<Page>

                                                                Exhibit 99.13.01


                              ML SELECT FUTURES I L.P.
                              (A DELAWARE LIMITED PARTNERSHIP)


                              Financial Statements for the years ended
                              December 31, 2004, 2003 and 2002 and Report
                              of Independent Registered Public Accounting
                              Firm


[MERRILL LYNCH LOGO]

<Page>

ML Select Futures I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                     PAGE
                                                                                                     ----
<S>                                                                                                   <C>
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                                                1

FINANCIAL STATEMENTS:

  Statements of Financial Condition as of December 31, 2004 and 2003                                    2

  Statements of Income for the years ended December 31, 2004, 2003 and 2002                             3

  Statements of Changes in Partners' Capital for the years ended December 31, 2004, 2003 and 2002       4

  Financial Data Highlights for the year ended December 31, 2004                                        5

  Notes to Financial Statements                                                                       6-11
</Table>

<Page>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Partners of
 ML Select Futures I L.P.:

We have audited the accompanying statements of financial condition of ML Select
Futures I L.P. (the "Partnership") as of December 31, 2004 and 2003, and the
related statements of income and changes in partners' capital for each of the
three years in the period ended December 31, 2004 and the financial data
highlights for the year ended December 31, 2004. These financial statements and
financial data highlights are the responsibility of the Partnership's
management. Our responsibility is to express an opinion on these financial
statements and financial data highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial data highlights are free of material misstatement. The
Partnership is not required to have, nor were we engaged to perform, an audit of
its internal control over financial reporting. An audit includes consideration
of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Partnership's internal control
over financial reporting. Accordingly, we express no such opinion. An audit also
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial data highlights present
fairly, in all material respects, the financial position of ML Select Futures I
L.P. as of December 31, 2004 and 2003, and the results of its operations,
changes in its partners' capital and the financial data highlights for the each
of the periods presented in conformity with accounting principles generally
accepted in the United States of America.


New York, New York
March 28, 2005

<Page>

ML SELECT FUTURES I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

STATEMENTS OF FINANCIAL CONDITION
DECEMBER 31, 2004 AND 2003

<Table>
<Caption>
                                                                2004             2003
                                                           --------------   --------------
<S>                                                        <C>              <C>
ASSETS:

Equity in commodity futures trading accounts:
  Cash                                                     $  584,353,849   $  256,976,089
  Net unrealized profit on open contracts                      11,458,435       25,529,166
Subscriptions receivable                                          269,811            6,199
Accrued interest                                                1,089,901          190,682
                                                           --------------   --------------

      TOTAL                                                $  597,171,996   $  282,702,136
                                                           ==============   ==============
LIABILITIES AND PARTNERS' CAPITAL

LIABILITIES:

  Brokerage commissions payable                            $    2,736,989   $    1,295,718
  Profit Shares payable                                         4,731,366        8,416,558
  Administrative fees payable                                     163,408          109,409
  Redemptions payable                                           2,561,867        2,391,860
                                                           --------------   --------------

    Total liabilities                                          10,193,630       12,213,545
                                                           --------------   --------------
PARTNERS' CAPITAL:

  General Partner (26,449 Units and 11,300 Units)               6,199,855        2,538,287
  Limited Partners (2,477,625 Units and 1,192,856 Units)      580,778,511      267,950,304
                                                           --------------   --------------

    Total partners' capital                                   586,978,366      270,488,591
                                                           --------------   --------------

      TOTAL                                                $  597,171,996   $  282,702,136
                                                           ==============   ==============

NET ASSET VALUE PER UNIT
(Based on 2,504,074 and 1,204,156 Units outstanding)       $       234.41   $       224.63
                                                           ==============   ==============
</Table>

See notes to financial statements.

