JPMorgan Chase Not Affiliated with Mini-Tender Offer

NEW YORK.- JPMorgan Chase & Co. announced today that it has become aware of an unsolicited “mini-tender” offer by Latam Investments LLC to acquire up to 5,000 shares per week of JPMorgan Chase & Co. common stock. Latam Investments LLC is a broker/dealer based in Miami, Florida. JPMorgan Chase is not affiliated in any way with Latam Investments LLC, the offer, or the offer documentation.

In light of the limited publicly available information concerning Latam Investments LLC and the “mini-tender” offer, JPMorgan Chase is unable to take a position regarding a recommendation to its shareholders on accepting or rejecting the “mini-tender” offer. However, we strongly recommend that you proceed with caution and consider all of the possible risks before accepting Latam Investments LLC’s “mini-tender” offer.

The U.S. Securities and Exchange Commission (SEC) has cautioned investors about “mini-tender” offers in an investor alert. “Mini-tender” offers are designed to seek less than five percent of a company’s outstanding shares, thereby avoiding many of the SEC’s disclosure and procedural requirements. The SEC noted that “mini-tender” offers have been increasingly used to catch investors “off guard” and that many investors who hear about “mini tender” offers “surrender their securities without investigating the offer, assuming that the price being offered includes the premium usually present in larger, traditional tender offers.” To read more about the risks of “mini-tender” offers, please see the SEC’s alert on the SEC’s website at www.sec.gov/investor/pubs/minitend.htm.

JPMorgan Chase understands that, under the terms of the “mini-tender” offer, at the time you accept the offer, you will not know the price per share being offered for your shares of common stock because that price will be set on a weekly basis based on the shares tendered. We also understand the Latam Investments LLC will only accept up to 5,000 shares of common stock per week, and that if your shares are not accepted you will not have the right to withdraw your shares from the offer and your shares will be carried over to the following week. Therefore, we understand that there is no assurance as to the price you will receive for your shares of common stock or when you will receive payment for your shares.

If you are considering accepting the “mini-tender” offer, you should consult your financial advisor and fully investigate the terms of the “mini-tender” offer before making an investment decision. You should also carefully consider the value that you will receive for your shares of common stock in the “mini-tender” offer and whether your shares of common stock could be sold for more value through other methods.