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<SEC-DOCUMENT>0001125282-04-001460.txt : 20040402
<SEC-HEADER>0001125282-04-001460.hdr.sgml : 20040402
<ACCEPTANCE-DATETIME>20040402173928
ACCESSION NUMBER:		0001125282-04-001460
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040401
FILED AS OF DATE:		20040402

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANTARUS INC
		CENTRAL INDEX KEY:			0001172480
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				330734433
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		10590 W OCEAN AIR DR
		STREET 2:		STE 200
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
		BUSINESS PHONE:		8583145700

	MAIL ADDRESS:	
		STREET 1:		10590 W OCEAN AIR DRIVE
		STREET 2:		STE 200
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			J P MORGAN CHASE & CO
		CENTRAL INDEX KEY:			0000019617
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50651
		FILM NUMBER:		04715170

	BUSINESS ADDRESS:	
		STREET 1:		270 PARK AVE
		STREET 2:		39TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2122706000

	MAIL ADDRESS:	
		STREET 1:		270 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHASE MANHATTAN CORP /DE/
		DATE OF NAME CHANGE:	19960402

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHEMICAL BANKING CORP
		DATE OF NAME CHANGE:	19920703

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHEMICAL NEW YORK CORP
		DATE OF NAME CHANGE:	19880508

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JPMP MASTER FUND MANAGER L P
		CENTRAL INDEX KEY:			0001243235
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50651
		FILM NUMBER:		04715171

	BUSINESS ADDRESS:	
		STREET 1:		JP MORGAN PARTNERS LLC
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		212 899-3400

	MAIL ADDRESS:	
		STREET 1:		C/O JPMORGAN PARTNERS LLC
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			J P MORGAN PARTNERS SBIC LLC
		CENTRAL INDEX KEY:			0001106605
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50651
		FILM NUMBER:		04715173

	BUSINESS ADDRESS:	
		STREET 1:		J.P. MORGAN PARTNERS
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2128993400

	MAIL ADDRESS:	
		STREET 1:		J.P. MORGAN PARTNERS
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHASE VENTURE CAPITAL ASSOCIATES LLC
		DATE OF NAME CHANGE:	20000214

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JPMP CAPITAL CORP
		CENTRAL INDEX KEY:			0001243236
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50651
		FILM NUMBER:		04715174

	BUSINESS ADDRESS:	
		STREET 1:		C/O J.P. MORGAN PARTNERS, LLC
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		212 899-3400

	MAIL ADDRESS:	
		STREET 1:		C/O JPMORGAN PARTNERS
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	FORMER NAME:	
		FORMER CONFORMED NAME:	JPMP CAPITAL LLC
		DATE OF NAME CHANGE:	20030618

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JP MORGAN PARTNERS BHCA LP
		CENTRAL INDEX KEY:			0001106607
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50651
		FILM NUMBER:		04715172

