EFTA01511682.pdf

02 2004 JPMorgan Chase Bank 345 Park Avenue, New York, NY 10154-1002 II3 JPMorgan Private Bank Account Number O Asset Account Portfolio Page 11 of 15 FINANCIAL TRUST COMPANY, INC. February 01, 2004 - February 29. 2004 IMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES 1 • 3 Rivete Equity Hedge Funds Efchonge Funds Red Estate end Other Marne!~ Assets I Died rove,eeptury.orestments and pooled pore»ovestments (eg intests rn Amited patinasnag and indedietWity nenpanet)efe genenfoyAkffed secnibes Yates østimakksOnfy ende not werented toe aCCur•CyOr C001~ Valved) 001 reef/Meet Me at tual terfro ef *MC* :remand/0ns Or liøeurgai Loud be bought Or *Okla new trensechons Could te entire:fir:O a Pie attuellenne al when er atop DenseUtOns COuri De INrudefeOeS Of the Oa» Ot the staten.nt Died private ecatAy investnien.5 /re generatyvala d el Mot unless there .3 an Kt resecondentradwg maf ket n the secuntes m vNwri, Can direct erne:deputy ilwesImmts an valued using ~ketone" as of the CIPS• Of the AM! DUPnetts clay Kr thd Slatemen. penod Pooled pore:beau:y ~Men" ere veAred sec:on:bog to Ihe GeneeelPfetneen of Manage, ' 'rated meth~gy Invent& pool.d 'fete eqinfy investrrents ere vetoedat COO 00..39 a spnliceat ~ea!~ event o ',tun when mendatn ~Mono( the ImMeoffol The ustuffbon reem000loges genteedYnciode en aPPubalof unclartrryassets af the tou.« ceot r a wrgionoloon amptint at a value at which lard perty tinanong has occurred at • morkel;woe it en actwo secondarymane! denkips. n of vauo <Ski/kited by an ~open:Mfg beefy Fins. fader to UP &Mod ~Meshy, tenement. Amviod 4~1ycompany agnomena ahce tetra rd0Curnentalon let each frfrestrnont kv me spoof< vigrofron nythp6oPpoy used by the Greed Paftnot a Manager lot that irwetnnon tådvan fhpfnincitscebni ony rospcnstdey for Mtn* «cayenne ellonnabn end If» methodology usod try Me GenerelPailnar Manaor danngwalualons. (2)•nyorronor am:isrons in comming eldserdnating the vhbabbons ard 0) any use te which the vatotronS we put Vatuatfons arepeondedk. vdcrnobonpuifposes any and otrindel SOW/. for your Own ure Hedge funds derevethconutatethe pre., (1Mb~ Asset Value-ot • NAV7 10-15 Munoz' days izadwerd the last business day or Pre month For that red:cn hedge fund NAY: shown ffenyeaybe the NAY of the month ~a:Aythis :Wen-en ~fed Ingenera! the NAY fs stated net of fro tand mentne tees The NAY e cakubled accordng b Me GencealPartners a Manage, : stakd rretlfcdoingy Plesserefet the limbed pertneestup egreennnt htnted Aatntlycompenyagfeeenenta other cpwabve deed/be/n*5db for each hedge fund ke the speech: kakebonmethodology used by Me GenealPabwva Manager tor that hedge fund Mown erpresslycloebuns any responsebay for MM. ecancycd the inkrmeton and the methodology used by the Generaeloattneece Manager vf deeneg vababons(2)anyetrors or onbsscins m compang cc Msseennatry the vakrations and (3)any use to wi'llch the vat:aeons tveput InalsaMfns weprendedfor ma:ern:4~purposes only and are etended sole/yid:ryes nun use For ExchanpeFunda the puce (me Wet Asset Vafve-oe WAV,includes Me velred any nOnakefaeleseCunbef Patera valved nra~ coop e fav veroernelhoOdopy ~weed by Pre board of the Manner The Net km« Vain&USE, ' 'effects the Me ob °eh! used to 4/.9»cont.,. the nonwfanweanesecunbes end Me snap confrects used to naivete the ~restrate ryk between the floating tale on the Meat aedd and the toed fete of Me non-nwlietaisesecw,efeis financeme nOnne944et1 The FonO Can drew Donn on the Me 01 °ex« b Pay ~dents , ' mene9ement fees at startup a .0 Me event Chef the 01vOendnor* leant% (marryingsecvntes cannot pay Meexpensesof me Fund This Sferern9nt does no. Proode tavreporting M Arnett' ',mermen's Seale Cfmbnue 10 fen upon the General Parton a Mareep of the reerfrnent welbere for the fnformebon Ras some of when ere ponder/ by peeing ~noes a °met sortces etven no doom ~9,Avarnbod tor accuracy eras roabzobe waives 2 The Capita, Caned Sine. those:on MSC, ' and tadvSocutnyddbtdbons She* tneopsnn USG, ' «Awns we updated niOn•Jiy to rat/Deal> , (cap:W ured and d4Pttit/OnS) e'enY 3 Hedge funds generaayaaaw suboorpton3 wen:nth* a qurvkwlyturus You nkeest,n a hedge fund a hedge fund of funds es generalyes of the fist business day </the subsnetfon period Due b enlytundetvegurements by the appbeabie fund your account may be ()CMS ke fro subscnpbon amount plan to the sub:on:ton date Peesetefer to the apPLoebre hedge fundsi oPer&nedCcurrentabon for further detags Confidential Treatment Requested by JPMorgan JPM-SDNY-00037512 Chase CONFIDENTIAL SDNY_GM_00306710 EFTA01511682