EFTA01559813.pdf

FINANCIAL TRUST COMPANY INC 6100 RED HOOK QUARTERS #B3 ST THOMAS 00802 VIRGIN ISLANDS, U.S. EFTA01559813 EFTA01559814 For the Period 2/1/12 to 2/29/12 Account Summary Account Number Investment Account(s) FINANCIAL TRUST COMPANY, INC. FINANCIAL TRUST COMPANY, INC. Total Value Q78805001, 241544092 Beginning Net Market Value 250,155.39 33.49 $250,188.88 Ending Net Market Value 19,624.68 33.49 $19,658.17 This account summary is provided for informational purposes and includes assets at different entities. (1) Assets held at JPMorgan Chase Bank, N.A., member Federal Deposit Insurance Corporation ("FDIC"), except for exchangelisted options, which are held at 3PMorgan Clearing Corporation ("JPMCC"). The Asset Account Statement reflects brokerage transactions executed through J.P. Morgan Securities LLC ("JPMS"), see "Portfolio Activity Detail". Equity securities, fixed income securities, and listed options transactions are generally cleared through JPMCC, a wholly owned subsidiary of 3PMS. Please see "Additional Information About Your Accounts" at the end of the Asset Account Statement. (2) Assets held in Margin Account at JPMCC, member Financial Regulatory Authority ("FINRA") and Securities Insurance Protection Corporation ("SIPC"). The Margin Account Statement reflects brokerage transactions executed by JPMS, see "Portfolio Activity Detail". Such transactions are cleared and carried through JPMCC. Please see disclosures located at the end of this statement package for important information relating to each 3.P.Morgan account(s). Change In Value (230,530.71) 0.00 ($230,530.71) Start on Page 4 12 0000001596.15.0.15.00001.FINAN18.20120312 Consolidated Statement Page 1 EFTA01559815 EFTA01559816 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01559817 For the Period 2/1/12 to 2/29/12 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 250,185.80 $250,185.80 3.08 $250,188.88 Ending Market Value 19,655.56 $19,655.56 2.61 $19,658.17 Change In Value (230,530.24) ($230,530.24) (0.47) ($230,530.71) Estimated 20.21 $20.21 Current Annual Income Allocation 100% 100% This Consolidated Summary shows all of your investments at J.P. Morgan other than investments we hold in trust for you. These investments may be held in custody or investment management account at JPMorgan Chase Bank, N.A. (the "Bank") or in a brokerage or margin account at J.P. Morgan Clearing Corp. ("JPMCC"). Brokerage and margin accounts are non-discretionary and all investment decisions are made by the client. J.P. Morgan Securities LLC ("JPMS") does not provide advice on asset allocation or investment management services, nor do its personnel take discretion over any client accounts. Such advice and services are provided exclusively by the Bank. Consolidated Statement Page 2 EFTA01559818 For the Period 2/1/12 to 2/29/12 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity FINANCIAL TRUST COMPANY, INC. Tax Summary FINANCIAL TRUST COMPANY, INC. Account Number Q78805001 Beginning Market Value 249,610.52 Account Number Q78805001 Taxable Income 244.87 'Unrealized Gain/Loss represents data from the time of account inception to the current statement period. Net Contributions/ Withdrawals (230,533.32) Tax-Exempt Income Other Income & Receipts Income & Distributions 244.87 Change in Investment Value 300.00 Realized Gain/Loss Short-term 300.00 Long-term Ending Market Value with Accruals 19,624.68 Unrealized Gain/Loss' CONTINUED Consolidated Statement Page 3 EFTA01559819 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Asset Account J.P. Morgan Team Paul Morris Paul Barrett Janet Young Gina Magliocco Online access Banker Investment Specialist Client Service Team Client Service Team www.MorganOnline.com Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-0701 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Cash & Fixed Income Portfolio Activity 4 6 Page 2 Account Q78805001 Page 1 of 8 Consolidated Statement Page 4 EFTA01559820 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Account Summary Asset Allocation Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 250,152.31 $250,152.31 3.08 $250,155.39 Ending Market Value 19,622.07 $19,622.07 2.61 $19,624.68 Current Portfolio Activity Beginning Market Value Withdrawals & Fees Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 250,152.31 (230,533.32) ($230,533.32) 3.08 $19,622.07 2.61 $19,624.68 Change In Value (230,530.24) ($230,530.24) (0.47) ($230,530.71) Year-to-Date Value 249,610.52 (230,533.32) ($230,533.32) 244.87 300.00 EFTA01559821 $19,622.07 2.61 $19,624.68 Estimated 20.21 $20.21 Current Annual Income Allocation 100% 100% Account Q78805001 Page 2 of 8 Consolidated Statement Page 5 EFTA01559822 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Account Summary Tax Summary Domestic Dividends/Distributions Interest Income Taxable Income CONTINUED Current Period