-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WmL+PVLZFzVrHL3jKkfXWHkKG9JQDathfcu4uY4RS3QGGgNgLu1Q8IecxAOE4dYN
 Lael9ha6g+Nmkguj/qqGNQ==

<SEC-DOCUMENT>0000947871-05-002016.txt : 20051110
<SEC-HEADER>0000947871-05-002016.hdr.sgml : 20051110
<ACCEPTANCE-DATETIME>20051109214754
ACCESSION NUMBER:		0000947871-05-002016
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20051110
DATE AS OF CHANGE:		20051109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH PIERCE FENNER & SMITH INC
		CENTRAL INDEX KEY:			0000728612
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-78575
		FILM NUMBER:		051191797

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2126702273

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>f424b3_110505-internethldrs.txt
<DESCRIPTION>INTERNET HOLDERS
<TEXT>

PROSPECTUS SUPPLEMENT                           REGISTRATION NO. 333-78575
(To Prospectus dated October 25, 2004)          Filed Pursuant to Rule 424(b)(3)


                               [graphic omitted]


                        1,000,000,000 Depositary Receipts
                           Internet HOLDRS (SM) Trust

     This prospectus supplement supplements information contained in the
prospectus dated October 25, 2004 relating to the sale of up to 1,000,000,000
depositary receipts by the Internet HOLDRS (SM) Trust.

     The share amounts specified in the table in the "Highlights of Internet
HOLDRS" section of the base prospectus shall be replaced with the following:

<TABLE>
<CAPTION>
                                                                                           Primary
                                                                              Share        Trading
                      Name of Company(1)                       Ticker        Amounts        Market
     ----------------------------------------------------      -------       --------      ---------
     <S>                                                       <C>           <C>           <C>
     Amazon.com, Inc.                                           AMZN           18           NASDAQ
     Ameritrade Holding Corporation                             AMTD            9           NASDAQ
     CMGI Inc.                                                  CMGI           10           NASDAQ
     CNET Networks, Inc.                                        CNET            4           NASDAQ
     EarthLink, Inc.                                            ELNK          6.23          NASDAQ
     eBay Inc.                                                  EBAY           48           NASDAQ
     E*TRADE Financial Corporation                               ET            12            NYSE
     McAffee Inc.                                               MFE             7            NYSE
     Priceline.com Incorporated                                 PCLN          1.167         NASDAQ
     RealNetworks, Inc.                                         RNWK            8           NASDAQ
     Time Warner Inc.                                           TWX            42            NYSE
     Yahoo! Inc.                                                YHOO           52           NASDAQ
</TABLE>

     (1) Effective July 14, 2005, Doubleclick Inc. (NASDAQ: "DCLK") was delisted
from trading on The Nasdaq National Market as a result of its acquisition by
Hellman & Freidman LLC. Consequently, Doubleclick Inc. is no longer an
underlying constituent of the Internet HOLDRS Trust. For the 4 shares of
Doublclick Inc. per 100 share round lot of Internet HOLDRS, The Bank of New York
received $34.00 in cash, and distributed such cash at a rate of $0.30 per
depositary share.

     The share amounts listed in the table above reflect all previous stock
splits, dividends and business combination transactions.

          The date of this prospectus supplement is September 30, 2005.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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