EFTA01511840.pdf

02 I2005 JPMorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 fl JPMorgan Private Bank Account Number Q 78805-00-1 Asset Account Portfolio Page 10 of 14 FINANCIAL TRUST COMPANY, INC. February 01. 2005 - February 28. 2005 tMPORTANT INFORMATION ABOUT PRIVATE INVESTMENTS: FOOTNOTES I • 3 Prwate Empty Hedge Fonds Exchange Funds. RedEsla and Other Ahmetwe Assets 1 Coed ante comfy uwearrents anipooled phystearrestmento (eg retreats in Amtted pertnenhas and &MS kaWitycompentea)aregenefalkapwilsecunbes Votes areostmetes any end cre not warranted for accuracy*, ~Meknes.. »Meade ha represent the ocival terms at whet, benoactons a secret:ma could be bought cr sokl a tee trensaarons obeli be chimedinto a Me admit lams on hen.ch meting eansachono cook( be tiquela.leclas of the date of thu statement Dyed priveleegtoly investnieoU megFrKVayvahsde test unless tneee is en liebeese0Onderytradog mantel in the seeuntiel in hffiChaite dyed prneteemrey ewesImmts are raked using make(preen as Ofthe eta* 0/ tole lair/ butnells day fa WS Statement 'wood Pooled porateee0ry in~tments ere vaNdeblaCCOrding to In. GereverPolocres a Manager's stated methOdOlOgy In genteel pooled "Me amity town/man:a ate kakedartagt unless a spnliOant sewn/men!he/ Ocan wtroch me/Stna reberuabonel the investment The vekesten mati10000giea rnerany~e an epprne/of MB undeet,onja9Sets at the loop, Ot Cast a a WirtStindOnn amount ea value et when bred party 'prolong nay Ørered eta~ UV piKest en &dive SOCOnderynia, fret tkivei0p3. Of ate val.* est,~ed by an ateeendent 044, ~Stet« te led hinted PartnershVt agreement Wrvreb, AaOMYcOnleeny agrementa oller OpeetNedocumentaton a each mreestment fa the Spede ve‘JahOl inSf~y used by the GonadPenner a tanager la Mar investment Mogan e.bvesstyclist*ms a.nyreSpenstMlyla (lithe eettraCydNe maneta, end St* metnoiosøgy used by US Generel/NrtnenY Mangan dirim9ws'ialOIS (2) anYtwors OinssionS .°C0n1olln3 ord.ssiwnnatini2 Me valuations and (3) any use ro whot the vatetpins gaput Valuations arro VOodedkw' ribmiltiOnputp040.10nO, and are intended solog, for gout own use Madge fund; gergyed)rcetulatotts. (Mo Wet Asset Value-or ' NAY). 1045 business deyS ~wing the lest business day of toe month Fee that reaSOn hedge fund NAVs shown nsa gee«slyDo tro NAV of :no ~On ootoodng this statement pace In general tnt NAV' staged net of monegement end month*lees TheNOV*3 ~elated a:cowling to the GenerolPronnefl a Mannas staut natomlukryy Phmansforlo da lvntel pailneeshke agreement dented Seeryoompeny agreement Co Other COS"e dOeumente5On la each hedge fond AP the specific beembonmethodology used by Mo GommaiRmtnot or lutapa la that hedge fund ~eon orpramrychsaaens anyresponabOtylor Mtn* accuracy°, the 'Mama», and the method:A:1;Na~ by the GeneraIPartnet a Manager m damn; eitrabons <Zanier°,or "wens n COMpsty a chfafrWMang Pro between; and (3)any use to bench the valtaboos weput Valuations wormanded micrmabonpurposes my end are intended sotolyla your own use For ErchangeFands the ace (the Net Asas( Vatue'cr WAV9maudes yeV.s of any nonmarketabasecvntres Morse valved~MN using a lav vaguemethoclatgy approvalby Pre board of the Manner The Net Asset »MeUSO rikets the Me of cede used to finance the nowmanretatesamuntes the nonensOseMbbsecuntes and re swap contracts used to mitigate Me ~st rate n3A between the boating rate on the Meet erode,' and the Maltare el the norwmaMetsbresecuntren The Funi can drew down on the Me of csede to NI:ern:km-ooze/xi manegementlees et ~Woof in the event rat the doidendincome from Me retdolyngsecontes came! pay the erponseoct the fund ribs atare~t does not promde tar rebortmg onpeak owestments Freese ~boot M ray won Ne General Obitexbr a Menage 01the nentMent ,Mice kr the Wetmettoes P.O., some of en*, ere pranclecl by prang sermon a other swots *WM we deem *MM. are not guaranteed fa rommacy a as reebbaltde vales 2 Tre Copra' Cooed Since Msephon USE,' end 'Cesh/SeCutey dogritoOens Since Inceptor, USG,' cc:Ammo are updad tummy tO relØ OCInorty (captor co4S and d4brbutralS) 4' any 3 Hodgelonds oonorayallow subsovroos on e monthly a Quelorgboos Y017.1~?rna hedge lend a hedge turd d lunds r. gonpatYas ti the Ws: buSoeSs dayck the subscNotion pen0d Due $0~15,tundogtoptotnotSby the opt‘rarbro fund your account may to debited le, the ~on am:warpp.:0 the $~.C., dere Ploosoroforto the oppocabMhedge runs oporothedocomentotch rathardotors Confidential Treatment Requested by JPMorgan JPM-SDNY-00037676 Chase CONFIDENTIAL SDNY_GM_00306874 EFTA01511840