JPMorgan Chase & Co.
Jun 4, 2009

Chase Launches Proprietary Rewards Program Providing Unique Rewards, Benefits & Services

Chase Ultimate RewardsSM is available on Chase FreedomSM and the new Chase SapphireSM– with millions of reward redemption opportunities and a best-in-class online experience

WILMINGTON, Del. - June 4, 2009 - Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM], today announced the launch of Ultimate RewardsSM, available on Chase FreedomSM and the new Chase SapphireSM. Ultimate Rewards enriches the rewards experience with millions of redemption options that customers can use today. Cardmembers can view rewards activity, earn bonus points for shopping, redeem points, book entire travel itineraries, and search for and reserve a restaurant through a single, comprehensive Web site that provides maximum simplicity and ease of navigation.

"Ultimate Rewards has reinvented the rewards experience for Chase cardmembers by providing virtually limitless opportunities to earn and redeem points," said Eileen Serra, president, Chase Card Services. "Cardmembers can redeem points for literally millions of redemption options, simply by logging into ultimaterewards.com or calling Chase customer service. Ultimate Rewards provides cardmembers with the ability to earn points on every single dollar of spending, with no points earning caps, no points expiration, and virtually no restrictions on air travel."

A World-Class Rewards Program and Customer Experience
Every aspect of Ultimate Rewards is designed to provide maximum flexibility, simplicity, and accessibility - from the Ultimate Rewards Web site to customer service to comprehensive annual program guides. All of Ultimate Rewards' features and functionality are available at www.ultimaterewards.com and also at www.chase.com. Core program attributes include:

"Ultimate Rewards is redefining what rewards should be - a customer-friendly, easy-to-use rewards program that is chock full of opportunities to earn and redeem rewards, without earning caps, airfare blackout dates or points expiration," said Rob Rosenblatt, general manager, Loyalty, Chase Card Services. "With a world-class Ultimate Rewards Web site, featuring a highly intuitive design and ease of navigation, plus the Ultimate Rewards Bonus Mall and the Ultimate Rewards dining tools, we're giving our customers new reasons to come back each and every day."

Chase Freedom

Chase Freedom is Chase's most popular proprietary rewards/cash back credit card, offering cardmembers the ability to redeem for cash back, travel, and much more. Chase Freedom will now offer customers the ability to earn Ultimate Rewards on every purchase, with no caps and no expiration dates, good for cash back, as well as all of the Ultimate Rewards redemption options. There is no annual or program fee for Chase Freedom with Ultimate Rewards. Through ongoing quarterly promotions, cardmembers can earn triple Ultimate Rewards in rotating categories such as gas, home improvement and department stores. Chase Freedom will also offer the opportunity to earn additional points on certain purchases all the time for a low program fee. Cardmembers can earn up to 10 points per dollar when they shop online at select merchants featured at the Ultimate Rewards Bonus Mall.

Chase Freedom now incorporates Purchase Protection and Fraud Protection features. With Purchase Protection, Chase reimburses eligible items up to $250 in value that are lost, stolen, damaged and the difference when a customer finds the item for less within 60 days of purchase with a Chase Freedom credit card. Chase also will reimburse Chase Freedom customers for up to $250 within 60 days of purchase if the merchant won't accept the item as a return. Current customer accounts will be upgraded automatically to include these features at no cost.

New Chase Sapphire Also Offers Ultimate Rewards

Chase Sapphire, a new premium rewards card, is the culmination of a significant research effort geared toward understanding the unmet needs of today's affluent consumer. The product offers an outstanding array of product benefits including premier travel benefits, premium customer service, Ultimate Rewards and practical benefits such as enhanced identity theft protection and upgraded purchase protection. Chase Sapphire is currently available to existing Chase customers, and will launch nationwide this summer. Chase Sapphire Preferred, offering point transfers into select travel rewards programs, will be available this summer at an annual fee of $95.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries, and the company has issued about 159 million credit cards in the United States and Canada. 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 & Co. serves millions of consumers and businesses in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.