JPMorgan Chase Ranked First in ACH Originations for 2005; Bank Marks 31 Years as Leader in ACH Transactions; Reports Record 2.7 Billion Payments.

NEW YORK -- JPMorgan Chase, a full-service provider of cash management, trade finance, and treasury solutions, today announced it has again been ranked as the number-one financial institution in total automated clearing house (ACH) network payments for 2005 by NACHA - The Electronic Payments Association. JPMorgan Chase has ranked first in ACH originations since the inception of the network 31 years ago, and saw its ACH transactions grow to more than 2.7 billion in 2005.

"Our leadership position in ACH speaks volumes about the confidence our clients have placed in our ability to meet their critical origination needs," explained Patrick J. Moore, Senior Vice President, Product Executive, Domestic ACH and Deposit Services. "At JPMorgan Chase we are constantly exploring ways to bring solutions to the marketplace that complement our full suite of products so our clients can take maximum advantage of the growing e-check marketplace. We remain committed to finding solutions that not only serve our clients today but will continue to deliver results into the future."

Among the highlights of JPMorgan Chase's ACH performance in 2005 was an 85.5 percent increase in online authorized (WEB) and telephone authorized (TEL) transactions.

"As more and more consumers and businesses are turning to debit and credit cards for payments, paper check volumes continue to decline" added Moore. "Based on our dramatically increased volumes in online and telephone-based payments, we are confident this trend will continue."

With the widespread adoption of new imaging technologies today, the benefits of ACH, such as access to Accounts Receivable Check (ARC) conversion, are reaching more and more businesses that process consumer checks. JPMorgan Chase's Image Deposit Direct desktop scanning solution accelerates the check deposit process, allowing businesses to rapidly scan checks for deposit from any geographic location and transmit the images to one central account or multiple accounts. By obtaining an image of the check, Image Deposit Direct gives clients the option of using ARC conversion to streamline the deposit process. In addition to reducing the costs associated with traditional paper check processing, using ARC can result in faster deposits and quicker availability of funds for clients.

ARC conversion has had a tremendous impact on the processing of consumer checks. In September 2006, its reach will extend to business-to-business checks when NACHA rules will allow business checks to be converted to ARC. JPMorgan Chase remains poised to bring all the advantages of these leading edge solutions to its business clients in order to help them to succeed.

For more information about JPMorgan Chase's ACH services and solutions, please go to www.jpmorganchase.com/visit/pr/arc.

About JPMorgan Chase Treasury Services 

The Treasury Services business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, JPMorgan Chase Treasury Services is the world's largest provider of treasury management services. More information can be found at www.jpmorganchase.com/ts.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.