From: US GIO <us.gio®jpmorgan.com>

From: US GIO <us.gio®jpmorgan.com> To: Undisclosed recipients:; Subject: Global Conference Call: Scenarios on US Fiscal Cliff & Asset Strategies : Tues, 8/7, 9amET Date: Mon, 30 Jul 2012 20:58:49 +0000 Inline-Images: JPM_logo.gif; spacengif; email_alert_icon.gif; image001.png .J.P Morgan MorganMarkets Research Email Alerts IN J.P. Morgan Research has published the following on MorganMarkets. Please click on the indicated URL to access your document. Headline: Global CC: Scenarios on US Fiscal Cliff & Asset Strategies : Tues 8/7 9amET Author(s): Thomas J Lee CFA. Katherine C Khor, Michael Feroli, Srini Ramaswamy, John Normand, Colin R Fenton Abstract: • Investors appear paralyzed by the pending US fiscal cliff, understandable given both (i) enormous stakes (up to 5% of GDP or more) and (ii) uncertainty around timing of visibility. Our previous stance has been that the fiscal cliff is not relevant until late 2012/early 2013. but as we move through the second half of 2012, it matters. • Please join us for a conference call to discuss what we view as the likely scenarios (around the fiscal cliff) and their assigned probabilities: that is, election outcomes and their effect on timeline. • We have assembled our global asset strategists (Economics, Fixed Income, Foreign Exchange. Commodities and Equities) to discuss the implications for the respective financial markets under each scenario. • Obviously, the global implications are enormous and can really only be properly analyzed from a multi-asset class view. It should be a very useful discussion. • Hosted By: • Thomas J. Lee, Chief U.S. Equity Strategist • Also participating: • Tom Block, founder Tom Block Consults and former Head of Government Relations for J.P. Morgan Chase(bio attached); • Michael Feroli, Chief U.S. Economist: • Srini Ramaswamy. Head of US Liquid Markets Strategy; • John Normand. Head of Global FX Strategy: • Colin Fenton. Chief Commodities Strategist. • Details and specifics: • Tuesday. August 7th. at 9:00am ET • DIAL-IN: 800-857.9651 (US); +1-312-470-7357 (outside US): Passcode: STRATEGY • Replay Through 8/14: 800.568.5428 (US); +1.402.344.6795 (outside US); Passcode: 8426. Replay available approximately one hour after the call ends. • Intemational Dial-in Details are available below: • Intemational Dial-ins: Link: hups:ilmm.jpmorgan.com:PubScrvict?action-tmail&duc-GPS-907825.0.pdf Copyright @ 1999, 2012 JPMorgan Chase 8 Co. All Rights Reserved. This email alert is sent only to authorized J.P. Morgan clients and is for informational purposes only. This email alert may contain hyperlinks and/or attachments to J.P. Morgan research that you requested. Additional information available upon request. This email alert may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. It is not intended as an offer or solicitation for the purchase or EFTA01147088 sale of any financial instrument or as an official confirmation of any transaction. Access to the research described herein is made available only to authorized J.P. Morgan clients with a valid ID and password to the MorganMarkets website. The research referred to in this email alert is made available globally by J.P. Morgan Securities LLC, J.P. Morgan Futures Inc., J.P. Morgan Securities plc, J.P. Morgan plc, J.P. Morgan Europe Limited or their affiliates as designated via the MorganMarkets website. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. My comments or statements made herein do not necessarily reflect those of JPMorgan Chase & Co.. its subsidiaries and affiliates. J.P. Mo an's Full Disclaimechttpslimm jpmorgan.comfdisclosures/companyfindex.htrnl This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers. available at hup://www.jumorgan.comMagesiclisclosurestemail. EFTA01147089