JP Morgan Says Will Consider Strategic Alternatives for Physical Commodities Unit

JPMorgan Chase & Co. (NYSE: JPM) announced today that it has concluded aninternal review and is pursuing strategic alternatives for its physicalcommodities business, including its remaining holdings of commodities assetsand its physical trading operations.To maximize value, the firm will explore a full range of options over timeincluding, but not limited to: a sale, spin off or strategic partnership ofits physical commodities business. During the process, the firm will continueto run its physical commodities business as a going concern and fully supportongoing client activities.J.P. Morgan has built a leading commodities franchise in recent years,achieving a top-ranked revenue position. The business has been consistentlynamed as a top client business in Greenwich Associates' annual client surveysand was recently named Derivatives House of the Year by Energy Risk magazine.Following the internal review, J.P. Morgan has also reaffirmed that it willremain fully committed to its traditional banking activities in the commoditymarkets, including financial derivatives and the vaulting and trading ofprecious metals. The firm will continue to make markets, provide liquidity andoffer advice to global companies and institutions that have, for years, reliedon J.P. Morgan's global risk management expertise.