JPMorgan Private Bank FINANCIAL TRUST COMPANY INC ACCT. Q30171005 For the Period 9/1/08 to 9/30/08 The a/organ Funds or The JPelorpon Institutional Funds or The A ~can Century FUndS Shares cl Ilse funds one not bank deposits and we not guaranteedby any bank goiteenrrenl they or Me FDIC Return and shore pone me ants* and ratempban vote rmy be note re loss than cetanalcost Web the money market/ends seek to mania'', a stet* net easel velvet,/ */ CO per shore there is no assarBoar that they suS Costs's* to 00 so The estimeKKI annual nacos and dthdend yea:Irv/as Ict mutual funds repre$enIthe funds' most omen' income dhodendennuated The distribulat of the JPMorgan Funds a JPMorgan Distributor, Services. Inc. Meth is en eff tele a/ JPAINden Chase Bonk NA !Pittston Chase Bank NA and as &Weft re the compensation tom !Pat-pen Funds kr proveltne seems Amass° Century InniebnentSavaes. Inc a the OtStobt4Or of It. AmencianCennay Funds Anwan Canary Inr•Strnent Mentgernont Inc saws es wheaMent &MSC.' to as nepetbathend larehteret tonetesccmpeasetton then het( fund temoh, to peeping etwestmen1 advesoryead hew scams Inpnlant Info patron latardeNAucbon Rate Seaways (ARS) ARS wedebt a prat nodsecurest mat an interest cr dreamt rate reset poredcaten an section Alressugn Owe may be daily weeklyand monthly resets there is no gunnteethet Mere wer be today If Mere wend enough bds at an tette" to redeem the securities enettebletcv sate the rata may tea failedWaal Ina haled Sidon These a no assigns that a seteoderrsket w4 desstpor Mat the 'essay waY bade at per or anyother pea 'elected on ableneras Accordney. shales should na rely on prang nbmeson appoa nom then&aPirent9 with respect to ARS JPIASI at the custodian aMedcpiOne and most mute; funds. vtbekno that Pear mai funds Punnetitdetroben /MASI You must acuities, stherse!PUSI of trafenalchansess m sow armament catchesa fonencei stetson unless sou intern !NISI otherwise. !PM& ha wader Me warm:Mon currentlyin 42 tikes to be complete and tante You should hateresewedseparabATMSJconhrmetins kr each securities transoceon NI tonsecbons ore subject to the kerns end condtons stated on the rimer ao ado of such cmArmiebons and are subject to Me constottgos bytes customs and intermit tons of the matkettoewhere executed and governed by and conseued n enttedence with the Imes d th9 SISSY Of New Yak and at app&CSOMMOstellsvos and 'options Further attmatiCh mth respect to ConisnoS.Ons end other target related 10 the eieCuSon d transacItsa mauling options esanSeasana has been onchalsd in corismosons trial sore prossoss& hem nod to you Upon wan !squint isle& eta p vlly supply yen and, the WWIsuch sternesbon SMineholdsmot certain !F%4 Funds *recharged. redetnatto Me tura* 2% of the proceeds d day exchanged nettern SIMON ofsuo' funds eaten 60 days of puthatis SAW: tO mittern exceptionsset lath in the prospectus of Me appacableaund Reetwohnue your !Morgan reivezentoberekr • IS of JPM Funds act impose 'Samson tea JAMS? is • tremble of the Ss:flea InvestorFtelecten Grant» f'SIPC1 • notaristobt inemborsh•ccepeetton handed by erokiralmaps rogistcrecletth the Secunties and ExchangeCominspon Socurriesand cash held for a customer et !ANSI foe protected by SIPC up le 5700.000 per neskinter rich am:Surdas up to 7100 .000 of protecbort kt cash SIPC does not protect against losses tont (tauter:me in the meteor the sec. totes Assets Meld in custody by JP1forgan ChaseLlank NA (Me Sena) atonal sated to SIPC You may04400 etnerIb011 *bout SIM wand the SIPC &schwa on thewwebs* at Name *pc one' a by 0301. 209 ben at(202)371-0300 JP Slinstli Stiosbe. lne. JPSIOnbenCh•SOBONt NA (r Mee Nrshekoffhe 'fittgen COmpentealmeyanatdeedininaSIOne Weedier sees oistrtax)n a shiver *kit arovoteStO JPOikrglen Fonda AmeriCetnCenturyFundS. Or funds eishebealled spCASCred. lithISSO. menteed by thrd palms. and the Wien Companies may be componsabxl besuch sermon JPMorgan Aware Bank is the instating name fa me pivot* banking buSISISS conduced by J P *Spas Chas* &CO WOWS as ssesdtsnes betilheee 06,449 JPMorganChase Beak NA wail PNaga Satan /nc. Account Q30171005 Page 11 of 11 Page 12 of 17 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00034415 SDNY_GM_00303613 EFTA01509014