	BUSINESS ADDRESS:	
		STREET 1:		J.P. MORGAN PARTNERS
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2128993400

	MAIL ADDRESS:	
		STREET 1:		J.P. MORGAN PARTNERS
		STREET 2:		1221 AVENUE OF THE AMERICAS 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHASE EQUITY ASSOCIATES LLC
		DATE OF NAME CHANGE:	20000214
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>b331226_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-04-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001172480</issuerCik>
        <issuerName>SANTARUS INC</issuerName>
        <issuerTradingSymbol>SNTS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001106605</rptOwnerCik>
            <rptOwnerName>J P MORGAN PARTNERS SBIC LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>J.P. MORGAN PARTNERS</rptOwnerStreet1>
            <rptOwnerStreet2>1221 AVENUE OF THE AMERICAS 40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10020</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001106607</rptOwnerCik>
            <rptOwnerName>JP MORGAN PARTNERS BHCA LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>J.P. MORGAN PARTNERS</rptOwnerStreet1>
            <rptOwnerStreet2>1221 AVENUE OF THE AMERICAS 40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10020</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243235</rptOwnerCik>
            <rptOwnerName>JPMP MASTER FUND MANAGER L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>JP MORGAN PARTNERS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>1221 AVENUE OF THE AMERICAS 40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10020</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243236</rptOwnerCik>
            <rptOwnerName>JPMP CAPITAL CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O J.P. MORGAN PARTNERS, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>1221 AVENUE OF THE AMERICAS 40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10020</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000019617</rptOwnerCik>
            <rptOwnerName>J P MORGAN CHASE &amp; CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>270 PARK AVE</rptOwnerStreet1>
            <rptOwnerStreet2>39TH FL</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-04-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-04-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>(see footnote)</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This stock option is immediately exercisable.</footnote>
        <footnote id="F2">These options were granted to Rodney A. Ferguson, a director of the Issuer.  Mr. Ferguson is a Managing Director of J.P. Morgan Partners (SBIC), LLC (&quot;JPMC SBIC&quot;).  Mr. Ferguson is obligated to transfer any shares issued under the option to JPM SBIC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Rodney A. Ferguson</signatureName>
        <signatureDate>2004-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>b331226_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
<head><title>
Prepared and filed by St Ives Burrups
</title>
</head>
<body bgcolor="#FFFFFF">
<p align="right"><font size="2" face="serif"><b>Exhibit
    99.1</b></font></p>
<table width="100%" border="1" cellpadding="4" cellspacing="0" bordercolor="#000000">
<tr valign="bottom">
<td width="18%" align="center"><font size="2" face="serif"><b>Name and <br>
  Address of <br>
  Reporting Person<sup>(1)</sup></b></font></td>
<td width="10%"><div align="center"><font size="2" face="serif"><b>Designated Reporter<sup>(1)</sup></b></font></div></td>
<td width="8%" align="center"><font size="2" face="serif"><b>Statement for Month/Day/Year</b></font></td>
<td width="10%" align="center"><font size="2" face="serif"><b>Deemed Execution<br>
      Date</b></font><br>
  <font size="2" face="serif"><b>(Month/Day/Year)</b></font></td>
<td width="12%" align="center"><font size="2" face="serif"><b>Issuer Name, Ticker</b></font><br>
  <font size="2" face="serif"><b>or Trading Symbol</b></font></td>
<td width="9%"><div align="center"><font size="2" face="serif"><b>Title and Amount of</b></font><br>
      <font size="2" face="serif"><b>Security</b></font></div></td>
<td width="12%" align="center"><font size="2" face="serif"><b>Title of Derivative
      Securities and Title and Amount of Securities Underlying Derivative Securities</b></font></td>
<td width="9%" align="center"><font size="2" face="serif"><b>Ownership Form:</b></font> <font size="2" face="serif"><b>Direct
      (D) or</b></font> <font size="2" face="serif"><b>Indirect (I)</b></font></td>
<td width="9%" align="center"><font size="2" face="serif"><b>Nature of<br>
  Indirect</b></font><br>  <font size="2" face="serif"><b>Beneficial Ownership</b></font></td>
<td><div align="center"><font size="2" face="serif"><b>Disclaims</b></font><br>
      <font size="2" face="serif"><b>Pecuniary Interest</b></font></div></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">J.P. Morgan Partners (BHCA), L.P.</font><br>
  <font size="2" face="serif">c/o J.P. Morgan Partners, LLC </font><br>
  <font size="2" face="serif">1221 Avenue of the Americas &#150; 40th Floor</font><br>
  <font size="2" face="serif">New York, NY 10020</font></td>
<td align="center"><font size="2" face="serif">J.P. Morgan Partners (SBIC),
    LLC</font></td>
<td align="center"><font size="2" face="serif">April 1, 2004</font></td>
<td align="center"><font size="2" face="serif">N/A</font></td>
<td align="center"><font size="2" face="serif">Santarus, Inc. (&#147;SNTS&#148;)</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">I</font></td>
<td align="left"><font size="2" face="serif">See Explanatory<br>
  Note 2 below</font></td>
<td align="center"><font size="2" face="serif">No</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">JPMP Master Fund Manager, L.P.</font><br>
  <font size="2" face="serif">c/o J.P. Morgan Partners, LLC </font><br>
