JPMorgan Builds Hedge Fund Services Team in Asia

Hong Kong, July 31, 2007 - JPMorgan Hedge Fund Services announced today further expansion of its business in Asia with the appointment of Andrew Mascall-Robson to lead business development and growth across the region and Shirley Yuen as regional product and client service manager.

Mr. Mascall-Robson and Ms. Yuen join JPMorgan from Fortis Prime Fund Solutions and bring not only a great breadth of knowledge but excellent market reputation.

Mr. Mascall-Robson was most recently Managing Director of Fortis Prime Fund Solutions in Japan. Prior to this, he was an Executive Director at WestLB Panmure. He has also held various positions - including General Manager, Equity Derivatives, Japan - at HSBC James Capel, where he worked for over 12 years. Mr. Mascall-Robson has spent 17 years in Asia and has extensive experience in Japan.

Ms. Yuen was most recently Head of Account Management for Fortis Prime Fund Solutions in Asia, where she had overall responsibility for the company's client relationships. She previously worked for KPMG and the HKSAR Government Land Fund Trust as an auditor.

Laurence Bailey, JPMorgan's Worldwide Securities Services CEO in Asia, said: "This is an important step in the expansion of our Hedge Fund Services business and a strong signal of our intention to become a dominant player in the fund administration space in Asia. Andrew and Shirley are highly respected figures with extensive relationships and experience in the market."

JPMorgan Hedge Fund Services delivers extensive solutions for hedge fund and fund of hedge funds clients seeking independent administration and custody services. The team brings together the expertise, proven processes, technology and the global resources needed to manage complex relationships across the hedge fund industry. It offers regional coverage and local support in a wide range of locations around the globe, including Dublin, London, Luxembourg, Bermuda, Boston, Greenwich, CT, and now Hong Kong.

For more information on JPMorgan Hedge Fund Services go to www.jpmorgan.com/visit/hedgefundservices.

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with US$15.2 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimise efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services, please visit www.jpmorgan.com/wss.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. 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.