Merrill Lynch News Release
Media:         Steve Conway    612-683-7133
Financial:     Chris Malacek 612-832-5000

CRAY RESEARCH SUPERCOMPUTER INSTALLED WITH
FIRST WALL STREET FIRM


EAGAN, Minn., Nov. 29, 1993 -- Merrill Lynch & Co. (NYSE:MER)
has become the first Wall Street investment firm to install a
Cray Research (NYSE:CYR) supercomputer system, Cray
Research said today.

The CRAY Y-MP2E system, now installed at Merrill Lynch's
World Financial Center headquarters in Manhattan, will be used
for proprietary trading analyses and risk management of
existing portfolios.  The terms were not disclosed.

Merrill said that the Cray system was chosen after evaluations
were performed involving both vector and massively parallel
supercomputers.  Merrill Lynch plans to use the Cray Research
system to price and hedge complex financial instruments
faster and more precisely.

"We are delighted that an industry leader like Merrill Lynch
will be the first Wall Street investment firm to apply the
power of a Cray system," said Cray Research chairman and CEO
John F. Carlson.  "We will fully support Merrill Lynch in its
goal to set the new technology standards on Wall Street for
financial analysis applications."

Carlson said Merrill Lynch's decision confirms that the
financial industry is poised to move up to Cray supercomputing
power.  "Winning this key account substantially boosts Cray
Research's credibility as we work to further penetrate this
new market."  Recently announced industry orders, he said,
include a second CRAY Y-MP EL system for the Federal Home
Loan Mortgage Association ("Freddie Mac"), and a CRAY Y-MP
EL98 system for Atlantic Portfolio Analytics & Management,
Inc. (APAM), Orlando, Fla.

Cray Research creates the most powerful, highest-quality
computational tools for solving the world's most challenging
scientific and industrial problems.

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