EFTA01505793

07 2003 JPMorgan Chase Bank 345 Park Avenue. New York. NY 10154-1002 JPMorgan Private Bank Asset Account Portfolio Page 17 of 65 FINANCIAL TRUST COMPANY INC July 01, 2003 - July 31, 2003 Foreign Exchange Contracts continued Settlement Counter Counter Current tartMet Market Value Market value Unrealized Trine are an Cunene Amount Cunene Amount Contract Ram FOIWIltdRem ~Men VSO payaoa (ASO Gunton USO Jan. 15 03 Dec. 15 03 CHF - 13,765,000.00 USD 10,000,000 00 1.3765 1.368689 10,000,000.00 10,057,071.62 - 57,071.62 Apr. 24 03 Dec. 15 03 CHF - 7,770.500.00 USD 5,747,411 24 1.352 1.368689 5,747,411.24 5.677,332.00 70,079.24 Total Open 25,982,500.00 - 19,252,588.76 50,448,628.26 50,734,403.62 - 285,775.36 EURO CURRENCY - NORWEGIAN KRONE Jul. 31 03 Aug. 18 03 EUR 10,000,000.00 NOK - 81,893,000.00 8.1893 8.159615 11,249,492 81 11,290,418 63 - 40,925.82 EURO CURRENCY - U S DOLLAR Jul. 3 03 Aug. 7 03 EUR 10,000,000.00 USD - 11,470,000.00 1.147 0.888636 11,253,198.96 11,470,000.00 - 216,801.04 Jul. 15 03 Aug. 7 03 EUR - 10,000,000.00 USD 11,193,000.00 1.1193 0.888636 11,193,000.00 11,253,198.96 • 60,198.96 Total Closed 0.00 - 277,000.00 22,446,198.96 22,723,198.96 - 277,000.00 Jul. 31 03 Aug. 18 03 EUR - 5,000,000.00 USD 5,611,500.00 1.1223 0.888929 5,611,500.00 5,624,746.40 • 13,246.40 Total - 5,000,000.00 5,334,500.00 28,057,698.96 28,347,945.36 - 290,246.40 POUND STERLING - U S DOLLAR Jul. 25 03 Dec. 15 03 GBP 10,000,000.00 USD • 16,102,000.00 1.6102 1.593448 15,934,476.09 16,102,000.00 - 167,523.91 MEXICAN NEW PESO - U S DOLLAR Jun. 17 03 Dec. 19 03 MXN 107,925,000.00 USD - 10,000,000.00 10.7925 10.673532 10,111,461.08 10,000,000.00 111,461.08 Jul. 16 03 Dec. 19 03 MXN - 107,925,000.00 USD 10.172,007 54 10.61 10.673532 10.172,007.54 10.111.461 08 60.546 46 Total Closed 0.00 172,007.54 20,283,468.62 20,111,461.08 172,007.54 NORWEGIAN KRONE - U S DOLLAR Dec. 11 02 Dec. 15 03 NOK 73,135,000.00 USD - 9,616,699.53 7.605 7.303094 10,014,248.95 9,616,699.53 397,549.42 Dec. 11 02 Dec. 15 03 NOK 38,025,000.00 USD - 5,000,000.00 7.605 7.303094 5,206,697.42 5,000,000.00 206,697.42 Dec. 12 02 Dec. 15 03 NOK 37,560,000.00 USD - 5,000,000.00 7.512 7.303094 5,143,025.78 5,000,000.00 143,025.78 Dec. 12 02 Dec. 15 03 NOK 37,465,000.00 USD - 5,000,000.00 7.493 7.303094 5,130,017.59 5,000,000.00 130,017.59 Dec. 13 02 Dec. 15 03 NOK 74,370,000.00 USD - 9,962,491.63 7.465 7.303094 10,183,355.36 9,962,491.63 220,863.73 Dec. 13 02 Dec. 15 03 NOK 37,275,000.00 USD - 5,000,000.00 7.455 7.303094 5,104,001.22 5,000,000.00 104,001.22 Dec. 13 02 Dec. 15 03 NOK 36,350,000.00 USD - 4,885,424.37 7.4405 7.303094 4,977,342.57 4,885,424.37 91,918.20 Jan. 15 03 Dec. 15 03 NOK - 71,800,000.00 USD 10,000,000.00 7.18 7.303094 10,000,000.00 9,831,449.71 168,550.29 Confidential Treatment Requested by JPMorgan JPM-SDNY-00030776 Chase CONFIDENTIAL SDNY_GM_00299974 EFTA01505793