JPMorgan Launches CMBS Brand in 2005.

NEW YORK -- JPMorgan, one of the leaders in the commercial mortgage-backed securities (CMBS) market in North America, will be launching a new brand off its shelf in 2005. The new brand, "LDP", signifying "large diverse pools", will encompass transactions that engender size, diversity and liquidity, said JPMorgan CMBS co-heads Steven Z. Schwartz and Brian J. Baker.

Each LDP transaction is expected to be at least $2 billion in size and will have a consistent core group of partners, although the exact mix of partners may vary from deal to deal. The first transaction (JPMCC 2005-LDP1) is expected to come to market in late February with subsequent deals following on a quarterly basis.

Partners in the initial transaction, expected to be approximately $3 billion in size, include Nomura Credit and Capital, Inc., LaSalle Bank N.A., Eurohypo AG, and PNC Bank N.A. Other high-quality partners are likely to participate in future deals. JPMorgan expects to contribute approximately $1 billion in every deal issued under the LND brand.

LDP joins another CMBS brand distributed by JPMorgan with CIBC, Inc. known as "CIBC." JPMorgan did $11 billion in CMBS transactions off its shelf in 2004.

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.