EXHIBIT 99.1

                               DISTRIBUTION REPORT
                                       FOR
                            PPLUS TRUST SERIES GSC-2

                                DISTRIBUTION DATE
                                NOVEMBER 15, 2005

                             CUSIP NUMBER 73941X684

         (i)      the amounts received by the Trustee as of the last such
                  statement in respect of principal, interest and premium on the
                  6.345% Capital Securities due 2034 issued by Goldman Sachs
                  Capital I (the "Underlying Securities"):

                              Interest:                              $0.00
                              Principal:                              0.00
                              Premium:                                0.00

         (ii)     the amounts received by the Trustee as of the last such
                  statement in respect of Interest Rate Swap entered into
                  between PPLUS Trust Series GSC-2 and Merrill Lynch Capital
                  Services, Inc. (the "Swap Agreement"):

                              Interest:                        $406,000.00
                              Principal:                              0.00

         (iii)    the amounts of compensation received by the Trustee, for the
                  period relating to such Distribution Date:

                              Paid by the Trust:                     $0.00
                              Paid by the Depositor:             $1,000.00

         (iv)     the amount of distribution on such Distribution Date to
                  Holders allocable to principal of and premium, if any, and
                  interest on the Certificates of each such Class and the amount
                  of aggregate unpaid interest accrued as of such Distribution
                  Date:

                              Interest:                        $406,000.00
                              Principal:                             $0.00
                              Unpaid Interest Accrued:               $0.00

         (v)      the amount of distribution on such Distribution Date to
                  Merrill Lynch Capital Services, Inc. in respect of the
                  Interest Rate Swap entered into between PPLUS Trust Series
                  GSC-2 and Merrill Lynch Capital Services, Inc. (the "Swap
                  Agreement:

                              Interest:                              $0.00
                              Principal:                             $0.00



         (vi)     the aggregate stated principal amount and, if applicable,
                  notional amount of the Underlying Securities related to such
                  Series, the current interest rate or rates thereon at the
                  close of business on such Distribution Date, and the current
                  rating assigned to the Certificates.

                              Principal Amount:                $35,000,000
                              Interest Rate:                        6.345%

                              Rating:
                                      Moody's Investor Service            A1
                                      Standard & Poor's Rating Service    A-

         (vii)    the aggregate notional amount of the Swap Agreement related to
                  such Series, the current interest rate or rates thereon at the
                  close of business on such Distribution Date.

                          Notional Amount:                     $35,000,000
                          Interest Rate:                          5.19000%


         (viii)   the aggregate Certificate Principal Balance (or Notional
                  Amount, if applicable) of each Class of such Series at the
                  close of business on such Distribution Date.


                           ($25 Stated Amount)
                           Principal Balance:                  $35,000,000
                           Reduction:                                  (0)
                                                              ------------
                           Principal Balance 11/15/05          $35,000,000