  <font size="2" face="serif">1221 Avenue of the Americas &#150; 40th Floor</font><br>
  <font size="2" face="serif">New York, NY 10020</font></td>
<td align="center"><font size="2" face="serif">J.P. Morgan Partners (SBIC),
    LLC</font></td>
<td align="center"><font size="2" face="serif">April 1, 2004</font></td>
<td align="center"><font size="2" face="serif">N/A</font></td>
<td align="center"><font size="2" face="serif">Santarus, Inc. (&#147;SNTS&#148;)</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">I</font></td>
<td align="left"><font size="2" face="serif">See Explanatory Note 3 below</font></td>
<td align="center"><font size="2" face="serif">No</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">JPMP Capital Corp.</font><br>
  <font size="2" face="serif">c/o J.P. Morgan Partners, LLC </font><br>
  <font size="2" face="serif">1221 Avenue of the Americas &#150; 40th Floor </font><br>
  <font size="2" face="serif">New York, NY 10020</font></td>
<td align="center"><font size="2" face="serif">J.P. Morgan Partners (SBIC),
    LLC</font></td>
<td align="center"><font size="2" face="serif">April 1, 2004</font></td>
<td align="center"><font size="2" face="serif">N/A</font></td>
<td align="center"><font size="2" face="serif">Santarus, Inc. (&#147;SNTS&#148;)</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">I</font></td>
<td align="left"><font size="2" face="serif">See Explanatory<br>
Note 4 below</font></td>
<td align="center"><font size="2" face="serif">No</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">J.P. Morgan Chase &amp; Co.<br>
270 Park Avenue
35th Floor<br>
New York, NY 10017
</font></td>
<td align="center"><font size="2" face="serif">J.P. Morgan Partners (SBIC),
    LLC</font></td>
<td align="center"><font size="2" face="serif">April 1, 2004</font></td>
<td align="center"><font size="2" face="serif">N/A</font></td>
<td align="center"><font size="2" face="serif">Santarus, Inc. (&#147;SNTS&#148;)</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">See Table II</font></td>
<td align="center"><font size="2" face="serif">I</font></td>
<td align="left"><font size="2" face="serif">See Explanatory<br>
Note 5 below</font></td>
<td align="center"><font size="2" face="serif">No</font></td>
</tr>
</table>
<p align="left"><font size="2" face="serif">Explanatory Note:</font></p>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"><font size="2" face="serif">1)</font></td>
<td align="left"> <font size="2" face="serif"> The Designated Reporter is executing
    this report on behalf of all Reporting Persons, each of whom has authorized
    it to do so. Each of the Reporting Persons disclaims beneficial ownership
    of the Issuer&#146;s securities to the extent it exceeds such Person&#146;s
    pecuniary interest.</font></td>
</tr>
<tr valign="top">
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
</table>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"><font size="2" face="serif">2)</font></td>
<td align="left"><font size="2" face="serif">The amounts shown in Table II represent
    the beneficial ownership of the Issuer&#146;s equity securities by J.P.
    Morgan Partners (SBIC), LLC (&#147;JPM SBIC&#148;). The Reporting Person
    is the sole member of JPM SBIC.</font></td>
</tr>
<tr valign="top">
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
</table>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"><font size="2" face="serif">3)</font></td>
<td align="left"><font size="2" face="serif">The amounts shown in Table II represent
    the beneficial ownership of the Issuer's equity securities by JPM SBIC, a
    portion of which may be deemed attributable to the Reporting Person because
    it is the sole general partner of J.P. Morgan Partners (BHCA), L.P. (&quot;JPM
    BHCA&quot;), the sole member of JPM SBIC. The actual pro rata portion of
    such beneficial ownership that may be deemed to be attributable to the Reporting
    Person is not readily determinable because it is subject to several variables,
    including the internal rate of return and vesting of interests within JPM
    BHCA.</font></td>
</tr>
<tr valign="top">
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
</table>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="3%"><font size="2" face="serif">4)</font></td>
<td align="left"><font size="2" face="serif">The amounts shown in Table II represent
    the beneficial ownership of the Issuer&#146;s equity securities by JPM SBIC,,
    a portion of which may be deemed attributable to the Reporting Person because
    it is the general partner of JPMP Master Fund Manager, L.P. (&#147;MF Manager&#148;),
    the general partner of JPM BHCA the sole member of JPM SBIC. The actual pro
    rata portion of such beneficial ownership that may be deemed to be attributable
    to the Reporting Person is not readily determinable because it is subject
    to several variables, including the internal rate of return and vesting of
    interests within JPM BHCA and MF Manager.</font></td>
</tr>
<tr valign="top">
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="top">
  <td><font size="2" face="serif">5)</font></td>
  <td align="left"><font size="2" face="serif">The amounts shown in Table II
      represent the beneficial ownership of the Issuer&#146;s equity securities
      by JPM SBIC, a portion of which may be deemed attributable to the Reporting
      Person because it is the sole stockholder of JPMP Capital Corp. and of
      Chatham Ventures, Inc., the limited partner of JPM BHCA. The actual pro
      rata portion of such beneficial ownership that may be attributable to the
      Reporting Person is not readily determinable because it is subject to several
      variables, including the internal rate of return and vesting of interests
    within JPM BHCA and MF Manager.</font></td>
</tr>
<tr valign="top">
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
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