EFTA01507702.pdf

10 2004 JPMorgan Chase Bank 345 Park Avenue. New York. NY 10154-1002 II3 JPMorgan Private Bank Account Number Asset Account Portfolio Page 14 of 74 FINANCIAL TRUST COMPANY INC October 01, 2004 - October 31, 2004 E•changcAsied oatens ace vetoed using market poses at the closed business to statement dale Oveclhe-Counfev (OTC)optons are vowel a: 1.44 Markel orgess otherwise agreed See: Important Information about Pricing and Valuations. important Olonnanon about Pricing and Masers:en Rtes seer* a went/rans provided by svt,n3 senoCes Or Otter Spotty olIK31 deerriteMb. We rot gLevarteed Sy scanty a as refignble rah.] Valyabons ♦over-the<ounler dOnviiNve tran.sattons inoludrog tartan demurer...0;49W depose predist2s. have been prepared on a rod-market ban These vaiLuSIOns are irate:tee vates as Of :he Close abUStrISSS al the date a the ailfenlent and incept as abacus° *rood 'unto?. these raluatorks do cot represent the actin .Wont at *Poch transachons a swathes could be boogie a sold a new fransactons could be envied mlo a the octal terms on elven Mahn; bonier:bons a securest tout' be Aqueleled as of the dale of the statement NO do not narrate then co/Veto/ins a accuracy These vMmtons are dewed from prOptiOtary mote based open wolf rccogncod Menoalprinoplos and no have. "then necessary to cakelate the present value of future cash (Ions made reasonable *senate, about relevant &Owe Market sonatass vokagons based On *the rnalohY a different emu, tees may paid dilatant issues Slogan empress!), &totems any einpanSth'WY la (1) me accuracy of the rncaos a interaS used n dinewp the vaianons (2)any woes a OTISVOOtt Corrpohng a clarrinieing me valuotons and (J) My uses to whch the vatatoons se put vetiations are provided to rotor-matron purposes only and are intended solely (a you own us* Anse role' to the trade 000tometyon for o'ersis of each tronsochon Confidential Treatment Requested by JPMorgan JPM-SDNY-00032777 Chase CONFIDENTIAL SDNY_GM_00301975 EFTA01507702