JPMorgan is First 3rd Party Administrator in Luxembourg to Reach $300 Billion Mark

Luxembourg, May 15, 2007 – JPMorgan Bank Luxembourg S.A. today announced it is the first 3rd party Luxembourg fund administrator to have $300 billion of assets under administration and is the largest custodian and fund administrator in Luxembourg, according to the latest figures from Fitzrovia, the independent data firm. As at the end of first quarter 2007, JPMorgan’s Luxembourg assets under administration were $319 billion and assets under custody were $431 billion.

Susan Ebenston, head of International Fund Services products at JPMorgan Worldwide Securities Services, said, “Our Luxembourg business experienced another year of strong growth driven by UCITS III and an increase in global demand. Our commitment to the market and successful partnerships with many of the world’s leading fund managers has enabled us to be the first service provider to have more than $300 billion of assets under administration and the first to have more than $400 billion of assets under custody.”

JPMorgan has been in Luxembourg for 34 years, and has grown significantly following the implementation of UCITS (Undertakings for the Collective Investment of Transferable Securities). The business employs 500 staff, with representatives of 25 different nationalities.

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 & Co.
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.