EFTA01506468.pdf

12 2003 JPMorgan Chase Bank 345 Park Avenue, New York. NY 10154-1002 II3JPMorgan Private Bank Account Number FINANCIAL TRU mil Asset Account Portfolio December 01, 2003 - December 31, 2003 Page 11 of 44 Description Counter Counter Premium Premium Premium Current Market Unrealized Casio Amount Currency Amount Currency Local USD Value USO Saint oss USD Foreign Exchange continued EUR CALL USD PUT EUR 20,000,000 USD 25,000,000.00 USD 196,744.80 196,744.80 946,309.40 749,564.60 FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.25 KNOCK OUT @ 1.1375 KNOCK OUT C 1.21 BARRIER EXP 12/1/03 XEURCA-TP-Z EUR CALL USD PUT EUR 50,000,000 USD 65,000,000.00 USD 282,235.00 282,235.00 1,471,730.00 1,189,495.00 FX EUROPEAN STYLE OPTION NOV 01, 2004 C 1.3 KNOCK OUT O 1.1375 KNOCK OUT Q 1.21 BARRIER EXP 12/1/03 XEURCA-TO-Z Total Foreign Exchange 1,951,307.80 4,382,195.11 2,430,887.25 Exchange-Wed options we mated using market pnce4 el pre close ♦lysine's kr statement date Over. The-Counter (0 YC) options we valued el IM Market tiniest otherwise agreed Set Impale): InlOmtatiOn about Pricing and ValuallOnt Important Mfomiatton about Pricing and Vatuattons Aloes some et *Nth Sue prcvded by primp Demon a other sources what 'we deem raki,* are not guatanteed Ace Scanty a as reealable values Valuations of menthe-counter deny", PanaKtons mCluding Certain denvefreentOled deposit products. have been fl owed °nem:I-market Oasis TI=0 wantons re wd-cet✓ee rates as of Me dose ausons ol the dale of rho statement and. except as otherwae agreed n anMg. these ratuahans do not reptesen(tho actuator= at etch traosactons ce scannas could Co bought a sod ce new transacbcos could be entered no. a the actual teems on ntzch ousting transachons secuMmo could be Iqualatd as of the date of m's statement Ma do not 'arrant me✓ compbtonoss ce ecc✓acy these relations we dented from proprietary moth* based upon we.,trecoynced Imancial pnrerpbs and at hew. when ne.-as•vy caudate the present vats of future cosh Davis. node reasonable estimates about relevant Mite market cad etas Votabons based on allot mode:: or &arrant assumptons may rat( cheoront mots Mogen expressly &scrams arry responst.ety fa 0) loo accuracy of the moia's or estimates used vs derma; the vabatons. 0) any errors a ommacos m computing or dassommengthe vabatons art (3) any uses to which the rata tons am put Valuations aro worded for ?information nooses Only and are mlended solely layout own use Please rate to the bade con(mai= la Stags of each transaction Confidential Treatment Requested by JPMorgan JPM-SDNY-00031456 Chase CONFIDENTIAL SDNY_GM_00300654 EFTA01506468