Net Asset Value(s)

RNS Number:6819U
Merrill Lynch Asset Allocator PLC
27 January 2004



NET ASSET VALUE

MERRILL LYNCH ASSET ALLOCATOR plc

The unaudited net asset value for Merrill Lynch Asset Allocator plc at close of
business on 26 January 2004 was:

Growth - 81.38p

Balanced - 91.56p

Notes:

1. Revenue items, disclosed in the most recent monthly announcement, are
included in net asset value, with dividends deducted on the ex-dividend date.

2. For the latest daily net asset value, previous month and performance
statistics, asset allocation and ten largest holdings of the Merrill Lynch
Investment Trusts, see MLIMINDEX on Reuters or page 8800 on ICV (Topic 3).

3. 290,000 Growth shares purchased on 23 January 2004 (total 20.3 million Growth
shares purchased from 22 February 2002) has been reflected in these
calculations.

4. 100,000 Balanced shares purchased on 17 October 2003 (total 2.3 million
Balanced shares purchased from 22 February 2002) has been reflected in these
calculations.)



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

END
NAVFGGZMZNRGDZM