Bank One Doubles New Branches for Chicago This Year; 30 Additional Branches Bring 2004 Investment to $85 Million.

CHICAGO -- Bank One today said it expects to open a total of 60 branches in the Chicago market this year -- double the number promised in February. The 30 additional branches increase the 2004 total investment in Chicago area branches and ATMs to $85 million.

The bank already has opened 40 new branches this year, and expects to add at least 20 more in the next three months. Bank One is investing about $30 million in the 30 additional branches.

"We have really stepped up our presence in many neighborhoods across the city, making it more convenient for our customers to do business with us," said Jerome Goldstein, Regional Manager for Bank One's 386 branches in Illinois and Wisconsin. "Customers love that these branches are so easily accessible."

By yearend, Bank One will have 280 branches and 1,200 ATMs in Chicago and the surrounding suburbs, making it the most convenient bank in the Chicago area. Including Northwest Indiana, Bank One will have 310 branches in its Chicago market.

The new locations in 2004 include 41 branches in the City of Chicago and 19 in surrounding suburbs. More than one-third of those branches are in low- and moderate-income neighborhoods.

New Format Helped Double Plans

In February, Bank One announced plans to invest $55 million to open 30 branches, add ATMs and refurbish branches in the Chicago market. The new storefront branch format, which was introduced late last year, has allowed Bank One to accelerate its building plans.

The new branches are located primarily in strip malls and provide a full range of banking services in less than 4,000 square feet, requiring less real estate and allowing for quicker construction than traditional, stand-alone branch formats.

"Our new branches are a great success because they create a convenient, comfortable place for our customers to do business," Goldstein said. "Our personal bankers and licensed investment representatives can help customers evaluate their financial needs and then open accounts, make investments, and take out a mortgage or home-equity loan."

The following sites are set to open later this month or in November:

--3956 N. Sheridan Rd.

--7131 S. Jeffrey Blvd.

--1959 W. Division St.

--1240 W. Belmont Ave.

--2639 N. Milwaukee Ave.

--1230 N. Milwaukee Ave.

--5687 S. Archer Ave.

--1730 S. Harlem Ave., North Riverside

--118 Skokie Blvd., Wilmette

--323 S. Barrington Rd., Schaumburg

Each new branch will include:

--Four to six teller windows or teller towers;

--Three to four offices where bankers can assist customers with investment services, mortgages or other loans;

--Two or more 24-hour ATMs and a night depository.

Sometime in 2005, Bank One will convert its Chicago and Indiana branches to the Chase brand, as a result of the July 1, 2004, merger of parent companies Bank One Corp. and JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.