MERCK & CO., INC. ANNOUNCES PLAN TO INVEST UP TO $100 MILLION IN CAPITAL IN EMERGING BUSINESSES

Companies Funded Will Offer Improvements to Pharmaceutical
and Related Health Care Services

WHITEHOUSE STATION, N.J., November 28, 2000 - Merck & Co., Inc. (NYSE: MRK) announced today that it has formed a new subsidiary, Merck Capital Ventures, to invest up to $100 million in capital in private Internet and other emerging businesses focused in areas related to the commercialization, distribution and delivery of pharmaceuticals and related health care services. Per G. H. Lofberg relinquished his post as chairman of Merck-Medco, effective Nov. 27, 2000, to head the new venture as president.

           "The Internet has without question accelerated innovation related to the pharmaceutical business, the pharmacy benefit management industry and many other sectors of health care delivery," said Mr. Lofberg. "During the past two years it has already significantly impacted Merck-Medco's business, but we are only at the very beginning of understanding and capitalizing on its potential to transform many long-established processes in the pharmaceutical industry and the health care field as a whole."

           Merck Capital Ventures, which is based in Montvale, N.J., will immediately begin searching for investment opportunities. The company's target is to invest approximately $100 million in capital. This fund will not be used to invest in research-based pharmaceutical, vaccine or biotechnology companies.

           "Per led Merck-Medco's transformation into a leader in Internet health care," said Merck Chairman Raymond V. Gilmartin. "The organization is now the world's largest online pharmacy and an important nexus of connectivity among doctors, patients and insurers. We are pleased that Per will remain at Merck, contributing his expertise in building our Internet capabilities. With the strong leadership of Richard Clark at its helm, Merck-Medco will continue to enhance its Internet presence." Mr. Clark, who has been with Merck for more than 20 years, is president of Merck-Medco, a position he has held since January 2000. He reports directly to Mr. Gilmartin.

           "There is enormous upside potential with taking advantage of Internet and other emerging business opportunities," said Judy Lewent, who is senior vice president and chief financial officer and responsible for business development at Merck. "Our goal is to build a venture capital portfolio of promising emerging companies that can bring added capabilities to Merck's and Merck-Medco's core businesses and also offer attractive long-term investment returns."

           Parties interested in proposing investment opportunities to Merck Capital Ventures, should write to or e-mail Per Lofberg at Merck Capital Ventures, 101 Paragon Drive, Montvale, N.J. 07645, or per_lofberg@merck.com.

About Merck
           Merck & Co., Inc., is a leading research-driven pharmaceutical products and services company. Merck discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint ventures. Merck-Medco manages pharmacy benefits for employers, insurers and other plan sponsors, encouraging the appropriate use of medicines and providing disease management programs. Through these complementary capabilities, Merck works to improve the quality of life and contain overall health-care costs.

           This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Additional detailed information concerning a number of factors that could cause actual results to differ materially is readily available in Item 1 of the Company's Annual Report on Form 10-K for the year ended Dec. 31, 1999, in its periodic reports on Form 10-Q and in its reports on Form 8-K (if any). Copies of these forms are available on request to Merck's Office of Stockholder Services.

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