January 14, 2002


                                POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS that each person whose signature appears below
constitutes and appoints Mitchell M. Cox and Stephen G. Bodurtha and each of
them, with full power to act without the other, his true and lawful
attorneys-in-fact and agents with full and several power of substitution, for
him and in his name, place and stead, in any and all capacities, to sign any and
all amendments, including post-effective amendments, and supplements to the
Registration Statements for each of the Biotech HOLDRSSM Trust, B2B Internet
HOLDRSSM Trust, Broadband HOLDRSSM Trust, Trust Europe 2001 HOLDRSSM Trust,
Internet HOLDRSSM Trust, Internet Architecture HOLDRSSM Trust, Internet
Infrastructure HOLDRSSM Trust, Market 2000+ HOLDRSSM Trust, Oil Service HOLDRSSM
Trust, Pharmaceutical HOLDRSSM Trust, Regional Bank HOLDRSSM Trust,
Semiconductor HOLDRSSM Trust, Software HOLDRSSM Trust, Telecom HOLDRSSM Trust,
Wireless HOLDRSSM Trust, Utilities HOLDRSSM Trust and Retail HOLDRSSM Trust, and
to file the same, with all exhibits thereto and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises, as fully and to all intents and purposes as he might or could do in
person, hereby ratifying and conforming all that said attorneys-in-fact and
agents, or their substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.

         Signature                                         Title
         ---------                                         -----


 /s/ E. Stanley O'Neal                Chief Executive Officer, Chairman of the
------------------------              Board and Director
E. Stanley O'Neal


/s/ George A. Schieren                Director
----------------------==
George A. Schieren


/s/ Thomas H. Patrick                 Director
------------------------
Thomas H. Patrick


/s/ John J. Fosina                    Chief Financial Officer
------------------------
John J. Fosina


/s/ Dominic A. Carone                 Controller
-------------------------
Dominic A. Carone