RNS Number:6201F
Merrill Lynch Defined ReturnsII PLC
24 November 2004











                          STOCK EXCHANGE ANNOUNCEMENT





              Merrill Lynch Defined Returns 2 Plc ("the Company")





                   FOR IMMEDIATE RELEASE - 24th November 2004



























                                Re: Net Asset Value



The Company announces that the Net Asset Values as at 19 November 2004:

Per Income Shares 82.90p

Per Growth Shares 110.80p


















                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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