Chase Capital V Redemption

Business Wire, Sept 30, 2004

NEW YORK -- JPMorgan Chase & Co. ("JPMorgan Chase") and Chase Capital V, a Delaware business trust subsidiary of JPMorgan Chase, have announced that Chase Capital V (NYSE: CBF) will redeem on November 1, 2004 (the "Redemption Date"), all of the outstanding shares of Chase Capital V's $200,000,000 principal amount 7.03% Capital Securities, Series E (CUSIP 161479209) due March 31, 2028 (the "Series E Securities), at a redemption price equal to 100% of the aggregate Liquidation Amount of the Series E Securities plus accumulated and unpaid distributions thereon to the date of redemption.

On the Redemption Date, the Liquidation Amount and accumulated and unpaid distributions will become due and payable upon the Series E Securities and distributions on the Series E Securities will cease to accrue. Payment will be made only upon presentation and surrender of the Series E Securities to The Bank of New York, as Paying Agent, for cancellation.

JPMorgan Chase 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 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 theUnited States 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.