JPMORGAN ENHANCES IMAGE LOCKBOX BENEFIT CALCULATORSM

Clients Can Now Measure Net Benefits of Image-based Lockbox Services

NEW YORK, November 3, 2003 - JPMorgan Treasury Services, a unit of JPMorgan Chase and a leader in global payment, trade finance and treasury management, today announced an important enhancement to its Image Lockbox Cost/Benefit CalculatorSM, a consultative tool that allows clients to estimate the specific benefits of moving to image lockbox services. The calculator now takes customers through a series of questions related to their paper accounts receivables operation, and with the help of a JPMorgan Treasury Services sales officer, highlights the net savings they would receive should they convert to JPMorgan’s Nationwide Image Lockbox Network.

"Our customers have been telling us that they are concerned about the incremental costs of moving from in-house processing to paying fees for image lockbox services," explained David M. D’Silva, Global Receivables executive of JPMorgan Treasury Services. "Now, with these enhancements to our Image Lockbox Cost/Benefit CalculatorSM, we are able to consult directly with customers on a one-on-one basis, providing a comprehensive review of their unique company data to identify the net benefits and overall savings that image lockbox will yield for them."

JPMorgan’s Nationwide Image Lockbox Network allows collections to be automatically consolidated into a single account, providing customers with all the advantages of a national network of optimal mail collection sites without the disadvantages associated with multiple accounts or lockbox vendors. Because the network is designed with standardized processes between sites, corporate customers are afforded a quicker, more efficient way to turn receivables into usable assets.

At the heart of JPMorgan’s Network is its patented ILIADÒ online browser. Using this technology, clients can access remittance documents nationwide at any time. Timely access to detailed information about transactions means clients benefit from diminished mail and information float, significantly reducing the normal delay between payment processing and information availability. Some of the features of the online browser include image annotation that allows users to "stick" notes to check and document images, standard or customized report creation using magnetic ink character recognition (MICR) and key-entered information, and file download capability in Bank Administration Institute (BAI), fixed-length, or comma-delimited formats. The ILIADÒ online browser also features a ten-year image archive with disaster recovery back-up, a JPMorgan exclusive.

The Image Lockbox Cost/Benefit CalculatorSM demonstrates that by utilizing a combination of JPMorgan’s Nationwide Image Lockbox Network and its proprietary ILIADÒ online browser, four potential key benefits can be realized, including:

- Acceleration in cash application by one day or more
- Improved cash flow from earlier release of shipments on credit hold and earlier resolution of payment disputes
- Enhanced customer service enabling customers to respond to inquiries in minutes versus days
- Streamlined processing, staff efficiencies and the elimination of internal photocopies for greater cost savings

The Image Lockbox Cost/Benefit CalculatorSM is appropriate for customers of any size and industry.

Press Contacts:
John Johmann
JPMorgan Treasury Services
(212) 552-9377
Flavie Lemarchand
PainePR
(212) 613-4922

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