                                        2
<Page>

ML SELECT FUTURES I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002

<Table>
<Caption>
                                                         2004              2003              2002
                                                    --------------    --------------    --------------
<S>                                                 <C>               <C>               <C>
TRADING REVENUES:

Trading profit (loss):
  Realized                                          $   52,256,615    $   27,402,575    $    5,392,704
  Change in unrealized                                 (14,070,731)       16,373,295         8,250,855
                                                    --------------    --------------    --------------

    Total trading revenues                              38,185,884        43,775,870        13,643,559
                                                    --------------    --------------    --------------

INVESTMENT INCOME:
Interest                                                 6,875,902         1,831,533         1,124,469
                                                    --------------    --------------    --------------

EXPENSES:

Brokerage commissions                                   26,151,018        10,533,803         4,012,892
Profit Shares                                            4,731,366         8,416,558         2,508,724
Administrative fees                                      1,641,858           622,464           182,404
                                                    --------------    --------------    --------------

    Total expenses                                      32,524,242        19,572,825         6,704,020
                                                    --------------    --------------    --------------

NET INVESTMENT LOSS                                    (25,648,340)      (17,741,292)       (5,579,551)
                                                    --------------    --------------    --------------

NET INCOME                                          $   12,537,544    $   26,034,578    $    8,064,008
                                                    ==============    ==============    ==============

NET INCOME PER UNIT:

  Weighted average number of General Partner
   and Limited Partner Units outstanding                 2,055,550           889,795           384,842
                                                    ==============    ==============    ==============

  Net income per weighted average General Partner
   and Limited Partner Unit                         $         6.10    $        29.26    $        20.95
                                                    ==============    ==============    ==============
</Table>

See notes to financial statements.

                                        3
<Page>

ML SELECT FUTURES I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
FOR THE YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002

<Table>
<Caption>
                                           GENERAL          LIMITED
                          UNITS            PARTNER          PARTNERS           TOTAL
                     --------------    --------------    --------------    --------------
<S>                       <C>          <C>               <C>               <C>
PARTNERS' CAPITAL,
 DECEMBER 31, 2001          284,193    $      396,619    $   50,013,049    $   50,409,668

Subscriptions               282,361           399,885        51,962,906        52,362,791

Net income                        -            62,505         8,001,503         8,064,008

Redemptions                 (27,667)          (29,945)       (5,062,383)       (5,092,328)
                     --------------    --------------    --------------    --------------

PARTNERS' CAPITAL,
 DECEMBER 31, 2002          538,887           829,064       104,915,075       105,744,139

Subscriptions               704,171         1,460,317       145,571,636       147,031,953

Net income                        -           248,906        25,785,672        26,034,578

Redemptions                 (38,902)                -        (8,322,079)       (8,322,079)
                     --------------    --------------    --------------    --------------

PARTNERS' CAPITAL,
 DECEMBER 31, 2003        1,204,156         2,538,287       267,950,304       270,488,591

Subscriptions             1,372,076         3,577,366       316,837,351       320,414,717

Net income                        -           149,055        12,388,489        12,537,544

Redemptions                 (72,158)          (64,853)      (16,397,633)      (16,462,486)
                     --------------    --------------    --------------    --------------

PARTNERS' CAPITAL,
 DECEMBER 31, 2004        2,504,074    $    6,199,855    $  580,778,511    $  586,978,366
                     ==============    ==============    ==============    ==============
</Table>

See notes to financial statements.

                                        4
<Page>

ML SELECT FUTURES I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

FINANCIAL DATA HIGHLIGHTS
FOR THE YEAR ENDED DECEMBER 31, 2004

The following per unit data and ratios have been derived from information
provided in the financial statements.

<Table>
<S>                                                <C>
PER UNIT OPERATING PERFORMANCE:

Net asset value, beginning of year                 $   224.63

Realized trading profit                                 36.12
Change in unrealized trading profit (loss)             (12.22)
Interest income                                          3.14
Expenses                                               (17.26)
                                                   ----------

Net asset value, end of year                       $   234.41
                                                   ==========

TOTAL RETURN:

Total return before Profit Shares                        5.84%
Profit Shares                                           -1.70%
Total return                                             4.35%

RATIOS TO AVERAGE NET ASSETS:

Expenses (excluding Profit Shares)                       6.13%
Profit Shares                                            1.04%
                                                   ----------
Expenses                                                 7.17%
                                                   ==========

Net investment loss                                     -5.65%
                                                   ==========
</Table>

See notes to financial statements.

