JPMorgan Nets Top-Rating In First-Ever Private Equity Administration Survey

New York, (October 15, 2007) – JPMorgan won top honors in a first-ever survey of private equity administration services that also lauded the firm for its people, processes and technology.

JPMorgan Private Equity Fund Services (PEFS) was top-rated overall for firms that provide administrative services to private equity firms. JPMorgan also secured the highest rankings from clients in North America and from clients of varying sizes from less than $100 million in committed capital to more than $10 billion, according to Global Custodian magazine, which conducted the survey.

Private equity firms were surveyed on quality of the services provided to them by third party administrators in several areas such as fund establishment and structuring, accounting and reporting to limited partners/investors and to general partners, regulatory reporting and compliance and technology.

“This is an exceptional performance by JPMorgan,” the magazine said. “The bank secured the largest number of responses, but the scores are even more impressive. The business has taken off dramatically among third party clients.”

“We are gratified to be top-rated in this first-ever survey of private equity administrators,” said Robert Caporale, CEO of JPMorgan Private Equity Fund Services. “This survey underscores what we hear directly from our clients – that we are a strong partner in helping them grow their business.”

“JPMorgan Private Equity Fund Services stands out as a natural leader in the industry because it was born from a top-tier private equity firm,” added James Hutter, business executive and COO of PEFS. “Being part of the JPMorgan global franchise gives us the experience, resources and scale to meet all of our clients needs.”

JPMorgan Private Equity Fund Services provides fund administration services to private equity firms and institutional limited partners. Launched in 2005, JPMorgan PEFS currently provides services to more than 200 funds representing over $45 billion in committed capital. PEFS also serves the world's largest institutional investors with over $100 billion in aggregate committed capital across several thousand investments.

Technology helped JPMorgan grab the top rating with those surveyed saying it had a “robust, proven technology platform.” Those surveyed also lauded JPMorgan for having staff that had a deep knowledge of private equity, were highly experienced and always available. In addition to the top rank overall, JPMorgan secured the highest ranking for clients with assets of $100 million-$1 billion, $1-5 billion, and more than $5 billion. Full details of the survey are available at globalcustodian.com.

JPMorgan Private Equity Fund Services provides middle and back office outsourcing of fund administration services such as fund and partnership accounting, tax support and comprehensive reporting services to private equity firms and limited partners. JPMorgan also provides a wide range of complementary services to the private equity community including transaction advisory, cash management, credit products, escrow, custody, foreign exchange and derivatives.

JPMorgan PEFS group has more than 130 professionals with decades of experience in private equity accounting and operations. The team is highly skilled in providing services to private equity funds and institutional limited partners globally, since it has operations in New York, Chicago, Dallas, San Francisco, London and Sydney. In addition, JPMorgan uses an established and effective technology solution in a secure, confidential environment centered on strong controls.

For more information on JPMorgan Private Equity Fund Services go to www.jpmorgan.com/visit/PEFS. JPMorgan PEFS is part of JPMorgan Worldwide Securities Services.

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $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 optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services. For more information, 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.