EFTA01497160

March 01, 2005 - NES, LLC March 31,2005 Primary Account Number. ° JPMorgan Private Bank Page 6 of 20 Important Information about Your Statement Accounts are subject to the Genus] Terms For Accounts and Services and applicable appendices and account agnxtumb Your accounts. unless othensue indic.atedon the statement. are held by JPMorgan Chase Bank NA. (the 'Bank"). Deposit &comas held at the Bank, including checking, savings, CD, and moray market accounts, are FDIC insunxl. In Case of Erron or Questions About Your Electronic Funds Transfers (personal accounts mill Telephone or write to the Bank if you think your statement or mop is wrong. or if you need more information about an electronic transaction on a natetnent or receipt. The phone number for inquiries is printed on the front of this statement. The address for inquiries appears below. We must hair front you no later than 60 days after we sent you the FIRST eatement on which the error or problem appeared. • Tell us your name and account numbs. Please direct all inquiries to your Morgan Account Officer at • Describe the error or the transfer you are unswe about. JPMorgan Private Bank Client Service and explain a: clearly as you can why you believe it is an 500 Stanton Christiana Road, I/OPS3 error or why you need more information Newark, DE 19713-210T • Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. It' we take more than 10 business days to do this (20 business days %r transactions outside the U.S and point-of-sale transactions), we will man% your account for the amount you think is in awn so that you will have use of the money during the lime it takes us to complete our investigation. In Caw 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 hank deposits and arc not FDIC insured nor arc 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. 'Ilse 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., end its affiliates receive compensation from JPMorgan Funds for providing services. Read the JPMorgan Funds prospectuses carefully for details. including fees and apt-outs, before investing or tending 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 1.2., which are unaffiliated with JPSelorgan, arc the fun& distributors and investment advisor, respectively. Reich Et Tang Distributors Inc. is a member NASD. IRA Accounts Accounts where the Bank serves as trustee or as discretionary inwNnuait manager for an ERISA plan or an IRA that hold Fiduciary Shares (as described below) do not tear am potion 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 when the Bank saves as trustee, or discretionary investment manager for an ERISA plan or an IRA, which hold shares in the JPMorrdut Funds other than Fiduciary Share:, the Bank receives fees for services from the JPMorgan Funds but waives account fees with respect to the fluids so held. Fiduciary Shares are shares in the Select Shares clan of JPMorgan Tax Assure large Cup Value Fund, JPMorgan US Equity Fund, JPMorgan Tax Aware US Equity Fund, JPMorgan Fax Aware large Cap Growth Fund, JPMorgan Mid Cap Equity Fund, 'Morgan Trust Small Cap Equity Fund, 'Morgan Fleming International Equity Fund. JPMorgan Short Tam Bond Fund II. JPMorgan Bond Fund II. JPMorgtur Tax Aware Enhanced Income Fund. JI'Morgim 'Fax Aware ShortsIntennaliate Income Fund, JI'Morgeon Intamediate Tax-Erce Income Fund, JPIslorgim 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 Bea's trust accounts or in the Bank's investment managanan accounts for ERISA plans or IRAs. "Rebate mean an amount returned by the Bank to the account which holds the Fiduciary Shares. The rebate amount represents thc portion of servicing fees paid to the Bank In the mutual fund with mum( to Fiduciary Slum. Confidential Treatment Requested by JPM-SDNY-00020581 JPMorgan Chase CONFIDENTIAL SDNY_GM_00289779 EFTA01497160