J.P. Morgan Chase Capital X Quarterly Distribution

Business Wire, April 16, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--April 16, 2002

J.P. Morgan Chase & Co. and J.P. Morgan Chase Capital X, a Delaware business trust subsidiary of J.P. Morgan Chase & Co., today announced that a quarterly distribution on the outstanding 7.00% Capital Securities, Series J (Liquidation amount $25 per Capital Security), of J.P. Morgan Chase Capital X will be paid on May 15, 2002 in the amount of $0.510417 per Capital Security. The distribution will be paid to holders of record at the close of business on May 14, 2002.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $694 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the internet at www.jpmorganchase.com.