J.P. Morgan Broadens Global Transfer Agency Relationship with Blackrock

Hong Kong , June 13, 2011 – J.P. Morgan and BlackRock are pleased to announce the launch of a Same Day Settlement platform in Asia Pacific.

The Asian Same Day Settlement service, which is provided by J.P. Morgan’s transfer agency business, will provide BlackRock’s institutional clients based in Asia with the opportunity to process trades during Asian business hours and to receive the same day use of the funds. The service will initially be available for BlackRock’s two key USD cash funds, the ICS Institutional US Dollar Liquidity Fund and the ICS Institutional US Treasury Fund.

Mark Stockley, Head of International Cash at BlackRock, said: “The Asian Same Day Settlement service is intended to provide our institutional clients with greater flexibility. It represents a significant improvement over the previous settlement times, and will allow our clients to fully realize the benefits of investing in BlackRock’s Liquidity Funds.”

Euan McLeod, Senior Product Manager, Transfer Agency, Asia Pacific, J.P. Morgan Worldwide Securities Services, added: “We’re pleased to have launched our Asian Same Day Settlement service in conjunction with BlackRock. This is a landmark platform that will provide BlackRock’s clients with a real competitive advantage in the market.”

Some key features of the Asian Same Day Settlement service include:

• Trades placed before the 14:00 Hong Kong (“HK”) cut off time receive the benefit of earlier settlement;
• Using two pricing runs a day, J.P. Morgan Hong Kong will release payments to a client’s correspondent bank via SWIFT during the Hong Kong working day;
• J.P. Morgan Hong Kong will send a SWIFT MT 103 pre-advice message to the bank of the underlying investor, notifying them of the incoming payment;
• J.P. Morgan Hong Kong will release payments to the bank of the underlying investor on a best effort basis to ensure receipt of funds on the same day (ie. T 0 settlement).

The launch of the Asian Same Day Settlement service follows the recent announcement that BlackRock has partnered with J.P. Morgan to outsource the investment management firm’s fund fax dealing desk, a move which has provided BlackRock’s clients with greater processing efficiencies and faster execution of trades. The deal saw J.P. Morgan’s transfer agency team grow to approximately 20 dedicated specialists handling up to 3,000 manual trades per day.

J.P. Morgan Treasury & Securities Services (“TSS”), which comprises the Worldwide Securities Services and Treasury Services businesses, provides solutions to institutional and corporate clients across the region. In line with the firm’s aggressive regional growth plans, J.P. Morgan last year hired an additional 600 financial professionals across the Asia Pacific region, expanding its local on-ground presence, enhancing its range of market leading products and elevating its client servicing capabilities.

About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2011, BlackRock’s AUM was US$3.65 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of March 31, 2011, the firm has approximately 8,500 employees in 24 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com .

About BlackRock Cash Management Group
BlackRock is an expert in liquidity management looking after $279 billion short term assets for clients globally, as at March 31, 2011. We are not large because we always offer the highest yield; we have grown because we have earned our clients’ trust through multiple interest rate cycles and a wide variety of market events. We understand the importance of putting safety and liquidity first – not as a marketing message, but as the core of our investment philosophy. BlackRock considers cash management a unique investment discipline requiring a distinct skill set for effective management. While our investment strategy is conservative by nature, we strive to deliver competitive, consistent returns over time. In Europe we offer a broad range of liquidity funds across currencies and strategies, including sovereign funds, prime money market funds, as well as the flexibility of bespoke, segregated mandates for large investors. We also offer ultra short bond funds for those investors who are looking to move modestly out the curve.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, WSS leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world. It has $16.6 trillion in assets under custody and $7.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.  

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 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 and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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