TELECOMMUNIC 195.65 MM GOLDMAN SACHS 6.5000 BRITISH TELECOMMUN FT2
05/03/2000 due 08/31/2000 LEHMAN 6.5000 BRITISH TELECOMMUN FT2
@ 6.5200 FT2
05/02/2000 M P ATLANTIS ONE FUNDING- 44.53 MM GOLDMAN SACHS 6.2900 ATLANTIS ONE FUNDIN FT2
05/02/2000 due 06/19/2000 LEHMAN 6.2800 ATLANTIS ONE FUNDIN FT2
@ 6.3000 FT2
05/25/2000 M p ENTERPRISE FUNDING-C4 72.98 MM GOLDMAN SACHS 6.5100 AMSTERDAM FUNDING FT2
05/25/2000 due 06/27/2000 BANC OF AMER SEC LL 6.5100 ENTERPRISE FUNDING-C FT2
@ 6.5100 FT2
06/05/2000 M P ROYAL BANK OF CANADA 99.95 MM LEHMAN 6.6606 COMERICA BANK-VY FT2
06/07/2000 due 06/07/2001 MORGAN STANLEY & C 6.6505 BAYER LANDESBK GIRO FT2
@ 6.6721 FT2
06/08/2000 M P GEN MTRS ACCEP CORP-M 99.94 MM SALOMON SMITH BARN 6.6202 GEN MTRS ACCEP CORP FT2
06/12/2000 due 07/09/2001 CREDIT SUISSE 6.6202 GEN MTRS ACCEP CORP FT2
@ 6.6414 FT2
06/16/2000 M P AMSTERDAM FUNDING-C 24.55 MM CREDIT SUISSE 6.6000 AMSTERDAM FUNDING FT2
06/16/2000 due 09/22/2000 GOLDMAN SACHS 6.6000 AMSTERDAM FUNDING FT2
@ 6.6000 FT2
07/06/2000 M P CORPORATE RECEIVABLE 62.94 MM GOLDMAN SACHS 6.5700 ATLANTIS ONE FUNDIN FT2
07/07/2000 due 10/06/2000 J.P. MORGAN 6.5700 DELAWARE FNDING CO FT2
@ 6.5700 FT2
07/10/2000 M P ASSET SECURITIZATION-C 79.50 MM GOLDMAN SACHS 6.5400 ASSET SECURITIZATION FT2
07/10/2000 due 10/20/2000 SALOMON SMITH BARN 6.5300 CXC INCORPORATED-C4 FT2
@ 6.5400 FT2
07/10/2000 M P SVENSKA HANDELSBANK 49.99 MM J.P. MORGAN 6.9800 SVENSKA HANDELSBAN FT2
07/12/2000 due 07/12/2001 CHASE MANHATTAN 6.9700 DEUTSCHE BANK A.G.-Y FT2
@ 7.000 FT2
07/13/2000 M P ATLANTIS ONE FUNDING- 48.19 MM SALOMON SMITH BARN 6.5300 CXC INCORPORATED-CP FT2
07/13/2000 due 10/16/2000 GOLDMAN SACHS 6.5200 CSW CREDIT, INC.-CP FT2
@ 6.5300 FT2
07/19/2000 M P FORRESTAL FUNDING-C4 65.63 MM BANC OF AMER SEC LL 6.5700 FORRESTAL FUNDING-C FT2
07/21/2000 due 10/13/2000 MORGAN STANLEY & C 6.5700 FORRESTAL FUNDING-C FT2
@ 6.5700 FT2
07/19/2000 M P FORRESTAL FUNDING-C4 49.21 MM BANC OF AMER SEC LL 6.5700 FORRESTAL FUNDING-C FT2
07/24/2000 due 10/19/2000 MORGAN STANLEY & C 6.5700 FORRESTAL FUNDING-C FT2
@ 6.5700 FT2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
08/01/2000 - 10/31/2000
ML TREASURY FUND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
08/02/2000 MLG S U.S. TREASURY BILL-TB 1.28 MM DEUTSCHE BANK 6.0000 U.S. TREASURY BILL-TB NR
