J.P. Morgan Announces Establishment of Nordic Branches and Inception of Client Migration Program

Move extends J.P. Morgan’s local presence in the Nordic region

Oslo, 18 November 2008 – J.P. Morgan’s Investor Services business today announced that two leading Norwegian institutional investors have transitioned their global custody business to J.P. Morgan, representing an important milestone in the ongoing process of client transfers following J.P. Morgan’s acquisition of Nordea’s institutional global custody business earlier this year. The investors had been global custody clients of Nordea.

Gjensidige Forsikring, one of Norway’s largest non-life insurance companies, and Folketrygdfondet, an asset manager for the Government Pension Fund – Norway, are now global custody clients of J.P. Morgan Investor Services. Both clients are in discussions to extend the related services they use from J.P. Morgan.

J.P. Morgan in March announced it acquired the institutional global custody business of Nordea, the leading provider in the Nordic region. As a result of the acquisition, J.P. Morgan Europe Limited established four new branches in the region, located in Oslo, Stockholm, Helsinki and Copenhagen.

Peder Sunde, manager of J.P. Morgan's newly-established branch in Oslo, said: “We are delighted to work for these two leading Nordic institutional investors and look forward to extending our relationship with them. These clients will be serviced out of our Norwegian office, which is a key cornerstone of our strategy to align ourselves closely in-region with clients.”

For more information about J.P. Morgan Investor Services, go to www.jpmorgan.com/visit/is.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 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 & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.