JPMORGAN TREASURY SERVICES HITS NEW U.S. DOLLAR FUNDS TRANSFER RECORD

-On first business day of the merger of its lead banks, JPMorgan clears over $2.7 trillion

New York, 19 November 2004 - JPMorgan Treasury Services, a unit of JPMorgan Chase and a leader in global payments, trade finance and treasury management, announced that on November 15th, 2004, it broke new records in its USD funds transfer business.

For the day - the first business day following the merger of its lead banks into JPMorgan Chase Bank, N.A. - JPMorgan's global clearing business processed 342,345 items for a record-breaking $2.7 trillion in USD fund transfers. For comparison, JPMorgan's average daily USD funds transfer is 240,000 items for $1.7 trillion

"JPMorgan is the largest and most respected provider of U.S. Dollar funds transfer services in the world," said Thomas Halpin, USD Clearing Business Executive for JPMorgan Treasury Services. "Our track record is built on successful implementations of funds transfer solutions worldwide. These record-breaking numbers further confirm JPMorgan's leadership role in the industry, and demonstrate the scale from which our clients can benefit."

Additionally, on the same day, JPMorgan processed $8.1 trillion in wholesale demand deposits. A typical day for wholesale demand deposit services processing at JPMorgan is $6.3 trillion.

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