08/02/2000 due 08/03/2000 MORGAN STANLEY & CO 5.8000 U.S. TREASURY BILL-TB NR
@ 5.7500 FTG
08/24/2000 MLG S U.S. TREASURY BILL-TB 24.07 MM DONALDSON, LUFKIN 5.8000 U.S. TREASURY BILL-TB NR
08/24/2000 due 08/31/2000 J.P. MORGAN 5.7900 U.S. TREASURY BILL-TB NR
@ 5.700 FTG
08/24/2000 MLG P U.S. TREASURY BILL-TB 23.72 MM J.P. MORGAN 6.1000 U.S. TREASURY BILL-TB NR
08/24/2000 due 11/24/2000 DONALDSON, LUFKIN 6.1000 U.S. TREASURY BILL-TB NR
@ 6.1000 FTG
08/31/2000 MLG S U.S. TREASURY BILL-TB 14.98 MM GOLDMAN SACHS 5.8000 U.S. TREASURY BILL-TB NR
08/31/2000 due 09/07/2000 DEUTSCHE BANK 5.8000 U.S. TREASURY BILL-TB NR
@ 5.7500 FTG
09/05/2000 MLG S U.S. TREASURY BILL-TB 29.86 MM MORGAN STANLEY & CO 5.9800 U.S. TREASURY BILL-TB NR
09/06/2000 due 10/05/2000 BANC OF AMER SEC LLC 5.9750 U.S. TREASURY BILL-TB NR
@ 5.9700 FTG
09/05/2000 MLG P U.S. TREASURY BILL-TB 29.64 MM MORGAN STANLEY & CO 6.0600 U.S. TREASURY BILL-TB NR
09/06/2000 due 11/16/2000 BANC OF AMER SEC LLC 6.0600 U.S. TREASURY BILL-TB NR
@ 6.0600 FTG
09/26/2000 MLG S U.S. TREASURY BILL-TB 10.00 MM FUJI SECURITIES 5.9200 U.S. TREASURY NOTE-TN NR
09/27/2000 due 09/28/2000 LEHMAN 5.9200 U.S. TREASURY NOTE-TN NR
@ 5.9200 FTG
09/26/2000 MLG P U.S. TREASURY BILL-TN 10.06 MM FUJI SECURITIES 6.5062 U.S. TREASURY BILL-TN NR
09/27/2000 due 12/31/2000 LEHMAN 6.4909 U.S. TREASURY BILL-TN NR
@ 6.5215 FTG
09/27/2000 MLG S U.S. TREASURY BILL-TB 14.98 MM MORGAN STANLEY & CO 5.5800 U.S. TREASURY BILL-TB NR
09/28/2000 due 10/05/2000 FUJI SECURITIES 5.5800 U.S. TREASURY BILL-TB NR
@ 5.5500 FTG
09/27/2000 MLG P U.S. TREASURY BILL-TB 14.74 MM MORGAN STANLEY & CO 5.9950 U.S. TREASURY BILL-TB NR
09/28/2000 due 01/11/2001 LEHMAN 5.9900 U.S. TREASURY BILL-TB NR
@ 5.9950 FTG
10/18/2000 MLG P U.S. TREASURY BILL-TB 14.97 MM MORGAN STANLEY & CO 6.0500 U.S. TREASURY BILL-TB NR
10/19/2000 due 01/11/2001 DEUTSCHE BANK 6.0400 U.S. TREASURY BILL-TB NR
@ 6.0550 FTG
10/19/2000 MLG S U.S. TREASURY BILL-TB 9.99 MM DEUTSCHE BANK 5.3500 U.S. TREASURY BILL-TB NR
10/20/2000 due 10/26/2000 MORGAN STANLEY & CO 5.3200 U.S. TREASURY BILL-TB NR
@ 5.300 FTG
10/30/2000 MLG S U.S. TREASURY BILL-TB 24.25 MM MORGAN STANLEY & CO 5.2500 U.S. TREASURY BILL-TB NR
10/30/2000 due 11/02/2000 FUJI SECURITIES 5.2500 U.S. TREASURY BILL-TB NR
@ 5.2500 FTG
