Press Release

Approval of the Application by JPMorgan Chase Bank

Thursday, May 29, 2003
NEW YORK--The Federal Reserve Bank of New York Thursday approved the application by JPMorgan Chase Bank, New York, New York, to assume certain trust funds of Citizens Bank of Connecticut, New London, Connecticut, Citizens Bank of Massachusetts, Boston, Massachusetts, Citizens Bank New Hampshire, Manchester, New Hampshire, Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania and Citizens Bank of Rhode Island, Providence, Rhode Island.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.