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Moore Named President of Chase Education Finance

INDIANAPOLIS, June 16, 2005 - Chase Education Finance announced the selection of 25-year industry veteran Robert D. Moore as president of JPMorgan Chase & Co.'s (NYSE: JPM) student finance business. He will lead the largest U.S. student lender, serving 2,500 schools and universities across the country through both the Chase and Bank One brands.

In the late 1990s, Moore served as president of Bank One's Education Finance Group and grew the business into the industry's Number 1 loan originator.

"Bob's experience as a leader and strategist will help us continue to grow this important business," said Brad Conner, who oversees Chase's national home equity and education lending organizations. "Bob understands what schools and students need, and will make sure that we deliver it to them."

Over the last year, Chase has taken back control of its sales force by ending outsourcing and joint venture relationships. Now, Moore will manage the day-to-day functions of 125 sales, marketing and support professionals.

In 2004, Chase Education Finance was the largest originator of FFELP student loans, originating more than $6.4 billion in loans.

"I am excited to return to the student lending business because we can help so many students achieve their educational goals," said Moore, who will be based in Indianapolis. "We need to continue to find creative ways to help students face the rising costs of higher education."

Moore began his career in 1979 with National Guarantor USA Funds. He was a founding board member of USA Group, and served as executive vice president and chief marketing officer. In 1991, he became president and chief executive officer of USA Group Enterprises, Inc., where he developed and acquired six for-profit education-related businesses. He served as president of Bank One's Education Finance Group from 1996 through 1999, and has headed his his own private investment and real estate development business since 2001.

                         
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