London, 5 May 2008 – J.P. Morgan today announced its GlobeClear business provides clearance services to support members of the London Stock Exchange’s electronic International Order Book (IOB), following the introduction of LCH.Clearnet as a central counterparty (CCP) for 50 of the most liquid securities traded on IOB.

On March 30, the first trading day with LCH.Clearnet acting as CCP for IOB trades, J.P. Morgan became one of the first general clearing members to enable its clients to trade through the new IOB clearing model.  J.P. Morgan’s GlobeClear business currently acts as a general clearing member for 11 clients that trade on the electronic IOB. J.P. Morgan’s GlobeClear business also supports a significant number of clients who trade IOB securities on a bilateral basis

As announced in December by the London Stock Exchange, LCH.Clearnet is now the central counterparty (CCP) for 50 of the most heavily traded Depositary Receipt securities accessible through IOB, which  used to settle directly between counterparties without a CCP. Other securities outside of the LSE’s list of fifty will continue to be cleared bilaterally.

Alex Dockx, global product executive of GlobeClear, said: “We are delighted to extend our clearing services to clients trading the CCP-eligible securities on the LSE’s International Order Book.  Despite the short timeframe for implementation, GlobeClear has successfully supported all its existing clients without any disruption to their trading activity. Our expertise and broad coverage of exchanges and CCPs across Europe provides clients with a single clearing solution, which can be rapidly extended for any new venues.”

About J.P. Morgan Worldwide Securities Services

J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue.  A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world.  It has $13.5 trillion in assets under custody and $3.7 trillion in funds under administration.  For more information, go to www.jpmorgan.com/visit/wss.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.