Abstract. Multichannel M-matrix method is applied to an NN-system with taking into account elastic p f-scattering, charge-exchange p/j ~ n~ reaction and p/j annihilation. The isospin breaking in the M-matrix is discussed. We describe the differential and total cross-sections for p/j~pp and p/j~nft processes, cross-section O'tot(P/j) and the real-to-imaginary ratio of the forward amplitude of elastic p/5 scattering. The fitting leads to bound state in the p-wave near the p/J-threshold, which elucidates a significant role of this wave at small energies.