Value 1.16 1.92 $3.08 Year-to-Date Value 2.01 242.86 $244.87 ST Realized Gain/Loss Realized Gain/Loss Current Period Value Year-to-Date Value 300.00 $300.00 Cost Summary Cash & Fixed Income 19,622.07 Cost Total $19,622.07 Account Q78805001 Page 3 of 8 Consolidated Statement Page 6 EFTA01559823 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Cash & Fixed Income Summary Beginning Asset Categories Cash Market Value 250,152.31 Ending Market Value 19,622.07 Change In Value (230,530.24) Current Allocation 100% Current Market Value/Cost Market Value Tax Cost Estimated Annual Income Accrued Interest Yield SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1 Period Value 19,622.07 19,622.07 20.21 2.61 0.10% SUMMARY BY TYPE Market Value 19,622.07 % of Bond Portfolio 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Cash & Fixed Income Cash Market Value 19,622.07 % of Bond EFTA01559824 Portfolio 100% Account Q78805001 Page 4 of 8 Consolidated Statement Page 7 EFTA01559825 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Note: 1 This is the Annual Percentage Yield (APY) which is the rate earned if balances remain on deposit for a full year with compounding, there is no change in the interest rate and all interest is left in the account. Cash & Fixed Income Detail Price Cash US DOLLAR 3PM PRIME MM FD - INSTL Total Cash 7-Day Annualized Yield: .16% $19,622.07 $19,622.07 $0.00 1.00 1.00 10,016.24 9,605.83 10,016.24 9,605.83 10,016.24 9,605.83 1.00 1.31 19.21 1.30 $20.21 $2.61 0.01% 0.20% 0.10% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield Account Q78805001 Page 5 of 8 Consolidated Statement Page 8 EFTA01559826 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Portfolio Activity Summary Beginning Cash Balance Transactions Income INFLOWS Total Inflows OUTFLOWS ** Total Outflows Withdrawals TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance (1.16) ($1.16) $10,016.24 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a FIRST IN, FIRST OUT method for relieving assets from your position 300,300.00 (300,002.01) $297.99 -Current Period Value 240,547.64 3.08 $3.08 (230,533.32) ($230,533.32) Year-To-Date Value* -244.87 $244.87 (230,533.32) ($230,533.32) Account Q78805001 Page 6 of 8 Consolidated Statement Page 9 EFTA01559827 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 Portfolio Activity Detail INFLOWS & OUTFLOWS Type Settle Date Selection Method 2/1 2/1 2/2 2/2 2/28 2/28 Div Domest Interest Income Description JPM PRIME MM FD - INSTL FOR JAN @ VARIOUS RATES FROM 0.0002503% TO 0.0004793% (ID: 4812A2-60-3) DEPOSIT SWEEP INTEREST FOR JAN. @ .01% RATE ON NET AVG COLLECTED BALANCE OF $201,339.04 AS OF 02/01/12 Misc Disbursement FUNDS TRANSFERRED FROM PRN A/C# Q78805001 TO PRN A/C# W23560001 PHONE INSTRUCTIONS FROM CLIENT Misc Disbursement TRANSFERRED BY WIRE TO FIRSTBANK PUERTO RICO FAO FINANCIAL TRUST COMPANY INC AS REQUESTED Misc Disbursement TRANSFERRED BY WIRE TO FIRSTBANK PUERTO RICO FAO FINANCIAL TRUST COMPANY INC AS REQUESTED Misc Disbursement TRANSFERRED BY WIRE TO FIRSTBANK PUERTO RICO FAO FINANCIAL TRUST COMPANY INC AS REQUESTED Total Inflows & Outflows (65,000.00) (100,000.00) (65,000.00) ($230,530.24) (533.32) Quantity Cost 9,604.670 Per Unit Amount Amount 1.16 1.92 Account Q78805001 Page 7 of 8 Consolidated Statement Page 10 EFTA01559828 FINANCIAL TRUST COMPANY, INC. ACCT. Q78805001 For the Period 2/1/12 to 2/29/12 TRADE ACTIVITY Trade Date Settle Date Type Settled Securities Purchased 2/1 Purchase 2/1 Description 3PM PRIME MM FD - INSTL REINVESTED @ 1.00 PER SHARE (ID: 4812A2-60-3) Quantity 1.160 Per Unit Amount 1.00 Market Cost (1.16) Account Q78805001 Page 8 of 8 Consolidated Statement Page 11 EFTA01559829 J.P. Morgan Securities LLC FINANCIAL TRUST COMPANY, INC. 383 Madison Avenue, New York, NY 10179 ACCT. 24154409 For the Period 2/1/12 to 2/29/12 Margin Account J.P. Morgan Team Paul Morris Paul Barrett Janet Young Gina Magliocco Online access Banker Investment Specialist Client Service Team Client Service Team www.MorganOnline.com Transactions cleared and carried through J.P. Morgan Clearing Corp. Three Chase Metrotech Center, Brooklyn, NY 11245-0001, (347) 643-2578 Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-0701 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Cash & Fixed Income Portfolio Activity 3 4 Page 2 Account 24154409 Page 1 of 4 Consolidated Statement Page 12 EFTA01559830 FINANCIAL TRUST COMPANY, INC. Account Summary MARGIN Cash Asset Allocation Cash & Fixed Income Market Value Market Value 0.00 $0.00 Margin Market Value 33.49 $33.49 Short Market Value 0.00 $0.00 Total 33.49 $33.49 Estimated $0.00 Current Market Value Annual Income Allocation 100% 100% Investment Objectives Speculation Permitted Capital Appreciation ACCT. 24154409 For the Period 2/1/12 to 2/29/12 Yes Yes Account 24154409 Page 2 of 4 Consolidated Statement Page 13 