                                        5
<Page>

ML SELECT FUTURES I L.P.
(A DELAWARE LIMITED PARTNERSHIP)

NOTES TO FINANCIAL STATEMENTS

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

      ORGANIZATION

      ML Select Futures I L.P. (the "Partnership") was organized under the
      Delaware Revised Uniform Partnership Act in August 1995 and commenced
      trading activities on April 16, 1996. The Partnership issues new units of
      limited partner interest ("Units") at Net Asset Value as of the beginning
      of each calendar month. The Partnership engages in the speculative trading
      of futures, options on futures and forward contracts on a wide range of
      commodities. Sunrise Capital Partners, LLC ("Sunrise") is the trading
      advisor of the Partnership. Merrill Lynch Alternative Investments LLC
      ("MLAI"), is the general partner of the Partnership. MLAI is a
      wholly-owned subsidiary of Merrill Lynch Investment Managers ("MLIM")
      which in turn, is an indirect wholly-owned subsidiary of Merrill Lynch &
      Co., Inc. ("Merrill Lynch"). Merrill Lynch, Pierce, Fenner & Smith
      Incorporated ("MLPF&S"), a wholly-owned subsidiary of Merrill Lynch, is
      the Partnership's commodity broker. MLAI has agreed to maintain a general
      partner's interest of at least 1% of the total capital in the Partnership.
      MLAI and each Limited Partner share in the profits and losses of the
      Partnership in proportion to their respective interests in it.

      ESTIMATES

      The preparation of financial statements in conformity with accounting
      principles generally accepted in the United States of America requires
      management to make estimates and assumptions that affect the reported
      amounts of assets and liabilities and disclosure of contingent assets and
      liabilities at the date of the financial statements and the reported
      amounts of revenues and expenses during the reporting period. Actual
      results could differ from those estimates.

      REVENUE RECOGNITION

      Commodity futures, options on futures and forward contract transactions
      are recorded on the trade date and open contracts are reflected in "net
      unrealized profit on open contracts" in the Statements of Financial
      Condition at the difference between the original contract value and the
      market value (for those commodity interests for which market quotations
      are readily available) or at fair value. The change in unrealized profit
      (loss) on open contracts from one period to the next is reflected in
      change in unrealized in the Statements of Income.

      FOREIGN CURRENCY TRANSACTIONS

      The Partnership's functional currency is the U.S. dollar; however, it
      transacts business in currencies other than the U.S. dollar. Assets and
      liabilities denominated in currencies other than the U.S. dollar are
      translated into U.S. dollars at the rates in effect at the dates of the
      Statements of Financial Condition. Income and expense items denominated in
      currencies other than the U.S. dollar are translated into U.S. dollars at
      the rates in effect during the period. Gains and losses resulting from the
      translation to U.S. dollars are reported in "realized" in the Statements
      of Income.

                                        6
<Page>

      OPERATING EXPENSES AND SELLING COMMISSIONS

      MLAI pays all routine operating expenses excluding the State of New Jersey
      filing fee (which is borne by the Partnership) but including legal,
      accounting, printing, postage and similar administrative expenses of the
      Partnership. MLAI receives an administrative fee as well as a portion of
      the brokerage commissions paid to MLPF&S by the Partnership (see Note 3).

      No selling commissions have been or are paid directly by the Limited
      Partners. All selling commissions are paid by MLAI.

      INCOME TAXES

      No provision for income taxes has been made in the accompanying financial
      statements as each Partner is individually responsible for reporting
      income or loss based on such Partner's share of the Partnership's income
      and expenses as reported for income tax purposes.

      DISTRIBUTIONS

      The Limited Partners are entitled to receive, equally per Unit, any
      distributions which may be made by the Partnership. No such distributions
      have been declared for the years ended December 31, 2004, 2003 or 2002.

