-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 A2bAZHo27HcDgCDcabCLWdqd0TijqYPjjluuIIVPxn3GpqfjPZg7bCbZXDJ7p59/
 4plDX+Cp16kzXa2sEmXJNA==

<SEC-DOCUMENT>0000947871-06-000898.txt : 20060512
<SEC-HEADER>0000947871-06-000898.hdr.sgml : 20060512
<ACCEPTANCE-DATETIME>20060512162542
ACCESSION NUMBER:		0000947871-06-000898
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20060512
DATE AS OF CHANGE:		20060512

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:		06835172

	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_051106-internet.txt
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
PROSPECTUS SUPPLEMENT                           REGISTRATION NO. 333-78575
(To Prospectus dated February 17, 2006)         Filed Pursuant to Rule 424(b)(3)


                             [HOLDRS INTERNET LOGO]


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

         This prospectus supplement supplements information contained in the
prospectus dated February 17, 2006 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>
                                                             Share         Primary
               Name of Company                Ticker        Amounts    Trading Market
<S>                                            <C>         <C>             <C>
         Amazon.com, Inc.                      AMZN           18           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
         McAfee, Inc.                          MFE             7            NYSE
         Priceline.com Incorporated            PCLN        1.166666        NASDAQ
         RealNetworks, Inc.                    RNWK            8           NASDAQ
         TD Ameritrade HLDG Corp.              AMTD            9           NASDAQ
         Time Warner Inc.                      TWX            42            NYSE
         Yahoo! Inc.                           YHOO           52           NASDAQ
</TABLE>

         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 March 31, 2006.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----