EFTA01559831 FINANCIAL TRUST COMPANY, INC. Cash & Fixed Income Summary Beginning Asset Categories Cash SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1 Market Value 33.49 ACCT. 24154409 For the Period 2/1/12 to 2/29/12 Ending Market Value 33.49 Change In Value 0.00 SUMMARY BY TYPE Market Value 33.49 % of Bond Portfolio 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Cash & Fixed Income Detail Quantity Price Cash US DOLLAR 1.00 33.49 Margin 33.49 Account Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield Cash & Fixed Income Cash Market EFTA01559832 Value 33.49 % of Bond Portfolio 100% Current Allocation 100% Account 24154409 Page 3 of 4 Consolidated Statement Page 14 EFTA01559833 FINANCIAL TRUST COMPANY, INC. Portfolio Activity Summary Current Transactions Portfolio Activity Detail Beginning Cash Balance Ending Cash Balance Period Value 33.49 $33.49 Year-To-Date Value --ACCT. 24154409 For the Period 2/1/12 to 2/29/12 No Activity This Period Account 24154409 Page 4 of 4 Consolidated Statement Page 15 EFTA01559834 For the Period 2/1/12 to 2/29/12 For your convenience we have combined statement(s) for activity you conduct through J.P. Morgan in one package. Below are important disclosures relating to these different accounts. These statements may relate to various account types. Some of the disclosures are applicable to all of your accounts. For ease of reference the disclosures applicable to a particular type of account have been grouped together by descriptive headers. IMPORTANT GENERAL INFORMATION APPLICABLE TO ALL OF YOUR ACCOUNT(S) Important Information about Pricing ,Valuations, Estimated Annual Income, and Estimated Yield Market value information (including without limitation, prices, exchange rates, accrued income and bond ratings) furnished herein, some of which has been provided by pricing sources that J.P. Morgan believes to be reliable, is not guaranteed for accuracy but provided for informational purposes and is furnished for the exclusive use of the client. The current price is the value of the financial asset share, unit or contract as priced at the close of the market on the last day of the statement period or the last available price. All values provided for structured yield deposits (for example, JPMorgan London Time Deposits) reflect the original deposit amount only. The value for Real Estate, Mineral Interests and Miscellaneous Assets may not reflect the most current value of the asset. Certain assets including but not limited to, pooled and private investments, non-publicly traded and infrequently traded securities, derivatives, partnership interests and tangible assets are generally illiquid, the value of such asset may have been provided to us by third parties who may or may not be independent of the issuer or manager. Such information is reflected as of the last date provided to us, and is not independently verified. Important information regarding Auction Rate Securities (ARS). ARS are debt or preferred securities with an interest or dividend rate reset periodically in an auction. Although there may be daily, weekly and monthly resets, there is no guarantee that there will be liquidity. If there are not enough bids at an auction to redeem the securities available for sale, the result may be a failed auction. In the event of a failed auction, there is no assurance that a secondary market will develop or that the security will trade at par or any other price reflected on statements and online. Accordingly, investors should not rely on pricing information appearing in their statements or online with respect to ARS. Where J.P. Morgan was unable to obtain a price from an outside service for a particular ARS, the price column on your statement and online will indicate "$0.00" which should not be relied on as the price at which ARS would trade. J.P. Morgan makes no representation, warranty or guarantee, express or implied, that any quoted value represents the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated. Such values may only be indicative. Valuations of over-the-counter derivative transactions, including certain EFTA01559835 derivatives-related deposit products, have been prepared on a mid-market basis. These valuations are derived from proprietary models based upon well-recognized financial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future market conditions. Valuations based on other models or different assumptions may yield different results. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or omissions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for details of each transaction. If a partial call is made with respect to an issue of securities included in your Accounts we will allocate the call by a method we deem fair and equitable. To the extent applicable, please note the following regarding estimated annual income (EAI) and estimated yield (EY): EAI and EY for certain types of securities could include a return of principal or capital gains in which case the EAI and EY would be overstated. EAI and EY are estimates and the actual income and yield might be lower or higher than the estimated amounts. EY reflects only the income generated by an investment. It does not reflect changes in its price, which may fluctuate. Offshore Deposits - London and Nassau Deposits in Foreign Branches are not insured by the FDIC or any other Agency of the Federal Government; amounts in such foreign accounts do not have the benefit of any domestic preference applicable to U.S Banks; certain Foreign accounts are considered reportable to the Internal Revenue Service on a Report of Foreign Bank and Financial Accounts (TD F 90-22.1). Disclosures Page 1 of 5 EFTA01559836 For the Period 2/1/12 to 2/29/12 Bank products and services are offered through JPMorgan Chase Bank, N.A. ("JPMCB") and its banking affiliates. Securities are offered by J.P.Morgan Securities LLC ("JPMS") and, to the extent noted below, cleared through J.P. Morgan Clearing Corp. ("JPMCC"). Neither JPMS, nor JPMCC is a bank and are each separate legal entities from its bank or thrift affiliates. Investment Products: Not FDIC Insured -No Bank Guarantee -May Lose Value Fund manager disclosure information available upon request If you have an investment account that is managed by an SEC-Registered Investment Advisor, J.P. Morgan will provide a copy of the advisor's Form ADV II or brochure upon written request. These statements are not official documents for income tax reporting purposes and should not be relied upon for such purposes, including determination of income, cost basis, amortization or accretion, or gain/loss. Such information, which may be inaccurate, incomplete or subject to updating, should be confirmed with your records and your tax advisor. Please take the steps indicated below if you think statement(s) are incorrect or contact your J.P.Morgan team if you require additional information about a transaction on your statement(s). IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR ASSET ACCOUNT(S) (LINKED TO JPMS) Your Asset Account consists of a bank account that custodies assets linked to a brokerage account through which securities transactions are executed. As a result, the Asset Account statement(s) reflect brokerage transactions executed through JPMS but (except for exchange listed options) held in custody at JPMCB. Securities purchased or sold through JPMS in U.S. markets (other then mutual funds) are cleared through an affiliate of JPMS, in non-U.S. markets securities are cleared through JPMS. Positions in exchange-listed options are held by JPMCC. For your convenience, however, positions in exchange-listed options are presented in Asset Account statement(s) together with other assets held in such account(s). All pertinent information about your settled and pending purchases and sales effected through your JPMS account during the period covered by these statement(s), is summarized in the "Trade Activity" portion of the statement(s). In Case of Other Errors or Questions About Your Asset Account Statement(s) Please review your statement(s) and promptly report any inaccuracy or discrepancy including possible unauthorized trading activity, unrecorded dividend payments, unaccounted cash positions, improper payments or transfers in writing to both the introducing broker, JPMS and the clearing firm, JPMCC at the addresses shown on your statement(s). Any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act (SIPA). If you have any questions please contact your J.P.Morgan team. In your written communication, please provide the following information: (1) EFTA01559837 your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can, why you believe there is an error. If you need more information, you must describe the item you are unsure about. We must receive your written communication no later than 30 days after the statement on which the error or problem appeared is sent or made available. If you do not so notify us, you agree that the statement activity and account balance(s) are correct. JPMCC and JPMS are members of the Securities Investor Protection Corp ("SIPC"), a not-for-profit membership corporation funded by broker-dealers registered with the Securities and Exchange Commission. Securities and cash held for a customer at JPMCC are protected by SIPC up to $500,000 per customer, which includes up to $250,000 of protection for cash. SIPC does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC. You may obtain information about SIPC, including the SIPC Brochure, on their website, at "www.sipc.org" or by contacting them at (202) 371-8300. In Case of Errors or Questions About Your Electronic Transfers. Disclosures Page 2 of 5 EFTA01559838 For the Period 2/1/12 to 2/29/12 Contact your J.P. Morgan Team at one of the telephone numbers on the front of your statements or write us at J.P. Morgan, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107 as soon as you can, if you think your statement is wrong or if you need more information about a transfer on the statement. