JP MORGAN SERIES TRUST
N-18F1, 1998-06-11
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                 NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1
              UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED


                            J.P. Morgan Series Trust
                            Exact Name of Registrant
                            NOTIFICATION OF ELECTION

         J.P. Morgan Global 50 Fund (the "Fund"), a series of J.P. Morgan Series
Trust and an open end  investment  company  registered  with the  Securities and
Exchange Commission (the "Commission") under the Investment Company Act of 1940,
as amended (the "1940 Act"),  hereby  notifies the Commission  that it elects to
commit  itself  to pay in cash all  redemptions  by a  shareholder  of record as
provided by Rule 18f-1  under the 1940 Act (the  "Rule").  The Fund  understands
that  this  election  is  irrevocable  while the Rule is in  effect  unless  the
Commission by order upon application permits the withdrawal of this Notification
of election.

                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the 1940 Act, the Fund
has caused this  Notification  of Election to be duly  executed on its behalf in
the City of New York and State of New York on June 11, 1998.

                                            J.P. Morgan Series Trust

                                            By:      /s/  Michael S. Petrucelli
                                                     --------------------
                                                     Michael S. Petrucelli
                                                     Vice President

Attest:  /s/  Stephanie D. Pierce
              -------------------
         Stephanie D. Pierce
         Vice President


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