JPM: JP Morgan Chase: JPMorgan Chase Donates Technology to KIPP NYC

  JPM: JP Morgan Chase: JPMorgan Chase Donates Technology to KIPP NYC

UK Regulatory Announcement

    Three racks of servers and storage will become the central technology
 infrastructure used by KIPP NYC school students, teachers and administrators

NEW YORK

Continuing its efforts to improve educational opportunities and its support of
KIPP (Knowledge is Power Program), JPMorgan Chase (NYSE:JPM) today donated
computer hardware estimated to be worth more than $500,000 to KIPP New York,
Inc.(KIPP NYC). The donated hardware – three racks of servers and storage –
will become a core part of the elementary, middle and high schools' technology
infrastructure network and dramatically improve their ability to fulfill and
expand their curricula. As KIPP NYC grows into an established, scalable
network that sets the pace for high-quality public charter education, the
organization will require a parallel evolution of its technology
infrastructure. The donation from JPMorgan Chase will catalyze that technology
evolution.

The donated hardware will support a wide range of KIPP’s programmatic and
operational needs. In the near term, the hardware will increase efficiencies
for the teachers and administrators at KIPP NYC's nine schools, and expand and
centralize data storage capabilities, as well as support more robust backups
and disaster recovery protocols. Over the long term, the hardware will enable
KIPP NYC to offer more classes to students in new disciplines, such as video
production and editing.

"This donation to KIPP continues our commitment to supporting education and
doing our part to help strengthen our communities," said Guy Chiarello, Chief
Information Officer, JPMorgan Chase & Co. "This new hardware will not only
enable KIPP to continue to provide quality education to students in New York
City, but it will bring new classes to the curriculum. We are pleased to make
this contribution to KIPP."

"This donation has the potential to address the schools' disaster and business
recovery needs, improve file storage and help move along educational solutions
the schools are working on, said Ed Laux, Managing Director for Technology at
KIPP. "We have limited resources internally — we're focused on the children.
But through this unique relationship that we've developed with JPMorgan Chase,
they've become an extension of our team.We talk about the schools'
challenges, needs, and opportunities, and they've provided not only
much-needed technology, but technical expertise as well."

Earlier this year, JPMorgan Chase provided several technological improvements
to KIPP NYC, configuring the schools' SharePoint software to enable teachers
and the administration to more efficiently create and search reports, which in
turn will help improve the quality of education they can provide to students.
The firm also collaborated with Syracuse University, whose Information
Technology students are helping to develop requirements and provide an
analysis for an Open Source Curriculum Platform (OSCP), which will allow KIPP
teachers to upload their documents, pictures, videos and other materials from
their curricula to a website that is accessible to other teachers in the
network. With the OSCP, educators will be able to perform various functions,
such as search and browse, add, update, and branch the curriculum.

JPMorgan Chase also recently provided financing to help KIPP expand its
network of schools in low-income communities in Bronx, N.Y.; Lynn, Mass.; and
Washington, DC. Through the New Markets Tax Credit program, the firm invested
over $38 million to help KIPP construct the first high school in New York
City, a middle and high school in Lynn, and a renovation and expansion of KIPP
DC. KIPP NYC College Prep in the Bronx will be KIPP's first high school
program in New York City. It will enroll up to 1,000 students. KIPP Academy
Lynn is a new middle and high school building that will house more than 40
classrooms in addition to a library, cafeteria, gymnasium and outdoor ball
field. JPMorgan Chase also facilitated a transformational renovation and
expansion of KIPP DC's Shaw campus that will eventually enroll approximately
1,000 preschoolers through 8^th graders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $2.3 trillion and operations worldwide. The firm is a leader in
investment banking, financial services for consumers and small businesses,
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 and Chase brands. Information about JPMorgan Chase & Co. is
available at www.jpmorganchase.com.

About KIPP NYC

KIPP NYC is a non-profit network of free, public charter schools that prepare
students for success in college and life. Founded in 1995 as a middle school,
KIPP Academy in the Bronx, KIPP NYC's goal is to graduate students with the
strength of character and academic abilities needed to succeed in life – and
in so doing, to prove what is possible in urban schools. Today, KIPP NYC
serves 2,916 students and 707 alumni through nine schools and its alumni
support program, KIPP Through College.

JPMorgan Chase & Co.
Jennifer Kim, 212-622-7068
jennifer.h.kim@jpmchase.com

Contact:

JP Morgan Chase
 
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