JPMorgan’s Trustee and Fiduciary Business Tops $1 Trillion in Assets Under Trusteeship

London, July 17, 2007 - JPMorgan Worldwide Securities Services today announced that its Trustee & Fiduciary (T&F) business has more than $1 trillion in assets under trusteeship, making it an industry leader.

The business, which earlier this year celebrated its 20th anniversary, acts in a fiduciary capacity for European collective investment schemes and is a top provider of services in Dublin, Frankfurt, Jersey, Luxembourg and the UK. T&F services have recently been expanded to include Belgium, China and Taiwan.

The T&F business has grown over the past ten years. In 1997 JPMorgan provided services to 554 funds with a value of $72 billion; today that has increased to 1,502 funds with a value of more than $1 trillion, making JPMorgan a market leader in Europe.

Tim Gandy, global head of JPMorgan WSS’s Trustee & Fiduciary business, said, “Many factors play into our tremendous growth. Amongst these are the quality and calibre of our staff, our proactive approach, industry thought leadership and our geographic reach.”

T&F works in partnership with clients to ensure that client fund assets are securely kept and properly serviced, that the various schemes are managed in accordance with the local regulations, and that the interests of investors are at all times protected. In the past few years the T&F team has met the challenges of clients taking advantage of regulatory changes and the wider investment types available in moving to alternative investments, and they now oversee hedge funds, real estate funds, private equity funds and derivatives across the full range of funds.

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $14.7 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.