J.PMorgan JEFFREY EPSTEIN ACC For the Period I/1/IM) to 1/31/09 lerponaor internat.>, Retta.Png Anatol Rate &Iowans (ARS) ARS are debt a preterralsocurnea Ada in interest or dasiesd taroreset pencecann at.nt.nn Aancoan Inere may be dab, ~Wand nnnthly resets there 4 no g..antrnan Mtn man w•Y De londay if Mere arc not enough ads et an auchon to redeem the securnes avaniblefor sale the maid may be a failed aye!~ Ina Wedanew there a no assunnce that a secordwymarket red aerobe« That The "aunty waV trade at par a anyother once roe o tie on statements Accentnett uneaten shoal not rely On prang interne:inn Wpartng in the« satlements with respect to ARS It >co hens chosen one d the 31•~Ø ~lust hinds you ere notated that posoions in the Puma Money ~et Smsep Fund represent holiaNs in the JPMegon F• me Money UNA& Fund posgons in the Feder& Money ~he! Sweep Fund mpeesent hcaings n the JFalorgan FectoreilANNytaaNetFunst and poserons m me Tex E xernotIfoney Male Sweep Fund reisreSenlinNWN4 n the JRISYGRR TN( Clema Money ~INK Fond JAMS! et the Costa:hen iNtøtedOphern purChesect ~ugh JPMS1 Youmusl prompPy adyeeJPIISI of mefenalchanyes n yotv nnestmentoNsceves hnevenInlvann Unless jots atom 'PM& othennse JPMSI wait ~seta nfoymboncurrenb yin ts files to be compete and ecturate You should twee recewedseparateJF%4S, conlanwsbons ta each :counties Van section AV transerbons we subsea* to the toms and nand CA:ns stand on the ten:rondo of such conlvms!ons and aresvapot to the consbtutm by-b ws customs and mterpretabans of the Inarkeep408 Where eJaC;ded and governed by and construed n eCCOrdence with the Ian Cl the Stele Of New Yak and at ~tea ble tade al tan and repute3ons Further nknnaton min respect to COmmatuena and OM« chives, 'Meted to the (neCueN, of transactions In oledliN °Peons Sense:bons has been shohntod in confrmebons that noroptorattaailtananad to you upon wan ~vast AN, SI net promptly supply nsu en, the as! such nterm•bon Shansholdersof conen JP•Nrgan Funds are charged a relempton Me squill to 2% of tho pnxoeds /they exchengerrobeemsharesc1 awn twxls wtihn 60 days ot pu~so suRoci certain exceptions ma Iona in the prospectus of tn. appacaMaFund Please «mutt >ter JP Morgan representatnetcr • !at of the JP4knian Funds that impose redempton yes St is • member of We Seaman Investor Frolochon Co, aonstNn (SIPC7• not-kg-pia« manbasaw cap:anon/undo:Iby frokires ~sterol with ZS Sonnies orel ExcnangeCommoupon Socunras and cash held lo r a customer at JAWS! we fleeted by SIPC up I o S500.003 per CL4SCa. whch includes up lo MOAN °larder:bon !crash SIPC does no! protect agenstIonee from lbotustions ntknol !he securities Asseft held in custody Pp./Paladin Chase Bonk NA (The tank)are not sublet! to &PC Youmay4248n nformehon about SIPC. smacking Me StPC Bochum. on They webs, at 1.ww ',car« by COnMeen9 thRms: (204 3 714300 TO the e+tent epsYR.D» pkeyentied !he followng ~funs regtedngestmeted annua noarne (EAlMndeMmtited nett (EY)EN and EN« ~on types Of ~tents COLN include a return ot pi fennel a CONN, etins to ninth Cafe JIM EAIand EV souid be Overstated EA, met SYS.) est.:Twos and MpactwlnscØandyeBdmpM be ~ea Myna (ha, Mw OdeMall *mounts EYtellectsonN the men ~Ned by an «bestmen traces not Matchanges in as pea which may fluctuate JP Mown Seel/C*3w JPMorgan Chase Sank NA or Moe area»; line VP WrgAl Conatartm, may provd•ednwitafraDva ~WRY *Mot &Maxi», a shatehokknoryces JPMorgan Fonda Anerun C•nluy Fonda a funds OSURRRied sponsor«. ednxd a managed by havd part« and the JP Morgan Companes fray te compensated Ice such ~COS Bank products and sovces arc offered ihmugh JPMegan Chase Bank NA and es alltele &Karnes we offend byd P Mogan Secure's Inc Page 9 of 9 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00006485 SDNY_GM_00275683 EFTA01485213