11 2003 Account Number FINANCIAL TRUST COMPANY INC November 01. 2003 - November 30, 2003 JPMorgan Chase Bank .345 Park Menus-, New York, NY I III54-loo2 1 ''JPMorgan Private Bank Asset Account Portfolio Page cl In:porton( lnformat4on 'haul PICINI and WIUIlionS Poses some of who, are proveded by preing serinCes a other sources shch ne deenneketUe we not oustarfeed Ibi eccuracy or as reeAzable valves Yetis:on, of ove+1.rtecountee denvatve Panzachons =Wm° eaten derwatNes.etaled *post products have been prepared on a and -market ass,' These raluebons ete mchOeterc voles as of the close o twsness of the date0(0ns statement and eiCepl as alierwae agreed .n ...wiry. these raluatOns do rot represent the actual Wins at whrn transattOnS or 'Bevil*. could be bought Or sold 0. Mr Sansac4073 tout, be enteeed wilO d the actual teems On nrtCh eostav fransaCbOns Or seCottes °Out; be Agudaled as of the dated ton statement We do not aafrant thee Oarpkne.nns b artaaey ThesSe veliatiOns Ye devrved leOm petateary nvda based upon well( retOgneed Martial pnnoples and ne Pave. when neounsary to calculate the present va4ue Of future cash lbws made reasonable eibmales aDOut rekovant future fr000( CO01014 Valuations based On other M*4 0' Off trent ass wrptoos may reid thflefen1 fesuis Morgan e.pressty thiChlrns any re,IpOn9iNey (Or (1) the aCCuraCyOl the medals O. estonates used in den 'WV the vadatiOn9 (2) any arras p ansa+063 n COnvoting b dosemoatmg the vekahOns and (3) any uses 10 hat the yakiabOns am put Vahliabons Ye prOeded ep tniormebOn poi pas Only aid ale Wended sowyke your On use Reese *Or to trie trade COnnleMkin tOr dowse/Baal PanSaCtOn Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00031354 SDNY_GM_00300552 EFTA01506366