J.P. Morgan Selected by Telmex Internacional, S.A.B. de C.V. for ADR Program

New York, June 30, 2008 - JPMorgan today announced that it has been selected by Telmex Internacional, S.A.B. de C.V. (Telmex Internacional) to serve as the depositary bank for the company's new Series "A" share and Series "L" share American Depositary Receipt (ADR) programs.

Telmex Internacional offers a wide array of telecommunications services including voice, data, Internet, Pay TV, video transmission and integrated telecommunications solutions in Argentina, Brazil, Chile, Colombia, Ecuador, Peru and Uruguay. Telmex Internacional is present in the residential, SMEs and corporate markets of these countries and also offers regional telecommunications products for the needs of multinational companies operating in Latin America.

Telmex Internacional was created in December 2007, when Teléfonos de México S.A.B. de C.V. (TELMEX) received approval from its Board of Directors and Shareholders to separate the company into two independent companies. TELMEX offers telecommunications services in Mexico through the nation's most complete local and long distance networks, in addition to connectivity, Internet access, co-location, web hosting and interconnection services to other telecommunications operators.,

JPMorgan, as depositary for TELMEX, arranged for the distribution of the shares, in the form of Telmex Internacional ADRs.

The Telmex Internacional ADR programs were launched on the New York Stock Exchange (Series "L" ADRs: TII; Series "A" ADRs: TII.A) on June 10th, 2008. TELMEX has been a JPMorgan ADR client since 1991 when the government privatized the Mexican telecommunications sector.

William Kirst, head of JPMorgan's Latin America Depositary Receipts (DR) business, said:
"JPMorgan is proud to serve as the depositary bank for the Telmex Internacional ADR programs, as well as for the Telmex ADR programs. Thanks to clients like Telmex and Telmex Internacional, JPMorgan is the leading provider of DR services in Latin America with 49% of the marketplace and administers more Latin American DRs than any other bank."

JPMorgan also serves as depositary for four of the five largest DR programs in Latin America. In 2007, JPMorgan launched a global depositary shares (GDS) program for Grupo Clarín, the first Argentine company to have a DR listing on the London Stock Exchange, and a global depositary share program for Almacenes Exito S.A., the first primary offering of equity securities by a Colombian company outside of its home market in over 10 years.

JPMorgan created the first-ever DR in 1927 (Selfridges). Today the overall DR market comprises more than 1,800 companies from over 75 countries which sponsor over 2,200 DR programs in the form of American Depositary Receipts (ADRs) that list on U.S. exchanges or Global Depositary Receipts (GDRs) which typically list in London or Luxembourg.

JPMorgan provides a full complement of ADR and GDR services to issuers seeking to have their equity traded on exchanges beyond their home markets. JPMorgan also offers a range of value-added Investor Relations and Advisory services to issuers, with the singular goal of facilitating the DR's highest potential liquidity, ownership and visibility.

For market information on DRs and Internacional equities go to JPMorgan's award-winning web site www.adr.com. For more information on JPMorgan's DR services go to http://www.jpmorgan.com/visit/adr

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 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 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 http://www.jpmorganchase.com