J.PMorgan JEFFREY EPSTEIN For the Period 4/1/09 to 4/30/09 lerponaor inkyrratddRegbd,ndAdctdd Rate Socwines (ARS) ARS are debt a preterredericwarearida en Wrest a dadand taro reset pence cosy", do ettion Adhcoqn Inere may be <lady weaklyand monthly resets there is no guarantee that leve wry be goddy if there are not enough ed.: et an eucton to redeem the 'countess avaibblefor sab the reset may be a failed evolve In a faded ~bon there a no ass‘rance Mat a secondaryWelke< was downbeat Mat The secuntywaV hide at pr a any otrer once reeected stelemsnts AccordNM. investors should not rely On dridng inkemehOn Wpaidng in they satlements with respect to ARS It we hero ()been one d the "seep ~lust funds you ere notlied that positrons in the Puma Money ~et Satses Fund represent hot:limy, in the JPMegon Rime Money ~AN Fad posgons en the Federal Money ~a! Sweep Fund represent headings in the J"lorgan Fectoreililormy Market Fund and postion m me Tex E xernot Money Male Seep Fund reisreSenlisMAINs m the <PIAN9an TIN Elem.« Money ~NA Fund <PM& ot the dustahlin MAStadOphona pwbieded ~ugh JPMSI Youmusl prompUy adviseJPMSJ of miabnalchanoes n sow whestmentioNeceves a financial ~Mein Unless jots «dorm <PM& otherwise JPMSI one wetter Wm relownsboncurrenb yin ts files to be compete and scarab You should hare receniedseparateJFAISI conlernahons tor each :counties Van sedan AU transecbces ere subsea* to the tams and odndEcds stabd on the remand. of such conlvms!ons and arestrepot to the consbtuton. bybws customs and witerprciatrans of the Markeeplia08 where err!~ and IN./lined0y and Construed n *Cardenas with !he ken C< the Staid Of Maw Yak and ad appicabe &Wadden end regriAlMons Further intormation min ~peel to ~nand arid other charges 'Meted lo the ereCutOn is< transactions. mcieN<NOMIOnS Sense:bona has been included confrmebons that woroprovarpfiunwh<ra to ycm, upon wan request <PUS/ odi promptly suppineu with this latats such intowykon Shareholder»! Wien JPMcrgan Funds are charged a raclempbon besqual to 2% of the ynxoeds ethey exchengecr reCbern shares c< awn funds ~in CO days c< purchase sulyect b ~ram exceptions »I fold in me prospectus of the addidabaFund Please consult your JP Morgan repreiscntatnetcr • !at of Na Asfikrean Funds that impose 'tampion bee "St a a member of the Sewn!~ Investor ~Sect« Coo somben (SIPC 7. • not-kmprof< nsmbashes ccrwahon funded by &Dares registered with The Suomi« and ExcnangisCommosion Securitiesand cash held fa r a customer at JPPASI we fl oored by SIPC up b $500.003 per customer. whch includes up lo f OAN ere protection b cash SIPC does not protect agenat bases from %oh/aliens in the maims& the securities Assets held in custody by "fawn Chase Bonk NA (the tenA)are not sublet! to &PC. YoumayN:4am intonation about SAC. exwme Ne SIPC &Genre« on New webs at 1.ww ape ore' Cr by contacting then, al (2043)f-8300 TO the tent *pokers» piermentied the followng ~runs regrading estmeled minim income (EAlbnd ialitimeted meliNEY)EN end EN« certain types Of sørdeines curd include a returnor pnWaa Cotobiøens m which use end EA land E Y scold be Overstated EA, end EYae estimates and be actuator:come and prikt mane he bow a honer than the 0i:emailamounts E Yrellects only the axon» ~Ned by an investment it does not reArctchangas rn perm which nosy fluctuate JP Skagen SeCire.3 lx JPMorgan Chase Bank. NA a Moe asates ane WrgAn Gaprens, may prOydindrninantwe CWitda« *Mee distfibuted a NwNak/asavcpb JPMorgan Fonda Anerun Canary Fonda a funds nlabAstied sponsomd. advised a managed by herd part« and the I P Morgan Co pans <toy be compensated Ice Well seines Bank products and on cos are offered ihrough JPMegan Chase Bank NA and es or,litulos Secunbes are offered by J P Mogan ~tam Inc Page 9 of 9 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00006555 SDNY_GM_00275753 EFTA01485274