EFTA01497080

December (II, 2004 - NES, LLC December 31, 2004 Primary Account Than JPMorgan Private Bank Page 7 of 21 Important Information about Your Statement Fenian] accounts are subject to the Deposit Accounts Agreement or the General Terms For Accounts and Service. liminess accounts an: subjoct to the Tams and Conditions for Commercial Accounts or the General Terms For Accounts and Services. Your accounts, unless otherwise indicated on the blab:nu:nine 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 onM Telephone or write to the Bank if you think your statement or receipt is wrong. or if you need more automation about an electronic transaction on a slatetnent or receipt The phone number for inquiries is printed on the front of this gateman The address for inquiries appears below. We must hair fmm you no later than 60 days after we sent you the FIRST saternat on which the error or problem appeared. • Tell us your name and account number. Please direct all inquiries to your Morgan Account Officer at • Describe the error or the transfer you an: unsure about. JI'Morgan Private Bank Client Service and explain as clearly as you can why you believe it is an 500 Stanton Christiana Road. UCIPS3 error or why you iced mote information. Newark. DIE 19711-2107 • Tell us the dollar amount of the gsspected error. We will investigate your complaint and will correct any aror 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 recrcdit 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 examtne your account at once. If you feel at error has taken place or have questions concerning a nonelectronic transaction. telephone or write us within 30 clays. 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 Funds1Securides Securities (including Mutual Funds) and annuities are not hank 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 int oh e investment risks, including the possible loss of the principal amount invested. The distributor of the ;Morgan Funds is J.P. Morgan Funds Distributor, Inc. which is not affiliated with the Bank. The Bank and its affiliates receive compensation from the JPIslorg.an Funds for Ixoviding services to the funds. Read the JPMorgan Funds prospectuses carefully for &ails including fees and expowes, before invading 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 Flans. Reich & Tang Distributors Inc. and Reich & Tang Asset Managanent L.P.. which are unaffiliated with JPMorgan. are the funds' distributors and investment advisor. respectively. Reich & Tang Distributors Inc. is a membaNASD. IRA Accounts Accounts where the Bank serves as truswe or as discretionary investment manager for an ERISA plan or an IRA that hold Fiduciary Shares (as dos:tibial Mow) do not bur am portion of marnniatt. admiitistiative. 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 saves as unsay, or dikrtionan• incotment manager for an FRIBA plan or an IRA. which hold shares in the JPMorgan Funds other than Fiduciary. Moro, the Bat& receives fees for services front the JPMorgan Funds but waives account fees with teapot to the funds m held. Fiduciary. Shares are shares in the Select Shares class of 'Morgan Fax Aware Large Cap Value Fund, JPMorgan US Equity Fund, JPMorgan 'fax Aware US Equity Fund, JPMorgan Tax Aware Large Cap Growth Fund. JPNIolgan Mid Cap Equity Fund. JPMorgan Trust Small Cap Equity Fund. JPMorgan Fleming International Equity Fund. JPMorgan Short Tam Bond Fund II, JPMorgan 13ond Fund II, JPMorgan 'Fax Aware Enhanced Income Fund, 'Morgan Tax Aware Shat-Intermediate Income Find, JPMorgan Intermediate Tax-Free Income rind. 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 mongolian accounts for FRIBA plans or IRAs. "Rebate means an amount returned b• the Bank to the account which holds the Fiduciary Shares. The rebate amount represents the portion of 9acicing bars paid to the Bank by the muted fund with respect to Fiduciary Shares Confidential Treatment Requested by JPM-SDNY-00020497 JPMorgan Chase CONFIDENTIAL SDNY_GM_00289695 EFTA01497080