02 I2005 Account Number Q 78805-00-1 FINANCIAL TRUST COMPANY, INC. February 01. 2005 - February 28. 2005 JPMorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 fl JPMorgan Private Bank Asset Account Portfolio Page 10 of 14 tMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES I • 3 Prwate Empty Hedge Fonds Exchange Funds. Red Esla and Other Ahmetwe Assets 1 Coed ante comfy uwearrents ani pooled phystearrestmento (eg retreats in Amtted pertnenhas and &MS kaWitycompentea)aregenefalkapwilsecunbes Votes areostmetes any end cre not warranted for accuracy*, ~Meknes.. »Meade ha represent the ocival terms at whet, benoactons a secret:ma could be bought cr sokl a tee trensaarons obeli be chimed into a Me admit lams on hen.ch meting eansachono cook( be tiquela.leclas of the date of thu statement Dyed priveleegtoly investnieoU megFrKVayvahsde test unless tneee is en liebeese0Onderytradog mantel in the seeuntiel in hffiChaite dyed prneteemrey ewes Immts are raked using make( preen as Ofthe eta* 0/ tole lair/ butnells day fa WS Statement 'wood Pooled porateee0ry in~tments ere vaNdeblaCCOrding to In. GereverPolocres a Manager's stated methOdOlOgy In genteel pooled "Me amity town/man:a ate kakedartagt unless a spnliOant sewn/men! he/ Ocan wtroch me/Stna reberuabon el the investment The vekesten mati10000giea rnerany~e an epprne/of MB undeet,onja9Sets at the loop, Ot Cast a a WirtStindOnn amount ea value et when bred party 'prolong nay Ørered eta~ UV pi Kest en &dive SOCOnderynia, fret tkivei0p3. Of ate val.* est,~ed by an ateeendent 044, ~Stet« te led hinted PartnershVt agreement Wrvreb, AaOMYcOnleeny agrementa oller OpeetNedocumentaton a each mreestment fa the Spede ve‘JahOl inSf~y used by the Gonad Penner a tanager la Mar investment Mogan e.bvesstyclist*ms a.nyreSpenstMlyla (lithe eettraCyd Ne maneta, end St* metnoiosøgy used by US Generel/NrtnenY Mangan dirim9ws'ialOIS (2) anYtwors OinssionS .°C0n1olln3 ord.ssiwnnatini2 Me valuations and (3) any use ro whot the vatetpins gaput Valuations arro VOoded kw' ribmiltiOnputp040.10nO, and are intended solog,for gout own use Madge fund; gergyed)rcetulatotts. (Mo Wet Asset Value-or ' NAY). 1045 business deyS ~wing the lest business day of toe month Fee that reaSOn hedge fund NAVs shown nsa gee «sly Do tro NAV of :no ~On ootoodng this statement pace In general tnt NAV' staged net of monegement end month* lees TheNOV*3 ~elated a:cowling to the Gene r olPronnefl a Mannas staut natomlukryy Phmansforlo da lvntel pailneeshke agreement dented Seery oompeny agreementCo Other COS"e dOeumente5On la each hedge fond AP the specific beembon methodology used by Mo GommaiRmtnot or lutapa la that hedge fund ~eon orpramrychsaaens any responabOtylor Mtn* accuracy°, the 'Mama», and the method:A:1;Na~ by the Genera IPartne t a Manager m damn; eitrabons <Zanier°, or "wens n COMpsty a chfafrWMang Pro between; and (3) any use to bench the valtaboos we put Valuations wormanded micrmabon purposes my end are intended sotolyla your own use For ErchangeF ands the ace (the Net As as( Vatue'cr WAV9maudes y eV. s of any nonmarketabasecvntres Morse valved ~MN using a lav vague methoclatgy approval by Pre board of the Manner The Net Asset »Me USO rikets the Me of cede used to finance the nowmanretatesamuntes the nonensOseMbbsecuntes and re swap contracts used to mitigate Me ~st rate n3A between the boating rate on the Meet erode,' and the Mal tare el the norwmaMetsbresecuntren The Funi can drew down on the Me of csede to NI:ern:km-ooze/xi manegementlees et ~Woof in the event rat the doidend income from Me retdolyngsecontes came! pay the erponseoct the fund ribs atare~t does not promde tar rebortmg on peak owestments Freese ~boot M ray won Ne General Obitexbr a Menage 01 the nentMent ,Mice kr the Wetmettoes P.O., some of en*, ere pranclecl by prang sermon a other swots *WM we deem *MM. are not guaranteed fa rommacy a as reebbaltde vales 2 Tre Copra' Cooed Since Msephon USE,' end 'Cesh/SeCut ey dog ritoOens Since Inceptor, USG,' cc:Ammo are updad tummy tO relØ OCInorty (captor co4S and d4brbutralS) 4' any 3 Hodgelonds oonorayallow subsovroos on e monthly a Quelorg boos Y017.1~?rna hedge lend a hedge turd d lunds r. gonpatYas ti the Ws: buSoeSs dayck the subscNotion pen0d Due $0~15,tundogtoptotnotSby the opt‘rarbro fund your account may to debited le, the ~on am:warpp.:0 the $~.C., dere Ploosoroforto the oppocabM hedge runs oporothedocomentotch rathardotors Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00037676 SDNY_GM_00306874 EFTA01511840