EFTA01511635.pdf

11 2003 JPMorgan Chase Bank 345 Park As enue, New York, NY I0I54-10o2 O JPMorgan Private Bank Account Number Asset Account Portfolio "ay. ".; c 1.1 FINANCIAL TRUST COMPANY, INC. November 01. 2003 - November 30, 2003 IMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES 1 • 3 Rirate Equity Hedge Funds Eichenge Funds Rear Estate and Other Mane!~ Assets I Diet? onve,Bepinty linnedenes and poDM "etainvestments (et mlorests rn Amited patinashe' and kehlediat“ity Canpanet)ere generaityAhquel secures Yates we estimated "end me not weranted tor aCCurtCyOr COMple~3 Vatµad0 rlotrepfennt Me at Wet tettro et whai tan9ectAnsa aehande.SCOuld be Dadglit or soda new transactions COO/ be anterectinto a the attueltern19 al ',Dal B.atn2DansaCI,C43COM DB apudekOas Ot tnedaSe Of Erns stateen9nt OreCt privilege era IA>. inVeSbliern5 Siegenpriaty veHod el Cast urass thaw .s en actnesecondarytradvig market in Me securities in whirl, Cain direct prnakeauty muestmmts an valued ubng nwliet prees as Of Me Mo. Of NB lint buttyletts day Kt Me Staleffent period Pooled porateeqcmy ~Men,. ere vaAted awning lb the GenevalPartneacv Manage, ' Mated methOdokey In ventral pool.d pinata equity uivestrrents vakedat Ca9t un»39 a spnitant dynes!~ Brent Odeon when mendatne ~Mono( the nweaMant The ‘atuabon rrem000lo9es PannaYnciode an ailwastolol trio unctetrNitissatS at the 10~ ot cod a a wrgkedown amount at a value at which lard party financing has occumod at to met el prra if en actwo secondary market &yokes. n at e yaw CatuSated by an indoperelont pkty Finn refer to the Jolted petnemhys egteemont. Myriad '1~1ycompany agreementa other Op fat&MOCurnentalan b each firestrnont b me spoc6c vallon mathodokgy used by the General Pa, twor a Manager la that "oarnon: Mown eipussilj,d.sclansi onyrospcnsteylo, (1)tno occuocyoftno ellormalice end me, methodologyused by Me GonerelPattnern Managav, Schiele valualenl. (2)•nyorrasor an:twins COmpilvg disSanxnatog the vakultons ar4 O)any use to wnicn the vatokinswo pot Viatuatrons orsprowled k. mknyabon purposes Ony and two 4~4E/ sots., for your Own uso Hedge hunde gernatiyaikuatethe noes (the Wee Asset Value-or • NAY' 10-15 Cosiness days klbwarg the last business day or the month For that rea:co hedge fund NAYs shown wd genra\ybe the NAV of the month remedy Mrs stateren! peal Ingemal 11,e NAY o Meted net of ma tand ,ncenthe fees The NAY u oakubled accordng b the Gonna]Partners a Manage, : stakd rrethodokory Pk:octet« to Me Mated pertneeshipagrao~: tinted Aabalycompany ageosinentet other ceevabve documents...on for each hedge fund la the specific kalvabon methodology used by the GenealPettntwor Managere that hedge fund ~WI expreaslydackms any tosponsebay fee MM. ecaeacyof the inkrmaton and the methodologyused by the Gana&Partnace Manager in downs vakabons anyerrors or ornosau wi compare cc Mssenvnang the vakatons and (3)any use to witch the valuabonseve put IfekraMsns we;wooded for mtormatton purposes only and are ugended 'playlet your own use (me Wet Asset VaIve-or WAV,includes Me vatla any nOnaketaDieseCuntin mat be valµd n'a~ vs", a tav ve!oernelhoddogy emoted Dy ttte board of the Manager The Ntel Asset Veit;eUSD' kneels the Me ot creH used to For ExchangeFunds the puce non-norkteee»secuobee end Me Snap coneects used lo innate toe /merest mite rot( between the floating rate on the Weal Cre:M and the fixed tale of time non-nwliefebteseaystres Te Fad Can drew donn CY, the Me ot finance Me nOn-ne944eNesectiAl»,. the ere« b Pay eiPera&sand menagement fees at startup a .0 Me event that Me 0Ndend nocme from Me unde~gSecuntiesoannot pay the expenses or toe Fund This statement don 4010, ~de to.( reporting m ono* irotoboente Please COnbnue 10 'SY upon Pe General Ratner a Manager of the P~frIleIli wen«, /a tw.f nonso, Prices some of whch ere provided by prong serapes a os sources when no doom rebtue t« guwacteed la accuracy a as reabzobk valves 2 Tre taptal Cared Since tncOplan USD' and toah/Socomy&satut:ons Since snapton USW «Ann,: are updaiOd nonry so radon °Caw:). (captai cats and daatubonS) lacy 3 Hedge funds generaayeasw subscriptons a, a nr,nlhly or quarkelybos4 You nkarestare hedge fund a hedge fund of funds es generalyes of the fist business claya/the subsoetion period Due b early funding tog urements by the app&cabie fund sour account may te deb4cd kJ' the subwebon amount once to Me svbscopton dale peesetefer to the apPicabk hedge huds OPefa,nedGC°IrentabOri for ftfilh.Wde," Confidential Treatment Requested by JPMorgan JPM-SDNY-00037465 Chase CONFIDENTIAL SDNY_GM_00306663 EFTA01511635