J.P.Morgan FINANCIAL TRUST COMPANY INC ACCT. O30171005 For the Period 7/1/09 to 7/31/09 The JPAlorgen Funds a The JPATOrgen Institutional Fund* Or The AmenCen Cerinby Fonds Shwas or the tyros am not hank "as.f s and aeon« gar entooley any Conk govanmententey a 974 F Return~ shemproe bete tluctuab s an./ redemptan »Wye may be mas a lees than are' cos! Wnao Me money merkat hinds seek to manen a statue not asset valbedSt 00 pee share there's no assuranceput they hof conbnue b do so The eshmeted annwebncome end dodend ~lowest°, mutual funds represent Um funds' most tecennnoornedodendennucted The d.stnbuey of the !PI/organ Funds ns JPMagan Diseibuton Smites. Inc which is an artier', ar JP.Mongen Chas. Bank NA JPMagan Chase Bank NA and es «Males reseweconvenseton from JPIArtgon funds kr poncho; servoes Maren Century troesbstereSeroceoinc 4 the dasbuta of the AmencanCenlay Funds American Gent« y InvsYneratrenagerreof Inc serves es rtvesMteM «Noce b its respectveftbel temlyancltecavescompensetton kom drat fund Itenty Ice pmvelmo ovestment advecryand other serval ImpretentInformitionReg«dogAuchon Role Secvntes MRS) ANSae debt a precenedsecurtes.Mn an 'Merest« dtvettencl rite reset petted caOtnn en action ~oven there may bed**. weeM y end monthly resets, there's no guarantee That Mere viAl Ce noutley II Mere men« enough bds Mansur:Jon to red.:erne,* scouremsameabletcr sale the resue may bee teem' aucLon Ina faded aucton Mac .s a disatimothe4 a .s4ccodaymetkohnOdeveAspatlud the severely ••W badeat pea any <Who a K. e,etVeded on stakvants Acoadogly investors sØ not relyon wrong intnetonapµmvpin !her statements welt respectb ARS You mint papby advise "IS/ or matcoelchenges infour investment objectyes a linencelotuaton Unless sou 'Moan JPMSI otherwise JPM,S1wM consider Me Sams!~ currentty in as riles to be correlateand arc". You shout, have retched seer ~JAY& oanfr ~bons b' each seam:a:tensor!~ AN transectons ate subpart to tre tams and ccocAtmns stated on Me 'erase:deof sLch ccolonstronsard we subject to Morons:4~ by-laws. customs and 'Ma pretetonsof the morAelphscewhere executed": governed by and Øsbuedin eccucclanoe wen the tows lithe Slate of New York": eaeppkabefederallows Ondregvb:443 Ftetherotormaton with respect to corm-ssoone and other charges rektted to the execufton of barsafian «Wing °Mons eansectons has been omAxled rn coot, menom that werobecritoostyfomotted b sc./ Upon ~ten request 'PM& wet øØy sumo's' you with the Meal such inlarnetch Sherehoklers« certain .IPMagen Funds ere chewed a redemption beet, ve /to 2% Of fs probed. e they ~nerve« redeemscrems d sec, tends mete, CO days« pvmhase sit/vestto c«teoeicertoro se< forth in the peospectos li the eppbOsbeFoof Please commie lots P ~Pao rePresentatocki a tut of the JPMagan funds That impose redemption fees JP Mow &Koreas Inc JPUomen Chase Bank NA a thee ans.t64 (Me -JP Megan Can:moms, may provide edrnmstretne Cultodel sales, detobudon a shwerrobersenmeo to JPMagan Funds, Ams roan Century Funds a funds estaoåshed SpOnfaed edased ~nog«, by ~desk's and the J P Morgan bananes maybe canpensekd fa such seras Bank products sad stereos ere offered through JP1Acroan Chase Sank NA end Is affeates Seouotres we "fed by i P Megan Sec unteo Inc Account O30171005 Page 11 of 11 Page 12 of 17 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00034807 SDNY_GM_00304005 EFTA01509331