Enron Corp. - University of California | Office of The President

of and controlled by Bank of America Corp., acted as an underwriter in connection with the
following Enron and Enron affiliated entity securities offerings: Enron's 5/19/99 7.375% Notes due
5/15/19; Enron's 8/10/99 7% Exchangeable Notes due 7/31/02; Enron's 5/18/00 8.375% Medium
Term Notes, Series A due 5/23/05; Enron's 2/01 sale (and resale on 7/01) Zero Coupon Convertible
Senior Notes due 21; and the Marlin Water Trust II, Marlin Water Corp. II 7/12/01 6.31% and 6.19%
Senior Secured Notes due 03.
105. (a) Defendant Merrill Lynch & Co., Inc. is a large integrated financial services
institution that through known and unknown subsidiaries, divisions and/or affiliates acting as the
agent of and controlled by Merrill Lynch & Co., Inc., such as Merrill Lynch, Pierce, Fenner & Smith
(collectively, "Merrill Lynch"), provides commercial and investment banking services, commercial
loans to corporate entities, and advisory services regarding the structuring of financial transactions,
including engaging in or helping to structure derivatives and hedging financial transactions, acting
as underwriter in the sale of corporate securities to the public and providing investment analysis and
opinions on public companies, including its clients, via reports issued by securities analysts. Merrill
Lynch engaged and participated in the scheme to defraud purchasers of Enron securities and Enron's
course of business which operated as a fraud and deceit on purchasers of Enron's securities by
rendering all of the above services to Enron as described in greater detail in the section of this
Complaint entitled "Involvement of Merrill Lynch." In addition to Merrill Lynch & Co., Inc., the
following subsidiaries, divisions, and/or affiliates, acting at the direction of and under the control
of Merrill Lynch & Co., Inc., are specifically named as defendants:
(b) Merrill Lynch, Pierce, Fenner & Smith, Inc. – under the control of Merrill
Lych & Co., Inc. – acted (as is detailed further in the section of this Complaint entitled "Involvement
of Merrill Lynch") to further the defendants' fraudulent scheme by repeatedly issuing throughout the
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