EFTA01497180

April 01,2005 - April 29,2005 Page 6 of 20 NES, LLC Primary Account Number ° JPMorgan Private Bank Important Information about Your Statement Accounts are subject to the Central Terms For Accounts and Services and applicable appendices and account agnaonam Your accounts. unless othanue indic.atedon the statement. are held by JPMorgart Chase Bank NA. (the "Bank"). Deposit &comas held at the Bank, including checking, savings, CD, and manes market accounts, are FDIC insunxl. In Case of Erron or Questions About Your Electronic Funds Transfers (personal accounts onri) it's-phoneor write to the Bank if you think your statement or atop( is wrong. or if you need more mormation about an electronic transaction on a riatetnent or receipt. The phone number for inquiries is printed on the front of this statement. The address for inquiries appears below. We must hair front you no later than 60 days after we sent you the FIRST riatement on which the error or problem appeared. • Tell us your name and account numbs. • Describe the error or the transfer you arc unnore about. and explain as clearly OS you can why you believe it is an error or why you need more information • Tell us the dollar amount of the suspected error. Please direct all inquiries to your Morgan Account Officer at JPMorgait Private Bank Client Service 500 Stanton Christiana Road, I/OPS3 Newark. DE 19713-2107 We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this (20 business days %r transactions outside the U.S and point-of-sale transactions), we will Taro% your account for the amount you think is in arm so that you will have use of the money during the lime it takes us to complete our investigation. to Caw of Errors or Questions About Non Electronic Transfers Please examine your account at once. If you fed an error has taken pkice or have questions concerning a non-electronic transaction, telephone or write us within 30 days. The phone number is printed on the front of this statement. The address appears above. If no report is received within this period. your account will be considered correct. Mutual Funds/Securities Securities (including Mutual Funds) and annuities are not hank deposits and arc not FDIC insured nor arc they obligations of or guaranteed by JPMorgan Chase Bank, N.A. or its affiliates or any federal or state government or government agency or government sponsored agency. Securities (including mutual funds) and annuities involve investment risks. including the possible loss of the principal amount invested distributor of the JPMorgan Funds is JPMorgan Distribution Services, Inc.. which is an affiliate of JPMorgan Chase Bank, N.A.. JPMorgan Chase Bank, N.A., end its affiliates receive compensation from JPMorgan Funds for providing services. Read the JPMorgan Funds prospectuses carefully for details. including fees and amiss, before investing or sending money. JPMorgan Select Shares of the Connecticut Daily Tax Free Income Fund, Inc and JPMorgan Select Shams of the New Jersey Daily Municirril Income Fund. Inc. are not part of, or affiliated with, the JPMorgan Family of Mutual Ftmds. Reich & Tang Distributors Inc. and Reich & Tang Asset Management L.P., which are unaffiliated with JPIsiorgan, arc the funds' distributors and investment advisor, respectively. Reich Et Tang Distributors Inc. is a mac NASD. IRA Accounts Accounts where the Bank serves as trustee or as discretionary invatmon manager for an ERISA plan or an IRA that hold Fiduciary Shares (as described below) do not tear am portion of investment, administrative, custodian or other charges paid to the Bank or its affiliates for services to the applicable JPMorgan Funds since these charges are subject to rebate as defined below. For accounts whore the Bank saves as trustee• or discretionary investment manager for an ERISA plan or an IRA, which hold shares in the JPMorgart Funds other than Fiduciary Shara, the Bank receives fees for services from the JPMorgan Funds but waives account fees with respect to the funds so held. Fiduciary Shares are shares in the Select Shares class of JPMorgan Tax Assure Large Cup Value Fund, JPMorgan US Equity Fund, 1PMorgan Tax Aware US Equity Fund, JPMorgan Tax Aware Large Cap Grow% Fund, JPMorgan Mid Cap Equity Fund, JPMorgan That Small Cap Equity Fund, 'Morgan Fleming International Equity Fund. JPMorgan Short Tam Bond Fund II. JPMorgan Bond Fund II. 'Morgan Tax Aware Enhanced Income Fund. Morgan 'Fax Aware ShorkIntennaliate Income Fund, JI'Morgem Intermediate 'l'ux•Froe Income Find, JPNIorgim Tax-Free Income Fund, JPMorgan California Bond Fund. JPMorgan NY Intermediate Tax Free Income Fund and JPMorgan NJ Tax Free Income Fund held in the Bank's trust accounts or in the Bank's investment managianan accounts for ERISA plans or IRAs. "Rebate means an amount returned by the Bonk to the account which holds the Fiduciary Shares. the rebate amount represents thc portion of servicing fees paid to the Bank by the mutual fund with respect to Fiduciary Shams. Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00020601 SDNY_GM_00289799 EFTA01497180