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number. (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days (or 20 business days for new accounts) to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. In Case of Errors or Questions About Non-Electronic Transfers (Checks or Deposits) Contact JPMorgan Chase Bank, N.A. ("JPMCB") Member FDIC immediately if a statement is incorrect or if you need more information about any non- electronic transactions (checks or deposits) on this statement. If any such error appears, you must notify the bank in writing as soon as possible after your statement was made available to you. For more complete details, see the applicable account agreements and appendices that govern your account. Deposit products and services are offered by JPMCB Member FDIC. You must promptly advise your J.P.Morgan representative of material changes in your investment objectives or financial situation or if you wish to modify the management of your account. Unless you inform otherwise, your J.P.Morgan representative will consider the information currently in its files to be complete and accurate. With reference to JPMS and JPMCC: A financial statement of this organization is available to you for personal inspection at its offices, or a copy will be mailed to you upon written request. You should have received (or have made available to you) separate confirmations for each securities transaction. All transactions are subject to the terms and conditions stated on the reverse side of such confirmations and are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance with the laws of the State of New York and all applicable federal laws and regulations. Further information with respect to commissions and other charges related to the execution of transactions, including options transactions, has been included in confirmations that were previously furnished or have made available to you. Upon written request, JPMS will promptly supply you with the latest information. IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR MARGIN ACCOUNT(S) All positions in your Margin Account Portfolio(s) are held in custody at J.P. Morgan Clearing Corp. ("JPMCC"), Three Chase Metrotech Center, Brooklyn, NY 11245-001, (347) 643-2578. EFTA01559839 If you have a margin account as permitted by law we may use certain securities in such account for, among other things, settling short sales and lending the securities for short sales, and as a result may receive compensation in connection therewith. Please keep the following in mind when using a statement to track your brokerage activity in a margin account: The statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your request. Free credit balances in your margin account(s) are not segregated and may be used in the operation of JPMCCs business, subject to the limitations of SEC Rule 15c3-3. Unless otherwise noted, JPMCC or its agents and depositories will hold your securities. Upon your demand, JPMCC will pay to you the amount of your free credit balance, and will deliver to you fully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. PRODUCT RELATED DISCLOSURE: IMPORTANT INFORMATION ABOUT ALTERNATIVE INVESTMENTS: FOOTNOTES 1 - 4 Private Equity, Hedge Funds, Exchange Funds, Real Estate and Other Alternative Assets 1. Direct private equity investments and pooled private investments (e.g., interests in limited partnerships and limited liability companies) are generally illiquid securities. Values are estimates only and are not warranted for accuracy or completeness. Values do not represent the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into or the actual terms on which existing transactions could be liquidated as of the date of this statement. Disclosures Page 3 of 5 EFTA01559840 For the Period 2/1/12 to 2/29/12 Direct private equity investments are generally valued at cost, unless there is an active secondary trading market in the securities, in which case, direct private equity investments are valued using market prices as of the close of the last business day for this statement period. Pooled private equity investments are valued according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each investment for the specific valuation methodology used by the General Partner or Manager for that investment or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Hedge funds generally calculate the price (the "Net Asset Value" or " NAV"), 10-15 business days following the last business day of the month. For that reason, hedge fund NAVs shown