EFTA01512217.pdf

JPMorgan 0 Private Bank FINANCIAL TRUST COMPANY, INC. Account Number October 01, 2007 - October 31, 2007 JP Mapen SeamanInc JPIAaganChasegenk NA or thee a/Metestree lArgan Comortneslrrayproveleedmmetraere custedos sake MO Outon a sharehader sersoces to JPMorgan Funds. Ameocan CenturyFunds or eslaeashed sponsored &Need a managedby WO pros end the Mogan Canons,may he corrpansased or such *ova. aplanad0n Of OMAN Ratings: JPMorgan uses the ketrreog rating system Overweight Ora the netts& lo Mote manilla we expect this steal( wsv outperform Me average total return of the stocks in the eneyste (a the analyst's team's) coverage unhorse Neutral: ever me heal Sw loin?), =nets ma roped rhos ogee wrnpalam A one wen the overage loge return of Me stocks as fee anoys ts (a the analyst's leiva)coverege unhorse Undenvelght Oar therm} scx lo Make months we expect this stock war uncial:edam The average totalreran of the stocks .n the weals (a the analyst} learn's)caretage inverse Independent Research Ratings: JPMSI does not endorse a CateiNiSeadcp: the InamendentResearchAcvacr research wake atop Offwentlam use a yanetyca reaps taint as atlas dinerentrangs sabre to deSaieetnee tecornmencisSons .IPMS/ use: a itaramhatvps systems, describe:labor* haPs may use adaftvenfyahoos system such as as ao rabsorufe-wtsgs system and use such tams as 'buy" Meer a 'rev'. Save Aretstverand lsbeauaetaratos systems el iltexfaMendeVeydffeenf )00 shou‘i, eed teendily MO derWOLS or se 'ergs used n the JPMSt and IRPIOStivebbsiSS a inCniefle M the toseerchitsee Fa Ins reason and since the research screams Me ease Mr He rasogs as 0.0 as complete intarnaeon concerting me anahsts yews Idr snadd read carerrAy the researchand no; at as contents hum the reale oboe !PI/organ FtNele Bank is he marketing; name Icy the ornate twang business conducted by J P Morgan Chase & Co thrown es SubSdieteS aotwde mckachng JPMorgan Chase Rank NA., JP Morgan Trust Company NA and J P Morgan Sccathes Inc Page 10 of 14 Confidential Treatment Requested by JPMorgan JPM-SDNY-00038064 Chase CONFIDENTIAL SDNY_GM_00307262 EFTA01512217