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Press Release
Dimon, Bollinger to Join New York Fed Board of Directors, Nooyi Reelected to Second Term
November 20, 2006

NEW YORK – Jamie Dimon, president and chief executive officer of JPMorgan Chase, has been elected a class A director of the Federal Reserve Bank of New York for a three-year term beginning January 2007.

Lee C. Bollinger, president of Columbia University has been appointed to the board of the Federal Reserve Bank of New York as a class C director for a three-year term beginning January 2007.

Indra K. Nooyi, president and chief executive officer of PepsiCo, Inc. has been reelected a class B director of the New York Fed for a three-year term beginning January 2007. She has been serving as a class B director since March 2006.

Mr. Dimon has been chief executive officer of JPMorgan Chase since December 2005, prior to which he served as president and chief operating officer since July 2004. JP Morgan Chase last month said he is also expected to be named chairman at the end of the year, when the current chairman retires. He was chairman and chief executive officer of Bank One Corporation from March 2000 until July 2004 when Bank One merged with JP Morgan Chase. Mr. Dimon was president of Citigroup, Inc. and chairman and co-chief executive officer of Salomon Smith Barney Holdings, Inc. from October 1998 until November 1998 and president and chief operating officer of Travelers Group, as well as holding executive positions with Travelers’ subsidiaries Smith Barney, Inc. and Salomon Smith Barney Holdings, Inc., from November 1993 until October 1998. He has been a director of JPMorgan Chase or a predecessor institution since 2000.

Mr. Dimon is a director of The College Fund/UNCF and serves on the board of directors of The National Center on Addiction and Substance Abuse, the University of Chicago and Harvard Business School and is on the board of trustees of New York University School of Medicine.

Mr. Dimon is a graduate of Tufts University and received his M.B.A. from Harvard Business School.

Lee C. Bollinger is president of Columbia University and a member of the faculty of the Law School. He joined Columbia in 2002. Previously, President Bollinger served as the twelfth president of the University of Michigan, a post he assumed in 1996. He held the position of provost of Dartmouth College and professor of government for two years prior. In 1987 he was named the dean of the University of Michigan Law School, a position he held for seven years. President Bollinger joined the faculty of the University of Michigan Law School in 1973, after serving as law clerk for Judge Wilfred Feinberg on the United States Court of Appeals for the Second Circuit and United States Supreme Court Chief Justice Warren Burger.

President Bollinger is a fellow of the American Academy of Arts and Sciences and a member of the American Philosophical Society. He serves on the board of the Kresge Foundation and as a governor on the board of the Royal Shakespeare Company of Great Britain.

A graduate of the University of Oregon and Columbia Law School, where he was an articles editor of the Law Review, he has authored a number of books and articles about the First Amendment and freedom of speech, the subject of a course he continues to teach for undergraduates at Columbia.

Ms. Nooyi is president and chief executive officer for PepsiCo, Inc. Prior to assuming her current position in October 2006, Ms. Nooyi was president and chief financial officer. Ms. Nooyi is a member of the PepsiCo board of directors.

Prior to joining PepsiCo in 1994, Ms. Nooyi was senior vice president of strategy and strategic marketing for Asea Brown Boveri, and vice president and director of corporate strategy and planning at Motorola.

Ms. Nooyi also serves as a member of the boards of Motorola, the International Rescue Committee and Lincoln Center for the Performing Arts in New York City. She is a Successor Fellow of Yale Corporation and on the advisory boards of Yale School of Management, the board of trustees of Eisenhower Fellowships and Asia Society and a member of the Executive Committee of the Trilateral Commission.

Ms. Nooyi received her B.S. from Madras Christian College in India, an M.B.A. from the Indian Institute of Management in Calcutta and a master’s degree in public and private management from Yale University.

The board of directors of the Federal Reserve Bank of New York consists of nine members, three of whom are appointed by the Board of Governors of the Federal Reserve Systems as class C directors. The remaining six (three class A and three class B directors) are elected by member banks in the Second Federal Reserve District. Class A directors are drawn from among the banking community. Class B & C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers.

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