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JPMORGAN TREASURY SERVICES ANNOUNCES LAUNCH OF ENRICHED EURO PAYMENT SERVICES TO COINCIDE WITH ITS TARGET2 READINESS

Boston, 1 October 2007 - JPMorgan Treasury Services, the second largest euro clearer , today announced the next phase of its Euro Payments Strategy. To complement the migration to TARGET2, which will launch industry-wide next month, JPMorgan is now introducing a new range of product features for its clients.

These new features are being offered to clients making euro payments through accounts at JPMorgan AG or JPMorgan London. Highlights of these features include:

  • Innovative Intelligent Payment Routing, to reduce the overall cost of making same-day payments for clients, using JPMorgan-developed algorithmic routing logic that automatically selects the most cost efficient channel to route payments;

  • Secure Payment Confirmation, to offer a real-time advice-of-payment with a time-stamped completion confirmation, using SWIFT or JPMorgan's reporting channel products;

  • Euro Priority Payments, offering payment delivery within four hours for client credit transfers, utilizing the Euro Banking Association Priority Payments Scheme;

  • TARGET2 Indirect Participation Solution, which enables bank clients of all sizes to enjoy the benefits of being a direct clearer while avoiding the associated technology development and related ongoing servicing costs; TARGET2 Indirect Participation Solution also reduces the incidence of payment failures or delays and introduces simplified settlement instructions.

    Alan Koenigsberg, Senior Vice President and EMEA Core Cash Product Executive, said: "The features we are launching today will genuinely enhance the customer experience and provide new solutions to meet our clients' evolving needs. Euro clearing is a core part of JPMorgan Treasury Services' offering, and we have been and will continue to invest in this suite of products. TARGET2 and SEPA are revolutionary changes in the industry, and JPMorgan is working to continue to be well informed as the industry evolves."

    For further information about JPMorgan Treasury Services, please visit www.jpmorganchase.com/ts .

    About JPMorgan Chase Treasury Services

    The Treasury Services (www.jpmorganchase.com/ts) 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 operations in 36 countries, JPMorgan Chase Treasury Services is one of the world's largest providers of treasury management services.

    About JPMorgan Chase & Co.

    JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 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 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.

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