J.P. Morgan Signs on for DTCC's Loan/SERV to Automate Syndicated Loan Services

NEW YORK--(Business Wire)--
The Depository Trust & Clearing Corporation (DTCC) announced today
that J.P. Morgan, the largest global agent bank in the syndicated loan
market, has joined a group of leading banks to support DTCC's
Loan/SERV and will begin using the new suite of services to automate
and streamline the processing of their syndicated commercial loans.

"This is an opportunity - for the very first time - to bring major
new efficiencies and transparency to the syndicated loan market," said
Eric Rosen, managing director at J.P. Morgan. "Loan/SERV will help
solve many of the problems associated with the processing and tracking
of syndicated loans, and we look forward to working with DTCC on this
major undertaking."

"J.P. Morgan is one of the most significant global loan market
players, and we're thrilled to have them on board with Loan/SERV,"
said Chris Childs, DTCC vice president, Global Loans Product
Management. "Their support of Loan/SERV is invaluable and will help as
we move forward in developing and introducing a broad range of
automated and integrated services for both the primary and secondary
markets of syndicated loans."

DTCC has been working with a group of global banks for support and
guidance in the development and launch of Loan/SERV products on a
global basis. These banks are The Bank of New York Mellon, Barclays
Capital, Citi, Deutsche Bank and The Royal Bank of Scotland. With J.P.
Morgan, these banks historically account for more than a third of the
global syndicated loan market, according to Childs.

DTCC also works with a European consultation group, which includes
12 European agent banks, five fund managers and three major
custodian/trustees, to assist with the European development and
deployment of Loan/SERV later in 2008.

"Our focus is on providing a global solution that works in Europe,
North American, Asia and other markets. We need a global solution
because our customers are global," says Childs.

DTCC launched the first of its Loan/SERV products - the Loan/SERV
Reconciliation Service - in September 2008 with Citi when more than
6,600 lender of record positions were posted for reconciliation. This
is the first service to automate the processing of syndicated
commercial loans by enabling agent banks and lenders to view and
reconcile loan positions on a daily basis.

A second service - DTCC's Loan/SERV Messaging Service - will
provide a safe, secure and automated network for the transmission,
receipt and online storage of industry standard loan messages, such as
agent notices. The service, which will be launched later this year,
brings standardized loan-servicing language to the marketplace by
adopting FpML(TM) (Financial products Markup Language), the e-commerce
electronic language with widely-proven success in over-the-counter
derivatives trading. (FpML is a trademark of the International Swaps
and Derivatives Association.)

The standardized messages are being developed by the industry
through The Loan Syndications and Trading Association (LSTA) and The
Loan Market Association (LMA). For maximum flexibility, Loan/SERV also
allows users to view FpML messages via a web-based interface. The
Loan/SERV Messaging Service will allow for message routing, workflow
management, processing and online storage. The service also allows
market participants who do not wish to receive messages directly into
their processing systems to manage their messages online via a message
hub.

About J.P. Morgan

J.P. Morgan is the investment banking arm of JPMorgan Chase & Co.
(NYSE: JPM), a leading global financial services firm with assets of
$2.3 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 & Co. serves millions of consumers
in the United States and many of the world's most prominent corporate,
institutional and government clients under its J.P. Morgan, Chase, and
WaMu brands. Information about J.P. Morgan is available at
www.jpmorgan.com.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its
subsidiaries, provides clearance, settlement and information services
for equities, corporate and municipal bonds, government and
mortgage-backed securities, money market instruments and
over-the-counter derivatives. In addition, DTCC is a leading processor
of mutual funds and insurance transactions, linking funds and carriers
with financial firms and third parties who market these products.
DTCC's depository provides custody and asset servicing for more than
3.5 million securities issues from the United States and 110 other
countries and territories, valued at $40 trillion. Last year, DTCC
settled more than $1.8 quadrillion in securities transactions. DTCC
has operating facilities in multiple locations in the United States
and overseas.

DTCC
Edward C. Kelleher, 212-855-5301
eckelleher@dtcc.com
or
J.P. Morgan
Brian Marchiony, 212-270-2596
brian.j.marchiony@jpmorgan.com

Copyright Business Wire 2008