JPMORGAN TREASURY SERVICES AND ALPHA BANK PARTNER ON OLYMPIC DEAL

- JPMorgan Treasury Services in partnership with official bank of
the Athens 2004 Olympic Games

SIBOS-SINGAPORE - 22 October, 2003 - JPMorgan Treasury Services (TS) a unit of JPMorgan Chase Bank and a leader in global payment, trade and treasury services management, automated cash and treasury management solutions, today announced a partnership with Alpha Bank in support of a bond issue required by a major security systems provider for the Athens 2004 Olympic Games.

Requested by the Ministry of Defence in Athens, the guarantee was made up of various bonds totalling EUR 120 MM and had to be issued by a local bank. JPMorgan TS decided to partner with Alpha Bank, one of its major correspondent banks in the Hellenic market, the second largest Bank in Greece and the official bank of the Athens 2004 Olympic Games.

Chris Meritzis, Emerging Markets, Sales Manager, JPMorgan Treasury Services, comments, "Alpha Bank seemed the obvious choice to issue the bonds, as one of the largest banks in Greece and as a major sponsor of the Olympic Games. This partnership further demonstrates JPMorgan's commitment to enabling clients to benefit from its extensive product capabilities. A major part of this is complementing our own branch infrastructure by extending partnerships with the best local banks."

Press Contacts:
Stefanie Davidson
+44 (0)7786 563 537
Philippe Jeanjean, Tom Coombes, Cognito
+44 (0)20 7936 9058

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