Chase Auto Finance and Subaru of America Inc. Renew Captive Lender Agreement.

GARDEN CITY, N.Y. -- Chase Auto Finance and Subaru of America Inc. today announced the renewal of their partnership, Subaru Motors Finance (SMF), positioning Chase to continue to serve as the captive auto finance provider for Subaru in the U.S.

"Subaru is pleased to extend our relationship

with Chase Auto Finance," said Thomas J. Doll, executive vice president and CFO, Subaru of America Inc. "Through our partnership, Subaru Motors Finance has provided our retailers with efficient and cost effective retail, lease and floorplan finance capabilities that are a key component to the success of our business."

As captive lender, Chase Auto Finance worked with Subaru to create the SMF brand. Since 2001, SMF has financed nearly 500,000 Subaru customersCoabout half of all Subaru vehicles sold in the United States. An exclusive team at SMF manages the full spectrum of retail, lease and floorplan finance needs with a variety of customized product offerings for the nearly 600 Subaru retailers nationwide.

"Chase Auto Finance has forged a strong relationship with Subaru and its retail organization, so we are delighted to continue this productive partnership," said Joe Scimone, Chase Auto Finance national sales and client relations executive. "After providing superior, cost-effective financing to nearly half a million Subaru customers, we look forward to serving many, many more."

About Subaru of America Inc.

Subaru of America Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered in Cherry Hill, N.J., the company markets and distributes Subaru Symmetrical All-Wheel Drive vehicles, parts and accessories through a network of nearly 600 dealers across the United States. Subaru makes the best-selling All-Wheel Drive car sold in America based on R.L. Polk & Co. new vehicle retail registration statistics calendar year-end 2005. For additional information visit www.subaru.com.

About Chase Auto Finance

With its affiliates, Chase Auto Finance is the largest bank provider of U.S. auto financing. Parent company JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com