U.S. Department of the Interior Selects JPMorgan Chase for Charge Card Program

Business Wire, Feb 6, 2008

Award made under GSA SmartPay[R]2 Master Contract

NEW YORK -- The U.S. Department of the Interior (DOI) has selected JPMorgan Chase as its provider for integrated charge card services, the firm announced today. The contract award is part of the U.S. General Services Administration's (GSA) SmartPay[R]2 program, the largest government charge card program in the world.

Under the agreement, JPMorgan Chase will supply DOI with more than 63,000 integrated cards that combine purchasing, travel and fleet functionality. The firm will also issue another 25,000 fleet-only cards. The DOI charge volume on all these cards combined is projected to exceed $660 million a year and represents the largest single integrated card program in the public or private sector.

"We are delighted to be working with the U.S. Department of the Interior and intend to provide them with a superior level of service and innovative solutions designed to improve efficiencies, enhance internal controls and greatly maximize the financial returns from their card programs," said W. Stephen Kouns, executive project manager with JPMorgan Chase Federal Card Solutions.

The GSA SmartPay[R] program, implemented in 1998, handled more than $26 billion in sales and over 98 million transactions in 2006. The program is used by federal agencies and organizations to obtain purchase, travel, fleet and integrated charge card services.

JPMorgan Chase has been a GSA SmartPay[R] card provider since the original master contract, providing card services to public sector clients for over 20 years. The firm is also listed on multiple GSA Schedules, including: GSA Schedule 520 - Financial and Business Solutions (FABS), GSA Schedule 36 - Office Imaging and Document Solutions and GSA Schedule 874 - Mission Oriented Business Integrated Services (MOBIS). This allows federal agencies to contract directly with JPMorgan Chase for these services. JPMorgan Chase also provides treasury solutions to over 3,000 state governments and municipalities, helping them with tax processing and enterprise content management, electronic benefits transfer programs such as food stamp and Women Infant and Children (WIC) payments, disaster preparedness, child support payments, unemployment insurance, and license, fee and violations processing.

For more information about JPMorgan Chase's Federal Card Solutions, go to www.jpmorganchase.com/smartpay

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About JPMorgan Chase

The Treasury Services business of JPMorgan Chase (www.jpmorganchase.com/ts) is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, the business is one of the world's largest providers of treasury management services. JPMorgan Chase Treasury Services is a division of JPMorgan Chase Bank, N.A., member FDIC.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com