EFTA01511759

09 2004 FINANCIAL TRUST COMPANY INC Important JPMorgan Chase & Co. and Bank One Corporation merger news - The merger of the lead banks JPMorgan Chase Bank, New York, New York and Bank One, N.A., Chicago, Illinois, as well as Bank One, N.A., Columbus, Ohio is scheduled for November 13, 2004. The post merger lead bank will be called JPMorgan Chase Bank, N.A. US$ cash balances in your account that have been booked with JPMorgan Chase Bank may instead be booked with Chase Manhattan Bank USA , N.A., another wholly owned banking subsidary of JPMorgan Chase & Co. that is also FDIC insured. This change will not impact your current mutual fund sweep selection. All products and services related to your account will otherwise remain unchanged. Gift Processing The holiday season will soon be here. If you plan to make securities gifts this year, please notify us before December 1, 2004 to allow sufficient time to process your request and meet the year-end deadline. Confidential J.P. Morgan Portfolios September I - September 30, 2004 JPMorgan Private Bank Page 1 of 16 Table of Contents Account Summary Asset Account Portfolio Margin Account Portfolio 000000 000000 0000 000 000000000 =COO FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS #83 ST THOMAS 00802 US VIRGIN ISLDS Page 2 JPMCB 3 JPMSI 14 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00037592 SDNY_GM_00306790 EFTA01511759