EFTA01512598

J.P.Morgan FINANCIAL TRUST COMPANY, INC. ACCT. For the Period 7/1/09 to 7/31/09 The JPAlorgen Funds a The JOATOrgen Institutional Fund* Or The AmenCen Cerinby Fonds Shwas or the tyros am not hank "as.f s and aeon« gar entooihy any Conk govanmententey a 974 F Retenen shetoproe wsV holoatean4 redemptan rely.'nay be mas a less than are' cos! Whte Me money mats« hinds seek to manen a statue not asset valvedSt 00 pee share there« no assuranceput they hof conbnue to do so The es«reted annual ocome end dodend ~owes for mutual funds represent Um funds' most tecent dodend *flouter:0d The d.stribuky of the !PI/organ Funds is JPMagan Diseibuton Smites. Inc when is an artier', ar JP.Mongen Chas. Bank NA JOSS:roan Chase Bank NA and es afledtes resevecomeenseton from JPI.Sagon funds b' pronclog servoes Armor-an Century trhesbnereSeroceoinc 4 the dasbutcv of the American Getty,y Funds American Gent«y InvsYneraMenagerreot Inc seen es creek/bone echoer b es respecthetwel lanlyencltecavescompensehon how' drat fund herby's, wovehtv ovestment advecryand other serval Important Informition RegiodogAuChOn Role SeCvntiee (MS) ARS in deble precerredsocurtes.Mn an 'Merest« dye/endre» reset prod caOtnn en ~tan ~oven there may bed**. weeMy end monthY resets, there's no guarantee That Mere hAl Ce nouiley II Meremen« enough bds Mansur:Jon lo redeemthescouremsayatablefa sale the resua may bee teem( aucLon Ina faded Dorton hareis a assurance:ha a :4ccodatymerkelbiS) deveAspertlud the sturdy uro babel pea any can« proe reOeclodon stakvants Acoadogly. investors sØ not relyn wrong mlamencommeenngrn !her statements welt respect ARS You mint prompt« adviseJOSS& or matcoelchenges in sour investment objectyes a linencralotuaton Unless sou 'Moan JOS.'S/ otherwise JPM.51.« consider the olormshon currentty in as riles to be correlate and arc". You should have receivedseer ~JAY& «intimations b' each seam:a:tensor!~ AN bandetons ate subpart .the tams and ccocAtmns stated on Me 'erase:deof sLch ccolonstronsard we subject to Morons:4~ by-årws. customs and 'Mapretetonsof the marAelphscewhere executed": governed by end Øsbuedin ecccidanoe wen the laws lithe Slate of New York end&t appecable federallaws Ondregvb:443 Faint.r otormat.on with respect to corm-ssoone and other charges reteted to the exeeohon of 0 ens:Khoo, «Wing options awsectons has been related rn con« menom that weatbefr000shhurrottoollo sc./ Upon ~ten request 'PM& wet «^atly sump« you with the »test such iMarnehon Sherenoklerscicertow ,PMagew Funds ere cromede redemption be es vetto 2% Of the troCeeds e they exchange« redeemssretes of such tends was', CO days« «ChM. stiteect to ~ten eicertoro se< forth in the trospectos or the eppbOsbeFunO Please comet! sous P ~Pao rePresentethelor a tut of the 'Ottoman funds Mat impose redemption fees .1« Stagen SocvMes Inc JRUomen Chase Bank NA a thee agnates (the ')P Megan Con:44~7 may provide ainutatratie Cultodel sales, detobudon a shwerrobersenmeo to JFIAcroan Funds, Amsrcan Century Funds a funds estaMened sponsored echoed a managed by :NM partes. and Nei« Morgan Gompanes maybe compensekd fa such savas Bank products tai heroes we offered through JP1Acroan Chase Sank N A end Is affeates Seouotres ete "fed byi P Megan Sec'oleo Inc Account Page 11 of 11 Page 12 of 18 Confidential Treatment Requested by JPMorgan JPM-SDNY-00038445 Chase CONFIDENTIAL SDNY_GM_00307643 EFTA01512598