JPMorgan Chase & Co.
Nov 12, 2008

Chase FreedomSM Offers Rewards Value Relevant to Consumers

Rewards with every purchase

WILMINGTON, Del. - Nov. 10, 2008 - Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM], today continued the evolution of its Chase FreedomSM product line with the introduction of a new rewards product. The new Chase Freedom credit card includes an expanded reward program that offers cash, gift cards - ranging from fuel to restaurants to department stores - travel and merchandise so that customers can choose whatever they want when they redeem. The new Chase Freedom credit card is designed to be clear and straightforward with features such as: one percent back on all purchases, starting with the first dollar spent - unlike some competitors - with no rewards earning cap, no rewards expiration, quarterly bonus earning opportunities and up to three percent cash back - all with no annual fee.

Like all Chase Freedom credit cards, the new Chase Freedom gives customers the freedom to choose the currency they earn (reward points or Cash Back Rewards). Customers can also earn up to an additional 10 percent back when they shop online at hundreds of top retailers through Chase Rewards Plus SM. The new Chase Freedom continues to offer the popular statement credit feature, which enables customers to use Chase Freedom to purchase the reward they want and apply their reward points on their next statement to pay themselves back. Reward redemptions start as low as $15 for Cash Back Rewards or 1,500 points. With such a wide variety of redemption options and no rewards expiration, customers can redeem for whatever they want, whenever they want. As always, Chase Freedom is blinkSM-enabled, allowing fast and easy purchases through contactless payment systems at more than 90,000 merchant locations.

Customers can be confident that their purchases are secure when they shop with the Chase Freedom credit card as the card comes with 24/7 fraud monitoring to protect customers' transactions and credit. With the Zero Liability Policy, customers are never responsible for fraudulent transactions either online or offline.

By visiting Chase retail branches, customers can get the Chase Freedom Exclusives product version.

Chase Information Security
Chase has many innovative fraud monitoring systems that detect and alert customers via phone, text and email of suspicious charges. Chase representatives will automatically alert customers of any suspicious account activity with our Fraud Early Warning Service. Plus, the Zero Liability Policy helps ensure that customers never pay for purchases that aren't theirs. Both services are built into customers' cards at no cost. Customers can also monitor their account online anytime.

Chase Clear & SimpleSM
With Chase Freedom and all its products, Chase takes an active role in providing tools that empower its customers to manage credit responsibly. Chase created Chase Clear & Simple, an ongoing program designed to help Chase customers better understand and manage their accounts through consumer-friendly initiatives, such as choice in due dates and overlimit protections. Chase Clear & Simple helps customers make smarter choices with tools that will help them more effectively control credit card accounts and avoid the fees they don't want to pay. To learn more about Chase Clear & Simple, visit www.chaseclearandsimple.com.

For more information on Chase Freedom and to apply for the card, visit www.chaseinformation.com/freedom.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The company has more than 157 million credit cards issued. Under the Chase and JPMorgan brands, the firm serves millions of consumers and businesses in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.