JPMorgan Chase To Boost Chicago Giving by $2 Million Annually; 25 Percent Increase Will Focus on Education, Economic Development and Culture Corporate Efforts.

CHICAGO -- JPMorgan Chase & Co. and its Bank One subsidiary pledged today to increase their Chicago philanthropy by $2 million - or 25 percent - annually.

"By increasing our annual giving in Chicago to $10 million, we are building on a 140-year history of supporting Chicago and its people," said William B. Harrison Jr., chairman and chief executive officer of the global financial services firm, who reinforced the firm's commitment at the Chicago Economics Club dinner Tuesday night. "We work to improve our communities by focusing primarily on education and financial literacy, economic development, and arts and culture."

Over the last five years, Bank One and JPMorgan Chase have contributed an average of $8 million annually to non-profit organizations in Chicago, ranging from neighborhood groups to downtown museums and from preschool programs to financial literacy efforts. Over the last decade, First Chicago, Bank One and now JPMorgan Chase have contributed more than $50 million here.

"We have been here for Chicago and its people, and we will continue to be here," said William M. Daley, Chairman of the Midwest for JPMorgan Chase, reflecting a history that started with The First National Bank of Chicago, which was chartered in 1863. "The additional $2 million will allow us to fund even more programs important to the community."

Some of the company's recent contributions to education, economic development and cultural programs in the Chicago area include grants to the following:

--Chicago Community Loan Fund - to provide low-cost, flexible financing to help nonprofit community development groups revitalize low- and moderate-income neighborhoods in metro Chicago;

--Center for Economic Progress Tax Project -- to help fund free tax services for low-income workers and to help them increase their income tax refunds by taking advantage of the Earned Income Tax Credit;

--WTTW-TV (PBS) -- to underwrite "Money Farm," the Emmy-nominated children's series that uses youth from local grade schools to provide 90-second lessons in money management to young children;

--Chicago Cultural Foundation -- to fund 100 percent of the costs for the three-day festival of free concerts, family activities and events for the grand opening of Millennium Park in downtown Chicago this summer, as well as funding the Chase Promenade at Millennium Park;

--Local theater companies -- to sponsor this summer's Steppenwolf Theatre production of Frankie and Johnny in the Claire de Lune, and this spring's Goodman Theatre production of Moonlight and Magnolias and the current Goodman production of Arthur Miller's Finishing the Picture;

--Several non-profit entrepreneurial programs that help transition under-employed and unemployed individuals into the workforce - to Seguin Services' Garden Center to help fund the employment of disabled adults who are unable to serve in other community employment; Deborah's Place to provide crafts-making skills and work experience to formerly homeless women through a social business venture called WomanCraft; and Little Black Pearl Workshop to teach entrepreneurship and money management skills to youth.

Bank One and JPMorgan Chase merged July 1, creating a global financial services firm with its U.S. consumer and commercial banking headquarters in Chicago. 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. 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.