0000947871-03-000537 Sample Contracts

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Series Supplement • February 27th, 2003 • Merrill Lynch Depositor Inc Pplus Trust Series GSG 1 • Asset-backed securities • New York

• Contract Type
  Series Supplement
• Filed
  February 27th, 2003
• Company
  Merrill Lynch Depositor Inc Pplus Trust Series GSG 1
• Industry
  Asset-backed securities
• Jurisdiction
  New York

TERMS AGREEMENT

Terms Agreement • February 27th, 2003 • Merrill Lynch Depositor Inc Pplus Trust Series GSG 1 • Asset-backed securities

• Contract Type
  Terms Agreement
• Filed
  February 27th, 2003
• Company
  Merrill Lynch Depositor Inc Pplus Trust Series GSG 1
• Industry
  Asset-backed securities

We understand that Merrill Lynch Depositor, Inc., a Delaware corporation (the "Company"), proposes to issue and sell 3,600,000 PPLUS Class A 6.00% Trust Certificates Series GSG-1 (the "Class A Certificates") at a $25 Stated Amount per Class A Trust Certificate and 3,600,000 PPLUS Class B 0.125% Trust Certificates Series GSG-1 (the "Class B Certificates") with a notional principal amount of $25 per Class B Certificate, (the Class A Certificates and Class B Certificates collectively, the "Underwritten Securities").