UNITED\ue000 STATES
SECURITIES\ue000 AND\ue000 EXCHANGE\ue000 COMMISSION
Washington,\ue000 D.C.\ue000 20549

CURRENT\ue000 REPORT
PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF
THE\ue000 SECURITIES\ue000 EXCHANGE\ue000 ACT\ue000 OF\ue000 1934

\u25a1\ue000 Written\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 425\ue000 under\ue000 the\ue000 Securities\ue000 Act\ue000 (17\ue000 CFR\ue000 230.425)
\u25a1\ue000 Soliciting\ue000 material\ue000 pursuant\ue000 to\ue000 Rule\ue000 14a-12\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14a-12)
\u25a1\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 14d-2(b)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14d-2(b))
\u25a1\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 13e-4(c)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.13e-4(c))

On\ue000 February\ue000 23,\ue000 2009,\ue000 JPMorgan\ue000 Chase\ue000 &\ue000 Co.\ue000 issued\ue000 a\ue000 press\ue000 release\ue000 announcing\ue000 that\ue000 the\ue000 Board\ue000 of\ue000 Directors\ue000 has\ue000 reduced
the\ue000 company's\ue000 quarterly\ue000 common\ue000 stock\ue000 dividend\ue000 from\ue000 $0.38\ue000 to\ue000 $0.05\ue000 per\ue000 share,\ue000 effective\ue000 for\ue000 the\ue000 dividend\ue000 payable\ue000 April\ue000 30,
2009,\ue000 to\ue000 shareholders\ue000 of\ue000 record\ue000 on\ue000 April\ue000 6,\ue000 2009.\ue000 A\ue000 copy\ue000 of\ue000 the\ue000 press\ue000 release\ue000 is\ue000 attached\ue000 as\ue000 Exhibit\ue000 99.1\ue000 hereto\ue000 and\ue000 is
incorporated\ue000 by\ue000 reference\ue000 herein.

New\ue000 York\ue000 -\ue000 February\ue000 23,\ue000 2009\ue000 --\ue000 JPMorgan\ue000 Chase\ue000 today\ue000 announced\ue000 that\ue000 the\ue000 Board\ue000 of\ue000 Directors\ue000 has\ue000 reduced\ue000 the
company's\ue000 quarterly\ue000 common\ue000 stock\ue000 dividend\ue000 from\ue000 $0.38\ue000 to\ue000 $0.05\ue000 per\ue000 share,\ue000 effective\ue000 for\ue000 the\ue000 dividend\ue000 payable\ue000 April\ue000 30,
2009,\ue000 to\ue000 shareholders\ue000 of\ue000 record\ue000 on\ue000 April\ue000 6,\ue000 2009.\ue000 The\ue000 Board\ue000 anticipates\ue000 maintaining\ue000 this\ue000 level\ue000 for\ue000 the\ue000 time\ue000 being.\ue000 This\ue000 action
will\ue000 enable\ue000 the\ue000 company\ue000 to\ue000 retain\ue000 an\ue000 additional\ue000 $5\ue000 billion\ue000 in\ue000 common\ue000 equity\ue000 per\ue000 year.

"While\ue000 we\ue000 recognize\ue000 our\ue000 tremendous\ue000 obligation\ue000 to\ue000 shareholders\ue000 to\ue000 maintain\ue000 dividend\ue000 levels,\ue000 we\ue000 also\ue000 understand\ue000 that
extraordinary\ue000 times\ue000 require\ue000 extraordinary\ue000 measures.\ue000 Our\ue000 action\ue000 today\ue000 is\ue000 being\ue000 done\ue000 as\ue000 a\ue000 strong\ue000 precautionary\ue000 measure\ue000 to\ue000 help
ensure\ue000 that\ue000 our\ue000 fortress\ue000 balance\ue000 sheet\ue000 remains\ue000 intact\ue000 -\ue000 even\ue000 if\ue000 conditions\ue000 worsen\ue000 significantly.\ue000 As\ue000 always,\ue000 our\ue000 highest\ue000 obligation
during\ue000 an\ue000 economic\ue000 crisis\ue000 is\ue000 to\ue000 keep\ue000 our\ue000 company\ue000 and\ue000 franchise\ue000 healthy,\ue000 vibrant\ue000 and\ue000 strong\ue000 for\ue000 the\ue000 future,"\ue000 said\ue000 Jamie\ue000 Dimon,
Chief\ue000 Executive\ue000 Officer.

