J.P. Morgan Launches Third Party Clearing for Warsaw Stock Exchange Members

London, August 20, 2008 – J.P. Morgan announced today that its GlobeClear^sm business will now offer third party clearing for Warsaw Stock Exchange (WSE) members who wish to trade Polish securities. J.P. Morgan will be providing clearing and settlement capabilities to clients who want to transact in equities and fixed income products on the WSE. This latest offering marks the 23rd exchange supported directly by J.P. Morgan GlobeClear^sm.

Additionally, J.P. Morgan announced that its first client went live on the WSE with J.P. Morgan GlobeClear^sm on 5 August 2008.

Alex Dockx, GlobeClear^sm product executive, J.P. Morgan, said: "By providing direct access to the WSE, international investors can now directly trade in one of the most promising and vibrant markets in Europe. Central Eastern European markets are rapidly growing, and the WSE is a leading trading centre. Through J.P. Morgan GlobeClear^sm’s single access portal, which provides clearing and settlement of trades in more than 65 markets and 23 exchanges, clients benefit from a wide coverage at low cost."

About J.P. Morgan GlobeClear^sm
Through GlobeClear^sm, J.P. Morgan offers institutions active in international securities trading a market-leading suite of products for global clearance, collateral management and integrated financing. A unique platform enables clearance for 23 exchanges and more than 65 OTC markets - including Federal Reserve and DTCC clearance - through a single access point. With a client-aligned presence in all major financial markets worldwide, clients benefit from the efficiencies delivered by a single set of agreements across all markets and one comprehensive solution that provides access to clearance, settlement, collateral management and integrated financing through a single interface. For more information about GlobeClear^sm, please visit www.jpmorgan.com/globeclear.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.8 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 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 J.P. Morgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.

About the Warsaw Stock Exchange
With 366 listed companies and an equity market capitalization of EUR 230 billions, the Warsaw Stock Exchange (WSE) is one of the best developed and dynamic markets in Central Europe in terms of capitalization, trading volume, number and type of traded instruments, as well as organizational and technological solutions used.