03 JPMorgan Chase Bank 2004 345 Park Avenue. New York, NY 10154-1002 Account NumberFINANCIAL TRUST COMPANY INC Asset Account Portfolio March 01, 2004 - March 31, 2004 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Australia Dollar N Zealand Dollar U S Dollar Value In Currency - 10,000,000.00 20,000,000.00 - 6,020,634.58 JPMorgan Private Bank Page 20 of 88 Gain/Loss Summary Total Unrealized Closed Total Unrealized Gain/Loss Value in DSO - 482,634.58 - 482,634.58 Foreign Exchange Contracts Senlement Trace Oat. Date Cunene Amount CountComex‚ Goan« Amount Contact Rate Curren, WM« Pomona Rate Uwe« Value RecervabMs USO Market value Payabl es USO Unseats«, Santos, USO SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Feb. 20 04 Aug. 24 04 AUD 7,500,000.00 USD - 5,676,750.00 0.7569 0.749973 5,624,798.30 5,676,750.00 - 51,951.70 Feb. 20 04 Aug. 24 04 AUD 7,500,000.00 USD - 5,639,250.00 0.7519 0.749973 5,624,798.30 5,639,250.00 - 14,451.70 Mar. 1 04 Aug.24 04 AUD - 15,000,000.00 USD 11,347,500.00 0.7565 0.749973 11,347,500.00 11,249,596.60 97,903.40 Total Closed 0.00 31,500.00 22,597,096.60 22,565,596.60 31,500.00 Mar. 31 04 Apr. 204 AUD 10,000,000.00 USD - 7,670,000.00 0.767 1.30378 7,670,000.00 7,670,000.00 0.00 Mar. 31 04 Apr. 204 AUD - 20,000,000.00 USD 15,250,000.00 0.7625 1.311475 15,250,000.00 15,250,000.00 0.00 Total Open - 10,000,000.00 7,580,000.00 22,920,000.00 22,920,000.00 0.00 Total - 10,000,000.00 7,611,500.00 45,517,096.60 45,485,596.60 31,500.00 EURO CURRENCY - U S DOLLAR Feb. 9 04 May. 11 04 EUR 15,000,000.00 USD - 18,936,000.00 1.2624 0.814624 18,413,406.87 18,936,000.00 - 522,593.13 Feb. 904 May. 11 04 EUR 3,000,000.00 USD - 3,787,200.00 1.2624 0.814624 3,682,681.37 3,787,200.00 - 104,518.63 Feb. 11 04 May. 11 04 EUR - 7,000,000.00 USD 8,939,000.00 1.277 0.814624 8,939,000.00 8,592,923.20 346,076.80 Feb. 12 04 May. 11 04 EUR - 5,000,000.00 USD 6,389,500.00 1.2779 0.814624 6,389,500.00 6,137,802.29 251,697.71 Mar. 104 May. 11 04 EUR - 6,000,000.00 USD 7,448,400.00 1.2414 0.814624 7,448,400.00 7,365,362.74 83,037.26 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00031819 SDNY_GM_00301017 EFTA01506830