JPMorgan Worldwide Securities Services And Barclays Global Investors Complete Outsourcing Arrangement

London, 11 December 2006 – JPMorgan Worldwide Securities Services today announced that it has successfully completed its investment operations outsourcing arrangement with Barclays Global Investors (BGI) for the majority of BGI’s European business. The transition to JPMorgan’s servicing platform was one of the biggest investment services outsourcing transactions in the region.

JPMorgan Worldwide Securities Services now provides a fully integrated solution including: derivatives servicing and valuation, transfer agency, custody services, portfolio valuation and end client reporting, administration and fund accounting functions for the full range of BGI funds domiciled in the UK, Dublin, Jersey and Luxembourg. Worldwide Securities Services had already provided securities lending and custody for BGI’s UK funds.

Susan Ebenston, JPMorgan Worldwide Securities Services product executive for International Funds Services said, “BGI has been an outstanding partner throughout the implementation of this ground-breaking transaction. We are delighted to have extended our relationship with a valued client like BGI. We have been able to create a truly integrated operating model which delivers real value to both parties.”

Malcolm Smith, European Chief Operating Officer at BGI, said, “BGI historically has been extremely successful in launching new products and expanding the ways we can produce results for our clients. By leveraging JPMorgan’s scale and technology platforms, we will be able to continue to innovate and best serve our clients.”

About JPMorgan Worldwide Securities Services

JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $12.9 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services. For more information, please visit www.jpmorgan.com/wss.

About JPMorgan Chase & Co.

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.

Contact Information

Judith B. Miller

JPMorgan Chase & Co.

Contact via E-mail