JPMorgan Chase to Acquire Vastera

Transaction to combine Vastera's global trade management solutions with JPMorgan Chase's logistics and trade services businesses

New York — January 7, 2005 — JPMorgan Chase Bank N.A. and Vastera today announced that they have signed an Agreement and Plan of Merger whereby Vastera, a provider of global trade management solutions, will be acquired by and combined with the Logistics and Trade Services businesses of JPMorgan Chase's Treasury Services unit.

Under the Agreement and Plan of Merger, Vastera shareholders will receive $3.00 for each outstanding share of Vastera common stock they own, for a total transaction value of approximately $129 million.

Vastera's solutions automate the required trade management processes associated with the physical movement of goods internationally. According to JPMorgan Chase, the acquisition will further provide its clients with a "one-stop shop" that addresses the challenges and risks associated with moving goods across international borders.

The JPMorgan Chase solution facilitates the management of information and processes in support of physical goods movement and financial settlement of the complete global trade process.

"We already had an extensive working relationship with JPMorgan Chase, providing global trade management solutions, and now we are able to build on that relationship as a part of the same firm," said Tim Davenport, CEO at Vastera. "Joining an organization that has a broad global trade management infrastructure will bring tangible benefits to our clients."

Completion of the merger is subject to Vastera shareholder and various banking and other customary regulatory approvals. Vastera's board of directors approved the transaction.