"While\ue000 our\ue000 performance\ue000 and\ue000 capital\ue000 are\ue000 already\ue000 strong,\ue000 today's\ue000 action\ue000 provides\ue000 us\ue000 with\ue000 maximum\ue000 flexibility\ue000 to\ue000 protect\ue000 our
company\ue000 in\ue000 a\ue000 more\ue000 highly\ue000 stressed\ue000 environment\ue000 and\ue000 to\ue000 continue\ue000 to\ue000 build\ue000 and\ue000 invest\ue000 in\ue000 our\ue000 market-leading\ue000 businesses.\ue000 Today's
capital\ue000 action\ue000 is\ue000 not\ue000 directly\ue000 related\ue000 to\ue000 TARP.\ue000 Our\ue000 reason\ue000 for\ue000 accepting\ue000 TARP\ue000 capital\ue000 still\ue000 holds\ue000 -\ue000 namely\ue000 to\ue000 help\ue000 stabilize\ue000 the
banking\ue000 system\ue000 and\ue000 economy.\ue000 The\ue000 decision\ue000 to\ue000 retain\ue000 additional\ue000 common\ue000 equity\ue000 does,\ue000 however,\ue000 help\ue000 position\ue000 our\ue000 company\ue000 to
repay\ue000 TARP\ue000 as\ue000 soon\ue000 as\ue000 is\ue000 prudent\ue000 -\ue000 and\ue000 still\ue000 maintain\ue000 a\ue000 strong\ue000 capital\ue000 position.\ue000 Our\ue000 repayment\ue000 of\ue000 TARP\ue000 will\ue000 ultimately\ue000 be
worked\ue000 out\ue000 in\ue000 consultation\ue000 with\ue000 the\ue000 U.S.\ue000 Treasury\ue000 and\ue000 other\ue000 regulators,\ue000 and\ue000 in\ue000 consideration\ue000 of\ue000 the\ue000 best\ue000 interests\ue000 of\ue000 the
banking\ue000 system\ue000 overall,"\ue000 Dimon\ue000 added.

JPMorgan\ue000 Chase\ue000 &\ue000 Co.\ue000 will\ue000 host\ue000 a\ue000 conference\ue000 call\ue000 today,\ue000 Monday,\ue000 February\ue000 23,\ue000 2009\ue000 at\ue000 5:00\ue000 p.m.\ue000 (Eastern\ue000 Time).\ue000 The general\ue000 public\ue000 can\ue000 access\ue000 the\ue000 conference\ue000 call\ue000 by\ue000 dialing\ue000 the\ue000 following\ue000 numbers:\ue000 (866)\ue000 541-2724\ue000 or\ue000 (877)\ue000 368-8360\ue000 in\ue000 the U.S.\ue000 and\ue000 Canada;\ue000 (706)\ue000 634-7246\ue000 for\ue000 international\ue000 callers.\ue000 Please\ue000 dial\ue000 in\ue000 10\ue000 minutes\ue000 prior\ue000 to\ue000 the\ue000 start\ue000 of\ue000 call.\ue000 The\ue000 live\ue000 audio webcast\ue000 and\ue000 presentation\ue000 slides\ue000 will\ue000 be\ue000 available\ue000 on\ue000 http://investor.shareholder.com/jpmorganchase\ue000 under\ue000 Investor\ue000 Relations, Investor\ue000 Presentations.