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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported) October 2, 1998
J.P. MORGAN & CO. INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 1-5885 13-2625764
(State or other juris- (Commission (IRS Employer
diction of File Number) Identification No.)
incorporation)
60 WALL STREET, NEW YORK, NEW YORK 10260-0060
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 483-2323
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On October 2, 1998, the Registrant issued a press release
disclosing information on its exposure to hedge funds as of
September 28, 1998. Also, the Registrant confirmed that it made
an equity investment in Long-Term Capital Management on September
29, 1998. A copy of such press release is filed herein as
exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(a) Financial Statements
NONE.
(b) Pro Forma Financial Information
NONE.
(c) Exhibits
99. Copy of press release of J.P. Morgan & Co. Incorporated
dated October 2, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J.P. MORGAN & CO. INCORPORATED
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(REGISTRANT)
/s/ Grace B. Vogel
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NAME: Grace B. Vogel
TITLE: Chief Accounting Officer
DATE: October 2, 1998
J.P. Morgan & Co. Incorporated
News Release
J.P. Morgan comments on hedge fund exposure
J.P. Morgan released information today on its exposure to hedge
funds. Such funds owed Morgan approximately $1 billion under
derivative and foreign exchange contracts on a mark-to-market basis
as of September 28, 1998. Substantially all of this amount is
secured by cash and U.S. Treasury and agency securities, under daily
mark-to-market collateral agreements.
In addition, the net amount owed Morgan under financing
agreements and unsecured loans was approximately $70 million.
J.P. Morgan confirmed that it had made an equity investment of
$300 million in Long-Term Capital Management on September 29, 1998,
as part of the consortium of firms recapitalizing that entity.
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