will generally be the NAV of the month preceding this statement period. In general, the NAV is stated net of management and incentive fees. The NAV is calculated according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each hedge fund for the specific methodology used by the General Partner or Manager for that hedge fund or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. These statements do not provide tax reporting on private investments. Please continue to rely upon the General Partner or Manager of the investment vehicle for this information or for your Investment Management or Trust account contact your J.P. Morgan team. 2. The 'Capital Called Since Inception USD' and 'Cash/Security distributions Since Inception USD' columns are updated monthly to reflect activity (capital calls and distributions), if any. 3. Hedge funds generally allow subscriptions on a monthly or quarterly basis. An interest in a hedge fund or hedge fund of funds is generally as of the first business day of the subscription period. Due to early funding requirements by the applicable fund, your account may be debited for the subscription amount prior to the subscription date. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Hedge fund redemptions are generally on a monthly, quarterly or annual basis EFTA01559841 but can sometimes be subject to a multi-year lockup before a redemption is permitted. For redemptions, there is generally a notification period that can be a long interval before the actual redemption date. Redemption proceeds are generally paid 15 calendar days after the final NAV is issued, but can be subject to a holdback of a portion of the proceeds until an annual audit of the Fund has been completed. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Global Access Portfolios share certain characteristics with hedge funds. In particular, an investor who withdraws from a Global Access Portfolio will not receive the withdrawal proceeds in their entirety until 30-60 days after completion of the Portfolio's audit, which may be 18 months or longer after the redemption date. Interest might not be paid on any proceeds pending distribution. These restrictions apply even if the investor's account at JPMorgan is closed. The Confidential Private Placement Memorandum and applicable Supplements contain other important information about the Global Access Portfolios and are available upon request or for your Investment Management or Trust account contact your J.P. Morgan team. 4. Alternative assets may include publicly available mutual funds that utilize non-traditional investment management strategies, for example, strategies commonly employed by hedge funds. Mutual funds generally calculate the price (the "Net Asset Value" or "NAV") on a daily basis and mutual fund NAVs shown on your statement generally will be the NAV as of the close of the last business day for this statement period. Please refer to the applicable mutual fund prospectus for further details. If the applicable mutual fund is a JPMorgan Fund, please refer to disclosures on this statement concerning JPMorgan Funds for other important information. PRODUCT RELATED DISCLOSURE: THE JPMORGAN FUNDS OR THIRD PARTIES Shares of the funds referenced above are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC. Return and share price will fluctuate and redemption value may be more or less than original cost. While the money market funds seek to maintain a stable net asset value of $1.00 per share, there is no assurance that they will continue to do so. The estimated annual income and dividend yield figures for mutual funds represent the funds' most recent income dividend annualized. Disclosures Page 4 of 5 EFTA01559842 For the Period 2/1/12 to 2/29/12 Prospectuses and other fund information for JPMorgan funds may be obtained by calling your J.P. Morgan team or JPMorgan Distribution Services, Inc. at (800) 480-4111. You also may view and order materials online for JPMorgan funds at www.jpmorganfunds.com. J.P. Morgan affiliates may receive compensation from the JPMorgan funds for providing investment advisory services to the funds. J.P. Morgan affiliates may also provide administrative, custodial, sales, distribution, shareholder or other services to the JPMorgan Funds or funds established, sponsored, advised, or managed by third parties, and J.P. Morgan affiliates may be compensated for such services as allowed by applicable law. The distributor of the JPMorgan Funds is JPMorgan Distribution Services, Inc., which is an affiliate of 3PMCB. Assets may be reflected herein even though they may be held by a third party unaffiliated with J.P. Morgan. In such cases, unless J.P. Morgan otherwise agrees, J.P. Morgan has no responsibility for the verification, valuation, safekeeping or management of those assets. Disclosures Page 5 of 5 EFTA01559843 EFTA01559844