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registered address is 3rd Floor. 20 North Sathom Road. Silom. Bangrak. Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the O1K a.k.a. BAPEPAM LK. Philippines: J.P. Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock
favor income over growth assets. See page 7 for analyst certification and important disclosures. Click play to view video Global Asset Allocation Jan Loeys AC JPMergan Chase Bank NA John Normand J.P. Morgan Securities plc Nikolaos Panigirtzoglou JP. Morgan Securities plc Mika Inkinen J.P. mown Securit
nd is regulated by the Ministry of Finance and the Securities and Exchange Commission. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the BAPF.PAM LK. Philippines: J.P. Morgan Securities Philippines Inc. is a member of the Philippine Stock Exchange and is regula
eady news flow on wide gaps between each side's position. See page 7 for analyst certification and important disclosures. Global Asset Allocation Jan Loeys AC JPMorgan Chase Bank NA John Normand J.P. Morgan Socunbos plc Mk I P nl Irtz I u J.P. Morgan Secunlies plc Seamus Mac Gorain J.P. Morgan Sootin
and is regulated by the Ministry of Finance and the Securities and Exchange Commission. Indonesia: PT E. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Philippines: M. Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock Exchange and
in today's GDW). See page 7 for analyst certification and important disclosures. Global Asset Allocation 04 January 2013 Global Asset Allocation Jan Loeys AC (1-212)834-5874 JPMorgan Chase Bank NA John Normand (44-20) 7134-1816 M. Morgan Securities plc Nikolaos Panigirtzoglou (44-20) 7134-7815 Morga
Entities connected to both the Indonesia Stock Exchange and Jan Loeys AC

New Zealand
LOCATIONBombay Stock Exchange Limited
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION
Malaysia
LOCATION
Philippines
LOCATION
JPMorgan Chase
ORGANIZATIONEngland & Wales
LOCATIONthe Hong Kong
LOCATIONthe Stock Exchange
ORGANIZATIONJPMSAL
ORGANIZATIONCapital Markets Services License
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATIONDubai Branch
ORGANIZATIONKanto Local Finance Bureau
ORGANIZATION