New York, 11 January 2005 - JPMorgan Investor Services (JPMIS) announced today the appointment of Michael J. Leary to oversee JPMorgan Compliance Solutions, a program designed to support the chief compliance officers (CCOs) of its clients.

"This appointment demonstrates our commitment to helping our clients be as responsive to the industry regulations as possible," says Virginia Meany, Global Fund Services Product Executive at JPMorgan Investor Services. "Our goal is to work beyond providing policies and procedures, and to help develop long-term practical and consultative solutions. Michael's role is a vital piece of that ongoing support."

Leary will serve as a liaison between clients' CCOs and JPMorgan Investor Services operational teams, facilitating sharing of information and communication. During his 11 year tenure at JPMIS, Leary has managed a variety of fund servicing functions for key clients, including treasury, compliance, board governance, and financial tax services. Leary was previously an Audit Manager at Ernst & Young, and is a certified public accountant. He is active in various industry groups including the ICI Accounting and Treasurers Committee, and is Co-Chair of the Massachusetts Society of Certified Public Accountants Investment Company Committee.

"Michael's deep understanding of many aspects of the investment company industry will greatly benefit our clients," says Meany. "We are now poised to support our clients with any future regulatory challenges that lie ahead of us. We feel that this new regulatory environment is a long-term journey, one which JPMorgan is ready to help our clients navigate."

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