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JPM: JP Morgan Chase: JPMorgan Chase to Elect Linda Bammann and Michael Neal to Its Board of Directors

  JPM: JP Morgan Chase: JPMorgan Chase to Elect Linda Bammann and Michael Neal
  to Its Board of Directors

UK Regulatory Announcement

Company Also Announces Enhancements to Its Corporate Governance Principles and
              Establishes the Role of Lead Independent Director

NEW YORK

JPMorgan Chase & Co. (NYSE:JPM) announced today that its Board of
Directorsintends to elect Linda B. Bammann and Michael A. Neal as directors
of the company. Ms. Bammann is expected to be elected on September 16, while
Mr. Neal is expected to join the Board in January 2014, after he retires from
his current position.

Ms. Bammann has extensive experience in senior risk management roles, having
acted as Chief Risk Management Officer at Bank One Corporation from 2001 until
its acquisition by JPMorgan Chase, and as Deputy Head of Risk Management at
JPMorgan Chase before her retirement in 2005. Ms. Bammann also served as a
Director of The Federal Home Loan Mortgage Corporation (Freddie Mac) from late
2008, after it entered conservatorship, until July of this year, where she
served as the Chair of the board’s Business and Risk Committee. She was
earlieralso a Board Member of the Risk Management Association and Chair of
the Loan Syndications and Trading Association.

Mr. Neal, currently a Vice Chairman of General Electric Company, served as
Chairman and CEO of GE Capital until June of this year. He intends to retire
from GE at the end of 2013 and will join JPMorgan’s Board shortly thereafter.
Mr. Neal has a deep knowledge of global financial services and markets. He
joined GE in 1979 and moved into GE Capital eight years later. In his 26 years
with GE Capital he has held a number of senior operating positions, including
President and Chief Operating Officer of GE Capital and CEO of GE Commercial
Finance prior to being appointed Chairman and CEO of GE Capital in 2007.

“We are extremely fortunate that Linda Bammann and Mike Neal will be joining
JPMorgan Chase’s Board of Directors,” said Lee R. Raymond, the Board’s Lead
Independent Director. “Linda and Mike are proven leaders and will bring
outstanding risk, finance and management experience to our Board and to our
firm,” added Jamie Dimon, Chairman and CEO of the company. Ms. Bammann will
also join the Board’s Risk Policy Committee.

JPMorgan Chase has long maintained outstanding corporate governance practices
and today announced additional enhancements to its Corporate Governance
Principles, including the establishment of a Lead Independent Director role.
The Lead Independent Director’s responsibilities continue to include those
formerly carried by the Board’s Presiding Director, but will also include a
number of additions and changes to further strengthen and improve governance
practices. Lee R. Raymond, formerly Presiding Director, continues as Lead
Independent Director.

Specifically, the Lead Independent Director’s role includes a number of
important responsibilities and authorities, many of which codify existing best
practices of our Board:

  *Lead Independent Director will have authority to call for a Board meeting
    at any time, not just, as currently is the case, a meeting of the
    independent directors.
  *Lead Independent Director will preside over meetings when the CEO is
    conflicted, not just when the CEO is absent.
  *Lead Independent Director to approve the Board agenda for a meeting and
    may add agenda items.
  *Lead Independent Director to guide annual performance evaluation of
    Chairman and CEO.
  *Lead Independent Director to guide full Board consideration of CEO
    succession issues.
  *Lead Independent Director will facilitate communication between the
    company’s management and independent directors.
  *Lead Independent Director to meet one-on-one with the CEO after every
    regularly scheduled Board meeting.
  *Lead Independent Director will guide full Board consideration of
    compensation of CEO.
  *Lead Independent Director will guide annual self-assessment of full Board.

Other Board best practices include:

  *Board will no longer rotate the Lead Independent Director position on an
    annual basis.
  *Directors, including the Lead Independent Director, will be available for
    consultation with major shareholders and other constituencies where
    appropriate.
  *Executive sessions (without company management) will take place at every
    regularly scheduled Board meeting.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm
with assets of $2.4 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.

JPMorgan Chase & Co.
Investors:
Sarah Youngwood, 212-270-7325
or
Media:
Joseph Evangelisti, 212-270-7438

Contact:

JPMorgan Chase & Co.