EFTA01509297

J.P.Morgan FINANCIAL TRUST COMPANY INC ACCT. O30171005 For the Period 6/1/09 to 6/30/09 The JPAlorgen Funds a The JPATOrgen Institutional Fund* Or The AmenCen Cerinby Fonds Shwas or the tyros am not hank "as.f s and aeon« gar entooley any Conk govanmententey a 974 F Return~ shemproe bete tluctuab s an./ redemptan »Wye 'nay be mas a ves than are' cos! 'snak Me money mom« hinds seek to uranten a statue not asset velvets/St 00 pee share there's no assuranceput theyme conbnue b do so The eshmeted annwebncome end dodend ~lowest°, mutual funds represent Um funds' most tecennnoornedodendennucted The d.stnbuey of the !PI/organ Funds is JPMagan Diseibuton Smites. Inc which is an artier', ar JP.Mongen Chas. Bank NA JPMagan Chase Bank NA and es «Males receive convenseton from JPIArtgon funds kr poncho; servoes Maren Century troesbstereSeroceoinc 4 the dasbuta of the AmencanCenlay Funds American Gent« y InvsYneratrenagerreof Inc serves es rtvesMteM «Noce b its respectveftbel temlyancltecavescompensetton kom drat fund Itenty Ice pmvelmo ovestment advecryand other serval ImpretentInformitionReg«dogAuchon Rate Secvntes (ARS) ARSaP debt a precenedsecurtes.Mn an 'Merest« dtvettencl rite reset petted caOtnn en action ~oven there may bed**. weeM y end monthY resets, there's no guarantee That Mere nul Ce noutley II Mere men« enough bds Mansur:Jon to red.:erne,* scouremsameabletcr sale the resua may bee teem' aucLon Ina faded aucton Mac .s a disatimothe4 a .s4ccodaymetkohnOdeveAspatlud the saw ray ••W badeat pet a any <Who a K. e,etVeded on stakvants Acoadogly investors sØ not reem wrong intnetmepµmvpin !her statements welt respect ARS You mint papby advise "IS/ or matcoelchenges infour investment objectyes a linencelotuaton Unless sou 'Moan JPMSI otherwise JPM,S1wM consider the Sams!~ currentty in as riles to be correlateand arc". You shout, have retched seer ~JAY& «intimations b' each seam:a:tensor!~ AN transectons ate subpart to tre tams and ccocAtmns stated on Me 'erase:de ditch ccolonstronsard we subject to Morons:4~ by-laws. customs and 'Ma pretetonsof the morAelphsce where executed": governed by and Øsbudin eccucclanoe wen the tows lithe Slate of Nee York": eaeppkabefederallows Ondregvb:443 Ftetherotormaton with respect to corm-ssoone and other charges rektted to the execufton of barsafian «Wing °Mons basetats. has been omAxled rn coot, menom that werobecritoostyfomotted b deha Upon ~ten request 'PM& wet øØy sumo's' you wan the Meal such inlarnetch Sherehoklers« certain .IPMagen Funds ere chewed a redemption beet, ve /to 2% Of the probed. f they ~nerve« redeemscrems d such tends mete, CO days« pvmhase sit/vest10 c«teoeicertoro se< forth in the peospectos li the eppbOsbeFoof Please commie lots P ~Pao rePresentatock. a tut of the JPMagan funds That impose redemption fees JP Mow nedvaps Inc JPUomen Chase Bank NA a thee ans.t64 (Me -JP Megan Can:moms, may provide edrnmstretne Cultodel sales, detobudon a shwerrobersenmeo to JPMagan Funds, An' Can Century Funds a funds estabSonset SpOnfaed edased ~nog«, by ~desk's and the J P Morgan bananes maybe canpensekd fa such savas Bank products abl stereos ere offered through JP1Acroan Chase Sank N A end Is affeates Secedes ete "fed byi P Megan Sec unteo Inc Account O30171005 Page 12 of 12 Page 13 of 18 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00034768 SDNY_GM_00303966 EFTA01509297