SNL Financial Provides Additional Data on JPM's $60 Billion Bid for ONE

CHARLOTTESVILLE, VA. — SNL Financial has released a new table of the twenty-five largest U.S. banks reflecting J.P. Morgan Chase & Co.'s (NYSE: JPM) announcement today that it will acquire Bank One Corp. (NYSE: ONE) for a reported $60 billion.

SNL Financial's Director of Bank Research, John McCune noted that "J.P. Morgan will be able to take advantage of Bank One's strong life and annuity distribution channels, which it acquired in a recent transaction with Zurich Financial Services, and its cross selling capabilities of investment products and other services.

While this deal is likely to be dilutive to earnings, the top three banks will now each have over $900 billion in assets, perhaps raising the bar for future deals, as the others are left in a potential fight for survival. This, of course, will fuel speculation about who will be acquired next."

  Please click here (http://www.snl.com/press/20040114.pdf) for additional deal-related analysis and data including the twelve largest U.S. Bank deals since 1989 (as measured by total deal value at announcement), national and regional bank deal pricing information, comprehensive deposit market share data, a branch marketshare map, and a complete table of the twenty-five largest U.S. banks; or contact John McCune, Director of Banking Research at 434-951-7599 or email jmccune@snl.com.

About SNL Financial

SNL collects, standardizes and disseminates all relevant corporate, financial, market, and M&A data — plus news and analysis — for the Banking, Financial Services, Insurance, Real Estate, Energy and Media & Communications industries. For more information, visit www.SNL.com.