JPMorgan Launches Taiwan Kolin Co., Ltd. GDR Program

Hong Kong, January 11, 2006 - JPMorgan has announced the Taiwan Kolin Co., Ltd (Taiwan Kolin), Global Depositary Receipt (GDR) program in conjunction with the company's $28.7 million initial public offering.

Taiwan Kolin is a manufacturer of household electrical appliances and equipment including colour televisions, video recorders, refrigerators and air conditioning equipment.

Each Taiwan Kolin GDR ( ISIN:XS0237340525; Common Code:023734052), representing 10 common shares, is traded on the Luxembourg Stock Exchange.

More information on GDRs and ADRs is available at www.adr.com, JPMorgan's source for ADRs and international equities.

JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the Internet at www.jpmorganchase.com.

Neither this announcement nor the information contained herein constitutes an offer or solicitation by JPMorgan for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. An offering is made by means of a prospectus only. Information herein is believed to be reliable, but JPMorgan does not warrant its completeness or accuracy. Services offered through JPMorgan Chase Bank, N.A. and J.P. Morgan Securities Inc., member NYSE/NASD/SIPC.