Securities and Exchange Commission May 8, 2006 – Federal Register Recent Federal Regulation Documents

Each applicant seeks an order declaring that it has ceased to be an investment company. On February 18, 2005, each applicant transferred its assets to JP Morgan Trust I, based on net asset value. Expenses of $850,000, $810,000, $850,000, $850,000, $850,000 and $2,550,000, respectively, incurred in connection with the reorganizations were paid by J.P. Morgan Investment Management Inc., applicants' investment adviser, or its affiliates. Filing Date: The applications were filed on April 3, 2006. Applicants' Address: 522 Fifth Ave., New York, NY 10036.