EFTA01512021.pdf

JPMorgan 0 08 2006 .IPNIorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 Private Bank Account Number Asset Account Portfolio of a FINANCIAL TRUST COMPANY, INC. August 01. 2003 - August 31, 2006 Explorative) of JPMSI Rungs: JPMorgan uses the toelleveg tomg system Overweight: Over the nett ex to Mee moths. no eyed the MX* wig outperkim the tier ego teal to:Joni:line stores en the Analyst's (or The analysts ream's) censer universe Neurrat Over tee nett SA to !Achy> months we expect YR: stock val palace .n Ana wen the onstage tote return of the stocks n the anasts(a the analysts toarn's)coeorago unease undenveiptit On. the nod ex to tneSie months. ave./mot this slot* me tinier -pa•kom the e.erape total rotten a the stocks in the analysrs (or the aneysta team's) coverage universe Independent Research Ratings: JPMSI aces not end' , se a otlxvvnse adopt The IndeponlentiteseoecnPrmsclatelearceenSterebnes Ot terenterms use a variety& items ken: as welas dikter trahrgs systems to deco te thee* recommodetons JPMSI uses a -retatNerahngs system of deserted stove /Res may uses df ,erentrobros system such Nail....b$0. 1,defig 0 94 system arch use such terms es ' NY. IOC a "sed- &nee "tedIhnod 'abrade-, Reds systems erehrhamentichd4rePent you ShOOd Mad cateludY thecierphons of all tames used n the JPMSt and IRerosearen Ma: is metded m the 'newel, tad For the reasonand sox* the research corSams the base kr Imo tamgs as wad as compete intonate*, coneenung the analysts vans. you should read oansittgli the resewchard not it es contents from the rahng atone JPMorgan Private Bank n The nw*eMg name for the pewees barlyng buenass conducted by J P Morgan Chase & Co through its subsea/es waldwde. inctuam JPMorgan Chase Bank N A 1P Morgan Trust Company, N A and I P Morgan &cat*: Inc Confidential Treatment Requested by JPMorgan JPM-SDNY-00037864 Chase CONFIDENTIAL SDNY_GM_00307062 EFTA01512021