07 12004 JPMorgan Chase Bank 345 Park Avenue, New York, NY 10154-1002 Account Number: Asset Account Portfolio FINANCIAL TRUST COMPANY INC July 01, 2004 - July 31, 2004 Asset Account Portfolio Jul\ I -July 31, 2004 JPMorgan Private Bank Page 3 of 65 Table of Contents Page Portfolio Summary 4 Cash and Short Term 6 Equities 7 Equity Research Ratings Other 9 Options 11 Outstanding Foreign Exchange Contracts 15 Trade Activity 19 Account Transactions 27 Account Officers D'ORAZIO/HORNAK Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00032354 SONY GM_00301552 EFTA01507328