J.P. Morgan Nets New Custody Clients in Middle Market Sector

Commercial Bank helps expand relationships with companies of up to $1 billion in assets

New York, July 24, 2007 - JPMorgan has secured contracts with three new custody clients, representing a combined $680 million in assets. The firm’s Commercial Bank helped win the deals, which resulted from a new campaign to expand relationships with mid-sized companies.

JPMorgan Worldwide Securities Services became a leader in the custody industry by serving some of the world’s largest corporations, mutual funds, pension funds and insurance companies. Now, it is looking to significantly increase the number of clients in the Middle Market, which have up to $1 billion in assets. The business unit has created a dedicated team to provide custody services for not-for-profit institutions and mid-sized companies. It has also launched a new campaign with the firm’s Commercial Bank to expand business with existing clients.

"JPMorgan is well positioned to provide all the operating services a mid-sized company or not-for-profit institution needs to efficiently manage and grow their investment portfolios," said Conrad Kozak, head of the Securities Company of JPMorgan Worldwide Securities Services. "We feel that there are many companies and institutions that might want to take advantage of the same services used by larger players in the industry."

JPMorgan offers a wide range of custody and treasury services, including cash management, global custody, performance measurement, transition management and securities lending, as well as accounting-related solutions and investment compliance services.

"This partnership is ideal for our customers and our company," said Todd Maclin, head of JPMorgan Chase’s Commercial Bank. "Mid-sized companies are now being offered the widest range of services ever including banking, investment management and securities services, from one of the largest and most experienced client service networks."

The new JPMorgan Worldwide Securities Services Middle Market team also builds on a long and active partnership with JPMorgan Chase Treasury Services, which offers payment, collection, liquidity and investment management, trade finance, commercial card and information solutions.

The new JPMorgan Middle Market team has already signed three new clients and is reaching out to more than 500 U.S. companies and institutions, including not-for-profits such as hospitals and endowments and foundations, as well as corporate pension and treasury plans, public pension plans, banks, insurance companies and investment managers. The team has representatives in Chicago, Columbus, Ohio, Dallas, New York, New Orleans and San Francisco.

The three new clients are:

• American Bureau of Shipping of Houston ($440 million in assets) – the non-profit corporation, which sets safety standards for the marine industry, will receive trustee, custody, accounting, performance measurement, compliance monitoring services and liquidity products. "One of the reasons we selected JPMorgan was that we could get accounting and performance information via one global reporting tool," said Jeff Weiner, CFO.
• Burke Rehabilitation Hospital of Mamoroneck, N.Y. ($40 million in assets) – the leading rehabilitation hospital will receive custody, accounting, performance measurement, trustee services and liquidity products. "JPMorgan has superior technology and online reporting, so it met our needs perfectly,” said John Stewart, Accounting Manager.
• Cognex Corporation of Natick, MA ($200 million in assets) – the world’s leading supplier of machine vision systems will receive custody, corporate accounting, performance measurement, and liquidity products on its $200 million corporate treasury assets. "We hired JPMorgan because it has a Sarbanes-Oxley compliant accounting package and experienced people," said Sheila DiPalma, Director of Treasury.

For more information of JPMorgan Middle Market services go to http://www.jpmorgan.com/visit/wss/midmkt

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.2 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
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 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 and wealth 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.