JPMorgan Chase Declares Common Stock and Preferred Stock Dividend

New York, December 9, 2008 - The Board of Directors of JPMorgan Chase & Co. (NYSE:JPM) today declared a quarterly dividend of 38 cents per share on the outstanding shares of the corporation's common stock. The dividend is payable on January 31, 2009, to stockholders of record at the close of business on January 6, 2009.

JPMorgan Chase & Co. also declared a dividend on the outstanding shares of each of the following preferred stock issues:

• 6.15% Cumulative Preferred Stock, Series E - $3.075 per share (equivalent to $0.76875 per Depositary Share)
  
• 5.72% Cumulative Preferred Stock, Series F - $2.86 per share (equivalent to $0.715 per Depositary Share)
  
• 5.49% Cumulative Preferred Stock, Series G - $2.745 per share (equivalent to $0.68625 per Depositary Share)

The dividends for the Preferred Stock Series E, F and G are payable on January 15, 2009, to stockholders of record at the close of business on December 31, 2008.

JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and 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, Chase, and Washington Mutual brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.