Changes in the name Investment Objective, Investment Policy, Investor and Risk Profile

JPMorgan Funds – Emerging Middle East Equity Fund
Important Information

With effect from 15 June 2009, the name of the JPMorgan Funds – Middle East Equity Fund will be changed to the JPMorgan Funds – Emerging Middle East Equity Fund. The Investment Objective, Investment Policy, Investor and Risk Profile of the Fund will be amended to clarify that the Fund will invest only in the emerging markets of the Middle East region.

From the same date, the countries included in the MSCI Middle East Index (Total Return Net), will be amended by removing Israel and by adding Oman, Qatar and the United Arab Emirates. With effect from 15 July 2009, the benchmark of the Fund will be amended to also include the State of Kuwait. The portfolio will therefore be rebalanced due to the reclassification of the markets within the region and the changes to the portfolio will be implemented over an appropriate time period in order to minimise the market impact on the Fund.

The benchmark for this Fund is used for indicative performance purposes and the Investment Manager does not intend to manage the Fund with strict reference to the benchmark.