JPMorgan Worldwide Securities Services Wins £9.5BN Asset Servicing Mandate from Wellcome Trust

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London, March 5, 2007 – JPMorgan Worldwide Securities Services today announced it has been appointed custodian and provider of related services by the Wellcome Trust, the second-largest charitable foundation in the world.

Under the agreement, JPMorgan Worldwide Securities Services will provide custody, accounting, monthly performance measurement, cash products and foreign exchange services, passive currency overlay, and commission recapture for the £13.9 billion* foundation.

Conrad Kozak, Securities Company Executive at JPMorgan Worldwide Securities Services, said, “We are very pleased to be working with such a well-respected and established foundation as the Wellcome Trust. This new mandate is a testament to our ability to handle the sophisticated requirements for a client like the Wellcome Trust both today and in the future, and demonstrates our strong commitment to develop relationships with the charitable trust industry in the UK and Continental Europe.”

Danny Truell, Chief Investment Officer of the Wellcome Trust, said, “As the Wellcome Trust strives to continue to be at the forefront of investment management, we needed a securities services partner that could provide us with top-quality service, a stable service platform and also had the skill set to grow with us. JPMorgan Worldwide Securities Services’ asset servicing offering is substantial enough and has the technology to meet all of our requirements.”

* As at 30 September 2006

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $13.9 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 debt 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 $1.4 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.

About The Wellcome Trust
The Wellcome Trust is the largest charity in the UK and the second largest medical research charity in the world. It funds innovative biomedical research, in the UK and internationally, spending around £500 million each year to support the brightest scientists with the best ideas. The Wellcome Trust supports public debate about biomedical research and its impact on health and wellbeing www.wellcome.ac.uk.