J.P. Morgan Wins Comprehensive Custodial Mandate with One of New Zealand's Largest Organizations

Sydney, June 18, 2008 — JPMorgan announced today it has been selected by Accident Compensation Corporation of New Zealand (ACC) to provide comprehensive custodial and administration services to support ACC’s Australian portfolio, representative of NZ$1 billion in assets. The new deal is evidence of JPMorgan's ever increasing relevance and expansion in the New Zealand market.

Accident Compensation Corporation of New Zealand confirmed that JPMorgan Investor Services was appointed as it offered the most comprehensive solution set available for ACC’s Australian Custody requirements. JPMorgan will provide a number of efficiencies to ACC operations, including real time reporting services via JPMorgan Access, a proprietary online custody and investment administration reporting tool.

Jane Perry, Chief Executive Officer, JPMorgan Worldwide Securities Services Australia & New Zealand said, “We are committed to being the preferred service provider to the Australian and New Zealand marketplace, offering full service investment administration solutions. This deal represents not only an innovative offering to the New Zealand market, but a new relationship with a pioneering New Zealand entity.”

ACC is a Crown Entity set up by the New Zealand Government in order to administer New Zealand’s accident compensation scheme. It is one of New Zealand’s largest organisations, employing around 2,700 staff across 48 locations. ACC processes 1.8 million injury claims each year.

ACC Investment Operations Manager Fenella Gray said, “ACC has very specific business requirements, and we operate in fairly unique circumstances. JPMorgan has demonstrated a commitment to understanding the environment we work in and as a result has provided appropriate and high quality service.”

ACC was assisted in its review of custody service providers by Thomas Murray Ltd’s Melbourne office.

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 please visit www.jpmorgan.com.au

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 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.