Bank One Contributes $500,000 to Build Better Teachers and Readers in Arizona.

PHOENIX -- Bank One, the state's largest financial institution, announced today a $500,000 grant to build better teachers and readers in Arizona. The grant will lay the groundwork for statewide programs that will help preschoolers and their teachers for years to come.

"This generous grant from a major Arizona employer showcases the private sector's belief that the better we educate our children, the more we move Arizona forward overall," said Gov. Janet Napolitano, who has made early education a priority. "I'm thrilled Bank One agrees that investing in early education is a proven, cost-effective way to give young children the tools they need to start school ready to learn."

Every dollar invested in high quality pre-school programs saves $17 in welfare, criminal justice and remedial education costs later, according to a Perry Preschool Study.

"We know that preparing our children for school pays dividends for our families and our community," said Kristine R. Garrett, chairman of Bank One in Arizona, which employs 9,000 in the state. "This significant investment in early education underscores our company's commitment to building a better Arizona - starting with our kids."

The grant was announced at the graduation for Early Education Emergent Leaders, one of two key programs to be funded by the gift of Bank One, which merged last year with JPMorgan Chase & Co.

The two statewide efforts are:

Building better teachers -The newly named Chase Emergent Leaders Program for Early Education provides annual leadership and training for teachers and directors.

Building better readers - Successful literacy and curriculum programs will expand to reach more preschoolers around Arizona.

Early education receives relatively little financial support, even though human brains develop most rapidly during the years before kindergarten. The Governor's Office for Children, Youth and Families is working to expand successful preschool programs around Arizona through public and private collaboration.

Funds from the Bank One grant will be administered by the Arizona Community Foundation and the Arizona Early Education Fund, which are working together to support and reform Arizona's early education system. For more information, visit http://gocyf.az.gov/sr.

JPMorgan Chase & Co. (NYSE:JPM) is leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. About 9,000 Arizonans work for the company, which uses the brands Bank One, Chase and JPMorgan. In December all 200 branches in Arizona will change their name to Chase. For more information, visit www.jpmorganchase.com.