EFTA01544986

May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Total enclosures: 87 Page 1 of 7 JPMorgan Chase Bank, N.A. 967 000 PB NES, LLC NEW YORK STRATEGY GROUP 457 MADISON AVENUE, 4TH FLOOR NEW YORK NY 10022 Your JPMorgan Private Bank Team: FRANCISCO VILLACIS MELISSA DALTON (888) 207-5225 Private Bank ServiceLine For assistance after business hours, 7 days a week. (800) 243-6727 Relationship Banking Summary Deposit Accounts Business Checking Description Total Number Opening Balance $91,262.59 Total Credits $250,000.00 Total Debits $271,022.81 Ending Balance $70,239.78 $70,239.78 EFTA01544986 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Page 2 of 7 Business Checkin Account Number NES, LLC Summary Opening Balance Deposits and Credits Checks, Withdrawals and Debits Ending Balance Activity Date May 01 May 01 May 01 May 01 May 02 May 02 May 03 May 04 May 07 May 07 May 07 May 08 May 08 May 09 May 09 May 09 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 $91,262.59 $250,000.00 $271,022.81 $70,239.78 Description Debit Opening Balance Check Paid # 22980 Check Paid # 23266 Check Paid # 23267 Check Paid # 23268 Electronic Funds Transfer EFTA01544987 ADP PAYROLL FEES Re: ADP - FEES Ref: 13TPW 1858282 Check Paid # 23270 Check Paid # 23265 Check Paid # 22754 Check Paid # 22753 Check Paid # 22755 Check Paid # 23264 Internal Funds Transfer FUNDS TRANSFERRED FROM DDA AC# IIII IIIII TO DDA AC# Letter f rom client Check Paid # 23299 Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 66TPW 051019A01 Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 777011038201TPW Check Paid # 22981 Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 66TPW 051019V01 Check Paid # 23271 Check Paid # 23276 Check Paid # 23277 Check Paid # 23278 Check Paid # 23279 Check Paid # 23280 Check Paid # 23281 $1,912.82 $108.38 $115.40 $1,098.50 $122.81 $269.55 $100.57 $756.00 $672.00 $756.00 $3,330.00 $100,000.00 Credits Balance $91,262.59 $89,349.77 $89,241.39 $89,125.99 $88,027.49 $87,904.68 $87,635.13 EFTA01544988 $87,534.56 $86,778.56 $86,106.56 $85,350.56 $82,020.56 $182,020.56 $268.19 $30,526.93 $55,445.26 $9,980.98 $5,223.06 $104.68 $49.88 $2,800.00 $111.14 $58.18 $58.60 $49.88 $181,752.37 $151,225.44 $95,780.18 $85,799.20 $80,576.14 $80,471.46 $80,421.58 $77,621.58 $77,510.44 $77,452.26 $77,393.66 $77,343.78 EFTA01544989 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: • Page 3 of 7 Business Checkin Account Number NES, LLC Activity Date May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 11 May 11 May 11 May 11 May 14 May 14 May 14 May 15 May 15 May 15 May 15 May 16 May 16 May 16 May 18 May 18 May 18 May 18 May 18 May 18 May 18 May 18 (cont.) Description Debit Check Paid # 23282 EFTA01544990 Check Paid # 23283 Check Paid # 23284 Check Paid # 23285 Check Paid # 23286 Check Paid # 23287 Check Paid # 23288 Check Paid # 23289 Check Paid # 23290 Check Paid # 23291 Check Paid # 23292 Check Paid # 23293 Check Paid # 23294 Check Paid # 23298 Check Paid # 23300 Check Paid # 22979 Check Paid # 23272 Check Paid # 23275 Check Paid # 23296 Stop Placed Stop Placed CHK# 22975 AMT 2,061.87 CHK DATE 04/04/07 Check Paid # 23273 Check Paid # 23297 Electronic Funds Transfer CON ED OF NY Re: INTELL CK Ref: 844131510000014 Check Paid # 22756 Check Paid # 23274 Check Paid # 23295 Electronic Funds Transfer ADP PAYROLL FEES Re: ADP - FEES Ref: 13TPW 2909006 Check Paid # 23212 Check Paid # 23303 Check Paid # 23302 Check Paid # 23304 Check Paid # 23305 Check Paid # 23306 Check Paid # 23307 Check Paid # 23308 Check Paid # 23309 Check Paid # 23310 $60.73 $106.76 $184.38 $74.93 $86.04 $51.12 $67.94 $64.30 EFTA01544991 $94.06 $43.00 $97.35 $338.97 $32.15 $1,734.00 $685.91 $1,652.00 $120.61 $26.85 $897.32 Credits Balance $77,283.05 $77,176.29 $76,991.91 $76,916.98 $76,830.94 $76,779.82 $76,711.88 $76,647.58 $76,553.52 $76,510.52 $76,413.17 $76,074.20 $76,042.05 $74,308.05 $73,622.14 $71,970.14 $71,849.53 $71,822.68 $70,925.36 $70,925.36 $1,206.24 $3,080.00 $11,192.27 $69,719.12 $66,639.12 $55,446.85 $2,061.87 $134.97 $897.32 $124.66 $1,243.50 $80.13 $473.50 $24.20 $1,115.00 $35.54 $37.24 $67.01 EFTA01544992 $54.41 $212.29 $53,384.98 $53,250.01 $52,352.69 $52,228.03 $50,984.53 $50,904.40 $50,430.90 $50,406.70 $49,291.70 $49,256.16 $49,218.92 $49,151.91 $49,097.50 $48,885.21 EFTA01544993 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Page 4 of 7 Business Checkin Account Number NES, LLC Activity Date May 18 May 21 May 21 May 21 May 21 May 21 May 23 May 23 May 24 May 24 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 29 May 29 May 29 May 29 May 29 May 29 May 29 May 30 May 30 May 30 (cont.) Description Debit Check Paid # 23311 Book Transfer Credit B/0: JEFFREY E EPSTEIN NEW YORK NY 10022Check EFTA01544994 Paid # 23301 Check Paid # 23312 Check Paid # 23313 Check Paid # 23314 Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 66TPW 052421A01 Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 752004625786TPW Electronic Funds Transfer ADP TX/FINCL SVC Re: ADP - TAX Ref: 66TPW 052421V01 Check Paid # 23315 Check Paid # 23319 Check Paid # 23326 Check Paid # 23327 Check Paid # 23330 Check Paid # 23331 Check Paid # 23332 Check Paid # 23333 Check Paid # 23334 Check Paid # 23335 Check Paid # 23336 Check Paid # 23337 Check Paid # 23338 Check Paid # 23339 Check Paid # 23340 Check Paid # 23320 Check Paid # 23323 Check Paid # 23325 Check Paid # 23329 Check Paid # 23341 Check Paid # 23342 Check Paid # 23343 Electronic Funds Transfer CON ED OF NY Re: INTELL CK Ref: 427009026500021 Check Paid # 23322 Check Paid # 23348 $86.83 $150,000.00 $218.18 $849.17 $3,683.84 $49.88 $28,886.43 $53,774.30 $5,223.08 $15,866.10 $692.68 EFTA01544995 $99.33 $589.07 $60.73 $293.08 $50.26 $71.12 $35.94 $34.18 $675.00 $122.81 $80.46 $56.12 $73.77 $1,635.14 $110.40 $108.38 $1,047.14 $53.60 $115.77 $41.98 $12,505.47 $62.95 $331.28 Credits Balance $48,798.38 $198,798.38 $198,580.20 $197,731.03 $194,047.19 $193,997.31 $165,110.88 $111,336.58 $106,113.50 $90,247.40 $89,554.72 $89,455.39 $88,866.32 $88,805.59 $88,512.51 $88,462.25 $88,391.13 $88,355.19 $88,321.01 $87,646.01 $87,523.20 $87,442.74 $87,386.62 $87,312.85 $85,677.71 $85,567.31 EFTA01544996 $85,458.93 $84,411.79 $84,358.19 $84,242.42 $84,200.44 $71,694.97 $71,632.02 $71,300.74 EFTA01544997 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Page 5 of 7 Business Checkin Account Number NES, LLC Activity Date May 30 May 30 May 30 May 30 May 31 May 31 (cont.) Description Debit Check Paid # 23349 Check Paid # 23350 Check Paid # 23351 Check Paid # 23352 Electronic Funds Transfer ADP PAYROLL FEES Re: ADP - FEES Ref: 13TPW 3338759 Check Paid # 23345 Ending Balance Checks Paid Check 22753 22754 22755 22756 22979 22980 22981 23212 23264 23265 23266 23267 23268 23270 23271 23272 23273 23274 23275 23276 23277 EFTA01544998 23278 23279 23280 23281 23282 23283 23284 23285 Date * * * * May 07 May 04 May 07 May 15 May 11 May 01 May 09 May 16 May 07 May 03 May 01 May 01 May 01 May 02 May 10 May 11 May 14 May 15 May 11 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 Amount Check $672.00 $756.00 $756.00 $2,061.87 $1,652.00 $1,912.82 $9,980.98 $1,243.50 EFTA01544999 $3,330.00 $100.57 $108.38 $115.40 $1,098.50 $269.55 $104.68 $120.61 $1,206.24 $134.97 $26.85 $49.88 $2,800.00 $111.14 $58.18 $58.60 $49.88 $60.73 $106.76 $184.38 $74.93 23286 23287 23288 23289 23290 23291 23292 23293 23294 23295 23296 23297 23298 23299 23300 23301 23302 23303 23304 23305 23306 23307 23308 23309 23310 23311 23312 23313 23314 Date EFTA01545000 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 10 May 15 May 11 May 14 May 10 May 08 May 10 May 21 May 18 May 16 May 18 May 18 May 18 May 18 May 18 May 18 May 18 May 18 May 21 May 21 May 21 Amount Check $86.04 $51.12 $67.94 $64.30 $94.06 $43.00 $97.35 $338.97 $32.15 $897.32 $897.32 $3,080.00 $1,734.00 $268.19 $685.91 $218.18 $473.50 $80.13 $24.20 $1,115.00 $35.54 EFTA01545001 $37.24 $67.01 $54.41 $212.29 $86.83 $849.17 $3,683.84 $49.88 23315 23319 23320 23322 23323 23325 23326 23327 23329 23330 23331 23332 23333 23334 23335 23336 23337 23338 23339 23340 23341 23342 23343 23345 23348 23349 23350 23351 23352 Date * * * * * * May 24 May 25 May 29 May 30 May 29 May 29 May 25 EFTA01545002 May 25 May 29 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 25 May 29 May 29 May 29 May 31 May 30 May 30 May 30 May 30 May 30 Amount $15,866.10 $692.68 $1,635.14 $62.95 $110.40 $108.38 $99.33 $589.07 $1,047.14 $60.73 $293.08 $50.26 $71.12 $35.94 $34.18 $675.00 $122.81 $80.46 $56.12 $73.77 $53.60 $115.77 $41.98 $663.11 $331.28 $32.12 $74.89 $66.93 EFTA01545003 $97.44 $32.12 $74.89 $66.93 $97.44 $126.47 $663.11 $271,022.81 $250,000.00 $70,239.78 Credits Balance $71,268.62 $71,193.73 $71,126.80 $71,029.36 $70,902.89 $70,239.78 EFTA01545004 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Page 6 of 7 Business Checkin Account Number NES, LLC Total Checks Enclosed Checks: 87 Fees and Charges for Business Accounts We value your relationship with JPMorgan Private Bank. You were not charged for services this statement period. Thank You. *Gap in check sequence $67,872.07 (cont.) EFTA01545005 May 01, 2007 - May 31, 2007 NES, LLC Primary Account Number: Page 7 of 7 Important Information about Your Statement Accounts are subject to the General Terms For Accounts and Services and applicable appendices and account agreements. Your accounts, unless otherwise indicated on the statement, are held by JPMorgan Chase Bank, N.A. (the "Bank"). Deposit accounts held at the Bank, including checking, savings, CD, and money market accounts, are FDIC insured. In Case of Errors or Questions About Your Electronic Funds Transfers (personal accounts only) Telephone or write to the Bank if you think your statement or receipt is wrong, or if you need more information about an electronic transaction on a statement or receipt. The phone number for inquiries is printed on the front of this statement. The address for inquiries appears below. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. • • Tell us your name and account number. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the suspected error. 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 for transactions outside the U.S. and point-of-sale transactions), we will recredit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation. In Case of Errors or Questions About Non Electronic Transfers Please examine your account at once. If you feel an error has taken place 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 bank deposits and are not FDIC insured nor are 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. The 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., and its affiliates receive compensation from JPMorgan Funds for providing services. Read the JPMorgan Funds prospectuses EFTA01545006 carefully for details, including fees and expenses, before investing or sending money. JPMorgan Select Shares of the Connecticut Daily Tax Free Income Fund, Inc. and JPMorgan Select Shares of the New Jersey Daily Municipal Income Fund, Inc. are not part of, or affiliated with, the JPMorgan Family of Mutual Funds. Reich & Tang Distributors Inc. and Reich & Tang Asset Management L.P., which are unaffiliated with JPMorgan, are the funds' distributors and investment advisor, respectively. Reich & Tang Distributors Inc. is a member NASD. IRA Accounts Accounts where the Bank serves as trustee or as discretionary investment manager for an ERISA plan or an IRA that hold Fiduciary Shares (as described below) do not bear any 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 where the Bank serves as trustee, or discretionary investment manager for an ERISA plan or an IRA, which hold shares in the JPMorgan Funds other than Fiduciary Shares, 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 Aware Large Cap Value Fund, JPMorgan US Equity Fund, JPMorgan Tax Aware US Equity Fund, JPMorgan Tax Aware Large Cap Growth Fund, JPMorgan Mid Cap Equity Fund, JPMorgan Trust Small Cap Equity Fund, JPMorgan Fleming International Equity Fund, JPMorgan Short Term Bond Fund II, JPMorgan Bond Fund II, JPMorgan Tax Aware Enhanced Income Fund, JPMorgan Tax Aware Short-Intermediate Income Fund, JPMorgan Intermediate Tax- Free Income Fund, JPMorgan 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 management accounts for ERISA plans or IRAs. "Rebate" means an amount returned by the Bank to the account which holds the Fiduciary Shares. The rebate amount represents the portion of servicing fees paid to the Bank by the mutual fund with respect to Fiduciary Shares. Please direct all inquiries to your Morgan Account Officer at JPMorgan Private Bank Client Service 500 Stanton Christiana Road, 1/OPS3 Newark, DE 19713-2107 EFTA01545007