EFTA01508225.pdf

JPMorgan 0 08 2005 JPMorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 Private Bank Account Number Asset Account Portfolio Page 13 of 16 FINANCIAL TRUST COMPANY INC August 01, 2005 - August 31, 2005 JP Pagan Secaties ✓PMagan Cease Bank NA tether affAates (Me Morgan Camanes)may pmv de edinnaetme cuslcdel sales dealt:oral or sharobadoeserases M lArnfagae Fords Amencen Century Funds a funds es:abashed sponsored abused, a managed by Med parte: end the Morgan Companies 'my he componsaSad for sten sone= Explanation of JPMSI Paunps: JPMorgan uses rho Iceow,ng romp system Ovonvorglit: Dar 'IV no, an to meve rroo:ns we expect tas Ora *et cutperfose me average Mal Wan a Me stocks in the anaeles(Of the analyst's leam's)corfrage universe Neutral: Ora the heft su to Nein, monees we eves( ea: stock we perform a Are wch mte average total rcturn of the stocks tn the anaAsts (a tee analysts team's)cavenge universe elt,detweigne Oar tee nee se to Man+ moms. ....p.c.! Ma sioCe and uncleverksm tee ...facto tots) terve Of Mesta/a a the analysla (a tee anelyStA team's) Wean* uesase Independent Research Rating*: JPIISI does not coda sea othevose adopt the IndeaenclerlResewcaaanderreseerdi ander Wings ClIferentirms use a tumefy°, teens teems es net es erteraaratirgs systems to desert/hen racorrenerastons JPMSI uses a VeaAve'ratings snip/reas descn044 algae IRPs may use, eetteentrateo system auto as as an 'Pbsaute'rWings system an1use such tams as buy' Tee' a Peer &nos ,P1Wee 'and 'absoluteWho systems sena denfenta4ydatvent you staid read COrefuYy the do tons of allreales used el tee if:Inland IPPrewarceMat u inchdoOmtno research Xs*, f Fa Mu reason and since the research con:ems the base fa he ratings as eve as compkto mere:Ion consomme the analyses Ye., you should reed °statue,' the tesetvonani rot &et 0 Contents grantee eating adore JPMorgan Alvah, Bank n the marketing name l' tee emote barking buonees conducted Dy J P Pagan Chase S Co Thrown die sobsdranos xreklvede mete:Sag JPIAagan Chase Bank NA JP Morgan Trust Company. NA and JP Mayan Seca:tee Inc Confidential Treatment Requested by JPMorgan JPM-SDNY-00033419 Chase CONFIDENTIAL SDNY_GM_00302617 EFTA01508225