      REDEMPTIONS

      A Limited Partner may redeem some or all of such Partner's Units at Net
      Asset Value as of the close of business on the last business day of any
      calendar month upon ten days' notice. Units redeemed on or prior to the
      end of the twelfth full month after purchase are assessed an early
      redemption charge of 3% of their Net Asset Value as of the date of
      redemption and, at or after the thirteenth full month through the
      twenty-fourth full month after the purchase, are assessed an early
      redemption charge of 1.5% of their Net Asset Value as of the date of
      redemption. Effective February 1, 2004 all new subscriptions are subject
      to a new redemption charge structure. Units redeemed on or before the end
      of the twelfth full month after purchase will be assessed an early
      redemption charge of 4% of their Net Asset Value as of the date of
      redemption. If an investor makes multiple investments in the Partnership,
      investments are treated on a first-in, first-out basis in determining
      whether a redemption charge is applicable. Redemption charges are
      subtracted from redemption proceeds and paid to MLAI.

      The Financial Accounting Standards Board ("FASB") has issued Statement
      No. 150, ACCOUNTING FOR CERTAIN FINANCIAL INSTRUMENTS WITH
      CHARACTERISTICS OF BOTH LIABILITIES AND EQUITY, ("FAS 150") and is
      effective for mandatorily redeemable financial instruments of entities
      that are public entities for the first interim period beginning after
      June 15, 2003. FAS 150 requires that a mandatorily redeemable financial
      instrument shall be classified as a liability if the financial interest
      is required be redeemed at a specified date or upon an event certain to
      occur. The limited partners' financial interests are not required to be
      redeemed at a specified date or upon an event certain to occur and thus
      are not considered mandatorily redeemable financial instruments.
      However, the limited partner may give 10 days notice for redemption of
      their units and redeem at that month's net asset value. The Partnership
      records the financial interests redeemed as a liability once the notice
      of redemption is received from the limited partner. The adoption of FAS
      150 will have no impact on the financial statements of the Partnership.

      DISSOLUTION OF THE PARTNERSHIP

      The Partnership will terminate on December 31, 2020 or at an earlier date
      if certain conditions occur, as well as under certain other circumstances
      as set forth in the Limited Partnership Agreement.

                                        7
<Page>

2.    CONDENSED SCHEDULE OF INVESTMENTS

      The Partnership's investments, defined as Net unrealized profit on open
      contracts on the Statements of Financial Condition, as of December 31,
      2004 and 2003, are as follows:

      2004
<Table>
<Caption>
                                       LONG POSITIONS                              SHORT POSITIONS
                           ---------------------------------------    -----------------------------------------
      COMMODITY INDUSTRY   NUMBER OF     UNREALIZED     PERCENT OF    NUMBER OF       UNREALIZED     PERCENT OF
            SECTOR         CONTRACTS    PROFIT (LOSS)   NET ASSETS    CONTRACTS     PROFIT (LOSS)    NET ASSETS
            ------         ---------    -------------   ----------    ---------     -------------    ----------
      <S>                 <C>          <C>                    <C>    <C>           <C>                    <C>
      Agriculture              1,546   $    2,987,006         0.51%       (1,467)  $       510,440         0.09%
      Currencies          13,823,840       14,653,772         2.50%  (61,490,908)      (14,882,532)       -2.53%
      Interest rates           7,759        1,944,101         0.33%       (3,341)        1,415,825         0.24%
      Metals                   4,159        5,486,884         0.93%         (664)       (3,319,781)       -0.57%
      Stock indices            1,077        2,662,720         0.45%            -                 -         0.00%
                                       --------------                              ---------------
      Total                            $   27,734,483         4.72%                $   (16,276,048)       -2.77%
                                       ==============                              ===============
<Caption>
                            NET UNREALIZED
      COMMODITY INDUSTRY     PROFIT (LOSS)    PERCENT OF
            SECTOR         ON OPEN POSTIONS   NET ASSETS       MATURITY DATES
            ------         ----------------   ----------       --------------
      <S>                  <C>                     <C>      <C>
      Agriculture          $      3,497,446         0.60%          March-05
      Currencies                   (228,760)       -0.03%          March-05
      Interest rates              3,359,926         0.57%   March 05 -December 05
      Metals                      2,167,103         0.36%    January 05 -March 05
      Stock indices               2,662,720         0.45%          March-05
                           ----------------
      Total                $     11,458,435         1.95%
                           ================
</Table>

