JPMorgan Securities Lending Business Executive Speaks at Sibos

Boston and New York, October 3, 2007 – JPMorgan’s global head of Securities Lending and Execution Products, Sandie O’Connor, spoke today about the growth of electronic trading portals for foreign exchange at the Sibos 2007 conference in Boston.

During the panel discussion, “e-FX: the lion's share of FX trading?”, O’Connor noted the transformation of the FX market. With the proliferation of electronic trading portals, the execution process of FX transactions is becoming more automated and efficient.

FX trades reached record volumes this year, according to industry figures. CLS Bank International reports that it settled more than 800,000 payment instructions with a gross value of US$4.9 trillion in one day in August, the first time it has reached such levels.

JPMorgan has invested heavily in new systems and processes to support the increased activity in FX trading, O’Connor said, adding, “As clients increasingly look to FX as a source of alpha, we’ve provided deeper and faster access to liquidity.”

“Our clients expect us to continuously deliver new, innovative and market-leading products, services and technology to help them maximize the performance of their funds.” “Our objective is to enable clients to manage their risk profile more dynamically and efficiently and to provide transparency."

For more information on Sandie O’Connor and JPMorgan’s Securities Lending and Execution Products, which is part of JPMorgan Worldwide Securities Services, go to http://www.jpmorgan.com/visit/slep

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.