10/30/2000 MLG P U.S. TREASURY BILL-TB 23.90 MM MORGAN STANLEY & CO 6.1700 U.S. TREASURY BILL-TB NR
10/30/2000 due 01/25/2001 FUJI SECURITIES 6.1650 U.S. TREASURY BILL-TB NR
@ 6.1750 FTG
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
08/01/2000 - 10/31/2000
ML INSTITUTIONL FND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
08/03/2000 M P FALCON ASSET SECURIT-C4 117.61 MM BANK ONE CAP MKTS 6.5100 PREFERRED RECEIVABLE- FT2
08/03/2000 due 09/21/2000 GOLDMAN SACHS 6.5100 PREFERRED RECEIVABLE- FT2
@ 6.5150 FT2
09/06/2000 MLG P STUDENT LN MKTG ASSN-AF 299.78 MM CREDIT SUISSE 6.7701 STUDENT LN MKTG ASSN- NR
09/15/2000 due 03/18/2002 GOLDMAN SACHS 6.7599 STUDENT LN MKTG ASSN- NR
@ 6.7702 FTG
09/19/2000 M P ENTERPRISE FUNDING-C4 26.00 MM GOLDMAN SACHS 6.4800 TULIP FUNDING CORP.-C4 FT2
09/19/2000 due 12/19/2000 SALOMON SMITH BARNE 6.4800 CXC INCORPORATED-C4 FT2
@ 6.4800 FT2
09/20/2000 M P CORPORATE RECEIVABLE-C 98.63 MM SALOMON SMITH BARNE 6.4800 CORPORATE RECEIVABLE FT2
09/20/2000 due 12/05/2000 LEHMAN 6.4700 CORPORATE RECEIVABLE FT2
@ 6.4800 FT2
10/06/2000 M P CAN IMPERIAL BANK-YD 49.99 MM J.P. MORGAN 6.7300 SVENSKA HANDELSBANK FT2
10/10/2000 due 10/10/2001 CREDIT SUISSE 6.7300 DEUTSCHE BANK A.G.-YD FT2
@ 6.7450 FT2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
08/01/2000 - 10/31/2000
ML GOVERNMENT FUND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
09/19/2000 MLG P FED NAT'L MTG ASSN-AF 99.94 MM MORGAN STANLEY & CO 6.5005 FED NAT'L MTG ASSN-AF NR
10/04/2000 due 10/04/2001 DEUTSCHE BANK 6.4903 FED NAT'L MTG ASSN-AF NR
@ 6.5319 FTG
10/12/2000 MLG P FEDERAL HOME LOAN BK-A 49.97 MM MORGAN STANLEY & CO 6.6308 FEDERAL HOME LOAN BK NR
10/19/2000 due 10/19/2001 CREDIT SUISSE 6.6003 FEDERAL HOME LOAN BK NR
@ 6.6511 FTG
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TRADING VOLUME REPORT
EXHIBIT TO ITEM 77P
08/01/2000 - 10/31/2000
ML PREMIER INST FUND
TRADE SETTLE SUB P/S SECURITY AMOUNT COMPETITIVE BROKER PRICES SECURITY RATING
CODE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
08/03/2000 M P PREFERRED RECEIVABLE-C4 49.95 MM BANK ONE CAP MKTS 6.5100 PREFERRED RECEIVABLE- FT2
08/03/2000 due 09/22/2000 GOLDMAN SACHS 6.5100 PREFERRED RECEIVABLE- FT2
@ 6.5150 FT2
08/03/2000 M P FALCON ASSET SECURIT-C4 99.11 MM BANK ONE CAP MKTS 6.5100 PREFERRED RECEIVABLE- FT2
08/03/2000 due 09/21/2000 GOLDMAN SACHS 6.5100 PREFERRED RECEIVABLE- FT2
