JPMorgan Becomes Depositary for Intesa Sanpaolo ADR Program

The merged Italian bank is the latest Italian. blue-chip company to appoint JPMorgan as depositary bank

London, January 23 2007– JPMorgan today announced that it has been appointed as depositary bank for the Intesa Sanpaolo American Depositary Receipt ("ADR") program, which replaced the previous Sanpaolo ADR program following the merger with Banca Intesa on January 1. The ADRs are traded on the OTC market in the US.

JPMorgan maintains an extensive European client base, managing more than 70 blue-chip ADR programs in the region, including significant Italian ADR programs.

James Keane, head of ADRs in EMEA, JPMorgan Worldwide Securities Services, said, "Having managed Sanpaolo's ADR facility for over eight years, we are delighted to be working with the merged entity, Intesa Sanpaolo, establishing a Level I ADR program to help facilitate the share exchange."

More information on ADRs and international equities is available at JPMorgan’s ADR web site adr.com.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.