LONDON, November 8 - White Pine Corporation Limited ("White Pine") announced today that JPMorgan has informed White Pine that it intends to assign its management agreement with White Pine to Standard Chartered Bank. White Pine is a structured investment vehicle ("SIV"). The transaction is subject to approvals from White Pine's board of directors, the security trustee for White Pine and a majority of White Pine's capital note holders and to confirmations from rating agencies. JPMorgan is working with White Pine to ensure a smooth transition of the White Pine management role, including communications with White Pine capital note holders.
JPMorgan also advised White Pine that it will host a conference call for White Pine senior note holders later today. Details will be communicated directly to the senior note holders from JPMorgan.
