EFTA Document EFTA01512106

JPMorgan 0 Private Bank FINANCIAL TRUST COMPANY, INC. Account Number February 01, 2007 - February 28, 2007 Explana (ion or JPAISI Matinga: JOfAcrgen oses me fatning rettno system Ovenverght: Ore tre ne4 sa lo twelvemonths we evsect Mus stod, vei( outpertorm the °verne total retum arme skcks ,n prc eneyst's (or the a tysta teern's)ooferese unNerse Neutral Ove( Me re, I 3lX to Mehe ~nibs. +e e.r.ect thds sbcat, maperfam rn Me mV, evewe rettm of Me så:CM ær Ve ~Mrs (c. thp anelys(s leem's) coveene uhhwse Uncleneerght: Ova the ne.1 so to twdve months we ~mf lim stod< wall undst-parlam mo aveny° total/Num of the slacks dr ths. anM.srs (of Mo amiyst's tearn's)covcvne unntas* Incleponclent Research Raring,: JP&ISIdoes ra< «bana ~de Mopt the Incleponck.ntROSaalChROvberrneWalenikt rat"» anwantems tue a vannyve ran» terms es wen as definntrangs syslane to bosoa» the,' tecommonclations JPMSI ams i 'rebtne'retnes syskm as descobedebo,, iRlasrrey Lise e clherentrebnos system sock as m an "absoMe-rtogs system ond use suck tema es tun: Tokt' or 'sek' Sex° 'retetNe-eni 'absoVe'rettngs systems ere tonclamenteSyclalereM >co shcv.,W redd careladj Me ~bom of eMatvqs used H n the ~Sl and I Rneasearcli Via? 410,1.404 øl Me tesesvcn dual For "N5 it~ and 3,,Ctl U/P teseacbcentems tre basa la the reangs 6$ 0,0 as campe» snrcrmeSun conceemng Ue ene ers Vel.$ VOV innad teed Prelutt' the tedeatcn and not "(mas “Pents fromthe pang akte JP$Ibyian Anda. Bana K me inarkeana fln kad* pung, ~duna 666 nai$ nondaeled Maven CMse 6 Co IhnXign U subsia penes mak!~ inekxl,a6 JPIAciaan Chese Sank NA, J P Mogen Trost Commy NA and J P Morgen Secunt,es Inc Page 10 of 14 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00037952 SDNY_GM_00307150 EFTA01512106