JPMorgan 0 Private Bank FINANCIAL TRUST COMPANY, INC. ACCT. For the Period 2/1/08 to 2/29/08 JPMS1 is a mentor ot the Secootto Invest. Probschon Corpaahon not -prole members's:Iv cape...Non funded by tecerdeelers regalered turn the Secrete. and ExcharyffeCammestron Seculars and cash hen fa a ankh*, et JENA& e Notecled by SIPC up to MOO WO per ars Mew which Pardes up to S100000 a profer fon la oath SIPC does not protect spend losses as Maniacs/ Yle 'scented Assets hold n ouslody hy JPIAagan Chase Bank. NA (Me "Bane)sre not payed to SIPC You Ina,' &Nan orcemalon about SIPC moloirg the SIPCBroclxre on Mew adore at 1vww. sac op' or 0/contacting Tan at J P Mr pan Securities Inc JPMorgan Chase Sank NA a they afters. (the licrstan Concourse" mayprowdearlronatrabv• ousfodrat sales dal tow or sherehoklerservocesto JAblorgan Funds Arnancan CenhryFunds a funds offarashed, sponsored advised er managed by OW odes and the Morgan Conk:onesmy be compensated la such seroces Explanation of !PM& Ratings: JP%forgen uses the ;albedo', retry system Oretwerpht Ova the nest sa to twelve months wafters, this stock wit outpreliff m the average total return of the stocks m age analyst's (a Me analysts berinrs)offorage annul Neutral: Over the next Sex to Merit morals me expect Mrs stock suns peek. m m Me nah the average SNP return oft?* stocks m Me *raison (or the analysts leans) coverage unrovse Vnderwarght: Char Me nest so to (woke rnork1s. wo•xpect frt4 stock me under.perlorrn the mow. Kral Wren ofthe Rocas en It,. anayst's (cr the analyst's learnblooffehsge omen Independent Research Reams: 'PSIS( does not endorse cr °MonsonadoptMe InderrendentFtesearchRowderesearrli end/or reaps Ddlerent km, urea raneryor taboo terms as %Wife, differentrarogs s lento dekralether recarrnendetons 166AStuSfq SeUlnerahngs system as deserted above IRPs may use adiferantrabros system sash as as an absorufer• farms system and use such tams as 'buy 'bold' a 'sole Soo erelattrearol 'absoluktratings systems refundarreoWyalloranf sou should read cater"' the deft!!!!DeS a NINON. used in The JPM.51 and MP/needy that 4 slatted el the teseaolbtserf Fa led reason and once The research contains the base Jet the rams as eel/ 65 CO/Mk* AnfatneSon COnCerfung The analysts vas. sou should reed °trek* Me recrachand not intents conlents from the rating alone JPMagen PNste Banks ffre norkefing nem. Id the ;mote banking lumen Conducted by J P Morgan Chen 6 Co thrown es seffschenee naldevde. erJudrng JPMorgan Chase Sink NA.IP Mayen Dual CrOmpeny NA end JP. Mercian Seeing*. Inc Account Page 11 of 11 Page 12 of 18 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00038129 SDNY_GM_00307327 EFTA01512282