COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT INVOLVING MORTGAGE BACKED SECURITIES OF JP MORGAN ACCEPTANCE CORPORATION

January 21, 2009 ? Coughlin Stoia Geller Rudman & Robbins LLP (?Coughlin Stoia?) (http://www.csgrr.com/cases/jpmorgan/) today announced that a class action lawsuit is pending in the United States District Court for the Eastern District of New York on behalf of purchasers of Mortgage Pass-Through Certificates and Asset-Backed Pass-Through Certificates (?Certificates?) of J.P. Morgan Acceptance Corporation I (?JP Morgan Acceptance? or the ?Depositor?) pursuant and/or traceable to false and misleading Registration Statements and Prospectus Supplements issued between January 2006 and March 2007 by JP Morgan Acceptance (collectively, the ?Registration Statements?). The class includes purchasers of Certificates in the following trusts:

J.P. Morgan Alternative Loan Trust 2006-A1

J.P. Morgan Alternative Loan Trust 2006-A7

J.P. Morgan Alternative Loan Trust 2006-A2

J.P. Morgan Alternative Loan Trust 2006-S1

J.P. Morgan Alternative Loan Trust 2006-A3

J.P. Morgan Alternative Loan Trust 2006-S2

J.P. Morgan Alternative Loan Trust 2006-A4

J.P. Morgan Alternative Loan Trust 2006-S3

J.P. Morgan Alternative Loan Trust 2006-A5

J.P. Morgan Alternative Loan Trust 2006-S4

J.P. Morgan Alternative Loan Trust 2006-A6

J.P. Morgan Mortgage Acquisition Trust 2006-A3

J.P. Morgan Mortgage Acquisition Trust 2006-A4

J.P. Morgan Mortgage Acquisition Trust 2006-A5

J.P. Morgan Mortgage Acquisition Trust 2006-A6

J.P. Morgan Mortgage Acquisition Trust 2006-A7

J.P. Morgan Mortgage Acquisition Trust 2006-ACC1

J.P. Morgan Mortgage Acquisition Trust 2006-CH2

J.P. Morgan Mortgage Acquisition Trust 2006-HE2

J.P. Morgan Mortgage Acquisition Trust 2006-HE3

J.P. Morgan Mortgage Acquisition Trust 2006-NC1

J.P. Morgan Mortgage Acquisition Trust 2006-RM1

J.P. Morgan Mortgage Acquisition Trust 2006-S2

J.P. Morgan Mortgage Acquisition Trust 2006-WF1

J.P. Morgan Mortgage Acquisition Trust 2006-WMC2

J.P. Morgan Mortgage Acquisition Trust 2006-WMC3

J.P. Morgan Mortgage Acquisition Trust 2006-WMC4

J.P. Morgan Mortgage Acquisition Trust 2007-A1

J.P. Morgan Mortgage Acquisition Trust 2007-A2

J.P. Morgan Mortgage Acquisition Trust 2007-CH1

J.P. Morgan Mortgage Acquisition Trust 2007-CH2

J.P. Morgan Mortgage Acquisition Trust 2007-S1

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff?s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at [email protected] If you are a member of this class, you can view a copy of the complaint or join this class action online at http://www.csgrr.com/cases/jpmorgan/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges JP Morgan Acceptance, certain of its officers and directors and the issuers and underwriters of the Certificates with violations of the Securities Act of 1933. JP Morgan Acceptance was formed in 1988 for the purpose of acquiring, owning and selling interests in those assets. JP Morgan Acceptance is a subsidiary of J.P. Morgan Securities Inc. (?JP Morgan?) and is engaged in mortgage lending and other real estate finance-related businesses, including mortgage banking, mortgage warehouse lending, and insurance underwriting.

The complaint alleges that on July 29, 2005 and February 8, 2006, JP Morgan Acceptance and the Defendant Issuers caused Registration Statements to be filed with the Securities and Exchange Commission (?SEC?) in connection with the issuance of billions of dollars of Certificates. The Certificates were issued pursuant to Prospectus Supplements, each of which was incorporated into the Registration Statements. The Certificates included several classes or tranches, which had various priorities of payment, exposure to default, interest payment provisions and/or levels of seniority. The Certificates were supported by large pools of mortgage loans. The Registration Statements represented that the mortgage pools would primarily consist of loan groups generally secured by first liens on residential properties, including conventional, adjustable rate and negative amortization mortgage loans.

The complaint alleges that the Registration Statements omitted and/or misrepresented the fact that the sellers of the underlying mortgages to JP Morgan Acceptance were issuing many of the mortgage loans to borrowers who: (i) did not meet the prudent or maximum debt-to-income ratio purportedly required by the lender; (ii) did not provide adequate documentation to support the income and assets required for the lenders to approve and fund the mortgage loans pursuant to the lenders? own guidelines; (iii) were steered to stated income/asset and low documentation mortgage loans by lenders, lenders? correspondents or lenders? agents, such as mortgage brokers, because the borrowers could not qualify for mortgage loans that required full documentation; and (iv) did not have the income required by the lenders? own guidelines to afford the required mortgage payments which resulted in a mismatch between the amount loaned to the borrower and the capacity of the borrower.

According to the complaint, by the summer of 2007, the amount of uncollectible mortgage loans securing the Certificates began to be revealed to the public. To avoid scrutiny for their own involvement in the sale of the Certificates, the Rating Agencies began to put negative watch labels on many Certificate classes, ultimately downgrading many. The delinquency and foreclosure rates of the mortgage loans securing the Certificates has grown both faster and in greater quantity than what would be expected for mortgage loans of the types described in the Prospectus Supplements. As an additional result, the Certificates are no longer marketable at prices anywhere near the price paid by plaintiffs and the Class and the holders of the Certificates are exposed to much more risk with respect to both the timing and absolute cash flow to be received than the Registration Statements/Prospectus Supplements represented.

Plaintiff seeks to recover damages on behalf of all purchasers of Certificates pursuant and/or traceable to the Registration Statements (the ?Class?). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm. Contact:

Coughlin Stoia Geller Rudman & Robbins LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
[email protected]