JPMorgan Chase and GE Commercial Finance Offer Global Accounts Receivable Purchasing Program

JPMorgan Chase and GE Commercial Finance Offer Global Accounts Receivable Purchasing Program

GE Commercial Finance Capability Positions JPMorgan Chase’s Trade and Logistics Offering as Most Comprehensive in Trade Bank Field

New York, October 17, 2007 – JPMorgan Chase and GE Commercial Finance today announced that they have formed an alliance to offer global accounts receivable purchasing solutions to JPMorgan Chase’s trade finance customers based in United States, Canada, Mexico and Latin America. By adding GE Commercial Finance’s cross-border accounts receivable purchasing solutions to its portfolio, the alliance further positions JPMorgan Chase’s trade and logistics offering as the most comprehensive in the trade bank field. The firm already offers a wide array of trade solutions for importers and exporters and is unique among banks in its ability to offer integrated supply chain and logistics management products and services.

Through a referral program, JPMorgan Chase Global Trade Services, part of the firm’s Treasury Services business, now can offer its clients GE Commercial Finance’s market leading cross-border accounts receivable purchasing solutions. By selling accounts receivable on a non-recourse basis, clients can increase liquidity and eliminate payment risk. GE Commercial Finance purchases multiple obligor receivables portfolios on a one time or revolving basis.

Mid-to-large corporations accessing the Global Accounts Receivable Purchasing Program can benefit from accelerating their cash conversion cycle, reducing Days Sales Outstanding (DSO), transferring payment risk in developed and emerging markets, and ultimately increasing control over their working capital requirements without affecting their debt ratio.

“To fulfill the immediate needs of our clients and further deepen our trade and logistics offering, JPMorgan Chase is partnering with industry expert GE Commercial Finance to address the significant market demand for receivables financing,” said Bruce Proctor, senior vice president, Global Trade Services product executive, JPMorgan Chase. “The alliance enables us to further expand into supply chain management and financing and strengthen the unique position we hold in the trade arena.”

“GE Commercial Finance’s market-leading cross-border structured trade finance solutions are built on world class risk management and global infrastructure. As a global provider, we bring local knowledge, deep industrial expertise, and extensive compliance and regulatory knowledge,” said Paul DeDomenico, senior managing director, working capital solutions, GE Commercial Finance. “Through this alliance, GE Commercial Finance will generate additional growth and leverage our coverage and scale.”

About JPMorgan Chase Treasury Services

The Treasury Services business of JPMorgan Chase 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 a presence in 36 countries, JPMorgan Chase Treasury Services is the world’s largest provider of treasury management services. More information can be found at www.jpmorganchase.com/ts.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 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.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s website at www.ge.com.

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