EFTA01507825.pdf

10 2004 JPMorgan Chase Bank 345 Park Avenue. New York. NY 10154-1002 II3 JPMorgan Private Bank Account Number: Asset Account Portfolio Page 71 of 74 FINANCIAL TRUST COMPANY INC October 01, 2004 - October 31, 2004 In an Of Weis Oreitenlant theettlet Stitteellt IMAXIItg gag NM Olefin If you think that you skiemenf a seared es you need more klantration stouts &inseam agar aeterrent including a Noe of creat Yensection you mule write to us on a separate sheet desailang the arca end send to JFAtagen 5 Stanton Ctrielene Reed LOPS3. Ito** DE 107532107. We must hear heel you no NW than 60 days alter the statementon which the ma or problem speared is Sent YOJCSn =dee yaw art sauce speneasf but PrivateBea .A3 doing soADnot preserve yea ROO. In yawl...se. please proyidethefolbeirg ardamebon (9 your wounds:curd number (1 the doge erragenta the swede] era end ( g• descriaron a the era end eidgenation. dime can why you beoevo Mae is an owe if you need tree .hematitic you mat donee the elm you we unsure 4605 The JPMorgan Funds or The Salesian Instirertional Funds or The American Century Fulda Snares cr tee turds are est Oar* deposes end we not otter based by any bank govtanneNenbly a to FOC Ratan end safe price wi0 Rictus* end redenaaNi anise troy be more a 1044 then more/cost Itotme the money media tuna seek le meinten stable net asset valed$IW per shore Maas no asswencethet they walicontaxte to do so Thersametedannualincomer and dydendoekl knees kr met& funds represent/ft lunar nest reCent.000en dwxlend &molted P Moven Funds Dotnevkw. Inc is the datmater 0/the Jalapa Funds ad Alava° Century Ifriestrant Sawa* Inc a theMObola Of the AmencenCentutyFunls .1P Mager Investmart Management Inc end AmencaCenfuryinrestment Management Inc serves, investment &ease/a 10 Mew reSpearretund Noma end nagreargoviensatron from they reSPeave fund lanasesta panne invesetreet odesayttud Other services It you here Gloom cne a the entree natural funds you we noticed that O0440/14 al the Ftrme Money Media Snag Fond MON.", kanlonS n the JP/AVIS^ nklme Money Market Fond 004eOns.nthe Federeilloney Merkel Sweet, Fund neaesent hodnIs in the JPMorganFedsrelMoney Manna Fund arid patrons to Me Tax E amp; Money Meant Swoop Fred reptesentaidirgs in the JPMorsion Tax Exempt Money Maas Fund JPMSI a the custcdren c Anted aprons end mat mutual funds ncludorg tad party routes. funds purchased Meowoh JPMSI JPMSI a • nanberd to Secures, ImostorProteeten Corporation FSFC 7 a notitaprontmembeeshocaporatmn Andel by teaandeakiesregokimd with the Secunties and ExclaangeCcernasen Senintresend cash held tea customer account et JPMSI se protected up to to Mel net equeyoteschaCCOunt The first $500000 apecacton wench inctodes up lc WO COO of potation la ash. a provided by SIFC As of March 2204. the Oaten:ea the protectron s proudedby a sepataktErceasSIFC Steely Bad essued by Customer Asset Prolecton Company &PC and excess &PC protector+ do not protect against losses from fluctuations in tie varied the securities Assets nadir, custody by JPAkaigan ChaseElenk NA (The 19anteRve na saga to SIPC a excess S/PCprolecton JP Mapes Sear*. la. JPISOIMIn Chase ea,* NA Or VW OffgaleS "Matian Companies 7rnay pwvde adenimstative. custodial sales &antiunion or shareholdersaw*este Saar gen Funds AmencranCentury Funds or lads aleblished spensered abused cr managed by dug prates eosin,* Mager Companies nay be compenseial fa such somas Explanation of JAMS! Ratings: JPMorgan uses the fairomeg rang system Overweight: Over the next six to MeVe moths. we aped the slam, we cogerlarn the average toted return a the stars in the aelyas (or tie enelysts team's) average universe Neutral: Ore the next sa PoHelve months we expect ilk, stock wit partoun m kne with the nine toteNetter, a the slacks in the analyst's (a the enalystS teama)coreage ravers. undo/we/gar Oar Me newt tux to ta ke months. we expect the slack at onder.perfam the tango IOW felts° ci Me skcJis in the anahas (or the analysts tettert's) coverage wryest Independent Research Range: JOINS, does not endorse a Olflenniesdopt the IndopenlentReseatchPrandeermearch arbor !vamp Ofamenterms use a vs at mugs. oons as well as clarearatings systems to desatether recommendations !PM& uses a Nerstne'rehnos system as design:red stove IRPs may usr:re differentiating, system soot 04 as Or laaawereanas system ta d use such term, es 'Ow' 'hoer a 'any Snce "reabee-end Niesolutareergs systems ive/votlarnenleVydaleveol you should reed Cara", the donations al eV memos used in the JPMSI arid IRP research the is "toad in Me research tsar For rho reason and since toe maven contains the Lose a me tangs as won as complete irdamanon corxtening ire analyst's vets, you should rood caraway the research ad not Nab contents from the rabeg Mae. JPMorgan Pratte Benk a the inerheting name for the ante banvnp business conducted by J P Morgan Chase a Co through its :alder= xreldwde vickang JPMorgan Chase Bea NA JP Morgan Trust Company. NA and JP Mayan SdainfleS Inc Confidential Treatment Requested by JPMorgan JPM-SDNY-00032908 Chase CONFIDENTIAL SDNY_GM_00302106 EFTA01507825