NEW YORK - Bank One Corp. chairman James Dimon told investors during a presentation Tuesday that the company expects to trim another $500 million of expenses as part of its continuing "waste-reduction" program.

First USA, the company's Wilmington, Del., card subsidiary, which faltered last year and this, has stabilized, and the company will spend more on marketing for the unit next year, he said.

Mr. Dimon, whose presentation at Goldman, Sachs & Co.'s annual banking conference was simultaneously Webcast, also said he expects credit costs to rise in the first and second quarters to reflect the economy's slowdown. Many other bank executives have expressed a similar outlook.

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