Chase Capital VIII Redemption

Business Wire, July 1, 2005

NEW YORK -- JPMorgan Chase & Co. and Chase Capital VIII, a Delaware business trust subsidiary of JPMorgan Chase & Co., have announced that Chase Capital VIII (NYSE: CCB) will redeem on July 31, 2005 (the "Redemption Date"), all of the outstanding shares of Chase Capital VIII's $250,000,000 8.25% Capital Securities, Series H (CUSIP 16147R209) due July 15, 2030 (the "Series H Securities"), at a redemption price equal to the aggregate Liquidation Amount of the Series H Securities plus accumulated and unpaid distributions thereon to the date of redemption.

On the Redemption Date, distributions on the Series H Securities will cease to accrue. Payment will be made on August 1, 2005, only upon presentation and surrender of the Series H Securities to The Bank of New York as Paying Agent, for cancellation.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.2 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 & Co. 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 the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.