@ 6.5150 FT2
08/04/2000 M p OLD LINE FUNDING-C4 117.60 MM GOLDMAN SACHS 6.5100 OLD LINE FUNDING-C4 FT2
08/04/2000 due 09/06/2000 CREDIT SUISSE 6.5100 OLD LINE FUNDING-C4 FT2
@ 6.5100 FT2
08/04/2000 M P OLD LINE FUNDING-C4 26.87 MM GOLDMAN SACHS 6.5100 OLD LINE FUNDING-C4 FT2
08/04/2000 due 09/22/2000 CREDIT SUISSE 6.5100 OLD LINE FUNDING-C4 FT2
@ 6.5100 FT2
08/04/2000 M P OLD LINE FUNDING-C4 40.18 MM GOLDMAN SACHS 6.5200 OLD LINE FUNDING-C4 FT2
08/04/2000 due 10/02/2000 CREDIT SUISSE 6.5200 OLD LINE FUNDING-C4 FT2
@ 6.5200 FT2
08/04/2000 M P WINDMILL FNDING CORP-C4 68.09 MM GOLDMAN SACHS 6.5100 WINDMILL FNDING CORP.- FT2
08/04/2000 due 09/06/2000 LEHMAN 6.5100 WINDMILL FNDING CORP.- FT2
@ 6.5100 FT2
09/06/2000 MLG P STUDENT LN MKTG ASSN-AF 199.86 MM CREDIT SUISSE 6.7701 STUDENT LN MKTG ASSN- NR
09/15/2000 due 03/18/2002 GOLDMAN SACHS 6.7599 STUDENT LN MKTG ASSN- NR
@ 6.7702 FTG
09/12/2000 M P LANDESBANK BADEN-WUR- 99.95 MM CHASE MANHATTAN 6.8000 BANK AUSTRIA-YD FT2
09/14/2000 due 09/14/2001 MAXCOR FINANCIAL 6.7900 LANDESBANK HESSEN TH FT2
@ 6.8000 FT2
09/18/2000 M P BRITISH TELECOMMUNIC-CP 49.23 MM GOLDMAN SACHS 6.5100 BRITISH TELECOMMUNIC- FT2
09/20/2000 due 12/14/2000 LEHMAN 6.4500 DEN DANSKE CORP.-CP FT2
@ 6.5100 FT2
09/18/2000 M P BRITISH TELECOMMUNIC-CP 73.94 MM GOLDMAN SACHS 6.5100 BRITISH TELECOMMUNIC- FT2
09/25/2000 due 12/12/2000 LEHMAN 6.4500 DEN DANSKE CORP.-CP FT2
@ 6.5100 FT2
09/19/2000 M P TULIP FUNDING CORP.-C4 69.34 MM GOLDMAN SACHS 6.4800 TULIP FUNDING CORP.-C4 FT2
09/20/2000 due 12/20/2000 SALOMON SMITH BARNE 6.4800 CXC INCORPORATED-C4 FT2
@ 6.4800 FT2
09/20/2000 M P CORPORATE RECEIVABLE-C 49.25 MM SALOMON SMITH BARNE 6.4800 CORPORATE RECEIVABLE FT2
09/20/2000 due 12/12/2000 LEHMAN 6.4700 CORPORATE RECEIVABLE FT2
@ 6.4800 FT2
10/03/2000 M P PREFERRED RECEIVABLE-C4 24.81 MM GOLDMAN SACHS 6.5000 BRITISH TELECOMMUNIC- FT2
10/03/2000 due 11/15/2000 CREDIT SUISSE 6.4800 CORP ASSET FUNDING-C4 FT2
@ 6.5000 FT2
10/04/2000 M P FRANCE TELECOM-C4 26.36 MM GOLDMAN SACHS 6.4800 AEP CREDIT, INC.-C4 FT2
10/04/2000 due 12/15/2000 CREDIT SUISSE 6.4500 CIESCO L.P.-C4 FT2
@ 6.4900 FT2
10/06/2000 M P CAN IMPERIAL BANK-YD 49.99 MM J.P. MORGAN 6.7300 SVENSKA HANDELSBANK FT2
10/10/2000 due 10/10/2001 CREDIT SUISSE 6.7300 DEUTSCHE BANK A.G.-YD FT2
@ 6.7450 FT2
</TABLE>
