Moen Achieves Cash Management Success Leveraging Powerful Integration of JPMorgan Chase Travel Card and Gelco Expense Management Solution.

North America's Largest Faucet Manufacturer Saves Time and Money with Improved Visibility, Spend Control and Auditing Capabilities

MINNEAPOLIS & NEW YORK -- Moen Incorporated (NYSE:FO), one of the world's largest manufacturers of faucets, sinks, showering products and bath accessories has seen significant cash management successes as a result of integrating their JPMorgan Chase Travel Card program with their expense management solution from Gelco Expense Management. The integrated solution brings greater spend control, visibility and flexibility to the financial managers at Moen, while delivering greater ease of use to the company's 900 business travelers. As a result, card utilization has increased to 94 percent, a rate significantly higher than the industry average.

Moen's finance department manages more than 1,000 processed expense reports per month. The expense management solution combines JPMorgan Chase's corporate travel and entertainment card offering and online PaymentNet[TM] reporting system with Gelco's comprehensive expense management solution.

"Gelco and JPMorgan Chase each offer excellent solutions that help us to better manage corporate finances, but together they are unbelievably powerful. Integration of these solutions has helped us meet our business goals with greater efficiency and accuracy," said Rhonda Baracskai, Manager, Financial Services for Moen Incorporated. "In addition, our business travelers have never been more satisfied."

Since integrating their corporate travel card and expense management program, Moen has reported improvements in process efficiencies, cost and time savings. Among the company's achievements:

* Ease of Use: Creating and managing travel expense reports is now quicker and easier for Moen employees and financial administrators. Gelco's unique CardLink capabilities upload JPMorgan Chase Travel Card transaction data into Gelco's expense management solution as purchases occur. Expense reports are then automatically created for each employee. The transaction data automatically falls into predetermined expense categories that are based on Moen's business rules, resulting in less time needed to file expenses.

* Cost savings: Out-of-pocket spending has decreased dramatically and card utilization has increased to 94 percent, a rate significantly higher than the industry average of approximately 70 percent of travel expenses typically captured on a company's travel card program. Moen also has been able to better manage costs as a result of Gelco's ability to pay JPMorgan Chase directly, on Moen's behalf. With this capability Moen can take advantage of the float on the card, more fully leveraging working capital.

* Greater control and time savings: As JPMorgan Chase's card transaction data is visible within Gelco's expense management solution, Moen can quickly identify questionable charges and misuse of the card. Travelers cannot hide transactions as all unsubmitted credits are automatically reported, as are outstanding transactions that need to be reconciled. This increased control has enabled Moen to better manage outstanding credits and virtually eliminate late fees. As a result, Moen has recaptured the two full business days previously required to reconcile past due charges and late fees.

* Increased visibility: Detailed reporting capabilities from Gelco and JPMorgan Chase enable Moen to respond quickly to corporate requests for detailed insight into spend data by vendor, division or category. Improved visibility also has resulted in greater negotiating power with suppliers.

* Greater flexibility: The company's Visa[R] branded card is accepted at more U.S. and international locations than Moen's previous corporate card, providing employees the ability to use their corporate card with more merchants when traveling. The solution also provides greater flexibility on a per card basis in terms of accommodating quick increases in spending limits, when approved by Moen management.

"As travel and entertainment expenses usually account for an organization's second largest indirect cost, proper management of this spending can have a significant effect on the bottom line," said Frank Dombroski, Vice President, Commercial Card Solutions, JPMorgan Chase. "By having greater insight into their spending, using common systems to manage all activity and encouraging the use of their corporate card, Moen has been able to drive efficiency, cut costs and improve decision-making within a short period of time."

To recognize Moen for its achievements in optimizing corporate card utilization, Gelco and JPMorgan Chase recently presented the company with its Card Optimizer award at Gelco's annual Perspectives Client Conference. "We are proud to recognize Moen with the Card Optimizer Award because of their continued success in leveraging Gelco's solution to drive real results for the organization," said Brian Provost, Chief Operating Officer, Gelco Expense Management. "Moen has been a client since 1990 and is a true innovator - their dedication to improving the expense management process is a sign of focus on their core businesses and commitment to sound business practices."

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.

About Gelco Expense Management

Gelco Expense Management, Eden Prairie, Minn., is a global full-service provider of Services On Demand for expense management. A division of Gelco Information Network, Gelco Expense Management is the largest provider of global expense management and reimbursement solutions processing over 100,000 transactions and making payments of $20 million per day. For more information about Gelco Expense Management, please visit the company's web site at www.gelcoexpense.com