EFTA01485091.pdf

JPMorgan Private Bank JEFFREY EPSTEIN ACCT. For the Period 6/1/08 to 6/30/08 Important Information about Auction Rate Swung*, (ARS) ARS me debt or pretence mover.: nth an mares! or dryrdenIngerase pencdcaly an an euctson Aelsough Maremay be daily, weeNy and month* feasts them a no guarantee Net there wia be leuelety If there are not enough Gds at an suchen to redeem the secuntos snratre to sale. Ire rebut nary bee Wed auChon In is agetlauCtan. Mere a no Manna that a StiCOnderyintirketwi, derelOp Or that the Sway ea bide at Per Cr &WOW( PaCesetteClea On atetethente 400,thnek ewestee* shout not reh, On OnCong MbhaMOn •Opearog m met statements with respect to ARS 7ho dastrbutor of the JPMorgan Funds rs JPMorgan astnbuton Senses Inc. Meth is an embed JPMcorgen Chase Bank NA JPMorgan Chase Sank N A and as offiaares racawe compensation ton !Patna° Funds for proofing sereces Amencen Canty ImestmentServrote Inc a the dot:Mute or the Amencen CenturyFunds Amencen CenturyInvestment ManagementInc :enemas investment *Also to a rospectsatund aevliand acestescaapensaton trom that fund army for pavan,mearrent edvacryend other sewn If you hens chosen one el the snap nitwit funds you we noted that posobons m the Pierre Money Market Sweep Fund representhollegs in The JPAksgen Mane Money Market Fub posterns on the FederalMoney Merkel Sweep Fund represent boding on the JPMorgan Fedora/Money Ment Fund and poserons m me Tax Exempt StoneyMat • t &map Fund represonthoefings m the JPMorgan Tax Exempt Money MarlcceFehd JPMSI to the Custothen M later Optirme end most mate, funds. tie ding Ned party mutual funds purONMed through JPMSI You shout harerecenrodsepmate.IPUSIconlematons tor each secunnes Sanaa-bon AV transe:bons ere sagest lo Meteors end condsox stead on the etheeseatle of sue conlernatons and me subject to the constitutor,. byJews customs and Micronesiansof the nwketplace whin commutedand governed by and cons Sued a >Co:ciente am NO taws Of the Stele of New Yak had as applcalaeletkwalaas and regue3ons Further informaton wen respect to conmssons and other Cheign related to the errecuton d bane Oral oncluday options transmbons has been included on confrmabons that wereprevousgfurnched to you Upon wmgen request JPMSI wan promptly supply3,ov hat, the bleat such mfarneton SharehoMersel cortanJPIA Funds *recharged a redemption fee *qua. to "of theproceeds d they exchanges mavenshares of such funds warm OP days apotheue subsect to wine escophons set loth en the prospectus of the epee:aweFund Measeconsuot your JPMorgan reeresentethetv a 1st of the JPM Funds mat impose redemptron fees JPMSIIs a mentor of TeSecutos InvestorMotecton Corporation r.SIPC1 notbr.prog member:hp caporal:on funded by troker.deakes reentered wan the &motes end EaheneeConnesco Secureets and cash battler a customer et !PSIS, ere prctected by &PC up 10 5700000 Mir Nebo*. oath inCivOle up 10 SI00.000 of melee:ran kr cash SIFC does not protect •p•031tastes • on the valued the Mambas Assets heed on custody by JPMagen ChenBank NA (the Tank, we net subrect to S/PC. You mayMean mfolnahonlibOut SIPC. Mestong the SIPCenchco• co thew waded*. at Mow AOC erg e by contacting them al J P Maven Situate' Inc. JPMorgan Chase Bank NA car thee •ffAVOWS be 'Morgan Cda0ernee)maypievdeedninattativeasabdel saps dethOutiOncr shatehottlettorycoo to AcMagsn Funds. AnetenCentieyFunds. Ce fund. estebtehed sponsored. echoed. w managedby tied pates and the Wagon Companies way be compensated' such services JPMorgan Potato &Math, mwkehne name for the fAVIlit banking business conducted by J P Mogen Chases Co avow, its menden syrawala omdt.drng JPalorgen Chase Sank. NA. JP Morgan Trust Company. NA. and JP Morgan Secontres Inc Page 9 of 9 Confidential Treatment Requested by JPMorgan JPM-SDNY-00006345 Chase CONFIDENTIAL SDNY_GM_00275543 EFTA01485091