J.PMorgan FINANCIAL TRUST COMPANY INC ACCT. For the Period I UIMS to I 1/30/08 The JP•donpn Funds or The JPStorpen Institutional Funds or TT* Amen'can Century Funds Shares cl the funds are not bank depossts an! are not guaranteed by any bank ocennrront minty or he FCC Return and share pesos wax nictests and redemption value may be mama less than ottonslcost 14~ the money market funds seek la ms+n&stn a slabb net Inset Weed St W per share Mete is no assurance:het they en confine* to do ao The tonnoted ennuatxxcns and denied PPhouses la ~OP funds nspresenithe tends' most tecenbncome done d ennttetled The dattnfor of the JPMorosn Funds a JPIdcrom Dolnbubon Servos Inc. witch as en 0Mbet 'Pitman Chase Belk NA JPIforosn Chase Bank NA and as &Onto, redeem compensetton tom JPOActgan Funds Ice passing senses Amensan Century Inetattrer4Seroces Inc ts the dotnbtaor a' Ins Amway, Century Funds ~an Century Imostmen IttAanspemonl Inc 1.1.2 as ern...Mors hischnscr so tki rompottntund tamuyard rece4esorponation from then fund lernyb pvvhing.nrestman1 advgsoryoncl Mot survima Important Info er•Son RegarchngAuction Rate Searches (ARS) ARC ate debt or ~rod secure« min an interest cr din!~ rate roost percdcaaym an section AirAzogn Mans may be day week and monthly resets them a no gunntoethet ~reed Ms »paddy II thee arena! aØØ at an "'shoo So redeemthe socuntes ~Nub sale the man any bee ladedauden Ina laded actor, more a no asstrance Prat a secondary rnstket w4 ~Popp that U141 seamy who trade at pp or anyOther pnce redacted on slitlenents Atx•rdripty. net should na royal own, tedormaton apnoeas; in thee statements with respect to ARC Jell& et the CustOcInn is< Wed OpteOntl potliesed thrown JPIAS1 You must protrolly adviseJPISSI of metenalchanton n toot tmestment"ectves Memo' Mutton UnkassouidamJPMSlatlanvse.ØMSIwrØdnYonhnebonanrcnymdsMetobe compiste and ~ate You shoutl hayerecenedsepataleJAIS1 confirm:dons la each section's Vansecnon fransacbons we subsect to Me limns and condtons stoke! on the rpm., sstte of such scrnensboss and am sotyect to Me con:Myron. losisas customs and mtenentstons of the ritatketp&SCeintere exectded and pentmed ty end Combs& n eCC0rde0O9 ask be en tithe Staled New York and etloppuceths/wItrultstss and modtdons Further maornahon mth respect to commostons and omit Marge: , e4saed to the etecveon d transactst stchtdst9 othows transechunst has boon tnctudol confrmosons tnar wore pntwousN futrushod to you Upon twnen request JP1ISI eta prorrpsysupptypse loth tho Step such nfcemebon Slonsholientot anon 'FMFunds *recharged. ~emotion feeequalto 2% of the proceeds tansy exchange« redeems:was ol such funds men, PO days ot ~obese setyict to ~an excepttotis set knit in the prospectus a me appScate•Fund IOntssoonsed your J.P. Skew reprosentobulcr a let & the ~Fends that meow red.:molten fees JPYSI a • member of Use Semites InvestorFtolecton Ca pondon CCIPC "), a not-kg-pm« nternisasalt orporatton tend«, by lectkedl•Prds tegestsnelodh me Senates and ExchansoComnaspon Secures and cash held forensic«, at JAYS? re protected by WC up to Ø.0W pis customs. snob to:Judea up 10 3100.000 of protecbon lot cash &Peden. not protest panel kisses ken fludvatnItS in the value& me sweeten Assets held in custody by JP1forpan ChunBank NA (The 13snIt) ere not subled to SIPC. You mayON0s stIcsmation *bout SIPC. ocidImg Itt• SIPC (Yochum as Peewebs* at •rnsw *pc arc , by ~WAN, Man ei(204 3714300 JP Øen Senate* Inc. JPalOreen Chase Bank NA a On PI gektS(Vss Mann Compathertnsly prov»adminnittINSCuStal *elm daMWtenor shmenoldet ~nest° JP1krosn Funds Amencen Century Funds a funds eolsbashed sponsored. «hated. or managed by than panes and Me Mayan Cavan« may be ~pea • for such setwoos J P Mogan Awe» Banka Me marketing rums k r the peyote Oaniono donna conckcIed ty J P Mown Chase S Co ~soh its subedenet men an. nonstop inlet:tom Chan Bank NA and JP Mogan Sends« Inc Account Page 11 of 11 Page 12 of 17 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00034491 SDNY_GM_00303689 EFTA01509076