JPMorgan Chase Opens New International Image Deposit Centers

Centers Help Financial Institutions Lower Costs Without Changing Their Cash Letter Operations

NEW YORK– November 21, 2006 – JPMorgan Chase, a full-service provider of cash management, trade finance, and treasury solutions, today announced the opening of three new International Image Deposit Centers in Singapore, Hong Kong and Mumbai. These centers will allow JPMorgan Chase’s financial institution clients to clear their U.S. dollar cash letters and lower check transportation costs, all without changing their cash letter operations.

The Singapore, Hong Kong, and Mumbai International Image Deposit Centers join seven other JPMorgan Chase Centers outside the United States that allow financial institutions to initiate their cash letter processing. JPMorgan Chase unveiled its inaugural International Image Deposit Center in Frankfurt, Germany, in October 2006. The firm quickly established additional centers in Shanghai, Madrid, Milan, Paris, Zurich and Bournemouth, England becoming the first global treasury management services provider to establish image deposit centers in local markets around the world. JPMorgan Chase plans to open additional centers in 2007.

“For more and more of our global clients, this expansion of Image Deposit Centers means they can continue to conduct business as usual when it comes to preparing their U.S. dollar check deposits,” explained Lisa D. Robins, senior vice president, head of product management, Asia Pacific region, JPMorgan Chase. “After receiving items at any of our International Image Deposit Centers, we use state-of-the-art imaging technology to scan checks and deposit tickets, then convert them into digital images which are transmitted to the United States for clearing. JPMorgan Chase has made the investment in the technology, so our clients don’t have to.”

The Singapore, Hong Kong and Mumbai centers will enable financial institutions in Asia and India to streamline their check clearing processes, alleviating worries over weather delays or loss due to customs inspections. JPMorgan Chase invested more than $100 million to enhance its image infrastructure and expand its depository services capabilities.

“As the largest U.S. dollar clearer in the world and the second largest check processor in the United States, we have the scale and efficiencies to help our financial institution clients streamline their daily processes and keep costs down,” added Robins. “Opening these three new centers represents our continued commitment to serving the needs of our growing list of global clients.”

In addition to the International Image Deposit Centers, JPMorgan Chase offers a suite of cash letter and check collection products to process international payments:

* International Cash Letter clears and settles U.S. dollar check deposits, providing tracking features and SWIFT messaging regarding funds availability
* Secure Collections Service offers package tracking and fraud review processes for secure check collections, crediting clients’ accounts on the scheduled settlement date
* Multicurrency Cash Letter clears and settles checks drawn on international banks, posting within 24 hours of the receipt of payment and providing notification via SWIFT, fax or email

For more information about JPMorgan Chase’s image deposit services and solutions, please visit www.jpmorganchase.com/info/pr/imagedepositcenters

About JPMorgan Chase Treasury Services

The Treasury Services business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, JPMorgan Chase Treasury Services is the world’s largest provider of treasury management services. More information can be found at www.jpmorganchase.com/ts.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.

JPMorgan Chase is licensed under U.S. Pat. Nos. 5,910,988 and 6,032,137.

Contact Information

Judy Miller

Treasury & Securities Services

JPMorgan Chase & Co.

Contact via E-mail