|Exhibit 99.5 Holders of Record, holding 5% or more of the outstanding balance for Merrill Lynch Mortgage Investors, Inc., Commercial Mortgage Pass-Through Certificates, Series 2004-KEY2 as reflected in the security position listing as of December 31, 2004 provided by DTC.  Class
Name and Address of Holder


Amount Held
% Class
A-1
JP Morgan Chase Bank NA


42,500,000
72%

14201 Dallas Parkway

Dallas, TX 75254

Fifth Third Bank



13,500,000
22%

38 Fountain Square Plaza

Mail Drop 1090F1

Cincinnati, OH 45263
A-2
Citibank




10,290,000
5%

3800 Citibank Center B3-15

Tampa, FL 33610

JP Morgan Chase Bank NA


32,285,000
16%

14201 Dallas Parkway

Dallas, TX 75254

Fifth Third Bank



42,000,000
21%

38 Fountain Square Plaza

Mail Drop 1090F1

Cincinnati, OH 45263

SSB&T Co.




83,130,000
42%

1776 Heritage Dr.

Global Corporate Action Unit JAB 5NW

No. Quincy, MA 02171
A-3
The Bank of New York


35,000,000
38%

One Wall Street

New York, NY 10286

JPMCB/Prudential



5,700,000
6%

14201 Dallas Pkwy, 12 th Floor

Dallas, TX 75240

SSB&T Co.




15,150,000
16%

1776 Heritage Dr.

Global Corporate Action Unit JAB 5NW

No. Quincy, MA 02171

Citibank




19,126,000
20%

3800 Citibank Center B3-15

Tampa, FL 33610

JP Morgan Chase Bank NA


12,745,000
13%

14201 Dallas Parkway

Dallas, TX 75254
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|A-4
Citibank




65,000,000
18%

3800 Citibank Center B3-15

Tampa, FL 33610

JPMCB/Prudential



40,000,000
11%

14201 Dallas Pkwy, 12 th Floor

Dallas, TX 75240

Mellon Trust



37,000,000
10%

525 William Penn Place, Suite 3418

Pittsburgh, PA 15259 SSB&T Co.




42,940,000
12%

1776 Heritage Dr.

Global Corporate Action Unit JAB 5NW

No. Quincy, MA 02171

JP Morgan Chase Bank NA


51,870,000
15%

14201 Dallas Parkway

Dallas, TX 75254

Merrill Lynch




92,856,000
26%

101 Hudson Street, Ninth Floor

Jersey City, NJ 07302
B
Citibank




12,000,000
45%

3800 Citibank Center B3-15

Tampa, FL 33610

Mellon Trust



7,000,000
26%

525 William Penn Place, Suite 3418

Pittsburgh, PA 15259 SSB&T Co.




7,474,000
28%

1776 Heritage Dr.

Global Corporate Action Unit JAB 5NW

No. Quincy, MA 02171
C
Citibank




8,361,000
100%

3800 Citibank Center B3-15

Tampa, FL 33610
D
The Bank of New York


10,000,000
44%

One Wall Street

New York, NY 10286

Citibank




12,295,000
56%

3800 Citibank Center B3-15

Tampa, FL 33610
E
Citibank




12,540,000
100%

3800 Citibank Center B3-15

Tampa, FL 33610                                                                                                                                                                                                                
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