      2003
<Table>
<Caption>
                                        LONG POSITIONS                              SHORT POSITIONS
                            ---------------------------------------    ------------------------------------------
      COMMODITY INDUSTRY    NUMBER OF     UNREALIZED     PERCENT OF    NUMBER OF       UNREALIZED      PERCENT OF
            SECTOR          CONTRACTS    PROFIT (LOSS)   NET ASSETS    CONTRACTS     PROFIT (LOSS)     NET ASSETS
            ------          ---------    -------------   ----------    ---------     -------------     ----------
      <S>                  <C>          <C>                   <C>      <C>          <C>                     <C>
      Agriculture                 571   $     (459,690)       -0.17%            -   $             -          0.00%
      Currencies           14,100,000        5,837,163         2.16%   (6,201,500)         (327,906)        -0.12%
      Energy                    1,232         (770,340)       -0.28%            -                 -          0.00%
      Interest rates              969          177,918         0.07%       (1,178)         (305,627)        -0.11%
      Metals                    4,367       21,261,141         7.86%          (81)       (2,367,306)        -0.88%
      Stock indices               561        2,483,813         0.92%            -                 -          0.00%
                                        --------------                              ---------------
      Total                             $   28,530,005        10.56%                $    (3,000,839)        -1.11%
                                        ==============                              ===============
<Caption>
                            NET UNREALIZED
      COMMODITY INDUSTRY     PROFIT (LOSS)    PERCENT OF
            SECTOR         ON OPEN POSTIONS   NET ASSETS        MATURITY DATES
            ------         ----------------   ----------        --------------
      <S>                  <C>                     <C>      <C>
      Agriculture          $       (459,690)       -0.17%          March 04
      Currencies                  5,509,257         2.04%          March 04
      Energy                       (770,340)       -0.28%         February 04
      Interest rates               (127,709)       -0.04%   March 04 - December 04
      Metals                     18,893,835         6.98%    January 04 - March 04
      Stock indices               2,483,813         0.92%          March 04
                           ----------------
      Total                $     25,529,166         9.45%
                           ================
</Table>

      No individual contract's unrealized profit or loss comprised greater than
      5% of the Partners' Capital during 2004 or 2003.

                                        8
<Page>

3.    RELATED PARTY TRANSACTIONS

      The Partnership's U.S. dollar assets are maintained at MLPF&S. On assets
      held in U.S. dollars, Merrill Lynch credits the Partnership with interest
      at the prevailing 91-day U.S. Treasury bill rate. The Partnership is
      credited with interest on any of its assets and net gains actually held by
      MLPF&S non-U.S. dollar currencies at a prevailing local rate received by
      Merrill Lynch. Merrill Lynch may derive certain economic benefit, in
      excess of the interest, which Merrill Lynch pays to the Partnership, from
      possession of such assets.

      Merrill Lynch charges the Partnership at prevailing local rates for
      financing realized and unrealized losses on the Partnership's non-U.S.
      dollar-denominated positions. Such amounts are netted against interest
      income due to the insignificance of such amounts.

      The Partnership pays brokerage commissions to MLPF&S at a flat monthly
      rate equal to .458 of 1% (a 5.50% annual rate) of the Partnership's
      month-end assets. The Partnership pays administrative fees to MLAI at a
      flat monthly rate equal to .021 of 1% (a 0.25% annual rate) of the
      Partnership's month-end assets and, beginning in 2003, the actual State of
      New Jersey annual filing fee assessed on a per partner basis with a
      maximum of $250,000 per year. Month-end trading assets are not reduced,
      for purposes of calculating brokerage commissions and administrative fees,
      by any accrued brokerage commissions, administrative fees, Profit Shares
      or other fees or charges.

      MLAI estimates that the round-turn equivalent commission rate charged to
      the Partnership during the years ended December 31, 2004, 2003 and 2002
      was approximately $318, $265 and $193 respectively (not including, in
      calculating round-turn equivalents, forward contracts on a
      futures-equivalent basis).

      MLPF&S pays Sunrise a monthly consulting fee of .083 of 1% (a 1% annual
      rate) of the month-end assets, after reduction for a portion of the
      brokerage commissions.

