July 1, 2005 -- JPMorgan Chase & Co. and Chase Capital VIII have announced that Chase Capital VIII (NYSE: CCB) will redeem on July 31, 2005, all of the outstanding shares of Chase Capital VIII's $250,000,000 8.25% Capital Securities, Series H (CUSIP 16147R209) due July 15, 2030, at a redemption price equal to the aggregate Liquidation Amount of the Series H Securities plus accumulated and unpaid distributions thereon to the date of redemption. On the Redemption Date, distributions on the Series H Securities will cease to accrue. Payment will be made on August 1, 2005, only upon presentation and surrender of the Series H Securities to The Bank of New York as Paying Agent, for cancellation.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Chase Capital VII, 8.25% Capital Securities, Series H, liquidation amount $25 per share, guaranteed by The Chase Manhattan Corp., now part of JPMorgan Chase & Co. (NYSE: JPM), redeemable at the issuer's option on or after 7/31/2005 at $25 per share plus accrued and unpaid dividends, maturing 7/15/2030, distributions of 8.25% ($2.0625) are paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8.254% Junior Subordinated Deferrable Interest Debentures, Series H due 7/15/2030 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	8.25% $2.0625	$25.00 $25.00	Called for 7/31/2005 7/15/2030	A1 A- 6/16/2005	1/31, 4/30, 7/31 & 10/31 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Address:   270 Park Avenue, New York, NY 10017
Main Phone Number	212-270-6000
Fax Number	212-752-4823
Investor Contact   Julie Bates	212-270-7318
Toll Free Phone Number	866-576-3228

CEO - William B. Harrison, Jr.

COO - James Dimon

CFO - Michael J. Cavanagh