JPMORGAN TREASURY SERVICES INTRODUCES ENHANCED SECURE COLLECTIONS SERVICE(SM)

- Solution provides speed, reliability, risk mitigation and control

SIBOS-SINGAPORE - October 22, 2003 - JPMorgan Treasury Services a unit of JPMorgan Chase and a leader in global payment, trade and treasury services management, today announced the availability of an enhanced Secure Collections ServiceSM as part of its integrated capability for U.S. dollar check deposits. The solution leverages advanced technology to improve early fraud detection, speed return notification and enhance efficiency, in addition to accelerating
the check collection process and providing certainty around payment timing.

At a minimum, providers with a long-term commitment to the collections business must invest continuously in state-of-the art technology to detect ever more sophisticated attempts at fraud. According to Judy Lee, Vice President and Senior Product Manager for Global Deposit Services for JPMorgan, "Leading banks are applying forensic techniques as part of their current fraud-detection capabilities. JPMorgan is among a select few providers also using ancillary verification methods to enhance early detection."

The solution also leverages image and Internet technologies to provide enriched information. For example, JPMorgan supplements SWIFT notification of all returns with an actual image of the item in advance of returning the original paper check. Institutional clients can act more quickly to notify their customers. A Web-based courier tracking system also provides timely updates on deposits in transit. The tracking service has an added security feature of customer-specific, alpha-numeric tracking that enables JPMorgan to alert clients of out-of-sequence packages. The proactive approach reduces the
administrative burden on clients and helps quickly resolve discrepancies to mitigate potential losses.

Notes Lisa Robins, Senior Vice President and Head of Global Deposit Services for JPMorgan Treasury Services, "Check collections are a core client requirement. By applying technology to paper-based transactions, JPMorgan enables clients to bridge tradition and transformation. The service supports our clients in achieving broader strategic objectives around cost, efficiency, risk mitigation, security and resiliency and helps them to better serve their customers."

Traditionally, clients have used check collection services to mitigate potential losses associated with fraudulent U.S. dollar cash letters that have no time limit on returns. Enhanced offerings like JPMorgan's Secure Collections ServiceSM shifts the risk of uncertainty away from its clients and accelerates the collection process.

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