EFTA01511857.pdf

03 2005 JPMorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 II3 JPMorgan Private Bank Account Number Asset Account Portfolio Page 13 of 17 FINANCIAL TRUST COMPANY, INC. March 01, 2005 - March 31. 2005 IMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES s • 3 Ornate Equity Hedge Fonds Emhange Funds Rest £sak and Other ARemathe Assets 1 Died anrek maw«uweserents ad pooled pnvekarrestments (eg Merest, an1~0 portnenhps and &Mod kaWityconpemos)aregenefaflyaqud securibes VabeSareeckneteson'y end tee not warrente tor accuracy*, ~Meknes.. Valueedo not represent the schral terms at attic?, I ensactons a 'aeon:mecoati be bought cr aab a new trensaaJons oaekl te entaedinto a Me actual tams on wh.ch e.atrg transactions corral be ApadaJedas of the date of Mu statement Dyed privilteeguay investnie00 aregenevalyrahsdet test unless then is en lierbaeseOOndarytradv~el n tre secunfiat an wit,0, Cate dyed parateeeuty awesImmts ate rated using m Fe( areas es d the Oast Of tole tnt bile~ day fa me Statement pe,,od Pooled porateequ,ry otrrtstments are veNalaccordno to Vie Ger./a/Metopes a Manageis staled meth00020gy In genteel pooled whale &wiry investments are vekeoter OW unless a spatter,' inwestment "tn. OcturS which ~dates* rereraebonol the investment The ~Aston rntitl10001;tes 0enene~e an eppreOe/of Die 03dr/002assets at the lone. Ot COW ore vortlenrclOan arroUnt al a 'ague et when mid party 0nenOng flea OCCiurecl ela market phO? if en &dive SOCOndery market develops. Of ala rat» CS00O3SkId Or an ext( Pandent party ~Se reNr tO me Mnted Pertneishg, agreement Misted Aa0,14' 0 ‘ynDenY agreement or ocher °pasta. documental.", far seen arrestment fa the spelte veMlr,Oln~y used by the GeneralPartner a tanager for that investment Morgan e.bvesstydist*ms a."). re$penstb.14y1O, (lithe tatraCyd tyro vilortneky, end St* enetriOJOSØ9y used by me Generel~rnew0 Men00 04n dith',09 0110. 00 0 . Weermyna.' 0,0S00,0 p COn1011n3 adhssernnaMg me raknitteM and (3)any usOro what the v*strainsare t VetriatiOnswo,tvondolk. informationpurposes my and re intended sake/ for gout own use !lodge fund.; gehWaraCatuato the pia (Me Wet Asset Value-or ' NAY,. 1045 beneld deyS ettawing the tail balineSS day d the In0nth For that reason bcdpro luird NAVs snown ate geowelybo Me Nagel the moo,' procodng !Ns statement end In genera Me NAY rs staged net ol mennementand earonm•Ins The NAY rs cat Waled according to Me GenistolPrtnefl a Manna's stated nananhArgy Phmsonsfor to mo arntrxt partnarshipagrooment tented MOANcompany agra•Menter aler 00•teh00 000"entabOn la eat Wins /end Aa rte specific ~ribbonmomodolegy used by mo GonorarPannot or Mirage for that hedge fund ~pan orp~daaarns any responsasray for (Who accuracy« the rnfamMon and the methodology used by the GeneralPellne Or Manager in damn; veletma(3)enyerasa omamoun COM,0000 a daSernhatog the wartaatient end (3)any use to eNcn the valtabonsw•put »Matrons worxonded rntermatonpureed« onN end an Wended sokilyla your own use For EochangeFonds the once (the 11,14 / .1~I Vegas'or WAV9inciudes the gated any non-merketabkrsecvnties the!~ karixd~M.S. wog a lav year*mefflocicasgy approx.:ley the board of the Manner The Nof Asset argueUSG* rflastne Me of acrid used to finance the nonanaaaMasascunties the nonrnsOrealebseciartes and the swap contracts used to mitigate the anerest rate nsl, between the Hosting rate on the Me a ',reda ani the toedrate of he non-meOretsbiesecunties The Fed can drew donn on me Med code to ploy erp~s and men flees at ~top a in de event teat the dadendncerne from Me undo*ngsecunbes cannot pay the erpensesc, the fund This statement does not panda tar reaorbng on rorvak anestments Meese conbnoe,o nay upon the General ettrem 0 , ~Iry «the ~mama vehicle for Mrs 'Mama!~ Po0e3 sone« whar are 0 , 0/400 by xvang se aces a abler swam slich we deem mast*. are not gvara~ tor accuracy a as reeMalate valves Tn. Gaptal Gad Sine Inception GSM and toshiSocutay ddetutrons Saw* Incepson MSS:Fatima loo updated ~WAN so rows «two, (caper ca and d4P.butMns) 4' any 3 raodgeloods oonerayanow subsovtons on a! monthly or Quaarybosis YOLI~St 10 hedge lurid Of hedge fr.rd Ic.nda gotiorayas ct :ha as: be-corns clay& tno subscNotion penOd Due $O early,tandog toptornotS by the apør,abietund yarre occOunt eney deNied ter the s~pnon am,um pno, O1O $~0,dere FIooserotorto the oppocabMhalgo rana oporothedocumentabon Mir tathadeASIS Confidential Treatment Requested by JPMorgan JPM-SDNY-00037693 Chase CONFIDENTIAL SDNY_GM_00306891 EFTA01511857