J.P. Morgan Expands Boston Fund Services Operations

Boston and New York, June 3, 2008 - JPMorgan today announced the expansion of its fund services operation in Boston, after signing a lease for office space in the city's waterfront area.

JPMorgan Investor Services said it will lease approximately 100,000 square feet at 451 D Street in South Boston, will retain its offices at 1 Beacon Street and expects to hire more than 300 employees for its global funds services business over the next five years. The business provides accounting and administrative services for institutional investors globally.

"We expect our fund services business to continue to grow, as a result of the new business we have been winning," said Daniel Kramer, who is based in Boston and is global head of operations for JPMorgan's fund services business. "Boston is key to our success and offers a wealth of industry talent. Staying in the city is a win-win for our clients and our employees."

The 451 D Street location is part of the Boston Seaport, a waterfront development area that features the Boston Convention & Visitor Center, the Seaport World Trade Center, the Institute of Contemporary Art and Boston Design Center. The site will replace JPMorgan fund services' current offices at 73 Tremont Street.

JPMorgan Investor Services provides fund accounting, fund administration, custody and other asset services for mutual funds, investment managers, corporate and public pension funds, endowments and foundations, ETFs (exchange traded funds) and central banks.

About JPMorgan Investor Services
JPMorgan Investor Services is a premier asset servicing provider that helps institutional investors and alternative asset managers optimize efficiency, mitigate risk and enhance revenue. Part of JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., Investor Services leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $15.7 trillion in assets under custody and $4.7 trillion in assets under administration. For more information, go to www.jpmorgan.com/visit/is