CLS SHAREHOLDER BANCO POPULAR ESPAÑOL SELECTS JPMORGAN TREASURY SERVICES AS CLS PROVIDER OF THIRD PARTY SERVICES

- Since the launch of CLS, JPMorgan has settled over 104,000 trades with CLS and has secured mandates with 20 third party services clients across the globe.

30 January 2003 - London - JPMorgan Treasury Services www.jpmorgan.com/ts, a unit of JPMorgan Chase Bank and a leader in global treasury, trade and cash management services has been selected by CLS shareholder Banco Popular Español to provide CLS third party services.

Banco Popular Español, the third largest banking group in Spain, selected JPMorgan after an extensive review of third party services providers because of its reputation within the market and competitive pricing, as well as its liquidity and credit offering.

Brian Wedge, CLS Product Manager at JPMorgan, comments, "This is a significant win for us, particularly because Banco Popular Español is a CLS shareholder and has been highly involved with CLS since inception. The fact that JPMorgan was selected is testimony to the strength of our offering and our commitment to CLS and the third party services market."

Press Release contact:
Kelly Burke
Cognito
Tel: +44 (0)20 7936 9058

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