0 1 12005 Account Number FINANCIAL TRUST COMPANY INC January 01, 2005- January 31, 2005 JPMorgan Chase Bank, N.A. 345 Park Avenue, New York, NY 10154-1002 JPMorgan Private Bank Asset Account Portfolio Page 7 of 29 Equities Independent, third party research selected by an Independent Consultant for certain companies covered by JPMorgan Securities, Inc. is available to clients of JPMSI at no cost. Clients can access this research at www.privateclientjpmorgan.com or can call their JPMorgan representative at their toll free number to request that a copy of this research be sent to them. Wien JPMorgan drops coverage of a company, independent research will continue to be provided for an 18-month period, when available. Refer to Equity Research Ratings section for research ratings on client holdings, if applicable. Note: C incicates Equity covered by JPMSI. P indicates position adjusted for Pending Trade Activity. Equity Holdings in Alphabetical Order DestiViOn Currency/ CumpSymbol Accounr Typo Ouannty Guinn! Market EStIrnaled Una COTTON hillattl Tax Cost Value use unreelaecl Annual Dividend Cos! Price USD ACCIUOCI Dividendi USD Gainless USD Income USD Yroh I % P SPDR TRUST SERIES 1 USD 0 118.16 0.00 N/A 1.9 78462F-10-3 SPY C TOO INC USD 465,678 27.16 12,647,814.48 N/A N/A 890333-10-7 TOO 465,678 are !loaned Total Equity 465,678 12,647,814.48 0.00 0.0 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00033138 SDNY_GM_00302336 EFTA01508008