12 JPMorgan Chase Bank 2003 345 Park Avenue. New York, NY 10154-1002 Account Number:O 30171.00.5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio December 01, 2003 - December 31, 2003 JPMorgan Private Bank Page 13 of 44 Foreign Exchange Contracts continued Seniemenl Trade are Om Cunene Amount Counter Cunene Counter Amount Contract Rate Current14MM Forward Rate Markel Value Receivable. USD Market Value bin USO Unrealized StaitVLOSS USO Dec. 11 03 Mar. 15 04 EUR 10,000,000.00 USD - 12,125,000.00 1.2125 0.794439 12,587,499.44 12,125,000.00 462,499.44 Dec. 31 03 Mar. 15 04 EUR - 10,000,000.00 USD 12,583.000.00 1.2583 0.794439 12,583.000.00 12,587,499.44 - 4,499.44 Total Closed 0.00 795,500.00 37,774,652.85 36,979,152.85 795,500.00 POUND STERLING - U S DOLLAR Nov. 18 03 Jan. 20 04 GBP 5,000,000.00 USD - 8,475,000.00 1.695 1.787373 8,936,866.23 8,475,000.00 461,866.23 NORWEGIAN KRONE - U S DOLLAR Dec. 11 03 Mar. 15 04 NOK 67,525,000.00 USD - 10,000,000.00 6.7525 6.669198 10,124,904.85 10,000,000 00 124,904.85 N ZEALAND DOLLAR - U S DOLLAR Dec. 18 03 Jan. 504 NZD - 5,000,000.00 USD 3,245,000.00 0.649 0.65612 3,245,000.00 3,280,604.77 - 35,604.77 Dec. 30 03 Jan. 504 NZD 5,000,000.00 USD - 3,266,500.00 0.6533 1.53069 3,266,500.00 3,266,500.00 0.00 Nov. 18 03 Jan. 20 04 NZD 10,000,000.00 USD - 6,336,000.00 0.6336 0.654881 6,548,813.49 6,336,000.00 212,813.49 Nov. 19 03 Jan. 20 04 NZD 15,000,000.00 USD - 9,460,500.00 0.6307 0.654881 9,823,220.23 9,460,500.00 362,720.23 Nov. 24 03 Jan. 20 04 NZD • 10,000,000.00 USD 6,336,000.00 0.6336 0.654881 6,336,000.00 6,548,813.49 - 212,813.49 Dec. 26 03 Jan. 20 04 NZD • 10,000,000.00 USD 6,460,000.00 0.646 0.654881 6,460,000.00 6,548,813.49 - 88,813.49 Dec. 29 03 Jan. 20 04 NZD • 5,000,000.00 USD 3,242,000.00 0.6484 0.654881 3,242,000.00 3,274,406.74 - 32,406.74 Dec. 29 03 Jan. 20 04 NZD • 5,000,000.00 USD 3,242,000.00 0.6484 0.654881 3,242,000.00 3,274,406.74 - 32,406.74 Dec, 30 03 Jan. 20 04 NZD 5.000,000,00 USD - 3,261,500 00 0.6523 0.654881 3,274.406 74 3,261.500 00 12.906 74 Total Closed 0.00 200,500.00 45,437,940.46 45,251,545.23 186,395.23 S AFRICAN RAND - U S DOLLAR Dec, 16 03 Dec. 16 03 ZAR 32,195,000.00 USD - 5,000,000.00 6.439 6.488839 4,961,596.14 5.000,000.00 - 38,403.86 Dec. 18 03 Jan. 20 04 ZAR 33,190,000.00 USD • 5,000,000.00 6.638 6.973081 4,759,732.42 5,000,000.00 - 240,267.58 Total Open 65,385,000.00 - 10,000,000.00 9,721,328.56 10,000,000.00 - 278,671.44 Total Foreign Exchange Contracts 148,773,590.19 147,158,370.39 1,615,219.80 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00031414 SDNY_GM_00300612 EFTA01506426