EFTA01512262.pdf

JPMorgan 0 Private Bank FINANCIAL TRUST COMPANY, INC. ACCT. For the Period 1/1/08 to 1/31/08 JAMS, is a meaty.r ot the SecontesInvesla Probscton Ca pasta"('SPC•) e no:he-pod meenbenho cupaebon landed by broker-dee*, repave:lava the Secartes and ExcharaeCommesson &cyan and cash hal fa a customer at JENA& e peoleoled by SIPC up to MOO WO pa nos lona whet, acad.s up to $1W0000 of racescoon la cut, SPC does not woad gems, toms born aucluetons an the raters/ the securities Ana:sheds, custody by JPIAactan Chase Bank. NA (Me "Bane)ane not skived to &PC You may obtan necemabon about SIPC moloarg the SIPCSrocIxee on thew *abate at 'W. spec cep- a bysontocbng them al (202)371.8300 J P Aeolian Secants Inc JPAeagan Chase Sank NA cc thee eaves. (the lAcepan Coopehas)maypeowdoadrarnatralms custodial sates oisbehbon a shenshoklaservcosto JAblorgan Fulls Mama CeoltryFunds a funds osatashad, sponsored advises( cc Award by eve potties. and the Morgan Convenesmy be compensated la such services. Explanation of !PM& Ratings: JPAlapan uses the ;albedo', retry system Ovenrapht Ora the nest sa to Make months wet expect las stock wit outpeelarn the avatar keel return of we stocks m the analyst's (a the anaAsCs beanCs)oorecepts unbars* Neutral: Ova the next Sex to tweak, moths me expect Ones stock wApev&mm Me mth the average Ida' return oft?* stocks al the svolystA (a the analyst's teanA)covevege advs. Underway's': 0.er Me nod as to tyska months we expect tms stook me uneloaperlarn the *verge total return of the stoats en Ins anayst's (a the analyst's leanfslopange unwise Independent Research Range: 'PSIS( does not endorsea °Menaceadopt the IndependentResearchlAandacesearChandbf Aitin2s Ddlecentlems urea vanety0t gangs terms es welt es dffecentralogs systems to Secrete e'er recottroencletons JPMSI uses a nealnerabnps system as desertedabove IRPs may use aditerantrabros system sod, as as an absaufse'raboos system and Aso such tams as buy 'Told' a 'sole Soca YastNeatal 'absolute'ratings systems ere funderreotelyetkrerr )et shouW road eaten", the cltintl.all d endings used JPMS1 and IRPreseech that b exacted in the tesesclatsed Fa las reason and tunce the research contains the base kr the ratings es eel/ SS complete ofcrtrebort concerning the analysts was. tam should read owe/via the manachand not intents ocolehts from the racy Mono JAVagan Rasa Bank o the rnackeboo nemesia the ;Prate banking lumen conducted by .0 P Morgan Chase 6 Co through es sanockacea salcfrede erAsOmp Jfilagen Ch1.90 Sank NA.IP Mayen Twat C.Ompeny. NA and JP. Magian &Cunt*. Inc Account Page 11 of 11 Page 12 of 17 Confidential Treatment Requested by JPMorgan JPM-SDNY-00038109 Chase CONFIDENTIAL SDNY GM_00307307 EFTA01512262