J.P. Morgan's Transition Management Business Announces Expansion, Record Flows

London, November 24, 2008 – J.P. Morgan’s transition management business announced it had expanded the global team, added additional fixed income capabilities and conducted one of the largest ever transitions while experiencing record flows.

Michael Gardner, head of Bear Stearn’s transition management business in the US, moved to London to head J.P. Morgan’s transition management business in Europe, Middle East and Africa. He reports to John Minderides, global head of J.P. Morgan’s transition management business.

In addition to Mr. Gardner, five new executives from Bear Stearns joined the team in New York, and Jody Windmiller joined the London-based EMEA team as a sales and client management executive. Ms Windmiller previously was a senior member of UBS's transition management business.

Earlier this year, J.P. Morgan conducted a transition in excess of $15 billion. Successful transitions, such as this one, have increased the business’s transition flows by two-fold in the first three quarters of 2008.

John Minderides said: “We are delighted to welcome the team from Bear Stearns, who have brought a wealth of experience and fixed income capabilities to our franchise, during a year in which we’ve had record activity.”

About J.P. Morgan Investor Services
J.P. Morgan Investor Services is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), Investor Services leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.4 trillion in assets under custody and $5.4 trillion in assets under administration. For more information, go to www.jpmorgan.com/visit/is.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 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 & Co. 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, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.