CONTACT: Melanie Pipkin
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Jul 6, 2006

MERRILL LYNCH OFFERS SCHOLARSHIPS TO PROGRAM GRADUATES

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Merrill Lynch granted scholarships to select graduating cadets from 21 Youth ChalleNGe programs across the country.  Thanks to a $1 million grant from the company, two students from each site received $2,000 scholarships to attend the college or technical school of their choice.  Now that cadets have graduated from the program’s 22-week Residential Phase, they will transition into a year-long mentorship with the mentor of their choice.

Program participants were awarded scholarships based on both their overall success in the program and their interest in pursuing business as a career.  Merrill Lynch announced its contribution at the National Guard Youth Foundation’s ChalleNGe Champions Dinner in February.  The June 2006 graduating cadets were the first group to ever receive the Merrill Lynch NGYF scholarships.  In honor of the occasion, representatives from the company were present at the graduation ceremonies nationwide to present the scholarships to the awardees.

“Merrill Lynch is proud to support the National Guard Youth ChalleNGe Program and to be a part of these phenomenal turn-around stories,” Merrill Lynch Foundation President Eddy Bayardelle said.  “Youth ChalleNGe graduates are living proof of the transformative power of education and dedicated mentorship and it’s our sincere hope that the Merrill Lynch scholarships will help these students reach their life goals.”

In addition to Merrill Lynch’s generous donation, the company’s financial literacy initiative, Investing Pays Off®, was added to the Youth ChalleNGe Program and is being supported by Merrill Lynch volunteers nationwide.

Graduating cadets have prepared for life after graduation by developing Post-Residential Action Plans that outline steps to begin college, start jobs, enter the military or continue high school.  Under the mentorship program, cadets will focus on their life goals by regularly seeking the counsel of their mentors.

Graduation ceremonies were held in Arizona, California, Florida, Georgia – Fort Stewart, Hawaii, Illinois, Kentucky, Louisiana – Camp Beauregard, Maryland, Michigan, Mississippi, Montana, New Mexico, North Carolina, Oklahoma, South Carolina – Camp Long, South Carolina – Columbia, Texas, Virginia, Wisconsin and Wyoming.

As of June 2006, the NGYCP has graduated more than 66,000 cadets since its inception.