NEW YORK, New York - JPMorgan Chase (NYSE:JPM), in collaboration with Aspen Institute's Initiative for Social Innovation through Business (Aspen ISIB), today announced the winners of the inaugural Walter V. Shipley Business Leadership Case Competition. The competition, open to first-year graduate business students from Columbia, NYU's Stern School of Business and the Wharton School (University of Pennsylvania), was named after Mr. Shipley who retired as Chairman of the Board of The Chase Manhattan Corporation and The Chase Manhattan Bank in December 1999. The competition honors Mr. Shipley, his leadership, and the undying commitment to ethics in the workplace that he demonstrated in his 43-year career at the bank.

"In establishing this competition that honors Walter's name and accomplishments in the area of business ethics, we had two goals in mind," said William B. Harrison, Jr., Chairman and CEO of JPMorgan Chase. "First, we wanted a program that gives the students a full appreciation of the social and ethical aspects of business decisions. This business case competition stimulates their thinking and supplements the classroom experience. Second, we wanted to pay tribute to Walter Shipley and his focus on ethics during his more than 17 years as Chairman and CEO," Mr. Harrison said. The competition will eventually be widened to include additional graduate schools of business.

Each of the participating schools conducted local competitions for the first-year MBA students. Teams of four to five students reviewed a specific business case scenario and were asked to make recommendations, taking into account the serious social and ethical dilemmas presented in the case. First-place teams from each school participated in the final round of the competition at the Waldorf Astoria Hotel in New York on April 10. A panel of judges, including Susan LaMonica, Senior VP, Human Resources, JPMorgan Chase; William H. Donaldson, co-founder of Donaldson, Lufkin & Jenrette; Dr. Mary Gentile, consultant and former faculty member at Harvard Business School; Dr. Donna Wood, professor of business administration at the Katz School of Business at the University of Pittsburgh; and Walter Shipley, selected the team from NYU's Stern School of Business as the overall winner. The team received a trophy and will equally share a total of $20,000 in scholarship money.

"We worked extremely hard on this business case, realizing that there were no absolutely right or wrong answers," said Gopal Tampi, captain of the Stern team. "Our initial thought was to approach this primarily from a financial perspective. We quickly learned the value of having many different points of view and business perspectives in coming up with our proposal. All of the teams in this competition deserve recognition for their sophisticated processes and polished presentations." The $20,000 scholarship will be shared among Tampi and his teammates Bernardo Bichara Assad, Birlie S. Lau, Einar O. Olafsson, and Philip A. Shields.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $694 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients.

JPMorgan Chase & Co.

JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 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.

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