REG-JP Morgan Chase JPMorgan Chase Announces Completion of Internal Restructuring Transactions Related to Bear Stearns Acquisition

JPMorgan Chase Announces Completion of Internal Restructuring Transactions Related to Bear Stearns Acquisition

NEW YORK--(Business Wire)--

JPMorgan Chase & Co. (NYSE: JPM) announced today that it completed its
previously announced internal restructuring transactions related to the
acquisition of The Bear Stearns Companies LLC (formerly known as The Bear
Stearns Companies Inc.). On July 31, 2008, in connection with the transfer to
JPMorgan Chase of Bear, Stearns & Co. Inc., Bear Stearns' broker dealer,
JPMorgan Chase assumed all of Bear Stearns' then-outstanding SEC-registered U.S.
debt securities and Bear Stearns' obligations relating to trust preferred
securities. The SEC-registered U.S. debt securities and obligations relating to
the trust preferred securities were previously guaranteed by JPMorgan Chase on
July 15, 2008, as an initial step in the restructuring transactions. On July 31,
2008, JPMorgan Chase also (1) assumed certain of Bear Stearns' then-outstanding
foreign debt securities and certain of Bear Stearns' guarantees of
then-outstanding foreign debt securities issued by subsidiaries of Bear Stearns,
in each case, in accordance with the agreements and indentures governing these
securities and (2) guaranteed Bear Stearns obligations under Bear Stearns' U.S.
$30.0 billion Euro Medium Term Note Programme and Bear Stearns' U.S. $4.0
billion Euro Note Issuance Programme.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $1.8 trillion and operations in more than 60 countries. The firm
is a leader in investment banking, financial services for consumers, small
business and commercial banking, financial transaction processing, asset
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.

JPMorgan Chase & Co.
Media:
Brian Marchiony, 212-270-2596
brian.j.marchiony@jpmorgan.com
or
Investors:
Julia Bates, 212-270-7325
julia.b.bates@jpmorgan.com

JP Morgan Chase

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