|KeyBank Real Estate Capital
911 Main Street, Suite 1500
Kansas City, Mo 64105
Tel: 816-221-8800
Fax: 816-221-8051
Toll Free: 888-979-1200
March 12, 2005 KeyCorp Real Estate Capital Markets, Inc. As Master Servicer and Special Servicer Annual Officer's Certification For Period of: September 1 through December 31, 2004 Re: MLMT 2004-KEY2 Pooling and Servicing Agreement With regard to the loans Master Serviced by KeyCorp Real Estate Capital Markets, Inc. d/b/a KeyBank Real Estate Capital (KBREC) in the above captioned transaction, and pursuant to Section 3.13 of the Pooling and Servicing Agreement, please be advised of the following:
* A review of the activities of KBR.EC during the preceding calendar year and of its performance, under the Agreement, has been made under my supervision.

* To the best of my knowledge, based on such review, KBREC has fulfilled all of its obligations under the Agreement in all material respects.

* KBREC has received no notice regarding qualification or challenge to the status of the loan REMIC, REMIC I or REMIC II as a REMIC under the REMIC Provisions or of Grantor Trust Z, Grantor Trust E or Grantor Trust B as a "grantor trust" for income tax purposes under the Grantor Trust Provisions from the Internal Revenue Service or any governing agency or body.
Date: 3/14/05 By: /s/ Bryan S. Nitcher Bryan S. Nitcher, Vice President Loan Servicing and Asset Management
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|KeyBank Real Estate Capital
911 Main Street, Suite 1500
Kansas City, Mo 64105
Tel: 816-221-8800
Fax: 816-221-8051
Toll Free: 888-979-1200
March 12, 2005 TrusteeLaSalle Bank National Association 135 LaSalle Street Suite 11625 Chicago, Illinois 60603 Attn:   Global Securitization Trust Services Group
Merrill Lynch Mortgage Trust 2004-KEY2
DepositorMerrill Lynch Mortgage Investors Incorporated 4 World Financial Center, 10 th Floor 250 Vesey Street New York, New York 10080 Attn: Michael M. McGovern Rating AgencyMoody's Investors Services, Inc. 99 Church Street New York, New York 10007 Attn: CMBS Monitoring Department Fitch, Incorporated Commercial Mortgage Backed Securities One State Street Plaza New York, New York 10004 Attn: Surveillance Directing Certificate HolderFirst Chicago Capital Corporation One Bank One Plaza, IL1-0616 14 th Floor Chicago, Illinois 60670-0616                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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