Press Release: JPMorgan offers Tradeopt, new suite of trade finance tools to financial institutions

From traditional to electronic services, JPMorgan helps correspondent partners offer end-to-end solutions to their clients.

SIBOS - Atlanta, October 13, 2004├╣JPMorgan Treasury Services, www.jpmorgan.com/ts, a unit of JPMorgan Chase and a leader in global payments, trade finance and treasury management, today announced it is offering its correspondent banking partners a new, complete suite of trade finance tools called TradeOPT. This end-to-end suite of services allows financial institutions to meet all aspects of their customers' trade finance needs - from traditional services, like letters of credit, to state-of-the art electronic solutions. TradeOPT is designed for customers ranging from regional to multi-country global entities, and the offering runs the gamut from correspondent relationship to complete solution provider.

"Unlike some financial institutions, JPMorgan is not competing with its correspondent customers, and is instead focused on partnering with them in their success," said Bruce Proctor, senior vice president and global head of trade services, JPMorgan. "Through the TradeOPT suite of trade finance solutions, financial institutions can significantly reduce overhead, while maintaining a presence in the ever-competitive global trade business. And by partnering with JPMorgan, they can take full advantage of our economies of scale, global reach, premier technology, international reputation and vast experience."

As a leader in trade services, JPMorgan continues its substantial investment in system architecture, and on improving its functionally rich classical trade products, such as Standby Letters of Credit, Export and Import Letters of Credit, Documentary Collections, and Bank-to-Bank Reimbursements. Additionally, unlike system vendors, JPMorgan offers proven, off-the-shelf solutions that already include capabilities ranging from automated data mapping to Office of Foreign Assets Control (OFAC) checking. And, because the system represents the backbone of JPMorgan's global trade platform, most typical "extra cost" enhancements are already included and time-to-market on future enhancements is reduced. Furthermore, correspondent customers can immediately know the status of any transaction within the JPMorgan network via JPMorgan's Trade Information Exchange (TIESM) real time information retrieval platform.

Utilizing the proven technology of its back-end Global Trade System, JPMorgan has been able to expand its trade outsourcing and private label processing solutions. Financial institutions that look to participate in the end-to-end trade flows of their customers, but lack the branch network necessary to deliver those capabilities, can leverage JPMorgan's extensive branch network and technology. These services can be provided on a private label or complete outsourced basis, depending upon the client bank's long-term strategy. In addition to transaction processing services, JPMorgan offers state-of-the-art e-trade front-end and initiation products like Trade Information Exchange (TIESM), Trade Origination Process (TOPSM), and the document preparation tool TradeDoc┬ź for use by its clients' customers.

In keeping with its reputation as an innovator, JPMorgan continues to play a leadership role in the development of Internet trade capabilities, while enhancing online security protocol levels. A pioneer in the development of new ways to create and market trade risk and to provide various financing structures throughout the supply chain, JPMorgan endeavors to extend these same capabilities to its correspondent partners and to continue to offer innovative solutions such as the new TradeOPT suite of services.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.

About JPMorgan Treasury Services

JPMorgan Treasury Services (www.jpmorgan.com/ts), a unit of JPMorgan Chase Bank, is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. As a leader in U.S. dollar and cross-border payments, JPMorgan Treasury Services processes up to $2.3 trillion in U.S. dollar wire payments daily and has been the number-one ACH originator since the inception of the network some 29 years ago. With more than 50,000 clients and a presence in 36 countries, JPMorgan Treasury Services is the world's largest provider of treasury management services.