JPMorgan Chase Declares Preferred Stock Dividends

Business Wire, Nov 18, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 18, 2003

J.P. Morgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on the outstanding shares of each of the following preferred stock issues:

-- Adjustable Rate Cumulative Preferred Stock, Series A - $1.25

per share

-- Adjustable Rate Cumulative Preferred Stock, Series L - $1.1250

per share

-- Adjustable Rate Cumulative Preferred Stock, Series N -

$0.28125000 per share

-- Fixed/Adjustable Rate Noncumulative Preferred Stock -$0.68250

per share

-- 6-5/8% Cumulative Preferred Stock - $8.28125 per share

(equivalent to $0.828125 per Depositary Share)

All of the above dividends are payable on December 31, 2003, to stockholders of record at the close of business on December 15, 2003.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $793 billion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, investment management, private banking and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers nationwide, and many of the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the internet at www.jpmorganchase.com.