JPMorgan Chase to Raise $5 Billion in Common Equity to Satisfy a Supervisory Condition for TARP Repayment Requiring Demonstrated Access to Equity Capital Markets

The Company Expects to Have Tier One Capital of Approximately $118 Billion or
9.3% and Tier One Common of Approximately $93 Billion or 7.3% at the End of the
Second Quarter

The Company Believes That It Has Met All Conditions and Will Fully Redeem the
$25 Billion of TARP Preferred Capital before the End of June

NEW YORK--(Business Wire)--
JPMorgan Chase & Co. (NYSE: JPM) announced today that it intends to raise $5
billion in common equity to satisfy a supervisory condition that the largest
bank holding companies redeeming TARP (Troubled Asset Relief Program) preferred
capital demonstrate access to the equity capital markets. While approval has not
been granted, the company believes that upon completion of this capital raise it
will have satisfied the criteria for fully redeeming the TARP preferred capital
and expects to do so before the end of June.

JPMorgan Chase expects to have Tier One Capital of approximately $118 billion or
9.3% and Tier One Common of approximately $93 billion or 7.3% at the end of the
second quarter, after the capital raise and the TARP preferred capital
redemption. The company also expects to maintain its extremely strong capital
ratios, even in the event of a more highly stressed environment over the next
two years.

JPMorgan Chase believes that redeeming the TARP preferred capital is in the best
interests of the country and the company, and that these funds can be used by
the Government for other critical purposes. JPMorgan Chase also reaffirms its
commitment to continued robust lending to consumers, small businesses,
non-profits, municipalities, corporations and others.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $2.1 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.

JPMorgan Chase will host a conference call today, June 1, 2009, at 5:15 p.m.
(Eastern Time). The general public can access the call by dialing (866) 541-2724
or (877) 368-8360 in the U.S. and Canada and (706) 634-7246 for international
participants. The live audio webcast, press release and presentation slides will
be available at the firm`s website, www.jpmorganchase.com, under Investor
Relations, Investor Presentations.

A replay of the conference call will be available beginning at approximately
8:00 p.m. on Monday, June 1, 2009, through midnight, Monday June 15, 2009, by
telephone at (800) 642-1687 (U.S. and Canada) or (706) 645-9291 (international);
use Conference ID 12932780. The replay will also be available via webcast on
www.jpmorganchase.com under Investor Relations, Investor Presentations.

No offer to sell or solicitation of an offer to buy such common shares shall be
made in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful.

JPMorgan Chase has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates.Before you invest,
you should read the prospectus in that registration statement, the applicable
prospectus supplement and other documents JPMorgan Chase has filed with the SEC
for more complete information about JPMorgan Chase and this offering.You may get
these documents for free by visiting EDGAR on the SEC web site at
www.sec.gov.Alternatively, JPMorgan Chase & Co. or J.P. Morgan Securities Inc.
will arrange to send to you the prospectus if you request it by calling
toll-free 1-866-430-0686.

This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are based upon
the current beliefs and expectations of JPMorgan Chase`s management and are
subject to significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements. Factors that could cause
JPMorgan Chase`s actual results to differ materially from those described in the
forward-looking statements can be found in JPMorgan Chase`s Quarterly Report on
Form 10-Q for the quarter ended March 31, 2009 and its Annual Report on Form
10-K for the year ended December 31, 2008, each of which has been filed with the
Securities and Exchange Commission and is available on JPMorgan Chase`s website
(www.jpmorganchase.com) and on the Securities and Exchange Commission`s website
(www.sec.gov). JPMorgan Chase does not undertake to update the forward-looking
statements to reflect the impact of circumstances or events that may arise after
the date of the forward-looking statements.

JPMorgan Chase & Co.
Media:
Joseph Evangelisti, 212-270-7438
joseph.evangelisti@jpmchase.com
or
Investors:
Julia Bates, 212-270-7325
julia.b.bates@jpmchase.com

Copyright Business Wire 2009