JPMorgan to Provide Custody, Fund Accounting, and Securities Lending for Devon County Council Pension Fund

London, March 5 2008 – JPMorgan today announced it has been mandated by Devon County Council Pension Fund to provide global custody and related services for its £2.2 billion Fund. The mandate comes following a formal review by Devon County Council to consolidate all of its assets with one global custodian.

JPMorgan previously serviced approximately £250 million of the Devon County Council portfolio.

Benjie Fraser, head of UK pensions and charities for JPMorgan Worldwide Securities Services’ Securities Company, said: “JPMorgan welcomes the opportunity to further extend our relationship with Devon County Council now that they have consolidated all of their assets with us. We look forward to working with the pension fund to provide custody, accounting and other value-added services.”

Barry White, Investment Manager of Devon County Council Pension Fund, said: “This appointment comes after an exhaustive review and tender which was conducted with the assistance of Thomas Murray. Our overall perception of JPMorgan was one of pro-activity and a willingness to work with Devon. We were very impressed with the package offered by JPMorgan.”

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.9 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 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 $1.6 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset 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.