07 12003 FINANCIAL TRUST COMPANY INC JPMorgan Private Bank Confidential Page 1 of 64 J.P. Morgan Portfolios July I - July 31, 2003 Table of Contents P*;e Account Summary 2 Asset Account Portfolio JPMCB 3 Margin Account Portfolio JPMSI 62 OCIXXX)0000 00 0000 OW 000000000 03000) PB STATEMENTS QUALITY ASSURANCE TEAM 3/OPS3 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00030825 SDNY_GM_00300023 EFTA01505841