4.    ADVISORY AGREEMENT

      The Partnership entered into an Advisory Agreement with Sunrise. The
      Advisory Agreement between the Partnership and Sunrise continues to be in
      effect, subject to certain renewal rights exercisable by the Partnership.
      Sunrise determines the commodity futures, options on futures and forward
      contracts traded by the Partnership, subject to certain trading policies
      and to certain rights reserved by MLAI.

      Profit Shares equal to 23% of any New Trading Profit, as defined, as of
      the end of each calendar year are paid to Sunrise. Profit Shares are also
      paid out in respect of Units redeemed (to the extent they exceed the
      number of Units purchased) as of the end of interim months during a
      calendar year, to the extent of the applicable percentage of any New
      Trading Profit attributable to such Units.

5.    WEIGHTED AVERAGE UNITS

      The weighted average number of Units outstanding is computed for purposes
      of calculating net income per weighted average Unit. The weighted average
      number of Units outstanding for the years ended December 31, 2004, 2003
      and 2002 equals the Units outstanding as of such date, adjusted
      proportionately for Units sold or redeemed based on the respective length
      of time each was outstanding during such year.

                                        9
<Page>

6.    FAIR VALUE AND OFF-BALANCE SHEET RISK

      The nature of this Partnership has certain risks, which cannot be
      presented on the financial statements. The following summarizes some of
      those risks.

      MARKET RISK

      Derivative instruments involve varying degrees of off-balance sheet market
      risk. Changes in the level or volatility of interest rates, foreign
      currency exchange rates or the market values of the financial instruments
      or commodities underlying such derivative instruments frequently result in
      changes in the Partnership's net unrealized profit on such derivative
      instruments as reflected in the Statements of Financial Condition. The
      Partnership's exposure to market risk is influenced by a number of
      factors, including the relationships among the derivative instruments held
      by the Partnership as well as the volatility and liquidity of the markets
      in which the derivative instruments are traded.

      MLAI has procedures in place intended to control market risk exposure,
      although there can be no assurance that they will, in fact, succeed in
      doing so. These procedures focus primarily on monitoring the trading of
      Sunrise, calculating the Net Asset Value of the Partnership as of the
      close of business on each day and reviewing outstanding positions for
      over-concentrations. While MLAI does not itself intervene in the markets
      to hedge or diversify the Partnership's market exposure; MLAI may urge
      Sunrise to reallocate positions in an attempt to avoid
      over-concentrations. However, such interventions are unusual and unless it
      appears that Sunrise has begun to deviate from past practice or trading
      policies or to be trading erratically, MLAI's basic risk control
      procedures consist simply of the ongoing process of advisor monitoring,
      with the market risk controls being applied by Sunrise itself.

      CREDIT RISK

      The risks associated with exchange-traded contracts are typically
      perceived to be less than those associated with over-the-counter
      (non-exchange-traded) transactions, because exchanges typically (but not
      universally) provide clearinghouse arrangements in which the collective
      credit (in some cases limited in amount, in some cases not) of the members
      of the exchange is pledged to support the financial integrity of the
      exchange. In over-the-counter transactions, on the other hand, traders
      must rely solely on the credit of their respective individual
      counterparties. Margins, which may be subject to loss in the event of a
      default, are generally required in exchange trading, and counterparties
      may also require margin in the over-the-counter markets.

      The credit risk associated with these instruments from counterparty
      nonperformance is the "net unrealized profit on open contracts", if any,
      included in the Statements of Financial Condition. The Partnership
      attempts to mitigate this risk by dealing exclusively with Merrill Lynch
      entities as clearing brokers.

      The Partnership, in its normal course of business, enters into various
      contracts, with MLPF&S acting as its commodity broker. Pursuant to the
      brokerage agreement with MLPF&S (which includes a netting arrangement), to
      the extent that such trading results in receivables from and payables to
      MLPF&S, these receivables and payables are offset and reported as a net
      receivable or payable and included in net unrealized profit (loss) on open
      contracts on the Statements of Financial Condition.

                                       10
<Page>

                              * * * * * * * * * * *

                 To the best of the knowledge and belief of the
                 undersigned, the information contained in this
                        report is accurate and complete.


                               Michael L. Pungello
                             Chief Financial Officer
                    Merrill Lynch Alternative Investments LLC
                               General Partner of
                            ML Select Futures I L.P.

                                       11