# EXHIBIT 201
From: jes.staley@jpmorgan.com peLstaleyEripmorganrom) Sent: 1/4/2007 1:58:32 AM To: ann.borowiec@jpmorgan.com; mary.erdoes@jpmorgan.com Subject: Re: Epstein

Ann and Mary,

I talked to Jeffrey about this today. Its complicated. Perhaps we can discuss tomorrow.

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Ann Borowiec

From: Ann Borowiec Sent: 01/03/2007 05:36 PM To: Jes Staley Subject: Epstein

Happy new year! Jeffrey called barry on tucsday with scrgi in the room to ask some technical questions on the trust. I am assuming that we have passed the interview and we will officially move over the relationship to our team on the systems. Let me know if you have any other color. Barry berger is a machine with new business...I want to put him up for MD this spring. Thx ann

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